Document:

Separation Agreement

 EXHIBIT 10.1 
  
 SEPARATION AGREEMENT 
  
 This Separation Agreement (“Agreement”), dated
this 9th day of December 2002, is entered into by and between Jerrell M. Baird (“Baird”) and ProsoftTraining f/k/a ProsoftTraining.com, a Nevada Corporation (“Company”). 
  
 WHEREAS: Baird has an Employment Agreement (“Employment Agreement”) with the Company with an effective date of February 1, 2000 and a one year extension
with an effective date of February 1, 2002 and an expiration of January 31, 2003 copies of the agreement and extension are attached hereto as Exhibit “A”; and 
  
 WHEREAS: The Company and Baird wish to allow Baird to resign from the Company. 
  
 NOW THEREFORE, in consideration of the payments set forth below and the mutual promises contained herein, the parties agree as follows: 
  

	1.
	 
	Mutual Termination of Baird’s Employment Agreement. The parties hereby agree to the termination of the Employment Agreement and all future rights
and obligations arising thereunder, effective as of the signing of this Agreement by both parties, except as specifically set forth herein. 
 

  

	2.
	 
	Voluntary Resignation. The Company agrees that it is in its best interest to allow Baird to resign from the Company as an officer employee and board
member, which upon execution hereof by both parties, Baird does hereby do. The resignation is voluntary and is accepted by the Company to allow the Company to reduce its expenses. It is stipulated and agreed that the separation from the Company is
not, nor shall be deemed as, for “cause” as defined in the Employment Agreement. 
 

  

	3.
	 
	Payments to Baird. In consideration for this Agreement the Company agrees to make the following payments to Baird according to the terms specified
herein: 
 

  

	 	a.
	 
	Payment of Salary. The Company agrees to pay to Baird all wages due through November 16, 2002. 
 

  

	 	b.
	 
	Payment of Vacation. The Company agrees to pay Baird all accrued and unused vacation due through November 16, 2002 immediately upon the execution of this
Agreement. 
 

  

	 	c.
	 
	Fixed Payment. The Company agrees to pay Baird the sum of $50,000 on the earlier of (i) March 1, 2003; (ii) the occurrence of a Change of Control as
defined in Section 3 e,; (iii) the Company’s filing of a bankruptcy petition; or (iv) the cessation of operations by the Company. In the event the Company fails to make full payment of the $50,000 within five business days of its becoming due,
any unpaid portion shall bear interest at the lesser of 18% per annum, or the highest rate permitted by applicable law, until paid. 
 

  

	 	d.
	 
	Contingent Payment. The Company agrees to pay Baird the sum of $186,000 on the occurrence of a Change of Control, as defined in Section 3 e, arising as a
result of an agreement with the party that had submitted an indication of interest to acquire all or some of the assets of the Company and the Company had agreed to a now expired (on November 29th) exclusive negotiation period with said party (Party) or any related or affiliated entity provided the Change of Control occurs on or before July
31, 2003 and the Company uses its best efforts to complete a Change of Control by that date. The forgoing notwithstanding, if as a direct or indirect result of the disclosure of a proposed transaction or attempt to close a transaction with the Party
or a related or affiliated entity the Company completes another transaction that causes a Change of Control to occur then the payment contained herein will become due and payable on the closing of that transaction. The payment will become due and
payable in full on the closing of a Change of Control transaction regardless of the method or timing of payment of the
 
 

 

	 	
transaction. In the event the Company fails to make full payment of the $186,000 within five business days of its becoming due, any unpaid portion shall bear interest at the lesser of 18% per
annum or highest rate permitted by applicable law, until paid. 
 

  

	 	e.
	 
