Document:

Mount Knowledge Holdings, Inc.: Exhibit 10.3 - Filed by newsfilecorp.com

EXHIBIT B 

SHARE EXCHANGE AGREEMENT 

This SHARE EXCHANGE AGREEMENT (the "Agreement") is made and
entered into this 31st day of December, 2010 by and between MOUNT KNOWLEDGE
HOLDINGS, Inc., a Nevada Corporation (the "Company"), MOUNT KNOWLEDGE ASIA LTD,
a Hong Kong Corporation (the “Company Subsidiary”), and LANGUAGE KEY TRAINING
LTD, a British Virgin Islands corporation, Dirk Haddow, Mark Wood, Chris Durcan
and/or Jeff Tennenbaum, individually (collectively hereinafter referred to as
the "Shareholders"). 

RECITALS 

WHEREAS, Shareholders are the holders and owners of a total of
Three Hundred Twenty-Five Thousand Seven Hundred Ten (325,710) shares of
Ordinary A Stock of Language Key Asia Ltd (the “LK A Shares), represented by one
or more share certificates as set forth Schedule A, attached hereto; and 

WHEREAS, Shareholders are desirous of selling their LK A Shares
to the Company and the Company is desirous of purchasing the LK A Shares,
pursuant to Schedule A herein, pursuant to which the LK A Shares owned and held
by the Shareholders shall be exchanged for shares of Common Stock of the Company
(the “MKHD Shares”), as set forth in Form(s) for Purchase and Exchange, attached
hereto as Exhibit A-1 of the Schedule A..

WHEREAS, Company and Shareholders deem it to be in their
respective best interests to enter into this transaction pursuant to the terms
and conditions of the Definitive Agreement dated October 5, 2010, Amendment No.
1 of Definitive Agreement dated October 29, 2010 and Amendment No. 2 of
Definitive Agreement dated December 31st, 2010, collectively referred to as (the
“Definitive Agreement”) of which this Agreement is made a part thereto. 

NOW, THEREFORE, in consideration of the promises and the mutual
terms, covenants and conditions set forth herein, the Company and the
Shareholders agree as follows: 

AGREEMENT 

1. SHARE PURCHASE AND EXCHANGE. 

1.1. Purchase and Sale of the Company’s Common Stock.
Subject to the terms and conditions of this Agreement, the Shareholders agree to
sell to the Company, and the Company agrees to purchase from the Shareholders a
certain number of shares of LK A Shares for a total aggregate purchase price, as
set forth Schedule A and further referenced in one or more separately executed Form(s) for Purchase and Exchange, attached hereto as Exhibit A-1, by each
Shareholder, respectively. 

1.2. Exchange of the Company’s Common Stock. Subject to
the terms and conditions of this Agreement, the Shareholders agree to transfer
and assign to the Company, their LK A Shares in exchange for the number of MKHD
Shares (the “Share Exchange”), as set forth in one or more separately executed
Form(s) for Purchase and Exchange, attached hereto as Exhibit A-3, with each
Shareholder, respectively. The exchange of LK A Shares for MKHD Shares may
require the exchange of LK A Shares to be completed first with the Company’s
nominee, the Company Subsidiary, and then followed by other exchange,
including by the Company Subsidiary with the Company (the “Subsidiary
Exchange”), so the Share Exchange is completed in a manner consistent with accounting principles. Notwithstanding anything
to the contrary as stated in this Section 1.2, such Subsidiary Exchange shall
not change or effect the number of MKHD Shares each Shareholder is entitled to
receive upon the execution of the Form(s) for Purchase and Exchange, attached
hereto as Exhibit A-3, with each Shareholder, respectively.

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1.3. Release. Shareholders, together with their heirs,
executors, administrators, and assigns, do hereby remise, release and forever
discharge the Company, its respective directors, officers, shareholders,
employees and agents, and their respective successors and assigns, of and from
all claims, causes of action, suits and demands whatsoever which Shareholders
ever had, now or may have howsoever arising out of the original grant (including
rights of pre-emption under the articles of association of the Company). For the
avoidance of doubt and clarification, each of the Shareholders confirm and
acknowledge to the other and the Company through the execution of this Agreement
that that he or it together with its or their heirs, executors, administrators,
and assigns, as the case may be, do hereby waive and relinquish all or any
preemption rights or rights of a nature similar thereto that he or it may have
pursuant to articles of association of the Company with respect to any of the LK
A Shares herein. 

1.4. Mutual Representations. As may required, the
parties will execute and deliver all such further documents (including but not
limited to appropriate instruments of transfers and bought and sold notes), do
or cause to be done all such further acts and things (including but not limited
to payment of stamp duty in Hong Kong), and give all such further assurances as
in the opinion of the Company or its counsel are necessary or advisable to give
full effect to the provisions and intent of this Agreement. 

2. CLOSING AND REQUIRED DOCUMENTS. 

2.1. Closing. Subject to the conditions set forth
herein; the Closing of one or more transactions contemplated by this Agreement
shall occur on the date of execution of one or more Form(s) for Purchase and
Exchange, attached hereto as Exhibit A-3, separately with each Shareholders,
respectively, represented in Schedule A (the "Closing" and the date of Closing
is herein referred to as the "Closing Date"). 

2.2. Required Documents. The Shareholders shall, prior
to each Closing Date, deliver to the Company (or Company Subsidiary, as the case
may be) share certificates and/or executed bought and sole notes and instruments
of transfers evidencing all of the LK A Shares owned and held by Shareholders,
along with a duly executed board resolution of Language Key Asia Limited
accepting the transfer of all the LK A Shares owned and held by Shareholders to
the Company and registration of the Company or Company Subsidiary as the
registered holder thereof subject to stamping. 

