Document:

EX-10.2

 Exhibit 10.2 

LIXIANG EDUCATION HOLDING CO., LTD. 

FORM OF EXECUTIVE EMPLOYMENT AGREEMENT 

This Executive Employment Agreement, dated as of             ,
20     (this “Agreement”), is executed by and between Lixiang Education Holding Co., Ltd., an exempted company incorporated and existing under the laws of the Cayman Islands (the
“Company”) and             , an individual with passport/ID number
                 (the “Executive”). 

WHEREAS, the Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined
below) and under the terms and conditions of this Agreement; 
 WHEREAS, the Executive desires to be employed by the Company during the term of
Employment and under the terms and conditions of this Agreement; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements herein contained, the Company and the Executive agree as follows: 
 ARTICLE I 

EMPLOYMENT 

SECTION 1.01 Employment. The Company hereby agrees to employ the Executive and the Executive hereby accepts such employment, on
the terms and conditions hereinafter set forth (the “Employment”). 
 SECTION 1.02 Term of Employment. Subject
to the terms and conditions of this Agreement, the term of the Employment shall be              years, commencing on
            , 20             and ending on
            ,              (the “Term”), unless terminated earlier pursuant to the terms of this
Agreement. 
 SECTION 1.03 Position, Duties and Responsibilities. 

(a) During the Term, the Executive shall serve as              of the Company or
in such other position or positions with a level of duties and responsibilities consistent with the foregoing with the Company and/or its subsidiaries and affiliated entities as the board of directors of the Company (the “Board”)
may specify from time to time and shall have the duties, responsibilities and obligations customarily assigned to individuals serving in the position or positions in which the Executive serves hereunder and as assigned by the Board, or with the
Board’s authorization, by the Company’s Chief Executive Officer. The Executive will be based in             ,
             or any other location as requested by the Company during the Term. 

(b) The Executive agrees to serve without additional compensation, if elected or appointed thereto, as a director of the Company or any
subsidiaries or affiliated entities of the Company (collectively, the “Group”) and as a member of any committees of the board of directors of any such entity; provided that the Executive is indemnified for serving in any and all
such capacities on a basis no less favorable than is currently provided to any other director of any member of the Group. 

 (c) The Executive agrees to devote all of his/her working time and efforts to the
performance of his/her duties for the Company and to faithfully and diligently serve the Company in accordance with this Agreement and the guidelines, policies and procedures of the Company approved from time to time by the Board. 

(d) Except with the prior written approval of the Company, the Executive shall not render commercial or professional services of any nature to
any person or organization, whether or not for compensation; and the Executive will not directly or indirectly engage, participate, invest, finance or otherwise assist in any business activity that is potentially competitive in any manner with the
business of the Company or any affiliated entities or any business activity that may cause the Executive to be in conflict of interest with the Company or any affiliated entities, whether or not for profit. 

ARTICLE II 
 COMPENSATION
AND BENEFITS 
 SECTION 2.01 Base Salary. The Company shall pay base salaries to the Executive in the amount and by the
means as set forth in Part I of Schedule A hereto, subject to annual review and adjustment by the Board or any committee designated by the Board. 

SECTION 2.02 Bonus. The Executive may be entitled to the performance-based bonus as set forth in Part II of Schedule A
hereto, subject to annual review and adjustment by the Board or any committee designated by the Board. 
 SECTION 2.03 Equity
Incentives. During the Term, the Executive shall be eligible to participate, at a level comparable to similarly situated executives of the Company, in such long-term compensation arrangements as may be authorized from time to time by the Board,
including any share incentive plan the Company may adopt from time to time in its sole discretion. 
 SECTION 2.04 Benefits.
During the Term, the Executive shall be entitled to participate in all of the employee benefit plans and arrangements made available by the Company to its similarly situated executives, including, but not limited to, any retirement plan, medical
insurance plan and travel/holiday policy, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. 

ARTICLE III 
 COVENANTS

 SECTION 3.01 Confidentiality and Non-Disclosure. 

(a) The Executive acknowledges and agrees that the Executive holds a position of trust and confidence with the Company and that his/her
employment by the Company will require that the Executive have access to and knowledge of proprietary, confidential or secret information in connection with the Company, the business of the Group, customers or business partners of the Company or
their respective businesses (the “Confidential Information”). Such Confidential Information shall include, without limitation, trade secrets, manuals, hardware, customers’ personal information, terms of business agreements and
contracts, research materials, business strategies, personnel information, market information, technical materials, forecasts, promotion, financial and other business information of the Group, no matter such information is directly or indirectly
disclosed to the Executive in writing, orally, in the form of image or object or otherwise. The Executive acknowledges and agrees that he/she direct and indirect disclosure of any such Confidential Information would place the Company at a
competitive disadvantage and would do damage, monetary or otherwise, to the Company’s business. 

  
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 (b) During the Term and at all times thereafter, the Executive shall not, directly or
indirectly, whether individually, as a director, shareholder, owner, partner, employee, consultant, principal or agent of any business, or in any other capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of
the Confidential Information without the prior express written approval of the Company, other than in the proper performance of the duties contemplated herein, unless and until such Confidential Information is or shall become general public
knowledge through no fault of the Executive. 
 (c) In the event that the Executive is required by law to disclose any Confidential
Information, the Executive agrees to give the Company prompt advance written notice thereof and to provide the Company with reasonable assistance in obtaining an order to protect the Confidential Information from public disclosure. 

(d) The failure to mark any Confidential Information as confidential shall not affect its status as Confidential Information under this
Agreement. 
 SECTION 3.02 Third Party Information in the Executive’s Possession. The Executive agrees that he/she shall
not, during the Term, (a) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by
Executive, if any, or (b) bring into the premises of Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity.

 SECTION 3.03 Third Party Information in the Company’s Possession. The Executive recognizes that the Company may have
received, and in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited
purposes. The Executive agrees that the Executive owes the Company and such third parties, during the Term and thereafter, a duty to hold all such confidential or proprietary information in strict confidence and not to disclose such information to
any person or firm, or otherwise use such information, in a manner inconsistent with the limited purposes permitted by the Company’s agreement with such third party. 

SECTION 3.04 Non-Competition. In consideration of the compensation provided to the Executive by the Company hereunder, the
adequacy of which is hereby acknowledged by the parties hereto, the Executive agrees that during the Term and for a period of one year following the termination of the Employment for whatever reason (the “Restrictive Period”), the
Executive shall not, directly or indirectly, engage in any manner in any business that may compete with the business of the Company anywhere in the world, and without the prior written consent of the Company, the Executive shall not, directly or
indirectly, anywhere in the world, own an interest in, manage, operate, join, control, lend money or render financial or other assistance to or participate in or be connected with, as an officer, employee, partner, shareholder, principal, licensor,
consultant or otherwise, any person that competes with the Company. During the Restrictive Period, the Executive shall not approach borrowers, institutional funding partners or other persons or entities introduced to the Executive in his/her
capacity as a representative of the Company for the purpose of doing business with such persons or entities that will harm the Company’s business relationships with these persons or entities. 

  
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 SECTION 3.05 Non-Solicitation; Non-Interference. During the Restrictive Period,
the Executive agrees that he/she will not, directly or indirectly, for the Executive’s benefit or for the benefit of any other person or entity, do any of the following: 

(a) solicit or seek to solicit from any partner doing business with the Group during the Term business of the same or of a similar nature to
the business of the Group; 
 (b) solicit or seek to solicit from any known potential partner of the Group business of the same or of a
similar nature to that which, whether or not has been the subject of a known written or oral bid, offer or proposal by the Group, or of substantial preparation with a view to making such a bid, proposal or offer; 

(c) solicit or seek to solicit the employment or services of, or hire or engage, any person who is employed or engaged by the Group; 

(d) assume employment with or provide services to any competitors of the Group, or engage, whether as principal, partner, consultant or
otherwise, any of the Group’s competitors, without the Group’s prior written consent; or 
 (e) otherwise interfere with the
business or accounts of the Group, including, but not limited to, with respect to any relationship or agreement between the Group and any of its partners. 

SECTION 3.06 No-Conflict. The Executive represents and warrants that the execution by the Executive of this Agreement, the
employment with the Company, and the performance by the Executive of his/her duties and responsibilities pursuant to this Agreement will not breach any of his/her legal or contractual obligation to any prior employer of the Executive or any other
parties, including, without limitation, any obligation in respect of proprietary or confidential information or intellectual property rights of such party. 

SECTION 3.07 Enforceability. Each covenant contained in this Article III constitutes an independent covenant, and if any covenant
in unenforceable, other covenants shall continue to be valid and binding. In the event the term of any restriction or the territorial restriction contained in this Article III is finally determined by a competent court to have exceeded the maximum
extent deemed reasonable and enforceable by such court, then this Agreement shall be amended as such to adopt the longest term or largest territory deemed by such court to be enforceable. Any lawsuit or claim brought by the Executive against the
Company (whether by virtue of this Agreement or any other agreement) shall not constitute a defense against the enforcement of this Article III by the Company. 

SECTION 3.08 Injunctive Relief. The Executive agrees that any breach or threatened breach of any covenants contained in this
Article III would result in irreparable injury and damage to the Company for which an award of money to the Company would not be an adequate remedy. The Executive therefore also agrees that in the event of said breach or any reasonable threat of
breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons and/or entities acting for and/or with
the Executive. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, remedies available under this Agreement and the recovery
of damages. The Executive and the Company further agree that the provisions of this Article III are reasonable. 

  
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 SECTION 3.09 Indemnity of Company. The Executive agrees to indemnify the Company
and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of litigation, arising out of or in connection with any violation of this Agreement by the Executive. 

