Document:

Exhibit  10.1

 

 

VIE Termination
Agreement

 

This VIE
Termination Agreement (this “Agreement”) is entered into by and among the following parties on December 28,
2020 in Beijing, the People’s Republic of China (the “PRC”):

 

	(1)	Tianjin
    Studyvip Education Co., Limited (“Party A”)
	 	Address: Unit 15,
    Rm. 112, Building C, Comprehensive Office Service Area, 
	 	Tianjin Nangang
    Industrial Zone, Tianjin
	 	Legal Representative:
    LIU Tongbo

 

	(2)	Tianjin Shangde Online Education Technology Co.,
    Ltd. (“Party B”)
	 	Address: 2403, Dongfang Mingdi, East Side of Binhe Road, Tianjin
    Free 
	 	 
	 	Trade Zone (Central Business District)
	 	Legal Representative: LIU Tongbo

 

	(3)	The parties listed in the Appendix
    I (“Party C”)

 

The above
parties are hereinafter referred to individually as a “Party” and collectively as the “Parties”.

 

WHEREAS:

 

		1.	Party
                                         A and Party B entered into the Exclusive Technical Consultation and Service Agreement
                                         in 2018;

 

		2.	Party
                                         A entered in to the Business Operation Agreement, the Option Agreement and the Equity
                                         Interest Pledge Agreement with Party B and Party C in 2018;

 

		3.	Party
                                         A and Party C signed the Irrevocable Powers of Attorney separately in 2018;

 

		4.	Party
                                         C’s spouse signed the Spouse Consents in 2018;

 

		5.	Now the
                                         Parties intent to terminate all of their rights and obligations under the Exclusive Technical
                                         Consultation and Service Agreement, the Business Operation Agreement, the Option Agreement,
                                         the Equity Interest Pledge Agreement, the Irrevocable Powers of Attorney and the Spouse
                                         Consents (collectively, the “Control Agreements”);

 

		6.	Terms
                                         used herein and not otherwise defined shall have the meanings set forth in the Control
                                         Agreements.

 

NOW, THEREFORE,
the Parties agree as follows:

 

		1.	Termination
                                         of Rights and Obligations under the Control Agreements

 

		1.1	The
                                         Parties hereby irrevocably agree that the Control Agreements and all

 

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rights
and obligations thereunder shall terminate upon the effectiveness of this Agreement.

 

		1.2	The
                                         Parties agree that, upon termination of any of the Control Agreements, the rights and
                                         obligations of relevant parties thereunder shall terminate simultaneously. The rights
                                         and obligations of the Parties to be terminated include, without limitation to all of
                                         the rights and obligations under the Exclusive Technical Consultation and Service Agreement,
                                         all of the rights and obligations under the Business Operation Agreement, Party A’s
                                         options under the Option Agreement, and the authorizations granted by Party C under the
                                         Irrevocable Power of Attorney.

 

		1.3	Notwithstanding
                                         the above Sections 1.1 and 1.2, provisions in the Control Agreements relating to the
                                         confidentiality obligations, governing law and dispute resolution (if applicable) shall
                                         survive the termination.

 

		1.4	Each
                                         party irrevocably and unconditionally releases the other parties hereto from any disputes,
                                         claims, demands, rights, obligations, liabilities, actions, contracts or causes of action
                                         of any kind of nature, that it had, has or may have in the future, directly or indirectly,
                                         relating to or arising out of all or any of the Control Agreements.

 

		1.5	Without
                                         prejudice to the generality of Sections 1.2 and 1.4 above, upon effectiveness of this
                                         Agreement, each Party releases the other parties hereto and their present and former
                                         directors, officers, employees, counsel and agents, their Affiliates and their respective
                                         successors and assigns from any promises, debts, actions, demands, obligations and liabilities
                                         of every kind or nature, including claims and causes of action at law and based on equitable
                                         principles, whether asserted or unasserted, absolute or contingent, known or unknown,
                                         that had, has or may have in the future by such Party or any of its heirs, successors,
                                         assigns or executors of estate, relating to or arising out of all or any of the Control
                                         Agreements.

