Document:

Letter Agreement

 Exhibit 10.2 
 April 11, 2006 
 DKR Soundshore Strategic Holding Fund Ltd. 
 c/o DKR Oasis Management Company, L.P. 
 1281 East Main St. 
 Stamford, Conn. 06920 
 DKR Soundshore Oasis Holding Fund Ltd. 
 c/o DKR Oasis Management Company, L.P. 
 1281 East Main St. 
 Stamford, Conn. 06920 
 Hunt Capital Growth Fund II, LP 
 2001 Ross Ave., Suite 4800 
 Dallas. TX 75201 

	 	Re:	Letter Agreement Regarding Reorganization and Acquisition of Capital Stock of Prosoft Learning Corporation, a Nevada corporation (“Prosoft”) 

 Ladies and Gentlemen: 
 This letter serves to memorialize the agreements that we have reached among VCampus Corporation, a Delaware corporation (“VCampus”) and each of you who are secured noteholders of Prosoft, regarding the anticipated reorganization
of Prosoft as described below. 
 Prosoft (together with at least one of its subsidiaries, Computer PREP, Inc.) plans to file in the
immediate future a voluntary petition for reorganization under Chapter 11 of Title 11 of the United States Code. VCampus desires to acquire through itself or one of its affiliates all of the newly issued and outstanding capital stock of the
reorganized Prosoft (the “Acquisition”) through the execution, delivery and performance of the Acquisition and Reorganization Agreement between VCampus and Prosoft (the “Acquisition Agreement”), a true and accurate copy of which
is attached hereto as Exhibit “A.” The Acquisition Agreement will be approved and consummated pursuant to a Plan of Reorganization in Prosoft’s Chapter 11 case (the “Plan”), a copy of which is appended to the Acquisition
Agreement. 
 As an inducement to make the Acquisition and for other good and valuable consideration, VCampus desires to set forth certain
agreements among VCampus and each of DKR Soundshore Strategic Holding Fund Ltd., an entity formed under the laws of Bermuda, DKR Soundshore Oasis Holding Fund Ltd., an entity formed under the laws of Bermuda, and Hunt Capital Growth Fund II, LP., a
Delaware limited partnership (each a “Noteholder,” and, collectively, the “Noteholders”). All capitalized terms not otherwise defined herein shall have the meaning assigned to such terms in the Acquisition Agreement. 

1. Acknowledgment of and Consent to Acquisition Agreement. Prior to Prosoft’s Chapter 11 petition date (the “Petition Date”),
each Noteholder has been informed of and involved in certain activity with Prosoft, including pursuit of potential purchasers of Prosoft and/or its assets. Each Noteholder’s note or notes to Prosoft currently are or as of the Petition Date are
anticipated to be in material default. The aggregate balance of Noteholders’ notes to 

 April 11, 2006 
  Page
 2
 
  