	Change of Control. For purposes of this Agreement, a “Change of Control” shall mean the occurrence of either one of the following events:

 

  

	 	(i)
	 
	any corporation, partnership, person, other entity or group (as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) (collectively, a
“Person”), acquires shares of capital stock of the Company representing more than fifty percent (50%) of the total number of shares of capital stock that may be voted for the election of directors of the Company; or 

  

	 	(ii)
	 
	a merger, consolidation or other business combination of the Company with or into another Person is consummated, or all or substantially all of the assets of
the Company are acquired by another Person, as a result of which the stockholders of the Company immediately prior to the consummation of such transaction own, immediately after consummation of such transaction, equity securities possessing less
than fifty percent (50%) of the voting power of the surviving or acquiring Person (or any Person in control of the surviving or acquiring Person), the equity securities of which are issued or transferred in such transaction. 

  

	4.
	 
	Release of Options to Purchase Common Stock of the Company. Baird voluntarily releases any interest or right he may retain with respect to any options to
purchase common stock of the Company irrespective of how they may have been acquired, or under which plan allowing the award of options the award may have been made pursuant to. This Agreement does not relate to or concern any shares of common stock
or warrants to purchase common stock Baird now owns or may hereafter acquire. 
 

  

	5.
	 
	Personal Computer Equipment. Company assigns and transfers title to Baird of the Laptop Computer, PDA, associated peripherals and software on that
equipment which Baird is currently using as an employee of the Company. The parties agree that the fair market value of that equipment is $1,637.00. 
 

  

	6.
	 
	General Release. In consideration of this Agreement, the promises herein made and other valuable consideration, except to the extent set forth in this
Agreement, the parties agree to the following releases: 
 

  

	 	a.
	 
	Baird for himself and his heirs, assigns, and personal representatives agrees and does hereby fully and completely waive and release any and all claims,
demands, rights, causes of action (whether based in contract, tort or any other theory of recovery), obligations, actions, losses or detriments of any kind whatsoever, whether known or unknown, fixed or contingent, suspected or uncertain, even
arising out of NEGLIGENCE OTHER THAN GROSS NEGLIGENCE, or grievances of any kind or character which he may have or be accrued pursuant to common law, federal law, state laws, including without limitation any and all anti-discrimination
statutes, laws and ordinances, and local laws and regulations, as against the Company, its parents and subsidiaries, as well as its officers, directors and agents. Baird realizes there are many laws and regulations prohibiting employment
discrimination pursuant to which he may have rights or claims. These include Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended; The Americans with Disabilities Act, as amended; the
National Labor Relations Act, as amended; 42 U.S. C. 1981; and the state human rights laws. Baird also understands that there are other statutes and laws of contract and tort otherwise related to his employment. Baird intends to waive and release
any rights he may have under these other laws. Said release shall be a general full and complete release and waiver and shall be applicable to any and all such claims, demands, rights, wages, benefits, employment, causes of action, or grievances,
whether claims for psychological injuries or any other injuries, which may be brought including without limitation, those before an administrative agency, a court, a tribunal, an arbitrator, or otherwise,
 
 

 
 2 

	 	
whether in law or equity, contract, or tort, and which are related, directly or indirectly, to Baird’s employment or the termination of employment with Company. 

  

	 	b.
	 
	The Company for itself and its successors, assigns, and affiliates agrees and does hereby fully and completely waive and release any and all claims, demands,
rights, causes of action (whether based in contract, tort, or any other theory of recovery), obligations, actions, losses or detriments of any kind whatsoever, whether known or unknown, fixed or contingent, suspected or uncertain, even arising out
of NEGLIGENCE OTHER THAN GROSS NEGLIGENCE, or grievances of any kind or character which it may have or be accrued pursuant to common law, federal law, state laws, including without limitation any and all anti-discrimination statutes, laws and
ordinances, and local laws and regulations, as against Baird, his heirs and assigns. This release is a general full and complete release and waiver and shall be applicable to any and all claims, demands, rights, wages, benefits, employment, causes
of action, or grievances, whether claims for psychological injuries or any other injuries, which may be brought including without limitation, those before an administrative agency, a court, a tribunal, an arbitrator, or otherwise, whether in law or
equity, contract, or tort, and, without limitation, which are related, directly or indirectly, to Baird’s employment or the termination of employment with the Company. 
 

  

	7.
	 
