Document:

EX-10.30

 Exhibit 10.30 

LIXIANG EDUCATION HOLDING CO., LTD. 

2020 EQUITY INCENTIVE PLAN 

1. Purposes of this Plan. The purposes of this Plan are to attract and retain the best available personnel for positions of substantial
responsibility, to provide additional incentive to Employees, Directors and Consultants (each a “Service Provider” and, together, the “Service Providers”) and to promote the success of the Company’s business.
This Plan permits the grant of an Option, Restricted Shares, Restricted Share Units and Local Awards. 
 2. Definitions. As used
herein, the following definitions will apply: 
 (a) “Administrator” means the Board, a Committee or any subcommittee or
specified Officers to whom the Board or Committee delegates its administrative authority consistent with Applicable Laws and in accordance with Section 4 of the Plan. 

(b) “Applicable Laws” means any applicable legal requirements relating to the administration of and the issuance of
equity-based awards under the applicable laws of any country or jurisdiction in connection with the granting, vesting and/or exercising of Awards under this Plan, including, without limitation, the requirements of the laws of the PRC, U.S. federal
and state securities laws, the Code, the laws of the Cayman Islands, and the requirements of any stock exchange or quotation system upon which the Shares may be listed or quoted and the applicable laws of any country or jurisdiction where Awards are
granted under the Plan. For all purposes of this Plan, references to statutes and regulations shall be deemed to include any successor statutes or regulations, where necessary as determined by the Administrator. 

(c) “Award” means, individually or collectively, a grant under this Plan of an Option, Restricted Shares, Restricted Share
Units or Local Awards. 
 (d) “Award Agreement” means the written or electronic agreement setting forth the terms and
provisions applicable to each Award granted under this Plan. The Award Agreement is subject to the terms and conditions of this Plan. 
 (e)
“Board” means the Board of Directors of the Company. 
 (f) “Change in Control” means the occurrence of
any of the following events: 
 (i) Any person (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) is or becomes the
beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities; or 

 (ii) The individuals who, as of the date of grant, constituted the Company’s Board of
Directors (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual (other than any individual whose initial assumption of office is in
connection with an actual or threatened election contest (as such term is used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act)) becoming a Director subsequent to the date of grant of an
award, whose election, or nomination for election by the stockholders of the Company, was approved by a vote of at least a majority of the Directors then comprising the Incumbent Board, shall be considered as though such individual was a member of
the Incumbent Board; or 
 (iii) The consummation of the sale or disposition by the Company of all or substantially all of the
Company’s assets; or 
 (iv) The consummation of a merger, amalgamation or consolidation of the Company with any other corporation or
business entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or
consolidation. 
 Anything in the foregoing to the contrary notwithstanding, a transaction shall not constitute a Change in Control if its
sole purpose is to change the legal jurisdiction of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the Persons who held the Company’s Securities immediately before
such transaction. In addition, a sale by the Company of its Securities in a transaction, the primary purpose of which is to raise capital for the Company’s operations and business activities including, without limitation, a Qualified IPO, shall
not constitute a Change in Control. 
 (g) “Code” means the U.S. Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder. Any reference to a section of the Code herein will be a reference to any successor or amended section of the Code. 

(h) “Committee” means the compensation committee of the Board or such other committee satisfying Applicable Laws appointed by
the Board to administer the Plan, in accordance with Section 4 of the Plan. 
 (i) “Company” means Lixiang Education
Holding Co., Ltd., an exempted company incorporated in the Cayman Islands, or any successor thereto. 
 (j) “Consultant”
means any person, including an advisor, engaged by the Company or any Subsidiary to render services to such entity. 
 (k)
“Director” means a member of the Board. 
 (l) “Disability” means, unless determined otherwise by the
Administrator, a disability that entitles the Participant to benefits under the Company’s long-term disability plan, if any, and in the absence of such a plan, the Participant being unable to engage in any substantial gainful activity by reason
of a medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

  
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 (m) “Employee” means any person employed by the Company or any Subsidiary
of the Company (including any Variable Interest Entity). Neither service as a Non-Employee Director nor payment of a Director’s fee by the Company will be sufficient to constitute “employment”
by the Company. 
 (n) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 (o) “Fair Market Value” means, as of any date, the value of the Shares determined as
follows: 
 (i) If the Shares are listed on any established stock exchange or a national market system, the Fair Market Value (on a per
Share basis) will be the closing sales price for such Shares (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable; 
 (ii) If the Shares are regularly quoted by a recognized securities dealer but selling prices are not
reported, the Fair Market Value (on a per Share basis) will be the mean between the high bid and low asked prices for the Shares on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last trading date
such bids and asks were reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(iii) For purposes of any Awards granted on the date of a Qualified IPO, the Fair Market Value (on a per Share basis) will be the initial
price to the public as set forth in the final prospectus for the initial public offering of Shares; or 
 (iv) In the absence of an
established market for the Shares, the Fair Market Value will be determined in good faith by the Administrator in accordance with Applicable Laws. 

(p) “Liquidity Event” means the occurrence of (i) a Qualified IPO or (ii) a Change in Control; provided,
however, that the Board may determine that a particular transaction is or is not a Liquidity Event notwithstanding that the transaction falls within the foregoing definition. 

(q) “Local Award” shall have the meaning ascribed thereto in Section 9 of this Plan. 

(r) “Lock-Up Agreement” shall have the meaning ascribed thereto in Section 13(d)
of this Plan. 
 (s) “Non-Employee Director” means a member of the Board who is not
an Officer or Employee. 
 (t) “Officer” means a person who is an officer of the Company, as determined by the Board. 

(u) “Option” means a share option granted pursuant to this Plan. 

  
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 (v) “Participant” means the holder of an outstanding Award. 

(w) “Person” means any individual, partnership, firm, corporation, association, trust, unincorporated organization or other
entity, as well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of the Exchange Act. 
 (x)
“Plan” means this 2020 Equity Incentive Plan, as it may be amended from time to time. 
 (y) “Plan Limit”
shall have the meaning ascribed thereto in Section 3(a) of this Plan. 
 (z) “PRC” means the People’s
Republic of China, which, for the purposes of this Plan, shall exclude the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan. 

(aa) “PRC Requirements” shall have the meaning ascribed thereto in Section 15 of this Plan. 

(bb) “PRC Plan Agent” means a Subsidiary of the Company registered in the PRC as determined by the Administrator. 

(cc) “PRC Plan Registration” means any and all regulatory approvals, registrations, filings and other formalities required
under the Applicable Laws in connection with a PRC citizen or resident’s participation in an employee equity incentive plan of a company incorporated outside of China, including without limitation, the registration of such employee incentive
plan and its participants with the State Administration of Foreign Exchange or its competent local branch. 
 (dd) “Qualified
IPO” means the closing of an underwritten initial public offering of the Shares (i) pursuant to an effective registration statement under the Securities Act or (ii) on the basis of an approved prospectus and/or pursuant to a valid
registration, qualification or filing under Applicable Law of another jurisdiction, in each case of the Shares or other equity securities of the Company; provided, however, that a Qualified IPO shall not include a registration relating
solely to employee benefit plans or to a Rule 145 transaction under the Securities Act or to similar registrations under Applicable Law of another jurisdiction. 

(ee) “Restriction Period” shall have the meaning ascribed thereto in Section 7(d)(i) of this Plan. 

(ff) “Restricted Shares” means Shares issued and allotted pursuant to a Restricted Share award under Section 7 of this
Plan, or issued and allotted pursuant to the early exercise of an Option. 
 (gg) “Restricted Share Unit” means a
bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 8 of this Plan. Each Restricted Share Unit represents an unfunded and unsecured obligation of the Company. 

  
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 (hh) “Securities” means any equity interest in, or shares of any class in
the share capital (equity, preferred or otherwise) of, the Company and any convertible securities, options, warrants and any other type of equity or equity-linked securities convertible, exercisable or
exchangeable for any such equity interest or shares of any class in the share capital of the Company. 
 (ii) “Service
Provider” or “Service Providers” shall have the meaning ascribed thereto in Section 1 of this Plan. 
 (jj)
“Share” means ordinary shares of US$0.0001 par value in the share capital of the Company, as adjusted in accordance with Section 13 of this Plan. 

(kk) “Shareholder” means a person whose name is entered in the Register of Members of the Company as the holder of one or
more shares in the capital of the Company. 
 (ll) “Subsidiary” means any corporation, partnership, limited liability
company, or other organization, whether incorporated or unincorporated, which is controlled by the Company. 
 (mm) “Successor
Plan” means in the event of a Change in Control where Awards are assumed or replaced by substituted awards, the successor plan applicable to assumed Awards and/or new substituted awards. 