ARTICLE IV 
 INTELLECTUAL
PROPERTY 
 SECTION 4.01 Prior Inventions. The Executive has attached hereto, as Schedule B, a list of patents duly
registered with relevant authorities, original works of authorship and trade secrets made or conceived by or belonging to the Executive (whether made solely by the Executive or jointly with others) that (a) were developed by Executive prior to
the Executive’s employment by the Company, (b) relate to the Company’ actual or proposed business, products or research and development, and (c) are not assigned to the Company hereunder (collectively, the “Prior
Inventions”); or, if no such list is attached, the Executive represents that there are no such Prior Inventions. Except to the extent set forth in Schedule B, the Executive hereby acknowledges that, if in the course of his/her
service for the Company, the Executive incorporates into a Company product, process or machine a Prior Invention owned by the Executive or in which he/she has an interest, the Company is hereby granted and shall have a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide right and license (which may be freely transferred by the Company to any other person or entity) to make, have made, modify, use, sell, sublicense and otherwise distribute such Prior Invention as part of or in
connection with such product, process or machine. 
 SECTION 4.02 Assignment of Intellectual Property. The Executive hereby
assigns to the Company or its designees, without further consideration and free and clear of any lien or encumbrance, the Executive’s entire right, title and interest to any and all inventions, discoveries, improvements, developments, works of
authorship, concepts, ideas, plans, specifications, software, formulas, databases, designees, processes and contributions to Confidential Information created, conceived, developed or reduced to practice by the Executive (alone or with others) during
the Term which (a) are related to the Company’s current or anticipated business, activities, products, or services, (b) result from any work performed by Executive for the Company, or (c) are created, conceived, developed or
reduced to practice with the use of Company property, including any and all Intellectual Property Rights (as defined below) therein (the “Work Product”). Any Work Product which falls within the definition of “work made for
hire”, as such term is defined in the U.S. Copyright Act, shall be considered a “work made for hire”, the copyright in which vests initially and exclusively in the Company. The Executive waives any rights to be attributed as the
author of any Work Product and any “droit morale” (moral rights) in Work Product. The Executive agrees to immediately disclose to the Company all Work Product. For purposes of this Agreement, “Intellectual Property Rights”
shall mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary rights protection legally available. 

  
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 SECTION 4.03 Patent and Copyright Registration. The Executive agrees to execute
and deliver any instruments or documents and to do all other things reasonably requested by the Company in order to more fully vest the Company with all ownership rights in the Work Product. If any Work Product is deemed by the Company to be
patentable or otherwise registrable, the Executive shall assist the Company (at the Company’s expense) in obtaining letters of patent or other applicable registration therein and shall execute all documents and do all things, including
testifying (at the Company’s expense) as necessary or appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property Rights relating to any Work Product. Should the Company be unable to secure the Executive’s signature
on any document deemed necessary to accomplish the foregoing, whether due to the Executive’s disability or other reason, the Executive hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as
the Executive’s agent and attorney-in-fact to act for and on the Executive’s behalf and stead to take any of the actions required of Executive under the previous sentence, with the same effect as if executed and delivered by the Executive,
such appointment being coupled with an interest. 
 SECTION 4.04 Maintenance of Records. The Executive agrees to keep and
maintain adequate and current written records of all Intellectual Property Rights made by the Executive (solely or jointly with others) during the term of his/her employment with the Company. The records will be in the form of notes, sketches,
drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times. 

ARTICLE V 
 TERMINATION

 SECTION 5.01 Termination By the Company. 

(a) By Reason of Death. The employment of the Executive by the Company shall be automatically ceased upon the death of the Executive.
In the event that employment of the Executive by the Company terminates as a result of the Executive’s death, the Executive’s estate or heirs will receive all unpaid compensation accrued as of the date of the termination of the employment
as provided in Article II hereof; provided that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. Nothing contained
herein shall prevent the estate or heirs of the Executive from being entitled to any interest or other applicable benefits under any life insurance programs (if any). 

(b) By Reason of Disability. In the event that the Executive is entitled to long-term disability benefits of the Company, or in the
event that, in the judgment of the Company, the Executive is not able to perform his/her duties for 90 consecutive days or 120 days or longer in a 12-month period due to his/her physical or psychological problems, the Company may terminate the
Executive’s employment; provided that such termination is permitted by the law. Upon termination, the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article II hereof; provided, however,
that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. The provisions of this Section 5.01(b) shall not affect the
Executive’s rights under any disability program that he/she participates (if any). 

  
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 (c) For Cause. For purposes of this Agreement, unless otherwise provided under
applicable laws, “Cause” will exist at any time after the occurrence of one or more of the following events: (i) the Executive commits willful misconduct or gross negligence in performance of his/her duties hereunder (the
“Malfeasance”) and fails to correct such Malfeasance within a reasonable period specified by the Company after the Company has sent the Executive a written notice demanding correction within such a period; (ii) the Executive
has committed Malfeasance and has caused serious losses and damages to the Company; (iii) the Executive seriously violates the internal rules of the Company and fails to correct such violation within a reasonable period specified by the Company
after the Company has sent the Executive a written notice demanding correction within such a period; (iv) the Executive has seriously violated the internal rules of and has caused serious losses and damages to the Company; (v) the
Executive is convicted by a court of competent jurisdiction or has pleaded guilty of theft, fraud or other criminal offense; (vi) the Executive seriously breaches his/her duty of loyalty to the Company or an affiliated entity of the Company
under the laws of the Cayman Islands, the People’s Republic of China or other relevant jurisdictions; or (vii) the Executive continues failure to satisfactorily perform his/her duties. The Company may terminate the employment of the
Executive for Cause at any time without prior written notice. Upon termination, the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article II hereof and severance payments as expressly required
by applicable law; provided, however, that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. 

(d) Without Cause. The Company may terminate the Executive’s employment by a three-month prior written notice. Upon termination,
the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article II hereof; provided, however, that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws.
Thereafter, all obligations of the Company under this Agreement shall terminate. 
 SECTION 5.02 Termination by the Executive.
The Executive may voluntarily terminate his/her employment with the Company with or without cause by a three-month prior written notice. During such three-month notice period, the Executive shall continue to perform diligently his/her duties and
responsibilities under this Agreement. The Company shall have the discretion to terminate its employment with the Executive prior to the last day of such three-month period; provided that the Company shall have paid the Executive all of his/her
compensation accrued through the last day of such three-month period pursuant to Article II hereof; provided further that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, the
Company’s obligations hereunder shall terminate. In such case, the Company shall not be responsible for paying any severance pay or other benefits to the Executive. 

SECTION 5.03 Notice of Termination. Any termination of the Executive’s employment under this Agreement shall be communicated
by written notice of termination (the “Notice of Termination”) from the terminating party to the other party. The Notice of Termination shall indicate the specific provision(s) of this Agreement relied upon in effecting the
termination. The “date of termination” shall mean (a) the date set forth in the Notice of Termination, or (b) if the Executive’s employment is terminated by the Executive’s death, the date of his/her death. 

  
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 SECTION 5.04 Return of Group Property. The Executive agrees that following the
termination of the Executive’s employment for any reason, or at any time prior to the Executive’s termination upon the request of the Company, he/she shall return all property of the Group that is then in or thereafter comes into his/her
possession, including, but not limited to, any Confidential Information or Intellectual Property Rights, or any other documents, contracts, agreements, plans, photographs, projections, books, notes, records, electronically stored data and all
copies, excerpts or summaries of the foregoing, as well as any automobile or other materials or equipment supplied by the Group to the Executive, if any. 

SECTION 5.05 Requirement for a Release. Notwithstanding the foregoing, the Company’s obligations to pay or provide any
benefits shall (a) cease as of the date the Executive breaches any of the provisions of this Agreement, and (b) be conditioned on the Executive signing the Company’s customary release of claims in favor of the Group and the expiration
of any revocation period provided for in such release. 
 ARTICLE VI 

ANTI-CORRUPTION 

SECTION 6.01 Anti-Corruption. The Executive agrees to diligently adhere to the U.S. Foreign Corrupt Practices Act of 1977, as
amended. The Executive agrees and promises not to provide or offer any remuneration, gift, service or article of value to any government officials (including working stuff or employees of any government or administrative agencies, political parties
or candidates) of any country for any reason. The Executive further agrees and promises that the Executive will not accept any remuneration in the form of cash or other tangible objects from any person in performing his/her duties under this
Agreement other than the compensation specified in Article II of this Agreement. The Executive promises that all conducts of the Executive under this Agreement shall be in compliance with all applicable laws, regulations and administrative rules at
all times. 
 ARTICLE VII 

MISCELLANEOUS 

SECTION 7.01 Withholding Taxes. Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to
be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such national, state, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any
applicable law or regulation. 
 SECTION 7.02 Continuing Obligation. If the Executive is employed by any existing or future
member of the Group at any time, or provides services to such member of the Group, or otherwise retained by such member of the Group, then the obligations under this Agreement shall continue to apply. Any reference to the Company shall include such
member of the Group. In the event that this Agreement expires or terminates for any reason, the Executive shall immediately resign from any position at such member of the Group, unless otherwise required by the Company. 

SECTION 7.03 Notice to Employer. The Executive hereby authorizes the Company to notify the relevant provisions of this Agreement
and the Executive’s obligations under this Agreement to the actual or future employer of the Executive (including the member of the Group with which the Executive will work). 

  
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 SECTION 7.04 Right to Name and Image. The Executive hereby authorizes the
Company to use, or authorize any other person to use, once or from time to time during his/her employment with the Company, the names, photos, images (including cartoons), voices and resume of the Executive as well as photocopies and duplicates
thereof in any media now known or developed in the future (including but not limited to movies, videos, digital or any other electronic media) for purposes as may be deemed appropriate by the Company. 

