Document:

EX10.7 Cooperation Agreement (July 2015)

 Exhibit 10.7 

 
 Cooperation Agreement 

Party A: Beijing Netease Youdao Computer System Co., Ltd.
(北京网易有道计算机系统有限公司) 

Address: Room 207, Building No.3, Garden No.1, Zhongguancun East Road, Haidian District, Beijing 

Party B: Netease Youdao Information Technology (Beijing) Co., Ltd.
(网易有道信息技术(北京)有限公司
) 
 Address: Room 206, Building No.3, Qinghua Technology Garden, No.1 Zhongguancun East Road, Haidian District, Beijing 

WHEREAS: 
  

	1.	 Party A is a company registered at Beijing under the laws of the People’s Republic of China, mainly
engaging in the business of advertising agency and release and Internet information service. 

  

	2.	 Party B is a company registered at Beijing under the laws of the People’s Republic of China, mainly
engaging in development and manufacturing of computer software and hardware, system integration, and provision of technical consultation, technical training and technical services. 

THEREFORE, it is agreed below on the basis of mutual negotiations between Party A and Party B: 

 

	1.	 Contents of Cooperation 

 

	1.1	 Contents of Cooperation Provided by Party A 

Party A has the Value-added Telecommunications Service Business License of the website of Youdao and may engage in the business of Internet
information service as permitted by Beijing Communications Administration. In addition, Party A may engage in the business of advertising agency and release as permitted by Beijing Administration for Industry and Commerce. 

 

	1.2	 Contents of Cooperation Provided by Party B 

Party B will provide to Party A, according to this Agreement, the services including but not limited to the following: 

  
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	1.2.1	 Research and development of computer software (including but not limited to software related to Internet
advertising production, release, monitoring and management), and provision of technical support and maintenance services in connection with the operation of computer software; 

 

	1.2.2	 Services related to the design, development, update and upgrade of the advertising release platforms.

  

	1.2.3	 Internet technical service, including but not limited to, the maintenance of servers, and the development,
update and upgrade of the relevant application software. 

  

	2.	 Cooperation Methods of Services 

 

	2.1	 Party B shall pay the relevant costs regarding the services described in Section 1 above, including but
not limited to, remunerations for the research and development personnel, equipment lease fee and other relevant expenses. 

  

	2.2	 Both Party A and Party B agree that Party A shall collect the service revenue from the customers which shall be
then distributed as per the method set forth in Section 3 below. 

  

	2.3	 Party B agrees that Party A may cooperate with any third party it chooses, to jointly provide services to
Internet network customers and that the Distributable Revenue arising out of the foregoing cooperation shall be distributed as provided in Section 3 below. 

 

	3.	 Distribution of Service Revenue; Method of Payment 

Both Party A and Party B agree that the services revenue hereunder shall be distributed as per the following calculation formula: 

 

	3.1	 Calculation of the Distributable Revenue 

 

	    	 Both Party A and Party B agree that the monthly Internet information service revenue and network advertising
service revenue obtained by Party A from the customers with deduction of the Party A’s current-period payable turnover tax (e.g., the business tax and its surcharges; hereinafter, the “Payable Turnover Tax”), the costs and expenses in
connection with Party A’s operation of Internet information service and network advertising service (exclusive of the amounts distributed to Party B and the Group’s other cooperation companies) and the Profit Retainable by Party A shall be
the Distributable Revenue, which will serve as the basis for distribution among Party A, Party B and the Group’s other cooperation companies. The formula for calculation of the Distributable Revenue is below: 

 

	    	 The Distributable Revenue (exclusive of value added taxes) = The Service revenue (exclusive of value added
taxes) - The Payable Turnover Tax (exclusive of value added taxes) - The costs and expenses in connection with Party A’s Party A’s operation of Internet information service and network advertising service - The Profit Retainable by Party
A. 

