Document:

EX-10.10

 Exhibit 10.10 

Letter of Commitment 
 To:
Puxin Limited (“Cayman Company”) 
        Purong (Beijing) Information Technology Co., Ltd. (“WFOE”) 

Whereas: 
  

	 	1.	Ningbo Meishan Bonded Port Area Zhimei Phase V Equity Investment Limited Partnership (hereinafter referred to as “Ningbo Zhimei”) holds 7.267% equity of Puxin Education Technology Group Co., Ltd
(hereinafter referred to as the “domestic company”): 

  

	 	2.	The property share proportions of Ningbo Zhimei held by all the partners of Ningbo Zhimei are listed as follows: 

  

											
	 No.
	  	Name	  	Type of partner	 	  	Property share
proportion of limited
partnership enterprise	 
	 (1)
	  	Li Shujun	  	 	Limited partner	 	  	 	96.67	% 
	 (2)
	  	Wu Zhiguang	  	 	General partner	 	  	 	3.33	% 

 ((1) - (2) above are collectively referred to as “Partners”) 

 

	 	3.	The aforesaid partners have acknowledged and agreed that Ningbo Zhimei preferably pledges the 7.267% equity of the domestic company it holds to WFOE (“equity pledge”) for the guarantee of the fulfilment
of a series of structural contracts among Ningbo Zhimei, the domestic company and WFOE (See “Appendix I” to this Letter of Commitment). 

 In order to guarantee the effectiveness of preference and stable implementation of the structural contracts and
equity pledge, the aforesaid partners hereby irrevocably undertake as follows: 
 As of the date of issuing this Letter of Commitment, unless with the prior
written consent of WFOE and Cayman Company, the aforesaid partners shall not, at present and in the future, set pledges, selling or disposals, guarantee right of other third parties, or right of priority of other third parties, or other disposals or
transactions with the same economic results, which may affect the effectiveness of preference of the Equity Pledge and the stable implementation of the structural contracts, with the property share of Ningbo Zhimei held by them. In case of violation
of this Letter of Commitment, the aforesaid partners shall assume liabilities of breach for the domestic company, WFOE and Cayman Company, and shall compensate the domestic company, WFOE and Cayman Company for all of their losses and damages. 

The aforesaid partners further undertake that they will urge Ningbo Zhimei to fulfil the aforesaid undertakings. 

This Letter of Commitment shall be governed by and interpreted under the laws of the People’s Republic of China. 

[The remainder of this page is deliberately left blank] 

 (This page is the signature page of this Letter of Commitment) 

Promisors: 
  

							
	Li Shujun	 	Signature:	 	 /s/ Li Shujun
	 	
				
	Wu Zhiguang	 	Signature:	 	 /s/ Wu Zhiguang
	 	

 February 5, 2018 

 Appendix I Structural Contracts 
  

	1.	The Exclusive Call Option Agreement signed by Purong (Beijing) Information Technology Co., Ltd., Sha Yunlong, Xiao Yun, Gao Liang, Li Gang, Tianjin Puxian Education and Technology Limited Partnership, Ningbo
Zhimei and the domestic company on February 5, 2018. 

  

	2.	The Exclusive Management Service and Business Cooperation Agreement signed by Purong (Beijing) Information Technology Co., Ltd., Sha Yunlong, Xiao Yun, Gao Liang, Li Gang, Tianjin Puxian Education and Technology Limited
Partnership, Ningbo Zhimei and the domestic company and relevant parties concerned on February 5, 2018. 

  

	3.	The Equity Pledge Agreement signed by Purong (Beijing) Information Technology Co., Ltd., Sha Yunlong, Xiao Yun, Gao Liang, Li Gang, Tianjin Puxian Education and Technology Limited Partnership, Ningbo Zhimei and the
domestic company on February 5, 2018. 

  

	4.	The Power of Attorney issued by Ningbo Zhimei on February 5, 2018. 

  

	5.	The Loan Agreement signed by Purong (Beijing) Information Technology Co., Ltd. and Ningbo Zhimei on February 5, 2018. 

 Letter of Commitment 

To: Puxin Limited (“Cayman Company”) 

       Purong (Beijing) Information Technology Co., Ltd. (“WFOE”) 

Whereas: 
 1. Tianjin Puxian
Education and Technology Limited Partnership (hereinafter referred to as “Tianjin Puxian”) is a shareholder of Puxin Education Technology Group Co., Ltd (hereinafter referred to as the “domestic company”), with
legal ownership of the equity of the domestic company. 
 2. All the partners of Tianjin Puxian are listed as follows: 

 

							
	 No.
	  	 Name
	  	 Type of partner
	  	 
	(1)	  	Li Gang	  	General partner	  	
				
	(2)	  	Song Wenjing	  	Limited partner	  	
				
	(3)	  	Zhang Hongwei	  	Limited partner	  	
				
	(4)	  	Dong Zhi	  	Limited partner	  	
				
	(5)	  	Tan Chunxiang	  	Limited partner	  	
				
	(6)	  	Yang Hao	  	Limited partner	  	
				
	(7)	  	Luo Ke	  	Limited partner	  	
				
	(8)	  	Bai Liping	  	Limited partner	  	
				
	(9)	  	Cheng Sheng	  	Limited partner	  	
				
	(10)	  	Kang Yiwen	  	Limited partner	  	
				
	(11)	  	Guo Wei	  	Limited partner	  	
				
	(12)	  	Lai Han	  	Limited partner	  	
				
	(13)	  	Li Hong	  	Limited partner	  	
				
	(14)	  	Li Shiwei	  	Limited partner	  	
				
	(15)	  	Tian yang	  	Limited partner	  	
				
	(16)	  	Zhang Ping	  	Limited partner	  	
				
	(17)	  	Zhao Xiaolin	  	Limited partner	  	
				
	(18)	  	Zhao Yuanyuan	  	Limited partner	  	
				
	(19)	  	Zhou Rong	  	Limited partner	  	

					
			
	 (20)
	  	Zhuang Zhong	  	Limited partner
			
	 (21)
	  	Liu Ning	  	Limited partner
			
	 (22)
	  	Liu Xinxin	  	Limited partner
			
	 (23)
	  	Zeng Hua	  	Limited partner
			
	 (24)
	  	Chen Yedong	  	Limited partner
			
	 (25)
	  	Li Hongqiao	  	Limited partner
			
	 (26)
	  	Zhang Han	  	Limited partner
			
	 (27)
	  	Yan Bingxiang	  	Limited partner

 (The abovementioned 27 partners are collectively referred to as “Partners”) 

3. The aforesaid partners have known and agreed that Tianjin Puxian preferably pledges all the equity held by it of the domestic company to
WFOE (“equity pledge”), so as to guarantee the fulfilment of a series of structural contracts (see “Appendix I” of this Letter of Commitment) among Tianjin Puxian, the domestic company and WFOE. 

