Document:

Exhibit 10.2

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION
AGREEMENT (this “Agreement”) is made and entered into as of November 10, 2014 by and between Legacy Education
Alliance, Inc., a Nevada corporation (the “Company”), and the undersigned individual (“Indemnitee”).

 

WITNESSETH THAT:

 

WHEREAS, highly competent
persons have become more reluctant to serve corporations as directors, officers or in other capacities unless they are provided
with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of the corporation;

 

WHEREAS, the Board of Directors
of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals,
the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the
Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread
practice among United States-based corporations and other business enterprises, the Company believes that, given current market
conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At
the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly
subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been
brought only against the Company or business enterprise itself. The Amended and Restated Certificate of Incorporation of the Company
(the “Certificate”) and the By-laws of the Company (the “By-laws”) require indemnification
of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to Nevada Revised Statutes
(“NRS”). The Certificate, the By-laws and the NRS expressly provide that the indemnification provisions set
forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of
the Board with respect to indemnification;

 

WHEREAS, the uncertainties
relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board has
determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s
stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in
the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such
persons to the fullest extent permitted by law so that they will serve or continue to serve the Company free from undue concern
that they will not be so indemnified;

 

WHEREAS, this Agreement
is a supplement to and in furtherance of the Certificate and the By-laws and any resolutions adopted pursuant thereto, and shall
not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee does not regard the
protection available under the Certificate, the By-laws or insurance as adequate in the present circumstances, and may not be
willing to serve as an officer or director, or in any similar capacity, without adequate protection, and the Company desires Indemnitee
to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf
of the Company on the condition that he be so indemnified.

 

    	 

    	Indemnification
                                         Agreement

    

 

NOW, THEREFORE, in consideration
of Indemnitee’s agreement to serve as a director of the Company after the date hereof, the parties hereto agree as follows:

 

1.             Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent not prohibited
by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality
thereof:

 

(a)            Indemnitee shall be entitled to the rights of indemnification provided in this Section 1(a) if, by reason of his Corporate Status
(as hereinafter defined), Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter
defined) other than a Proceeding by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified
against all Expenses (as hereinafter defined), liability and loss (including judgments, fines, ERISA excise taxes or penalties,
amounts paid or to be paid in settlement, and any interest, assessments, or other charges imposed on any such amounts, and any
federal, state, local, or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under
this Agreement) (collectively, “Liabilities”) actually and reasonably incurred by him, or on his behalf, in
connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the interests of the Company and with respect to any criminal Proceeding, had no
reasonable cause to believe Indemnitee’s conduct was unlawful, it being acknowledged that any action taken by the Indemnitee
upon the advice of counsel shall provide a rebuttable presumption that such action was not opposed to the interests of the Company
or that Indemnitee had no reasonable cause to believe his conduct was unlawful.

 

(b)            Indemnitee shall be entitled to the rights of indemnification provided in this Section 1(b) if, by reason of his Corporate
Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by or in the right of the
Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against all Expenses actually incurred by Indemnitee,
or on Indemnitee’s behalf, in connection with such Proceeding if Indemnitee acted in good faith; provided, however, if applicable
law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding
as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that a court of competent
jurisdiction (the “Court”) shall determine that such indemnification may be made.

 

(c)            Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a party
to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified to the maximum extent not prohibited
by law, as such may be amended from time to time, against all Expenses actually and reasonably incurred by him or on his behalf
in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against
all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue
or matter. For purposes of this Section 1 and without limitation, the termination of any claim, issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

(d)            If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of
Expenses and Liabilities, but not, however, for the total amount thereof, the Company shall nevertheless indemnify the Indemnitee
for the portion thereof to which the Indemnitee is entitled.

 

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    	INDEMNIFICATION AGREEMENT

    

 

2.             Additional Indemnity.

 

(a)            In addition to, and without regard to any limitations on, the indemnification provided for in Section 1, the Company shall
and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement
actually and reasonably incurred by him or on his behalf if, by reason of his Corporate Status, he is, or is threatened to be made,
a party to or participant in any Proceeding (including, without limitation, a Proceeding by or in the right of the Company), including,
without limitation, all liability arising out of the negligence or active or passive wrongdoing of Indemnitee.

 

(b)            In addition to, and without regard to any limitations on, the indemnification provided for in Section 1, in the event that
the Company provides rights to any person by reason of their Corporate Status or otherwise incurs a similar indemnification obligation
to any individual or entity that provides any greater rights to such indemnified individual or entity than the rights provided
to Indemnitee, then without any further action by any party to this Agreement, the Indemnitee shall be provided such greater rights.

 

(c)            The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company
shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions,
set forth in Sections 6 and 7) to be unlawful.

 

3.             Contribution.

 

(a)            Whether or not the indemnification provided in Sections 1 or 2 is available, in respect of any threatened, pending or completed
action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit
or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any right
of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless (i) such
settlement provides for a full and final release of all claims asserted against Indemnitee, or (ii) the Indemnitee engaged in willful
misconduct that violates applicable law or gross negligence, or (iii) the Indemnity consents to such settlement.

 

(b)            Without diminishing or impairing the obligations of the Company set forth in Section 3(b), if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding),
the Company shall contribute to the amount of expenses (including, without limitation, attorneys’ fees and disbursements),
judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion
to the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee,
who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee,
on the other hand, from the transaction from which such action, suit or proceeding arose; provided, however, that the proportion
determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to
the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly
liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other
hand, in connection with the events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other
equitable considerations which the Law may require to be considered. The relative fault of the Company and all officers, directors
or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things,
the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability
is primary or secondary and the degree to which their conduct is active or passive.

 

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    	INDEMNIFICATION AGREEMENT

    

 

(c)            The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought
by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d)            To the fullest extent not prohibited under law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee,
whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection
with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and
Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of
the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

4.             Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee
is, by reason of his Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, he shall be indemnified
against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

 

5.             Advancement of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred
by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status, including without
limitation, any retainers or similar payments or deposits, within thirty (30) days after the receipt by the Company of a statement
or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition
of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include
or be preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately
be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay pursuant
to this Section 5 shall be unsecured and interest free.

