Document:

Mount Knowledge Holdings, Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

AMENDMENT NO. 2 TO DEFINITIVE AGREEMENT 

THIS AMENDMENT NO.2 TO DEFINITIVE AGREEMENT (the “Amendment”) is
made and entered into as of this 31st day of December, 2010, by and
among THE LANGUAGE KEY TRAINING LTD, a British Virgin Islands Corporation, Dirk
Haddow, Mark Wood, Chris Durcan and Jeff Tennenbaum, individually, (collectively
hereinafter referred to as the “Sellers”), and MOUNT KNOWLEDGE HOLDINGS, INC., a
Nevada Corporation (the “Company”), (collectively referred to as the “Parties”).

RECITALS 

WHEREAS, the Parties have entered into that certain Definitive
Agreement (the “Definitive Agreement”) dated as of October 5, 2010 and a
subsequent Amendment No.1 to Definitive Agreement (the “Amendment No.1”) dated
as of October 29, 2010, pursuant to which the Sellers have agreed to sell to the
Company and the Company has agreed to purchase from the Sellers a certain amount
of ownership interest in one or more of the entities owned and operated by the
Sellers, including additional considerations, in accordance with the terms and
conditions set forth therein; 

WHEREAS, Sections 3.3, 3.4 and 3.5 of the Definitive Agreement
provided that certain events described therein shall occur on October 31, 2010
and Section 5.1 of the Definitive Agreement provided that the Closing shall
occur on or before October 31, 2010 or at such later date as shall be mutually
agreed upon by the Parties; and 

WHEREAS, the Parties mutually agreed in Amendment No. 1 to
amend Sections 3.3, 3.4 and 3.5 of the Definitive Agreement to reflect that the
events described therein shall occur on or before December 31, 2010 and to amend
Section 5.1 of the Definitive Agreement to reflect that Closing shall occur on
or before December 31, 2010 or at such later date as shall be mutually agreed
upon by the Parties; 

WHEREAS, Sections 2.0 and 3.0 of the Definitive Agreement
provide that a certain events described therein shall occur at Closing,
including the execution of certain agreements set forth in one or more exhibits
attached thereto;

WHEREAS, the Parties mutually agreed to amend Sections 2.0 and
3.0 of the Definitive Agreement to reflect certain modifications in the terms
and conditions set forth in one or more of the agreements described therein and
attached as exhibits thereto, including, but not limited to, the inclusion of
one or more additional agreements described herein in this Amendment No. 2 and
attached as additional exhibits herein; 

WHEREAS, Section 9.8 of the Definitive Agreement provided that
no modification thereof shall be effective unless in writing and signed by all
the Parties; and 

WHEREAS, the Parties intend that this Amendment satisfy the
requirements of Section 9.8 of the Definitive Agreement with respect to the
matters set forth herein. 

NOW, THEREFORE, in consideration of the promises and for other
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Parties, agree as follows: 

AGREEMENT 

1.      Amendments. 

(a)      Section 2.0 of the Definitive
Agreement is hereby amended by replacing Exhibit A referenced therein (the “LK
Asia Subscription Agreement”) with an amended subscription agreement attached
thereto as Exhibit A, (the “LK Asia Subscription Agreement”); 

(b)      Section 3.1 of the Definitive
Agreement is hereby amended hereby amended and restated in its entirety to read
as follows: 

“Share Purchase and Cancellation
Agreement. The Parties agree that LK Asia, as defined in the Definitive
Agreement, shall have the right to purchase from the Sellers a total of Three
Hundred Twenty-Five Thousand Seven Hundred Ten (325,710) Ordinary A Shares of
the LK Asia (the “LK “A” Shares”), owned and held by the Sellers, for a purchase
price to be determined at Closing and to be paid in the form of a total of One
Million Eight Hundred Thousand (1,800,000) Shares of common stock of the Mount
Knowledge Holdings, Inc., in accordance with the terms and conditions of the
Share Exchange Agreement, attached hereto as Exhibit B (the “Share Exchange
Agreement”). 

(c)      Section 3.2 of the Definitive
Agreement is hereby amended hereby amended and restated in its entirety to read
as follows: 

“Stock Issuance. Company agrees
to issue to LK Asia and/or its assigns at Closing a total of four hundred eighty
thousand (480,000) shares of the Common Stock of Mount Knowledge Holdings, Inc.
subject to a twelve (12) month sale restriction from the date of issuance (the
“Additional Sale Restriction”). The beneficial holder(s) of said shares shall
execute a letter of acknowledgment of said Additional Sale Restriction upon the
issuance of and prior to the receipt of said shares.

(d)      Section 3.2 of the Definitive
Agreement is hereby further amended by omitting Exhibit C, the “Stock Purchase
Warrant Agreement”, as originally referenced therein prior to the amendment and
restatement set forth in Section 1(c) hereinabove. 

(e)      Section 3.3 of the Definitive
Agreement is hereby amended hereby amended and restated in its entirety to read
as follows: 

“License Revocation and
Assignment. Sellers shall cause the cancellation of the trademark licensing
royalty agreement (the “Royalty Agreement”) with Foxglove International
Enterprises Ltd, a British Virgin Islands Corporation (the “Licensor”) as set
forth in the executed license revocation and release deed agreement dated
December 31, 2010, attached hereto as Exhibit D (the “License Revocation and
Release Deed Agreement”), in exchange for a cash payment from LK Asia in the
amount of Thirty-Three Thousand Four Hundred Eighty and No/100 Dollars (USD
$33,480.00), due and payable to Foxglove International Enterprises Ltd. (BVI) on
the Closing Date, including the assignment to LK Asia the full and unencumbered rights to the “Language Key” name,
trademarks, service marks, and any other intellectual property rights owned by
Licensor with no limitations and free and clear any claims against LK Asia,
and/or its operation subsidiaries, now or in the future, as set forth in the
executed assignment agreement dated December 31, 2010, attached hereto as
Exhibit E (the “Assignment Deed Agreement”), in exchange for a cash payment from
LK Asia in the amount of Thirty-Three Thousand Four Hundred Eighty and No/100
Dollars (USD $33,480.00), due and payable to Foxglove International Enterprises
Ltd. (BVI) on the Closing Date.” 