2.3. Execution of Documents. Shareholders and Company
mutually agree to execute any and all documentation required to complete the
purchase and exchange of shares as set forth in one or more separately executed
Form(s) of Purchase and Exchange, attached hereto as Exhibit A-3, including the
documents effecting the Subsidiary Exchange as defined in Section 1.2
hereinabove, and “Form of Instrument of Transfer and Bought and Sold Note,”
attached hereto as Exhibit A-4. 

3. Obligations and Delivery. 

3.1. Obligations of the Company. The obligations of
Company to purchase the LK A Shares in accordance with the terms hereof and the
obligation of the Company to exchange said LK A Shares for MKHD Shares in
accordance with the terms hereof shall be subject to and expressly conditioned upon fulfillment of the conditions
recited in Section 1 above and each of the following conditions on or prior to
the Closing Date: 

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	 	 	3.1.1. 	
      Approval of and compliance by all of the parties
      thereto.

	 	 	 	 
	 	 	3.1.2. 	
      All representations and warranties of the Company and
      Shareholders contained herein shall be true and correct in all material
      respects at and as of the Closing with the same force and effect as though
      made at and as of such time.

	 	 	 	 
	 	 	3.1.3. 	
      Company and the Shareholders shall have performed and
      complied with all of the obligations, terms, conditions and agreements
      required to be performed or complied with by it on or prior to the
      Closing.

4. Delivery of Company Certificates and Purchase Price.
The Company or the Company Subsidiary shall deliver to the Shareholders a
certificate or certificates in proper form, series and/or class for the number
of MKHD Shares to be obtained by Shareholders hereby reflecting the purchase
price in an executed Form for Purchase and Exchange, as set forth in Exhibit
A-1. 

4.1. Representations, Warranties and Acknowledgments. In
connection with the purchase and exchange, Company and the Shareholders make the
following representations and warranties: 

	 	 	4.1.1. 	
      By the Company.

	 	 	 	 	 
	 	 		
      Company hereby represents and warrants as
  follows:

	 	 	 	 	 
	 	 		4.1.1.1. 	
      Organization, Good Standing and Qualification.
      Company and Company Subsidiary are corporations duly organized, validly
      existing and in good standing under the laws of the State of Nevada,
      United States of America and the laws of Hong Kong, respectively. Each of
      Company and Company Subsidiary has all requisite corporate power and
      authority to own and operate its business, to execute and deliver this
      Agreement, to (or procure to, as the case may be) issue, sell and deliver
      the MKHD Shares, to carry out the provisions of this Agreement and to
      carry on its business as presently conducted and as presently proposed to
      be conducted. Company is duly qualified and is authorized to do business
      and is in good standing in all jurisdictions in which the nature of its
      activities, which failure to do so could not have, individually or in the
      aggregate, a Material Adverse Effect (as defined herein) on the Company.
      For purposes of this Agreement, with respect to either party, a "Material
      Adverse Effect" shall mean a material adverse effect on the business,
      assets, financial condition or operations of the party and its
      subsidiaries, taken as a whole.

	 	 	 	 	 
	 	 		4.1.1.2. 	
      Validly Issued Shares. When issued in compliance
      with the provisions of this Agreement, the MKHD Shares will be validly
      issued, fully paid and non-assessable, will rank pari passu in all
      respects with all existing issued and outstanding common or preferred
      stock, par value $0.0001 (the "Common or Preferred Stock"), of the Company
      and will be free of any restrictions, limits, claims, liens or other encumbrances; provided,
      however, that the MKHD Shares may be subject to restrictions on transfer
      under applicable securities laws of the United States of America required
      at the time a transfer is proposed.

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	 	 	4.1.1.3. 	
      Authorization; Binding Obligations. All actions on
      the part of the Company or the Company Subsidiary and their officers,
      directors and stockholders necessary for the authorization, execution and
      delivery of this Agreement, the performance of all obligations of the
      Company hereunder and the authorization, sale, issuance and delivery of
      the MKHD Shares pursuant hereto have been taken or will be taken prior to
      the Closing Date, including any actions required to comply with any
      anti-trust laws, if applicable. This Agreement has been duly executed and
      delivered by the Company, and this Agreement is a valid and binding
      obligation of Company enforceable in accordance with its terms, except (a)
      as limited by applicable bankruptcy, insolvency, reorganization,
      moratorium or other laws of general application affecting enforcement of
      creditors' rights and (b) general principles of equity that restrict the
      availability of equitable remedies. The sale of the MKHD Shares is not
      subject to any preemptive or similar rights or rights of first refusal
      that have not been properly waived or complied with.

	 	 	 	 
	 	 	4.1.1.4. 	
      Capitalization. The authorized capital stock of
      the Company consists of 200,000,000 shares of Common Stock at $.0001 par
      value per share and 100,000,000 shares of Series A Preferred Stock, $.0001
      par value per share (the "Common Stock or MKHD Shares"), of which
      approximately 86,633,536 shares of Common Stock were issued and
      outstanding, and no shares of Preferred Stock on the date of execution of
      this Agreement.

	 	 	 	 
	 	 	4.1.1.5. 	
      Consents and Approvals; No Violations. Except for
      the filings, permits, authorizations, consents and approvals as may be
      required under applicable jurisdiction securities laws, stock exchange
      regulations and, if applicable, any anti-trust laws, none of the
      execution, delivery or performance of this Agreement by the Company, the
      consummation by the Company or by the Company Subsidiary of the
      transactions contemplated hereby or compliance by the Company or by the
      Company Subsidiary with any of the provisions hereof will (a) conflict
      with or result in any breach of any provision of the certificate of
      incorporation or by- laws of the Company and/or the Company Subsidiary,
      (b) require any filing with, or permit, authorization, consent or approval
      of, any governmental entity, (c) result in a violation or breach of, or
      constitute (with or without due notice or lapse of time or both) a default
      (or give rise to any right of termination, cancellation or acceleration)
      under, any of the terms, conditions or provisions of any note, bond,
      mortgage, indenture, lease, license, contract, agreement or other
      instrument or obligation to which the Company or any of its material
      subsidiaries is a party or by which any of them or any of their respective
      properties or assets may be bound, or (d) violate any order, writ,
      injunction,

4

	 		
      decree, statute, rule or regulation applicable to the
      Company, any of its material subsidiaries or any of their properties or
      assets, excluding from the foregoing clauses (b), (c) and (d) such
      violations, breaches or defaults which would not, individually or in the
      aggregate, have a material adverse effect on the Company's ability to
      consummate the transactions.