 

6.             Procedures and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure
for Indemnitee rights of indemnity that are as favorable as may be permitted under the NRS and public policy of the State of Nevada.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether
Indemnitee is entitled to indemnification under this Agreement:

 

(a)            To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or
therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine
whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt
of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

 

(b)            Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a), a determination, if
required by law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following
four methods, which shall be at the election of the Board: (1) by a majority vote of the Disinterested Directors, even though less
than a quorum, (2) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even
though less than a quorum, (3), if there are no Disinterested Directors, or if the Disinterested Directors so direct, by Independent
Legal Counsel (as defined below) in written advice to the Board, a copy of which shall be delivered to Indemnitee, or (4) if so
directed by the Board, by the stockholders of the Company.

 

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    	INDEMNIFICATION AGREEMENT

    

 

(c)            If the determination of entitlement to indemnification is to be made by Independent Legal Counsel pursuant to Section 6(b),
the Independent Legal Counsel shall be selected as provided in this Section 6(c). The Independent Legal Counsel shall be selected
by the Board. Indemnitee may, within ten (10) days after such written notice of selection shall have been given, deliver to
the Company, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted
only on the ground that the Independent Legal Counsel so selected does not meet the requirements of “Independent Legal Counsel”
as defined in Section 13, and the objection shall set forth with particularity the factual basis of such assertion. Absent
a proper and timely objection, the person so selected shall act as Independent Legal Counsel. If a written objection is made and
substantiated, the Independent Legal Counsel selected may not serve as Independent Legal Counsel unless and until such objection
is withdrawn or a court has determined that such objection is without merit. If, within twenty (20) days after submission by Indemnitee
of a written request for indemnification pursuant to Section 6(a), no Independent Legal Counsel shall have been selected and
not objected to, either the Company or Indemnitee may petition the Court or other court of competent jurisdiction for resolution
of any objection which shall have been made by Indemnitee to the Company’s selection of Independent Legal Counsel and/or
for the appointment as Independent Legal Counsel of a person selected by the court or by such other person as the court shall designate,
and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Legal Counsel
under Section 6(b). The Company shall pay any and all reasonable fees and expenses of Independent Legal Counsel incurred by
such Independent Legal Counsel in connection with acting pursuant to Section 6(b), and the Company shall pay all reasonable
fees and expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Legal
Counsel was selected or appointed.

 

(d)            In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this
presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of
the Company (including, without limitation, by its directors or Independent Legal Counsel) to have made a determination prior to
the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee
has met the applicable standard of conduct, nor an actual determination by the Company (including, without limitation, by its directors
or Independent Legal Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action
or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(e)            Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account
of the Enterprise, including, without limitation, financial statements, or on information supplied to Indemnitee by the officers
of the Enterprise (as hereinafter defined) in the course of their duties, or on the advice of legal counsel for the Enterprise
or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser
or other expert selected with reasonable care by the Enterprise. In addition, the knowledge and/or actions, or failure to act,
of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the
right to indemnification under this Agreement. Whether or not the foregoing provisions of this Section 6(e) are satisfied,
it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed to
be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of
proof and the burden of persuasion by clear and convincing evidence.

 

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    	INDEMNIFICATION AGREEMENT

    

 

(f)             If the person, persons or entity empowered or selected under this Section 6 to determine whether Indemnitee is entitled to
indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor,
the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled
to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition
of such indemnification under law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed
an additional thirty (30) days, if the person, persons or entity making such determination with respect to entitlement to indemnification
in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided,
further, that the foregoing provisions of this Section 6(f) shall not apply if the determination of entitlement to indemnification
is to be made by the stockholders pursuant to Section 6(b) and if (A) within fifteen (15) days after receipt by the Company
of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to submit such determination
to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt
and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after
such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having
been so called and such determination is made thereat.

 

(g)            Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including, without limitation, providing to such person, persons or entity upon reasonable advance request
any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available
to Indemnitee and reasonably necessary to such determination. Any Independent Legal Counsel, member of the Board or stockholder
of the Company shall act reasonably and in good faith in making a determination regarding Indemnitee’s entitlement to indemnification
under this Agreement. Any costs or expenses (including, without limitation, attorneys’ fees and disbursements) incurred by
Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective
of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to
hold Indemnitee harmless therefrom.

 

(h)            The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party
to avoid expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee
is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement
of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee
has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption
shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

 

(i)             The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

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    	INDEMNIFICATION AGREEMENT

    

 

7.             Remedies of Indemnitee.

 

(a)            In the event that (i) a determination is made pursuant to Section 6 that Indemnitee is not entitled to indemnification under
this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5, (iii) no determination of entitlement
to indemnification is made pursuant to Section 6(b) within ninety (90) days after receipt by the Company of the request
for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within ten (10) days after receipt
by the Company of a written request therefor or (v) payment of indemnification is not made within ten (10) days after a determination
has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to Section 6,
Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Nevada, or in any other court of competent
jurisdiction, of Indemnitee’s entitlement to such indemnification. Indemnitee shall commence such proceeding seeking an adjudication
within one hundred and eighty (180) days following the date on which Indemnitee first has the right to commence such proceeding
pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek any such adjudication.

 

(b)            In the event that a determination shall have been made pursuant to Section 6(b) that Indemnitee is not entitled to indemnification,
any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial on the
merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b).

 

(c)            If a determination shall have been made pursuant to Section 6(b) that Indemnitee is entitled to indemnification, the Company
shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement not materially
misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under law.

 

(d)            In the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover
damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies
maintained by the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described in the
definition of Expenses in Section 13) actually and reasonably incurred by him in such judicial adjudication, regardless of
whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

 

(e)            The Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any court having jurisdiction
over such proceeding that the Company is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee
against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written
request therefore) advance, to the extent not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee
in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement
or under any directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether
Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the
case may be.