In order to guarantee the effectiveness of preference and stable implementation of the structural contracts and equity pledge, the aforesaid
partners hereby irrevocably undertake that: 
 As of the date of issuing this Letter of Commitment, unless with the written consent of WFOE
and Cayman Company, the aforesaid partners shall not, at present and in the future, set pledges, selling or disposals, guarantee right of other third parties, or right of priority of other third parties, or other disposals or transactions with the
same economic results, which may affect the effectiveness of preference of equity pledge and the stable implementation of the structural contracts, with the property share held by them of Tianjin Puxian. In case of violation of this Letter of
Commitment, the aforesaid partners shall assume liabilities of breach for the domestic company, WFOE and Cayman Company, and shall compensate the domestic company, WFOE and Cayman Company for all of their losses and damages. 

 Unless with the written consent of WFOE and the domestic company, the aforesaid partners shall
not, during the period of indirectly holding the equity of the domestic company and for the sake of the their own interest and the interests of others, directly or indirectly engage in, own, invest in, participate in or operate any businesses or
activities (“competitive businesses”) that compete or may compete with the domestic company and its subsidiaries, or utilize any information obtained from the domestic company and its subsidiaries to engage in competitive
businesses, or obtain any interests from any competitive businesses. If the aforesaid partners directly or indirectly engage in, own, invest in, participate in or operate any competitive businesses, then WFOE or the entities designated by WFOE shall
have the right to ask for the signing of Exclusive Call Option Agreement, Exclusive Management Services and Business Cooperation Agreement, Equity Pledge Agreement, Power of Attorney and any other legal documents permitted or required by Chinese
laws with the aforesaid entities engaging in competitive businesses, so as to form relations of control upon agreement with the aforesaid entities engaging in competitive businesses. 

The aforesaid partners further undertake that they will urge Tianjin Puxian to fulfil the aforesaid undertakings. 

This Letter of Commitment shall be governed by and interpreted under the laws of the People’s Republic of China. 

[The remainder of this page is deliberately left blank] 

 (This page is the signature page of Letter of Commitment) 

Promisors: 
  

							
	Li Gang	 	Signature:	 	 /s/ Li Gang
	  	
				
	Song Wenjing	 	Signature:	 	 /s/ Song Wenjing
	  	
				
	Zhang Hongwei	 	Signature:	 	 /s/ Zhang Hongwei
	  	
				
	Dong Zhi	 	Signature:	 	 /s/ Dong Zhi
	  	
				
	Tan Chunxiang	 	Signature:	 	 /s/ Tan Chunxiang
	  	
				
	Yang Hao	 	Signature:	 	 /s/ Yang Hao
	  	
				
	Luo Ke	 	Signature:	 	 /s/ Luo Ke
	  	
				
	Bai Liping	 	Signature:	 	 /s/ Bai Liping
	  	
				
	Cheng Sheng	 	Signature:	 	 /s/ Cheng Sheng
	  	
				
	Kang Yiwen	 	Signature:	 	 /s/ Kang Yiwen
	  	
				
	Guo Wei	 	Signature:	 	 /s/ Guo Wei
	  	
				
	Lai Han	 	Signature:	 	 /s/ Lai Han
	  	
				
	Li Hong	 	Signature:	 	 /s/ Li Hong
	  	

							
				
	Li Shiwei	 	Signature:	 	 /s/ Li Shiwei
	  	
				
	Tian yang	 	Signature:	 	 /s/ Tian yang
	  	
				
	Zhang Ping	 	Signature:	 	 /s/ Zhang Ping
	  	
				
	Zhao Xiaolin	 	Signature:	 	 /s/ Zhao Xiaolin
	  	
				
	Zhao Yuanyuan	 	Signature:	 	 /s/ Zhao Yuanyuan
	  	
				
	Zhou Rong	 	Signature:	 	 /s/ Zhou Rong
	  	
				
	Zhuang Zhong	 	Signature:	 	 /s/ Zhuang Zhong
	  	
				
	Liu Ning	 	Signature:	 	 /s/ Liu Ning
	  	
				
	Liu Xinxin	 	Signature:	 	 /s/ Liu Xinxin
	  	
				
	Zeng Hua	 	Signature:	 	 /s/ Zeng Hua
	  	
				
	Chen Yedong	 	Signature:	 	 /s/ Chen Yedong
	  	
				
	Li Hongqiao	 	Signature:	 	 /s/ Li Hongqiao
	  	
				
	Zhang Han	 	Signature:	 	 /s/ Zhang Han            
	  	
				
	Yan Bingxiang	 	Signature:	 	 /s/ Yan
Bingxiang                
	  	

 Date: February 5, 2018 

 Appendix I Structural Contracts 
  

	1.	The Exclusive Call Option Agreement signed by Purong (Beijing) Information Technology Co., Ltd., Sha Yunlong, Xiao Yun, Gao Liang, Li Gang, Tianjin Puxian Education and Technology Limited Partnership, Ningbo
Zhimei and the domestic company on February 5, 2018. 

  

	2.	The Exclusive Management Service and Business Cooperation Agreement signed by Purong (Beijing) Information Technology Co., Ltd., Sha Yunlong, Xiao Yun, Gao Liang, Li Gang, Tianjin Puxian Education and Technology Limited
Partnership, Ningbo Zhimei and the domestic company and relevant parties concerned on February 5, 2018. 

  

	3.	The Equity Pledge Agreement signed by Purong (Beijing) Information Technology Co., Ltd., Sha Yunlong, Xiao Yun, Gao Liang, Li Gang, Tianjin Puxian Education and Technology Limited Partnership, Ningbo Zhimei and the
domestic company on February 5, 2018. 

  

	4.	The Power of Attorney issued by Ningbo Zhimei on February 5, 2018. 

  

	5.	The Loan Agreement signed by Purong (Beijing) Information Technology Co., Ltd. and Ningbo Zhimei on February 5, 2018.EX-10.11

 Exhibit 10.11 

Exclusive Management Services and Business Cooperation Agreement 

This Exclusive Management Services and Business Cooperation Agreement (hereinafter referred to as the “Agreement”), amended
based on the Exclusive Management Services and Business Cooperation Agreement dated February 5, 2018, was signed by the following parties on February 25, 2018 in Beijing of the People’s Republic of China. 

Party A: Purong (Beijing) Information Technology Co., Ltd., a wholly foreign-owned enterprise legally established and subsisting under the laws of the
PRC, with a unified social credit code of 91110108MA019R588L and a registered address of 0807 & 0808, Floor 7, Block 1, 113 Zhichun Road, Haidian District, Beijing. 

Party B: Puxin Education Technology Group Co., Ltd., a limited liability company legally established and subsisting under the laws of the PRC, with a
unified social credit code of 91110108317937192W and a registered address at unit 05-535, 8/F, No. 18 Zhongguancun Avenue, Haidian District, Beijing 

Party C: Sha Yunlong, Chinese citizen, ID no. is [                ] 

Xiao Yun, Chinese citizen, ID no. is [                ]

 Gao Liang, Chinese citizen, ID no. is
[                ] 
 Li Gang, Chinese citizen, ID no.
is [                ] 
 Tianjin Puxian Education and
Technology Limited Partnership, a limited liability partnership legally established and subsisting under the laws of the PRC, with a unified social credit code of 91120222300648730X and a registered address at
223-1, 8 Xinfu Road, Dajianchang Town, Wuqing District, Tianjin. 
 Shanghai Trustbridge
Investment Management Co., Ltd., a limited liability company legally established and subsisting under the laws of the PRC with its unified social credit code of 9131011479447504XP and the registered address at Room 7504, No. 7, Lane 1028,
Fengdeng Road, Malu Town, Jiading District, Shanghai. 

