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<TITLE>CLICK2LEARN, INC. Form S-8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2"><B>As filed with the Securities and Exchange Commission on August 9, 2002</B></FONT>

<P align="right"><FONT size="2"><B>Registration No.&nbsp;333-_____</B></FONT>

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<P align="center"><FONT size="3"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
______________________</B></FONT>

<P align="center"><FONT size="2"><B>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
______________________</B></FONT>

<P align="center"><FONT size="3"><B>CLICK2LEARN, INC.</B></FONT>

<DIV align="center"><FONT size="2">(Exact name of registrant as specified in its charter)</FONT></DIV>

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        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>Delaware</B><BR>
(State or other jurisdiction of incorporation or organization)</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
<B>91-1276003</B><BR>
(I.R.S. Employer Identification No.)</FONT></DIV></TD>
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<P align="center"><FONT size="2"><B>110-110th Avenue NE<BR>
Bellevue, Washington 98004</B><BR>
(Address of principal executive offices, including area code)</FONT>

<P align="center"><FONT size="2"><B>CLICK2LEARN, INC. 1999 EMPLOYEE STOCK PURCHASE PLAN</B><BR>
(Full title of the plan)</FONT>

<P align="center"><FONT size="2"><B>John D. Atherly<BR>
Chief Financial Officer and Vice President, Finance and Administration<BR>
Click2learn, Inc.<BR>
110-110th Avenue NE<BR>
Bellevue, Washington 98004<BR>
(425)&nbsp;462-0501</B></FONT>

<P align="center"><FONT size="2">(Name, address and telephone number, including area code, of agent for service)<BR>
<B>______________________</B></FONT>

<P align="center"><FONT size="2"><B>Copy to:<BR>
Scott L. Gelband<BR>
Perkins Coie LLP<BR>
505 Fifth Avenue South, Suite&nbsp;620<BR>
Seattle, Washington 98101-3846<BR>
(206)&nbsp;287-3505<BR>
______________________</B></FONT>

<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>


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        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
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        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>Title of Securities to be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered (1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price (2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>(2)</B></FONT></TD>
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        <TD nowrap align="center"  colspan="17"><HR size="1" noshade></TD>
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        <TD><FONT size="2">Common Stock, $0.01 par value per
share, under the 1999 Employee
Stock Purchase Plan</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">900,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">.535</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">481,500</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">44.30</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Together with an indeterminate number of additional shares which may be
necessary to adjust the number of shares reserved for issuance pursuant to
such employee benefit plan as the result of any future stock split, stock
dividend or similar adjustment of the Registrant&#146;s outstanding common
stock.</FONT></TD>
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<TR><TD><TR><TD><TR><TD><TR><TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee
pursuant to Rule&nbsp;457(c) under the Securities Act of 1933, as amended. The
calculation of the registration fee is based upon a per share price of
$.535 which was the average of the high
($.610) and low ($.460) sales
prices of Click2learn, Inc.&#146;s common stock on August 7, 2002, as reported
for such date by the Nasdaq National Market.</FONT></TD>
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</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. DESCRIPTION OF SECURITIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. EXHIBITS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="v83524exv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v83524exv23w1.txt">EXHIBIT 23.1</A></TD></TR>
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<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN REGISTRATION STATEMENT</B></FONT>

<!-- link2 "Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Securities and Exchange Commission
(the &#147;Commission&#148;) by the registrant, Click2learn, Inc., a Delaware corporation
(the &#147;Registrant&#148;), are hereby incorporated by reference in this Registration
Statement:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; the Registrant&#146;s Annual Report on Form&nbsp;10-K for the year ended
December&nbsp;31, 2001, filed on April&nbsp;1, 2002, which contains audited financial
statements for the most recent fiscal year for which such statements have been
filed;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the fiscal quarter
ended March&nbsp;31, 2002, filed on May&nbsp;15, 2002;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; the description of the Registrant&#146;s common stock contained in the
Registrant&#146;s registration statement on Form&nbsp;8-A filed on May&nbsp;19, 1998, under
Section&nbsp;12(g) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;), including any amendments or reports filed for the purpose of updating
such description; and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp; the Registrant&#146;s Current Reports on Form&nbsp;8-K filed on April&nbsp;8, 2002,
July&nbsp;22, 2002 and August&nbsp;8, 2002.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Exchange Act after the date hereof, and prior to the filing
of a post-effective amendment which indicates that the securities offered
hereby have been sold or which deregisters the securities covered hereby then
remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the
respective date of filing of such documents.
</FONT>
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<DIV align="left"><A NAME="002"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. DESCRIPTION OF SECURITIES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<DIV align="left"><A NAME="003"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The opinion of counsel as to the legality of the securities that may be
issued under the Click2learn, Inc. 1999 Employee Stock Purchase Plan is given
by Steven Esau, Senior Vice President, General Counsel and Secretary for the
Registrant. Mr.&nbsp;Esau owns 672 shares of the common stock of the Registrant and
holds options to purchase an additional 178,908 shares, of which 119,844 are
currently exercisable.
</FONT>
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<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by the Delaware General Corporation Law, Article&nbsp;VIII of the
Registrant&#146;s Amended and Restated Certificate of Incorporation includes a
provision that eliminates the personal liability of its directors for monetary
damages for breach of fiduciary duty as a director, except for liability (a)
for any breach of the director&#146;s duty of loyalty to the Registrant or its
stockholders, (b)&nbsp;for acts or omissions not in good faith or that involve
intentional misconduct or a knowing violation of law, (c)&nbsp;under Section&nbsp;174 of
the Delaware General Corporation Law (regarding unlawful dividends and stock
purchases) or (d)&nbsp;for any transaction from which the director derived an
improper personal benefit.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by the Delaware General Corporation Law, Article&nbsp;VI of the
Registrant&#146;s Bylaws provides that (a)&nbsp;the Registrant is required to indemnify
its directors and officers to the fullest extent permitted by the Delaware
<P align="center"><FONT size="2">&nbsp;
</FONT>

