Document:

<PAGE>

                    FOURTH AMENDMENT TO AMENDED AND RESTATED
                           LOAN AND SECURITY AGREEMENT

     THIS FOURTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
(the "Amendment") is made effective as of the 5th day of July, 2001, by and
among NOBEL LEARNING COMMUNITIES, INC. ("Nobel"), MERRYHILL SCHOOLS, INC.
("Merryhill"), NEDI, INC. ("NEDI"), MERRYHILL SCHOOLS NEVADA, INC. ("Merryhill
Nevada"), PALADIN ACADEMY, L.L.C., formerly known as Nobel Learning Solutions,
L.L.C. ("Paladin"), NOBEL EDUCATION DYNAMICS FLORIDA, INC. ("Nobel Florida"),
THE ACTIVITIES CLUB, INC. ("TAC"), HOUSTON LEARNING ACADEMY, INC. ("Houston"),
NOBEL SCHOOL MANAGEMENT SERVICES, INC. ("Nobel Management"), NOBEL LEARNING
TECHNOLOGIES, INC. ("Nobel Technologies") (jointly and severally, the
"Borrowers"), FLEET NATIONAL BANK, as successor by merger to Summit Bank, as
Agent ("Agent") and the Lenders named on the signature pages hereto
(collectively, the "Lenders").

                                   BACKGROUND
                                   ----------

     A. Nobel, Merryhill, NEDI, Merryhill Nevada, Paladin, Nobel Florida, TAC
and Agent are parties to that certain Amended and Restated Loan and Security
Agreement dated March 9, 1999, as amended by (i) that certain First Amendment to
Amended and Restated Loan and Security Agreement dated December 17, 1999, (ii)
that certain Second Amendment to Amended and Restated Loan and Security
Agreement dated May 24, 2000, and (iii) that certain Third Amendment to Amended
and Restated Loan and Security Agreement dated May 24, 2001 (such Amended and
Restated Loan and Security Agreement, as amended and as the same may be further
amended, supplemented or restated from time to time, being the "Loan
Agreement").

     B. Borrowers, Agent and Lenders desire to further amend the Loan Agreement
in accordance with the terms and conditions hereof.

     C. Capitalized terms used herein and not otherwise defined shall have the
meanings provided for such terms in the Loan Agreement.

     NOW, THEREFORE, intending to be legally bound hereby, the parties hereto
agree as follows:

     1. Senior Debt to EBITDA Ratio. Article 10 of the Loan Agreement is hereby
amended to add the following Subsection 10.7:
<PAGE>

          "10.7 Senior Debt to EBITDA Ratio. Borrowers shall maintain a ratio of
     Senior Debt to EBITDA as of the end of each fiscal quarter, determined on a
     rolling four quarter basis, of not greater than (a) 2.5 to 1.0 as of the
     fiscal quarter ending June 30, 2001 and as of each fiscal quarter
     thereafter through and including the fiscal quarter ending March 31, 2002,
     (b) 2.25 to 1.0 as of the fiscal quarter ending June 30, 2002 and as of
     each fiscal quarter thereafter through and including the fiscal quarter
     ending March 31, 2003, and (c) 1.75 to 1.0 as of the fiscal quarter ending
     June 30, 2003 and as of the end of each fiscal quarter thereafter. For
     purposes of calculating Borrower's compliance with this covenant, the term
     "Senior Debt" shall mean the then outstanding Lender Indebtedness at the
     time of such calculation."