 

		2.	Representations
                                         and Warranties

 

Each
Party hereby jointly and separately represents and warrants to the other parties on the date of this Agreement:

 

		2.1	This
                                         Agreement, upon execution, shall constitute its legal, valid and binding obligations,
                                         enforceable against it in accordance with its terms;

 

		2.2	Neither
                                         the execution nor the performance by it of this Agreement will conflict, restrict or
                                         violate any laws, regulations or agreements binding upon or having effect on it;

 

		3.	Liability
                                         of Breach

 

If
a Party breaches this Agreement and thus all or part of this Agreement cannot be performed, it shall bear the liabilities for
breach and indemnify the other parties for the losses suffered by such parties (including litigation cost and

 

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attorneys'
fees arising therefrom); upon breach of this Agreement, each Party shall bear corresponding liabilities based on actual circumstances.

 

		4.	Notice

 

		4.1	Any
                                         notice, request, demand and other correspondence made as required by or in accordance
                                         with this Agreement shall be made in writing and delivered to the relevant parties.

 

		4.2	The
                                         above notice or other correspondences shall be deemed to have been delivered (i) upon
                                         transmission, if by facsimile or telex, (ii) upon delivered to the recipient if by person,
                                         and (iii) five (5) days after posting if by mail.

 

		5.	Confidentiality

 

The
Parties acknowledge that the existence and terms of this Agreement and any oral or written information exchanged between the Parties
in connection with this Agreement are confidential information. Each party shall keep all such information confidential and shall
not disclose any relevant information to any third parties without the written consent of the other parties, except that such
information (a) is already known to the public (other than through the unauthorized disclosure by the receiving party to the public);
or (b) is required to be disclosed by applicable law or provisions; or (c) that is required to be disclosed by any Party to its
legal or financial advisors in connection with the transactions contemplated hereby, provided, however, that such legal or financial
advisors shall comply with the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential
information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by
such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this
Agreement for any reason.

 

		6.	Governing
                                         Law and Dispute Resolution

 

		6.1	The
                                         execution, effectiveness, construction, performance, amendment and termination of and
                                         dispute resolution of this Agreement shall be governed by the laws of the PRC.

 

		6.2	Any
                                         dispute arising out of or relating to this Agreement shall be settled by the Parties
                                         through consultation. If the Parties cannot reach an agreement within 30 days after the
                                         dispute arises, the dispute shall be submitted to the China International Economic and
                                         Trade Arbitration Commission for arbitration in accordance with the arbitration rules
                                         of the committee in effect at that time in Beijing, and the arbitration award shall be
                                         final and binding on all Parties.

 

		6.3	If
                                         any dispute occurs due to the interpretation and performance of this Agreement, or any
                                         dispute is undergoing arbitration, the Parties hereto shall continue to exercise their
                                         other rights under this Agreement and perform

 

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their
respective rights under this Agreement, except for the matters in dispute.

 

		7.	Miscellaneous

 

		7.1	This
                                         Agreement will enter into force upon execution by each of the Parties.

 

		7.2	This
                                         Agreement is written in Chinese.

 

		7.3	This
                                         Agreement may be modified and supplemented by the Parties through written agreements.
                                         The modification and/or supplementation to this Agreement constitute an integral part
                                         of this Agreement and have the same legal effect as this Agreement.

 

		7.4	The
                                         invalidity of any provision under this Agreement shall not affect the legal validity
                                         of other provisions hereunder.

 

		7.5	The
                                         Appendix hereto is an integral part of this Agreement and has the same legal effect as
                                         this Agreement.

 

[No
text below]

 

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IN
WITNESS WHEREOF, the Parties have or caused their authorized representatives to sign this VIE Termination Agreement on the date
first written above. This VIE Termination Agreement shall take effect immediately after it has been signed.