 Prosoft exceeds the value of Prosoft’s assets that have been pledged as collateral security for the repayment of
Noteholders’ notes. It therefore is anticipated that the net proceeds of the Acquisition will be distributed solely to the Noteholders under the Plan. Each Noteholder hereby irrevocably acknowledges and agrees that it a) for purpose of any
consent requirement in its note(s) or related security documents, hereby consents; and b) for purposes of Prosoft’s anticipated Chapter 11 case and Plan, will not object to, Prosoft’s execution, delivery and performance of the
Acquisition Agreement. 
 2. No Shop Provision. During the period commencing on the date hereof and ending on the earlier of the
Closing or the termination of the Acquisition Agreement, each Noteholder agrees that, except as otherwise specifically permitted herein, neither Noteholder nor any of its officers, directors, employees, agents, representatives or affiliates will
directly or indirectly solicit or initiate discussions or negotiations with any person concerning an Alternative Transaction. Notwithstanding the foregoing, each Noteholder and its financial and legal advisors may furnish information to, or enter
into discussions with, any person that makes a proposal for an Alternative Transaction to Prosoft, which proposal has not been solicited by either Prosoft or the Noteholders after the date hereof. Each Noteholder may only consent to an Alternative
Transaction if it provides purchase price consideration to Prosoft of at least $100,000 more than the Purchase Price, net of any termination fee that is payable to VCampus pursuant to Section 8.10 of the Acquisition Agreement. 
 3. Distribution of Notes; Setoff. Pursuant to the Acquisition Agreement, VCampus will deliver the Notes to Prosoft at Closing. To the extent that
the Notes are distributed to the Noteholders under the Plan, VCampus shall issue to each of the Noteholders replacement notes in the name of each Noteholder, pari passu, with the amount of each replacement note calculated pro rata based upon
the allowed amount of each Noteholder’s claim to the total amount of all allowed claims of the Noteholders under the Plan. Each of the Noteholders acknowledges and consents to the setoff rights provided to VCampus pursuant to Sections 2.3 and
2.4 of the Acquisition Agreement, and further agrees to be bound to the provisions of Sections 2.3 and 2.4 should the Notes be distributed to the Noteholders under the Plan, and also with regard to any replacement notes issued to the Noteholders as
provided herein. Each of the Noteholders hereby consents to the continuing jurisdiction of the Bankruptcy Court to resolve any disputed Set Off Claim. Finally, VCampus hereby acknowledges and agrees that the Noteholders, as the holders of the Notes,
shall be entitled to dispute and contest any Set Off Claim to the same extent as Prosoft is so entitled to dispute and contest the same under Sections 2.3 and/or 2.4 of the Acquisition Agreement. 
 4. Termination Fee and Cash Collateral. Each Noteholder hereby acknowledges and agrees that it does not oppose the termination fee provisions
contained in Section 8.10 of the Acquisition Agreement. In addition, each Noteholder specifically agrees that if a termination fee is due and payable to VCampus by Prosoft pursuant to Section 8.10 of the Acquisition Agreement, such
termination fee may be paid by Prosoft from each Noteholder’s cash collateral. 

 April 11, 2006 
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 3
 
  

 5. Anticipated Prosoft Training Japan, Inc. Transaction. It is anticipated that shortly before
or after the Petition Date, Prosoft will consummate an agreement with Prosoft Training Japan, Inc., a Japanese corporation (“PTJ”), whereby Prosoft will transfer or otherwise convey an interest in certain intellectual property (primarily
Japanese translations of Certified Internet Webmaster exams) to PTJ (the “PTJ Transaction”). The terms of the PTJ Transaction are anticipated to be substantially as set forth in the “Letter of Intent—Copyright Licensing and
Transfer Agreement,” a working draft of which is appended hereto as Exhibit “B” (the “PTJ Agreement”). 
 Should
Prosoft elect to go forward with the PTJ Transaction, and consummate an agreement substantially similar to the PTJ Agreement, VCampus hereby provides its consent for purposes of any provision of the Acquisition Agreement that might otherwise limit
or preclude Prosoft’s ability to agree to and/or consummate the PTJ Transaction, including but not limited to Sections 5.1.1, 5.1.3, 5.1.12.6 through 5.1.12.8, 6.1.1.8 and 6.1.1.9 of the Agreement. 
 For their part, each of the Noteholders hereby consent, and Prosoft acknowledges, that the transfer of assets that the PTJ Transaction contemplates (to
the extent that the PTJ Transaction is consummated) diminishes the aggregate value of Prosoft’s assets that VCampus intended to retain in Reorganized Prosoft by $200,000, which amount shall be reflected on the Closing Balance Sheet and result
in a reduction of Working Capital in that amount (and the Noteholders’ liens and security interests shall attach to all proceeds paid or payable associated with the PTJ Agreement and the transactions related thereto). 
 6. Assumption of Employment Agreement of Benjamin M. Fink. Benjamin M. Fink, the current President and CEO of Prosoft, has agreed to remain
employed by Prosoft in order to facilitate the Acquisition and Prosoft’s Chapter 11 reorganization. It is anticipated that Mr. Fink will enter into an amendment of his existing employment contract with Prosoft, in substantially the form
appended hereto as Exhibit “C,” that will, among other things, provide for a $200,000 severance payment if his employment is terminated upon the Closing of the Acquisition. Each of the Noteholders hereby acknowledges and consents that this
severance liability will be reflected upon the Closing Balance Sheet and result in a reduction of Working Capital in that same amount. VCampus likewise agrees that Reorganized Prosoft will assume the liability to pay Mr. Fink such severance.
(The parties acknowledge that Section 1.4 of the Acquisition Agreement contemplates that any accrued vacation pay owed to Mr. Fink upon his termination, together with any employer share of the taxation of both the severance and accrued
vacation pay will be reflected on the Closing Balance Sheet and result in a reduction of Working Capital in the amount of such vacation pay and taxes.) 
 7. Director’s and Officer’s Liability Insurance Policy. Each of the Noteholders hereby acknowledges that they have agreed that Prosoft may obtain a “tail coverage” extension of
Prosoft’s existing policy of director’s and officer’s liability insurance that shall be effective for a period of not more than two (2) years from Closing (the “Tail Policy”) To the extent that the premium for the Tail
Policy remains unpaid at Closing, VCampus agrees that Reorganized Prosoft shall assume liability to pay such premium, and each of the Noteholders consents that the amount of the actual premium paid by Reorganized Prosoft for the Tail Policy shall be
reflected on the Closing Balance Sheet and result in a reduction of Working Capital in that amount. 

