NEW HORIZONS WORLDWIDE INC
EX-10.10
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<TYPE>EX-10.10
<SEQUENCE>13
<FILENAME>l26911aexv10w10.htm
<DESCRIPTION>EX-10.10
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.10
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Voting Agreement and Irrevocable Limited Proxy</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Voting Agreement and Irrevocable Limited Proxy
(&#147;Agreement&#148;), dated July 3, 2007, is
made among New Horizons Worldwide, Inc., a Delaware corporation (the &#147;Company&#148;), the persons listed
on the signature pages hereof as the &#147;Investors&#148; and each of the other undersigned holders of
shares of capital stock of the Company listed on the signature pages hereof as the &#147;Stockholders.&#148;
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Recitals</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;Each of the Investors and Stockholders is the record or beneficial owner of the number of
Voting Shares set forth in <U>Schedule&nbsp;A</U> to this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;The Investors have negotiated with the Company the Purchase Agreement and related
agreements pursuant to which, subject to the terms and conditions thereof, the Company has agreed
to sell and the Investors have agreed to purchase the Series&nbsp;C Shares. The Company will create the
Series&nbsp;C Shares from its authorized shares of preferred stock by adopting and filing a Certificate
of Designations describing the rights and preferences of the Series&nbsp;C Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;The Company presently has an insufficient number of authorized shares of its common stock
to accommodate the conversion rights contemplated for the Series&nbsp;C Shares under the Purchase
Agreement. Pursuant to the Agreement, the Company has agreed to submit to its stockholders the
Amendment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;To induce the Investors to consummate the transactions contemplated by the Purchase
Agreement, the Investors and Stockholders are prepared to enter into a voting agreement and to
grant the limited proxies herein provided, for the purpose of voting in favor of the Amendment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THEREFORE, in consideration of the foregoing, the parties agree as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.&nbsp;Definitions. </B>Capitalized terms used in this Agreement shall have the following meanings:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &#147;Agreement&#148; means this Voting Agreement and Irrevocable Limited Proxy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &#147;Amendment&#148; means the proposed amendment of the Company&#146;s Certificate of Incorporation
to increase the number of authorized shares of the Company&#146;s common stock to 30,000,000.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &#147;Beneficial Owner&#148; or any reference to securities beneficially owned means beneficial
ownership as defined in Rule&nbsp;13d-3 promulgated under the Securities Exchange Act of 1934, as
amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &#147;Company&#148; has the meaning set forth in the first paragraph of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &#147;Investors&#148; means the persons executing this Agreement as Investors, as indicated on
the signature page hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) &#147;Meeting&#148; is defined in Section&nbsp;2.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) &#147;Proxy&#148; has the meaning set forth in Section&nbsp;4.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) &#147;Purchase Agreement&#148; means the Series&nbsp;C Stock and Warrant Purchase Agreement among the
Investors and the Company pursuant to which, subject to the terms and
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">conditions thereof, the Company has agreed to sell and the Investors have agreed to purchase the Series&nbsp;C Shares.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &#147;Series&nbsp;C Shares&#148; means the shares of Series&nbsp;C Convertible Preferred Stock of the
Company that the Investors have agreed to purchase under the Purchase Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) &#147;Stockholders&#148; means the persons executing this Agreement as Stockholders, as indicated
on the signature page hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) &#147;Voting Shares&#148; means the number of shares of the voting common stock owned of record
or beneficially by the Investors and the Stockholders, and includes, without limitation, all shares of the Corporation&#146;s common stock which an Investor or a Stockholder is entitled to vote,
all shares of the Corporation&#146;s Series&nbsp;B Convertible Preferred Stock which a Stockholder is
entitled to vote on an as-converted basis, and all of the Series&nbsp;C Shares which an Investor is
entitled to vote on an as-converted basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.&nbsp;Purchase Agreement. </B>Simultaneously with executing this Agreement, the Company and the
Investors have executed the Purchase Agreement. Pursuant to the Purchase Agreement, the Company
has undertaken, subject to the conditions set forth therein, to submit the Amendment for approval
by its stockholders at a special meeting to be convened as described in the Purchase Agreement (the
&#147;Meeting&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.&nbsp;Voting Agreement. </B>Pursuant to Section&nbsp;218 of the Delaware General Corporation Law, each
Investor and each Stockholder severally agrees to vote or direct to be voted all Voting Shares
which the Investor or Stockholder is entitled to vote or direct to be voted at any meeting of the
