Document:

EX-10.5

 Exhibit 10.5 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of _____________, 2020 by and between 17 Education &
Technology Group Inc., an exempted company incorporated and existing under the laws of the Cayman Islands (the “Company”) and _____________, an individual (Passport/ID Card No. _____________) (the “Executive”). 

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

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

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

	1.	 EMPLOYMENT 

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

	2.	 TERM 

Subject to the terms and conditions of the Agreement, the initial term of the Employment shall be _____ years, commencing on _____________,
2020 (the “Effective Date”) and ending on _____________, _____ (the “Initial Term”), unless terminated earlier pursuant to the terms of the Agreement. Upon expiration of the Initial Term of the Employment, the
Employment shall be automatically extended for successive periods of _____ months each (each, an “Extension Period”) unless either party shall have given 60 days advance written notice to the other party, in the manner set forth in
Section 19 below, prior to the end of the Initial Term or the Extension Period in question, as applicable, that the term of this Agreement that is in effect at the time such written notice is given is not to be extended or further extended, as
the case may be (the period during which this Agreement is effective being referred to hereafter as the “Term”). 
  

	3.	 POSITION AND DUTIES 

 

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

	 	(b)	 The Executive agrees to serve without additional compensation, if elected or appointed thereto, as a director
of the Company or any subsidiaries or affiliated 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 (inclusive of the statutory benefit contributions that the Company is required to set aside for the Executive under applicable law) pursuant to Schedule A
hereto, subject to annual review and adjustment by the Board or any committee designated by the Board. 

  
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	 	(b)	 Equity Incentives. During the Term, the Executive shall be eligible to participate, at a level
comparable to similarly situated executives of the Company, in such long-term compensation arrangements as may be authorized from time to time by the Board, including any share incentive plan the Company may adopt from time to time in its sole
discretion. 

  

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

  

	7.	 TERMINATION OF THE AGREEMENT 

The Employment may be terminated as follows: 
  

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

 

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

 

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

  

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

 

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

  

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

  
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	 	(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. 

 

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

 

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

 

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

 

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

  

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

  

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

  

	 	(h)	 Compensation upon Termination. 

 

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

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

  

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

  

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

  

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

  

	8.	 CONFIDENTIALITY AND NONDISCLOSURE 

 

	 	(a)	 Confidentiality and Non-Disclosure. 

  
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	 	(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,vendors, students, teachers and users, 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,
users, students 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 actual or potential customers, users and students
and the manner in which such services are performed or to be performed; the product and/or service needs of actual or prospective customers, users, students and teachers; pricing and cost information; information concerning the development,
engineering, design, specifications, acquisition or disposition of products and/or services of the Company; user, student and teacher acquisition channel and partner information; customer, user, student and teacher base personal data; programs,
software and source codes; licensing information; personnel information; vendor and business partner information; promotion and marketing channel and business partner 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. 

  

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

  

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

 

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

  
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	 	(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. 

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

	9.	 INTELLECTUAL PROPERTY  

 

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

  
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	 	(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. 

  

	 	(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. 

  
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	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
one percent (1%) of any class of the capital stock of a publicly traded corporation in Competition with the Group, provided that the Executive does not otherwise participate in the business of such corporation. 

For purposes of this Agreement, “Business” means the business of after-school tutoring and education technology products and
servicess and provision of related services and any other business which the Group engages in, or is preparing to become engaged in, during the Term. 
  

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

  

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

  

	 	(2)	 solicit from any known potential customer or business partner of the Group business of the same or of a similar
nature to that which has been the subject of a known written or oral bid, offer or proposal by the Group, or of substantial preparation with a view to making such a bid, proposal or offer; 

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

  

	 	(4)	 otherwise interfere with the business or accounts of the Group, including, but not limited to, with respect to
any relationship or agreement between the Group and any customer, user, student, teacher, vendor, supplier, agent, licensee, licensor or business partner. 

  

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

  

	12.	 WITHHOLDING TAXES 

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

 

	13.	 ASSIGNMENT 

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

  
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	14.	 SEVERABILITY 

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

	15.	 ENTIRE AGREEMENT 

The Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment by
the Company under the laws of the Cayman Islands 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. To the maximum permitted by the governing law, any agreements 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 shall remain effective and operative pursuant to the terms thereof. 
  

	16.	 GOVERNING LAW 

The Agreement shall be governed by and construed in accordance with the laws of the Cayman Islands. 

 

	17.	 AMENDMENT 

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

  
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	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. 
  

