Document:

EX-10.1

 Exhibit 10.1 

NONQUALIFIED STOCK OPTION AGREEMENT 
  

			
	GRANTED TO:	  	                                      
   (the “Employee”)
		
	DATE OF GRANT:	  	                                      
   (the “Grant Date”)
		
	GRANTED PURSUANT TO:	  	 Amended and Restated AV Homes, Inc. 1997

Incentive and Capital Accumulation Plan (2011 Restatement) (the “Plan”)

		
	 NUMBER OF UNDERLYING
 SHARES OF COMMON
STOCK:
	  	             shares (the “Shares”)
		
	EXERCISE PRICE:	  	$             per share
		
	EXPIRATION DATE:	  	        , 20     (the “Expiration Date”)
		
	 EXERCISE SCHEDULE
 (CUMULATIVE:
	  	

  

			
	 Date(s) of Exercisability
	  	Number of Shares as to Which
Option Becomes Exercisable
		  	

 1. AWARD. This Nonqualified Stock Option Agreement (the “Agreement”) is made and entered into
as of the Grant Date above, between AV Homes, Inc., a Delaware corporation (the “Company”), and Employee. It is the intent of the Company and Employee that the option represented by this Agreement (the “Option”)
will not qualify as an “incentive stock option” under the Code. Capitalized terms not defined herein shall have the meanings ascribed thereto in the Plan. 

2. TERMS AND CONDITIONS. The Option is subject to the following terms and conditions: 

(a) Exercisability. Subject to Sections 2(c) and 2(d) below, the Option shall be exercisable in accordance with the Exercise
Schedule set forth above. 
 (b) Expiration. Subject to Sections 2(c) and 2(d) below, the unexercised portion of the Option,
unless sooner terminated, shall expire on the Expiration Date and, notwithstanding anything contained herein to the contrary, no portion of the Option may be exercised after such date. 

(c) Termination of Employment. If prior to the Expiration Date, Employee’s employment with the Company or any subsidiary
corporation terminates, the Option will terminate on the applicable date as described below, provided, however, that none of the events described below shall extend the period of exercisability beyond the Expiration Date: 

 (i) If the employment of Employee is terminated by reason of Employee’s death or
“disability” (as defined below) either while in the employ of the Company or any subsidiary corporation, the unvested portion of the Option shall immediately become exercisable, and shall remain exercisable until the first anniversary of
Employee’s death or termination of employment due to disability, and, in the case of death, shall be exercisable by the executor or administrator of the estate of the deceased Employee or the person or persons to whom the deceased
Employee’s rights under the Option shall pass by will or the laws of descent or distribution; 
 (ii) If the employment of Employee is
terminated by the Company for “cause” (as defined below), to the extent not theretofore exercised, the Option shall immediately become null and void; and 

(iii) If the employment of Employee is terminated for any reason other than death, disability or cause, the Option shall remain exercisable
for three months following such termination, but only to the extent that it was vested and exercisable immediately prior the termination of employment. 

For purposes of this Agreement, the terms “disability” and “cause” shall have the meanings ascribed to such terms
(X) in any then-existing employment agreement between the Company and Employee or (Y) in the absence of such an agreement, (A) “disability” shall mean (i) Employee’ inability to engage in substantial gainful
activity by reason of any 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, (ii) total disability as determined by the
Social Security Administration or (iii) disability in accordance with a disability insurance program maintained by the Company from time to time, and (B) “cause” shall mean Employee’s (i) failure to perform material
duties for the Company, which failure remains uncured for 30 days after receipt of written notice from the Company demanding cure; (ii) willful misconduct or gross neglect in the performance of duties, or willful failure to abide by good faith
business-related instructions of the Board; (iii) breach of any material provision of this Agreement, which breach remains uncured for 30 days after receipt of written notice from the Company demanding cure; (iv) conviction of, or entering
a plea of guilty or nolo contendere to, a felony or any misdemeanor or other crime involving fraud, embezzlement, theft, dishonesty or moral turpitude; (v) commission of fraud or embezzlement against the Company; or (vi) engaging in
conduct which is materially injurious to the business or reputation of the Company, including but not limited to any violation of the Company’s material policies generally applicable to all executive officers (including but not limited to the
Code of Conduct, Code of Ethics, policies relating to compliance with applicable securities laws, policies relating to conduct in the workplace (e.g., sexual harassment, etc.)). 

(d) Change in Control. In the event of a Change in Control, then, without any action by the Committee, this Option, to the extent not
already exercised in full or otherwise expired, shall immediately vest and become exercisable in full; provided that the Committee, in its sole discretion, may cancel this Option in exchange for a cash payment equal to the amount, if any, by which
the Fair Market Value per Share immediately prior to the Change in Control exceeds the exercise price per Share. For purposes of this Agreement, the term “Change in Control” shall have the meaning set forth in Section 12(b) of the
Plan. 

