Document:

Exhibit 10.1

 

STOCK PURCHASE AND
OPTION AGREEMENT

 

THIS STOCK PURCHASE AND
OPTION AGREEMENT (this “Agreement”), dated as of October 15, 2021 (the “Effective Date”), is entered
into by and between Legacy Education Alliance, Inc. (“Issuer” or “Company”), on the one hand, and NCW,
LLC (“Buyer”), on the other hand.

 

RECITALS

 

WHEREAS, on the date
hereof, the Company has 200,000,000 shares of Common Stock authorized at a par value of $0.0001;

 

WHEREAS, on the date
hereof, the Company has 140,000,000 shares of unissued shares of Common Stock not otherwise pledged as collateral or otherwise encumbered;

 

WHEREAS, on the date
hereof, the Buyer intends to purchase up to $7,000,000 shares of Common Stock from the Company through the exercise of the Option over
a period of two years;

 

WHEREAS, Company desires
to sell to Buyer, and Buyer desires to purchase from Company, (a) an aggregate of up to 20,000,000 shares of Common Stock (the “Purchase
Shares”) and (b) an irrevocable option (the “Option”) to purchase an aggregate of 120,000,000 shares
of Common Stock (the “Option Shares” and, together with the Purchase Shares, the “Shares”), in each
case on the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration
of the mutual representations, warranties and covenants contained in this Agreement and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1. PURCHASE AND SALE OF SHARES; GRANT OF
OPTION

 

1.1 Purchase
and Sale of the Shares; Grant of Option. Pursuant to the terms and subject to the conditions of this Agreement, (a) Company hereby
sells, transfers, conveys and assigns to Buyer, and Buyer hereby purchases from Company, all of Company’s right, title and interest
in the Purchase Shares in exchange for a payment of $0.0001 per Purchase Share for a total aggregate consideration of $2000.00 (the “Stock
Purchase Price”) and (b) subject to Section 1.7, Company hereby grants to Buyer the Option in exchange
for a payment of $0.0001 per Option Share (the “Per-Share Option Fee”) for a total aggregate consideration of $ (the
“Option Fee” and, together with the Stock Purchase Price, the “Purchase Price”). For the avoidance
of doubt, the Option Fee shall not be refundable.

 

1.2 Closing.
The closing of the transaction contemplated herein (the “Closing”) shall take place on October 15, 2021 (the “Closing
Date”), at 10:00 a.m. Eastern Time, at the offices of the Company or at such other time or place as the parties may mutually
agree in writing. At the Closing, Company shall transfer the Purchase Shares by delivering to Buyer certificates representing the Purchase
Shares duly endorsed for transfer, and Buyer shall pay Company the Purchase Price by check or by wire transfer in immediately available
funds to an account or accounts of Company specified in advance of the Closing Date.

 

1.3 Term and
Exercise of Option.

 

(a) Term of
Option. The term of the Option (the “Option Term”) shall commence on the Effective Date and shall terminate on
the two-year anniversary thereafter.

 

(b) Exercise
of Option. The Option may be exercised in part or in full at once or from time to time, for all the Option Shares or any portion thereof,
at the discretion of Buyer at any time during the Option Term by providing written notice of exercise and payment of the Exercise Price
(as defined below) to Company.

 

(c) Exercise
Price. The exercise price payable upon full or partial exercise of the Option shall be equal to $0.05833 per Option Share (as may
be adjusted from time to time pursuant to Section 1.4) (the “Exercise Price”). The sum of the Exercise
Price and the Per-Share Option Fee is referred to herein as the “Option Cost.”

 

1.4 Adjustments.

 

(a) Adjustment
to Prevent Dilution. In the event of any change in the Company’s capital stock by reason of any stock dividend, split-up, reclassification,
recapitalization, combination, exchange or similar occurrence, the term “Option Shares” shall be deemed to refer to and include
the Option Shares as well as all such stock dividends and distributions and any shares into which or for which any or all of the Option
Shares may be changed or exchanged.

 

     

     

    

 

(b) Adjustment
in the Event of an Extraordinary Event.