									
	COMPANY:	 		 	                    	 	17 EDUCATION & TECHNOLOGY GROUP INC.
		 		 		 	a Cayman Islands exempted company
					
		 		 		 	By:	 	                                      
                                         
                            
		 		 		 	Name:
		 		 		 	Title:
	EXECUTIVE:	 		 		 		 	
				
		 		 		 	  

		 		 		 	Name:
		 		 		 	Address:

  

  
 [Signature Page to
Officer Employment Agreement] 

 Schedule A 

Cash Compensation 
  

									
	 	  	Amount	 	  	Pay Period	 
	 Base Salary
	  				  			
	 Cash Bonus
	  				  			

 Schedule B 

List of Prior Inventions 
  

					
	 Title
	 	 Date
	 	 Identifying Number

or Brief Description

  

	
	  

______ No inventions or improvements
  

______ Additional Sheets Attached
  

Signature of Executive: ________________
  

Print Name of Executive: _______________
  

Date: ____________EX-10.6

 Exhibit 10.6 

Proxy Agreement and Power of Attorney 

Proxy Agreement and Power of Attorney 

This Proxy Agreement and Power of Attorney (the “Agreement”) is entered into on September 8, 2020 by and among the
following parties as the amendment and restatement of the Proxy Agreement and Power of Attorney entered into on May 13, 2020 by and among Shanghai Yiqi Zuoye Information Technology Co., Ltd., Shanghai Hexu Information Technology Co., Ltd.,
Chang Liu and Dun Xiao: 
  

	(1)	 Shanghai Yiqi Zuoye Information Technology Co., Ltd. (“WFOE”), a wholly foreign owned
enterprise incorporated subject to the laws of the People’s Republic of China (“PRC”); 

  

	(2)	 Shanghai Hexu Information Technology Co., Ltd. (“Company”), a limited liability company
incorporated subject to the PRC laws; 

  

	(3)	 Chang Liu, a PRC citizen (PRC ID Card No.: [***]); and 

 

	(4)	 Zhan Xie, a PRC citizen (PRC ID Card No.: [***]) (together with Chang Liu, collectively as the
“Existing Shareholders”). 

 Each of the above WFOE, the Company, and the Existing shareholders,
hereinafter individually referred to as a “Party”, and collectively the “Parties”. 
 Recitals 

 

	(A)	 WHEREAS, the Existing Shareholders totally hold 100% equity of the Company. 

 

	(B)	 WHEREAS, an Exclusive Management Services and Business Cooperation Agreement was entered into by and among the
WFOE, the Company and other relevant parties on 13 May 2020 (the “Exclusive Management Services and Business Cooperation Agreement”) under which the Company shall pay service costs to the WFOE regarding certain services to be
provided by the WFOE. 

  

	(C)	 WHEREAS, an Equity Interest Pledge Agreement was entered into by and among the WFOE, the Company and the
Existing Shareholders on 8 September 2020 (the “Equity Interest Pledge Agreement”). 

  

	(D)	 WHEREAS, an Exclusive Call Option Agreement was entered into by and among the WFOE, the Company and the
Existing Shareholders on 8 September 2020 (the “Exclusive Call Option Agreement”). 

 The parties intend
to agree regarding the exercise of shareholders’ rights by the WFOE by proxy and on behalf of the Existing Shareholders for the purpose of ensuring the WFOE’s lawful rights under the Exclusive Management Services and Business Cooperation
Agreement and the Exclusive Call Option Agreement. AND THEREFORE, the Parties agree as below: 
 Agreement 

Section 1 
 The Existing Shareholders hereby
irrevocably authorize the WFOE (the “Agent”, including any substitute agent hereunder) to exercise any and all rights under the applicable laws and regulations and the articles of association of the Company regarding the equity of
the Company held by the Existing Shareholders, including but not limited to the following rights (collectively, the “Existing Shareholders’ Rights”): 

 Proxy Agreement and Power of Attorney 

 

	 	(a)	 to convene and attend at the shareholders’ meetings of the Company; 

 

	 	(b)	 to execute and deliver any written resolutions in the name and on behalf of the Existing Shareholders;

  

	 	(c)	 to vote, personally or by sending a representative(s), regarding any matters discussed by the
shareholders’ meetings, including but not limited to, sales, transfer, mortgage, pledge, hypothecation or otherwise disposal of any or all of the assets of the Company; 

 

	 	(d)	 to sell, transfer, pledge, hypothecate or otherwise dispose any or all of the equity in the Company;

  

	 	(e)	 if necessary, to nominate, appoint or remove from office any of the director(s) or supervisor(s) of the
Company; 

  

	 	(f)	 to supervise the operating performance of the Company; 

 

	 	(g)	 to lawfully consult the resolutions and records of the shareholders’ meetings and the BOD meetings, and
financial accounting statements and financial information of the Company from time to time; 

  

	 	(h)	 when any interest of the Company or the Existing Shareholders is harmed by any acts or omissions of any
directors or senior executives of the Company, to institute a lawsuit of the Existing Shareholders or take any other legal action against such directors or senior executives. 