  
 2 

 3. EXERCISE OF OPTION. Employee may exercise the Option regardless of whether any other option
that Employee has been granted by the Company remains unexercised. In no event may Employee exercise the Option for a fraction of a share. 

(a) Notice of Exercise. Any exercise of this Option shall be in writing addressed to the Corporate Secretary of the Company at the
principal place of business of the Company, specifying the Option being exercised and the number of shares to be purchased, accompanied by payment therefor. 

(b) Payment of Exercise Price. The Option’s exercise price shall be paid by Employee on the date the Option is exercised through
one or more of the following methods: 
 (i) Cash (including check, bank draft or money order); 

(ii) To the extent permitted by law, a broker-assisted cashless exercise in which Employee
irrevocably instructs a broker to deliver proceeds of a sale of all or a portion of the Shares to be issued pursuant to the exercise (or a loan secured by such Shares) to the Company in payment of the exercise price of such Shares and the amount of
any applicable withholding tax; 
 (iii) By delivery to the Company of unencumbered Shares having an aggregate Fair Market Value on the
date of exercise equal to the exercise price of such Shares and the amount of any applicable withholding tax (or in lieu of such delivery, by tender through attestation of such Shares in accordance with such procedures as the Committee may permit);
or 
 (iv) By a reduction in the number of Shares delivered to Employee upon exercise, such number of Shares having an aggregate Fair
Market Value on the date of exercise equal to the exercise price of such Shares and the amount of any applicable withholding tax. 
 (c)
Delivery of Shares. As soon as practicable after the Company receives the notice of exercise and payment provided for above, it shall deliver to the person exercising the Option, in the name of such person, a certificate or certificates
representing the Shares being purchased (net of the number of Shares sold or withheld, if any, to pay the exercise price and withholding tax). The Company may alternatively satisfy this obligation to deliver Shares by a book entry made in the
records of the Company’s transfer agent or by electronically transferring such shares to an account designated by the person exercising the Option. 

4. TAX WITHHOLDING. The Company may withhold from sums due or to become due to Employee from the Company an amount necessary to satisfy its
obligation to withhold taxes incurred by reason of the issuance or disposition of shares pursuant to the Option, or may require Employee to remit such amount to the Company prior to the delivery to Employee of any shares of Common Stock, including
through the tender or withholding of Shares as set forth above in Section 3. 

  
 3 

 5. NO RIGHTS AS STOCKHOLDER. Employee shall not have any of the rights of a stockholder with
respect to the shares of Common Stock underlying the Option while the Option is unexercised. 
 6. RESTRICTIONS ON TRANSFER. This Option
shall not be transferable otherwise than by will or the laws of descent and distribution, and shall be exercisable, during Employee’s lifetime, only by Employee. Notwithstanding the foregoing, this Option may be transferred by Employee solely
to Employee’s spouse, siblings, parents, children and grandchildren or trusts for the benefit of such persons or partnerships, corporations, limited liability companies or other entities owned solely by such persons, including trusts for such
persons, subject to any restriction included in this Agreement. 
 7. REGULATORY COMPLIANCE AND LISTING. The issuance or delivery of any
stock certificates representing shares of Common Stock issuable pursuant to this Agreement may be postponed by the Committee for such period as may be required to comply with any applicable requirements under the federal or state securities laws,
any applicable listing requirements of any national securities exchange or securities association, and any applicable requirements under any other law, rule or regulation applicable to the issuance or delivery of such shares, and the Company shall
not be obligated to deliver any such shares of Common Stock to Employee if delivery thereof would constitute a violation of any provision of any law or of any regulation of any governmental authority or any national securities exchange or securities
association. 
 8. INVESTMENT REPRESENTATIONS AND RELATED MATTERS. Employee hereby represents that the Common Stock issuable pursuant to
this Agreement is being acquired for investment and not for sale or with a view to distribution thereof. Employee acknowledges and agrees that any sale or distribution of shares of Common Stock issued pursuant to this Agreement may be made only
pursuant to either (a) a registration statement on an appropriate form under the Securities Act of 1933, as amended (the “Securities Act”), which registration statement has become effective and is current with regard to the
shares being sold, or (b) a specific exemption from the registration requirements of the Securities Act that is confirmed in a favorable written opinion of counsel, in form and substance satisfactory to counsel for the Company, prior to any
such sale or distribution. Employee hereby consents to such action as the Committee or the Company deems necessary or appropriate from time to time to prevent a violation of, or to perfect an exemption from, the registration requirements of the
Securities Act or to implement the provisions of this Agreement, including but not limited to placing restrictive legends on certificates evidencing shares of Common Stock issued pursuant to this Agreement and delivering stop transfer instructions
to the Company’s stock transfer agent. 
 9. NO RIGHT TO CONTINUED EMPLOYMENT. This Agreement does not confer upon Employee any right
to continued employment by the Company or any of its subsidiaries or affiliated companies, nor shall it interfere in any way with the right of Employee’s employer to terminate Employee’s employment at any time for any reason or no reason.