 

	Party
        A:

         

        Tianjin
        Studyvip Education Co., Limited (Company Seal)

         

        By:
     /s/ LIU Tongbo          

        

        Name:
        LIU Tongbo

        

        Title:
        Legal Representative

         

        Party
        B:

         

        Tianjin
        Shangde Online Education Technology Co., Ltd. (Company Seal)

         

        By:       /s/
        GAO Jing            

        

        Name:
        GAO Jing

        

        Title:
        Legal Representative

         

        Party
        C:

         

        YIN
        Jianhong

         

        Signature:        /s/
        Yin Jianhong           

         

        LIU
        Tongbo

         

        Signature:       /s/
        Liu Tongbo              

         

     

     

    

Appendix
I Party C

 

	No.	Name	ID
    Number	Capital
    Contribution (RMB)	Shareholding
    Percentage
	1	YIN
    Jianhong		4,750,000	95%
	2	LIU
    Tongbo		250,000	5%
	Total	5,000,000	100%Exhibit  10.2

 

 

 

 

Exclusive
Technical Consultation and Service Agreement

 

This Exclusive Technical Consultation
and Service Agreement (hereinafter referred to as “Agreement”) was made as of the 28th day of December, 2020
in Beijing, the People’s Republic of China (“PRC”) by and among the parties (hereinafter referred to
as “Parties”) as follows 

 

Party A: Wuhan Studyvip Online
Education Co., Limited

Registered Address: No. 1,
Floor 3, Building No. 3, Modern Science & Technology Park, Guannanyuan 1st Road, East Lake High-Tech Development Zone,
Wuhan, China

Legal Representative: LIU Tongbo

 

Party
B: Tianjin Shangde Online Education Technology Co., Ltd. 

Registered Address: 2403, Dongfang
Mingdi, East Side of Binhe Road, Tianjin Free Trade Zone (Central Business District), Tianjin, China

Legal Representative: GAO Jing

 

 

Party
B’s Subsidiaries: Any companies, schools and related institutions (hereinafter referred to as the “Party B’s
Subsidiaries”) to be updated from time to time according to this Agreement in which 50% shares or investment interests
are held by Party B.

 

Whereas:

 

		1.	Party A
                                         is a wholly foreign-owned enterprise legally incorporated and validly existing within
                                         the territory of the PRC.

 

		2.	Party B
                                         is a limited liability company incorporated in the PRC.

 

		3.	Party A
                                         agrees to provide technical consultation and related services to Party B and Party B’s
                                         Subsidiaries, and Party B and Party B’s Subsidiaries agree to accept such technical
                                         consultation and related services provided by Party A.

 

     

     

    

Therefore,
this Agreement is entered into by and among the Parties through friendly consultation based on the principle of equality and mutual
benefit subject to the terms and conditions as follows:

 

		1.	Technical
                                         Consultation and Services: Sole and Exclusive Rights and Interests 

 

		1.1	Within
                                         the term of this Agreement, Party A agrees that it shall, as the exclusive technical
                                         consultation and services provider of Party B and Party B’s Subsidiaries, provide
                                         Party B and Party B’s Subsidiaries with the relevant technical consultation and
                                         services (See Annex I for specific content) according to the terms of this Agreement.

 

		1.2	Party
                                         B and Party B’s Subsidiaries agree to accept the technical consultation and services
                                         provided by Party A within the term of this Agreement. In consideration of the value
                                         of the technical consultation and services provided by Party A and the good cooperative
                                         relationship among the Parties hereto, Party B and Party B’s Subsidiaries further
                                         agree that, unless they obtain the prior written consent of Party A, they shall not accept
                                         any technical consultation and services provided by any third party in respect of the
                                         business scope involved herein within the term of this Agreement.

 

		1.3	For
                                         all rights, titles, interests and intellectual property rights (including but not limited
                                         to any copyrights, patents, technical know-how and business secrets) arising out of the
                                         performance of this Agreement, whether developed by Party A or developed by Party B and
                                         Party B’s Subsidiaries based on Party A’s intellectual property rights or
                                         developed by Party A based on any intellectual property rights of Party B and Party B’s
                                         Subsidiaries, Party A shall enjoy any sole and exclusive rights and interests therein,
                                         and Party B and Party B’s Subsidiaries shall not assert any rights, titles, interests
                                         and intellectual property rights to Party A.