  
 1 

 Ningbo Meishan Bonded Port Area Zhimei Phase V Equity Investment Partnership Limited, a
limited liability partnership company legally established and subsistingunder the laws of the PRC, with a unified social credit code of 91330206MA28YH3T6T and a registered address at Room 4005, No. 11 Office Building, Business Center, Meishan
Avenue, Beilun District. 
 (Party A, Party B and Party C are referred to as “one party” respectively and collectively referred to as the
“parties”. “Party B’s subsidiaries” are all the principal bodies mentioned in Appendix I to this Agreement and the institutions invested and controlled by Party B (including but not limited to the companies,
schools and relevant institutions, more than 50% investment equity of which are directly or indirectly held by Party B) updated from time to time according to this Agreement. 

Whereas: 
  

	 	(1)	Party A is a wholly foreign-owned enterprise effectively established and lawfully subsisting under the laws of the PRC, with business scope including technology development, technology advice, technology services,
technology transfer; computer system services; business management consultancy; sales of self-developed products, stationery commodities, sporting goods, household groceries, household appliances, computers, software and auxiliary equipment,
cosmetics, handicrafts; import and export of goods, import and export of technology, import and export of agent goods (items subject to approval in accordance with the laws, and operation of business subject to the contents approved by the relevant
authorities). 

  

	 	(2)	Party B is a company with limited liability effectively established and lawfully subsisting under the laws of the PRC, mainly engaging in education consultancy (excluding intermediary service); cultural consultancy;
investment management; asset management; technology development; technology promotion; technology transfer; technology consultancy; technology service; sales of self-developed products; computer system services; basic software services; application
software services; software development; software consulting (hereinafter referred to as “the Main Services”); 

  
 2 

	 	(3)	Subsidiaries currently held by Party B are shown in Appendix I. 

  

	 	(4)	Party C is a shareholder of Party B, and holds 100% equity of Party B. 

  

	 	(5)	Party B and Party C undertake to help materializing the compliance and implementation of the terms under this Agreement by Party B’s subsidiaries, and sign necessary relevant specific agreements or documents to
realize the purposes of this Agreement under the request of Party A; 

  

	 	(6)	Party A agrees to provide Party B and Party B’s subsidiaries with exclusive education management consultancy, permission of intellectual property rights, technological support and business support by leveraging its
advantages on talents, technology and information and Party B and Party B’s subsidiaries agree to accept the relevant services provided by Party A. 

The parties have reached a consensus and the following agreement: 
  

	 	1.	Provision of Service 

  

	 	1.1	According to the terms and conditions of this Agreement, Party B and Party C hereby appoint Party A as the exclusive provider of technology and service for Party B and Party B’s subsidiaries during the period of
this Agreement, so as to provide Party B and Party B’s subsidiaries with comprehensive education management consultancy, permission of intellectual property rights, technological support and business support. Specific contents are given in
Appendix II of this Agreement. Party B and Party B’s subsidiaries are the “service recipients”. 

Party B shall, and Party B shall guarantee to procure Part B’s subsidiaries, based on actual business needs, determine the services
together with Party A or the entities designated by Party A, and such services are given in Appendix II of this Agreement. The parties understand that the services actually provided by Party A are subject to Party A’s approved
business scope; and if Party B and Party B’s subsidiaries require Party A to provide services beyond Party A’s approved business scope, Party A shall have the right to designate third parties or within the maximum limit allowed by law to
apply for expanding its business scope, and then provide services after the application has been approved. 

  
 3 

	 	1.2	Party B and Party C further agree that, without the prior written consent of Party A, Party B and Party C guarantee that they and their relevant institutions (including but not limited to Part B’s subsidiaries)
shall not directly or indirectly obtain services the same as or similar to the exclusive technology and services specified in this Agreement from any third party, and shall not establish any similar cooperation relations relating to the matters
covered herein with any third party and shall promise that their relevant institutions shall not do so. Party B and Party C agree that Party A may designate other parties to provide Party B and Part B’s subsidiaries with the services specified
in Appendix II of this Agreement. 

  

	 	1.3	In order to ensure the normal operation of daily business of Party B and Party B’s subsidiaries, Party A may (but not necessarily), based on its own judgement and Chinese laws and regulations, provide guarantee for
the performance of other business contracts and agreements signed between Party B and Party B’s subsidiaries and any third parties related to its business as the guarantor. Party B and Party C hereby unanimously agree and confirm that Party A
shall first be appointed as the guarantor if it is necessary to provide any guarantee for the fulfilment of any contract or loan during the business operation of Party B and/or Party B’s subsidiaries. 

 

	 	2.	Price and Payment Method of Services 

  

	 	2.1	Party A may, by referring to the specific service contents and objects and the income, number of students in the particular period of Party B and Party B’s subsidiaries, determine by itself the price and
appropriate payment methods of services, and the specific calculation and payment methods of service expenses are given in Appendix II of this Agreement. 

  
 4 

	 	2.2	If Party A thinks that the confirmation mechanism of service prices specified in this Agreement becomes inappropriate because of some reasons and therefore shall be adjusted, Party A shall actively and honestly propose
adjustment plan, so as to confirm new price standard or mechanism. If the service recipients fail to reply within seven workdays after receiving the notice of the aforesaid adjustment, it shall be deemed as having accepted the said adjustment to
service price. 

  

	 	3.	Intellectual Property Rights 

  

	 	3.1	The intellectual property rights of all the achievements arising from performing this Agreement shall include but not limited to copyright, patent, the right to apply for patent, technological secrets, commercial
secrets, etc., whether or not developed by Party A, and shall be the ownerships, rights and interests that are exclusively enjoyed by Party A. Party B, Party B’s subsidiaries and Party C shall not enjoy any other rights that are not specified
in this Agreement unless with the permission of Party A, and shall support Party A in taking all necessary measures to obtain such intellectual property rights. For the avoidance of doubt, except for the intellectual property rights that are
confirmed by Party A as necessary for normal business operation of Party B or Party B’s subsidiaries or shall be held by Party B or Party B’s subsidiaries according to relevant domestic laws and regulations, as for the intellectual
property rights that have been held or applied by Party B or Party B’s subsidiaries to relevant competent authorities as of the signing date of this Agreement, the equity holders or applicants of other intellectual property rights shall, based
on Party A’s requirements, transfer the said intellectual property rights to Party A or Party A’s related parties, and Party B or Party B’s subsidiaries shall sign a transfer agreement of intellectual property rights with Party A or
Party A’s related parties. 