SECTION 7.05 Survival. The Executive further agrees that (a) Articles III and IV shall survive the termination or expiration
of the Term and the termination of this Agreement, and (b) after termination or expiration of the Term, the Executive shall use his/her best efforts to cooperate with the Company in connection with such surviving obligations, including, without
limitation to, completion of outstanding work on behalf of the Company, transfer of his/her assignments to designated employees of the Company, and defense of the Company against claims raised by any third party in connection with any action or
negligence of the Executive during his/her employment with the Company. 
 SECTION 7.06 Amendment. This Agreement may not be
amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto. 

SECTION 7.07 Waiver. Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege
under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any
waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is
signed by the party asserted to have granted such waiver. 
 SECTION 7.08 Transfer; Successors and Assigns. The Executive agrees
that he/she will not transfer, sell, assign or otherwise dispose of (whether voluntarily, involuntarily or by operation of law) any rights or interests under this Agreement, and the rights of the Executive shall not be subject to any security
interest or creditors’ claims. Any such transfer, assign or other disposal shall be invalid. Nothing contained in this Agreement shall prevent the Company from merging into or with any other company or selling all or substantially all of the
assets of the Company, or transfer this Agreement or any obligation under this Agreement. In the event of any change in the ownership interest or the control of the Company, the provisions of this Agreement shall continue to apply and shall be
binding upon any successors. Notwithstanding and subject to the foregoing, this Agreement shall be valid and binding upon, and inure to the benefit of, the successor, representative, heirs and permitted assigns of each party, and shall not vest in
any other individual or entity any interest. 
 SECTION 7.09 Notice. All notices, requests, demands and other communications
required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if (a) delivered by hand, (b) otherwise delivered against receipt therefor, (c) sent by a recognized courier with
next-day or second-day delivery to the last known address of the other party; or (d) sent by e-mail with confirmation of receipt. 

  
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 SECTION 7.10 Severability; Enforceability. Without prejudice to
Section 3.07, if all or any portion of any provision of this Agreement as applied to any person, to any place or to any circumstance shall be ruled by an arbitration commission or a court of competent jurisdiction to be invalid, illegal or
incapable of being enforced, the same shall in no way affect (to the maximum extent permissible by applicable laws) that provision or the remaining portions of that provision as applied to any parties, places or circumstances or any other provisions
of this Agreement or the validity or enforceability of this Agreement as a whole. 
 SECTION 7.11 Entire Agreement. This
Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The
Executive acknowledges that he/she has not entered into this Agreement in reliance upon any representation, warranty or undertaking which is not set forth in this Agreement. 

SECTION 7.12 Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of New York
without regard to the conflict of laws principles thereof. 
 SECTION 7.13 Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more
counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 

The Executive acknowledges that (a) he/she has consulted or has the opportunity to consult with independent counsel of his/her choice
regarding this Agreement, and the Company has suggested that he/she do so and (b) he/she has read and understands this Agreement, fully understands its legal effect, and has entered into this Agreement voluntarily in his/her own judgment. The
Executive hereby agrees that the obligations under Articles III and IV hereof and the definition of Confidential Information contained in those provisions shall also apply to the Confidential Information relating to any work performed for the
Company prior to the execution of this Agreement. 
 [Remainder of the page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above. 

 

			
	LIXIANG EDUCATION HOLDING CO., LTD.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

	
	EXECUTIVE
	
	   

	Name:

 Schedule A 

Compensation 
 Part I. Base Salary 

Part II. Bonus 

 Schedule B 

List of Prior Inventions 
  

					
	 Title
	  	 Date
	  	
Identifying Number
or Brief Description

		  		  	
		  		  	
		  		  	

         No inventions or improvements 

        Additional Sheets Attached 

Signature of Executive:  
 Print Name of
Executive:                 
 Date:EX-10.3

 Exhibit 10.3 

Business Cooperation Agreement 
 Zhejiang
Mengxiang Consulting Services Co., Ltd. 
 And 
 Liandu
Foreign Languages School 
 the Kindergarten of Liandu Foreign Languages School 

Zhejiang Lishui Mengxiang Education Development Co., Ltd. 
 And

 Ye Fen 
 Ye Fang 

Ye Hong 
 October 13, 2018 

  
 1 

 Table of Contents 

 

					
	 ARTICLE I. DEFINITION AND
INTERPRETATION
	  	 	4	 
	 ARTICLE II. REPRESENTATIONS, WARRANTIES
AND COVENANTS
	  	 	5	 
	 ARTICLE III. COOPERATION
	  	 	7	 
	 ARTICLE IV. FINANCIAL MANAGEMENT AND
PAYMENT OF FEES
	  	 	18	 
	 ARTICLE V. LIABILITY FOR BREACH
OF CONTRACT
	  	 	18	 
	 ARTICLE VI. GOVERNING LAWS AND
DISPUTE RESOLUTION
	  	 	19	 
	 ARTICLE VII. CONFIDENTIALITY
	  	 	21	 
	 ARTICLE IIX. SEVERABILITY
	  	 	21	 
	 ARTICLE IX. TERM
	  	 	22	 
	 ARTICLE X. AMENDMENT
	  	 	22	 
	 ARTICLE XI. FORCE MAJEURE
	  	 	23	 
	 ARTICLE XII. CHANGE OF
CIRCUMSTANCES
	  	 	23	 
	 ARTICLE XIII. MISCELLANEOUS
	  	 	24	 

  
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 This Business Cooperation Agreement (hereinafter referred to as “this Agreement”) was
signed by the following parties on October 13, 2018: 
 Party A: Zhejiang Mengxiang Consulting Services Co., Ltd., a wholly foreign-owned
enterprise legally incorporated and existing under the laws of PRC; Unified Social Credit Code: XXXXXX; Address: Building 20, No. 99, Xianglong Street, Shuige Industrial Zone (Lijing Ethnic Industrial Zone), Liandu District, Lishui City,
Zhejiang Province (hereinafter referred to as the “WFOE”). 
 Party B: Domestic Affiliates, means Zhejiang Lishui Mengxiang Education
Development Co., Ltd. and the schools of the restricted and prohibited education held by Zhejiang Lishui Mengxiang Education Development Co., Ltd. (See Annex 1, one or all of the aforementioned civil entities are referred to as “Domestic
Affiliates”). 
 Party C: Ye Fen, PRC resident; ID card number: XXXXXX; Address: XXXXXX, Wanxiang Street, Liandu District, Lishui City, Zhejiang
Province. 
 Party D: Ye Fang, PRC resident; ID card number: XXXXXX; Address: XXXXXX, Wanxiang Street, Liandu District, Lishui City, Zhejiang Province. 

Party E: Ye Hong, PRC resident; ID card number: XXXXXX; Address: XXXXXX, Liandu District, Lishui City, Zhejiang Province. 

(The above Party C to E are collectively referred to as “Lishui Mengxiang’s Shareholders”.) 

In this Agreement, WFOE, Domestic Affiliates, and Lishui Mengxiang’s Shareholders are collectively referred to as “Parties”, and each a
“Party”. 
 Whereas: 
 1. The
Parties unanimously agreed that WFOE will cooperate closely with Domestic Affiliates on technical services, management support, consulting services, public relations maintenance, market research and marketing, and other matters related to the
private education business. According to the unanimous consent of all Parties, WFOE will provide Domestic Affiliates with technical services, management support services, consulting services and intellectual property licenses required for the
conducting of private education business activities, including but not limited to the development, design, maintenance, and update of educational software, educational websites, and web pages, the design of school curricula and profession, the
compilation, selection and/or recommendation of schools textbooks, recruitment and training support of teachers and other staff, admissions support, public relations maintenance, market research and development, management and marketing consulting
and other related services. 

  
 3 

 2. The Parties unanimously agreed that the Lishui Mengxiang’s Shareholders, as the direct and/or
indirect stakeholders of Domestic Affiliates, shall take all legal and necessary measures to promote the smooth development and implementation of the cooperation between WFOE and Domestic Affiliates. 

3. The Parties unanimously agreed to sign this Agreement and prescribe the rights and obligations of WFOE and other Parties and the specific content, method,
operation and other major cooperation matters in the process of cooperation. 
 In order to clarify the rights and obligations of all Parties, this
Agreement has been entered into by the Parties through friendly negotiations for mutual observance. 
 Article I. Definition and Interpretation 

“Proposed Listing Company” means Lianwai Education Group Limited, a limited liability company incorporated under the laws of the Cayman
Islands on September 6, 2018. 
 “Lishui Mengxiang” means Zhejiang Lishui Mengxiang Education Development Co., Ltd., a limited
liability company incorporated under the laws of PRC on August 17, 2001. 
 “Lishui Mengxiang’s Shareholders” means Ms. Ye
Fen, Ms. Ye Fang and Ms. Ye Hong. 
 “Domestic Affiliates” means Zhejiang Lishui Mengxiang Education Development Co., Ltd. and
the schools of the restricted and prohibited education held by Zhejiang Lishui Mengxiang Education Development Co., Ltd., including Liandu Foreign Languages School and the kindergarten of Liandu Foreign Languages School. 

“Contractual Agreements” means this Agreement and the following agreements signed by two or more parties of this Agreement, including: the
Exclusive Call Option Agreement, the Proxy Agreement for Shareholders, the Power of Attorney for Shareholders, the Proxy Agreement for School’s Sponsor and Directors, the Power of Attorney for School’s Sponsor, the Power of Attorney for
School Directors, the Equity Pledge Agreement, the Exclusive Technical Service and Business Consulting Agreement , the Loan Agreement, including the amendments to the above agreements, and other agreements, contracts or legal documents signed or
issued from time to time by one or more Parties of this Agreement to ensure the fulfillment of the above agreements and signed in writing or recognized by WFOE.

“License” means all permissions, licenses, registrations, approvals and authorizations required for the operation of Domestic Affiliates.

