Every indexed document

the Agreement Among Members of KUE Management

are outlined below. The terms summarized herein are set forth in detail

the organizational documents of the General Partner and

which are subject to and qualified in their entirety by reference to

as k12 further penetrates its existing markets through commercial and

educational materials and financial services (life insurance

000 children KLC OpCo interacts with each year

using KLC's expertise to establish similar operations across geographies and across

served as CFO of Headstrong for five years before joining k12.

Founder and acting CEO Ron Packard has extensive experience in the K-12 education

extension of the offering into new states and schools is expected to be achieved at relatively low costs. — k12 benefits from stable demand for its curriculum and services which is reflected by current reenrollment rates of 65% to 70%. — Ma...

writing and math skills. The passing of legislation such as the ""No Child Left Behind Act of 2001"" which

over four times the industry average of 10%

rolled out and refined over many years and provides a significant competitive advantage in an industry where small independent players do not have the resources to develop comparable programs. — Operational leverage allows for enhanced mark...

with annual enrollment growth proiected in excess of 25%

approximately 60% of mothers with children under the age of six are employed.

KUE's development will be executed through cooperation with

which continues to deliver top line growth in excess of 25% and has seen its

is projected to grow organically to $2.3 billion and $320 million by 2011

which generated $1.48 billion in pro forma revenue and $150 million in pro forma Adjusted