  

	 	3.2	If development is conducted by Party A based on the intellectual property rights of Party B or Party B’s subsidiaries, Party B and Party B’s relevant subsidiary shall ensure that there are not any flaw of such
intellectual property rights, otherwise Party B and Party B’s relevant subsidiaries shall bear the losses caused to Party A. If Party A needs to compensate any third person in this case, Party A shall have the right to, after such a
compensation, claim for all the losses against Party B and/or relevant Party B’s subsidiaries. 

  
 5 

	 	3.3	The parties agree that, regardless of whether this Agreement is changed, cancelled or terminated, these terms are binding. 

  

	 	4.	Realization of Party A’s Rights 

 Whereas the provisions of Article 1 of this
Agreement and in order to clarify the rights and interests of the parties, guarantee the actual performance of management services agreement provided by Party A for Party B and Party B’s subsidiaries, the implementation of business services
between Party A and Party B and Party B’s subsidiaries, and the payment by Party B and Party B’s subsidiaries for payable consideration to Party A, Party B and Party C hereby agree that, and guarantee to procure Party B to agree: 

 

	 	4.1	Party A shall have the right to propose suggestions or requirements regarding the daily operation, financial management and staff employment of Party B and Party B’s subsidiaries, and Party B and Party B’s
subsidiaries shall strictly fulfil or observe the said suggestions or requirements proposed by Party A. 

  

	 	4.2	Party C, Party B and Party B’s subsidiaries shall, according to laws and regulations and the procedures specified in the articles of association of school or company, select candidates designated by Party A as the
directors of Party B and Party B’s subsidiaries, and procure the said elected directors to select the chairman of the board of directors from the candidates recommended by Party A, and appoint the persons designated by Party A as all of the
senior executives (including but not limited to principal, general manager, financial controller, responsible persons of respective businesses, financial management staff, financial monitoring staff and accountant) of Party B and Party B’s
subsidiaries. 

  
 6 

	 	4.3	Party C, Party B and/or Party B’s subsidiaries shall, based on Party A’s requirements, dismiss any directors and/or senior executives of Party B and Party B’s subsidiaries, and immediately select and
appoint other persons designated by Party A to assume the said positions. 

  

	 	4.4	In respect of the objective of Clause 4.3, Party C, Party B and Party B’s subsidiaries shall, according to laws, articles of association and this Agreement, take all necessary internal or external procedures to
complete the abovementioned dismissal and employment procedures. 

  

	 	4.5	Party A shall have the right to check the accounts of Party B and Party B’s subsidiaries regularly or at any time. Party B and Party B’s subsidiaries shall timely and accurately record the accounts, and shall,
upon requirements of Party A, provide Party A with their accounts, audit reports, financial statements and all operation records, business contracts and financial information. During the validity period of this Agreement and on the condition of not
violating applicable laws, Party B and Party B’s subsidiaries shall agree to support Party A and any third party designated by Party A in auditing (including but not limited to audit of related transactions and other audits of various types),
provide relevant information and data relating to operation, business, customers, finance and staff of Party B and Party B’s subsidiaries for Party A and any third party designated by Party A and auditors appointed by Party A, and shall agree
that Party A or any other related parties of Party A may disclose such information and data in order to meet the relevant requirements of securities regulatory authorities. 

 

	 	4.6	Party C hereby agrees to, on the date of signing this Agreement, present Party A with a Power of Attorney, the content and form of which satisfy Party A, and comprehensively, appropriately and completely perform the
stipulation of such a Power of Attorney, including but not limited to, according to this Power of Attorney, unconditionally and irrevocably authorizing Party A or the persons (“trustee”, and such a trustee shall not be Party C)
designated by Party A as the representative of Party C to exercise the rights of shareholders and/or directors of Party B and Party B’s subsidiaries based on the will of the trustee. 

  
 7 

	 	4.7	Party C confirms that it has comprehensively and clearly understood the obligations of Party B and Party B’s subsidiaries under this Agreement at the time of signing this Agreement, and that it is willing to pledge
the 100% equity of Party B held by it to Party A, so as to provide guarantee for the performance of all the obligations of Party B under this Agreement. The parties will sign a separate agreement on equity pledge. 

 

	 	4.8	Party B and Party C hereby agree that, and Party B and Party C guarantee to procure Party B’s subsidiaries to agree, once Party A submits a written request, Party B and Party B’s subsidiaries and Party C will
pledge all of their receivables and/or all the other assets that are lawfully owned and may be disposed of by them as the guarantee for the payment obligation of the service expenses specified in Clause 2.1 of this Agreement, in a manner then
permitted by the laws. Party B and Party C hereby agree that, and Party B and Party C guarantee to procure Party B’s subsidiaries to agree, during the validity period of this Agreement, Party B and Party B’s subsidiaries maintain complete
business licences necessary for operation and adequate rights and qualifications to engage in the current businesses in China.     

  

	 	4.9	In case of liquidation or dissolution of Party B and Party B’s subsidiaries for various reasons, Party C, Party B or Party B’s subsidiaries shall, within the scope permitted by Chinese laws, appoint the
persons recommended by Party A as the liquidation team, which takes charge of managing the property of Party B and Party B’s subsidiaries. Party C, Party B and Party B’s subsidiaries promise that in case of liquidation or dissolution of
Party B and Party B’s subsidiaries, Party C, Party B or Party B’s subsidiaries shall deliver all the remaining property obtained from the liquidation of Party B and Party B’s subsidiaries conducted according to Chinese laws and
regulations respectively to Party A or the third parties designated by Party A, no matter whether the agreement specified in this article has been implemented and within the restriction of Chinese laws. 

 

	 	4.10	Without the prior written consent of Party A, Party B and Party B’s subsidiaries are not allowed to conduct any transactions that may substantially affect their assets, obligations, rights or operation of
institutions, including but not limited to: 

  
 8 

	 	(1)	To conduct any activities beyond the normal business scope of institutions or do business not in the consistent and usual way; 

  

	 	(2)	To lend the third parties money or assume any debts; 

  

	 	(3)	To change or dismiss any directors or change any executives; 

  

	 	(4)	Employ other staff or service providers with annual remuneration more than RMB 500,000; 

  

	 	(5)	To sell to any third parties or obtain from any third parties, or otherwise deal with any assets or rights, including but not limited to any intellectual property rights; 

 

	 	(6)	To provide guarantee for any third parties with its assets or intellectual property rights, or provide guarantee in any other forms or set any encumbrance on the assets of institutions not because of the debts of Party
B and Party B’s subsidiaries; 

  

	 	(7)	To change the articles of association of institutions or change the business scope of institutions; 

  

	 	(8)	To change the operation method, business procedures of institutions or change any major internal rules and systems of institutions; 

  

	 	(9)	To significantly adjust its business operation models, marketing strategies, operation guidelines or customer relations; 

  

	 	(10)	To distribute bonus and dividends in any form; 

  

	 	(11)	To liquidate institutions and distribute the remaining assets; 

  

	 	(12)	To transfer the rights and interests under this Agreement to any third parties; 

  

	 	(13)	To sign any other agreements or arrangements which contradict this Agreement or may damage the rights and interests of Party A under this Agreement; and 

 

	 	(14)	To conduct contracted operation, operation of lease, consolidation, division, joint venture, shareholding reform or other arrangements that change the operation method and equity structure, or deal with all or
substantial assets or rights and interests of the institutions of Party B and Party B’s subsidiaries in the form of transfer, or assignment or capital contribution at a certain price or other ways. 