 April 11, 2006 
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 4
 
  

 Each Noteholder individually and severally as to itself represents and warrants to VCampus that:
(a) each of the individuals signing on behalf of each Noteholder has the power and authority to execute and deliver this letter agreement on behalf of such Noteholder; (b) each Noteholder has the power and authority to execute and deliver
this letter agreement and the execution and delivery of this letter agreement will not violate any material agreement, obligation or instrument of each Noteholder; (c) each Noteholder has had the opportunity to seek and has relied upon
independent advice concerning this letter agreement, the Acquisition, the Acquisition Agreement, the Plan and all other related matters, including, without limitation, financial and legal advice. 
 The agreements contained herein will be governed by the laws of the State of Delaware. This letter agreement may be executed in one or more counterparts
each of which will be deemed an original and all of which will constitute one and same instrument. If this letter agreement meets with your approval, please execute where indicated below and return to our attention. 
  

			
	 Sincerely,

	
	
	VCAMPUS CORPORATION, a Delaware corporation
	
		
	By	 	  
	Its	 	  

 [Signature blocks of the Noteholders and Prosoft appear on the following page.]

 April 11, 2006 
  Page
 5
 
  

 AGREED AND ACCEPTED: 
 DKR SOUNDSHORE STRATEGIC HOLDING FUND LTD., 
 an entity formed under the laws of Bermuda 

			
	
		
	By:	 	  
	Its:	 	  

  
 DKR SOUNDSHORE OASIS HOLDING FUND LTD.,

 an entity formed under the laws of Bermuda 

			
		
	By:	 	  
	Its:	 	  

  
 HUNT CAPITAL GROWTH FUND II, LP, 

a Delaware limited partnership 
  

					
		 	By:	 	 Hunt Capital Growth, LP

		 	Its:	 	 General Partner
  

		 	By:	 	 Hunt Capital Growth, LLC

		 	Its:	 	 General Partner
  

		 	By:	 	  
		 	Its:	 	  

 ACKNOWLEDGED AND CONSENTED TO: 
 PROSOFT LEARNING CORPORATION, 
 a Nevada corporation 

			
	
		
	By:	 	  
	Its:	 	  

 [Signature page to Letter Agreement with VCampus 
 dated April       , 2006]Transition Services Agreement

 Exhibit 10.3 
 TRANSITION SERVICES AGREEMENT 
 This Transition Services Agreement (“Agreement”) is made
this 10th day of April 2006 (“Effective Date”), between Prosoft Learning Corporation, a Nevada corporation (the “Company”), and Benjamin M. Fink (the “Employee”). 
 WHEREAS: 
 A. The Company and Employee
entered into an employment agreement dated the 27th of October 2005 (the “Prior Agreement”). 

