Document:

EXHIBIT 10.29

 

Exclusive Business Cooperation Agreement

 

This Exclusive Business Cooperation Agreement
(this “Agreement”) is made and entered into by and between the following parties on December 28, 2014 in Shenzhen,
the People’s Republic of China (“China” or the “PRC”).

 

	Party A:	The Future Leading  Education (Shenzhen) Co., Ltd., a wholly foreign owned
    enterprise, organized and existing under the laws of the PRC, with its address at Room 201, Block A, No. 1 Qianwan Road 1,
    Shenzhen-Hong Kong Cooperation Zone, Qianhai, Shenzhen;

 

	Party B:	Shenzhen Asia-Pacific Future Education Technology Development Co., Ltd., with its address at Room 2405B, Floor 4, Building 2,
Meilinduoli Industrial Zone, Meihua Road, Futian District, Shenzhen.

 

Each of Party A and Party B shall be hereinafter
referred to as a “Party” respectively, and as the “Parties” collectively.

 

Whereas,

 

		1.	Party A is a wholly foreign owned enterprise established in China, and has the necessary resources
to provide technical and consulting services;

 

		2.	Party B is permitted to engage in the business of online education by relevant PRC government authorities.
The businesses conducted by Party B currently and any time during the term of this Agreement are collectively referred to as the
“Principal Business”;

 

		3.	Party A is willing to provide Party B with technical support, consulting services and other services
on exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology,
human resources, and information, and Party B is willing to accept such services provided by Party A or Party A’s designee(s),
each on the terms set forth herein.

 

Now, therefore, through mutual discussion,
the Parties have reached the following agreements:

 

		1.	Services Provided by Party A

 

		1.1	Party B hereby appoints Party A as Party B’s exclusive services provider to provide Party
B with comprehensive technical support, consulting services and other services during the term of this Agreement, in accordance
with the terms and conditions of this Agreement, including but not limited to the follows:

 

		(1)	Licensing Party B to use any software legally owned by Party A;

 

 

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		(2)	Development, maintenance and update of software involved in Party B’s business;

 

		(3)	Design, installation, daily management, maintenance and updating of network system, hardware and
database design;

 

		(4)	Technical support and training for employees of Party B;

 

		(5)	Assisting Party B in consultancy, collection and research of technology and market information
(excluding market research business that wholly foreign-owned enterprises are prohibited from conducting under PRC law);

 

		(6)	Providing business management consultation for Party B;

 

		(7)	Providing marketing and promotion services for Party B;

 

		(8)	Providing customer order management and customer services for Party B;

 

		(9)	Leasing of equipments or properties; and

 

		(10)	Other services requested by Party B from time to time to the extent permitted under PRC law.

 

		1.2	Party B agrees to accept all the services provided by Party A. Party B further agrees that unless
with Party A’s prior written consent, during the term of this Agreement, Party B shall not directly or indirectly accept
the same or any similar services provided by any third party and shall not establish similar corporation relationship with any
third party regarding the matters contemplated by this Agreement. Party A may appoint other parties, who may enter into certain
agreements described in Section 1.3 with Party B, to provide Party B with the services under this Agreement.

 

		1.3	Service Providing Methodology

 

		1.3.1	Party A and Party B agree that during the term of this Agreement, where necessary, Party B may
enter into further service agreements with Party A or any other party designated by Party A, which shall provide the specific contents,
manner, personnel, and fees for the specific services.

 

		1.3.2	To fulfill this Agreement, Party A and Party B agree that during the term of this Agreement, where
necessary, Party B may enter into equipment or property leases with Party A or any other party designated by Party A which shall
permit Party B to use Party A’s relevant equipment or property based on the needs of the business of Party B.

 

		1.3.3	Party B hereby grants to Party A or any other person designated by Party A an irrevocable and exclusive
option to purchase from Party B, at Party A’s sole discretion, any or all of the assets and business of Party B, to the extent
permitted under PRC law, at the lowest purchase price permitted by PRC law. The Parties shall then enter into a separate assets
or business transfer agreement, specifying the terms and conditions of the transfer of the assets.

