Document:

EX-10.8

 Exhibit 10.8 

Equity Interest Pledge Agreement 

(English translation) 
 This Equity Interest
Pledge Agreement (this “Agreement”) is entered into as of the date of January 25, 2017 by and between the following parties in Foshan, the People’s Republic of China (“PRC”): 

 

	Party A:	Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd., a wholly foreign-owned enterprise duly established and validly registered under the laws of the PRC,
whose unified social credit code is 91440400MA4W6P9G26 and whose registered address is Room 105-24987 (central office area), No.6, Baohua Road, Hengqin New District, Zhuhai, Guangdong Province

  

	Party B:	Meirong Yang, P.R.C. citizen, Identity Number:                      

Wenjie Yang, P.R.C. citizen, Identity Number:
                     
  

	Party C:	BGY Education Investment Management Co., Ltd., a company with limited liabilities duly established and validly registered under the laws of the PRC, whose registered number is
440681000609038, and whose registered address is at Room A216, Building 1, Guangdong Country Garden School, West 20 Road Shunde Country Garden Community, Next to Bijiang Bridge, Beijiao Town, Shunde District, Foshan, Guangdong Province

 (Each of Party A, Party B and Party C, a “Party”, and collectively, the “Parties”.) 

WHEREAS, 
  

	(1)	Party A, Party B and Party C and Party C’s subsidiaries (the “Party C Subsidiaries”) have executed the agreements listed in Appendix I (the
“Main Agreements”); 

  

	(2)	Party B collectively owns 100% of the equity interests of Party C in total, and Party B plans to pledge the equity interest of Party C it owns to Party A unconditionally, as a security for the performance of the
obligations by Party B, Party C and Party C Subsidiaries under the Main Agreements, and Party A agrees to accept such security (the “Pledge”). 

NOW THEREFORE, Party A, Party B and Party C through mutual negotiations hereby enter into this Agreement based upon the following terms: 

 

	1.	Pledge 

 Party B agrees to pledge its equity interests in Party C (the
“Pledged Equity Interests”) to Party A unconditionally and irrevocably, as a security for the performance of the obligations by Party B, Party C and Party C Subsidiaries under the Main Agreements. 

 

	2.	Scope of Pledge 

 The scope of the Pledge under this Agreement include all obligations of
Party B, Party C and Party C Subsidiaries under the Main Agreements (including but not limited to any amounts, penalties, damages, dividends, profits or any asset etc. payable but not paid to Party A), any fees for exercising the creditor’s
rights and the Pledge right, and any other related expenses, and shall not be limited to the amounts of secured creditor’s right as recorded in Industrial and Commercial authority. 

  
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	3.	Term and Dissolution of Pledge 

  

	 	3.1	The Pledge under this Agreement shall be effective from the date of registration of the Pledge with competent Industrial and Commercial authorities to the date on which the Main Agreements are completely performed,
invalidated or terminated (the later date shall prevail). During the term of Pledge, if Party B, Party C and any of Party C Subsidiaries fail to perform any of their obligations under the Main Agreements, or in case of occurrence of any of the
events provided in Article 6.1, Party A is entitled but not obligated to dispose the Pledged Equity Interests in accordance with the provisions of this Agreement. 

 

	 	3.2	When all Main Agreements are entirely performed or terminated or become invalid (the later date shall prevail) and Party B, Party C and any of Party C Subsidiaries fully and entirely perform obligations under Main
Agreements and pay off all secured debts, Party A shall rescind the Pledge under this Agreement according to Party B’s request, and assist Party B to deregister the Pledge recorded in Shareholders’ Book of Party C and registered with the
competent Industrial and Commercial authority. All fees and expenses arising from such deregistration of the Pledge shall be borne by Party C. 

  

	4.	Registration of Pledge and Retention of Equity Interest Record 

  

	 	4.1	Party B and Party C undertake that, Party B and Party C shall: (i) on the date of the execution of the Agreement, record the Pledge under this Agreement on the Shareholders’ Book of Party C according to
Appendix II and the Shareholders’ Book with the Pledge recorded shall be kept by Party A; and (ii) within thirty (30) business days after the execution of this Agreement or other practically shortest
period, register the Pledged Equity Interests with relevant Industrial and Commercial authority and obtain evidencing documents of such registration. Without limitation to any provision of this Agreement, during the effective period of this
Agreement the Shareholders’ Book of Party C shall always be in the custody of Party A or any agent designated by Party A, unless any necessary registration or alteration procedures are required to be fulfilled in the operation of Party C or
Party C’s Subsidiaries. 

  

	 	4.2	Party B and Party C further undertake that after the execution of this Agreement, Party B may make capital increase to Party C with the prior consent of Party A provided that any capital increase by Party B to Party C
constitutes an integrated part of the Pledged Equity Interests of this Agreement. Party B and Party C shall make necessary modification to the Shareholders’ Book and capital contribution of relevant companies and conduct the pledge registration
procedures according to Article 4.1 after the completion of the relevant capital increase. 

  

	 	4.3	All fees and expenses related to this Agreement, including but not limited to registration fee, cost, stamp tax or any other taxes, expenses shall be borne by Party A according to relevant laws and regulations.

  

	 	4.4	During the term of Pledge stipulated by this Agreement, Party B shall deliver the capital contribution certificate to Party A within one (1) week after the execution of this Agreement. Party A shall keep the
capital contribution certificate within the entire term of Pledge. Within the term of Pledge, Party A is entitled to collect the dividends of the Pledged Equity Interests. 

  
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	5.	Covenants and Warranties of Party B and Party C 

 Party B and Party C hereby jointly and
severally covenant and warrant to Party A as follows: 
  

	 	5.1	Party B is the lawful owner of the Pledged Equity Interests and there is no dispute or potential dispute concerning the ownership of such equity interests. Party B has the right to dispose such equity interests or any
part thereof without any restrictions by any third party. 

  

	 	5.2	Except for the Pledge provided hereunder and in the Exclusive Call Option Agreement executed by relevant parties, Party B has not established any other pledge or other interests of any third party over the Pledged
Equity Interests. 