 10. CONSTRUCTION. The Plan and this Agreement will be construed by and administered under the supervision of the Committee, and all
determinations of the Committee will be final and binding on Employee. 

  
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 11. NOTICES. Any notice required or permitted under this Agreement shall be deemed given when
delivered personally, or when deposited in a United States Post Office, postage prepaid, addressed, as appropriate, (a) to Employee at the last address specified in Employee’s employment records, or such other address as Employee may
designate in writing to the Company, or (b) to the Company, AV Homes, Inc., 8601 N. Scottsdale Rd., Ste. 225, Scottsdale, Arizona 85253, Attention: Corporate Secretary, or such other address as the Company may designate in writing to Employee.

 12. FAILURE TO ENFORCE NOT A WAIVER. The failure of either party hereto to enforce at any time any provision of this Agreement shall in
no way be construed to be a waiver of such provision or of any other provision hereof. 
 13. GOVERNING LAW. This Agreement shall be
governed by and construed according to the laws of the State of Delaware, without regard to the conflicts of laws provisions thereof. 
 14.
INCORPORATION OF PLAN. The Plan is hereby incorporated by reference and made a part of this Agreement, and this Agreement shall be subject to the terms of the Plan, as the Plan may be amended from time to time. 

15. COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall be an original but all of which together
shall represent one and the same agreement. 
 16. MISCELLANEOUS. This Agreement cannot be modified or terminated orally. This Agreement and
the Plan contain the entire agreement between the parties relating to the subject matter hereof. The section headings herein are intended for reference only and shall not affect the interpretation hereof. 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

 

			
	AV HOMES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	  

	[Employee]

  
 5EX-4.18

 Exhibit 4.18 
 English Translation 
 New Enrollment System Development Service Agreement

 Party A: Beijing Decision Education & Consulting Co., Ltd. 
 Party B: [Name of a school or subsidiary of New Oriental China] 
  

	(1)	WHEREAS, Party A, a wholly owned foreign enterprise duly organized and existing under PRC laws, owns considerable technical capability and abundant business experience
in software development and hardware services; and 

  

	(2)	WHEREAS, Party B, an independent private-funded school in China engaged in providing language training and relevant courses to the public, needs Party A to provide it
the development and daily system maintenance services of the new enrollment system. 

 NOW, THEREFORE, through friendly
negotiation and on the principle of equality and mutual benefit, in relation to the development and daily system maintenance services of new enrollment system provided by Party A to Party B and the payments by Party B for using new enrollment system
under this Agreement, Parties hereby agree as follows. 
  

	1.	General Rules 

  

	1.1	Definition of “Enrollment System”: The enrollment system refers to the new enrollment system software designed and developed by professional staff organized
by Party A after the acceptance of Party B’s commission and according to its requirements under the terms provided in this Agreement, and used legally by Party B. (“System” thereafter) 

 

	1.2	Responsibility of the System development: under the premise of profound acquaintance to the business procedure of Party B, Party A shall organize professional staff to
develop the software system in accordance with the business and function requirements of Party B. Without written consent of Party B, Party A shall not assign the system development responsibility to any third party, in whole or in part.

  

	1.3	System development cycle: upon the effectiveness of this Agreement, Party A shall fully complete the design and compilation plan of the entire system, obtain Party
B’s confirmation, and execute the plan confirmation letter no later than [date]; Party A shall fully finish the installation and adjustment, accept the checking and acceptance of Party B or the institution appointed by Party B no later than
[date]. Party A shall assume unconditionally amendment, upgrading or versioning obligations for System function defects, security defects and interface defects, if such defects still exist after the checking and acceptance. 

	1.4	Maintenance and training of the System: Party A provides maintenance services for the system’s malfunctions in the using process by Party B; Party A assumes the
training of Party B’s stuff of system installation, using, daily maintenance and malfunction checking. 

  

	1.5	Ownership of the System: system is developed and accomplished by Party A, and both Parties possess user rights to the system jointly. 

 

	1.6	System expenses: Party B shall pay Party A Fees for System development and follow-on technical services and upgrading according
to this Agreement. 

  

	2.	System Function 

  

	2.1	Under the promise of profound understanding between Parties, Party B is responsible for specifying requirements, and Party A is responsible for realizing system
functions. 

  

	2.2	Final confirmation of the System functions shall be determined by the requirement research report, system design report (design plan), etc., acknowledged by Party B in
writing. The research and requirement collection conducted by Party A upon Party B and the documents produced therewith constitute the annex of this Agreement, having legal effect together with this Agreement. 