 

 

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		2.	The Calculation and Payment of the Service Fees

 

		2.1	The fees payable by Party B to Party A during the term of this Agreement shall be calculated as
follows:

 

		2.1.1	Party B shall pay service fee to Party A in each month. The service fee for each month shall consist
of management fee and fee for services provided, which shall be determined by the Parties through negotiation after considering:

 

		(1)	Complexity and difficulty of the services provided by Party A;

 

		(2)	Title of and time consumed by employees of Party A providing the services;

 

		(3)	Contents and value of the services provided by Party A;

 

		(4)	Market price of the same type of services;

 

		(5)	Operation conditions of the Party B.

 

		2.1.2	If Party A transfers technology to Party B or develops software or other technology as entrusted
by Party B or leases equipments or properties to Party B, the technology transfer price, development fees or rent shall be determined
by the Parties based on the actual situations.

 

		3.	Intellectual Property Rights and Confidentiality Clauses

 

		3.1	Party A shall have exclusive and proprietary ownership, rights and interests in any and all intellectual
properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents,
patent applications, software, technical secrets, trade secrets and others. Party B shall execute all appropriate documents, take
all appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever
is necessary as deemed by Party A at its sole discretion for the purposes of vesting any ownership, right or interest of any such
intellectual property rights in Party A, and/or perfecting the protections for any such intellectual property rights in Party A.

 

		3.2	The Parties acknowledge that the existence and the terms of this Agreement and any oral or written
information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as
confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining
the written consent of the other Party, it shall not disclose any relevant confidential information to any third party, except
for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure);
(b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders
of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees,
legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors,
employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in
this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any
Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach
of this Agreement.

 

 

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		4.	Representations and Warranties

 

		4.1	Party A hereby represents, warrants and covenants as follows:

 

		4.1.1	Party A is a wholly foreign owned enterprise legally established and validly existing in accordance
with the laws of China; Party A or the service providers designated by Party A will obtain all government permits and licenses
for providing the service under this Agreement before providing such services.

 

		4.1.2	Party A has taken all necessary corporate actions, obtained all necessary authorizations as well
as all consents and approvals from third parties and government agencies (if required) for the execution, delivery and performance
of this Agreement. Party A’s execution, delivery and performance of this Agreement do not violate any explicit requirements
under any law or regulation.

 

		4.1.3	This Agreement constitutes Party A’s legal, valid and binding obligations, enforceable against
it in accordance with its terms.

 

		4.2	Party B hereby represents, warrants and covenants as follows:

 

		4.2.1	Party B is an enterprise legally established and validly existing in accordance with the laws of
China and has obtained and will maintain all permits and licenses for engaging in the Principal Business in a timely manner.

 

		4.2.2	Party B has taken all necessary internal actions, obtained all necessary authorizations as well
as all consents and approvals from third parties and government agencies (if required) for the execution, delivery and performance
of this Agreement. Party B’s execution, delivery and performance of this Agreement do not violate any explicit requirements
under any law or regulation.

 

 

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		4.2.3	This Agreement constitutes Party B’s legal, valid and binding obligations, and shall be enforceable
against it in accordance with its terms.

 

		5.	Term of Agreement

 

		5.1	This Agreement shall become effective upon execution by the Parties. Unless terminated in accordance
with the provisions of this Agreement or terminated in writing by Party A, this Agreement shall remain effective.

 

		5.2	During the term of this Agreement, each Party shall renew its operation term prior to the expiration
thereof so as to enable this Agreement to remain effective. This Agreement shall be terminated upon the expiration of the operation
term of a Party if the application for renewal of its operation term is not approved by relevant government authorities.

 

		5.3	The rights and obligations of the Parties under Sections 3, 6, 7 and this Section 5.3 shall survive
the termination of this Agreement.

