Document:

EXHIBIT
      10.2

    

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      Agreement is made as of [    ], 2007 by and between Camden
      Learning Corporation (the “Company”) and Continental Stock Transfer & Trust
      Company (“Trustee”).

     

    WHEREAS,
      the Company’s Registration Statement on Form S-1, File No. 333-[  
 ] (“Registration Statement”), for its initial public offering of
      securities (“IPO”) has been declared effective on [    ], 2007 by
      the Securities and Exchange Commission (“Effective Date”); and

     

    WHEREAS,
      the Company has completed a private placement of 2,500,000 Warrants (the
“Private Warrants”) prior to the completion of the IPO for a purchase price of
      $2,500,000; and

     

    WHEREAS,
      Morgan Joseph & Co. Inc. (“Morgan Joseph”) is acting as the representative
      of the underwriters in the IPO (the “Underwriters”); and

     

    WHEREAS,
      as described in the Company’s Registration Statement, in accordance with the
      Company’s Amended and Restated Certificate of Incorporation, $[35,550,000] of
      the net proceeds of the IPO and the sale of the Private Warrants
      ($[    ] if the Underwriters’ over-allotment option is exercised
      in full), will be delivered to the Trustee as of [    ], 2007 to
      be deposited and held in a trust account for the benefit of the Company, the
      holders of the common stock, par value $.0001 per share, of the Company (“Common
      Stock”) included in the units of the Company’s securities issued in the IPO (the
“Units”) and Morgan Joseph and in the event the securities offered in the IPO
      are registered in Colorado, pursuant to Section 11-51-302 (6) of the Colorado
      Revised Statutes (“CRS”), a copy of which is attached hereto, and made a part
      hereof. The amount to be delivered to the Trustee will be referred to herein
      as
      the “Property,” the stockholders for whose benefit the Trustee shall hold the
      Property will be referred to as the “Public Stockholders,” and the Public
      Stockholders, the Company and Morgan Joseph and the Underwriters will be
      referred to together as the “Beneficiaries”; 

     

    WHEREAS,
      a portion of the Property consists of $720,000 (or $828,000 if the Underwriters’
over-allotment is exercised in full) attributable to the Underwriters’ discount
      (the “Deferred Discount”) which the Underwriters have agreed to deposit in the
      Trust Account (as defined below); and

    

    WHEREAS,
      the Company and the Trustee desire to enter into this Agreement to set forth
      the
      terms and conditions pursuant to which the Trustee shall hold the
      Property.

     

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual covenants and
      agreements herein contained, the parties hereto agree as follows:

     

    1.
 
      Agreements
      and Covenants of Trustee.
      The
      Trustee hereby agrees and covenants to:

     

    (a)
         Hold the Property in trust for the Beneficiaries in accordance with
      the terms of this Agreement, including, without limitation, with respect to
      the
      Public Stockholders, the terms of Section 11-51-302(6) of the CRS in segregated
      trust accounts (the “Trust Account”) established by the Trustee with
      [      ];

      

    (b)
         Manage, supervise and administer the Trust Account subject to the
      terms and conditions set forth herein;

     

    (c)
         In
      a
      timely manner, upon the written instruction of the Company, to invest and
      reinvest the Property in any “Government Security” or in money market funds
      selected by the Company meeting the conditions specified in Rule 2a-7
      promulgated under the Investment Company Act of 1940, as amended, as determined
      by the Company. As used herein, “Government Security” means any Treasury Bill
      issued by the United States, having a maturity of one hundred and eighty days
      or
      less;

     

    (d)
         Collect and receive, when due, all principal and income arising
      from the Property, which shall become part of the “Property,” as such term is
      used herein;

     

    (e)   
      Promptly notify the Company and Morgan Joseph of all communications received
      by
      it with respect to any Property requiring action by the Company;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (f)
         Supply any necessary information or documents as may be requested
      by the Company in connection with the Company’s preparation of the tax returns
      for the Trust Account or the Company;

     

    (g)
         Participate in any plan or proceeding for protecting or enforcing
      any right or interest arising from the Property if, as and when instructed
      by
      the Company and/or Morgan Joseph to do so;

     

    (h)
         Render to the Company and to Morgan Joseph, and to such other
      person as the Company may instruct, monthly written statements of the activities
      of and amounts in the Trust Account reflecting all receipts and disbursements
      of
      the Trust Account;

     

    (i)
         If there is any income or other tax obligation relating to the
      income from the Property in the Trust Account, then, from time to time, at
      the
      written instruction of the Company, the Trustee shall promptly to the extent
      there is not sufficient cash in the Trust Account to pay such tax obligation,
      liquidate such assets held in the Trust Account as shall be designated by the
      Company in writing; and

    

    (j) Commence
      liquidation of the Trust Account only after and promptly after receipt of,
      and
      only in accordance with, the terms of a letter (“Termination Letter”), in a form
      substantially similar to that attached hereto as either Exhibit A or Exhibit
      B
      hereto, signed on behalf of the Company by its President or Chairman of the
      Board and Secretary or Assistant Secretary or other authorized officer of the
      Company, and complete the liquidation of the Trust Account and distribute the
      Property in the Trust Account only as directed in the Termination Letter and
      the
      other documents referred to therein; provided, however, that in the event that
      a
      Termination Letter has not been received by the Trustee by the 24-month
      anniversary of the effective date of the Registration Statement (“Last Date”),
      the Trust Account shall be liquidated in accordance with the procedures set
      forth in the Termination Letter attached as Exhibit B hereto and distributed
      to
      the stockholders of record on the Last Date. In all cases, the Trustee shall
      provide Morgan Joseph with a copy of any Termination Letters and/or any other
      correspondence that it receives with respect to any proposed withdrawal from
      the
      Trust Account promptly after it receives same. The provisions of this Section
      1(j) may not be modified, amended or deleted under any
      circumstances.

    

    2.
 
      Limited
      Distributions of Income on Property.