  
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	    	 In case the Payable Turnover Tax in connection with the foregoing services is adjusted due to adjustment of the
governmental policy, both parties hereto may negotiate and determine a new distribution method through a written amendment hereto. 

  

	3.2	 Profit Retainable by Party A 

 

	    	 Both Party A and Party B agree that the formula for calculation of the Profit Retainable by Party A is below:

  

	    	 The Profit Retainable by Party A = 5% of the aggregate of the actual costs and expenses in connection with
Party A’s Party A’s operation of Internet information service and network advertising service (exclusive of the amounts distributed to Party B and the Group’s other cooperation companies). 

 

	3.3	 Calculation formula of the amount distributable to Party B 

 

	    	 The amount distributable to Party B (exclusive of value added taxes) = The Distributable Revenue - The amount
distributable by Party A to the Group’s other cooperation companies. 

  

	3.4	 On account that there may be large fluctuations among different months of each quarter in connection with Party
A’s revenue and that the Distributable Revenue of certain months may be calculated to be negative, thus both Party A and Party B agree that the settlement shall be made on a quarterly basis and that in the last month of each quarter, Party A
shall add the amounts of the Distributable Revenue of such quarter respectively calculated on the monthly basis as per Paragraphs 3.1 through 3.3 to be then distributed together to Party B. 

 

	3.5	 Method of Payment 

  

	    	 Within one (1) month following the settlement of each quarter, Party A shall pay the amount of the
immediately preceding quarter distributable to Party B to Party B’s account below by bank transfer: 

  

	    	 Party B’s account information 

 

	    	 Bank of Deposit: Beijing Jianguomenwai Outside Street Branch, China Construction Bank 

 

	    	 Account Name: Netease Youdao Information Technology (Beijing) Co., Ltd. (网易有道信息技术(北京)有限公司
) 

  

	    	 Account Number: ******************** 

  
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	4.	 Intellectual Property Rights and Confidentiality 

 

	4.1	 The rights, titles, ownerships and interests in, to and of any and all intellectual properties arising out of
the performance by Party B of this Agreement shall belong to Party B exclusively, including but not limited to, the copyrights, patents, know-how, trade secrets. 

 

	4.2	 With the right-holders’ written declaration of consent,, Party A may accept as the assignee the rights,
titles, ownerships and interests in, to and of any and all intellectual properties arising out of the performance by Party B of this Agreement, with the method of assignment to be separately negotiated and determined by the parties hereto.

  

	4.3	 Party B agrees that it will use its reasonable and best efforts to protect and keep confidential partial or all
of Party A’s information that is marked as “Confidential” or known by Party B as confidential information (“Confidential Information”). Unless agreed by Party A in writing in advance, Party B shall not disclose, provide or
transfer, to any third party any of such Confidential Information. Upon expiry or termination of this Agreement, Party B shall return to the owner(s) of the Confidential Information as requested by Party A, or destroy on its own, any and all
documents, materials and/or software containing the Confidential Information, and shall delete any and all Confidential Information in all electronic devices owned by Party B and shall not use any of such Confidential Information any longer.

  

	4.4	 Upon expiry or termination of this Agreement, Section 4.1 through Section 4.3 shall survive.

  

	5.	 Representations and Warranties 

 

	5.1	 Party A hereby represents and warrants below: 

 

	5.1.1	 Party A is a company lawfully registered at Beijing, and lawfully existing, under the laws of the People’s
Republic of China. 

  

	5.1.2	 Party A has all the rights, powers, authorities and capabilities, and all the consents and approvals, necessary
for execution, delivery and performance of this Agreement. 

  

	5.1.3	 This Agreement shall be lawful, effective and binding upon it after being signed and may be enforced against it
pursuant to its terms. 

  

	5.2	 Party B hereby represents and warrants below: 

 

	5.2.1	 Party B is a company lawfully registered at Beijing, and lawfully existing, under the laws of the People’s
Republic of China. 

  

	5.2.2	 Party B has all the rights, powers, authorities and capabilities, and all the consents and approvals, necessary
for execution, delivery and performance of this Agreement. 