	Disparagement. Each party agrees not to defame or in any way disparage the other. In addition Baird agrees not to disparage any successor in interest to
the Company, its officers directors, or controlling parties. 
 

  

	8.
	 
	Agreement to Provide Assistance. Baird agrees to provide assistance to the Company regarding any transactions he may have been involved with. Such
assistance is limited to providing infrequent telephone advice and consultation. In the event that additional assistance or information is required Baird he may charge the company a reasonable hourly fee for time spent. 

  

	9.
	 
	Confidential Information. Baird acknowledges that during the term of his employment with Company, Company disclosed confidential information to Baird,
which Company deems to be valuable and proprietary. “Confidential information” as used herein shall mean any information of or about Company (or Company’s clients or customers, or the customers’ or any vendors), which has been
disclosed to Baird or made available to him, which is not publicly available and which is maintained by Company in confidence. Confidential Information shall include information of or about Company in both oral and written form, which is maintained
by Company in confidence including, but not limited to, information about Company’s finances, personnel, products, clients, or strategic plans. Baird agrees not to make public or disclose any Confidential Information, except as expressly
permitted in writing by Company, unless compelled by law, or such information becomes public by means other than the acts of Baird, in violation of this Agreement. Baird agrees that in the event of any violation or threatened violation of this
Agreement, monetary damages would provide an inadequate remedy so that Baird agrees, in addition to all other rights provided by law, that Company shall have the right to seek an injunction or equivalent remedy issued against Baird to prevent
violations or further violations of this provision. This provision shall not be binding on Baird in the event the Company publicly discloses, or this information becomes public other than by disclosure by Baird. 
 

 

	10.
	 
	Indemnification. Notwithstanding any other provision of this Agreement to the contrary withstanding, the Company agrees that (a) the Indemnity Agreement
signed by Baird on July 31, 1997 and attached as Exhibit B has been and remains in effect and is not affected in any way by this Agreement, or the release found in this Agreement; (b) Baird is and shall be entitled to all rights of indemnification
contained in the Company’s articles or certificate of incorporation, bylaws, or any other instrument relating to the subject; and (c) shall be fully indemnified to the fullest extent permitted by applicable law, in all capacities for which he
may now, or hereafter act, for the Company, whether as employee, consultant, officer or director. 
 

  

	11.
	 
	Miscellaneous. 
 

 
 3 

  

	 	a.
	 
	Baird and the Company are both advised to consult with independent attorneys prior to executing this Agreement, and the parties acknowledge that they have had
an opportunity to do so. 
 

  

	 	b.
	 
	Baird may revoke this Agreement at any time within seven (7) days following his execution of this Agreement. This Agreement shall not become effective or
enforceable until that revocation period has expired. In order to cancel or revoke this Agreement, Baird must deliver to the Vice President of Human Resources at ProsoftTraining a signed letter or other written notice stating that he is canceling or
revoking this Agreement. 
 

  

	 	c.
	 
	This Agreement constitutes the sole agreement between the parties and supersedes any and all understandings and agreements made prior hereto. There are no other
understandings, representations or agreements between the parties other than those as contained or referenced herein. The Company represents to Baird that this Agreement has been duly authorized, validly executed and delivered by all proper
corporate authority, and is the valid and binding obligation of the Company, enforceable in accordance with its terms. 
 

  

	 	d.
	 
	It is understood and agreed that the execution of this Agreement is not to be construed as an admission of any liability on the part of Company; the Company
specifically disclaims any wrongdoing of any part or any nature with respect to Baird. 
 

  

	 	e.
	 
	This Agreement and each of its provisions are binding upon, and inure to the benefit of the parties as well as their respective heirs, executors,
administrators, successors and/or assigns. 
 

  

	 	f.
	 
	All agreements and covenants contained herein are severable. In the event that any of them are held to be invalid by any competent court, this Agreement shall
be interpreted as if such invalid agreement or covenants were not contained herein. 
 

  

	 	g.
	 