  
 9 

 Moreover, Party B shall, and Party C shall, procure Party B and Party B’s subsidiaries to
immediately inform Party A of any situations that will or may substantially and adversely affect the businesses and operation of Party B and Party B’s subsidiaries, and shall use its best endeavours to avoid the occurrence of such situations
and/or the expansion of losses. 
  

	 	4.11	Party B hereby grants Party A an irrevocable and exclusive purchase right, pursuant to which Party A may, at its own option, purchase any partial or entire assets and businesses from Party B at the minimum price allowed
by the Chinese laws within the scope permitted by the Chinese laws and regulations. The two parties will then separately sign asset or business transfer contract to specify the terms and conditions of such asset transfer. 

 

	 	5.	Validity Period and Termination Right 

  

	 	5.1	This Agreement was signed and took effect on the date set out in the first page. 

  

	 	5.2	This Agreement shall be effective in the operation period of Party A, Party B and Party B’s subsidiaries unless it is cancelled earlier as unanimously agreed by the parties. 

 

	 	5.3	The parties agree to grant Party A an option to terminate this Agreement at any time. Party A shall have the right to terminate this Agreement at any time during the performance of this Agreement by serving a written
notice. 

  

	 	5.4	Party B and/or Party C are not allowed to terminate this Agreement under any situations without the prior written consent of Party A. 

 

	 	6.	Representations and Warranties 

  

	 	6.1	Party A makes the following representations and warranties for Party B and Party C: 

  
 10 

	 	(1)	Party A is a wholly foreign-owned enterprise legal person lawfully established and effectively subsisting under the laws of the PRC, and has the capacity of independently undertaking civil liabilities.

  

	 	(2)	Party A has the full corporate powers necessary for signing and delivering this Agreement and fulfilling its obligations under this Agreement. After the signing, this Agreement shall constitute statutory, effective and
binding obligations for Party A and may be enforceable based on its terms. 

  

	 	(3)	The signing of this Agreement and Party A’s fulfilment of the obligations under this Agreement will not contradict, breach or violate (i) any requirements of Party A’s any business licences or articles of
association; (ii) any laws, rules, ordinances, authorizations or approvals of any government agencies or departments that are applicable to Party A; and (iii) any requirements of the contracts and agreements to which Party A is the signing
party or main body. 

  

	 	6.2	Party B makes the following representations and warranties to Party A: 

  

	 	(1)	Party B and Party B’s subsidiaries are companies with limited liability or non-governmental non-profit units (legal person) lawfully
established and effectively subsisting under the laws of the PRC, and have the capacity of independently undertaking civil liabilities with its registered capital. 

 

	 	(2)	Party B has the full authority necessary for signing and delivering this Agreement and completely fulfilling their obligations under this Agreement. After the signing, this Agreement shall constitute statutory,
effective and binding obligations for Party B and may be enforceable based on its terms. 

  

	 	(3)	The signing of this Agreement and the fulfilment by Party B of the obligations under this Agreement will not contradict, breach or violate (i) any requirements of business licences or articles of association of
Party B and Party B’s subsidiaries; (ii) any laws, rules, ordinances, authorizations or approvals of any government agencies or departments that are applicable to Party B and Party B’s subsidiaries; and (iii) any requirements of
the contracts and agreements to which Party B and Party B’s subsidiaries or any of their related companies are the signing parties or main bodies. 

  
 11 

	 	(4)	Party B and Party B’s subsidiaries will, based on Party A’s requirements, provide Party A with relevant information and document; assign special staff to communicate with Party A and coordinate the work, and
actively support Party A’s on-site investigation and data collection at Party B and Party B’s subsidiaries. 

  

	 	(5)	If necessary, Party B and Party B’s subsidiaries shall provide necessary working facilities and conditions for Party A’s professionals, and bear the corresponding expenditures and expenses incurred during the
provision of management services by the said professionals at Party B and Party B’s subsidiaries; 

  

	 	(6)	To develop and provide the Main Services effectively, prudently and lawfully, maintain and timely update all the licences and authorizations necessary for the provision of the Main Services by Party B and Party B’s
subsidiaries under this Agreement, so as to maintain the validity and full legal force of such licences and authorizations; and establish and maintain an independent recording unit for the Main Services ; 

	 	(7)	To provide Party A with any technological information or other data that Party A thinks are necessary for fulfilling the obligations under this Agreement, and allow Party A to enter the relevant venues and facilities
that Party A thinks are necessary for providing the services under this Agreement; 

  

	 	(8)	Party B and Party B’s subsidiaries will, based on relevant Chinese laws and regulations, conduct business operation and handle all the necessary formalities relating to the business operation, and timely provide
Party A with the copies of the aforesaid licences; 

  

	 	(9)	Party B and Party B’s subsidiaries have all the permits, licences, authorizations, approvals and facilities necessary for providing the Main Services during the validity period of this Agreement, and Party B and
Party B’s subsidiaries guarantee that the aforesaid permits, licences, authorizations and approvals will continue to have legal force and legally valid during the entire validity period of this Agreement. 

  
 12 

	 	(10)	To pay service expenses to Party A on time. 

  

	 	7.	Confidentiality 

  

	 	7.1	All the terms of this Agreement and this Agreement itself are both confidential, and the parties shall not disclose them to any third party, except for the disclosure to senior staff, directors, employees, agents and
professional consultants that are related to this project and undertake the confidentiality obligation to the said parties or their related parties; with the exception of the disclosure of information or content of this document to government,
public or shareholders and the filing of this document at relevant institutions based on the requirements of laws or relevant securities trading institutions. 

  

	 	7.2	This article shall still have legal force no matter whether this Agreement has been altered, cancelled or terminated. 

  

	 	8.	Liabilities for Default 

  

	 	8.1	Where a party fails to fulfil any of its obligations under this Agreement or any representations or guarantees of such party under this Agreement are substantially untrue or inaccurate, such Party shall be in breach of
this Agreement and shall be liable for compensation of all losses of other parties or pay liquidated damages according to the agreement separately signed by the relevant parties. 

 

	 	8.2	Where Party B is deemed as having breached this Agreement according to Clause 8.1, Party B shall fully compensate Party A for any losses, damages or liabilities (including the losses and expenses arising from any
lawsuit, claim for compensation or other requirements) that Party A incur or assume because of fulfilling the obligations under this Agreement or providing the services specified in this Agreement. 

  
 13 

	 	8.3	Regardless of whether this Agreement is changed, cancelled or terminated, these terms are legally binding. 

  

	 	9.	Force Majeure 

 A force majeure event means any event unforeseen by any party at the
time of signing this Agreement that cannot be avoided, controlled and overcome (including but not limited to earthquake, typhoon, flood, fire, strike, war or riot, etc.). 