  

	 	5.3	Party B and Party C fully understand the contents of this Agreement and the execution of the Agreement by Party B and Party C is based on true and free will. Party B and Party C have taken all necessary measures and
obtained all necessary internal authorization to execute and perform this Agreement, signed all necessary documents and obtained all approvals and consents from the government and third party (if applicable) to make sure the Pledge under the
Agreement is lawful and valid. 

  

	 	5.4	Either the execution of this Agreement or the performance of obligations under this Agreement will not (i) conflict with, breach or violate any applicable PRC law,(ii) conflict with any organizational documents of
Party C, (iii) conflict with, breach or violate any contract, document to which it is a Party or it is bound with; (iv) violate any license or permit granted to it and/or violate any condition to maintain the validity of any license or
permit granted to it; or (v) cause any license or permit granted to it be terminated, rescinded or have conditions imposed. 

  

	 	5.5	During the effective period of this Agreement, Party B shall not transfer or assign the Pledged Equity Interests, authorize any rights relating to the Pledged Equity Interests to any third party, or create or permit to
be created any security or other interests which may have an adverse effect on the rights or benefits of the Party A without prior written consent of Party A. 

  

	 	5.6	During the effective period of this Agreement, Party B and Party C shall abide by and implement all relevant PRC laws and regulations concerning the pledge of rights, and in the event Party B and Party C receive any
notice, order or suggestion from competent authorities concerning the Pledged Equity Interests and/or the Pledge hereunder, Party B and Party C shall timely notify and show Party A of such notice or order within five (5) business days upon
receipt thereof. 

  

	 	5.7	Party B and Party C shall not conduct or permit to be conducted anything that shall damage the value of the Pledged Equity Interests or the Pledge right of Party A. Party B and Party C shall notify Party A of any events
that may influence the value of the Pledged Equity Interests or the Pledge right of Party A within five (5) business days after its knowledge of such events. 

 

	 	5.8	The Pledge under this Agreement shall remain fully effective during the effective period of the Agreement, and shall not be influenced by liquidation, lost of capacity, change of organization or status, any capital
offset among the Parties or any other events. 

  
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	 	5.9	For the purpose of performance of this Agreement, Party A is entitled to dispose the Pledged Equity Interests in accordance with the provision of this Agreement. Party A’s exercise of such right shall not be
interrupted or jeopardized by Party B and Party C, their successors or agents, or any other persons by way of legal proceedings. 

  

	 	5.10	In order to ensure and consummate the security provided by this Agreement over the obligations of Party B, Party C and Party C Subsidiaries under the Main Agreements, Party B and Party C shall faithfully sign and cause
any third party who is beneficially related to the Pledged Equity Interests to sign all certificates and agreements in connection with the performance of the Agreement, and/or cause such third party to take any measures required by Party A and
provide convenience to Party A concerning the exercise of the Pledge right hereunder. 

  

	 	5.11	In order to protect the interests of Party A, Party B and Party C shall abide by and perform all warranties, covenants, agreements, representations and conditions. In the event Party B and/or Party C failed to do so and
resulted in damages to Party A, Party B and/or Party C shall indemnify Party A for all of such damages and losses. 

  

	6.	Events of Default and Exercise of the Pledge Right 

  

	 	6.1	In case of any of the following events (“Events of Default”) which shall be permitted by relevant PRC’s laws and regulations, Party A may require Party B or Party C to perform all the
obligations under this Agreement and the Pledge rights under the Agreement may be exercised immediately: 

  

	 	(a)	Party B or Party C violates its covenants and warranties under this Agreement, or any covenants and warranties made by Party B in this Agreement are seriously untrue; 

 

	 	(b)	Party B, Party C or Party C Subsidiaries violate any of its obligations or covenants and warranties under the Main Agreements, or any covenants and warranties made by Party B or Party C in the Main Agreements are
seriously untrue; 

  

	 	(c)	Any obligation of Party B or Party C or Party C Subsidiaries under this Agreement is regarded as illegal or void; 

  

	 	(d)	The termination of business or dissolution of Party C or its Subsidiaries, or the termination of business, dissolution or bankruptcy of Party C or its Subsidiaries by any order; 

 

	 	(e)	Party B and/or Party C and/or Party C Subsidiaries are involved in any disputes, litigations, arbitrations, administrative procedures or any other legal procedures or administrative query, actions or investigations that
deemed reasonably to have material adverse effect on the following events: (i) the capacity of Party B to perform its obligations under this Agreement or the Main Agreements, or (ii) the capacity of Party C or any of its Subsidiaries to
perform its obligations under this Agreement or the Main Agreements; 

  
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	 	(f)	Any other events of the disposal of the Pledged Equity Interest according to applicable laws and regulations. 

  

	 	6.2	In case of any of the aforesaid Events of Default, Party A or the third party designated by Party C may exercise its Pledge right by purchasing, designating any other party to purchase, auctioning, or selling all or
part of the Pledged Equity Interests. Party A may exercise such Pledge right without exercising any other security rights, or take any other measures or proceedings or take any other action for remedies of breach of this Agreement against Party B
and/or Party C any other parties. 

  

	 	6.3	Upon request by Party A, Party B and Party C shall take all the lawful and appropriate measures to ensure the exercise of the Pledge right by Party A. For such purpose, Party B and Party C shall sign all appropriate
documents and materials, and take all proper measures requested by Party A. 

  

	7.	Transfer or Assignment 

  

	 	7.1	Party B and Party C have no right to transfer or assign the rights and obligations under this Agreement without the prior written consent from Party A, except that Party A acquires the Pledged Equity Interests directly
or indirectly according to the Exclusive Call Option Agreement. 

  

	 	7.2	The Agreement shall be binding upon the Party B and its successors and be effective upon Party A and its successors and assignees. 

  

	 	7.3	Party A may transfer or assign all and any of its rights and obligations under the Main Agreements to any person (natural or legal person) it designates. In this case, the assignee shall enjoy and undertake the same
rights and obligations herein of Party A as if the assignee is a party hereto. Upon Party A’s transfer or assignment of the rights and obligations under the Main Agreements and at Party A’s request, Party B and/or Party C or any of Party C
Subsidiaries shall execute relevant agreements and/or documents with respect to such transfer or assignment, including but not limited to executing a new equity interest agreements, the format and contents of which shall be the same with this
Agreement, with the assignee. 