Company&#146;s stockholders held before the Purchase Agreement is terminated, and at any adjournment
thereof, for the specific and only purpose of voting in favor of approving the Amendment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.&nbsp;Limited Irrevocable Proxy. </B>Each Investor and each Stockholder appoints Arnold M. Jacob and
Robert H. Orley, and each of them (collectively, the &#147;Proxy&#148;), as the Investor&#146;s or Stockholder&#146;s
lawful proxy and attorney-in-fact, with full power of substitution, to represent and vote the
Voting Shares which the Investor or Stockholder is entitled to vote, and the Proxy agrees to vote
such Voting Shares, for and in the name, place, and stead of the Investor or Stockholder, at any
meeting of the stockholders of the Company described in Section&nbsp;3, at any adjournment thereof, for
the specific and only purpose of voting in favor of the approval of the Amendment. The foregoing
limited proxy is coupled with an interest and is irrevocable unless the consent of all the
Investors is first obtained, and will remain in effect during the term of this Agreement. If an
Investor or Stockholder transfers any of its Voting Shares, whether voluntarily or involuntarily,
this proxy will continue to apply to those Voting Shares after the transfer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.&nbsp;Representations of the Stockholders. </B>Each of the Stockholders severally represents and
warrants to each of the Investors and the other Stockholders as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the date of this Agreement, the Voting Shares listed on <U>Schedule&nbsp;A</U> represent
all of the Voting Shares currently owned of record or beneficially by the Stockholder, directly
or indirectly. The Stockholder currently has, and at the time of the Meeting will have record
or beneficial ownership of such Voting Shares, free and clear of claims, liens, charges,
encumbrances, and security interests (other than the encumbrances created by this Agreement and
other than restrictions on transfer imposed by the Securities Act of 1933, as
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">amended, and applicable state securities laws) and free of other restrictions, options, rights to purchase or
other claims that would adversely affect the ability of the Stockholder to perform the
Stockholder&#146;s obligations under this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Stockholder has the full legal power and authority or capacity to execute and
deliver this Agreement and to perform its obligations hereunder
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The execution and delivery by the Stockholder and the performance of its obligations
hereunder are not in violation of any other agreement to which the Stockholder is a party,
including without limitation any voting agreement, stockholders&#146; agreement, or voting trust, nor
is the same in conflict with or rendered ineffective by any previously outstanding proxy which
the Stockholder may have granted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Agreement constitutes the legal, valid, and binding agreement of the Stockholder,
enforceable against it in accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.&nbsp;Representations of the Investors. </B>Each of the Investors severally represents and warrants
to each of the Stockholders and the other Investors as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the date of this Agreement, the Voting Shares listed on <U>Schedule&nbsp;A</U> represent
all of the Voting Shares currently beneficially owned or controlled by the Investor, directly or
indirectly, alone or together with any other person. The Investor currently has, and (subject
to Section&nbsp;7) at the time of the Meeting will have record or beneficial ownership of such Voting
Shares, free and clear of claims, liens, charges, encumbrances, and security interests (other
than the encumbrances created by this Agreement and other than restrictions on transfer imposed
by the Securities Act of 1933, as amended, and applicable state securities laws) and free of
other restrictions, options, rights to purchase or other claims that would adversely affect the
ability of the Investor to perform the Investor&#146;s obligations under this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Investor has full legal power and authority or capacity to execute and deliver this
Agreement and to perform its obligations hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The execution and delivery of this Agreement by the Investor and the performance by it
of its obligations hereunder do not violate the terms of any outstanding agreements to which the
Investor is a party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Agreement constitutes the legal, valid, and binding agreement of the Investor,
enforceable against it in accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.&nbsp;Inconsistent Actions. </B>During the term of this Agreement, no Investor or Stockholder will
take any action in respect of the Voting Shares owned of record or beneficially by the Investor or
Stockholder that is inconsistent with the purpose of this Agreement (subject to
the proviso of the following sentence). Without limiting the generality of the foregoing,
during the term of this Agreement, no Investor or Stockholder shall transfer, by sale, gift, or
otherwise, encumber in any manner, or otherwise dispose of any of the Voting Shares owned of record
or beneficially by such Investor or Stockholder or seek to do any of the same without the
Investors&#146; prior consent, except to a transferee that has agreed in writing to be bound by the
terms of this Agreement to the same extent as the transferor; provided, however, that if, following
the first anniversary of this Agreement, the holders of a majority of the Series&nbsp;C Shares then