     

    (a)
         If there is any income tax obligation relating to the income from
      the Property in the Trust Account, then, at the written instruction of the
      Company, the Trustee shall disburse to the Company or the Internal Revenue
      Service by wire transfer or check (as directed by the Company in its instruction
      letter), out of the Property in the Trust Account, the amount indicated by
      the
      Company as required to pay income taxes and disburse to the Company by wire
      transfer out of the Property in the Trust Account, the amount indicated by
      the
      Company as owing in respect of such income tax.

    

    (b) Upon
      written request from the Company containing certification that such distribution
      pursuant to this Section 2(b) shall only be used to fund the working capital
      requirements of the Company and the costs related to identifying, researching
      and acquiring a prospective target businesses, included, without limitation,
      the
      expenses incurred in connection with the Company’s dissolution, in each case as
      described in the prospectus that forms a part of the Registration Statement,
      the
      Trustee shall distribute to the Company an amount equal to up to $750,000 of
      the
      income earned on the Property in the Trust Account, net of taxes payable,
      through the last day of the month immediately preceding the date of receipt
      of
      the Company’s written request.

    

    (c) Upon
      receipt of the Termination Letter, the Trustee shall liquidate the Trust Account
      in accordance with Section 1(j).

    

    (d) Except
      as
      provided in this Section 2, no other distributions from the Trust Account shall
      be permitted.

     

    3.
 
      Agreements
      and Covenants of the Company.
      The
      Company hereby agrees and covenants:

     

    (a)
         To provide all instructions to the Trustee hereunder in writing,
      signed by the Company’s Chief Executive Officer and Chief Financial Officer. In
      addition, except with respect to its duties under paragraphs 1(i) and 1(j),
      the
      Trustee shall be entitled to rely on, and shall be protected in relying on,
      any
      verbal or telephonic advice or instruction which it in good faith believes
      to be
      given by any one of the persons authorized above to give written instructions,
      provided that the Company and/or Morgan Joseph shall promptly confirm such
      instructions in writing;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)
         To hold the Trustee harmless and indemnify the Trustee from and
      against any and all expenses, including reasonable counsel fees and
      disbursements, or loss suffered by the Trustee in connection with any action,
      suit or other proceeding brought against the Trustee involving any claim, or
      in
      connection with any claim or demand which in any way arises out of or relates
      to
      this Agreement, the services of the Trustee hereunder, or the Property or any
      income earned from investment of the Property, except for expenses and losses
      resulting from the Trustee’s gross negligence or willful misconduct. Promptly
      after the receipt by the Trustee of notice of demand or claim or the
      commencement of any action, suit or proceeding, pursuant to which the Trustee
      intends to seek indemnification under this paragraph, it shall notify the
      Company in writing of such claim (hereinafter referred to as the “Indemnified
      Claim”). The Trustee shall have the right to conduct and manage the defense
      against such Indemnified Claim, provided that the Trustee shall obtain the
      consent of the Company with respect to the selection of counsel, which
      consent shall not be unreasonably withheld. The Trustee may not agree to
      settle any Indemnified Claim without the prior written consent of the Company.
      The Company may participate in such action with its own counsel at its own
      expense;

     

    (c)
         Pay the Trustee an initial acceptance fee, an annual fee and a
      transaction processing fee for each disbursement made pursuant to Sections
      1(i)
      and 2(b) as set forth on Schedule A hereto, which fees shall be subject to
      modification by the parties from time to time. It is expressly understood that
      the Property shall not be used to pay such fees and further agreed that said
      transaction processing fees shall be deducted by the Trustee from the
      disbursements made to the Company pursuant to Section 2(b). The Company shall
      pay the Trustee the initial acceptance fee and first year’s fee at the
      consummation of the IPO and thereafter on the anniversary of the Effective
      Date.
      The Trustee shall refund to the Company the annual fee (on a pro rata basis)
      with respect to any period after the liquidation of the Trust Account. The
      Company shall not be responsible for any other fees or charges of the Trustee
      except as set forth in this Section 3(c) and as may be provided in Section
      3(b)
      hereof (it being expressly understood that the Property shall not be used to
      make any payments to the Trustee under such Sections);

     

    (d)
         That, in the event that the Company consummates a Business
      Combination and the Trust Account is liquidated in accordance with Section
      1(j)
      hereof, the Trustee or another independent party designated by Morgan Joseph
      shall act as the inspector of election to certify the results of the stockholder
      vote. As used in this Agreement, the term “Business Combination” means the
      acquisition by the Company, through merger, capital stock exchange, asset or
      stock acquisition of, or similar business combination with, one or more entities
      with an operating business in the education industry, as more fully described
      in
      the prospectus forming a part of the Registration Statement;

     

    (e)
         That the Officers Certificate referenced in Sections 1(j) hereof
      shall require the Company’s Chief Executive Officer and Chief Financial Officer
      to each certify the following (wherever applicable): (1) prior to the Last
      Date,
      the Company has entered into a Business Combination with a target business,
      the
      terms of which are consistent with the requirements set forth in the
      Registration Statement; and (2) the Board of Directors (the “Board”) pursuant to
      the unanimous written consent of the Board has approved the Business
      Combination. A copy of such consent and the definitive agreement relating to
      the
      Business Combination so approved shall be attached as an exhibit to the Officers
      Certificate;

     

    (f)
      In
      connection with any vote of the Company’s stockholders regarding a Business
      Combination, provide to the Trustee an affidavit or certificate of a firm
      regularly engaged in the business of soliciting proxies and tabulating
      stockholder votes (which firm may be the Trustee) verifying the vote of the
      Company’s stockholders regarding such Business Combination;

     

    (g)
      Within five business days after the Underwriters’ over-allotment option (or any
      unexercised portion thereof) expires or is exercised in full, to provide the
      Trustee notice in writing (with a copy to the Underwriters) of the total amount
      of the Deferred Discount, which shall in no event be less than $720,000;
      and

     

    4.
 