 

	2.3	Basic functions of the System include, but are not limited to, registration management, cash flow-in management, students
information management, teachers’ reward management, classroom resource management, data searching, data analysis, decision makings, internet based registration and cash flow-in management, refund and
cash flow-out management, data security, operating interface design, data back-up, etc. 

 

	2.4	After checked, accepted and used normally by Party B, Party A can upgrade or expand the system under Party B’s commission for the purpose of the expansion or
alteration of the System functional requirements as a result of the business expansion and change of Party B. 

  

	3.	System Defect 

  

	3.1	In the event that there are functional defects or operation interface defects in part after the checking and acceptance process, Party B shall inform Party A in
writing. Party A shall respond within 24 hours after receiving the notice, and remove the impediments unconditionally through methods of amending program, upgrading or versioning in the time period confirmed by both Parties. The expenses thus
arising out of shall be assumed by Party A, and Party A will be responsible for the loss of Party B. 

  
 2 

	3.2	In the event that the data security defects still exist after the checking and acceptance process, responsibility shall be assumed according to Article 7 of this
Agreement “Responsibility on Data Security.” 

  

	4.	System Maintenance and Staff Training 

  

	4.1	In the course of normal use of the system by Party B, Party A shall resolve the system malfunctions other than the ones provided for in Article 3 of this Agreement
within 12 hours after receiving the notice. 

  

	4.2	Within 7 days after passing the checking and acceptance, Party B shall begin the training of at least one of Party B employees on system’s installation, usage,
daily maintenance and malfunction examination. Party B shall provide at least one employee to attend the training in the relevant period. 

  

	4.3	After the System’s amendment, upgrading and versioning, Parties must conduct training as provided for in Article 4.2. 

 

	5.	Intellectual Property and Source Code 

  

	5.1	Party A possesses all the intellectual property of System and the right of authorship in the system. 

 

	5.2	Party A possesses all the source codes of the System. 

  

	6.	System’s Checking and Acceptance 

  

	6.1	System shall be delivered to Party B from Party A for checking and acceptance no later than [date]. In the event that Party A delays in deliverance, it shall pay 1% of
the total amount of the subject matter of this Agreement to Party B for each day overdue. In the event that the number of days overdue exceeds 30 days, Party B has right to refuse to check and accept. 

 

	6.2	System’s checking and acceptance can be conducted by either Party B or institutions appointed by Party B. 

 

	6.3	Party B shall dispatch personnel to do checking and acceptance within 7 days after deliverance by Party A. The system will be deemed to have been checked and accepted
by Party B if Party B does not perform checking and acceptance after 7 days. 

  

	6.4	If the checking and acceptance is delayed or fails to pass due to the reasons provided for in Article 6.1 of this Agreement, Party B can terminate this Agreement. Party
A shall refund prepaid payments, if any, to Party B, and compensate Party B for its losses. 

  
 3 

	7.	Responsibility on Data Security 

  

	7.1	Party A shall maintain warranty with the system data security of Party B in the course of the designing and development of System. Responsibility for System data
security includes, but is not limited to: preventing illegal entry, preventing destruction of system caused by computer virus, data recovery and back-up, etc. 

 

	7.2	The damages caused as a result of using third party software or hardware by Party A in the design plan of data security of System shall not constitute exculpatory
reasons for Party A. 

  

	7.3	In the event that data security defects are found after the checking and acceptance process and such defects result in loss of Party B, Party A shall remove the
impediments unconditionally within 24 hours after receiving the notice, recover the data and amend, upgrade or revise the data security system. Party B reserves the right to require Party A to compensate for all the losses. 

 

	8.	Payment 

  

	8.1	Parties agree that Party B shall pay fees for using the System to Party A in accordance with the revenues and profits generated by such System.

  

	8.2	Parties agree that the fee for using the System under this Agreement after its acceptance by Party B is [ ]Yuan/per student per time. Party A has the right to adjust
the fee of using the System upon written notice to Party B at any time for any reason. Party B shall accept the adjusted fee in accordance with Party A’s written notice. 

 

	8.3	Unless otherwise notified by Party A to Party B, the fees of using the System under this Agreement should be paid monthly, deposited by Party B to the bank account
designated by Party A, and Party A should issue legal invoice to Party B. 

  

	8.4	Taxes and expenses arising out of the execution and implementation of this Agreement shall be borne by Parties respectively according to law. 

 

	9.	Liability of Breach of Contract 

  

	9.1	In the event that Party B assigns the right of using the registration system under this Agreement to a third party without consent of Party A, Party A has the right to
request Party B to stop this infringement and eliminate any impacts. Party B shall compensate Party A in the amount equal to twice of the profit of Party B gained as a result of the infringement and Party A reserves its right to sue Party B.

  
 4 

	9.2	In the event that Party A breaches above provisions and causes losses and damages to Party B’s teaching business, Party A shall compensate Party B in the amount
equal to twice of the loss sustained by Party B. 

