Document:

EX-4.5

 Exhibit 4.5 

Shareholders Voting Proxy Agreement 

This Shareholders Voting Proxy Agreement (this “Agreement”) is executed by and among the following Parties as of
October 21, 2020 in Guangzhou, the People’s Republic of China (“China” or the “PRC”): 
  

	(1)	 Shuai Feng (PRC ID No.: [****]) and Weixian Xia (PRC ID No.: [****]) (collectively, the “Entrusting
Party” or “Party A”); 

  

	(2)	 EHang Intelligent Equipment (Guangzhou) Co., Ltd., with the address: Building C, No.72, Nanxiang Second Road,
Science City of Guangzhou Hi-Tech Industrial Development Zone, PRC (the “WFOE” or “Party B”); and 

 

	(3)	 Guangzhou EHang Intelligent Technology Co., Ltd., with the address: Room 402 (only for office use), 4th floor,
Auxiliary Building No. 11, Aoti Road, Tianhe District, Guangzhou, PRC (the “Target Company” or “Party C”). 

(In this Agreement, Party A, Party B and Party C shall be referred to individually as a “Party”, and collectively as the
“Parties”). 
 WHEREAS: 

 

	1.	 The Entrusting Party, the existing shareholders of Party C, collectively own 100% of the equity interest in
Party C in record. 

  

	2.	 The Entrusting Party is willing to irrevocably entrust Party B or Party B’s designee to vote on his or her
behalf at the shareholders’ meeting of Party C, and Party B is willing to accept such proxy on behalf of the Entrusting Party. 

Therefore, the Parties hereby agree as follows: 
  

	1.	 PROXY OF VOTING RIGHTS 

 

	 	1.1	 The Entrusting Party hereby irrevocably covenants that, he/she shall execute the Power of Attorney (the
“POA”) in the form attached hereto as Exhibit A upon the execution of this Agreement and entrust Party B or Party B’s designee (the “Designee”) to exercise all his or her rights as the
shareholders of Party C under the Articles of Association of Party C, including without limitation (collectively, the “Proxy Rights”): 

 

	 	(a)	 attending shareholders’ meetings of the Target Company as the proxy of the Entrusting Party;

  

	 	(b)	 exercising all shareholder’s rights and voting rights pursuant to applicable laws and the Articles
of Association of the Target Company, including but not limited to the sale, transfer, pledge or disposition of all or any part of the equity interest in the Target Company; 

  
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	 	(c)	 designating and appointing the legal representative (Chairperson), directors, supervisors, general
manager and other senior management members of Party C as the authorized representative of the Entrusting Party and voting on the matters to be discussed or resolved by the shareholders’ meeting on behalf of the Entrusting Party, including
without limitation, the designation and election of Party C’s directors, general manager and other senior managers who shall be appointed or removed by the shareholders; and 

 

	 	(d)	 exercising other voting rights the shareholders are entitled to under the Articles of Association of
Party C as amended from time to time. 

 Party B hereby agrees to accept such proxy as set forth in Section 1.1.
Party B may delegate the above matters to other persons or entities without prior notice to or consent from Party C. Unless otherwise specified in this Agreement, the Entrusting Party shall not revoke the proxy and authorization made to the Designee
hereunder. 
  

	 	1.2	 The Entrusting Party hereby acknowledges and ratifies all the actions associated with the proxy
conducted by the Designee. 

  

	 	1.3	 The Entrusting Party hereby confirms that the Designee is entitled to exercise all Proxy Rights without
the prior consent of the Entrusting Party. 

  

	2.	 RIGHTS TO INFORMATION 

 

	 	2.1	 For the purpose of this Agreement, the Designee is entitled to request for relevant information of Party
C and review the materials of Party C. Party C shall provide appropriate assistance to the Designee for his/her work. 

  

	 	2.2	 The Entrusting Party and Party C shall immediately inform Party B of the proxy hereunder.

  

	3.	 PERFORMANCE OF PROXY RIGHTS 

 

	 	3.1	 The Entrusting Party shall provide appropriate assistance to the Designee for the performance of the
Proxy Rights provided in this Agreement, including signing and implementing the shareholders’ resolutions and other relevant legal documents (if applicable) which have been confirmed by the Designee in a timely manner where necessary.

  

	 	3.2	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall strive in good faith
to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close
as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  
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	4.	 REPRESENTATIONS AND WARRANTIES 

 

	 	4.1	 The Entrusting Party hereby represents and warrants as follows: 

 

	 	4.1.1	 The Entrusting Party has full power and legal right to enter into and perform his or her obligations
under this Agreement and the POA; this Agreement shall constitute its legal, valid and binding obligations and shall be enforceable against it in accordance with the provisions hereof. 

 

	 	4.1.2	 The Entrusting Party has obtained necessary authorizations to execute and deliver this Agreement, and
the execution, delivery and performance of this Agreement will not conflict with or violate any and all constitutional documents of Party C. 

  

	 	4.1.3	 Each of the Entrusting Party is a lawfully registered and beneficial owner of the shares of Party C, and
none of the shares held by the Entrusting Party is subject to any encumbrance or other restrictions, except as otherwise provided under the Share Pledge Agreement and Exclusive Option Agreement entered into by and among Party B, Party C and the
Entrusting Party. Subject to this Agreement, the Designee has full power and legal rights to exercise the Proxy Rights according to the Articles of Association of Party C. 