     2. Consolidation of Working Capital Credit Facilities.

          (a) Borrowers acknowledge and agree that the outstanding principal
     balance of Working Capital Credit Facility A, together with accrued
     interest thereon, as of July 5, 2001 is $1,195,259.37 and that the
     outstanding principal balance of Working Capital Credit Facility B,
     together with accrued interest thereon, as of July 5, 2001 is
     $3,002,125.62. Agent, Lenders and Borrowers have agreed to consolidate
     Working Capital Credit Facility A and Working Capital Credit Facility B
     into the Consolidated Working Capital Credit Facility (as defined below).
     Such consolidation shall become effective as of July 5, 2001, and as of
     such date, the outstanding principal balance of the Consolidated Working
     Capital Credit Facility, together with accrued interest thereon, shall
     equal $4,197,384.99. Borrowers acknowledge and agree that any obligations
     of Lenders and Agent with respect to the Consolidated Working Capital
     Credit Facility shall be in replacement of the obligations of Lenders and
     Agent with respect to Working Capital Credit Facility A and Working Capital
     Credit Facility B.

          (b) Each Lender will establish for Borrowers for and during the
     Working Capital Contract Period, subject to the terms and conditions
     hereof, a revolving working capital credit facility, pursuant to which
     Lenders will from time to time in accordance with their respective Pro Rata
     Percentage, severally and not jointly, make advances to Borrowers in an
     aggregate amount not exceeding at any time Ten Million Dollars
     ($10,000,000.00) (the "Consolidated Working Capital Credit Facility").
     Within the limitations set forth in the Loan Agreement or this Amendment,
     Borrowers may borrow, repay and reborrow under the Consolidated Working
     Capital Credit Facility. The Consolidated Working Capital Credit Facility
     shall be subject to all of the terms and conditions hereof and the other
     Loan Documents. Borrowers' obligation to repay the loans and other
     extensions of credit under the Consolidated Working Capital Credit Facility
     shall be evidenced by Borrowers' promissory notes delivered to each Lender
     (collectively, the "Consolidated Working Capital Credit Facility Notes"),
     which shall be in the respective principal amounts of each Lenders' Pro
     Rata Share of the Consolidated Working Capital Credit Facility and which
     shall be in the form of

                                       -2-
<PAGE>

     the promissory notes previously delivered to Lenders with respect to the
     Working Capital Credit Facilities.

          (c) Subject to the terms and conditions of the Loan Agreement, each
     Lender agrees to lend to Borrowers the amount equal to such Lender's
     respective Pro Rata Percentage of each advance requested by Borrowers under
     the Consolidated Working Capital Credit Facility. The outstanding amount of
     the advances by each Lender shall not exceed such Lender's Pro Rata Share
     of the Consolidated Working Capital Credit Facility (as such amount may
     change from time to time in accordance with the terms of the Loan
     Agreement).

     3. Material Terms of the Consolidated Working Capital Credit Facility.

          (a) Interest Rate on the Consolidated Working Capital Credit Facility.
     Notwithstanding anything to the contrary contained in the Loan Agreement,
     interest on the unpaid principal balance of the Consolidated Working
     Capital Credit Facility will accrue at one of the two (2) interest rate
     options set forth below, subject to the restrictions and in accordance with
     the procedures set forth in the Loan Agreement and this Amendment:

               (i) LIBOR Rate; or
               (ii) Floating Rate.

          (b) Interest Payments on the Consolidated Working Capital Credit
     Facility. Borrowers will pay interest on the principal balance of the
     Consolidated Working Capital Credit Facility monthly, on the first day of
     each calendar month commencing the first day of the first calendar month
     following the date hereof and on the last day of each Rate Period, as
     applicable.

          (c) Principal Payments on the Consolidated Working Capital Credit
     Facility. Borrowers will pay the outstanding principal balance of the
     Consolidated Working Capital Credit Facility, together with any accrued and
     unpaid interest thereon, and any other sums due pursuant to the terms
     hereof or of the Loan Agreement, ON DEMAND after the occurrence of an Event
     of Default or after expiration of the Working Capital Contract Period.

     4. Documents to be Delivered. As a condition of closing the transactions
contemplated under this Amendment, Borrowers shall deliver to Agent or Agent
shall have received all of the following which must be in form and content
acceptable to Agent in Agent's sole discretion:

          (a) This Amendment and all other documents collateral thereto, duly
     executed on behalf of Borrowers and all other parties thereto;

          (b) The Consolidated Working Capital Credit Facility Notes which shall
     be in the respective principal amounts of each Lenders' Pro Rata Share of
     the Consolidated Working Capital Credit Facility; and

                                       -3-
<PAGE>

          (c) An amended Schedule A to Loan Agreement evidencing the respective
     principal amounts of each Lenders' Pro Rata Share of the Loans, including
     the Consolidated Working Capital Credit Facility.

