Document:

Exhibit 4.2

 Exhibit 4.2 
 RESTRICTED STOCK AWARD AGREEMENT 
 To: [name of Awardee] (“Awardee”) 
 From: Learning Tree International, Inc. 
 Date: 
 Learning Tree International, Inc. (“Learning Tree”) has adopted the 2007 Equity Incentive Plan (the
“Plan”) under which Learning Tree may grant shares of Learning Tree’s Common Stock, $.0001 par value (the “Common Stock”). We are pleased to inform you that the Compensation Committee of our Board
of Directors (the “Committee”) has decided to grant you an award of restricted stock (the “Shares”) under the Plan (your “Award”). 
 Your Award will be governed by the Plan, the attached Standard Terms and Conditions (the “Terms”) and the following specific
provisions (which are subject to adjustment under the Plan and the Terms): 
 The “Date of Grant” for your Award is:
                 
 You have been awarded the following
number of Shares:                  
 Earning Shares.
You may earn all or a percentage of the Shares (“Earned Shares”) based on [Insert targets] 
  

			
	                  Target
	  	 Percentage of Shares Earned

 Any Shares which you do not earn will be deemed repurchased by Learning Tree on
December 31,                 for the aggregate price of $1.00 regardless of the number of Shares involved, and you will have no further rights in those Shares. Any
Earned Shares will continue to be subject to repurchase by Learning Tree until they are vested. 
 Vesting of Shares.
                 percent (        %) of any Earned Shares will vest on each of December 31,
                , December 31,                  and December 31,
                 if you are employed by Learning Tree or its subsidiaries on such date. Any unvested Earned Shares on the date that you cease to be an employee or
director of Learning Tree (whether voluntarily or involuntarily) will be deemed repurchased by Learning Tree for the aggregate price of $                , regardless of
the number of Shares involved. Such unvested Earned Shares shall revert to Learning Tree and you will have no further rights in those Shares. 
 Please review the Plan and the Terms carefully, as they control your rights under your Award and to the Shares. Then sign (and if you are married, have your spouse sign) one copy of this letter and the enclosed stock power and return them
to Nancy McKinley. If you have any questions, please call her. 
 We appreciate your continuing efforts on behalf of Learning Tree.

  

			
	 Very truly yours,
 Learning Tree
International, Inc.

		
	By:	 	 
		
	Its:	 	 

 I hereby accept this Award and have reviewed the Plan and the Terms. I understand that I will lose my right
to the Shares under certain circumstances, including the failure of Learning Tree to meet the standards set out above or my ceasing to be an employee of Learning Tree, whether voluntary or not. I further understand that I may not transfer my Award
or any Shares except under circumstances described in this Award and the Plan. 
  

			
	
	 
	“Grantee”

 I agree to be bound by all of the terms and conditions of the Award, including those set forth in the Plan
and the Terms. 
  

			
	Grantee’s Spouse
	
	 
		
	Name:	 	 

  

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 THE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED UNDER ANY
APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, SOLD, ASSIGNED, PLEDGED OR HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR AN APPLICABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS THEREOF AND ANY APPLICABLE STATE SECURITIES LAWS AND AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER HEREOF THAT SUCH REGISTRATION IS NOT REQUIRED. 
 Please read carefully the tax section, and discuss it with your tax advisor. You have only 30 days from 
 the Date of Grant to make an election under IRC §83(b). If you want to make an election under 
 IRC §83(b), you are responsible for preparing and filing the election. 
  

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 STANDARD TERMS AND CONDITIONS 
 These Standard Terms and Conditions are attached to a letter (the “Award Letter”) from Learning Tree International, Inc. ( “Learning Tree”) granting an Award to you, and
are intended to govern that Award. All capitalized terms not specifically defined in these Standard Terms and Conditions have the meanings set forth in the Stock Award Agreement or in Learning Tree’s 2007 Equity Incentive Plan. 
 1. Issuance of Certificate. Upon receipt of the signed Award Letter and blank stock powers executed by you relating to the Shares, Learning
Tree shall cause to be issued one or more stock certificates, registered in your name, evidencing the Shares. Each such certificate shall bear the following legends: 
 “The sale or other transfer of the shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as set forth in the
Learning Tree International, Inc. 2007 Equity Incentive Plan, and in a Restricted Stock Award Agreement. A copy of this Plan and such Restricted Stock Award Agreement may be obtained from the Secretary of Learning Tree International, Inc.”