 

	 	4.2	 Party C hereby represents and warrants as follows: 

 

	 	4.2.1	 Party C is a limited liability company legally registered and validly existing in accordance with the
laws of its place of incorporation and has independent legal person status, and has full and independent civil and legal capacity to execute, deliver and perform this Agreement. It can sue and be sued as a separate entity; 

 

	 	4.2.2	 Party C has taken all necessary corporate actions, obtained all necessary authorizations and the
consents and approvals from third parties and government agencies (if any) for the execution and performance of this Agreement. Party C’s execution and performance of this Agreement do not violate any explicit requirements under any law or
regulation binding on Party C; 

  

	 	4.2.3	 Each of the Entrusting Party is a lawfully registered and beneficial owner of the shares of Party C, and
none of the shares held by the Entrusting Party is subject to any encumbrance or other restrictions, except as otherwise provided under the Share Pledge Agreement and Exclusive Option Agreement entered into by and among Party B, Party C and the
Entrusting Party. Subject to this Agreement, the Designee has full power and legal rights to exercise the Proxy Rights according to the Articles of Association of Party C. 

  
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	5.	 TERM OF THIS AGREEMENT 

 

	 	5.1	 This Agreement shall become effective upon and from the date on which it is duly executed by each Party,
with a term of twenty (20) years. The Parties agree that, this Agreement can be extended only if Party B gives a written notice of extension of this Agreement before the expiration of this Agreement and the other Parties shall agree to such
extension without reserve. 

  

	 	5.2	 If the Entrusting Party has transferred all his or her equity interests in Party C with the prior
consent of Party B, the obligations and warranties under this Agreement of the Entrusting Party shall be assumed by the assignee. 

  

	6.	 NOTICES 

  

	 	6.1	 Any notice, request, claim and other communication requested or given under this Agreement shall be
given to relevant Parties hereto in writing. 

  

	 	6.2	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be
deemed effectively given on the date of acceptance or refusal at the address specified for notices. Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically
generated confirmation of transmission). 

  

	7.	 CONFIDENTIALITY 

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in
connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it
shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the
obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors,
legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in
this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement.
This Section shall survive the termination of this Agreement for any reason. 

  
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	8.	 LIABILITY FOR BREACH OF AGREEMENT 

 

	 	8.1	 The Parties agree and confirm that, if either Party is in breach of any provisions herein or fails to
perform its obligations hereunder, such breach or failure shall constitute a default under this Agreement, which shall entitle the non-defaulting Party to request the defaulting Party to rectify or remedy such
default with a reasonable period of time. If the defaulting Party fails to rectify or remedy such default within the reasonable period of time or within 10 days of non-defaulting Party’s written notice
requesting for such rectification or remedy, then the non-defaulting Party shall be entitled to elect the following remedial actions: 

 

	 	8.1.1	 If the defaulting Party is any Entrusting Party or Party C, then Party B has the right to terminate this
Agreement and request the defaulting Party to fully compensate its losses and damages; and 

  

	 	8.1.2	 If the defaulting Party is Party B, then the non-defaulting
Party has the right to request the defaulting Party to fully compensate its losses and damages, but in no circumstance shall the non-defaulting Party early terminate this Agreement unless the applicable law
provides otherwise. 

  

	 	8.2	 Notwithstanding otherwise provided under this Agreement, the validity of this Section shall not be
affected by the suspension or termination of this Agreement. 

  

	9.	 MISCELLANEOUS 

 

	 	9.1	 This Agreement shall be executed in three (3) originals, and each Party holds one.

  

	 	9.2	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement
shall be governed by the laws of the People’s Republic of China. 

  

	 	9.3	 In the event of any dispute with respect to this Agreement, the Parties shall first resolve the dispute
through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, any Party may submit the relevant dispute to Guangzhou Arbitration Committee for arbitration in accordance with its arbitration rules then in effect.
The arbitration shall be conducted in Guangzhou, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties. 

 

	 	9.4	 The rights and remedies provided for in this Agreement shall be accumulative and shall not affect any
other rights and remedies stipulated at law. 

  

	 	9.5	 Any Party may waive the terms and conditions of this Agreement, provided that such a waiver must be
provided in writing and shall require the signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar breach in other
circumstances. 

  
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	 	9.6	 The headings of this Agreement are for convenience only, and shall not be used to interpret, explain or
otherwise affect the meanings of the provisions of this Agreement. 

  

	 	9.7	 Any amendment, change and supplement to this Agreement shall require the execution of a written
agreement by all of the Parties. 

  

	 	9.8	 Without Party B’s prior written consent, other Parties shall not assign their respective rights and
obligations under this Agreement to any third party. The Entrusting Party and Party C agree that Party B may assign its obligations and rights under this Agreement to any third party upon a prior written notice to the Entrusting Party and Party C.

  

	 	9.9	 This Agreement shall be binding on the legal successors of the Parties. 

[Signature Page Follows] 

  
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	Entrusting Party:
	
	 /s/ Shuai Feng

	Shuai Feng
	
	 /s/ Weixian Xia

	Weixian Xia
	
	Party B: EHang Intelligent Equipment (Guangzhou) Co., Ltd.
	
	 /s/ Huazhi Hu

	Huazhi Hu
	Authorized Representative
	
	/s/ Seal of EHang Intelligent Equipment
	 (Guangzhou) Co., Ltd.

	
	Party C: Guangzhou EHang Intelligent Technology Co., Ltd.
	
	 /s/ Shangjin Guo

	Shangjin Guo
	Authorized Representative
	
	/s/ Seal of Guangzhou EHang Intelligent
	 Technology Co., Ltd.

