Document:

EX-10.3

 Exhibit 10.3 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
            , 2019 by and between GSX TECHEDU INC., an exempted company incorporated and existing under the laws of the Cayman Islands (the “Company”) and
                     (ID Card No.
                    ) (the “Executive”). 

RECITALS 
 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 the Agreement; 

WHEREAS, the Executive desires to be employed by the Company during the term of Employment and under the terms and conditions of the Agreement; 

AGREEMENT 
 NOW, THEREFORE, in
consideration of the premises and the mutual covenants and agreements herein contained, the Company and the Executive agree as follows: 
  

	1.	 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”). 
  

	2.	 TERM 

Subject to the terms and conditions of the Agreement, the initial term of the Employment shall be
         years, commencing on             , 2019 (the “Effective Date”) and ending on
            ,      (the “Initial Term”), unless terminated earlier pursuant to the terms of the Agreement. Upon expiration of the Initial Term of the
Employment, the Employment shall be automatically extended for successive periods of              months each (each, an “Extension Period”) unless either party shall have
given 60 days advance written notice to the other party, in the manner set forth in Section 19 below, prior to the end of the Initial Term or the Extension Period in question, as applicable, that the term of this Agreement that is in effect at
the time such written notice is given is not to be extended or further extended, as the case may be (the period during which this Agreement is effective being referred to hereafter as the “Term”). 

 

	3.	 POSITION AND DUTIES 

 

	 	(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 affiliates 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. 

	 	(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 entity 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 the Agreement and the guidelines, policies and procedures of the Company approved from time to time by the Board. 

 

	4.	 NO BREACH OF CONTRACT 

The Executive hereby represents to the Company that: (i) the execution and delivery of the Agreement by the Executive and the performance
by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or by which the Executive is otherwise bound, except
that the Executive does not make any representation with respect to agreements required to be entered into by and between the Executive and any member of the Group pursuant to the applicable law of the jurisdiction in which the Executive is based,
if any; (ii) that the Executive is not in possession of any information (including, without limitation, confidential information and trade secrets) the knowledge of which would prevent the Executive from freely entering into the Agreement and
carrying out his/her duties hereunder; and (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement with any person or entity other than any member of the Group. 

 

	5.	 LOCATION 

The Executive will be based in             ,      or any other
location as requested by the Company during the Term. 
  

	6.	 COMPENSATION AND BENEFITS 

 

	 	(a)	 Cash Compensation. As compensation for the performance by the Executive of his/her obligations
hereunder, during the Term, the Company shall pay the Executive cash compensation (inclusive of the statutory benefit contributions that the Company is required to set aside for the Executive under applicable law) pursuant to Schedule A
hereto, subject to annual review and adjustment by the Board or any committee designated by the Board. 

  
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	 	(b)	 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. 

  

	 	(c)	 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. 

  

	7.	 TERMINATION OF THE AGREEMENT 

The Employment may be terminated as follows: 
  

	 	(a)	 Death. The Employment shall terminate upon the Executive’s death. 

 

	 	(b)	 Disability. The Employment shall terminate if the Executive has a disability, including any physical or
mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions of his/her position at the Company, even with reasonable accommodation that does not impose an undue burden on the
Company, for more than 180 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer period shall apply. 

 

	 	(c)	 Cause. The Company may terminate the Executive’s employment hereunder for Cause. The occurrence of
any of the following, as reasonably determined by the Company, shall be a reason for Cause, provided that, if the Company determines that the circumstances constituting Cause are curable, then such circumstances shall not constitute Cause unless and
until the Executive has been informed by the Company of the existence of Cause and given an opportunity of ten business days to cure, and such Cause remains uncured at the end of such ten-day period:

  

	 	(1)	 continued failure by the Executive to satisfactorily perform his/her duties; 

 

	 	(2)	 willful misconduct or gross negligence by the Executive in the performance of his/her duties hereunder,
including insubordination; 

  

	 	(3)	 the Executive’s conviction or entry of a guilty or nolo contendere plea of any felony or any
misdemeanor involving moral turpitude; 

  

	 	(4)	 the Executive’s commission of any act involving dishonesty that results in material financial,
reputational or other harm, monetary or otherwise, to any member of the Group, including but not limited to an act constituting misappropriation or embezzlement of the property of any member of the Group as determined in good faith by the Board; or

  
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	 	(5)	 any material breach by the Executive of this Agreement. 