 “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE
STATE SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, SOLD, ASSIGNED, PLEDGED OR HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS THEREOF AND ANY APPLICABLE STATE SECURITIES LAWS AND AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER HEREOF THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 2. Deposit of Certificate. Each certificate for the Shares, together with the stock powers relating to the Shares, shall be deposited by Learning Tree with the Secretary of Learning Tree or a custodian
designated by the Secretary. Any additional Shares of Common Stock, any other securities of Learning Tree and any other property (except for cash dividends) distributed with respect to any unvested Shares shall be subject to the same restrictions,
terms and conditions as the Shares with respect to which they were distributed. Any cash dividends and other distributions payable with respect to any Shares not repurchased or deemed repurchased shall be distributed to you at the same time as such
cash dividends or other distributions are distributed to shareholders of Learning Tree generally. 
 3. Restriction on Transfer; Voting
Rights. This Award and any unvested Shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of or encumbered either voluntarily or by operation of law except (i) by will or the laws of descent and
distribution or (ii) to your designated beneficiary to the extent permitted by the Committee. If there is any other attempt to transfer unvested Shares or this Award or any other right or privilege granted hereby, this transfer shall be null
and void and be of no force or effect. You may exercise full voting rights with respect to the Shares until and unless the Shares are repurchased or deemed repurchased. 
 4. Release of Vested Shares. Learning Tree shall, upon your request or that of you heirs, promptly deliver a certificate or certificates evidencing any vested Shares to you. 
 5. Cancellation of Shares Repurchased. At any time following an event which causes any Shares to be repurchased or deemed repurchased,
Learning Tree may cancel the certificate for those Shares. The purchase price for any such Shares shall be delivered promptly after you deliver a written request for payment to the Secretary of Learning Tree. 
 6. Shares to be Issued in Compliance with Applicable Laws and Exchange Rules. By accepting the Award, you represent and agree that none of
the Shares are being acquired with a view to any sale, transfer or distribution in violation of the Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations promulgated thereunder, any
applicable state “blue sky” laws or any 

  

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applicable foreign laws. If required by the Committee, you shall furnish evidence satisfactory to Learning Tree to such effect (including a written
representation and an indemnification of Learning Tree in the event of any violation of any applicable laws). 
 7. Withholding of
Taxes. Upon the exercise of this Award, Learning Tree may require the person entitled to exercise it to pay Learning Tree the amount of any taxes which Learning Tree is required to withhold with respect to the exercise. If you elect, in
accordance with Section 83(b) of the Internal Revenue Code of 1986, as amended, to recognize ordinary income in the year of acquisition of the Shares, Learning Tree may require at the time of such election an additional payment for withholding
tax purposes based on the fair market value of such Shares as of the date of your acquisition of such Shares. 
 8. Participation in
Other Company Plans. The grant of this Award will not affect any right you might otherwise have to participate in and receive benefits under the then current provisions of any pension, insurance, or profit sharing program of Learning Tree or
of any subsidiary of Learning Tree. 
 9. Not an Employment or Service Contract. Nothing in this Award is to be construed as an
agreement, express or implied, by Learning Tree or any of its subsidiaries to employ you or contract for your services, nor will it restrict Learning Tree’s or such subsidiary’s right to discharge you or cease contracting for your services
or to modify, extend or otherwise affect in any manner whatsoever, the terms of any employment agreement or contract for services which may exist between you and Learning Tree or any of its subsidiaries. 
 10. Agreement Subject to Plan. This Award is subject to, and Learning Tree and you agree to be bound by, all of the terms and conditions of
the Plan, as it may be amended from time to time in accordance with its terms. No future amendment to the Plan will adversely affect your rights under this Award in a material manner without your prior written consent. 
 11. Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Agreement constitute our entire
agreement with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of Learning Tree and you with respect to the subject matter hereof. The interpretation, performance and enforcement of this
Agreement shall be governed by the internal substantive laws of the State of Delaware, without regard to the conflict of laws provisions of that or any other State. The Award can only be amended in a writing executed by a duly authorized Executive
Officer of Learning Tree. 
 TAX MATTERS FOR US CITIZENS 
 Payroll Tax Consequences 
 The following is a summary of the some tax consequences of a restricted stock
grant: 
 If you decide NOT to make an “83(b) Election” 
 Learning Tree will report compensation for you—and the related taxes will be due—as of the date that any Shares vest with the value based on the market price
of those Shares at that time (which could be more or less than the price on the Date of Grant). As a result, you will have to write Learning Tree a check for withholding tax, including without limitation, federal income, state income, Medicare and
social security, based upon the tax rates at the time. Because of this out-of-pocket cash obligation, you may find it necessary to sell sufficient shares to cover this obligation (or request that Learning Tree withhold sufficient shares from the
total Shares vested). Sale of shares or withholding of shares to cover the tax obligation is subject to Learning Tree’s blackout policy. Our chief financial officer should be consulted with respect to these restrictions. It is possible
to commit to sell or have Learning Tree withhold the necessary shares in advance to avoid blackout restrictions that may otherwise exist on the vest date. 
 If you decide to make an “83(b) Election” 
 Learning Tree will report compensation for you—and
the related taxes will be due—as of the date of Grant based on the value at that time, even if the Shares involved never vest (although you will have a capital loss when they are deemed repurchased. Because of this acceleration of the taxable
event, there is no tax incurred on the actual vest date. One consequence of this election is your out-of-pocket cash 

