Document:

EX-10.8

 Exhibit 10.8 

Exclusive Business Cooperation Agreement 

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on
January 3, 2017 in Beijing, the People’s Republic of China (“PRC” or “China”). 
  

	Party A:	 Wanleduo Network Technology (Beijing) Co., Ltd. 

Address: Room C022, 2/F, 88 Xiangshan Road, Haidian District, Beijing 

Party B: Beijing Xingengyuan Science and Technology Co., Ltd. 

Address: Room 1805A, 18/F, Building 5, No. 15 Hongjunying South Road, Chaoyang District, Beijing 

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 PRC, and has the necessary resources to provide
technical and consulting services; 

  

	2.	 Party B is a company established in PRC with exclusively domestic capital and is permitted to engage in
technology development, consulting, services, promotion and transfer by the relevant PRC government authorities; computer system services; basic software services; economic and trade consulting; conference services; design, production, agency and
release of advertisements; organization of cultural and art exchange events (excluding shows); business planning; arts and crafts designs; computer graphic designs; product designs; toys leasing; and sale of toys and handicraft articles, etc. 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. 

  
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 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 following: 

 

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

 

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

 

	 	(3)	 Design, installation, daily management, maintenance and updating of network systems, 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 promotional services for Party B; 

 

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

 

	 	(9)	 Leasing of equipment or assets; and 

 

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

  

	 	1.2	 Party B accepting such 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, methods, personnel, and fees for the specific services. 

  
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	 	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 assets 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 assets based on the needs of the business of Party B.

  

	 	1.3.3	 Party B hereby grants to 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, and 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. 

  

	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 a service fee to Party A in each month. The service fee for each month shall consist of a
management fee and a 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 in order to provide the services; 

 

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

 

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

  
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	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 other wise 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 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 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. 

  

	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 PRC; 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 authorization 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 binding on Party A. 

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

  

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

 

	 	4.2.1	 Party B is a company legally established and validly existing in accordance with the laws of PRC 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 corporate actions, obtained all necessary authorization 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 law or regulation binding on
Party B. 

  

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

  

	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 the renewal of its operation term is not approved by the 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. 

  
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	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 PRC. 

  

	 	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 China International Economic and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Beijing. The arbitration
award shall be final and binding on both 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.	 LIABILITY FOR 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. 

  

	 	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. 

  
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	8.	 Force Majeure 

 

	 	8.1	 In the case of any force majeure events (the “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 not be liable for such non-performance or partial performance. However, the affected Party shall give written notice to the other Party without any delay and
shall, within 15 days of sending such written notice, provide details of the event of Force Majeure, 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 endeavors 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. 

  

	 	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). 

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

 

	 	Party A:	 Wanleduo Network Technology (Beijing) Co., Ltd. 

	 	Address:	 Room C022, 2/F, 88 Xiangshan Road, Haidian District, Beijing 

	 	Attn:	 Luo Jian 

	 	E-mail:	 daluo@wanduoduo.com 

  

	 	Party B:	 Beijing Xingengyuan Science and Technology Co., Ltd. 

	 	Address:	 Room 1805A, 18/F, Building 5, No. 15 Hongjunying South Road, Chaoyang District, Beijing

	 	Attn:	 Luo Jian 

	 	E-mail:	 daluo@wanduoduo.com 

  

	 	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 but without the consent of Party B. 

  

	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 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. 
  

	12.	 Amendment and Supplement 

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 that relate to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement. 

  
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	13.	 Language and Counterparts 

This Agreement is written in Chinese in two (2) counterparts, each Party having one copy. 

The remainder of this page is intentionally left blank.] 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: Wanleduo Network Technology (Beijing) Co., Ltd. (Seal) 

Signature: /s/ Luo
Jian                                         
    
 Name: Luo Jian 
 Title: Legal
Reprehensive 
 Party B: Beijing Xingengyuan Science and Technology Co., Ltd. (Seal) 

Signature: /s/ Luo
Jian                                         
    
 Name: Luo Jian 
 Title: Legal
Reprehensive 

  
 9EX-10.9

 Exhibit 10.9 

POWER OF ATTORNEY 
 I, Luo
Jian, a PRC citizen with Chinese Identification Card No.: ***************, own Beijing Xingengyuan Science and Technology Co., Ltd. (“Xingengyuan “) 86.95% of equity interests as of the date hereof. With respect to all equity interests now
and in the future held by me in Xingengyuan (“My Equity Interests”), I hereby irrevocably authorize Beijing Spark Education and Technology Co., Ltd. (“WFOE”) to exercise the following rights during the term of this Power of
Attorney: 
 The WFOE is hereby authorized to act on behalf of myself as my exclusive agent and attorney with respect to all matters
concerning My Equity Interests, including without limitation to: 1) attend shareholders’ meetings of Xingengyuan; 2) exercise all the shareholder’s rights and shareholder’s voting rights I am entitled to under the laws of China and
Xingengyuan ‘Articles of Association, including but not limited to the sale or transfer or pledge or disposition of My Equity Interests in part or in whole; and 3) designate and appoint on behalf of myself the legal representative, the
directors, supervisors, the chief executive officer and other senior management members of Xingengyuan. 
 Without limiting the generality
of the powers granted hereunder, WFOE shall have the power and authority to, on behalf of myself, execute all the documents I shall sign as stipulated in the Exclusive Option Agreement entered into by and among me, the WFOE and Xingengyuan on
July 24, 2020, the Equity Pledge Agreement entered into by and among me, the WFOE and Xingengyuan July 24, 2020, and the Spouse’s Consent Letter dated July 24, 2020 (including any modification, amendment and restatement thereto,
collectively the “Transaction Documents”), and perform the terms of the Transaction Documents. 
 All the actions associated with
My Equity Interests conducted by the WFOE shall be deemed as my own actions, and all the documents related to My Equity Interests executed by the WFOE shall be deemed to be executed by me. I hereby acknowledge and ratify those actions and/or
documents by the WFOE. 
 The WFOE is entitled to re-authorize or assign its rights related to the
aforesaid matters to any other person or entity at its own discretion and without giving prior notice to me or obtaining my consent. If required by PRC laws, the WFOE shall designate a PRC citizen to exercise the aforementioned rights. 

This Power of Attorney shall be coupled with an interest and shall be irrevocable and continuously valid from the date of execution of this
Power of Attorney, so long as I am a shareholder of Xingengyuan. 
 During the term of this Power of Attorney, I hereby waive all the rights
associated with My Equity Interests which have been authorized to the WFOE through this Power of Attorney, and shall not exercise such rights by myself. 

Power of Attorney (Execution Page) 

 
			
	 Luo Jian

	
	Signature:
	 Date: July 24, 2020

 Accepted by: 
 Beijing
Spark Education and Technology Co., Ltd. (Seal) 
 Signature: /s/ Luo
Jian                                         
    
 Name: Luo Jian 
 Title: Legal
Reprehensive 
 Acknowledged by: 
 Beijing Xingengyuan Science
and Technology Co., Ltd. (Seal) 
 Signature: /s/ Luo
Jian                                         
    
 Name: Luo Jian 
 Title: Legal
Reprehensive 
 Power of Attorney (Execution Page)

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