  

	5.2.3	 This Agreement shall be lawful, effective and binding upon it after being signed and may be enforced against it
pursuant to its terms. 

  
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	6.	 Effect; Term of Cooperation 

 

	    	 This Agreement shall take effect as of the date of July 1, 2015, and will continue to be effective unless
earlier terminated pursuant to this Agreement. 

  

	7.	 Termination 

  

	7.1	 Under the condition that rights and remedies entitled to the party claiming termination hereof are not damaged
under the laws or for other reasons, either party may immediately terminate this Agreement by issuing a notice to the other party that materially violates this Agreement and fails to make remedies within thirty (30) days after its receipt of a
notice regarding the occurrence, and existence, of such violation. During the effective term of this Agreement, either party may terminate this Agreement by issuing a written notice to the other party thirty (30) days in advance.

  

	7.2	 Section 4 will survive after the expiry or termination of this Agreement. 

 

	8.	 Force Majeure 

 

	8.1	 A Force Majeure Event shall refer to any event that is out of control of either party hereto and cannot be
avoided with due care of the affected party, including but not limited to, governmental acts, natural force, fires, explosions, storms, floods, earthquakes, tides, lightning or wars. However, insufficiency in credit, funds or financing shall not be
deemed to be an Force Majeure Event. The party that is affected by a Force Majeure Event and seeks to exempt from the performance of its obligations hereunder shall notify such event to the other party as soon as practical. 

 

	8.2	 In the event that either party’s performance of this Agreement is delayed or prevented by a Force Majeure
Event, either party t shall not be held liable for the other party’s loss, increased expenses or damages arising out of or in connection with such party’s delay or failure in performance of this Agreement due to the Force Majeure Event,
which shall not be deemed to be a default under this Agreement. However, the party asserting the occurrence of a Force Majeure Event shall use its reasonable efforts to reduce or eliminate the influences from the Force Majeure Event. Once the Force
Majeure Event is eliminated, the parties affected by the Force Majeure Event agree to use their best efforts to restore the performance of this Agreement. 

  

	9.	 Governing Law 

The validity, interpretation and performance shall be governed by the laws of the People’s Republic of China. 

  
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	10.    Notice	 

  

	    	 Any notice or other communication sent pursuant to the provisions of this Agreement shall be made in Chinese
and English, and shall be sent to the following address of the corresponding party or parties by personal delivery, registered airmail, airmail with postage prepaid, or recognized express service or facsimile (if sent by facsimile, the facsimile
shall be accompanied by sending of a photocopy of the document to be sent). 

 Party A: Beijing Netease Youdao Computer System Co.,
Ltd. (北京网易有道计算机系统有限公司)

 Room 207, Building No.3, Garden No.1, Zhongguancun East Road, Haidian District, Beijing 

Party B: Netease Youdao Information Technology (Beijing) Co., Ltd.
(网易有道信息技术(北京
)有限公司) 

Address: Room 206, Building No.3, Qinghua Technology Garden, No.1 Zhongguancun East Road, Haidian District, Beijing 

 

	11.	 Assignment 

  

	11.1	 Neither party may transfer any of its rights or obligations hereunder to any third party unless agreed by the
other party in advance. 

  

	11.2	 Party A hereby agrees that Party B may decide at its own discretion to transfer any of its rights or
obligations hereunder to any third party and Party B only need to send a written notice to Party A regarding such assignment, without seeking consent from Party A regarding such assignment. 

 

	12.	 Severability 

  

	    	 In case any provision hereof is held to be invalid, illegal or unenforceable due to any law, such provision
shall be invalid only within that jurisdiction, shall not affect the validity of the other provisions hereof within that jurisdiction, and shall not result in invalidity, illegality or unenforceability of such provision or other provisions under any
other jurisdictions. 