(nn) “Termination of Service” shall have the meaning ascribed thereto in Section 6(d)(iii) of this Plan. 

(oo) “Triggering Event” means the later to occur of (i) a Liquidity Event and (ii) if so determined by the
Administrator at or before the time of a Liquidity Event in order for the issuance of Shares to comply with Applicable Laws, the completion of the PRC Plan Registration of this Plan or a Successor Plan prior to or following a Liquidity Event. 

(pp) “Triggering Event Exercise Period” means: 

(i) in the event of a Change of Control, whichever of the following two periods expires later: (x) the ninety (90) day period
commencing on a Change in Control and (y) the ninety (90) day period commencing on the completion of the PRC Plan Registration of this Plan or the Successor Plan, if necessary to comply with Applicable Law; and 

(ii) in the event of a Qualified IPO, whichever of the following two periods expires later: (x) the thirty (30) day period
commencing on the expiration of the Lock-Up Agreement period and (y) the ninety (90) day period commencing on the completion of the PRC Plan Registration of this Plan or the Successor Plan, if
necessary to comply with Applicable Law to permit the issue and allotment of Shares. 
 (qq) “Variable Interest Entity”
means an entity in which the Company (or its subsidiaries) has variable interest(s) (including ownership interests, contractual arrangements or any other type of financial interests) not based on having the majority of voting rights, by virtue of
which the Company (or its subsidiaries) controls the entity such that the Company (or its subsidiaries) (i) has the power to direct the entity’s activities that significantly impacts the entity’s business and (ii) has the
obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the entity. 

  
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 3. Shares Subject to this
Plan. 
 (a) Shares Subject to this Plan. Subject to the provisions of
Section 13 of this Plan, the maximum aggregate number of Shares that may be issued for all purposes under the Plan shall be 5,000,000 (the “Plan Limit”). Shares to be issued under the Plan may be authorized and unissued Shares,
issued Shares that have been repurchased by the Company and that are being held in treasury, or a combination thereof. 
 (b) Automatic
Share Reserve Increase. Subject to the provisions of Sections 13 and 19 of the Plan, the number of Shares available for issuance under the Plan will be increased (i) on the first calendar day of the fiscal year immediately following the
fiscal year in which a Qualified IPO is consummated, by an amount equal to 0.5% of the total number of Shares issued and outstanding on the last calendar day of the immediately preceding fiscal year, and (ii) on the first calendar day of each
fiscal year during the period beginning with the second fiscal year following the fiscal year in which a Qualified IPO is consummated, by an amount equal to 1% of the total number of Shares issued and outstanding on the last calendar day of the
immediately preceding fiscal year. 
 (c) Rules Applicable to Determining Shares Available for Issuance. The number of reserved
Shares remaining available for issuance will be reduced by the number of Shares subject to outstanding Awards. For purposes of determining the number of Shares that remain available for issuance under the Plan, the number of Shares that are tendered
by a Participant or withheld by the Company to pay the exercise price of an Option or to satisfy the Participant’s tax withholding obligations in connection with an Award, shall not be added back to the Plan Limit. However, for purposes of
determining the number of Shares that remain available for issuance under the Plan, the number of Shares corresponding to an Option under the Plan that are forfeited or cancelled or otherwise expire for any reason without having been exercised shall
be added back to the Plan Limit and again be available for the grant of Awards. Similarly, if and to the extent an Award of Restricted Shares or Restricted Share Units is cancelled or forfeited for any reason, the Shares subject to that Award shall
be added back to the Plan Limit and again be available for the grant of Awards. The Shares underlying any cash-settled Award of Restricted Share Units shall not be added back to the Plan Limit. In contrast, and for the avoidance of doubt, the Shares
underlying any Local Awards settled in cash shall not be counted against the Plan Limit. 
 (d) Limits on Awards to Non-Employee Directors and Other Service Providers. After the occurrence of a Qualified IPO, the aggregate grant date fair value (as determined in accordance with FASB ASC Topic 718 or any successor provision)
of all Awards granted during any calendar year to (i) any Non-Employee Director shall not exceed US$500,000 and (ii) any other Service Provider shall not exceed US$500,000. 

(e) Share Reserve. The Company, during the term of this Plan, will at all times keep available such number of unissued Shares in its
authorized share capital available for issue as will be sufficient to satisfy the requirements of this Plan. 

  
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 4. Administration of the Plan. 

(a) Administration. Other than as provided in the remainder of this Section 4(a), the Plan will be administered by (i) the
Board or (ii) a Committee, which Committee will be constituted to satisfy Applicable Laws. 
 (b) Multiple Administrative
Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan. 
 (c) Delegation of
Authority. Except to the extent prohibited by Applicable Law, the Administrator may, from time to time, delegate limited authority over the day-to-day administration
of the Plan to such other subcommittees or specified Officers as it deems necessary, appropriate or advisable under such conditions or limitations as it may set at the time of such delegation or thereafter. Such delegation may be revoked at any
time. 
 (d) Powers of the Administrator. Subject to the provisions of this Plan, and in the case of a Committee, subject to the
specific duties delegated by the Board to such Committee, the Administrator will have the authority: 
 (i) to determine the Fair Market
Value; 
 (ii) to determine eligibility for Plan participant and select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under this Plan; 

(v) to determine the terms and conditions of any Award granted hereunder. Such terms and conditions include, but are not limited to, the
exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, cancellation or repurchase restrictions, and any restriction or limitation
regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 
 (vi) to
construe and interpret the terms of this Plan and Awards granted pursuant to this Plan; 
 (vii) to prescribe, amend and rescind rules and
regulations relating to this Plan, including rules and regulations relating to sub-plans and/or Local Awards established for the purpose of satisfying Applicable Laws, including, without limitation, the
Exchange Act, the Securities Act and PRC Requirements, and/or qualifying for preferred tax treatment under Applicable Laws, including, without limitation, the Code; 

(viii) to modify or amend each Award (subject to Section 20 of this Plan), including but not limited to (A) the discretionary
authority to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option and (B) accelerate the satisfaction of any vesting or exercisability criteria or waiver of forfeiture, cancellation or
repurchase restrictions; 

  
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 (ix) to allow Participants to satisfy withholding tax obligations in such manner as
prescribed in Section 16 of this Plan; 
 (x) to authorize any person to execute on behalf of the Company any instrument required to
effect the grant of an Award previously granted by the Administrator; 
 (xi) to allow a Participant to defer the receipt of the payment of
cash or the issuance of Shares that would otherwise be due to such Participant under an Award; 
 (xii) to determine whether Awards will be
settled in Shares, cash or in any combination thereof; 
 (xiii) to determine whether Awards will be adjusted for dividend equivalents;

 (xiv) to establish a program whereby Service Providers designated by the Administrator can reduce compensation otherwise payable in cash
in exchange for Awards under the Plan; 
 (xv) to impose such restrictions, conditions or limitations as it determines appropriate as to
the timing and manner of any resales by a Participant or other subsequent transfers by the Participant of any Shares issued as a result of or under an Award, including without limitation, (A) restrictions under an insider trading policy and
(B) restrictions as to the use of a specified brokerage firm for such resales or other transfers; and 
 (xvi) to make all other
determinations deemed necessary or advisable for administering this Plan. 
 (e) Plan Construction and Interpretation. The
Administrator shall have full power and authority, subject to the express provisions hereof, to construe and interpret the Plan. The Administrator’s decisions, determinations and interpretations in carrying out and administering the Plan and in
construing and interpreting the Plan shall be made in the Administrator’s sole discretion and shall be final, binding and conclusive for all purposes and upon all persons interested herein. 

(f) Liability of Administrator. Subject to Applicable Laws: (i) no member of the Administrator (or its delegates) shall be liable
for any good faith action or determination made in connection with the operation, administration or interpretation of the Plan and (ii) the members of the Administrator (and its delegates) shall be entitled to indemnification and reimbursement
in the manner provided in the Company’s governing documents, as they may be amended from time to time. In the performance of its responsibilities with respect to the Plan, the Administrator shall be entitled to rely upon information and/or
advice furnished by the Company’s Officers or Employees, the accountants of the Company or the Administrator, the counsel of the Company or the Administrator and any other party the Administrator deems necessary, and no member of the
Administrator shall be liable for any action taken or not taken in reliance upon any such information and/or advice. 

  
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 (g) Action by the Board. Anything in the Plan to the contrary notwithstanding,
subject to Applicable Laws, any authority or responsibility that, under the terms of the Plan, may be exercised by a Committee or the delegate of such Committee may alternatively be exercised by the Board. 