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</FONT>
<P><FONT size="2">General Corporation Law, subject to certain very limited exceptions, (b)
the Registrant may indemnify its other employees and agents to the extent that
it indemnifies its officers and directors, unless otherwise required by law,
its Amended and Restated Certificate of Incorporation, its Bylaws or
agreements, (c)&nbsp;the Registrant is required to advance expenses, as incurred, to
its directors and executive officers in connection with a legal proceeding to
the fullest extent permitted by the Delaware General Corporation Law, subject
to certain very limited exceptions and (d)&nbsp;the rights conferred in the Bylaws
are not exclusive.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has entered into Indemnification Agreements with each of
its current directors and executive officers to give such directors and
officers additional contractual assurances regarding the scope of the
indemnification set forth in the Registrant&#146;s Amended and Restated Certificate
of Incorporation and Bylaws and to provide additional procedural protections.
At present, there is no pending litigation or proceeding involving a director,
officer or employee of the Registrant regarding which indemnification is
sought, nor is the Registrant aware of any threatened litigation that may
result in claims for indemnification.
</FONT>
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<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<P align="left"><FONT size="2"><B>Item&nbsp;8. EXHIBITS</B></FONT>

<CENTER>
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        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
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        <TD nowrap align="center"><FONT size="1"></FONT><HR size="1"></TD>
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<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of counsel regarding legality of the common stock being registered</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of KPMG LLP</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of counsel (included in opinion filed as Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (see signature page)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">99.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Click2learn, Inc. 1999 Employee Stock Purchase Plan (incorporated by
reference to Exhibit&nbsp;4.04 to Click2learn&#146;s S-8 Registration Statement
filed on July&nbsp;26, 1999)</FONT></TD>
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<P align="left"><FONT size="2"><B>Item&nbsp;9. UNDERTAKINGS</B></FONT>

<P><FONT size="2">A.&nbsp;The undersigned Registrant hereby undertakes:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
</FONT>
<P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp; To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;);
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp; To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement; and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp; To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
</FONT>
<P>

<P><FONT size="2">provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P align="center"><FONT size="2">II-2
</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp; To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
</FONT>
<P><FONT size="2">B.&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefits plan&#146;s annual
report pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">C.&nbsp;Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">II-3
</FONT>

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<!-- link1 "SIGNATURES" -->
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<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Bellevue, State of Washington, on the 9th day of
August, 2002.
</FONT>
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        <TD valign="top"><FONT size="2"><B>&nbsp;</B></FONT></TD>

        <TD align="left" valign="top" colspan="2"><FONT size="2">
<B>CLICK2LEARN, INC</B></FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>

