How is "Toras Chacham Mekor Chayim"?
Rashi: It teaches him "to veer from fatal pitfalls."
R. Yonah: Just like a spring's source constantly flows its liquid, so a Chacham, his Musarim are renewed constantly on all people. All his actions and matters that they encounter, they will find new Musar of Chachmah and righteous counsel.
Malbim: The way of Chachmah is called Derech Chayim. Its opposite is the way of folly and death of the Nefesh. One who draws water of Chachmah and drinks from it, he will live forever. The source from which the water flows, is either (a) seeing a Tzadik's action and conduct - "Mekor Chayim Pi Tzadik" (10:11), or (b) via Yir'as Hashem.
What is the meaning of "Lasur mi'Mokeshei Maves"?
R. Yonah: One who is rebuked and is obsessed with their rebuke and words of Chachmah, he veers from fatal pitfalls.
Malbim: There is a path of death opposite him, which puts pitfalls around the Nefesh to trap it - desires and bad natures. To be saved from them, one must draw Mayim Chayim from Toras Chacham. A Chacham who received all the laws of Chachmah teaches them arranged and informs all the Kelalim and details - what is the way of Chachmah and what is the way of folly.