5. Eligibility. Awards may be granted to Service Providers. Neither the Plan nor any Award shall confer upon a Participant any right
with respect to continuing his or her relationship as a Service Provider, nor shall they interfere in any way with the right of the Participant or the right of the Company or its Parent or Subsidiaries to terminate such relationship at any time,
with or without cause. 
 6. Share Option. 

(a) Share Option Award Agreement. Each Award of an Option will be evidenced by an Award Agreement that will specify the vesting and
exercise terms of such Award, the number of Shares that may be issued upon exercise of an Option, any restrictions or limitations regarding the Option, and such other terms and conditions as the Administrator will determine. The terms of an Option
may vary among Participants, and the Plan does not impose upon the Administrator any requirement to make each Award of an Option subject to uniform terms. Accordingly, the terms of individual Award Agreements may vary. 

(b) Term of Option. Unless the Administrator provides otherwise in the applicable Award Agreement, the term of an Option will be ten
(10) years. 
 (c) Option Exercise Price and Consideration. 

(i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by
the Administrator; provided, however, that the per Share exercise price will be no less than the par value of a Share. 

(ii) Vesting and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option shall
vest and may be exercised and will determine any conditions that must be satisfied before the Option may vest or be exercised. Unless specified otherwise in the Award Agreement, and subject to the other provisions of the Plan, including, without
limitation, Section 6(d) and Section 13(c) of the Plan, one-half (1/2) of the Shares subject to an Award will vest on each of the first and second annual anniversaries of the vesting commencement
date. The Administrator may accelerate the Vesting of an Award at any time. Notwithstanding the foregoing, unless the Administrator provides otherwise, no Option will be permitted to be exercised prior to the occurrence of a Triggering Event. For
the avoidance of doubt, any Awards granted after the occurrence of a Triggering Event shall become vested and exercisable only as set forth in the applicable Award Agreement and in accordance with this Section 6(d)(iv). The Administrator shall
notify Participants as soon as practicable following the occurrence of a Triggering Event. 

  
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 (iii) Form of Consideration. The Administrator will determine the acceptable form of
consideration for exercising an Option, including the method of payment. Such consideration may consist entirely of: (A) cash; (B) check; (C) promissory note, to the extent permitted by Applicable Laws, (D) other Shares, provided that
such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided that accepting such Shares will not result in any adverse accounting
consequences to the Company, as the Administrator determines; (E) consideration received by the Company under a broker-assisted (or other) cashless exercise program (whether through a broker or otherwise) implemented by the Company in
connection with this Plan; (F) by net exercise; (G) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws; or (H) any combination of the foregoing methods of payment. 

(d) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Shareholder. Any vested portion of the Option granted hereunder will be exercisable according
to the terms of this Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement; provided, however, that unless the Administrator provides otherwise in an Award Agreement,
or except as provided in Section 13(c) of this Plan, an Option may not be exercised prior to a Triggering Event. An Option will be deemed exercised when the Company receives: (A) a notice of exercise (in such form as the Administrator may
specify from time to time) from the person entitled to exercise the Option, (B) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding taxes) and (C) all representations,
indemnifications, and documents reasonably requested by the Administrator including, without limitation, any shareholders agreement; provided, that such exercise complies with the terms of this Plan and the applicable provisions of the
applicable Award Agreement. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued and allotted upon exercise of an Option will be issued
in the name of the Participant or, if requested by the Participant, in the name of the Participant and his or her spouse. Exercising an Option in any manner will decrease the number of Shares thereafter available for sale under the Option, by the
number of Shares as to which the Option is exercised. An Option may not be exercised for a fraction of a Share. 
 (ii) Rights of a
Shareholder. Until Shares are issued and allotted (as evidenced by the appropriate entry in the Register of Members of the Company), no right to receive dividends or any other rights as a Shareholder will exist with respect to the Shares subject
to an Option, notwithstanding the exercise of the Option. Subject to subsection (vi) below, the Company will issue and allot (or cause to be issued and allotted) Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the Shares are issued and allotted, except as provided in Section 13 of this Plan. 

(iii) Termination of Relationship as a Service Provider Prior to the Occurrence of a Triggering Event. If a Participant ceases to be a
Service Provider (“Termination of Service”) prior to the occurrence of a Triggering Event, any vested Option held by such Participant shall remain outstanding for such period of time as is specified in the Award Agreement (but in no
event following the expiration of the term of such Option as set forth in the Award Agreement), and, in the absence of a specified time in the Award Agreement, such vested Option shall remain outstanding following the Termination of Service until
the expiration of the Triggering Event Exercise Period; provided, however, that in the event of Termination of Service due to death or Disability of such Participant within the three (3) month period preceding a Triggering Event,
the periods referenced in the Triggering Event Exercise Period shall be extended to twelve (12) months. Unless otherwise provided by the Administrator, on the date of Termination of Service, the Shares covered by any unvested Option will revert
to this Plan. If after the Termination of Service the Participant does not exercise any vested Option within the time specified by the Administrator (and in the absence of any such specification, within the foregoing default periods), such Option
will terminate, and the Shares covered by such Option will revert to this Plan. 

  
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 (iv) Termination of Relationship as a Service Provider After the Occurrence of a
Triggering Event. In the event of a Participant’s Termination of Service after the occurrence of a Triggering Event, any vested Option shall remain exercisable for such period as is specified in the Award Agreement, and, in the absence of a
specified time in the Award Agreement, an Option shall remain outstanding for twelve (12) months in the event of Termination of Service due to death or Disability of such Participant and three (3) months otherwise; provided,
however, an Option shall cease to be outstanding and shall no longer be exercisable ten (10) years from the date the Option is granted. Unless otherwise provided by the Administrator, on the date of Termination of Service, the Shares
covered by any unvested Option will revert to this Plan. If after Termination of Service the Participant does not exercise any vested Option within the time specified by the Administrator (and in the absence of any such specification, within the
foregoing default periods), such Option will terminate, and the Shares covered by such Option will revert to this Plan. 
 (v) Exercise
upon death. In the event of the Participant’s death, the Participant’s Option, to the extent vested and exercisable, may be exercised by the Participant’s designated beneficiary, provided such beneficiary has been designated prior
to the Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been designated by the Participant, then the Participant’s Option may be exercised by the personal representative of the Participant’s
estate or by the person(s) to whom the Participant’s Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option
will remain exercisable for twelve (12) months following the Participant’s death. Unless otherwise provided by the Administrator, if at the time of death the Participant is not vested as to his entire Option, the Shares covered by the
unvested portion of the Option will immediately revert to the Plan. If the Option is not exercised as to all of the vested Awarded Shares within the time specified by the Administrator, the Option will terminate, and the remaining Shares covered by
such Option will revert to the Plan. 
 (vi) Issuance of Shares. Notwithstanding anything herein to the contrary, upon the exercise
of an Option, the Administrator shall have to discretion to provide for payment in cash or property of equivalent value in lieu of the Shares that otherwise would be issued. 

7. Restricted Shares. 

(a) Issue and Allotment of Restricted Shares. Subject to the terms and provisions of the Plan, the Administrator, at any time and from
time to time, may issue and allot Restricted Shares to Service Providers in such amounts as the Administrator will determine. Notwithstanding anything herein to the contrary, the Administrator may place restrictions on the issuance and allotment of
Restricted Shares and until the PRC Plan Registration is complete or as otherwise required in accordance with Applicable Laws. 

  
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 (b) Restricted Share Award Agreement. Each Award of Restricted Shares will be
evidenced by an Award Agreement that will specify the Restriction Period, the number of Shares issued and allotted, and such other terms and conditions as the Administrator will determine. The prospective recipient of an Award of Restricted Shares
will not have any rights with respect to such Award, unless and until such recipient has delivered to the Company an executed Award Agreement and has otherwise complied with the applicable terms and conditions of such Award. The Administrator shall
designate an escrow agent to hold Restricted Shares until the restrictions on such Shares have lapsed. 
 (c) Certificates. Any share
certificate issued in connection with an Award of Restricted Shares will be registered in the name of the Participant receiving the Award, and will bear the following legend and/or any other legend required by this Plan, any shareholders agreement
among Shareholders of the Company, the Award Agreement or by Applicable Law: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR QUALIFIED OR REGISTERED UNDER STATE SECURITIES OR BLUE SKY LAWS. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION, AND NEITHER THESE SECURITIES NOR ANY INTEREST
OR PARTICIPATION THEREIN MAY BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR DISPOSED OF EXCEPT IN COMPLIANCE WITH THE SECURITIES ACT OF 1933, AS AMENDED, APPLICABLE STATE SECURITIES OR BLUE SKY LAWS AND THE APPLICABLE
RULES AND REGULATIONS THEREUNDER. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE
STATE SECURITIES LAWS. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF
FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE RESTRICTED SHARE AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER
RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 Share certificates evidencing Restricted Shares will be held in
custody by the Company or in escrow by an escrow agent until the restrictions thereon have lapsed. 