2

(f)      Section 3.4 of the Definitive
Agreement is hereby amended hereby amended and restated in its entirety to read
as follows: 

“Payment of Royalties Owed. The
Parties agree that Foxglove International Enterprises Ltd. a BVI company (the
“Licensor”) shall be entitled to receive royalty payments (the “Royalty
Payments”) from Language Key Training Solutions Ltd, formerly known as The
Language Key Training Ltd., a Hong Kong corporation (a subsidiary of LK Asia),
for fiscal years 2008 and 2009 in the amount of Sixty-Five Thousand Seven
Hundred and Seventy-Six Dollars (USD $65,776), 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 thereafter as set
forth in an executed promissory note, attached hereto as Exhibit F (the “LK
Promissory Note”). This amount shall be recorded as a current liability due to
related parties on the balance sheet of Language Key Training Solutions Ltd.
until paid in full.” 

(g)      Section 3.5 of the Definitive
Agreement is hereby amended hereby amended and restated in its entirety to read
as follows: 

“Use of Existing Training Content.
The Parties agree that The Language Key Ltd. (a BVI company) and/or its
successor company would be granted a licensing right to use, rework, and/or
publish certain existing training content (excluding, content which would be
development from the date of this Agreement) owned and held by The Language Key
Training Ltd. (a Hong Kong company) and/or its successor company for a term of
eighty-eight (88) years, the terms and conditions set forth in the executed
content licensing agreement dated December 31, 2010, attached hereto as Exhibit
G (the “LK Existing Content Licensing Agreement”). 

3.      Defined Terms. Unless
otherwise defined herein, all capitalized terms shall have the meanings
specified or referred to in the Definitive Agreement. 

4.      GOVERNING LAW. THIS
AMENDMENT AND THE PERFORMANCE HEREOF SHALL BE CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA, OF THE 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 THE STATE OF NEVADA, OF THE UNITED STATES OF AMERICA. 

3

5.      Counterparts. This
Amendment may be executed in any number of counterparts, all of which will
constitute one and the same instrument and shall become effective when one or
more counterparts have been signed by each of the parties and delivered to the
other party. Facsimile or other electronic transmission of any signed original
document shall be deemed the same as delivery of an original. Except as provided
in this Amendment, the Merger Agreement shall remain in full force and effect in
accordance with its terms. 

IN WITNESS WHEREOF, the Parties hereto have caused this
Amendment to be duly executed on this 31st day of December 2010. 

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

4

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

	Print Name: 	 	 
	 	 	 
	 	 	 
	 	 	 
	Print Name: 	 	 

5

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

6

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

7

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

8Mount Knowledge Holdings, Inc.: Exhibit 10.2 - Filed by newsfilecorp.com

EXHIBIT A 

LK ASIA SUBSCRIPTION AGREEMENT 

 

MOUNT KNOWLEDGE HOLDINGS, INC. 

MOUNT KNOWLEDGE ASIA LIMITED 

LANGUAGE KEY ASIA LIMITED 

===================================== 

 

SUBSCRIPTION AGREEMENT 

IN RESPECT OF 

ORDINARY SHARES IN THE CAPITAL OF 

LANGUAGE KEY ASIA LIMITED 

 

31 DECEMBER 2010 

 

1 

CONTENTS 

	1. 	DEFINITIONS
      AND INTERPRETATION 	3

	2. 	SUBSCRIPTION 	5 
	3. 	CONDITIONS
      	7

	4. 	COMPLETION 	8 
	5. 	UNDERTAKINGS,
      REPRESENTATIONS AND WARRANTIES OF THE COMPANY 	9

	6. 	REPRESENTATIONS AND
      WARRANTIES OF THE SUBSCRIBER AND THE SUBSCRIBER SUBSIDIARY 	10 
	7. 	FURTHER
      ASSURANCES 	12
  
	8. 	VARIATION 	12 
	9. 	ASSIGNMENT
      	12
  
	10. 	SEVERABILITY 	12 
	11. 	ANNOUNCEMENTS 	12
  
	12. 	TIME OF THE ESSENCE 	13 
	13. 	COSTS AND
      EXPENSES 	13
  
	14. 	NOTICES 	13 
	15. 	COUNTERPARTS
      	14
  
	16. 	GOVERNING LAW 	14 
	17. 	JURISDICTION
      	14
  

2 

THIS AGREEMENT is made on the 31ST day of December
2010. 

BY AND AMONG: 

	 	(1) 	
      MOUNT KNOWLEDGE HOLDINGS (US), INC., whose registered
      office is at 39555 Orchard Hill Place, Suite 600 PMB 6096, Novi, Michigan
      48375 (the “SUBSCRIBER”);

	 	 	 
	 	(2) 	
      MOUNT KNOWLEDGE ASIA (HONG KONG) LIMITED, whose
      registered office is 10/F, China Merchants Commercial Building, 15-16
      Connaught Road West, Sheung Wan, Hong Kong (the “SUBSCRIBER SUBSIDIARY”);
      and

	 	 	 
	 	(3) 	
      LANGUAGE KEY ASIA LIMITED, whose registered office is at
      10/F, China Merchants Commercial Building, 15-16 Connaught Road West,
      Sheung Wan, Hong Kong (the “COMPANY”).

WHEREAS: 

	 	(A) 	
      The Company is a company limited by shares duly
      incorporated in Hong Kong.

