Document:

EXHIBIT
10.14

     

    STOCK
PURCHASE AGREEMENT

     

    This
STOCK PURCHASE AGREEMENT (this “Agreement”), is made
and entered into as of March 1, 2010 (the “Effective Date”), by
and between China Yongxin Pharmaceuticals Inc. (“Seller”) and PmMaster
Beijing Software Co., Ltd (“Purchaser”).

     

    RECITALS

     

    
      	
               
      

            	
              A.

            	
              Seller
      is the record and beneficial owner
of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              all
      of the shares of capital stock of Digital Learning Institute Inc., a
      Delaware corporation (the “DLI
      Shares”);

            

    

     

    
      	
               
      

            	
              (ii)

            	
              all
      of the shares of capital stock of Software Education of America, Inc., a
      California corporation (the “SEA
      Shares”);

            

    

     

    
      	
               
      

            	
              (iii)

            	
              all
      of the shares of capital stock of McKinley Educational Services, Inc., a
      California corporation (the “MES
      Shares”);

            

    

     

    
      	
               
      

            	
              (iv)

            	
              all
      of the shares of capital stock of Digital Knowledge Works, Inc., a
      Delaware corporation (the “DKW Shares”);
      and

            

    

     

    
      	
               
      

            	
              (v)

            	
              all
      of the shares of capital stock of Coursemate, Inc., a California
      corporation (the “Coursemate
      Shares”).

            

    

     

    B.           In
consideration of the covenants and agreements set forth herein, Seller desires
to sell the Shares (as defined below) to Purchaser and Purchaser desires to
purchase the Shares from Seller on the terms and conditions set forth in this
Agreement.

     

    AGREEMENT

     

    NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained in
this Agreement, the parties, intending to be legally bound, hereby agree as
follows:

     

    ARTICLE
1

    DEFINITIONS

     

    Section
1.1           Certain
Definitions.  As used herein, the following terms shall have
the following meanings:

     

    (a)           “Shares” means,
collectively, the DLI Shares, the SEA Shares, the MES Shares, the DKW Shares and
the Coursemate Shares.

     

    (b)           “Subsidiaries” means,
collectively, Digital Learning Institute Inc., a Delaware corporation; Software
Education of America, Inc., a California corporation; McKinley Educational
Services, Inc., a California corporation; Digital Knowledge Works, Inc., a
Delaware corporation; and Coursemate, Inc., a California
corporation.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

         

    

    ARTICLE
2

    SALE AND
PURCHASE OF THE SHARES

     

    Section
2.1           Sale of the
Shares.  Subject to the terms and conditions of this Agreement,
and in consideration of the covenants and agreements set forth herein (including
the waiver set forth in Article 3 hereof), on the Effective Date, Purchaser
shall purchase from Seller, and Seller shall sell, transfer and deliver to
Purchaser, the Shares, free and clear of all options, pledges, security
interests, voting trusts or similar arrangements, liens, charges or other
encumbrances or restrictions of any kind whatsoever (collectively, “Encumbrances”).

     

    Section
2.2            Purchase
Price.  In consideration for the Shares, on the Effective Date,
Purchaser shall pay by wire transfer to Seller the sum of $20,000.

     

    Section
2.3            Delivery.  On
the Effective Date, Seller shall surrender to Purchaser the stock certificates
evidencing the Shares (or execute and deliver to Purchaser an affidavit stating
to the effect that Seller never received such stock certificates), together with
any stock powers and such other good and sufficient instruments of conveyance
and assignment, satisfactory in form and substance to Purchaser, as shall be
necessary to warrant and vest in Purchaser good and marketable right, title and
interest in and to the Shares.  Promptly after the execution of this
Agreement, the parties shall also deliver an executed copy of this Agreement to
each of the Subsidiaries so that each such Subsidiary may reflect the change in
ownership of the applicable Shares on its stock ledger and related
records.