      Limitations
      of Liability.
      The
      Trustee shall have no responsibility or liability to:

     

    (a)
         Take any action with respect to the Property, other than as
      directed in Sections 1 and 2 hereof and the Trustee shall have no liability
      to
      any party except for liability arising out of its own gross negligence or
      willful misconduct;

     

    (b)
         Institute any proceeding for the collection of any principal and
      income arising from, or institute, appear in or defend any proceeding of any
      kind with respect to, any of the Property unless and until it shall have
      received written instructions from the Company given as provided herein to
      do so
      and the Company shall have advanced or guaranteed to it funds sufficient to
      pay
      any expenses incident thereto;

     

    (c)
         Change the investment of any Property, other than in compliance
      with Section 1(c);

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)
         Refund any depreciation in principal of any Property;

     

    (e)
         Assume that the authority of any person designated by the Company
      to give instructions hereunder shall not be continuing unless provided otherwise
      in such designation, or unless the Company shall have delivered a written
      revocation of such authority to the Trustee;

     

    (f)
         The other parties hereto or to anyone else for any action taken or
      omitted by it, or any action suffered by it to be taken or omitted, in good
      faith and in the exercise of its own best judgment, except for its gross
      negligence or willful misconduct. The Trustee may rely conclusively and shall
      be
      protected in acting upon any order, notice, demand, certificate, opinion or
      advice of counsel (including counsel chosen by the Trustee), statement,
      instrument, report or other paper or document (not only as to its due execution
      and the validity and effectiveness of its provisions, but also as to the truth
      and acceptability of any information therein contained) which is believed by
      the
      Trustee, in good faith, to be genuine and to be signed or presented by the
      proper person or persons. The Trustee shall not be bound by any notice or
      demand, or any waiver, modification, termination or rescission of this Agreement
      or any of the terms hereof, unless evidenced by a written instrument delivered
      to the Trustee signed by the proper party or parties and, if the duties or
      rights of the Trustee are affected, unless it shall give its prior written
      consent thereto;

      

    (g)
         Verify the correctness of the information set forth in the
      Registration Statement or to confirm or assure that any acquisition made by
      the
      Company or any other action taken by it is as contemplated by the Registration
      Statement;

     

    (h)
         Pay any taxes on behalf of the Trust Account (it being expressly
      understood that the Trustee’s sole obligation with respect to taxes shall be to
      issue the checks with respect thereto provided for by Section 2(a) hereof);
      and

    

    (i) Verify
      calculations, qualify or otherwise approve Company requests for distributions
      pursuant to Section 1(i), 2(a) or 2(b) above.

     

    5.
 
      No
      Right of Set-Off.
      The
      Trustee waives any right of set-off or any right, title, interest or claim
      of
      any kind that the Trustee may have against the Property held in the Trust
      Account. In the event the Trustee has a claim against the Company under this
      Agreement, including, without limitation, under Section 3(b), the Trustee will
      pursue such claim solely against the Company and not against the Property held
      in the Trust Account.

    

    6.
      Termination.
      This
      Agreement shall terminate as follows:

     

    (a)
         If the Trustee gives written notice to the Company that it desires
      to resign under this Agreement, the Company shall use its reasonable efforts
      to
      locate a successor trustee during which time the Trustee shall continue to
      act
      in accordance with the terms of this Agreement. At such time the Company
      notifies the Trustee that a successor trustee has been appointed by the Company
      and has agreed to become subject to the terms of this Agreement, the Trustee
      shall transfer the management of the Trust Account to the successor trustee,
      including, but not limited to, the transfer of copies of the reports and
      statements relating to the Trust Account, whereupon this Agreement shall
      terminate; provided, however, that, in the event the Company does not locate
      a
      successor trustee within ninety days of receipt of the resignation notice from
      the Trustee, the Trustee may, but shall not be obligated to, submit an
      application to have the Property deposited with the United States District
      Court
      for the Southern District of New York and upon such deposit, the Trustee shall
      be immune from any liability whatsoever that arises due to any actions or
      omissions to act by any party after such deposit;

      

    (b)
         At such time that the Trustee has completed the liquidation of the
      Trust Account in accordance with the provisions of Section 1(j) hereof, and
      distributed the Property in accordance with the provisions of the Termination
      Letter, this Agreement shall terminate except with respect to Section 3(b);
      or

     

    (c)
         At such time that the Trustee has completed the liquidation of the
      Trust Account and distributed the Property in accordance with Sections 1(j)
      hereof, this Agreement shall terminate except with respect to Section
      3(b).

    

    7.
 
      Miscellaneous.

     

    (a)
         The Company and the Trustee each acknowledge that the Trustee will
      follow the security procedures set forth below with respect to funds transferred
      from the Trust Account. Upon receipt of written instructions, the Trustee will
      confirm such instructions with an Authorized Individual at an Authorized
      Telephone Number listed on the attached Exhibit
      C.
      The
      Company and the Trustee will each restrict access to confidential information
      relating to such security procedures to authorized persons. Each party must
      notify the other party immediately if it has reason to believe unauthorized
      persons may have obtained access to such information, or of any change in its
      authorized personnel. In executing funds transfers, the Trustee will rely upon
      account numbers or other identifying numbers of a beneficiary, beneficiary’s
      bank or intermediary bank, rather than names. The Trustee shall not be liable
      for any loss, liability or expense resulting from any error in an account number
      or other identifying number, provided it has accurately transmitted the numbers
      provided.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)
         This Agreement shall be governed by and construed and enforced in
      accordance with the laws of the State of New York, without giving effect to
      conflict of laws principles that would result in the application of the
      substantive laws of another jurisdiction. It may be executed in several
      counterparts, each one of which shall constitute an original, and together
      shall
      constitute but one instrument. Facsimile signatures shall constitute original
      signatures for all purposes of this Agreement.