	 	 	 	 
	 	(B) 	
      At the date of this Agreement, the Company has an
      authorized capitalization as follows:

	 	 	 	 
	 		(i) 	
      Ordinary A shares of USD $1.00 each, 1,000,000 shares in
      the authorized share capital (the “LK “A” Shares”);

	 	 	 	 
	 		(ii) 	
      Ordinary B shares of USD $0.01 each, 100,000,000 shares
      in the authorized share capital (the “LK “B” Shares”); and

	 	 	 	 
	 		(iii) 	
      Preferred Shares of USD $0.01 each, 100,000,000 shares in
      the authorized share capital (the “LK “P” Shares),

	 	 	 	 
	 			
      of which 325,710 LK “A” Shares have been issued and fully
      paid.

	 	 	 	 
	 	(C) 	
      The Subscriber and Subscriber Subsidiary wish to
      subscribe and the Company wishes to sell shares of stock in the Company,
      consisting of a number of shares of the Company’s LK “B” Shares as set
      forth in the following terms and subject to the conditions of this
      Agreement.

NOW IT IS HEREBY AGREED as follows: 

	1. 	
      DEFINITIONS AND INTERPRETATION.

	 	 	 	 
		1.1 	
      In this Agreement (including the recitals above), the
      following expressions shall, unless the context otherwise requires, have
      the following meaning:

	 	 	 	 
			1.1.1 	
      AFFILIATE in relation to a specified person, means
      a person which directly or indirectly controls or is controlled by or is
      under direct or indirect common control with that specified
  person;

3 

	 		1.1.2 	
      CONTROL of a person for the purpose of this
      definition being taken to mean direct or indirect ownership of at least
      50% of the voting rights of that person;

	 	 	 	 
	 		1.1.3 	
      BUSINESS DAY means any day (other than a Saturday)
      on which banks are normally open for business in Hong Kong;

	 	 	 	 
	 		1.1.4 	
      CONDITIONS means the conditions set out in clause
      3;

	 	 	 	 
	 		1.1.5 	
      COMPLETION means completion of the Subscription in
      accordance with clause 4;

	 	 	 	 
	 		1.1.6 	
      HK$ means Hong Kong dollar and references to any
      amount in such currency shall be deemed to include a reference to any
      equivalent amount in any other currency;

	 	 	 	 
	 		1.1.7 	
      HONG KONG means the Hong Kong Special
      Administrative Region of the PRC;

	 	 	 	 
	 		1.1.8 	
      LK “B” SHARES means the new Ordinary B Shares to
      be allotted and issued in accordance with the terms and conditions of this
      Agreement;

	 	 	 	 
	 		1.1.9 	
      PRC means The People's Republic of China, which
      expression, except where the context requires, does not apply to Hong
      Kong, Macau or Taiwan;

	 	 	 	 
	 		1.1.10 	
      SUBSCRIBER ANNOUNCEMENT means the press release,
      public announcement and/or required regulatory filing of the Subscription
      to be published by the Subscriber on the date of this Agreement;

	 	 	 	 
	 		1.1.11 	
      SUBSCRIPTION means the subscription for, and the
      allotment and issuance of, the B Shares in accordance with the terms and
      conditions of this Agreement;

	 	 	 	 
	 		1.1.12 	
      SUBSCRIPTION AMOUNT means USD
$1,000,000;

	 	 	 	 
	 		1.1.13 	
      SUBSCRIPTION PRICE shall have the meaning given to
      it in clause 2.1.4;

	 	 	 	 
	 		1.1.14 	
      US$ means United States dollar and references to
      any amount in such currency shall be deemed to include a reference to any
      equivalent amount in any other currency.

	 	 	 	 
	 	1.2 	
      In this Agreement, references to one or more of following
      shall have their respective meaning:

	 	 	 	 
	 		1.2.1 	
      reference to persons or entities include references to
      bodies corporate and unincorporated;

	 	 	 	 
	 		1.2.2 	
      reference to any gender include references to all
      genders, and references to the singular include references to the plural
      and vice versa;

	 	 	 	 
	 		1.2.3 	
      reference to recitals, clauses and schedules are
      references to the recitals, clauses and schedules of this Agreement and
      shall be deemed to form part of this Agreement;

	 	 	 	 
	 		1.2.4 	
      reference to any statute or statutory provisions includes
      a reference to that statute or statutory provision as from time to time
      amended, extended or re-enacted; and,

4 

	 	1.2.5 	
      reference to Clause headings are inserted for convenience
      only and shall not affect the interpretation of this
  Agreement.

	2. 	
      SUBSCRIPTION.

	 	 	 	 
		2.1 	
      Subscription and Subscription Price.

	 	 	 	 
			2.1.1 	
      The Subscriber shall, or at the election of the
      Subscriber, the Subscriber Subsidiary shall subscribe for, and the Company
      shall allot to the Subscriber or the Subscriber Subsidiary, as
      appropriate, and issuance in accordance with clause 4.3.3, the LK “B”
      Shares at the Subscription Price;

	 	 	 	 
			2.1.2 	
      The aggregate consideration for the Subscription shall be
      the Subscription Amount;

	 	 	 	 
			2.1.3 	
      The LK “B” Shares to be allotted and issued pursuant to
      the Subscription shall be such number of Shares as results from dividing
      the Subscription Amount by the Subscription Price, but subject to rounding
      down to the nearest whole number;

	 	 	 	 
			2.1.4 	
      The Subscription Price shall be the price per B Share
      which shall be $0.10;

	 	 	 	 
			2.1.5 	
      The LK “B” Shares shall be allotted by the Company to the
      Subscriber or the Subscriber Subsidiary, as appropriate, and issued in
      accordance with clause 4.3.3, fully paid and free from all liens, charges,
      security interests, encumbrances, adverse claims, options and third party
      rights; and

	 	 	 	 
			2.1.6 	
      The LK “B” Shares shall rank pari passu in all respects
      with all the Shares in issue at the date of allotment and in particular
      will rank in full for all dividends and other distributions declared, made
      or paid at any time after the date of allotment.