 

	 	(d)	 Good Reason. The Executive may terminate his/her employment hereunder for “Good Reason” upon
the occurrence, without the written consent of the Company, of an event constituting a material breach of this Agreement by the Company that has not been fully cured within ten business days after written notice thereof has been given by the
Executive to the Company setting forth in sufficient detail the conduct or activities the Executive believes constitute grounds for Good Reason, including but not limited to: 

 

	 	(1)	 the failure by the Company to pay to the Executive any portion of the Executive’s current compensation or
to pay to the Executive any portion of an installment of deferred compensation under any deferred compensation program of the Company, within 20 business days of the date such compensation is due; or 

 

	 	(2)	 any material breach by the Company of this Agreement. 

 

	 	(e)	 Without Cause by the Company; Without Good Reason by the Executive. The Company may terminate the
Executive’s employment hereunder at any time without Cause upon 60-day prior written notice to the Executive. The Executive may terminate the Executive’s employment voluntarily for any reason or no
reason at any time by giving 60-day prior written notice to the Company. 

  

	 	(f)	 Notice of Termination. Any termination of the Executive’s employment under the Agreement shall be
communicated by written notice of termination (“Notice of Termination”) from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of the Agreement relied upon in effecting the
termination. 

  

	 	(g)	 Date of Termination. The “Date of Termination” shall mean (i) the date set forth
in the Notice of Termination, or (ii) if the Executive’s employment is terminated by the Executive’s death, the date of his/her death. 

  

	 	(h)	 Compensation upon Termination. 

 

	 	(1)	 Death. If the Executive’s employment is terminated by reason of the Executive’s death, the
Company shall have no further obligations to the Executive under this Agreement and the Executive’s benefits shall be determined under the Company’s retirement, insurance and other benefit and compensation plans or programs then in effect
in accordance with the terms of such plans and programs. 

  
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	 	(2)	 By Company without Cause or by the Executive for Good Reason. If the Executive’s employment is
terminated by the Company other than for Cause or by the Executive for Good Reason, the Company shall (i) continue to pay and otherwise provide to the Executive, during any notice period, all compensation, base salary and previously earned but
unpaid incentive compensation, if any, and shall continue to allow the Executive to participate in any benefit plans in accordance with the terms of such plans during such notice period; and (ii) pay to the Executive, in lieu of benefits under
any severance plan or policy of the Company, any such amount as may be agreed between the Company and the Executive. 

  

	 	(3)	 By Company for Cause or by the Executive other than for Good Reason. If the Executive’s employment
shall be terminated by the Company for Cause or by the Executive other than for Good Reason, the Company shall pay the Executive his/her base salary at the rate in effect at the time Notice of Termination is given through the Date of Termination,
and the Company shall have no additional obligations to the Executive under this Agreement. 

  

	 	(i)	 Return of Company 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 (as defined below) or Intellectual Property (as defined below), 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. 

  

	 	(j)	 Requirement for a Release. Notwithstanding the foregoing, the Company’s obligations to pay or
provide any benefits shall (1) cease as of the date the Executive breaches any of the provisions of Sections 8, 9 and 11 hereof, and (2) 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. 

  

	8.	 CONFIDENTIALITY AND NONDISCLOSURE 

 

	 	(a)	 Confidentiality and Non-Disclosure. 

 

	 	(1)	 The Executive acknowledges and agrees that: (A) 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 valuable and sensitive information, material, and devices relating to the Company and/or its business, activities, products,
services, customers and vendors, including, but not limited to, the following, regardless of the form in which the same is accessed, maintained or stored: the identity of the Company’s actual and prospective customers and, as applicable, their
representatives; prior, current or future research or development activities of the Company; the products and services provided or offered by the Company to customers or potential customers and the manner in which such services are performed or to
be performed; the product and/or service needs of actual or prospective customers; pricing and cost information; information concerning the development, engineering, design, specifications, acquisition or disposition of products and/or services of
the Company; user base personal data, programs, software and source codes, licensing information, personnel information, advertising client information, vendor information, marketing plans and techniques, forecasts, and other trade secrets
(“Confidential Information”); and (B) the 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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	 	(2)	 During the Term and at all times thereafter, the Executive shall not, directly or indirectly, whether
individually, as a director, stockholder, 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. 