     Agent agrees upon receipt of the fully executed Consolidated Working
Capital Credit Facility Notes to mark the existing Working Capital Credit
Facility A Notes and Working Capital Credit Facility B Notes "amended and
restated by another instrument" or take such other action reasonably necessary
to prevent the existing Working Capital Credit Facility A Notes and Working
Capital Credit Facility B Notes from becoming negotiable instruments.

     5. Additional Documents. Borrowers covenant and agree to execute and
deliver or cause to be executed and delivered to Agent any and all documents as
Agent shall request in connection with the execution and delivery of this
Amendment or any other documents in connection herewith.

     6. Other References. All references in the Loan Agreement and the other
Loan Documents to the term "Loan Documents" shall mean the Loan Documents as
defined therein and this Amendment, including the Consolidated Working Capital
Credit Facility Notes, and any and all other documents executed and delivered by
Borrowers pursuant to and in connection herewith. All references in the Loan
Agreement and all the Loan Documents to the term "Lender Indebtedness" shall
include, but shall not be limited to, all obligations and liabilities of
Borrowers to Lenders under the Consolidated Working Capital Credit Facility
Notes, the other Notes and the Loan Agreement, as amended hereby. All references
in the Loan Agreement and all the Loan Documents to the term "Working Capital
Credit Facility A Notes" and the term "Working Capital Credit Facility B Notes"
shall be deemed references to the Consolidated Working Capital Credit Facility
Notes. All references in the Loan Agreement and all the Loan Documents to the
term "Notes" shall include, but shall not be limited to, the Consolidated
Working Capital Credit Facility Notes. All references in the Loan Agreement and
all the Loan Documents to the term "Working Capital Credit Facility A" and the
term "Working Capital Credit Facility B" and the term "Working Capital Credit
Facilities" shall be deemed references to the Consolidated Working Capital
Credit Facility.

     7. Further Agreements and Representations. Borrowers do hereby:

          (a) ratify, confirm and acknowledge that the Loan Agreement, as
     amended, and the other Loan Documents continue to be and are valid, binding
     and in full force and effect;

          (b) covenant and agree to perform all obligations of Borrowers
     contained herein and under the Loan Agreement, as amended, and the other
     Loan Documents;

          (c) acknowledge and agree that Borrowers have no defense, set-off,
     counterclaim or challenge against the payment of any sums owing under Loan
     Documents, the enforcement of any of the terms of the Loan Agreement, as
     amended, or the other Loan Documents;

                                      -4-
<PAGE>

          (d) represent and warrant that no Event of Default or event which with
     the giving of notice or passage of time or both would constitute such an
     Event of Default exists and all information described in the foregoing
     Background is true, accurate and complete;

          (e) acknowledge and agree that nothing contained herein and no actions
     taken pursuant to the terms hereof is intended to constitute a novation of
     the Loan Agreement or any of the other Loan Documents, and does not
     constitute a release, termination or waiver of any of the rights or
     remedies granted to Agent therein, which rights and remedies are hereby
     ratified, confirmed, extended and continued as security for the obligations
     of Borrowers to Agent under the Loan Agreement and the other Loan
     Documents, including, without limitation, this Amendment; and

          (f) acknowledge and agree that any Borrower's failure to comply with
     or perform any of its covenants, agreements or obligations contained in
     this Amendment shall constitute an Event of Default under the Loan
     Agreement and each of the Loan Documents.

     8. Costs and Expenses. Upon execution of this Amendment, Borrowers shall
pay to Agent and each Lender, all costs and expenses incurred by Agent and such
Lender in connection with the review, preparation and negotiation of this
Amendment and all documents in connection therewith, including, without
limitation, all of Agent's and such Lender's attorneys' fees and out-of-pocket
expenses.

