Document:

1998 Director Option Plan, as amended.

 Exhibit 10.1 
 TIBCO SOFTWARE INC. 
 1998 DIRECTOR OPTION PLAN 
 (as amended and restated on February 27, 2006) 
 1. Purposes of the Plan. The purposes of this 1998 Director Option Plan are to attract and retain the best available personnel for service as Directors (as defined herein) of the Company, to provide additional
incentive to Directors of the Company to serve as Directors, and to encourage their continued service on the Board. 
 2. Definitions.
As used herein, the following definitions shall apply: 
 (a) “Administrator” means the Compensation
Committee that shall be administering the Plan in accordance with Section 4 hereof. 
 (b) “Applicable
Laws” means the requirements relating to the administration of stock option plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed
or quoted and the applicable laws of any foreign country or jurisdiction where Options are granted under the Plan. 
 (c)
“Board” means the Board of Directors of the Company. 
 (d) “Code” means the Internal
Revenue Code of 1986, as amended. 
 (e) “Common Stock” means the common stock of the Company. 
 (f) “Company” means TIBCO Software Inc., a Delaware corporation. 
 (g) “Compensation Committee” means a compensation committee appointed by the Board. 
 (h) “Director” means a member of the Board. 
 (i) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code. 
 (j) “Employee” means any person, including Directors, employed by the Company or Subsidiary of the Company. Neither
service as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute “employment” by the Company. 
 (k) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (l) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market or The Nasdaq 

 
SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were
reported) as quoted on such exchange or system for the last market trading day prior to the time of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value
shall be the mean between the high bid and low asked prices for the Common Stock on the last market trading day prior to the day of determination; or 
 (iii) In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by the Administrator. 
 (m) “Inside Director” means a Director who is an Employee. 
 (n) “Option” means a stock option granted pursuant to the Plan. 
 (o) “Option Agreement” means a written or electronic agreement between the Company and an Optionee evidencing the terms
and conditions of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 
 (p)
“Optioned Stock” means the Common Stock subject to an Option. 
 (q) “Optionee” means a
Director who holds an Option granted under the Plan. 
 (r) “Outside Director” means a Director who is not an
Employee. 
 (s) “Parent” means a “parent corporation,” whether now or hereafter existing, as
defined in Section 424(e) of the Code. 
 (t) “Plan” means this 1998 Director Option Plan. 

(u) “Share” means a share of the Common Stock, as adjusted in accordance with Section 11 below. 
 (v) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code. 
 3. Stock Subject to the Plan. Subject to the provisions of Section 11 of the Plan, the
maximum aggregate number of Shares which may be subject to Options and sold under the Plan is 4,475,000 Shares (the “Pool”). The Shares may be authorized but unissued, or reacquired Common Stock. 
 If an Option expires or becomes unexercisable without having been exercised in full, the unpurchased Shares which were subject thereto shall become
available for future grant or sale under the Plan (unless the Plan has terminated). However, Shares that have actually been issued 

  

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under the Plan, shall not be returned to the Plan and shall not become available for future distribution under the Plan. 
 4. Administration of the Plan. 
 (a) The Plan shall be administered by the Compensation Committee, which shall be constituted to comply with Applicable Laws. 
 (b) Powers of the Administrator. Subject to the provisions of the Plan and subject to the approval of any relevant authorities, the
Administrator shall have the authority in its discretion: 
 (i) to determine the Fair Market Value; 
 (ii) to select the Directors to whom Options may from time to time be granted hereunder; 
 (iii) to determine the number of Shares to be covered by an Option granted to a Director; 
 (iv) to approve forms of agreement for use under the Plan; 
 (v) to determine the terms and conditions, of any Option granted to a Director. Such terms and conditions include, but are not limited to,
the exercise price, the time or times when Options may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Option or the Common
Stock relating thereto, based in each case on such factors as the Administrator, in its sole discretion, shall determine; 
 (vi) to determine whether and under what circumstances an Option may be settled in cash under subsection 9(e) instead of Common Stock; 
 (vii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of qualifying for preferred tax treatment under
foreign tax laws; 
 (viii) to allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold
from the Shares to be issued upon exercise of an Option that number of Shares having a Fair Market Value equal to the amount required to be withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount
of tax to be withheld is to be determined. All elections by Optionees to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable; and 
 (ix) to construe and interpret the terms of the Plan and Options. 
  

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 (c) Effect of Administrator’s Decision. All decisions, determinations and
interpretations of the Administrator shall be final and binding on all Optionees. 
 (d) Procedure for Grants to Outside
Directors. Except as otherwise provided in Section 4, all grants of Options to Outside Directors under this Plan shall be automatic and nondiscretionary and shall be made strictly in accordance with the following provisions: 
 (i) No person shall have any discretion to select which Outside Directors shall be granted Options or to determine the number of Shares to
be covered by Options granted to Outside Directors; provided, however that any Outside Director may decline to receive an automatic Option grant hereunder by providing written notice to the Administrator prior to such automatic Option grant.

 (ii) Each Outside Director shall be automatically granted an Option to purchase 100,000 Shares (the “First
Option”) on the date on which such person first becomes an Outside Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy; provided, however, that an Inside Director who ceases to be
an Inside Director but who remains a Director shall not receive a First Option. 
 (iii) Each Outside Director shall be
automatically granted an Option to purchase 40,000 Shares (a “Subsequent Option”) on the date of the annual meeting of the shareholders of each year provided he or she is then an Outside Director and if as of such date, he or she shall
have served on the Board for at least the preceding six (6) months. 
 (iv) The terms of a First Option granted hereunder
shall be as follows: 
 (A) the term of the First Option shall be ten (10) years if granted prior to February 27,
2006, and the term of the First Option shall be seven (7) years if granted on or after February 27, 2006. 
 (B)
the First Option shall be exercisable only while the Outside Director remains a Director of the Company, except as set forth in Sections 9 and 11 hereof. 
 (C) unless otherwise determined by the Administrator, the exercise price per Share shall be 100% of the Fair Market Value per Share on the date of grant of the First Option. 
 (D) subject to Section 11 hereof, the First Option shall become exercisable as to one-third of the Shares subject to the First
Option on each anniversary of its date of grant, so that 100% of the First Option is exercisable after three years, provided that the Optionee continues to serve as a Director on such dates. 
  

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 (v) The terms of a Subsequent Option granted hereunder shall be as follows: 

(A) the term of the Subsequent Option shall be ten (10) years if granted prior to February 27, 2006, and the term of the
Subsequent Option shall be seven (7) years if granted on or after February 27, 2006. 
 (B) the Subsequent Option
shall be exercisable only while the Outside Director remains a Director of the Company, except as set forth in Sections 9 and 11 hereof. 
 (C) unless otherwise determined by the Administrator, the exercise price per Share shall be 100% of the Fair Market Value per Share on the date of grant of the Subsequent Option. 
 (D) subject to Section 11 hereof, the Subsequent Option shall become exercisable as to one-third of the Shares subject to the
Subsequent Option on each anniversary of its date of grant, so that 100% of the Subsequent Option is exercisable after three years, provided that the Optionee continues to serve as a Director on such dates. 
 (vi) In the event that any Option granted under the Plan would cause the number of Shares subject to outstanding Options plus the number
of Shares previously purchased under Options to exceed the Pool, then the remaining Shares available for Option grant shall be granted under Options to the Outside Directors on a pro rata basis. No further grants shall be made until such time, if
any, as additional Shares become available for grant under the Plan through action of the Compensation Committee or the stockholders to increase the number of Shares which may be issued under the Plan or through cancellation or expiration of Options
previously granted hereunder. 
 5. Eligibility. 
 (a) Options may be granted only to Directors. 
 (b) Neither the Plan nor any Option shall confer upon any Optionee any right with respect to continuation of service as a Director or
nomination to serve as a Director, nor shall it interfere in any way with any rights which the Director or the Company may have to terminate the Director’s relationship with the Company at any time. 
 6. Term of Plan. The amendment and restatement of the Plan shall become effective on February 27, 2006. It shall continue in effect for a
term of ten (10) years from the date of obtaining stockholder approval of the Plan in May, 1999, unless terminated earlier under Section 13 of the Plan. 
 7. Term of Option. The term of each Option granted to an Inside Director shall be stated in the Option Agreement; provided, however, that the term shall be no more than ten (10) years from the date of
grant thereof if granted prior to February 27, 2006, and the term shall be no more than seven (7) years from the date of grant thereof if granted on or after February 27, 2006. 
 8. Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be
determined by the Administrator. Such consideration may consist of (1) cash, (2) check, (3) promissory note, (4) other Shares which (x) in the case of Shares acquired upon exercise of an Option, have been owned by the
Optionee for more 

  

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than six months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares
as to which such Option shall be exercised, (5) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) any combination of the foregoing methods of payment. In
making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. 
 9. Exercise of Option. 
 (a) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder shall be exercisable according to the terms hereof at such times and under such conditions as determined by the Administrator and set forth in the
Option Agreement. Unless the Administrator provides otherwise, vesting of Options granted hereunder shall be tolled during any unpaid leave of absence. An Option may not be exercised for a fraction of a Share. 
 An Option shall be deemed exercised when the Company receives: (i) written or electronic notice of exercise (in accordance with the
Option Agreement) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised. Full payment may consist of any consideration and method of payment authorized by the
Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Optionee or, if requested by the Optionee, in the name of the Optionee and his or her spouse. Until the
Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the
Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to
the date the Shares are issued, except as provided in Section 11 of the Plan. 
 Exercise of an Option in any manner
shall result in a decrease in the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
 (b) Termination of Continuous Status as a Director. Subject to Section 11 hereof, in the event an Optionee’s status as a
Director terminates (other than upon the Optionee’s death or Disability), the Optionee may exercise his or her Option, but only within three (3) months following the date of such termination, and only to the extent that the Optionee was
entitled to exercise it on the date of such termination (but in no event later than the expiration of its term). To the extent that the Optionee was not entitled to exercise an Option on the date of such termination, and to the extent that the
Optionee does not exercise such Option (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
 (c) Disability of Optionee. In the event Optionee’s status as a Director terminates as a result of Disability, the Optionee may exercise his or her Option, but only within twelve (12) months following
the date of such termination, and only to the extent that the Optionee was entitled to exercise it on the date of such termination (but in no event later than the expiration of its term). 

  

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To the extent that the Optionee was not entitled to exercise an Option on the date of termination, or if he or she does not exercise such Option (to the
extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
 (d) Death of Optionee.
In the event of an Optionee’s death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance may exercise the Option, but only within twelve (12) months following the date of death,
and only to the extent that the Optionee was entitled to exercise it on the date of death (but in no event later than the expiration of its term). To the extent that the Optionee was not entitled to exercise an Option on the date of death, and to
the extent that the Optionee’s estate or a person who acquired the right to exercise such Option does not exercise such Option (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
 (e) Buyout Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares, an Option previously
granted, based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is made. 
 10. Non-Transferability of Options. Unless determined otherwise by the Administrator, Options may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by
the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee. If the Administrator makes an Option transferable, such Option shall contain such additional terms and conditions as the
Administrator deems appropriate. 
 11. Adjustments Upon Changes in Capitalization, Merger or Change of Control. 
 (a) Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of shares of Common
Stock covered by each outstanding Option, and the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Options have yet been granted or which have been returned to the Plan upon cancellation or
expiration of an Option, as well as the price per share of Common Stock covered by each such outstanding Option, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock
split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Company. The
conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Compensation Committee, whose determination in that respect shall be
final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be
made with respect to, the number or price of shares of Common Stock subject to an Option. 
 (b) Dissolution or
Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its
discretion may provide for an Optionee to have the right to exercise his or her Option until fifteen (15) days prior to 

  

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such transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option would not otherwise be exercisable. To the extent
it has not been previously exercised, an Option will terminate immediately prior to the consummation of such proposed action. 
 (c) Merger or Change of Control. In the event of a merger of the Company with or into another corporation or Change of Control (as defined below), each outstanding Option may be assumed or equivalent options may be substituted by the
successor corporation or a Parent or Subsidiary thereof (the “Successor Corporation”). If an Option is assumed or substituted for, the Option or equivalent option shall continue to be exercisable as provided in Section 4 hereof for so
long as the Optionee serves as a Director or a director of the Successor Corporation. If, in connection with a Change of Control, the Optionee’s status as a Director or director of the Successor Corporation, as applicable, is terminated other
than upon a voluntary resignation by the Optionee, the Option or equivalent option held by the Director on the date of termination shall become fully exercisable, including as to Shares for which it would not otherwise be exercisable. Thereafter,
the Option or equivalent option shall remain exercisable in accordance with Sections 9(b) through (d) above. 
 If the Successor
Corporation does not assume an outstanding Option or substitute for it an equivalent option, the Option shall become fully vested and exercisable, including as to Shares for which it would not otherwise be exercisable. In such event the Compensation
Committee shall notify the Optionee that the Option shall be fully exercisable for a period of thirty (30) days from the date of such notice, and upon the expiration of such period the Option shall terminate. 
 For the purposes of this Section 11(c), an Option shall be considered assumed if, following the merger or Change of Control, the Option confers the
right to purchase or receive, for each Share of Optioned Stock subject to the Option immediately prior to the merger or Change of Control, the consideration (whether stock, cash, or other securities or property) received in the merger or Change of
Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares). If such
consideration received in the merger or Change of Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon
the exercise of the Option, for each Share of Optioned Stock subject to the Option, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in
the merger or Change of Control. 
 For purposes of this Section 11(c), “Change of Control” means 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 Exchange Act) becomes
the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then
outstanding voting securities; 
 (ii) The consummation of the sale or disposition by the Company of all or substantially all
of the Company’s assets; 
  

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 (iii) A change in the composition of the Board occurring within a two-year period, as a
result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of February 27, 2006, or (B) are elected, or nominated for election, to
the Board with the affirmative votes of at least a majority of the Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or threatened proxy contest
relating to the election of directors to the Company); or 
 (iv) The consummation of a merger or consolidation of the Company
with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into
voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger
or consolidation. 
 12. Time of Granting Options. The date of grant of an Option shall, for all purposes, be the date on which the
Administrator makes the determination granting such Option, or such other date as is determined by the Administrator. Notice of the determination shall be given to each Director to whom an Option is so granted within a reasonable time after the date
of such grant. 
 13. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Compensation Committee may at any time amend, alter, suspend or terminate the Plan. 