	In the event that any action is filed in relation to this Agreement or to the employment relationship between the parties, the prevailing party is entitled to
recover all costs and expenses, including reasonable attorneys’ fees and expert witness fees, from the other party. 
 

  

	 	h.
	 
	This Agreement shall be construed under and governed by the state law in which Baird resides, Texas. 
 

  

	 	i.
	 
	IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written. 
 

  
 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written. 
  
 
	 Jerrell M.Baird
 	 	  	 	 “Company”
 ProsoftTraining
 
	 
	 /S/    JERRELL M. BAIRD
 
	 	  	 	 By:
 	 	 /S/    JEFFREY G.
KORN        
 

	  	 	  	 	  	 	  	 	 Jeffrey G. Korn, Director
 Chairman Compensation Committee
 
	 
	 Date:
 	 	 December 9, 2002
 	 	  	 	 Date:
 	 	 December 9, 2002
 

 

 
 4Amended Employment Agreement

 EXHIBIT 10.2 
  
 AMENDED EMPLOYMENT AGREEMENT 
  
 This Amended Employment Agreement
(“Agreement”) is made this 5th day of December 2002, between ProsoftTraining, a Nevada
corporation (the “Company”), and Robert G. Gwin (the “Employee”). 
  
 WHEREAS: 

 
 A.    The Company is engaged in the provision of information and communications technology content and
certifications. 
  
 B.    The Company and Employee desire to enter into this Amended Employment
Agreement to memorialize the terms of the designation of Employee as CEO. 
  
 C.    NOW,
THEREFORE, in consideration of the promises and mutual covenants herein set forth, the parties do hereby agree and promise as follows: 
  
 1.    Employment. The Company hereby employs Employee and Employee hereby accepts employment under the terms and conditions set forth below. The Employee’s title shall be President and Chief
Executive Officer. The duties herein will commence December 5, 2002; the contract shall conclude on July 31, 2003. 
  
 2.    Duties. 
  
 2.1    The Employee shall perform
such executive, managerial, supervisory, and development duties in connection with the business of the Company as the Board of Directors of the Company may from time to time assign consistent with Employee’s title. 
  
 2.2    Employee will report and be responsible to the Board of Directors. 
  
 2.3    Employee agrees to devote his full business time, energy and skills to such employment subject to absences and
customary vacations and for temporary illnesses. 
  
 2.4    Employee will not engage in other
gainful occupation during the term of this Agreement without prior written consent of the Company; provided, however, that nothing contained herein shall be construed to prevent the Employee from trading for his own account and benefit in stocks,
bonds, securities, real estate, commodities and other forms of investments. 
  
 3.    Term. The term of this amended Agreement shall begin on December 5, 2002 and shall continue until July 31, 2003, unless earlier terminated pursuant to the provisions hereof. 

 

  
 4.    Compensation. 
  
 4.1    Employee shall receive a base salary of $200,000 per year payable in equal installments on the Company’s
regular payroll dates (“Base Salary”), which Base Salary the Company shall continue to pay during the term of this Agreement until the Company is no longer obligated to pay the same pursuant to the provisions of Section 6 hereof.

  
 4.2    Employee shall be entitled to an award of options under the Company’s plan, which
may be in place. The Company will recommend to the Board of Directors that Employee be granted an additional 200,000 options, which shall be vested 25% immediately, an additional 25% three months following the grant date, an additional 25% six
months following the grant date, and the remaining 25% nine months following the grant date. The options shall be issued when granted by the Board; the strike price shall be the then-current common share price when awarded. 
  
 4.3    The Company shall pay Employee’s reasonable expenses in maintaining his professional standing.

  
 4.4    In addition to Employee’s Base Salary, Employee shall be entitled to receive an
incentive bonus payment of up to $100,000. The bonus shall be determined as follows: 
  
 (a)    $30,000 shall be earned by Employee upon the successful development and execution of the initial stage of the company’s restructuring plan (as determined jointly with the Board of Directors), however
in no case shall this portion of the bonus be considered earned prior to February 15, 2003, and 
  
 (b)    $70,000 shall be earned by Employee upon the Company achieving cash profitability for (i) two consecutive months or (ii) any three of the months between January 2003 and July 2003, or for (iii) the
Company’s cash balance equaling or exceeding $1 million on July 31, 2003. 
  