B. This Agreement amends and restates the Prior Agreement, which as of the Effective Date and subject to Section 12 of this Agreement, shall be
null and void and of no effect. 
 C. The Company has entered into an Acquisition and Reorganization Agreement dated the 11th day of April
2006 (“Acquisition Agreement”), by and between the Company, ComputerPREP, Inc. and VCampus Corporation (“VCampus”), whereby VCampus would acquire, by itself or through one of its affiliates, all of the newly issued and
outstanding capital stock of the Company on or after the Closing Date, as defined in the Acquisition Agreement (“Reorganized Prosoft”). Terms not otherwise defined herein shall be as defined in the Acquisition Agreement. 
 D. NOW, THEREFORE, in consideration of the promises and mutual covenants herein set forth, the parties do hereby agree and promise as follows:

 1. Services and Compensation. 
 1.1 Prior to the Closing Date, Employee shall remain employed by the Company and entitled to continue to receive whatever base salary he was receiving from the Company immediately prior to the date hereof. He shall continue to provide
substantially the same services to the Company as under the Prior Agreement, as well as to assist with the completion of the transactions contemplated by the Acquisition Agreement. 
 1.2 Promptly following the Closing of the transactions contemplated by the Acquisition Agreement [and receipt by Reorganized Prosoft or VCampus of
$209,080 [note: includes gross up for employer portion of social security tax] from the Secured Noteholders pursuant to the side letter agreement between such parties dated as of the Closing Date], the Company shall immediately make a payment
to Employee of $200,000. Neither the Company nor Reorganized Prosoft or VCampus shall thereafter have any further obligations under this Agreement. Employee’s employment by the Company shall terminate effective immediately upon the Closing
Date. 
 1.3 To the extent required by law, the Company shall withhold from any payments due Employee under this Agreement any applicable
Federal, state or local taxes and such other deductions as are prescribed by law or Company policy. 
  

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 2. Proprietary Information. 
 2.1 Employee understands that the Company possesses and will continue to possess information that has been created, discovered, developed or otherwise
become known to the Company (including, without limitation, information created, discovered, developed or made known by Employee during the period of or arising out of his employment by the Company, whether prior to or after the date hereof,
including under the Prior Agreement) or in which property rights have been assigned or otherwise conveyed to the Company, which information has commercial value in the business in which the Company is engaged. All such information is hereinafter
called “Proprietary Information.” By way of illustration, but not limitation, Proprietary Information includes processes, formulas, codes, data, programs, know-how, improvements, discoveries, developments, designs, inventions, techniques,
marketing plans, strategies, forecasts, new products, unpublished financial statements, budgets, projections, licenses, prices, costs, contracts and customer and supplier lists. 
 2.2 In consideration of the compensation received by the Employee from the Company and the covenants contained in this Agreement, Employee agrees as
follows: 
 2.2.1 All Proprietary Information shall be the sole property of the Company and its assigns, and the Company and its assigns
shall be the sole owner of all patents, copyrights, and other rights in connection therewith. Employee hereby assigns to the Company rights he may have or acquire in such Proprietary Information. At all times, both during his employment by the
Company and after his termination, Employee will keep in strictest confidence and trust all Proprietary Information and will not use or disclose any Proprietary Information without the written consent of the Company, except as may be necessary in
the ordinary course of performing his duties under this Agreement. 
 2.2.2 All documents, records, equipment and other physical property,
whether or not pertaining to Proprietary Information, furnished to Employee by the Company or produced by Employee or others in connection with Employee’s employment with the Company shall be and remain the sole property of the Company. In the
event of the termination of his employment by him or the Company for any reason, Employee will deliver to the Company all documents, notes, drawings, specifications, programs, data, customer lists and other materials of any nature pertaining to his
work with the Company and Employee will not take with him or use any of the foregoing, any reproduction of any of the foregoing, or any Proprietary Information that is embodied in a tangible medium of expression. 
 2.2.3 Employee recognizes that the Company is engaged in a continuous program of development and marketing respecting its present and future business.
Employee understands that as part of his employment by the Company he has been expected to make new contributions of value to the Company and that his employment has created a relationship of confidence and trust between him and the Company with
respect to certain information applicable to the business of the Company 

