Document:

EX-10.10

 Exhibit 10.10 

EQUITY PLEDGE AGREEMENT (SECOND RESTATEMENT) 

This Equity Pledge Agreement (Second Restatement) (this “Agreement”) is entered into by and among the following parties on
June 8, 2017: 
  

	 	(1)	Rise Tianjin Education Information Consulting Co., Ltd. (the “Pledgee”), a wholly foreign-owned enterprise established in accordance with laws of the People’s Republic of China (the
“PRC”) with its domicile at No. B206, B212, B213, B214, B217, B221, 2/F, Building (1), No. 8 Huanhe West Road, Tianjin Free Trade Zone (Airport Economic Area); 

 

	 	(2)	Yiding SUN (ID Card No.:                    ) (“Pledgor A”), a PRC citizen with an address at
Room 103-105, Andrews Estate, No. 181 Gaobeidian Road, Chaoyang District, Beijing; 

  

	 	(3)	Peng ZHANG (ID Card No.:                    ) (“Pledgor B”), a PRC citizen with an
address at 206, Building 6, Lane 88, Huichuan Road, Changning District, Shanghai (together with Pledgor A, the “Pledgors” and each, a “Pledgor”); and 

 

	 	(4)	Beijing Step Ahead Education Technology Development Co., Ltd. (the “Domestic Company”), a limited liability company registered in Beijing, the PRC, with its domicile at No. C01-1, 4/F,
No. 42 Beiyuan Road, Chaoyang District, Beijing. 

 The Pledgee, the Pledgors and the Domestic Company are hereinafter
collectively referred to as the “Parties” and, individually, as a “Party”. 
 Whereas: 

 

	 	(A)	Pledgor A and Zihong WANG entered into the Equity Transfer Agreement on June 8, 2017, according to which Zihong WANG shall transfer 20% of the equity interests held by him in the Domestic Company to Pledgor A. In
order to pay the consideration of equity transfer and the taxes in connection with such equity transfer, Pledgor A and the Pledgee entered into the Loan Agreement on June 8, 2017, according to which the Pledgee provided Pledgor A with a loan in
an aggregate amount equivalent to the sum of RMB400,000 and the taxes payable in respect of the execution and performance of the Equity Transfer Agreement 

  

	 	(B)	Pledgor B holds 80% of the equity interests in the Domestic Company. In accordance with the Loan Agreement entered into by and between the Pledgee and Pledgor B on November 11, 2016 (together with the
aforementioned Loan Agreement, the “Loan Agreements”), the Pledgee provided Pledgor B with a loan in an aggregate amount equivalent to a sum of RMB1,600,000 and the taxes payable in respect of the execution and performance of the
Equity Transfer Agreement executed by Pledgor B and Zhenyu ZHANG on November 11, 2016. 

	 	(C)	The shareholding structure of the Domestic Company as of the date of execution of this Agreement is set forth in Appendix I. 

  

	 	(D)	Pursuant to the Call Option Agreement (Second Restatement) entered into by and among the Pledgee, the Pledgors and the Domestic Company on June 8, 2017 (the “Call Option Agreement”), the Pledgors
agreed, subject to the PRC law, to transfer the equity interests of the Domestic Company to the Pledgee and/or any individual or entity as designated by the Pledgee at the request of the Pledgee. 

 

	 	(E)	Pursuant to the Proxy Agreement (Second Restatement) entered into by and among the Pledgee, the Pledgors and the Domestic Company on June 8, 2017 (the “Proxy Agreement”), the Pledgors irrevocably
appointed the Pledgee as proxy and authorized the Pledgee with full power to exercise on their behalf all of their shareholders’ voting rights in respect of the Domestic Company. 

 

	 	(F)	Pursuant to the Business Cooperation Agreement (Second Restatement) entered into by and among the Pledgee, the Pledgors and the Domestic Company on June 8, 2017 (the “Business Cooperation
Agreement”), the Pledgee and the Domestic Company agreed on specific arrangements regarding the business cooperation. 

  

	 	(G)	Pursuant to the Equity Pledge Agreement (Restatement) entered into by and among Zihong WANG, the Pledgee, the Domestic Company and Pledgor B on November 11, 2016, Zihong WANG pledged 20% of the equity interests
held by him in the Domestic Company to the Pledgee. Given Zihong WANG transferred 20% of the equity interests held by him in the Domestic Company to Pledgor A, Zihong WANG, the Pledgee, the Domestic Company and Pledgor B entered into the Termination
Agreement on June 8, 2017, according to which Zihong WANG ceased to be a party to the Equity Pledge Agreement (Restatement). The Parties wish to further restate the Equity Pledge Agreement (Restatement) and enter into the Equity Pledge
Agreement (Second Restatement). The Pledgors agree to pledge all of their equity interests in the Domestic Company to the Pledgee and grant the Pledgee the right to repayment in first priority as a guarantee for the Pledgors and the Domestic Company
to perform their Contractual Obligations (as defined below) and discharge and repay the Secured Debts (as defined below). 

Therefore, the Parties enter into this Agreement as follows upon friendly negotiation: 

 

	1.	Definitions 

  

	 	1.1	Unless as otherwise defines in the context, the following terms in this Agreement shall have the following meanings: 

“Breaching Event” shall mean any breach by any of the Pledgors or the Domestic Company of any of his/her/its Contractual
Obligations (as defined below). 

  
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 “Contractual Obligations” shall mean (A) the obligations of
the Pledgors to repay the loan in the aggregate amount of RMB2,000,000 and the taxes payable in respect of the execution and performance of the Equity Transfer Agreement under the Loan Agreements, and all contractual obligations of the Pledgors
under the Call Option Agreement, the Proxy Agreement and the Business Cooperation Agreement and this Agreement; and (B) all contractual obligations of the Domestic Company under the Business Cooperation Agreement and this Agreement. 

