Document:

EX-10.3

 Exhibit 10.3 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
            , 20     by and between EHang Holdings Limited, an exempted company incorporated and existing under the laws of the Cayman Islands (the
“Company”) and                     , an individual with          [passport/ID number]
                     (the “Executive”). 

RECITALS 
 WHEREAS, the Company desires to
employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below) and under the terms and conditions of the Agreement; 

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

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

	1.	 EMPLOYMENT 

The Company hereby agrees to employ the Executive and the Executive hereby accepts such employment, on the terms and conditions hereinafter set
forth (the “Employment”). 
  

	2.	 TERM 

Subject to the terms and conditions of the Agreement, the initial term of the Employment shall be
         years, commencing on                    , 20     (the “Effective
Date”) and ending on                     , 20     (the “Initial Term”), unless terminated earlier
pursuant to the terms of the Agreement. Upon expiration of the Initial Term of the Employment, the Employment shall be automatically extended for successive periods of              months
each (each, an “Extension Period”) unless either party shall have given 90 days advance written notice to the other party, in the manner set forth in Section 19 below, prior to the end of the Extension Period in question, that
the term of this Agreement that is in effect at the time such written notice is given is not to be extended or further extended, as the case may be (the period during which this Agreement is effective being referred to hereafter as the
“Term”). 
  

	3.	 POSITION AND DUTIES 

 

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

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

  

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

 

	4.	 NO BREACH OF CONTRACT 

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

 

	5.	 LOCATION 

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

	6.	 COMPENSATION AND BENEFITS 

 

	 	(a)	 Cash Compensation. As compensation for the performance by the Executive of his/her obligations
hereunder, during the Term, the Company shall pay the Executive cash compensation pursuant to Schedule A hereto, subject to annual review and adjustment by the Board or any committee designated by the Board. 

 

	 	(b)	 Equity Incentives. During the Term, the Executive shall be eligible to participate, pursuant to
Schedule B hereto, in such long-term compensation arrangements as may be authorized from time to time by the Board, including any share incentive plan the Company may adopt from time to time in its sole discretion. 

  
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	 	(c)	 Benefits. During the Term, the Executive shall be entitled to participate in all of the employee benefit
plans and arrangements made available by the Company to its similarly situated executives, including, but not limited to, any retirement plan, medical insurance plan and travel/holiday policy, subject to and on a basis consistent with the terms,
conditions and overall administration of such plans and arrangements. 

  

	7.	 TERMINATION OF THE AGREEMENT 

The Employment may be terminated as follows: 
  

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

 

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

 

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

  

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

 

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

  

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

  

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

  

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

  
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	 	(d)	 Good Reason. The Executive may terminate his/her employment hereunder for “Good Reason” upon
the occurrence, without the written consent of the Executive, of an event constituting a material breach of this Agreement by the Company that has not been fully cured within ten business days after written notice thereof has been given by the
Executive to the Company setting forth in sufficient detail the conduct or activities the Executive believes constitute grounds for Good Reason, including but not limited to: the failure by the Company to pay to the Executive any portion of the
Executive’s current compensation or to pay to the Executive any portion of an installment of deferred compensation under any deferred compensation program of the Company, within twenty business days of the date such compensation is due.

  

	 	(e)	 Without Cause by the Company; Without Good Reason by the Executive. The Company may terminate the
Executive’s employment hereunder at any time without Cause upon 90-day prior written notice to the Executive. The Executive may terminate the Executive’s employment voluntarily for any reason or no
reason at any time by giving 90-day prior written notice to the Company. 

  

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

  

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

  

	 	(h)	 Compensation upon Termination. 