 SIGNATURE PAGE TO SHAREHOLDERS
VOTING PROXY AGREEMENT 

 EXHIBIT A 

POWER OF ATTORNEY 
 Shuai
Feng and Weixian Xia, holders (the “Shareholders”) of 100% equity interest (the “Company’s Shares”) in Guangzhou EHang Intelligent Technology Co., Ltd. (the “Target
Company”), hereby irrevocably authorize EHang Intelligent Equipment (Guangzhou) Co., Ltd. (the “WFOE”) to exercise the following rights attached to the Company’s Shares within the term of this Power of
Attorney: 
 The WFOE is hereby authorized to act on behalf of the Shareholders as the sole and exclusive proxy of the Shareholders with
respect to all matters concerning the Company’s Shares, including but not limited to: 1) attending the shareholders’ meetings of the Target Company; 2) exercising all shareholder’s rights and shareholder’s voting rights the
Shareholders are entitled to according to law and the Target Company’s Articles of Association, including but not limited to the sale or transfer or pledge or disposition of the Shareholders’ equity interest in the Target Company in part
or in whole; and 3) designating and appointing the legal representative (chairperson), directors, supervisors, general manager and other senior management members of the Target Company as the authorized representative of the Shareholders. 

All the actions conducted by the WFOE in relation to the Company’s Shares shall be deemed as the actions of the Shareholders, and all
documents executed by the WFOE shall be deemed to be executed by the Shareholders. The Shareholders hereby acknowledge such actions and documents. 

The WFOE is entitled to assign its rights related to the aforesaid matters to any other person or entity at its own discretion and without
giving any prior notice to the Shareholders or obtaining consent of the Shareholders. 
 This Power of Attorney shall be irrevocable and
continuously valid from the date of execution of this Power of Attorney. 
 Neither the Shareholders nor the Target Company may revoke or
terminate this Power of Attorney without the WFOE’s prior written consent. However, the WFOE may terminate this Power of Attorney at any time by giving thirty (30) days’ prior written notice to the Shareholders and the Target Company.

  

			
	 /s/ Shuai Feng

	Shuai Feng
	
	 /s/ Weixian Xia

	Weixian XiaEX-4.6

 Exhibit 4.6 

SHARE PLEDGE AGREEMENT 

This Share Pledge Agreement (this “Agreement”) has been executed by and between the following parties on
October 21, 2020 in Guangzhou, PRC: 
  

			
	Pledgee:	  	EHang Intelligent Equipment (Guangzhou) Co., Ltd.
		
	Address:	  	Building C, No.72, Nanxiang Second Road, Science City of Guangzhou Hi-Tech Industrial Development Zone, PRC
		
	Pledgor:	  	Shuai Feng
		
	PRC ID No.:	  	[****]
		
	Address:	  	 [****]

 Whereas: 
  

	1.	 Pledgor is a natural person with the nationality of the People’s Republic of China
(“China” or the “PRC”), and holds registered capital of CNY57,000,000 in Guangzhou EHang Intelligent Technology Co., Ltd. (“Intelligent Technology”) in record, representing 95%
of the equity interest in Intelligent Technology. Guangzhou EHang Intelligent Technology Co., Ltd. is a limited liability company registered in Guangzhou, PRC, which engages in the research and development, manufacture, operation and sale of
unmanned aerial vehicle. 

  

	2.	 Pledgee is a wholly foreign-owned enterprise registered in Guangzhou, PRC, which engages in the
consulting services of aviation technologies. 

  

	3.	 Pledgee and Intelligent Technology owned by Pledgor entered into the Exclusive Technical Consulting and
Services Agreement (the “Services Agreement”) and the Exclusive Service Agreement (the “Exclusive Services Agreement”) on January 29, 2016; Pledgee, Pledgor and Intelligent Technology entered into
the Shareholders Voting Proxy Agreement (the “Voting Agreement”) and the Exclusive Option Agreement (the “Option Agreement”) on October 21, 2020. 

 

	4.	 To the extent permitted by applicable laws, Pledgor is willing to pledge all its Equity Interest to
Pledgee as a first priority security for the performance of the Contractual Obligations and repayment of the Secured Indebtedness, and Intelligent Technology agreed to such Pledge. 

The parties have mutually agreed to execute this Agreement upon the following terms. 

  
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	1.	 DEFINITIONS 

Unless otherwise provided herein, the terms below shall have the following meanings: 

 

	 	1.1	 Pledge: shall refer to the security interest granted by Pledgor to Pledgee pursuant to Section 2 of
this Agreement. 

  

	 	1.2	 Equity Interest: shall refer to all of the equity interest lawfully held by Pledgor in Intelligent
Technology (i.e. registered capital of CNY 57,000,000, representing 95% of the equity interest in Intelligent Technology). 

  

	 	1.3	 Contractual Obligations: shall refer to all obligations of Pledgor under the Voting Agreement, Option
Agreement and the amendments thereto; all obligations of Intelligent Technology under the Voting Agreement, Services Agreement, Exclusive Services Agreement and the amendments thereto; and all obligations of Pledgor and Intelligent Technology under
this Agreement. 

  

	 	1.4	 Secured Indebtedness: shall refer to all direct, indirect and derivative losses and losses of
anticipated profits, suffered by Pledgee, incurred as a result of any Event of Default (see below) on the part of or any breach of the Contractual Obligations by Pledgor and/or Intelligent Technology, and all expenses incurred by Pledgee in
connection with enforcement of the Contractual Obligations of Pledgor and/or Intelligent Technology, the amount of which is expected to be no less than CNY 57,000,000. 

 

	 	1.5	 Term of Pledge: shall refer to the term set forth in Section 3 of this Agreement.

  

	 	1.6	 Event of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

  

	 	1.7	 Notice of Default: shall refer to the notice issued by Pledgee in accordance with this Agreement
declaring an Event of Default. 