 

	 	(i)	 to approve the annual budget or declare dividends, and to exercise the rights to dividends, the rights to
obtain remaining property after the liquidation of the Company, and other rights to, in or of operations of the Company, owned by the Existing Shareholders under the laws and regulations and the articles of association of the Company.

  

	 	(j)	 Upon any liquidation or dissolution of the Company, to compose the liquidation group subject to the provisions
of laws and the articles of association of the Company and legally exercise the powers owned by the liquidation group during the liquidation period, including but not limited to administrating assets of the Company; 

 

	 	(k)	 to submit any documents on behalf that are needed to be submitted by the Existing Shareholders to the competent
governmental authorities; and 

  

	 	(l)	 Any other rights or powers conferred to the Existing Shareholders under the articles of association of the
Company or applicable laws and regulations. 

 The Existing Shareholders agree that the WFOE shall have the right of re-authorization, to delegate the handling of the matters under Section 1 above to any other party. The Existing Shareholders further agree and undertake that without the WFOE’s prior written consent, the
Existing Shareholders shall not exercise any of the Existing Shareholders’ rights. 
 Section 2 

 Proxy Agreement and Power of Attorney 

 

 The WFOE agrees to accept the aforesaid delegation and to be the Agent. The WFOE shall fully have the right
to decide, at its sole discretion, to appoint one or more substitute agent to exercise any or all of its rights hereunder. The WFOE also have the right to decide, at its sole discretion, to withdraw the appointment of such substitute agents. No
prior notification to, or consent or instruction from, the Company or the Existing Shareholders is required regarding the WFOE’s appointment or withdrawal above. 

Section 3 
 The Company and the Existing Shareholders
confirm, acknowledge and agree the Agent to exercise any or all of the Existing Shareholders’ rights on behalf of the Existing Shareholders. The Company and the Existing Shareholders further confirm and acknowledge that any acts or decisions
already or to be committed or made, and any instruments or documents already or to be executed, by the Agent will be deemed to be the acts or decisions committed or made by the Existing Shareholders themselves and the instruments or documents
executed by the Existing Shareholders themselves, being of equal legal force. 
 Section 4 

 

	(a)	 The Existing Shareholders hereby agree that in case any of the Existing Shareholders has any increased equity
in the Company, whether or not such increase is caused by increasing contributions, any of such increased equity of the Existing Shareholders shall be bound by this Agreement and the Agent shall have the right to exercise the Existing
Shareholders’ Rights under Section 1 above on behalf of the Existing Shareholders; and similarly, in case any person obtain any equity of the Company, whether or not by voluntary transfer, or transfer by operation of law, by involuntary
auction or by any other method, such equity obtained by such assignee shall also be bound by this Agreement and the Agent shall have the right to continuously exercise the Existing Shareholders’ Rights under Section 1 above.

  

	(b)	 The Existing Shareholders will provide sufficient assistance regarding the exercise by the Agent of the
Existing Shareholders’ Rights, including, if necessary (for example, to satisfy the requirements of governmental authorities for examination, submission and filing documents, or requirements under the laws or regulations, normative documents,
the articles of association of the Company or other decrees or orders of governmental authorities), timely execution of certain legal documents including but not limited to the resolutions of the shareholders’ meetings of the Company made by
the Agent, or the powers of attorney with specific authorization scope (if required by the applicable laws and regulations or articles of association or other normative documents). The Existing Shareholders irrevocably agree that upon proposition by
the Agent of any written request for exercise of any Existing Shareholders’ Rights, the Existing Shareholders shall, after receipt of such written requirement and subject to the provisions of such requirements, take action within the timeframe
provided by such written requirements, to satisfy the Agent’s requirements for its exercise of the Existing Shareholders’ Rights. 

  

	(c)	 To avoid doubt, in case any of the Existing Shareholders need to transfer any equity to the WFOE or any of its
affiliates pursuant to any Exclusive Call Option Agreement or Equity Interest Pledge Agreement (including any subsequently amended agreements) to which such Existing Shareholder is a party and under which the WFOE or any person nominated by the WFOE
is the beneficiary, the Agent shall have the right to execute the equity transfer agreements and other related agreements, and perform all of the obligations under the Exclusive Call Option Agreement and the Equity Interest Pledge Agreement, on
behalf of the Existing Shareholders. The Existing Shareholders shall sign any documents and affix the public seals and/or chops, and take any other necessary contractual action, as requested by the WFOE, so as to complete the aforesaid equity
transfer. The Existing Shareholders shall ensure the completion of such equity transfer and procure the execution of an agreement of contents substantially similar to this Agreement between any assignees and the WFOE. 