     

    (c)
         This Agreement contains the entire agreement and understanding of
      the parties hereto with respect to the subject matter hereof. This Agreement
      or
      any provision hereof may only be changed, amended or modified by a writing
      signed by each of the parties hereto; provided, however, that no such change,
      amendment or modification may be made without the prior written consent of
      Morgan Joseph, who, along with each other Underwriter, the parties
      specifically agree, is and shall be a third party beneficiary for purposes
      of this Agreement; and provided further, any amendment to Section 1(j) shall
      require the vote or consent of holders of 95% of the shares of Common Stock
      sold
      in the IPO. As to any claim, cross-claim or counterclaim in any way relating
      to
      this Agreement, each party waives the right to trial by jury. 
 

     

    (d)
         The parties hereto consent to the jurisdiction and venue of any
      state or federal court located in the State and County of New York for purposes
      of resolving any disputes hereunder. The parties hereto irrevocably submit
      to
      such jurisdiction, which jurisdiction shall be exclusive, and hereby waive
      any
      objection to such exclusive jurisdiction and accept such venue, and waive any
      objection that such courts represent an inconvenient forum.

     

    (e)
         Any notice, consent or request to be given in connection with any
      of the terms or provisions of this Agreement shall be in writing and shall
      be
      sent by express mail or similar private courier service, by certified mail
      (return receipt requested), by hand delivery or by facsimile
      transmission:

     

    if
      to the
      Trustee, to:

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      [              
  ]

    Fax
      No.:
      [               
  ]

     

    if
      to the
      Company, to:

     

    Camden
      Learning Corporation

    500
      East
      Pratt Street, Suite 1200

    Baltimore,
      Maryland 21202

    Attn:
       David L. Warnock, President

    Fax
      No.:
      (410) 878-6850 

    

    in
      either
      case with a copy to:

    

    Morgan
      Joseph & Co. Inc.

    600
      Fifth
      Avenue, 19th
      floor

    New
      York,
      New York 10020

    Attn:
      Gordon Pollock, Managing Director

    Fax
      No.:
      (212) 218-3719

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    and

     

    Ellenoff,
      Grossman & Schole LLP

    370
      Lexington Avenue

    New
      York,
      New York 10017

    Attn:
      Douglas S. Ellenoff, Esq.

    Fax
      No.:
      (212) 370-7889

     

    and

     

    McDermott
      Will & Emery LLP

    340
      Madison Avenue

    New
      York,
      New York 10173

    Attn:
       Joel L. Rubinstein, Esq.

    Fax
      No.:
      (212) 547-5444

    

    (f)
         This Agreement may not be assigned by the Trustee without the prior
      written consent of the Company and Morgan Joseph.

     

    (g)
         Each of the Trustee and the Company hereby represents that it has
      the full right and power and has been duly authorized to enter into this
      Agreement and to perform its respective obligations as contemplated hereunder.
      The Trustee acknowledges and agrees that it shall not make any claims or proceed
      against the Trust Account, including by way of set-off, and shall not be
      entitled to any funds in the Trust Account under any circumstance.

     

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

     

    CONTINENTAL
      STOCK TRANSFER & TRUST COMPANY, as Trustee

     

    By:
      ______________________________________

    Name:
       

    Title:
         

     

    CAMDEN
      LEARNING CORPORATION

     

    By:
      ______________________________________
      

    Name:
      David L. Warnock

    Title:
      Chief Executive Officer

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    Continental
      Stock Transfer

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

     

     Attn:
      [     ]

     

    Re:
        Trust
      Account No. [ ] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to Section 1(j) of the Investment Management Trust Agreement between Camden
      Learning Corporation (“Company”) and Continental Stock Transfer & Trust
      Company (“Trustee”), dated as of [ ], 2007 (“Trust Agreement”), this is to
      advise you that the Company has entered into an agreement (“Business Agreement”)
      with __________________ (“Target Business”) to consummate a business combination
      with Target Business (“Business Combination”) on or about [_______]. The Company
      shall notify you at least 48 hours in advance of the actual date of the
      consummation of the Business Combination (“Consummation Date”). Capitalized
      words used herein and not otherwise defined shall have the meanings ascribed
      to
      them in the Trust Agreement.

     

    In
      accordance with paragraph 2 of Article 6 of the Amended and Restated Certificate
      of Incorporation of the Company, the Business Combination has been approved
      by
      the stockholders of the Company and by the Public Stockholders holding a
      majority of the IPO Shares cast at the meeting relating to the Business
      Combination, and Public Stockholders holding less than 30% of the IPO Shares
      have voted against the Business Combination and given notice of exercise of
      their redemption rights described in paragraph 3 of Article 6 of the Amended
      and
      Restated Certificate of Incorporation of the Company. Pursuant to Section 3(f)
      of the Trust Agreement, we are providing you with [an affidavit] [a certificate]
      of __________, which verifies the vote of the Company’s stockholders in
      connection with the Business Combination. In accordance with the terms of the
      Trust Agreement, we hereby authorize you to commence liquidation of the Trust
      Account to the effect that, on the Consummation Date, all of funds held in
      the
      Trust Account will be immediately available for transfer to the account or
      accounts that the Company shall direct in writing on the Consummation
      Date.

     

    On
      the
      Consummation Date (i) counsel for the Company shall deliver to you written
      notification that (a) the Business Combination has been consummated or will,
      concurrently with your transfer of funds to the accounts as directed by the
      Company, be consummated, and (b) the provisions of Section 11-51-302(6) and
      Rule
      51-3.4 of the CRS have been met, to the extent applicable, and (ii) the Company
      shall deliver to you written instructions with respect to the transfer of the
      funds held in the Trust Account (“Instruction Letter”). You are hereby directed
      and authorized to transfer the funds held in the Trust Account immediately
      upon
      your receipt of the counsel’s letter and the Instruction Letter in
      accordance with the terms of the Instruction Letter. In the event that certain
      deposits held in the Trust Account may not be liquidated by the Consummation
      Date without penalty, you will notify the Company of the same and the Company
      shall direct you as to whether such funds should remain in the Trust Account
      and
      be distributed after the Consummation Date to the Company or be distributed
      immediately and the penalty incurred. Upon the distribution of all the funds
      in
      the Trust Account pursuant to the terms hereof, the Trust Agreement shall be
      terminated.