  

	 	7.4	Subsequent to an assignment or transfer by Party A, the new parties to the Pledge shall re-execute a pledge contract. Party B and Party C shall provide assistance to the assignee
with respect to the registration procedures of the Pledge. 

  

	8.	Confidentiality 

 This Agreement and all clauses hereof shall be confidential information
and shall not be disclosed to any third party except for high-ranking officers, directors, employees, agents or professional consultants of the Parties or their affiliates. This clause shall not apply in the event parties hereto are required by
relevant laws or regulations or relevant Securities Transaction Authorities to disclose information relating to this Agreement to any governmental authorities, the public or the shareholders, or file this Agreement with relevant authorities for
record. 
 This clause shall survive any modification, dissolution or termination of this Agreement. 

 

	9.	Liabilities for Breach of Agreement 

  
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	 	9.1	In the event any Party failed to perform any of its obligations under this Agreement, or made any untrue or inaccurate representations or warranties, such Party shall be liable for all the losses of other Parties for
breach of the Agreement. This Article 9 shall not influence any other right of Party A under this Agreement. 

  

	 	9.2	This Article 9 shall survive any modification, recession or termination of this Agreement 

  

	10.	Force Majeure 

 Force Majeure means any event that cannot be anticipated at the time of
the execution of the Agreement, and the occurrence of which cannot be avoided, controlled or conquered by any party of the Agreement, including but not limited to earthquake, typhoon, flood, fire, boycott, war or rebellion, etc. 

The Party suffering such Force Majeure shall (i) notify the other parties by telegram, facsimile or other electronic means immediately
after the occurrence of such Force Majeure and shall provide written documents evidencing the occurrence of such Force Majeure within fifteen (15) business days; (ii) in every instance, to the extent reasonable and lawful under the
circumstances, use its best efforts to mitigate or remove the effect of such Force Majeure, and continue its performance of the Agreement after such effect is mitigated or removed. 

 

	11.	Change of Parties 

 In the event that Party B no longer possesses any shares of Party C,
Party B shall no longer be deemed as a party of this Agreement. In the event that any third party becomes a shareholder of Party C, Party A and Party C shall make effort to cause such third party executing relevant legal documents and becoming one
of Party B of this Agreement. 
  

	12.	Termination 

 Party B and/or Party C shall not terminate this Agreement without written
consent of Party A. 
 Unless this Agreement is terminated subject to this Article 12, provided that Party B and Party C fully and completely
perform all obligations under this Agreement and pay off all secured debts, Party A shall terminate the Pledge under this Agreement as soon as reasonable as required by Party B and coordinate with Party B to deregister recording of the Pledge in the
Shareholders’ Book of Party C and complete the deregistration process with Industrial and Commercial authority. 
  

	13.	Miscellaneous 

  

	 	13.1	This Agreement and any related matters shall be governed by and construed in accordance with the PRC laws. All disputes arising out of or in connection with this Agreement shall be conciliated friendly by and between
the Parties. When the disputes could not be solved by conciliation, such disputes may be submitted to the China International Economic and Trade Arbitration Commission by any Party and shall be finally settled under the Rules of Arbitration of the
China International Economic and Trade Arbitration Commission by arbitrators appointed in accordance with rules then effective of such arbitration commission. The arbitration award shall be final. The place of arbitration shall be in Beijing. The
language used in arbitration shall be in Chinese. The Parties hereto shall continue to perform its obligations and exercise its rights hereunder except for those in dispute. The validity of this Article 13.1 shall not be influenced by the
modification, rescission and termination of this Agreement. 

  
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	 	13.2	This Agreement becomes effective on the date of execution by all Parties and the Pledge hereunder are established on the date of the registration of such Pledge with the competent Industrial and Commercial authority.
Unless Party A exercises the Pledge right according to this Agreement during the effective term of this Agreement, this Agreement terminates when all the obligations under the Main Agreements are completely fulfilled, or becomes invalid, or
terminated, or when any written agreements concerning the termination of this Agreement is reached by the Parties (the later date shall prevail). 

  

	 	13.3	This Agreement shall be performed within the scope stipulated by laws. In the event any article or any part of an article of this Agreement is deemed as illegal, invalid or unenforceable by any competent authority or
court, such illegality, invalidity or unenforceability shall not affect the validitly of other articles of this Agreement or other part of such article. Parties shall make their best effort to modify such illegal, invalid or unenforceable articles
to achieve the purpose of the original articles. 

  

	 	13.4	The Agreement is executed in ten (10) counterparts, and each of Party A, Party B and Party C holds one counterpart, the rest ones shall be submitted to relevant Industrial and Commercial authorities for filing and
registration or kept by Party A. 

  

	 	13.5	Upon the execution of this Agreement, this Agreement shall supersede and replace any promise, memorandum, agreement and any other document concerning the matters involved in this Agreement. 

 

	 	13.6	Any modification of this Agreement shall be made in a written form and shall only become effective upon the signature by all Parties of the Agreement. 

[The remainder of this page has been left intentionally blank] 

  
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 Party A: Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd. 

(Seal) Seal of Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd.
Affixed 
  

			
	By:	 	 /s/ Meirong Yang

	Name:	 	Meirong Yang
	Title:	 	Legal Representative

 Party B: 
  

			
	Meirong Yang
		
	Signature:	 	 /s/ Meirong Yang

 Party B: 
  

			
	Wenjie Yang
		
	Signature:	 	 /s/ Wenjie Yang

 Party C: BGY Education Investment Management Co., Ltd. 

(Seal) Seal of BGY Education Investment Management Co., Ltd. Affixed 

 

			
	By:	 	 /s/ Meirong Yang

	Name:	 	Meirong Yang
	Title:	 	Legal Representative

 Appendix I    List of Main Agreements 

 

	1.	Exclusive Call Option Agreement entered into by and among Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd., Meirong Yang, Wenjie Yang, and BGY Education Investment Management Co., Ltd. as of
January 25, 2017 

  

	2.	Exclusive Management Services and Business Cooperation Agreement entered into by and among Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd., Meirong Yang, Wenjie Yang, and BGY Education Investment
Management Co., Ltd. and other relevant parties as of January 25, 2017 

  

	3.	Power of Attorney executed by Meirong Yang as of January 25, 2017 

  

	4.	Power of Attorney executed by Wenjie Yang as of January 25, 2017 

  

	5.	Power of Attorney executed by BGY Education Investment Management Co., Ltd. as of January 25, 2017 

 Appendix II    Shareholders’ Book 

Shareholders’ Book of BGY Education Investment Management Co., Ltd. 

