Document:

Employment Agreement

 Exhibit 10.1 
 August 19, 2008 
 Susan W. Race, Ed.D. 
 Dear
Dr. Race: 
 I am pleased to offer you the position of Senior Vice President, Education for Nobel Learning Communities, Inc. (“NLCI”),
to be based at the home office in West Chester, PA. We would like you to start in your new position on September 15, 2008 at an annualized salary of $150,000, payable bi-weekly, one week in arrears. The position of Senior Vice President,
Education reports directly to the Chief Executive Officer. The further details of the offer are as follows: 
 You will receive a car allowance of $500 per
month. In addition, subject to approval of the Compensation Committee of the Board of Directors and subject to the terms and conditions of the 2004 Omnibus Incentive Equity Compensation Plan and the corresponding Form of Stock Option Agreement, you
will be granted 20,000 stock options with an exercise price equal to the “Fair Market Value” on your first day of employment in your new job. These options will vest over a three year period, with one-third of these options vesting on each
anniversary of the grant date. 
 You will receive four (4) weeks of paid vacation per anniversary year, which will immediately accrue upon employment,
and must be taken by your anniversary date in each year. You will also receive three (3) paid sick days per anniversary year, which will be accrued according to NLCI policy, commencing on the first of the month following 90 days of employment.

 You will be eligible to participate in a bonus plan to be approved by the Board for fiscal year
2009 and beyond, at a target payout level of 50% of your salary (for example, your full year target bonus for fiscal year 2009 would be $75,000). The amount of the bonus you will be eligible to receive under the bonus plan will be dependent on both
corporate achievement versus targets set by the Company’s Compensation Committee and individual achievements, including satisfactory job performance as determined by the Chief Executive Officer. For FY 2009, assuming you start by
September 15th, 2008, you will be eligible to fully participate in the fiscal 2009 bonus plan, without any pro-ration. 
 You will also be eligible to participate in the Company’s Long Term Incentive Compensation plan as approved by the Board. For FY 2009, your target option grant
award will be 15,000 (subject to change by the Compensation Committee). 
 You will also be eligible to participate in the Company’s Deferred
Compensation Program. Under this program, you may defer a portion of your compensation, tax free, during the period of your employment. In addition, the compensation Committee of the Board sets an annual Company contribution to your Deferred
Compensation Plan account. For FY 2009, the Compensation Committee has determined that the Company will contribute an additional 10% of your cash compensation (subject to change by the Compensation Committee) to your Deferred Compensation
Plan account. 
 You will also be eligible to participate in a an annual salary review at the same time as all Senior Executives of NLCI generally, but
acknowledge that any salary increase will be subject to any 

 
requirements then in effect for salaries of executive officers under the rules and regulations of Nasdaq or the Securities and Exchange Commission.
However, you will not be eligible for a salary increase during FY 2009, which would normally be effective in October, 2008. Notwithstanding the foregoing, nothing contained herein shall in any manner obligate NLCI to make any increase or
provide any additional compensation to you. 
 You will also be eligible for all other NLCI benefits generally available to Senior Executives, as such
benefits may be in effect from time to time. The current benefits to which you are entitled are described in the enclosed Nobel Learning Communities, Inc. 2008-2009 Employee Benefit Summary, Vice President/Executive Benefits, and you will be
eligible to participate in all health and welfare benefits as of your first day of employment. 
 You
will also be entitled to receive a Severance and Change of Control Agreement. Should your employment be terminated by NLCI without cause, you will receive as a severance payment (unless the termination is for “Cause1,” or results from a “Change of Control2”)
the greater of (a) nine (9) months’ salary and medical benefits, or (b) the amount of severance to which you become entitled under any new severance plan which may be adopted by the Company in the future and which, at the time of
your termination, is either (i) generally applicable to all Vice Presidents of NLCI, or (ii) to which you have been added as a participant by NLCI’s Board of Directors or Chief Executive Officer. No severance payment will be made if
you are terminated for Cause. If your employment is terminated by NLCI, without Cause, within twelve (12) months following any Change of Control, you will receive (in lieu of the foregoing severance amounts), eighteen (18) months’
salary and medical benefits as a severance payment, along with other benefits as spelled out in the Severance and Change of Control Agreement. 
 This offer
letter is not intended to be, and is not, a contract of employment; but is a statement of the provisions and conditions under which NLCI shall employ you. Nothing contained in this offer letter shall restrict the right of either NLCI or you to
terminate the employment relationship (which is legally considered one of employment-at-will) for any reason at any time. 
  