     

    In
      the
      event that the Business Combination is not consummated on the Consummation
      Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then the funds held
      in
      the Trust Account shall be reinvested as provided in the Trust Agreement on
      the
      business day immediately following the Consummation Date as set forth in the
      notice.

    
      	 	 	 
	 	
              Very
                truly yours,

               

            
	 	
              CAMDEN
                LEARNING CORPORATION

            
	 
 	 
 	 
 
	
            	By:  	 
	 	
              
                

              

              David L. Warnock

              
                Chief
                  Executive Officer

              

            
	 	
            

    

    Cc:
      Morgan Joseph & Co. Inc.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    Continental
      Stock Transfer

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    

     Attn:
      [            
]

     

    Re:
        Trust
      Account No. [ ] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(j) of the Investment Management Trust Agreement between Camden
      Learning Corporation (“Company”) and Continental Stock Transfer & Trust
      Company (“Trustee”), dated as of [ ], 2007 (“Trust Agreement”), this is to
      advise you that the Company has been unable to effect a Business
      Combination (as defined in the Trust Agreement) with a target company within
      the
      time frame specified in the Amended and Restated Certificate of Incorporation
      of
      the Company, as described in the Company’s prospectus relating to its initial
      public offering.

     

    In
      accordance with the terms of the Trust Agreement, we hereby (a) certify to
      you
      that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the CRS have
      been
      met, and (b)authorize you to commence liquidation of the Trust Account as
      promptly as practicable to the stockholders of record on the Last Date (as
      defined in the Trust Agreement). You will notify the Company in writing as
      to when all of the funds in the Trust Account will be available for immediate
      transfer (“Transfer Date”) in accordance with the terms of the Trust Agreement
      and Amended and Restated Certificate of Incorporation of the Company. You shall
      commence distribution of such funds in accordance with the terms of the Trust
      Agreement and the Amended and Restated Certificate of Incorporation of the
      Company and you shall oversee the distribution of such funds. Upon the payment
      of all the funds in the Trust Account, your obligations under the Trust
      Agreement shall be terminated.

    
      	 	 	 
	 	Very truly yours,
	 	 
	 	
              CAMDEN
                LEARNING CORPORATION

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              David
                L. Warnock

              
                Chief
                  Executive Officer

              

            
	 	
            

    

    Cc:
      Morgan Joseph & Co. Inc.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

     

    
      	
              AUTHORIZED
                INDIVIDUAL(S)

              FOR
                TELEPHONE CALL BACK

            	
               

            	
              AUTHORIZED

              TELEPHONE
                NUMBER(S)

            
	 	 	 
	
              Company:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Camden
                Learning Corporation

              500
                East Pratt Street, Suite 1200

              Baltimore,
                Maryland 21202

              Attn:
                 David L. Warnock, President

            	
               

            	
               

               

              (410)
                878-6820

            
	
               

            	
               

            	
               

            
	
              Morgan
                Joseph

              600
                Fifth Avenue, 19th
                floor 

              New
                York, New York 10020

              Attn:
                Gordon Pollock, Managing Director 

            	
               

            	
               (212)
                218-3700

            
	
               

            	
               

            	
               

            
	
              Trustee:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Continental
                Stock Transfer

              &
                Trust Company

              17
                Battery Place

              New
                York, New York 10004

              Attn:
                [       ]

            	
               

            	
               [(
                ) - ]

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      A

    

    Schedule
      of fees pursuant to Section 3(c) of Investment Management Trust
      Agreement

    between
      Camden Learning Corporation and 

    Continental
      Stock Transfer & Trust Company

    

      
        	
                Fee
                  Item

              	
                Time
                  and method of payment 

              	
                Amount

              
	
                Initial
                  acceptance fee

              	
                Initial
                  closing of IPO by wire transfer 

              	
                [$   
                    ]

              
	
                Annual
                  fee

              	
                First
                  year, initial closing of IPO by wire transfer; thereafter on the
                  anniversary of the effective date of the IPO by wire transfer or
                  check

              	
                [$   
                   ]

              
	
                Transaction
                  processing fee for disbursements to Company under Sections 2(a)
                  and
                  2(b)

              	
                Deduction
                  by Trustee from disbursement made to Company under Section
                  2(b)

              	
                [$ 
                     ]

              

      

    

    
      	 	 	 
	 	
              Agreed:

            
	 	 
	 Dated:
              [         ], 2007	Camden
              Learning
              Corporation 
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              David
                L. Warnock

              Chief
                Executive Officer

            

    

    
      	 	 	 
	 	Continental Stock Transfer & Trust
              Co.
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              
Authorized
              OfficerEXHIBIT
      10.3

     

    SECURITIES
      ESCROW AGREEMENT

     

    SECURITIES
      ESCROW AGREEMENT, dated as of
      [          ], 2007 (the
“Agreement”) by and among Camden Learning Corporation, a Delaware corporation
      (the “Company”), the undersigned parties listed as Initial Stockholders on the
      signature page hereto (collectively, the “Initial Stockholders”) and Continental
      Stock Transfer & Trust Company, a New York corporation (the “Escrow
      Agent”).

     

    WHEREAS,
      the Company has entered into an Underwriting Agreement, dated
      [          ], 2007 (“Underwriting
      Agreement”) with Morgan Joseph & Co. Inc. (“Morgan Joseph”) acting as
      representative of the several underwriters (collectively, the “Underwriters”),
      pursuant to which, among other matters, the Underwriters have agreed to
      purchase 4,500,000 units (not including the underwriters’ over-allotment
      option) (“Units”) of the Company. Each Unit consists of one share of the
      Company’s common stock, par value $.0001 per share (the “Common Stock”), and one
      warrant (“Warrant”), each Warrant to purchase one share of Common Stock, all as
      more fully described in the Company’s definitive Prospectus, dated
      [          ], 2007 (“Prospectus”)
      comprising part of the Company’s Registration Statement on Form S-1 (File No.
      333-[          ]) under the
      Securities Act of 1933, as amended (the “Registration Statement”), declared
      effective on [          ], 2007
      (the “Effective Date”).