	 	 	 	 
	 		4.1.1.6. 	
      Listing. The MKHD Shares have been approved for
      listing on the Over-the-Counter Bulletin Board (OTCBB:MKHD) exchange in
      the United States of America, governed by the Securities and Exchange
      Commission (SEC) and the Securities Act of 1933, as amended (the "1933
      Act") as of the date of execution of the Agreement.

	 	 	 	 
	 	4.1.2. 	
      By Shareholders. The Shareholders, when applicable
      and when the appropriate documentation has been executed by each
      respective Shareholder required to complete the purchase and exchange of
      the MKHD Shares as defined herein, the Shareholders shall, jointly and
      severally, acknowledge the following:

	 	 	 	 
	 		4.1.2.1. 	
      Ownership of the Stock. Shareholders shall
      represent that each Shareholder, individually, shall have good and
      marketable title to the MKHD Shares purchased and exchanged by the Company
      hereunder, free and clear of all claims, liens, encumbrances, charges,
      assessments or other rights or interests of any person. There are no
      restrictions with respect to the transferability of the MKHD Shares in the
      Company in accordance with the terms of this Agreement, and upon transfer
      of the MKHD Shares in the Company, the holder thereof will receive good
      and marketable title to the Common Shares, free and clear of all claims,
      liens, encumbrances, charges, assessments and restrictions or other rights
      or interest of other persons whatsoever.

	 	 	 	 
	 		4.1.2.2. 	
      No Obligation to Dispose of MKHD Shares.
      Shareholders shall confirm that no contemplated agreements, undertakings,
      arrangements, obligations, indebtedness or commitments providing for or
      which is likely to compel a disposition of the MKHD Shares, upon
      completion of the share exchange defined herein in this
  Agreement.

	 	 	 	 
	 		4.1.2.3. 	
      Exemption from Registration. Shareholders
      acknowledge that said MKHD Shares are not being registered under the
      Securities Act of 1933, as amended (the "1933 Act"), based, in part, on
      reliance that the issuance of the Shares is exempt from registration under
      the 1933 Act.

	 	 	 	 
	 		4.1.2.4. 	
      Restrictive Legends. In order to reflect the
      restrictions on disposition of the MKHD Shares, the stock certificates for
      the MKHD Shares will be endorsed with restrictive legends, including the
      following legends:

5

	 		
      (i) THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE
      SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED,
      HYPOTHECATED OR OTHERWISE TRANSFERRED UNLESS THERE IS AN EFFECTIVE
      REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES OR THE
      ISSUER RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO IT STATING THAT SUCH
      SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
      REQUIREMENTS OF SUCH ACT AND STATE SECURTIES LAWS.

	 	 	 
	 		
      (ii) THE SHARES REPRESENTED BY THIS CERTIFICATE ARE
      SUBJECT TO THE TERMS AND CONDITIONS OF A COMMON STOCK SUBSCRIPTION
      AGREEMENT BETWEEN THE ISSUER AND THE HOLDER OF THE SECURITIES EVIDENCED
      HEREBY (OR SUCH HOLDERS PREDECESSOR IN COMPANY) AND THE ISSUER'S
      BYLAWS.

	 	 	 
	 		
      (iii) Any other legends required by state securities
      laws.

	 	 	 
	 	4.1.2.5. 	
      Information Availability. Shareholders shall
      further acknowledge that they have individually and collectively had
      access to information about the Company, including a summary of its
      overall business, public filings, etc., and have been given the
      opportunity and have been encouraged to ask any questions and receive
      additional information that they consider relevant in making a decision to
      accept this Agreement.

5. Survival of Representation and Warranties. The
representations of the Shareholders contained herein shall survive the Closing
contemplated hereby and any investigation by the Company with respect thereto.

6. Indemnification of the Company. Shareholders shall
defend, indemnify and hold the Company harmless from and against any damage,
deficiency, loss or liability resulting from any misrepresentation, omission,
breach of warranty or non-fulfillment of any part of this Agreement by
Shareholders, and any and all actions, suits, proceedings, demands, assessments,
judgments, costs and expenses incident thereto. 

7. Failure of Conditions Precedent. To the extent that
any condition precedent to the obligations of the Company hereunder is not met
by Shareholders, Company may, at its option, either waive such condition and
complete the transactions contemplated hereby on the terms and conditions
otherwise contained herein, or decline to purchase or exchange the shares,
whereupon this Agreement will terminate and Company shall be subject to no
liability whatsoever to the Shareholders. If the transactions contemplated in
this Agreement is not consummated for such
reason, or for any other reason, neither party shall be liable to the other for loss, damage, or expense, and the only remedy to either party shall be to terminate this Agreement. 

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8. Miscellaneous. 

8.1. Stamp Duty, Legal and Accounting Fees. All stamp duties payable in Hong Kong in connection with the sale and purchase of shares in LK Asia Ltd. shall be borne by the respective transferees and transferors in equal shares. The
Shareholders, the Company and Company Subsidiary shall each be responsible to pay their respective legal and accounting fees incurred by them in connection with the transactions contemplated by this Agreement, unless otherwise mutually agreed to in
writing. 