     

    ARTICLE
3

    WAIVER OF
CLAIMS

     

    Section
3.1.           Release by Purchaser and the
Subsidiaries.  Purchaser, for itself and its successors and
assigns (collectively, the “Releasing Parties”)
hereby absolutely, forever and fully, generally and specifically,
unconditionally and irrevocably releases, acquits, and forever discharges
Seller, its affiliates, agents, representatives, attorneys, accountants, heirs,
predecessors, successors and assigns (collectively the “Released Parties”),
of and from any and all claims, actions, causes of action, demands, rights,
damages, costs, expenses and compensation of every kind, including, but not
limited to, attorneys’ fees and costs of any kind or nature (collectively, the
“Claims”),
known or unknown, which the Releasing Parties, or any of them, heretofore had,
owned, held or claimed to have, own or hold against any of the Released Parties,
or at any time now or in the future have own, hold or claim to have, own or hold
against any of the Released Parties which relate to or arise out of Seller’s
prior relationship with the Subsidiaries (including Seller’s rights or status as
a stockholder of the Subsidiaries); provided, however, that this
Agreement does not discharge any representations and warranties, covenants or
obligations of the parties under or contained in this Agreement.

     

    Section
3.2.            Section
1542.  Purchaser acknowledges that in the event that at any
time after the execution of this Agreement by the parties any injury, loss or
damage is sustained in connection with any matter released in Section 3.1 or any
matter set forth elsewhere in this Agreement which is not now known or
suspected, or in the event that the loss or damage now known has consequences or
results not known or suspected, this Agreement shall nevertheless constitute a
full and final release as to the parties and matters herein released, and this
release shall apply to and include all such unknown or unsuspected consequences
or results.  Each of the parties has read and has been carefully
advised by their attorneys of the contents of Section 1542 of the California
Civil Code which reads as follows:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    “A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH
THE DEBTOR.”

     

    Purchaser
hereby expressly, unconditionally and irrevocably waives any and all rights and
benefits under Section 1542.

    

    ARTICLE
4

    REPRESENTATIONS
AND WARRANTIES OF SELLER

     

    Seller
hereby represents and warrants to Purchaser that:

     

    Section
4.1            Authorization; Due Execution
and Delivery; Binding Obligation.  Seller has the requisite
power and authority to execute and deliver this Agreement, to consummate the
transactions contemplated hereby and to perform its obligations
hereunder.  This Agreement has been duly executed and delivered by
Seller and constitutes a legal, valid and binding agreement and obligation of
Seller, enforceable against Seller in accordance with its terms.

     

    Section
4.2            Title to the
Shares.  Seller owns the Shares beneficially and of record,
free and clear of any and all Encumbrances or other rights of third parties of
any kind or nature.  Except for this Agreement, (i) there is no
outstanding option, warrant, call, right or other agreement or commitment
obligating Seller to sell, deliver or transfer any of the Shares to any other
person or entity, (ii) no person other than Seller has any ownership interest or
claim in or to the Shares of any kind and (iii) no person other than Seller has
any ownership interest in, or right to acquire any ownership interest in, any of
the Subsidiaries.

     

    Section
4.3            No
Violation.  Neither the execution and delivery of this
Agreement nor the consummation of the transactions contemplated hereby will (i)
conflict with or constitute a default under any contract, agreement or
instrument to which Seller or any of the Subsidiaries is a party or (ii) violate
any statute or law or any judgment, decree, order, regulation or rule of any
court or governmental authority.

     

    Section
4.4            Acknowledgments of
Seller.  Seller understands, acknowledges and agrees that: (i)
the decision to sell the Shares to Purchaser has been made by Seller in its sole
discretion with the advice of Seller’s professional advisors; (ii) Seller,
either alone or with the assistance of its professional advisors, has such
knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of the sale and purchase contemplated by this
Agreement; (iii) the consideration as set forth herein may be less than
would be obtained by Seller under other circumstances, including, without
limitation, if the Subsidiaries (or any number of the Subsidiaries) were sold to
a third party or if Seller was to retain the Shares and sell the Shares at some
time in the future; (iv)  Seller has completely and carefully read this
Agreement and understands its terms and consequences and has had the opportunity
to consult with its own counsel, accountant and/or other professional advisors
and to obtain advice from any other person or expert that Seller deems relevant;
and (v) Seller’s decision to sell the Shares is fully and completely
informed.