	 1
	 The term “Cause” includes, but is not limited to, any of the following: (a) habitual intoxication or drug
addiction; (b) violation of any of NLCI’s written policies, procedures or codes (including, without limitation, those with respect to harassment (sexual or otherwise) and ethics); (c) refusal or failure to perform such duties as may
reasonably be delegated or assigned to you, consistent with your position, by NLCI’s Chief Executive Officer; (d) willful refusal or willful failure to comply with any requirement of the Securities and Exchange Commission or any securities
exchange or self-regulatory organization then applicable to NLCI; (e) willful or wanton misconduct in connection with the performance of your duties including, without limitation, breach of fiduciary duties; (f) conviction of, pleading
guilty, no contest or nolo contendere to, or admitting or confessing to any felony, act of fraud, misappropriation, embezzlement or any misdemeanor involving moral turpitude; or (g) dishonesty detrimental to the best interest of NLCI.
Cause shall not exist unless, in the case of the foregoing clauses (c) and (e), NLCI has first given you written notice specifying in reasonable detail the circumstances which NLCI believes gives rise to Cause for termination and you have
failed to remedy the same to the reasonable satisfaction of NLCI’s Chief Executive Officer within 15 days after the date of such notice, or unless the condition or event is not subject to cure, or a substantially similar condition or event has
been the subject of a prior notice by NLCI within the 12 months preceding such notice. 

	 2
	 A “Change of Control” shall be deemed to have taken place if (a) any “person” becomes the
“beneficial owner” (as such terms are defined in the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated thereunder) of shares of NLCI having 50% or more of the total number of votes
that may be cast for the election of NLCI’s directors; or (b) there occurs any cash tender or exchange offer for NLCI shares, merger or other business combination, or (c) sale of all or substantially all of its assets, or (d) any
combination of the foregoing transactions, and as a result of or in connection with any such event persons who were NLCI directors before the event shall cease to constitute a majority of the Board or of the board of directors of any successor to
NLCI. 

 As part of the terms and conditions of your employment with NLCI, you will be provided with a Noncompetition,
Nonsolicitation and Confidentiality Agreement. In consideration of, and as a condition to, your employment in this position, you must execute and deliver to NLCI the Noncompetition, Nonsolicitation and Confidentiality Agreement. To acknowledge your
acceptance of this offer, we ask that you sign a copy of this letter along with the Noncompetition, Nonsolicitation and Confidentiality Agreement and return both documents to me on or before August 29, 2008. 
 Finally, as a condition of employment, you hereby acknowledge and agree that NLCI will arrange to have background checks conducted on you, including a social security
trace, a criminal history based on the results of that trace, verification of employment references, education and credential verification, and any other checks which NLCI deems necessary or appropriate for employment with us in this position.
Furthermore, you hereby acknowledge and agree that this offer is contingent upon NLCI’s satisfaction with the results of these checks, and that this offer may be rescinded at any time if the results of these checks prove to be unsatisfactory to
us. 
 I am delighted that you are considering joining our organization and hope to have the opportunity to work with you. If you have any questions, feel
free to contact me. 
  

	
	Sincerely,
	
	George Bernstein
	Chief Executive Officer

  

									
	Agreed to by:	 	  
	 		 	Date:	 	  

		 	Susan W. Race, Ed.D.Modification Agreement

 Exhibit 10.1 
 Return to: 
 Erika B. Newsom 
 Smith Moore
Leatherwood, LLP 
 P.O. Box 87 
 Greenville, SC 29602 

 

					
	  
	 	  
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	RBC Bank (USA)	 		 	 Modification Agreement
 (Cover Page)

			
		 		 	 Prepared by:
 Erika B. Newsom
 Smith Moore Leatherwood, LLP
 P.O. Box 87
 Greenville, SC 29602

			
	State of South Carolina	 		 	County of Greenville

  

			
	From:	 	COMPUTER SOFTWARE INNOVATIONS, INC. (whether one or more, “Borrower”), with a business/mailing address of 900 East Main Street, Suite T, Easley, South Carolina
29640.
		