 

		6.	Governing Law and Resolution of Disputes

 

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

 

		6.2	In the event of any dispute with respect to the construction and performance of this Agreement,
the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement
on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations,
either Party may submit the relevant dispute to the South China International Economic and Trade Arbitration Commission for arbitration,
in accordance with its arbitration rules. The arbitration shall be conducted in Shenzhen. The arbitration award shall be final
and binding on all Parties.

 

		6.3	Upon the occurrence of any disputes arising from the construction and performance of this Agreement
or during the pending arbitration of any dispute, except for the matters under dispute, the Parties shall continue to exercise
their respective rights under this Agreement and perform their respective obligations under this Agreement.

 

		7.	Breach of Agreement and Indemnification

 

		7.1	If Party B conducts any material breach of any term of this Agreement, Party A shall have right
to terminate this Agreement and/or require Party B to indemnify all damages; this Section 7.1 shall not prejudice any other rights
of Party A herein.

 

 

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		7.2	Unless otherwise required by applicable laws, Party B shall not have any right to terminate this
Agreement in any event.

 

		7.3	Party B shall indemnify and hold harmless Party A from any losses, injuries, obligations or expenses
caused by any lawsuit, claims or other demands against Party A arising from or caused by the services provided by Party A to Party
B pursuant this Agreement, except where such losses, injuries, obligations or expenses arise from the gross negligence or willful
misconduct of Party A.

 

		8.	Force Majeure

 

		8.1	In the case of any force majeure events (“Force Majeure”) such as earthquake, typhoon,
flood, fire, flu, war, strikes or any other events that cannot be predicted and are unpreventable and unavoidable by the affected
Party, which directly or indirectly causes the failure of either Party to perform or completely perform this Agreement, then the
Party affected by such Force Majeure shall give the other Party written notices without any delay, and shall provide details of
such event within 15 days after sending out such notice, explaining the reasons for such failure of, partial or delay of performance.

 

		8.2	If such Party claiming Force Majeure fails to notify the other Party and furnish it with proof
pursuant to the above provision, such Party shall not be excused from the non-performance of its obligations hereunder. The Party
so affected by the event of Force Majeure shall use reasonable efforts to minimize the consequences of such Force Majeure and to
promptly resume performance hereunder whenever the causes of such excuse are cured. Should the Party so affected by the event of
Force Majeure fail to resume performance hereunder when the causes of such excuse are cured, such Party shall be liable to the
other Party.

 

		8.3	In the event of Force Majeure, the Parties shall immediately consult with each other to find an
equitable solution and shall use all reasonable endeavours to minimize the consequences of such Force Majeure.

 

		9.	Notices

 

		9.1	All notices and other communications required or permitted to be given pursuant to this Agreement
shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission
to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which
notices shall be deemed to have been effectively given shall be determined as follows:

 

		9.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid,
shall be deemed effectively given on the date of receipt or refusal at the address specified for notices.

 

 

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		9.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission).

 

		9.2	For the purpose of notices, the addresses of the Parties are as follows:

 

	 	Party A:	The Future Leading Education (Shenzhen)
Co., Ltd.
	 	 	 
		Address:	Room 201, Block A, No. 1 Qianwan Road 1, Shenzhen-Hong Kong Cooperation Zone, Qianhai, Shenzhen
	 	 	 
	 	Attn:	 
	 	 	 
	 	Phone:	 
	 	 	 
	 	Facsimile:	 
	 	 	 
	 	Party B:	Shenzhen
Asia-Pacific Future Education Technology Development Co., Ltd.

	 	 	 
		Address:	Room 2405B, Floor 4, Building 2, Meilinduoli Industrial Zone, Meihua Road, Futian District, Shenzhen
	 	 	 
	 	Attn:	 
	 	 	 
	 	Phone:	 
	 	 	 
	 	Facsimile:	 

 

		9.3	Any Party may at any time change its address for notices by a notice delivered to the other Party
in accordance with the terms hereof.