(b) Stockholder Approval. The Compensation Committee shall obtain stockholder approval of any Plan amendment to the extent
necessary and desirable to comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment,
alteration, suspension or termination of the Plan shall impair the rights of any Optionee, unless mutually agreed otherwise between the Optionee and the Administrator, which agreement must be in writing and signed by the Optionee and the Company.
Termination of the Plan shall not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Options granted under the Plan prior to the date of such termination. 
 14. Conditions Upon Issuance of Shares. 
 (a) Legal Compliance. Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance and delivery of such Shares shall comply with Applicable Laws and shall
be further subject to the approval of counsel for the Company with respect to such compliance. 
 (b) Investment
Representations. As a condition to the exercise of an Option, the Administrator may require the person exercising such Option to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and
without any present 

  

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intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required. 
 15. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
shall not have been obtained. 
 16. Reservation of Shares. The Company, during the term of this Plan, shall at all times reserve and
keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 
  

 -10-Reorganization Agreement

 Exhibit 10.1 
 ACQUISITION AND REORGANIZATION AGREEMENT 
 BETWEEN 
 VCAMPUS CORPORATION 
 AND

 PROSOFT LEARNING CORPORATION AND COMPUTERPREP, INC. 
 April 11, 2006 

 ACQUISITION AND REORGANIZATION AGREEMENT 
 This Acquisition and Reorganization Agreement (the “Agreement”) made this 11th day of April, 2006, by and between Prosoft Learning Corporation, a Nevada corporation (“PLC”), and its Subsidiary (as defined herein),
ComputerPREP, Inc., a Delaware corporation (“CP”), both of whose addresses are 410 N. 44 Street, Suite 600, Phoenix, Arizona 85008 (PLC and CP, collectively, “Prosoft”), and VCampus Corporation, a Delaware
corporation, whose address is 1850 Centennial Park Drive, Suite 200, Reston, Virginia 20191 (“VCampus”). 
 WHEREAS, Prosoft
plans to file a voluntary petition for reorganization under Chapter 11 of Title 11 of the United States Code in the immediate future; and 
 WHEREAS, subject to approval by the Bankruptcy Court, VCampus desires to acquire by itself or through one of its affiliates, all of the newly issued and outstanding capital stock of Reorganized Prosoft on the Closing Date, as defined below;
and 
 WHEREAS, VCampus and Prosoft desire to enter into this Agreement to set forth more fully certain terms and conditions of the
reorganization of Prosoft (the “Reorganization”); and 
 WHEREAS, the parties hereto desire to set forth herein certain
representations, warranties and covenants made by each to the other, as an inducement to the consummation of the Reorganization, and certain additional agreements relating thereto; 
 NOW, THEREFORE, for valuable consideration, including the mutual representations, warranties and covenants herein contained, the receipt and sufficiency
of which are hereby acknowledged, the parties hereby agree as follows: 
 DEFINITIONS 
 “Acquired Assets” has the meaning set forth in Section 1.2 hereof. 
 “Actual Working Capital” has the meaning set forth in Section 2.3 hereof. 
 “Adjusted Current Assets” are current assets defined in GAAP less cash retained by Prosoft (it being understood that all cash and cash
equivalents are retained by Prosoft but, if the parties negotiate for Reorganized Prosoft to retain any cash, such included cash will increase Adjusted Current Assets on a dollar-for-dollar basis) and less 70% of any accounts receivable (as defined
by GAAP) over 90 days old and less 100% of any accounts receivable which to the knowledge of Prosoft are not collectible or are subject to a defense, counterclaim or offset. Any accounts receivable excluded from the definition of Adjusted Current
Assets as provided above shall nonetheless be a part of the assets retained by Reorganized Prosoft and VCampus and/or Reorganized Prosoft shall be entitled to retain any cash collected thereon without adjustment to the Working Capital. 

“Adjusted Current Liabilities” are current liabilities defined by GAAP which VCampus specifically agrees to retain within Reorganized
Prosoft, which shall specifically exclude the current portion of Prosoft’s long-term liabilities. 
 “Alternative
Transaction” has the meaning set forth in Section 3.3.3 hereof. 
 “Amortized Note” has the meaning set forth
in Section 2.2.2 hereof. 
 “Auditor” has the meaning set forth in Section 2.3 hereof. 
 “Balloon Note” has the meaning set forth in Section 2.2.2 hereof. 
 “Bankruptcy Code” means Title 11 of the United States Code, sections 101 through 1532. 
  

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 “Bankruptcy Court” means the United States Bankruptcy Court for the District of Arizona,
with jurisdiction over the Chapter 11 Case. 
 “Breach” has the meaning set forth in Section 2.4 hereof. 
 “Business Day” means any day (other than Saturday or Sunday) upon which commercial banks in Arizona are open for business. 

“Chapter 11 Case” means, collectively, the cases under Chapter 11 of the Bankruptcy Code in which PLC and CP are the debtors and
debtors-in-possession pending before the Bankruptcy Court, including all adversary proceedings in connection therewith. 
 “Closing” means the completion of the transactions to occur on or shortly after the Effective Date as provided herein. 
 “Closing Balance Sheet” has the meaning set forth in Section 2.3 hereof. 
 “Closing Date”
has the meaning set forth in Section 3.4 hereof. 
 “Confirmation Date” means the date upon which the Bankruptcy Court
enters its order confirming the Plan. 
 “Confirmation Order” means the order of the Bankruptcy Court confirming the Plan in
accordance with the Bankruptcy Code and this Agreement. 
 “Disclosure Statement” means the written disclosure statement
that relates to the Plan, as approved by the Bankruptcy Court pursuant to Section 1125 of the Bankruptcy Code and Bankruptcy Rule 3017, as such disclosure statement may be amended, modified or supplemented from time to time. 
 “Distributions” has the meaning set forth in Section 3.2(e) hereof. 
 “Effective Date” means the last to occur of (a) the first Business Day that is at least eleven (11) days after the
Confirmation Date and on which no stay of the Confirmation Order is in effect and no appeal of the Confirmation Order has been made, and (b) the Business Day on which all of the conditions set forth in Article VI of the Plan have been satisfied
or waived. 
 “Employee Benefit Plan” means any (a) nonqualified deferred compensation or retirement plan or
arrangement, (b) qualified defined contribution retirement plan or arrangement, (c) qualified defined benefit retirement plan or arrangement, or (d) 401K plan. 
 “Estimated Working Capital” has the meaning set forth in Section 2.3 hereof. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended and the regulations promulgated thereunder. 
 “Excluded Assets” has the meaning set forth in Section 1.2 hereof. 
 “Executory Contracts” has the meaning set forth in Section 1.3 hereof. 
 “Existing Capital Stock” has the meaning set forth in Section 4.1 hereof. 
 “Financial Statements” has the meaning set forth in Section 5.1.6 hereof. 
  

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 “GAAP” means United States generally accepted accounting principles as used by the
Financial Accounting Standards Board of the American Institute of Certified Public Accountants, consistently applied and maintained. 
 “Intellectual Property” means all (a) inventions, patents, patent applications, patent disclosures, and improvements thereto, (b) trademarks, service marks, trade dress, logos, trade names, corporate names,
website addresses and domain names, all derivative names relating thereto and registrations and applications for registration thereof, (c) copyrights and registrations and applications for registration thereof, (d) mask works and
registrations and applications for registration thereof, (e) computer software, data, documentation, (f) trade secrets and confidential business information (including ideas, formulas, compositions, inventions (whether patentable or
unpatentable and whether or not reduced to practice), know-how, manufacturing and production processes and techniques, research and development information, drawings, specifications, designs, plans, proposals, technical data, e-learning content,
copyrightable works, marketing, and business data, pricing and cost information, business and marketing plans, and customer and supplier lists and information), (g) other proprietary rights, and (h) copies and tangible embodiments thereof
(in whatever form or medium). 
 “Leases” has the meaning set forth in Section 1.3 hereof. 
 “Liquidating Trust” means the Liquidating Trust of the Chapter 11 Estate of Prosoft Learning Corporation, as defined in the Plan.

 “New Common Stock” has the meaning set forth in Section 2.1 hereof. 
 “Ordinary Course of Business” means the ordinary course of business of the business of Prosoft consistent with past practice (including,
without limitation, with respect to collection of accounts receivable, purchases of inventory and supplies, repairs and maintenance, payment of accounts payable and accrued expenses, levels of capital expenditures and operation of cash management
practices generally). 
 “Other Employee Benefit” means any health or other medical plan or insurance, life insurance,
disability insurance or other material fringe benefit that Prosoft, as of the date of this Agreement, generally makes available to its employees, other than an Employee Benefit Plan, as further defined in Section 2.5 and identified on Schedule
2.5. 
 “Personal Property Leases” has the meaning set forth in Section 1.3 hereof. 
 “Petition Date” means the date the Petition Pleadings are filed. 
 “Petition Pleadings” means all Chapter 11 petitions and any and all other documents necessary to commence the Chapter 11 Case.

 “Person” means any natural person, business entity, organization or association. 
 “Plan” means the Plan of Reorganization related to the Chapter 11 Case, either as filed with the Bankruptcy Court or as it may be
amended, supplemented or modified from time to time, including all exhibits and schedules annexed thereto or referenced therein and/or in the supplement thereto which is filed with the Bankruptcy Court and which contains exhibits thereto.

 “Plan Related Documents” means, collectively, the Plan, the Disclosure Statement, this Agreement, and any other related
documents, including the agreement establishing the Liquidating Trust. 
 “Prosoft” as set forth above means, collectively,
PLC and CP. To the extent, however, that this Agreement uses the term Prosoft in a context applicable to a point in time following the Closing, Prosoft shall mean the Chapter 11 estates of PLC and CP and/or the Liquidating Trust, as appropriate.

 “Purchase Price” has the meaning set forth in Section 2.1 hereof. 
  

 4 

 “Real Property Leases” has the meaning set forth in Section 1.3 hereof. 

“Reorganized Prosoft” means Prosoft Learning Corporation, a Nevada corporation, and all of its existing Subsidiaries on and after the
Effective Date. 
 “Retained Liabilities” has the meaning set forth in Section 1.4 hereof. 
 “Secured Note Holders” shall mean DKR SoundShore Oasis Holding Fund Ltd., a company organized under the laws of Bermuda, DKR SoundShore
Strategic Holding Fund Ltd., a company organized under the laws of Bermuda, and Hunt Capital Growth Fund II, L.P., a Delaware limited partnership. 
 “Set Off Claim” has the meaning set forth in Section 2.4 hereof. 
 “Subsidiary” means any
corporation of which the securities having a majority of the ordinary voting power in electing directors are, at the time of determination, owned by Prosoft directly or through another Subsidiary. A list of the Subsidiaries of Prosoft is attached
hereto as Exhibit A. 
 “Tax” means all federal, state, local, or foreign income, gross receipts, capital stock,
franchise, profits, withholding, social security, unemployment, disability, real property, personal property, stamp, excise, occupation, sales, use, transfer, value added, alternative minimum, estimated, or other taxes, including any interest,
penalty, or additional charge thereto, whether disputed or not. 
 “Unassumed Liabilities” has the meaning set forth in
Section 1.4 hereof. 
 “Wait List Liabilities” has the meaning set forth in Section 2.3 hereof. 
 “Working Capital” is defined to be Adjusted Current Assets minus Adjusted Current Liabilities. 
 “Working Capital Surplus” has the meaning set forth in Section 2.3 hereof. 
 In addition to the foregoing definitions, capitalized terms used herein but not defined herein shall have the respective meanings provided in the Plan.

 ARTICLE I 
 TERMS OF
REORGANIZATION 
 1.1 General. The parties to this Agreement have agreed to the Reorganization of Prosoft which shall be
implemented by Prosoft commencing the Chapter 11 Case wherein, among other things, VCampus will acquire 100% of the New Common Stock (as defined below) of Reorganized Prosoft. Specifically, Prosoft shall file the Petition Pleadings and shall
propound a pre-negotiated Plan, in the form of Exhibit B attached hereto, or in such other form as shall be mutually agreeable to Prosoft and VCampus. 
 1.2 Acquired Assets. Subject to and upon the terms and conditions set forth herein, Prosoft and VCampus agree that Reorganized Prosoft shall retain all the assets of Prosoft, other than the assets specifically
excluded as set forth in Section 1.7 hereof (the “Excluded Assets”), as same shall exist on the Closing Date, as hereinafter defined (collectively, the “Acquired Assets”), including but not limited to: 
 1.2.1 (a) All machinery, appliances, equipment, computers and peripherals, tools, supplies, leasehold improvements, construction in progress,
furniture and fixtures owned by Prosoft, (b) tangible personal property including, but without limitation, inventories and supplies, (c) account balances and accounts receivable, (d) originals of all books, records, ledgers, files,
documents, correspondence, customer lists, creative materials, advertising and promotional materials, causes of action, telephone and fax numbers, e-mail and internet addresses; and (e) all software and all contents in all computer discs, CD
Roms, DVDs and hard drives. 
  

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 1.2.2 All goods, materials, work-in-process, inventory and equipment owned by Prosoft. 
 1.2.3 Customer lists and related information. 
 1.2.4 All of Prosoft’s right, title and interest in and to any other assets located at its facilities and/or relating to the facilities and the business conducted thereat. 
 1.2.5 All of Prosoft’s right, title, and interest in and to, the Intellectual Property, including, but not limited to, the assets listed on Schedule
1.2.5, including goodwill associated therewith, licenses and sublicenses granted and obtained with respect thereto, and rights thereunder, remedies against infringements thereof, and rights to protection of interests therein under the laws of all
jurisdictions; 
 1.2.6 All cooperative advertising credits and market development funds (whether accrued or receivable). 
 1.2.7 All licenses, permits, certificates, franchises, consents, waivers, registrations or other regulatory authorizations issued to Prosoft or any of
its Subsidiaries by state or local governmental authority. 
 1.2.8 All stock or other equity securities of the Subsidiaries and all
corporate records, minute books, corporate seals and related items with respect to such Subsidiaries, except those Subsidiaries identified on Schedule 1.2.8. 
 1.2.9 All warranties, guaranties, security agreements and other collateral in respect of the Acquired Assets. 
 1.2.10 All deposits and prepayments received by Prosoft under any of the Leases and/or Executory Contracts. 
 1.3 Assumed and
Assigned Leases and Executory Contracts. Prosoft shall forthwith take all actions in the Chapter 11 Case necessary to seek an order from the Bankruptcy Court authorizing it to assume for Reorganized Prosoft all of Prosoft’s right, title and
interest in: 
 (a) except for those items that are set forth in Schedule 1.3A, all leases or rental or occupancy agreements of real
property under which Prosoft is lessee or occupant (subject to amendments, the terms of which shall be disclosed as necessary and appropriate in the Chapter 11 Case) (the “Real Property Leases”); 
 (b) except for those items that are set forth in Schedule 1.3B, all leases of personal property under which Prosoft is lessee (the “Personal
Property Leases” which together with the Real Property Leases shall be referred to herein as the “Leases”); and 
 (c) except
for those items that are set forth in Schedule 1.3C, all contracts, agreements, employment agreements, purchase orders and similar arrangements (the “Executory Contracts”). 
 1.4 Unassumed Liabilities. VCampus and Prosoft agree that the Plan and Plan Related Documents shall provide for the assignment to and assumption
by the Liquidating Trust of all obligations and liabilities of Prosoft (the “Unassumed Liabilities”) other than the following obligations and liabilities that shall be specifically accepted, assumed and retained by Reorganized Prosoft:
(i) those liabilities and obligations as specifically identified on the Closing Balance Sheet; (ii) prospective liabilities under the Leases and Executory Contracts as of the date of the Closing; (iii) any cure amounts due under
Section 365 of the Bankruptcy Code for the Leases and Executory Contracts (iv) obligations of Prosoft with respect to inventory ordered by Prosoft in the Ordinary Course of Business, but not yet received by Prosoft as of the date of the
Closing; (v) the current portion of employee compensation, withholdings, and Other Employee Benefits incurred in the Ordinary Course of Business, including but not limited to accrued salary and vacation for both contract and at will employees
(and specifically excluding any Employee Benefit Plan liabilities); (vi) the current portion of liabilities owed to governmental entities for taxes or other similar obligations and (vii) any Wait-List Liabilities (as defined in
Section 2.3(d)) assumed post-Closing 