In view of the fact that the force majeure event affects the performance of this Agreement, in the event of force majeure, the party shall
forthwith (i) notify the remaining parties in the form of telegraph, facsimile or other electronic means and submit the written evidence of force majeure within fifteen (15) working days; (ii) take all reasonable and possible measures
to eliminate or mitigate the effects of force majeure event and to resume the fulfillment of its obligations upon the elimination or mitigation of the effects of force majeure event. 

 

	 	10.	Transfer of Agreement and Changes to Parties of Agreement 

  

	 	10.1	Without the prior written consent of Party A, none of Party B and Party C shall have the right to transfer any of its rights and obligations under this Agreement to any third party, except for the situation that Party A
directly or indirectly obtains the equity of Party B based on the Exclusive Call Option Agreement signed by Party A, Party B and Party C on February 25, 2018 (including amendments made by the parties from time to time). 

 

	 	10.2	Party B hereby agrees that Party A may transfer its rights and obligations under this Agreement to third parties, and Party A only needs to issue a written notice to Party B at the time of such transfer, without
obtaining Party B’s consent of the said transfer. 

  
 14 

	 	10.3	Addition of Party B’s subsidiaries. In case that it is necessary to add Party B’s subsidiaries at any time starting from the effective date of this Agreement, the said Party B’s subsidiaries newly added
shall be regarded as one of the Party B’s subsidiaries specified under this Agreement. The other parties of this Agreement hereby agree with and completely accept the aforesaid arrangement. 

 

	 	10.4	The rights and obligations under this Agreement shall be legally binding on the transferees and successors (no matter whether the transfer of such rights and obligations are caused by acquisition, reorganization,
succession, transfer or other reasons) of rights and obligations of the parties of this Agreement. 

  

	 	10.5	If Party C no longer holds any shares of Party B, it shall be deemed that Party C is no longer either party of this Agreement. In case that any third party becomes a shareholder of Party B, Party B and Party C shall try
its best to include the said third party as one of Party C of this Agreement as soon as possible through signing appropriate legal documents. 

  

	 	11.	Supplementary Provisions 

  

	 	11.1	This Agreement shall be governed by the laws of the People’s Republic of China. Any dispute that may arise during the performance of this Agreement shall be settled through amicable negotiations by all parties
involved. Where the negotiation fails, either party may submit the dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with the prevailing arbitration rules of such arbitration institution. The
place of arbitration is Beijing, the arbitration language is Chinese, the arbitral award is final and binding on all parties. Except for the part that is being submitted to arbitration, the rest of this Agreement shall remain in force. The validity
of this Article is not subject to the impact from the change, cancellation or termination of this Agreement. 

  

	 	11.2	Upon signing this Agreement, it shall supersede any prior undertakings, memorandums, agreements or any other documents previously made in respect of the subject matter of this Agreement. 

  
 15 

	 	11.3	All parties agree that this Agreement shall be implemented to the extent permitted by law. Where any of the terms of this Agreement or any part of a term is deemed illegal, invalid or unenforceable by any competent
authority or court have jurisdiction, such unlawful, invalid or unenforceable terms shall not be prejudice to any other terms of this Agreement or other parts of such terms. Other terms or other parts of such terms shall remain in full force and
each party shall use its best endeavors to amend such illegal, invalid or unenforceable terms for the purpose of achieving the original terms. 

  

	 	11.4	The appendixes shall be an inalienable part of this Agreement and shall have the same legal effect as other parts of this Agreement. 

 

	 	11.5	This Agreement is prepared in Chinese and shall be executed in quadruplicate. Each copy has the same legal effect. 

[The remainder of this page is intentionally left blank] 

  
 16 

 IN WITNESS WHEREOF, this Agreement has been executed by the Parties or their authorized representatives hereto as
of the date first above written. 
 Party A: Purong (Beijing) Information Technology Co., Ltd. (Seal) 

Authorized representative (signature): /s/ Sha Yunlong 

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

Party B: Puxin Education Technology Group Co., Ltd. (Seal) 

Authorized representative (signature): /s/ Sha Yunlong 

/s/ Seal of Puxin Education Technology Group Co., Ltd. 

 IN WITNESS WHEREOF, this Agreement has been executed by the Parties or their authorized representatives hereto as
of the date first above written. 
 Party C: 

ShaYunlong 
 Signature: /s/ Sha Yunlong 

Xiao Yun 
 Signature: /s/ Sha Yunlong 

Gao Liang 
 Signature: /s/ Sha Yunlong 

Li Gang 
 Signature: /s/ Sha Yunlong 

 IN WITNESS WHEREOF, this Agreement has been executed by the Parties or their authorized representatives hereto as
of the date first above written. 
 Party C: 

Tianjin Puxian Education and Technology Limited Partnership (Seal) 

Authorized representative (signature): /s/ Sha Yunlong 

/s/ Seal of Tianjin Puxian Education and Technology Limited Partnership 

 IN WITNESS WHEREOF, this Agreement has been executed by the Parties or their authorized representatives hereto as
of the date first above written. 
 Party C: 

Shanghai Trustbridge Investment Management Co., Ltd. (Seal) 

Authorized representative (signature): /s/ Li Shujun 
 /s/
Seal of Shanghai Trustbridge Investment Management Co., Ltd. 

 IN WITNESS WHEREOF, this Agreement has been executed by the Parties or their authorized representatives hereto as
of the date first above written. 
 Party C: 
 Ningbo
Meishan Bonded Port Area Zhimei Phase V Equity Investment Limited Partnership (Seal) 
 Authorized representative (signature): /s/ Wu Zhiguang

 /s/ Seal of Ningbo Meishan Bonded Port Area Zhimei Phase V Equity Investment Limited Partnership 

 Appendix I             List of
Party B’s subsidiaries: 
  