  
 -12- 

 (d) Restrictions and Conditions. The Award Agreement evidencing the grant of any
Restricted Shares will incorporate the following terms and conditions and such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator deems appropriate: 

(i) Restriction Period. During a period commencing with the date of an Award of Restricted Shares and ending on the later to occur of
(i) such time or times as specified by the Award Agreement (the “Restriction Period”) or (ii) a Triggering Event, the Participant will not be permitted to sell, transfer, pledge, assign or otherwise encumber Restricted
Shares awarded under the Plan. The Administrator may condition the lapse of restrictions on Restricted Shares upon the continued employment or service of the recipient, the attainment of specified individual or corporate performance goals, or such
other factors as the Administrator may determine. Unless specified otherwise in the Award Agreement, and subject to the other provisions of the Plan, including, without limitation, this Section 7 and Section 13(c) of the Plan, one-half (1/2) of the Restricted Shares subject to an Award will vest, and the restrictions on those Shares will lapse, on each of the first and second annual anniversaries of the vesting commencement date. 

(ii) Termination of Service. Subject to the provisions of the applicable Award Agreement or as otherwise determined by the
Administrator, in the event of a Participant’s Termination of Service prior to the expiration of the applicable Restriction Period, the Participant’s Restricted Shares then remaining subject to forfeiture will be forfeited automatically.

 (iii) Removal of Restrictions. Upon the later to occur of (i) the expiration of the Restriction Period without a prior
forfeiture or repurchase by the Company of the Restricted Shares subject to such Restriction Period or (ii) a Triggering Event, the Restricted Shares will be released from escrow and any certificates for such Shares will be replaced with new
certificates, without the restrictive legends described in Section 7(c) applicable to such lapsed restrictions, and such new certificates will be delivered to the Participant, the Participant’s representative (if the Participant has
suffered a Disability), or the Participant’s estate or heir (if the Participant has died). Notwithstanding the foregoing, the Administrator may accelerate the time at which any restrictions will lapse or be removed. 

(e) Dividends and Other Distributions. During the Restriction Period, Service Providers holding Restricted Shares will be entitled to
receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise and except as required to comply with Applicable Laws, including the PRC Requirements. If any such dividends or distributions
are paid in Shares, the Shares will be subject to the same restrictions and provisions on transferability and repurchase by the Company as the Restricted Shares with respect to which they were paid until such restrictions on the Restricted Shares
have lapsed or been removed in accordance with Section 7(d) of this Plan. 
 (f) Return of Restricted Shares to Company. On the
date set forth in the Award Agreement, the Restricted Shares for which restrictions have not lapsed will be subject to repurchase by the Company and, if so repurchased, again will become available for grant under this Plan. 

  
 -13- 

 8. Restricted Share Units. 

(a) Grant. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Restricted
Share Units to Service Providers and may impose conditions on such units as it may deem appropriate, including, without limitation, the continued employment or service of the recipient or the attainment of specified individual or corporate
performance goals. Notwithstanding anything in this Plan to the contrary, the Administrator may place restrictions on the grant and/or vesting of Restricted Share Units until the PRC Plan Registration is complete or as otherwise required in
accordance with Applicable Laws. 
 (b) Vesting Criteria and Other Terms. Each Restricted Share Unit shall be evidenced by an Award
Agreement that will specify the applicable vesting criteria, the number of Restricted Share Units granted, the terms and conditions relating to the time and form of payment and termination of units, and such other terms and conditions as the
Administrator will determine. Each Restricted Share Unit will represent a right to receive from the Company, upon fulfillment of any applicable conditions, an amount equal to the Fair Market Value (at the time of the distribution) of one Share. The
Participant shall not have any shareholder rights with respect to any Shares subject to a Restricted Share Unit until that Award vests and such Shares are actually issued thereunder and registered in the Company’s register of members. The
Participant will not be permitted to sell, transfer, pledge, assign or otherwise encumber Restricted Share Units awarded under the Plan. Subject to the provisions of the applicable Award Agreement, or as otherwise determined by the Administrator, if
a Participant’s service with the Company terminates prior to the Restricted Share Unit vesting, the Participant’s Restricted Share Units that then remain subject to forfeiture will then be forfeited automatically. 

(c) Form and Timing of Payment. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a
distribution in the form of cash and/or Shares as determined by the Administrator in accordance with Applicable Laws. Notwithstanding the foregoing, at any time after the grant of Restricted Share Units, the Administrator may reduce or waive any
vesting criteria that must be met to receive a payout. Unless the Administrator provides otherwise, no distributions of cash and/or Shares will be issued in settlement of vested Restricted Share Units before the occurrence of a Triggering Event.

 (d) Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Share Units will be forfeited to the
Company. 
 9. Other Local Awards. In order to comply with Applicable Laws, including any PRC Requirements, the Administrator may
cause a local PRC Subsidiary to grant local cash-settled awards in lieu of any other Award described hereunder, which such local awards shall be paid through local payroll and wholly funded by the local PRC Subsidiary (a “Local
Award”). Each Local Award shall be linked to the Fair Market Value of a Share of the Company. The terms and conditions of each Local Award shall be set forth in an Award Agreement in a form approved by the Administrator for such Local
Award, which Award Agreement shall contain terms and conditions not inconsistent with the Plan. 
 10. Leaves of Absence/Transfer Between
Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence
approved by the Company or (ii) transfers between locations of the Company or between the Company, any parent entity or any Subsidiary, unless determined otherwise by the Administrator. 

  
 -14- 

 11. Transferability of Awards. Unless determined otherwise by the Administrator, an
Award may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If
the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. Shares issued upon the exercise of an Option or in connection with the vesting of any Restricted
Shares or Restricted Share Units may be subject to such special forfeiture conditions, rights of repurchase or redemption, rights of first refusal, and other transfer restrictions as the Administrator may determine or as may apply to holders of
Shares pursuant to the Company’s articles of incorporation. 
 12. Voting Rights. The Awards and the Shares relating thereto
issued pursuant to the Plan shall only entitle the Participant to the economic rights of a Shareholder of the Company and shall not confer on the Participant any rights to vote on matters submitted to the Shareholders of the Company. 

13. Adjustments; Dissolution or Liquidation; Merger or Change in Control; Lock-Up Agreement.

 (a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other Securities or
other property), recapitalization, share division, share consolidation, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of
Shares or other Securities, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available
under this Plan, will adjust the number and class of shares that may be delivered under this Plan and/or the number, class (if applicable), and price of shares covered by each outstanding Award, and the numerical share limits in Section 3 of
this Plan. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the
Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such
proposed action. 
 (c) Change in Control. 

(i) In the event of a Change in Control, each outstanding Award will be treated as the Administrator determines, including, without
limitation, that each Award be assumed or an equivalent replacement award be substituted by the successor corporation or a parent or Subsidiary of the successor corporation. The Administrator will not be required to treat all Awards similarly in the
transaction. 
 (ii) In the event that the successor corporation does not assume or substitute for the Award, the Participant will fully
vest in and have the right to exercise all of his or her outstanding Option, including Shares as to which such Awards would not otherwise be vested or exercisable, and all restrictions on Restricted Shares, Restricted Share Units and Local Awards
will lapse. In addition, if an Option is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the Option will be exercisable for a period of time determined
by the Administrator, and the Option will terminate upon the expiration of such period. 

  
 -15- 

 (iii) For the purposes of this subsection (c), an Award will be considered assumed if,
following the Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, shares, cash or other securities or property)
received in the Change in Control by holders of Shares for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
outstanding Shares); provided, however, that if such consideration received in the Change in Control is not solely common stock or ordinary shares of the successor corporation or its parent, the Administrator may, with the consent of
the successor corporation, provide for the consideration to be received upon the exercise of an Option or a Local Award, or upon the payout of a Restricted Share or a Restricted Share Unit, for each Share subject to such Award, to be solely common
stock or ordinary shares of the successor corporation or its parent equal in fair market value to the per share consideration received by holders of Shares in the Change in Control. 