 

		1.4	Provided
                                         that, if developed by Party A based on any intellectual property rights

 

     

     

    

of
Party B and Party B’s Subsidiaries, Party B and Party B’s Subsidiaries shall ensure that such intellectual property
rights are free from any defects, otherwise, any losses caused to Party A shall be borne by Party B and Party B’s Subsidiaries.
If Party A bear the compensation liability to any third party therefor, Party A shall have the right to recover all its losses
from Party B and Party B’s Subsidiaries after Party A makes such compensation.

 

		1.5	In
                                         consideration of the good cooperative relationship among the Parties hereto, Party B
                                         and Party B’s Subsidiaries undertake that, if they are intended to carry out any
                                         business cooperation with any other enterprises, they shall obtain the consent of Party
                                         A, and Party A or its affiliates shall have the priority of cooperation under the same
                                         conditions.

 

		2.	Calculation
                                         and Payment of Technical Consultation and Service Fees (hereinafter referred to as
                                         “Service Fees”)

 

		2.1	The
                                         Parties hereto agree that any Service Fees under this Agreement shall be determined and
                                         paid in such way as listed in Annex II hereto.

 

		2.2	If
                                         Party B and Party B’s Subsidiaries fail to pay any Service Fees and other expenses
                                         according to the provisions of this Agreement, Party B and Party B’s Subsidiaries
                                         shall separately pay to Party A a default fine on the basis of 0.05% of the amount owed
                                         per day.

 

		2.3	Party
                                         A shall have the right to assign its employees or certified public accountants of China
                                         or other countries (hereinafter referred to as “Party A’s Authorized Representative”)
                                         at its own expense to check the accounts of Party B and Party B’s Subsidiaries
                                         so as to audit the calculation method and amount of Service Fees. Therefore, Party B
                                         and Party B’s Subsidiaries shall provide Party A’s Authorized Representative
                                         with any documents, accounts, records and data required by Party A’s Authorized
                                         Representative so that Party A’s Authorized Representative can audit the accounts
                                         of Party B and Party B’s

 

     

     

    

Subsidiaries
and determine the amount of Service Fees. Unless there are any gross errors, the amount of Service Fees shall be subject to the
amount determined by Party A’s Authorized Representative.

 

		2.4	Unless
                                         the Parties hereto reach an agreement through further consultation, any Service Fees
                                         paid by Party B and Party B’s Subsidiaries to Party A according to this Agreement
                                         shall not be deducted or offset. Party B and Party B’s Subsidiaries shall solely
                                         be responsible for any relevant expenses (such as bank charges) incurred from the payment
                                         of Service Fees.

 

		2.5	In
                                         addition, Party B and Party B’s Subsidiaries shall pay to Party A any actual expenses
                                         incurred from the provision by Party A of its technical consultation and service under
                                         this Agreement while paying the Service Fees, including but not limited to any traveling
                                         expenses, transportation fees, printing expenses and postage.

 

		2.6	The
                                         Parties hereto agree that all economic losses arising out of the performance of this
                                         Agreement shall be borne jointly by the Parties hereto.

 

		3.	Representations
                                         and Warranties

 

		3.1	Party
                                         A hereby represents and warrants as follows:

 

		3.1.1	Party
                                         A is a company legally incorporated and validly existing under the laws of the PRC;

 

		3.1.2	Party
                                         A shall perform this Agreement within its corporate power and business scope, has obtained
                                         any necessary corporate authorizations and consents and approvals from any third party
                                         and government departments and has not breached any legal or contractual restrictions
                                         that are binding or influential on it; and

 

		3.1.3	This
                                         Agreement shall constitute a legal, effective, binding and enforceable legal document
                                         for Party A once signed.

 

		3.2	Party
                                         B and Party B’s Subsidiaries hereby represent and warrant as follows:

 

     

     

    

		3.2.1	Party
                                         B and Party B’s Subsidiaries are legal persons legally incorporated and validly
                                         existing under the laws of the PRC;

 

		3.2.2	Party
                                         B and Party B’s Subsidiaries shall sign and perform this Agreement within their
                                         corporate power and business scope, have obtained any necessary corporate authorizations
                                         and consents and approvals from any third party or government departments and have not
                                         breached any legal or contractual restrictions that are binding or influential on it;
                                         and

 

		3.2.3	This
                                         Agreement shall constitute a legal, effective, binding and enforceable legal document
                                         for Party B and Party B’s Subsidiaries once signed.