“Pledged Equity” shall mean all of the equity interests in the Domestic Company which are owned by the Pledgors during
the term of this Agreement and are pledged to the Pledgee pursuant to the provisions hereof as the security for the Secured Debts (as defined below). 

“PRC Law” shall mean the effective laws, administrative regulations, administrative rules, local regulations, judicial
interpretations and other binding regulatory documents of the PRC. 
 “Secured Debts” shall mean all direct, indirect and
consequential losses and losses of foreseeable profits suffered by the Pledgee due to any Breaching Event of any of the Pledgors or the Domestic Company, and all fees incurred by the Pledgee for the enforcement of the Contractual Obligations of the
Pledgors or the Domestic Company. 
 “Transaction Agreements” shall mean the Loan Agreements, the Call Option Agreement, the
Proxy Agreement and the Business Cooperation Agreement. 
  

	 	1.2	The references to any PRC Law herein shall be deemed: 

  

	 	(1)	to include the amendments, changes, supplements and reenactments of such law, irrespective of whether they take effect before or after the formation of this Agreement; and 

 

	 	(2)	to include other decisions, notices or regulations enacted in accordance with such law or effective as a result thereof. 

  

	 	1.3	Unless as otherwise stated in the context herein, all references to an Article, clause, item or paragraph shall refer to the relevant article, clause, item or paragraph of this Agreement. 

 

	 	1.4	A “Working Day” referred to in this Agreement means any day other than a Saturday, Sunday or statutory holiday in the PRC. 

  
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	2.	Equity Pledge 

  

	 	2.1	The Pledgors hereby pledge all of their rights, ownership and interests upon the Pledged Equity (whatever currently owned or acquired in the future) to the Pledgee as security for the timely and full repayment or
fulfillment by the Pledgors and the Domestic Company of the Contractual Obligations (the “Equity Pledge”). 

  

	 	2.2	The Pledgors have been or will be registered at the local branch of the State Administration for Industry and Commerce (the “AIC”) as the shareholders of the Domestic Company holding their respective
proportions of equity interests in the Domestic Company as set forth in Recital (A) and (B) above and hold such equity interests free and clear of any security interests except for the Equity Pledge as provided in this Agreement.

  

	 	2.3	The Pledgors hereby undertake that they will be responsible for recording the Equity Pledge under this Agreement on the register of shareholders of the Domestic Company on the date hereof. The Pledgors undertake to
complete the registration of the Equity Pledge with the AIC within thirty (30) Working Days from the date hereof (or a longer term agreed by the Pledgee), and the Domestic Company and the Pledgee shall fully cooperate with the Pledgors to
complete such registration. 

  

	 	2.4	During the term of this Agreement, the Pledgee shall not be liable in any way for impairment in value of the Pledged Equity, nor shall the Pledgors have any right to make any claims against the Pledgee for such
impairment in value, except where such impairment in value is directly caused by the Pledgee’s willful misconduct or gross negligence. 

  

	 	2.5	Upon the occurrence of any Breaching Event, the Pledgee shall have the right to dispose of the Pledged Equity in the manner set forth in Article 4 hereof. 

 

	 	2.6	Without the prior written consent of the Pledgee, the Pledgors shall not increase the registered capital of the Domestic Company by contributing additional capital, or allowing any third party to contribute additional
capital, to the Domestic Company. 

  

	 	2.7	Without the prior written consent of the Pledgee, the Pledgors shall not adopt any shareholders’ resolution or otherwise permit the Domestic Company to declare or distribute any dividends or profits.

  

	 	2.8	Without the prior written consent of the Pledgee, the Pledgors shall not enter into any transactions with the Domestic Company or any of its subsidiaries (including any private school sponsored by the Domestic Company
or any of its subsidiaries as the sponsor, same below). 

  

	 	2.9	Within 5 Working Daysfrom the date hereof (or a longer term agreed by the Pledgee), the Pledgors shall provide the original of the capital contribution certificates (if any) held by it in respect of the Pledged Equity
and the original of the register of shareholders of the Domestic Company recording the Equity Pledge to the Pledgee to keep within the term of the Equity Pledge. In case of any change in the percentage of the equity interests held by the Pledgors in
the Domestic Company, the Pledgors shall, within 5 Working Days from the date on which such change in the percentage of the equity interests is registered with the AIC, provide the original of the updated capital contribution certificates (if any)
held by it in respect of the Pledged Equity and the original of the updated register of shareholders of the Domestic Company recording the Equity Pledge to the Pledgee to keep for the term of the Equity Pledge. During the term of this Agreement, the
Pledgee shall be responsible for keeping the originals of such documents. 

  
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	 	2.10	During the term of this Agreement, the Pledgee shall have the right to receive the dividends distributed and any other allocation paid in respect of the Pledged Equity. 

 

	3.	Release of Pledge 

 Upon full and complete performance by relevant Pledgor and the
Domestic Company of all of their Contractual Obligations (including the full discharge and satisfaction of the Secured Debts), the Pledgee shall, at the request of the Pledgor, release the pledge, and shall cooperate with relevant Pledgor to
complete relevant formalities to deregister the the Equity Pledge recorded in the register of shareholders of the Domestic Company and registered with the AIC, and all expenses reasonably incurred in connection with such release shall be borne by
the Domestic Company. The Parties shall cause the Domestic Company to bear such expenses. 
  

	4.	Disposal of the Pledged Equity 

  

	 	4.1	The Pledgors and the Pledgee hereby agree that, upon the occurrence of any Breaching Event, the Pledgee shall have the right to exercise, after giving a written notice to the Pledgors, all of the rights and powers of
the Pledgors under the PRC Law, the Transaction Agreements and the terms hereof, including but not limited to being repaid in priority with the proceeds from the sale of the Pledged Equity. If the Pledgee decides to dispose of the Pledged Equity in
accordance with this Agreement, the Pledgors and the Domestic Company shall provide all necessary assistance to secure the Pledgee to enforce the Equity Pledge in accordance with this Agreement. 