	 	 	 	 
		2.2 	
      Payments and Deliverables. Subscriber shall pay
      the subscription price for the LK “B” Shares by delivering good funds to
      the Company by check or wire transfer made payable to LANGUAGE KEY ASIA,
      LTD., along with two (2) fully executed signature pages to this
      Agreement. Such delivery of funds shall be made against delivery by the
      Company to Subscriber a countersigned acceptance of this executed
      Agreement by Subscriber. Subscriber shall pay the subscription price for
      the LK “B” Shares in the form of cash payments over a twelve (12) month
      period from the date of execution of this Agreement, in accordance with
      the following subscription payment schedule (the “Subscription
      Payments”):

	 	 	 	 
			2.1.1 	
      First Payment. A payment in the amount of $75,000
      due and payable on or before December 31, 2010 following the date of
      execution of this Agreement;

	 	 	 	 
			2.1.2 	
      Second Payment. A payment in the amount of $75,000
      on or before January 15, 2011;

	 	 	 	 
			2.1.3 	
      Third Payment. A payment in the amount of $200,000
      on or before February 15, 2011;

	 	 	 	 
			2.1.4 	
      Fourth Payment. A payment in the amount of
      $125,000 on or before March 15, 2011; and

5 

	 		2.1.5 	
      Subsequent Payments. Seven (7) equal payments of
      $75,000 payable on first day of each month beginning on or before April
      15, 2011.

	 	 	 	 
	 	2.3 	
      Payment Default.

	 	 	 	 
	 		2.3.1 	
      Default (or Breach). If Subscriber fails to make
      subscription payments as set forth in Section 2.2 hereinabove, Subscriber
      shall be considered in default and in breach of the terms and conditions
      of this Agreement (the “Event of Default”).

	 	 	 	 
	 		2.3.2 	
      Right to Cure a Default. If Subscriber is in
      default or in breach of the terms and conditions as set forth in Section
      2.2 hereinabove, Subscriber shall have the right to cure the default
      within sixty (60) days from the date of the default (the “Cure
      Period”).

	 	 	 	 
	 		2.3.3 	
      Remedies. In the event the Subscriber and/or
      Subscriber Subsidiary is unable to cure the default within the Cure
      Period, the Company shall entitled to the following
  remedies:

	 	(a) 	
      Liquidated Damages. Subscriber and/or Subscriber
      Subsidiary shall pay to the Company liquidated damages in the amount of
      $500 per day for each and every day the Subscriber and/or Subscriber
      Subsidiary is in default after the sixtieth (60th) day until
      the Subscriber and/or Subscriber Subsidiary has cured the
  default.

	 	 	 	 
	 	(b) 	
      Right to Vote. If the default is not cured within
      ninety (90) days from the date of default, then the Subscriber and/or
      Subscriber Subsidiary shall forfeit the right to vote the B Shares
      subscribed to and received until the default has been cured.

	 	 	 	 
	 	(c) 	
      Right to Rescind. If the default is not cured,
      along with any other outstanding amounts owed to Company, on or before the
      date in which the final payment is due and payable as set forth in Section
      2.2 (on or before October 15, 2011), hereinabove, then the Company shall
      have the right to rescind the subscription of LK “B” Shares by Subscriber
      and/or Subscriber Subsidiary as set forth in this Agreement, and any and
      all B Shares received by Subscriber and/or Subscriber Subsidiary shall be
      cancelled (the “Right to Rescind”). Company shall provide notice to
      Subscriber and/or Subscriber Subsidiary with ten (10) business days of the
      default of final payment of its intentions to exercise its Right to
      Rescind (the “Notice to Rescind”), unless otherwise mutually agreed to
      prior in writing by the parties to this Agreement.

	 	 	 	 
	 	(d) 	
      Allocation of Payments for Subscribed Shares. If
      Company has provided Notice to Rescind of the subscribed LK “B” Shares by
      Subscriber and/or Subscriber Subsidiary due to an uncured default, as set
      forth in Section 2.3.2, hereinabove, then the Company shall, within twenty
      (20) business days following the Notice to Rescind, have the right to
      exercise on the following options:

	 	 	 	 
	 		(i) 	
      Return of Payments. Company may elect to return to
      Subscriber and/or Subscriber Subsidiary the total amount paid by
      Subscriber and/or Subscriber Subsidiary to the Company on the date
      of Notice to Rescind, subject to deductions of any unpaid penalty fees
      (the “Return of Subscription Payments”);

6 

	 		(ii) 	
      Convert Payment to Shares. Company may elect to
      converted the total amount paid by Subscriber and/or Subscriber Subsidiary
      to the Company on the date of Notice to Rescind, subject to deductions of
      any unpaid penalty fees, into LK “B” Shares of the Company at a purchase
      price of USD $1.00 per share (the “New Subscription”); or

	 	 	 	 
	 		(iii) 	
      Convert Payment to Promissory Note. Company may
      elect to converted the total amount paid by Subscriber and/or Subscriber
      Subsidiary to the Company on the date of Notice to Rescind, subject to
      deductions of any unpaid liquidated damages, into a corporate promissory
      note for the benefit of Subscriber and/or Subscriber Subsidiary for a term
      of ten (10) years at an interest rate of three (3%) percent per annum, due
      and payable on a quarterly basis with the first payment to commence twelve
      (12) months from the date of execution of the promissory note (the
      “Promissory Note”).