 

(i) In the
event that an Extraordinary Event (as defined below) occurs during the Option Term and the Per Share Sale Price (as defined below) with
respect to such Extraordinary Event exceeds the Option Cost:

 

(A) with
respect to the Option Shares that Buyer acquired within the ninety (90) calendar days immediately preceding such Extraordinary Event,
Buyer shall pay to Company the product calculated by multiplying (X) the difference between the Per Share Sale Price
and the Option Cost by (Y) the aggregate number of such Option Shares; and

 

(B) with
respect to the Option Shares for which Buyer has not exercised the Option prior to such Extraordinary Event, the Exercise Price applicable
to such Option Shares shall be adjusted such that the Option Cost equals the Per Share Sale Price, provided that, in
case of an occurrence of the event described in clause (E) of paragraph (iv) below, the adjustment provided in Section 1.4(c) below
shall apply instead of the foregoing adjustment.

 

(ii) Other
than as specifically contemplated by paragraph (i) above, there shall be no adjustment to the Exercise Price as a result of an Extraordinary
Event, except by the mutual written agreement of the parties hereto.

 

(iii) The
payment contemplated by clause (A) of paragraph (i) above, if any, shall be made on the later of (A) the date that is five (5)
business days after consummation of the Extraordinary Event and (B) the date that is five (5) business days after the determination
of the Per Share Sale Price pursuant to paragraph (v) below, if such determination shall be necessary.

 

(iv) For
the purposes of this Section 1.4(b), “Extraordinary Event” shall mean and include each of the following:

 

(A) Except
as provided by paragraph (B) below, the acquisition (other than from the Company) by any person, entity or “group”, within
the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
(excluding, for this purpose, (1) the Company or its subsidiaries, or any executive benefit plan of the Company or its subsidiaries
which acquires beneficial ownership of voting securities of the Company and (2) Company), of beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of either the then outstanding shares of Common
Stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally in the election
of directors;

 

(B) reorganization,
merger or consolidation of the Company with any other person, entity or corporation, other than:

 

(1) a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into voting securities of another entity) more than fifty percent (50%) of
the combined voting power of the voting securities of the Company or such other entity outstanding immediately after such merger or consolidation,
or

 

(2) a merger
or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person acquires fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding voting securities;

 

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(C) complete
liquidation of the Company or sale or other disposition by the Company of all or substantially all of the Company’s assets (other
than, in each case, a liquidation, sale or disposition conducted in connection with or arising out of any insolvency or bankruptcy proceedings);

 

(D) sale
of all or substantially all of the Purchase Shares and the Option Shares then held by Buyer to a third party;

 

(E) payment
by the Company of dividends per share in excess of the Exercise Price; or

 

(F) redemption
or repurchase by the Company of more than 25,000,000 shares of Common Stock.

 

(v) For the
purposes of this Section 1.4(b), “Per Share Sale Price” shall mean the per share price at which an
Extraordinary Event is effected. For the avoidance of doubt, the “Per Share Sale Price” for the event described in clause (E)
of paragraph (iv) above shall be the aggregate amount of dividends paid with respect to each share of Common Stock. In the event
that the Per Share Sale Price cannot be readily ascertained (whether due to the fact that the consideration paid in the Extraordinary
Event involved unregistered securities or other non-cash assets, or otherwise), Company and Buyer shall engage in discussions to mutually
determine the Per Share Sale Price. If Company and Buyer are unable to mutually determine the Per Share Sale Price within two (2)
weeks of commencing such discussions, then they shall mutually appoint a reputable, independent valuation firm to determine the Per Share
Sale Price. If Company and Buyer are unable to mutually appoint a valuation firm within two (2) weeks of commencing discussions pertaining
to such appointment, they shall each appoint an independent valuation firm, who together shall appoint a third independent valuation firm,
which shall determine the Per Share Sale Price.

 

(c) Adjustment
in the Event of Dividends. The Exercise Price for all Option Shares for which Buyer has not exercised the Option shall be decreased
by an amount equal to any and all dividends declared by the Company during the Option Term, provided that the Exercise
Price for such Option Shares shall not be decreased below $0.05 as a result of any such dividends.

 

(d) Adjustment in
the Event of Market.