     

    WHEREAS,
      the Initial Stockholders have agreed, as a condition of the Underwriters’
obligation to purchase the Units pursuant to the Underwriting Agreement and
      to
      offer them to the public, to deposit all of their shares of Common Stock, as
      set
      forth opposite their respective names in Exhibit A attached hereto (collectively
      the “Escrow Shares”), in escrow as hereinafter provided; 

     

    WHEREAS,
      the Company has entered into a Subscription Agreement with one of the Initial
      Stockholders (the “Initial Warrantholder”), dated April
      [          ], 2007 (the
“Subscription Agreement”), pursuant to which the Initial Warrantholder has
      agreed to purchase 2,500,000 warrants (the “Private Warrants”) in a private
      placement transaction;

     

    WHEREAS,
      the Initial Warrantholder has agreed as a condition of the sale of the Private
      Warrants to deposit the Private Warrants (together with the Escrow Shares,
      the
“Escrow Securities”), with the Escrow Agent as hereinafter provided;
      and

     

    WHEREAS,
      the Company and the Initial Stockholders desire that the Escrow Agent accept
      the
      Escrow Securities, in escrow, to be held and disbursed as hereinafter
      provided.

     

    IT
      IS
      AGREED:

     

    1. Appointment
      of Escrow Agent.
      The
      Company and the Initial Stockholders hereby appoint the Escrow Agent to act
      in
      accordance with and subject to the terms of this Agreement and the Escrow Agent
      hereby accepts such appointment and agrees to act in accordance with and subject
      to such terms.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Deposit
      of Escrow Securities.
      On or
      before the Effective Date, each of the Initial Stockholders shall deliver to
      the
      Escrow Agent certificates representing his, her or its respective Escrow Shares,
      to be held and disbursed subject to the terms and conditions of this Agreement.
      Each Initial Stockholder acknowledges and agrees that the certificates
      representing his or her Escrow Securities will bear a legend to reflect the
      deposit of such Escrow Securities under this Agreement.

     

    3. Disbursement
      of the Escrow Securities.
      

     

    3.1 The
      Escrow Agent shall hold the Escrow Shares and the Escrow Warrants until the
      termination of their respective Escrow Period (as defined below). In the case
      of
      the Escrow Shares, the “Escrow Period” shall be the period beginning on the date
      the certificates representing the Shares are deposited with the Escrow Agent
      and
      ending on the date that is twelve (12) months following the consummation of
      the
      initial Business Combination (as such term is defined in the Registration
      Statement). In the case of the Escrow Warrants, the “Escrow Period” shall be the
      period beginning on the date the certificates representing the Warrants are
      deposited with the Escrow Agent and ending on the 90th day after the date of
      the
      consummation of the initial Business Combination. On the termination date of
      the
      applicable Escrow Period, the Escrow Agent shall, upon written instructions
      from
      each Initial Stockholder, disburse each of the Initial Stockholder’s Escrow
      Securities to such Initial Stockholder; provided, however, that if the Escrow
      Agent is notified by the Company pursuant to Section 6.7 hereof that the Company
      is being liquidated at any time during the Escrow Period, then the Escrow Agent
      shall promptly destroy the certificates representing the Escrow Securities;
      provided further, that if, after the Company consummates a Business Combination
      (as such term is
      defined in the Registration Statement), it (or the surviving entity)
      subsequently consummates a liquidation, merger, stock exchange or other similar
      transaction which results in all of its stockholders of such entity having
      the
      right to exchange their shares of Common Stock for cash, securities or other
      property, then the Escrow Agent will, upon consummation of such transaction,
      release the Escrow Securities to the Initial Stockholders so that they can
      similarly participate. The Escrow Agent shall have no further duties hereunder
      after the disbursement or destruction of the Escrow Securities in accordance
      with this Section 3.

     

    3.2 Upon
      written instructions from the Company advising that a Business Combination
      has
      been consummated and that public stockholders holding 20% or more of the shares
      of Common Stock issued pursuant to the Registration Statement exercise the
      right
      to redeem their shares for cash as described in the Registration Statement,
      the
      Escrow Agent will release and deliver to the Company for cancellation on a
      pro
      rata basis certificates representing that number of Escrow Shares (not to exceed
      195,303 in the aggregate) which results in the Initial Stockholders collectively
      owning no more than 23.81% of the Company’s outstanding Common Stock immediately
      prior to the consummation of the Business Combination after giving effect to
      the
      redemption. Such instructions shall set forth both the number of shares the
      Company is redeeming and the number of Escrow Shares to be delivered to the
      Company for cancellation.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4. Rights
      of
      Initial Stockholders in Escrow Securities.

     

    4.1 Voting
      Rights as a Stockholder.
      Subject
      to the terms of the Insider Letters described in Section 4.4 hereof and except
      as herein provided, the Initial Stockholders shall retain all of their rights
      as
      stockholders of the Company during the Escrow Period, including, without
      limitation, the right to vote such shares.

     

    4.2 Dividends
      and Other Distributions in Respect of the Escrow Securities.
      During
      the Escrow Period, all dividends payable in cash with respect to the Escrow
      Securities shall be paid to the Initial Stockholders, but all dividends payable
      in stock or other non-cash property (“Non-Cash Dividends”) shall be delivered to
      the Escrow Agent to hold in accordance with the terms hereof. As used herein,
      the term “Escrow Securities” shall be deemed to include the Non-Cash Dividends
      distributed thereon, if any.