 

		10.	Assignment

 

		10.1	Without Party A’s prior written consent, Party B shall not assign its rights and obligations
under this Agreement to any third party.

 

		10.2	Party B agrees that Party A may assign its obligations and rights under this Agreement to any third
party and in case of such assignment, Party A is only required to give written notice to Party B and does not need any consent
from Party B for such assignment.

 

		11.	Severability
	 	 	 
	 	 	In the event that one or several of the provisions
of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the
validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any
aspect. The Parties shall negotiate in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions
that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective
provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

 

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		12.	Amendments and Supplements
	 	 	 
	 	 	Any amendments and supplements to this Agreement shall
be in writing. The amendment agreements and supplementary agreements that have been signed by the Parties and relate to this Agreement
shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

 

		13.	Language and Counterparts
	 	 	 
	 	 	This Agreement is written in both Chinese and English
language in two copies, each Party having one copy. The Chinese version and English version shall have equal legal validity (In
the event that the Parties have any different interpretations about the Agreement, the Chinese version shall prevail).

 

IN WITNESS WHEREOF, the Parties have caused their authorized
representatives to execute this Exclusive Business Cooperation Agreement as of the date first above written.

 

 

Party A: The Future Leading  Education
(Shenzhen) Co., Ltd.

 

 

By: /s/ Li Wei Fu                                     

Name: Li Wei Fu

Title

 

 

 

Party B: Shenzhen Asia-Pacific Future Education Technology
Development Co., Ltd

 

 

By: /s/ Ren Xiaoheng 

Name:  Ren Xiaoheng 

Title

 

 

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    	8Exhibit 10.30

 

Form of Exclusive Option Agreement

 

This Exclusive Option
Agreement (this “Agreement”) is executed by and among the following Parties as of December 28,2014 in Shenzhen, the
People’s Republic of China (“China” or the “PRC”):

 

	Party A:	The Future Leading  Education (Shenzhen) Co., Ltd., a wholly foreign owned
    enterprise, organized and existing under the laws of the PRC, with its address at Room 201, Block A, No. 1 Qianwan Road 1,
    Shenzhen-Hong Kong Cooperation Zone, Qianhai, Shenzhen;

 

	Party B:	[            ], a Chinese citizen with Chinese Identification No.: [            ]; and

 

	Party C:	Shenzhen Asia-Pacific Future Education Technology Development Co., Ltd., with its address at Room 2405B, Floor 4, Building 2,
Meilinduoli Industrial Zone, Meihua Road, Futian District, Shenzhen

 

In this Agreement,
each of Party A, Party B and Party C shall be referred to as a “Party” respectively, and they shall be collectively
referred to as the “Parties”.

 

Whereas:

 

		1.	Party B is a shareholder of Party C and as of the date hereof holds [ %] of equity interests of
Party C, representing RMB500,000 in the registered capital of Party C.

 

Now therefore, upon
mutual discussion and negotiation, the Parties have reached the following agreement:

 

		1.	Sale and Purchase of Equity Interest

 

		1.1	Option Granted
	 	 	 
	 	 	In consideration of the payment
of RMB10 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably grants Party
A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase
the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s
sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right
being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other person shall be entitled
to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to
the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer
to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations.

 

    	 

    	 

    

 

		1.2	Steps for Exercise of Equity Interest Purchase Option
	 	 	 
	 	 	Subject to the provisions of the
laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B
(the “Equity Interest Purchase Option Notice”), specifying: (a) Party A’s or the Designee’s decision to
exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased by Party A or the Designee from
Party B (the “Optioned Interests”); and (c) the date for purchasing the Optioned Interests or the date for transfer
of the Optioned Interests.

 

		1.3	Equity Interest Purchase Price
	 	 	The purchase price of the Optioned
Interests (the “Base Price”) shall be RMB 10. If PRC law requires a minimum price higher than the Base Price when Party
A exercises Equity Interest Purchase Option, the minimum price regulated by PRC law shall be the purchase price (collectively,
the “Equity Interest Purchase Price”).

