Document:

Exhibit 10.61

 

Loan
Agreement

 

This Loan Agreement
(this “Agreement”) is entered into by the following parties (the “Parties”) on June 29, 2017 in
the People’s Republic of China (“PRC”):  

 

Lender: Beijing
Ambow Shengying Education Technology Co., Ltd. 

Address: Room
A1805,18th Floor,, No.18 North Taipingzhuang Road, Haidian District, Beijing 100088, People’s Republic of China. 

Contact: Jin
Huang  

 

Borrowers:
Gang Huang  

 

(Gang Huang are
hereinafter collectively referred to as “Borrowers”) 

 

WHEREAS: 

 

(1)      Ambow
Sihua Education and Technology Co., Ltd. (the “Domestic Company”) is a domestic enterprise lawfully established under
the laws of China, with a registered capital of RMB 9385 million, of which RMB 5385 million is contributed by Xuejun
Xie, representing 57,38 % equity interest in the Domestic Company; RMB 4000 million is contributed by Gang Huang,
representing 42.62 % equity interest in the Domestic Company; 

 

(2)      Lender
is a wholly-owned foreign enterprise established in China (“Lender”); 

 

Through friendly
consultations and in the spirit of equality and mutual benefits, the Parties agree as follows: 

 

1.        Loan
 

 

1.1      Lender
agrees to provide a loan to Gang Huang, the principal of which amounts to RMB 4000 million (collectively “Loans”).
 

 

1.2      Borrowers
agree to accept the aforementioned Loans provided to them respectively by Lender and assume responsibilities in connection with
their respective share in the Loans.  

 

1.3      The Parties
agree that the Loans under this Agreement shall bear no interest. 

 

2.        Pledge
Security  

 

Borrowers hereby
undertake that the Loans hereunder shall be only used to repay the loans borrowed for purposes of making equity investment in the
Domestic Company. Without Lender’s prior written consent, Borrowers shall not use their equity interest in the Domestic Company
to pledge, assume obligations, create any third party interests, or transfer such equity interest to any third party. 

 

     

     

    

 

3.        Repayment
 

 

3.1      Borrowers
and Lender hereby mutually agree and acknowledge that, to the extent permitted by the PRC laws, Lender shall determine at
its sole discretion the timing and method of the repayment of the loan hereunder and notify
Borrowers in writing of such arrangements seven (7) days in advance. Borrowers and Lender further agree that Borrowers shall
not early repay the loan to Lender unless Lender notifies Borrowers in writing that the Loans hereunder have expired or as
otherwise provided herein.  

 

3.2      The Parties
agree that, subject to the PRC laws and necessary approvals of the PRC government (if applicable), if Borrowers transfer all or
part of their equity interest in the Domestic Company to Lender or a third party designated by Lender in accordance with the provisions
of the Call Option Agreement entered into between Borrowers and Lender on the even date herewith (including any amendments thereafter),
the loan that the Borrower shall repay to Lender under this Agreement and is equivalent in amount to the price of the transferred
equity interest (“Price of Transferred Shares”, as defined below) shall be deemed repaid. For the purposes of this
Section, the Price of Transferred Shares shall be calculated as follows: Price of Transferred Shares = Total Amount of Loans x
(Number of Transferred Shares/Total Number of Shares).  

 

3.3      If the
offset of the Price of Transferred Shares provided in Section 3.2 above is not allowed under applicable PRC laws, Borrowers shall
use all the proceeds from the sale of all the equity interest they have in the Domestic Company to repay the debt hereunder. After
the payment of all the proceeds they receive to Lender (applicable taxes and fees deducted), Borrowers’ Loans hereunder shall
be deemed fully repaid.  

 

3.4      Borrowers
and Lender hereby mutually agree and acknowledge that, under any of the following circumstances, Borrowers shall repay the loan
immediately:  

 

(1)      Borrowers
are dead, or have no legal capacity or restricted legal capacity; 

 

(2)      Borrowers
resign or are dismissed from Lender or an affiliate of Lender; 

 

(3)      Borrowers
commit a crime or are involved in a crime;  

 

(4)      Any other
third party claims against Borrowers for payment of any debt above RMB 100,000. 