 

	 	4.2	The Pledgee shall have the right to designate in writing its legal counsel or other agents to exercise on its behalf any and all rights and powers set forth above, and the Pledgors shall not raise any objection thereto.

  

	 	4.3	The reasonable costs incurred by the Pledgee in connection with its exercise of any and all rights and powers set out above shall be borne by the Pledgors, and the Pledgee shall have the right to deduct the costs
actually incurred from the proceeds that it acquires from the exercise of its rights and powers. 

  
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	 	4.4	The proceeds that the Pledgee acquires from the exercise of its rights and powers shall be used in the following order of priority: 

  

	 	(1)	first, to pay any cost incurred in connection with the disposal of the Pledged Equity and the exercise by the Pledgee of its rights and powers (including any remuneration paid to its legal counsels and agents);

  

	 	(2)	second, to pay any taxes and fees payable in connection with the disposal of the Pledged Equity (for the avoidance of doubt, such taxes shall not include any income tax); and 

 

	 	(3)	third, to repay the Secured Debts to the Pledgee. 

 Any proceeds remaining after the payment of
the above amounts shall be paid by the Pledgors to the Pledgee or its designated person in a way as instructed by the Pledgee. The Pledgee has no obligation to assume any liabilities to the Pledgors in connection with the proceeds from the disposal
of the Pledged Equity, and the Pledgors hereby waive any right it may have to claim such proceeds from the Pledgee. 
  

	5.	Continuity and No Waiver 

 The Equity Pledge hereunder shall be a continuous security and
remain valid until the full performance of the Contractual Obligations or the full discharge and satisfaction of the Secured Debts. Neither exemption or grace period granted by the Pledgee to the Pledgors in respect of any breach, nor delay by the
Pledgee in exercising any of its rights under the Transaction Agreements and this Agreement, shall affect the rights of the Pledgee under this Agreement, relevant PRC Law and the Transaction Agreements, the rights of the Pledgee to demand at any
time thereafter the strict performance by the Pledgors of the Transaction Agreements and this Agreement, or the rights the Pledgee may be entitled to due to any subsequent breach by the Pledgors of the Transaction Agreements and/or this Agreement.

  

	6.	Representations and Warranties 

  

	 	6.1	During the term from the date of this Agreement to the date of the termination or expiration of this Agreement, the Pledgors represent and warrant to the Pledgee as follows: 

 

	 	(a)	Each of the Pledgors is a PRC citizen with the power and capacity to execute this Agreement and perform his/her obligations under this Agreement. 

  
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	 	(b)	The execution and performance of this Agreement by the Pledgors will neither violate any laws and regulations or government approvals, authorizations, notices or other governmental documents having binding effect on or
affecting the Pledgors, nor violate any agreements between the Pledgors and any third party or any covenants made to any third party. 

  

	 	(c)	This Agreement shall constitute lawful, valid and enforceable obligations of the Pledgors. 

  

	 	(d)	All reports, documents and information provided by the Pledgors to the Pledgee are true, correct and accurate in all material respects. 

 

	 	(e)	The Pledgors are the sole legal owners of the Pledged Equity. There is no dispute concerning the ownership of the Pledged Equity. Except for the restrictions imposed by the Transaction Agreements and this Agreement, the
Pledgors have the right to dispose of the Pledged Equity or any part thereof. 

  

	 	(f)	Except for the security interests created over the Pledged Equity hereunder and otherwise agreed by the Parties and the rights set forth under the Transaction Agreements, there is no other security interest or third
party right over the Pledged Equity. 

  

	 	(g)	The Pledged Equity can be pledged or transferred according to the PRC Law, and the Pledgors have the full right and power to pledge the Pledged Equity to the Pledgee in accordance with this Agreement. 

 

	 	(h)	Any consent, permission, waiver or authorization by any third party, or any approval, permission or exemption by any governmental authority, or any registration or filing formalities with any governmental authority as
required to be completed or obtained in respect of the execution and performance hereof and the creation of the Equity Pledge hereunder have been or will be handled or obtained, and will be fully effective during the term of this Agreement.

  

	 	(i)	The pledge hereunder constitutes a first ranking pledge on the Pledged Equity. 

  

	 	(j)	There is no pending or, to the knowledge of the Pledgors, threatened litigation, legal proceedings or claims brought by any court or arbitral tribunal or any governmental authority or administrative authority against
each Pledgor or his/her property or the Pledged Equity, which may have a material adverse effect on the economic status of each Pledgor or his/her capability to perform the obligations under this Agreement and the Transaction Agreements or to
discharge and satisfy the Secured Debts. There is no pending or, to the knowledge of the Pledgors, threatened litigation, legal proceedings or claims brought against each Pledgor or his/her property or the Pledged Equity. 

  
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	 	6.2	During the term from the date of this Agreement to the date of the termination or expiration of this Agreement, the Pledgee represents and warrants to the Pledgors as follows: 

 

	 	(a)	The Pledgee is a wholly foreign-owned enterprise duly established and existing under the PRC Law. 

  

	 	(b)	The Pledgee has the power to execute and perform its obligations under this Agreement. The execution and performance of this Agreement by the Pledgee is in compliance with the articles of association or other
organizational documents of the Pledgee, and the Pledgee has obtained all necessary and appropriate approvals and authorizations to execute and perform this Agreement. 

 

	 	(c)	This Agreement shall constitute lawful, valid and enforceable obligations of the Pledgee. 

  

	 	6.3	During the term from the date of this Agreement to the date of the termination or expiration of this Agreement, the Domestic Company represents and warrants to the Pledgee as follows: 

 

	 	(a)	The Domestic Company is a limited liability company duly established and existing under the PRC Law. 