 

											
	 Name of Shareholders
	  	Amounts of Capital
Contribution
(RMB)	 	  	Proportion of
Capital
Contribution	 	 	 Equity Interest Pledge

	 Meirong Yang
	  	 	9,500,000	 	  	 	95	% 	 	the 95% equity interest has been pledged to Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd.
	 Wenjie Yang
	  	 	500,000	 	  	 	5	% 	 	the 5% equity interest has been pledged to Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd.

  

			
	BGY Education Investment Management Co., Ltd.

 
			
		
	By:	 	  

	Name:	 	Meirong Yang
	Title:	 	Legal RepresentativeEX-10.9

 Exhibit 10.9 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED 

2017 SHARE INCENTIVE PLAN 

ARTICLE 1 
 PURPOSE

 The purpose of the Bright Scholar Education Holdings Limited 2017 Share Incentive Plan (the “Plan”) is to promote
the success and enhance the value of Bright Scholar Education Holdings Limited, a company formed under the laws of the Cayman Islands (the “Company”), by linking the personal interests of the members of the Board, Employees,
Consultants and other individuals as the Committee may authorize and approve, to those of the Company’s shareholders and, by providing such individuals with an incentive for outstanding performance, to generate superior returns to the
Company’s shareholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of recipients of share incentives hereunder upon whose judgment, interest, and special
effort the successful conduct of the Company’s operation is largely dependent. 
 ARTICLE 2 

DEFINITIONS AND CONSTRUCTION 

Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates
otherwise. The singular pronoun shall include the plural where the context so indicates. 
 2.1 “Applicable Laws” means the
legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system,
of any jurisdiction applicable to Awards granted to residents therein. 
 2.2 “Award” means an Option, Restricted Share or
Restricted Share Unit award granted to a Participant pursuant to the Plan. 
 2.3 “Award Agreement” means any written
agreement, contract, or other instrument or document evidencing an Award, including through electronic medium. 
 2.4 “Award
Pool” shall have the meaning set forth in Section 3.1(a). 
 2.5 “Board” means the Board of Directors of the
Company. 
 2.6 “Cause” with respect to a Participant means (unless otherwise expressly provided in the applicable Award
Agreement, or another applicable contract with the Participant that defines such term for purposes of determining the effect that a “for cause” termination has on the Participant’s Awards) a termination of employment or service based
upon a finding by the Service Recipient, acting in good faith and based on its reasonable belief at the time, that the Participant: 

 (a) has been negligent in the discharge of his or her duties to the Service Recipient, has
refused to perform stated or assigned duties or is incompetent in or (other than by reason of a disability or analogous condition) incapable of performing those duties; 

(b) has been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized
disclosure or use of inside information, customer lists, trade secrets or other confidential information; 
 (c) has breached a fiduciary
duty, or willfully and materially violated any other duty, law, rule, regulation or policy of the Service Recipient; or has been convicted of, or plead guilty or nolo contendere to, a felony or misdemeanor (other than minor traffic violations or
similar offenses); 
 (d) has materially breached any of the provisions of any agreement with the Service Recipient; 

(e) has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of,
the Service Recipient; or 
 (f) has improperly induced a vendor or customer to break or terminate any contract with the Service Recipient
or induced a principal for whom the Service Recipient acts as agent to terminate such agency relationship. 
 A termination for Cause shall
be deemed to occur (subject to reinstatement upon a contrary final determination by the Committee) on the date on which the Service Recipient first delivers written notice to the Participant of a finding of termination for Cause. 

2.7 “Code” means the Internal Revenue Code of 1986 of the United States, as amended. 

2.8 “Committee” means the Board or a committee of the Board described in Article 10. 

2.9 “Consultant” means any consultant or adviser if: (a) the consultant or adviser renders bona fide services to a
Service Recipient; (b) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the
Company’s securities; and (c) the consultant or adviser is a natural person who has contracted directly with the Service Recipient to render such services. 

2.10 “Corporate Transaction”, unless otherwise defined in an Award Agreement, means any of the following transactions,
provided, however, that the Committee shall determine under (d) and (e) whether multiple transactions are related, and its determination shall be final, binding and conclusive: 

(a) an amalgamation, arrangement or consolidation or scheme of arrangement (i) in which the Company is not the surviving entity, except
for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or (ii) following which the holders of the voting securities of the Company do not continue to hold more than 50% of the
combined voting power of the voting securities of the surviving entity; 

  
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 (b) the sale, transfer or other disposition of all or substantially all of the assets of the
Company; 
 (c) the complete liquidation or dissolution of the Company; 

(d) any reverse takeover or series of related transactions culminating in a reverse takeover (including, but not limited to, a tender offer
followed by a reverse takeover) in which the Company is the surviving entity but (A) the Company’s equity securities outstanding immediately prior to such takeover are converted or exchanged by virtue of the takeover into other property,
whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities are transferred to a person or persons
different from those who held such securities immediately prior to such takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that the Committee determines shall not be
a Corporate Transaction; or 
 (e) acquisition in a single or series of related transactions by any person or related group of persons
(other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of
the total combined voting power of the Company’s outstanding securities but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction. 

2.11 “Disability”, unless otherwise defined in an Award Agreement, means that the Participant qualifies to receive
long-term disability payments under the Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides services regardless of whether the Participant is covered by such
policy. If the Service Recipient to which the Participant provides service does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities and functions of the position
held by the Participant by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or she
furnishes proof of such impairment sufficient to satisfy the Committee in its discretion. 
 2.12 “Effective Date” shall
have the meaning set forth in Section 11.1. 
 2.13 “Employee” means any person, including an officer or a member of
the Board of the Company or any Parent or Subsidiary of the Company, who is in the employment of a Service Recipient, subject to the control and direction of the Service Recipient as to both the work to be performed and the manner and method of
performance. The payment of a director’s fee by a Service Recipient shall not be sufficient to constitute “employment” by the Service Recipient. 

2.14 “Exchange Act” means the Securities Exchange Act of 1934 of the United States, as amended. 