  

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by Reorganized Prosoft pursuant to Section 2.3 (the liabilities and obligations set forth in Section 1.4(i) through 1.4(vii) shall be referred to
collectively as the “Retained Liabilities”). Prosoft and VCampus anticipate that the Retained Liabilities, with the exception of those described in subparagraph (ii), above, will be accounted for as part of the calculation of Working
Capital. Set forth in Schedule 1.4 is a list of the liabilities described in subsections (i) and (iv), above, and the amounts of such liabilities as of the date represented on Schedule 1.4, which amounts are subject to change in the Ordinary
Course of Business through the Closing Date. 
 1.5 Taxes and Prorations. Prosoft and VCampus anticipate that all taxes and prorations
will be accounted for as part of the calculation of Working Capital. For the avoidance of any doubt, except for any Retained Liabilities that are addressed in the Working Capital calculation, Prosoft shall be responsible for all ad valorem taxes or
assessments relating to the Acquired Assets for taxable periods up to and including the Closing Date, regardless of when the same shall become due and payable, and such taxes shall be pro-rated between Prosoft and VCampus on and as of the Closing
Date or within a reasonable time thereafter. VCampus shall pay directly to the appropriate entity its pro-rata share. All expense items including but not limited to insurance, rents, utility charges, and any prepaid agreements shall be prorated
between Prosoft and VCampus as of the Closing Date. The rents for periods prior to Closing for the Real Property Leases will be prorated as of the Closing Date, and VCampus shall reimburse Prosoft for VCampus’ pro rata share as to rent paid in
advance. In the case of rent paid in arrears, Prosoft shall pay VCampus for the pro-rated period up to the Closing. To the extent not paid at Closing, VCampus shall have the right to offset any amounts which are the responsibility of Prosoft as
provided in Section 2.4. 
 1.6 Expenses. Prosoft and VCampus shall each remain liable for their own closing expenses, including
attorney’s fees. 
 1.7 Excluded Assets. Anything to the contrary in Sections 1.1 through 1.6 notwithstanding, the Acquired
Assets retained by Reorganized Prosoft shall exclude: 
 1.7.1 All cash, bank deposits and/or cash equivalents of Prosoft and its
Subsidiaries (except for any non-U.S. domiciled cash, bank accounts and/or cash equivalents held by Prosoft or any of its Subsidiaries); 
 1.7.2 Claims for relief under any of the avoiding powers provided for under Chapter 5 of the Bankruptcy Code and the Notes; 
 1.7.3
Any Employee Benefit Plan of Prosoft; 
 1.7.4 Any leases or contracts specifically set forth on Schedules 1.3A, 1.3B and 1.3C; 

1.7.5 Any rights of Prosoft under this Agreement; 
 1.7.6 Any stock or other equity securities of the Subsidiaries listed on Schedule 1.2.8, and all corporate records, minute books, corporate seals and related items with respect to such Subsidiaries; 
 1.7.7 Any tax attributes of Prosoft; and 
 1.7.8 Any other assets identified and excluded by VCampus at least three days prior to the Closing. 
  

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 ARTICLE II 
 PURCHASE PRICE 
 2.1 Purchase Price. Subject to adjustments as provided in Section 2.3,
at Closing and subject to the terms of the Plan, the purchase price due from VCampus to Prosoft for the acquisition of 100% of the newly issued and outstanding common stock of Reorganized Prosoft (the “New Common Stock”) shall be Two
Million Three Hundred Thousand and No/100 Dollars ($2,300,000) (the “Purchase Price”). At the Closing, Reorganized Prosoft shall issue, and VCampus (or its designated Affiliate) shall receive, the New Common Stock. 
 2.2 Payment. The Purchase Price shall be paid at Closing by VCampus to Prosoft as follows: 
 2.2.1 $2,000,000 in cash, certified funds or wire transfer at Closing to the bank account(s) designated by Prosoft; and 
 2.2.2 $300,000 of the Purchase Price shall be paid in the form of two 6% promissory notes, one due and payable in one balloon payment on July 1,
2007 in the form of note attached hereto as Exhibit 2.2.2A (the “Balloon Note”) and the other note due and payable in six equal monthly installments of principal and interest beginning on January 1, 2007 in the form of note attached
hereto as Exhibit 2.2.2B (the “Amortized Note,” and together with the Balloon Note, the “Notes”). 
 2.3 Purchase
Price Adjustments. 
 (a) The Purchase Price shall be subject to adjustments, on a dollar-for-dollar basis, to the extent Prosoft’s
Working Capital at Closing is greater or less than zero. For the avoidance of doubt, any balance sheet liabilities assumed by Reorganized Prosoft or VCampus hereunder will reduce Working Capital by the amount of the liabilities assumed. Subject to
Bankruptcy Court approval, all transaction expenses, including all fees and expenses payable to East Wind Advisors, incurred by Prosoft in connection with the Closing shall be paid out from either: (1) Prosoft’s cash at or prior to
Closing, to the extent available, with the resulting adjustment to Working Capital; or (2) the cash portion of the Purchase Price. The Purchase Price shall also be subject to a downward adjustment of $200,000 to the extent that the PTJ
Transaction referenced in Section 5.1.12.8 hereof is consummated prior to the Closing Date. 
 (b) Immediately prior to Closing, Prosoft
will prepare and deliver to VCampus a closing balance sheet prepared in accordance with GAAP (the “Closing Balance Sheet”) that includes its good faith estimate (“Estimated Working Capital”) of Working Capital at Closing in a
manner consistent with this Agreement. The Closing Balance Sheet must be in sufficient detail for VCampus to reasonably be able to verify and agree with Prosoft’s calculations. If this Working Capital number is less than zero, then the cash
portion of the Purchase Price will be reduced by the amount less than zero. If this Working Capital number is greater than zero, then the cash portion of the Purchase Price will be increased by the amount greater than zero. 
 (c) Within 60 calendar days of Closing, VCampus will provide to Prosoft an audited closing balance sheet calculating the actual Working Capital at
Closing (the “Actual Working Capital”). If Prosoft believes the Actual Working Capital determined by VCampus is inaccurate, then Prosoft shall within 30 days notify VCampus of its belief and set forth in reasonable detail the alleged
inaccuracy or the items disputed (including its calculation of the Actual Working Capital). If Prosoft does not so notify VCampus within the 30-day period, then the Actual Working Capital number determined by VCampus shall be deemed final and
binding on the parties. If Prosoft does so notify VCampus, then VCampus and Prosoft shall attempt in good faith to resolve such dispute for 20 days from the notice date. If the parties are unable to resolve any disputed item during such 20-day
period, such disputed item(s) shall be submitted to a nationally recognized accounting firm mutually acceptable to the parties (the “Auditor”), which shall be instructed to arbitrate such disputed item(s) and determine the Actual Working
Capital within 40 days of their engagement by the parties. The resolution of the disputes by the Auditor so selected shall be set forth in writing and shall be conclusive and binding upon and non-appealable by the parties. The Auditor’s fees
and expenses shall be the responsibility of the party whose calculation of the Actual Working Capital number is farthest from the Actual 

  

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Working Capital number as determined by the Auditor. During the period of any dispute with respect to the Actual Working Capital, VCampus shall provide
Prosoft full access to the books, records and facilities of the business, and shall cooperate with Prosoft to the extent reasonably requested by Prosoft to investigate the basis for such dispute. 
 (d) If Actual Working Capital less the Estimated Working Capital is less than zero by $5,000 or more, then the principal balance of the Balloon Note will
be immediately reduced by the amount less than zero. If Actual Working Capital less the Estimated Working Capital is greater than zero by $5,000 or more (a “Working Capital Surplus”), then such Working Capital Surplus shall be offset, on a
dollar-for-dollar basis, first by VCampus’ assumption of an equal amount of unassumed Prosoft liabilities (as selected by VCampus from the pre-approved list of such liabilities designated by VCampus on Schedule 2.3(d) (the “Wait-List
Liabilities”), and to the extent any Working Capital Surplus remains after such offset, then such remaining surplus shall be applied as an increase to the principal balance of the Balloon Note. Any adjustment to the principal balance of the
Balloon Note shall be deemed to be an increase or decrease in principal as of the date of Closing for purposes of calculating interest. Prior to completion of the post-closing audit, Prosoft shall be free to negotiate satisfaction and settlement of
any Unassumed Liabilities (including any Wait-List Liabilities not assumed by Reorganized Prosoft or VCampus). 
 (e) If the absolute value
of the difference between Actual Working Capital less the Estimated Working Capital is $5,000 or less, then no adjustment will be made to the principal balance of the Balloon Note or otherwise. 
 2.4 VCampus’ Right of Set Off. Notwithstanding any other provision of this Agreement, if Prosoft shall breach the terms of this Agreement,
including any breach of the representations, warranties and covenants of Prosoft contained herein (a “Breach”), from and after the Closing the terms of this Section 2.4 shall provide the sole remedy of VCampus. Should a Breach occur,
VCampus shall be entitled to set off and deduct the amount of its damages and expenses resulting from such Breach (including, without limitation, attorneys fees) from its financial obligations under the Notes; provided, however, that VCampus must
give Prosoft prior notice of its intent to set off or deduct (a “Set Off Claim”), which Set Off Claim shall be made, if at all, no later than one-hundred twenty (120) days after the Closing; and provided further that any set off or
deduction shall be effected first against the Balloon Note, and then against the latest payment(s) due under the Amortized Note. Should VCampus assert a Set Off Claim, Prosoft shall notify VCampus within ten (10) Business Days if it disputes
the Set Off Claim. If the parties cannot reach an agreement regarding the disputed Set Off Claim within thirty (30) days after Prosoft notifies VCampus that it disputes the Set Off Claim, either party may submit such disputed Set Off Claim to
the Bankruptcy Court for resolution as a contested matter under the Bankruptcy Code. Should a payment under the Notes that is subject to the disputed Set Off Claim come due prior to resolution of the disputed Set Off Claim, VCampus shall make such
payment when and as otherwise due into an interest-bearing escrow account, to be held pending further written agreement between VCampus and Prosoft, or a final, non-appealable order of the Bankruptcy Court directing disposition of the payment.

 2.5 Employment of Prosoft’s Personnel. Set forth on Schedule 2.5 is a true, correct and complete list of all employees of
Prosoft, with their name, address, title, salary and benefits to which they were entitled to receive from Prosoft prior to or upon Closing, which list also identifies any employment agreement applicable to each such employee, and also lists Other
Employee Benefits offered by Prosoft as of the date of this Agreement. Prosoft will use reasonable efforts to persuade its employees to make themselves available for continued employment by Reorganized Prosoft. VCampus shall use reasonable efforts
to interview and review said current employees of Prosoft prior to the Closing Date; provided, however, continued employment of Prosoft’s personnel by Reorganized Prosoft shall be in the sole discretion of VCampus in the exercise of its
business judgment. It is not the intent of this Section 2.5 to make Prosoft’s employees third party beneficiaries of this Agreement. It is understood by the parties, however, that any employee of Prosoft whose employment is continued by
Reorganized Prosoft following the Closing will receive credit for their time of employment with Prosoft for the purpose of determining employee benefit eligibility and vesting under any Employee Benefit Plan of Reorganized Prosoft or VCampus in
which such employee is entitled to participate. Reorganized Prosoft or VCampus shall maintain, or provide substantially similar substitutes for, the Other Employee Benefits listed on Schedule 2.5. VCampus covenants that it will have established a
401K plan for the employees of Reorganized Prosoft on and after the Closing, the terms of which shall be reasonably equivalent to those available to similarly situated employees of VCampus. 
  

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 ARTICLE III 
 BANKRUPTCY COURT APPROVAL; CLOSING 
 3.1 Filings with Bankruptcy Court; Plan of
Reorganization. Promptly after the execution of this Agreement, but in no event later than four (4) Business Days after the date of this Agreement, Prosoft shall commence the Chapter 11 Case and file with the Bankruptcy Court the proposed
Plan and Plan Related Documents, including the forms of any and all documents required to be filed as schedules and exhibits thereto, so as to expedite confirmation of the Plan. The Plan and the Plan Related Documents, including schedules and
exhibits thereto, shall be in form and substance reasonably satisfactory in all respects to VCampus. 
 3.2 Actions with Respect to the
Plan. Prosoft shall: 
 (a) Make all filings with applicable governmental authorities as may be required by applicable law; 

(b) File with the Bankruptcy Court the Plan and Plan Related Documents in the Chapter 11 Case under the Bankruptcy Code, and file the appropriate
pleadings to obtain hearing dates for the approval of the Disclosure Statement and confirmation of the Plan in each case as promptly as possible; 
 (c) Request the earliest practicable date for consideration and approval of the Disclosure Statement, and time for acceptance or rejection of the Plan by impaired creditors; 
 (d) Use its reasonable efforts to obtain confirmation of the Plan as promptly as practicable following the Petition Date, with only such changes or
modifications thereto as are acceptable to VCampus (which such acceptance shall not be unreasonably withheld), and proceed diligently to obtain the dismissal of all appeals, applications and motions for reconsideration with respect to the Disclosure
Statement, Plan, the Confirmation Order, and any other order or ruling affecting the confirmation of the Plan, as promptly as practicable; 
 (e) Subject to the terms and conditions of the confirmed Plan, use its reasonable efforts to cause the distributions to be made as contemplated by the confirmed Plan (the “Distributions”) as promptly as practicable following the
Effective Date; 
 (f) Request that the Bankruptcy Court approve this Agreement 
 (g) Use its reasonable efforts to obtain the Bankruptcy Court’s approval of the provisions of Section 3.3 and 8.10 of this Agreement no later
than the time that the Bankruptcy Court approves the Disclosure Statement and procedures for solicitation of impaired creditors; provided, however, that the failure of Prosoft to obtain such approval despite reasonable efforts shall not give rise to
a right of VCampus to terminate this Agreement, or for a termination fee pursuant to Section 8.10 hereof; and 
 (h) Consult with
VCampus and its counsel on all material aspects of Prosoft’s participation in the Chapter 11 Case, including the preparation of the Plan and Plan Related Documents and all other matters described in this Article III. 
 Each of VCampus and Prosoft shall use its reasonable efforts to obtain confirmation of the Plan in accordance with the Bankruptcy Code and on terms
consistent with this Agreement. Consistent with its fiduciary duty, Prosoft shall take all necessary and appropriate actions to achieve confirmation of the Plan. 
 3.3 No Shop; Alternative Transactions. 
 3.3.1 Prosoft agrees that during the period commencing on
the date hereof and ending on the earlier of the Closing Date or the termination of this Agreement, except as otherwise specifically permitted by Section 3.3.2, neither Prosoft nor any of its officers, directors, employees, agents,
representatives or affiliates 

  