8.2. Waiver of Breach. All waivers under this Agreement shall be in writing. Any waiver by a party of the breach of any provision or of any condition precedent of this Agreement shall not operate as a waiver of any subsequent breach of that
provision or as a waiver of the breach of any other provision or of any other condition precedent.

8.3. Severability. If any one or more provisions of this Agreement shall be adjudged or declared illegal or unenforceable, the same shall not in any way affect or impair the validity or enforceability of all or any other provision of this
Agreement. 

8.4. Governing Law. This Agreement and the performance hereof shall be construed and interpreted in accordance with the laws of Nevada, United States of America. Any dispute arising under or out of this Agreement shall be submitted for
resolution to an applicable state or federal court of competent jurisdiction that is located in Nevada, United States of America. All legal formality according to the laws of Hong Kong shall be duly observed by the parties hereunder in order for the
contemplated share transfers in LK Asia Ltd. to be valid and legally recognized under the laws of Hong Kong, without regard to conflict of laws principles. 

8.5. Venue; Waivers.  The Shareholders, Company and Company Subsidiary irrevocably agree that all actions or proceedings in any way, manner or respect, arising out of or from or related to this agreement shall be litigated in courts having
situs within the State of Nevada, United States of America. The Shareholders and Company hereby waive any right they may have to transfer or change the venue of any litigation brought by another party hereto in accordance with this paragraph. 

8.6 Assignment.  No party may assign its rights, interest or obligations under this Agreement without the prior approval in writing of the other party. 

8.7  No Third Party Beneficiaries.  This Agreement shall not confer any rights or remedies on any Person other than the parties and their respective successors and permitted assigns.

8.8  Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto in connection with the subject matter hereof. This Agreement may not be modified, amended, altered or extended orally, and no modification shall be
effective unless in writing and signed by the parties hereto. 

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

 7

8.10 Notices. All notices, requests, demands and other
communications required or permitted to be given hereunder shall be in writing,
and shall be deemed to have been given, when received, if delivered in person or
by a reputable courier service (such as Federal Express), or three (3) business
days following mailing, if mailed by certified mail, return receipt requested,
postage prepaid, as follows: 

	 	IF TO SHAREHOLDERS: 	THE LANGUAGE KEY TRAINING LTD., 
	 	  	DIRK HADDOW, MARK WOOD, CHRIS DURCAN, 
	 	  	AND/OR JEFF TENNENBAUM 
	 	  	  
	 	  	  
	 	  	10/F, China Merchants Commercial Building

	 	  	15-16 Connaught Road West 
	 	  	Sheung Wan, Hong Kong 
	 	  	Attn: Dirk Haddow, CEO 
	 	  	  
	 	  	Ph. (85) 221470519 
	 	  	Fx. (85) 225173534 
	 	  	Email: training@languagekey.com 
	 	  	  
	 	  	  
	 	IF TO COMPANY OR 	MOUNT KNOWLEDGE HOLDINGS, INC. 
	 	COMPANY SUBSIDIARY: 	  
	 	  	39555 Orchard Hill Place 
	 	 	Suite 600 PMB
  6096  
	 		 Novi, Michigan
    48375  
	 	  	Attn: Daniel A. Carr, President and CEO 
	 	  	  
	 	  	Ph. (248) 468-4688 
	 	  	Fx. (248) 671-5080 
	 		Email:
    dcarr@mkhd.net  

8.11 Exhibits and Schedules. The Exhibits and Schedules
attached hereto constitute an integral part of this Agreement. Terms defined in
this Agreement that are used in any Exhibit or Schedule attached hereto and are
not otherwise defined therein shall have the meanings assigned to such terms in
this Agreement. Terms defined in any Exhibit or Schedule attached hereto that
are used in this Agreement or in any other Exhibit or Schedule which are not
otherwise defined herein shall have the meanings assigned to such terms in such
Exhibit or Schedule. 

8.12 Headings. The headings contained in this Agreement
are for convenience of reference only and shall not affect the meaning and
interpretation of this Agreement. 

8.13 Counterparts. This Agreement may be executed in
multiple counterparts, each of which will be considered an original but all of
which will constitute the same instrument, notwithstanding that fewer than all
of the parties have signed the same counterpart. A counterpart signature page
transmitted by facsimile machine will be given the same effect as an original
signature page. Any party signing this Agreement by facsimile must provide the
other parties with a manually signed signature page within ten (10) days after
the date of this Agreement. 

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IN WITNESS WHEREOF, the parties hereto have placed their
signatures hereon on the day and year first above written. 

	WITNESSES: 	 	SHAREHOLDERS (Sellers) 
	  	 	  
	  	 	  
	  	 	LANGUAGE KEY TRAINING LTD., 
	  	 	A British Virgin Island Corporation 
	Print Name: 	 	  
	  	 	  
	  	 	  
	  	 	  
	  	 	/s/
      Dirk Haddow 
	  	 	BY: Dirk Haddow 
	Print Name: 	 	ITS: President and CEO 
	  	 	  
		 	
	  	 	  
	Print Name: 	 	  
	  	 	  
	  	 	  
	  	 	  
	  	 	/s/
      Dirk Haddow 
	  	 	BY: Dirk Haddow, Individually 
	Print Name: 	 	  

9

	WITNESSES: 	 	 
	 	 	 
	 	 	 
	 	 	 
	Print Name: 	 	 
	  	 	 
	 	 	 
	                                                                                                                                   	 	/s/ Mark Wood  
	                                                                                                                                   	 	BY: Mark Wood, Individually  
	Print Name: 	 	 

10 

	WITNESSES: 	 	 
	 	 	 
	 	 	 
	 	 	 
	Print Name: 	 	 
	  	 	 
	 	 	 
	                                                                                                                                   
    	 	/s/ Chris Durcan 
	                                                                                                                                   	 	BY: Chris Durcan,
Individually  
	Print Name: 	 	 

11

	WITNESSES: 	 	 
	 	 	 