 

		4.	Confidentiality

 

		4.1	The
                                         Parties agree that they shall try to take all reasonable security measures to keep in
                                         confidence any confidential data and information (hereinafter referred to as “Confidential
                                         Information”, the providing party of such data and information shall clearly notify
                                         in writing that such data and information shall be the Confidential Information when
                                         providing them) known or accessed by them due to the signing and performance of this
                                         Agreement. Without the prior written consent of the Confidential Information provider,
                                         such Confidential Information shall not be disclosed, provided or transferred to any
                                         third party (including any merger of the receiving party of such Confidential Information
                                         with or into any third party, and any direct or indirect control thereof by any third
                                         party). Once this Agreement is terminated, Party A and Party B and Party B’s Subsidiaries
                                         shall return any documents, data or software containing any Confidential Information
                                         to the original owner or providing party of such Confidential Information or destroy
                                         them with the consent of the original owner or provider, including removing any Confidential
                                         Information from any

 

     

     

    

related
memory devices and shall not continue to use these Confidential Information. Party A and Party B and Party B’s Subsidiaries
shall take any necessary measures to disclose any Confidential Information only to any staff members, agents or professional advisors
of Party B and Party B’s Subsidiaries who need to know such Confidential Information and to cause such staff members, agents
or professional advisors of Party B and Party B’s Subsidiaries to comply with any confidentiality obligations under this
Agreement. Party A, Party B and Party B’s Subsidiaries and such staff members, agents or professional advisors of Party
B and Party B’s Subsidiaries shall sign a specific non-disclosure agreement.

 

		4.2	No
                                         restrictions mentioned above shall apply to:

 

		4.2.1.	any
                                         information that has become generally available to the public at the time of disclosure;

 

		4.2.2.	any information that has
become generally available to the public after disclosure through no fault of the receiving party of Confidential Information;

 

		4.2.3.	any
                                         information that can be proved by the receiving party of Confidential Information to
                                         have been in the possession of the receiving party before disclosure and not to be directly
                                         or indirectly received from the providing party of Confidential Information; and

 

		4.2.4.	any
                                         information required by law to be disclosed by the receiving party of Confidential Information
                                         to the relevant government departments, stock exchange and other institutions, or any
                                         of the above Confidential Information disclosed by the receiving party of Confidential
                                         Information to its direct legal advisors and financial consultants due to its normal
                                         business needs.

 

		4.3	The
                                         Parties hereto agree that, whether this Agreement is modified, canceled or terminated,
                                         these provisions hereof shall remain in force.

 

     

     

    

		5.	Indemnity

 

		5.1	Except
                                         as otherwise stipulated herein, if any Party fails to fully perform or suspends the performance
                                         of its obligations under this Agreement, and such party fails to correct the above acts
                                         within Ten (10) days from receipt of a notice from the other party or makes any untrue
                                         representations and warranties, such party shall be deemed to have breached this Agreement.

 

		5.2	If
                                         any Party hereto breaches this Agreement or any representations and warranties made by
                                         such party in this Agreement, the non-breaching party may notify in writing the breaching
                                         party of correcting such breach within Ten (10) days from receipt of a notice, taking
                                         appropriate measures to effectively and promptly avoid any damage and continuing to perform
                                         this Agreement. In case of any damage arising out of such breach, the breaching party
                                         shall make compensation to the non-breaching party to enable the non-breaching party
                                         to obtain all rights and interests that should have been obtained during the performance
                                         of this Agreement.

 

		5.3	If
                                         any breach of this Agreement by any Party hereto renders the other party to bear any
                                         costs and liabilities or suffer any losses (including but not limited to any loss of
                                         profits), the breaching party shall make compensation to the non-breaching party in respect
                                         of any of the above costs, liabilities or losses (including but not limited to any interest
                                         payment or loss and lawyer’s fees arising out of such breach). The total compensatory
                                         payment paid by the breaching party to the non-breaching party shall be the same as the
                                         losses arising out of such breach, and the above compensatory payment shall include any
                                         interests that should have been obtained by the non-breaching party in the event that
                                         the Parties hereto normally perform this Agreement, provided that such compensatory payment
                                         shall not exceed any losses reasonably expected by the Parties hereto at the time of
                                         the conclusion of this Agreement that may

 

     

     

    

be
caused by such breach of this Agreement.