     

    4.3 Restrictions
      on Transfer.
      During
      the Escrow Period, no sale, transfer or other disposition may be made of any
      or
      all of the Escrow Securities except (i) by gift to a member of Initial
      Stockholder’s immediate family or to a trust or other entity, the beneficiary of
      which is an Initial Stockholder or a member of an Initial Stockholder’s
      immediate family, (ii) by virtue of the laws of descent and distribution upon
      death of any Initial Stockholder, (iii) pursuant to a qualified domestic
      relations order, (iv) to an entity that is an Initial Stockholder, (v) to any
      person or entity controlling, controlled by, or under common control with,
      an
      Initial Stockholder or (vi) with respect to an Initial Stockholder who is an
      individual, to an entity controlled by such Initial Stockholder; provided,
      however, that such permitted transfers may be implemented only upon the
      respective transferee’s written agreement to be bound by the terms and
      conditions of this Agreement and of the Insider Letter signed by the Initial
      Stockholder transferring the Escrow Securities. During the Escrow Period, the
      Initial Stockholders shall not pledge or grant a security interest in the Escrow
      Securities or grant a security interest in their rights under this
      Agreement.

     

    4.4 Insider
      Letters.
      Each of
      the Initial Stockholders has executed a letter agreement with Morgan Joseph
      and
      the Company, dated as of the Effective Date, and which is filed as an exhibit
      to
      the Registration Statement (“Insider Letter”), respecting the rights and
      obligations of such Initial Stockholder in certain events, including, but not
      limited to, the liquidation of the Company.

     

    5. Concerning
      the Escrow Agent.

     

    5.1 Good
      Faith Reliance.
      The
      Escrow Agent shall not be liable for any action taken or omitted by it in good
      faith and in the exercise of its own best judgment, and may rely conclusively
      and shall be protected in acting upon any order, notice, demand, certificate,
      opinion or advice of counsel (including counsel chosen by the Escrow Agent),
      statement, instrument, report or other paper or document (not only as to its
      due
      execution and the validity and effectiveness of its provisions, but also as
      to
      the truth and acceptability of any information therein contained) which is
      believed by the Escrow Agent to be genuine and to be signed or presented by
      the
      proper person or persons. The Escrow Agent shall not be bound by any notice
      or
      demand, or any waiver, modification, termination or rescission of this Agreement
      unless evidenced by a writing delivered to the Escrow Agent signed by the proper
      party or parties and, if the duties or rights of the Escrow Agent are affected,
      unless it shall have given its prior written consent thereto.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.2 Indemnification.
      The
      Escrow Agent shall be indemnified and held harmless by the Company from and
      against any expenses, including counsel fees and disbursements, or loss suffered
      by the Escrow Agent in connection with any action, suit or other proceeding
      involving any claim which in any way, directly or indirectly, arises out of
      or
      relates to this Agreement, the services of the Escrow Agent hereunder, or the
      Escrow Securities held by it hereunder, other than expenses or losses arising
      from the gross negligence or willful misconduct of the Escrow Agent. Promptly
      after the receipt by the Escrow Agent of notice of any demand or claim or the
      commencement of any action, suit or proceeding, the Escrow Agent shall notify
      the other parties hereto in writing. In the event of the receipt of such notice,
      the Escrow Agent, in its sole discretion, may commence an action in the nature
      of interpleader in an appropriate court to determine ownership or disposition
      of
      the Escrow Securities or it may deposit the Escrow Securities with the clerk
      of
      any appropriate court or it may retain the Escrow Securities pending receipt
      of
      a final, non appealable order of a court having jurisdiction over all of the
      parties hereto directing to whom and under what circumstances the Escrow
      Securities are to be disbursed and delivered. The provisions of this Section
      5.2
      shall survive in the event the Escrow Agent resigns or is discharged pursuant
      to
      Sections 5.5 or 5.6 below.

     

    5.3 Compensation.
      The
      Escrow Agent shall be entitled to reasonable compensation from the Company
      for
      all services rendered by it hereunder, as set forth on Exhibit B hereto.
      The Escrow Agent shall also be entitled to reimbursement from the Company for
      all expenses paid or incurred by it in the administration of its duties
      hereunder including, but not limited to, all counsel, advisors’ and agents’ fees
      and disbursements and all taxes or other governmental charges.

     

    5.4 Further
      Assurances.
      From
      time to time on and after the date hereof, the Company and the Initial
      Stockholders shall deliver or cause to be delivered to the Escrow Agent such
      further documents and instruments and shall do or cause to be done such further
      acts as the Escrow Agent shall reasonably request to carry out more effectively
      the provisions and purposes of this Agreement, to evidence compliance herewith
      or to assure itself that it is protected in acting hereunder.

     

    5.5 Resignation.
      The
      Escrow Agent may resign at any time and be discharged from its duties as escrow
      agent hereunder by its giving the other parties hereto written notice and such
      resignation shall become effective as hereinafter provided. Such resignation
      shall become effective at such time that the Escrow Agent shall turn over to
      a
      successor escrow agent appointed by the Company and approved by Morgan Joseph,
      the Escrow Securities held hereunder. If no new escrow agent is so appointed
      within the 60 day period following the giving of such notice of resignation,
      the
      Escrow Agent may deposit the Escrow Securities with any court it deems
      appropriate.

     

    5.6 Discharge
      of Escrow Agent.
      The
      Escrow Agent shall resign and be discharged from its duties as escrow agent
      hereunder if so requested in writing at any time by the other parties hereto,
      jointly, provided, however, that such resignation shall become effective only
      upon acceptance of appointment by a successor escrow agent as provided in
      Section 5.5.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    5.7 Liability.
      Notwithstanding anything herein to the contrary, the Escrow Agent shall not
      be
      relieved from liability hereunder for its own gross negligence or its own
      willful misconduct.

     

    6. Miscellaneous.

     

    6.1 Governing
      Law.
      This
      Agreement shall for all purposes be deemed to be made under and shall be
      construed in accordance with the laws of the State of New York. Each of the
      parties hereby agrees that any action, proceeding or claim against it arising
      out of or relating in any way to this Agreement shall be brought and enforced
      in
      the courts of the State of New York or the United States District Court for
      the
      Southern District of New York, and irrevocably submits to such jurisdiction,
      which jurisdiction shall be exclusive. Each of the parties hereby waives any
      objection to such exclusive jurisdiction and that such courts represent an
      inconvenient forum.