  

	9.3	In the event that Party B fails to pay to Party A the usage fees for the registration system under this Agreement, it shall pay 0.05% of the overdue payment amount to
Party A for each day overdue. In the event that the number of days overdue exceeds 30 days, Party A has the right to terminate this Agreement. 

  

	10.	Term and Termination 

  

	10.1	Term of this Agreement will be [period], commencing from the date of effectiveness of this Agreement. Upon the expiration, this Agreement may be renewed for five years
by the agreement of both Parties, and the times of renewal shall be unlimited. 

  

	10.2	Any Party will be deemed to have breached the Agreement if it fails to perform any obligations hereinto; the non-breaching Party
is entitled to issue written notice to terminate this Agreement to the breaching Party if the breaching Party has not taken any measures to cure or remedy the breach within 60 business days of the written notice to cure such breaches issued by the non-breaching Party. The non-breaching Party can terminate this Agreement at any time thereafter. If the breach is cured by the breaching Party within 60 business days of the
written, this Agreement will continue to be effective. 

  

	11.	Dispute Resolution 

  

	11.1	The Parties shall use their best efforts in good faith to amicably settle any disputes or differences arising out of this Agreement. If an attempt to settle has failed,
any Party can submit the disputes to Beijing Arbitration Commission for arbitration in Beijing in accordance with its rules of arbitration in effect. The arbitral award shall be final and binding upon both Parties. 

 

	11.2	“Dispute” in this clause means the dispute to the formation, time of formation, explanation of the content, performance, breach responsibility, and amendment,
assignment, release and termination of this Agreement. 

  
 5 

	12.	Miscellaneous 

  

	12.1	This Agreement shall become effective upon the date of execution by both Parties. Parties may negotiate and enter supplementary contracts on matters not agreed upon
herein. Supplementary contracts have equal effect as this Agreement. 

  

	12.2	Any provision of this Agreement will be deemed as severable in the jurisdiction where it conflicts with the laws in such jurisdiction. The enforceability and binding
effect of such provision should not be affected in other jurisdictions. 

  

	12.3	This Agreement together with the documents referred to herein is the sole contract achieved by Parties for the subject of this Agreement. Except for the ones listed in
this Agreement, the Parties will not be bound by other conditions, provisions, warranties or representations, 

  

	12.4	Amendments to this Agreement shall be valid only when made in writing and signed by both parties or their legal representatives with seal, and such amendments shall
have the same effect as this Agreement. 

  

	12.5	The execution, validity, construction, performance, amendment, termination and dispute resolution of this Agreement will be governed by the laws of PRC.

  

	12.6	Party B shall not assign this Agreement, in part or in whole, without the prior written approval of Party A. 

 

	12.7	The failure to require performance fully and timely of any provision shall not affect a party’s rights to require performance of such provision or other provisions
of this Agreement at any time thereafter. 

  

	12.8	If a Force Majeure Event affects the performance of this Agreement, the Party affected by the Force Majeure Event shall immediately notify the other Party by means of
telegraph, fax or other electronic forms, and shall furnish within fifteen (15) days thereafter sufficient evidence in writing of the occurrence of the Force Majeure Event. According to the Force Majeure’s impact on the performance of this
Agreement, the Parties determine whether to release this Agreement, exempt the performance responsibility in part, or delay the performance. 

  

	12.9	Unless otherwise provided under this Agreement, “day” means calendar day, “business day” means the normal business day of Chinese commercial banks.

  

	12.10	The annexes of this Agreement shall be considered as an integral part of this Agreement, and have the same effect. 

 

	12.11	This Agreement is executed in 4 originals and each Party holds two originals. Each Party has caused this Agreement to be executed by its duly authorized representative
on the date of [date]: 

  
 6 

  

					
	 Party A: Beijing Decision Education & Consulting Co., Ltd.

			
	 Authorized representative (signature):
	  	 /s/ authorized signature or seal
	  	

  

					
	 Party B: [Name of a school or subsidiary of New Oriental China]

			
	 Authorized representative (signature):
	 	 /s/ authorized signature or seal
	  	

  
 7 

 English Translation 

Schedule of Material Differences 
 One or more schools or subsidiaries of New Oriental China entered into new enrollment system development service agreement using this form. Pursuant to Instruction ii to Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit with a schedule setting forth the material details in which the executed agreements differ from this form: 

 

							
	 Party B
	  	 Date of

Effectiveness
	  	 Fee (per / enrollment)
	  	 Renewal

				
	 Guangzhou Haizhu District Privately-Funded New Oriental Training School
	  	4/25/2005	  	RMB15 / enrollment	  	Note -1
				
	 Tianjin New Oriental Training School
	  	10/31/2005	  	RMB30 / enrollment	  	Note -2
				