2.15 “Fair Market Value” means, as of any date, the value of Shares determined as follows: 

(a) If the Shares are listed on one or more established stock exchanges or national market systems, including without limitation, The New York
Stock Exchange and The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Shares are listed (as
determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The Wall
Street Journal or such other source as the Committee deems reliable; 

  
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 (b) If the Shares are regularly quoted on an automated quotation system (including the OTC
Bulletin Board) or by a recognized securities dealer, its Fair Market Value shall be the closing sales price for such shares as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported,
the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in
The Wall Street Journal or such other source as the Committee deems reliable; or 
 (c) In the absence of an established market for the
Shares of the type described in (a) and (b), above, the Fair Market Value thereof shall be determined by the Committee in good faith and in its discretion by reference to (i) the placing price of the latest private placement of the Shares
and the development of the Company’s business operations and the general economic and market conditions since such latest private placement, (ii) other third party transactions involving the Shares and the development of the Company’s
business operation and the general economic and market conditions since such sale, (iii) an independent valuation of the Shares, or (iv) such other methodologies or information as the Committee determines to be indicative of Fair Market
Value and relevant. 
 2.16 “Incentive Share Option” means an Option that is intended to meet the requirements of
Section 422 of the Code or any successor provision thereto. 
 2.17 “Independent Director” means (i) before the
Shares or other securities representing the Shares are listed on a stock exchange, a member of the Board who is a Non-Employee Director; and (ii) after the Shares or other securities representing the
Shares are listed on a stock exchange, a member of the Board who meets the independence standards under the applicable corporate governance rules of the stock exchange. 

2.18 “Non-Employee Director” means a member of the Board who qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board. 

2.19 “Non-Qualified Share Option” means an Option that is not intended to be an
Incentive Share Option. 
 2.20 “Option” means a right granted to a Participant pursuant to Article 5 of the Plan to
purchase a specified number of Shares at a specified price during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option. 

2.21 “Participant” means a person who, as a member of the Board, Consultant or Employee, or other individuals as the
Committee may authorize and approve, has been granted an Award pursuant to the Plan. 
 2.22 “Parent” means a parent
corporation under Section 424(e) of the Code. 

  
 4 

 2.23 “Plan” means this Bright Scholar Education Holdings Limited 2017 Share
Incentive Plan, as it may be amended from time to time. 
 2.24 “Related Entity” means any business, corporation,
partnership, limited liability company or other entity in which the Company, a Parent or Subsidiary of the Company holds a substantial ownership interest, directly or indirectly, but which is not a Subsidiary and which the Board designates as a
Related Entity for purposes of the Plan. 
 2.25 “Restricted Share” means a Share awarded to a Participant pursuant to
Article 6 that is subject to certain restrictions and may be subject to risk of forfeiture. 
 2.26 “Restricted Share Unit”
means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date. 
 2.27 “Securities
Act” means the Securities Act of 1933 of the United States, as amended. 
 2.28 “Service Recipient” means the
Company, any Parent or Subsidiary of the Company and any Related Entity to which a Participant provides services as an Employee, a Consultant, or a Director. 

2.29 “Share” means the ordinary shares of the Company, par value US$0.0001 per share, and such other securities of the
Company that may be substituted for Shares pursuant to Article 9. 
 2.30 “Subsidiary” means any corporation or other
entity of which a majority of the outstanding voting shares or voting power is beneficially owned or controlled directly or indirectly by the Company. 

2.31 “Trading Date” means the closing of the first sale to the general public of the Shares pursuant to a registration
statement filed with and declared effective by the U.S. Securities and Exchange Commission under the Securities Act. 
 ARTICLE 3 

SHARES SUBJECT TO THE PLAN 

3.1 Number of Shares. 

(a) Subject to the provisions of Article 9 and Section 3.1(b), the maximum aggregate number of Shares which may be issued pursuant to all
Awards (including Incentive Share Options) under the Plan (the “Award Pool”) shall be 526,316, which constitutes five percent (5%) of the total outstanding Shares of the Company on an as-converted
basis as of the date of adoption of this Plan. 
 (b) To the extent that an Award terminates, expires, or lapses for any reason, any Shares
subject to the Award shall again be available for the grant of an Award pursuant to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any
form or combination by the Company or any Parent or Subsidiary of the Company shall not be counted against Shares available for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award
under the Plan, in payment of the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a). If any Restricted Shares are forfeited by the Participant or
repurchased by the Company, such Shares may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a). Notwithstanding the provisions of this Section 3.1(b), no Shares may again be optioned, granted or awarded if
such action would cause an Incentive Share Option to fail to qualify as an Incentive Share Option under Section 422 of the Code. 

  
 5 

 3.2 Shares Distributed. Any Shares distributed pursuant to an Award may consist, in
whole or in part, of authorized and unissued Shares, treasury shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, in the discretion of the Committee, American Depository Shares in an amount equal to the number
of Shares which otherwise would be distributed pursuant to an Award may be distributed in lieu of Shares in settlement of any Award. If the number of Shares represented by an American Depository Share is other than on a one-to-one basis, the limitations of Section 3.1 shall be adjusted to reflect the distribution of American Depository Shares in lieu of Shares. 

ARTICLE 4 
 ELIGIBILITY
AND PARTICIPATION 
 4.1 Eligibility. Those eligible to participate in this Plan include Employees, Consultants, and all
members of the Board, and other individuals, as determined, authorized and approved by the Committee. 
 4.2 Participation. Subject
to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have any right to be
granted an Award pursuant to this Plan. 
 4.3 Jurisdictions. In order to assure the viability of Awards granted to Participants in
various jurisdictions, the Committee may provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in the jurisdiction in which the Participant resides, is
employed, operates or is incorporated. Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting
the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements, amendments, restatements, or alternative versions shall increase the share limitations contained in Section 3.1 of the Plan.
Notwithstanding the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws. 

ARTICLE 5 
 OPTIONS

 5.1 General. The Committee is authorized to grant Options to Participants on the following terms and conditions: 

(a) Exercise Price. The exercise price per Share subject to an Option shall be determined by the Committee and set forth in the Award
Agreement which may be a fixed or variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option may be amended or adjusted in the absolute discretion of the Committee, the determination of which
shall be final, binding and conclusive. For the avoidance of doubt, to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options mentioned in the preceding sentence shall be effective
without the approval of the Company’s shareholders or the approval of the affected Participants. No adjustment shall be made to the exercise price of Options if it will result in the exercise price falling below the then par value of the
Shares. 