 

4.        Representations
and Warranties  

 

4.1      Borrowers
make the following representations and warranties to Lender and acknowledge that Lender executes and performs this Agreement in
reliance on such representations and warranties:  

 

(1)      The Domestic
Company is a limited liability company duly incorporated and existing under the PRC laws. Its registered capital has been fully
paid in. It has obtained the capital verification report issued by a qualified accounting firm showing that the capital has been
paid in full;  

 

     

     

    

 

(2)      The Domestic
Company has completed and obtained all government approvals, authorizations, licenses, registrations and filings necessary to operate
the businesses specified in its business license and to own its assets; 

 

(3)      Borrowers
lawfully hold equity interest in the Domestic Company, of which Gang Huang holds 42.62 %. 

 

(4)      Borrowers
have the right to execute and perform this Agreement; Borrower’s execution and performance of this Agreement are in compliance
with the articles of association and other constitution documents of the Domestic Company; Borrowers have obtained all necessary
and appropriate approvals and authorizations to execute and perform this Agreement. 

 

(5)      Borrowers’
execution and performance of this Agreement shall not violate any laws, regulations, or government approvals, authorizations, notices
or other government documents which they are subject to or may be affected, nor shall such execution and performance violate any
agreements entered into by Borrowers with any third party or any undertakings made to any third party; 

 

(6)      Upon execution,
this Agreement shall constitute lawful, valid obligations that may be enforced against Borrowers according to law. 

 

(7)      Except
as provided in the Pledge Agreement and the Call Option Agreement, Borrowers do not place any mortgage, pledge or any other security
on the equity interest it holds in the Domestic Company, do not make any offer to transfer such equity interest to any third party,
do not make any warranties as to any offer of any third party to acquire such equity interest, and do not enter into any agreement
with any third party in connection with the transfer of the equity interest that Borrowers hold in the Domestic Company; 

 

(8)      There
is no actual or potential dispute, lawsuit, arbitration, administrative proceedings or any other legal proceedings relating to
the equity interest that Borrowers holds in the Domestic Company. 

 

4.2      Lender makes
the following representations and warranties to Borrowers:  

 

(1)      It will
execute and perform this Agreement within its corporate power and business scope; it has taken necessary corporate actions and
appropriate authorizations and obtained consents and approvals from third parties and government departments, and it will not violate
any legal and contractual restrictions which it is subject to or may be affected; 

 

(2)      Upon execution,
this Agreement shall constitute lawful, valid and binding obligations that may be enforced against Lender in accordance with the
terms hereof.  

 

5.        Borrowers’
Undertakings  

 

5.1      Borrowers
undertake that, during the term of this Agreement, they shall: 

 

(1)      not sell, transfer, pledge or otherwise
dispose of, or allow any other security interest to be created

on the equity
interest or other interests they hold in the Domestic Company other than the equity pledge and other rights created for the benefit
of Lender;  

 

     

     

    

 

(2)      not vote to agree at any shareholders’
meetings of the Domestic Company or support or sign any shareholders’ resolutions that approve the sale, transfer, pledge
or disposal of the legal and beneficial interests in the equity interest of the Domestic Company, or allow any other security interest
to be created on such interests without Lender’s prior written consent, other than to Lender or a person designated by Lender;

 

(3)      not vote
to agree at any shareholders’ meetings of the Domestic Company or support or sign any shareholders’ resolutions that
approve the Domestic Company’s merger or affiliation with any company or the acquisition of or investment in any company
without Lender’s prior written consent;  

 

(4)      notify
Lender immediately of any action, arbitration or administrative proceedings in relation to the equity interest in Domestic Company
that have occurred or may occur;  

 

(5)      execute
all necessary or proper documents, take all necessary or proper actions, and bring in all necessary or proper indictments or make
necessary or proper defenses against all claims in order to maintain their ownership of the equity interest in the Domestic Company;
 

 

(6)      not commit
any act or omission that may significantly affect the Domestic Company’s assets, business and liabilities without Lender’s
prior written consent;  

 

(7)      appoint
any person nominated by Lender as the Board member of the Domestic Company at the request of Lender; 

 

(8)      immediately
and unconditionally transfer all of their equity interest in the Domestic Company to Lender and/or a person designated by Lender
subject to and to the extent permitted by the PRC laws in the event that Lender exercises the Call Option set forth herein; 

 

(9)      not request
the Domestic Company to distribute dividends or profits to them without Lender’s consent; 

 

(10)    repay
Lender all equity transfer proceeds as the principal of the Loan and the interest or the cost of occupied funds permitted under
the laws as soon as they transfer the equity interest in Domestic Company to Lender or a person designated by Lender; and 

 

(11)    strictly
comply with various provisions hereof, duly perform all their obligations hereunder, and not commit any act or omission that is
sufficient to affect the validity and enforceability of this Agreement. 