	 Xi’an Yanta District New Oriental School
	  	10/31/2006	  	RMB30 / enrollment	  	Note -1
				
	 Nanjing Gulou New Oriental Advanced Study School
	  	10/31/2005	  	RMB30 / enrollment	  	Note -2
				
	 Shenzhen New Oriental Training School
	  	10/31/2005	  	RMB30 / enrollment	  	Note -2
				
	 Chongqing New Oriental Training School
	  	10/31/2006	  	RMB30 / enrollment	  	Note -2
				
	 Chengdu New Oriental School
	  	11/25/2005	  	RMB30 / enrollment	  	Note -2

  
 8 

							
	  
 Party B
	  	 Date of

Effectiveness
	  	 Fee (per / enrollment)
	  	 Renewal

				
	 Changsha Furong District New Oriental Training School
	  	10/31/2005	  	RMB30 / enrollment	  	Note -2
				
	 Taiyuan New Oriental Training School
	  	8/25/2005	  	RMB30 / enrollment	  	Note -1
				
	 Changchun New Oriental Training School
	  	10/31/2005	  	RMB30 / enrollment	  	Note -2
				
	 Suzhou New Oriental School
	  	5/1/2006	  	RMB30 / enrollment	  	Note -2
				
	 Kunming Xishan New Oriental School
	  	10/31/2006	  	RMB30 / enrollment	  	Note -2

  
 9 

							
	  
 Party B
	  	 Date of

Effectiveness
	  	 Fee (per / enrollment)
	  	 Renewal

				
	 Lanzhou Chengguan District New Oriental School
	  	3/1/2008	  	 RMB30 / enrollment
	  	Note -2
				
	 Xiamen Siming District New Oriental Education Training School
	  	10/31/2009	  	RMB30 / enrollment	  	Note -2

  

			
		
	Note -1	  	10.1 Upon the expiration, this Agreement can be extended as agreed upon by both Parties.
		
	Note -2	  	10.1 Upon the expiration, the term may be renewed for another five years upon agreement of both Parties, and the times of renewal shall be unlimited.

  
 10 

 English Translation 

 
 New Enrollment System
Development Service Agreement 
 Party A: [Name of a subsidiary of New Oriental China] 

Party B: Beijing Decision Education & Consulting Co. Ltd. 

 

	(1)	WHEREAS, Party A, a private school in China engaged in providing language training and relevant courses, needs Party B to provide it the research and development
technical service of New Enrollment System; and 

  

	(2)	WHEREAS, Party B, a wholly foreign owned enterprise duly organized and existing under PRC law, owns considerable ability in software development and technical service,
and possesses experience of the business associated therewith. 

 NOW, THEREFORE, through friendly negotiation and on the
principle of equality and mutual benefit, to the research and development technical service of New Enrollment System provided by Party B to Party A and the payments made by Party A for using New Enrollment System under this Agreement, Parties hereby
agree as follows. 
  

	1.	General Rules 

  

	1.1	“New Enrollment System” means the New Enrollment System researched and developed on the basis of “Decision New Enrollment System Software V3.0” by
Party B according to Party A’s requirements, and used legally by Party A within the agreed scope (the “System”). 

  

	1.2	Responsibility of system development: under the premise of acquaintance to the business procedure of Party A, Party B shall organize professional staff to develop the
System in accordance with the business and function demands of Party A. Without written consent of Party A, Party B shall not assign the System development responsibility to any third party, in whole or in part. 

 

	1.3	System development term: upon the effectiveness of this Agreement, Party B shall fully complete the design and compilation of the System no later than [date]. Party B
shall assume unconditional obligations of amendment, upgrading or correction obligations in system functional defect, security defect and interface defect, if such defect still exists after the checking and acceptance. 

  
 1 

 English Translation 

 
  

	1.4	Maintenance of the System and training: Party B shall be responsible for providing training to Party A’s staff on the installation, use, daily maintenance and
malfunction check of the System. Party B shall provide maintenance service to deal with the System’s malfunctions in the using process by Party A. 

  

	1.5	Technical service fees: means the sum of fees to be paid by Party A to Party B pursuant to Article 8.2 of this Agreement for the use of the System and the subsequent
technical support and system upgrading services. 

  

	2.	System Function 

  

	2.1	Under the premise of profound consultation between Party A and Party B, Party A is responsible for communicating its demands to Party B, and Party B is responsible for
realizing system functions. 

  

	2.2	Final confirmation of system function shall be set forth in the written documents attached to this Agreement as an annex, which has legal effect together with this
Agreement. 

  

	2.3	After the System has been checked, accepted and used normally by Party A, Party B may upgrade or expand the System under Party A’s commission for business
expansion and alternation of Party A. 