    
      
         

      

      
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    ARTICLE
5

    REPRESENTATIONS
AND WARRANTIES OF PURCHASER

     

    Purchaser
represents and warrants to Seller that:

     

    Section
5.1           Authorization; Due Execution
and Delivery; Binding Obligations.  Purchaser has the requisite
power and authority to execute and deliver this Agreement, to consummate the
transactions contemplated hereby and to perform Purchaser’s obligations
hereunder.  This Agreement has been duly executed and delivered by
Purchaser and constitutes the legal, valid and binding agreement and obligation
of Purchaser enforceable against Purchaser in accordance with its
terms.

     

    Section
5.2            No
Violation.  Neither the execution and delivery of this
Agreement nor the consummation of the transactions contemplated hereby will (i)
conflict with or constitute a default under any contract, agreement or
instrument to which Purchaser is a party or (ii) violate any statute or law or
any judgment, decree, order, regulation or rule of any court or governmental
authority.

     

    Section
5.3            Knowledge of the
Business.  Purchaser has sufficient knowledge of the business
of each of the Subsidiaries, and has access to all relevant available
information of each of the Subsidiaries, so as to have the capacity to evaluate
the relative merits and risks of purchasing the Shares.

     

    Section
5.4            Sophisticated
Investor.  Purchaser, either alone or with the assistance of
Purchaser’s professional advisors, has such knowledge and experience in
financial and business matters that Purchaser is capable of evaluating the
merits and risks of an investment in the Shares and has the net worth to
undertake such risks.

     

    Section
5.5            Investment
Intent.  Purchaser is purchasing the Shares for Purchaser’s own
account for investment purposes and not for the account of any other person or
entity and not with a view to or for sale in connection with any distribution of
all or any part of the Shares.

     

    Section
5.6            No Public
Market.  Purchaser acknowledges and understands that the Shares
have not been registered under the Securities Act of 1933, as amended (the
“Act”), or
qualified under any applicable state securities laws or regulations, that the
Shares are being offered in reliance upon exemptions from the registration
requirements of the Act and such laws and regulations and that, as such, the
Shares may not be resold without registration under the Act and applicable state
securities laws or an applicable exemption thereto.

    
      
         

      

      
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    ARTICLE
6

    MISCELLANEOUS

     

    Section
6.1            Reasonable
Efforts.  Upon the terms and subject to the conditions set
forth in this Agreement, each of the parties agrees to use its commercially
reasonable efforts to take, or cause to be taken, all actions, and to do, or
cause to be done, and to assist and cooperate with the other parties in doing,
all things necessary, proper or advisable to consummate and make effective, in
the most expeditious manner practicable, the transactions contemplated by this
Agreement.

     

    Section
6.2            Expenses.  Each
party hereto will bear its own expenses in connection with the negotiation and
execution of this Agreement and the performance of the transactions contemplated
hereby.

     

    Section
6.3            Survival of
Agreements.  All covenants, agreements, representations and
warranties made herein shall survive the execution and delivery of this
Agreement and the purchase, sale and delivery of the Shares.

     

    Section
6.4            Parties in
Interest.  All representations, covenants and agreements
contained in this Agreement by or on behalf of any of the parties hereto shall
bind and inure to the benefit of the respective successors and assigns of the
parties hereto whether so expressed or not.

     

    Section
6.5            Notices.  All
notices, requests, consents and other communications hereunder shall be in
writing and shall be delivered in person, mailed by certified or registered
mail, return receipt requested, or sent by fax, to the address or addresses set
forth on the signature page hereto, or at such other address or addresses as
shall have been furnished in writing by such party to the others in accordance
with this Section 6.5.

     

    Section
6.6            Governing
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of California.

     

    Section
6.7            Entire
Agreement.  This Agreement constitutes the sole and entire
agreement of the parties with respect to the subject matter hereof.

     

    Section
6.8            Counterparts; Facsimile
Signatures.  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.  Delivery of a
signed counterpart of this Agreement by facsimile transmission constitutes good
and valid execution and delivery of this Agreement.

     

    Section
6.9            Amendments.  This
Agreement may not be amended or modified, and no provisions hereof may be
waived, without the written consent of Seller and Purchaser.

     

    Section
6.10          Severability.  If
any provision of this Agreement shall be declared void or unenforceable by any
judicial or administrative authority, the validity of any other provision and of
the entire Agreement shall not be affected thereby.