 Proxy Agreement and Power of Attorney 

 

 Section 5 

The Existing Shareholders further agree and undertake to the WFOE that if the Existing Shareholders receive, due to the equity of the Company they hold, any
dividends, interests, capital allocations in any form, remaining assets after liquidation, or revenue or consideration arising out of equity transfer, the Existing Shareholders shall, to the extent permitted by law, gift to the WFOE free of charge
or compensation all of such dividends, interests, capital allocations, remaining assets after liquidation, revenue and consideration. 
 Section 6 

The Existing Shareholders hereby authorize the Agent to exercise, at its sole discretion, the Existing Shareholders’ Rights, without obtaining any oral or
written instructions from the Existing Shareholders. The Existing Shareholders undertake to approve and recognize any lawful acts committed by, or committed by the Existing Shareholders as procured by, and subject to this Agreement, the Agent or any
substitute agents it appoints. 
 Section 7 
 Each of the
Parties warrants and represents to the other Parties as below: 
  

	(a)	 He, she or it is a PRC citizen and legal person entity incorporated subject to PRC laws, and has the capacity
for rights and conducts regarding execution, delivery and performance of this Agreement, and may independently act as a litigation party. 

  

	(b)	 If it is a legal person, it has passed all necessary internal procedures for execution, delivery and
performance of this Agreement and has obtained all necessary internal and external authorizations and approvals. 

  

	(c)	 This Agreement, upon being signed, shall or will constitute lawful, valid and binding obligations and may be
enforced pursuant to its terms. 

  

	(d)	 Its execution or delivery of this Agreement or performance of its obligations hereunder will not:
(i) result in breach of any applicable PRC laws, regulations, judgments, awards, governmental authorizations, approvals or any other governmental orders, (ii) be in conflict with the Company’s memorandum of association or articles of
association or other organizational documents (if it is a legal person), or (iii) result in breach of, or constitute a default under, any contracts or documents it enters into or which have binding force upon it. 

The Existing Shareholders and the Company further undertake that the Existing Shareholders are the legal shareholders of the Company as per the industrial and
commercial registration and recorded in the shareholders’ register. There are no any third party rights upon or in the Existing Shareholders’ Rights except those set forth in this Agreement, the Equity Interest Pledge Agreement and the
Exclusive Call Option Agreement. Pursuant to this Agreement, the Agent may fully and sufficiently exercise the Existing Shareholders’ Rights under the then currently effective articles of association of the Company. 

Section 8 
 In the event that any party fails to perform any
of its obligations hereunder or that any of its representations or warranties hereunder is essentially inaccurate or incorrect, such party shall be in default of this Agreement and shall compensate all losses suffered by the other parties due to its
breach of this Agreement. This Section shall survive the amendment, cancellation or termination of this Agreement. 

 Proxy Agreement and Power of Attorney 

 

 Section 9 

This Agreement shall enter into force on the execution date set forth herein after being officially signed by the authorized representatives of the Parties
hereto and shall be continuously effectively during the existence of the Company, as the amendment and restatement of the Proxy Agreement and Power of Attorney entered into on May 13, 2020 by and among Shanghai Yiqi Zuoye Information Technology
Co., Ltd., Shanghai Hexu Information Technology Co., Ltd., Chang Liu and Dun Xiao, and the Parties agree and confirm that the force of this Agreement shall be retroactive to September 8, 2020. Without the WFOE’s prior written consent, the
Parties shall have no right to make any amendments to this Agreement, to transfer to any third party of its rights or obligations hereunder, or to terminate this Agreement or withdraw the appointment of the Agent. Notwithstanding the foregoing
provisions, the WFOE may unilaterally terminate this Agreement at its sole discretion and unconditionally by notifying the Existing Shareholders and the Company in writing ten (10) days in advance from time to time, without separately obtaining
consent from the other Parties regarding such transfer and without assumption of any liability. 
 This Agreement shall be legally binding upon each
Party’s assignees and successors whether or not the transfer of such rights or obligations is caused by acquisition, reorganization, succession, transfer, assignment or any other reason. 

In the event that any of the Existing Shareholders discontinues to own any equity of the Company, it shall be deemed that such Existing Shareholder shall
discontinue to be a party to this Agreement. In the event that any third party becomes a shareholder to this Company, the Company and all then currently existing shareholders shall try their best efforts to procure such third party to execute
appropriate legal documents to become one of the Existing Shareholders hereunder as soon as possible, and shall procure that it will execute a power of attorney of contents consistent with this Agreement. 