  

	3.	System Defect 

  

	3.1	If there is any functional defect or operation interface defect in part after the System has been checked and accepted by Party A, Party A shall inform Party B in
writing. Party B shall respond within 12 hours after accepting the notice, and eliminate the impediment unconditionally through amending, upgrading or correcting the program within the period confirmed by both Parties at party B’s own expenses.
Party B shall be liable for the damages of Party A thus caused. 

  

	3.2	If there is any data security defect existing after the System has been checked and accepted by Party A, Party B shall be liable pursuant to the provision of data
security responsibility in Article 7 of this Agreement. 

  

	4.	Technical Services 

  

	4.1	The way and the content of the technology service: 

  

	4.1.1	Party B shall provide Party A technical consulting services, including the regulation and organization of business procedures, and the regulation of the authority to
access the System and position responsibility. 

  
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	4.1.2	Party B shall provide Party A training assessment services, including training on the use of the System and training assessment system; which will be used as a basis
for determining whether trainees are qualified for certain positions. 

  

	4.1.3	Party B shall provide Party A data services, including original data and methodology; provide data support for marketing purpose and business expansion; provide distant
assistance for the completion of Party A’s database. 

  

	4.1.4	Party B shall resolve the System malfunction within 24 hours after receiving the notice during the course of normal use, except that the malfunction arises from the
System defect which is defined in Article 3 of this Agreement. 

  

	4.1.5	Party A shall conduct training of installation, use, daily maintenance, bug detection to at least one person within seven days after the checking and acceptance. Party
A shall at least designate one person to attend the training. 

  

	4.1.6	Both Parties shall conduct trainings set forth in Article 4.1.5 after the adjustment, upgrade and revision of the System. 

 

	5.	Intellectual Property and Source Code 

  

	5.1	The system is developed by Party B and both Parties have the right to use the System. 

 

	5.2	Party B owns the whole intellectual property rights and the right of authorship of the System. 

 

	5.3	Party B possesses all the source codes of the System. 

  

	6.	System’s Checking and Acceptance 

  

	6.1	System shall be delivered to Party A from Party B for checking and acceptance no later than [date]. In the event that Party B delays in delivery, it shall pay Party A
liquidated damages equal to 1% of the contract price per day under this Agreement. In the event of a delay for over 30 days, Party A is entitled to reject acceptance. 

 

	6.2	System’s checking and acceptance can be conducted by either Party A or its designated institutions. 

  
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	6.3	Party A shall appoint its employees to conduct checking and acceptance within seven days upon the delivery by Party B. Checking and acceptance shall be deemed to have
been conducted by Party A if Party A fails to complete checking and acceptance within the seven-day period. 

  

	6.4	If the checking and acceptance delays or fails to pass, Party A can terminate this Agreement. Party B shall refund payments to Party A and compensate Party A for its
losses. 

  

	7.	Responsibility of Data Security 

  

	7.1	Party B shall ensure the System’s data security of Party A in the course of designing and developing of the System. Responsibilities on system data security
include but not limited to preventing illegal encroachment, preventing destruction of the System by computer virus, data recovery and back-up. 

  

	7.2	Party B shall not be exempted from its liability for any encroachment to the System resulting from its adopting a third party’s software or hardware in its plan of
system data security design. 

  

	7.3	If there exists any data security defect after the System has been checked and accepted and such defect results in losses of Party A, within 24 hours upon the receipt
of Party A’s notice, Party B shall unconditionally eliminate the impediment, recover the data and amend, upgrade or correct the data security system. Party A reserves the right to claim against Party B for compensation of any and all of its
losses. 

  

	8.	Payment 

  

	8.1	Party A shall pay technical service fees to Party B for the use of the System and subsequent technical support and upgrading services. 

 

	8.2	Both Parties agree that the technical service fees under this Agreement is [    ] Yuan/per student per enrollment. Party B may charge such fees upon
the acceptance of the System on [date]. The fee rate under this Agreement is an absolute amount for each enrollment; Party B has the right to adjust the fee upon written notice to Party A at any time for any reason. Party A shall accept the adjusted
fee in accordance with the Party B’s written notice. If the fee rate is not confirmed, then the latest rate shall apply. 

  

	8.3	The calculation basis of fees (the number of enrollments) shall be provided by Party A, and Party B reserves the right to check the data provided by Party A.

  
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	8.4	Unless otherwise notified by Party B to Party A , the technical service fees under this Agreement shall be paid by Party A quarterly to the bank account designated by
Party B, and Party B shall issue formal invoice to Party A. 

  

	8.5	Taxes and expenses arising out of the execution and implementation of this Agreement shall be borne by both Parties. 

 

	9.	Liability for Breach of Contract 

  

	9.1	In the event that Party A assigns the right to use the System provided hereunder to a third party without consent of Party B, Party B is entitled to request Party A to
stop infringing acts and indemnify Party B and hold Party B harmless. Party A shall compensate twice of its profit generated from such infringement to Party B, Party B reserves its right to take any legal actions. 