  

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obligation is triggered without the ability to sell or have Learning Tree withhold the Shares to fund the obligation (since the Shares are not actually
vested). 
 The 83(b) election is made with the Internal Revenue Service and is due thirty (30) days from the grant date of your
award. The election may be made for part or all of your restricted stock. We recommend that you consult with your own tax advisor regarding the advantages and disadvantages of making this election. IF YOU WANT TO MAKE THIS
ELECTION, IT IS YOUR RESPONSIBILITY TO PREPARE AND FILE WITH THE I.R.S. THE PROPER DOCUMENTATION. 
  

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 ASSIGNMENT SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer unto ________________________, _____________ [INSERT NUMBER OF SHARES] shares
of the Common Stock, $.0001 par value per share, of Learning Tree International, Inc., a Delaware corporation (the “Corporation”), standing in the undersigned’s name on the books of the Corporation represented by Certificate
No. _________ [INSERT CERTIFICATE NUMBER] herewith and does hereby irrevocably constitute and appoint each the Secretary or Assistant Secretary of the Corporation (acting alone or with one or more other such officer) as attorney to transfer the said
stock on the books of the Corporation with full power of substitution in the premises. 
  

	
	Dated _____________
	
	  
	Signature of Registered Holder
	
	
	Print Name of Registered Holder

  

 7Exhibit 4.3

 Exhibit 4.3 
 Learning Tree International, Inc. 
 STOCK OPTION AWARD AGREEMENT 
 To: [name of Optionee] (“Optionee”) 
 From: Learning Tree International, Inc. 
 Date:                 

 Learning Tree International, Inc. (“Learning Tree”) has adopted the 2007 Equity Incentive
Plan (the “Plan”) under which Learning Tree may grant options to purchase shares of Learning Tree's Common Stock, $.0001 par value (the “Common Stock”). We are pleased to inform you that the
Compensation Committee of our Board of Directors (the “Committee”) has decided to grant you an option under the Plan (your “Option”). 
 Your Option will be governed by the Plan, the attached Standard Terms and Conditions (the “Terms”) and the following specific
provisions (which are subject to adjustment under the Plan and the Terms): 
 The “Date of Grant” for your Option is:
                . 
 The “Expiration
Date” of your Option is:                 . 
 The
“Exercise Price” per share for your Option is: $             
 The “Maximum Number of Shares” potentially covered by your Option is: _____________. 
 The actual
“Number of Shares” covered by your Option will equal the following percentage of your Maximum Number of Shares, [Insert targets]: 
  

			
	 Target
	  	 Percentage of Maximum Number of Shares

		  	
		
		  	
		
		  	
		
		  	
		
		  	

  

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 However, regardless of the foregoing table, the Number of Shares will equal zero, and you will not be
able to exercise this Option, if [any Minimum Target is not met]. 
 Your Option is a Non-qualified Stock Option. 
 Vesting. As one of Learning Tree's employees, you will earn the right to exercise
                 percent (        %) of your Number of Shares on each of December 31,
            , December 31, 20         and December 31, 20         if you are employed by Learning
Tree or its subsidiaries on such date. Your Option cannot be exercised until December 31, 20        . As an example, at any time after December 31, 20        ,
but before December 31, 20        , the maximum number of shares you may purchase or have purchased under this Option is              percent
(        %) of the Number of Shares; after December 31, 20        , you may purchase all of the Number of Shares. Of course, you can never exercise the Option for
more than the Number of Shares (even if less than the Maximum Number of Shares) or after the Expiration Date (in each case as adjusted under the Terms and the Plan). 
 Please review the Plan and the Terms carefully, as they control your rights under your Option. Then sign (and if you are married, have your spouse sign) one copy of this letter and return it to Nancy McKinley. If you
have any questions, please call her. 
 We appreciate your continuing efforts on behalf of Learning Tree. 
  