 5.    Termination. 
  
 5.1    The Company may
terminate this Agreement for cause by giving the Employee written notice. “Cause” shall mean gross negligence or willful misconduct in the performance of Employee’s duties hereunder, willful breach or habitual neglect of duties,
defalcation, fraud, conviction of a felony, or incarceration for not less than 30 consecutive days, all as determined by the Board of Directors. If the Employee disputes the Company’s right to terminate this Agreement for Cause, the dispute
shall be resolved in accordance with Section 11 hereof. 
  
 5.2    The Company may terminate this
Agreement if Employee is mentally or physically disabled and such disability renders him unable to perform his duties under this Agreement for 90 consecutive days in any 12-month period. During the term of this Agreement, the Company will provide a
disability insurance policy providing Employee commensurate compensation in the event of such a disability. 

 
 2 

  
 5.3    This Agreement may be terminated voluntarily by the
Employee by providing the Company with written notice specifying the date of such termination not less than 90 days prior to the effective date of termination. 
  
 5.4    The Company may terminate this Agreement without Cause by providing Employee with written notice specifying the date of such termination not less than 90 days prior to the
effective date of termination. 
  
 6.    Effect of Termination. 
  
 6.1    If Employee’s employment hereunder is terminated pursuant to Section 5.2 or without Cause pursuant to
Section 5.4, the Company shall (i) pay to Employee $250,000 (less any disability benefits actually received under the policy provided for in Section 5.2 if such termination is as a result of Section 5.2), plus the value of any accrued and unused
vacation and (ii) provide acceleration and immediate vesting of all of Employee’s stock options from the Company which have not yet vested at that time, and such accelerated options as well as any other options which have vested and are then
exercisable shall be exercisable for a period of three (3) months following the date of termination and shall then expire and be of no further force or effect. The Company shall also pay to Employee any bonus earned under the terms of Section 4.4.
The Company shall thereafter have no further obligations under this Agreement. 
  
 6.2    If
Employee’s employment hereunder is terminated pursuant to Section 5.1, the Company shall pay to Employee the Base Salary through the date of such termination, plus the value of any accrued and unused vacation, The Company shall also pay to
Employee any bonus earned under the terms of Section 4.4. The Company shall thereafter have no further obligations under this Agreement. 
  
 6.3    If Employee’s employment hereunder is terminated pursuant to Section 5.3, the Company shall pay to Employee the Base Salary through the date of such termination, plus the value of any accrued
and unused vacation. In addition, if the Employee uses his best reasonable efforts to assist the Board of Directors in effecting a successful transition to his successor (including but not limited to remaining with the Company through the completion
of the 90 day notice period only if necessary to effect the transition), the Company shall pay to Employee $50,000. The Company shall also pay to Employee any bonus earned under the terms of Section 4.4. The Company shall thereafter have no further
obligations under this Agreement. 
  
 6.4    If Employee’s employment is terminated as a
result of the expiration of the term of this Agreement, then the Company shall pay to Employee the Base Salary through the expiration date, plus the value of any accrued and unused vacation. In addition, if the Employee uses his best reasonable
efforts to assist the Board of Directors in effecting a successful transition to his successor (either prior to or following the expiration of the term of this Agreement), the Company shall pay to Employee $50,000. The Company shall also pay to
Employee any bonus earned under the terms of Section 4.4. The Company shall thereafter have no further obligations under this Agreement. 