        <TD align="left" valign="top"><FONT size="2">
By:&nbsp;&nbsp;</FONT></TD>
<TD><FONT size="2">/s/ Kevin Oakes</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD><TD><HR size="1"></TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Kevin Oakes<BR>
President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose individual signature appears below hereby authorizes
Kevin Oakes and John D. Atherly, or either of them, as attorneys-in-fact with
full power of substitution, to execute in the name and on the behalf of each
person, individually and in each capacity stated below, and to file, any and
all amendments to this Registration Statement, including any and all
post-effective amendments.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated below on the 9th day of August, 2002.
</FONT>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="40%">&nbsp;</TD>
        <TD width="10%">&nbsp;</TD>
        <TD width="40%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"  align="center"><FONT size="2">/s/ Kevin
Oakes<BR><HR size="1">Kevin Oakes</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
President, Chief Executive Officer and Chairman of the
Board (Principal Executive Officer)
Vice President, Finance and Administration and Chief
Financial Officer</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"  align="center"><FONT size="2">/s/ John D.
Atherly<BR><HR size="1">John D. Atherly</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
(Principal Financial and Accounting Officer)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ John W.
Con&#233;<BR><HR size="1">John W. Con&#233;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Edward
Harris<BR><HR size="1">Edward Harris</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Jonathan
D. Klein<BR><HR size="1">Jonathan D. Klein</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Bert
Kolde<BR><HR size="1">Bert Kolde</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Sally
Narodick<BR><HR size="1">Sally Narodick</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Ronald S.
Posner<BR><HR size="1">Ronald S. Posner</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Vijay
Vashee<BR><HR size="1">Vijay Vashee</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">II-4
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">
<TR valign="bottom">
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"></FONT><HR size="1"></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"></FONT><HR size="1"></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of counsel regarding legality of the common stock being registered</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of KPMG LLP</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of counsel (included in opinion filed as Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (see signature page)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">99.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Click2learn, Inc. 1999 Employee Stock Purchase Plan (incorporated by
reference to Exhibit&nbsp;4.04 to Click2learn&#146;s S-8 Registration Statement
filed on July&nbsp;26, 1999)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II5
</FONT>