  

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or applicable to the business of any customer of the Company, which has been or may be made known to Employee by the Company or by any customer of the
Company or which may have been or may be learned by Employee during the period of his employment by the Company. 
 3. Covenant Not to
Compete. 
 3.1 In consideration for the payments to be made under this Agreement, Employee shall, for a period of one year from the
Closing Date, refrain from, either alone or in conjunction with any other person, or directly or indirectly through its present or future affiliates: 
 (i) employing, engaging or seeking to employ or engage any person who within the prior twenty-four (24) months had been an officer or employee of the Company, unless in a venture not in direct competition with
the Company; 
 (ii) causing or attempting to cause (A) any client, customer or supplier of the Company to terminate or materially
reduce its business with the Company, or (B) any officer, employee or consultant of the Company to resign or sever a relationship with the Company; 
 (iii) disclosing (unless compelled by judicial or administrative process) or using any confidential or secret information relating to the Company or any of their respective clients, customers or suppliers; or

 (iv) participating or engaging in (other than through the ownership of five percent (5%) or less of any class of securities
registered under the Securities Exchange Act of 1934, as amended), or otherwise lending assistance (financial or otherwise) to any person participating or engaged in, any of the lines of business in which the Company is participating or engaged on
the date of termination in any jurisdiction in which the Company participates or engages in such line of business on the date of termination. 
 3.2 The parties hereto recognize that the laws and public policies of the various states of the United States may differ as to the validity and enforceability of covenants similar to those set forth in this Section. It is the intention of
the parties that the provisions of this Section be enforced to the fullest extent permissible under the laws and policies of each jurisdiction in which enforcement may be sought, and that the unenforceability (or the modification to conform to such
laws or policies) of any provisions of this Section shall not render unenforceable, or impair, the remainder of the provisions of this Section. Accordingly, if any provision of this Section shall be determined to be invalid or unenforceable, such
invalidity or unenforceability shall be deemed to apply only with respect to the operation of such provision in the particular jurisdiction in which such determination is made and not with respect to any other provision or jurisdiction. 

3.3 The parties hereto acknowledge and agree that any remedy at law for any breach of the provisions of this Section would be inadequate, and 

  

 3 

 
Employee hereby consents to the granting by any court of an injunction or other equitable relief, without the necessity of actual monetary loss being proved,
in order that the breach or threatened breach of such provisions may be effectively restrained. 
 3.4 The Company and the Employee
acknowledge that the foregoing restrictive covenants in this Section 3 are essential elements of this Agreement and that, but for the agreement of the Employee to comply with those covenants, the Company would not have agreed to enter into this
Agreement. The covenants by the Employee shall be construed as agreements independent of any other provision in this Agreement. 
 3.5 The
Company and the Employee intend that the covenants contained in this Section 3 shall be construed as a series of separate covenants, one for each county of the State of Arizona and one for each State of the United States other than Arizona.

 3.6 The Company and the Employee understand and agree that, if any portion of the restrictive covenants set forth in this Section 3
is held to be unreasonable, arbitrary, or against public policy, then that portion of those covenants shall be considered divisible as to time and geographical area. The Company and the Employee agree that, if any court of competent jurisdiction
determines that the specified time period or the specified geographical area of application in any covenant is unreasonable, arbitrary, or against public policy, then a lesser time period, geographical area, or both, that is determined to be
reasonable, nonarbitrary, and not against public policy may be enforced against Employee. The Company and the Employee agree and acknowledge that they are familiar with the present and proposed operations of the Company and believe that the
restrictive covenants set forth in this Section 3 are reasonable with respect to their subject matter, duration, and geographical application. 
 3.7 The parties acknowledge that the status of the Employee in this business and industry is unique and the success of the Company in said business, and in the sale of the business as contemplated by the Acquisition Agreement, is materially
and substantially dependent upon the continued employment of the Employee, and in the event the employment of the Employee is terminated for any reason, such business of the Company will be substantially and irrevocably damaged. In view thereof, the
parties acknowledge that monetary damages alone will not fully compensate the Company in the event the Employee fails or refuses to comply with the terms of this Section 3 above when applicable, and agree that the Company, in addition to all
other remedies provided in law and in equity, shall have the remedy of injunctive relief and specific performance to enforce the terms of said Section. 
 4. Arbitration. Except as otherwise provide herein, any controversies or claims arising out of, or relating to this Agreement or the breach thereof, shall be settled by arbitration in Phoenix, Arizona in
accordance with the rules of, but not subject to the jurisdiction of, the American Arbitration Association, which decision shall be final and binding on the parties, and judgment upon the award rendered may be entered in any court having
jurisdiction thereof. For these purposes the arbitrator shall be an individual 