	 	 	 
	 	 	 
	Print Name: 	 	 
	  	 	 
	 	 	 
	                                                                                                                                   
    	 	/s/ Jeff Tennenbaum 
	                                                                                                                                   
    	 	BY: Jeff Tennenbaum, Individually 
	Print Name: 	 	 

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	WITNESSES: 	 	COMPANY (Purchasers) 
	  	 	  
	  	 	  
	  	 	MOUNT KNOWLEDGE HOLDINGS, INC, 
	  	 	A Nevada Corporation 
	Print Name: 	 	  
	  	 	  
	  	 	  
	  	 	/s/
      Daniel A. Carr 
	  	 	BY: Daniel A. Carr 
	Print Name: 	 	ITS: President and CEO 

[-Signature Page to Share Exchange Agreement-]

13

SCHEDULE A 

PAYMENT AND DELIVERY SCHEDULE 

1. Shareholders of Record. The following list referenced
herein below represents the Shareholders of record on the date of execution of
this Agreement which own and/or hold shares of Ordinary A Stock in the Language
Key Asia Ltd. (the “LK “A” Shares”) and are entitled to sell/exchange their LK A
Shares for shares of restricted common stock of Mount Knowledge Holdings, Inc.
(the “MKHD Shares”), as set forth hereinbelow.

	 	  	  	Company 	 
	 	  	  	LK “A” Shares 	 
	 	  	  	Held / Owned 	 
	 	  	  	  	 
	 	  	  	  	 
	 	(a) 	Language Key Training Ltd. (BVI) 	1,282 	 
	 	  	10/F, China Merchants Commercial Building 	  	 
	 	  	15-16 Connaught Road West 	  	 
	 	  	Sheung Wan, Hong Kong 	  	 
	 	  	  	  	 
	 	(b) 	Dirk Haddow 	100,000 	 
	 	  	11G Seabird Lane 	  	 
	 	  	Beach Village 	  	 
	 	  	Discovery Bay 	  	 
	 	  	Lantau Island 	  	 
	 	  	Hong Kong 	  	 
	 	  	  	  	 
	 	(c) 	Mark Wood 	100,000 	 
	 	  	Flat B, Floor 2 	  	 
	 	  	Cherish Court 	  	 
	 	  	Peninsula Village Phase 4 	  	 
	 	  	2 Capeland Drive 	  	 
	 	  	Discovery Bay 	  	 
	 	  	Lantau Island 	  	 
	 	  	Hong Kong 	  	 
	 	  	  	  	 
	 	(d) 	Christopher Durcan 	100,000 	 
	 	  	74 North Parade 	  	 
	 	  	Grantham 	  	 
	 	  	England 	  	 
	 	  	NG31 8AN 	  	 
	 	  	  	  	 
	 	(e) 	Jeff Tennenbaum 	24,428 	 
	 	  	33 East Riding Drive 	  	 
	 	  	Cherry Hill, NJ 08003 	  	 
	 	  	  	  	 
	 	Total number of shares of Ordinary A
      Shares of 	  	 
	 	Language Key Asia Ltd. owned by
      Shareholders: 	325,710 	 
	 	  	  	  	 
	 	Number of shares of Ordinary A Shares
      of 	  	 
	 	Language Key Asia Ltd being sold to
      the Company: 	325,710 	 

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2. Share Exchange Consideration. Pursuant to the terms
and conditions of the share exchange contemplated in this Agreement, the
Shareholders agree to sell a total of Three Hundred Twenty-Five Thousand Seven
Hundred Ten (325,710) shares of Ordinary A Stock in Language Key Asia Ltd (the
“LK A Shares”) and Company agrees to purchase all the LK “A” Shares as set forth
in this Schedule A, Section 1, hereinabove, in the form of a share exchange in
an amount equal to a total of One Million Eight Hundred (1,800,000) shares of
Common Stock of Mount Knowledge Holdings, Inc. (the “MKHD Shares”), on a
pro-rata basis equivalent to the number of shares of each Shareholder as set
forth in one or more executed Form(s) for Purchase and Exchange, attached hereto
as Exhibit A-1. 

[Remaining page intentionally left blank]

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EXHIBIT A-1 

FORM FOR PURCHASE AND EXCHANGE 

Pursuant to the terms and conditions set forth in Schedule A of
this Agreement, the undersigned Shareholder agrees to sell a pro-rata number of
shares of Ordinary A Stock in LANGUAGE KEY ASIA LTD (the “LK A Shares”) owned
and held by Shareholder in exchange for a certain number of Shares of Common
Stock in MOUNT KNOWLEDGE HOLDINGS, INC. (the “MKHD Shares”) as set forth
hereinbelow.

The following represents a Shareholder of record on the Closing
Date (the date of execution of this Form for Purchase and Exchange) which owns
and/or holds a certain number of LK A Shares to be exchange for MKHD Shares as
represented hereinbelow. This form is required to be completed and executed for
each Shareholder representing the Shares sold, purchased and exchanged as set
forth herein. 