     

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    IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written above.

    

    
      
        	
                PURCHASER:

              	 
      	
                SELLER:

              
	 
      	 
      	 
      
	
                PmMaster
      Beijing Software Co., Ltd

              	 
      	
                China
      Yongxin Pharmaceuticals Inc.

              
	 
      	 
      	 
      	 
      
	
                By:

              	 
      	 
      	
                By:

              	 
      
	
                Name:  

              	 
      	 
      	
                Name:  

              	 
      
	
                Title:

              	 
      	 
      	
                Title:

              	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                Address
      for purposes of notice:

              	 
      	 
      	
                Address
      for purposes of notice:

              
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                Facsimile
      No.: _____________________________

              	 
      	 
      	
                Facsimile
      No.:
_____________________________

              

      

    

    
      
         

      

      
        6Unassociated Document

    China
Yongxin Pharmaceuticals Inc.

    927
Canada Court

    City of
Industry, California 91748

    

    March 30,
2010

    

    
      	
              To:

            	
              [__________]

            

    

    

    
      	
              Re:

            	
              China Yongxin
      Pharmaceuticals Inc. Board of Directors – Acceptance
      Letter

            

    

    

    Dear
[________]:

    

    China
Yongxin Pharmaceuticals Inc., a Delaware corporation (the “Company”), is pleased
to offer you a director position on its Board of Directors (the
“Board”).  The business and affairs of the Company shall be managed
under the direction of the Board, in accordance with Delaware law and the
Articles of Incorporation (as amended) and Bylaws (as amended) of the
Company.  The Board will meet regularly and as frequently as once a
month.

    

    This
document amends and restates the original Director’s Offer and Acceptance Letter
between you and the Company dated February 25, 2010.

    

    Should
you choose to accept this position as a member of the Board, this letter shall
constitute the effective agreement between you and the Company regarding certain
terms and conditions relating to the services you are to provide as a
director.

    

    1.           Term.  The terms of this
agreement will apply for as long as you serve as a director on the
Board.  Your term as director will begin upon formal appointment by
the Board of Directors, and will continue until your successor is duly elected
and qualified.   The Company’s Board of Directors is re-elected
each year at the annual shareholder’s meeting and upon re-election, the terms
and provisions of this agreement shall remain in full force and
effect.

    

    2.           Services
and Compensation.  You agree to
render services in the area of managing or directing the business and affairs of
the Company in accordance with Delaware law and the Articles of Incorporation
(as amended) and Bylaws (as amended) of the Company (hereinafter your
“Duties”).  You shall consult with other members of the Board at
meetings held monthly at locations designated by the Chairman of the Board of
the Company.  The Board anticipates that you will be appointed to
serve as the Chairman of the Audit Committee, and you agree to accept this
appointment. You may also be appointed by the Board or Chairman to serve on
one or more other board committees (Compensation and/or Nominating), and you
agree to serve on those committees.  In consideration for your service
as a member of the Board and the Chairman of the Audit Committee, the Company
agrees to pay you an annual compensation of USD 30,000 (the “Annual
Compensation”) and in connection with your agreement to join the Board you will
also be eligible to receive a stock option award for the purchase of up to
200,000 shares (subject to appropriate adjustment in the event of reverse stock
splits or similar events that occur after the date of this letter) of the
Company’s common stock through an incentive stock option plan to be adopted by
the Company.  The stock option will be subject to vesting, consistent
with similar awards granted to other directors on the Board.  Your
Annual Compensation shall be paid in a manner consistent with compensation to
all directors on the Board, as determined by the Board of
Directors.  Your compensation as a director in any future periods is
subject to the determination of the Board of Directors, and may differ in future
periods should you continue to serve on the Board.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    3.           Services
for Others.  You shall be free
to represent or perform services for other organizations or persons during the
term of this agreement.  However, you agree that you do not presently
perform and do not intend to perform, during the term of this agreement, similar
Duties, consulting or other services for companies whose businesses are or would
be, in any way, competitive with the Company (except for companies previously
disclosed by you to the Company in writing).  Should you propose to
perform similar Duties, consulting or other services for any such company, you
agree to notify the Company in writing in advance (specifying the name of the
organization for whom you propose to perform such services) and to provide
information to the Company sufficient to allow it to determine if the
performance of such services would conflict with areas of interest to the
Company.

