Document:

Purchase Order dated April 26, 2004

 Exhibit 10.4 
  
 Confidential portions of this document have been 
 redacted and filed separately with the Commission 
  
 [LOGO] 
  
 PURCHASE
ORDER 
  

					
	 AXESSTEL INCORPORATED
 6305 Lusk Blvd.
 San Diego
 92121
  
 Kind Attn: David Kim
	  	 PO NO
 PO Date
 Contract/Inquiry No
 Contract/Inquiry Date
 Quotation No
 Quotation Date
 Our Contact Person
 Delivery Date
	  	 : 7700000100
 : 04/26/2004
 :
 :
 :
 :
 :
 : 05/26/2004
 As per schedule attached

	 Vendor Code: 800060

	
	 Subject:
 Supply of FWP AXW-[***]
 Your REF: Dated: 04/21/2004
 We are pleased to place an order on you as per
the details and Terms & Conditions given below.

  

									
	 SRNO
 ITEM CODE/DESCRIPTION

SERVICE NO:

	  	QTY

	 	RATE
In USD

	 	UOM

	 	AMOUNT
In USD

					
	 0010
	  	[***]	 	[***]	 	EA	 	[***]
	 700002168 FWP AXW-[***]
	  	05/26/2004	 	 	 	 	 	 
	 Total Gross Amount:
	  	 	 	 	 	[***]	 	 
	 Total Net Amount:
	  	 	 	 	 	[***]	 	 
	
	 DOLLARS [***]

  

 PAGE NO: 1 of 2 

 Confidential portions of this document have been 
 redacted and filed separately with the Commission 
  
 Exhibit 10.4 
  
 [LOGO] 
  
 PO NO: 7700000100 
  

			
	TERMS AND CONDITIONS	 	 
	 Terms of delivery:
 [***]
  
 Terms Of Payment:
  
 Through Irrevocable Documentary Letter of Credit established
 through Indian Banks with a buyer usance period of 36 months.
  
 Delivery:
  
 Bill To: TATA Teleservices
(Maharashtra) Ltd., Ispat House, B.G.
 Khar Marg, Worli, Mumbai-400 018, INDIA.
 Ship To: The Cotton Corporation of India Ltd., Compartment
 No.4, Godown No.2, Plot No.S6, Kaiamboli, Sector, KWC,

Raigad Dist.-410218
	 	 
	
	PLEASE QUOTE THIS ORDER NUMBER 7700000100 AND YOUR VENDOR CODE 800060 WITH US IN ALL YOUR CORRESPONDENCE AND INVOICE.
		
	 Total Order Value:
 [***]
 Please confirm acceptance of this Purchase Order within 7 days from the P.O. Date, failing which the same shall be deemed as accepted by you
	 	 For TATA TELESERVICES
 (MAHARASHTRA) LIMITED
  
 /s/ [Illegible]
  
 Authorized Signatory

		
	I/We confirm having receive this Purchase Order and accept the same with all the terms and conditions.	 	 For AXESSTEL INCORPORATED
  
 Authorized Signatory

  

 PAGE NO: 2 of 2 

 Confidential portions of this document have been 
 redacted and filed separately with the Commission 
  
 PO# 7700000100 
  
 TERMS AND CONDITIONS 
  

	1.	Scope of Work: 

  
 Supply of [***] nos of FWP Model No. AXW-[***]. 
 Any new models to be introduced by Axesstel will be included as part of this proposed order quantity. However, prices for the new models will be negotiated as and when they are offered. 
  

	2.	Exclusivity: 

  
 Axesstel will provide exclusivity for all its CDMA 1X products for use in India to Tata Teleservices (Maharashtra) Ltd. (“TTML”) during the
tenure of this PO/Contract. 
  
 [***] 
  

	3.	Price [***]: 

 [***] 
  
 [***] 
  
 If any taxes on income are required by law to be deducted from any payment required to be made by TTML hereunder, the amount
of such payment shall be deducted as per Government Of India regulations and relevant TDS certificates will be issued and payment shall be made to Axesstel net of such amount. 
  