[Remaining page intentionally left blank] 

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Shareholder of Record: Dirk Haddow 

	Total number of shares of Ordinary A Stock of 	  
	Language Key Asia Ltd. owned and held by Shareholder: 	__100,000___________ 
	  	  
	Number of shares of Ordinary A Stock in 	  
	Language Key Asia Ltd to be sold to the Company: 	__100,000___________ 
	  	  
	Purchase price for shares of Ordinary A Stock 	  
	to be sold to the Company: 	$1.00 (Par Value) 
	  	  
	Exchange Multiple (Ratio): 	( * ) 
	  	  
	Number of Common Shares of the Company to be Issued and 	  
	Exchanged for Common Shares of Language Key Asia Ltd. 	_590,803____________

{* The Exchange Multiple (Ratio) may vary due to
publicly-traded share price of the MKHD Share on the date of execution of this
FORM FOR PURCHASE AND EXCHANGE. Furthermore, the monetary value
(or “Fair Market Value”) of the MKHD Shares issued to each
Shareholder shall be calculated by taking the total amount of MKHD Shares
exchanged with each Shareholder multiplied by the per share price at closing of
the MKHD Shares on the previous day from the date of execution of this Agreement
(e.g. total of 1,800,000 Shares x per share price of $0.30 = USD
$540,000.00), with a certain value attributable to each Shareholder on a
pro-rated basis equivalent to the total number of MKHD issued to each
Shareholder, respectively.} 

Shareholder further understands and agrees to a thirty-six (36)
month sale restriction on the entire amount of MKHD Shares received subsequent
to any restrictions of SEC Rule 144 of the Act, if applicable, pursuant to the
MKHD Shares exchanged as set forth herein from the date of issuance, with thirty
(30%) percent of said MKHD Shares shall be released after twelve (12) months
from the date of issuance, followed by the release of another thirty-five (35%)
percent after twenty-four (24) months and the remaining thirty-five (35%)
percent after thirty-six (36) months (the “Additional Sale Restriction”). The
beneficial holder(s) of said MKHD Shares shall execute a letter of
acknowledgment of said Additional Sale Restriction upon the issuance of and
prior to the receipt of said MKHD Shares, if required by the Company. 

Agreed and accepted this 31st day of December, 2010. 

	SHAREHOLDER (SELLER) 	 	COMPANY (PURCHASER) 
	 	 	 
	Dirk Haddow 	 	MOUNT KNOWLEDGE HOLDINGS, INC., 
	  	 	A Nevada Corporation 
	  	 	 
	/s/ Dirk
      Haddow 	 	/s/
      Daniel A. Carr 
	 	 	 
	By: 	 	By: Daniel A. Carr 
	Its: 	 	Its: President and CEO 

17

Shareholder of Record: Christopher Durcan

	Total number of shares of Ordinary A Stock of 	  
	Language Key Asia Ltd. owned and held by Shareholder: 	__100,000___________ 
	  	  
	Number of shares of Ordinary A Stock in 	  
	Language Key Asia Ltd to be sold to the Company: 	__100,000___________ 
	  	  
	Purchase price for shares of Ordinary A Stock 	  
	to be sold to the Company: 	$1.00 (Par Value) 
	  	  
	Exchange Multiple (Ratio): 	( * ) 
	  	  
	Number of Common Shares of the Company to be Issued and 	  
	Exchanged for Common Shares of Language Key Asia Ltd. 	_590,803____________

{* The Exchange Multiple (Ratio) may vary due to
publicly-traded share price of the MKHD Share on the date of execution of this
FORM FOR PURCHASE AND EXCHANGE. Furthermore, the monetary value
(or “Fair Market Value”) of the MKHD Shares issued to each
Shareholder shall be calculated by taking the total amount of MKHD Shares
exchanged with each Shareholder multiplied by the per share price at closing of
the MKHD Shares on the previous day from the date of execution of this Agreement
(e.g. total of 1,800,000 Shares x per share price of $0.30 = USD
$540,000.00), with a certain value attributable to each Shareholder on a
pro-rated basis equivalent to the total number of MKHD issued to each
Shareholder, respectively.} 

Shareholder further understands and agrees to a thirty-six (36)
month sale restriction on the entire amount of MKHD Shares received subsequent
to any restrictions of SEC Rule 144 of the Act, if applicable, pursuant to the
MKHD Shares exchanged as set forth herein from the date of issuance, with thirty
(30%) percent of said MKHD Shares shall be released after twelve (12) months
from the date of issuance, followed by the release of another thirty-five (35%)
percent after twenty-four (24) months and the remaining thirty-five (35%)
percent after thirty-six (36) months (the “Additional Sale Restriction”). The
beneficial holder(s) of said MKHD Shares shall execute a letter of
acknowledgment of said Additional Sale Restriction upon the issuance of and
prior to the receipt of said MKHD Shares, if required by the Company. 

Agreed and accepted this 31st day of December, 2010. 

	SHAREHOLDER (SELLER) 	 	COMPANY (PURCHASER) 
	 	 	 
	Christopher Durcan 	 	MOUNT KNOWLEDGE HOLDINGS, INC., 
	  	 	A Nevada Corporation 
	  	 	 
	/s/ Christopher
      Durcan 	 	/s/
      Daniel A. Carr 
	 	 	 
	By: 	 	By: Daniel A. Carr 
	Its: 	 	Its: President and CEO 

18

Shareholder of Record: Mark Wood 

	Total number of shares of Ordinary A Stock of 	  
	Language Key Asia Ltd. owned and held by Shareholder: 	__100,000___________ 
	  	  
	Number of shares of Ordinary A Stock in 	  
	Language Key Asia Ltd to be sold to the Company: 	__100,000___________ 
	  	  
	Purchase price for shares of Ordinary A Stock 	  
	to be sold to the Company: 	$1.00 (Par Value) 
	  	  
	Exchange Multiple (Ratio): 	( * ) 
	  	  
	Number of Common Shares of the Company to be Issued and 	  
	Exchanged for Common Shares of Language Key Asia Ltd. 	_474,685____________

{* The Exchange Multiple (Ratio) may vary due to
publicly-traded share price of the MKHD Share on the date of execution of this
FORM FOR PURCHASE AND EXCHANGE. Furthermore, the monetary value
(or “Fair Market Value”) of the MKHD Shares issued to each
Shareholder shall be calculated by taking the total amount of MKHD Shares
exchanged with each Shareholder multiplied by the per share price at closing of
the MKHD Shares on the previous day from the date of execution of this Agreement
(e.g. total of 1,800,000 Shares x per share price of $0.30 = USD
$540,000.00), with a certain value attributable to each Shareholder on a
pro-rated basis equivalent to the total number of MKHD issued to each
Shareholder, respectively.} 

Shareholder further understands and agrees to a thirty-six (36)
month sale restriction on the entire amount of MKHD Shares received subsequent
to any restrictions of SEC Rule 144 of the Act, if applicable, pursuant to the
MKHD Shares exchanged as set forth herein from the date of issuance, with thirty
(30%) percent of said MKHD Shares shall be released after twelve (12) months
from the date of issuance, followed by the release of another thirty-five (35%)
percent after twenty-four (24) months and the remaining thirty-five (35%)
percent after thirty-six (36) months (the “Additional Sale Restriction”). The
beneficial holder(s) of said MKHD Shares shall execute a letter of
acknowledgment of said Additional Sale Restriction upon the issuance of and
prior to the receipt of said MKHD Shares, if required by the Company. 