 

1.5 Registration Rights. The
Company hereby grants the following registration rights to holders of the Securities.  If the Company at any time proposes to
file a registration statement to register any of its securities under the 1933 Act for sale to the public, whether for its own account
or for the account of other security holders or both, except with respect to registration statements on Forms X-0, X-0 or another form
not available for registering other shares of Common Stock held by or purchasable by Buyer (“Registrable Securities”), provided
the Registrable Securities are not otherwise registered for resale by the Subscribers or Holder pursuant to an effective registration
statement or may be sold pursuant to Rule 144 without respect to volume limitations in which case they shall be deemed to no longer be
Registrable Securities, each such time it will give at least fifteen (15) days' prior written notice to the record holder of the Registrable
Securities of its intention so to do. Upon the written request of the holder, received by the Company within ten (10) days after the giving
of any such notice by the Company, to register any of the Registrable Securities not previously registered as permitted by the United
States Securities and Exchange Commission (“SEC”) Guidance for an offering to be made on a continuous basis pursuant to Rule
415, the Company will cause such Registrable Securities as to which registration shall have been so requested to be included with the
securities to be covered by the registration statement proposed to be filed by the Company, all to the extent required to permit the sale
or other disposition of the Registrable Securities so registered by the holder of such Registrable Securities (the “Company”
or “Sellers”).  Unless instructed in writing to the contrary, the Subscribers hereby automatically exercise the
registration rights granted in this Section 1.5.  The Company is hereby given the same rights and benefits as any other party
identified in such registration.   In the event that any registration pursuant to this Section 1.5 shall be, in whole or
in part, an underwritten public offering of common stock of the Company, the number of shares of Registrable Securities to be included
in such an underwriting may be reduced by the managing underwriter if and to the extent that the Company and the underwriter shall reasonably
be of the opinion that such inclusion would adversely affect the marketing of the securities to be sold by the Company therein; provided,
however, that the Company shall notify the Company in writing of any such reduction. Notwithstanding the foregoing provisions the Company
may withdraw or delay or suffer a delay of any registration statement referred to in this Section 1.5 without thereby incurring any liability
to the Company due to such withdrawal or delay. Notwithstanding anything to the contrary herein, in the event that the Commission, limits
the amount of Registrable Securities that may be sold by selling security holders in a particular Registration Statement, the Company
may scale back (i.e. remove) from such registration statement such number of Registrable Securities on behalf of all selling security
holders on a pro-rata basis based on the total number of Registrable Securities held by such selling security holder.

 

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1.6
Registration Procedures. If and whenever the Company is required by the provisions of Section 1.5 to effect the registration of
any Registrable Securities under the 1933 Act, the Company will, as expeditiously as possible: 

 

(i) subject
to the timelines provided in this Agreement, prepare and file with the Commission a registration statement required by Section 1.5, with
respect to such securities and use its best efforts to cause such registration statement to become and remain effective for the period
of the distribution contemplated thereby (determined as herein provided), promptly provide to the holders of the Registrable Securities
copies of all filings and Commission letters of comment and notify Subscribers (by telecopier and by e-mail addresses provided by Subscribers)
and __________ (by telecopier and by email to ___________) on or before the first business day thereafter that the
Company receives notice that (i) the Commission has no comments or no further comments on the Registration Statement, and (ii) the registration
statement has been declared;

 

(ii) prepare
and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith
as may be necessary to keep such registration statement effective until such registration statement has been effective for a period of
two (2) years, and comply with the provisions of the 1933 Act with respect to the disposition of all of the Registrable Securities covered
by such registration statement in accordance with the Sellers’ intended method of disposition set forth in such registration statement
for such period;

 

(iii) use
its commercially reasonable best efforts to register or qualify the Registrable Securities covered by such registration statement under
the securities or “blue sky” laws of New York and such jurisdictions as the Sellers shall request in writing, provided, however,
that the Company shall not for any such purpose be required to qualify generally to transact business as a foreign corporation in any
jurisdiction where it is not so qualified or to consent to general service of process in any such jurisdiction;

 

(iv) if
applicable, list the Registrable Securities covered by such registration statement with any securities exchange on which the Common Stock
of the Company is then listed;

 

(v) notify
the Subscribers within two hours of the Company’s becoming aware that a prospectus relating thereto is required to be delivered
under the 1933 Act, of the happening of any event of which the Company has knowledge as a result of which the prospectus contained in
such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required
to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing or which becomes
subject to a Commission, state or other governmental order suspending the effectiveness of the registration statement covering any of
the Registrable Securities;

 

(vi) provided
same would not be in violation of the provision of Regulation FD under the 1934 Act, make available for inspection by the Sellers,  and
any attorney, accountant or other agent retained by the Company or underwriter, all publicly available, non-confidential financial and
other records, pertinent corporate documents and properties of the Company, and cause the Company's officers, directors and employees
to supply all publicly available, non-confidential information reasonably requested by the seller, attorney, accountant or agent in connection
with such registration statement; and

 

(viii) provide
to the Sellers copies of the Registration Statement and amendments thereto prior to the filing thereof with the Commission.