 

		5.4	Party
                                         B and Party B’s Subsidiaries shall bear full responsibility for any claims made
                                         by any third party arising out of any failure by Party B and Party B’s Subsidiaries
                                         to carry on their business according to Party A’s instructions or any improper
                                         use of Party A’s intellectual property rights or any improper technical operation.
                                         If Party B and Party B’s Subsidiaries find that any third party uses any of Party
                                         A’s intellectual property rights without the legal authorization, Party B and Party
                                         B’s Subsidiaries shall immediately notify Party A and cooperate with Party A in
                                         taking any actions.

 

		5.5	If
                                         both of the Parties hereto breach this Agreement, the respective amount of compensation
                                         payable by the Parties hereto shall be determined according to the degree of their respective
                                         breach.

 

		6.	Entry
                                         into Force, Performance and Term 

 

		6.1	This
                                         Agreement shall be signed on the date first above written and become effective at the
                                         same time.

 

		6.2	This
                                         Agreement is written in Chinese and is executed in Four (4) copies.

 

		6.3	Unless
                                         Party A cancels this Agreement in advance, the term of this Agreement shall be terminated
                                         upon dissolution of both of Party B and Party B’s Subsidiaries in accordance with
                                         the laws of the PRC. Upon Party A’s request prior to the expiration of this Agreement,
                                         the Parties hereto shall either extend the term of this Agreement at Party A’s
                                         request so as to continue to perform this Agreement or sign a separate exclusive technical
                                         consultation and service agreement at Party A’s request.

 

		7.	Termination

 

		7.1	Unless
                                         renewed according to the relevant provisions hereof, this Agreement shall be terminated
                                         on the expiry date of the term of this Agreement.

 

     

     

    

		7.2	The Parties hereto may
terminate this Agreement upon consensus through consultation. Party B and Party B’s Subsidiaries shall not terminate this
Agreement within the term of this Agreement without the written consent of Party A. Party A shall have the right to terminate
this Agreement at any time by giving a written notice to Party B, Party B's Subsidiaries and shareholders Thirty (30) days in
advance.

 

		7.3	Any rights and obligations
of the Parties hereto under the Articles 4 and 5 hereof shall survive the termination of this Agreement.

 

		8.	Dispute
                                         Resolution

 

		8.1	In case of any disputes
among the Parties arising out of the construction and performance of any provisions of this Agreement, the Parties shall resolve
such disputes through consultation in good faith. If such disputes cannot be resolved through consultation, any Party may submit
such disputes to China International Economic and Trade Arbitration Commission for resolution by arbitration in accordance with
the existing arbitration rules of such Commission in force. The place of arbitration shall be Beijing, and the language to be
used in the arbitration proceedings shall be Chinese. Any arbitral award shall be final and binding upon the Parties. No provisions
of this Article shall be affected by any termination or cancellation of this Agreement.

 

		8.2	Except for any matters
disputed by the Parties hereto, the Parties hereto shall continue to perform their respective obligations under this Agreement
based on the principle of good faith.

 

		9.	Force
                                         Majeure

 

		9.1	“Force
                                         Majeure Events” mean any events beyond the reasonable control of one party
                                         that are unavoidable by the affected party with reasonable care, including but not limited
                                         to any acts of government, natural force, fire,

 

     

     

    

explosion,
storm, flood, earthquake, tide, lightning or war, provided that any credit, capital or financing shortage shall not be deemed
to be the event beyond the reasonable control of one party. The party affected by any Force Majeure Events (hereinafter referred
to as “Affected Party”) shall be exempted from its responsibility in whole or in part according to the effects
of such Force Majeure Events on this Agreement, and the Affected Party who seeks exemption from its responsibility for the performance
of this Agreement due to such Force Majeure Events shall notify the other party of such Force Majeure Events not later than Ten
(10) days after occurrence of such Force Majeure Events so that the Parties hereto negotiate about the amendment to this Agreement
according to the effects of such Force Majeure Events and exempt in whole or in part the Affected Party from its obligations under
this Agreement.