  
 6 

 (b) Time and Conditions of Exercise. The Committee shall determine the time or times at
which an Option may be exercised in whole or in part, including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years, except as provided in Section 12.1. The Committee shall
also determine any conditions, if any, that must be satisfied before all or part of an Option may be exercised. 
 (c) Payment. The
Committee shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the
Applicable Laws, cash or check in Chinese Renminbi, (iii) cash or check denominated in any other local currency as approved by the Committee, (iv) Shares held for such period of time as may be required by the Committee in order to avoid
adverse financial accounting consequences and having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v) after the Trading Date the delivery of a notice that the
Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in
satisfaction of the Option exercise price; provided that payment of such proceeds is then made to the Company upon settlement of such sale, (vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise
price, or (vii) any combination of the foregoing. Notwithstanding any other provision of the Plan to the contrary, no Participant who is a member of the Board or an “executive officer” of the Company within the meaning of Section
13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any method which would violate Section 13(k) of the Exchange Act. 

(d) Evidence of Grant. All Options shall be evidenced by an Award Agreement between the Company and the Participant. The Award
Agreement shall include such additional provisions as may be specified by the Committee. 
 (e) Effects of Termination of Employment or
Service on Options. Termination of employment or service shall have the following effects on Options granted to the Participants: 

(i) Dismissal for Cause. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the
Service Recipient is terminated by the Service Recipient for Cause, the Participant’s Options will terminate upon such termination, whether or not the Option is then vested and/or exercisable; 

(ii) Death or Disability. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the
Service Recipient terminates as a result of the Participant’s death or Disability: 

  
 7 

	 	(a)	the Participant (or his or her legal representative or beneficiary, in the case of the Participant’s Disability or death, respectively), will have until the date that is 12 months after the Participant’s
termination of Employment to exercise the Participant’s Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s termination of Employment on account of death or Disability;

  

	 	(b)	the Options, to the extent not vested and exercisable on the date of the Participant’s termination of Employment or service, shall terminate upon the Participant’s termination of Employment or service on
account of death or Disability; and 

  

	 	(c)	the Options, to the extent exercisable for the 12-month period following the Participant’s termination of Employment or service and not exercised during such period, shall
terminate at the close of business on the last day of the 12-month period. 

 (iii)
Other Terminations of Employment or Service. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the Service Recipient terminates for any reason other than a termination by the Service
Recipient for Cause or because of the Participant’s death or Disability: 
  

	 	(a)	the Participant will have until the date that is 90 days after the Participant’s termination of Employment or service to exercise his or her Options (or portion thereof) to the extent that such Options were vested
and exercisable on the date of the Participant’s termination of Employment or service; 

  

	 	(b)	the Options, to the extent not vested and exercisable on the date of the Participant’s termination of Employment or service, shall terminate upon the Participant’s termination of Employment or service; and

  

	 	(c)	the Options, to the extent exercisable for the 90-day period following the Participant’s termination of Employment or service and not exercised during such
period, shall terminate at the close of business on the last day of the 90-day period. 

5.2 Incentive Share Options. Incentive Share Options may be granted to Employees of the Company, a Parent or Subsidiary of the
Company. Incentive Share Options may not be granted to Employees of a Related Entity or to Independent Directors or Consultants. The terms of any Incentive Share Options granted pursuant to the Plan, in addition to the requirements of
Section 5.1, must comply with the following additional provisions of this Section 5.2: 
 (a) Individual Dollar Limitation.
The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other
limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share Options. 

  
 8 

 (b) Exercise Price. The exercise price of an Incentive Share Option shall be equal to the
Fair Market Value on the date of grant. However, the exercise price of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten percent of the total combined voting power of all classes of
shares of the Company may not be less than 110% of Fair Market Value on the date of grant and such Option may not be exercisable for more than five years from the date of grant. 

(c) Transfer Restriction. The Participant shall give the Company prompt notice of any disposition of Shares acquired by exercise of an
Incentive Share Option within (i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer of such Shares to the Participant. 

(d) Expiration of Incentive Share Options. No Award of an Incentive Share Option may be made pursuant to this Plan after the tenth
anniversary of the Effective Date. 
 (e) Right to Exercise. During a Participant’s lifetime, an Incentive Share Option may be
exercised only by the Participant. 
 ARTICLE 6 

RESTRICTED SHARES 
 6.1
Grant of Restricted Shares. The Committee, at any time and from time to time, may grant Restricted Shares to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine
the number of Restricted Shares to be granted to each Participant. 
 6.2 Restricted Shares Award Agreement. Each Award of Restricted
Shares shall be evidenced by an Award Agreement that shall specify the period of restriction, the number of Restricted Shares granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. Unless the
Committee determines otherwise, Restricted Shares shall be held by the Company as escrow agent until the restrictions on such Restricted Shares have lapsed. 

6.3 Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions
as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Shares or the right to receive dividends on the Restricted Share). These restrictions may lapse separately or in combination at such times,
pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. 

6.4 Forfeiture/Repurchase. Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter,
upon termination of employment or service during the applicable restriction period, Restricted Shares that are at that time subject to restrictions shall be forfeited or repurchased in accordance with the Award Agreement; provided, however,
the Committee may (a) provide in any Restricted Share Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Shares will be waived in whole or in part in the event of terminations resulting from
specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Shares. 

  
 9 

 6.5 Certificates for Restricted Shares. Restricted Shares granted pursuant to the
Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms, conditions, and
restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. 

6.6 Removal of Restrictions. Except as otherwise provided in this Article 6, Restricted Shares granted under the Plan shall be released
from escrow as soon as practicable after the last day of the period of restriction. The Committee, in its discretion, may accelerate the time at which any restrictions shall lapse or be removed. After the restrictions have lapsed, the Participant
shall be entitled to have any legend or legends under Section 6.5 removed from his or her Share certificate, and the Shares shall be freely transferable by the Participant, subject to applicable legal restrictions. The Committee (in its
discretion) may establish procedures regarding the release of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens on the Company. 