  

	2.	 THE PLEDGE AND TRANSFER 

 

	 	2.1	 Pledgor hereby pledges to Pledgee all of Equity Interest in Intelligent Technology held by such Pledgor.
The Pledge refers to the right of Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest.

  
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	3.	 TERM OF PLEDGE 

 

	 	3.1	 The Term of the Pledge 

This Agreement shall take effect as of the date when this Agreement is duly signed or chopped by both parties; the effectiveness and execution
of this Agreement will not be affected by the pledge registration specified in this Agreement. This Agreement shall be in full force and effect until Intelligent Technology and Pledgor’s satisfaction of all Contractual Obligations and
settlement of all Secured Indebtedness, or for twenty (20) years as from the date hereof (the “Term of Pledge”). If Intelligent Technology and Pledgor fail to fully perform the Contractual Obligations or the Secured
Indebtedness is not fully paid off, both parties agree that the Term of Pledge shall be extended at the request of Pledgee until the Contractual Obligations are fully performed and the Secured Indebtedness is fully paid off. Upon Pledgee’s
request, Intelligent Technology shall extend its operation period to sustain the effectiveness of this Agreement. 
  

	4.	 CUSTODY OF RECORDS FOR EQUITY INTEREST SUBJECT TO PLEDGE 

 

	 	4.1	 During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgee’s custody
the investment certificate for its Equity Interest in Intelligent Technology and the shareholders’ register containing the Pledge within one week from the execution of this Agreement. 

 

	 	4.2	 Pledgee shall have the right to receive dividends on the Equity Interest. 

 

	5.	 REPRESENTATIONS AND WARRANTIES OF PLEDGOR 

 

	 	5.1	 Pledgor is the legal owner of the Equity Interest. 

 

	 	5.2	 In any event that Pledgee exercises its rights under this Agreement, no interference shall be made by
any other parties. 

  

	 	5.3	 Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with the
provisions set forth in this Agreement. 

  

	 	5.4	 Except for the Pledge, Pledgor has not placed any security interest or other encumbrance on the Equity
Interest. 

  

	6.	 COVENANTS OF PLEDGOR 

 

	 	6.1	 Pledgor hereby covenants to Pledgee that during the term of this Agreement, Pledgor shall:

  

	 	6.1.1	 not transfer the Equity Interest, or place or permit the existence of any security interest or other
encumbrance on the Equity Interest that may affect Pledgee’s rights and interests, without the prior written consent of Pledgee; 

  

	 	6.1.2	 comply with and implement the provisions of all laws and regulations applicable to the pledge of rights,
and within five (5) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding the Pledge, shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply with the
aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon Pledgee’s reasonable request or upon consent of Pledgee; 

  
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	 	6.1.3	 promptly notify Pledgee of any event or notice received by Pledgor that may have an impact on
Pledgee’s rights to the Equity Interest or any portion thereof, as well as any event or notice received by Pledgor that may change any warranty or obligation of Pledgor hereunder or have an impact on the performance by Pledgor of its
obligations hereunder. 

  

	 	6.2	 Pledgor agrees that the rights acquired by Pledgee in accordance with this Agreement with respect to the
Pledge shall not be interrupted or harmed by Pledgor or any heirs or representatives of Pledgor or any other persons through any legal proceedings. 

  

	 	6.3	 To protect or perfect the security interest granted by this Agreement for payment of the Secured
Indebtedness, Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by Pledgee. Pledgor also undertakes to perform
and to cause other parties who have an interest in the Pledge to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant documents
regarding ownership of Equity Interest with Pledgee or designee(s) of Pledgee (natural persons/legal persons). Pledgor undertakes to provide Pledgee within a reasonable timeframe with all notices, orders and decisions regarding the Pledge that are
required by Pledgee. 

  

	 	6.4	 Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements,
representations and conditions under this Agreement for the benefit of Pledgee. In the event of failure in or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor shall indemnify Pledgee for all losses
resulting therefrom. 

  

	7.	 EVENT OF DEFAULT 

 

	 	7.1	 The following circumstances shall be deemed an Event of Default: 

 

	 	7.1.1	 Any representation or warranty made by Pledgor in Section 5 hereof is materially misleading or
incorrect, or Pledgor breaches any representations or warranties under Section 5 hereof; 

  

	 	7.1.2	 Pledgor breaches any covenants under Section 6 hereof; 

 

	 	7.1.3	 Pledgor breaches any terms and conditions of this Agreement; 

 

	 	7.1.4	 Except as otherwise stipulated in Section 6.1.1, Pledgor abandons the Equity Interest pledged or
assigns the Equity Interest pledged without the written consent of Pledgee; 

  

	 	7.1.5	 Any loan, guarantee, compensation, commitment or other liabilities which (i) have been requested
for repayment or performance due to the breach of contract; or (ii) are unable to be repaid or performed on due date, so as to cause Pledgee to believe that such Pledgor’s ability to perform the obligations hereunder is adversely affected;

  
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	 	7.1.6	 Pledgor is incapable of repaying debt in general; 

 

	 	7.1.7	 Any enactment of laws and regulation causes the illegality of this Agreement or failure of the continue
performance by Pledgor of the obligations under this Agreement; 

  

	 	7.1.8	 Any consent, permit, approval or authorization for the legality, enforcement or validity of this
Agreement from governmental authorities is revoked, suspended, void or substantially changed; 

  

	 	7.1.9	 The occurrence of any adverse change to the assets or property of Pledgor, which in Pledgee’s
determination, may impact the ability of Pledgor to perform its obligations hereunder; and 

  

	 	7.1.10	 The occurrence of any other circumstances under which Pledgee is not or may not be able to exercise its
rights to dispose of the Pledge as provided by applicable law. 