 

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    	INDEMNIFICATION AGREEMENT

    

 

(f)             Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement
shall be required to be made prior to the final disposition of the Proceeding.

 

8.             Non-Exclusivity; Survival of Rights; Insurance; Subrogation; No Presumption.

 

(a)            The rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee
may at any time be entitled under law, the Certificate, the By-laws, any agreement, a vote of stockholders, a resolution of directors
or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right
of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to
such amendment, alteration or repeal. To the extent that a change in the DGCL or other law, whether by statute or judicial decision,
permits greater indemnification than would be afforded currently under the Certificate, the By-laws and this Agreement, it is the
intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No
right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall
be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity
or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion
or employment of any other right or remedy.

 

(b)            The Company hereby covenants and agrees that, so long as the Indemnitee shall continue to serve as an agent of the Company and
thereafter so long as the Indemnitee shall be subject to any possible proceeding by reason of the fact that the Indemnitee was
an agent of the Company, the Company, subject to Section 8(c), shall promptly obtain and maintain (or enter into an arrangement
with another person that provides the Indemnitee similar rights) in full force and effect directors’ and officers’
liability insurance (“D&O Insurance”) in reasonable amounts, but in no event less than the amount
that may be specified from time to time by the Company to the Indemnitee, from established and reputable insurers. In all policies
of D&O Insurance, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee the same rights
and benefits as are accorded to the most favorably insured of the Company’s directors. In connection with any sale of the
Company, including any merger, the Company shall use its reasonable commercial efforts to maintain an insurance policy for a reasonable
period or “tail” after the closing date of such sale or merger.

 

(c)            Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Board determines
in good faith, by a two-thirds (2/3) majority of its members, that the premium costs for such insurance are substantially disproportionate
to the amount of coverage provided, the coverage provided by such insurance is limited by exclusions so as to provide an insufficient
benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company. In making any determination
to eliminate or reduce D&O Insurance coverage, the Board shall seek the advice of Independent Legal Counsel or other advisors
experienced in the review and analysis of D&O Insurance coverage (or other applicable documentation).

 

(d)            Upon reasonable request, the Company shall provide Indemnitee or his or her counsel with a copy of all D&O Insurance applications,
binders, policies, declarations, endorsements and related materials.

 

(e)            Promptly after (i) learning of facts and circumstances which may give rise to a proceeding, the Company shall notify its D&O
Insurance carriers, if such notice is required by the applicable insurance policies, and any other insurance carrier providing
applicable insurance coverage to the Company, of such facts and circumstances, or (ii) receiving notice of a proceeding, whether
from Indemnitee, or otherwise, the Company shall give prompt notice to its D&O Insurance carriers, and any other insurance
carriers providing applicable insurance coverage to the Company, in accordance with the requirements of the respective insurance
policies. The Company shall, thereafter, take all appropriate action to cause such insurance carriers to pay on behalf of Indemnitee,
all expenses incurred or to be incurred, and liability incurred, by Indemnitee with respect to such proceeding, in accordance with
the terms of the applicable D&O Insurance policies.

 

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    	INDEMNIFICATION AGREEMENT

    

 

(f)             In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(g)            The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to
the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 

(h)            The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of
the Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of expenses
from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

 

(i)             For purposes of this Agreement, to the fullest extent permitted by law, the termination of any Proceeding, action, suit or claim,
by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its
equivalent, shall not create a presumption that the Indemnitee did not meet any particular standard of conduct or have any particular
belief or that a court has determined that indemnification is not permitted by applicable law.

 

9.             Exception to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated
under this Agreement to make any indemnity in connection with any claim made against Indemnitee:

 

(a)            for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or

 

(b)            for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory
law or common law; or

 

(c)            in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part
of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless
(i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides
the indemnification, in its sole discretion, pursuant to the powers vested in the Company under law.

 

    	9

    	INDEMNIFICATION AGREEMENT

    

 

10.           Duration of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee
is a director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise), plus three (3) years thereafter, and shall continue in all
events thereafter so long as Indemnitee shall be subject to any Proceeding (or any proceeding commenced under Section 7) by
reason of his Corporate Status, not matter when instituted, whether or not he is acting or serving in any such capacity at the
time any liability or expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall
be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including
any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or
assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives. Notwithstanding the foregoing,
no legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any affiliate of the
Company against the Indemnitee, the Indemnitee’s spouse, heirs, executors or personal or legal representatives after the
expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company or its
affiliate shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such period;
provided, however, that if any shorter statute of limitations is otherwise applicable to any such cause of action, such shorter
statute of limitations shall govern.

 

11.           Security. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to
time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded
trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written
consent of Indemnitee.

 

12.           Enforcement.

 

(a)            The Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby
in order to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is
relying upon this Agreement in serving as an officer or director of the Company.

 

(b)            This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

13.           Definitions. For purposes of this Agreement

 

(a)            “Corporate Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary
of the Company, a subsidiary of the Company or of any other corporation, partnership, limited liability company, joint venture,
trust, employee benefit plan or other enterprise that such person is or was serving at the express written request of the Company.
For the avoidance of doubt, “Corporate Status” does not include the status of a person described in the foregoing sentence
in his or her role as a representative of any stockholder of the Company.

 

(b)            “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect
of which indemnification is sought by Indemnitee.

 

(c)            “Enterprise” shall mean the Company and any other corporation, partnership, limited liability company, joint venture,
trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express written request of the Company
as a director, officer, employee, agent or fiduciary.