 

		9.2	The
                                         Affected Party shall take appropriate measures to reduce or eliminate the effects of
                                         such Force Majeure Events and shall try to restore the performance of its obligations
                                         delayed or hindered by such Force Majeure Events. Once such Force Majeure Events are
                                         eliminated, the Parties hereto agree that they shall use their best efforts to restore
                                         the performance of their rights and obligations under this Agreement.

 

		10.	Notices

 

Any notices
sent by the Parties for the performance of their rights and obligations under this Agreement shall be made in writing and be sent
to the following addresses of one or all of the Parties hereto by personal delivery, registered mail, postage prepaid mail, recognized
express service or facsimile transmission:

 

Party
A

 

     

     

    

Address: Building No. 6, Chaolai
Science and Technology Park, Laiguangying, Chaoyang District, Beijing, China

Tel.: 

Attn.: LIU
Tongbo

 

 

Party B and Party B's Subsidiaries

 

Address: 3-304, Buildings
1-3, Dangdai Huaxia Centre For Entrepreneurship, No. 20, Nanguanyuan 1st Road, New Technology Development Zone, Wuhan (China (Hubei)
Pilot Free Trade Zone Wuhan Area), China

Tel.: 

Attn.: SHENG Heqiang

 

		11.	Assignment

 

Unless
any Party hereto obtains the prior written consent of the other party, such party shall not assign to any third party its
rights or obligations under this Agreement except that Party A assigns its obligations under this Agreement to its
affiliates. For the purpose as set forth in this Agreement, the aforesaid “affiliates” mean any enterprises
controlled by Party A, controlling Party A or under common control of any third party with Party A. For the purpose as set
forth in this Article, “control” means any possession by an enterprise of its influence power to directly or
indirectly decide on and/or control the operating management of another enterprise, whether such influence power is formed by
holding any shares of the controlled enterprise or formed by any contractual arrangement with the controlled
enterprise.

 

		12.	Newly
                                         Added Party B’s Subsidiaries 

 

In case
of any newly added Party B’s Subsidiary at any time after the effective date of this Agreement, Party B shall urge such
newly added Party B’s Subsidiary to sign a letter of acceptance of rights and obligations in such form and substance as
shown in Annex III hereto and any other legal documents permitted or required by the laws of the PRC so as to enable such newly
added Party B’s Subsidiary to join this Agreement and fully accept any obligations and rights to be assumed and enjoyed
by Party B’s Subsidiaries under this Agreement. From the execution date of such letter of acceptance of rights and obligations
and any other legal documents permitted or required by the laws of the PRC, such newly added Party B’s Subsidiaries shall
be deemed to be a signatory to this Agreement. Any other Parties hereto hereby agree to and fully accept the foregoing arrangement.

 

     

     

    

		13.	Severability
                                         

 

The Parties
hereby acknowledge that this Agreement shall be a fair and reasonable agreement reached by the Parties hereto on the basis of
equality and mutual benefit. If any provisions of this Agreement are invalid or unenforceable due to any inconsistencies between
such provisions and the relevant laws, such provisions shall be invalid or unenforceable only to the extent of jurisdiction of
the relevant laws and shall not affect the legal effect of any other provisions of this Agreement.

 

		14.	Amendments
                                         and Supplements

 

The Parties
hereto shall make in writing any amendments and supplements to this Agreement. Any amendment and supplementary agreements duly
signed by the Parties in relation to this Agreement shall form an integral part of this Agreement and be equally authentic as
this Agreement.

 

		15.	Governing
                                         Law

 

This Agreement
shall be governed by and construed in accordance with the laws of the PRC.

 

		16.	Entire
                                         Agreement

 

Except for
any written amendments, supplements or modifications to this Agreement after the signing of this Agreement, this Agreement shall
constitute an entire agreement among the Parties hereto in respect of the subject matter of this Agreement and supersede all prior
oral and written negotiations, representations and agreements among the Parties in respect of the subject matter of this Agreement.

 

In witness
whereof, the Parties hereto have caused this Agreement to be executed by their authorized representative as of the date first
above written.