Section 10 
 The Parties hereby acknowledge that any and all
oral or written communications regarding this Agreement shall be confidential information. Each Party shall keep confidential all of the aforesaid information, and without written consent from the other Parties, shall not disclose to any third party
any related information except the information that: (a) has entered or will enter the public domain for any reason except as being publicly disclosed by the receiving party, (b) is disclosed subject to the applicable laws or regulations
or stock exchange requirements, or (c) that has to be disclosed by any Party to its legal counsels or financial consultants with respect to the transactions contemplated hereunder who must be bound by the obligations of confidentiality similar
to those under this paragraph. In case any employee or agency employed by any Party discloses any confidential information, it shall be deemed that such Party discloses such confidential information and shall bear the breach of contract liability
accordingly. The provisions under this paragraph shall survive the termination of this Agreement for any reason. 
 Section 11 

Any notices or other communications hereunder issued by any Party shall be made in English or Chinese and may be sent by personal delivery, registered mail
with prepaid postage or recognized express mail service or by facsimile to the recipient addresses specified by the relevant Parties from time to time. It shall be deemed that the notice has been actually delivered (a) if by personal delivery,
on the date of personal delivery, (b) if by mail, on the tenth day after the registered air mail with prepaid postage is posted (subject to the postmark date), or on the fourth day after delivered to the express mail service, or (c) if by
facsimile, at the receiving time indicated on the transmission confirmation slip of the corresponding documents. 

 Proxy Agreement and Power of Attorney 

 

 The addresses of the Parties are listed below for the purpose of notification: 

To the WFOE: 
 Address:
[***] 
 Recipient: Chang Liu 

Telephone: [***] 
 To the
Existing Shareholders: 
 Address: [***] 

Recipient: Chang Liu 
 Telephone:
[***] 
 To the Company: 

Address: [***] 
 Recipient: Chang
Liu 
 Telephone: [***] 
 Any Party may send a
notice to the other Parties pursuant to this Section to change its recipient address of notification from time to time. 
 Section 12 

This Agreement shall constitute the entire agreement regarding the subject matters herein entered into by and among the Parties hereto, and shall supersede all
oral agreements, contracts, understandings and communications previously entered into by and among the Parties regarding the subject matters herein, including but not limited to the Proxy Agreement and Power of Attorney entered into on May 13,
2020 by and among Shanghai Yiqi Zuoye Information Technology Co., Ltd., Shanghai Hexu Information Technology Co., Ltd., Chang Liu and Dun Xiao which shall terminate on September 8, 2020 and be superseded by this Agreement. 

Section 13 
 The execution, validity, interpretation,
performance, amendment and termination of this Agreement and the settlement of any dispute hereunder shall be governed by PRC laws. 
 Section 14 

Any disputes arising out of or in connection with this Agreement shall be submitted to China International Economic and Trade Arbitration Commission to be
arbitrated in accordance with its arbitration rules effective upon application for arbitration. The arbitration award shall be final and binding upon all Parties. The place of arbitration shall be Beijing. Except for the portions submitted for
arbitration, the other portions of this Agreement shall continue to be valid. The validity of this Section shall not be affected whether this Agreement is amended, cancelled or terminated. 

Section 15 
 In case any provision hereunder is deemed to be
invalid or unenforceable due to inconsistency with any applicable laws, such provision shall be invalid or unenforceable to the extent such law is applicable, and the validity, legality or enforceability of the other provisions hereunder shall not
be affected. The Parties shall, through good faith negotiations, try to replace such invalid, illegal or unenforceable provisions with an effective provision that is legally permitted and satisfies the Parties’ expectation to greatest extent,
and the economic results caused by such effective provisions shall be similar to the economic results caused by such invalid, illegal or unenforceable provision as far as possible. 

 Proxy Agreement and Power of Attorney 

 

 Section 16 

Any Party may waive the terms or conditions of this Agreement provided that such waiver is made in writing and has been signed by the Parties. The waiver by
any Party regarding the other Parties’ default under certain circumstance shall not be deemed to be a waiver of similar defaults under other circumstances. 

Section 17 
 This Agreement is made by the Parties in four
(4) originals of equal legal force, one (1) for each Party. This Agreement may be signed through one or more counterparts. 
 Section 18 

In case the U.S. Securities and Exchange Commission or other regulatory agencies propose any amendment comments toward this Agreement, or in case there is any
change to the listing rules or related requirements of the U.S. Securities and Exchange Commission related to this Agreement, the Parties shall amend this Agreement accordingly. 