 

1.7  144
Default.   In the event commencing six months after the Closing Date and ending twenty-four months thereafter, the
Buyer is not permitted to resell any of the Conversion Shares without any restrictive legend or if such sales are permitted but subject
to volume limitations or further restrictions on resale as a result of the unavailability to Buyer of Rule 144(b)(1)(i) under the 1933
Act or any successor rule (a “144 Default”), for any reason except for Buyer’s status as an Affiliate or “control
person” of the Company, or as a result of a change in current applicable securities laws, then the Company shall pay such Buyer
as liquidated damages and not as a penalty an amount equal to 10 percent (10%) for each thirty (30) days (or such lesser pro-rata amount
for any period less than thirty days) thereafter of the purchase price of the Conversion Shares subject to such 144 Default
during the pendency of the 144 Default. Liquidated Damages shall not be payable pursuant to this Section 11.2 in connection with Shares
for such times as such Shares may be sold by the holder thereof without volume or other restrictions pursuant to Section 144(b)(1)(i)
of the 1933 Act or pursuant to an effective registration statement.

 

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1.8 Transfer of Option.
Buyer may transfer the Option or any remaining portion thereof in his sole discretion, provided that, if the consideration
received by Buyer with respect to such transfer exceeds $0.03 per Option Share, Buyer shall pay to Company the aggregate amount of the
excess consideration received for such transfer within five (5) business days after receipt of such consideration.

 

1.9 Non-Transferability
of Option Shares. Absent the prior written consent of Buyer and except as provided in Section 1.8 below, Company
shall not, during the Option Term, (a) sell, convey, transfer, pledge, encumber, hypothecate, assign or otherwise dispose of (including
by gift) any of the Option Shares, (b) deposit the Option Shares into a voting trust, enter into any voting arrangement or understanding,
or otherwise transfer the right to vote the Option Shares, (c) issue any option, right of first refusal or any other right with respect
to the Option Shares, (d) solicit any proposal to acquire the Option Shares, (e) disclose any non-public information about the
Company including proprietary and confidential information, or (f) enter into any agreement, or option or other contingent commitment,
to do any of the foregoing. During the Option Term, Company shall in good faith take any action reasonably requested by Buyer to preserve
or exercise his rights under the Option. Any award to Buyer for Company’s breach of this Section 1.6 will be limited to monetary
damages and will not include an injunction or other equitable remedy other than a direction for Company to pay Buyer a monetary amount.

 

1.10 Compliance
with 5/50 Rule. Notwithstanding anything contained herein, (a) Buyer shall not be permitted to exercise any portion of the Option
if such exercise would cause the Company to violate the provisions of Sections 856(h)(2) and 542(a)(2) of the Internal Revenue Code
of 1986, as amended, and the regulations promulgated thereunder (commonly referred to as the “5/50 Rule.

 

1.12
Expenses.  All expenses incurred by the Company in complying with Section 1.5, including, without limitation, all registration
and filing fees, printing expenses, fees and disbursements of counsel and independent public accountants for the Company, fees and expenses
(including reasonable counsel fees) incurred in connection with complying with state securities or “blue sky” laws, fees
of the National Association of Securities Dealers, Inc., transfer taxes, fees of transfer agents and registrars, costs of insurance and
fee of one counsel for all Sellers are called “Registration Expenses.” All underwriting discounts and selling commissions
applicable to the sale of Registrable Securities, including any fees and disbursements of any additional counsel to the Company, are
called "Selling Expenses."  The Company will pay all Registration Expenses in connection with the registration
statement under Section 1.5.  Selling Expenses in connection with each registration statement under Section 1.5 shall be borne
by the Company.

 

1.13
Delivery of Unlegended Shares.  

 

(a) Within
ten (10) business days (such third business day being the “Unlegended Shares Delivery Date”) after the business day on which
the Company has received (i) a representation that the prospectus delivery requirements, or the requirements of Rule 144, as applicable
and if required, have been satisfied, and (ii) the original share certificates representing the shares of Common Stock that have been
sold, and (iii) in the case of sales under Rule 144, customary representation letters of the Subscriber and/or Subscriber’s broker
regarding compliance with the requirements of Rule 144, the Company at its expense, (y) shall deliver, and shall cause legal counsel selected
by the Company to deliver to its transfer agent (with copies to Subscriber) an appropriate instruction and opinion of such counsel, directing
the delivery of shares of Common Stock without any legends including the legend set forth in Section 4 above, reissuable pursuant to any
effective and current Registration Statement described in Section 1.13 of this Agreement or pursuant to Rule 144 under the 1933 Act (the
“Unlegended Shares”); and (z) cause the transmission of the certificates representing the Unlegended Shares together with
a legended certificate representing the balance of the submitted Shares certificate, if any, to the Subscriber at the address specified
in the notice of sale, via express courier, by electronic transfer or otherwise on or before the Unlegended Shares Delivery Date.  