 

[The remainder
of this page is intentionally left blank]

 

     

     

    

[This page
is the signature page to the Exclusive Technical Consultation and Service Agreement]

 

Party
A: (Seal)       /s/ LIU Tongbo        

Legal or
Authorized Representative: 

 

Party B:
(Seal)      /s/ LIU Tongbo        

Legal or
Authorized Representative:

 

     

     

    

Annex
I List of Technical Consultation and Services

 

		1.	Provide
                                         the development and research services.

 

		2.	Provide
                                         website design and design, installation, commissioning and maintenance services of computer
                                         network systems.

 

		3.	Provide
                                         database support and software services.

 

		4.	Provide
                                         economic information consultation, project investment consultation, scientific and technological
                                         information consultation, enterprise management consultation and other consultation services.

 

		5.	Provide
                                         pre-job training and in-service training services.

 

		6.	Provide
                                         technical development, consultation and technology transfer services.

 

		7.	Provide
                                         public relations services.

 

		8.	Provide
                                         market survey and research services.

 

		9.	Provide
                                         the services of developing medium and short term market development plans and market
                                         planning service.

 

		10.	Provide
                                         technical services.

 

     

     

    

Annex
II Calculation and Payment Methods of Service Fees

 

		I.	The Service
                                         Fees under this Agreement shall be calculated on the basis of 10% to 100% of the monthly
                                         total business income of Party B and/or Party B’s Subsidiaries, and the specific
                                         proportion of the above Service Fees (limited to 10% to 100%) shall be determined and
                                         notified in writing by Party A to Party B and/or Party B’s Subsidiaries according
                                         to the actual technical support service provided by Party A as required by Party B and/or
                                         Party B’s Subsidiaries and based on the number of persons and number of days invested
                                         by Party A.

 

		II.	Party
                                         B shall determine the amount of Service Fees according to the following factors:

 

		1.	Technical difficulty and
complexity of the technical consultation and services;

 

		2.	Time spent by Party A’s
employees in the technical consultation and services;

 

		3.	Specific content and commercial
value of the technical consultation and services;

 

		4.	Market reference price
of similar technical consultation and services.

 

		III.	Party
                                         A shall summarize and calculate the Service Fees on a quarterly basis and shall, within
                                         Thirty (30) days from the start date of any quarter, send a bill of technical Service
                                         Fees for the last quarter to Party B and/or Party B’s Subsidiaries so as to give
                                         a notice to Party B and/or Party B’s Subsidiaries. Within Ten (10) working days
                                         after receipt of such notice, Party B and/or Party B’s Subsidiaries shall pay such
                                         Service Fees to the bank account designated by Party A. Party B and/or Party B’s
                                         Subsidiaries shall send by fax or by mail a copy of the remittance voucher to Party A
                                         within Ten (10) working days after remittance.

 

		IV.	If Party
                                         A considers that it is necessary to adjust the service pricing mechanism as stipulated
                                         herein that is not continuously applicable for some reason, Party A shall give a prompt
                                         written notice to Party B and/or Party B’s Subsidiaries, and such written notice
                                         shall take effect when it is served to Party B and/or Party B’s Subsidiaries.

  

     

     

    

Annex
III Letter of Acceptance of Rights and Obligations

 

Our company, ______, is a subsidiary
of ______ Co., Ltd. (hereinafter referred to as “______”) incorporated with ______on
the ______day of , and Tianjin Shangde holds % of ______ the shares/equity
of our company.

In accordance with the
Exclusive Technical Consultation and Service Agreement (hereinafter referred to as “Agreement”) entered
into by ______________Co., Limited and other parties on the day of ______, our company as a newly added “Party
B’s Subsidiary” under the Agreement shall join the Agreement pursuant to Article 12 of the Agreement

 

Our company
hereby agrees to join the Agreement as a newly added “Party B’s Subsidiary”, enjoy all rights under the Agreement
and perform all our obligations under this Agreement in accordance with the Agreement, which shall come into force as of the date
of signing of this Letter of Acceptance.

 

[
              ] (Seal)

 

Legal
Representative (Signature):

 

Date:

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