	To:	 	RBC BANK (USA), formerly known as RBC Centura Bank (“Bank”), with a business address of 134 N. Church Street, Rocky Mount, North Carolina 27804 and a mailing address of Post Office
Box 1220, Rocky Mount, North Carolina 27802-1220, which mailing address is the place to which all notices and communications should be sent to Bank regarding this Modification Agreement.
		
	Date:	 	September 11, 2008

  

			
	Cross Reference to Recorded
Documents Modified:	 	N/A
		
	Original Principal Debt:	 	$7,000,000.00
		
	Current Principal Debt:	 	$5,309,000.00

			
	RBC Bank (USA)	 	 MODIFICATION
 AGREEMENT

 THIS MODIFICATION AGREEMENT (“Modification
Agreement”), entered into as of the 11th day of September, 2008 (the “Effective Date”), by COMPUTER SOFTWARE INNOVATIONS, INC.
(“Borrower”, whether one or more) with a mailing address of 900 East Main Street, Suite T, Easley, South Carolina 29640, and RBC BANK (USA), formerly known as RBC Centura Bank (“Bank”), with a mailing address of Post Office Box
1220, Rocky Mount, North Carolina 27802-1220 
  

	A.	Borrower has made and issued to Bank its promissory note (“Note”) in the original principal amount and dated as indicated on Attachment 1 attached hereto.

  

	B.	If so indicated on Attachment 1, the Note is secured and the security is generally as described on Attachment 1. 

  

	C.	The Note, any security documents described on Attachment 1 and any other loan and security documents that are outstanding with respect to the extension of credit evidenced by
the Note, even if not listed on Attachment 1, are hereinafter collectively referred to as the “Contract” and the Contract is hereby incorporated herein as a part of this Modification Agreement. 

  

	D.	Bank and Borrower mutually desire to modify the provisions of the Contract in the manner hereinafter set out, it being specifically understood and agreed that, except as herein
modified, the terms and provisions of the Contract and the individual instruments, documents and agreements that make up the Contract shall remain unchanged and the Contract, as herein modified, shall continue in full force and effect as therein and
herein written. 

 NOW, THEREFORE, Bank and Borrower, in consideration of the premises and the sum of One Dollar ($1.00) to each in hand paid
by the other, receipt and sufficiency of which are hereby acknowledged by each, do hereby agree as follows: 
 Section 1.
Modification. The Contract shall be, and the same is, modified in the manner set forth in Attachment 2. 
 Section 2. Effect
of Modification. Nothing contained in this Modification Agreement shall in any way impair the security now held for the indebtedness evidenced by the Contract or the lien priority thereof, nor waive, annul, vary or affect any provision,
condition, covenant and agreement contained in the Contract, nor affect or impair any rights, powers and remedies under the Contract, except as herein specifically modified to do any one or more of the foregoing. If any provision in this
Modification Agreement shall be interpreted or applied by a court or other tribunal with personal and subject matter jurisdiction over the parties hereto and the Contract, as modified, so as to impair the security now held for the indebtedness or
lien priority thereof, or do any one or more of any of the foregoing, such provision shall be ineffective to the extent it causes an impairment of such security or the lien priority thereof or causes any of such other consequences, or the
application thereof shall be in a manner and to an extent which does not impair such security or the lien priority thereof, or result in the occurrence of any of the other consequences. This Modification Agreement does not extend the expiration
dates or enlarge the terms of any property, physical damage, credit and any other insurance written in connection with or financed by said Contract. 
 Section 3. Financing Statements. Borrower irrevocably authorizes Bank to file such financing statements and amendments thereof as may be necessary to protect, in Bank’s opinion, Bank’s security interests and liens and, to
the extent Bank deems necessary or appropriate, to sign the name of Borrower with the same force and effect as if signed by Borrower and to make public in financing statements and other public filings such information regarding Borrower as Bank
deems necessary or appropriate, including, without limitation, federal tax identification numbers, social security numbers and other identifying information. 