 

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

  

	 	(2)	 By Company without Cause or by the Executive for Good Reason. If the Executive’s employment is
terminated by the Company other than for Cause or by the Executive for Good Reason, the Company shall (i) continue to pay and otherwise provide to the Executive, during a 90-day notice period, all compensation, base salary and earned but unpaid
equity incentive compensation, if any, and shall continue to allow the Executive to participate in any benefit plans in accordance with the terms of such plans during such notice period; or (ii) if the Company elects to dismiss the Executive
without any notice period, pay and otherwise provide to the Executive all compensation, base salary and earned but unpaid equity incentive compensation, if any, to which the Executive would have been entitled had his or her employment had continued
for 90 days. In addition, the Company and the Executive may enter into a severance payment arrangement in an amount equivalent to a 90-day compensation comprising of cash compensation and equity incentive compensation. 

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

  

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

  

	 	(j)	 Requirement for a Release. Notwithstanding the foregoing, the Company’s obligations to pay or
provide any benefits shall (1) cease as of the date the Executive breaches any of the provisions of Sections 8, 9 and 11 hereof, and (2) be conditioned on the Executive signing the Company’s customary release of claims in favor of the
Group and the expiration of any revocation period provided for in such release. 

  

	8.	 CONFIDENTIALITY AND NONDISCLOSURE 

 

	 	(a)	 Confidentiality and Non-Disclosure. 

 

	 	(1)	 The Executive acknowledges and agrees that: (A) the Executive holds a position of trust and confidence
with the Company and that his/her employment by the Company will require that the Executive have access to and knowledge of valuable and sensitive information, material, and devices relating to the Company and/or its business, activities, products,
services, customers and vendors, including, but not limited to, the following, regardless of the form in which the same is accessed, maintained or stored: the identity of the Company’s actual and prospective customers and, as applicable, their
representatives; prior, current or future research or development activities of the Company; the products and services provided or offered by the Company to customers or potential customers and the manner in which such services are performed or to
be performed; the product and/or service needs of actual or prospective customers; pricing and cost information; information concerning the development, engineering, design, specifications, acquisition or disposition of products and/or services of
the Company; user base personal data, programs, software and source codes, licensing information, personnel information, advertising client information, vendor information, marketing plans and techniques, forecasts, and other trade secrets
(“Confidential Information”); and (B) the direct and indirect disclosure of any such Confidential Information would place the Company at a competitive disadvantage and would do damage, monetary or otherwise, to the
Company’s business. 

  
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	 	(2)	 During the Term and two years thereafter, the Executive shall not, directly or indirectly, whether
individually, as a director, stockholder, owner, partner, employee, consultant, principal or agent of any business, or in any other capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of the Confidential
Information without the prior express written approval of the Company, other than in the proper performance of the duties contemplated herein, unless and until such Confidential Information is or shall become general public knowledge through no
fault of the Executive. 

  

	 	(3)	 In the event that the Executive is required by law to disclose any Confidential Information, the Executive
agrees to give the Company prompt advance written notice thereof and to provide the Company with reasonable assistance in obtaining an order to protect the Confidential Information from public disclosure. 

 

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

  

	 	(b)	 Third Party Information in the Executive’s Possession. The Executive agrees that he/she shall not,
during the Term, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by
Executive, if any, or (ii) bring into the premises of Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity.
The Executive will indemnify the Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of litigation, arising out of or in connection with any violation of
the foregoing. 

  

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

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

	9.	 INTELLECTUAL PROPERTY 

 

	 	(a)	 Prior Inventions. The Executive has attached hereto, as Schedule B, a list describing all
inventions, ideas, improvements, designs and discoveries, whether or not patentable and whether or not reduced to practice, original works of authorship and trade secrets made or conceived by or belonging to the Executive (whether made solely by the
Executive or jointly with others) that (i) were developed by Executive prior to the Executive’s employment by the Company (collectively, “Prior Inventions”), (ii) relate to the Company’ actual or proposed business,
products or research and development, and (iii) are not assigned to the Company hereunder; or, if no such list is attached, the Executive represents that there are no such Prior Inventions. Except to the extent set forth in Schedule C,
the Executive hereby acknowledges that, if in the course of his/her service for the Company, the Executive incorporates into a Company product, process or machine a Prior Invention owned by the Executive or in which he/she has an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide right and license (which may be freely transferred by the Company to any other person or entity) to make, have made, modify, use, sell,
sublicense and otherwise distribute such Prior Invention as part of or in connection with such product, process or machine. 