 

		1.4	Transfer of Optioned Interests
	 	 	 
	 	 	For each exercise of the Equity
Interest Purchase Option:

 

		1.4.1	Party B shall cause Party C to promptly convene a shareholders’ meeting, at which a resolution
shall be adopted approving Party B’s transfer of the Optioned Interests to Party A and/or the Designee(s);

 

		1.4.2	Party B shall obtain written statements from the other shareholders of Party C giving consent to
the transfer of the equity interest to Party A and/or the Designee(s) and waiving any right of first refusal related thereto (if
any);

 

		1.4.3	Party B shall execute an equity interest transfer contract with respect to each transfer with Party
A and/or each Designee (whichever is applicable), in accordance with the provisions of this Agreement and the Equity Interest Purchase
Option Notice regarding the Optioned Interests;

 

		1.4.4	The relevant Parties shall execute all other necessary contracts, agreements or documents, obtain
all necessary government licenses and permits and take all necessary actions to transfer valid ownership of the Optioned Interests
to Party A and/or the Designee(s), unencumbered by any security interests, and cause Party A and/or the Designee(s) to become the
registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement, “security interests”
shall include securities, mortgages, third party’s rights or interests, any stock options, acquisition right, right of first
refusal, right to offset, ownership retention or other security arrangements, but shall be deemed to exclude any security interest
created by this Agreement, Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney. “Party
B’s Equity Interest Pledge Agreement” as used in this Agreement shall refer to the Equity Interest Pledge Agreement
executed by and among Party A, Party B and Party C on the date hereof and any modification, amendment and restatement thereto.
“Party B’s Power of Attorney” as used in this Agreement shall refer to the Power of Attorney executed by Party
B on the date hereof granting Party A with power of attorney and any modification, amendment and restatement thereto.

 

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		2.	Covenants

 

		2.1	Covenants regarding Party C
	 	 	 
	 	 	Party B (as a shareholder of Party
C) and Party C hereby covenant as follows:

 

		2.1.1	Without the prior written consent of Party A, they shall not in any manner supplement, change or
amend the articles of association of Party C, increase or decrease its registered capital, or change its structure of registered
capital in other manners;

 

		2.1.2	They shall maintain Party C’s enterprise existence in accordance with good financial and
business standards and practices, obtain and maintain all necessary government licenses and permits by prudently and effectively
operating its business and handling its affairs;

 

		2.1.3	Without the prior written consent of Party A, they shall not at any time following the date hereof,
sell, transfer, mortgage or dispose of in any manner any material assets of Party C or legal or beneficial interest in the material
business or revenues of Party C of more than RMB 100,000, or allow the encumbrance thereon of any security interest;

 

		2.1.4	Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer
the existence of any debt, except for payables incurred in the ordinary course of business other than through loans;

 

		2.1.5	They shall always operate all of Party C’s businesses in the ordinary course of business
to maintain the asset value of Party C and refrain from any action/omission that may affect Party C’s operating status and
asset value;

 

		2.1.6	Without the prior written consent of Party A, they shall not cause Party C to execute any major
contract, except the contracts in the ordinary course of business (for purpose of this subsection, a contract with a price exceeding
RMB100,000 shall be deemed a major contract);

 

		2.1.7	Without the prior written consent of Party A, they shall not cause Party C to provide any person
with any loan or credit;

 

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		2.1.8	They shall provide Party A with information on Party C’s business operations and financial
condition at Party A’s request;

 

		2.1.9	If requested by Party A, they shall procure and maintain insurance in respect of Party C’s
assets and business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for companies that
operate similar businesses;

 

		2.1.10	Without the prior written consent of Party A, they shall not cause or permit Party C to merge,
consolidate with, acquire or invest in any person;

 

		2.1.11	They shall immediately notify Party A of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to Party C’s assets, business or revenue;

 

		2.1.12	To maintain the ownership by Party C of all of its assets, they shall execute all necessary or
appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate complaints, and raise necessary
or appropriate defenses against all claims;

 

		2.1.13	Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner
distribute dividends to its shareholders, provided that upon Party A’s written request, Party C shall immediately distribute
all distributable profits to its shareholders;

 

		2.1.14	At the request of Party A, they shall appoint any person designated by Party A as the director
or executive director of Party C.