 “Business” means all services and business provided or operated by Domestic Affiliates from time to time in accordance with the Licenses
they are issued, including but not limited to private education business. 

  
 4 

 “China / PRC” means the People’s Republic of China (for the purposes of this
Agreement, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan). 
 “Assets” means
all tangible and intangible assets directly or indirectly owned by Domestic Affiliates, including but not limited to all fixed assets, current assets, capital interests of foreign investment, intellectual property rights, and all available benefits
under all contracts and any other benefits that should be obtained by Domestic Affiliates. 
 Article II. Representations, Warranties and Covenants

 1. On the date of this Agreement, WFOE makes the following representations, warranties and covenants: 

a) WFOE is a foreign-invested limited liability company legally established and validly existing in accordance with the laws of PRC and has independent legal
personality; 
 b) WFOE has the right to sign and perform this Agreement, and it has obtained all necessary and appropriate approvals and authorizations for
the signing and performance of this Agreement; 
 c) This Agreement constitutes the legally valid and enforceable obligations binding on WFOE on the
effective date of this Agreement; 
 d) WFOE guarantees that it will use its best effort to provide relevant services to Domestic Affiliates in accordance
with the relevant laws, regulations, regulatory documents and the articles of association; and 
 e) WFOE’s performance of its obligations of this
Agreement does not violate the currently valid laws, regulations or rules applicable to it. Its signing and performance of this Agreement does not violate any court judgment or arbitral award, or any administrative decision, approval, license
or any other agreement under which it is a party or that is binding on it, and will not result in the suspension, revocation, confiscation or no renewal upon expiration of any approval, license of the government department applicable to it. 

2. From the date of execution this Agreement to the date of termination hereof, Domestic Affiliates shall makes the following representations, warranties and
covenants: 
 a) It is a limited liability company and/or private non-enterprise entity legally established and
validly existing in accordance with the laws of PRC and has independent legal personality; 
 b) It has the right to sign and perform this Agreement, and it
has obtained all necessary and appropriate approvals and authorizations for the signing and performance of this Agreement;

  
 5 

 c) This Agreement constitutes the legally valid and enforceable obligation binding on Domestic Affiliates on
the effective date of this Agreement; 
 d) All documents, materials and information submitted by Domestic Affiliates to WFOE before and after the signing of
this Agreement are true, complete and accurate, and there are no falsehoods, omissions or serious misleading; 
 e) The debt situation of Domestic Affiliates
disclosed by Domestic Affiliates to WFOE is true, complete and accurate; 
 f) Except for the pledge set by the equity of Domestic Affiliates due to the
Contractual Agreements and the guarantee of own debt, there are no other encumbrances or restrictions of rights on the assets and other rights held by Domestic Affiliates; 

g) Domestic Affiliates will strictly abide by the provisions under this Agreement and will not conduct any acts/inactions that will affect the validity and
enforceability of this Agreement; 
 h) The performance of its obligations of this Agreement by Domestic Affiliates does not violate the existing valid laws,
regulations, regulations applicable to it. Its signing and performance of this Agreement does not violate any court judgment or arbitral award or any administrative decision, approval, license or any other agreement under which it is a party or that
is binding on its equity or other assets, and will not result in the suspension, revocation, confiscation or no renewal upon expiration of any approval, license of the government department applicable to it. 

3. On the date of this Agreement, each of the Lishui Mengxiang’s Shareholders respectively makes the following representations, warranties and covenants:

 a) They have full civil capacity and legal capacity to enter into this Agreement and enjoy rights and undertake obligations under this Agreement; 

b) On the effective date of this Agreement, Lishui Mengxiang’s Shareholders are the legal owner of the equity of Lishui Mengxiang, and Lishui
Mengxiang’s Shareholders hold a total of 100% of the Lishui Mengxiang’s equity; 
 c) In addition to the rights restrictions set on the equity due
to the Contractual Agreements, the equity held by Lishui Mengxiang’s Shareholders in Lishui Mengxiang is free from any other encumbrances or rights restrictions;

d) This Agreement is signed by them and constitutes legal, valid and binding obligations on them; 

e) All documents, materials and information submitted by Domestic Affiliates to WFOE before and after the signing of this Agreement are true, complete and
accurate, without any falsehood, omission or serious misleading; 

  
 6 

 f) The debt situation of Domestic Affiliates disclosed by Domestic Affiliates to WFOE is true, complete and
accurate; 
 g) Lishui Mengxiang’s Shareholders will strictly abide by the terms of this Agreement and will not conduct any acts/inactions that would
affect the validity and enforceability of this Agreement; and, 
 h) Its performance of its obligations of this Agreement does not violate the currently
valid laws, regulations or rules applicable to it. Its signing and performance of this Agreement does not violate any court judgment or arbitral award, any administrative decision or any other agreement under which it is a party or that is binding
on its equity or other assets. 
 Article III. Cooperation 

1. In order to carry out comprehensive cooperation, in addition to this Agreement, at the same time as the execution of this Agreement, Parties have signed
Contractual Agreements, including but not limited to, the Exclusive Technical Service and Business Consulting Agreement, the Proxy Agreement for Shareholders, the Power of Attorney for Shareholders, the Proxy Agreement for School’s Sponsor and
Directors, the Power of Attorney for School’s Sponsor, the Power of Attorney for School Directors, the Equity Pledge Agreement, the Exclusive Call Option Agreement, and the Loan Agreement. The Parties confirmed that through the signing of the
Contractual Agreements, various business relationships have been established between WFOE and Domestic Affiliates, and WFOE will provide Domestic Affiliates with technical services, management support services, consulting services and intellectual
property licenses required for the conducting of private education business activities, including but not limited to the development, design, maintenance, and update of educational software, educational websites, and web pages, the design of school
curricula and profession, the compilation, selection and/or recommendation of schools textbooks, the recruitment and training support of teachers and other staff, admissions support, public relations maintenance, market research and development,
management and marketing consulting and other related services, and all payments shall be made by Domestic Affiliates to WFOE under such agreements. Therefore, the daily operating activities of Domestic Affiliates will have substantial impact on
their ability to pay the corresponding amount to WFOE. 
 2. All Parties unanimously agree that the comprehensive cooperation established by the Parties
through the signing of the Contractual Agreements is exclusive. Unless WFOE has agreed in writing in advance, during the valid period of the Contractual Agreements, Domestic Affiliates, Lishui Mengxiang’s Shareholders are not allowed to
negotiate with any third party or conduct any form of cooperation that competes or conflicts with or is similar to the above cooperation.

  
 7 

 3. In order to ensure the performance of the Contractual Agreements, Domestic Affiliates shall abide by the
following provisions, and if Domestic Affiliates establish any subordinate enterprises and units in the future, Domestic Affiliates shall prompt their subordinate enterprises and units to comply with the following provisions: 

a) Cautiously and effectively conduct private education activities in accordance with good financial and business standards, and maintain the asset value of
Domestic Affiliates and the teaching quality and level of private education; 
 b) Prepare its development plan and annual work plan in accordance with the
instructions of WFOE; 
 c) Engage in private education activities and other related business with the assistance of WFOE; 

d) Conduct related business, manage day-to-day operations and conduct financial
management in accordance with WFOE’ s advice, recommendations, guidelines and other business instructions; 
 e) Implement WFOE’ s advice on the
appointment and dismissal of senior management and staff; 
 f) Adopt WFOE’ s recommendations, guidelines and plans for its strategic development; 

g) Based on the purpose of developing education business, continue to operate related business and maintain the timely updates and continuous effectiveness of
the relevant licenses and permits owned by them; 
 Lishui Mengxiang’s Shareholders covenant that they will procure and ensure that the above
obligations are fulfilled. 
 4. Lishui Mengxiang’s Shareholders agree that they will ensure the person designated by WFOE to be the director of
Domestic Affiliates in accordance with the laws and regulations and the procedures stipulated in the articles of association of Domestic Affiliates, and ensure that the person recommended by WFOE to be the chairman of directors (if any) of Domestic
Affiliates, and ensure the person designated by WFOE to be the manager, the chief financial officer and other senior managements of Domestic Affiliates. 

5. If the director or senior management designated by WFOE in Article III. 4 above no longer has a labor or employment relationship with WFOE, whether by
voluntary resignation or dismissal by WFOE, it will lose the qualification to hold any position in Domestic Affiliates. In such a case, other persons designated by WFOE shall be appointed to the corresponding positions in accordance with the
provisions of Article III. 4 above. 

  
 8 

 6. For the purposes of Article III. 4 and 5 above, Domestic Affiliates shall, in accordance with the laws,
the articles of association of Domestic Affiliates and the provisions of this Agreement, take all necessary internal and external procedures of company and schools to legally complete the above dismissal and appointment. 

7. Domestic Affiliates will provide WFOE with all information on the operation and financial status of Domestic Affiliates in full compliance with the
requirements of WFOE. 
 8. If any investigation, litigation, arbitration, administrative proceedings or other legal proceedings involving the assets,
business and income of Domestic Affiliates occurs or may occur, Domestic Affiliates and Lishui Mengxiang’s Shareholders undertake to immediately notify WFOE of the above situations. 