Agreed and accepted this 31st day of December, 2010. 

	SHAREHOLDER (SELLER) 	 	COMPANY (PURCHASER) 
	 	 	 
	Mark Wood 	 	MOUNT KNOWLEDGE HOLDINGS, INC., 
	  	 	A Nevada Corporation 
	  	 	 
	/s/ Mark
      Wood 	 	/s/
      Daniel A. Carr 
	 	 	 
	By: 	 	By: Daniel A. Carr 
	Its: 	 	Its: President and CEO 

19

Shareholder of Record: Jeff Tennenbaum 

	Total number of shares of Ordinary A Stock of 	  
	Language Key Asia Ltd. owned and held by Shareholder: 	__24,428___________ 
	  	  
	Number of shares of Ordinary A Stock in 	  
	Language Key Asia Ltd to be sold to the Company: 	__24,428___________ 
	  	  
	Purchase price for shares of Ordinary A Stock 	  
	to be sold to the Company: 	$1.00 (Par Value) 
	  	  
	Exchange Multiple (Ratio): 	( * ) 
	  	  
	Number of Common Shares of the Company to be Issued and 	  
	Exchanged for Common Shares of Language Key Asia Ltd. 	_143,709____________

{* The Exchange Multiple (Ratio) may vary due to
publicly-traded share price of the MKHD Share on the date of execution of this
FORM FOR PURCHASE AND EXCHANGE. Furthermore, the monetary value
(or “Fair Market Value”) of the MKHD Shares issued to each
Shareholder shall be calculated by taking the total amount of MKHD Shares
exchanged with each Shareholder multiplied by the per share price at closing of
the MKHD Shares on the previous day from the date of execution of this Agreement
(e.g. total of 1,800,000 Shares x per share price of $0.30 = USD
$540,000.00), with a certain value attributable to each Shareholder on a
pro-rated basis equivalent to the total number of MKHD issued to each
Shareholder, respectively.} 

Shareholder further understands and agrees to a thirty-six (36)
month sale restriction on the entire amount of MKHD Shares received subsequent
to any restrictions of SEC Rule 144 of the Act, if applicable, pursuant to the
MKHD Shares exchanged as set forth herein from the date of issuance, with thirty
(30%) percent of said MKHD Shares shall be released after twelve (12) months
from the date of issuance, followed by the release of another thirty-five (35%)
percent after twenty-four (24) months and the remaining thirty-five (35%)
percent after thirty-six (36) months (the “Additional Sale Restriction”). The
beneficial holder(s) of said MKHD Shares shall execute a letter of
acknowledgment of said Additional Sale Restriction upon the issuance of and
prior to the receipt of said MKHD Shares, if required by the Company. 

Agreed and accepted this 31st day of December, 2010. 

	SHAREHOLDER (SELLER) 	 	COMPANY (PURCHASER) 
	 	 	 
	Jeff Tennenbaum 	 	MOUNT KNOWLEDGE HOLDINGS, INC., 
	  	 	A Nevada Corporation 
	  	 	 
	/s/ Jeff
      Tennenbaum 	 	/s/
      Daniel A. Carr 
	 	 	 
	By: 	 	By: Daniel A. Carr 
	Its: 	 	Its: President and CEO 

20

EXHIBIT A-2 

FORM OF INSTRUMENT OF TRANSFER AND 
BOUGHT AND SOLD
NOTES 

See attached. 

 

21Mount Knowledge Holdings, Inc.: Exhibit 10.4 - Filed by newsfilecorp.com

EXHIBIT F 

PROMISSORY NOTE 

	Maximum Amount: USD $ 65,776.00 	Date of Issuance: December 31, 2010
  

FOR VALUE RECEIVED, the undersigned, Language Key Training
Ltd,, a Hong Kong corporation, a subsidiary of LK Asia ("Debtor"), promises to
pay to Foxglove International Enterprises Ltd., a BVI company ("Creditor"), the
Principal Amount (as defined below). This Promissory Note (this "Note") is made
and delivered pursuant to that certain Definitive Agreement dated October 5,
2010, Amendment No. 1 of Definitive Agreement dated October 29, 2010 and
Amendment No. 2 of Definitive Agreement dated December 31, 2010, collectively
referred to as (the “Definitive Agreement”) of which this Agreement is made a
part thereto, between THE LANGUAGE KEY TRAINING LTD, a British Virgin Islands
Corporation(the “Creditor”), and LANGUAGE KEY ASIA LTD, a Hong Kong Corporation
(the “Debtor”) 

A.     Payment Terms. 

1. Principal and Interest Payment. The Principal Amount
hereunder (the "Obligation”) shall be due and payable in twelve (12) equal
payments of Five Thousand Four Hundred Eighty-One and 33/100 Dollars (USD
$5,481.33) in the form cash payments (wire transfer), with the first payment due
on or before December 31, 2010 and subsequent monthly payments on the last day
of each month until paid in the full. 