(d) Lock-Up Agreement. By exercising any right granted under this Plan, each Participant shall
be deemed to have agreed that, in connection with any underwritten public offering by the Company of its equity securities, including the Company’s initial public offering, such Participant will not sell, make any short sale of, loan,
hypothecate, pledge, grant any option for the repurchase of, or otherwise dispose or transfer for value or otherwise agree to engage in any of the foregoing transactions with respect to any Shares without the prior written consent of the Company or
its underwriters, for such period of time from and after the effective date of such registration statement as may be requested by the Company or such underwriters (the “Lock-Up Agreement”).

 14. PRC Registration Events. Upon the occurrence of a Qualified IPO or at any time prior, to the extent required or permitted by
Applicable Laws, the Administrator shall use reasonable efforts to cause the PRC Plan Agent to complete the PRC Plan Registration of this Plan to enable the outstanding Awards to be settled. 

15. PRC Requirements. Notwithstanding anything in this Plan or any applicable Award Agreement to the contrary, including without
limitation Section 20 of the Plan, the issuance, allotment, vesting and settlement of Awards and any transfers of Shares and/or cash in or out of the PRC shall be subject to the approval of the State Authority for Foreign Exchange or its
competent local branch, to the extent that such approval shall be required or advisable under Applicable Laws. Pursuant to PRC laws and regulations governing the participation of a PRC citizen or resident in an employee equity incentive plan of a
company incorporated outside of China (the “PRC Requirements”), local governmental authorities may review and examine the Plan from time to time and request that the Plan be modified, amended or cancelled in accordance with PRC
Requirements. If the Plan is modified, amended or cancelled, the rights of Participants under the Plan or pursuant to any Award Agreement issued hereunder may be materially and adversely affected. No compensation shall be due to a Participant in
respect of any such change in the Participant’s rights. 

  
 -16- 

 16. Tax. 

(a) Withholding Requirements. Subject to Applicable Laws, including without limitation the PRC Requirements, prior to the delivery of
any Shares or cash pursuant to an Award (or exercise thereof) or such earlier time as any tax withholding obligations are due, the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an
amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s employment tax obligation) required to be withheld with respect to such Award (or exercise thereof). 

(b) Withholding Arrangements. Subject to Applicable Laws, including without limitation the PRC Requirements, the Administrator,
pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i) paying cash, (ii) electing to have the Company withhold
otherwise deliverable cash or Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (iii) delivering to the Company already-owned Shares having a Fair Market Value equal to the minimum statutory
amount required to be withheld. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

17. No Effect on Employment or Service. Neither this Plan nor any Award will confer upon a Participant any right with respect to
continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without
cause, to the extent permitted by Applicable Laws. 
 18. Date of Grant. The date of grant of an Award will be, for all purposes, the
date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of
such grant. 
 19. Term of Plan. This Plan will become effective upon its adoption by the Board. It will continue in effect for a
term of ten (10) years from the date it becomes effective, unless terminated earlier under Section 20 of this Plan. 
 20.
Amendment and Termination of this Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or
terminate this Plan. 
 (b) Shareholder Approval. The Company will obtain Shareholder approval of any Plan amendment to the extent
necessary and desirable to comply with Applicable Laws, the Company’s memorandum of associations and articles of association and any shareholders agreement among Shareholders of the Company. 

(c) Effect of Amendment or Termination. Subject to compliance with Applicable Laws, including without limitation PRC Requirements, no
amendment, alteration, suspension or termination of this Plan will materially impair the rights of any Participant with respect to an Award outstanding at the time of the amendment, alteration, suspension or termination of the Plan, unless mutually
agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of this Plan will not affect the Administrator’s ability to exercise the powers
granted to it hereunder with respect to Awards granted under this Plan prior to the date of such termination. 

  
 -17- 

 21. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued and allotted pursuant to the exercise of an Award unless the exercise of such Award and
the issuance and allotment of such Shares will comply with Applicable Laws, including without limitation the PRC Requirements, and will be further subject to the approval of counsel for the Company with respect to such compliance if deemed necessary
by the Administrator. 
 (b) Investment Representations. As a condition to the exercise, vesting or settlement of an Award, the
Company may require the person exercising such Award or receiving rights to transfer or payment upon such vesting or settlement to represent and warrant at the time of any such exercise, vesting or settlement that the Shares are being acquired only
for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, any such representation is required. 

(c) Foreign Currency. A Participant may be required to provide evidence that any currency used to pay the exercise price of any Award
was acquired and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including without limitation foreign exchange control laws and regulations pursuant to the PRC Requirements. In the event the
exercise price for an Award is paid in Chinese Renminbi or other foreign currency, as permitted by the Administrator, 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 PRC, the exchange rate as selected by the Administrator on the date of exercise. 

22. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction or to
complete or comply with the requirements of any registration or other qualification of the Shares under any state, federal or foreign law or under the rules and regulations of the stock exchange on which the Shares of the same class are then listed,
or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Company’s counsel to be necessary or advisable for the issuance and sale of any Shares hereunder, will relieve the
Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority, registration, qualification or rule compliance will not have been obtained. 

23. Severability. Notwithstanding any contrary provision of the Plan or an Award to the contrary, if any one or more of the provisions
(or any part thereof) of this Plan or the Awards shall be held invalid, illegal, or unenforceable in any respect, such provision shall be modified so as to make it valid, legal, and enforceable, and the validity, legality, and enforceability of the
remaining provisions (or any part thereof) of the Plan or Award, as applicable, shall not in any way be affected or impaired thereby. 

  
 -18- 

 24. Sections 409A and 457A. Notwithstanding other provisions of the Plan or any
Option Agreement, no Award may be granted, deferred, accelerated, extended, paid out or modified under this Plan in a manner that would result in the imposition of an additional tax under Section 409A or Section 457A of the Code upon a
Participant. In the event that it is reasonably determined by the Board or, if delegated by the Board to the Administrator, by the Administrator that, as a result of Section 409A of the Code, payments in respect of any Award under the Plan may
not be made at the time contemplated by the terms of the Plan or the relevant Option Agreement, as the case may be, without causing the Participant holding such Award to be subject to taxation under Section 409A of the Code, including as a
result of the fact that the Participant is a “specified employee” under Section 409A of the Code, the Company will make such payment on the first day that would not result in the Participant incurring any tax liability under
Section 409A of the Code. The Company will use commercially reasonable efforts to implement the provisions of this Section 24 in good faith; provided that neither the Company, the Administrator nor any of the Company’s
Employees, Directors or representatives will have any liability to Participants with respect to this Section 24. 

  
 -19-EX-10.31

 Exhibit 10.31 

LIXIANG EDUCATION HOLDING CO., LTD. 

2020 EQUITY INCENTIVE PLAN 

RESTRICTED SHARE AGREEMENT 

THIS RESTRICTED SHARE AGREEMENT (this “Agreement”), dated ___________________, by and between Lixiang Education
Holding Co., Ltd., an exempted company with limited liability incorporated under the laws of the Cayman Islands (the “Company”), and __________________________ (the “Participant”) evidences a right (the
“Restricted Shares”) granted by the Company to the Participant to the number of the Company’s ordinary shares, par value US$0.0001 per share (the “Ordinary Shares”), first set forth below: 

 

			
	 Award Number: ________________

Number of Ordinary Shares: _________
	  	
	 Grant Date: __________________
	  	Vesting Commencement Date: ___________
	 Expiration Date: ________
	  	

 Vesting Subject to Section 2 of the Terms (as defined below),
one-half (1/2) of the total number of the Restricted Shares will vest on each of the first and second annual anniversaries of the Vesting Commencement Date. With respect to each Restricted Share, the period from the Grant Date to the applicable
vesting date is referred to as the “Restriction Period”. 
 The Restricted Shares are granted under the Lixiang Education
Holding Co., Ltd. 2020 Equity Incentive Plan (the “Plan”). The Restricted Shares are subject to the Terms and Conditions of the Restricted Shares (the “Terms”) attached to this Agreement and to the Plan, both of
which are incorporated herein by reference. The Participant agrees to be bound by the terms of the Plan and this Agreement (including the Terms). The Participant acknowledges having read and understood the Plan and this Agreement. Unless otherwise
expressly provided in other sections of this Agreement, provisions of the Plan that confer discretionary authority on the Board or the Administrator do not and shall not be deemed to create any rights in the Participant unless such rights are
expressly set forth herein or are otherwise in the sole discretion of the Board or the Administrator so conferred by appropriate action of the Board or the Administrator under the Plan after the date hereof. The Restricted Shares have been granted
to the Participant in addition to, and not in lieu of, any other form of compensation otherwise payable or to be paid to the Participant. Capitalized terms are defined in the Plan if not defined herein. The Participant acknowledges receipt of a copy
of this Agreement (including the Terms) and the Plan and agrees to maintain in confidence all information provided to him or her in connection with the Restricted Shares. 