    

    6.           No
Assignment.  Due to the
personal nature of the services to be rendered by you, this agreement may not be
assigned by you without the prior written consent of the Company.

    

    7.           Confidential
Information; Non-Disclosure.  In consideration
of your access to the premises of the Company and/or you access to certain
Confidential Information of the Company, in connection with your business
relationship with the Company, you hereby represent and agree as
follows:

    

    a.           Definition.  For purposes of
this agreement the term “Confidential Information” means:

    

    i.           Any
information which the Company possesses that has been created, discovered or
developed by or for the Company, and which has or could have commercial value or
utility in the business in which the Company is engaged; or

    

    ii.           Any
information which is related to the business of the Company and is generally not
known by non-Company personnel.

    
      
         

      

      
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    iii.           By
way of illustration, but not limitation, Confidential Information includes trade
secrets and any information concerning products, processes, formulas, designs,
inventions (whether or not patentable or registrable under copyright or similar
laws, and whether or not reduced to practice), discoveries, concepts, ideas,
improvements, techniques, methods, research, development and test results,
specifications, data, know-how, software, formats, marketing plans, and
analyses, business plans and analyses, strategies, forecasts, customer and
supplier identities, characteristics and agreements.

    

    b.           Exclusions.  Notwithstanding
the foregoing, the term Confidential Information shall not include:

    

    i.           Any
information which becomes generally available to the public other than as a
result of a breach of the confidentiality portions of this agreement, or any
other agreement requiring confidentiality between the Company and
you;

    

    ii.           Information
received from a third party in rightful possession of such information who is
not restricted from disclosing such information; and

    

    iii.           Information
known by you prior to receipt of such information from the Company, which prior
knowledge can be documented.

    

    c.           Documents. You agree that, without the
express written consent of the Company, you will not remove from the Company's
premises, any notes, formulas, programs, data, records, machines or any other
documents or items which in any manner contain or constitute Confidential
Information, nor will you make reproductions or copies of same. In the event you
receive any such documents or items by personal delivery from any duly
designated or authorized personnel of the Company, you shall be deemed to have
received the express written consent of the Company.  In the event
that you receive any such documents or items, other than through personal
delivery as described in the preceding sentence, you agree to inform the Company
promptly of your possession of such documents or items.  You shall
promptly return any such documents or items, along with any reproductions or
copies to the Company upon the Company's demand or upon termination of this
agreement.

    

    d.           No
Disclosure.  You agree that
you will hold in trust and confidence all Confidential Information and will not
disclose to others, directly or indirectly, any Confidential Information or
anything relating to such information without the prior written consent of the
Company, except as maybe necessary in the course of his business relationship
with the Company.  You further agree that you will not use any
Confidential Information without the prior written consent of the Company,
except as may be necessary in the course of your business relationship with the
Company, and that the provisions of this paragraph (d) shall survive termination
of this agreement.

    
      
         

      

      
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    10.           Entire
Agreement; Amendment; Waiver.  This agreement
expresses the entire understanding with respect to the subject matter hereof and
supersedes and terminates any prior oral or written agreements with respect to
the subject matter hereof. Any term of this agreement may be amended and
observance of any term of this agreement may be waived only with the written
consent of the parties hereto.  Waiver of any term or condition of
this agreement by any party shall not be construed as a waiver of any subsequent
breach or failure of the same term or condition or waiver of any other term or
condition of this agreement.  The failure of any party at any time to
require performance by any other party of any provision of this agreement shall
not affect the right of any such party to require future performance of such
provision or any other provision of agreement.

    

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Intentionally]

    
      
         

      

      
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    The
Agreement has been executed and delivered by the undersigned and is effective as
of the date set first set forth above.

    

    
      
        	
                Sincerely,

              
	 
      
	
                CHINA
      YONGXIN PHARMACEUTICALS INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Yongxin Liu

              
	 
      	
                 
      Yongxin Liu

              
	 
      	
                 
      Chief Executive Officer

              

      

    

    

    
      
        	
                AGREED
      AND ACCEPTED:

              
	 
      
	      
	
              

      

    

    
      
         

      

      
        5

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