			
	 No.
	  	 Name

		
	 1.
	  	Shanghai Pukuan Education Technology Company Limited
		
	 2.
	  	Shanghai Jinshan Xin Kebiao Education and Training Center
		
	 3.
	  	Chongqing Puxin Education Technology Company Limited
		
	 4.
	  	Chongqing Puxin Wuyou Education Information Consulting Services Company Limited
		
	 5.
	  	Chongqing Shapingba Wuyou Education and Training School
		
	 6.
	  	Chongqing Beibei Wuyou Education and Training School
		
	 7.
	  	Chongqing Youfang Wuyou Education Information Consulting Services Company Limited
		
	 8.
	  	Chongqing Jiulongpo Wuyou Education and Training Company Limited
		
	 9.
	  	Beijing Xuezong Tianxia Education Technology Company Limited
		
	 10.
	  	Beijing Puxing Education Technology Company Limited
		
	 11.
	  	Beijing Puxian Education Technology Company Limited
		
	 12.
	  	Beijing Haidian Puxin Training School
		
	 13.
	  	Fuzhou Pude Education Technology Company Limited
		
	 14.
	  	Fuzhou Gulou Xueyoufang Training School
		
	 15.
	  	Hangzhou Puxin Technology Company Limited
		
	 16.
	  	Hangzhou Feiyue Foreign Language Training School
		
	 17.
	  	Hangzhou Yulan Professional School
		
	 18.
	  	Shenyang Milestone Education Information Consulting Company Limited
		
	 19.
	  	Dalian Puxin Education Technology Company Limited
		
	 20.
	  	Shenyang Huanggu Dongfang Shenhua Arts Training school
		
	 21.
	  	Shenyang Shenhe Dongfang Shenhua Education and Training Center
		
	 22.
	  	Shenyang Heping Dongfang Shenhua Education and Training Center
		
	 23.
	  	Shenyang Tiexi Dongfang Shenhua Education and Training Center
		
	 24.
	  	Shenyang Bingying Modern Foreign Language Training School
		
	 25.
	  	Shenyang Heping Bingying Education and Training Center
		
	 26.
	  	Shenyang Shenhe Bingying Education and Training Center
		
	 27.
	  	Shenyang Tiexi Bingying Education and Training Center
		
	 28.
	  	Dalian Dongfang Shenhua Education Consulting Company Limited

			
		
	 29.
	  	Dalian Shahekou Dongfang Shenhua Children’s Art Training School
		
	 30.
	  	Yancheng Tiantian Xiangshang Education and Training Company Limited
		
	 31.
	  	Beijing Milestone Education Consulting Company Limited
		
	 32.
	  	Taiyuan Puxin Culture Communication Company Limited
		
	 33.
	  	Taiyuan Meikang Training School
		
	 34.
	  	Taiyuan Puxinxue Culture and Arts Company Limited
		
	 35.
	  	Taiyuan Fubusi Education and Training School
		
	 36.
	  	Jinan Pude Education Technology Company Limited
		
	 37.
	  	Jinan Delin Education and Training School
		
	 38.
	  	Jinan Puxin Education Technology Company Limited
		
	 39.
	  	Shandong Daozhen English Professional School
		
	 40.
	  	Jinan Tianqiao Puxin Education and Training School
		
	 41.
	  	Nanjing Dreamtown Education Information Consulting Company Limited
		
	 42.
	  	Jinan Qifa Education Consulting Company Limited
		
	 43.
	  	Jinan Qiru Education and Training School
		
	 44.
	  	Beijing YESSAT Education Consulting Company Limited
		
	 45.
	  	Nanjing Diyou Investment Management Company Limited
		
	 46.
	  	Nanjing Chuangxin Professional School
		
	 47.
	  	Beijing Ruibao Tongqu Education Consulting Company Limited
		
	 48.
	  	Chengdu Qidi Wanjuan Education Consulting Company Limited
		
	 49.
	  	Chengdu Wuhou Shucai Education and Training School
		
	 50.
	  	Chengdu Jinniu Shucai School
		
	 51.
	  	Chengdu Jinjiang Shucai Training School
		
	 52.
	  	Shenyang Puxin Elite Education Consulting Company Limited
		
	 53.
	  	Tianjin Puxing Education Technology Company Limited
		
	 54.
	  	Beijing Shangxin Education Technology Company Limited
		
	 55.
	  	Beijing Houpu Education Company Limited
		
	 56.
	  	Beijing Quakers Education Consulting Company Limited
		
	 57.
	  	Nanjing Xinshangxin Education Consulting Company Limited
		
	 58.
	  	Shanghai Xinyinsi Immigration Services Company Limited
		
	 59.
	  	Beijing Pule Travel Company Limited
		
	 60.
	  	Beijing Pule Education Technology Company Limited

			
		
	 61.
	  	Shenzhen Daiweisi Information Consulting Company Limited
		
	 62.
	  	Shenzhen Futian Daiweisi English Training Center
		
	 63.
	  	Shenzhen Milestone Education Technology Company Limited
		
	 64.
	  	Beijing Puda Education Technology Company Limited
		
	 65.
	  	Shaoxing Puxin Education Information Consulting Company Limited
		
	 66.
	  	Shaoxing Yuecheng Lingxian Education and Training School
		
	 67.
	  	Yunnan Pude Education Information Consulting Company Limited
		
	 68.
	  	Luzhou Puxing Culture Communication Company Limited
		
	 69.
	  	Luzhou Hanlin Education Center
		
	 70.
	  	Xi’an Puxin Shanghe Cultural Development Company Limited
		
	 71.
	  	Xi’an Yangjian Culture Training Center
		
	 72.
	  	Xi’an Chang’an Yangjian Culture and Education Training Center
		
	 73.
	  	Guizhou Puxintian Education Technology Company Limited
		
	 74.
	  	Qingzhen Tiantian English Training School
		
	 75.
	  	BaiyunTiantian Foreign Language School
		
	 76.
	  	Guiyang Wudang Tiantian Foreign Language School
		
	 77.
	  	Guiyang Huaxi Tiantian Training School
		
	 78.
	  	Guiyang Yunyan Tiantian Education and Training School
		
	 79.
	  	Beijing Meikaida Education Technology Company Limited
		
	 80.
	  	Tianjin Xinsiyuan Culture Communication Company Limited
		
	 81.
	  	Tianjin Nankai Chengjia Training Center
		
	 82.
	  	Dalian Pude Education Consulting Company Limited
		
	 83.
	  	Dalian Xigang Tongfang Technology Culture Training School
		
	 84.
	  	Ningbo Puxin Education Technology Development Company Limited
		
	 85.
	  	Ningbo Yinzhou Puxin Weien Education and Training School
		
	 86.
	  	Ningbo Haishu Weien Education and Training School
		
	 87.
	  	Ningbo Haishu Xiaoxingxing Foreign Language Training School
		
	 88.
	  	Ningbo Jiangbei Weien Education and Training School
		
	 89.
	  	Ningbo Yinzhou Weien Education and Training School
		
	 90.
	  	Shenyang Pude Education Technology Company Limited
		
	 91.
	  	Shenyang Tiexi Zhongying Education and Training Center
		
	 92.
	  	Shenyang Huanggu Zhongying Children Education and Training School

			
		