 

5.2      Borrowers
undertake that, during the term of this Agreement, as the shareholders of the Domestic Company, they shall cause the Domestic Company:
 

 

(1)      not to supplement, alter or modify its
constitutional documents in any way, or increase or decrease

its registered
capital, or change its capital structure in any way without Lender’s prior written consent; 

 

(2)      to maintain
its existence in accordance with good financial and business standards and practice, and operate its business and handle its affairs
diligently and efficiently;  

 

(3)      not to
sell, transfer, pledge or otherwise dispose of its lawful or beneficial interest in any assets, business or income at any time
from the date hereof, or allow any other secure interest to be created on such interest without Lender’s prior written consent;
 

 

     

     

    

 

(4)      not to incur, assume, guarantee or allow
the existence of any obligations without Lender’s prior written consent, other than (i) any obligations arising during the
ordinary course of business rather than by means of loans and (ii) any obligations that have been disclosed to and approved by
Lender;

 

(5)      to operate
all its business during the ordinary course of business all the time to maintain its asset value; 

 

(6)      not to
enter into any material contract (for the purposes of this paragraph, if a contract’s value is more than RMB 1 million, it
shall be deemed as a material contract) without Lender’s prior written consent except during the ordinary course of business;
 

 

(7)      to provide
Lender with all information about its operations and financial conditions at the request of Lender; 

 

(8)      not to
merge or affiliate with any company or acquire or invest in any company without Lender’s prior written consent; 

 

(9)      not to
distribute dividends to shareholders without Lender’s prior written consent, and to immediately distribute all of its distributable
profits to its shareholders at the request of Lender;  

 

(10)    to notify
Lender immediately of any action, arbitration or administrative proceedings in relation to its assets, business and revenue that
have occurred or may occur;  

 

(11)    to execute
all necessary or proper documents, take all necessary or proper actions, and bring in all necessary or proper indictments or make
necessary or proper defenses against all claims in order to maintain its ownership of all of its assets; and 

 

(12)    to strictly
comply with the service agreement and other agreements entered into with any affiliate of Lender, duly perform all its obligations
under the service agreement and other agreements, and not to commit any act or omission that is sufficient to affect the validity
and enforceability of the service agreement and other agreements. 

 

6.        Breach
 

 

Where Borrowers
fail to repay Lender the Loans in accordance with this Agreement, Borrowers shall pay Lender overdue interest at a daily rate of
0.01% for any loan which is due and payable but has not been repaid. 

 

7.        Effectiveness
and Termination  

 

This Agreement
shall come into effect from the date of execution by the Parties and terminate after Borrowers fully repay the Loans under this
Agreement.  

 

     

     

    

 

8.        Confidentiality
 

 

8.1      Either
Party agrees to use its best endeavors to take all reasonable measures to keep confidential all confidential materials and information
that is known to or accessed by it by means of disclosure by the other Party (“Confidential Information”). Without
the disclosing Party’s prior written consent, the receiving Party shall not disclose, give or transfer any such Confidential
Information to any third party. Upon termination of this Agreement, the receiving Party shall return to the disclosing Party or
destroy any documents, materials or software that may contain the Confidential Information at the disclosing Party’s request,
and delete any confidential information from any relevant memory devices, and shall not continue to use such Confidential Information.
 

 

8.2      The Parties
agree that this Section shall survive regardless of whether this Agreement is altered, terminated or expired. 

 

9.        Notices
 

 

9.1      Any notices
or other communications given by either Party as required hereunder shall be written in Chinese, and sent to the other Party’s
address by personal delivery, or generally accepted courier service or facsimile. 