  

	 	(3)	 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. 

 

	 	(4)	 The failure to mark any Confidential Information as confidential shall not affect its status as Confidential
Information under this Agreement. 

  

	 	(c)	 Third Party Information in the Executive’s Possession. The Executive agrees that he/she shall not,
during the Term, (i) 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 (ii) 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.
The Executive will 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
the foregoing. 

  
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	 	(d)	 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. 

This Section 8 shall survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 8, the
Company shall have right to seek remedies permissible under applicable law. 
  

	9.	 INTELLECTUAL PROPERTY 

 

	 	(a)	 Prior Inventions. The Executive has attached hereto, as Schedule B, a list describing all
inventions, ideas, improvements, designs and discoveries, whether or not patentable and whether or not reduced to practice, 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 (i) were developed by Executive prior to the Executive’s employment by the Company (collectively, “Prior Inventions”), (ii) relate to the Company’ actual or proposed business,
products or research and development, and (iii) are not assigned to the Company hereunder; 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. 

(b)    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 (within the United States and all foreign jurisdictions) 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 (i) are related to the Company’s current or anticipated business, activities, products, or services, (ii) result from any work performed by Executive for the Company, or (iii) 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 (“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” shall
mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary rights protection legally available. 

  
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	 	(c)	 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 right 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. 

 This Section 9 shall
survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 9, the Company shall have right to seek remedies permissible under applicable law. 

 

	10.	 CONFLICTING EMPLOYMENT 

The Executive hereby agrees that, during the Term, he/she will not engage in any other employment, occupation, consulting or other business
activity related to the business in which the Company is now involved or becomes involved during the Term, nor will the Executive engage in any other activities that conflict with his/her obligations to the Company without the prior written consent
of the Company. 

  
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	11.	 NON-COMPETITION AND
NON-SOLICITATION 

  

	 	(a)	 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 agree that during the Term and for a period of one year following the termination of the Employment for whatever reason, the
Executive shall not engage in Competition (as defined below) with the Group. For purposes of this Agreement, “Competition” by the Executive shall mean the Executive’s engaging in, or otherwise directly or indirectly being employed by
or acting as a consultant or lender to, or being a director, officer, employee, principal, agent, stockholder, member, owner or partner of, or permitting the Executive’s name to be used in connection with the activities of, any other business
or organization which competes, directly or indirectly, with the Group in the Business; provided, however, it shall not be a violation of this Section 11(a) for the Executive to become the registered or beneficial owner of up to
five percent (5%) of any class of the capital stock of a publicly traded corporation in Competition with the Group, provided that the Executive does not otherwise participate in the business of such corporation. 

For purposes of this Agreement, “Business” means the operation of e-commerce platform
and provision of related services and any other business which the Group engages in, or is preparing to become engaged in, during the Term. 
  

	 	(b)	 Non-Solicitation;
Non-Interference. During the Term and for a period of one year following the termination of the Executive’s employment for any reason, 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: 

  

	 	(1)	 solicit from any customer doing business with the Group during the Term business of the same or of a similar
nature to the Business; 

  

	 	(2)	 solicit from any known potential customer of the Group business of the same or of a similar nature to that
which 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; 

 

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

  

	 	(4)	 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 vendor or supplier. 

  
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	 	(c)	 Injunctive Relief; Indemnity of Company. The Executive agrees that any breach or threatened breach of
subsections (a) and (b) of this Section 11 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 Section 11 are reasonable. The Executive agrees to indemnify and hold harmless the Company from and against all reasonable
expenses (including reasonable fees and disbursements of counsel) which may be incurred by the Company in connection with, or arising out of, any violation of this Agreement by the Executive. This Section 11 shall survive the termination of the
Agreement for any reason. 

  

	12.	 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 the 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. 