	 	 	 	 
	 	(e) 	
      Collection Expenses. Upon the occurrence of an
      Event of Default, the Company shall be entitled to recover from the
      Subscriber and/or Subscriber Subsidiary all Company’s costs of collection,
      including the Company’s attorneys’, paralegals’, and legal assistants’
      fees (whether incurred in connection with any judicial, bankruptcy,
      reorganization, administrative, appeals or other proceedings and whether
      such fees or expenses arise before proceedings are commenced or after
      entry of any judgment), and all other costs or expenses incurred in
      connection therewith.

	3. 	
      CONDITIONS.

	 	 	 	 
		3.1 	
      Completion of the Subscription shall be conditional upon
      the following conditions having been fulfilled or, at the discretion of
      the Subscriber and the Subscriber Subsidiary, waived:

	 	 	 	 
			3.1.1 	
      the Company’s Announcement being released for publication
      on the third Business Day immediately following the date of this Agreement
      as may be required by certain regulatory authority; and

	 	 	 	 
			3.1.2 	
      the Subscriber and the Subscriber Subsidiary, having
      jointly received from the Company, at the Company’s expense, a signed
      opinion from the Company’s Hong Kong and PRC accountant that clearly
      articulates the potential Hong Kong and PRC financial and tax liabilities
      that the Company may incur as a result of entering into the
    Agreement.

	 	 	 	 
		3.2 	
      In the event that any of the Conditions is not fulfilled
      or waived by the Subscriber and the Subscriber Subsidiary by the date of
      execution of this Agreement, this Agreement and all rights and obligations
      of the parties hereunder shall automatically cease and terminate, save for
      accrued rights and obligations.

	 	 	 	 
		3.3 	
      The Company undertakes to notify the Subscriber and the
      Subscriber Subsidiary promptly in writing following the satisfaction of
      the Conditions.

7 

	 	3.4 	
      If, at any time prior to Completion, there shall develop,
      occur, exist or come into effect:

	 	 	 	 
	 		3.4.1 	
      any outbreak or escalation of hostilities involving the
      PRC or Hong Kong or the declaration by the PRC or Hong Kong of a national
      emergency or war; or

	 	 	 	 
	 		3.4.2 	
      any act of God, riot, public disorder, civil commotion,
      fire, flood, explosion, epidemic, terrorism, war, strike, lock-out or
      other calamity or crisis that causes the obligations under this Agreement
      to be impossible to carry out; or

	 	 	 	 
	 		3.4.3 	
      the imposition of any moratorium, suspension or material
      restriction (save and except those restrictions already imposed on private
      companies under the company law of Hong Kong at the time of signing of
      this Agreement) on the securities of the Company; or

	 	 	 	 
	 		3.4.4 	
      any change in financial, political, military, industrial,
      economic, legal, fiscal, regulatory or stock market matters or conditions
      in Hong Kong or the PRC or the United States of America; or

	 	 	 	 
	 		3.4.5 	
      any new law or regulation or change in existing laws or
      regulations in Hong Kong or the United States of America or any change in
      the interpretation or application thereof by any court or other competent
      authority in Hong Kong or the United States of America, which, in the
      reasonable opinion of the Subscriber and/or the Subscriber Subsidiary as
      determined by the Subscriber and/or Subscriber Subsidiary, is or will be
      or is likely to be materially adverse to the business or financial
      condition of either (i) the Company and its Affiliates taken as a whole,
      or (ii) the companies or entities or businesses which the Company plans to
      acquire pursuant to the Acquisition, taken as a whole, then the Subscriber
      and the Subscriber Subsidiary shall each have the right to immediately
      terminate this Agreement by written notice to the Company, provided that
      the Subscriber and the Subscriber Subsidiary shall each consult with the
      Company before electing to terminate this Agreement pursuant to this
      clause. Upon the termination of this Agreement, all rights and obligations
      of the parties hereunder shall cease and terminate save for accrued rights
      and obligations.

	4. 	
      COMPLETION.

	 	 	 	 
		4.1 	
      Completion shall take place on the 15th of
      December 2010, or such later date as may be agreed in writing between the
      parties to this Agreement.

	 	 	 	 
		4.2 	
      If Completion has not occurred (other than through the
      failure of the Subscriber or the Subscriber Subsidiary, as appropriate, to
      comply with the obligations under clause 4.3 to the extent applicable to
      it) by the 15h of December 2010, this Agreement and all rights
      and obligations of the parties hereunder shall automatically cease and
      terminate save for accrued rights and obligations.

	 	 	 	 
		4.3 	
      At Completion:

	 	 	 	 
			4.3.1 	
      the Company shall deliver a written confirmation
      addressed to the Subscriber and the Subscriber Subsidiary jointly and
      dated the date of Completion confirming that there has been no material
      adverse change in the business or financial condition of the Company, its
      Affiliates, taken as a whole, since the date of this
  Agreement;

8 

	 	4.3.2 	
      the Subscriber or the Subscriber Subsidiary, as
      appropriate, shall make payment of the Subscription Amount in immediately
      transferable funds by direct transfer to such account as the Company shall
      notify the Subscriber and the Subscriber Subsidiary in writing at least
      three Business Days prior to Completion (the “DESIGNATED ACCOUNT”) and
      such transfer into the Designated Account shall constitute a complete
      discharge of the obligations of the Subscriber and the Subscriber
      Subsidiary in respect of the Subscription Amount and under this
      Agreement;

	 	 	 
	 	4.3.3 	
      the Company shall allot the LK “B” Shares to the
      Subscriber or the Subscriber Subsidiary, as appropriate, and issue a share
      certificate in respect of the LK “B” Shares in the name of MOUNT KNOWLEDGE
      ASIA LTD or other entity designated by the Subscriber and shall promptly
      thereafter register MOUNT KNOWLEDGE ASIA LTD as member in respect of the
      LK “B” Shares and deliver the share certificate to the Subscriber or the
      Subscriber Subsidiary, as appropriate, for such purpose;

	 	 	 
	 	4.3.4 	
      the Subscriber may arrange for a Company Announcement to
      be published stating that Completion has taken place on the date of
      Completion.