  

	 	(b)	The Domestic Company has the power to execute and perform its obligations under this Agreement. The execution and performance of this Agreement by the Domestic Company is in compliance with the articles of association
or other organizational documents of the Domestic Company, and the Domestic Company has obtained all necessary and appropriate approvals and authorizations to execute and perform this Agreement. 

 

	 	(c)	The execution and performance of this Agreement by the Domestic Company will neither violate any laws and regulations or government approvals, authorizations, notices or other governmental documents having binding
effect on or affecting the Domestic Company, nor violate any agreements between the Domestic Company and any third party or any covenants made to any third party. 

 

	 	(d)	Any consent, permission, waiver or authorization by any third party, or any approval, permission or exemption by any governmental authority, or any registration or filing formalities with any governmental authority as
required to be completed or obtained in respect of the execution and performance hereof and the creation of the Equity Pledge hereunder have been or will be handled or obtained, and will be fully effective during the term of this Agreement.

  
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	 	(e)	This Agreement shall constitute lawful, valid and enforceable obligations of the Domestic Company. 

  

	7.	Undertakings by the Pledgors and the Domestic Company 

  

	 	7.1	The Pledgors hereby undertake to the Pledgee as follows: 

  

	 	(a)	Without the prior written consent of the Pledgee, the Pledgors shall not create or permit to create any other pledge or any other security interests on the Pledged Equity. Without such prior written consent, any pledge
or other security interests on all or part of the Pledged Equity shall be null and void. 

  

	 	(b)	Without the prior written consent of the Pledgee, the Pledgors shall not transfer the Pledged Equity, and any attempt by the Pledgors to transfer the Pledged Equity shall be null and void. The proceeds from the transfer
of the Pledged Equity by the Pledgors shall be used to prepay the Secured Debts to the Pledgee or submit the same to the third party agreed by the Pledgee. 

  

	 	(c)	The Pledgors shall promptly notify the Pledgee of any litigation, arbitration, claim or other actions which may adversely affect the interest of the Pledgors or the Pledgee under the Transaction Agreements and hereunder
or in respect of the Pledged Equity, and shall timely notify the Pledgee of the progress of such litigation, arbitration, claim or actions, and shall take all reasonable measures to defend such actions and protect the interest of the Pledgee in the
Pledged Equity. 

  

	 	(d)	The Pledgors shall not take or permit any act or action which may adversely affect the interest of the Pledgors and the Pledgee under the Transaction Agreements and hereunder or in respect of the Pledged Equity.

  

	 	7.2	The Domestic Company shall, within the first month of each calendar quarter, provide the Pledgee with the financial statements of the Domestic Company and its subsidiaries, including (but not limited to) the balance
sheet, the profit statement and the cash flow statement of the Domestic Company and its subsidiaries for the previous calendar quarter. 

  
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	8.	Change of Circumstances 

 As a supplement to comply with the Transaction
Agreements and other provisions of this Agreement, in the event of any promulgation or amendment of any PRC Law, regulations or rules, or any change of relevant registration procedures which causes the Pledgee to believe that it will be illegal or
in conflict with such laws, regulations or rules to further maintain the effectiveness of this Agreement and/or dispose of the Pledged Equity in the manner provided herein, the Pledgors shall, at the written instruction of the Pledgee and in
accordance with the reasonable request of the Pledgee, promptly take all actions and/or execute any agreement or other document, in order to: 
  

	 	(1)	keep this Agreement legal and effective; 

  

	 	(2)	facilitate the disposal of the Pledged Equity in the manner provided herein; and/or 

  

	 	(3)	maintain or realize the intention or the security established hereunder. 

  

	9.	Effectiveness and Term of the Agreement 

  

	 	9.1	The pledge under this Agreement shall become effective when the Equity Pledge has been legally recorded in the register of shareholders of the Domestic Company and registered with the AIC to the extent permitted by the
AIC and practicable. The Pledgors shall carry out all approval, registration and filing formalities as required by the PRC Law (including but not limited to the registration of the Equity Pledge with the AIC in a timely manner to the extent
permitted by the AIC and practicable). 

  

	 	9.2	This Agreement shall continue to be valid until the full performance of the Contractual Obligations or the full discharge and satisfaction of the Secured Debts. 

	10.	Notices 

 Any notice, claim, certificate, request, demand and other communication under
this Agreement shall be made in writing and shall be delivered to the Parties hereto by hand, by facsimile or by a reputable overnight courier service with postage prepaid at the following addresses (or at such other address as notified by a Party),
and shall be deemed to be given when it is delivered to the receiving Party if it is delivered by hand, or upon the receipt of a confirmed transmittal report if it is sent by facsimile, or five (5) days after the delivery to or pickup by the
overnight courier service if it is sent by an overnight courier: 
  

			
	To the Pledgee:	 	 Rise Tianjin Education Information Consulting Co., Ltd.

Address: No. B206, B212, B213, B214, B217, B221, 2/F, Building (1), No. 8 Huanhe West Road, Tianjin Free Trade Zone (Airport Economic Area), the PRC

Telephone: 13910985656
 Attention: Yiding SUN

		 
		 
		 
		
		 	with a copy to: Bain Capital Asia, LLC
		 	Address: 51/F Cheung Kong Center, 2 Queen’s Road Central, Hong Kong
		 	Attention: Drew Chen
		 	Telephone: +8 52 3656-6881
		
	To Pledgor A:	 	 Yiding SUN
 Address: Room
103-105, Andrews Estate, No. 181 Gaobeidian Road, Chaoyang District, Beijing
 Telephone: 13910985656

		 
		 
		
	To Pledgor B:	 	 Peng ZHANG
 Address: 206,
Building 6, Lane 88, Huichuan Road, Changning District, Shanghai
 Telephone: 15921601703

		 
		 
		
	To the Domestic Company:	 	 Beijing Step Ahead Education Technology Development Co., Ltd.