 Section 4. Usury. Bank does not intend to and shall not reserve, charge and collect interest, fees
and charges under the Contract, as herein modified, in excess of the maximum rates and amounts permitted by applicable law. If any interest, fees and charges are reserved, charged and collected in excess of the maximum rates and amounts, it shall be
construed as a mutual mistake, appropriate adjustments shall be made by Bank and to the extent paid, the excess shall be returned to the person making such a payment. 
 Section 5. Documentary Stamps, etc. To the extent not prohibited by law and notwithstanding who is liable for payment of the taxes and fees, Borrower shall pay, on Bank’s demand, all intangible taxes,
documentary stamp taxes, excise taxes and other similar taxes assessed, charged and required to be paid in connection with this Modification Agreement, and any future extension, renewal and modification of the Contract, or assessed, charged and
required to be paid in connection with any of the loan documents which make up the Contract. 
 Section 6. Costs and Expenses. All of
the costs and expenses incurred by Bank in connection with this Modification Agreement shall be paid by Borrower upon the request of and at the time of demand for payment thereof made by Bank on Borrower. As used herein, “costs and
expenses” include, without limitation, reasonable attorneys’ fees and fees of legal assistants, and reasonable fees of accountants, engineers, surveyors, appraisers and other professionals or experts – and all references to
attorneys’ fees or fees of legal assistants, or fees of accountants, engineers, surveyors, appraisers or other professionals or experts shall mean reasonable fees. 
 Section 7. Waiver of Jury Trial. Borrower, to the extent permitted by law, waives any right to a trial by jury in any action arising from or related to this Modification Agreement and waives any right to a
trial by jury in any action or proceeding arising from or related to the Contract, as herein modified. 
 Section 8. Governing Law.
This Agreement shall be governed and construed in accordance with the laws of the State whose laws govern the Contract, excepting, however, its conflict of law provisions. 
 Section 9. Reservation of Rights; Entire Agreement. Bank does hereby reserve all rights and remedies it may have against all parties secondarily liable for repayment of the indebtedness evidenced by the
Contract. The Contract, as herein modified, contains the entire agreement of the parties and the undersigned do hereby ratify and confirm the terms of the Contract, all of which shall remain in full force and effect, as modified herein. This
Modification Agreement shall be binding upon any assignee and successor in interest of the parties hereto. All references herein to the “Modification Agreement” include any supplemental agreements filed of record to reflect modifications
of any of the instruments, documents and other agreements making up the Contract that are of record. 
 (Signatures On Next Page)

  

 2 

 The undersigned have executed this Modification Agreement under seal as of the day and year first above stated.

  

							
	BANK:	 		    	Signed, sealed and delivered in the presence of:
			
	RBC BANK (USA)	    	Witness:	 	
			
	By:	 	 /s/ Charles H. Arndt
	    	 /s/ Angie Long

	Print Name:	 	Charles H. Arndt	    	Print Name:	 	 Angie Long

	Title:	 	Senior Vice President	    		 	
		 		    	Witness:	 	
			
		 		    	 /s/ Jonathan Gibellino

		 		    	Print Name:	 	 Jonathan Gibellino

			
	BORROWER:	    		 	
		
	COMPUTER SOFTWARE INNOVATIONS, INC.	    	Signed, sealed and delivered in the presence of:
				
	By:	 	 /s/ David B. Dechant
	    	Witness:	 	
	Print Name:	 	David B. Dechant	    	
	Title:	 	Chief Financial Officer	    	 /s/ Wendy S. Knorr

		 		    	Print Name:	 	 Wendy S. Knorr

				
		 		    	Witness:	 	
			
		 		    	 /s/ Russell Young

		 		    	Print Name:	 	 Russell Young

  

 3 

					
	STATE OF SOUTH CAROLINA	 	)	  	
		 	)	  	 ACKNOWLEDGEMENT

	COUNTY OF GREENVILLE	 	)	  	

 Personally appeared before me Charles H. Arndt, as Senior Vice President of RBC BANK (USA), who, being by me first
duly sworn, did depose and say that he has read the within instrument, that the statements and recitations made therein are true and that he acknowledges that he did sign said instrument as his free act and deed. 
 Sworn to before me on September 16, 2008. 
  