outstanding so indicate in writing, no Investor will be bound by the restrictions on transfer or
disposition contained in this sentence. The parties
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">expressly acknowledge that nothing in this Section&nbsp;7 shall be deemed to permit or authorize a transfer of Voting Shares that would violate (a)
applicable law or (b)&nbsp;the terms of any other agreement to which such person may be party or by
which the Voting Shares may be bound.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.&nbsp;Specific Performance. </B>The parties acknowledge and agree that, in any action for the actual
or anticipated breach of this Agreement, the legal remedy for damages will be inadequate and
specific performance, reformation, injunction or other equitable relief will be appropriate and may
be granted (without the posting of any bond) to prevent or remedy any actual or anticipated breach.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.&nbsp;Term. </B>This Agreement shall commence on the date hereof and will terminate on the earlier
of (a)&nbsp;the day following the date on which the Meeting is convened (provided, that if the Meeting
is adjourned this Agreement shall continue until the day following the last date to which the
Meeting is adjourned); (b)&nbsp;the date on which holders of a majority of the Series&nbsp;C Shares issued
under the Purchase Agreement have elected to have their Series&nbsp;C Shares redeemed pursuant to the
provisions of Article&nbsp;10 of the Certificate of Designations describing the rights and preferences
of the Series&nbsp;C Shares; or (c)&nbsp;the second anniversary of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.&nbsp;Action in Stockholder&#146;s Capacity Only. </B>No individual Investor or Stockholder makes any
agreement or understanding in this Agreement in his or her capacity as a director or officer of the
Company. Each Investor or Stockholder is entering into this Agreement solely in his, her or its
capacity as the record holder or beneficial owner of the Voting Shares and nothing in this
Agreement limits or affects any actions taken by an Investor or Stockholder in his or her capacity
as a director or officer of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.&nbsp;Inducement. </B>Each Investor and Stockholder acknowledges that the execution, delivery and
performance by him, her or it of this Agreement is a material inducement to the Investors to enter
into and perform their obligations under the Purchase Agreement, and that the Investors have relied
on the representations, warranties, agreements and covenants of the Investor and Stockholder
hereunder in entering into the Purchase Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.&nbsp;Binding Agreement. </B>All authority herein conferred or agreed to be conferred by each
Investor or Stockholder shall survive the dissolution, death or incapacity of such Investor or
Stockholder. This Agreement shall inure to the benefit of and be binding upon the parties hereto
(severally and not jointly in the case of the Investors and Stockholders) and their respective
heirs, personal representatives, successors, and assigns. Any person executing this Agreement
solely in a fiduciary capacity shall be bound hereby only in such capacity and not individually.
Each Investor may, without the consent of the other Investors or the Stockholders, assign its
rights hereunder to any affiliate, provided that any such assignment shall not affect the Investor&#146;s
obligations hereunder. Each person who executes and delivers this Agreement agrees and
acknowledges that he, she or it will be bound by this Agreement in accordance with its terms
notwithstanding the fact that certain other persons listed on the signature pages hereto may not
have executed this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13.&nbsp;Entire Agreement. </B>This Agreement, together with the Purchase Agreement, contains the
entire understanding of the parties with respect to the transactions contemplated in this Agreement
and supersedes all prior or contemporaneous agreement, understandings or arrangements regarding the
subject matter of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.&nbsp;Notice. </B>All notices, requests, consents, and other communications hereunder shall be in
writing and shall be mailed first class, registered with postage prepaid, if to the Company, to its
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">principal executive offices, and if to an Investor or Stockholder, to the address indicated on
Schedule&nbsp;A.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>15.&nbsp;Governing Law. </B>This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware without giving effect to choice of laws principles that would require
the application of the laws of any other jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.&nbsp;No Third Party Beneficiaries. </B>Nothing contained in this Agreement is intended to confer
upon any person or entity, other than the parties and their respective successors and permitted
assigns, any benefit, right or remedies under or by reason of this Agreement, as third party
beneficiaries or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>17.&nbsp;Counterparts. </B>This Agreement may be executed in counterparts, each of which will be
deemed an original and all of which, taken together, will constitute one instrument. A party&#146;s
facsimile signature on this Agreement will have the same effect as an original signature for all
purposes.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>In Witness Whereof</B></FONT>, the Company, the Investors and the Stockholders have caused this
Voting Agreement and Irrevocable Proxy to be executed as of the day and the year first written
above.
</DIV>