 

9.2      If the
notices are sent by personal delivery, they shall be deemed as effectively given on the date of delivery; if they are sent by facsimile,
they shall be deemed as effectively given on the day following the date of facsimile transmission; if they are sent by courier,
they shall be deemed effectively given on the day shown on the return receipt. 

 

10.     Governing
Law and Dispute Resolution  

 

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

 

10.2    If any
dispute arises between the Parties in connection with the interpretation and performance of the terms hereof, the Parties shall
negotiate in good faith to resolve such dispute. If no agreement can be reached, either Party may submit such dispute to the China
International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules.
The arbitration shall be held in Chinese in Beijing. The award of the arbitration shall be final and binding on both Parties. 

 

10.3    Except
the matters in dispute, the Parties shall continue to perform their respective obligations hereunder in good faith in accordance
with the provisions hereof.  

 

11.     Miscellaneous
 

 

11.1    Any amendment
and supplement to this Agreement shall be made by written agreement duly signed by the Parties. Any signed amendment and supplement
constitutes a part of this Agreement and shall have the same force and effect as this Agreement. 

 

11.2    Borrowers
shall not assign their rights and obligations hereunder to any third party without Lender’s prior written consent. 

 

     

     

    

 

11.3    If any
provisions hereof are deemed unlawful or unenforceable under applicable laws, such provisions shall be deemed deleted from this
Agreement and invalid. However, this Agreement shall remain effective and shall be deemed not having such provisions from the beginning.
The Parties shall discuss with each other to replace the deleted provisions with lawful and valid provisions that are acceptable
to Lender.  

 

IN WITNESS WHEREOF,
the authorized representatives of the Parties have executed this Agreement on the date first above written. 

 

Beijing Ambow Shengying Education Technology
Co., Ltd.

 

	Authorized Representative:  	/s/	 
	 	 	 
	Gang Huang	 	 
	 	 	 
	Signature: 	/s/Exhibit 10.62

 

Technology
Service Agreement

 

Between

 

Beijing
Ambow Shida Education Technology Co., Ltd.

 

And

 

Beijing
Ambow Chuangying Education Technology Co., Ltd.

 

June
29, 2017

 

     

     

    

 

This Technology
Service Agreement (this “Agreement”) is entered into by the following parties on June 29, 2017: 

 

(1)      Beijing Ambow Shida Education Technology
Co., Ltd. (“Party A”), a limited liability company duly established and validly existing under the laws of the People’s
Republic of China (“China”), with its registered address at Room 1002, 10th Floor, Zijn building, No.68 Wanquanhe Road,
Haidian District, Beijing and

 

(2)      Beijing Ambow Chuangying Education Technology
Co., Ltd. (“Party B”), a limited liability company duly established and validly existing under the laws of China, with
its registered address at Room A1803,18th Floor, No.18 North Taipingzhuang Road, Haidian District, Beijing

 

WHEREAS: 

 

(1)      Party
A engages in education information consulting, business administration consulting and commercial consulting (excluding broker services);
business marketing and planning; internal employee training;  

 

(2)      Party
B has expertise and experience in the design and development of software and hardware; 

 

(3)      Party
A and Party B (collectively referred to as the “Parties”) plan to promote their business development by mutual cooperation
and developing their respective advantages.  

 

NOW THEREFORE,
the Parties agree as follows through friendly consultations:  

 

Section 1
– Terms of Service  

 

1.1      Party
A hereby agrees to engage Party B as Party A’s exclusive technology service provider, and Party B hereby agrees to accept
such engagement.  

 

1.2      Party
A agrees that Party A shall not engage any other third party as its technology service provider without Party B’s prior written
consent during the term of this Agreement.  

 

1.3      Party
A agrees that Party B shall have the right to provide other entities or individuals with the technology service equivalent or similar
to that hereunder and to appoint other entities or individuals to provide the technology service hereunder. 

 

Section 2
– Scope of Service  

 

See Appendix
1 for the scope of relevant technology service provided by Party B to Party A. 

 

Section 3
– Service Fee  

 

3.1      The Parties
hereto agree that the fee for the technology service hereunder shall be determined and paid as specified in Appendix 2. 

 

     

     

    

 

3.2      If Party
A fails to pay service fee and other fees in accordance with the provisions of this Agreement, Party A shall pay Party B liquidated
damages at [0.05%] per day for the overdue amount.  