</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "v83524sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 31814}]
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CLICK2LEARN, INC. Form S-8
Table of Contents
As filed with the Securities and Exchange Commission on August 9, 2002
Registration No. 333-_____
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
______________________
CLICK2LEARN, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation or organization)
91-1276003
(I.R.S. Employer Identification No.)
110-110th Avenue NE
Bellevue, Washington 98004
(Address of principal executive offices, including area code)
CLICK2LEARN, INC. 1999 EMPLOYEE STOCK PURCHASE PLAN
(Full title of the plan)
John D. Atherly
Chief Financial Officer and Vice President, Finance and Administration
Click2learn, Inc.
110-110th Avenue NE
Bellevue, Washington 98004
(425) 462-0501
(Name, address and telephone number, including area code, of agent for service)
______________________
Copy to:
Scott L. Gelband
Perkins Coie LLP
505 Fifth Avenue South, Suite 620
Seattle, Washington 98101-3846
(206) 287-3505
______________________
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Amount of
Amount to Be
Proposed Maximum
Aggregate Offering
Registration Fee
Title of Securities to be Registered
Registered (1)
Offering Price (2)
Price
(2)
Common Stock, $0.01 par value per
share, under the 1999 Employee
Stock Purchase Plan
900,000
$
.535
$
481,500
$
44.30
(1)
Together with an indeterminate number of additional shares which may be
necessary to adjust the number of shares reserved for issuance pursuant to
such employee benefit plan as the result of any future stock split, stock
dividend or similar adjustment of the Registrant's outstanding common
stock.
(2)
Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(c) under the Securities Act of 1933, as amended. The
calculation of the registration fee is based upon a per share price of
$.535 which was the average of the high
($.610) and low ($.460) sales
prices of Click2learn, Inc.'s common stock on August 7, 2002, as reported
for such date by the Nasdaq National Market.
TABLE OF CONTENTS
PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
Item 4. DESCRIPTION OF SECURITIES
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Item 8. EXHIBITS
Item 9. UNDERTAKINGS
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 5.1
EXHIBIT 23.1
Table of Contents
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed with the Securities and Exchange Commission
(the "Commission") by the registrant, Click2learn, Inc., a Delaware corporation
(the "Registrant"), are hereby incorporated by reference in this Registration
Statement:
(a)  the Registrant's Annual Report on Form 10-K for the year ended
December 31, 2001, filed on April 1, 2002, which contains audited financial
statements for the most recent fiscal year for which such statements have been
filed;
(b)  the Registrant's Quarterly Report on Form 10-Q for the fiscal quarter
ended March 31, 2002, filed on May 15, 2002;
(c)  the description of the Registrant's common stock contained in the
Registrant's registration statement on Form 8-A filed on May 19, 1998, under
Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), including any amendments or reports filed for the purpose of updating
such description; and
(d)  the Registrant's Current Reports on Form 8-K filed on April 8, 2002,
July 22, 2002 and August 8, 2002.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act after the date hereof, and prior to the filing
of a post-effective amendment which indicates that the securities offered
hereby have been sold or which deregisters the securities covered hereby then
remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the
respective date of filing of such documents.
Item 4. DESCRIPTION OF SECURITIES
Not applicable.
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
The opinion of counsel as to the legality of the securities that may be
issued under the Click2learn, Inc. 1999 Employee Stock Purchase Plan is given
by Steven Esau, Senior Vice President, General Counsel and Secretary for the
Registrant. Mr. Esau owns 672 shares of the common stock of the Registrant and
holds options to purchase an additional 178,908 shares, of which 119,844 are
currently exercisable.
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
As permitted by the Delaware General Corporation Law, Article VIII of the
Registrant's Amended and Restated Certificate of Incorporation includes a
provision that eliminates the personal liability of its directors for monetary
damages for breach of fiduciary duty as a director, except for liability (a)
for any breach of the director's duty of loyalty to the Registrant or its
stockholders, (b) for acts or omissions not in good faith or that involve
intentional misconduct or a knowing violation of law, (c) under Section 174 of
the Delaware General Corporation Law (regarding unlawful dividends and stock
purchases) or (d) for any transaction from which the director derived an
improper personal benefit.
As permitted by the Delaware General Corporation Law, Article VI of the
Registrant's Bylaws provides that (a) the Registrant is required to indemnify
its directors and officers to the fullest extent permitted by the Delaware
Table of Contents
General Corporation Law, subject to certain very limited exceptions, (b)
the Registrant may indemnify its other employees and agents to the extent that
it indemnifies its officers and directors, unless otherwise required by law,
its Amended and Restated Certificate of Incorporation, its Bylaws or
agreements, (c) the Registrant is required to advance expenses, as incurred, to
its directors and executive officers in connection with a legal proceeding to
the fullest extent permitted by the Delaware General Corporation Law, subject
to certain very limited exceptions and (d) the rights conferred in the Bylaws
are not exclusive.
The Registrant has entered into Indemnification Agreements with each of
its current directors and executive officers to give such directors and
officers additional contractual assurances regarding the scope of the
indemnification set forth in the Registrant's Amended and Restated Certificate
of Incorporation and Bylaws and to provide additional procedural protections.
At present, there is no pending litigation or proceeding involving a director,
officer or employee of the Registrant regarding which indemnification is
sought, nor is the Registrant aware of any threatened litigation that may
result in claims for indemnification.
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
Item 8. EXHIBITS
Exhibit
Number
Description
5.1
Opinion of counsel regarding legality of the common stock being registered
23.1
Consent of KPMG LLP
23.2
Consent of counsel (included in opinion filed as Exhibit 5.1)
24.1
Power of Attorney (see signature page)
99.1
Click2learn, Inc. 1999 Employee Stock Purchase Plan (incorporated by
reference to Exhibit 4.04 to Click2learn's S-8 Registration Statement
filed on July 26, 1999)
Item 9. UNDERTAKINGS
A. The undersigned Registrant hereby undertakes:
(1)  To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
(i)  To include any prospectus required by Section 10(a)(3) of the
Securities Act of 1933, as amended (the "Securities Act");
(ii)  To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement; and
(iii)  To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
II-2
Table of Contents
(3)  To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
B. The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefits plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
C. Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
II-3
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Bellevue, State of Washington, on the 9th day of
August, 2002.
CLICK2LEARN, INC
By:
/s/ Kevin Oakes
Kevin Oakes
President and Chief Executive Officer
POWER OF ATTORNEY
Each person whose individual signature appears below hereby authorizes
Kevin Oakes and John D. Atherly, or either of them, as attorneys-in-fact with
full power of substitution, to execute in the name and on the behalf of each
person, individually and in each capacity stated below, and to file, any and
all amendments to this Registration Statement, including any and all
post-effective amendments.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated below on the 9th day of August, 2002.
Signature
Title
/s/ Kevin
Oakes
Kevin Oakes
President, Chief Executive Officer and Chairman of the
Board (Principal Executive Officer)
Vice President, Finance and Administration and Chief
Financial Officer
/s/ John D.
Atherly
John D. Atherly
(Principal Financial and Accounting Officer)
/s/ John W.
Coné
John W. Coné
Director
/s/ Edward
Harris
Edward Harris
Director
/s/ Jonathan
D. Klein
Jonathan D. Klein
Director
/s/ Bert
Kolde
Bert Kolde
Director
/s/ Sally
Narodick
Sally Narodick
Director
/s/ Ronald S.
Posner
Ronald S. Posner
Director
/s/ Vijay
Vashee
Vijay Vashee
Director
II-4
Table of Contents
INDEX TO EXHIBITS
Exhibit
Number
Description
5.1
Opinion of counsel regarding legality of the common stock being registered
23.1
Consent of KPMG LLP
23.2
Consent of counsel (included in opinion filed as Exhibit 5.1)
24.1
Power of Attorney (see signature page)
99.1
Click2learn, Inc. 1999 Employee Stock Purchase Plan (incorporated by
reference to Exhibit 4.04 to Click2learn's S-8 Registration Statement
filed on July 26, 1999)
II5