	4.	Delivery Schedule 

  

	 	•	TTML — June [***] units, July [***] units. 

  

	 	•	Axesstel shall intimate to both TTSL & TTML the dispatch dates within 7 days of receipt of the order. 

  

	 	•	Quantities for Aug & Sept ‘04 for both TTSL & TTML shall be indicated after receipt of 1st consignment. 

  
 In case of delay in dispatch for reasons attributable to Axesstel, Axesstel shall [***] on the delayed shipment. 
  

	5.	Payment Terms: Payment will be through irrevocable and confirmed Letters of Credit established through Indian banks with a buyer usance period of 36 months. Interest for the
usance periods will be [***]. The Letters of Credit will be confirmed by Axesstel [***]. 

  
 Within 7 days of receipt of this PO Axesstel shall indicate the name & other details of their Bankers, port of dispatch, specific terms &
conditions that need to be put on the LC. 
  
 TTML shall open LCs
on Axesstel on consignment basis as per the schedule of dispatch. 
  
 The following documents shall be submitted along with the invoices for drawing payment due on Delivery of FWP. 
  
 I) Packing List 
 II) Airway Bill 

III) Certificate of Origin 
 IV)
Manufacturer’s Test Report/Factory Acceptance Test Report as per agreed quality acceptance plan 

 Confidential portions of this document have been 
 redacted and filed separately with the Commission 
  
 PO# 7700000100 
  

	6.	Warranty period: 

  
 Main Unit: [***] from the date of shipment subject to a minimum of [***] from date of activation. 
 Battery: [***] from date of manufacturing. 
  
 During Warranty Axesstel shall provide all after sales service for the Fixed wireless phone to customers of TTML as per agreed conditions &
timeliness. 
  
 In line with the TTML roadmap any support
required in form of software upgrades etc. shall be provided by Axesstel [***]. 
  

	7.	After Sales Service: 

  
 Both during warranty & post warranty, Axesstel shall directly or through third part provide after sales services as part of TTML/TTSL’s after
sales service norms/agreement. 
  

	8.	Exit clauses: 

  
 In the event the material supplied by Axesstel is not acceptable in our network or due to obsolescence of technology or product or due to breach of any of
the contractual terms by Axesstel, TTSL reserves the right to terminate the contract forthwith and no consequential damages what so ever shall be payable to Axesstel by TTL. In the event of such termination all open POs with Axesstel will
automatically stand cancelled. 
  

	9.	Assignments: 

  
 TTML shall have the right to assign the contract in part or full in favor of any third party. 
  

	10.	Packaging & Brand development: Both Materials and packaging boxes shall be branded as per requirements of Tata Teleservices Ltd. at no additional cost.Form of Common Stock Certificate

 Exhibit 4.1 
  

					
	COMMON STOCK	  	 	  	COMMON STOCK
	 AIC
	  	Aames	  	 
	INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND	  	 	  	 SEE REVERSE FOR CERTAIN DEFINITIONS AND RESTRICTIONS
  
 CUSIP   00252M   10   6

  
 THIS CERTIFIES THAT 

 
 is the registered holder of: 
  
 FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE $0.01 PER
SHARE OF 
  
 Aames Investment Corporation 
  
 transferable on the books of the Corporation by the holder hereof in person or by duly
authorized attorney upon the surrender of this certificate properly endorsed. This certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. 
  
 WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. 
  

									
	 Dated:
	 	 	  	 	 	 
					
	 	 	/s/ JOHN F. MADDEN, JR.	  	    [SEAL]    	 	 	 	/s/ A. JAY MEYERSON
	 	 	SECRETARY	  	 	 	 	 	PRESIDENT AND CHIEF EXECUTIVE OFFICER

  

	
	 COUNTERSIGNED AND REGISTERED
 MELLON INVESTOR SERVICES LLC
 TRANSFER AGENT AND REGISTRAR

	
	  
	AUTHORIZED SIGNATURE

  

 Aames Investment Corporation 
  
 The Corporation will furnish without charge to each stockholder who so requests the powers, designations, preferences and relative,
participating, optional, or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. Such requests shall be made to the Corporation’s Secretary at the
principal office of the Corporation. 
  