 
 3 

  
 7.    Change of Control. 
  
 7.1    For purposes of this Agreement, a “Change of Control” shall mean the occurrence of any one of the
following events: 
  
 (i)    any corporation, partnership, person, other entity or group (as
defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) (collectively, a “Person”), acquires shares of capital stock of the Company representing more than fifty percent (50%) of the total number of shares of capital
stock that may be voted for the election of directors of the Company; or 
  
 (ii)    a merger,
consolidation or other business combination of the Company with or into another Person is consummated, as a result of which the stockholders of the Company immediately prior to the consummation of such transaction own, immediately after consummation
of such transaction, equity securities possessing less than fifty percent (50%) of the voting power of the surviving or acquiring Person (or any Person in control of the surviving or acquiring Person), the equity securities of which are issued or
transferred in such transaction; or 
  
 (iii)    all or substantially all of the assets of the
Company are acquired by another Person. 
  
 7.2    Upon the occurrence of a Change of Control
during the term of this Agreement, all options held by Employee shall immediately vest, and such accelerated options as well as any other options which have vested and which are then exercisable shall remain exercisable until expiration or earlier
termination pursuant to the terms of the respective original option agreements. 
  
 7.3    If
upon the completion of a Change of Control Employee is not the President and Chief Executive Officer of the ultimate parent organization of which the Company is then a part, then the Company shall immediately make a payment to Employee equal to
$300,000. The Company shall also pay to Employee any bonus earned under the terms of Section 4.5. The Company shall thereafter have no further obligations under this Agreement. 
  
 7.4    Withholding Taxes and Other Deductions. To the extent required by law, the Company shall withhold from any payments due Employee under
this Agreement any applicable Federal, state or local taxes and such other deductions as are prescribed by law or Company policy. 
  
 8.    Proprietary Information. 
  
 8.1    Employee
understands that the Company possesses and will continue to possess information that has been created, discovered, developed or otherwise become known to the Company (including, without limitation, information created, discovered, developed or made
known by Employee during the period of or arising out of his employment by the Company, whether prior to or after the date hereof) or in which property rights have been assigned or otherwise conveyed to the Company, which
 

 
 4 

 
information has commercial value in the business in which the Company is engaged. All such information is hereinafter called “Proprietary Information.” By way of illustration, but not
limitation, Proprietary Information includes processes, formulas, codes, data, programs, know-how, improvements, discoveries, developments, designs, inventions, techniques, marketing plans, strategies, forecasts, new products, unpublished financial
statements, budgets, projections, licenses, prices, costs, contracts and customer and supplier lists. 
  
 8.2    In consideration of the compensation received by the Employee from the Company and the covenants contained in this Agreement, Employee agrees as follows: 
  
 8.2.1    All Proprietary Information shall be the sole property of the Company and its assigns, and the Company and
its assigns shall be the sole owner of all patents, copyrights, and other rights in connection therewith. Employee hereby assigns to the Company rights he may have or acquire in such Proprietary Information. At all times, both during his employment
by the Company and after its termination, Employee will keep in strictest confidence and trust all Proprietary Information and will not use or disclose any Proprietary Information without the written consent of the Company, except as may be
necessary in the ordinary course of performing his duties under this Agreement. 
  
 8.2.2    All
documents, records, equipment and other physical property, whether or not pertaining to Proprietary Information, furnished to Employee by the Company or produced by Employee or others in connection with Employee’s employment with the Company
shall be and remain the sole property of the Company. In the event of the termination of his employment by him or the Company for any reason, Employee will deliver to the Company all documents, notes, drawings, specifications, programs, data,
customer lists and other materials of any nature pertaining to his work with the Company and Employee will not take with him or use any of the foregoing, any reproduction of any of the foregoing, or any Proprietary Information that is embodied in a
tangible medium of expression. 
  
 8.2.3    Employee recognizes that the Company is engaged in a
continuous program of development and marketing respecting its present and future business. Employee understands that as part of his employment by the Company he has been and is expected to make new contributions of value to the Company and that his
employment has created a relationship of confidence and trust between him and the Company with respect to certain information applicable to the business of the Company or applicable to the business of any customer of the Company, which has been or
may be made known to Employee by the Company or by any customer of the Company or which may have been or may be learned by Employee during the period of his employment by the Company. 
  