 10 

 
(including any investment banker or financial advisor retained by Prosoft) will directly or indirectly solicit or initiate discussions or negotiations with
any Person concerning an Alternative Transaction. 
 3.3.2 Notwithstanding the foregoing, Prosoft and its financial and legal advisors may
furnish information to, or enter into discussions with, any Person that makes an inquiry or proposal for a Alternative Transaction that was not solicited by Prosoft from and after the date of this Agreement. 
 3.3.3 For purposes of this Agreement, “Alternative Transaction” means a proposal for any of the following (other than the transactions
contemplated by this Agreement): (a) any merger, reorganization, consolidation, share exchange, recapitalization, business combination, liquidation, dissolution, or other similar transaction involving, or, any sale, lease, exchange, mortgage,
pledge, transfer or other disposition of, all or any significant portion of the business or assets or 25% or more of the equity securities, of Prosoft (whether through bankruptcy or otherwise); (b) any tender offer or exchange offer for 50% or
more of the outstanding shares of capital stock of Prosoft or the filing of a registration statement under the Securities Act in connection therewith; or (c) any public announcement of a proposal, plan or intention to do any of the foregoing or
any agreement to engage in any of the foregoing. 
 3.3.4 Prosoft will notify VCampus as promptly as practicable following the receipt of any
Alternative Transaction. Such notice to VCampus shall be made orally and in writing, and shall include the identity of the Person proposing the Alternative Transaction and a general description or summary of the terms of such Alternative
Transaction. To the extent possible, Prosoft shall require that any non-disclosure agreement it enters into with a Person that has proposed or may propose an Alternative Transaction allows Prosoft’s compliance with the requirements of this
Section 3.3.4. VCampus agrees that it will, to the extent necessary to facilitate Prosoft’s compliance with this Section 3.3.4, enter into such reasonable non-disclosure agreement as may be required by a Person that has proposed or
may propose an Alternative Transaction. 
 3.3.5 Prosoft shall immediately cease and cause to be terminated any pre-existing discussions with
any Person (other than VCampus) that relates to any Alternative Transaction. 
 3.3.6 Prosoft and VCampus shall issue a joint press release
upon the filing of the Petition Pleadings. Both Prosoft and VCampus shall reasonably agree upon the content of any such press release. 
 3.4
Closing. The Closing shall occur on or before the date (the “Closing Date”) that is the earlier of the following: (i) so long as the Effective Date has occurred, then on or before three (3) Business Days following the date
upon which the respective conditions to the parties’ obligations to close under Section 6.1 hereof have been satisfied or waived; or (ii) if such conditions have been satisfied or waived prior to the Effective Date, then on or before
three (3) Business Days following the Effective Date. All computations, adjustments, and transfers for the purposes herein shall be effective as of 12:01 a.m. on the Closing Date. Time is of the essence under this Agreement. Subject to the
terms and conditions of this Agreement and the Plan, on the Closing Date: (a) VCampus shall provide to Prosoft the Purchase Price for the New Common Stock to be acquired by VCampus pursuant to Section 2.1 hereof, (b) VCampus shall
receive the New Common Stock from Reorganized Prosoft; and (c) a notice of effectiveness of the Plan shall be filed and served. After the Closing, the Distributions shall be made in accordance with the Plan as promptly as practicable. The
Closing shall take place at the offices of VCampus’ counsel Gallagher & Kennedy, P.A., 2575 E. Camelback Road, Phoenix, Arizona 85016, or by facsimile and overnight courier for the convenience of the parties. 
 3.5 Closing Documents and Deliveries. At the Closing, and thereafter if requested by VCampus, Reorganized Prosoft shall deliver to VCampus the
following items: 
 3.5.1 Duly executed certificates evidencing all of the New Common Stock to be issued to VCampus or its designee pursuant
to Section 2.1; 
 3.5.2 The Plan and Confirmation Order, which order shall be certified by the clerk of the Bankruptcy Court;

  

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 3.5.3 A certificate of good standing for Prosoft issued by the appropriate authority of the State of
Nevada no more than thirty (30) days prior to Closing; 
 3.5.4 A closing certificate signed by the president of Prosoft attesting that,
to the best of his knowledge, information and belief, as of the Closing: (i) the representations and warranties of Prosoft contained herein continue to be true and complete in all material respects (or, to the extent any of the same are not
true and complete in any material respect, specifying how the same is not true and complete); and, (ii) that any covenant of Prosoft contained herein, that by its terms is to have been performed as of the Closing, has been performed (or, to the
extent any of the same have not been performed in any material respect, specifying how the same remains unperformed); 
 3.5.5 Resignations
of the corporate officers and directors of Prosoft; 
 3.5.6 A list of all the Acquired Assets being retained by Reorganized Prosoft.

 3.5.7 Such other documents as may be reasonably requested by VCampus in connection with the transactions contemplated hereby. However,
Prosoft may retain and use copies of any and all records it deems reasonably necessary to resolve and complete the Chapter 11 Case. 
 ARTICLE IV 
 EFFECTS OF THE REORGANIZATION 
 4.1 Cancellation of Existing Capital Stock. As of the Closing Date, any interest in Prosoft represented by any class or series of common or
preferred stock outstanding before the Closing Date (collectively, the “Existing Capital Stock”), and any warrants, options or other rights to purchase any Existing Capital Stock shall be cancelled and terminated. The holders of the
Existing Capital Stock (or rights to acquire Existing Capital Stock) shall not receive any equity or other interest in Reorganized Prosoft and shall not receive any other consideration in exchange for the Existing Capital Stock (or rights to acquire
Existing Capital Stock). 
 4.2 Certificate of Incorporation and Bylaws. As of the Closing Date and without any further action by the
stockholders or directors of Prosoft or Reorganized Prosoft, Prosoft’s certificate of incorporation and bylaws shall be amended and restated in form and substance reasonably satisfactory to VCampus, the terms of which shall provide for, among
other things, the authorization of all acts necessary to implement the Plan including, without limitation, the issuance of the New Common Stock. 
 4.3 Public Company Status. Prosoft is currently a public company, registered under Section 12 of the Exchange Act, and its common stock is presently traded on the Nasdaq OTC Bulletin Board under the symbol POSO.OB. Prior to, on
or immediately after the Effective Date, Prosoft will take any and all steps it considers reasonable and necessary to revoke and/or cancel its prior registration under Section 12 of the Exchange Act. As of the Closing, Reorganized Prosoft will
not be a public company and will not be registered under Section 12 of the Exchange Act or any other provision of federal or state securities law. 
 4.4 Substantive Consolidation; Rollup. Pursuant to the Plan and Confirmation Order, and as of the Closing Date: (i) the assets and liabilities of PLC and CP shall be substantively consolidated; and, (ii)
the stock or equity securities of CP shall be cancelled and terminated. 
 ARTICLE V 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 5.1 Representations, Warranties and Covenants of Prosoft. In addition to any warranties, representations and covenants otherwise contained herein, Prosoft also represents, warrants and covenants to VCampus as of the date hereof, as
applicable, and as of the Closing, as follows (all representations, warranties and 

  

 12 

 
covenants shall survive Closing, but shall terminate upon the expiration of the right of VCampus to assert a Set Off Claim pursuant to Section 2.4
hereof): 
 5.1.1 Title. Prosoft owns, and has good and marketable title to, the Acquired Assets to be retained by Reorganized Prosoft
pursuant to this Agreement, and subject to the terms of the Plan, on the Closing Date Reorganized Prosoft will have good and marketable title to all of such assets free and clear of all liens. 
 5.1.2 Leased Assets. Prosoft is the lessee of the Leases. Prosoft is not in default under any of the Leases, which default cannot and will not be
cured pursuant to Section 365 of the Bankruptcy Code under the Plan, and Prosoft is not aware of any circumstance or event that, through the passage of time or otherwise, will constitute a default thereunder following Closing. 
 5.1.3 Intellectual Property. 
 5.1.3.1 To the best of Prosoft’s knowledge, information and belief, Prosoft has title to or has the right to use pursuant to license, sublicense, agreement or permission all Intellectual Property necessary for the operation of the
businesses of Prosoft and its Subsidiaries as presently conducted and as presently proposed to be conducted. Each item of Intellectual Property owned or used by Prosoft immediately prior to the Closing hereunder will be owned or available for use by
Reorganized Prosoft on identical terms and conditions immediately subsequent to the Closing hereunder. 
 5.1.3.2 Prosoft has no knowledge
that Prosoft or any of its Subsidiaries has interfered with, infringed upon, misappropriated or otherwise come into conflict with any Intellectual Property rights of third parties, and none of the employees with responsibility for Intellectual
Property matters of Prosoft or any of its Subsidiaries has ever received any charge, complaint, claim or notice alleging any such interference, infringement, misappropriation, or violation. To the knowledge of Prosoft and employees with
responsibility for Intellectual Property matters of Prosoft, no third party has interfered with, infringed upon, misappropriated, or otherwise come into conflict with any Intellectual Property rights of Prosoft. 
 5.1.4 Real Property Leases. Prosoft has delivered to VCampus correct and complete copies of all Real Property Leases, including any amendments
thereto, other than those listed in Schedule 1.3A. With respect to each of the Real Property Leases other than those listed on Schedule 1.3A, Prosoft warrants that: 
 5.1.4.1 The lease is legal, valid, binding, enforceable and has not been terminated. 
 5.1.4.2 Subject to
satisfying the requirements of the Bankruptcy Code, including but not limited to Section 365 thereof, the lease will continue to be legal, valid, binding, enforceable and will not be terminated as of the Closing. 
 5.1.4.3 Neither Prosoft nor any of its Subsidiaries has assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the
leasehold. 
 5.1.4.4 To the best of Prosoft’s knowledge, information and belief, all facilities leased thereunder have received all
approvals of governmental authorities (including licenses and permits) required in connection with the operation thereof and have been operated and maintained in accordance with applicable laws, rules and regulations. 
 5.1.5 No Violations. Prosoft has no knowledge that Prosoft or any of its Subsidiaries is in violation of any law or regulation, or under any order
of any court or federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality wherever located. Prosoft has no knowledge of any (1) claims, actions, suits or proceedings instituted or filed
and, (2) any claims, actions, suits or proceedings threatened presently or which in the future may be threatened by any federal, state, municipal or other governmental department, commission, board, court, bureau, agency or instrumentality
wherever located against or involving Prosoft or any of its Subsidiaries. The execution and the delivery of this Agreement and the consummation of the transactions contemplated hereby, will not violate any statute, regulation, rule, judgment, order,
decree, stipulation, 

  

 13 

 
injunction, charge or other restriction of any government, governmental agency, or court to which Prosoft or any of its Subsidiaries is subject or any
provision of its charter or bylaws. To the best of Prosoft’s knowledge, except for the Confirmation Order, Prosoft and its Subsidiaries do not need to give any notice to, make any filing with, or obtain any authorization, consent, or approval
of any government or governmental agency in order for the parties to consummate the transactions contemplated by this Agreement. 
 5.1.6
Financial Statements. Prosoft has provided VCampus with the following financial statements (collectively, the “Financial Statements”): (i) audited balance sheet and statement of income and cash flow as of and for the fiscal
years ended July 31, 2004 and July 31, 2005 for Prosoft (the “Most Recent Audited Financial Statements”); and (ii) unaudited balance sheet and statement of income and cash flow (the “Most Recent Financial
Statements”) as of and for the quarters ended October 31, 2005 and January 1, 2006 (the “Most Recent Unaudited Financial Statement”) and for the monthly periods thereafter to the Closing (“Monthly Financial
Statements”), said Most Recent Unaudited Financial Statements and Monthly Financial Statements being materially correct, subject to usual and customary year end adjustments. The Most Recent Audited Financial Statements have been prepared in
accordance with GAAP, fairly present in all material respects the financial condition, results of operations and cash flows of Prosoft as of, and for, the periods presented. 
 5.1.7 Events Subsequent to Most Recent Fiscal Year End. Since the Most Recent Unaudited Financial Statements, there has not been any material
adverse change in the assets, liabilities, business, financial condition, operations, results of operations or future prospects of Prosoft or its Subsidiaries, as a whole. 
 5.1.8 Present Status. Since the Most Recent Monthly Financial Statement, neither Prosoft nor any of its Subsidiaries has sold or transferred any
material assets except sales from inventory in the ordinary course of business, suffered any damage, destruction, or loss (whether or not covered by insurance) materially affecting its properties, business or prospects; waived any rights of
substantial value; nor entered into any transaction other than in the Ordinary Course of Business. 
 5.1.9 Tax Returns. Prosoft and
each of its Subsidiaries has filed all state, federal and local tax returns that have been required to be filed and timely paid all taxes required to be paid by it and its Subsidiaries prior to Closing, including, without limitation, all payroll and
employment related taxes. 
 5.1.10 Customers. Set forth on Schedule 5.1.10 hereto is a true, accurate, current and complete list of
all of Prosoft’s customers and clients for the past year. 
 5.1.11 Full Disclosure. Neither (a) the Disclosure Statement as
initially filed by Prosoft in the Chapter 11 Case, nor (b) any further or amended Disclosure Statement, as of the date filed with the Bankruptcy Court, nor (c) the final Disclosure Statement in the form distributed to creditors of Prosoft
in connection with confirmation of the Plan, as of the date so distributed and as of the Closing Date, nor (d) this Agreement nor any document contemplated hereby or thereby or furnished by or on behalf of Prosoft to VCampus in connection with
the negotiation and the sale of the New Common Stock, as of the date filed and as of the Closing Date, will: 
 (i) contain
any untrue statement of a material fact or will omit to state any material fact necessary to make the statements contained therein or herein, in light of the circumstances under which they were made, not misleading, or 
 (ii) fail to comply with the requirements of Section 1125(e) of the Bankruptcy Code. 
 5.1.12 Operations Until Closing. Between the date of this Agreement and the Closing Date, Prosoft shall (and, as applicable, shall cause each of
its Subsidiaries to): 
 5.1.12.1 Operate in the Ordinary Course of Business, including the securing and providing of funding necessary to
sustain operations at the current level. In the event that Prosoft determines in its reasonable judgment that it does not have the working capital to continue to operate in the Ordinary Course of Business, then Prosoft shall immediately notify
VCampus of such determination; 
  

 14 

 5.1.12.2 Use Prosoft’s best efforts to maintain the Acquired Assets in as good working order and
condition as at present, ordinary wear and tear excepted; 
 5.1.12.3 Use Prosoft’s best efforts to preserve Prosoft’s business
and preserve Prosoft’s present relationships with suppliers, customers and others having business relationships with Prosoft; 
 5.1.12.4 Keep in full force and effect until Closing present insurance policies or other comparable insurance coverage; 
 5.1.12.5
Cause to be paid when due all taxes, license fees, trade accounts and costs of expenses of operation and maintenance of the Acquired Assets incurred through Closing; 
 5.1.12.6 Not, without VCampus’ prior written consent, enter into any material contracts or obligations (other than normal customer contracts in the Ordinary Course of Business); provided, however, that Prosoft
shall be entitled to continue ordering inventory in the Ordinary Course of Business; 
 5.1.12.7 Not, without VCampus’ prior written
consent, materially modify, amend, cancel or terminate any of its existing contracts or agreements; 
 5.1.12.8 Not sell, assign, lease or
otherwise transfer or dispose of any of the Acquired Assets except in the Ordinary Course of Business; provided, however, that VCampus consents to Prosoft’s sale prior to the Closing Date of certain intellectual property to Prosoft Training
Japan, Inc., a Japanese corporation, as set forth in the “Letter of Intent—Copyright and Licensing Transfer Agreement” (the “PTJ Transaction”), and subject to the Purchase Price Adjustment provided therefor in
Section 2.3(a). 
 5.1.12.9 Not enter into any employment contracts which are not terminable at will; and 
 5.1.12.10 Not settle for less than full payment any Retained Liabilities (or other liabilities arising between the date hereof and the Closing Date,
which VCampus may elect to include as an additional Retained Liability at Closing) in excess of $2,500 individually or $10,000 in the aggregate, without the prior written consent of VCampus. 
 5.1.12.11 Not directly or indirectly do or permit to occur any of the following: (a) issue, sell, pledge, dispose of or encumber any additional
shares of, or any options, warrants, conversion privileges or rights of any kind to acquire any shares of, any of the Existing Capital Stock; (b) amend or propose to amend its certificate of incorporation; (c) split, combine or reclassify
any outstanding shares of Existing Capital Stock, or declare, set aside or pay any dividend or other distribution payable in cash, stock, property or otherwise with respect to shares of Existing Capital Stock; (d) redeem, purchase or acquire or
offer to acquire any shares of Existing Capital Stock; (e) acquire (by merger, exchange, consolidation, acquisition of stock or assets or otherwise) any corporation, partnership, joint venture or other business organization or division or
material assets thereof; (f) incur any indebtedness for borrowed money or issue any debt securities, other than debtor-in-possession financing secured by Prosoft in order to maintain its Ordinary Course of Business operations; or (g) enter
into or propose to enter into, or modify or propose to modify, any agreement, arrangement or understanding with respect to any of the foregoing. 
 5.1.12.12 Notification to VCampus. Between the date of this Agreement and the Closing Date, Prosoft will promptly notify VCampus in writing if Prosoft or one of its Subsidiaries becomes aware of: (a) any fact or condition that
causes or constitutes a breach of any of Prosoft’s covenants as of the date of this Agreement; (b) the occurrence after the date of this Agreement of any fact or condition that would (except as expressly contemplated by this Agreement)
cause or constitute a breach of any such covenant had such covenant been made as of the time of occurrence or discovery of such fact or condition, or (c) any event that would render any representation or warranty of Prosoft contained in this
Agreement, if made on or as of the date of the event or the Closing, untrue or inaccurate in any material respect. 
 5.1.12.13 Customer
Notices. Prosoft and VCampus may prepare a joint notice or letter to be sent by Prosoft at VCampus’ expenses to each of Prosoft’s customers of the transaction contemplated herein. 