  
 The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they
were written out in full according to applicable laws or regulations: 
  

											
	 TEN COM-
	  	as tenants in common	 	UNIF GIFT MIN ACT-	 	 	 	Custodian	 	 
	 TEN ENT-
	  	as tenants by the entireties	 	 	 	(Cust)	 	 	 	(Minor)
	 JT TEN-
	  	as joint tenants with	 	 	 	under Uniform Gifts to Minors
	 	  	right of survivorship and	 	 	 	Act _______________________________________
	 	  	not as tenants in common	 	 	 	(State)
	 	  	 	 	UNIF TRF MIN ACT-	 	 	 	Custodian	 	(until age ___________)
	 	  	 	 	 	 	(Cust)	 	 	 	 
	 	  	 	 	 	 	 	 	under Uniform Transfers
	 	  	 	 	 	 	(Minor)	 	 
	 	  	 	 	 	 	to Minors Act	 	 
	 	  	 	 	 	 	 	 	(State)
	 	  	 	 	 	 	 	 	 	 	 

  
 Additional
abbreviations may also be used though not in the above list. 
  
 FOR VALUE RECEIVED, ______________________________________________ hereby sell, assign and transfer(s) unto _________________________________________________________________________________________________________ 
  

					
	 PLEASE INSERT SOCIAL SECURITY OR
 OTHER IDENTIFYING NUMBER OF ASSIGNEE
	 	 	 	 
			
	 	 	 	 	 

  
  

 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE OF ASSIGNEE) 
  
  

  
  

 Shares of the Common Stock represented by
the within Certificate, and do(es) hereby irrevocably constitute and appoint 
  
  

 Attorney to transfer the said stock on the books of the within named Corporation with full power of substitution in the
premises. 
  

									
	 	 	 	 	 
					
	Dated	 	 	 	 	 	X	 	 
					
	 	 	 	 	 	 	 X
	 	 
	 	 	 	 	 	 	 	 	NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(s) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATEVER.

  
 SIGNATURE(S) GUARANTEED: 
  

			
		
	By	 	 
	 	 	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION, (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.EXHIBIT 10.12

 Exhibit 10.12 
  
  
 INDEMNIFICATION AGREEMENT 
  
 AGREEMENT, effective as of September     , 2004, between Educate,
Inc., a Delaware corporation (the “Company”), and                              (the
“Indemnitee”). 
  
 WHEREAS, it is essential to the Company to
retain and attract as directors and officers the most capable persons available; 
  
 WHEREAS, Indemnitee is a director or officer of the Company; 
  
 WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of public companies in today’s environment; 
  
 WHEREAS, basic protection against undue risk of personal liability of directors and
officers heretofore has been provided through insurance coverage providing reasonable protection at reasonable cost, and Indemnitee has relied on the availability of such coverage; but as a result of substantial changes in the marketplace for such
insurance it has become increasingly more difficult to obtain such insurance on terms providing reasonable protection at reasonable cost; 
  
 WHEREAS, the By-Laws of the Company require the Company to indemnify and advance expenses to its directors and officers to the full extent permitted by law and the
Indemnitee has been serving and continues to serve as a director or officer of the Company in part in reliance on such By-Laws; 
  
 WHEREAS, in recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s continued service to
the Company in an effective manner, the increasing difficulty in obtaining satisfactory director and officer liability insurance coverage, and Indemnitee’s reliance on the aforesaid By-Laws, and in part to provide Indemnitee with specific
contractual assurance that the protection promised by such By-Laws will be available to Indemnitee (regardless of, among other things, any amendment to or revocation of such By-Laws or any change in the composition of the Company’s Board of
Directors or acquisition transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent (whether partial or complete) permitted by
law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies; 
  