[The following is the signature page(s)] 

 Proxy Agreement and Power of Attorney 

 

 In witness thereof, the Parties cause this Agreement to be signed on the date first written above. 

Shanghai Yiqi Zuoye Information Technology Co., Ltd. 

Seal: (Public Seal) /s/ Shanghai Yiqi Zuoye Information Technology Co., Ltd. 
  

			
	By:	 	 /s/ Chang Liu

			
	Authorized Representative: Chang Liu

 Shanghai Hexu Information Technology Co., Ltd. 

Seal: (Public Seal) /s/ Shanghai Hexu Information Technology Co., Ltd. 
  

			
	By:	 	 /s/ Chang Liu

			
	Authorized Representative: Chang Liu

 Chang Liu 
  

			
	By:	 	 /s/ Chang Liu

Zhan Xie 
  

			
	By:	 	 /s/ Zhan Xie

 Proxy Agreement and Power of Attorney 

 

 Power of Attorney 

I, Chang Liu, a citizen of the People’s Republic of China (“PRC”) with the ID Card number being [***], holding 99%
of all the registered capital of Shanghai Hexu Information Technology Co., Ltd. (the “Company”) (“My Equity”) which corresponds RMB 29,700,000 of the registered capital of the Company, hereby irrevocably
authorize Shanghai Yiqi Zuoye Information Technology Co., Ltd. (the “WFOE”) to exercise the following rights and powers regarding My Equity during the effective term of this Power of Attorney: 

The WFOE or any person(s) nominated by the WFOE (the “Agent”) is hereby authorized as my sole agent and attorney-in-fact to act on behalf of me at his, her or its own will regarding all matters in connection with My Equity, including but not limited to (1) to propose
convention of shareholders’ meetings pursuant to the articles of association of the Company, and to execute and deliver any written resolutions in the name and on behalf of me; (2) to vote, personally or by sending a representative(s),
regarding any matters discussed by the shareholders’ meetings, including but not limited to, sales, transfer, mortgage pledge, hypothecation or otherwise disposal of any or all of the assets of the Company; (3) to sell, transfer, pledge,
hypothecate or otherwise dispose any or all of the equity in the Company; (4) if necessary, to nominate, appoint or remove from office any of the director(s) or supervisor(s) of the Company; (5) to supervise the operating performance of
the Company; (6) to lawfully consult the resolutions and records of the shareholders’ meetings and the BOD meetings, and financial accounting statements and financial information of the Company from time to time; (7) when any interest
of the Company or its shareholders is harmed by any acts or omissions of any directors or senior executives of the Company, to institute a lawsuit of the Existing Shareholders or take any other legal action against such directors or senior
executives; (8) to approve the annual budget or declare dividends, and to exercise the rights to dividends, the rights to obtain remaining property after the liquidation of the Company, and other rights to, in or of operations of the Company,
owned by me as one of the shareholders of the Company under the laws and regulations and the articles of association of the Company; (9) upon any liquidation or dissolution of the Company, to compose the liquidation group subject to the
provisions of laws and the articles of association of the Company and legally exercise the powers owned by the liquidation group during the liquidation period, including but not limited to administrating assets of the Company; (10) to submit
any documents on behalf that are needed to be submitted by me as one of the shareholders of the Company to the competent governmental authorities; and (11) Any other rights or powers conferred to me as one of the shareholders of the Company
under the articles of association of the Company or applicable laws and regulations. 
 Without limiting the generality of the powers
granted under this Power of Attorney, the Agent shall have the rights, powers and authority under this Power of Attorney to authorize a representative(s) to execute on behalf of me the transfer agreement(s) (when I am required to be a party thereto)
described in the Exclusive Call Option Agreement and to perform the terms of the Equity Interest Pledge Agreement and the Exclusive Call Option Agreement which are executed on the same day of this Power of Attorney and to which I am a party. 

Within the effective term of this Power of Attorney and subject to any restrictions imposed by PRC laws, I undertake that after I obtain any
dividends, interests or capital allocations in any form, due to the equity of the Company they hold, remaining assets after liquidation, or revenue or consideration arising out of equity transfer, I will gift to the WFOE or any entity nominated by
the WFOE free of charge or compensation all of such dividends, interests, capital allocations, remaining assets after liquidation, revenue and consideration. 