 

3.3      Party B shall have the right to, at
its own expense, appoint one of its employees or a certified public accountant it engages (“Party B’s Authorized Representative”)
to examine Party A’s accounts in order to review the calculation method and amount of the service fee. To that end, Party
A shall provide

Party B’s
Authorized Representative with documents, accounts, records, data, etc. that are necessary to audit Party A’s accounts and
to determine the amount of the service fee. Unless there is any significant error, the amount of the service fee shall be as determined
by Party B’s Authorized Representative.  

 

3.4      Unless
as otherwise agreed by the Parties, the service fee payable to Party B by Party A hereunder shall not be subject to any deduction
or offset (e.g. bank charges).  

 

3.5      In addition
to the service fee described above, Party A shall pay Party B with the actual costs incurred by Party B for rendering consulting
services hereunder, including without limitation, traveling expenses, car fare, printing expenses and postage. 

 

Section 4
– Confidentiality  

 

4.1      The Parties
acknowledge that, during the term of this Agreement, either Party may obtain (1) the other Party’s non-public information,
technical data, trade secrets or know-how relating to the actual and expected business or research and development of either Party,
including without limitation research, product plans or other information relating to either Party’s products or services
or promotions for products or services, customers’ lists and customers, software, development, invention, processes, formula,
technologies, designs, drawings, engineering, hardware configuration information, marketing, financial or other business information,
and (2) any third party’s confidential or proprietary information for which either Party assume confidentiality obligations
and which shall be only used for certain limited purposes (“Confidential Information”). The Confidential Information
does not include(1) any information that one Party already knows at the time such information is disclosed to such Party by the
other Party; (2) any information that becomes public known or generally available not because of either Party’s illegal conduct;
or (3) the information lawfully obtained by one Party from a third party authorized to make the disclosure. 

 

4.2      Either
Party will take reasonable measures to keep confidential the other Party’s Confidential Information and prevent disclosure
and unauthorized use of such Confidential Information. Without limiting the foregoing, the Parties will at least take such measures
as it will take for its own Confidential Information. Unless as reasonable required for the performance of its obligations hereunder
or unless as the other Party approves in writing, neither Party shall make any copy of the other Party’s Confidential Information.
Either Party shall reproduce the other Party’s proprietary rights notices on any approved copy in the manner in which such
notice was set forth in or on the original.  

 

4.3      Either
Party shall (1) not disclose such Confidential Information to any person other than any of its directors, employees, authorized
agents or independent contractors who need to know such Confidential Information to perform their duties hereunder; (2) only use
Confidential Information for the purposes of fully performing its obligations hereunder; and (3) ensure any person from such Party
who knows Confidential Information comply with the confidentiality obligations and other restrictive provisions hereunder as if
such person were a party hereto. If one Party is required by law to disclose the other Party’s Confidential Information,
such Party shall promptly notify the other Party in writing of such requirement prior to the disclosure, and shall assist the other
Party in securing the order to protect such information against public disclosure. Neither Party shall reverse engineer, dissemble
or decompile any prototype, software or any tangible object that contains the other Party’s Confidential Information and
that is provided to such Party.  

 

     

     

    

 

4.4      Either
Party further agree to return to the other Party all written Confidential Information obtained from the other Party upon termination
of this Agreement or at any other time requested by the other Party. 

 

Section 5
– Intellectual Property  

 

5.1      The Parties acknowledge and agree that Party B shall exclusively own all technical data, software, findings, inventions, developments,
trade secrets, copyrights, documents and other materials improved or prepared by Party B under this Agreement, whether they are
patentable or copyrighted.

 

5.2      If Party
A makes improvements to “intellectual property”, such improvements shall be Party B’s exclusive proprietary property.
Party A hereby transfers to Party B all of its rights, title and interests in and to such improvements. 

 

Section 6
– Independent Contractor  

 

The Parties expressly
acknowledge and agree that Party B performs all the technology services hereunder as an independent contractor, and shall not be
deemed to enter into any partnership, joint venture or other relationships of substantially the same or similar nature with Party
A.  