 

	13.	 ASSIGNMENT 

The Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer the
Agreement or any rights or obligations hereunder; provided, however, that the Company may assign or transfer the Agreement or any rights or obligations hereunder to any member of the Group without such consent. If the Executive should die while any
amounts would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts unless otherwise provided herein shall be paid in accordance with the terms of this Agreement to the Executive’s devisee,
legatee, or other designee or, if there be no such designee, to the Executive’s estate. The Company will require any and all successors (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the
Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms as the
Executive would be entitled to hereunder if the Company had terminated the Executive’s employment other than for Cause, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be
deemed the Date of Termination. As used in this Section 13, “Company” shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which executes and delivers the agreement provided for
in this Section 13 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. 

  
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	14.	 SEVERABILITY 

If any provision of the Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications
of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of the Agreement are declared to be severable. 
  

	15.	 ENTIRE AGREEMENT 

The 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 the Agreement in reliance upon any representation, warranty or undertaking which is
not set forth in the Agreement. 
  

	16.	 GOVERNING LAW 

The Agreement shall be governed by and construed in accordance with the law of the State of New York, U.S.A. 

 

	17.	 AMENDMENT 

The Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to the Agreement, which agreement is executed by both of the parties hereto. 
  

	18.	 WAIVER 

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under the 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. 
  

	19.	 NOTICES 

All notices, requests, demands and other communications required or permitted under the Agreement shall be in writing and shall be deemed to
have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent by a recognized courier with next-day or
second-day delivery to the last known address of the other party; or (iv) sent by e-mail with confirmation of receipt. 

  
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	20.	 COUNTERPARTS 

The 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. The 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. 
  

	21.	 NO INTERPRETATION AGAINST DRAFTER 

Each party recognizes that the Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with
legal counsel of choice. In any construction of the terms of the Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. 

[Remainder of the page intentionally left blank.] 

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

							
	COMPANY:	 		 	 GSX TECHEDU INC. 

		 		 	 a Cayman Islands exempted company

							
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	

							
				
	EXECUTIVE:	 		 		 	
			
		 		 	  

		 		 	Name:	 	
		 		 	Address:	 	

 Schedule A 

Cash Compensation 
  

					
	 	  	Amount	  	Pay Period
	Base Salary	  		  	
	Cash 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:agreement10q

                  Stephanie Plaines                                                   February 26, 2019   Dear Stephanie,   We are pleased to offer you the position of Global Chief Financial Officer with Jones Lang LaSalle  Incorporated (“JLL” or the “Company”). You will report directly to the Chief Executive Officer, Christian  Ulbrich, and be a member of the Global Executive Board (GEB).   We expect that your employment will begin with us not later than March 18, 2019 (the “Employment  Commencement Date”).   This offer remains open for you to accept through March 1, 2019.   We have all enjoyed discussing how you can build a career with our firm and we believe you will make  substantial contributions to JLL’s continued success. We also think you will benefit from our collaborative  culture and from the breadth, depth and quality of the services we provide to our clients.   Annual Base Salary  Your base salary is $500,000 per annum, payable every other Friday in arrears less applicable payroll  deductions. The level of your Base Salary will remain in effect through December 31, 2019, after which it  shall be subject to consideration by the Compensation Committee in accordance with the procedures it  follows. We do not guarantee any base salary increases.   Annual Bonus  You will be rewarded according to the GEB Annual Incentive Plan design. Your 2019 target bonus is US  $1,000,000. Your actual bonus will be based on the following: (1) performance against specific individual  objectives (MyPerformance), as assessed by your manager, and (2) JLL’s firm-wide performance. A  consideration of these factors and others may lead to you receiving more than, less than or none, of the  target bonus amount. Bonuses are considered annually and typically paid in March. To earn and be paid an  Annual Bonus, individuals must be employed by the Company on the date that annual bonuses are paid. If  you leave the firm voluntarily for any reason prior to the date that bonuses are paid or if your employment is  terminated for cause in our discretion, you will not be paid any part of your Annual Bonus, pro rata or  otherwise. JLL reserves the right to alter the GEB Annual Incentive Plan from time to time in its discretion,  which may include target award changes.   Long-Term Incentive Plan  You will also be rewarded according to the GEB Long-Term Incentive Plan design. Your 2019 target is US  $1,500,000. The Long-Term Incentive Plan award is delivered in Performance Share Units (“PSU’s”) which  vest after 3 years and is contingent on achieving performance conditions. Your actual award will be based  on JLL’s firm-wide performance and the collective performance against Beyond Goals. A consideration of  these factors and others may lead to you receiving more than, less than or none of the target                                        Page 1  