 NOW, THEREFORE, in consideration of the premises and of Indemnitee continuing to serve
the Company directly or, at its request, another enterprise, and intending to be legally bound hereby, the parties hereto agree as follows: 
  

	 	1.	Certain Definitions: 

  
 (a)    Affiliate: as to any person, any other person, directly or indirectly, controlling or controlled by or under direct or indirect
common control with such specified person. For the purposes of this definition, “control” when used with respect to any person means the power to direct the management and policies of such person, directly or indirectly, whether through
the ownership of voting Securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

 (b)    Change of Control: the occurrence of any of the following events: 
  
 (i)    any “person” (as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than one or more Permitted Holders, is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act,
except that for purposes of this clause (i) such person shall be deemed to have beneficial ownership of all shares that such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly
or indirectly, of more than 35% of the total voting power of the then outstanding Voting Securities of the Company; provided, however, that no Change of Control shall be deemed to have occurred under this paragraph (i) if the Permitted
Holders either (a) beneficially own (as defined above), directly or indirectly, (x) in the aggregate more than 40% of the total voting power of the then outstanding Voting Securities of the Company and (y) a greater percentage of the total voting
power of the then outstanding Voting Securities of the Company than any other person or (b) have the right or ability by voting power, contract or otherwise to elect or designate for election a majority of the Company’s Board of Directors;

  
 (ii)    during any period of two consecutive
years, individuals who at the beginning of such period constituted the Board of Directors of the Company (together with any new members of the Board of Directors whose election by such Board of Directors or whose nomination for election by the
equityholders of the Company was approved by a vote of the majority of the members of the Board of Directors of the Company then still in office who were either members of the Board of Directors at the beginning of such period or whose election or
nomination for election was previously so approved including new members of the Board of Directors designated in or provided for in an agreement regarding the merger, consolidation or sale, transfer or other conveyance, of all or substantially all
of the assets of the Company, if such agreement was approved by a vote of such majority of members of the Board of Directors) cease for any reason to constitute a majority of the Board of Directors then in office; 
  
 (iii)    the adoption by the holders of Capital Stock of the
Company of any plan or proposal for the liquidation or dissolution of the Company by way of merger, consolidation or otherwise; or 
  
 (iv)    the merger or consolidation of the Company with or into another Person or the merger of another Person with or into the Company, or the
sale of all or substantially all the assets of the Company and its subsidiaries, taken as a whole, to another Person (other than to a subsidiary of the Company or to one or more Permitted Holders or any entity controlled by one or more Permitted
Holders), in which, in the case of any such merger, consolidation or sale, the securities of the Company that are outstanding immediately prior to such transaction and that represent 100% of the aggregate Voting Securities of the Company are changed
into or exchanged for cash, securities or property; provided, however, that no Change of Control shall be deemed to have occurred under this paragraph (iv) if pursuant to such transaction the securities of the Company are changed into
or exchanged for, in addition to any other consideration, securities of the surviving Person that represent immediately after such transaction, (a) at least 30% of the aggregate voting power of the Voting Securities of the surviving Person and (b) a
greater percentage of the Voting Securities of the surviving Person than the percentage of such Voting Securities beneficially owned by any other person (as defined in paragraph (i) above). 
  

 2 

 (c)    Claim: any threatened, pending or completed action, suit or proceeding, or any
inquiry or investigation, whether instituted by the Company or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative or
other. 
  
 (d)    Expenses: include
attorneys’ fees and all other costs, expenses and obligations paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness in or participate in,
any Claim relating to any Indemnifiable Event. 
  
 (e)    Indemnifiable Event: any event or occurrence related to the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company, or is or was serving at the request of the
Company as a director, officer, employee, trustee, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise, or by reason of anything done or not done by Indemnitee in any such capacity.

  
 (f)    Independent Legal Counsel: an
attorney or firm of attorneys, selected in accordance with the provisions of Section 3, who shall not have otherwise performed services for the Company or Indemnitee within the last five years (other than with respect to matters concerning the
rights of Indemnitee under this Agreement, or of other indemnitees under similar indemnity agreements). 
  