  

	 	7.2	 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the
aforementioned circumstances described in Section 7.1, Pledgor shall immediately notify Pledgee in writing accordingly. 

  

	 	7.3	 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to
Pledgee’s satisfaction, Pledgee may issue a Notice of Default to Pledgor in writing upon or at any time after the occurrence of the Event of Default, demanding Pledgor to immediately pay all the outstanding amounts under the Services Agreement
and other accounts payable in full or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement. 

  

	8.	 EXERCISE OF PLEDGE 

 

	 	8.1	 Prior to the full payment of the Secured Indebtedness hereunder, without Pledgee’s written consent,
Pledgor shall not assign the Equity Interest in Intelligent Technology. 

  

	 	8.2	 Pledgee may issue a written Notice of Default to Pledgor when exercising the Pledge.

  

	 	8.3	 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge when
issuing or at any time after the issuance of the Notice of Default in accordance with Section 7.3. 

  

	 	8.4	 Pledgee shall have the right to be paid in priority with all or part of the Equity Interest hereunder
based on the monetary valuation that such Equity Interest is converted into or from the proceeds from the auction or sale of such Equity Interest in accordance with statutory procedures, until the unpaid consulting service fee and all other amounts
payable under the Secured Indebtedness have been paid off. 

  
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	 	8.5	 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor shall not place obstacles
and shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement. 

  

	9.	 ASSIGNMENT 

  

	 	9.1	 Without Pledgee’s prior written consent, Pledgor shall not have the right to assign or delegate its
rights and obligations under this Agreement. 

  

	 	9.2	 This Agreement shall be binding on Pledgor and its successors and permitted assigns, and shall be valid
with respect to Pledgee and each of its successors and assigns. 

  

	 	9.3	 At any time, Pledgee may assign any and all of its rights and obligations under the Services Agreement
to its designee(s) (natural/legal persons), in which case the assigns shall have the rights and obligations of Pledgee under this Agreement, as if it were the original party to this Agreement. When Pledgee assigns the rights and obligations under
the Services Agreement, upon Pledgee’s request, Pledgor shall execute relevant agreements or other documents relating to such assignment. 

  

	 	9.4	 In the event of a change of Pledgee due to an assignment, Pledgor shall, at the request of Pledgee,
enter into a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement. 

  

	10.	 TERMINATION 

Upon the fulfillment of all Contractual Obligations and the full payment of all Secured Indebtedness by Intelligent Technology and Pledgor,
this Agreement shall be terminated., 
  

	11.	 HANDLING FEES AND OTHER EXPENSES 

 

	 	11.1	 All fees and out of pocket expenses relating to this Agreement, including but not limited to legal
costs, costs of production, stamp tax and any other taxes and fees, shall be borne by Pledgor. If Pledgee pays such taxes and fees according to applicable laws, Pledgor shall reimburse Pledgee for such paid taxes and fees. 

 

	 	11.2	 Pledgor shall be responsible for all expenses (including, but not limited to, any taxes, application
fees, management fees, litigation costs, attorney’s fees, and various insurance premiums in connection with the disposition of the Pledge) incurred by Pledgee for the reason that Pledgor fails to pay any payable taxes, fees or charges or for
other reasons which cause Pledgee to recourse by any means or ways. 

  
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	12.	 FORCE MAJEURE 

 

	 	12.1	 In the event that the affected party is delayed in or prevented from performing its obligations under
this Agreement by Force Majeure, only to the extent within the scope of such delay or prevention, the affected party will not be responsible for any damage by reason of such a failure or delay of performance. Force Majeure shall refer
to any event that is beyond the party’s reasonable control and cannot be prevented with reasonable care, including acts of governments, acts of nature, fire, explosion, typhoon, flood, earthquake, tide, lightning or war. However, any shortage
of credit, capital or finance shall not be regarded as an event beyond the reasonable control of a party. The party affected by Force Majeure shall notify the other party of such event and be exempted from its obligations under this Agreement
promptly. 

  

	 	12.2	 Although the affected party will not be responsible for any damage by reason of such a failure or delay
of performance caused by Force Majeure, the affected party shall be exempted from such liabilities when it uses its reasonable efforts to minimize or remove the effects of Force Majeure and attempt to resume performance of the
obligations delayed or prevented by the event of Force Majeure. After the event of Force Majeure is removed, both parties agree to use their best efforts to resume performance of this Agreement. 

 

	13.	 GOVERNING LAW AND RESOLUTION OF DISPUTES 

 

	 	13.1	 This Agreement shall be governed by and construed in accordance with the laws of PRC.

  

	 	13.2	 In the event of any dispute with respect to the construction and performance of this Agreement, the
parties shall first resolve the dispute through friendly negotiations. In the event the parties fail to reach an agreement on the dispute, either party may submit the relevant dispute to Guangzhou Arbitration Commission for arbitration in accordance
with its arbitration rules then in effect. The arbitration shall be conducted in Guangzhou, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on both parties. 

 

	14.	 NOTICES 

  

	 	14.1	 Any notice given by the parties hereto for the purpose of performing the rights and obligations
hereunder shall be in writing. If such notice is delivered by messenger, the time of receipt is the time when such notice is received by the addressee; if such notice is transmitted by telex or facsimile, the time of receipt is the time when such
notice is transmitted. If the notice does not reach the addressee on a business day or after the business time, the following business day shall be the date of receipt. The place of delivery is the party’s address first written above or the
address advised in writing including via facsimile and telex. 

  
 7 

	15.	 APPENDICES 

The appendices hereto shall be an integral part of this Agreement. 
  