  

 15 

 
Until Closing, Prosoft is not obligated or required to provide VCampus the name, address and phone number of any of its customers or clients. 
 5.1.13 Capitalization. Immediately following the Closing, the only shares of capital stock of Reorganized Prosoft which shall be issued and
outstanding or reserved for issuance shall be the New Common Stock to be issued to VCampus pursuant to Section 2.1 hereof, which shares, when issued in accordance with this Agreement and the Plan, shall be duly and validly issued and shall be
fully paid and nonassessable. Immediately following the Closing, there shall not be any subscriptions, options, warrants, calls, rights, convertible securities or other agreements or commitments of any character obligating Reorganized Prosoft to
issue, transfer or sell any of its securities, nor will there be any rights to receive dividends or other distributions with respect to any such securities. Immediately following the Closing, the only shares of capital stock of the Subsidiaries
which shall be issued and outstanding or reserved for issuance shall be the shares of capital stock held by Reorganized Prosoft. Immediately following the Closing, there shall not be any subscriptions, options, warrants, calls, rights, convertible
securities or other agreements or commitments of any character obligating Reorganized Prosoft or its Subsidiaries to issue, transfer or sell any of its Subsidiaries securities, nor will there be any rights or dividends or other distributions with
respect to any such securities. 
 5.1.14 Organizational Representations and Warranties of Prosoft. Prosoft represents and warrants as
follows: 
 5.1.14.1 Prosoft is a corporation validly existing and in good standing under the laws of the State of Nevada and each of its
Subsidiaries is a corporation validly existing and in good standing under the laws of its respective jurisdiction of organization. 
 5.1.14.2 The execution and delivery of this agreement by Prosoft has been duly authorized by proper corporate approval and on the Closing Date, Prosoft will have all necessary power and authority to consummate the transactions provided
herein. The Board of Directors of Prosoft has approved the commencement of the Chapter 11 Case as provided herein. 
 5.1.14.3 The officers
whose signatures are affixed hereto have the necessary corporate power and authority to bind Prosoft. 
 5.1.15 Access to Records.
Pursuant to and under the terms and conditions of the Non-Disclosure Agreement between Prosoft and VCampus, Prosoft will afford VCampus access, during normal business hours, to all its businesses operations, properties, books, files, and records,
and will cooperate in VCampus’ examination thereof. No such examination, however, shall constitute a waiver or relinquishment by VCampus of its right to rely upon Prosoft’s covenants, representations, and warranties as made herein or
pursuant hereto. Until the Closing, VCampus will hold in confidence all information so obtained, except as hereinafter provided. 
 5.1.16
Financial Reports. Prosoft’s financial statements filed with the SEC and provided to VCampus and Prosoft’s Tax Returns for the fiscal years ended July 31, 2004, copies of which have been furnished to VCampus by Prosoft prior to
the execution of this Agreement, fairly represent the financial position of Prosoft as of their dates, and as of the date hereof. 
 5.1.17
Environmental Matters. To Prosoft’s knowledge, the properties, assets and operations of Prosoft and its Subsidiaries are in compliance in all material respects with all applicable federal, state, local and foreign laws, permits and
licenses relating to public and worker health and safety and to the protection and clean-up of the natural environment and activities or conditions related thereto, including, without limitation, those relating to the generation, handling, disposal,
transportation or release of hazardous materials (“Environmental Laws”), other than any such failure to be in compliance as would not, singly or in the aggregate, reasonably be expected to have a material adverse effect on the Purchased
Assets or Prosoft’s business. The term “hazardous materials” shall mean those substances that are regulated by or form the basis for liabilities under any applicable Environmental Laws. To Prosoft’s knowledge, Prosoft is not the
subject of any federal, state, local or foreign investigation, and Prosoft has not received any notice or claim relating to any material liability or remedial action or potential material liability or remedial action under Environmental Laws.

  

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 5.1.19 Officers and Directors. The corporate officers and directors serving Prosoft immediately
before the Closing Date shall have resigned or be terminated without cause as of the Closing Date. 
 5.1.20 ERISA Plans. Except as
set forth in Schedule 5.1.20, neither Prosoft nor any of its Subsidiaries is a party to or participant in any Employee Benefit Plan and any liabilities of Prosoft under any such plan now or heretofore in effect are fully funded or otherwise
adequately provided for. 
 5.2 Representations and Warranties of VCampus. 
 5.2.1 VCampus is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 
 5.2.2 The execution and delivery of this agreement by VCampus has been duly authorized by proper corporate action, and on the Closing Date, VCampus will
have all necessary authority to consummate the transactions provided herein. The officer(s), whose signatures are affixed hereto, have been duly authorized by VCampus to execute this Agreement and they have the necessary corporate power and
authority to bind VCampus. 
 5.2.3 Neither the execution and delivery of this Agreement by VCampus nor the consummation by VCampus of the
transactions contemplated hereby, (i) requires the authorization, consent, or approval of any third person, including any governmental authority (other than the Bankruptcy Court), (ii) will conflict with or result in a breach or violation
of, or default under, any material agreement of other material instrument or obligation to which VCampus is a party or by which any of VCampus’ assets or properties are bound, or (iii) violate any judgment, order, injunction, decree, rule
or regulation applicable to VCampus or any of VCampus’ assets or properties. 
 5.2.4 As of the execution of this Agreement and until
Closing, (i) VCampus has and will maintain financial capability and good faith intent to fulfill all of the terms and conditions of this Agreement on a timely basis; (ii) VCampus can establish adequate assurance of future performance of
the Retained Liabilities and Assumed Contracts, as required by the Bankruptcy Code; (iii) VCampus’ ability to comply with subsections (i) and (ii) is not subject to any financing contingency; and (iv) the Agreement is as of
the date hereof, and both this Agreement and the Notes will be as of Closing, valid obligations of and enforceable against VCampus, subject to bankruptcy laws and similar laws affecting the rights of creditors generally. 
 5.2.5 As of Closing, Reorganized Prosoft or VCampus shall maintain, or provide substantially similar substitutes for, the Other Employee Benefits listed
on Schedule 2.5. VCampus also will have established a 401K plan for the employees of Reorganized Prosoft on and after the Closing, the terms of which shall be reasonably equivalent to those available to similarly situated employees of VCampus.

 5.2.6 As of the date of execution of the Non-Disclosure Agreement between Prosoft and VCampus through Closing, VCampus has and will
continue to comply with all terms, conditions and restrictions of the Non-Disclosure Agreement. 
 5.2.7 Between the date of this Agreement
and the Closing Date, VCampus will promptly notify Prosoft in writing if VCampus becomes aware of: (a) any fact or condition that causes or constitutes a material breach of any of VCampus’ covenants as of the date of this Agreement;
(b) the occurrence after the date of this Agreement of any fact or condition that would (except as expressly contemplated by this Agreement) cause or constitute a material breach of any such covenant had such covenant been made as of the time
of occurrence or discovery of such fact or condition, or (c) any event that would render any representation or warranty of VCampus contained in this Agreement, if made on or as of the date of the event or the Closing, untrue or inaccurate in
any material respect. 
  

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 ARTICLE VI 
 CONDITIONS TO OBLIGATION TO CLOSE 
 6.1 Conditions to Obligation to Close. 
 6.1.1 Conditions to Obligation of VCampus. The obligation of VCampus to consummate the transactions to be performed by it in connection with the
Closing are subject to the following conditions: 
 6.1.1.1 Proceedings Relating to the Chapter 11 Case. As of 90 days following the
Petition Date, (i) the Bankruptcy Court shall have confirmed the Plan (including any amendments or modifications thereto) which shall be in form and substance acceptable to VCampus, (ii) the Confirmation Order shall be in form and
substance acceptable to VCampus, (iii) the Confirmation Order shall not be subject to a stay, (iv) no appeal of the Confirmation Order shall be pending, and (v) with respect to such Confirmation Order, all appeals periods shall have
expired. Should any of the foregoing not have occurred as of 90 days following the Petition Date, and so long as the failure of such condition is not due to a breach of this Agreement by VCampus, VCampus shall have the option, in its sole
discretion, to waive this condition. If VCampus elects to waive this condition, Prosoft shall continue to exercise its best efforts to satisfy such condition by such later date as VCampus shall specify. The failure of the foregoing condition to be
met as and when required by this paragraph shall not give rise to a claim by VCampus to a termination fee under Section 8.10 hereof, so long as the cause of such failure is or was not reasonably within the control of Prosoft. 
 6.1.1.2 Injunction. There must not be in effect any legal requirement or any injunction or other order that prohibits or restrains VCampus’
acquisition of the New Common Stock or the consummation of the Agreement or which had or could reasonably have a material adverse effect on Reorganized Prosoft or the Acquired Assets. The purchase of the New Common Stock by VCampus hereunder shall
not be prohibited by any applicable law or regulation, shall not subject VCampus to any penalty, liability or other condition reasonably unacceptable to VCampus and shall be permitted by law and regulations of the jurisdictions to which VCampus is
or will at Closing be subject. 
 6.1.1.3 Additional Agreements. Prosoft shall have delivered to VCampus on the Closing Date the
documents and agreements specified in Section 3.5. 
 6.1.1.4 The Reorganization Plan. A Confirmation Order and any other orders
by the Bankruptcy Court necessary to confirm the Plan or implement the Confirmation Order and approve the Plan Related Documents, any documents related hereto and the transactions contemplated hereby shall be entered, each of which order or orders
shall be a final order reasonably acceptable in form and substance to VCampus and its counsel in all material respects, such orders shall not be subject to any stay, no appeal of such orders shall be pending and all appeals periods with respect to
such orders shall have expired. The Plan Related Documents and all other documents shall be in the form reasonably approved by VCampus for filing by Prosoft, with such modifications or amendments as are consistent with this Agreement and the Plan
and are reasonably acceptable in form and substance to VCampus. The Plan shall provide for the satisfaction or extinguishment of all claims against Prosoft in a manner reasonably satisfactory to VCampus. 
 6.1.1.5 Consent of Third Parties. All consents by third parties that are required to permit the transactions contemplated hereby and by the Plan
shall have been obtained. 
 6.1.1.6 Prosoft’s Representations. The representations and warranties of Prosoft set forth herein
shall be true and correct when made and at and as of the Closing Date. 
 6.1.1.7 Prosoft’s Covenants. Prosoft shall have
performed and complied with all of its covenants hereunder in all material respects through the Closing. Prosoft shall not be in default of its obligations under this Agreement or any of the Plan Related Documents. 
 6.1.1.8 No Disposition of Material Assets. Prosoft and VCampus shall have reinspected the Acquired Assets and VCampus shall be satisfied that
Prosoft has not sold, assigned, leased or 

  

 18 

 
otherwise transferred or disposed of any material portion of the Acquired Assets (or assets of Prosoft’s Subsidiaries), except in the Ordinary Course of
Business and that sales of courses and related materials have been substantially consistent with Prosoft’s prior operations. 
 6.1.1.9
No Material Adverse Changes. There shall not have been any material adverse change affecting Prosoft or the Acquired Assets or the going concern value of Prosoft’s business. 
 The foregoing conditions contained in this Section 6.1.1 are intended solely for the benefit of VCampus. VCampus shall at all times have the right to waive any condition. All waivers given by VCampus under this
Section 6.1.1 shall be in writing. The waiver by VCampus of any condition shall not relieve any other party of any liability or obligation with respect to any representation, warranty, covenant or agreement set forth herein. 
 6.1.2 Conditions to Obligations of Prosoft. The obligations of Prosoft and Reorganized Prosoft to consummate the transactions to be performed by
it in connection with the Closing is subject to satisfaction of the following conditions: 
 6.1.2.1 VCampus’ Representations.
The representations and warranties of VCampus set forth herein shall be true and correct when made and at and as of the Closing Date; 
 6.1.2.2 VCampus’ Covenants. VCampus shall have performed and complied with all of its covenants hereunder in all material respects through the Closing. VCampus shall have provided the consideration for the New Common Stock to be
acquired by VCampus pursuant to Section 2.1 and Section 2.2. 
 6.1.2.3 Approval by the Bankruptcy Court. A
Confirmation Order and any other orders by the Bankruptcy Court necessary to confirm the Plan and approve this Agreement, any documents related thereto and the transactions contemplated hereby shall be entered. 
 The foregoing conditions contained in this Section 6.1.2 are intended solely for the benefit of Prosoft and Reorganized Prosoft. Prosoft and Reorganized Prosoft
shall at all times have the right to waive any condition. All waivers given by Prosoft or Reorganized Prosoft under this Section 6.1.2 shall be in writing. The waiver by Prosoft or Reorganized Prosoft of any condition shall not relieve any
other party of any liability or obligation with respect to any representation, warranty, covenant or agreement set forth herein. 
 ARTICLE
VII 
 ADDITIONAL PROVISIONS 
 7.1 Default. 
 7.1.1 VCampus’ Remedies. In the event that a default under this Agreement occurs prior to
Closing, VCampus must, before taking any other action, give a written notice to Prosoft of such a default. Prosoft will then have ten (10) Business Days from receipt of notice in which to cure said default. In addition to any termination fee,
VCampus may, upon default by Prosoft, seek specific performance and/or any remedy available at law or equity. All remedies hereunder are cumulative and non-exclusive of any other remedies. 
 7.1.2 Prosoft’s Remedies. In the event all conditions and contingencies contained herein shall be met and VCampus shall fail to purchase the
New Common Stock as provided herein (other than for a reason as set forth in Section 8.10.3), Prosoft may seek specific performance and/or any remedy available at law or equity; provided, however, that in no case shall Prosoft’s remedies
hereunder include an award of monetary damages against VCampus the amount of which exceeds $2,300,000, less any portion of the Purchase Price that actually has been paid. All remedies hereunder are cumulative and non-exclusive of any other remedies.