2. Prepayment . Debtor shall have the right at any time
and from time to time to prepay, in whole or in part, the principal of this
Note, without payment of any premium or penalty.. 

3. Form of Payments . Principal and all other amounts
due hereunder are to be paid in lawful money of the United States of America in
federal or other immediately available funds. 

4. Right to Set-off . The Debtor hereby has a right to
set-off and/or apply any and all amounts owed to Debtor, its subsidiaries and
affiliates by Creditor, its subsidiaries and affiliates pursuant to any
agreement or arrangement between Debtor, Creditor and/or their respective
subsidiaries and affiliates, against any all amounts owed by Debtor to Creditor
pursuant to this Note. Neither the exercise nor failure to exercise such right
of set-off will constitute an election of remedies or limit the Debtor, its
subsidiaries and affiliates in any manner in the enforcement of any other
remedies that may be available to it under this Note or any other agreement or
arrangement between Debtor, Creditor and/or their respective subsidiaries and
affiliates. 

B.     Events of Default. 

1. DEFINITION OF EVENT OF DEFAULT. THE OCCURRENCE OF ANY
ONE OR MORE OF THE FOLLOWING EVENTS SHALL CONSTITUTE AN "EVENT OF
DEFAULT' HEREUNDER: 

a) Debtor's breach of the obligation to pay any amount payable
hereunder within five (5) days after the date that it is due and payable; 

b) Debtor's institution of proceedings against it, or Debtor's
filing of a petition or answer or consent seeking reorganization or release,
under the federal Bankruptcy Code, or any other applicable law relating to
creditor rights and remedies, or Debtor's consent to the filing of any such
petition or the appointment of a receiver, liquidator, assignee, trustee or
other similar official of Debtor or of any substantial part of its property, or
Debtor's making of an assignment for the benefit of creditors, or the taking of
corporate action in furtherance of such action; or 

c) the entry of any judgment or order against Debtor which
could reasonably be expected to have a material adverse effect on Debtor's
business and which remains unsatisfied or undischarged and in effect for thirty
(30) days after such entry without a stay of enforcement or execution, 

2. RIGHTS AND REMEDIES ON EVENT OF DEFAULT . UPON THE
OCCURRENCE OF AN EVENT OF DEFAULT, AS PROVIDED IN SECTION A.2 ABOVE, CREDITOR
MAY DECLARE THE PAYMENT OF THE AMOUNTS DUE BY DEBTOR HEREUNDER AND ENFORCE THIS
NOTE BY EXERCISE OF THE RIGHTS AND REMEDIES GRANTED TO IT BY APPLICABLE LAW.

C.     Other Provisions . 

1. Governing Law. Time: Venue: Attorney's Fees. This
Note shall be governed by Hong Kong law, without giving effect to conflicts of
law principles. Time is of the essence hereunder. Each party consents to the
non-exclusive jurisdiction and venue of jurisdiction of Hong Kong, if
applicable, in any action, suit or proceeding arising out of or related to this
Note. In the event that any suit or action is instituted to enforce any
provisions in this Note, the substantially prevailing party in such dispute
shall be entitled to recover from the losing party such reasonable fees and
expenses of attorneys and accountants, which shall include, without limitation,
all fees, costs and expenses of appeals. 

2. Notices . All notices, demands and other
communications which a party may desire, or may be required, to give to another
shall be in writing, shall be delivered personally against receipt, or sent by
recognized overnight courier service, or mailed by registered or certified mail,
return receipt requested, postage prepaid, or sent by telecopy, and shall be
addressed to the party to be notified as follows: 

	 	If to Debtor: 	Dirk Haddow 
	 	  	10/F China Merchants Commercial Building 
	 	  	15-16 Connaught Road West 
	 	  	Sheung Wan, Hong Kong. 
	 	  	  
	 	If to Creditor: 	The Language Key Ltd. BVI 
	 	  	10/F China Merchants Commercial Building 
	 	  	15-16 Connaught Road West 
	 	  	Sheung Wan, Hong Kong. 

2

Any such notice, demand, or communication shall be deemed given
when received if personally delivered or sent by overnight courier. A party's
address may be changed by notice given in accordance with this subsection. 

3. Creditor's Rights. Debtor Waivers. Creditor's failure
to exercise any right hereunder, shall not constitute a waiver of any obligation
of Debtor hereunder, or any right of Creditor hereunder, and shall not affect in
any way the right to require full performance at any time thereafter. Debtor
waives presentment, diligence, demand of payment, notice, protest and all other
demands and notices in connection with the delivery, acceptance, performance,
default or enforcement of this Note. In any action on this Note, Creditor need
not produce or file the original of this Note, but need only file a photocopy of
this Note certified by Creditor be a true and correct copy of this Note in ail
material respects. 

4. Severability. Whenever possible each provision of
this Note shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision is prohibited by or invalid under
applicable law, it shall be ineffective to the extent of such prohibition or
invalidity, without invalidating the remainder of the provision or the remaining
provisions of this Note. 

5. Amendment Provisions. Entire Agreement. This Note may
not be amended or modified, nor may any of its terms be waived, except by
written instruments signed by Debtor and Creditor, This Note represents the
final agreement of Debtor and Creditor as to all matters addressed herein and
supersede all previous agreements, negotiations, and discussions by the parties
regarding the subject matters addressed herein. 

6. Binding Effect. This Note shall be binding upon, and
shall inure to the benefit of, Debtor and Creditor and their respective
successors and assigns; provided, however, that Debtor's rights and obligations
shall not be assigned or delegated, other than in connection with a Liquidation
Transaction and in accordance with the Exchange Agreement, without Creditor's
prior written consent, given in its sole discretion, and any purported
assignment or delegation without such consent shall be void ab initio. 

THE LANGUAGE KEY TRAINING LTD. 

/s/ Dirk Haddow 

By:
___________________________________
Dirk Haddow 
President and CEO

3

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