     

    6.2 Third
      Party Beneficiaries.
      Each of
      the Initial Stockholders hereby acknowledges that the Underwriters, including,
      without limitation, Morgan Joseph, are third party beneficiaries of this
      Agreement and this Agreement may not be modified or changed without the prior
      written consent of Morgan Joseph.

     

    6.3 Entire
      Agreement.
      This
      Agreement contains the entire agreement of the parties hereto with respect
      to
      the subject matter hereof and, except as expressly provided herein, may not
      be
      changed or modified except by an instrument in writing signed by the party
      to
      the charged.

     

    6.4 Headings.
      The
      headings contained in this Agreement are for reference purposes only and shall
      not affect in any way the meaning or interpretation thereof.

     

    6.5 Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of the respective
      parties hereto and their legal representatives, successors and
      assigns.

     

    6.6 Notices.
      Any
      notice or other communication required or which may be given hereunder shall
      be
      in writing and either be delivered personally or by private national courier
      service, or be mailed, certified or registered mail, return receipt requested,
      postage prepaid, and shall be deemed given when so delivered personally or,
      if
      sent by private national courier service, on the next business day after
      delivery to the courier, or, if mailed, two business days after the date of
      mailing, as follows:

     

    If
      to the
      Company, to:

     

    Camden
      Learning Corporation

    500
      East
      Pratt Street, Suite 1200

    Baltimore,
      Maryland 21202

    Attn:
       David L. Warnock, President

    Fax
      No.:
      (410) 878-6850 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    If
      to a
      Stockholder, to his address set forth in Exhibit A.

     

    and
      if to
      the Escrow Agent, to:

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      [       ]

    Fax
      No.:
      [       ] 

     

    A
      copy of
      any notice sent hereunder shall be sent to:

     

    McDermott
      Will Emery LLP

    340
      Madison Avenue

    New
      York,
      New York 10173

    Attn:
       Joel L. Rubinstein, Esq.

     

    and:

    

    Morgan
      Joseph & Co. Inc.

    600
      Fifth
      Avenue, 19th
      floor

    New
      York,
      New York 10020

    Attn:
      Gordon Pollock, Managing Director

     

    and:

     

    Ellenoff,
      Grossman & Schole LLP

    370
      Lexington Avenue

    New
      York,
      New York 10017

    Attn:
      Douglas S. Ellenoff, Esq.

     

    The
      parties may change the persons and addresses to which the notices or other
      communications are to be sent by giving written notice to any such change in
      the
      manner provided herein for giving notice.

     

    6.7 Liquidation
      of Company.
      The
      Company shall give the Escrow Agent written notification of the liquidation
      and
      dissolution of the Company in the event that the Company fails to consummate
      a
      Business Combination within the time period(s) specified in the
      Prospectus.

     

    6.8 Waiver.
      Notwithstanding anything herein to the contrary, the Escrow Agent hereby waives
      any and all right, title, interest or claim of any kind (“Claim”) in or to any
      distribution of the Trust Account, and hereby agrees not to seek recourse,
      reimbursement, payment or satisfaction for any Claim against the Trust Account
      for any reason whatsoever.

     

    6.9 Counterparts.
      This
      Agreement may be executed in several counterparts each one of which shall
      constitute an original and may be delivered by facsimile transmission and
      together shall constitute one instrument.

     

    [remainder
      of page intentionally left blank]

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    WITNESS
      the execution of this Agreement as of the date first above written.

    

      
        	
                CAMDEN
                  LEARNING CORPORATION

              	 
	 	 
	
                By:
                  

                
                  

                

                David
                  L. Warnock, Chief Executive Officer and President

              	 
	
              	 
	 	 
	
                CONTINENTAL
                  STOCK TRANSFER & TRUST COMPANY

              	 
	 	 
	
                By:

                
                  

                

                
                

              	 
	
                Name:

              	 
	
                Title:

              	 

      

    

    

      
        	 	
                INITIAL
                  STOCKHOLDERS:

              
	 	 
	 	
                CAMDEN
                  LEARNING, LLC

              
	 	 
	 	
                By:
                  Camden Partners Strategic III, LLC

              
	 	
                Its:
                  Manager

              
	 	 
	 	
                By:
                  Camden Partners Strategic Manager, LLC

              
	 	
                Its:
                  Managing Member

              
	 	 
	 	 
	 	
                By:
                  

                
                  

                

                Donald
                  W. Hughes

              
	
                 

              	
                Managing
                  Member

              
	 	 
	 	
                Address:500
                  East Pratt Street

              
	 	
                Baltimore,
                  MD 21202

              
	 	 
	 	 

                

                Jack
                  L. Brozman

              
	 	 
	 	 

                

                Therese
                  Kreig Crane, Ed.D

              

      

       

       

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

       

      
        	 	
                 

                
                  
 Ronald
                  Tomalis

              
	 	 
	 	
                 

                
                  
 Harry
                  T. Wilkins

              
	 	 
	 	
                 

                
                  
 William
                  Jews

              

      

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

    
      	
               Name
                and Address of Initial Stockholder

            	 	
              Number

              of
                Shares

            	 	
              Number

              of
                Warrants

            	 	
              Stock
                Certificate Number

            
	
               

            	 	
               

            	 	
               

            	 	
               

            
	
              Camden
                Learning, LLC

            	 	
              1,000,000

            	 	
              2,500,000

            	 	
               

            
	
              Jack
                L. Brozman

            	 	
              25,000

            	 	
              0

            	 	
               

            
	
              Therese
                Kreig Crane, Ed.D

            	 	
              25,000

            	 	
              0

            	 	
               

            
	
              Ronald
                Tomalis

            	 	
              25,000

            	 	
              0

            	 	
               

            
	
              Harry
                T. Wilkins

            	 	
              25,000

            	 	
              0

            	 	
               

            
	
              William
                Jews

            	 	
              25,000

            	 	
              0

            	 	
               

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

     Escrow
      Agent Fees

     

    $1,800
      annually for acting agent escrow fee.

     

    Initial
      acceptance fee and first year agent fee to be paid at closing.

     

    
      
        
        

      

      
        10

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