     9. Inconsistencies. To the extent of any inconsistency between the terms,
conditions and provisions of this Amendment and the terms, conditions and
provisions of the Loan Agreement or the other Loan Documents, the terms,
conditions and provisions of this Amendment shall prevail. All terms, conditions
and provisions of the Loan Agreement and the other Loan Documents not
inconsistent herewith shall remain in full force and effect and are hereby
ratified and confirmed by Borrowers.

     10. Construction. All references to the Loan Agreement therein or in any
other Loan Documents shall be deemed to be a reference to the Loan Agreement as
amended hereby.

     11. No Waiver. Nothing contained herein and no actions taken pursuant to
the terms hereof are intended to nor shall they constitute a waiver by Agent of
any rights or remedies available to Agent at law or in equity or as provided in
the Loan Agreement or the other Loan Documents.

     12. Binding Effect. This Amendment shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.

     13. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania.

                                      -5-
<PAGE>

     14. Headings. The headings of the sections of this Amendment are inserted
for convenience only and shall not be deemed to constitute a part of this
Amendment.

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

                                       BORROWERS:
                                       ---------

                                       NOBEL LEARNING COMMUNITIES, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Executive Vice
                                           President

                                       MERRYHILL SCHOOLS, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Executive Vice
                                           President

                                       NEDI, INC.

                                       By: /s/ Barbara Moore
                                           -------------------------------------
                                           Barbara Moore, Vice President
                                           -------------------------------------

                                       MERRYHILL SCHOOLS NEVADA, INC.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, Treasurer

                                       HOUSTON LEARNING ACADEMY,  INC.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, Vice President

                    (SIGNATURES CONTINUED ON FOLLOWING PAGE)

                                       -6-
<PAGE>

                                       PALADIN ACADEMY, L.L.C.
                                       By: NOBEL LEARNING
                                           COMMUNITIES, INC.,
                                           its sole member'

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, Executive Vice
                                           President
                                           -------------------------------------

                                       NOBEL SCHOOL MANAGEMENT
                                       SERVICES, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Treasurer

                                       NOBEL LEARNING TECHNOLOGIES, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Treasurer

                                       NOBEL EDUCATION DYNAMICS FLORIDA,
                                       INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Vice President

                                       THE ACTIVITIES CLUB, INC.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, President

                    (SIGNATURES CONTINUED ON FOLLOWING PAGE)

                                       -7-
<PAGE>

                                       AGENT:
                                       -----

                                       FLEET NATIONAL BANK, as successor by
                                       merger to Summit Bank, as Agent

                                       By: /s/ Thomas E. Lunney
                                           -------------------------------------
                                                   Thomas E. Lunney, Vice
                                                   President
                                                   -----------------------------

                                       LENDERS:
                                       -------

                                       FLEET NATIONAL BANK, as successor by
                                       merger to Summit Bank

                                       By: /s/ Thomas E. Lunney
                                           -------------------------------------
                                                   Thomas E. Lunney, Vice
                                                   President
                                                   -----------------------------

                                       COMMERCE BANK, N.A.

                                       By: /s/ Peter Davis
                                           -------------------------------------
                                                   Peter C. Davis, Senior Vice
                                                   President
                                                   -----------------------------

                                       -8-<PAGE>

             AMENDED AND RESTATED ACQUISITION CREDIT FACILITY NOTE
             -----------------------------------------------------

$11,250,000.00                                        Philadelphia, Pennsylvania
                                                             Dated: May 24, 2001