 Proxy Agreement and Power of Attorney 

 

 Any and all acts committed by the Agent in connection with My Equity shall be deemed to be my
own acts, and any and all documents executed by the Agent in connection therewith shall be deemed to be executed by myself. The Agent, upon committing the foregoing acts, may act per its own intent, without firstly obtaining my consent, and I hereby
recognize and approve such the Agent’s such acts and/or documents. I hereby confirm that under any circumstance, the Agent shall not be required to bear any liability, or make any economic compensation, in connection with its exercise of my
equity above. And I agree to compensate and hold harmless the WFOE against any and all losses suffered by or that may be suffered by the WFOE arising out of or in connection with its appointment of the Agent, including but not limited to any losses
resulting from any proceedings, recovery, arbitrations or claims instituted by any third party or from any administrative investigation or punishment by any governmental authority. 

The WFOE shall have the right to re-authorize, or assign to, any other persons with its rights related
to the foregoing matters, without firstly notifying me or obtaining my consent. 
 Under the premises that I am one of the shareholder(s) to
the Company, this Power of Attorney shall be continuously effective as of the date of being executed and cannot be withdrawn, unless otherwise instructed by the WFOE. Once the WFOE notify me in writing to terminate part or all of this Power of
Attorney, I will promptly withdraw all rights, powers granted to the WFOE herein, and will promptly execute a power of attorney with the format same with that of this Power of Attorney to grant to any other person(s) nominated by the WFOE the
rights, powers same with the contents of this Power of Attorney. 
 During the effective term of this Power of Attorney, I hereby waive, and
will not exercise on my own, any and all rights and powers related to My Equity that have been granted to the Agent under this Power of Attorney. 

I will provide, and will procure the Company to provide, sufficient assistance regarding the exercise by the Agent of My Equity above,
including, if necessary (for example, to satisfy the requirements of governmental authorities for examination, submission and filing documents), timely execution of the shareholders’ meetings of the Company, or other legal documents, made by
the Agent, and procuring the Agent to have the right to access any all information related to the Company’s operations, business, customers, finance, employees, et cetera and to consult the Company’s relevant materials, et cetera. 

In case at any time during the effective term of this Power of Attorney, the granting or exercise of My Equity above cannot be realized for
any reason other than my default on any provisions of this Power of Attorney, the Parties shall promptly seek the substitute solutions closest to those provisions that cannot be realized and if necessary, execute an amendment(s) to modify or adjust
the terms of this Power of Attorney, so as to ensure continuous realization of the purposes of this Power of Attorney. 
 This Power of
Attorney shall be the amendment and restatement of the Power of Attorney entered into on May 13, 2020, and its force shall be retroactive to September 8, 2020. This Power of Attorney shall supersede any and all undertakings, memorandums of
understandings, agreements and/or other documents regarding the subject matters under this Power of Attorney. 
 [The following is the
signature page(s)] 

 Proxy Agreement and Power of Attorney 

 

 
			
	 Name: Chang Liu
  

	By:	 	 /s/ Chang Liu

 
			
	  
 September 8, 2020

  

			
	Witnessed By:	 	 /s/ Wentao Wei

 Name: Wentao Wei 

September 8, 2020 

 Proxy Agreement and Power of Attorney 

 

 Power of Attorney 

I, Zhan Xie, a citizen of the People’s Republic of China (“PRC”) with the ID Card number being [***], and a
holder of 1% of all the registered capital of Shanghai Hexu Information Technology Co., Ltd. (the “Company”) (“My Equity”) which corresponds RMB 300,000 of the registered capital of the Company, hereby
irrevocably authorize Shanghai Yiqi Zuoye Information Technology Co., Ltd. (the “WFOE”) to exercise the following rights and powers regarding My Equity during the effective term of this Power of
Attorney: 
 The WFOE or any person(s) nominated by the WFOE (the “Agent”) is hereby authorized as my sole agent and attorney-in-fact to act on behalf of me at his, her or its own will regarding all matters in connection with My Equity, including but not limited to (1) to propose
convention of shareholders’ meetings pursuant to the articles of association of the Company, and to execute and deliver any written resolutions in the name and on behalf of me; (2) to vote, personally or by sending a representative(s),
regarding any matters discussed by the shareholders’ meetings, including but not limited to, sales, transfer, mortgage pledge, hypothecation or otherwise disposal of any or all of the assets of the Company; (3) to sell, transfer, pledge,
hypothecate or otherwise dispose any or all of the equity in the Company; (4) if necessary, to nominate, appoint or remove from office any of the director(s) or supervisor(s) of the Company; (5) to supervise the operating performance of
the Company; (6) to lawfully consult the resolutions and records of the shareholders’ meetings and the BOD meetings, and financial accounting statements and financial information of the Company from time to time; (7) when any interest
of the Company or its shareholders is harmed by any acts or omissions of any directors or senior executives of the Company, to institute a lawsuit of the Existing Shareholders or take any other legal action against such directors or senior
executives; (8) to approve the annual budget or declare dividends, and to exercise the rights to dividends, the rights to obtain remaining property after the liquidation of the Company, and other rights to, in or of operations of the Company,
owned by me as one of the shareholders of the Company under the laws and regulations and the articles of association of the Company; (9) upon any liquidation or dissolution of the Company, to compose the liquidation group subject to the
provisions of laws and the articles of association of the Company and legally exercise the powers owned by the liquidation group during the liquidation period, including but not limited to administrating assets of the Company; (10) to submit
any documents on behalf that are needed to be submitted by me as one of the shareholders of the Company to the competent governmental authorities; and (11) Any other rights or powers conferred to me as one of the shareholders of the Company
under the articles of association of the Company or applicable laws and regulations. 
 Without limiting the generality of the powers
granted under this Power of Attorney, the Agent shall have the rights, powers and authority under this Power of Attorney to authorize a representative(s) to execute on behalf of me the transfer agreement(s) (when I am required to be a party thereto)
described in the Exclusive Call Option Agreement and to perform the terms of the Equity Interest Pledge Agreement and the Exclusive Call Option Agreement which are executed on the same day of this Power of Attorney and to which I am a party. 