									
	“PARTICIPANT”	 		 	Lixiang Education Holding Co., Ltd., an exempted company incorporated under the laws of the Cayman Islands
					
		 	 	 		 	By:	 	 
		 	Signature	 		 		 	
		 	 	 		 	Its: Authorized Representative
		 	Print Name	 		 		 	
		 	 	 		 		 	
		 	Address	 		 		 	
		 	 	 		 		 	
		 	City, State, Zip Code	 		 		 	

  
 2 

 CONSENT OF SPOUSE 

In consideration of the Company’s execution of this Agreement, the undersigned spouse of the Participant agrees to be bound by all of the
terms and provisions hereof and of the Plan. 
  

							
	 	 		 		 	 
	Signature of Spouse	 		 		 	Date

  
 3 

 TERMS AND CONDITIONS OF RESTRICTED SHARES 

1 Grant. Effective on the Grant Date, the Administrator grants to the Participant ____________ Ordinary Shares (the “Restricted
Shares”), in accordance with the provisions of the Plan, as may be amended from time to time, and the terms set forth herein. All terms used but not defined herein shall have the meanings assigned to them in the Plan. The Restricted Shares
shall be fully paid and non-assessable. 
 2 Continuance of Employment/Service Required; No
Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Restricted Shares and the rights and benefits
under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or
following a termination of employment or services as provided in Section 4 of these Terms or under the Plan. 
 Nothing contained in
this Agreement or the Plan constitutes a continued employment or service commitment by the Company or any of its Subsidiaries, affects the Participant’s status, if the Participant is an employee, as an employee at will who is subject to
termination without cause, confers upon the Participant any right to remain employed by or in service to the Company or any Subsidiary, interferes in any way with the right of the Company or any Subsidiary at any time to terminate such employment or
service, or affects the right of the Company or any Subsidiary to increase or decrease the Participant’s other compensation. 
 3
Leaves of Absence. During any leave of absence approved by the Company, the vesting of the Restricted Shares will be suspended if the Participant’s leave of absence exceeds thirty (30) days. Vesting in the Restricted Shares will
resume when the Participant returns to service to the Company or its Subsidiaries. The vesting schedule of the Restricted Shares will be extended for the length of the suspension. For avoidance of doubt, leave of absence does not include public
holidays or annual vacation and sick days allotted to the Participant in accordance with the terms of the Participant’s employment. 

4 Termination of Service. In the event of the termination of the Participant’s employment or service for the Company, for any
reason, whether such termination is occasioned by the Participant, or by the Company or any of its Subsidiaries (“Termination of Service”), the unvested Restricted Shares shall be subject to forfeiture and the Participant’s
right to vest in the Restricted Shares under the Plan, if any, will terminate effective as of the earlier of: (i) the date that the Participant gives or is provided with written notice of Termination of Service, or (ii) if the Participant
is an employee of the Company or any of its Subsidiaries, the date that the Participant is no longer actively employed and physically present on the premises of the Company or any of its Subsidiaries, regardless of any notice period or period of pay
in lieu of such notice required under any applicable statute or the common law (each, the “Notice Period”). To avoid confusion, the Participant has no right to vest in his or her Restricted Shares during the Notice Period. 

  
 4 

 5 Non-Transferability and Other Restrictions.
Except as otherwise stipulated in this Agreement or pursuant to the written consent of the Administrator, the Restricted Shares and any interests therein shall not, directly or indirectly, be offered, sold or transferred or disposed of (nor shall
the holder of any such Restricted Shares agree to do any of the foregoing) (collectively, a “Transfer”) prior to whichever is the later to occur of (a) the end of the Restriction Period or (b) the occurrence of a
Triggering Event. Any attempt to effectuate a Transfer shall immediately become null and void, and any unvested Restricted Shares shall immediately be forfeited. 

The Participant hereby acknowledges and agrees that the Administrator shall have the full and sole discretion as permitted by Applicable Laws
in deciding the extent to which, and stipulating terms and conditions under which, a Transfer of any Restricted Shares may be permitted prior to the later to occur of (a) the end of the Restriction Period or (b) a Triggering Event. In the
event of such a Transfer of part or all of the Restricted Shares held by the Participant, as consented to by the Administrator, the Participant hereby acknowledges and agrees that he or she will ensure that the transferee will be subject to and
comply with the same terms, conditions, requirements and restrictions as those imposed on the Participant by the Company and the Administrator in connection with the Restricted Shares granted hereunder. 

6 Rights as Shareholder. During the Restriction Period, the Participant will be entitled to receive all dividends and other
distributions paid with respect to the Restricted Shares, unless the Administrator provides otherwise and except as required to comply with Applicable Laws, including any Applicable Laws of the People’s Republic of China (the
“PRC”). If any such dividends or distributions are paid in Ordinary Shares, the Ordinary Shares will be subject to the same restrictions and provisions on transferability and repurchase by the Company as the Restricted Shares with
respect to which they were paid until such restrictions on the Restricted Shares have lapsed or been removed. The Participant hereby authorizes the Administrator (or its nominee) to hold all of the Restricted Shares in escrow for the
Participant’s benefit until the restrictions on such Shares have lapsed. 
 7 Securities Law Compliance. The Participant
acknowledges that the Restricted Shares have not been registered under any securities act (including the Securities Act), as each may be amended from time to time. The Participant, by executing this Agreement, hereby makes the following
representations to the Company and acknowledges that the Company’s reliance on applicable securities law exemptions from registration and qualification is predicated, in substantial part, upon the accuracy of these representations: 

(a) The Participant is acquiring the Restricted Shares solely for the Participant’s own account, for investment purposes only, and not
with a view to or an intent to sell, or to offer for resale in connection with any unregistered distribution, all or any portion of the shares within the meaning of any applicable securities laws. 

(b) The Participant has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the
Restricted Shares and the restrictions imposed on any vested Restricted Shares. The Participant has been furnished with, and/or has access to, such information as the Participant considers necessary or appropriate for deciding whether to acquire the
Restricted Shares. However, in evaluating the merits and risks of an investment in the Restricted Shares, the Participant has and will rely upon the advice of his/her own legal counsel, tax advisors, and/or investment advisors. 

  
 5 

 (c) The Participant is aware that the Restricted Shares may be of no practical value, that
any value they may have depends on the vesting of the Restricted Shares as well as an increase in the Fair Market Value of the Restricted Shares, and that any investment in the equity of a closely held entity such as the Company is non-marketable, non-transferable and could require capital to be invested for an indefinite period of time, possibly without return, and at substantial risk of loss. 

(d) The Participant understands that any Restricted Shares, whether vested or unvested, will be characterized as “restricted
securities” under the Securities Act, and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited circumstances, including in accordance with the
conditions of Rule 144 promulgated under the Securities Act, as presently in effect, with which the Participant is familiar. 
 (e) The
Participant has read and understands the restrictions and limitations set forth in the Plan and this Agreement (including these Terms), which are imposed on the Restricted Shares. 

(f) At no time was an oral representation made to the Participant relating to the Restricted Shares and the Participant was not presented with
or solicited by any promotional meeting or material relating to the Restricted Shares. 
 8
Lock-up Agreement. The Participant hereby agrees not to make a Transfer of vested Restricted Shares during the period commencing as of fourteen (14) days prior to and ending one hundred eighty
(180) days, or such lesser period of time as the relevant underwriters may permit, after (a) the occurrence of a Qualified IPO or (b) the effective date of a registration statement for a firm commitment underwritten public offering of
the Company’s Securities (a “Public Offering”) of which the Participant has notice. The Participant hereby further agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent against
the Transfer of the Company’s vested Restricted Shares beneficially owned by the Participant and to confirm the limitations hereunder by agreement with and for the benefit of the relevant underwriters by a
lock-up agreement or other agreement in customary form. Notwithstanding anything else herein to the contrary, this paragraph shall not be construed so as to prohibit the Participant from participating in a
Public Offering of the Ordinary Shares with respect to any shares which the Participant may hold at that time; provided, however, that such participation shall be at the sole discretion of the Board. 

9 Right of First Refusal. The Company shall have a right of first refusal, as set forth below, to purchase the Participant’s
vested Restricted Shares before the vested Restricted Shares (or any interest in them) can be validly transferred to any other person or entity. A Participant may not sell, transfer, dispose of or encumber unvested Restricted Shares (or of any
interest therein). For purposes of this Section 9, the term “Participant” includes, where the context so requires, any permitted direct or indirect transferee of the Participant. 