 (g)    Permitted Holders: Apollo Sylvan, LLC, Apollo Sylvan II, LLC and their respective Affiliates. 
  
 (h)    Potential Change in Control: shall be deemed to have
occurred if (i) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; (ii) any person (including the Company) publicly announces an intention to take or to consider taking actions
which if consummated would constitute a Change in Control; or (iii) the Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in Control has occurred. 
  
 (i)    Reviewing Party: any appropriate person or body
consisting of a member or members of the Company’s Board of Directors or any other person or body appointed by the Board who is not a party to the particular Claim for which Indemnitee is seeking indemnification, or Independent Legal Counsel.

  
 (j)    Voting Securities: any securities of
the Company, the holders of which vote generally in the election of directors. 
  
 2.    Basic Indemnification Arrangement. In the event Indemnitee was, is or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, a Claim
by reason of (or arising in part out of) an Indemnifiable Event, the Company shall indemnify Indemnitee to the fullest extent permitted by law as soon as practicable but in any event no later than thirty days after written demand is presented to the
Company, against any and all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties
or amounts paid in settlement) of such Claim. If so requested by Indemnitee, the Company shall advance to the fullest extent permitted by law (within two business days of such request) any and all Expenses to Indemnitee (an “Expense
Advance”). Notwithstanding anything in this Agreement to the contrary, prior to a 
  

 3 

 
Change in Control Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Claim initiated by Indemnitee unless the Board
of Directors has authorized or consented to the initiation of such Claim. 
  
 (b) Notwithstanding the foregoing, (i) the obligations of the Company under Section 2(a) shall be subject to the condition that the Reviewing Party shall not have determined (in a written opinion, in any case in which the Independent Legal
Counsel referred to in Section 2 hereof is involved) that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) the obligation of the Company to make an Expense Advance pursuant to Section 2(a) shall be subject to the
condition that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to
reimburse the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be
indemnified under applicable law, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any
Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). If there has not been a Change in Control, the Reviewing Party shall be selected by the
Board of Directors, and if there has been such a Change in Control (other than a Change in Control which has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control), the
Reviewing Party shall be the Independent Legal Counsel referred to in Section 2 hereof. If there has been no determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be
indemnified in whole or in part under applicable law, Indemnitee shall have the right to commence litigation in any court in the State of Delaware having subject matter jurisdiction thereof and in which venue is proper seeking an initial
determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby consents to service of process and to appear in any such proceeding.
Any determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and Indemnitee. 
  
 3.    Change in Control. The Company agrees that if there is a Change in Control of the Company (other than a Change in Control which has
been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control) then with respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity payments and
Expense Advances under this Agreement or any other agreement or Company By-Law now or hereafter in effect relating to Claims for Indemnifiable Events, the Company shall seek legal advice only from Independent Legal Counsel selected by Indemnitee and
approved by the Company (which approval shall not be unreasonably withheld). Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent the Indemnitee would be permitted to be
indemnified under applicable law. The Company agrees to pay the reasonable fees of the Independent Legal Counsel referred to above and to indemnify fully such counsel against any and all expenses (including attorneys’ fees), claims, liabilities
and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
  
 4.    Establishment of Trust. In the event of a Potential Change in Control, the Company shall, upon written request by Indemnitee, create a trust for the benefit of Indemnitee and from time to time
upon written request of Indemnitee shall fund such trust in an amount 
  