 

Section 7
– Representations and Warranties  

 

7.1      Party A represents
and warrants that:  

 

(1)      Party
A is a company duly registered and validly existing under the laws of China; 

 

(2)      Party
A’s execution and performance of this Agreement is within its corporate power and business scope; it has taken necessary
corporate action and obtained proper authorization as well as the consents and approvals of third parties and government departments;
and it does not violate any legal or corporate restrictions binding upon or affecting it. 

 

(3)      Upon execution,
this agreement shall constitute Party A’s legal, valid and binding obligations that may be enforced against it in accordance
with the terms hereof.  

 

7.2      Party B represents
and warrants that:  

 

(1)      Party
B is a company registered and validly existing under the laws of China; 

 

(2)      Party
B’s execution and performance of this Agreement is within its corporate power and business scope; it has taken necessary
corporate action and obtained proper authorization as well as the consents and approvals of third parties and government departments;
and it does not violate any legal or corporate restrictions binding upon or affecting it. 

 

     

     

    

 

(3)      Upon execution,
this agreement shall constitute Party B’s legal, valid and binding obligations that may be enforced against it in accordance
with the terms hereof.  

 

Section 8
– Liability for Breach  

 

8.1      Either
Party’s direct or indirect violation of any provisions hereof or failure to perform its obligation hereunder or failure to
perform such obligation in a timely and adequate manner shall constitute breach of this Agreement. The non-breaching Party (“Non-Breaching
Party”) shall have the right to require the breaching Party (“Breaching Party”) by written notice to redress
its breach.  

 

8.2      After
the occurrence of the breach, if, according to the reasonable and objective judgment of the Non-Breaching Party, such breach has
made it impossible or unfair for the Non-Breaching Party to perform its relevant obligations hereunder, then the Non-Breaching
Party shall have the right to notify the Breaching Party in writing that the Non-Breaching Party will suspend the performance of
its relevant obligations hereunder until the Breaching Party ceases such breach. 

 

8.3      Party
B’s liability arising out of this Agreement shall be limited to the amount of service fee received by Party B hereunder.
In no event shall Party B be liable for any special, incidental, indirect or direct damages arising out of this Agreement. 

 

Section 9
– Force Majeure  

 

9.1      “Force
Majeure” means any event that is beyond the reasonable control of the Parties hereto, unable to be foreseen or unable to
be overcome even foreseen, which impedes, affects or delays either Party’s performance of all or part of its obligations
under this Agreement. Such event includes without limitation any government act, act of God, war, hacker attack or any other similar
event.  

 

9.2      The Party
affected by a Force Majeure event may suspend the performance of its relevant obligations hereunder that cannot be performed due
to the Force Majeure until the effect of such Force Majeure event is eliminated, and shall not be held liable for such suspension.
However, such Party shall use its best endeavor to overcome such event and mitigate its negative effect. 

 

9.3      The Party
affected by a Force Majeure event shall provide the other Party with a legitimate certificate issued by a notary public (or other
proper agency) in the place where such event occurs to evidence the occurrence of such Force Majeure event. If such Party cannot
provide such certificate, the other Party may hold such Party liable for breach in accordance with the provisions hereof. 

 

Section 10
– Effectiveness and Term  

 

This Agreement
shall come into effect from the date when it is signed by the Parties’ authorized representatives. This Agreement shall remain
effective unless it is terminated in accordance with the provisions hereof. 

 

     

     

    

 

Section 11
– Termination  

 

11.1    Party
B shall have the right to terminate this Agreement at any time during the term of this Agreement upon fifteen (15) days’
notice to Party A.  

 

11.2    If Party
A materially or continually breaches this Agreement, and fails to remedy such breach within fourteen (14) days upon receipt of
Party B’s notice specifying details of such breach (to the extent such breach is remediable), Party B shall have the right
to terminate this Agreement immediately by sending a written notice of termination to Party A. 

 

11.3    This
Agreement may be terminated at any time by a written agreement between Party A and Party B. 

 

Section 12
– Non-solicitation  

 

Party A shall
not take the following actions directly or indirectly in any manner for its own, any other individual or entity’s account,
or together with any other individual or entity: (1) causing any employee of Party B to terminate his employment with Party B by
solicitation, including employing or encouraging such employee; or attempting to solicit, induce, employ or encourage any employee
of Party B. (2) causing any existing or previous client of Party A to terminate its business relationship with Party B. 