			
	 Very truly yours,
 Learning Tree
International, Inc.

		
	By:	 	 
		
	Its:	 	 

 I hereby accept this Option and have reviewed the Plan and the Terms. I understand that I will lose my right
to exercise my Option under certain circumstances, including my ceasing to be an employee of Learning Tree, whether voluntary or not. I further understand that I may not transfer my Option except under circumstances described in the Plan.

  

	
	
	
	 
	“Optionee”

 I agree to be bound by all of the terms and conditions of the Option, including those set forth in the Plan
and the Terms. 
  

	
	Optionee's Spouse
	
	 
	

  

 2 

			
	
		
	Name:	 	 
		 	

 THE OPTION AND ANY SHARES ISSUABLE UNDER IT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, NOR REGISTERED OR QUALIFIED UNDER ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, SOLD, ASSIGNED, PLEDGED OR HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
SAID ACT OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREOF AND ANY APPLICABLE STATE SECURITIES LAWS AND AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER HEREOF THAT SUCH REGISTRATION IS NOT REQUIRED. 
  

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 STANDARD TERMS AND CONDITIONS 
 These Standard Terms and Conditions are attached to a letter (the "Option Letter") from Learning Tree International, Inc. (“Learning Tree”) granting an Option to you, and are
intended to govern that Option. All capitalized terms not specifically defined in these Standard Terms and Conditions have the meanings set forth in the Stock Option Award Agreement or in Learning Tree's 2007 Equity Incentive Plan. 
 1 . Option. You may exercise the Option to buy all or any part of any Number of Shares of Common Stock which is then exercisable at the
Exercise Price per share until the Expiration Date. This Option is not intended to qualify as an Incentive Stock Option. 
 2 .
Manner of Exercise. This Option may be exercised only (i) during your lifetime, by you; (ii) to the extent permitted by the Committee, by your designated beneficiary in the event of your death; and (iii) after your
death, by your transferees by will or the laws of descent or distribution. To exercise this Option, you must provide Learning Tree with (a) a written notice of exercise in the form attached hereto as Exhibit A, and (b) the full
purchase price of the shares to be purchased (i) in cash or by check or promissory note payable to the order of Learning Tree or (ii) by delivery of shares of Common Stock of Learning Tree previously purchased on the open market or
acquired more than six months previously through exercise of a stock option, and in your possession, valued at fair market value, or (iii) in consideration received from a licensed broker under a cashless exercise program, or (iv) any
combination of the foregoing or such other consideration as permitted by applicable laws and the Committee. This Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred
(100) shares or (b) the total number of shares then eligible for exercise, if less than one hundred (100) shares. 
 3 .
Termination of Service; Death or Disability. The Expiration Date is the earlier of (i) the date set out in this Award Agreement or (ii) the expiration of ten years from the Date of Grant, or (iii) the expiration
of a period following the time you cease (whether voluntarily or involuntarily) to be an employee of Learning Tree or its subsidiaries, which period will be (a) three (3) months if you ceased to be an employee for any reason other than
your death, Disability or Retirement, or (b) twelve (12) months if you die or become Disabled while you are an employee of Learning Tree or one of its subsidiaries. Any options not exercisable on the date that you cease to be an employee
(whether voluntarily or involuntarily) will be of no further force or effect. If you are not an employee of Learning Tree or one of its subsidiaries at the time this Option is granted, the Expiration Date will be determined in a similar manner based
on the time that you cease to be a regular consultant for Learning Tree and its subsidiaries. After the Expiration Date, the Option will expire and be void and of no further force or effect. 
 4 . Shares to be Issued in Compliance with Applicable Laws and Exchange Rules. By accepting the Option, you represent and agree, for
yourself and any person entitled to exercise this Option, that none of the shares purchased on exercise of the Option will be acquired with a view to any sale, transfer or distribution in violation of the Securities Act of 1933, as amended (the
"Securities Act"), and the rules and regulations promulgated thereunder, any applicable state "blue sky" laws or any applicable foreign laws. If required by the Committee at the time the Option is exercised, the person entitled to
exercise the Option shall furnish evidence satisfactory to Learning Tree to such effect (including a written representation and an indemnification of Learning Tree in the event of any violation of any applicable laws). Learning Tree does not have to
issue any shares on the exercise of this Option if there has not been full compliance with all applicable requirements of the Securities Act (whether by registration or satisfaction of exemption conditions), all applicable listing requirements of
any national securities exchange on which shares of the same class are then listed and any other requirements of law or of any regulatory bodies having jurisdiction over such issuance. 
  