ARTICLE 7 
 RESTRICTED
SHARE UNITS 
 7.1 Grant of Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted Share
Units to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Share Units to be granted to each Participant. 

7.2 Restricted Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award Agreement that shall
specify any vesting conditions, the number of Restricted Share Units granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

7.3 Performance Objectives and Other Terms. The Committee, in its discretion, may set performance objectives or other vesting criteria
which, depending on the extent to which they are met, will determine the number or value of Restricted Share Units that will be paid out to the Participants. 

7.4 Form and Timing of Payment of Restricted Share Units. At the time of grant, the Committee shall specify the date or dates on which
the Restricted Share Units shall become fully vested and nonforfeitable. Upon vesting, the Committee, in its sole discretion, may pay Restricted Share Units in the form of cash, in Shares or in a combination thereof. 

7.5 Forfeiture/Repurchase. Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter,
upon termination of employment or service during the applicable restriction period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased in accordance with the Award Agreement; provided, however, the
Committee may (a) provide in any Restricted Share Unit Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the event of terminations resulting from
specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Share Units. 

  
 10 

 ARTICLE 8 

PROVISIONS APPLICABLE TO AWARDS 

8.1 Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations
for each Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or
rescind an Award. 
 8.2 No Transferability; Limited Exception to Transfer Restrictions. 

8.2.1 Limits on Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 8.2, by applicable law and by the
Award Agreement, as the same may be amended: 
  

	 	(a)	all Awards are non-transferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; 

 

	 	(b)	Awards will be exercised only by the Participant; and 

  

	 	(c)	amounts payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the case of Shares, registered in the name of, the Participant. 

In addition, the shares shall be subject to the restrictions set forth in the applicable Award Agreement. 

8.2.2 Further Exceptions to Limits on Transfer. The exercise and transfer restrictions in Section 8.2.1 will not apply to: 

 

	 	(a)	transfers to the Company or a Subsidiary; 

  

	 	(b)	transfers by gift to “immediate family” as that term is defined in SEC Rule 16a-1(e) promulgated under the Exchange Act; 

 

	 	(c)	the designation of a beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises by the Participant’s beneficiary, or, in the absence of a validly designated
beneficiary, transfers by will or the laws of descent and distribution; or 

  

	 	(d)	if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant’s duly authorized legal representative; or 

 

	 	(e)	subject to the prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer to one or more natural persons who are the Participant’s family members or
entities owned and controlled by the Participant and/or the Participant’s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners are the Participant and/or the Participant’s family
members, or to such other persons or entities as may be expressly approved by the Committee, pursuant to such conditions and procedures as the Committee or may establish. Any permitted transfer shall be subject to the condition that the Committee
receives evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes and on a basis consistent with the Company’s lawful issue of securities. 

  
 11 

 Notwithstanding anything else in this Section 8.2.2 to the contrary, but subject to
compliance with all applicable laws, Incentive Share Options, Restricted Shares and Restricted Share Units will be subject to any and all transfer restrictions under the Code applicable to such Awards or necessary to maintain the intended tax
consequences of such Awards. Notwithstanding clause (b) above but subject to compliance with all applicable laws, any contemplated transfer by gift to “immediate family” as referenced in clause (b) above is subject to the
condition precedent that the transfer be approved by the Administrator in order for it to be effective. 
 8.3 Beneficiaries.
Notwithstanding Section 8.2, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s
death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the
Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a person other than the
Participant’s spouse as his or her beneficiary with respect to more than 50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been
designated or survives the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or
revoked by a Participant at any time provided the change or revocation is filed with the Committee. 
 8.4 Share Certificates.
Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates evidencing the Shares pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of
counsel, that the issuance and delivery of such certificates is in compliance with all Applicable Laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the Shares are listed or traded. All Share
certificates delivered pursuant to the Plan are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply all Applicable Laws, and the rules of any national securities exchange or automated
quotation system on which the Shares are listed, quoted, or traded. The Committee may place legends on any Share certificate to reference restrictions applicable to the Shares. In addition to the terms and conditions provided herein, the Committee
may require that a Participant make such reasonable covenants, agreements, and representations as the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the
right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee. 

  
 12 

 8.5 Paperless Administration. Subject to Applicable Laws, the Committee may make Awards,
provide applicable disclosure and procedures for exercise of Awards by an internet website or interactive voice response system for the paperless administration of Awards. 

8.6 Foreign Currency. A Participant may be required to provide evidence that any currency used to pay the exercise price of any Award
were acquired and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign exchange control laws and regulations. In the event the exercise price for an Award is paid in Chinese Renminbi or
other foreign currency, as permitted by the Committee, the amount payable will be determined by conversion from U.S. dollars at the official rate promulgated by the People’s Bank of China for Chinese Renminbi, or for jurisdictions other than
the Peoples Republic of China, the exchange rate as selected by the Committee on the date of exercise. 
 ARTICLE 9 

CHANGES IN CAPITAL STRUCTURE 

9.1 Adjustments. In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or
consolidation, spin-off, recapitalization or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the shares of Shares or the share price
of a Share, the Committee shall make such proportionate adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the
Plan (including, but not limited to, adjustments of the limitations in Section 3.1); (b) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto);
and (c) the grant or exercise price per share for any outstanding Awards under the Plan. 
 9.2 Corporate Transactions. Except
as may otherwise be provided in any Award Agreement or any other written agreement entered into by and between the Company and a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the
Committee may, in its sole discretion (without the need to seek approval from the Shareholders of the Company or the Participants, to the extent permitted by all Applicable Laws), provide for (i) any and all Awards outstanding hereunder to
terminate at a specific time in the future and shall give each Participant the right to exercise the vested portion of such Awards during a period of time as the Committee shall determine, or (ii) the purchase of any Award for an amount of cash
equal to the amount that could have been attained upon the exercise of such Award (and, for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been attained upon the exercise of such Award,
then such Award may be terminated by the Company without payment), or (iii) the replacement of such Award with other rights or property selected by the Committee in its sole discretion or the assumption of or substitution of such Award by the
successor or surviving corporation, or a Parent or Subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, or (iv) payment of Award in cash based on the value of Shares on the date of the Corporate
Transaction plus reasonable interest on the Award through the date when such Award would otherwise be vested or have been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code. 