Address: No. C01-1, 4/F, No. 42 Beiyuan Road, Chaoyang District, Beijing

Telephone: 13910985656
 Attention: Yiding SUN

		 
		 
		 

  

	11.	Confidentiality 

 The Parties acknowledge and confirm that any oral or written
information exchanged among them with respect to this Agreement shall be confidential information. The Parties shall maintain the confidentiality of all such information. Without the prior written consent of the Party providing such information, any
Party shall not disclose any confidential information to any third party, except in the following circumstances: (a) such information is or comes into the public domain (through no fault or disclosure by the receiving Party); (b) the
information is required to be disclosed in accordance with applicable laws or rules or regulations of any stock exchange; or (c) the information regarding the transaction contemplated hereunder has to be disclosed by any Party to its legal or
financial advisors, and such legal or financial advisors are also bound by duties of confidentiality similar to the duties set forth in this Article. Any disclosure of any confidential information made by the staff, employee or advisor of any Party
shall be deemed as disclosure of such confidential information made by such Party, for which such Party shall be held liable for breach of this Agreement. This Article shall survive the termination of this Agreement if this Agreement is terminated
for any reason. 
  

	12.	Applicable Law and Dispute Resolution 

  

	 	12.1	The formation, effect, interpretation, performance, amendment, termination and dispute resolution of this Agreement shall be governed by the PRC Law. 

  
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	 	12.2	Any dispute arising from the interpretation and performance of this Agreement shall first be resolved through friendly consultations by the Parties. If the dispute fails to be resolved within thirty (30) days after
a Party gives a notice requesting consultations to another Party, any Party may submit such dispute to China International Economic and Trade Arbitration Commission (the “CIETAC”) for arbitration in Beijing in accordance with then
effective arbitration rules of the CIETAC. The arbitration tribunal shall consist of three (3) arbitrators who may or may not be on the CIETAC’s list of arbitrators. The Pledgee shall appoint one arbitrator and the Pledgors and the
Domestic Company shall jointly appoint one arbitrator. The third arbitrator, who shall be the chairman of the arbitration tribunal, shall be jointly appointed by the Parties to the arbitration. The arbitration award shall be final and binding on the
Parties. 

  

	 	12.3	During the existence of any dispute, the Parties shall continue to exercise their remaining respective rights and fulfill their remaining respective obligations under this Agreement, except insofar as the same may
relate directly to the matters in dispute. 

  

	 	12.4	Notwithstanding the foregoing, the Parties agree that either of them may seek interim measures including seeking property preservation from any court of competent jurisdiction in relation to the provisions of this
Agreement or the Parties’ performance of this Agreement. 

  

	13.	Miscellaneous 

  

	 	13.1	The Pledgee may assign its rights and/or obligations hereunder to any third party after notifying the Pledgors and the Domestic Company but without the Pledgors and the Domestic Company’s consents. Without the
Pledgee’s prior written consent, the Pledgors or the Domestic Company shall not assign any of their rights, obligations and/or liabilities hereunder to any third party. The successors or permitted assignees (if any) of the Pledgors and the
Domestic Company shall be bound by, and continue to perform, the obligations of the Pledgors and the Domestic Company under this Agreement.

  

	 	13.2	If the Pledgee assigns its rights hereunder to any third party (the “Assignee”) in accordance with this Agreement, the Pledgors, at the request of the Pledgee, shall execute a new equity pledge
agreement with the Assignee based on the same terms and conditions as those in this Agreement, and shall complete relevant registration formalities with the AIC in respect of such change of the pledgee. 

 

	 	13.3	The amount of Secured Debts determined by the Pledgee in exercising its rights over the Pledged Equity in accordance with the provisions contained herein shall be the conclusive evidence of the amount of the Secured
Debts. 

  
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	 	13.4	This Agreement shall be executed in Chinese and in four (4) originals. Each Party shall hold one (1) original. 

  

	 	13.5	This Agreement may not be amended or modified in any manner except by an instrument in writing signed by the Parties hereto. 

  

	 	13.6	No waiver of any provision of this Agreement shall be effective unless it is made in writing and signed by the Parties. The waiver by any Party of a breach of any provision of this Agreement shall not operate or be
construed as a waiver of any preceding or succeeding breach, and no failure by any Party to exercise any right or privilege hereunder shall be deemed as a waiver by such Party of any of its rights or privileges hereunder or shall be deemed as a
waiver by such Party to exercise its rights or privileges at any time after the execution of this Agreement. 

  

	 	13.7	If any provision of this Agreement is deemed or becomes invalid, illegal or unenforceable, such provision shall be construed or deemed to be amended to conform to applicable laws so as to be valid and enforceable; or,
if it cannot be so construed or deemed to be amended without materially altering the intention of the Parties, it shall be deleted, and the remainder of this Agreement shall remain in full force and effect. 

 

	 	13.8	Upon the execution of this Agreement, each of the Pledgors shall respectively enter into a power of attorney (the “Power of Attorney”, the form of which is set forth in Appendix II hereto) to authorize
a person acceptable to the Pledgee to sign, on behalf of such Pledgor and according to this Agreement, any and all legal documents necessary for the Pledgee to exercise its rights hereunder. Such Power of Attorney shall be delivered to the Pledgee
and the Pledgee may, at any time if necessary, require the Pledgors to respectively execute multiple copies of the Power of Attorney and deliver the same to relevant government authority. 