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    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.,</B></FONT><BR>
a Delaware corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;Mark
A. Miller</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Title:&nbsp;</TD>

<TD style="border-bottom: 1px solid #000000" align="left">President
and Chief Executive Officer&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

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<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.</B></FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and Stockholders have caused this Voting Agreement and Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Investor:
</DIV>


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    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">ATMF New Horizons, LLC<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;Arnold M. Jacob</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Arnold M. Jacob, Member&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

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    <TD width="48%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Stockholder:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;Arnold M. Jacob&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Arnold M. Jacob&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.</B></FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" valign="top">Investor:</TD>
    <TD>&nbsp;</TD>
</TR>



<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>






<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" valign="top">NH Investment LLC
</TD>
</TR>



<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>




<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">NH Manager, Inc., Manager
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;/s/ Robert H. Orley
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>



<TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Robert H. Orley, President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Stockholders:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">&nbsp;/s/ Robert H. Orley&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Robert H. Orley&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

<TD colspan="3" style="border-bottom: 1px solid #000000" align="left">&nbsp;/s/
Joseph H. Orley</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Joseph H. Orley&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>

<TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/
Lawrence Lax&nbsp;
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Lawrence Lax&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
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<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.</B></FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Stockholder:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

<TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/
Kenneth Hantman&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Kenneth Hantman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
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<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
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    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.</B></FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and Stockholders have caused this Voting Agreement and Irrevocable
Proxy to be executed as of the day and the year first written above
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>


<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Investor:
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>






<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Alkhaleej Training and Education Corp.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;Awaleed
Aldryaan</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Awaleed
Aldryaan&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
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<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
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    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.</B></FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Stockholder:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

<TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/
Mark A. Miller&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Mark A. Miller&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for New Horizons Worldwide, Inc.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Stockholders:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr>
    <TD align="center">/s/ Curtis Lee Smith&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ William H. Heller&nbsp;</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Curtis Lee Smith, Jr., Trustee
<br> Curtis Lee Smith, Jr. Declaration of Trust dated
<br> September&nbsp;22, 1989, as modified.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">William H. Heller, Trustee
<br> Curtis Lee Smith, Jr. Irrevocable Trust
<br> f/b/o Arthur B. Johnson dated 12/13/91</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD align="center">/s/ William H. Heller&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ William H. Heller&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee
<br> Curtis Lee Smith, Jr. Irrevocable Trust
<br> f/b/o Curtis Lee Smith III dated 12/13/91
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">William H. Heller, Trustee
<br> Curtis Lee Smith, Jr. Irrevocable Trust
<br> f/b/o Gay L. Smith dated 12/13/91</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD align="center">/s/ William H. Heller&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ William H. Heller&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee
<br> Curtis Lee Smith, Jr. Irrevocable Trust
<br> f/b/o Lyman T. Smith dated 12/13/91
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">William H. Heller, Trustee
<br> Curtis Lee Smith, Jr. Irrevocable Trust
<br> f/b/o Matthew S. Smith dated 12/13/91</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD align="center">/s/ Lauren Stringer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Matthew S. Smith</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lauren Stringer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Matthew S. Smith, Trustee
<br> UAW Curtis Lee Smith, Jr.
<br> f/b/o Ruby J. Smith dated 5/11/92</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD align="center">/s/ Matthew S. Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Gay L. Smith</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Matthew S. Smith, Trustee
<br> UAW Curtis Lee Smith, Jr.
<br> f/b/o Cooper L. Smith dated 12/28/95
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Gay L. Smith, Trustee
<br> UAW Curtis Lee Smith, Jr.
<br> f/b/o Lillian T. Asaph dated 6/21/91</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD align="center">/s/ Kaye Denny</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Curtis Lee Smith III</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Kaye Denny
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Curtis Lee Smith III, Trustee
<br> UAW Curtis Lee Smith, Jr.
<br> f/b/o Tucker H. Smith</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD align="center">/s/ Lyman Smith, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Lyman T. Smith</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lyman Smith, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Lyman T. Smith, Trustee
<br> UAW Curtis Lee Smith, Jr.
<br> f/b/o Katherine S. Smith dated 10/17/89</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<tr>
    <TD align="center">/s/ William H. Heller</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and</B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for New Horizons Worldwide, Inc.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Stockholders:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Stuart O. Smith</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Stuart O. Smith</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Trustee, Stuart O. Smith Declaration
<br> of Trust dated November&nbsp;18, 1981, as modified
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Stuart O. Smith, Jr.</TD>
</TR>


<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Eva Julie Smith
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Stuart O. Smith</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Eva Julie Smith
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Stuart O. Smith, Jr. and Eva Julie Smith, JT</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<tr>
    <TD>&nbsp;</TD>
</tr>
<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Stuart O. Smith
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Stuart O. Smith</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Jr. Trustee
<br> Stuart O. Smith Trust
<br> f/b/o Kevin F. Smith dated 10/17/89
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Stuart O. Smith, Jr. Trustee
<br> Stuart O. Smith Trust
<br> f/b/o Michael N. Smith dated 12/13/91</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Julie Smith Bonebrake
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Geoffrey D. Bonebrake</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Geoffrey D. Bonebrake</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Julie Smith Bonebrake
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Julie Smith Bonebrake</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake, Trustee
<br> Stuart O. Smith Trust
<br> f/b/o Geoffrey D. Bonebrake, Jr. dated 4/24/92
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Julie Smith Bonebrake, Trustee
<br> Stuart O. Smith Trust
<br> f/b/o Anna C. Bonebrake dated 11/16/95</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Julie Smith Bonebrake
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Stuart O. Smith / Julie Smith Bonebrake</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake, Trustee
<br> Stuart O. Smith Trust
<br> f/b/o Curtis S. Bonebrake dated 7/28/98
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Stuart O. Smith, Jr. and Julie Smith Bonebrake,
Co-Trustees
<br> Stuart O. Smith Grandchildren&#146;s Trust</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement
and<BR>Irrevocable Proxy for New Horizons Worldwide, Inc.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Stockholders:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
David A. Goldfinger
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ David A Goldfinger</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">David A. Goldfinger Trustee
<br> David A. Goldfinger Trust dated May&nbsp;6, 1981, as modified
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">David A Goldfinger</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">
    <TD align="center" valign="top">/s/ Ruth G. Marks
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Ruth Marks</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Ruth G. Marks
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Ruth Marks, Trustee, U/A dated July&nbsp;2, 1998
<br> David A. Goldfinger Trust
<br> f/b/o Elizabeth Grace Marks</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Ruth Marks
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Ruth Marks</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ruth Marks, Trustee, U/A dated October&nbsp;8, 1992
<br> David A. Goldfinger Trust
<br> f/b/o Matthew Aaron Marks
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Ruth Marks, Trustee, U/A dated March&nbsp;15, 1995
<br> David A. Goldfinger Trust
<br> f/b/o Joseph Daniel Marks</TD>
</TR>


<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Ronald E. Goldfinger
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Ronald E. Goldfinger</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Ronald E. Goldfinger
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Ronald E. Goldfinger, Trustee
<br> U/A dated December&nbsp;24, 1991
<br> by David A. Goldfinger
<br> f/b/o Jacob S. Goldfinger</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>