Within the effective term of this Power of Attorney and subject to any restrictions imposed by PRC laws, I undertake that after I obtain any
dividends, interests or capital allocations in any form, due to the equity of the Company they hold, remaining assets after liquidation, or revenue or consideration arising out of equity transfer, I will gift to the WFOE or any entity nominated by
the WFOE free of charge or compensation all of such dividends, interests, capital allocations, remaining assets after liquidation, revenue and consideration. 

 Proxy Agreement and Power of Attorney 

 

 Any and all acts committed by the Agent in connection with My Equity shall be deemed to be my
own acts, and any and all documents executed by the Agent in connection therewith shall be deemed to be executed by myself. The Agent, upon committing the foregoing acts, may act per its own will, without firstly obtaining my consent, and I hereby
recognize and approve such the Agent’s such acts and/or documents. I hereby confirm that under any circumstance, the Agent shall not be required to bear any liability, or make any economic compensation, in connection with its exercise of my
equity above. And I agree to compensate and hold harmless the WFOE against any and all losses suffered by or that may be suffered by the WFOE arising out of or in connection with its appointment of the Agent, including but not limited to any losses
resulting from any proceedings, recovery, arbitrations or claims instituted by any third party or from any administrative investigation or punishment by any governmental authority. 

The WFOE shall have the right to re-authorize, or assign to, any other persons with its rights related
to the foregoing matters, without firstly notifying me or obtaining my consent. 
 Under the premises that I am one of the shareholder(s) to
the Company, this Power of Attorney shall be continuously effective as of the date of being executed and cannot be withdrawn, unless otherwise instructed by the WFOE. Once the WFOE notify me in writing to terminate part or all of this Power of
Attorney, I will promptly withdraw all rights, powers granted to the WFOE herein, and will promptly execute a power of attorney with the format same with that of this Power of Attorney to grant to any other person(s) nominated by the WFOE the
rights, powers same with the contents of this Power of Attorney. 
 During the effective term of this Power of Attorney, I hereby waive, and
will not exercise on my own, any and all rights and powers related to My Equity that have been granted to the Agent under this Power of Attorney. 

I will provide, and will procure the Company to provide, sufficient assistance regarding the exercise by the Agent of My Equity above,
including, if necessary (for example, to satisfy the requirements of governmental authorities for examination, submission and filing documents), timely execution of the shareholders’ meetings of the Company, or other legal documents, made by
the Agent, and procuring the Agent to have the right to access any all information related to the Company’s operations, business, customers, finance, employees, et cetera and to consult the Company’s relevant materials, et cetera. 

In case at any time during the effective term of this Power of Attorney, the granting or exercise of My Equity above cannot be realize for any
reason other than my default on any provisions of this Power of Attorney, the Parties shall promptly seek the substitute solutions closest to those provisions that cannot be realized and if necessary, execute an amendment(s) to modify or adjust the
terms of this Power of Attorney, so as to ensure continuous realization of the purposes of this Power of Attorney. 
 This Power of Attorney
shall be retroactive to September 8, 2020. This Power of Attorney shall supersede any and all undertakings, memorandums of understandings, agreements and/or other documents regarding the subject matters under this Power of Attorney. 

[The following is the signature page(s)] 

 Proxy Agreement and Power of Attorney 

 

 
			
	 Name: Zhan Xie
  

	By:	 	 /s/ Zhan Xie

 
			
	  
 September 8, 2020

  

			
	Witnessed By:	 	 /s/ Wentao Wei

 Name: Wentao Wei 

September 8, 2020

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