  

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who has demonstrated that such individual is familiar with and has experience in the legal issues involving employer-employee relationships and has had no
prior prejudicial contacts with either party. In addition to all other remedies provided in law or in equity, the arbitrator is hereby authorized to assess costs and attorneys’ fees against either party if the arbitrator finds, based on all the
facts and circumstances, that the conduct of or the claims made by such party were unreasonable or substantially without merit. 
 5.
Notice. All notices, requests and other communications hereunder must be in writing and will be deemed to have been duly given only if delivered personally or by facsimile transmission or mailed (first class postage prepaid) to the parties at
the following addresses or facsimile numbers: 
  

			
	If to Employee:	 	Benjamin M. Fink
		 	410 North 44th Street
		 	Phoenix, Arizona 85008
		 	Telephone: (602) 794-4199
		
	If to the Company:	 	Prosoft Learning Corporation
		 	410 North 44th Street
		 	Phoenix, AZ 85008
		 	Facsimile No: (602) 794-4198
		 	Attn: Board of Directors

 All such notices, requests and other communications will (i) if delivered personally to the address as
provided in this Section, be deemed given upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided in this Section, be deemed given upon receipt, and (iii) if delivered by mail in the manner described
above to the address as provided in this Section, be deemed given upon receipt (in each case regardless of whether such notice, request or other communication is received by any other person to whom a copy of such notice, request or other
communication is to be delivered pursuant to this Section). Any party from time to time may change its address, facsimile number or other information for the purpose of notices to that party by giving notice specifying such change to the other party
hereto. 
 6. Invalid Provision. The invalidity or unenforceability of any particular provision of this Agreement in any jurisdiction
shall not affect the other provisions hereof or the validity of that particular provision in any other jurisdiction, and the Agreement shall be construed in all respects as though such invalid or unenforceable provisions were omitted only in the
jurisdiction in which the case is held to be invalid or unenforceable. 
 7. Interpretation. This Agreement shall be interpreted in
accordance with the laws of the State of Arizona. 
 8. Successors. This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective successors, assigns, heirs, and legal representatives, including but not limited to any person, firm, corporation or other business entity which at any time, by merger, purchase or otherwise,
acquires all or 

  

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substantially all of the assets, equity or business of the Company. The duties and covenants of Employee under this Agreement, being personal, may not be
delegated. 
 9. Entire Agreement; Modification. This Agreement constitutes the entire agreement between the parties, and may be
changed only by an agreement in writing signed by the parties. 
 10. Headings. Sections and other headings contained in this
Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 11.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Signatures may be exchanged by telecopy, with original
signatures to follow. Each of the parties hereto agrees that it will be bound by its own telecopied signature and that it accepts the telecopied signatures of the other parties to this Agreement. The original signature pages shall be forwarded to
the Company or its counsel and the Company or its counsel will provide all of the parties hereto with a copy of the entire Agreement. 
 12.
Reinstatement of the Prior Agreement. In the event the Acquisition Agreement is terminated without a closing of the transactions contemplated thereunder, this Agreement shall immediately terminate and the parties shall thereafter be subject
to the terms of the Prior Agreement. 
 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized
officer of each party hereto as of the date first above written. 
  

					
	“COMPANY”
	
	Prosoft Learning Corporation, a Nevada corporation
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	“EMPLOYEE”
	
	  

	Benjamin M. Fink

  

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