<TR valign="bottom">

<TD align="center" valign="top">/s/Ronald E Goldfinger
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Karen G Baker</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ronald E Goldfinger, Trustee
<br> U/A dated May&nbsp;30, 1996
<br> by David A. Goldfinger
<br> f/b/o Rachel Elise Goldfinger
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Karen G Baker</TD>
</TR>


<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<tr>
    <TD>&nbsp;</TD>
</tr>


<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Karen G. Baker
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Karen G Baker</TD>
</TR>


<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Karen G. Baker, Trustee
<br> U/A dated April&nbsp;28, 1993
<br> by David A. Goldfinger
<br> f/b/o Samuel Ezra Baker
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Karen G Baker, Trustee
<br> U/A dated November&nbsp;8, 1995
<br> by David A. Goldfinger
<br> f/b/o Gabriel Morris Baker</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Irrevocable Proxy for New Horizons Worldwide, Inc.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and/or Stockholders have caused this Voting Agreement and
Irrevocable Proxy to be executed as of the day and the year first written above
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Stockholders:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" colspan="3" valign="top">/s/ James G. Kennedy</TD>
</TR>

<TR>
    <TD align="center" valign="top"></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
James G. Kennedy for
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">James G. Kennedy Contributory IRA</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" colspan="3" valign="top">/s/ Nancy H. Kennedy</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Nancy H. Kennedy for</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Nancy H. Kennedy Contributory IRA</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investor and Stockholder Signature Page to Voting Agreement and </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"> <B>Irrevocable Proxy for New Horizons Worldwide, Inc.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Investors and Stockholders have caused this Voting Agreement and Irrevocable
Proxy to be executed as of the day and the year first written above
</DIV>