 

    	10

    	INDEMNIFICATION AGREEMENT

    

 

(d)            “Expenses” shall include all attorneys’ fees, disbursements, retainers, court costs, transcript costs, fees of
experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service
fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding. Expenses also shall
include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium,
security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. Expenses, however,
shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(e)            “Independent Legal Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any
matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under
the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable
fees of the Independent Legal Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims,
liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

(f)             “Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought
by or in the right of the Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee
was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of
the Company, by reason of any action taken by him or of any inaction on his part while acting as an officer or director of the
Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, employee, agent
or fiduciary of another corporation, partnership, limited liability company, joint venture, trust or other Enterprise; in each
case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification
can be provided under this Agreement; including one pending on or before the date of this Agreement, but excluding one initiated
by an Indemnitee pursuant Section 7 to enforce his rights under this Agreement.

 

14.           Severability. The invalidity of unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee
indemnification rights to the fullest extent permitted by law. In the event any provision hereof conflicts with any law, such provision
shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

15.           Modification and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless
executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall
constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

16.           Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving
any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which
may be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any
obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or
delay materially prejudices the Company.

 

    	11

    	INDEMNIFICATION AGREEMENT

    

 

17.           Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be
deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or
facsimile if such address is so provided under this Section 17 and sent during normal business hours of the recipient, and if not
so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt
requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All communications shall be sent:

 

(a)        To Indemnitee at the address set forth below Indemnitee signature hereto.

 

(b)        To the Company at:

 

             Legacy
Education Alliance, Inc.

             1612
E. Cape Coral Parkway

             Cape
Coral, Florida 33904

             Attention: Chairman of the Board

 

or to such other address as may have been furnished
to Indemnitee by the Company or to the Company by Indemnitee, as the case may be; provided, that any notice providing such other
address shall be effective only if such notice expressly references this Agreement and this Section 17.

 

18.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature and in two
or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

19.           Headings. The headings of the Sections of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction thereof.

 

20.           Arbitration. Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination,
enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this agreement to
arbitrate, shall be determined by arbitration in Honolulu, Hawaii if the Indemnitee commences the action or proceeding or the State
of domicile of the Indemnitee if the Company commences the action or proceeding, in each case, before three arbitrators. The arbitration
shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited
Procedures in those Rules. Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude
parties from seeking provisional remedies in aid of arbitration from a court of appropriate.

 

    	12

    	INDEMNIFICATION AGREEMENT

    

 

21.           Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by,
and construed and enforced in accordance with, the laws of the State of Nevada, without regard to its conflict of laws rules. The
Company and Indemnitee hereby irrevocably and unconditionally (i) agree that, subject to the provisions of Section 20, any
action or proceeding arising out of or in connection with this Agreement shall be brought and maintained only in the state courts
of Nevada, and not in any other state or federal court in the United States of America or any court in any other country, unless
such courts are unable to adjudicate such action or proceeding, whereupon such action or proceeding may be brought and maintained
in any court of competent jurisdiction, (ii) consent to submit to the exclusive jurisdiction of the state courts of Nevada
for purposes of any action or proceeding arising out of or in connection with this Agreement, unless such action or proceeding
is brought or maintained in another court as provided in clause (i) above, (iii) appoint, to the extent such party is not
otherwise subject to service of process in the State of Nevada, irrevocably the the Court as its agent in the State of Nevada as
such party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with
the same legal force and validity as if served upon such party personally within the State of Nevada, (iv) waive any objection
to the laying of venue of any such action or proceeding in the Court, unless such action or proceeding is brought or maintained
in another court as provided in clause (i) above, and (v) waive, and agree not to plead or to make, any claim that any such
action or proceeding brought in the Court has been brought in an improper or inconvenient forum, unless such action or proceeding
is brought or maintained in another court as provided in clause (i) above.

 

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blank]

 

    	13

    	INDEMNIFICATION AGREEMENT

    

 

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement on and as of the day and year first above written.

 

	 	COMPANY

	 	 	 
	 	LEGACY EDUCATION ALLIANCE, INC.
		 

                                           
	
	 	
        

        By: 

        
	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	
        

        INDEMNITEE
	 
	 	 	 
	 	
        

        

        By:

        
	 
	 	 	 
	 	Name:	 
	 	 	 
	 	
        

        Address:
	 
	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Phone:	 
	 	 	 
	 	Fax:	 
	 	 	 
	 	Email:Exhibit
10.3

 

 EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
AGREEMENT (this "Agreement") is made as of the____day of October, 2013
(the "Effective Date"), by and between TIGRENT INC., a Colorado corporation, with an address of 1612 E. Cape Coral Parkway,
Cape Coral, FL 33904 (the "Company")  and ANTHONY C. HUMPAGE, an individual residing at _________________      (the
"Executive").

 

WHEREAS
Executive was engaged by the Company as Chief Executive Officer commencing September 1, 2012 (the "Start Date");
and

 

WHEREAS,
the Company desires to continue to employ Executive in the capacity of Chief Executive Officer; and

 

WHEREAS
Executive is willing to continue make his services available to the Company on the terms and conditions set forth in this
Agreement;

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein, and for such other good and valuable consideration,
the receipt and sufficiency of which are hereby conclusively acknowledged, the parties, intending to be legally bound, agree as
follow:

 

1.             Term.
The Company hereby employs Executive as Chief Executive Officer of the Company and Executive agrees to serve the Company as such
upon the terms and conditions hereof commencing on the Effective Date and continuing until terminated by either the Company or
Executive subject to and in accordance with Section 7 of this Agreement (the "Term").

 

2.             Duties.

               
 

(a)            
Executive shall serve as the Chief Executive Officer of the Company and shall report directly to the Board of Directors thereof
(the "Board"). Executive shall also serve on the Board without additional compensation. Executive shall also, if requested
by the Board, serve as an executive officer of any Company subsidiary or joint venture company and/or as a fiduciary of any Company,
subsidiary or joint venture company benefit plan(s).