 

              bonus amount. JLL reserves the right to alter the GEB Long-Term Incentive Plan from time to time in its  discretion, which may include target award changes and equity vehicles.   One-Time Stock Grant  You will be given a one-time grant of Restricted Stock Units (“RSU’s”) in the amount of $350,000. The  number of shares will be determined by the fair market value of JLL stock on the date of the grant. The  shares will vest over three years on the anniversary of the grant date in the amounts of $100,000 in 2020,  $100,000 in 2021 and $150,000 in 2022.   Share Ownership Requirement  For the Global Executive Board, excluding the CEO, the share ownership requirement is four times base  salary. You need to retain 100% of post-tax shares until compliance is achieved. Unvested RSU’s count  towards the requirement while unvested PSU’s will not. After meeting the ownership requirement, you  need to retain 50% of released shares (post tax) for an additional 2 years. Requirements subject to change  based on the normal review process with the Compensation Committee.   Directors and Officers Insurance and By-Law Indemnification.  You will be entitled to coverage under the commercial insurance policies that the Company maintains from  time to time with respect to liability for the actions of our Directors and Officers acting in  such capacities.  In addition, you will be entitled to the indemnification provided under the Company’s By-Laws in effect on  the date of this letter, a copy of which has been provided to you. During your employment and following  any termination of employment, such coverage and indemnification will be at least as favorable to you as  that provided to any other new or continuing Company executives.   Benefits  JLL prides itself on being an Employer of Choice. We are committed to supporting our employee’s personal  needs in life while achieving business goals. We demonstrate our commitment through flexible work  arrangements and a comprehensive benefit program. We offer an “environment of health,” anchored by our  “Health Empowerment Program”. You may elect to participate in our benefits program, which includes  medical, dental, life, disability insurance, and a 401k savings and retirement plan.   In addition, we provide options for wealth creation and life management, including paid holidays and time  off as needed and approved, subject to our standard policies. Details of these benefits are included in the  firm’s policies and benefits summaries and plan descriptions, copies of which will be provided to you.   As a member of the Global Executive Board (“GEB”), we also offer you additional benefits. We apply  these benefits programs uniformly across the organization. Details of these benefits will be provided to you  within your first 30 days.   Relocation  The office location for the Global CFO role is 200 East Randolph Chicago, Illinois. You are eligible to  receive relocation assistance per the attached relocation agreement. We require that you repay 100% of  relocation payments if you voluntarily terminate your employment or in the event we terminate your  employment for cause within one (1) year of the move initiation date, and we require that you repay 50%  of your relocation benefits if you voluntarily terminate or are terminated for cause within two (2) years of  the move initiation date. For the time period prior to your relocation to the Chicago area, JLL will reimburse  your business travel expenses in accordance with our Travel and Expense policy.                                        Page 2  

 