 

		2.1.15	Without Party A’s prior written consent, they shall not engage in any business in competition
with Party A or its affiliates; and

 

		2.1.16	Unless otherwise required by PRC law, Party C shall not be dissolved or liquated without prior
written consent by Party A.

 

		2.2	Covenants of Party B
	 	 	 
	 	 	Party B hereby covenants as follows:

 

		2.2.1	Without the prior written consent of Party A, Party B shall not sell, transfer, mortgage or dispose
of in any other manner any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance
thereon, except for the interest placed in accordance with Party B’s Equity Interest Pledge Agreement and Party B’s
Power of Attorney;

 

		2.2.2	Without the prior written consent of Party A, Party B shall cause the shareholders’ meeting
and/or the directors (or the executive director) of Party C not to approve any sale, transfer, mortgage or disposition in any other
manner of any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon
of any security interest, except for the interest placed in accordance with Party B’s Equity Interest Pledge Agreement and
Party B’s Power of Attorney;

 

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		2.2.3	Without the prior written consent of Party A, Party B shall cause the shareholders’ meeting
or the directors (or the executive director) of Party C not to approve the merger or consolidation with any person, or the acquisition
of or investment in any person;

 

		2.2.4	Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to the equity interests in Party C held by Party B;

 

		2.2.5	Party B shall cause the shareholders’ meeting or the directors (or the executive director)
of Party C to vote their approval of the transfer of the Optioned Interests as set forth in this Agreement and to take any and
all other actions that may be requested by Party A;

 

		2.2.6	To the extent necessary to maintain Party B’s ownership in Party C, Party B shall execute
all necessary or appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate complaints,
and raise necessary or appropriate defenses against all claims;

 

		2.2.7	Party B shall appoint any designee of Party A as the director or the executive director of Party
C, at the request of Party A;

 

		2.2.8	Party B hereby waives its right of first of refusal to transfer of equity interest by any other
shareholder of Party C to Party A (if any), and gives consent to execution by each other shareholder of Party C with Party A and
Party C the exclusive option agreement, the equity interest Pledge agreement and the power of attorney similar to this Agreement,
Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney and undertakes not to take any action in
conflict with such documents executed by the other shareholders;

 

		2.2.9	Party B shall promptly donate any profit, interest, dividend or proceeds of liquidation to Party
A or any other person designated by Party A to the extent permitted under applicable PRC laws; and

 

		2.2.10	Party B shall strictly abide by the provisions of this Agreement and other contracts jointly or
separately executed by and among Party B, Party C and Party A, perform the obligations hereunder and thereunder, and refrain from
any action/omission that may affect the effectiveness and enforceability thereof. To the extent that Party B has any remaining
rights with respect to the equity interests subject to this Agreement hereunder or under the Party B’s Equity Interest Pledge
Agreement or under the Party B’s Power of Attorney, Party B shall not exercise such rights except in accordance with the
written instructions of Party A.

 

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		3.	Representations and Warranties
	 	 	 
	 	 	Party B and Party C hereby represent
and warrant to Party A, jointly and severally, as of the date of this Agreement and each date of transfer of the Optioned Interests,
that:

 

		3.1	They have the power, capacity and authority to execute and deliver this Agreement and any equity
interest transfer contracts to which they are parties concerning the Optioned Interests to be transferred thereunder (each, a “Transfer
Contract”), and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to
enter into Transfer Contracts consistent with the terms of this Agreement upon Party A’s exercise of the Equity Interest
Purchase Option. This Agreement and the Transfer Contracts to which they are parties constitute or will constitute their legal,
valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof;

 

		3.2	Party B and Party C have obtained any and all approvals and consents from government authorities
and third parties (if required) for execution, delivery and performance of this Agreement.