 7.2 Continued Inspection. Subject to the terms, conditions and restrictions of the existing Non-Disclosure Agreement between
Prosoft and VCampus, VCampus has the right to examine the Acquired Assets, 

  

 19 

 
excluding the customer list, after acceptance of this contract by Prosoft. This right to examine the Acquired Assets shall continue until Closing.
VCampus’ right to examine shall be during normal business hours, or as otherwise arranged and shall not unreasonably interfere with the operation of Prosoft’s business. Upon request of VCampus, Prosoft shall provide for VCampus’
review of copies of all leases, agreements or other documents relating to Prosoft’s business. 
 7.3 Best Efforts. Upon the terms
and subject to the conditions herein provided, each of the parties hereto agrees to use their respective best, good faith 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 hereto in doing, all things necessary, proper or advisable under applicable laws and regulations to ensure that the conditions set forth in this Agreement are satisfied and to consummate and make effective, in the most expeditious manner
practicable, the transactions contemplated by this Agreement. Without limiting the generality of the foregoing, the parties hereto shall furnish to each other such necessary information and reasonable assistance, as each may request in connection
with Prosoft’s preparation and filing of the Plan and the Disclosure Statement and the Related Plan Documents, in form and substance reasonably satisfactory to VCampus, needed to obtain Bankruptcy Court approval of the transactions contemplated
by this Agreement and shall execute any additional instruments necessary to consummate the transactions contemplated hereby, whether before or after the Closing. 
 7.4 Disclosure Supplements. From time to time prior to the Closing, Prosoft shall supplement the Schedules hereto with respect to any matter hereafter arising or any information obtained after the date hereof
of which, if existing, occurring or known at or prior to the date of this Agreement, would have been required to be set forth or described in the Schedules, or which is necessary to complete or correct any information in such schedule or in any
representation and warranty of Prosoft which has been rendered inaccurate thereby. For purposes of determining the satisfaction of the conditions set forth in Section 6.1.1 hereof, no such supplement or amendment shall be considered.

 ARTICLE VIII 
 MISCELLANEOUS PROVISIONS 
 8.1 Risk of Loss. The risk of loss prior to the Closing Date shall be with Prosoft. In the
event a material percentage of Acquired Assets or a material percentage of operations of Prosoft shall have been damaged adversely or affected in any material way as a result of any strike, accident or other casualty or act of God or the public
enemy, or any judicial, administrative or governmental proceeding at such time as Prosoft proposed to close, then VCampus shall have the options of either (i) prorating the Purchase Price to adjust for the loss (with consent of Prosoft); or
(ii) proceeding to close with an assignment of any insurance proceeds which may be paid to reflect such loss or damage, or (iii) terminating this Agreement. 
 8.2 Severability. If any provision of this Agreement is prohibited by the laws of any jurisdiction as those laws apply to this Agreement, that provision is ineffective to the extent of such prohibition and/or
is modified to conform with such laws, without invalidating the remaining provisions hereto; and any such prohibition in any jurisdiction shall not invalidate such provision in any other jurisdiction. 
 8.3 Choice of Law. This Agreement shall be governed by the internal laws of the State of Delaware and, to the extent applicable, the Bankruptcy
Code. 
 8.4 Entire Agreement; Modification. This Agreement embodies the entire agreement and understanding of the parties hereto and
supersedes any and all prior agreements, arrangements and understandings relating to the matters provided for herein. No modification, alteration, waiver, amendment, change or supplement hereto shall be binding or effective unless the same is set
forth in writing signed by a duly authorized representative of each party to this Agreement. 
 8.5 Survival and Binding Agreement.
The terms and conditions hereof shall survive the Closing and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal representatives, successors and assigns. 
  

 20 

 8.6 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. 
 8.7 Assignment. Neither party to
this Agreement may assign any of its rights or delegate any of its responsibilities under this Agreement, except that VCampus may assign this Agreement to any wholly owned Subsidiary of VCampus or an affiliate of VCampus, or to any person or entity
that succeeds to all or substantially all of the business of VCampus through a purchase of assets, merger or otherwise. 
 8.8
Notices. All notices, requests, demands, claims and other communications hereunder will be in writing. Any notice, request, demand, claim, or other communication hereunder shall be deemed duly given if (and then two Business Days after) it is
sent by personal delivery, by overnight carrier, or by facsimile transaction, as follows: 
  

			
	 If to Prosoft:
	  	    Copy to:
		
	 Prosoft LearningCorporation
 410 N. 44th Street, Suite 600
 Phoenix, Arizona 85008
 Fax No.: (602) 794-4178
	  	 Snell & Wilmer, L.L.P.
 One Arizona
Center
 400 E. Van Buren
 Phoenix, AZ 85004-2202
 Steven D. Jerome, Esq.
 Fax No.: (602) 382-6070

		
	 If to VCampus:
	  	     Copy to:

		
	 VCampus Corporation
 1850 Centennial Park Drive
 Suite 200
 Reston, Virginia 20191
 Attn: Christopher L. Nelson, CFO
 Fax No.: (703) 654-7319
	  	 Maupin Taylor, P.A.
 Post Office Box 19764
 Raleigh, North Carolina 27619-9764
 Attn: Kevin A. Prakke, Esq.
 Fax No.: (919) 981-4300

 8.9 Termination. In addition to the rights of the parties to terminate this Agreement as
set forth elsewhere herein, this Agreement may be terminated: 
 8.9.1 At any time prior to the Closing Date, by the mutual agreement of
Prosoft and VCampus. 
 8.9.2 At any time prior to the Closing Date by VCampus, and subject to the “notice and cure” provisions
contained in Section 7.1.2 herein, if Prosoft is in breach of any of its representations, warranties or covenants set forth herein. 
 8.9.3 At any time prior to the Closing Date by Prosoft, subject to giving notice of breach to VCampus and expiration of a 10-business-day cure period, if VCampus is and remains in breach of any of its representations, warranties or
covenants set forth herein. 
 8.9.4 At any time prior to the Closing Date by VCampus pursuant to Section 6.1.1.1. 
 8.9.5 By either Prosoft or VCampus, if any of the conditions to such party’s obligation to consummate the transactions contemplated in this
Agreement shall have become impossible to satisfy, except to the extent that such impossibility arises out of or results from actions of the party seeking to terminate pursuant to this Section 8.9.5. 
  

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 8.9.6 By Prosoft in connection with entering into a definitive agreement for an Alternative Transaction,
provided Prosoft has complied with all provisions in Section 3.3. 
 No termination pursuant to Sections 8.9.2, 8.9.3, 8.9.4 or 8.9.5
shall relieve any breaching party of its obligations or liabilities to the non-breaching party for damages sustained as a result of the breach. Termination of this Agreement shall not limit VCampus’ right to a termination fee as provided in
Section 8.10, except as limited in Section 6.1.1.1. 
 8.10 Termination Fee. 
 8.10.1 If this Agreement is terminated by Prosoft pursuant to Section 8.9.6 hereof or if a competing plan of reorganization supported by a party
other than VCampus is confirmed by the Bankruptcy Court, and VCampus has not breached any of its obligations under this Agreement in any respect, then Prosoft shall pay to VCampus a single termination fee of $69,000, payable upon consummation of the
Alternative Transaction or confirmation of the competing plan, as applicable. 
 8.10.2 Prosoft shall pay, or cause to be paid, to VCampus a
single termination fee in the amount of $69,000, in the event that: (i) Prosoft fails for any reason which is reasonably within Prosoft’s control, other than a breach of the Agreement by VCampus, to close the Transaction (subject to the
provisions of Section 6.1.1.1); or (ii) VCampus determines not to close the Transaction based upon either (x) a material breach of this Agreement by Prosoft that is reasonably within Prosoft’s control and that has or is
reasonably likely to have a material adverse effect on the Acquired Assets or going concern value of Prosoft’s business; or (y) the failure of any of the conditions set forth in Sections 6.1.1.5 (but only to the extent that the lack of
consent is of the Secured Noteholders), and 6.1.1.6 through 6.1.1.8, which failure is reasonably in Prosoft’s control. 
 8.10.3 If:
(i) this Agreement is terminated by Prosoft other than due to a default by VCampus under this Agreement which is not cured, and (ii) on or before one-hundred eighty (180) days following the termination of this Agreement, Prosoft
closes an Alternative Transaction with a party other than VCampus, then, at the time any such Alternative Transaction is consummated, Prosoft will pay to VCampus, in cash, a termination fee in the amount of $69,000 (unless a termination fee has
already been paid to VCampus by Prosoft). The parties agree that the sums payable pursuant to this Section 8.10.3 shall constitute reimbursement of expenses incurred in connection with the contemplated Reorganization and loss of opportunity,
and not penalties. The parties further acknowledge that (a) the amounts of loss or damages likely to be incurred is incapable or is difficult to precisely estimate, (b) the amounts specified herein bear a reasonable proportion and are not
plainly or grossly disproportionate to the probable loss likely to be incurred by VCampus in connection with a sale of Prosoft’s business to a third party in the manner described in this Section 8.10.3, and (c) the parties are
sophisticated business parties and have been represented by sophisticated and able legal and financial counsel and negotiated this Agreement at arms’ length. 
 8.10.4 The termination fee payable pursuant to Section 8.10.1, 8.10.2 or 8.10.3 is only due and payable once and under no circumstances is VCampus entitled to more than one termination fee whether or not multiple
circumstances giving rise to a termination fee occur under one or more of Section 8.10.1, 8.10.2 or 8.10.3. Any termination fee payable pursuant to Section 8.10.1, 8.10.2 or 8.10.3 shall be paid by Prosoft as reimbursement for
VCampus’ costs and expenses incurred in conjunction with the Reorganization. No termination fee set forth in this Section 8.10 may be modified or cancelled without the written consent of both parties or pursuant to formal action by the
Bankruptcy Court expressly modifying the fee. 
 8.11 Construction. Headings in this Agreement are for convenience of reference only,
and are not intended to nor shall they be used to construe the meaning of operative provisions of this Agreement. The words “herein,” “hereof,” “hereunder,” and words of similar import refer to this Agreement. Terms
defined or used in the singular form herein are intended to include the plural form. The terms “includes,” or “including” are not limiting, and should be construed as though followed by the phrase “by way of illustration and
not limitation.” 
  

 22 

 [The remainder of this page is intentionally left blank.] 
  

 23 

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

  

									
		 		 	 PROSOFT:

			
	 Attest:
	 		 	Prosoft Learning Corporation
					
	 By:
	 	  	 		 	 By:
	 	  
					
		 	                                       
               Secretary
	 		 		 	                                       
               , President

  

									
		 		 	 COMPUTERPREP:

			
	 Attest:
	 		 	By: Prosoft Learning Corporation, its sole shareholder
					
	 By:
	 	  	 		 	 By:
	 	  
					
		 	                                       
               Secretary
	 		 		 	                                       
               , President

  

									
		 		 	 VCAMPUS:

			
	 Attest:
	 		 	VCampus Corporation
					
	 By:
	 	  	 		 	 By:
	 	  
					
		 	                                       
               Secretary
	 		 	 Name:
	 	  
					
		 		 		 	 Title:
	 	  

  

 24 

 Schedule 1.2.5—Intellectual Property 
 Copyrights 
 Copyrights to all instructional materials,
including textbooks, created by Prosoft Learning Corporation and/or ComputerPREP Inc. 
 Trademarks/Trade Names 
 Per attached listing. 
 Pending
Trademarks 
 ASSESS PREP 
 ASSESS PREP (Logo) 
 PROSOFT LEARNING 
 PROSOFT LEARNING CORPORATION 
 PROSOFT LEARNING CORPORATION (Logo) 
 Other Intellectual Property 
 In process, XML conversion project currently underway with Xyleme, Inc.

 Schedule 1.2.8 
 The Subsidiaries Excluded from the Sale 
  

			
	 Name
	 	 Country of Incorporation

	 1. Prosoft Training Hong Kong Ltd.
	 	China
		
	 2. Prosoft Training Solutions Singapore Pte. Ltd.
	 	Singapore

 Schedule 1.3A 
 Real Property Leases 
 None 

 Schedule 1.3B 
 Personal Property Leases 
 None 

 Schedule 1.3C 
 The Rejected Executory Contracts 
  

	1.	The Consulting Agreement between ProsoftTraining, a Nevada corporation, and Robert G. Gwin, made the 12th day of November 2004. 

  

	2.	The Employment Agreement between Prosoft Learning Corporation, a Nevada corporation, and Benjamin M. Fink, made the 27th day of October 2005. 

  

	3.	Any and all Employment Agreements and Independent Contractor Agreements other than the Employment Agreement between ProsoftTraining, a Nevada corporation, and Dara Titus, made the
21st day of March 2003, and the Independent Contractor Agreement between Prosoft Learning Corporation, a Nevada
corporation, and Kerri Krell, made the 19th day of January 2006. 

  

	4.	The 1996 Stock Option Plan of Pro-Soft Development Corp., a California corporation, including all agreements thereunder. 

  

	5.	The 1996 Stock Option Plan of Prosofttraining.com, a Nevada corporation, including all agreements thereunder. 

  

	6.	The 1996 Stock Option Plan of ProSoft Development Inc., a Nevada corporation, including all agreements thereunder. 

  

	7.	The 2000 Stock Incentive Plan of Prosofttraining.com., a Nevada corporation, including all agreements thereunder. 

  

	8.	The 2000 Employee Stock Purchase Plan of Prosofttraining.com, a Nevada corporation, including all agreements thereunder. 

  

	9.	The 2001 Stock Option Plan of ProsoftTraining.com, a Nevada Corporation, including all agreements thereunder. 

  

	10.	The Prosoft 401(k) Plan of Prosoft Learning Corporation as amended on the 1st day of September 2005. 

  

	11.	The CORPORATEplan for Retirement Service Agreement between ProsoftTraining and Fidelity Management Trust Company, made effective as of the 1st day of August 1998. 

  

	12.	The Amended and Restated Courseware License and Distribution Agreement between ProsoftTraining, a Nevada corporation and New Horizons Computer Learning Centers, Inc., a California
corporation, entered into on the 30th day of June 2001. 

  

	13.	The First Amendment to the Restated Courseware License and Distribution Agreement between ProsoftTraining, a Nevada corporation and New Horizons Computer Learning Centers, Inc., a
California corporation, entered into on the 18th day of December 2001. 

  

	14.	Any and all contracts that relate to trade payables which are not specifically assumed and set forth on Schedule 1.4. 