  

	 	(b)	 Assignment of Intellectual Property. The Executive hereby assigns to the Company or its designees,
without further consideration and free and clear of any lien or encumbrance, the Executive’s entire right, title and interest (within the United States and all foreign jurisdictions) to any and all inventions, discoveries, improvements,
developments, works of authorship, concepts, ideas, plans, specifications, software, formulas, databases, designees, processes and contributions to Confidential Information created, conceived, developed or reduced to practice by the Executive (alone
or with others) during the Term which (i) are related to the Company’s current or anticipated business, activities, products, or services, (ii) result from any work performed by Executive for the Company, or (iii) are created,
conceived, developed or reduced to practice with the use of Company property, including any and all Intellectual Property Rights (as defined below) therein (“Work Product”). Any Work Product which falls within the definition of
“work made for hire”, as such term is defined in the U.S. Copyright Act, shall be considered a “work made for hire”, the copyright in which vests initially and exclusively in the Company. The Executive waives any rights to be
attributed as the author of any Work Product and any “droit morale” (moral rights) in Work Product. The Executive agrees to immediately disclose to the Company all Work Product. For purposes of this Agreement, “Intellectual
Property” shall mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary rights protection legally available. 

  
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	 	(c)	 Patent and Copyright Registration. The Executive agrees to execute and deliver any instruments or
documents and to do all other things reasonably requested by the Company in order to more fully vest the Company with all ownership rights in the Work Product. If any Work Product is deemed by the Company to be patentable or otherwise registrable,
the Executive shall assist the Company (at the Company’s expense) in obtaining letters of patent or other applicable registration therein and shall execute all documents and do all things, including testifying (at the Company’s expense) as
necessary or appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property right relating to any Work Product. Should the Company be unable to secure the Executive’s signature on any document deemed necessary to accomplish
the foregoing, whether due to the Executive’s disability or other reason, the Executive hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as the Executive’s agent and attorney-in-fact to act for and on the Executive’s behalf and stead to take any of the actions required of Executive under the previous sentence, with the same effect as
if executed and delivered by the Executive, such appointment being coupled with an interest. 

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

 

	10.	 CONFLICTING EMPLOYMENT. 

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

	11.	 NON-COMPETITION AND
NON-SOLICITATION 

  

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

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

	 	(b)	 Non-Solicitation;
Non-Interference. During the Term and for a period of one year following the termination of the Executive’s employment for any reason, the Executive agrees that he/she will not, directly or
indirectly, for the Executive’s benefit or for the benefit of any other person or entity, do any of the following: 

  

	 	(1)	 approach the suppliers, clients, direct or end customers or contacts or other persons or entities introduced to
the Executive in his/her capacity as a representative of the Group for the purpose of doing business of the same or of a similar nature to the Business or doing business that will harm the business relationships of the Group with the foregoing
persons or entities; 

  

	 	(2)	 assume employment with or provide services to any competitors of the Group, or engage, whether as principal,
partner, licensor or otherwise, any of the Group’s competitors, without the Group’s express consent; or 

  

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

  

	 	(4)	 otherwise interfere with the business or accounts of the Group. 

 

	 	(c)	 Injunctive Relief; Indemnity of Company. The Executive agrees that any breach or threatened breach of
subsections (a) and (b) of this Section 11 would result in irreparable injury and damage to the Company for which an award of money to the Company would not be an adequate remedy. The Executive therefore also agrees that in the event of
said breach or any reasonable threat of breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons
and/or entities acting for and/or with the Executive. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, remedies available
under this Agreement and the recovery of damages. The Executive and the Company further agree that the provisions of this Section 11 are reasonable. The Executive agrees to indemnify and hold harmless the Company from and against all reasonable
expenses (including reasonable fees and disbursements of counsel) which may be incurred by the Company in connection with, or arising out of, any violation of this Agreement by the Executive. This Section 11 shall survive the termination of the
Agreement for any reason. 