  
 6 

 (a) Notice of Intent to Sell. Before there can be a valid Transfer of any vested
Restricted Shares (or any interest in therein) by the Participant, the Participant shall first give notice in writing to the Company, mailed or delivered in accordance with the notice provisions of Section 14, of his or her intention to
Transfer such vested Restricted Shares (the “Option Notice”). 
 The Option Notice shall specify the identity of the
proposed transferee, the number of vested Restricted Shares to be sold or transferred to the transferee, the price per vested Restricted Share and the terms upon which the Participant intends to make such Transfer. If the payment terms for the
vested Restricted Shares described in the Option Notice differ from delivery of cash or a check at closing, the Company shall have the option, as set forth herein, of purchasing the vested Restricted Shares for cash (or a cash equivalent) at closing
in an amount which the Company determines is a fair value equivalent of the payment method set forth in the Option Notice. The determination of a fair value equivalent shall be made in the Company’s best judgment and such determination shall be
mailed or delivered to the Participant (the “Company’s Notice”) within ten (10) days of the Company’s receipt of the Option Notice. Should the Participant disagree with the Company’s determination of a fair value
equivalent, the Participant shall have the right (the “Retraction Right”) to retract the proposed Transfer to a third party and the offer of vested Restricted Shares to the Company pursuant to the Option Notice (such retraction to
be made in writing and mailed or delivered in accordance with the notice provisions of Section 14). If the Participant again proposes to Transfer the vested Restricted Shares, the Participant shall again offer such vested Restricted Shares to
the Company pursuant to the terms of this Section 9 prior to any Transfer. 
 (b) Option to Purchase. Subject to the
Participant’s Retraction Right, during the 60-day period commencing upon receipt of the Option Notice by the Company (the “Option Period”), the Company shall have an option to purchase
any or all of the vested Restricted Shares specified in the Option Notice at the price offered therein or at such alternative price as set forth in the Company’s Notice in accordance with Section 9(a) (the “Right of First
Refusal”). 
 (c) Purchase of Shares. Not more than thirty (30) days after receipt of the Option Notice, the Company
shall give written notice to the Participant of the number of such vested Restricted Shares to be purchased (or, if no vested Restricted Shares are to be purchased, stating such fact) by the Company pursuant to the terms of this Section 9 (the
“Purchase Notice”). Purchases pursuant to this Section 9 shall be consummated within thirty (30) days after delivery of the Purchase Notice to the Participant, but in no event later than the expiration of the Option
Period. The purchase price shall be paid at the closing in cash, by check, by cancellation of money purchase indebtedness, or, if the payment terms set forth in the Option Notice differ from payment in cash or by check at closing, in accordance with
the payment terms set forth in the Option Notice (or payment of the amount set forth in the Company’s Notice in cash, by cancellation of money purchase indebtedness or by check). The purchase price shall be paid against surrender by the
Participant of a share certificate evidencing the number of vested Restricted Shares specified in the Option Notice, with duly endorsed share powers, and the Company’s register of members will be updated accordingly to reflect the purchase by
the Company of the Participant’s shares. 

  
 7 

 (d) Ability to Sell Unpurchased Shares. Unless all of the vested Restricted Shares
referred to in the Option Notice are to be purchased as indicated in the Purchase Notice, the Participant may dispose of any vested Restricted Shares referred to in the Option Notice that are not to be purchased by the Company to the person or
persons specified in the Option Notice during a period of twenty (20) days commencing upon the Participant’s receipt of the Purchase Notice; provided, however, that (i) any such person specified in the Option Notice is
not a person listed under Exhibit A hereto, (ii) the Participant shall not Transfer such vested Restricted Shares at a lower price or on terms more favorable to the Participant or transferee than those specified in the Option Notice and
(iii) the Participant shall not Transfer such vested Restricted Shares to a person other than the person or persons specified in the Option Notice; and, provided, further, that such Transfer is consistent with the other provisions
and limitations of the Plan and this Agreement. If the Transfer is not consummated within such twenty (20) day period, the Participant shall again offer such vested Restricted Shares to the Company pursuant to the terms of this Section 9
prior to any Transfer to the same or any other person. 
 (e) Assignment. Notwithstanding anything to the contrary, the Company may
assign any or all of its rights under this Section 9 to one or more shareholders of the Company. 
 (f) Termination of Right of
First Refusal. The Company’s Right of First Refusal shall terminate upon the occurrence of a Triggering Event. 
 (g) No
Shareholder Rights Following Repurchase. If the Participant (or any permitted transferee) hold(s) vested Restricted Shares as to which the Right of First Refusal has been exercised (in connection with the termination of the Participant’s
employment or otherwise), the Participant shall be entitled to payment in accordance with the provisions of this Section 9, but (unless otherwise required by Applicable Law) shall no longer be entitled to participation in the Company or other
rights as a shareholder with respect to the vested Restricted Shares subject to the repurchase. To the maximum extent permitted by Applicable Law, the Participant’s rights following the exercise of the Right of First Refusal shall, with respect
to the repurchase and the vested Restricted Shares covered thereby, be solely the rights that the Participant has as a general creditor of the Company to receive payment of the amount specified in this Section 9. 

(h) No Transfer to the Detriment of the Company’s Interests. Notwithstanding anything to the contrary, the Participant shall not
transfer any vested Restricted Shares to any person or entity which transfer, in the sole discretion of the Company, will undermine the interests of the Company, including without limitation, any transfer of vested Restricted Shares to the
competitors of the Company (it being acknowledged that a list of such competitors shall be determined by the Administrator from time to time). 

  
 8 

 10 Withholding of Taxes. To the extent required by Applicable Law, the Company has
the authority to deduct or withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy all applicable federal, state, local and foreign taxes (including the Participant’s tax obligation) required by Applicable
Law to be withheld with respect to any taxable event arising from these Restricted Shares. At the Company’s election, the Participant may satisfy his or her tax obligation, in whole or in part, by either: (a) electing to have the Company
withhold Ordinary Shares otherwise to be delivered with a Fair Market Value equal to the tax withholding obligation; (b) surrendering to the Company previously owned Ordinary Shares with a Fair Market Value equal to the tax withholding
obligation; (c) allowing the Company to withhold the amount of the tax withholding obligation from the Participant’s cash compensation; or (d) paying the amount of the tax withholding obligation directly to the Company in cash. If the
Administrator determines that the Participant has not satisfied or performed his or her tax obligations, then the Administrator has the right, but not the obligation, to suspend the vesting of the Restricted Shares (the “Suspended
Period”) commencing upon the Participant’s failure or default until such time the Participant has fully satisfied or performed such tax obligations. For the avoidance of doubt: (i) the Administrator has discretion in determining
whether or not the Participant has satisfied or performed, fully or otherwise, his or her tax obligations; and (ii) after the vesting suspension is lifted, the time at which the specific number of the Restricted Shares may otherwise vest under
the original vesting schedule shall be postponed, in each case, by the same number of days that elapse during the Suspended Period. 
 11
Voluntary Participation. The Participant’s participation in the Plan is voluntary. The value of the Restricted Shares is an extraordinary item of compensation outside the scope of the Participant’s employment contract, if any. As
such, the Restricted Shares are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pensions or retirement benefits or similar
payments unless specifically and otherwise provided. 
 12 Discretionary Restricted Shares. This award of Restricted Shares is
granted under and governed by the terms and conditions of the Plan. The Participant acknowledges and agrees that the Plan is discretionary in nature and may be amended, canceled, or terminated by the Administrator, in its sole discretion, at any
time. The grant of Restricted Shares under the Plan is a one-time benefit and does not create any contractual or other right to receive an award of restricted shares or benefits in lieu of restricted shares in
the future. Future awards of restricted shares, if any, will be at the sole discretion of the Administrator, including, but not limited to, the timing of the award, the number of shares and vesting provisions. The Plan has been introduced
voluntarily by the Company and in accordance with the provisions of the Plan may be terminated by the Administrator at any time. By execution of this Agreement, the Participant consents to the provisions of the Plan and this Agreement. 

13 Adjustments. The Participant hereby acknowledges and confirms that in the event the Company decides to implement any other actions
affecting any of its Ordinary Shares, including share splits, reverse splits, spin-offs, combinations, exchanges or distribution of unusual/nonrecurring large dividends after the date of this Agreement, (i) the number of Restricted Shares
granted under this Agreement may be subject to adjustments in accordance with such actions and (ii) the Administrator shall have the sole discretion to make such adjustments. 