 

(b)        
    Executive shall have such duties and responsibilities as are customary
for Executive's position and any other duties or responsibilities that may be assigned or delegated to him from time to time.
Executive agrees that he will use his best efforts to fulfill his duty of loyalty and care to the Company and to promote the business
and interests of the Company above all others and that he will not engage, directly or indirectly, in any other business or occupation
during the Employment Term, except as expressly permitted by the Board. It is understood, however, that the foregoing will not
prohibit Executive from (i) devoting reasonably limited time to charitable activities and personal investment activities
for himself and his family that do not interfere materially with the performance of his duties hereunder or (ii) serving on the
board(s) of any other corporate, civic or charitable organizations so long as such service is not inconsistent with his fiduciary
obligations to the Company or otherwise conflicts with his obligations under the Covenant Agreement.

 

    	

    	 

    

 

3.             Compensation.

 

(a)               Base
Annual Salary. The Company will pay Executive for all services to be rendered by Executive hereunder (including and without
limitation, all services to be rendered by him as an officer and/or director of the Company and its subsidiaries and affiliates)
a base annual salary (the "Base Annual Salary"), payable at least bi-weekly or otherwise in accordance with customary
payroll practices for senior executives of the Company. The initial Base Annual Salary is Three Hundred Thousand Dollars ($300,000.00).
On or about each anniversary of the Contract Start Date, the Board may review the Base Annual Salary with Executive, and the Base
Annual Salary may be adjusted at the discretion of the Board during the Employment Term.

 

(b)             
Incentive Compensation. Executive shall be eligible to receive
an annual bonus ("Annual Bonus") and other long term incentive compensation, which are intended to comply with Section
162(m) of the Internal Revenue Code of 1986, as amended (the "Code"), under such executive bonus plans and long term
incentive plans as may be established by the Compensation Committee of the Board in its sole discretion from time to time, subject
to the terms and conditions of such plans. The Annual Bonus will be based on the achievement of Company and individual performance
goals to be established by the Compensation Committee, with annual target incentive bonuses of 100% of the Base Annual Salary.

 

(c)              
Repayment upon Material Restatement.

               
 

                  The
independent members of the Board ("Independent Director Committee") may. in its discretion, require reimbursement of
any Annual Bonus or other incentive payments to Executive where: (I) the payment of such Annual Bonus or other incentive payments
to Executive was predicated upon achieving certain financial results that were subsequently the subject of a material restatement
of the Company's audited financial statement with the need for such restatement having been confirmed by the Company's independent
auditors; (2) the Independent Director Committee determines Executive engaged in gross negligence or willful misconduct that substantially
caused the need for the restatement; and (3) a lower payment would have been made to Executive based upon the restated financial
results. In each such instance, the Executive shall repay to the Company the amount by which the Executive's Annual Bonus or other
incentive payments for the relevant period exceeded the lower payments that would have been made based on the restated financial
results; provided, however, that the Executive shall not be required to repay any Annual bonus or other incentive payments, or
portion thereof, pursuant to this paragraph if such payments relate to accounting periods occurring
two (2) years (or such longer time period as may be required by law) or more prior to the restatement. Before the Independent
Director Committee determines whether Executive engaged in gross negligence or willful misconduct that caused or substantially
caused the need for the substantial restatement, it shall provide to Executive written notice and the opportunity to be heard,
at a meeting of the Independent Director Committee (which may be in-person or telephonic, as determined by the Independent Director
Committee).

 

    	2

    	 

    

 

(d)             Vacation.
Retroactive to the Start Date, and continuing through the Term of Executive's employment under this Agreement, Executive shall
be entitled to four (4) weeks of paid annual vacation.

 

4.              Expenses.Retroactive
to the Start Date, and continuing through the Term of Executive's employment under this Agreement, within thirty (30) days after
the submission of reasonable supporting documentation by Executive and in accordance with the Company's expense reimbursement
policy, the Company shall reimburse Executive for all reasonable and customary business, travel, and entertainment expenses incurred
by Executive in the course of and pursuant to the business of the Company. In addition, the Company shall reimburse Executive
for reasonable travel expenses Executive incurs in traveling from Executive's residence in Arizona to Cape Coral, Florida from
time to time and for reasonable temporary living expenses Executive incurs for room, board and transportation in the Cape Coral,
FL area.

 

5.              Executive
Benefits. Retroactive to the Start Date, and continuing through during the Term of Executive's employment under this Agreement,
Executive shall be entitled to participate in any employee benefit plans, programs or policies provided to other full time employees
or senior management of the Company or which may become in effect for the benefit of any other employees or senior management
of the Company at any time during the course of Executive's employment by the Company, subject to the terms of such plans, programs
or policies. Such other benefits shall include, but not be limited to, directors' and officers' liability insurance maintained
by the Company for the benefit of its directors and officers. Nothing in this Agreement shall preclude the Company from amending
or terminating any such plan at any time.

 

6.              Withholding.
 All payments required to be made by the Company to Executive hereunder shall be subject to the withholding of such amounts
relating to taxes and other governmental assessments as the Company may reasonably determine it should withhold pursuant to any
applicable law, rule, or regulation.

 

    	3

    	 

    

 

7.              Termination
of Employment.

         
 

(a)              Death:
Permanent Disability. Upon the death of Executive during the term of this Agreement,
the Employment Term shall terminate. If during the Employment Term Executive fails, because of illness or other incapacity, to
perform the services required to be performed by him hereunder for any period of more than 90 days during any calendar year (provided
that vacation time, if not previously taken, shall be exhausted before the above 90-day
period commences to run) (any such illness or incapacity being hereinafter referred to as "Permanent Disability"),
then the Company, in its discretion, may at any time thereafter terminate the Employment Term upon not less than 30 days' written
notice thereof to Executive, and the Employment Term shall terminate and come to an end upon the date set forth in said notice
as if said date were the termination date of the Employment Term; provided, however, that no such termination shall be effective
if prior to the date when such notice is given, Executive's illness or incapacity shall have terminated and he shall be physically
and mentally able to perform the services required hereunder and shall have taken up and be performing such duties.