 

	9.2	In the event that Party B breaches this Agreement and causes losses and damages to Party A’s teaching operation, Party B shall compensate Party A twice of its
losses. 

  

	9.3	In the event that Party A fails to pay the fees provided under this Agreement to Party B in time, it shall pay to Party B liquidated damages equal to 0.05% of the
overdue payment per day. When overdue for thirty (30) days, Party B shall have the right to terminate this Agreement. 

  

	10.	Term and Termination 

  

	10.1	The term of this Agreement shall be from [date] to [date], commencing from the date upon being stamped. Unless otherwise notified by Party B to Party A to terminate
this Agreement, this Agreement shall be renewed automatically. The number of time and term of renewal shall be unlimited. Party B may terminate this Agreement unilaterally at any time. Without the consent of Party B, Party A shall not terminate this
Agreement. 

  

	10.2	Any Party will be deemed breaching of contract if it fails to perform any obligation hereunder; the non-breaching party is entitled to issue a written notice of
termination of this Agreement to the breaching party if the breach is not cured or remedied by the breaching party within sixty (60) business days upon the issuance of the written notice, and under such circumstance this Agreement may be
terminated thereafter. If the breach is cured within sixty (60) business days upon the issuance of the written notice, this Agreement will remain effective. 

  
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	11.	Dispute Resolution 

  

	11.1	The Parties shall use their best efforts in good faith to amicably settle any dispute arising out of the performance of this Agreement. If the Parties fail to reach a
settlement Agreement, any party can submit the disputes to Beijing Arbitration Commission for arbitration in Beijing in accordance with its rules of arbitration in effect. The arbitral award shall be final and binding upon both Parties.

  

	11.2	“Dispute” in this clause means the dispute to the formation, time of formation, interpretation, performance, default liability, and modification, assignment,
termination and expiry of this Agreement. 

  

	12.	Miscellaneous 

  

	12.1	The Parties hereto may enter into supplemental contracts for the matters not mentioned herein through negotiation. Supplemental contracts shall have equal effect to
this Agreement. 

  

	12.2	Any provision of this Agreement shall be deemed as severable in a jurisdiction where it conflicts to the laws in this jurisdiction. Any unenforceability of a provision
in a jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

  

	12.3	This Agreement together with the documents incorporated hereinto constitutes the full and entire understanding and Agreement among the Parties with regard to the
subjects hereof and thereof. Except for those specifically set forth herein or therein, the Parties are not bound by any other conditions, provisions, warranties or representations. 

 

	12.4	Any amendments to this Agreement shall be made in written and shall become effect after the signing and stamping by authorized representatives of both Parties. Such
amendments shall have the same effect as this Agreement. 

  

	12.5	The execution, validity, interpretation, performance, modification, termination and dispute resolution of this Agreement will be governed by PRC laws.

  

	12.6	Party A shall not assign this Agreement, in part or in whole, to any third party without the prior consent of Party B. 

 

	12.7	A party’s failure to require the other party to fully and timely perform any provision of this Agreement shall not be deemed as its wavier to require the other
party’s performance of this provision at any time thereafter. 

  
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	12.8	If a force majeure event affects the performance of this Agreement, the affected party shall immediately notify the other Party by means of telegraph, fax or other
electronic forms, and shall furnish within fifteen (15) days thereafter sufficient evidence of the occurrence of the force majeure event. According to impact of the force majeure event to the performance of this Agreement, the Parties shall
determine whether to terminate this Agreement through negotiation, waive the performance responsibility in part, or postpone the performance. 

  

	12.9	Unless otherwise provided under this Agreement, a “day” means a calendar day, and a “business day” means the normal business day of commercial banks
in China. 

  

	12.10	The annexes of this Agreement shall be considered as an integral part of this Agreement, and have the same effect as this Agreement. 

 

	12.11	This Agreement is executed in three originals with each party holding one and the third one being filed with Technology Market. 

Each party has caused this Agreement to be effective from the date of [date]: 

 

			
	Party A: [Name of a subsidiary of New Oriental China]
		
	Authorized representative (signature):	 	 /s/ authorized signatory or seal

	
	Party B: Beijing Joy Tend Technology Co. Ltd.
		
	Authorized representative (signature):	 	 /s/ authorized signatory or seal

  
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 Schedule of Material Differences 

One or more subsidiaries of New Oriental China entered into New Enrollment System Development Service Agreement using this form. Pursuant to instruction
ii to Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit with schedule setting forth the material details in which the executed Agreements differ from this form: 

 

					
	 Party A
	  	Date of
Effectiveness	  	Fee (per/enrollment)
			
	 Jilin Chuanying District New Oriental School
	  	2/1/2013	  	RMB 30/enrollemnt

  
 8

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