 9.    Covenant Not to Compete. 
  
 9.1    In consideration for the payments to be made under this Agreement, Employee shall, for the greater of (a) a period of one year or (b) such period
 

 
 5 

 
as Employee may be employed by the Company, refrain from, either alone or in conjunction with any other person, or directly or indirectly through its present or future affiliates: 

 
 (i)    employing, engaging or seeking to employ or engage any person who within the prior twenty-four (24)
months had been an officer or employee of the Company, unless in an venture not in direct competition with the Company; 
  
 (ii)    causing or attempting to cause (A) any client, customer or supplier of the Company to terminate or materially reduce its business with the Company, or (B) any officer, employee or consultant of the Company
to resign or sever a relationship with the Company; 
  
 (iii)    disclosing (unless compelled by
judicial or administrative process) or using any confidential or secret information relating to the Company or any of their respective clients, customers or suppliers; or 
  
 (iv)    participating or engaging in (other than through the ownership of five percent (5%) or less of any class of securities registered under the
Securities Exchange Act of 1934, as amended), or otherwise lending assistance (financial or otherwise) to any person participating or engaged in, any of the lines of business in which the Company is participating or engaged on the date of
termination in any jurisdiction in which the Company participates or engages in such line of business on the date of termination. 
  
 Notwithstanding the foregoing, the restrictive covenants set forth in this Section 9 shall terminate immediately upon a termination of this Agreement by the Company without Cause. 
  

9.2    The parties hereto recognize that the laws and public policies of the various states of the United States may differ as to the validity and
enforceability of covenants similar to those set forth in this Section. It is the intention of the parties that the provisions of this Section be enforced to the fullest extent permissible under the laws and policies of each jurisdiction in which
enforcement may be sought, and that the unenforceability (or the modification to conform to such laws or policies) of any provisions of this Section shall not render unenforceable, or impair, the remainder of the provisions of this Section.
Accordingly, if any provision of this Section shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall be deemed to apply only with respect to the operation of such provision in the particular jurisdiction in
which such determination is made and not with respect to any other provision or jurisdiction. 
  
 9.3    The parties hereto acknowledge and agree that any remedy at law for any breach of the provisions of this Section would be inadequate, and Employee hereby consents to the granting by any court of an
injunction or other equitable relief, without the necessity of actual monetary loss being proved, in order that the breach or threatened breach of such provisions may be effectively restrained. 

 
 6 

  
 9.4    The Company and the Employee acknowledge that the
foregoing restrictive covenants in this Section 9 are essential elements of this Agreement and that, but for the agreement of the Employee to comply with those covenants, the Company would not have agreed to enter into this Agreement. The covenants
by the Employee shall be construed as agreements independent of any other provision in this Agreement. 
  
 9.5    The Company and the Employee intend that the covenants contained in this Section 9 shall be construed as a series of separate covenants, one for each county of the State of Texas and one for each State of
the United States other than Texas. 
  
 9.6    The Company and the Employee understand and agree
that, if any portion of the restrictive covenants set forth in this Section 9 is held to be unreasonable, arbitrary, or against public policy, then that portion of those covenants shall be considered divisible as to time and geographical area. The
Company and the Employee agree that, if any court of competent jurisdiction determines that the specified time period or the specified geographical area of application in any covenant is unreasonable, arbitrary, or against public policy, then a
lesser time period, geographical area, or both, that is determined to be reasonable, nonarbitrary, and not against public policy may be enforced against Employee. The Company and the Employee agree and acknowledge that they are familiar with the
present and proposed operations of the Company and believe that the restrictive covenants set forth in this Section 9 are reasonable with respect to their subject matter, duration, and geographical application. 
  
 9.7    The parties acknowledge that the status of the Employee in this business and industry is unique and the success
of the Company in said business is materially and substantially dependent upon the continued employment of the Employee, and in the event the employment of the Employee is terminated for any reason, such business of the Company will be substantially
and irrevocably damaged. In view thereof, the parties acknowledge that monetary damages alone will not fully compensate the Company in the event the Employee fails or refuses to comply with the terms of this Section 9 above when applicable, and
agree that the Company, in addition to all other remedies provided in law and in equity, shall have the remedy of injunctive relief and specific performance to enforce the terms of said Section. 
  