 

If
Executive's employment shall be terminated by reason of his death or
Permanent Disability, Executive or his estate, as the case may be, shall be entitled to receive (i) any earned and unpaid salary
through the date of termination; (ii) a pro rata portion of any annual bonus that Executive otherwise would have been entitled
to receive pursuant to any bonus plan or arrangement for senior executives of the Company (such pro rata portion to be payable
at the time such annual bonus otherwise would have been payable to Executive); and (iii) subject to the terms thereof, any benefits
that may be due to Executive on the date of his termination under the provisions of any employee
benefit plan, program, or policy of the Company. If Executive's employment is terminated by reason of his Permanent Disability,
Executive shall be entitled to receive short-term disability benefits subject to the terms of the Company's short-term disability
plan until such time as Executive becomes entitled to the benefits under the Company's Long Term Disability Plan; provided that
the Company's obligation to provide such short-term disability benefits to Executive shall not under any circumstances extend
beyond the maximum period provided in the Company's short-term disability plan plus an additional 90 days.

 

(b)              Termination
for Cause or Upon Executive's Resignation. If the Employment Term is terminated (i) by Executive (other than as a result of
a material breach by the Company as set forth in Section 7(c) or (ii) by the Company for Cause, in either case, Executive shall
be entitled to receive only (x) any earned and unpaid Base Annual Salary accrued through the date of termination and (y) subject
to the terms thereof, any benefits which may be due to Executive on such date under the provisions of any employee benefit plan,
program, or policy. If Executive is terminated for Cause, the Company shall deliver written notice to Executive, which notice
shall specify the item of Cause for which Executive has been terminated.

 

For
purposes of this Agreement, "Cause" and "for Cause" shall mean (i) any intentional breach of
Executive's fiduciary duty to the Company, including but not limited to fraud, dishonesty, embezzlement, and failure to follow
directions of the Board of Directors or of the Company's parent corporation; (ii) Executive's material breach of this Agreement
(iii) Executive's material breach of the Covenant Agreement; (iv) Executive's gross negligence or willful misconduct in the performance
of his duties that materially adversely affects the Company; (v) any material violation by Executive of the Company's non-discrimination,
non-harassment, or non-retaliation policies or procedures as may be established by the Company from time to time; (vi) conviction
of, or a plea to, a felony (including a plea of nolo contendere); or (vii) Executive's continued failure to perform in any material
respect his duties to the Company as specifically directed by the Board; provided, however, that (A) the Company shall give Executive
notice of any circumstances described in (ii) or (vii) above, which notice shall describe such circumstances in reasonable detail,
and (B) no for "Cause" termination shall be deemed to exist if Executive shall remedy or cure the relevant circumstances
within 20 days from his receipt of such notice. Termination for Cause under clause (ii) or (vii) shall be effective immediately
following expiration of the 20-day cure period as aforesaid; provided Executive has not previously cured the event of Cause; and
termination for Cause under (iv) shall be effective immediately upon receipt by Executive of written notice of termination.

 

    	4

    	 

    

 

(c)              Termination
Other than for Cause or Upon Material Breach by Company. If the Employment
Term is terminated (i) by the Company other than for Cause or (ii) by Executive, subject to the succeeding sentence, following
a material breach by the Company of this Agreement (including, but not limited to, any material diminution in the scope of the
Executive's duties or a reduction in the Annual Salary payable hereunder), in either case, the Company shall continue to pay to
Executive (x) the Base Annual Salary in effect at the end of the Employment Term for a period of six (6) months after
such termination of this Agreement payable in installments at least bi-weekly or otherwise in accordance with customary payroll
practices for senior executives of the Company. and, as severance compensation, (y) a prorated bonus ("Prorated Termination
Bonus") in an amount equal to the Annual Bonus for the Executive that has accrued, if any, at the end of the calendar quarter
immediately prior to the quarter in which the termination of the Executive's employment occurs prorated out through end of the
calendar quarter in which the Executives termination occurs, multiplied by a fraction, the numerator of which is the number of
completed calendar days of employment during the calendar year in which the Executive's employment terminates and the denominator
of which is the total number of calendar days through the end of the calendar quarter in which the termination of the Executive's
employment occurs. By way of example only, if Executive's employment terminates under this paragraph on the 300th day
of the year (i.e., within the fourth quarter) and the accrued Annual Bonus as of the end of third quarter is $30,000, then the
Executive shall be entitled to a Prorated Termination Bonus as follows:

 

3"
Quarter Accrual ($30,000) prorated through the end of the 4th quarter = $40,000

 

$40,000
x 300 (number of days in the calendar year on day of termination) / 365 (number of calendars days at the end of the quarter
in which the termination occurs) = $32,877 Prorated Termination Bonus.

 

    	5

    	 

    

 

The
Prorated Termination Bonus shall be paid to Executive in accordance with the provisions of Section 3 above.

 

If
there is a material breach of this Agreement by the Company, Executive shall, within 30 days following his knowledge of such breach,
deliver written notice to the Company, which notice shall specify such material breach. No material breach shall be deemed to
exist if the Company shall remedy or cure the relevant circumstances within 20 days of its receipt of such notice. Payment by
the Company of any amounts set forth in this Section 7(c), shall be conditioned upon (i) Executive executing a general release
in favor of the Company (which release shall be reasonably satisfactory to the Company and shall exclude the Company's obligations
in this Section and its obligations in Section 3) and (ii) Executive's continued compliance with the terms and conditions of Covenant
Agreement. Notwithstanding anything contained in any Company annual incentive bonus plan, payment of any Termination Prorated
Bonus pursuant to this paragraph 7(c) shall be in complete and total satisfaction of any obligation of the Company to Executive
under such annual incentive bonus plan with respect to the performance period to which the Termination Prorated Bonus relates.