	5. 	
      UNDERTAKINGS, REPRESENTATIONS AND WARRANTIES OF THE
      COMPANY.

	 	 	 	 
		5.1 	
      The Company hereby represents and warrants to each of the
      Subscriber and the Subscriber Subsidiary that:

	 	 	 	 
			5.1.1 	
      it has full power, authority and capacity, and has taken
      all actions required, including but not limited to, the obtaining of all
      necessary governmental or regulatory approvals in any applicable
      jurisdiction and consents from third parties, in order to enter into and
      perform its obligations under this Agreement and the transactions
      contemplated herein (including the creation, allotment and issue of the LK
      “B” Shares);

	 	 	 	 
			5.1.2 	
      the directors of the Company have full power and
      authority to effect the allotment of the LK “B” Shares in accordance with
      the terms of this Agreement and under the memorandum and articles of
      association of the Company;

	 	 	 	 
			5.1.3 	
      the entry into by the Company of, or the performance by
      the Company of its obligations under, this Agreement and the transactions
      contemplated herein (including the creation of the LK “B” Shares and their
      allotment and issue pursuant to this Agreement) does not and will not
      cause any violation or breach of (i) any articles of association or other
      constitutional documents of the Company and/or any of its Affiliates; or
      (ii) any law, rule or regulation of any applicable jurisdiction (including
      the Companies Ordinance and the rules and regulations of Hong
  Kong);

	 	 	 	 
			5.1.4 	
      the entry into by the Company of, or the performance by
      the Company of its obligations under, this Agreement and the transactions
      contemplated herein (including the creation of the LK “B” Shares and their
      allotment and issue pursuant to this Agreement) does not and will not
      cause any violation or breach of any agreement to which the Company and/or
      any of its Affiliates is a party or by which the Company is or any of them
      is bound and will not infringe or exceed any
limits on, powers of, or restrictions on or the terms of any
      contract, obligation or commitment whatsoever of, the Company and/or any
      of its Affiliates and/or their respective board of directors;
and

9 

	 		5.1.5 	
      the authorized and issued capital of the Company conform
      in all respects to the description thereof contained in recital (B) of
      this Agreement and, save as disclosed in the last annual accounts of the
      Company as at the date of this Agreement, there are no securities issued
      by the Company convertible into or exchangeable for, or rights, warrants
      or options to subscribe for or acquire from the Company, or obligations of
      the Company to issue or grant, any LK “B” Shares or other securities of
      the Company and there is no agreement or commitment outstanding which
      calls for the allotment or issue, or accords to any person the right to
      call for the allotment or issue, of any Shares or other securities of the
      Company.

	 	 	 	 
	 	5.2 	
      Each of the representations and warranties of the Company
      set out in clause 5 shall be construed as separate, and shall be deemed to
      be repeated as of the date of Completion.

	 	 	 	 
	 	5.3 	
      The Company hereby acknowledges that each of the
      Subscriber and the Subscriber Subsidiary has entered into this Agreement
      in reliance on the Company’s undertakings, representations and warranties
      contained in the provisions of this clause 5.

	6. 	
      REPRESENTATIONS AND WARRANTIES OF THE SUBSCRIBER AND
      THE SUBSCRIBER SUBSIDIARY.

	 	 	 	 
		6.1 	
      The Subscriber and the Subscriber Subsidiary hereby agree
      and acknowledge with, and represent and warrant to, the Company
    that:

	 	 	 	 
			6.1.1 	
      the Subscriber or the Subscriber Subsidiary (as the case
      may be) has full power, authority and capacity, and has taken all actions
      required, including but not limited to, the obtaining of all necessary
      governmental or regulatory approvals in any applicable jurisdiction and
      consents from third parties, in order to enter into and perform its
      obligations under this Agreement and the transactions contemplated
      herein;

	 	 	 	 
			6.1.2 	
      the entry into by the Subscriber or the Subscriber
      Subsidiary of, or the performance by the Subscriber or the Subscriber
      Subsidiary (as the case may be) of the terms of, this Agreement and the
      transactions contemplated herein does not and will not cause any violation
      or breach of (i) any articles of association or other constitutional
      documents of the Subscriber or the Subscriber Subsidiary, or (ii) any law,
      rule or regulation of any applicable jurisdiction or stock
  exchange;

	 	 	 	 
			6.1.3 	
      the entry into by the Subscriber or the Subscriber
      Subsidiary of, or the performance by the Subscriber or the Subscriber
      Subsidiary (as the case may be) of the terms of, this Agreement and the
      transactions contemplated herein does not and will not cause any violation
      or breach of any agreement to which the Subscriber or the Subscriber
      Subsidiary is a party or by which either of them is bound and will not
      infringe or exceed any limits on, powers of, or restrictions on or the
      terms of any contract, obligation or commitment whatsoever of, the
      Subscriber or the Subscriber Subsidiary and/or their respective board of
      directors;

10 

	 	6.1.4 	
      the LK “B” Shares have not been registered under the
      United States Securities Act of 1933, as amended (the “SECURITIES ACT”)
      and may not be offered or sold in the United States except pursuant to an
      exemption from, or in a transaction not subject to, the registration
      requirements of the Securities Act;

	 	 	 
	 	6.1.5 	
      the Subscriber or the Subscriber Subsidiary (as the case
      may be) is purchasing the B Shares for investment purposes and not with a
      view to the distribution of the B Shares;