  

	12.	 WITHHOLDING TAXES 

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any
amounts otherwise due or payable under or pursuant to the Agreement such national, state, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

  
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	13.	 ASSIGNMENT 

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

	14.	 SEVERABILITY 

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

	15.	 ENTIRE AGREEMENT 

The Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment
and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that he/she has not entered into the Agreement in reliance upon any representation, warranty or undertaking which is
not set forth in the Agreement. 
  

	16.	 GOVERNING LAW 

The Agreement shall be governed by and construed in accordance with the laws of Hong Kong. 

 

	17.	 AMENDMENT 

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

	18.	 WAIVER 

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under the Agreement shall operate as
a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or
privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have
granted such waiver. 
  

	19.	 NOTICES 

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

 

	20.	 COUNTERPARTS 

The Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. The Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 
  

	21.	 NO INTERPRETATION AGAINST DRAFTER 

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

[Remainder of the page intentionally left blank] 

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

							
		  	EHang Holdings Limited
		
	COMPANY	  	 a Cayman Islands exempted company

				
		  	    	  	By:	  	  

		  		  	Name:	  	
		  		  	Title	  	
			
	EXECUTIVE:	  		  	  

				
		  		  	Name:	  	

  
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 SCHEDULE A 

Cash Compensation 

  
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 SCHEDULE B 

Equity Incentives 

  
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 SCHEDULE C 

Prior Inventions 

  
 15EX-10.4

 Exhibit 10.4 

Shareholders Voting Proxy Agreement 
 This
Shareholders Voting Proxy Agreement (the “Agreement”) is executed by and among the following Parties as of January 29, 2016 in Guangzhou, the People’s Republic of China (“China” or the “PRC”): 

(1)    Huazhi Hu and Yifang Xiong (“Entrusting Party” or “Party A”); 

(2)    EHang Intelligent Equipment (Guangzhou) Co., Ltd. with the address: Room 903 (Chuangtuobangzhong Space)-A2(only for office use), Building C1, Innovation Building, No. 182 Kexue Boulevard, Guangzhou Hi-tech Industry Development Zone, Guangzhou, PRC (the
“WFOE” or “Party B”); 
 (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, above Party A, Party B and Party C shall be collectively referred to as a “Party” respectively, and they shall be collectively
referred to as the “Parties”). 
 Whereas: 
  

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

  

	2.	 The Entrusting Party is willing to unconditionally 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 Entrusting Party. 

Therefore, the Parties hereby agree as follows: 
  

	1.	 PROXY OF VOTING RIGHTS 

 

	1.1	 Entrusting Party hereby irrevocably covenants that, he/she shall execute the Power of Attorney
(“POA”) set forth in Exhibit upon signing this Agreement and entrust Party B or Party B’s designee (“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 to: 

  

	 	a)	 attend shareholders’ meetings of Target Company as the agent and attorney of Entrusting Party;

  

	 	b)	 exercise all shareholder’s voting rights and voting rights pursuant to applicable laws and articles of
association of the Target Company, including but not limited to sell, transfer, pledge or dispose of all or any part of equity interest of the company; 

  

	 	c)	 designate and appoint the legal representative (Chairperson), director, supervisor, general manager and other
senior management members of Party C as the agent and attorney of Entrusting Party and represent Entrusting Party to vote the matters to be discussed or resolved in shareholders meeting, including without limitation, the designation and election of
director, general manager and other senior manager who shall be appointed or removed by the shareholders; and 

  

	 	d)	 exercise other voting rights the shareholders are entitled to under the laws of China promulgated from time to
time. 

 Party B hereby agrees to accept such proxy as set forth in Section 1.1. Upon receipt of
the written notice of change of Designee from Party B, the Entrusting Party shall immediately entrust such person to exercise the rights set forth in Clause 1.1. Except the aforesaid situation, the proxy shall be irrevocable and continuously valid.