  
 13 

 9.3 Outstanding Awards – Other Changes. In the event of any other change in the
capitalization of the Company or corporate change other than those specifically referred to in this Article 9, the Committee may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards outstanding on
the date on which such change occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights. 

9.4 No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or
consolidation of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly
provided in the Plan or pursuant to action of the Committee under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be made with
respect to, the number of shares subject to an Award or the grant or exercise price of any Award. 
 ARTICLE 10 

ADMINISTRATION 
 10.1
Committee. The Plan shall be administered by the Board or a committee of one or more members of the Board to whom the Board shall delegate the authority to grant or amend Awards to Participants other than any of the Committee members. Any
grant or amendment of Awards to any Committee member shall then require an affirmative vote of a majority of the Board members who are not on the Committee. 

10.2 Action by the Committee. A majority of the members of the Committee shall constitute a quorum. The acts of a majority of the
members of the Committee present at any meeting at which a quorum is present, and acts approved in writing by a majority of the Committee in lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is entitled to,
in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any executive compensation
consultant or other professional retained by the Company to assist in the administration of the Plan. 
 10.3 Authority of the
Committee. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion (without the need to seek approval from the Shareholders of the Company or the Participants, to the extent permitted by
all Applicable Laws) to: 
 (a) designate Participants to receive Awards; 

(b) determine the type or types of Awards to be granted to each Participant; 

  
 14 

 (c) determine the number of Awards to be granted and the number of Shares to
which an Award will relate; 
 (d) determine the terms and conditions of any Award granted pursuant to the Plan, including,
but not limited to, the exercise price, grant price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers
thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; 

(e) determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of
an Award may be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 

(f) prescribe the form of each Award Agreement, which need not be identical for each Participant; 

(g) decide all other matters that must be determined in connection with an Award; 

(h) establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; 

(i) interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 

(j) make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary
or advisable to administer the Plan. 
 10.4 Decisions Binding. The Committee’s interpretation of the Plan, any Awards granted
pursuant to the Plan, any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. 

ARTICLE 11 
 EFFECTIVE
AND EXPIRATION DATE 
 11.1 Effective Date. The Plan is effective as of February 8, 2017 (the “Effective Date”).
The Plan will be deemed to be approved by the shareholders if it receives the affirmative vote of the holders of a majority of the share capital of the Company present or represented and entitled to vote at a meeting duly held in accordance with the
applicable provisions of the Company’s Memorandum of Association and Articles of Association or unanimous written approval by all the shareholders of the Company. 

11.2 Expiration Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the
Effective Date. Any Awards that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable Award Agreement. 

  
 15 

 ARTICLE 12 

AMENDMENT, MODIFICATION, AND TERMINATION 

12.1 Amendment, Modification, And Termination. With the prior approval of the Board (whether by way of general
authorization or specific approval), at any time and from time to time, the Committee may terminate, amend or modify the Plan; provided, however, that (a) to the extent necessary and desirable to comply with Applicable Laws, the Company
shall obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required, unless the Company decides to follow home country practice, and (b) unless the Company decides to follow home country practice,
shareholder approval is required for any amendment to the Plan that (i) increases the number of Shares available under the Plan (other than any adjustment as provided by Article 9), or (ii) permits the Committee to extend the term of the
Plan or the exercise period for an Option beyond ten years from the date of grant. 
 12.2 Awards Previously Granted. Except with
respect to amendments made pursuant to Section 12.1, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the
Participant. 
 ARTICLE 13 

GENERAL PROVISIONS 
 13.1
No Rights to Awards. No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, employees, and other persons
uniformly. 
 13.2 No Shareholders Rights. No Award gives the Participant any of the rights of a Shareholder of the Company unless
and until Shares are in fact issued to and registered in the name of such person in connection with such Award. 
 13.3 Taxes. No
Shares shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or
any Subsidiary shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required
or permitted by Applicable Laws to be withheld with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to
elect to have the Company withhold Shares otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares
which may be withheld with respect to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy
any income and payroll tax liabilities applicable to the Participant with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair
Market Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental
taxable income. 

  
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 13.4 No Right to Employment or Services. Nothing in the Plan or any Award Agreement shall
interfere with or limit in any way the right of the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the employment or services of any Service
Recipient. 
 13.5 Unfunded Status of Awards. The Plan is intended to be an “unfunded” plan for incentive compensation.
With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any
Subsidiary. 
 13.6 Indemnification. To the extent allowable pursuant to Applicable Laws, each member of the Committee or of the
Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action, suit, or proceeding to
which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or
proceeding against him or her; provided he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power
that the Company may have to indemnify them or hold them harmless. 
 13.7 Relationship to other Benefits. No payment pursuant to the
Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly
provided in writing in such other plan or an agreement thereunder. 
 13.8 Expenses. The expenses of administering the Plan shall be
borne by the Company and its Subsidiaries. 
 13.9 Titles and Headings. The titles and headings of the Sections in the Plan are for
convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

13.10 Fractional Shares. No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall
be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate. 
 13.11
Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any Participant who is then subject to Section 16 of the Exchange Act, shall
be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements
for the application of such exemptive rule. To the extent permitted by the Applicable Laws, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 

  
 17 

 13.12 Government and Other Regulations. The obligation of the Company to make payment of
awards in Shares or otherwise shall be subject to all Applicable Laws, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the
Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company may
restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such exemption. 
 13.13
Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the Cayman Islands. 
 13.14
Section 409A. To the extent that the Committee determines that any Award granted under the Plan is or may become subject to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions
required by Section 409A of the Code. To the extent applicable, the Plan and the Award Agreements shall be interpreted in accordance with Section 409A of the Code and the U.S. Department of Treasury regulations and other interpretative guidance
issued thereunder, including without limitation any such regulation or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the
Committee determines that any Award may be subject to Section 409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such
amendments to the Plan and the applicable Award agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or
appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related
U.S. Department of Treasury guidance. 
 13.15 Appendices. The Committee may approve such supplements, amendments or appendices to
the Plan as it may consider necessary or appropriate for purposes of compliance with Applicable Laws or otherwise and such supplements, amendments or appendices shall be considered a part of the Plan; provided, however, that no such supplements
shall increase the share limitation contained in Section 3.1 of the Plan without the approval of the Board. 

  
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