	16.	 EFFECTIVENESS 

 

	 	16.1	 This Agreement is the amendment to the Original Pledge Agreement. If there is any conflict between the
Original Pledge Agreement and this Agreement, this Agreement shall prevail. Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective after the affixation of the signatures or seals of the parties.

  

	 	16.2	 This Agreement is written in Chinese in two originals. 

[Signature Page Follows] 

  
 8 

 
	
	Pledgee:
	
	EHang Intelligent Equipment (Guangzhou) Co., Ltd.
	
	 /s/ Huazhi Hu

	Huazhi Hu
	Authorized Representative
	
	 /s/ Seal of EHang Intelligent Equipment (Guangzhou) Co., Ltd.

	
	Pledgor:
	
	 /s/ Shuai Feng

	Shuai Feng

 SIGNATURE PAGE TO SHARE
PLEDGE AGREEMENT 

 Appendices: 

1.    Shareholders’ Register of Intelligent Technology 

2.    Investment Certificate issued by Intelligent Technology 

  
 10 

 SHARE PLEDGE AGREEMENT 

This Share Pledge Agreement (this “Agreement”) has been executed by and between the following parties on
October 21, 2020 in Guangzhou, PRC: 
  

			
	Pledgee:	  	EHang Intelligent Equipment (Guangzhou) Co., Ltd.
		
	Address:	  	Building C, No.72, Nanxiang Second Road, Science City of Guangzhou Hi-Tech Industrial Development Zone, PRC
		
	Pledgor:	  	Weixian Xia
		
	PRC ID No.:	  	[****]
		
	Address:	  	 [****]

 Whereas: 
  

	1.	 Pledgor is a natural person with the nationality of the People’s Republic of China
(“China” or the “PRC”), and holds registered capital of CNY3,000,000 in Guangzhou EHang Intelligent Technology Co., Ltd. (“Intelligent Technology”) in record, representing 5% of
the equity interest in Intelligent Technology. Guangzhou EHang Intelligent Technology Co., Ltd. is a limited liability company registered in Guangzhou, PRC, which engages in the research and development, manufacture, operation and sale of unmanned
aerial vehicle. 

  

	2.	 Pledgee is a wholly foreign-owned enterprise registered in Guangzhou, PRC, which engages in the
consulting services of aviation technologies. 

  

	3.	 Pledgee and Intelligent Technology owned by Pledgor entered into the Exclusive Technical Consulting and
Services Agreement (the “Services Agreement”) and the Exclusive Service Agreement (the “Exclusive Services Agreement”) on January 29, 2016; Pledgee, Pledgor and Intelligent Technology entered into
the Shareholders Voting Proxy Agreement (the “Voting Agreement”) and the Exclusive Option Agreement (the “Option Agreement”) on October 21, 2020. 

 

	4.	 To the extent permitted by applicable laws, Pledgor is willing to pledge all its Equity Interest to
Pledgee as a first priority security for the performance of the Contractual Obligations and repayment of the Secured Indebtedness, and Intelligent Technology agreed to such Pledge. 

The parties have mutually agreed to execute this Agreement upon the following terms. 

  
 11 

	1.	 DEFINITIONS 

Unless otherwise provided herein, the terms below shall have the following meanings: 

 

	 	1.1	 Pledge: shall refer to the security interest granted by Pledgor to Pledgee pursuant to Section 2 of
this Agreement. 

  

	 	1.2	 Equity Interest: shall refer to all of the equity interest lawfully held by Pledgor in Intelligent
Technology (i.e. registered capital of CNY 3,000,000, representing 5% of the equity interest in Intelligent Technology). 

  

	 	1.3	 Contractual Obligations: shall refer to all obligations of Pledgor under the Voting Agreement, Option
Agreement and the amendments thereto; all obligations of Intelligent Technology under the Voting Agreement, Services Agreement, Exclusive Services Agreement and the amendments thereto; and all obligations of Pledgor and Intelligent Technology under
this Agreement. 

  

	 	1.4	 Secured Indebtedness: shall refer to all direct, indirect and derivative losses and losses of
anticipated profits, suffered by Pledgee, incurred as a result of any Event of Default (see below) on the part of or any breach of the Contractual Obligations by Pledgor and/or Intelligent Technology, and all expenses incurred by Pledgee in
connection with enforcement of the Contractual Obligations of Pledgor and/or Intelligent Technology, the amount of which is expected to be no less than CNY 3,000,000. 

 

	 	1.5	 Term of Pledge: shall refer to the term set forth in Section 3 of this Agreement.

  

	 	1.6	 Event of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

  

	 	1.7	 Notice of Default: shall refer to the notice issued by Pledgee in accordance with this Agreement
declaring an Event of Default. 

  

	2.	 THE PLEDGE AND TRANSFER 

 

	 	2.1	 Pledgor hereby pledges to Pledgee all of Equity Interest in Intelligent Technology held by such Pledgor.
The Pledge refers to the right of Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest.

  
 12 

	3.	 TERM OF PLEDGE 

 

	 	3.1	 The Term of the Pledge 

This Agreement shall take effect as of the date when this Agreement is duly signed or chopped by both parties; the effectiveness and execution
of this Agreement will not be affected by the pledge registration specified in this Agreement. This Agreement shall be in full force and effect until Intelligent Technology and Pledgor’s satisfaction of all Contractual Obligations and
settlement of all Secured Indebtedness, or for twenty (20) years as from the date hereof (the “Term of Pledge”). If Intelligent Technology and Pledgor fail to fully perform the Contractual Obligations or the Secured
Indebtedness is not fully paid off, both parties agree that the Term of Pledge shall be extended at the request of Pledgee until the Contractual Obligations are fully performed and the Secured Indebtedness is fully paid off. Upon Pledgee’s
request, Intelligent Technology shall extend its operation period to sustain the effectiveness of this Agreement. 
  