 Schedule 2.3(d) 
 The Wait List Liabilities 
  

				
	 VENDOR NAME
	  	TOTAL BALANCE
	 University of Texas at Austin
	  	$	5,000.00
	 Fidelity Investments Institutional Oper
	  	$	2,200.00
	 Companion Life
	  	$	1,732.87
	 Pacificad
	  	$	1,000.00
	 University of Phoenix
	  	$	1,000.00
	 Signal Learning Center
	  	$	242.25

 Schedule 1.4 
 The Assumed Liabilities 
  

	I.	Trade Payables 

  

				
	 VENDOR
	  	TOTAL BALANCE
	 1.Gilmore Global Logistics Services, Inc.
	  	$	178,451.17
	 2. Thomson Learning
	  	$	66,312.97
	 3. TIA
	  	$	36,077.06
	 4. Integral 7, Inc.
	  	$	20,500.00
	 5. United HealthCare Insurance Company
	  	$	20,154.60
	 6. Xyleme, Inc.
	  	$	14,988.57
	 7. First Insurance Funding Corp.
	  	$	10,652.87
	 8. Ramona Coveny
	  	$	10,300.00
	 9. A & A Products & Packaging
	  	$	6,046.74
	 10. Current Technology CLC
	  	$	5,600.00
	 11. I Linc Communications
	  	$	5,512.50
	 12. Cisco Systems Capital Corp.
	  	$	5,075.94
	 13. Netg
	  	$	4,049.63
	 14. Digital North, Inc.
	  	$	3,800.00
	 15. Learnkey, Inc.
	  	$	3,231.00
	 16. FedEx
	  	$	3,135.89
	 17. Time Warner Telecom
	  	$	2,517.80
	 18. DTI Publishing Corp.
	  	$	2,033.55
	 19. Gilmore Global Logistics Services Inc.
	  	$	1,987.06
	 20. Carlotta Eaton
	  	$	1,891.97
	 21. Jefferson Pilot Financial
	  	$	1,576.00
	 22. Konica Minolta Business Solution
	  	$	1,504.54
	 23. Pellissippi State Technical Comm College
	  	$	1,341.00
	 24. Ground Zero Electrostatics, Inc.
	  	$	1,241.50
	 25. Board of Equalization
	  	$	1,123.00
	 26. ViaTech Publishing Solutions
	  	$	1,112.32
	 27. Arkansas Association of 2-Year Colleges
	  	$	1,000.00
	 28. NYS Dept. of Taxation & Finance
	  	$	913.46
	 29. Chandler Partners Limited
	  	$	735.33
	 30. Westlake Internet Training
	  	$	550.27
	 31. CGI-AMS
	  	$	500.89
	 32. Makau Corporation
	  	$	331.01
	 33. State of Georgia Dept. of Revenue
	  	$	315.39
	 34. Performance Print & Promo
	  	$	260.00
	 35. SBC
	  	$	254.91
	 36. Muzak LLC
	  	$	249.84
	 37. Arizona Department of Revenue
	  	$	222.52
	 38. Aramark Refreshment Services
	  	$	190.06
	 39. Ascom Hasler/GE Cap Prog
	  	$	187.65
	 40. CCI Learning Solutions
	  	$	185.55
	 41. Cingular Wireless
	  	$	163.22
	 42. Bell South
	  	$	161.53
	 43. Cingular Wireless
	  	$	154.89
	 44. Cave Creek Vending
	  	$	138.00
	 45. Illinois Dept. of Revenue
	  	$	134.00
	 46. SBC
	  	$	125.93
	 47. WebCT, Inc.
	  	$	120.00
	 48. Support Payment Clearinghouse
	  	$	115.85
	 49. Data Storage Centers, Inc.
	  	$	115.00

				
	 50. AT&T
	  	$	106.34
	 51. State of Wyoming
	  	$	105.48
	 52. Bell South
	  	$	90.44
	 53. DHL Express (USA), Inc.
	  	$	89.84
	 54. Colorado Dept. of Revenue
	  	$	84.00
	 55. Discovery Benefits
	  	$	75.00
	 56. Qwest
	  	$	59.58
	 57. Zee Medical
	  	$	57.47
	 58. WV State Tax Department
	  	$	53.82
	 59. Qwest
	  	$	47.50
	 60. Arizona Corporation Commission
	  	$	45.00
	 61. South Dakota Dept. of Revenue
	  	$	43.50
	 62. Verizon California
	  	$	40.75
	 63. Hixson High School
	  	$	40.32
	 64. GlobalMentoring
	  	$	20.00
	 65. State of Arkansas
	  	$	10.65
	 66. Blackboard
	  	$	10.00
		
	 Subtotal ($)
	  	$	418, 322.67
		
	 68. PDI Europe Limited
	  	€	20,617.93
	 Subtotal (€)
	  	€	20,617.93
	 Total
	  		

  

	II.	Other Liabilities 

 All liabilities of Prosoft under that
certain Letter Agreement dated April 5, 2006 by and between Prosoft and Prosoft Training Japan, Inc., including the $100,000 “credit” liability referenced therein, but only to the extent such liability, or portion thereof, still
exists as of the Closing Date. 

 Schedule 1.4 (continued) 
 III. Taxes and Other Similar Obligations 
  

															
	 Tax Id
	 	 Tax Authority
	 	 Address 1
	 	City	 	State	 	Zip	 	Type of
Tax	 	Claim
	 68SU 21200
	 	Alabama Department of Revenue	 	PO Box 327950	 	Birmingham	 	AL	 	36132-7950	 	Sales Tax	 	1.96
	 0187501-76-001
	 	State of Arkansas	 	PO Box 8092	 	Little Rock	 	AR	 	72203-8092	 	Sales Tax	 	1,331.48
	 99506637
	 	Board of Equalization	 	PO Box 942879	 	Sacramento	 	CA	 	94263-0001	 	Sales Tax	 	771.19
	 03-76649-0000
	 	Colorado Dept. of Revenue	 	1375 Sherman Street	 	Denver	 	CO	 	80261-0013	 	Sales Tax	 	3.05
	 8508848-000
	 	State of Connecticut	 	25 Sigourney Street/PO Box 5002	 	Hartford	 	CT	 	06102-5002	 	Sales Tax	 	86.00
	 5996-0158596-001
	 	DC Treasurer	 	PO Box 96384	 	Washington	 	DC	 	20090-6384	 	Sales Tax	 	5.69
	 78-00-074574-40-2
	 	Florida Department of Revenue	 	5050 W. Tennessee Street	 	Tallahassee	 	FL	 	32399-0125	 	Sales Tax	 	758.58
	 20006587123
	 	State of Georgia Dept. of Revenue	 	PO Box 105296	 	Atlanta	 	GA	 	30348-5296	 	Sales Tax	 	245.85
		 	Hawaii	 	PO Box 1425	 	Honolulu	 	HI	 	96806-1425	 	Sales Tax	 	8,654.74
	 2-00-137140
	 	Iowa Dept. of Revenue & Finance	 	PO Box 10412	 	Des Moines	 	IA	 	50306-0412	 	Sales Tax	 	44.69
	 2241-3375
	 	Illinois Dept. of Revenue	 	Retailer’s Occupation Tax	 	Springfield	 	IL	 	62796-0001	 	Sales Tax	 	210.63
	 006096093 001 8
	 	Indiana Department of Revenue	 	PO Box 7218	 	Indianapolis	 	IN	 	46207-7218	 	Sales Tax	 	522.89
	 115-5852 M
	 	Kansas Dept. of Revenue	 	Division of Taxation	 	Topeka	 	KS	 	66625-0001	 	Sales Tax	 	53.20
	 99718
	 	Kentucky State Treasurer	 	PO Box 299	 	Frankfort	 	KY	 	40620-0003	 	Sales Tax	 	158.59
	 9213950001
	 	Louisiana Dept. of Revenue & Taxation	 	PO Box 3138	 	Baton Rouge	 	LA	 	70821-3138	 	Sales Tax	 	34.93
	 860-474-159*10*
	 	Massachusetts Dept. of Revenue	 	PO Box 7039	 	Boston	 	MA	 	02204-7039	 	Sales Tax	 	102.30
	 07648366
	 	Comptroller of Maryland - SUT	 	PO Box 17405	 	Baltimore	 	MD	 	21297-1405	 	Sales Tax	 	564.14
	 1020514
	 	Bureau of Taxation	 	PO Box 1065	 	Augusta	 	ME	 	04332-1065	 	Sales Tax	 	63.60
	 86-0474159
	 	State of Michigan	 	Department 77003	 	Detroit	 	MI	 	48277-0003	 	Sales Tax	 	325.19
	 1159560
	 	Minnesota Department of Revenue	 	Mail Station 1110	 	Saint Paul	 	MN	 	55146-1110	 	Sales Tax	 	108.19
	 15852008
	 	Missouri Department of Revenue	 	PO Box 3300	 	Jefferson City	 	MO	 	65105	 	Sales Tax	 	128.34
	 185-11544-1
	 	Mississippi State Tax Commission	 	PO Box 960	 	Jackson	 	MS	 	39205-0960	 	Sales Tax	 	548.74
	 901 9 101 55686
	 	North Carolina Department of Revenue	 	PO Box 25000	 	Raleigh	 	NC	 	27640-0500	 	Sales Tax	 	94.08
	 151034
	 	North Dakota Office of	 	600 E. Boulevard Avenue	 	Bismarck	 	ND	 	58505-0599	 	Sales Tax	 	84.22
	 24-7583486
	 	Nebraska Department of Revenue	 	PO Box 98923	 	Lincoln	 	NE	 	68509-8923	 	Sales Tax	 	69.92
	 B  860-474-159/000
	 	State of New Jersey	 	PO Box 999	 	Trenton	 	NJ	 	08646-0999	 	Sales Tax	 	74.68
	 02-384067-00-6
	 	State of New Mexico	 	PO Box 25127	 	Santa Fe	 	NM	 	87504-5127	 	Sales Tax	 	246.85
	 860474159
	 	NYS Dept. of Taxation & Finance	 	P.O. Box 1912	 	Albany	 	NY	 	12201-1912	 	Sales Tax	 	405.35
	 99-030216
	 	Ohio Department of Taxation	 	PO Box 16560	 	Columbus	 	OH	 	43216-6560	 	Sales Tax	 	162.34
	 600998
	 	Oklahoma Tax Commission	 	PO Box 26850	 	Oklahoma City	 	OK	 	73126-0850	 	Sales Tax	 	10.73

															
	 Tax Id
	 	 Tax Authority
	 	 Address 1
	 	City	 	State	 	Zip	 	Type of
Tax	 	Amount of
Claim
	 99-643 740
	 	Pennsylvania Dept. of Revenue	 	Dept. 280406	 	Harrisburg	 	PA	 	17128-0406	 	Sales Tax	 	241.12
	 87344 8021 RT0001
	 	Canada Customs and Revenue Agency	 	275 Pope Road, Suite 103	 	Summerside	 	PE	 	C1N6A2	 	Sales Tax	 	3,787.83
	 099 20076 9
	 	South Carolina Dept. of Revenue	 	Sales Tax Return	 	Columbia	 	SC	 	29214-0101	 	Sales Tax	 	9.54
	 73-001-840474159E-ST-001
	 	South Dakota Dept. of Revenue	 	Box 5055	 	Sioux Falls	 	SD	 	57117-5055	 	Sales Tax	 	52.75
	 2-860474159-001-6
	 	Tennessee Dept. of Revenue	 	Andrew Jackson State Office Building	 	Nashville	 	TN	 	37242	 	Sales Tax	 	756.65
	 1-86-0474159-7
	 	Texas Comptroller of Public Accounts	 	111 E. 17th Street	 	Austin	 	TX	 	78774-0100	 	Sales Tax	 	467.40
	 E32144
	 	Utah State Commission	 	210 North 1950 West	 	Salt Lake
City	 	UT	 	84134-0400	 	Sales Tax	 	220.70
	 0015658071
	 	Virginia Department of Taxation	 	PO Box 1777	 	Richmond	 	VA	 	23208-1103	 	Sales Tax	 	105.30
	 108145
	 	Vermont Department of Taxes	 	109 State Street	 	Montpelier	 	VT	 	05609-1401	 	Sales Tax	 	4.80
	 601-435-882
	 	State of Washington	 	PO Box 34051	 	Seattle	 	WA	 	98124-1051	 	Sales Tax	 	1,194.12
	 UT21411
	 	Wisconsin Department of Revenue	 	Box 93389	 	Milwaukee	 	WI	 	53293-0389	 	Sales Tax	 	136.36
	 86-047-4159-001
	 	WV State Tax Department	 	PO Box 1826	 	Charleston	 	WV	 	25327-1826	 	Sales Tax	 	17.67
	 24-0-07607
	 	State of Wyoming	 	122 W. 25th Street	 	Cheyenne	 	WY	 	82002-0110	 	Sales Tax	 	168.53
								
		 		 		 		 		 	Total	 		 	23,034.91

 Schedule 2.5 Other Employee Benefits 
  

																					
	Social Security #	 	Last Name	 	First Name	 	 Title
	 	Address 1	 	City State Zip	 	Unpaid
Salary/Earnings	 	Unpaid
Vacation*	 	Unpaid
Float	 	 Unpaid
 Exp
 Reports
	 	 Amount
 of Claim

	xxx-xx-xxxx	 	Allen	 	Jean	 	Asst, Market Develop	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Bell	 	Michael	 	Dir Prods & Svcs	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Benscoter	 	Tom	 	CFO	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Coppen	 	Sarah	 	Office Administrator	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Crouch	 	Jenny	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	De Wald	 	Jim	 	Technical Cust Svc	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Dewald	 	Philip	 	Publisher	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Dravis	 	Daniel	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Evans	 	Andrew	 	Controller	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Fink	 	Benjamin	 	President & CEO	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Fisher	 	Deborah	 	Admin Assistant	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Gwin	 	Robert	 	Consultant	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Hannah	 	Gary	 	VP CIW Program Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Harnish	 	Lisa	 	Mgr, Certification Ops	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Hays	 	Eric	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Heer	 	Irina	 	Content Developer	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Himmelspach	 	Alan	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Hopkins	 	Todd	 	Director, Product Dev	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Jensen	 	Karen	 	VP Administration	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Koch	 	James	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Kozakis	 	Kenneth	 	Sr Content Developer	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Lane	 	Susan	 	Managing Editor	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Leach	 	Brian	 	Accountant	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Leavitt	 	Jay	 	Sr Customer Svc Rep	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Lobuglio	 	Francoise	 	Report Analyst	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	McLain	 	Vincent	 	VP Sales	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Miller	 	Jody	 	Marketing Manager	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Miller	 	Lindsay	 	CIO & VP Operations	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Mosby	 	Fulton	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Oberman	 	David	 	Senior Editor	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	O’Brien	 	Casey	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Pacht	 	Doug	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Petty	 	Yvonne	 	Customer Svc Rep	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Rathkamp	 	Cheryl	 	A/R Manager	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Reyes	 	Andrea	 	Inventory Control	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Rinehart	 	Stevie Ann	 	Marketing Coordinator	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Schneiter	 	Stephen	 	Certificaiton Specialist	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Skodak	 	Sarah	 	Editor	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Stanger	 	James	 	VP Cert & Prod Dev	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Steele	 	M. Elloise	 	Sr Web Developer	 	xxxxxxxxxxxxxxxxxx	 	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx

 Schedule 2.5 Other Employee Benefits 
  

																					
	xxx-xx-xxxx	 	Strong	 	Cristina	 	Publisher	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Thomason	 	Ted	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Titus-Kukla	 	Dara	 	Director Market Dev	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Verhoff	 	Gary	 	Product Manager	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Wiley	 	David	 	Database Developer	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Wilmoth	 	Dean	 	IT Manager	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Yuschik	 	Barbara	 	HR Administrator	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
	xxx-xx-xxxx	 	Zimmerman	 	Mary	 	Regional Acct Mgr	 	xxxxxxxxxxxxxxxxxx	  	xxxxx, xx xxxxx	 	xxxxxx	 	xxxx	 	xxxx	 	xxxx	 	xxxxxx
		 		 		 		 		  		 	 	 	 	 	 	 	 	 	 
		 		 		 		 		  	Total	 	105,681.05	 	103,401.52	 	7,546.66	 	3,472.10	 	220,003.54

 * The maximum carryover of unpaid vacation under VCampus’ employee benefit programs is 40 hours at the end of
any given year. Prosoft employees retained by Reorganized Prosoft and/or VCampus will be given full credit for their accrued vacation at the time of closing, but will be subject to the 40-hour maximum for December 31, 2006 and thereafter.
Unused vacation time exceeding the maximum is forfeited. 