  

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

  

	1.3	 The Parties hereby confirm that, Designee is entitled to exercise all proxy rights without the consent of
Entrusting Party. 

  

	2.	 RIGHTS TO INFORMATION 

 

	2.1	 For the purpose of this Agreement, the Designee is entitled to request relevant information of Party C and
inspect 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 once the proxy matter happens.

  

	3.	 PERFORMANCE OF PROXY RIGHTS 

 

	3.1	 The Entrusting Party shall provide appropriate assistance to the Designee for the performance of proxy rights
provided in this Agreement, including signing and executing the shareholders’ resolution and other relevant legal documents (if applicable) which have been confirmed by the Designee. 

 

	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. 

  

	4.	 REPRESENTATIONS AND WARRANTIES 

 

	4.1	 The Entrusting Party hereby represents and warrants to Party B as follows: 

 

	4.1.1	 The Entrusting Party has full power and legal right to enter into this Agreement and perform his or her
obligations under this Agreement and in executing the POA; This Agreement and the POA constitute legal, valid, binding and enforceable obligation of each Entrusting Party. 

 

	4.1.2	 Each Entrusting Party has necessary authorization for the execution and delivery of 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 Entrusting Party is the 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 between Party B, Party C and the Entrusting
Party. According 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 company legally registered and validly existing in accordance with the laws of China 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 authorization and the consent and
approval 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 Entrusting Party is the 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 between Party B, Party C and the Entrusting
Party. According 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. 

 

	5.	 TERM OF THIS AGREEMENT 

 

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

  

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

  

	6.	 NOTICES 

  

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

  

	6.2	 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 facsimile, the time of receipt is the time when such notice is transmitted. If the notice does not reach the addressee by the end of the business day, the following business day shall be the date of
receipt. 

  

	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. 

	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; 

  

	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 affect 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, termination and dispute resolution shall
be governed by the law 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, either Party may submit the relevant dispute to Guangzhou Arbitration Committee for arbitration, in accordance with its arbitration rules. 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.

  

	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 its rights and obligations under
this Agreement to any third party. Entrusting Party and Party C agrees that Party B may assign its obligations and rights under this Agreement to any third party upon a prior written notice to Entrusting Party and Party C. 

 

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

[Signature Page Follows] 

 [Signature Page] 

Entrusting Party: 
 Huazhi Hu (signature): /s/ Huazhi Hu 

Yifang Xiong (signature): /s/ Yifang Xiong 
 Party B: EHang
Intelligent Equipment (Guangzhou) Co., Ltd. 
 Authorized Representative (signature): /s/ Huazhi Hu 

/s/ Seal of EHang Intelligent Equipment (Guangzhou) Co., Ltd. 

Party C: Guangzhou EHang Intelligent Technology Co., Ltd. 

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

 POWER OF ATTORNEY 

Huazhi Hu and Yifang Xiong, holders of 100% equity interest (the “Company’s Shares”) of Guangzhou EHang Intelligent Technology Co., Ltd. (the
“Target Company”). As to the voting rights of the Target Company, such holders hereby irrevocably authorize EHang Intelligent Equipment (Guangzhou) Co., Ltd. (the “WFOE”) to exercise the following rights related to the
Company’s Shares within the term of this Power of Attorney: 
 The WFOE is hereby authorized to act on behalf of the Target Company as the exclusive
agent and attorney of the Target Company 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 right the Company is 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 Company’s Shares in part or
in whole; and 3) designating and appointing on behalf of the Company itself the legal representative (chairman), director, supervisor, general manager and other senior management members of the Target Company. 

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

During the term of this Power of Attorney, we hereby waive all the rights associated with the Company’s Shares, which have been entrusted to WFOE through
this Power of Attorney, and shall not exercise such rights by the Target Company. 
 Huazhi Hu (signature): /s/ Huazhi Hu 

Yifang Xiong (signature): /s/ Yifang Xiong 

January 29, 2016

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