 

		3.3	The execution and delivery of this Agreement or any Transfer Contracts and the obligations under
this Agreement or any Transfer Contracts shall not: (i) cause any violation of any applicable laws of China; (ii) be inconsistent
with the articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any contracts
or instruments to which they are a party or which are binding on them, or constitute any breach under any contracts or instruments
to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued
effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation of or imposition of
additional conditions to any licenses or permits issued to either of them;

 

		3.4	Party B has a good and merchantable title to the equity interests held by Party B in Party C. Except
for Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney, Party B has not placed any security
interest on such equity interests;

 

		3.5	Party C has a good and merchantable title to all of its assets, and has not placed any security
interest on the aforementioned assets;

 

		3.6	Party C does not have any outstanding debts, except for (i) debt incurred in the ordinary course
of business; and (ii) debts disclosed to Party A for which Party A’s written consent has been obtained.

 

    	6

    	 

    

 

		3.7	Party C has complied with all laws and regulations of China which applicable; and

 

		3.8	There are no pending or threatened litigation, arbitration or administrative proceedings relating
to the equity interests in Party C, assets of Party C or Party C.

 

		4.	Effective Date and Term
	 	 	 
	 	 	This Agreement shall become effective
upon execution by the Parties, and remain effective until all equity interests held by Party B in Party C have been transferred
or assigned to Party A and/or any other person designated by Party A in accordance with this Agreement.

 

		5.	Governing Law and Resolution of Disputes

 

		5.1	Governing law
	 	 	 
	 	 	The execution, effectiveness, construction,
performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws
of PRC.

 

		5.2	Methods of Resolution of Disputes
	 	 	 
	 	 	In the event of any dispute with
respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations.
In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other
Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the South China International
Economic and Trade Arbitration Commission for arbitration, in accordance with its arbitration rules. The arbitration shall be conducted
in Shenzhen. The arbitration award shall be final and binding on all Parties.

 

		6.	Taxes and Fees
	 	 	 
	 	 	Each Party shall pay any and
all transfer and registration tax, expenses and fees incurred thereby or levied thereon in accordance with the laws of China in
connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the
transactions contemplated under this Agreement and the Transfer Contracts.

 

		7.	Notices

 

		7.1	All notices and other communications required or permitted to be given pursuant to this Agreement
shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission
to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which
notices shall be deemed to have been effectively given shall be determined as follows:

 

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		7.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid,
shall be deemed effectively given on the date of receipt or refusal at the address specified for notices;
	 	 	 
		7.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission).

 

		7.2	For the purpose of notices, the addresses of the Parties are as follows:
	 	 	 

 

	 	 	Party A:	The Future Leading
Education (Shenzhen) Co., Ltd.
	 	 	 	 
	 	 	Address:	Room 201, Block A, No.
1 Qianwan Road 1,

Shenzhen-Hong Kong Cooperation Zone, Qianhai,

Shenzhen
	 	 	 	 
	 	 	Attn:	 
	 	 	 	 
	 	 	Phone:	 
	 	 	 	 
	 	 	Facsimile:	 
	 	 	 	 
	 	 	Party B:	[                 ]
	 	 	 	 
	 	 	Address:	Room 804, Block 5, No.
54 East 3rd Ring South Road,

Chaoyang District, Beijing
	 	 	 	 
	 	 	Attn:	 
	 	 	 	 
	 	 	Phone:	 
	 	 	 	 
	 	 	Facsimile:	 
	 	 	 	 
	 	 	Party C:	Shenzhen Asia-Pacific
Future Education Technology Development Co., Ltd.
	 	 	 	 