 

(d)             Termination
following Change of Control. If the Employment Term is terminated by (i) the Company without
Cause or by Executive following a material breach by the Company, (including, but not limited to, any material diminution in the
scope of the Executive's duties or a reduction in the Annual Salary payable hereunder), in either case within eighteen (18) months
following a Change of Control (as defined below) of the Company, (a "Change of Control Termination") then (i)
the Company shall pay to Executive in a lump sum payment (x) all Base Salary that has accrued but is unpaid as of the Termination
Date, (y) an amount equal to the Annual Base salary then in effect and (z) a prorated bonus, such prorated bonus being in an amount
equal to the target bonus for the Executive under the Company's annual incentive bonus plan in the year of the Change in Control,
multiplied by a fraction, the numerator of which is the number of completed days of employment during such performance period
and the denominator of which is the total number of days in the performance period ("the Change in Control Termination Prorated
Bonus") , and (ii) the Company shall pay on behalf of Executive the premium amounts for COBRA medical continuation coverage
under the Company's medical plan for a period of twelve (I 2) months after the Termination Date. If Executive becomes eligible
for and elects to receive benefits under an employee benefit plan, program, or arrangement of another employer during the twelve
(12) month period following the Termination Date, the Company's obligations to pay the premium cost of such benefits as set forth
above shall cease. Payment by the Company of any amounts set forth in this Section 7(d) shall be conditioned upon (i) Executive
executing a general release in favor of the Company (which release shall be reasonably satisfactory to the Company and shall exclude
the Company's obligations in this Section and its obligations in Section 3) and (ii) Executive's continued compliance with the
terms and conditions of Covenant Agreement. Notwithstanding anything contained in any Company annual incentive bonus plan.
Payment of any Change in Control Termination Prorated Bonus pursuant to this paragraph 7(d) shall be in complete and total satisfaction
of any obligation of the Company to Executive under such annual incentive bonus plan with respect to the performance period to
which the Change in Control Termination Prorated Bonus relates.

 

    	6

    	 

    

 

For
purposes hereof, a "Change of Control" shall have the meaning assigned to it in the Tigrent Inc. 2012 Incentive
Plan attached hereto as Appendix A.

 

(e)            Termination
Upon Demand of RDOC. If the Executive's employment with the Company is terminated by the Board, other than for Cause or as
the result of a Change in Control, within twelve (12) months of a demand for such termination by Rich Dad Operating Company, LLC
("RDOC") or any substitute Rich Dad entity or Robert or Kim Kiyosaki and RDOC notifies the Company that RDOC desires
to remove, with our without cause, the Executive as RDOC's Licensor Designee to the Board as provided for Article
VIII of that certain Rich Dad Operating Company, LLC License Agreement
by and between RDOC and the Company having an effective date of September 1, 2013 (or such other agreement between RDOC and the
Company that permits RDOC to designate an individual to sit on the Board) then the Company shall pay to Executive (i) an amount
equal to the Base Annual Salary in effect at the end of the Employment Term payable as follows (aa) a lump sum of $150,000 payable
upon the expiration of the seven (7) day revocation period of the general release delivered
by the Executive pursuant to this paragraph (the "Release Delivery Date") and (bb) the balance amortized over
a six (6) month period commencing on the Release Delivery Date and payable in equal installments
at least bi-weekly or otherwise in accordance with customary payroll practices for senior executives of the Company, and, as severance
compensation, (ii) a Prorated Termination Bonus calculated in accordance with the formula set forth in Section 7(c) of this Agreement,
likewise payable in equal installments over a six (6) month period commencing on the Release Delivery Date. Payment by the Company
of any amounts set forth in this Section 7(e), shall be conditioned upon (i) Executive executing a general release in favor
of the Company (which release shall be reasonably satisfactory to the Company and shall exclude the Company's obligations in this
Section and its obligations in Section 3, and (ii) Executive's continued compliance with the terms and conditions of the Covenant
Agreement. Notwithstanding anything contained in any Company annual incentive bonus plan, payment of any Prorated Termination
Bonus pursuant to this paragraph 7(e) shall be in complete and total satisfaction of any obligation of the Company to Executive
under such annual incentive bonus plan with respect to the performance period to which the Prorated Termination Bonus relates.
The Prorated Termination Bonus shall be paid to Executive in accordance with the provisions of Section 3 above.

 

(f)              Equity
Grants. Upon the termination of employment of the Executive for any reason, all awards of common stock in the Company or other
awards that are valued in whole or in part by reference to, or otherwise based on the common stock of the company, including,
but not limited to, stock options, restricted stock or restricted stock units, stock appreciation rights, and performance shares
or performance units, previously made to the Executive shall be governed by the respective terms of such awards and any agreements
entered into between the Company and the Executive with respect to such awards, notwithstanding anything in this Agreement to
the contrary.

 

    	7

    	 

    

 

(g)             If
the Executive's employment with the Company is terminated under either Section 7(c) or Section 7(d), Executive shall have
the option, exercisable upon not more than seven (7) days written notice to the Company after
the date of such termination, to purchase any such Company-owned vehicle made available for the business use of executives of
the Company while in Cape Coral, FL at an all cash price equ.al to the lesser of (i) the value of such vehicle as reflected
on the books of the Company on the date of such termination or (ii) its fair market value. Any such sale shall close within twenty
(20) days after the date of termination.

 

(h)             No
Other Amounts. Executive hereby agrees that except as expressly provided in this
Agreement (including any benefits expressly referenced herein as being generally available to Executive), no salary, bonus,
benefits, severance, or other compensation of any kind, nature, or amount shall be payable to Executive and except as
expressly provided herein, Executive hereby irrevocably waives any claim for salary, bonus, benefits, severance, or other
compensation.

 

8.             Insurance.
Executive agrees that the Company may procure insurance on the life of Executive, in such amounts as the Company may in its
discretion determine, and with the Company named as the beneficiary under the policy or policies. Executive agrees that upon request
from the Company he will submit to a physical examination and will execute such applications and other documents as may be reasonably
required for the procurement of such insurance.

 

9.             Restrictive
Covenants. Executive agrees to execute the Confidentiality, Non-Compete and Non-Solicitation Agreement (attached hereto as
Appendix B) ("Covenant Agreement") contemporaneously with the execution of this Agreement and agrees to comply with
the Covenant Agreement. The restrictions provided for in the Covenant Agreement shall survive the termination of this Agreement
and the termination of Executive's employment with the Company.