<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Stockholders:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Camden Partners Strategic Fund III, L.P.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
David L. Warnock</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">David L. Warnock</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Managing Member</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Camden Partners Strategic Fund III-A, L.P.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
David L. Warnock</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">David L. Warnock</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Managing Member</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Schedule&nbsp;A to Voting Agreement and Irrevocable Proxy </B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>for</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>New Horizons Worldwide, Inc.</B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>List of Investors and Stockholders and Voting Shares</B></FONT>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Investors</B></FONT>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Investor</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">ATMF New Horizons, LLC<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,999,996</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">6735 Telegraph Road, Suite&nbsp;110<br>
Bloomfield Hills, MI 48301<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:0px; text-indent:-0px">NH Investment LLC<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,999,996</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:0px; text-indent:-0px">40900 Woodward Ave., Suite&nbsp;130,<br>
Bloomfield Hills, MI 48304<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">Alkhaleej Training and Education Corp.<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">444,447</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">P. O. Box 295300, Riyadh 11351<br>
Kingdom of Saudi Arabia<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Stockholders</B></FONT>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Stockholder </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Arnold M. Jacob<br>
6735 Telegraph Road, Suite&nbsp;110<br>
Bloomfield Hills, MI 48301
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">690,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert H. Orley<br>
40900 Woodward Ave., Suite&nbsp;130,<br>
Bloomfield Hills, MI 48304
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joseph H. Orley<br>
201 W Big Beaver Suite&nbsp;720<br>
Troy, MI 48084
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">45,500</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lawrence Lax<br>
40900 Woodward Ave., Suite&nbsp;130,<br>
Bloomfield Hills, MI 48304
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Kenneth Hantman<br>
Renaissance Corporate Park<br>
3604 Horizon Drive<br>
King of Prussia 19406
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,400</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mark A. Miller<br>
1900 S. State College Blvd., Suite&nbsp;650<br>
Anaheim, California 92806-6135
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">468,695</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Stockholder </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Curtis Lee Smith, Jr., Trustee<br>
Curtis Lee Smith, Jr. Declaration of Trust dated<BR>
September&nbsp;22, 1989, as modified<br>
7429 Sanderling Road<br>
Sarasota, FL 34242
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">922,797</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee<br>
Curtis Lee Smith, Jr. Irrevocable Trust f/b/o<BR>
Arthur B. Johnson dated 12/13/91<br>
23611 Chagrin Blvd., Suite&nbsp;200<br>
Beachwood, OH 44122
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">63,158</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee<br>
Curtis Lee Smith, Jr. Irrevocable Trust f/b/o<br>
Curtis Lee Smith III dated 12/13/91<br>
23611 Chagrin Blvd., Suite&nbsp;200<br>
Beachwood, OH 44122
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">68,083</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee<br>
Curtis Lee Smith, Jr. Irrevocable Trust f/b/o<BR>
Gay L. Smith dated 12/13/91<br>
23611 Chagrin Blvd., Suite&nbsp;200<br>
Beachwood, OH 44122
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">46,821</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee<br>
Curtis Lee Smith, Jr. Irrevocable Trust f/b/o<BR>
Lyman T. Smith dated 12/13/91<br>
23611 Chagrin Blvd., Suite&nbsp;200<br>
Beachwood, OH 44122
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">68,083</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller, Trustee<br>
Curtis Lee Smith, Jr. Irrevocable Trust f/b/o<BR>
Matthew S. Smith dated 12/13/91<br>
23611 Chagrin Blvd., Suite&nbsp;200<br>
Beachwood, OH 44122
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">68,083</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lauren Stringer<br>
432 Newton Avenue South<br>
Minneapolis, MN 55405
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,325</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Matthew S. Smith, Trustee<br>
UAW Curtis Lee Smith, Jr.<br>
f/b/o Ruby J. Smith dated 5/11/92<br>
432 Newton Avenue South<br>
Minneapolis, MN 55405
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">28,625</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Matthew S. Smith, Trustee<br>
UAW Curtis Lee Smith, Jr.<br>
f/b/o Cooper L. Smith dated 12/28/95<br>
432 Newton Avenue South<br>
Minneapolis, MN 55405
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">27,075</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Stockholder </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gay L. Smith, Trustee<br>
UAW Curtis Lee Smith, Jr.<br>
f/b/o Lillian T. Asaph dated 6/21/91<br>
49 Summit Street<br>
Newton, MA 02458
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">36,619</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Kaye Denny<br>
19 West Street<br>
Belmont, MA 02478
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,800</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Curtis Lee Smith III, Trustee<br>
UAW Curtis Lee Smith, Jr.<br>
f/b/o Tucker H. Smith<br>
19 West Street<br>
Belmont, MA 02478
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">30,825</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lyman Smith, Jr.<br>
3050 Umatilla Street<br>
Denver, CO 80211
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">63,880</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lyman T. Smith, Trustee<br>
UAW Curtis Lee Smith, Jr.<br>
f/b/o Katherine S. Smith dated 10/17/89<br>
805 Park Avenue<br>
Mahtomidi, MN 55115