	 	 	 
	 	6.1.6 	
      the Subscriber or the Subscriber Subsidiary (as the case
      may be) is aware of and will comply with the securities laws of the United
      States and other jurisdictions that prohibit, INTER ALIA, any investor who
      has received from the Company or any of the directors, officers,
      employees, representatives, agents or advisers of the Company material,
      non-public information relating to the Company and the Acquisition
      (including, without limitation, any assets or liabilities subject to the
      Acquisition) from creating, transferring or otherwise howsoever disposing
      of or relinquishing any interest (including by the creation of an option)
      in any LK “B” Shares and any shares or other securities of the Company
      deriving from the LK “B” Shares (pursuant to any rights issue,
      capitalization issue or other form of capital reorganization);

	 	 	 
	 	6.1.7 	
      the LK “B” Shares will be acquired by the Subscriber or
      the Subscriber Subsidiary (as the case may be) on the basis
  that:

	 	(i) 	
      each of the Subscriber and the Subscriber Subsidiary has
      relied as at the date of this Agreement, and will rely after the date of
      this Agreement, on the information provided by the Company;

	 	 	 
	 	(ii) 	
      in respect of any information or material concerning the
      Company (including, without limitation, any assets or liabilities of the
      Company), whether prepared by the Company or its representatives or
      advisers or otherwise, which has been furnished by or on behalf of the
      Company on or before the date of this Agreement to, and has been and will
      be relied on by, the Subscriber and its Affiliates, the Company and its
      representatives and advisers have made reasonable endeavors to ensure and
      believe in good faith that such information or material is materially
      accurate but does not otherwise warrant the accuracy or completeness of
      such information or material;

	 	 	 
	 	(iii) 	
      subject to the extent provided in sub-paragraphs (i) and
      (ii) above, each of the Subscriber and the Subscriber Subsidiary has
      conducted its own due diligence investigation, and relied on its own
      knowledge and information, with respect to the Company (including, without
      limitation, any assets or liabilities of the LK Entities) in making its
      investment decision regarding the LK “B” Shares and has not relied, and
      will not be entitled to rely, on any legal opinion or other advice given
      by legal counsel to the Company or the Company's representatives or
      advisers, and has taken its own independent advice to the extent it has
      considered necessary and appropriate; and

11 

			6.1.8 	
      the Subscriber Subsidiary is, and will during the term of
      this Agreement remain as, a wholly owned subsidiary of the
    Subscriber.

	7. 	
      FURTHER ASSURANCES.

	 	 	 	 
		7.1 	
      The Company agrees to perform (or procure the performance
      of) all further acts and things, and execute and deliver (or procure the
      execution and delivery of) such further documents, as may be required by
      law or as the Subscriber or the Subscriber Subsidiary may reasonably
      require, whether on or after Completion, to implement and/or give effect
      to this Agreement and the transactions contemplated by it and for the
      purpose of vesting in the Subscriber and the Subscriber Subsidiary the
      full benefit of the assets, rights and benefits to be conferred on the
      Subscriber and the Subscriber Subsidiary under this Agreement in
      accordance with the terms herein.

	 	 	 	 
	8. 	
      VARIATION.

	 	 	 	 
		8.1 	
      No variation of this Agreement shall be valid unless it
      is in writing and signed by or on behalf of each of the parties to it. The
      expression "variation" shall include any variation, supplement, deletion
      or replacement however effected.

	 	 	 	 
		8.2 	
      Unless expressly agreed, no variation shall constitute a
      general waiver of any provisions of this Agreement, nor shall it affect
      any rights, obligations or liabilities under or pursuant to this Agreement
      which have already accrued up to the date of variation, and the rights and
      obligations of the parties under or pursuant to this Agreement shall
      remain in full force and effect, except and only to the extent that they
      are so varied.

	 	 	 	 
	9. 	
      ASSIGNMENT.

	 	 	 	 
		9.1 	
      No party to this Agreement shall, nor shall it purport to
      assign, transfer, charge or otherwise deal with all or any of its rights
      under this Agreement nor grant, declare, create or dispose of any right or
      interest in it without the prior written consent of the other parties to
      the Agreement.

	 	 	 	 
		9.2 	
      Any purported assignment in contravention of this clause
      9 shall be void.

	 	 	 	 
		9.3 	
      For the avoidance of doubt, this clause 9 shall not apply
      to:

	 	 	 	 
			9.3.1 	
      the election by the Subscriber for the LK “B” Shares to
      be subscribed by the Subscriber Subsidiary and the allotment and issue of
      the LK “B” Shares to the Subscriber Subsidiary; and

	 	 	 	 
			9.3.2 	
      any transfer of the LK “B” Shares by the Subscriber or
      the Subscriber Subsidiary, as the case may be, to any direct or indirect
      wholly owned subsidiary of the Subscriber.

	 	 	 	 
	10. 	
      SEVERABILITY.

If any provision of this Agreement is held to be invalid or
unenforceable, then such provision shall (so far as it is invalid or
unenforceable) be given no effect and shall be deemed not to be included in this
Agreement but without invalidating any of the remaining provisions of this
Agreement. 

12 

	11. 	
      ANNOUNCEMENTS.

Except for any Company Announcement required by law or by any
applicable regulatory authority or stock exchange which has jurisdiction over
any of the parties to this Agreement, no announcement relating to this Agreement
and the transactions contemplated herein shall be made by or on behalf of any
party to this Agreement without the prior approval in writing of the other
parties, provided, however, that the relevant parts of the Subscriber
Announcement relating to this Agreement and the transactions contemplated herein
shall be provided to the Company for its approval in advance prior to the
release of the Subscriber Announcement. 

	12. 	
      TIME OF THE ESSENCE.

Any time, date or period mentioned in this Agreement may be
extended by mutual written agreement among the parties but, as regards any time,
date or period originally fixed or any date or period so extended as aforesaid,
time shall be of the essence. 

	13. 	
      COSTS AND EXPENSES.

Each party to this Agreement shall bear its own costs and
expenses incurred in relation to the negotiation, preparation and implementation
of this Agreement. 