9. Lishui Mengxiang’s Shareholders hereby confirm that they have authorized WFOE or persons designated by WFOE to exercise all voting rights held by them
as Lishui Mengxiang’s Shareholders in the shareholding meeting of Lishui Mengxiang by signing the Proxy Agreement for Shareholders and the Power of Attorney for Shareholders with WFOE. Lishui Mengxiang’s Shareholders agree that they
will provide all assistance to WFOE in exercising such rights, including but not limited to, at any time, in accordance with the requirements of WFOE, providing the Power of Attorney to the persons designated by WFOE in connection with the entrusted
matters or revoking the Power of Attorney. 
 10. Lishui Mengxiang hereby confirms that, if Domestic Affiliates are limited companies, their shareholders
have authorized WFOE or persons designated by WFOE to exercise all voting rights held by them as Domestic Affiliates’ Shareholders in the shareholding meeting of Domestic Affiliates by signing the Proxy Agreement for Shareholders and the Power
of Attorney for Shareholders with WFOE. The Shareholders of Domestic Affiliates agree that they will provide all assistance to WFOE in exercising such rights, including but not limited to, at any time, in accordance with the requirements of
WFOE, providing the Power of Attorney to the persons designated by WFOE in connection with the entrusted matters or revoking the Power of Attorney. 
 11.
Lishui Mengxiang hereby confirms that if Domestic Affiliates are private non-enterprise entities, its sponsor and the directors designated by its sponsor have authorized WFOE or the persons designated by WFOE
to exercise all the voting rights held by them as the sponsor and the directors designated by the sponsor of Domestic Affiliates in the board of directors of Domestic Affiliates by signing the Proxy Agreement for School’s Sponsor and Directors
with WFOE. The sponsor and the directors designated by the sponsor agree that they will provide all assistance to WFOE in exercising such rights, including but not limited to, at any time, in accordance with the requirements of WFOE, providing
the Power of Attorney to the persons designated by WFOE in connection with the entrusted matters or revoking the Power of Attorney. 

  
 9 

 12. Domestic Affiliates agree that, without the prior written consent of WFOE, Domestic Affiliates
shall not declare or actually distribute to the Lishui Mengxiang’s Shareholders any reasonable returns or any other incomes or benefits (regardless of its specific form); Lishui Mengxiang’s Shareholders agree, if they obtain any reasonable
returns or any other incomes or benefits (regardless of its specific form) from Domestic Affiliates, they shall, at the time of realization, transfer such incomes or benefits to WFOE without any conditions and compensation. 

13. In the event that WFOE is to be dissolved, liquidated, bankrupt or reorganized, Lishui Mengxiang’s Shareholders and Domestic Affiliates
unconditionally agree that the other persons designated by the Proposed Listing Company will inherit the rights and obligations of WFOE under the Contractual Agreements and agree to sign any necessary documents, take all necessary measures to
cooperate with the person designated by the Proposed Listing Company to realize the smooth inheritance of the aforementioned contractual rights and obligations; or Lishui Mengxiang’s Shareholders agree to, according to the instructions of the
Proposed Listing Company, legally procure the sale or disposal in other means in accordance with the instructions of Proposed Listing Company of the direct and/or indirect equity held by the Lishui Mengxiang’s Shareholders in Domestic
Affiliates, and procure the free transfer of the full price from the disposal in such means of the direct and / or indirect equity held by Lishui Mengxiang’s Shareholders in Domestic Affiliates to the Proposed Listing Company or other persons
designated by the Proposed Listing Company; or Lishui Mengxiang’s Shareholders agree to, in accordance with the instructions of the Proposed Listing Company, legally procure the sale or disposal in other means in accordance with the
instructions of Proposed Listing Company of part or all of the assets of Domestic Affiliates, and procure the free transfer of the part of the total price from the disposal of the assets of Domestic Affiliates in such legal means that shall be
attributed to the Lishui Mengxiang’s Shareholders to the Proposed Listing Company or the persons designated by the Proposed Listing Company. 

14. Lishui Mengxiang’s Shareholders agree and covenant that, in the event of the dissolution or liquidation of Domestic Affiliates, firstly, WFOE
and/or its authorized persons shall be entitled to exercise all shareholders’ and/or sponsor’ rights on behalf of the shareholders and/or sponsor of Domestic Affiliates, including but not limited to the rights to decide on the dissolution
or liquidation of Domestic Affiliates, designate and appoint members of the liquidation group of Domestic Affiliates and/or their agents, approve the liquidation plan and liquidation report; secondly, the shareholders and/or sponsor of Domestic
Affiliates agree to freely transfer to WFOE or other persons designated by the Proposed Listing Company, all property obtained or entitled to it as the shareholders and/or sponsor of Domestic Affiliates due to the dissolution or liquidation of
Domestic Affiliates, and direct the liquidation group of Domestic Affiliates to directly transfer the above property to WFOE and/or other persons designated by the Proposed Listing Company; thirdly, if in accordance with PRC laws in force at that
time, the foregoing alleged transfer shall not be free, except for the paid transfer and direct delivery according to the instructions, the sponsor and/or shareholders of Domestic Affiliates further agree to return the transfer consideration in full
and appropriate method to WFOE and/or other persons designated by the Proposed Listing Company, and guarantee that WFOE and/or other persons designated by the Proposed Listing Company are not subject to any loss. 

  
 10 

 15. If Lishui Mengxiang’s capital will be increased by Lishui Mengxiang’s Shareholders, Lishui
Mengxiang’s Shareholders agree and confirm that they shall pledge all equity corresponding to the increase in the registered capital of the Lishui Mengxiang to WFOE as the guarantee for the performance of the obligations under the Contractual
Agreements and the debt repayment. The Parties agree that Lishui Mengxiang’s Shareholders shall prepare the agreements related to the pledge of the corresponding part of the capital increase before the capital increase of Lishui Mengxiang, and
sign the Equity Pledge Agreement on the date of completion of the capital increase registration with the administrative authority for industry and commerce, and complete the equity pledge registration procedures as soon as possible. 

16. If the guarantee period specified in the Equity Pledge Agreement expires, or the guarantee period registered with the relevant pledge registration
authority expires, and the agreements other than the Equity Pledge Agreement among the Contractual Agreements are still valid, the relevant guarantors shall continue to provide guarantee for the performance of the obligations under the Contractual
Agreements and the debt repayment, and the scope of the collateral provided shall not be less than the scope of the collateral under the original guarantee contract, and such guarantees continued to be provided shall be satisfactory to WFOE and the
Proposed Listing Company, and the relevant guarantors will do their best to register the pledges and other matters with the relevant registration authorities. 

17. Lishui Mengxiang’s Shareholders and Domestic Affiliates hereby confirm and agree that, unless they have obtained the prior written consent of WFOE or
the persons designated by WFOE, Lishui Mengxiang’s Shareholders and Domestic Affiliates will not conduct or procure any activities or transactions that may materially affect the assets, business, personnel, obligations, rights of Domestic
Affiliates or operation of Domestic Affiliates, nor will they engage in or procure any activities or transactions that have the potential material effect on the ability of the Lishui Mengxiang’s Shareholders and Domestic Affiliates to perform
their obligations under the Contractual Agreements, including but not limited to: 
 a) The establishment of any subordinate enterprises and units of
Domestic Affiliates, including subsidiaries, branches and private non-enterprise entities; 
 b) Carrying out any
activities beyond the normal business scope of Domestic Affiliates or its subsidiaries or units, or change of the operation mode of Domestic Affiliates or their subsidiaries or units; 

  
 11 

 c) The merge, division, change of organizational form, dissolution, and liquidation of Domestic Affiliates
and/or their subordinate enterprises or units; 
 d) Any borrowing, loans incurred by, or the inheritance or acceptance of, or providing any guarantee for
any debt by Lishui Mengxiang’s Shareholders from or to Domestic Affiliates or their subsidiaries or units; 
 e) Any borrowing, loans incurred by, or
the inheritance or acceptance of, or providing any guarantee for any debt by Domestic Affiliates or their subsidiaries to any third party, unless such debt incurs during the ordinary course of business of Domestic Affiliates and the amount of each
debt is less than RMB 100,000 and the aggregate amount of such debts within one year does not exceed RMB300 ,000; 
 f) Alteration or dismissal of any
directors, supervisors of Domestic Affiliates or their subsidiaries or units or the alteration of any senior management personnel of Domestic Affiliates or their subsidiaries or units, including but not limited to managers, deputy managers, chief
financial officers, technical directors, school principals, heads of the kindergarten etc., or increase or decrease of the remuneration and benefits of the directors, supervisors, managers, school principals, heads of the kindergarten and other
senior management personnel of Domestic Affiliates or their subsidiaries or units, or alteration of the terms and conditions of employment of the directors, supervisors, managers, school principals, heads of the kindergarten and other senior
management personnel of Domestic Affiliates or their subsidiaries or units; 
 g) Selling, transferring, lending to, or authorizing any third party other
than WFOE or its designee to use or otherwise dispose of the assets or rights of Domestic Affiliates or their subsidiaries or units, including but not limited to the intellectual property and know-how
registered with Domestic Affiliates or their subsidiaries or units, or any assets or rights purchased by Domestic Affiliates or its subsidiaries or units from the third party, other than assets for disposed or purchased by Domestic Affiliates
required for their daily operation, with the value of the assets involved in a single transaction not exceeding RMB 100,000 and the accumulative amount not exceeding RMB 300,000 within one year. 

h) Sale of equity and/or sponsor’s equity interest in Domestic Affiliates or their subsidiaries or units to any third party other than WFOE or its
designee, or increase or decrease of the registered capital; or change of the structure of equity and/or sponsor’s equity interest of Domestic Affiliates or their subsidiaries or units in any method; 

i) Providing guarantees with the equity and/or sponsor’s equity interest, assets or rights of Domestic Affiliates or their subsidiaries or units to any
third party other than WFOE or its designees or procuring Domestic Affiliates or their subsidiaries or units to provide any other form of guarantee, or impose any other encumbrances on the equity and/or sponsor’s equity interest or the assets
owned by Domestic Affiliates or their subsidiaries or units; 
 j) Amendment, modification or revocation of the licenses of Domestic Affiliates or their
subsidiaries or units; 

  
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 k) Modification of the articles of association of Domestic Affiliates or their subsidiaries or units or
change of the business scope of Domestic Affiliates or their subsidiaries or units; 
 l) Change of the normal internal business procedures of Domestic
Affiliates or their subsidiaries or units or modification of any internal rules and regulations, including but not limited to the financial management system, the rules of procedure of the board of directors / shareholders’ meeting,
the detailed work rules for managers / other administrative leaders; 
 m) Not in accordance with the planning or recommendations of WFOE or the
Proposed Listing Company, conducting any transaction or signing any business contract with any third party related to Domestic Affiliates or its subsidiaries or units outside of the existing normal business of Domestic Affiliates or its subsidiaries
or units; 
 n) Allocating dividends, reasonable return, other payments to shareholders or sponsor of Domestic Affiliates or their subsidiaries or units in
any way; 
 o) Any activity that has or may adversely affect the daily operation, business, assets of Domestic Affiliates or their subsidiaries or units, or
the payment capacity of Domestic Affiliates or their subsidiaries or units to WFOE; 
 p) Any transaction that has or may adversely affect the cooperation
between WFOE, Lishui Mengxiang’s Shareholders, and Domestic Affiliates or their subsidiaries or units under the Contractual Agreements; and 
 q)
Transferring rights and obligations under this Agreement and other Contractual Agreements to any third party other than WFOE or the designated persons of WFOE, or the establishment or conducting of any cooperation or business relationship that is
the same or similar to this cooperation by Lishui Mengxiang’s Shareholders, Domestic Affiliates or their subsidiaries or units with any third parties. 