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 5 . Withholding of Taxes. Upon the exercise of this Option, Learning Tree may require the
person entitled to exercise it to pay Learning Tree the amount of any taxes which Learning Tree is required to withhold with respect to the exercise. 
 6 . No Assignment or Transfer. This Option and all other rights and privileges granted hereby shall not be transferred, either voluntarily or by operation of law except (i) by will or the laws of
descent and distribution or (ii) to your designated beneficiary to the extent permitted by the Committee. If there is any other attempt to transfer this Option or any other right or privilege granted hereby, this Option and all rights and
privileges granted hereby shall immediately become null and void and be of no further force or effect. 
 7 . Participation in Other
Company Plans. The grant of this Option will not affect any right you might otherwise have to participate in and receive benefits under the then current provisions of any pension, insurance, or profit sharing program of Learning Tree or of
any subsidiary of Learning Tree. 
 8 . Not an Employment or Service Contract. Nothing in this Option is to be construed as an
agreement, express or implied, by Learning Tree or any of its subsidiaries to employ you or contract for your services, nor will it restrict Learning Tree's or such subsidiary's right to discharge you or cease contracting for your services or to
modify, extend or otherwise affect in any manner whatsoever, the terms of any employment agreement or contract for services which may exist between you and Learning Tree or any of its subsidiaries. 
 9 . No Rights as a Shareholder Until Issuance of Stock Certificate. Neither you nor any other person legally entitled to exercise this
Option will be entitled to any of the rights or privileges of a shareholder of Learning Tree with respect to any shares issuable upon any exercise of this Option unless and until a certificate or certificates representing the shares shall have been
actually issued and delivered. 
 10 . Agreement Subject to Plan. This Option is subject to, and Learning Tree and you agree to
be bound by, all of the terms and conditions of the Plan, as it may be amended from time to time in accordance with its terms. No amendment to the Plan will adversely affect your rights under this Option in a material manner without your prior
written consent. 
 11 . Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this
Option Agreement constitute our entire agreement with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of Learning Tree and you with respect to the subject matter hereof. The interpretation,
performance and enforcement of this Agreement shall be governed by the internal substantive laws of the State of Delaware, without regard to the conflict of laws provisions of that or any other State. The Option can only be amended in a writing
executed by a duly authorized Executive Officer of Learning Tree. 
  

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 EXHIBIT A 
 LEARNING TREE INTERNATIONAL, INC. 
 2007 EQUITY INCENTIVE PLAN 
 EXERCISE NOTICE 
 Date:_________________

 Learning Tree International, Inc. 
 1805 Library Street

 Reston, VA 20190 
 Attention: Chief Financial Officer

 1. Exercise of Option. Effective as of today, I, ________________, hereby elect to purchase _______ shares (the “Shares”)
of the Common Stock of Learning Tree International, Inc. (the “Company”) by exercising my Option granted pursuant to the Stock Option Award Agreement dated _____________, 20     (the “Award Agreement”).

 2. Delivery of Payment. With this Notice, I am enclosing the full purchase price of $_____ for the Shares in the following form
(check the applicable box): ___ cash; ___ check; ___ promissory note; ____ shares of Common Stock; ___ consideration delivered by a licensed broker under a cashless exercise program; or reduction in the amount of Company liability to me. If I am
paying with shares of Common Stock, I hereby represent and warrant that I previously purchased such shares on the open market or acquired them more than six months previously through exercise of a stock option. I agree to deliver to Learning Tree
withholding taxes due within five (5) days of receiving a written demand from Learning Tree. 
 3. Representations of Purchaser.
I acknowledge that I have received, read and understood the Plan and the Award Agreement, and I agree to abide by and be bound by their terms and conditions. 
 4. Rights as Shareholder. Until the issuance of the Shares, I will not have any right to vote the Shares or receive dividends thereon or exercise any other rights as a shareholder with respect to the Shares.

 5. Tax Consultation. I represent that I have consulted with any tax consultants I deem advisable in connection with the purchase or
disposition of the Shares and that I am not relying on Learning Tree for any tax advice. 
  

					
	 Submitted by:
	  		 	Accepted by:
	 PURCHASER
	  		 	LEARNING TREE INTERNATIONAL, INC.
			
	 	  		 	 
	 Signature
	  		 	By
			
	 	  		 	 
	 Print Name
 Address:
	  		 	 Title
 Address:
 1805 Library Street
 Reston, VA 20190

			
	 	  		 	

  

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