  

	13.	 Amendment 

  

	    	 This Agreement may be amended or supplemented through a written agreement by Party A and Party B. The
amendment(s) or supplement agreement hereto properly signed by the parties hereto shall form part of this Agreement and shall have same legal force with this Agreement. 

  
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	14.	 Miscellaneous 

 

	    	 This Agreement is made in four (4) copies, two (2) for each party. 

[The remainder of this page is intentionally left blank.] 

  
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 Party A: Beijing Netease Youdao Computer System Co., Ltd. (北京网易有道计算机系统有限公司) 

Authorized Representative: /s/ Lei Ding 
 /s/ Seal of
Beijing Netease Youdao Computer System Co., Ltd. 
 Party B: Netease Youdao Information Technology (Beijing) Co., Ltd. (网易有道信息技术(北京)有限公司
) 
 Authorized Representative: /s/ CHOI Onward 

/s/ Seal of Netease Youdao Information Technology (Beijing) Co., Ltd. 

  
 8EX10.8 Shareholder Voting Right Trust Agreement (September 2016)

 Exhibit 10.8 

SHAREHOLDER VOTING RIGHT TRUST AGREEMENT 

This Shareholder Voting Right Trust Agreement (this “Agreement”) is entered into as of September 26, 2016 between the following two
parties in Beijing. 
 Party A: NetEase Youdao Information Technology (Beijing) Co., Ltd., a wholly foreign owned enterprise registered in Beijing,
PRC under the laws of the PRC 
 Party B: William Lei Ding (ID Number: ***********), a citizen of the People’s Republic of China with his
address at *********** (the “PRC”) 
 In this Agreement, Party A and Party B are called collectively as the “Parties” and
each of them is a “Party.” 
 WHEREAS 
  

	1.	 Party B is a shareholder of NetEase Youdao Computer System Co., Ltd. (the “Company”) on
September 26, 2016, in which Party B owns 71.073% of the equity interests. 

  

	2.	 Party B is willing to entrust the person designated by Party A with full authority to exercise his
shareholder’s voting rights at the Company’s shareholders’ meetings. 

 NOW, THEREFORE, through negotiations, all
parties to this Agreement hereby agree as follows: 
  

	1.	 Party B hereby agrees to irrevocably entrust the person designated by Party A to exercise on his/her behalf all
shareholder’s voting rights and other shareholder’s rights at the shareholders’ meeting of the Company in accordance with PRC law and the Company’s articles of association, including, but not limited to, with respect to the sale
or transfer of all or part of Party B’s equity interests in the Company and the appointment and election of the directors and chairman of the Company. 

  

	2.	 Party A agrees to designate a person to accept the entrustment by Party B pursuant to Article 1 of this
Agreement, and such person shall represent Party B in the exercise of Party B’s shareholder’s voting rights and other shareholder’s rights pursuant to this Agreement. 

 

	3.	 Party B hereby acknowledges that, regardless how his/her equity interests in the Company will change, he/she
shall entrust the person designated by Party A with all of his/her shareholder’s voting rights and other shareholder’s rights. If Party B transfers his/her equity interests in the Company to any individual or company, other than Party A or
the individuals or entities designated by Party A (each, a “Transferee”), Party B shall cause such Transferee to, concurrently with the execution of the equity transfer documents, sign an agreement with the same terms and conditions
as this Agreement to entrust the person designated by Party A with the shareholder’s voting rights and other shareholder’s rights of the Transferee. In the event of Party B’s death or incapacity, the terms of this Agreement shall be
binding upon the executors, administrators, heirs and successors of Party B. Any equity interests in the Company held by Party B shall not be part of Party B’s estate upon death or incapacity and shall not pass to Party B’s heirs or
successors. Upon Party B’s death or incapacity, any equity interests in the Company held by Party B shall be transferred to Party A or its designated person(s). 