  
 9 

 14 Notices. Any notice required or permitted pursuant to this Agreement shall be
given in writing and shall be given either personally or by sending it by an internationally-recognized express courier service, fax, or electronic mail to the following applicable address: (i) if to the Company, at its principal executive
office to the attention of the Secretary, or (ii) if to the Participant, at the Participant’s last address reflected in the Company’s payroll records (or, in each case, at such other address as such party may designate by fifteen
(15) days’ advance written notice to the other parties to this Agreement given in accordance with this Section). Where a notice is sent by an internationally-recognized express courier service, service of the notice shall be deemed to be
effected by properly addressing, pre-paying and sending by express service through such service a letter containing the notice, with a confirmation of delivery, and to have been effected at the expiration of
three (3) days after the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic mail, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a
transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as aforesaid. 

15 Entire Agreement. This Agreement (including these Terms) and the Plan together constitute the entire agreement and supersede all
prior understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. The Plan and this Agreement may be amended pursuant to Sections 15 and 20 of the Plan. Such amendment must be in writing and
signed by the Company. The Company may, however, unilaterally waive any provision hereof in writing to the extent such waiver does not adversely affect the interests of the Participant hereunder, but no such waiver shall operate as or be construed
to be a subsequent waiver of the same provision or a waiver of any other provision hereof. 
 16 Satisfaction of All Rights to
Equity. The Restricted Shares granted pursuant to this Agreement are in complete satisfaction of any and all rights that the Participant may have (under an employment, consulting, or other written or oral agreement with the Company or any of its
Subsidiaries, or otherwise) to receive (1) options or share awards with respect to the Securities of the Company or any of its Subsidiaries, and/or (2) any other equity or derivative security in or with respect to the Company or any of its
Subsidiaries. This Agreement supersedes the terms of all prior understandings and agreements, written or oral, of the parties with respect to such matters. The Participant shall have no further rights or benefits under any prior agreement conveying
any right with respect to any security or derivative security in or with respect to the Company or any of its Subsidiaries. Notwithstanding the foregoing, this Section 16 shall not adversely affect the Participant’s rights under any prior
option, restricted share unit or share award agreement under the Plan (provided such agreement is expressly labeled as an option, restricted share unit or share award agreement under the Plan and is similar in form to this Agreement) which has been
signed by an authorized officer of the Company. 
 17 Governing Law; Construction. This Agreement shall be governed by and construed
and enforced in accordance with Hong Kong laws without regard to conflict of law principles thereunder. The terms of this Agreement have resulted from the negotiations of the parties and each of the parties has had an opportunity to obtain and
consult with its own counsel. The language of all parts of the Plan and this Agreement (including these Terms) shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against either of the parties. 

  
 10 

 18 Arbitration. Any dispute, controversy or claim arising out of or in connection
with or relating to this Agreement, or the interpretation, breach, termination or validity hereof, shall be resolved through arbitration. A dispute may be submitted to arbitration upon the request of either party with written notice to the other
party (the “Notice”). The arbitration shall be conducted in Hong Kong Special Administrative Region of the PRC by the Hong Kong International Arbitration Centre (the “Centre”) in accordance with the Hong Kong
International Arbitration Centre Administered Arbitration Rules in force when the Notice of Arbitration is submitted. There shall be a single arbitrator. If the parties do not agree on the nomination of an arbitrator within thirty (30) days
after the delivery of the Notice to the other party, the appointment shall be made by the Centre. The arbitration proceedings shall be conducted in English. 

19 Third Party Rights. Unless as otherwise provided in this Agreement, any person who is not a party to this Agreement has no right
under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) to enforce or enjoy the benefit of any term thereof. 
 20
Severability. If the arbitrator or a court of competent jurisdiction determines that any portion of this Agreement or the Plan is in violation of any statute or public policy, then only the portions of this Agreement or the Plan, as
applicable, which violate such statute or public policy shall be stricken, and all portions of this Agreement and the Plan which do not violate any statute or public policy shall continue in full force and effect. Furthermore, it is the
parties’ intent that any court order striking any portion of this Agreement and/or the Plan should modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties hereunder. 

21 PRC Compliance. Notwithstanding anything to the contrary in this Agreement, with respect to any Participant who is a PRC citizen or
resident in China, or otherwise, as the Administrator in its sole discretion may determine, who may be deemed as a “domestic resident” as defined in the Circular No. 37 (and/or such successor circular, the “SAFE
Circular”) issued by the State Administration of Foreign Exchange of the People’s Republic of China (the “PRC”) on July 14, 2014 (a “PRC Participant”) and its implementing rules, the
Restricted Shares shall become vested only upon the receipt of written confirmation from the PRC Participant, or counsel to the Company, in form and substance reasonably satisfactory to the Administrator that: 

(a) (i) such PRC Participant is not subject to the registration or other compliance requirements of the SAFE Circular, or (ii) such PRC
Participant (X) is subject to such registration and compliance requirements of the SAFE Circular and (Y) has fully complied with such registration and compliance requirements of the SAFE Circular; and 

(b) the vesting of the Restricted Shares by the PRC Participant will not violate any Applicable Laws of the PRC and will not subject the PRC
Participant or the Company to any filing or registration with, or the obligation to obtain any approval or permit from, any PRC governmental or regulatory authorities (the “PRC Compliance”) which, as the Administrator may determine
in its sole discretion, would be unreasonably burdensome on the Company or is likely to have a material adverse effect on the Company’s business, operations or prospects. 

The PRC Participant shall have executed a Power of Attorney in substantially the form attached hereto as Exhibit A (or in such form and
substance as may be required by the then Applicable Laws of the PRC and as determined by the Administrator to be reasonably satisfactory to the Company) authorizing the Company (or any representative designated by the Company) to take such actions
and execute such instruments on behalf of such PRC Participant in the event where such PRC Compliance is required, and the PRC Participant agrees to take, or cause to be taken, any additional actions and execute any additional instruments as may be
requested by the Company to ensure such compliance. 

  
 11 

 22 Personal Data. The Participant acknowledges and consents to the collection, use,
processing and transfer of personal data as described in this paragraph. The Company and the Participant’s employer hold certain personal information, including the Participant’s name, home address and telephone number, date of birth,
national ID card number, social security number or other employee tax identification number, salary, nationality, job title and any shares awarded, canceled, purchased, vested, unvested or outstanding in the Participant’s favor, for the purpose
of managing and administering the Plan (the “Data”). The Company and the Participant’s employer may transfer the Data to any third parties assisting the Company in the implementation, administration and management of the Plan.
These recipients may be located in Singapore, Thailand, Philippines, Vietnam, China or elsewhere. The Participant hereby authorizes these recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the
purposes of implementing, administering and managing the Participant’s participation in the Plan, including any requisite transfer of such Data as may be required for the administration of the Plan and/or the subsequent holding of Ordinary
Shares on the Participant’s behalf to a broker or other third party with whom the Participant may elect to deposit any Ordinary Shares acquired pursuant to the Plan. The Participant may, at any time, review the Data, require any necessary
amendments to it or withdraw the consent herein in writing by contacting the Company; however, withdrawing the consent may affect the Participant’s ability to participate in the Plan. 

23 Sections 409A and 457A. Notwithstanding other provisions of the Plan or this Agreement, no Restricted Shares may be granted,
deferred, accelerated, extended, paid out or modified under this Agreement in a manner that would result in the imposition of an additional tax under Section 409A or Section 457A of the Code upon the Participant. In the event that it is
reasonably determined by the Board or, if delegated by the Board to the Administrator, by the Administrator that, as a result of Section 409A of the Code, payments or any other rights in respect of the Restricted Shares may not be granted at
the time contemplated by the terms of the Plan or this Agreement, as the case may be, without causing the Participant holding the Restricted Shares to be subject to taxation under Section 409A of the Code, including as a result of the fact that
the Participant is a “specified employee” under Section 409A of the Code, the Company will make such payment or grant such rights on the first day that would not result in the Participant incurring any tax liability under
Section 409A of the Code. The Company will use commercially reasonable efforts to implement the provisions of this Section 22 in good faith; provided, however, that neither the Company, the Administrator nor any of the
Company’s Employees, Directors or representatives will have any liability to the Participant with respect to this Section 23. 

[Signature page follows] 

  
 12 

							
	“PARTICIPANT”	 		 	ACCEPTED BY:
		 		 	Lixiang Education Holding Co., Ltd., an exempted company incorporated under the laws of the Cayman Islands
				
	 	 		 	By:	 	 
	Signature	 		 		 	
	 	 		 	Its:	 	
	Print Name	 		 		 	
	 	 		 		 	
	Date	 		 		 	

  
 13 

 Exhibit A 

Power of Attorney 

  
 14

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