Exhibit 10.27
Spouse Undertaking
To: Zhejiang Mengxiang Consulting Services Co., Ltd. (“Your company”)
I, Ji Hongfeng, (ID: P601734) am the spouse of Ye Hong, the shareholder of Zhejiang Lishui Mengxiang Education Development Co., Ltd. (“Lishui Mengxiang”). Ye Hong currently directly holds 5% equity of Lishui Mengxiang. Ye Hong together with your company, the other shareholders of Lishui Mengxiang, Domestic Affiliates (as defined in the Contractual Agreement) and other persons executed the Business Cooperation Agreement, the Exclusive Technical Service and Business Consulting Agreement, the Exclusive Call Option Agreement, the Equity Pledge Agreement, the Proxy Agreement for Shareholders, the Power of Attorney for Shareholders, the Proxy Agreement for School Sponsors and Directors, the Powers of Attorney for School Sponsors, the Power of Attorney for School Director, the Loan Agreement, (the above Agreements are collectively referred to as “Contractual Agreements”) on October 13, 2018; and have executed the relevant supplemental agreements or contents on November 29, 2018. In order to avoid possible disputes, I hereby irrevocably make the following undertakings and confirmations:
1. I fully understand and agree that Ye Hong sign the Contractual Agreements. Especially, I fully understand and independently and irrevocably agree to the provisions related to the restriction, pledge, transfer or other form of disposition of the direct and indirect equity interest held by Ye Hong in Lishui Mengxiang under the Contractual Agreements, including but not limited to Article III 19 to 25 of the Business Cooperation Agreement.
2. I have not been involved and will not be involved in the operation, management, liquidation and dissolution of the Domestic Affiliates in the past, present and future.
3. In order to ensure the interests of your company under the Contractual Agreements and fulfil the fundamental purpose of the execution of the Contractual Agreements, I specially authorize Ye Hong and / or her authorized person, at the request by your company, to execute all the necessary legal and non-legal documents on my behalf from time to time and perform all necessary legal and non-legal procedures with respect to the direct and indirect equity held by Ye Hong in Lishui Mengxiang. I hereby confirm and approve the relevant documents and procedures.
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