	4.	 CUSTODY OF RECORDS FOR EQUITY INTEREST SUBJECT TO PLEDGE 

 

	 	4.1	 During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgee’s custody
the investment certificate for its Equity Interest in Intelligent Technology and the shareholders’ register containing the Pledge within one week from the execution of this Agreement. 

 

	 	4.2	 Pledgee shall have the right to receive dividends on the Equity Interest. 

 

	5.	 REPRESENTATIONS AND WARRANTIES OF PLEDGOR 

 

	 	5.1	 Pledgor is the legal owner of the Equity Interest. 

 

	 	5.2	 In any event that Pledgee exercises its rights under this Agreement, no interference shall be made by
any other parties. 

  

	 	5.3	 Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with the
provisions set forth in this Agreement. 

  

	 	5.4	 Except for the Pledge, Pledgor has not placed any security interest or other encumbrance on the Equity
Interest. 

  

	6.	 COVENANTS OF PLEDGOR 

 

	 	6.1	 Pledgor hereby covenants to Pledgee that during the term of this Agreement, Pledgor shall:

  

	 	6.1.1	 not transfer the Equity Interest, or place or permit the existence of any security interest or other
encumbrance on the Equity Interest that may affect Pledgee’s rights and interests, without the prior written consent of Pledgee; 

  

	 	6.1.2	 comply with and implement the provisions of all laws and regulations applicable to the pledge of rights,
and within five (5) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding the Pledge, shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply with the
aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon Pledgee’s reasonable request or upon consent of Pledgee; 

  
 13 

	 	6.1.3	 promptly notify Pledgee of any event or notice received by Pledgor that may have an impact on
Pledgee’s rights to the Equity Interest or any portion thereof, as well as any event or notice received by Pledgor that may change any warranty or obligation of Pledgor hereunder or have an impact on the performance by Pledgor of its
obligations hereunder. 

  

	 	6.2	 Pledgor agrees that the rights acquired by Pledgee in accordance with this Agreement with respect to the
Pledge shall not be interrupted or harmed by Pledgor or any heirs or representatives of Pledgor or any other persons through any legal proceedings. 

  

	 	6.3	 To protect or perfect the security interest granted by this Agreement for payment of the Secured
Indebtedness, Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by Pledgee. Pledgor also undertakes to perform
and to cause other parties who have an interest in the Pledge to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant documents
regarding ownership of Equity Interest with Pledgee or designee(s) of Pledgee (natural persons/legal persons). Pledgor undertakes to provide Pledgee within a reasonable timeframe with all notices, orders and decisions regarding the Pledge that are
required by Pledgee. 

  

	 	6.4	 Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements,
representations and conditions under this Agreement for the benefit of Pledgee. In the event of failure in or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor shall indemnify Pledgee for all losses
resulting therefrom. 

  

	7.	 EVENT OF DEFAULT 

 

	 	7.1	 The following circumstances shall be deemed an Event of Default: 

 

	 	7.1.1	 Any representation or warranty made by Pledgor in Section 5 hereof is materially misleading or
incorrect, or Pledgor breaches any representations or warranties under Section 5 hereof; 

  

	 	7.1.2	 Pledgor breaches any covenants under Section 6 hereof; 

 

	 	7.1.3	 Pledgor breaches any terms and conditions of this Agreement; 

 

	 	7.1.4	 Except as otherwise stipulated in Section 6.1.1, Pledgor abandons the Equity Interest pledged or
assigns the Equity Interest pledged without the written consent of Pledgee; 

  

	 	7.1.5	 Any loan, guarantee, compensation, commitment or other liabilities which (i) have been requested
for repayment or performance due to the breach of contract; or (ii) are unable to be repaid or performed on due date, so as to cause Pledgee to believe that such Pledgor’s ability to perform the obligations hereunder is adversely affected;

  
 14 

	 	7.1.6	 Pledgor is incapable of repaying debt in general; 

 

	 	7.1.7	 Any enactment of laws and regulation causes the illegality of this Agreement or failure of the continue
performance by Pledgor of the obligations under this Agreement; 

  

	 	7.1.8	 Any consent, permit, approval or authorization for the legality, enforcement or validity of this
Agreement from governmental authorities is revoked, suspended, void or substantially changed; 

  

	 	7.1.9	 The occurrence of any adverse change to the assets or property of Pledgor, which in Pledgee’s
determination, may impact the ability of Pledgor to perform its obligations hereunder; and 

  

	 	7.1.10	 The occurrence of any other circumstances under which Pledgee is not or may not be able to exercise its
rights to dispose of the Pledge as provided by applicable law. 

  

	 	7.2	 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the
aforementioned circumstances described in Section 7.1, Pledgor shall immediately notify Pledgee in writing accordingly. 

  

	 	7.3	 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to
Pledgee’s satisfaction, Pledgee may issue a Notice of Default to Pledgor in writing upon or at any time after the occurrence of the Event of Default, demanding Pledgor to immediately pay all the outstanding amounts under the Services Agreement
and other accounts payable in full or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement. 

  

	8.	 EXERCISE OF PLEDGE 

 

	 	8.1	 Prior to the full payment of the Secured Indebtedness hereunder, without Pledgee’s written consent,
Pledgor shall not assign the Equity Interest in Intelligent Technology. 

  

	 	8.2	 Pledgee may issue a written Notice of Default to Pledgor when exercising the Pledge.

  

	 	8.3	 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge when
issuing or at any time after the issuance of the Notice of Default in accordance with Section 7.3. 