	14. 	
      NOTICES.

	 	 	 
		14.1 	
      All notices delivered hereunder shall be in writing and
      in the English language and shall be communicated to the following
      addresses:

If to the Company, to: 

	To: 	Language Key Asia Ltd. 	Copy to: 	Ribeiro Hui 
	  	10/F, China Merchants Comm. Bldg. 	  	13/F Wilson House 
	  	15-16 Connaught Road West 	  	19-27 Wyndham Street 
	  	Sheung Wan, Hong Kong 	  	Central, Hong Kong 
	  	  	  	  
	  	  	  	  
	  	Facsimile: (85) 225173534 	  	Facsimile: (852) 2537 7636 
	  	Attention: Dirk Haddow 	  	Attention: Ada Lee 
	  	President and CEO 	  	Corporate Counsel 

If to the Subscriber: 

	To: 	Mount Knowledge Holdings, Inc. 	Copy to: 	Anslow & Jaclin, LLP 
	  	39555 Orchard Hill Place 	  	195 Route 9 South 
	  	Suite 600 PMB 6096 	  	Manalapan, New Jersey 07726 
	  	Novi, Michigan 48375 	  	USA 
	  	USA 	  	  
	  	  	  	  
	  	Facsimile: 011 (248) 671-5080 	  	Facsimile: 011 (732) 577-1188 
	  	Attention: Daniel A. Carr 	  	Attention: Gregg E. Jaclin 
	  	President and CEO 	  	Corporate Counsel 

13 

If to the Subscriber Subsidiary: 

	To: 	Mount Knowledge Asia Ltd. 	Copy to: 	Anslow and Jaclin, LLP 
	  	10/F, China Merchants 	  	195 Route 9 South 
	  	Commercial Building 	  	Manalapan, New Jersey 07726 
	  	15-16 Connaught Road West 	  	USA 
	  	Sheung Wan, Hong Kong 	  	  
	  	  	  	  
	  	Facsimile: (85) 225173534 	  	Facsimile: 011 (732) 577-1188 
	  	Attention: Dirk Haddow 	  	Attention: Gregg E. Jaclin 
	  	President and CEO 	  	Corporate Counsel 

	 	14.2 	
      Any such notice shall be served either by hand or by
      sending it by courier or by facsimile. Any notice shall be deemed to have
      been served, if served by hand or by courier, when delivered, and if sent
      by facsimile, at the time of transmission. Any notice received on a Sunday
      or public holiday shall be deemed to be received on the next Business
      Day.

	15. 	
      COUNTERPARTS.

This Agreement may be executed in any number of counterparts
and by the parties to it on separate counterparts, each of which is an
original but all of which together constitute one and the same instrument. 

	16. 	
      GOVERNING LAW.

This Agreement shall be governed by and construed in accordance
with the laws of Hong Kong for the time being in force. 

	17. 	
      JURISDICTION.

	 	 	 
		17.1 	
      Each of the Company, the Subscriber and the Subscriber
      Subsidiary irrevocably agrees that the courts of United States of America
      and the courts of Hong Kong (together, the “AGREED COURTS”) are each to
      have jurisdiction to settle any dispute (including claims for set-off and
      counterclaims and all applications for preliminary or interim relief,
      orders or equitable remedies) which may arise out of or in connection with
      this Agreement including any dispute as to its validity, effect,
      interpretation, termination or performance (a “DISPUTE”) and for such
      purposes irrevocably submits to the jurisdiction of such courts.

	 	 	 
		17.2 	
      Each of the parties to this Agreement irrevocably waives
      any objections to the jurisdiction of the Agreed Courts.

	 	 	 
		17.3 	
      Each of the parties to this Agreement agrees that a
      judgment or order of any Agreed Court in connection with a Dispute is
      conclusive and binding on it and may be entered or enforced against it or
      registered in the courts of any other jurisdiction.

	 	 	 
		17.4 	
      Each of the parties to this Agreement agrees that it will
      not commence proceedings to resolve any Dispute in any court other than an
      Agreed Court (save, for the avoidance of doubt, any proceedings to enter,
      enforce or register a judgment or order of an Agreed Court). For the
      avoidance of doubt, no proceedings involving and/or relating to the
      same Dispute may be brought before both Agreed Courts. 

14 

IN WITNESS WHEREOF this Agreement has been entered into the day
and year first before written. 

	WITNESSES: 	 	COMPANY 
	  	 	  
	 	 	 
	  	 	LANGUAGE KEY ASIA LTD., 
	  	 	A Hong Kong Corporation 
	Print Name:	 	  
		 	  
	  	 	/s/
      Dirk Haddow 
	  	 	BY: Dirk Haddow 
	Print Name: 	 	ITS: President and CEO 

	 	 	 
	WITNESSES: 	 	SUBSCRIBER 
	  	 	  
	 	 	 
	  	 	MOUNT KNOWLEDGE HOLDING, INC., 
	  	 	A Nevada Corporation 
	Print Name: 	 	  
	  	 	  
	  	 	/s/
      Daniel A. Carr 
	  	 	BY: Daniel A. Carr 
	Print Name: 	 	ITS: President and CEO 

	 	 	 
	WITNESSES: 	 	SUBSCRIBER SUBSIDIARY 
	 	 	 
	  	 	  
	  	 	MOUNT KNOWLEDGE ASIA LTD., 
	  	 	A Hong Kong Corporation 
	Print Name: 	 	  
	  	 	  
	  	 	/s/
      Dirk Haddow 
	  	 	BY: Dirk Haddow 
	Print Name: 	 	ITS: Director 

No. of Shares of Ordinary B Shares that Subscriber and/or
Subscribers Subsidiary shall subscribe to as set forth this Agreement:
10,000,000 x $ 0.10 = $ 1,000,000 

15

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