 Exhibit 2.2.2A 
 PROMISSORY NOTE 
 Reston, VA 
                         , 2006 
 $150,000.00 
 FOR VALUE RECEIVED the undersigned
VCampus Corporation, a Delaware corporation (the “Maker”), promises to pay to Prosoft Learning Corporation (“Prosoft”) or its permitted assigns the principal sum of One Hundred and Fifty Thousand Dollars ($150,000.00), in
immediately available funds, together with simple interest from the date of issuance, at the rate of six percent (6 %) per annum on the unpaid balance until paid, both principal and interest payable in lawful money of the United States of America,
at the office of Prosoft, or at such place as the legal holder hereof may designate in writing. For the sake of clarity, interest shall be calculated based upon a presumed 360-day year with each month having 30 days. The entire principal and accrued
interest shall be due and payable in one balloon payment on July 1, 2007. 
 This Note may be prepaid in full or in part at any time
without penalty or premium. 
 Each of the following shall constitute a default under this Note: 
 (a) the failure of the Maker to make any payments when due on this Note and such failure continues for more than ten (10) days past
the due date. 
 (b) the failure of the Maker to comply with or to perform, in any material respect, when due any other term,
obligation, covenant or condition contained in this Note. If any failure, other than a failure to pay money, is curable, it may be cured (and no default will have occurred) if the Maker after receiving written notice from the holder demanding cure
of such failure: (i) cures the failure within thirty (30) days; or (ii) if the cure requires more than thirty (30) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all
reasonable and necessary steps sufficient to produce compliance as soon as reasonable; 
 (c) this Note, the Reorganization
Agreement or any provision thereof shall, for any reason, not be valid and binding on the Maker, or not be in full force and effect, or shall be declared to be null and void; the validity or enforceability of this Note or the Reorganization
Agreement shall be contested by Maker; except with respect to any duly exercised set-off rights of the Maker hereunder or under the Reorganization Agreement, the Maker shall deny that it has any or further liability or obligation under this Note or
the Reorganization Agreement; or any default or breach by the Maker in any material respect under any provision of the Reorganization Agreement shall continue after the applicable grace or cure period, if any, specified in the Reorganization
Agreement. 
 (d) the sale of substantially all of the assets or ownership of the Maker to an unaffiliated third party or a
merger or other change of control transaction in which both: 

 
(i) holders of the fully diluted equity of the Maker immediately prior to the transaction hold less than 50% of the fully diluted equity of the maker as of
immediately after the transaction; and (ii) the Board of Directors of the Maker immediately prior to the transaction comprise less than 50% of the members of the Board of Directors of the surviving corporation in the transaction. 
 (e) the dissolution or termination of the Maker’s existence, the Maker’s insolvency, appointment of a receiver for any
significant part of the Maker’s property, any assignment by the Maker for the benefit of creditors, any type of creditor workout with respect to the Maker, or the commencement of any proceeding under any bankruptcy or insolvency laws against
the Maker (which is not dismissed within 30 days). 
 (f) (i) the Maker shall fail to pay any other indebtedness of the
Maker when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and the maturity of such indebtedness, but only if in excess of $1,500,000, has been accelerated; (ii) the Maker shall fail to perform or
observe any term or covenant contained in any agreement or instrument relating to such indebtedness, when required to be performed or observed, and such failure shall continue after any applicable grace or cure period, if any, specified in such
agreement or instrument, and would result in acceleration of the maturity of such indebtedness, but only if in excess of $1,500,000, unless waived by the lender; or (iii) any such indebtedness, but only if in excess of $1,500,000, shall be
declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; or 
 (g) The Maker shall have any final judgment(s) outstanding against it for the payment of $1,500,000 or more, and such judgment(s) shall
remain unstayed, in effect, and unpaid for the period of time after which the judgment holder may cause the creation of liens against or seizure of any of the Maker’s property. 
 The holder of this Note may declare the entire balance hereunder to be immediately due and payable upon default (or at such time as the Maker receives
net cash proceeds, determined in accordance with generally accepted accounting principles, of at least $5,000,000 from the sale of securities of the Maker pursuant to a financing transaction (or series of integrated transactions)), whereupon the
unpaid capitalized principal balance and any accrued interest thereupon shall be due and payable without diligence, presentment, demand, protest, notice of protest or intent to accelerate, notice of acceleration or notice of any kind, all of which
are expressly waived by Maker. 
 The balance due under this Note is subject to automatic adjustment and/or set off pursuant to terms of
Sections 2.3 and 2.4 of the Acquisition and Reorganization Agreement dated April         , 2006, by and between the Maker and Prosoft (the “Reorganization Agreement”). 
 All parties to this Note, including the Maker and any sureties, endorsers, or guarantors hereby waive protest, presentment, notice of dishonor, and
notice of acceleration of maturity and agree to continue to remain bound for the payment of principal, interest and all other sums due 

 
under this Note notwithstanding any change or changes by way of release, surrender, exchange, modification or substitution of any security for this Note or
by way of any extension or extensions of time for the payment of principal and interest; and all such parties waive all and every kind of notice of change or changes and agree that the same may be made without notice or consent of any of them.

 Upon default the holder of this Note may employ an attorney to enforce the holder’s rights and remedies and the Maker, principal,
surety, guarantor and endorsers of this Note hereby agree to pay to the holder reasonable attorneys’ fees not exceeding a sum equal to fifteen percent (15%) of the outstanding balance owing on the Note, plus all other reasonable expenses
incurred by the holder in exercising any of the holder’s rights and remedies upon default. The rights and remedies of the holder as provided in this Note shall be cumulative and may be pursued singly, successively or together, in the sole
discretion of the holder. The failure to exercise any such right or remedy shall not be a waiver or release of such rights or remedies or the right to exercise any of them at another time. 
 This Note is to be governed and construed in accordance with the laws of the State of Delaware. 
 IN TESTIMONY WHEREOF, the Maker has caused this instrument to be executed in its corporate name by a duly authorized officer as of the day and year first
above written. 
  

									
		 		 	VCampus Corporation
		 		 	
				
		 		 	 By:
	 	  
					
		 		 		 	 Name:
	 	  
					
		 		 		 	 Title:
	 	  

 Exhibit 2.2.2B 
 PROMISSORY NOTE 
 Reston, VA 

	$150,000.00	

	                        ,	2006 

 FOR VALUE RECEIVED the undersigned VCampus
Corporation, a Delaware corporation (the “Maker”), promises to pay to Prosoft Learning Corporation (“Prosoft”) or its permitted assigns the principal sum of One Hundred and Fifty Thousand Dollars ($150,000.00), in immediately
available funds, together with simple interest from the date of issuance until December 31, 2006 at the rate of six percent (6%) per annum, on which date the principal and interest which has accrued thereon will be capitalized into a new
principal amount and the undersigned promises to pay this new capitalized amount, together with interest at the rate of six percent (6%) per annum on the unpaid balance from January 1, 2007 until paid, both principal and accrued interest
payable in lawful money of the United States of America, at the office of Prosoft, or at such place as the legal holder hereof may designate in writing. For the sake of clarity, interest shall be calculated based upon a presumed 360-day year with
each month having 30 days. The entire principal and interest on the capitalized amount shall be due and payable as follows: 
 In six
(6) equal monthly installments of principal and accrued interest with the first installment due on January 1, 2007 and the remaining installments due and payable on the first day of each successive month with a final payment due and
payable on June 1, 2007. 
 This Note may be prepaid in full or in part at any time without penalty or premium. 
 Each of the following shall constitute a default under this Note: 
 (a) the failure of the Maker to make any payments when due on this Note and such failure continues for more than ten (10) days past
the due date. 
 (b) the failure of the Maker to comply with or to perform, in any material respect, when due any other term,
obligation, covenant or condition contained in this Note. If any failure, other than a failure to pay money, is curable, it may be cured (and no default will have occurred) if the Maker after receiving written notice from the holder demanding cure
of such failure: (i) cures the failure within thirty (30) days; or (ii) if the cure requires more than thirty (30) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all
reasonable and necessary steps sufficient to produce compliance as soon as reasonable; and 
 (c) this Note, the
Reorganization Agreement or any provision thereof shall, for any reason, not be valid and binding on the Maker, or not be in full force and effect, 

 
or shall be declared to be null and void; the validity or enforceability of this Note or the Reorganization Agreement shall be contested by Maker; except
with respect to any duly exercised set-off rights of the Maker hereunder or under the Reorganization Agreement, the Maker shall deny that it has any or further liability or obligation under this Note or the Reorganization Agreement; or any default
or breach by the Maker in any material respect under any provision of the Reorganization Agreement shall continue after the applicable grace or cure period, if any, specified in the Reorganization Agreement. 
 (d) the sale of substantially all of the assets or ownership of the Maker to an unaffiliated third party or a merger or other change of
control transaction in which both: (i) holders of the fully diluted equity of the Maker immediately prior to the transaction hold less than 50% of the fully diluted equity of the maker as of immediately after the transaction; and (ii) the
Board of Directors of the Maker immediately prior to the transaction comprise less than 50% of the members of the Board of Directors of the surviving corporation in the transaction. 
 (e) the dissolution or termination of the Maker’s existence, the Maker’s insolvency, appointment of a receiver for any
significant part of the Maker’s property, any assignment by the Maker for the benefit of creditors, any type of creditor workout with respect to the Maker, or the commencement of any proceeding under any bankruptcy or insolvency laws against
the Maker (which is not dismissed within 30 days). 
 (f) (i) the Maker shall fail to pay any other indebtedness of the
Maker when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and the maturity of such indebtedness, but only if in excess of $1,500,000, has been accelerated; (ii) the Maker shall fail to perform or
observe any term or covenant contained in any agreement or instrument relating to such indebtedness, when required to be performed or observed, and such failure shall continue after any applicable grace or cure period, if any, specified in such
agreement or instrument, and would result in acceleration of the maturity of such indebtedness, but only if in excess of $1,500,000, unless waived by the lender; or (iii) any such indebtedness, but only if in excess of $1,500,000, shall be
declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; or 
 (g) The Maker shall have any final judgment(s) outstanding against it for the payment of $1,500,000 or more, and such judgment(s) shall
remain unstayed, in effect, and unpaid for the period of time after which the judgment holder may cause the creation of liens against or seizure of any of the Maker’s property. 
 The holder of this Note may declare the entire balance hereunder to be immediately due and payable upon default (or at such time as the Maker receives net cash proceeds, determined in accordance with generally
accepted accounting principles, of at least $5,000,000 from the sale of securities of the Maker pursuant to a financing transaction (or series of integrated transactions)), whereupon the unpaid capitalized principal balance and any accrued interest
thereupon shall be due and payable without diligence, presentment, demand, protest, notice of protest or intent to 

 
accelerate, notice of acceleration or notice of any kind, all of which are expressly waived by Maker. 
 The balance due under this Note is subject to automatic adjustment and/or set off pursuant to the terms of Section 2.3 and 2.4 of the Acquisition
and Reorganization Agreement dated April         , 2006, by and between the Maker and Prosoft (the “Reorganization Agreement”). 
 All parties to this Note, including the Maker and any sureties, endorsers, or guarantors hereby waive protest, presentment, notice of dishonor, and
notice of acceleration of maturity and agree to continue to remain bound for the payment of principal, interest and all other sums due under this Note notwithstanding any change or changes by way of release, surrender, exchange, modification or
substitution of any security for this Note or by way of any extension or extensions of time for the payment of principal and interest; and all such parties waive all and every kind of notice of change or changes and agree that the same may be made
without notice or consent of any of them. 
 Upon default the holder of this Note may employ an attorney to enforce the holder’s rights
and remedies and the Maker, principal, surety, guarantor and endorsers of this Note hereby agree to pay to the holder reasonable attorneys’ fees not exceeding a sum equal to fifteen percent (15%) of the outstanding balance owing on the
Note, plus all other reasonable expenses incurred by the holder in exercising any of the holder’s rights and remedies upon default. The rights and remedies of the holder as provided in this Note shall be cumulative and may be pursued singly,
successively or together, in the sole discretion of the holder. The failure to exercise any such right or remedy shall not be a waiver or release of such rights or remedies or the right to exercise any of them at another time. 
 This Note is to be governed and construed in accordance with the laws of the State of Delaware. 
 IN TESTIMONY WHEREOF, the Maker has caused this instrument to be executed in its corporate name by a duly authorized officer as of the day and year first
above written. 
  

									
		 		 	VCampus Corporation
		 		 	
				
		 		 	 By:
	 	  
					
		 		 		 	 Name:
	 	  
					
		 		 		 	 Title:
	 	  

 Exhibit A – List of Subsidiaries 
  

							
	 Name & Address of Other Business
	 	 Employer ID Number
	  	 Nature of Business
	 	 Beginning/End Dates of Ownership

				
	 ComputerPREP Inc.
 410 N. 44th St., Suite 600

Phoenix, AZ 85008
	 	86-0474159	  	Supplier/Developer of Information Technology Courseware & Training.	 	July 2000 to present
				
	 Mastery Point Learning Systems
 10200 Valley View Road,
#153
 Eden Prairie, MN 55344
	 	75-2363831	  	Content Development and Courseware for convergence (CCNT, computer & telephony) technologies	 	December 2000 to Nov. 2004 (Not currently operating under that corporate entity)
				
	 ProsoftTraining Europe, Ltd
 Mary Rosse
Centre,
 Holland Road
 National Technological Park
 Limerick, Ireland
	 	N/A, Ireland Corporation	  	IT Content and Certification Development, Management & Courseware for the EMEA Region	 	January 1998 to present
				
	 ProsoftTraining Hong Kong Ltd.
 901 Yu Yuet Lai
Bldg.
 43-55 Wyndham Street
 Hong Kong, China
	 	N/A, China Corporation	  	IT Content and Certification Development, Management & Courseware for the Far East Region	 	May 2001 to present (inactive)
				
	 ProsoftTraining Solutions
 Singapore PTE Ltd.

47 Hill Street, #05-04/06
 Singapore 179365
	 	N/A, Singapore Corporation	  	Wholly-owned subsidiary of Prosoft Training Hong Kong. Same business.	 	June 2001 to present (inactive)
				
	 Pro-Soft Development, Inc.
 410 N. 44th St., Suite
600
 Phoenix, AZ 85008
	 	33-0692487	  	IT Content Development	 	 December 1999 to present
 (inactive)

				
	Others, more than 6 years:	 		  		 	
				
	The Chapel Hill Group	 	56-2009120	  		 	March 1998 to 2000 (inactive)
				
	Net Guru Technologies Inc.	 	36-3802230	  		 	January 1998 to 2000 (inactive)

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