  

	 	8.4	 Pledgee shall have the right to be paid in priority with all or part of the Equity Interest hereunder
based on the monetary valuation that such Equity Interest is converted into or from the proceeds from the auction or sale of such Equity Interest in accordance with statutory procedures, until the unpaid consulting service fee and all other amounts
payable under the Secured Indebtedness have been paid off. 

  
 15 

	 	8.5	 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor shall not place obstacles
and shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement. 

  

	9.	 ASSIGNMENT 

  

	 	9.1	 Without Pledgee’s prior written consent, Pledgor shall not have the right to assign or delegate its
rights and obligations under this Agreement. 

  

	 	9.2	 This Agreement shall be binding on Pledgor and its successors and permitted assigns, and shall be valid
with respect to Pledgee and each of its successors and assigns. 

  

	 	9.3	 At any time, Pledgee may assign any and all of its rights and obligations under the Services Agreement
to its designee(s) (natural/legal persons), in which case the assigns shall have the rights and obligations of Pledgee under this Agreement, as if it were the original party to this Agreement. When Pledgee assigns the rights and obligations under
the Services Agreement, upon Pledgee’s request, Pledgor shall execute relevant agreements or other documents relating to such assignment. 

  

	 	9.4	 In the event of a change of Pledgee due to an assignment, Pledgor shall, at the request of Pledgee,
enter into a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement. 

  

	10.	 TERMINATION 

Upon the fulfillment of all Contractual Obligations and the full payment of all Secured Indebtedness by Intelligent Technology and Pledgor,
this Agreement shall be terminated., 
  

	11.	 HANDLING FEES AND OTHER EXPENSES 

 

	 	11.1	 All fees and out of pocket expenses relating to this Agreement, including but not limited to legal
costs, costs of production, stamp tax and any other taxes and fees, shall be borne by Pledgor. If Pledgee pays such taxes and fees according to applicable laws, Pledgor shall reimburse Pledgee for such paid taxes and fees. 

 

	 	11.2	 Pledgor shall be responsible for all expenses (including, but not limited to, any taxes, application
fees, management fees, litigation costs, attorney’s fees, and various insurance premiums in connection with the disposition of the Pledge) incurred by Pledgee for the reason that Pledgor fails to pay any payable taxes, fees or charges or for
other reasons which cause Pledgee to recourse by any means or ways. 

  
 16 

	12.	 FORCE MAJEURE 

 

	 	12.1	 In the event that the affected party is delayed in or prevented from performing its obligations under
this Agreement by Force Majeure, only to the extent within the scope of such delay or prevention, the affected party will not be responsible for any damage by reason of such a failure or delay of performance. Force Majeure shall refer
to any event that is beyond the party’s reasonable control and cannot be prevented with reasonable care, including acts of governments, acts of nature, fire, explosion, typhoon, flood, earthquake, tide, lightning or war. However, any shortage
of credit, capital or finance shall not be regarded as an event beyond the reasonable control of a party. The party affected by Force Majeure shall notify the other party of such event and be exempted from its obligations under this Agreement
promptly. 

  

	 	12.2	 Although the affected party will not be responsible for any damage by reason of such a failure or delay
of performance caused by Force Majeure, the affected party shall be exempted from such liabilities when it uses its reasonable efforts to minimize or remove the effects of Force Majeure and attempt to resume performance of the
obligations delayed or prevented by the event of Force Majeure. After the event of Force Majeure is removed, both parties agree to use their best efforts to resume performance of this Agreement. 

 

	13.	 GOVERNING LAW AND RESOLUTION OF DISPUTES 

 

	 	13.1	 This Agreement shall be governed by and construed in accordance with the laws of PRC.

  

	 	13.2	 In the event of any dispute with respect to the construction and performance of this Agreement, the
parties shall first resolve the dispute through friendly negotiations. In the event the parties fail to reach an agreement on the dispute, either party may submit the relevant dispute to Guangzhou Arbitration Commission for arbitration in accordance
with its arbitration rules then in effect. The arbitration shall be conducted in Guangzhou, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on both parties. 

 

	14.	 NOTICES 

  

	 	14.1	 Any notice given by the parties hereto for the purpose of performing the rights and obligations
hereunder shall be in writing. If such notice is delivered by messenger, the time of receipt is the time when such notice is received by the addressee; if such notice is transmitted by telex or facsimile, the time of receipt is the time when such
notice is transmitted. If the notice does not reach the addressee on a business day or after the business time, the following business day shall be the date of receipt. The place of delivery is the party’s address first written above or the
address advised in writing including via facsimile and telex. 

  
 17 

	15.	 APPENDICES 

The appendices hereto shall be an integral part of this Agreement. 
  

	16.	 EFFECTIVENESS 

 

	 	16.1	 This Agreement is the amendment to the Original Pledge Agreement. If there is any conflict between the
Original Pledge Agreement and this Agreement, this Agreement shall prevail. Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective after the affixation of the signatures or seals of the parties.

  

	 	16.2	 This Agreement is written in Chinese in two originals. 

[Signature Page Follows] 

  
 18 

 
	
	Pledgee:
	
	EHang Intelligent Equipment (Guangzhou) Co., Ltd.
	
	 /s/ Huazhi Hu

	Huazhi Hu
	Authorized Representative
	
	 /s/ Seal of EHang Intelligent Equipment

(Guangzhou) Co., Ltd.

	
	Pledgor:
	
	 /s/ Weixian Xia

	Weixian Xia

 SIGNATURE PAGE TO SHARE
PLEDGE AGREEMENT 

 Appendices: 

1.    Shareholders’ Register of Intelligent Technology 

2.    Investment Certificate issued by Intelligent Technology 

  
 20

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