			
	 /s/ Angie Long
	 	(SEAL)
	Notary Public for South Carolina

					
	My Commission Expires:	 	 2-14-15
	 	

  

					
	STATE OF SOUTH CAROLINA	 	)	  	
		 	)	  	 ACKNOWLEDGEMENT

	COUNTY OF GREENWOOD	 	)	  	

 Personally appeared before me David B. Dechant, as Chief Financial Officer of COMPUTER SOFTWARE INNOVATIONS, INC.,
who, being by me first duly sworn, did depose and say that he has read the within instrument, that the statements and recitations made therein are true and that he acknowledges that he did sign said instrument as his free act and deed. 

Sworn to before me on September 11, 2008. 
  

			
	 /s/ Ann C. Nicholson
	 	(SEAL)
	Notary Public for South Carolina

					
	My Commission Expires:	 	 01/27/2015
	 	

  

 4 

 Attachment 1 
 To 
 Modification Agreement 
  

	1.	Describe Promissory Note (Date, Original Amount, Current Amount and all Modifications): 

 Amended and Restated Commercial Promissory Note from Computer Software Innovations, Inc. to RBC Centura Bank (now known as RBC Bank (USA))
dated September 14, 2007 in the original principal amount of $7,000,000.00, with a current outstanding balance of $5,309,000.00, as amended by a Modification to Revolving Facility between Bank and Borrower dated June 30, 2008 (the
“First Modification”). 
  

	2.	Describe Security Documents (Type, Date and if recorded, Recording Information): 

  

	 	(a)	Second Amended and Restated Loan and Security Agreement by and between Computer Software Innovations, Inc. and RBC Centura Bank (now known as RBC Bank (USA)) dated
September 14, 2007, as amended by the First Modification (the “Loan Agreement”), relating to substantially all of the Borrower’s assets. 

  

	 	(b)	UCC-1 Financing Statement, filed on January 31, 2007 in the Department of State for Delaware as No. 2007 0088061. 

 Attachment 2 
 To 
 Modification Agreement 
 The Contract shall be, and the same is, modified as follows: 
  

	1.	For the limited time period expressed herein, the principal amount as stated in the Note and in the definition of “Revolving Facility” in the Loan Agreement, is increased
to $8,000,000.00 from the effective date of this Modification Agreement to November 15, 2008, at which time the principal amount of the Note and the amount set forth in the definition of “Revolving Facility” in the Loan Agreement
shall automatically reduce to $7,000,000.00 and Borrower shall immediately repay any advances in excess of borrowing limitations effective following such reduction. To the extent such principal amount is stated in any of the other individual
instruments, documents and agreements that make up the Contract, the principal amount shall be adjusted in accordance with the terms herein. 

  

	2.	For the limited time period expressed herein, the maximum borrowing ability of Borrower against Eligible Inventory of $1,000,000.00 set forth in the definition of “Borrowing
Base” in the Loan Agreement is increased to $2,000,000.00 from the effective date of this Modification Agreement to November 15, 2008, at which time such maximum borrowing ability against Eligible Inventory shall automatically reduce to
$1,000,000.00 and Borrower shall immediately repay any advances in excess of borrowing limitations effective following such reduction. To the extent such limitation on the inclusion of Eligible Inventory in the Borrowing Base is stated in any of the
other individual instruments, documents and agreement that make up the Contract, such amount shall be adjusted in accordance with the terms herein. 

  

	3.	Except as modified herein, each of the loan and security documents comprising the Contract remains in full force and effect and legally binding and enforceable against the Borrower.

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