	 93.
	  	Jilin Puxin Educational Technology Company Limited
		
	 94.
	  	Jilin Chuanying Shiji Dongfang Training School
		
	 95.
	  	Luoyang Pucai Education Technology Company Limited
		
	 96.
	  	Luoyang Luolong Rainbow Education and Training School
		
	 97.
	  	Luoyang Jianxi Rainbow Education and Training School
		
	 98.
	  	Luoyang Gaoxin Rainbow Education and Training School
		
	 99.
	  	Guangzhou Yingxun Lixiang Education Information Consulting Company Limited
		
	 100.
	  	Guangzhou Yuexiu Lixiang Training Center
		
	 101.
	  	Guangzhou Yingxun English Training Center
		
	 102.
	  	ZMN International Education Consulting (Beijing) Company Limited
		
	 103.
	  	Beijing Haidian ZMN Education and Training School
		
	 104.
	  	Henan ZMN Education Consulting Company Limited
		
	 105.
	  	Zhengzhou Jinshui Wude Paike Foreign Language Training Center
		
	 106.
	  	Kunming ZMN Education Information Consulting Company Limited
		
	 107.
	  	Shaanxi ZMN Culture Communication Company Limited
		
	 108.
	  	ZMN Culture Communication (Shanghai) Company Limited
		
	 109.
	  	ZMN Education Consulting (Dalian) Company Limited
		
	 110.
	  	Dalian Shahekou ZMN Education and Training School
		
	 111.
	  	Qingdao ZMN Education Consulting Company Limited
		
	 112.
	  	Qingdao ZMN Foreign Language Training School
		
	 113.
	  	Chengdu ZMN Culture Communication Company Limited
		
	 114.
	  	Wuhan Wude Paike Culture Communication Company Limited
		
	 115.
	  	Taiyuan ZMN Education Consulting Company Limited
		
	 116.
	  	Beijing Shaonian Technology Company Limited
		
	 117.
	  	Shenyang ZMN Education Consulting Company Limited
		
	 118.
	  	Hangzhou ZMN Education Consulting Company Limited
		
	 119.
	  	Chongqing ZMN Education Information Consulting Services Company Limited
		
	 120.
	  	Shanghai Global Future Education Technology Holdings Limited
		
	 121.
	  	Wuhan Tianxia Elite Education Consulting Company Limited
		
	 122.
	  	Wuhan Global English Training School
		
	 123.
	  	Nanjing Global Education and Training School
		
	 124.
	  	Suzhou Yisi Future Education Consulting Company Limited

			
		
	 125.
	  	Suzhou Global Elite Training Center
		
	 126.
	  	Nantong Chongchuan Global Education Training Center
		
	 127.
	  	Wuxi Global Future Education Consulting Company Limited
		
	 128.
	  	Wuxi Global Education Training Center
		
	 129.
	  	Ningbo Haishu Elite Global Education Training Center
		
	 130.
	  	Global Future (Tianjin) Education Technology Company Limited
		
	 131.
	  	Ningbo Yinzhou Elite Global Education Training Center
		
	 132.
	  	Beijing Global Zhuoer Elite Culture Communication Company Limited
		
	 133.
	  	Wuhan Global English Training School
		
	 134.
	  	Beijing Chaoyang Global Education Training Center
		
	 135.
	  	Beijing Haidian Global Education Training Center
		
	 136.
	  	Shanghai Yangpu Global Education Training Center
		
	 137.
	  	Tianjin Heping Global Education Training Center
		
	 138.
	  	Shenzhen Global Education Training Center
		
	 139.
	  	Shenyang Global Education Training Center
		
	 140.
	  	Guangzhou Global Future Education Information Consulting Company Limited
		
	 141.
	  	Guangzhou Yuexiu Global Elite Training Center
		
	 142.
	  	Changchun Hafu Cultural Exchange Communication Company Limited
		
	 143.
	  	Changchun Chaoyang Global Education and Training School
		
	 144.
	  	Chengdu Global English School
		
	 145.
	  	Xi’an Yanta AoBo Foreign Language Training School
		
	 146.
	  	Changsha Furong Global Education Training Center
		
	 147.
	  	Global Wuhu (Beijing) Overseas Study Consulting Company Limited
		
	 148.
	  	Beijing Global World-wide Travel Company Limited
		
	 149.
	  	Nantong Qiantu Yisi Consulting Company Limited
		
	 150.
	  	Pingyin County Daozhen Education and Training School
		
	 151.
	  	Tianjin Beichen Shengjia Training School

 Appendix II Service Content, Calculation and Payment Methods of Service Expenses 

 

	(I)	List of service content 

  

	 	1.	To provide opinions and suggestions on asset, business operation and negotiation, signing and fulfilment of significant contracts; 

  

	 	2.	To provide services relating to short-term and medium-term market development and market plan; 

  

	 	3.	To provide industrial market investigation, study and consulting service; 

  

	 	4.	To provide opinions and suggestions on disposing of creditor’s rights and debts; 

  

	 	5.	To provide opinions and suggestions on M&A; 

  

	 	6.	To provide human resources management service and pre-job training, on-site skill training; 

 

	 	7.	To provide the authorized use of various intellectual property rights like software, trademark, domain name and technological secret; 

 

	 	8.	To provide the R&D of educational software, educational courseware and on-line lessons and supporting services; 

 

	 	9.	To provide consulting and training services on opening school and training courses; 

  

	 	10.	To provide services on technological development, technological transfer and technological consultancy; 

  

	 	11.	To provide the management and maintenance of management and service systems like human resources information management system, payment management system and internal informationization management system;

  

	 	12.	To provide development and upgrading of website, and daily maintenance, monitoring, debugging and troubleshooting of computer network equipment; 

 

	 	13.	To provide technological consultancy and answer to the technological questions on network equipment, technological product and software proposed by the service recipients; 

 

	 	14.	To provide public relations service; 

  

	 	15.	To provide selling service for self-made products; 

  

	 	16.	To provide daily maintenance for office equipment; 

  

	 	17.	To seek and select appropriate service provider as the third party for the service recipients; 

  

	 	18.	To provide daily management of service provider as the third party for the service recipients; 

  

	 	19.	To provide the service recipients with consultancy service regarding overseas market; and/or 

	 	20.	To provide other services that are negotiated and confirmed from time to time by Party A and the service recipients based on the business needs of the service recipients and Party A’s capability of providing
services. 

  

	(II)	Calculation and Payment Methods of Service Expenses 

 1. The amount of service expenses are the
balance of the total income of the service recipients minus cost, taxes and other expenses that are reserved or withdrawn according to laws and regulations. The specific amount shall be determined by Party A by referring to the following factors:

  

	 	(1)	Technological difficulties and complexity of services; 

  

	 	(2)	The resources input by Party A and the time spent by Party A’s staff for specific services; 

  

	 	(3)	Specific content and commercial value of services; 

  

	 	(4)	Market reference price of services of the same category; 

  

	 	(5)	Operating conditions of the service recipients. 

 2. Party A shall summarize the service
expenses on time (the specific period shall be determined by Party A, and the service recipients shall agree with such decision) and notify the service recipients by regularly sending the account of service expenses to them. The service recipients
shall remit the said service expenses to the bank account designated by Party A within 10 work days after receiving the said notice. The service recipients shall fax or mail the copy of remittance voucher to Party A within 10 workdays after the
remittance. 
 3. Besides the service expenses, the service recipients shall bear all reasonable expenses, advance payment and expenses
actually paid (“expenditures”) in any form that are ascribable to Party A, arising from, or relating to Party A’s fulfilment or provision of services, and shall compensate Party A in respect of these expenses. 

4. The service recipients shall pay the service expenses and the expenditures to be made up to Party A according to this Agreement and the
supplementary agreement signed from time to time. Party A shall timely issue the invoices of corresponding service expenses and all the expenditures arising during the relevant period to the service recipients. All the payments shall be remitted to
the bank account designated by Party A via remittance or other methods agreed by both parties. Both parties agree that Party A may also inform the service recipients of changing the said payment instructions from time to time.

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