 

Section 13
– Dispute Resolution  

 

13.1    If any
dispute arises in connection with the interpretation and performance of this Agreement, the Parties hereto shall first resolve
such dispute in good faith through discussions. If no agreement can be reached within sixty (60) days after one Party receives
the notice of the other Party requesting the beginning of discussions or any longer period agreed upon separately by the Parties,
either Party shall have the right to submit such dispute to the China International Economic and Trade Arbitration Commission for
arbitration in accordance with its then effective rules. The award of the arbitration shall be final and binding upon the Parties.
 

 

13.2    If any
dispute arises in connection with the interpretation and performance of this Agreement, or such dispute is under arbitration, either
Party shall continue to have the rights hereunder other than those in dispute and perform the obligations hereunder other than
those in dispute.  

 

Section 14
– Governing Law  

 

The execution,
validity, performance, interpretation and enforcement of this Agreement shall be governed by the laws of China. 

 

Section 15
– Assignment  

 

15.1    Party A shall not assign its rights and obligations hereunder to any third party without Party B’s prior written consent.

 

     

     

    

 

15.2    Party
A hereby agrees that Party B may assign its rights and obligations hereunder to any third party at its sole discretion, and Party
B only needs to send a written notice to Party A upon such assignment without obtaining Party A’s consent. 

 

15.3    This
Agreement shall inure to and be binding upon the Parties and their respective successors and permitted assigns. 

 

Section 16
– Severability  

 

If any provision
herein becomes partly or wholly invalid or unenforceable for violation of laws or government regulations or other reasons, then
the part of such provision that is affected shall be deemed as deleted. However, the deletion of such part of such provision shall
not affect the legal effect of other parts of such provision or the other provisions herein. The Parties shall cease to execute
such invalid or unenforceable provision, and modify such provision so that it has the closest intent to the original provision
and becomes valid and enforceable under relevant facts and circumstances. 

 

Section 17
– Amendment and Supplement  

 

The Parties may
amend and supplement this Agreement by written agreement. Any amendments or supplements in connection with this Agreement that
are duly signed by the Parties are part of this Agreement, and shall have the same force and effect as this Agreement. 

 

Section 18
– Miscellaneous  

 

18.1    The headings
herein are for convenience only, and shall not affect the interpretation of any provisions hereof. 

 

18.2    Unless
otherwise provided herein, either Party’s failure to exercise or delay in exercising any of its rights or powers hereunder
shall not be construed as a waiver of such rights or powers. Any single or partial exercise of any rights or powers shall not preclude
the exercise of other rights or powers.  

 

18.3    This
Agreement shall supersede any prior or concurrent verbal or written agreement, understanding and communication between the Parties
in connection with this Agreement. The Parties do not have any express or implied obligations or undertakings for the subject matter
herein except those specified in this Agreement.  

 

     

     

    

 

IN WITNESS HEREOF, the duly authorized representatives
of the Parties have executed this Agreement on the date first above written.

 

Party A: Beijing Ambow Shida Education Technology
Co., Ltd.

 

(Corporate Seal)

 

	Authorized Representative: 	/s /	 
	 	 	 
	Name:	 	 

 

Party B: Beijing Ambow Chuangying Education
Technology Co., Ltd.

 

(Corporate Seal)

 

	Authorized Representative: 	/s /	 
	 	 	 
	Name:	 	 

 

     

     

    

 

Appendix 1

 

Scope of Service

 

1.      Providing
Party A with programs relating to education and training;  

 

2.      Providing
Party A’s employees with proper training, technical support and assistance, including without limitation training and technical
support for education programs; and  

 

3.      Providing
Party A with administration and consulting services necessary for Party A’s business operations, including without limitation
administration and consulting for education programs.  

 

4.      Other arrangements relating to technology
services subject to mutual consent.

 

     

     

    

 

Appendix 2

 

Calculation and Payment of Service
Fee

 

1.      Party B shall provide Party A with bills
in the light of the service price by mutual consent and the actual workload.

 

2.      Party A shall pay the relevant service
fee in accordance with the date and the amount prescribed by the bill.

 

3.      Party A and Party B may make other arrangements
relating to the payment of the service fee subject to mutual consent.

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