 

	 	13.9	Each Party shall use all reasonable efforts to do and perform, or cause to be done and performed, all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments and
documents as may be necessary or desirable to give effect to the terms and intent of this Agreement and any ancillary documents. If it is required under any applicable law, regulations or listing rules or required or deemed desirable by any stock
exchange, government or other regulatory authority in connection with the initial public offering and listing of the shares in the Potential Listed Company (“IPO”) or the initial public offering and listing of the shares in any
company which adopts a variable interest entity (VIE) structure (the “IPO Requirements”), each Pledgor agrees and undertakes to (a) take all such actions (including the amendment of this Agreement, the Appendices hereto, any
authorizations, documents and notices entered into or delivered in connection with this Agreement and the execution of additional documents) to comply with or, as applicable, meet the IPO Requirements and (b) take all actions referred to in
paragraph (a) above within 3 Working Days from demand by the Pledgee. For the purpose of this Article, a “Potential Listed Company” means such other company as identified by the Pledgee or its actual controller and notified by
the Pledgee to other parties as a Potential Listed Company under this paragraph, which company beneficially owns, whether directly or indirectly, the equity interests of the Pledgee and operates its business in the PRC through the Pledgee and the
Domestic Company. 

  
 13 

	 	13.10	In respect of the Equity Pledge, if there is any discrepancy between this Agreement and any other equity pledge agreement otherwise executed by and among the Parties for the purpose of the registration with or approval
from the AIC or the tax authority or any other registration or approval, this Agreement shall prevail. 

  

	 	13.11	This Agreement may be executed in several counterparts and all counterparts so executed shall constitute one and same legal document. A Party may execute this Agreement by signing any counterpart. 

(REMAINDER OF PAGE INTENTIONALLY LEFT BLANK) 

  
 14 

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

									
		  	Pledgee:	  	 
	Rise Tianjin Education Information Consulting Co., Ltd.
(seal)
		  		  	 	[Company seal is affixed]
				
		  		  	 	By:     	 	  	   /s/ Yiding SUN

		  		  	 	Name:	 	  	Yiding SUN
		  		  	 	Title:  	 	  	Legal Representative
				
		  	Pledgor A:	  	 	Yiding SUN	 	  	   /s/ Yiding SUN

				
		  	Pledgor B:	  	 	Peng ZHANG	 	  	   /s/ Peng ZHANG

 Signature Page of the Equity Pledge Agreement (Second Restatement) 

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

					
		 	Domestic Company:	 	Beijing Step Ahead Education Technology Development Co., Ltd. (seal)

 
			
	 [Company seal is affixed]

		
	By:	 	     /s/ Yiding SUN

	Name: Yiding SUN
	Title:    Legal Representative

 Signature Page of the Equity Pledge Agreement (Second Restatement) 

 Appendix I 

Basic Information of the Domestic Company 
  

			
	Company Name:	  	Beijing Step Ahead Education Technology Development Co., Ltd.
		
	Domicile:	  	No. C01-1, 4/F, No. 42 Beiyuan Road, Chaoyang District, Beijing
		
	Registered Capital:	  	RMB 2,000,000
		
	Shareholding Structure:	  	Peng ZHANG: 80%
		  	Yiding SUN: 20%

 Appendix I 

 Appendix II 

Form of Power of Attorney 

Power of Attorney 
 I, Peng ZHANG (ID Card
No.: 230421197906063111), hereby irrevocably authorize              (ID Card No.:
                    ) as my authorized representative, to sign all legal documents necessary for Rise Tianjin Education Information Consulting Co.,
Ltd., as the pledgee, to exercise its rights under the Equity Pledge Agreement (Second Restatement) entered into by and among Yiding SUN, Beijing Step Ahead Education Technology Development Co., Ltd., Rise Tianjin Education Information Consulting
Co., Ltd. and me on             , 2017. 
  

			
	By:	 	  

		
	Date:	 	

 Appendix II 

 Power of Attorney 

I, Yiding SUN (ID Card No.:                     ), hereby
irrevocably authorize                     (ID Card No.:             ) as my authorized
representative, to sign all legal documents necessary for Rise Tianjin Education Information Consulting Co., Ltd., as the pledgee, to exercise its rights under the Equity Pledge Agreement (Second Restatement) entered into by and among Peng ZHANG,
Beijing Step Ahead Education Technology Development Co., Ltd., Rise Tianjin Education Information Consulting Co., Ltd. and me on             , 2017. 

 

			
	By:	 	  

		
	Date:	 	

 Appendix IIEX-10.11

 Exhibit 10.11 

Business Cooperation Agreement (Second Restatement) 

This Business Cooperation Agreement (Second Restatement) (this “Agreement”) is entered into by and among the following parties on
June 8, 2017: 
  

	(1)	Rise Tianjin Education Information Consulting Co., Ltd. (the “WFOE”), a wholly foreign-owned limited liability company duly established and validly existing in accordance with laws of the People’s
Republic of China (the “PRC”) with its domicile at No. B206, B212, B213, B214, B217, B221, 2/F, Building (1), No. 8 Huanhe West Road, Tianjin Free Trade Zone (Airport Economic Area); 

 

	(2)	Beijing Step Ahead Education Technology Development Co., Ltd. (the “Company”), a limited liability company duly established and validly existing in accodance with the PRC law with its domicile at No. C01-1, 4/F, No.42 Beiyuan Road, Chaoyang District, Beijing; 

  

	(3)	Yiding SUN (ID Card No.:                    ), a PRC citizen with an address at Room
103-105, Andrews Estate, No. 181 Gaobeidian Road, Chaoyang District, Beijing; and 

  

	(4)	Peng ZHANG (ID Card No.:                    ), a PRC citizen with an address at 206, Building 6, Lane 88, Huichuan
Road, Changning District, Shanghai (together with Yiding SUN, the “Shareholders”). 

 The WFOE, the Company and the
Shareholders are hereinafter collectively referred to as the “Parties” and, individually, as a “Party”. 
 Whereas:

  

	(1)	The WFOE, the Company, Zihong WANG and Peng ZHANG entered into the Business Cooperation Agreement (Restatement) on November 11, 2016 to reach relevant arranagement in respect of the business cooperation between the
WFOE and the Company; 

  

	(2)	Zihong WANG and Yiding SUN entered into the Equity Transfer Agreement (the “Equity Transfer Agreement”) on June 8, 2017, according to which Zihong WANG shall transfer 20% of the equity interests
held by him in the Company to Yiding SUN. Therefore, Zihong WANG, the WFOE, the Company and Peng ZHANG entered into the Termination Agreement on June 8, 2017, according to which Zihong WANG ceased to be a party to the Business Cooperation
Agreement (Restatement); and 

  
 1 

	(3)	In respect of the business cooperation between the WFOE and the Company, the Parties wish to further restate the Business Cooperation Agreement (Restatement) and enter into the Business Cooperation Agreement (Second
Restatement). 