     FOR VALUE RECEIVED AND INTENDING TO BE LEGALLY BOUND, the undersigned
(jointly and severally, "Borrower"), hereby promises to pay to the order of
FLEET NATIONAL BANK, as successor by merger to Summit Bank ("Lender") the
principal sum of Eleven Million Two Hundred Fifty Thousand Dollars
($11,250,000.00) outstanding under the Term Loan established for the benefit of
Borrower pursuant to the terms of that certain Amended and Restated Loan and
Security Agreement dated March 9, 1999 among Borrower, Fleet National Bank, as
successor-by-merger to Summit Bank, as Agent and the Lenders from time to time a
party thereto, as amended by (i) that certain First Amendment to Amended and
Restated Loan and Security Agreement dated December 17, 1999, (ii) that certain
Second Amendment to Amended and Restated Loan and Security Agreement dated May
24, 2000, and (iii) that certain Third Amendment to Amended and Restated Loan
and Security Agreement dated of even date herewith (such Amended and Restated
Loan and Security Agreement as amended and as the same may hereafter be amended,
supplemented or restated from time to time, being the "Loan Agreement"),
together with interest thereon, upon the following terms:

     1. Acquisition Credit Facility Note. This Note is one of the "Acquisition
Credit Facility Notes" as defined in the Loan Agreement and, as such, shall be
construed in accordance with all terms and conditions thereof. Capitalized terms
not defined herein shall have such meaning as provided in the Loan Agreement.
This Note is entitled to all the rights and remedies provided in the Loan
Agreement and the Loan Documents and is secured by all collateral as described
therein.

     2. Interest Rate. Interest on the unpaid principal balance hereof will
accrue from the date of advance until final payment thereof at the applicable
rates per annum described in Section 5.3 of the Loan Agreement.

     3. Default Interest. Interest will accrue on the outstanding principal
amount hereof, following the occurrence of an Event of Default, until paid at
the applicable rate per annum described in Section 5.9 of the Loan Agreement
(the "Default Rate").

     4. Post Judgment Interest. Any judgment obtained for sums due hereunder or
under the Loan Documents will accrue interest at the Default Rate until paid.

     5. Computation. Interest will be computed on the basis of a year of three
hundred sixty (360) days and paid for the actual number of days elapsed.

     6. Payments. Principal and interest hereunder shall be paid in the manner
provided for in Section 6.3 of the Loan Agreement.

     7. Default; Remedies. Upon the occurrence of an Event of Default, Lender,
at its option, upon notice to Borrower, may declare immediately due and payable
the entire unpaid balance of principal and all other sums due by Borrower
hereunder or under the Loan Documents, together with interest accrued thereon at
the applicable rate specified above. Payment thereof may be enforced and
<PAGE>

recovered in whole or in part at any time and from time to time by one or more
of the remedies provided to Lender in this Note or in the Loan Documents or as
otherwise provided at law or in equity, all of which remedies are cumulative and
concurrent.

     8. Waivers. Borrower and all endorsers, jointly and severally, waive
presentment for payment, demand, notice of demand, notice of nonpayment or
dishonor, protest and notice of protest of this Note, and all other notices in
connection with the delivery, acceptance, performance, default or enforcement of
the payment of this Note, except for such notices, if any, as are expressly
required to be delivered to Borrower under the Loan Documents.

     9. Miscellaneous. If any provisions of this Note shall be held invalid or
unenforceable, such invalidity or unenforceability shall not affect any other
provision hereof. This Note has been delivered in and shall be governed by and
construed in accordance with the laws of the Commonwealth of Pennsylvania
without regard to the law of conflicts. This Note shall be binding upon Borrower
and upon Borrower's successors and assigns and shall benefit Lender and its
successors and assigns. The prompt and faithful performance of all of Borrower's
obligations hereunder, including without limitation, time of payment, is of the
essence of this Note.

     10. Joint and Several Liability. All agreements, conditions, covenants and
provisions of this Note shall be the joint and several obligation of each
Borrower.