18. Ms. Ye Fen guarantees to WFOE that she has made all reasonable arrangements and signed all necessary documents to ensure that in the event of her
death, incapacity, limitation of capacity, divorce or other events which may affect her exercise of the (direct and / or indirect) equity interest of Lishui Mengxiang, her successor, guardian, spouse and other persons who may thereby obtain (direct
and / or indirect) equity of Lishui Mengxiang or other relevant rights, may not affect or hinder the performance of the Contractual Agreements. Related arrangements include but are not limited to: 

a) Ms. Ye Fen and her spouse unanimously agree that when the Ye Fen’s capacity is limited or incapacitated, all of her (direct and indirect) equity
interest in Lishui Mengxiang will be transferred free of charge and unconditionally to WFOE or other persons designated by the Proposed Listing Company. Ms. Ye Fen and her spouse further agree that in these circumstances, Ms. Ye Fen and
her spouse, and the guardians of Ms. Ye Fen must unconditionally and freely, at the request by WFOE or other persons designated by the Proposed Listing Company, provide all necessary assistance and support to complete the legal procedures
related to the transfer of the above equity interest; 

  
 13 

 b) Ms. Ye Fen and her spouse unanimously agree that when any of Ms. Ye Fen or her spouse dies, all
of Ms. Ye Fen’ (direct and indirect) equity interest in Lishui Mengxiang shall be freely and unconditionally transferred to WFOE or persons designated by the Proposed Listing Company and shall not be included in the scope of legal
inheritance of the deceased party. Ms. Ye Fen and her spouse unanimously agree that in these circumstances, Ms. Ye Fen and her spouse, the estate administrator of the deceased party must unconditionally and freely, at the request of WFOE
or other person designated by the Proposed Listing Company, provide all necessary assistance and support to complete the legal procedures related to the signing of the transfer of equity interest; and 

c) Ms. Ye Fen and her spouse unanimously agree that when Ms. Ye Fen divorces from her spouse, all of Ms. Ye Fen’s (direct and indirect)
equity interest in Lishui Mengxiang shall be transferred freely and unconditionally to WFOE or persons designated by the Proposed Listing Company and shall not be included into the scope of the property that needs to be divided and distributed due
to divorce. Ms. Ye Fen and her spouse unanimously agree that in these circumstances, Ms. Ye Fen and her spouse must unconditionally and freely perform all necessary assistance and support at the request of WFOE or other persons designated
by the Proposed Listing Company to complete the legal procedures related to the signing of the transfer of equity interest. 
 19. Ms. Ye Fang
guarantees to WFOE that she has made all reasonable arrangements and signed all necessary documents to ensure that in the event of her death, incapacity, limitation of capacity, divorce or other events which may affect her exercise of the (direct
and / or indirect) equity interest of Lishui Mengxiang, her successor, guardian, spouse and other persons who may thereby obtain (direct and / or indirect) equity of Lishui Mengxiang or other relevant rights, may not affect or hinder the performance
of the Contractual Agreements. Related arrangements include but are not limited to: 
 a) Ms. Ye Fang and her spouse unanimously agree that when
the Ye Fang’s capacity is limited or incapacitated, all of her (direct and indirect) equity interest in Lishui Mengxiang will be transferred free of charge and unconditionally to WFOE or other persons designated by the Proposed Listing Company.
Ms. Ye Fang and her spouse further agree that in these circumstances, Ms. Ye Fang and her spouse, and the guardians of Ms. Ye Fang must unconditionally and freely, at the request by WFOE or other persons designated by the Proposed
Listing Company, provide all necessary assistance and support to complete the legal procedures related to the transfer of the above equity interest; 
 b)
Ms. Ye Fang and her spouse unanimously agree that when any of Ms. Ye Fang or her spouse dies, all of Ms. Ye Fang’ (direct and indirect) equity interest in Lishui Mengxiang shall be freely and unconditionally transferred to WFOE
or persons designated by the Proposed Listing Company and shall not be included in the scope of legal inheritance of the deceased party. Ms. Ye Fang and her spouse unanimously agree that in these circumstances, Ms. Ye Fang and her
spouse, the estate administrator of the deceased party must unconditionally and freely, at the request of WFOE or other person designated by the Proposed Listing Company, provide all necessary assistance and support to complete the legal procedures
related to the signing of the transfer of equity interest; and 

  
 14 

 c) Ms. Ye Fang and her spouse unanimously agree that when Ms. Ye Fang divorces from her spouse,
all of Ms. Ye Fang’s (direct and indirect) equity interest in Lishui Mengxiang shall be transferred freely and unconditionally to WFOE or persons designated by the Proposed Listing Company and shall not be included into the scope of the
property that needs to be divided and distributed due to divorce. Ms. Ye Fang and her spouse unanimously agree that in these circumstances, Ms. Ye Fang and her spouse must unconditionally and freely perform all necessary assistance and
support at the request of WFOE or other persons designated by the Proposed Listing Company to complete the legal procedures related to the signing of the transfer of equity interest. 

20. Ms. Ye Hong guarantees to WFOE that she has made all reasonable arrangements and signed all necessary documents to ensure that in the event of her
death, incapacity, limitation of capacity, divorce or other events which may affect her exercise of the (direct and / or indirect) equity interest of Lishui Mengxiang, her successor, guardian, spouse and other persons who may thereby obtain (direct
and / or indirect) equity of Lishui Mengxiang or other relevant rights, may not affect or hinder the performance of the Contractual Agreements. Related arrangements include but are not limited to: 

a) Ms. Ye Hong and her spouse unanimously agree that when the Ye Hong’s capacity is limited or incapacitated, all of her (direct and indirect) equity
interest in Lishui Mengxiang will be transferred free of charge and unconditionally to WFOE or other persons designated by the Proposed Listing Company. Ms. Ye Hong and her spouse further agree that in these circumstances, Ms. Ye Hong and
her spouse, and the guardians of Ms. Ye Hong must unconditionally and freely, at the request by WFOE or other persons designated by the Proposed Listing Company, provide all necessary assistance and support to complete the legal procedures
related to the transfer of the above equity interest; 
 b) Ms. Ye Hong and her spouse unanimously agree that when any of Ms. Ye Hong or her spouse
dies, all of Ms. Ye Hong’ (direct and indirect) equity interest in Lishui Mengxiang shall be freely and unconditionally transferred to WFOE or persons designated by the Proposed Listing Company and shall not be included in the scope
of legal inheritance of the deceased party. Ms. Ye Hong and her spouse unanimously agree that in these circumstances, Ms. Ye Hong and her spouse, the estate administrator of the deceased party must unconditionally and freely, at the
request of WFOE or other person designated by the Proposed Listing Company, provide all necessary assistance and support to complete the legal procedures related to the signing of the transfer of equity interest; and 

c) Ms. Ye Hong and her spouse unanimously agree that when Ms. Ye Hong divorces from her spouse, all of Ms. Ye Hong’s (direct and indirect)
equity interest in Lishui Mengxiang shall be transferred freely and unconditionally to WFOE or persons designated by the Proposed Listing Company and shall not be included into the scope of the property that needs to be divided and distributed due
to divorce. Ms. Ye Hong and her spouse unanimously agree that in these circumstances, Ms. Ye Hong and her spouse must unconditionally and freely perform all necessary assistance and support at the request of WFOE or other persons
designated by the Proposed Listing Company to complete the legal procedures related to the signing of the transfer of equity interest. 