	 	 	Address:	Room 2405B, Floor 4, Building
2, Meilinduoli Industrial Zone, 

Meihua Road, Futian District, Shenzhen
	 	 	 	 
	 	 	Attn:	 
	 	 	 	 
	 	 	Phone:	 
	 	 	 	 
	 	 	Facsimile:	 

 

    	8

    	 

    

 

		7.3	Any Party may at any time change its address for notices by a notice delivered to the other Parties
in accordance with the terms hereof.

 

		8.	Confidentiality
	 	 	 
	 	 	The Parties acknowledge that
the existence and the terms of this Agreement, and any oral or written information exchanged between the Parties in connection
with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality
of all such confidential information, and without obtaining the written consent of other Parties, it shall not disclose any relevant
confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than
through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable
laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to
be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction
contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound
by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the
shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information
by such Party and such Party shall be held liable for breach of this Agreement.

 

		9.	Further Warranties
	 	 	 
	 	 	The Parties agree to promptly
execute documents that are reasonably required for or are conducive to the implementation of the provisions and purposes of this
Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and
purposes of this Agreement.

 

		10.	Breach of Agreement

 

		10.1	If Party B or Party C conducts any material breach of any term of this Agreement, Party A shall
have right to terminate this Agreement and/or require the Party B or Party C to compensate all damages; this Section 10 shall not
prejudice any other rights of Party A herein;

 

		10.2	Party B or Party C shall not have any right to terminate this Agreement in any event unless otherwise
required by applicable laws.

 

		11.	Miscellaneous

 

		11.1	Amendment, change and supplement
	 	 	 
	 	 	Any amendment, change and supplement
to this Agreement shall require the execution of a written agreement by all of the Parties.

 

 

    	9

    	 

    

 

		11.2	Entire agreement
	 	 	 
	 	 	Except for the amendments, supplements
or changes in writing executed after the execution of this Agreement, this Agreement shall constitute the entire agreement reached
by and among the Parties hereto with respect to the subject matter hereof, and shall supercede all prior oral and written consultations,
representations and contracts reached with respect to the subject matter of this Agreement.

 

		11.3	Headings
	 	 	 
	 	 	The headings of this Agreement
are for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this
Agreement.

 

		11.4	Language
	 	 	 
	 	 	This Agreement is written in both
Chinese and English language in three copies, each Party having one copy. The Chinese version and English version shall have equal
legal validity (In the event that the Parties have any different interpretations about the Agreement, the Chinese version shall
prevail).

 

		11.5	Severability
	 	 	 
	 	 	In the event that one or several
of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws
or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or
compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions
with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic
effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable
provisions.

 

		11.6	Successors
	 	 	 
	 	 	This Agreement shall be binding
on and shall inure to the interest of the respective successors of the Parties and the permitted assigns of such Parties.

 

		11.7	Survival

 

		11.7.1	Any obligations that occur or that are due as a result of this Agreement upon the expiration or
early termination of this Agreement shall survive the expiration or early termination thereof.

 

		11.7.2	The provisions of Sections 5, 8, 10 and this Section 11.7 shall survive the termination of this
Agreement.

 

    	10

    	 

    

 

		11.8	Waivers
	 	 	 
	 	 	Any Party may waive the terms and
conditions of this Agreement, provided that such a waiver must be provided in writing and shall require the signatures of the Parties.
No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party
with respect to any similar breach in other circumstances.

 

 

 

    	11

    	 

    

 

 

IN WITNESS WHEREOF,
the Parties have caused their authorized representatives to execute this Exclusive Option Agreement as of the date first above
written.

 

Party A: The Future Leading  Education
(Shenzhen) Co., Ltd.

 

 

By:____________________________________

Name:

Title:

 

 

 

Party B: [                               ]

 

 

By:____________________________________

Name:

Title:

 

 

 

Party C: Shenzhen Asia-Pacific Future Education Technology
Development Co., Ltd.

 

 

By:____________________________________

Name:

Title:

 

 

 

    	12

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