10.    Arbitration. Except as otherwise provide herein, any controversies or claims arising out of, or relating to this Agreement or the
breach thereof, shall be settled by arbitration in Austin, Texas in accordance with the rules of, but not subject to the jurisdiction of, the American Arbitration Association, which decision shall be final and binding on the parties, and judgment
upon the award rendered may be entered in any court having jurisdiction thereof. For these purposes the arbitrator shall be an individual who has demonstrated that such individual is familiar with and has experience in the legal issues involving
employer-employee relationships and has had no prior prejudicial contacts with either party. In addition to all other remedies provided in law or in equity, the arbitrator is hereby authorized to assess costs and attorneys’ fees against either
party if the arbitrator finds, based on all the facts and circumstances, that the conduct of or the claims made by such party were unreasonable or substantially without merit. 

 
 7 

  
 11.    Notice. All notices, requests and other
communications hereunder must be in writing and will be deemed to have been duly given only if delivered personally or by facsimile transmission or mailed (first class postage prepaid) to the parties at the following addresses or facsimile numbers:

  
 
	 If to Employee:
 	  	 Robert G. Gwin
 1900 Stamford Avenue
 Austin, Texas 78703
 Telephone: (512) 481-8693
 
	 
	 If to the Company:
 	  	 ProsoftTraining
 3001 Bee Caves Road, Suite 300
 Austin, TX 78746
 Facsimile No: (512) 328-5239
 Attn:
General Counsel
 

 
  
 All such notices, requests and other communications will (i) if delivered personally to
the address as provided in this Section, be deemed given upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided in this Section, be deemed given upon receipt, and (iii) if delivered by mail in the manner
described above to the address as provided in this Section, be deemed given upon receipt (in each case regardless of whether such notice, request or other communication is received by any other person to whom a copy of such notice, request or other
communication is to be delivered pursuant to this Section). Any party from time to time may change its address, facsimile number or other information for the purpose of notices to that party by giving notice specifying such change to the other party
hereto. 
  
 12.    Invalid Provision. The invalidity or unenforceability of any particular
provision of this Agreement in any jurisdiction shall not affect the other provisions hereof or the validity of that particular provision in any other jurisdiction, and the Agreement shall be construed in all respects as though such invalid or
unenforceable provisions were omitted only in the jurisdiction in which the case is held to be invalid or unenforceable. 
  
 13.    Interpretation. This Agreement shall be interpreted in accordance with the laws of the State of Texas. 
  
 14.    Successors. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors, assigns, heirs, and legal
representatives, including any person, firm, corporation or other business entity which at any time, by merger, purchase or otherwise, acquires substantially all of the assets or business of the Company. The duties and covenants of Employee under
this Agreement, being personal, may not be delegated. 
  
 15.    Entire Agreement;
Modification. This Agreement replaces in its entirety the Existing Employment Agreement, which agreement shall be of no further force and effect. This Agreement constitutes the entire agreement between the parties, and may be changed only by an
agreement in writing signed by the parties. 

 
 8 

  
 16.    Headings. Sections and other headings contained
in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
  
 17.    Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.
Signatures may be exchanged by telecopy, with original signatures to follow. Each of the parties hereto agrees that it will be bound by its own telecopied signature and that it accepts the telecopied signatures of the other parties to this
Agreement. The original signature pages shall be forwarded to the Company or its counsel and the Company or its counsel will provide all of the parties hereto with a copy of the entire Agreement. 
  

IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized officer of each party hereto as of the date first above written.

  
 
	 “COMPANY”
  
 ProsoftTraining, a Nevada corporation
 
	 
	 By:
 	 	 /S/    JEFFREY G. KORN
 

	 Name: Jeffrey G. Korn
 Title: Director
 
	 
	 “EMPLOYEE”
 
	 
	 /S/    ROBERT G. GWIN
 

	 Robert G. Gwin
 

 

 
 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00045-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00045-of-00352.parquet"}]]