  
 15 

 21. Lishui Mengxiang’s Shareholders assure to WFOE that, unless prior written consent of WFOE has
been obtained, Lishui Mengxiang’s Shareholders (whether individually or collectively) will not directly or indirectly engage, participate in or conduct any business or activity which compete or potentially compete with the business of Domestic
Affiliates and their subsidiaries and units, and will not acquire or hold business competitive or potentially competitive with the business of Domestic Affiliates and their subsidiaries and units, and will not use information obtained from Domestic
Affiliates and their subsidiaries and units to engage in or directly or indirectly participate in businesses competitive or potentially competitive with the business of Domestic Affiliates and their affiliates and units, and will not benefit from
any business competitive or potentially competitive with the business of Domestic Affiliates and their affiliates and units.
 22. Lishui Mengxiang’s
Shareholders confirm and agree, if Lishui Mengxiang’s Shareholders (whether individually or collectively), directly or indirectly engage, participate in or conduct any business or activity that competes or may compete with the business of
Domestic Affiliates and their subsidiaries and units, then WFOE and/or other entities designated by the Proposed Listing Company shall enjoy an option free of charge, requiring (i) a legal entity engaged in the competitive business to sign with
WFOE and/or other entities designated by the Proposed Listing Company in a timely manner full set of agreements arrangements similar to the Contractual Agreements, the consideration must be negotiated and determined by the Parties based on the fair
and reasonable principles and the valuation of third-party professional appraisers and the applicable laws and regulation and the mechanism and procedure of listing rules; or (ii) cease to engage in such competitive business. WFOE and/or
the Proposed Listing Company have the right to decide whether to require the legal entity that is engaged in the competitive business to sign a full set of agreements similar to the Contractual Agreements with WFOE and/or other entities designated
by the Proposed Listing Company within a reasonable time after obtaining written notice from Lishui Mengxiang’s Shareholders. If WFOE and/or other entities designated by the Proposed Listing Company choose to exercise rights under
subsection (i), Lishui Mengxiang’s Shareholders shall procure and ensure that the legal entity engaged in the competitive business signs a full set of agreement arrangements similar to the Contractual Agreements with WFOE in a timely manner; If
WFOE and/or other entities designated by the Proposed Listing Company choose to exercise rights under subsection (ii), then Lishui Mengxiang’s Shareholders shall terminate such competitive business in an appropriate manner within a reasonable
time to eliminate the inter-industry competition among Lishui Mengxiang’s Shareholders, the Proposed Listing Company and WFOE . 
 23. Lishui
Mengxiang’s Shareholders and Domestic Affiliates assure to WFOE that they will not take any action or inaction that may be contrary to the purpose and intention of the Contractual Agreements, which leads to or may lead to the conflict of
interest among WFOE and Lishui Mengxiang’s Shareholders and Domestic Affiliates and their subsidiaries and units. If Lishui Mengxiang’s Shareholders, Domestic Affiliates and WFOE conflict in the implementation of the Contractual
Agreements, Lishui Mengxiang’s Shareholders, Domestic Affiliates will safeguard the legitimate interests of WFOE in the Contractual Agreements and obey WFOE’ s instructions in accordance with the laws.

  
 16 

 24. Lishui Mengxiang’s Shareholders confirm to WFOE, after the full investment of all capital
contributions by the Lishui Mengxiang’s Shareholders to Lishui Mengxiang, such capital contribution shall be the assets of Lishui Mengxiang, Lishui Mengxiang’s Shareholders shall not, under any circumstances, require Lishui Mengxiang to
repay the capital contribution and will not require for WFOE’ s compensation for the capital contribution. 
 25. Lishui Mengxiang’s
Shareholders unanimously agree that their rights and obligations under the Contractual Agreements are an indivisible ancillary part of the equity of Lishui Mengxiang, unless otherwise directed by WFOE, the obtaining and/or exercise of the equity of
Lishui Mengxiang by any means (including but not limited to transfer, property division, inheritance, guardianship, agency) by any person is considered as the recognition and acceptance of the corresponding rights and obligations under the
Contractual Agreements, as if such person has signed the Contractual Agreements. If such person brings up any disapproval, objections or other reservations to the corresponding rights and obligations under the Contractual Agreements, then any
such acts or inactions that conflict with the Contractual Agreements are invalid and, WFOE reserves the legal right to recover the losses thereby caused to WFOE. 

26. Lishui Mengxiang agrees that its rights and obligations under the Contractual Agreements are an indivisible ancillary part of sponsor’s equity
interest held by it in its Liandu Foreign Languages School and the Kindergarten of Liandu Foreign Languages School , unless otherwise directed by WFOE, the obtaining and/or exercise of such sponsor’s equity interest by any means (including but
not limited to transfer, merger, division, bankruptcy management, dissolution, liquidation, property escrow, agency) by any person is deemed as the recognition and acceptance of the corresponding rights and obligations under the Contractual
Agreements, as if such person has signed the Contractual Agreements. If such person brings up any disapproval, objections or other reservations to the corresponding rights and obligations under the Contractual Agreements, then any such acts or
inactions that conflict with the Contractual Agreements are invalid and, WFOE reserves the legal right to recover the losses thereby caused to WFOE. 

  
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 Article IV. Financial Management and Payment of Fees 

1. Service Fees 
 a) WFOE provides Domestic Affiliates with
exclusive technical services and exclusive management consulting services required for private education activities in accordance with the provisions of this agreement and the Exclusive Technical Service and Business Consulting Agreement, including
but not limited to the development, design, maintenance, and update of educational software, educational websites, and web pages, the design of school curricula and profession, the compilation, selection and/or recommendation of schools textbooks,
the recruitment and training support of teachers and other staff, admissions support, public relations maintenance, market research and development, management and marketing consulting and other related services. As a consideration, Domestic
Affiliates shall pay technical services fees, management and consulting services fees to WFOE in accordance with relevant agreements. (The above fees are collectively referred to as “Service Fees”); 

b) For details of the accounting, confirmation and payment of Service Fees, please refer to the relevant provisions of “Article V. Service Fees”
of the Exclusive Technical Service and Business Consulting Agreement. 
 2. Financial Statements 

Domestic Affiliates shall adopt an accounting system established and implemented in accordance with sound business practices, and prepare financial statements
of Domestic Affiliates and their subsidiaries and units that meet the requirements of WFOE and shall deliver them to WFOE within 3 business days from the date of completion of the preparation of these financial statements and other financial
reports. 
 3. Audit 
 Domestic Affiliates shall allow
WFOE, the Proposed Listing Company and/or its designated auditors, under reasonably notification, to audit the relevant accounting books and records of Domestic Affiliates and their subsidiaries and units at the principal office of Domestic
Affiliates, and to copy the required parts of the accounting books and records to verify the income amount for any period and the accuracy of the statements. For this purpose, Domestic Affiliates agree to provide relevant information and materials
concerning the operations, business, customers, finances, employees, etc. of Domestic Affiliates and their subsidiaries and units, and agree that the Proposed Listing Company shall disclose such information and materials in order to meet the
requirements of securities regulation of the place in which it intends to be listed. 
 Article V. Liability for Breach of Contract 

1. Any Party that violates the provisions of this Agreement and other Contractual Agreements and make all or part of this Agreement or other Contractual
Agreements unenforceable, shall be liable for breach of contract, continue actual performance and indemnify the other Parties for the losses caused thereby (including litigation fees and attorney fees caused thereby). 

  
 18 

 2. The Parties agree that, subject to the applicable laws, WFOE has the right to claim to the court or
arbitration institution that has jurisdiction over the breach of contract by Lishui Mengxiang’s Shareholders and Domestic Affiliates under the Contractual Agreements for statutory relief or other remedies related to the equity or land or other
assets held by the defaulting party, including but not limited to the transfer of equity and/or sponsor’s equity interest of Domestic Affiliates and their subsidiaries and units or the compulsory transfer of assets by Lishui Mengxiang’s
Shareholders, Domestic Affiliates and their subsidiaries and units, or the order to dissolve or liquidate Domestic Affiliates and their subsidiaries and units to compensate for the loss of WFOE. 

Article VI. Governing Laws and Dispute Resolution 

1. Change of Law 
 At any time after the date of this Agreement,
with respect to the enactment or revision of any PRC laws, regulations or rules, or due to changes in the interpretation or application of such laws, regulations or rules, the following provisions shall apply: 

a) If the above changes or new rules are more favorable to any Party than the relevant laws, regulations, decrees or regulations in effect on the date of
signing this Agreement (and the other Parties are not seriously adversely affected), under the coordination of WFOE, the Parties shall timely modify the Contractual Agreements to obtain the benefits arising from such changes or new regulations; or
the Parties shall apply in time for the benefits of such changes or new regulations, and the Parties shall use their best efforts to obtain the approval of the application; and 

b) If due to the above changes or new regulations, the economic interests of any Party under this Agreement are directly or indirectly adversely affected, this
Agreement shall continue to be executed in accordance with the original terms. Each Party shall use all legal means to obtain an exemption from compliance with the change or regulations. If the adverse effects on the economic interests of
any Party cannot be resolved in accordance with the provisions of this Agreement, after the affected Party notifies the other Parties, the Parties shall promptly consult under the coordination of WFOE and make all necessary modifications to the
Contractual Agreements to maintain the economic interests of the affected Party under this Agreement. 
 2. PRC laws shall apply to the conclusion, validity,
interpretation, performance, modification and termination of this Agreement and the resolution of disputes. 
 3. Any conflict, dispute or claim arising out
of or in connection with the performance, interpretation, breach of contract, termination or validity of this Agreement or this Agreement shall be settled through friendly negotiation. The consultation shall begin immediately after a written
request for negotiation with specific statement of the dispute or claim has been sent to the other Parties. 

  
 19 

 4. If the dispute cannot be resolved within thirty (30) days of the delivery of the above notice, any
Party shall have the right to submit the dispute to arbitration for settlement. The parties agree to submit the dispute to the China International Economic and Trade Arbitration Commission in Beijing for an arbitral award in accordance with the
arbitration rules in force at that time. The arbitral award is final and is legally binding on all parties. The arbitration commission is entitled to award or compensate WFOE for the losses caused by the other parties’ breach of this
Agreement in respect of equity interest, property interest or other assets of Domestic Affiliates, or to issue corresponding injunctions (for the need of conducting business or compulsory transfer of assets), or adjudication of the dissolution and
liquidation of the Domestic Affiliates. After the arbitration award takes effect, any Party has the right to apply to the court with jurisdiction to enforce such an arbitration award. 