              Expense Reimbursement  You will be authorized to incur reasonable expenses for entertainment, traveling, meals, lodging, and similar  items in promoting the Company’s business and for business communication costs, such as cellular phone  service, internet service, and a wireless e-mail device and service. The Company will reimburse you for all  reasonable expenses so incurred provided that such expenses are incurred and accounted for in accordance  with the policies and procedures established by the Company.  Travel approximates 50% of your schedule.    Public Disclosures  You understand that the Company will file this letter publicly with the United States Securities and  Exchange Commission (SEC) as part of its required disclosures as a public company. This letter may also  be disclosed as otherwise required by applicable laws or regulations. You also agree that the Company may  make such additional disclosures about you and your compensation from time to time as and to the extent  required by applicable laws and regulations and that you will provide the Company with all necessary  information upon request. Your position as an officer will also require us to publicly file reports about your  interests in Jones Lang LaSalle common stock with the SEC.   Representations  As a condition of your employment with us, you represent that:     •  You are aware of and understand all the restrictions or obligations you may have to current and        prior employers.     •  There are no restrictive covenants, court orders, laws or regulations, including non-solicitation,        confidentiality or non-compete agreements, that would prevent, restrict or hinder or interfere with        your employment.     •  You have no other obligations or commitments of any kind that would prevent, restrict, hinder or        interfere with your employment.     •  During your employment with us, you will not violate any obligations or restrictions that relate to        your employment.   We encourage you to seek your own legal counsel if you have any questions about any obligations or  commitments you have that may affect your employment with us.   Confidentiality  During your employment with us, you will receive confidential, proprietary or non-public information  concerning JLL, its clients and/or employees. This may include pricing, client proposals, compensation  structures and performance evaluations, among many other types of information. You agree that:     •  We have given this kind of information to you in strict confidence.     •  You will keep all of it secret and confidential indefinitely.     •  You will not disclose it, directly or indirectly, to anyone else or use it in any way except as we may        authorize within the scope of your employment.     •  If at any time you are required by law to disclose such information, you will give reasonable        advance notice to JLL before you disclose it.     •  Except as clearly necessary to carry out your job responsibilities, you will not attempt, or provide        information to others that would allow them to attempt, to access JLL's computer system or those        computer systems of JLL's clients.                                        Page 3  

 

              Non-Solicitation  As consideration for your employment with us, you agree that while you work for us and for a period of  twelve (12) months after your employment with us terminates for any reason, you will not, either directly  or indirectly, or on behalf of anyone else:     •  Solicit or induce other JLL employees to leave their jobs; or     •  Solicit or induce any clients that have existing or pending transactions or assignments with JLL to        discontinue or reduce (i) their transactions or assignments with us or (ii) their consideration of us        for pending transactions or assignments.   By accepting our offer of employment, you agree that the above restrictions are fair and reasonable and are  reasonably required for the protection of JLL.   Intellectual Property  If you agree to work for us, then by this letter you have agreed to assign to JLL your entire right, title and  interest in any invention or idea, patentable or not, that you create or conceive of (i) during your employment  by JLL and for six (6) months thereafter and (ii) which relates in any manner to our actual or anticipated  business, research or development, or is suggested by or results from any task we assigned to you or any  work you performed or on behalf of JLL.   You agree that you will promptly disclose to JLL Legal Services any invention or idea contemplated above,  and upon request, you will execute a specific assignment of title to JLL, and do anything else reasonably  necessary to enable JLL at its expense to secure a patent therefore in the United States and in foreign  countries.   Background Investigation  This employment offer is contingent upon your written consent to, and successful completion of, as we  may determine in our sole discretion, of a background investigation by a consumer reporting agency and  drug testing through urinalysis. This offer is also subject to the successful results, in our discretion, of  discussions with professional references the names of whom have been provided by you.   At Will Employment  Your employment will not be for a fixed period of time, and it will be “at will.” This means that you or the  firm may terminate your employment, or the firm may change the terms and conditions of your  employment, at any time, with or without notice or cause.   You will be entitled to the GEB severance benefits which also apply to other GEB members. A copy of the  current Plan can be provided to you.   Code of Business Ethics and Company Policies  We strongly believe that compliance by its employees with all applicable laws and ethical business practices  is critical to our continued success. Accordingly, we will ask you to become familiar with our Code of  Business Ethics and to certify that you will always act in accordance with its provisions. Your compliance  with the Code is a condition to your continued employment. If you work for us, you also agree to become  familiar and comply with our personnel policies, including, our drug and alcohol, anti-harassment and  information security policies. This information is included in the new hire packet and is always available  on our intranet.   We greatly look forward to welcoming you to the firm and are confident that our shareholders, clients and  employees will benefit from your leadership and that our relationship with you will be mutually satisfying  and rewarding.                                        Page 4  

 

              If you wish to accept our offer, please sign this letter and return it to me.   Yours Sincerely,    Christian Ulbrich  President and Chief Executive Officer  Jones Lang LaSalle Incorporated    Accepted by:  /s/  Stephanie Plaines          Date:  February  27, 2019                                                          Page 5

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