 

10.           Acceptance
by Executive, Executive accepts all of the terms and provisions of this Agreement and agrees to perform all of the
covenants on his part to be performed hereunder. The Company accepts all of the terms and provisions of this Agreement and
agrees to perform all of the covenants on its part to be performed hereunder.

 

11.           Equitable
Remedies. Executive acknowledges that he has been employed for his unique talents and that his leaving the employ of the Company
would seriously hamper the business of the Company and the parties acknowledge that any violation or breach of this Agreement,
including, but not limited to, the Covenant Agreement, will cause the non-breaching party to suffer irreparable damage. The parties
hereby expressly agree that the non-breaching party shall be entitled as a matter of right to injunctive or other equitable relief,
in addition to all other remedies permitted by law, to prevent a breach or violation by the other party and to secure enforcement
of the provisions of this Agreement, including, but not limited to, Sections 9 or 10 hereof. Resort to such equitable relief,
however, shall not constitute a waiver of any other rights or remedies which the non-breaching party may have.

 

    	8

    	 

    

 

12.          
Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto and there are no other terms
other than those contained herein. No variation hereof shall be deemed valid unless in writing and signed by the parties hereto
and no discharge of the terms hereof shall be deemed valid unless by full performance of the parties hereto or by a writing signed
by the parties hereto. No waiver by any party of any breach by the other party of any provision or condition of this agreement
by it to be performed shall be deemed a waiver of a breach of a similar or dissimilar provision or condition at the same time
or any prior or subsequent time.

 

13.           Severability.
In case any provision in this agreement shall be declared invalid, illegal or unenforceable by any court of competent jurisdiction,
the validity and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

14.           Notices.
All notices, requests, demands and other communications provided for by this agreement ("Notices") shall
be in writing and shall be deemed to have been given and to have been effective and deemed received at the time when hand delivered
or delivered by Federal Express or other recognized overnight courier delivery service, such Notices to be addressed to the addresses
of the respective parties stated below or to such changed addresses as such parties may fix by Notice given as aforesaid:

 

	To
    the Company	 	Tigrent
        Inc. Board of Directors

        Attn:
        Chairman 

        1612
        E. Cape Coral Parkway

        Cape Coral, FL 33904
	 
	 	 	 	 
		with a copy
    to:	Tigrent
        Inc. 

        Attn:
        General Counsel 

        1612
        E. Cape Coral Parkway

        Cape Coral, FL 33904
	 
	 	 	 	 
	To Executive	 	Anthony C. Humpage	 
	 	 		 
	 	 		 
	 	 	 	 
		with a copy
    to:		 
	 	 		 
	 	 	 	 

 

provided,
however, that any Notice of change of address shall be effective only upon receipt.

 

    	9

    	 

    

 

15.           Successors
and Assigns. This agreement is personal in its nature and neither of the parties
hereto shall, without the consent of the other, assign or transfer this agreement or any rights or obligations
hereunder (except for an assignment or transfer by the Company to a successor as contemplated by the following proviso);
provided, however, that the provisions hereof shall inure to the benefit of, and be binding upon, any successor of the
Company, whether by merger, consolidation, transfer of all or substantially all of the assets of the Company, or otherwise,
and upon Executive, his heirs, executors, administrators, and legal representatives.

 

16.            Governing
Law. This agreement and its validity, construction and performance shall be governed in all respects by the internal laws
of the State of Florida without giving effect to any principles of conflict of laws.

 

17.            Headings.
The headings in this Agreement are for convenience of reference only and shall not control or affect the meaning or
construction of this Agreement.

 

18.            Pronouns.
All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as
the context may require.

 

19.            Number
and Gender. Words used in this Agreement, regardless of the number and gender specifically used, shall be deemed and
construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the
context indicates is appropriate.

 

20.           
Construction. The parties hereto and their respective legal counsel participated in the preparation of this Agreement;
therefore, this agreement shall be construed neither against nor in favor of any of the parties hereto, but rather in accordance
with the fair meaning thereof.

 

2l
..           
Enforcement. Should it become necessary for any party to institute legal action to enforce the terms and conditions
of this Agreement, the successful party will be awarded reasonable attorneys' fees at all trial and appellate levels, and in insolvency,
bankruptcy and regulatory proceedings, and all related expenses and costs. Any suit, action or proceeding with respect to this
agreement shall be brought in the courts of Lee County in the State of Florida or in the U.S. District Court for the Central District
of Florida. The parties hereto hereby accept the exclusive jurisdiction of those courts for the purpose of any such suit, action,
or proceeding.

 

Venue
for any such action, in addition to any other venue permitted by statute, will be Lee County, Florida. The parties hereto hereby
irrevocably waive, to the fullest extent permitted by law, any objection that any of them may now or hereafter have to the laying
of venue of any suit, action or proceeding arising out of or relating to this agreement or any judgment entered by any court in
respect thereof brought in Lee County, Florida, and hereby further irrevocably waive any claim that any suit, action or proceeding
brought in Lee County, Florida has been brought in an inconvenient forum.

 

    	10

    	 

    

 

22.           
No Third-Party Beneficiaries. No person shall be deemed to possess any third-party beneficiary right pursuant to this Agreement.
It is the intent of the parties hereto that no direct benefit to any third party is intended or implied by the execution of this
Agreement.

        
 

23.           
Counterparts. This agreement may be executed in one or more electronic counterparts, each of which will be deemed an original
and all of which together will constitute one and the same instrument.

       
 

IN
WITNESS WHEREOF, the parties hereto have hereunder set their hands on the day and year first written above.

 

	 	TIGRENT INC.
	 	a Colorado Corporation
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	/s/ Anthony
    C. Humpage
	 	 	Anthony C. Humpage

 

    	11

    	 

    

 

 

Appendix
A

 

(2012
Incentive Plan)

 

 

 

 

    	

    	 

    

  

Appendix
B

 

(Confidentiality,
Non-Compete and Non-Solicitation Agreement)

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