  
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	4.	 Party B hereby acknowledges that if Party A withdraws the appointment of the relevant person to whom Party B
has entrusted his shareholder’s voting rights and other shareholder’s rights, he/she will withdraw his/her authorization for this person and authorize other persons designated by Party A to exercise his/her shareholder’s voting rights
and other shareholder’s rights at the shareholders’ meeting of the Company. 

  

	5.	 This Agreement shall become effective as of the date it is duly executed by the Parties’ authorized
representatives. 

  

	6.	 Notwithstanding Article 5 hereof, once effective, this Agreement shall constitute the entire agreement of the
Parties hereto with respect to the subject matters hereof and supersede all prior oral and/or written agreements and understandings by the Parties with respect to the subject matters hereof. 

 

	7.	 This Agreement shall remain effective for as long as Party B is a shareholder of the Company unless this
Agreement is unilaterally terminated by Party A at its sole and absolute discretion by giving thirty (30) days prior written notice to Party B of its intention to terminate this Agreement. 

 

	8.	 Any amendment to, and/or cancellation of, this Agreement shall be agreed by the Parties in writing.

  

	9.	 Both Parties acknowledge and confirm that any oral or written materials exchanged pursuant to this Agreement
are confidential. Each Party shall keep confidential all such materials and not disclose any such materials to any third Party without the prior written consent from the other Parties except in the following situations: (a) such materials are
or will become known by the public (through no fault of the receiving Party); (b) any materials as required to be disclosed by the applicable laws or rules of any stock exchange or governmental entity; and (c) any materials disclosed by each
Party to its legal or financial advisors relating to the transactions contemplated by this Agreement, and such legal or financial advisors shall comply with the confidentiality provisions set forth in this Article 9. Any disclosure of confidential
information by the personnel of any Party or by the institutions engaged by such Party shall be deemed as a disclosure by such Party, and such Party shall be liable for the breach under this Agreement. Both Parties agree that this Article 9 shall
survive the invalidity, cancellation, termination or unenforceability of this Agreement. 

  

	10.	 Applicable Laws and Dispute Resolution 

 

	 	a.	 The formation, validity, interpretation and performance of and settlement of disputes under this Agreement
shall be governed by the laws of the PRC. 

  
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	 	b.	 Any dispute, conflict, or claim arising in connection with the interpretation and performance of the provisions
of this Agreement (including any issue relating to the existence, validity, and termination of this Agreement) shall be resolved by the Parties in good faith through negotiations. In case no resolution can be reached by the Parties within thirty
(30) days after a Party makes a request for dispute resolution through negotiations, any Party may refer such dispute to a competent court having legal jurisdiction over the registration place of Party A. The Parties agree to submit to the
jurisdiction of such court. The Parties agree that the dispute and any court proceedings shall be kept confidential and that the existence of the proceedings and any element of it (including but not limited to any pleadings, briefs or other
documents submitted or exchanged, any testimony or other oral submissions, and any awards) shall not be disclosed beyond the court, the Parties, their counsels and any person necessary to the conduct of the proceeding, except as may be lawfully
required in judicial proceedings or as required by the rules of the U.S. Securities and Exchange Commission, the NASDAQ stock market rules or the rules of any other quotation system or exchange on which the securities of the disclosing Parties or
their affiliates are listed or as otherwise required by applicable law. The Parties further agree to request that the court conduct any proceedings in closed session and to keep the existence of the proceedings and any element of it, including the
decision of the court, confidential and refrain from publishing or otherwise disclosing any of the foregoing information to the public, except as may be lawfully required in judicial proceedings or as otherwise required by applicable law.

 [Signature page follows] 

  
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 Party A: NetEase Youdao Information Technology (Beijing) Co., Ltd. 

/s/ Seal of NetEase Youdao Information Technology (Beijing) Co., Ltd. 

Party B: William Lei Ding 
 Signature: /s/ William Lei
Ding 
 This Agreement is agreed and accepted by: 

NetEase Youdao Computer System Co., Ltd. 
 /s/ Seal of
NetEase Youdao Computer System Co., Ltd. 

  
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