5. Upon the request of a party to the dispute, a court of competent jurisdiction shall have the power to grant interim relief to support the conduct of the
arbitration before the lawful constitution of the arbitral tribunal or in appropriate circumstances, such as through the detention or freezing of judgments or rulings on the equity interests, property interests or other assets held by the breaching
party. In addition to the courts of China, the courts of Hong Kong and Cayman Islands, the court where the main assets of the Proposed Listing Company are located, and the court where the main assets of Domestic Affiliates are located shall also be
deemed to have jurisdiction for the above purposes. 
 6. During the arbitration period, other than obligations related to the disputes submitted to the
arbitration, the Parties to this Agreement shall continue to perform their other obligations under this Agreement. 
 7. Any rights, powers and remedies
given to the Parties under any provision of this Agreement shall not exclude any other rights, powers or remedies that the Party may have in accordance with laws and regulations and other terms of this Agreement, and the exercising of such rights,
powers and remedies by one Party does not exclude the exercise of other rights, powers and remedies available to such Party. 
 8. A Party’s failure to
exercise or delay of the exercise of any rights, powers and remedies (hereinafter referred to as “Rights of Such Party”) under this Agreement or the laws will not result in the waiver of the Rights of Such Party, and any single or
partial waiver of the Rights of Such Party does not exclude such Party’s exercise of the Rights of Such Party in other ways and the exercise of other Rights of Such Party. 

  
 20 

 Article VII. Confidentiality 

1. The Parties acknowledge and determine that any oral or written information exchanged with respect to this Agreement is confidential. All Parties shall
keep all such information confidential and shall not disclose any relevant information to any third party without the prior written consent of the other Parties, except in the following cases: 

a) The public is aware of or will be aware of such information (not due to the disclosure to the public by one of the recipients without authorization); 

b) Information required to be disclosed in accordance with applicable laws and regulations or the rules or regulations of the stock exchange; or 

c) Information required to be disclosed by any Party to its legal or financial adviser for the transactions described in this Agreement and the legal or
financial adviser is also subject to confidentiality obligations similar to those of this Article. 
 2. The leak of the secrets of the staff of any Party or
the institution a Party employs shall be deemed to be the leak by such Party, and the Party shall be liable for breach of contract in accordance with this Agreement. 

3. The Parties agree that the confidentiality provisions of this Article VII will continue to be valid irrespective of whether this Agreement is invalid,
altered, discharged, terminated or not operational. 
 Article IIX. Severability 

1. If any one or more of the provisions of this Agreement are held to be invalid, illegal or unenforceable in any way under any laws or regulations, the
validity, legality or enforceability of the other provisions of this Agreement shall not be thereby subject to any influence or damage. All Parties shall, through good faith consultations, seek to replace those invalid, illegal or unenforceable
provisions with valid provisions to the greatest extent expected by the Parties and within the permission of laws, and the economic effects such effective provisions produce shall be similar to those invalid, illegal or unenforceable provisions.

  
 21 

 Article IX. Term 

1. This Agreement shall become effective on the date on which the Parties sign this Agreement, and shall automatically terminate when WFOE and/or other civil
entities designated by the Proposed Listing Company have fully exercised their options to purchase all the (direct and indirect) equity held by Lishui Mengxiang’s Shareholders in Domestic Affiliates in accordance with the Exclusive Call Option
Agreement entered into on the date of this Agreement with Domestic Affiliates and Lishui Mengxiang’s Shareholders. WFOE may terminate this Agreement unilaterally after notice in thirty (30) days advance. Unless otherwise required by laws,
in any case, Domestic Affiliates and Lishui Mengxiang’s Shareholder have no right to terminate or discharge this Agreement unilaterally. 
 2. For the
avoidance of doubt, according to the Exclusive Call Option Agreement, if the PRC laws and regulations permit WFOE and/or other foreign or overseas entities designated by the Proposed Listing Company to directly hold part or all of the equity and/or
sponsor’s equity interest of Domestic Affiliates, and in the case of conducting restricted / prohibited business such as private education business through Domestic Affiliates, WFOE shall issue a notice of equity purchase within the fastest
possible time, and the equity purchaser shall purchase the amount of (direct and indirect) equity from Lishui Mengxiang’s Shareholders no less than the maximum amount of equity permitted to be held by WFOE and/or other foreign or overseas
entities designated by the Proposed Listing Company in Domestic Affiliates under the PRC laws at that time. This Agreement shall automatically terminate when the equity purchasers have fully exercised their options to purchase all the (direct and
indirect) equity held by Lishui Mengxiang’s Shareholders in Domestic Affiliates in accordance with the Exclusive Call Option Agreement. 
 Article
X. Amendment 
 1. By agreement between the Parties to the Agreement and approval by the shareholders(or shareholders’ meeting) of WFOE, the Parties
to the Agreement may modify or supplement this Agreement and take all necessary steps and actions, and bear the corresponding expenses, so that any modification or supplement can be legally valid. 

2. If the Stock Exchange of Hong Kong Ltd. (hereinafter referred to as “HKEX”) or other regulatory authorities make any amendments to this
Agreement, or listing rules of HKEX or relevant requirements produce any changes related to this Agreement, the Parties shall revise this Agreement accordingly. 

  
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 Article XI. Force Majeure 

1. If the liability of the Parties under this Agreement shall not be fulfilled due to the event of force majeure, and the liability under this Agreement will
be waived within the scope of force majeure. For the purposes of this Agreement, force majeure events include only natural disasters, storms, tornadoes and other weather conditions, strikes, closures/shutdowns or other industry issues, wars,
riots, conspiracy, enemy acts, terrorist acts or criminal organizations acts, blockades, serious illnesses or plagues, earthquakes or other crustal movements, floods and other natural disasters, bomb explosions or other explosions, fires, accidents,
or government actions that result in failure to comply with this Agreement. 
 2. In the event of a force majeure event, the Party affected by the force
majeure event shall endeavor to reduce and remove the effects of the force majeure event and assume the responsibility of performing the delayed and blocked obligations under the Agreement. After the event of force majeure is resolved, the
Parties agree to continue to perform this Agreement as far as possible. 
 3. In the event of a force majeure event that may result in delays, prevention or
threats to delay or prevent the performance of this Agreement, the relevant Parties shall immediately notify the other Parties in writing and provide all relevant information. 

Article XII. Change of Circumstances 
 1. If at any time,
due to the enactment or revision of any PRC laws, regulations or rules, or due to changes in the interpretation or application of such laws, regulations or rules, or due to changes in the registration procedures, which makes WFOE believe that the
maintenance of this Agreement in effect and the performance of this Agreement becomes illegal or contrary to such laws, regulations or rules, Lishui Mengxiang’s Shareholders and Domestic Affiliates shall immediately, following the written
instructions of WFOE and take any action and/or sign any agreement or other documents in accordance with the requirements of WFOE to: 
 (a) keep this
Agreement valid; and/or 
 (b) fulfill the intent and purpose of this Agreement by ways prescribed under this Agreement or by other means. 

  
 23 

 Article XIII. Miscellaneous 

1. To the extent permitted by the PRC Laws, WFOE is entitled to designate another entity (such as the foreign-invested enterprise established by the Proposed
Listing Company in the PRC) acknowledged by the Proposed Listing Company to execute and perform an agreement with the other Parties hereto whose terms and conditions shall be the same as the terms and conditions of the Contractual Agreements, and
the other Parties hereto shall provide unconditional cooperation and support. This Agreement shall automatically terminate from the effective date of the foregoing agreement. 

2. The Parties agree that, to the extent permitted by the PRC laws, WFOE may transfer its rights and obligations under this Agreement to other third parties as
it may require. WFOE is only required to give written notice to the other Parties at the time of the transfer and no further consent is required from such other Parties. 

3. The Parties agree that, without WFOE’s prior written consent, Domestic Affiliates and Lishui Mengxiang’s Shareholders shall not transfer their
rights and obligations under this Agreement to any other party. 
 4. In any case, if any equity of Lishui Mengxiang are transferred to any third party other
than Lishui Mengxiang’s Shareholders, Lishui Mengxiang’s Shareholders are obliged to make the relevant transferee accept the rights and obligations under the Contractual Agreements in writing and be bound by these rights and obligations.

 5. In any case, if the shareholders’ rights and/or sponsor’s equity interest of Domestic Affiliates are transferred to any third party other
than the existing shareholders and/or sponsor of Domestic Affiliates, Lishui Mengxiang’s Shareholders and the existing shareholder and/or sponsor of Domestic Affiliates are obliged to make the relevant transferee accept the rights and
obligations under the Contractual Agreements in writing and be bound by these rights and obligations. 
 6. This Agreement is drafted in Chinese and in seven
counterparts, each of which shall be held by each Party to this agreement and has the same legal effect. 
 (Signature Pages Follow)

  
 24 

 (This page is the Signature Page one (1) of the Business Cooperation Agreement, and is left blank
intentionally.) 
  

			
	Liandu Foreign Languages School (seal)
		
	        	 	Signature of legal representative/authorized representative:
		
		 	 /s/

  

			
	The Kindergarten of Liandu Foreign Languages School (seal)
		
	        	 	Signature of legal representative/authorized representative:
		
		 	 /s/

  

			
	Zhejiang Lishui Mengxiang Education Development Co., Ltd. (seal)
		
	        	 	Signature of legal representative/authorized representative:
		 	 /s/

  

			
	Zhejiang Mengxiang Consulting Service Co., Ltd. (seal)
		
	        	 	Signature of legal representative/authorized representative:
		 	 /s/

  
 25 

 (This page is the Signature Page two (2) of the Business Cooperation Agreement, and is left blank
intentionally.) 
  

			
	Ye Fen
		
	        	 	 /s/

  

			
	Ye Fang
		
	        	 	 /s/

  

			
	Ye Hong
		
	        	 	 /s/

  
 26 

 Annex 1: Domestic Affiliates 

1. Liandu Foreign Languages School. 
 2. The Kindergarten of
Liandu Foreign Languages School. 
 3. Zhejiang Lishui Mengxiang Education Development Co., Ltd. 

  
 27

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