 Therefore, the Parties enter into this Agreement as follows upon friendly negotiation: 

 

	1.	Business Operation 

  

	1.1	The Company hereby acknowledges and agrees that if any performance guarnatee or current fund loan security is required in the course of the business operation of the Company or its subsidiaries (including any private
school sponsored by the Company or its subsidiaries as the sponsor, same below), the Company shall first notify the WFOE in writing to seek the security to be provided by the WFOE. In such case, the WFOE has the right but not the obligation to
decide, at its own discretion, whether to provide the security for the Company or its subsidiaries. If the WFOE is not willing to provide the security for the Company or its subsidaries, or fails to reply within fifteen (15) days from the
receipt of the Company’s written notice to seek the security, the Company or its subsidiaries may seek the security from a third party. If the WFOE agrees to provide the security to the Company or its subsidiaries, the WFOE may requrie the
Company or its subsidiaries to provide relevant counter guarantee and create a pledge or mortgage over its receivables or other assets in its business operation in favor of the WFOE. 

 

	1.2	Unless the WFOE’s prior written consent has been obained, the Company shall not, and the Shareholders shall not cause or permit the Company or its subsidiaries to: 

 

	 	(a)	adopt or revise any business plan or budget; 

  

	 	(b)	conduct any business or enter into any transaction outside its normal business scope or beyond its business plan or budget; 

  

	 	(c)	establish any borrowing-lending relationship or other debtor-creditor relationship with a third party (other than the debtor-creditor relationship established in the course of daily business operation), or make any
equity investment in any third party, or open any new private school or teaching institution (other than the private schools or teaching institutions which are in the course of opening as of the date of this Agreement); 

 

	 	(d)	distribute any profits or pay other amounts to its shareholders or sponsors; 

  

	 	(e)	appoint, remove or replace any director, supervisor or senior management member; 

  
 2 

	 	(f)	approve or amend any call option plan or any arrangement related to the equity interests of the Company; 

  

	 	(g)	sell any assets or rights to any third party or purchase any assets or rights from any third party (other than the sale and purchase done in the course of daily business operation); 

 

	 	(h)	create a security or any other guarantee over its assets in favor of any third party, or create a mortgage, pledge or any other encumbrance over its assets; 

 

	 	(i)	enter into any transaction with its shareholders, directors or senior management members; 

  

	 	(j)	amend its articles of association; 

  

	 	(k)	arrange division, merger, consolidation, dissolution and liquidation; 

  

	 	(l)	change normal business operation or amend any material management rules and regulations; 

  

	 	(m)	change the auditor; or 

  

	 	(n)	conduct any other transaction or activitiy which may materially affect its assets, rights or business operation. 

  

	1.3	In respect of the teaching plan system service, the intangible asset continuing research & development and implementation supporting service, the business management system software use license, the sale of
supplementary books, the operation supporting service and other business services provided by the WFOE to the Company, the Company shall, in addition to the service fees to be paid in accordance with the service agreement (the “Service
Agreement”) entered into by the Company and the WFOE on December 1, 2014, pay operation supporting service fee in an amount equal to the balance of the total revenue after the payment has been made by the Company in accordance with the
Service Agreement and the costs, taxes and other fees required to be reserved or withdrawn in accordance with relevant laws and regulations have been deducted. Such service fee shall be paid by the Company to the WFOE within 20 days of the end of
each financial year. The WFOE may adjust the amount or the payment time of such service fee as appropriate according to the status of its provision of the service to the Company and the actual operation situation of the Company. This Article shall
come into force on January 1, 2014. 

  
 3 

	2.	Operation Management and Human Resources Arrangement 

  

	2.1	The Company and the Shareholders hereby jointly agree to accept and strictly implement the proposals made by the WFOE from time to time in respect of the employment, removal and replacement of the employees of the
Company or its subsidiaries, the daily operation management and financial management of the Company or its subsidiaries, and the business development of the Company or its subsidiaries. 

 

	2.2	The Company and the Shareholders hereby jointly agree that the Company and the Shareholders shall only appoint the persons as designated by the WFOE as the directors and supervisors of the Company or its subsidiaries
(unless otherwise agreed by the relevant parties), and shall, at the request of the WFOE, remove or replace such directors and supervisors in accordance with the procedures as prescribed by laws and regulations and the articles of association of the
Company or its subsidiaries. Meanwhile, the Company shall engage, and shall cause its subsidiaries to engage, the persons nominated by the WFOE to serve as the general manager or headmaster, financial director and other senior management members of
the Company or its subsidiaries, and shall, at the request of the WFOE, remove or replace such senior management members (unless otherwise agreed by the relevant parties). 

 

	2.3	For the purpose of this Article 2, the Company and the Shareholders shall take all necessary measures in respect of the appointment, removal and replacement of the aforesaid pesonnel. 

 

	3.	Default 

  

	3.1	If any Party breaches this Agreement, any non-defaulting Party may notify the defaulting Party in writing to require the defaulting Party to make rectification within ten
(10) days after the receipt of the notice and take proper measures to effectively and promptly prevent the non-defaulting Party from being impaired and resume the performance of this Agreement.

  

	3.2	If any breach by a Party of this Agreement makes any other Party assume any fees or liabilites or incur any losses (including but not limited to loss of profits), the defaulting Party shall indemnify the non-defaulting Party against such fees, liabilities or losses (including but not limited to the rights lost and the legal fees paid due to such default). The amount of the indemnity shall be equal to the loss
arising out of such default. The indemnity shall cover all rights which the non-defaulting Party would have be entitled to for performing this Agreement but shall not go beyond the scope as reasonably expected
by the Parties. 