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">58,580</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Heller<br>
23611 Chagrin Blvd., Suite&nbsp;200<br>
Beachwood, OH 44122
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,500</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Trustee, Stuart O. Smith<br>
Declaration of Trust dated November&nbsp;18, 1981,
as modified<br>
68 Long Point Drive<br>
Amelia Island, FL 32034
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,102,438</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Jr.<br>
3802 Merrymound Road<br>
Cleveland, OH 44121
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">25,225</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Eva Julie Smith<br>
3802 Merrymound Road<br>
Cleveland, OH 44121
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">25,225</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Jr. and Eva Julie Smith, JT<br>
3802 Merrymound Road<br>
Cleveland, OH 44121
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">169,391</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Jr. Trustee<br>
Stuart O. Smith Trust<br>
f/b/o Kevin F. Smith dated 10/17/89<br>
3802 Merrymound Road<br>
Cleveland, OH 44121
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,152</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Stockholder </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Jr. Trustee<br>
Stuart O. Smith Trust<br>
f/b/o Michael N. Smith dated 12/13/91<br>
3802 Merrymound Road<br>
Cleveland, OH 44121
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,512</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake<br>
2872 Chatham Road<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">61,079</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Geoffrey D. Bonebrake<br>
2872 Chatham Road<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">105,825</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake, Trustee<br>
Stuart O. Smith Trust<br>
f/b/o Geoffrey D. Bonebrake, Jr. dated 4/24/92<br>
2872 Chatham Road<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">75,366</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake, Trustee<br>
Stuart O. Smith Trust<br>
f/b/o Anna C. Bonebrake dated 11/16/95<br>
2872 Chatham Road<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">72,421</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie Smith Bonebrake, Trustee<br>
Stuart O. Smith Trust<br>
f/b/o Curtis S. Bonebrake dated 7/28/98<br>
2872 Chatham Road<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">71,118</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart O. Smith, Jr. and Julie Smith Bonebrake,
Co-Trustees<br>
Stuart O. Smith Grandchildren&#146;s Trust
dated 1/30/01<br>
3802 Merrymound Road<br>
Cleveland OH 44121 and<br>
2872 Chatham Road<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">292,583</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David A. Goldfinger Trustee<br>
David A. Goldfinger Trust dated May&nbsp;6, 1981, as
modified<br>
156 Key Heights Drive<br>
Tavernier, FL 33070
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David A Goldfinger<br>
156 Key Heights Drive<br>
Tavernier, FL 33070
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">22,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Stockholder </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ruth G. Marks<br>
450 Shannon Road<br>
Deerfield, IL 60015
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,800</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ruth Marks, Trustee<br>
U/A dated July&nbsp;2, 1998<br>
David A. Goldfinger Trust<br>
f/b/o Elizabeth Grace Marks<br>
450 Shannon Road<br>
Deerfield, IL 60015
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,681</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ruth Marks, Trustee<br>
U/A dated October&nbsp;8, 1992<br>
David A. Goldfinger Trust<br>
f/b/o Matthew Aaron Marks<br>
450 Shannon Road<br>
Deerfield, IL 60015
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,125</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ruth Marks, Trustee<br>
U/A dated March&nbsp;15, 1995<br>
David A. Goldfinger Trust<br>
f/b/o Joseph Daniel Marks<br>
450 Shannon Road<br>
Deerfield, IL 60015
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,750</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ronald E. Goldfinger<br>
999 Bluff Road<br>
Glencoe, IL 60022-1140
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,225</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ronald E. Goldfinger, Trustee<br>
U/A dated December&nbsp;24, 1991<br>
by David A. Goldfinger<br>
f/b/o Jacob S. Goldfinger<br>
999 Bluff Road<br>
Glencoe, IL 60022-1140
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,100</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ronald E Goldfinger, Trustee<br>
U/A dated May&nbsp;30, 1996<br>
by David A. Goldfinger<br>
f/b/o Rachel Elise Goldfinger<br>
999 Bluff Road<br>
Glencoe, IL 60022-1140
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,090</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Karen G Baker<br>
30961 Fox Hollow Drive<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,100</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Name And Address of Stockholder </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><FONT style="font-variant: SMALL-CAPS"><B>Number of Shares</B></FONT></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Karen G. Baker, Trustee<br>
U/A dated April&nbsp;28, 1993<br>
by David A. Goldfinger<br>
f/b/o Samuel Ezra Baker<br>
30961 Fox Hollow Drive<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,125</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Karen G Baker, Trustee<br>
U/A dated November&nbsp;8, 1995<br>
by David A. Goldfinger<br>
f/b/o Gabriel Morris Baker<br>
30961 Fox Hollow Drive<br>
Pepper Pike, OH 44124
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,375</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James G. Kennedy Contributory IRA<br>
c/o 11 Sparks Farm Road<br>
Sparks, Maryland 21152
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">150,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nancy H. Kennedy Contributory IRA<br>
c/o 11 Sparks Farm Road<br>
Sparks, Maryland 21152
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Camden Partners Strategic Fund III, L.P.<br>
500 East Pratt Street, Suite&nbsp;1200<br>
Baltimore, MD 21202
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,084,155</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Camden Partners Strategic Fund III-A, L.P.<br>
500 East Pratt Street, Suite&nbsp;1200<br>
Baltimore, MD 21202
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">169,724</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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