 4 

 
sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for and
defending any Claim relating to an Indemnifiable Event, and any and all judgments, fines, penalties and settlement amounts of any and all Claims relating to an Indemnifiable Event from time to time actually paid or claimed, reasonably anticipated or
proposed to be paid, provided that in no event shall more than $                 be required to be deposited in any trust created hereunder in excess of amounts
deposited in respect of reasonably anticipated Expenses. The amount or amounts to be deposited in the trust pursuant to the foregoing funding obligation shall be determined by the Reviewing Party, in any case in which the Independent Legal Counsel
referred to above is involved. The terms of the trust shall provide that upon a Change in Control (i) the trust shall not be revoked or the principal thereof invaded, without the written consent of the Indemnitee, (ii) the trustee shall advance,
within two business days of a request by the Indemnitee, any and all Expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse the trust under the circumstances under which the Indemnitee would be required to reimburse the Company
under Section 2(b) of this Agreement), (iii) the trust shall continue to be funded by the Company in accordance with the funding obligation set forth above, (iv) the trustee shall promptly pay to Indemnitee all amounts for which Indemnitee shall be
entitled to indemnification pursuant to this Agreement or otherwise, and (v) all unexpended funds in such trust shall revert to the Company upon a final determination by the Reviewing Party or a court of competent jurisdiction, as the case may be,
that Indemnitee has been fully indemnified under the terms of this Agreement. The trustee shall be chosen by Indemnitee. Nothing in this Section 4 shall relieve the Company of any of its obligations under this Agreement. 
  
 5.    Indemnification for Additional Expenses. The Company
shall indemnify Indemnitee against any and all expenses (including attorneys’ fees) and, if requested by Indemnitee, shall (within two business days of such request) advance such expenses to Indemnitee, which are incurred by Indemnitee in
connection with any action brought by Indemnitee for (i) indemnification or advance payment of Expenses by the Company under this Agreement or any other agreement or Company By-Law now or hereafter in effect relating to Claims for Indemnifiable
Events and/or (ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense
payment or insurance recovery, as the case may be. 
  
 6.    Partial Indemnity, Etc. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines, penalties and amounts paid
in settlement of a Claim but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. Moreover, notwithstanding any other provision of this
Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, including dismissal without
prejudice, Indemnitee shall be indemnified against all Expenses incurred in connection therewith. 
  
 7.    Burden of Proof. In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to
be indemnified hereunder the burden of proof shall be on the Company to establish that Indemnitee is not so entitled. 
  
 8.    No Presumptions. For purposes of this Agreement, the termination or conclusion of any claim, action, suit or proceeding, by
judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create 
  

 5 

 a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has
determined that indemnification is not permitted by applicable law. In addition, neither the failure of the Reviewing Party to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular
belief, nor an actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings by Indemnitee to secure a judicial determination that
Indemnitee should be indemnified under applicable law shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular standard of conduct or did not have any particular belief. 
  
 9.    Nonexclusivity, Etc. The rights of the Indemnitee
hereunder shall be in addition to any other rights Indemnitee may have under the Company’s By-Laws or the Delaware General Corporation Law or otherwise. To the extent that a change in the Delaware General Corporation Law (whether by statute or
judicial decision) permits greater indemnification by agreement than would be afforded currently under the Company’s By-Laws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by such change. 
  
 10.    Liability Insurance. To the extent the Company maintains an insurance policy or policies providing directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or
policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer. 
  
 11.    Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company
against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be
extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period
shall govern. 
  
 12.    Amendments, Etc. No
supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
  
 13.    Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of
the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to
enforce such rights. 
  
 14.    No Duplication of
Payments. The Company shall not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, By-Law or
otherwise) of the amounts otherwise indemnifiable hereunder. 
  
 15.    Binding Effect, Etc. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all 
  

 6 

 
or substantially all of the business and/or assets of the Company, spouses, heirs, executors and personal and legal representatives. This Agreement shall continue in
effect regardless of whether Indemnitee continues to serve as an officer or director of the Company or of any other enterprise at the Company’s request. 
  
 16.    Severability. The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any
provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the validity and enforceability of any such provision in every other respect
and of the remaining provisions hereof shall not be in any way impaired and shall remain enforceable to the fullest extent permitted by law. 
  
 17.    Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware
applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement this          day of September, 2004. 
  
  

			
	 EDUCATE, INC.

		
	 By:
	 	

	 	 	 Name:
 Title:

	
	

	 Name of Indemnitee

  

 7

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