  
 4 

	3.3	Notwithstanding any other provision of this Agreement, the WFOE has the right to enforce its rights under this Agreement, and other Parties acknowledge and agree that monetary compensations may be insufficient to
indemnify the WFOE against the losses incurred by the WFOE due to any other Party’s breach of its obligations hereunder. 

  

	4.	Transfer of Rights and Obligations 

  

	4.1	The Parties agree that the WFOE may transfer its rights and obligations under this Agreement to any third party by notifying the Company and the Shareholders in writing. Without the WFOE’s prior written consent,
the Company or any Shareholder shall not transfer any of its rights or obligations under this Agreement. 

  

	5.	Applicable Law and Dispute Resolution 

  

	5.1	The formation, effect, performance, amendment, interpretation and termination of this Agreement shall be governed by the PRC laws and construed in accordance with the PRC laws. 

 

	5.2	If any dispute arises from the interpretation and performance of the provisions of this Agreement among the Parties hereto, the Parties shall resolve such dispute in good faith through consultations. If the dispute
fails to be resolved, any Party may submit such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with then effective arbitration rules of the commission. The place of arbitration shall be
Beijing. The language used in the arbitration shall be Chinese. The arbitration award shall be final and binding on the Parties. 

  

	6.	Effectiveness and Term 

  

	6.1	Unless otherwise agreed in this Agreement, this Agreement shall come into force upon the proper execution by the Parties. 

  

	6.2	Unless as early terminated in accordance with this Agreement or other relevant agreements entered into by the Parties, the term of this Agreement shall be ten (10) years (the “Initial Term”) from
the effective date of this Agreement. Upon the expiry of the Initial Term or any Renewal Period, unless the WFOE issues a written termination notice thirty (30) days prior to the expiry, the term of this Agreement shall be automatically
extended for ten (10) years (each ten (10)-year period, a “Renewal Period”). Unless otherwise agreed in this Agreement, if within the Initial Term or any Renewal Period, the business term of the WFOE or the Company (including
any renewed period) expires, the relevant Party shall promptly renew its business term in order to remain the effectiveness and implementation of this Agreement. 

  
 5 

	6.3	The WFOE has the right to terminate this Agreement at any time by issuing a prior written notice to the Company and the Shareholders thirty (30) days in advance. 

 

	7.	Miscellaneous 

  

	7.1	The Parties acknowledge and confirm that any oral or written information exchanged among them with respect to this Agreement shall be confidential information. The Parties shall maintain the confidentiality of all such
information. Without the prior written consent of the Party providing such information, any Party shall not disclose any confidential information to any third party, except in the following circumstances: (a) such information is or comes into
the public domain (through no fault or disclosure by the receiving Party); (b) the information is required to be disclosed in accordance with applicable laws or rules or regulations of any stock exchange; or (c) the information regarding the
transaction contemplated hereunder has to be disclosed by any Party to its legal or financial advisors, and such legal or financial advisors are also bound by duties of confidentiality similar to the duties set forth in this Article. Any disclosure
of any confidential information made by the staff or employee of any Party shall be deemed as disclosure of such confidential information made by such Party, for which such Party shall be held liable for breach of this Agreement. This Article shall
survive the termination of this Agreement if this Agreement is terminated for any reason. 

  

	7.2	Any notice, reqeust, demand and other communication requried in this Agreement or issued in accordance with this Agreement shall be delivered in writing to relevant Party’s domicile or address as set forth in this
Agreement. If such notice or other communication is sent by facsimile or telax, it shall be deemed to be given once it is sent; if it is sent by hand, it shall be deemed to be given when it is left to the receiving Party; if it is sent by post, it
shall be deemed to be given five (5) days after the posting. 

  

	7.3	Any amendment or supplement to this Agreement shall be made in writing and the amendments and supplements to this Agreement shall become effective only upon duly signature by the Parties hereto. 

  
 6 

	7.4	Each Party shall, within its powers, sign all necessary documents and take all necessary actions to make the provisions of this Agreement effective or grant all of its rights under this Agreement to another party
(including, in respect of each of the Shareholders, the exercise of all voting rights and other shareholder’s rights which it is entitled to in respect of the Company) . 

 

	7.5	If any provision of this Agreement is held to be invalid or unenforceable, such provision shall, to the extent of its invalidity or unenforceability, become invalid and deemed to have not been included in this
Agreement, however, the validity of any other provision of this Agreement shall not be affected thereby. The Parties shall then make all reasonable efforts to replace the invalid or unenforceable provision with a valid and enforceable alternative
provision, the effect of which comes as close as possible to that of the invalid or unenforceable provision. 

  

	7.6	This Agreement shall be executed in Chinese and in four (4) counterparts. Each Party shall hold one counterpart. Each counterpart shall have equal legal validity. 

(There is no text below.) 

  
 7 

 (This page is the signature page of the Business Operation Agreement (Second Restatement)) 

This Agreement has been executed by the Parties as of the date first above written. 

Rise Tianjin Education Information Consulting Co., Ltd. (Seal) 

			
	[Company seal is affixed]
		
	By:	 	     /s/ Yiding SUN

	 Name: Yiding SUN

	 Title: Legal Representative

 Beijing Step Ahead Education Technology Development Co., Ltd. (Seal) 

			
	 [Company seal is affixed]

		
	By:	 	     /s/ Yiding SUN

	 Name: Yiding SUN

	 Title: Legal Representative

  

			
	Yiding SUN
		
	By:	 	     /s/ Yiding SUN

  

			
	Peng ZHANG
		
	By:	 	     /s/ Peng ZHANG

 Signature Page of the Business Cooperation Agreement (Second Restatement)

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