     11. Confession of Judgment. BORROWER HEREBY AUTHORIZES AND EMPOWERS ANY
ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF
PENNSYLVANIA, OR IN ANY OTHER JURISDICTION WHICH PERMITS THE ENTRY OF JUDGMENT
BY CONFESSION, TO APPEAR FOR BORROWER AT ANY TIME AFTER THE OCCURRENCE OF AN
EVENT OF DEFAULT UNDER THE LOAN AGREEMENT IN ANY ACTION BROUGHT AGAINST BORROWER
ON THIS NOTE OR THE LOAN DOCUMENTS AT THE SUIT OF LENDER OR AGENT, WITH OR
WITHOUT COMPLAINT OR DECLARATION FILED, WITHOUT STAY OF EXECUTION, AS OF ANY
TERM OR TIME, AND THEREIN TO CONFESS OR ENTER JUDGMENT AGAINST BORROWER FOR THE
ENTIRE UNPAID OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AND ALL OTHER SUMS TO BE
PAID BY BORROWER TO OR ON BEHALF OF BANK PURSUANT TO THE TERMS HEREOF OR OF THE
LOAN DOCUMENTS AND ALL ARREARAGES OF INTEREST THEREON, TOGETHER WITH ALL COSTS
AND OTHER EXPENSES AND AN ATTORNEY'S COLLECTION COMMISSION OF FIFTEEN PERCENT
(15%) OF THE AGGREGATE AMOUNT OF THE FOREGOING SUMS, BUT IN NO EVENT LESS THAN
$5,000.00; AND FOR SO DOING THIS NOTE OR A COPY HEREOF VERIFIED BY AFFIDAVIT
SHALL BE A SUFFICIENT WARRANT.

     THE AUTHORITY GRANTED HEREIN TO CONFESS JUDGMENT SHALL NOT BE EXHAUSTED BY
ANY EXERCISE THEREOF BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL
PAYMENT IN FULL OF ALL THE AMOUNTS DUE HEREUNDER. BORROWER ACKNOWLEDGES THAT IT
HAS BEEN REPRESENTED BY COUNSEL IN CONNECTION WITH THE EXECUTION AND DELIVERY OF
THIS NOTE AND THAT IT KNOWINGLY WAIVES ITS RIGHT TO BE HEARD PRIOR TO THE ENTRY
OF SUCH JUDGMENT AND UNDERSTANDS THAT, UPON SUCH ENTRY, SUCH

                                       2
<PAGE>

JUDGMENT SHALL BECOME A LIEN ON ALL REAL PROPERTY OF BORROWER IN THE COUNTY
WHERE SUCH JUDGMENT IS ENTERED.

     12. Prior Notes. Borrower acknowledges and agrees that this Note, together
with the other Notes, re-evidences existing indebtedness of certain Borrowers to
Agent and this Note, together with the other Notes, is given in substitution of,
and not as payment for, all prior notes evidencing such indebtedness and shall
not be deemed a novation thereof.

     IN WITNESS WHEREOF, Borrower, intending to be legally bound hereby, has
caused this Amended and Restated Acquisition Credit Facility Note to be duly
executed the day and year first above written.

                                       NOBEL LEARNING COMMUNITIES, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Executive Vice
                                           President

                                       MERRYHILL SCHOOLS, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Executive Vice
                                           President

                                       NEDI, INC.

                                       By: /s/ S. Good
                                           -------------------------------------
                                           S. Good, President

                                       MERRYHILL SCHOOLS NEVADA, INC.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, Treasurer

                                       PALADIN ACADEMY, L.L.C., formerly known
                                       as Nobel Learning Solutions L.L.C.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, Vice President

                                       3
<PAGE>

                                       NOBEL EDUCATION DYNAMICS FLORIDA, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Vice President

                                       THE ACTIVITIES CLUB, INC.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, President

                                       HOUSTON LEARNING ACADEMY,  INC.

                                       By: /s/ John R. Frock
                                           -------------------------------------
                                           John R. Frock, Vice President

                                       NOBEL SCHOOL MANAGEMENT SERVICES, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Treasurer

                                       NOBEL LEARNING TECHNOLOGIES, INC.

                                       By: /s/ William E. Bailey
                                           -------------------------------------
                                           William E. Bailey, Treasurer

                                       4

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