 

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(b) In
lieu of delivering physical certificates representing the Unlegended Shares, if the Company’s transfer agent is participating in
the Depository Trust Company (“DTC”) Fast Automated Securities Transfer program, upon request of a Subscriber, so long as
the certificates therefor do not bear a legend and the Subscriber is not obligated to return such certificate for the placement of a legend
thereon, the Company must cause its transfer agent to electronically transmit the Unlegended Shares by crediting the account of Subscriber’s
prime Broker with DTC through its Deposit Withdrawal Agent Commission system.  Such delivery must be made on or before the Unlegended
Shares Delivery Date.

 

(c) The
Company understands that a delay in the delivery of the Unlegended Shares pursuant to Section 1.14 hereof after the Unlegended Shares
Delivery Date could result in economic loss to Subscriber.  As compensation to Buyer for such loss, the Company agrees to pay
late payment fees (as liquidated damages and not as a penalty) to the Buyer for late delivery of Unlegended Shares in the amount of $100
per business day after the Delivery Date for each $10,000 of Purchase Price of the Unlegended Shares subject to the delivery default.  If
during any 360 day period, the Company fails to deliver Unlegended Shares as required by this Section 1.13 for an aggregate of thirty
(30) days, then each Subscriber or assignee holding Securities subject to such default may, at its option, require the Company to redeem
all or any portion of the Shares subject to such default at a price per share equal to 120% of the Purchase Price of such Shares (“Unlegended
Redemption Amount”).

 

(e) In
the event a Subscriber shall request delivery of Unlegended Shares as described in Section 1.14 and the Company is required to deliver
such Unlegended Shares pursuant to Section 1.13, the Company may not refuse to deliver Unlegended Shares based on any claim that such
Subscriber or any one associated or affiliated with such Subscriber has been engaged in any violation of law, or for any other reason,
unless, an injunction or temporary restraining order from a court, on notice, restraining and or enjoining delivery of such Unlegended
Shares shall have been sought and obtained by the Company or at the Company’s request or with the Company’s assistance, and
the Company has posted a surety bond for the benefit of such Subscriber in the amount of 120% of the amount of the aggregate purchase
price of the Common Stock which are subject to the injunction or temporary restraining order, which bond shall remain in effect until
the completion of arbitration/litigation of the dispute and the proceeds of which shall be payable to such Subscriber to the extent Subscriber
obtains judgment in Subscriber’s favor.

 

1.15
Favored Nations Provision. Other than in connection with (i) full or partial consideration in connection with
a strategic merger, acquisition, consolidation or purchase of substantially all of the securities or assets of corporation or other entity
provided such issuances are not for the purpose of raising capital which holders of such securities or debt are not at any time granted
registration rights, (ii) the Company’s issuance of securities in connection with strategic license agreements and other partnering
arrangements so long as such issuances are not for the purpose of raising capital and which holders of such securities or debt are not
at any time granted registration rights, (iii) as a result of the conversion of Notes which are granted or issued pursuant to this Agreement
or that have been issued prior to the Closing Date, the issuance of which has been disclosed in a report filed not less than five (5)
days prior to the Closing Date, and (iv) the payment of any interest on prior outstanding notes and/or liquidated damages contemplated
by prior agreements (collectively the foregoing are “Excepted Issuances”), if at any time the Buyer owns any Common Stock
from the conversion of notes or exercise of warrants, the Company shall agree to or issue (the “Lower Price Issuance”) any
Common Stock or securities convertible into or exercisable for shares of Common Stock (or modify any of the foregoing which may be outstanding)
to any person or entity at a price per share or conversion or exercise price per share which shall be less than the Conversion Price
in effect at such time, or if less than the warrant exercise price in effect at such time, without the consent of the Buyer, then the
Company shall issue, for each such occasion, additional shares of Common Stock to the Buyer respecting conversion shares and warrant
shares that are then still owned by the Buyer at the time of the Lower Price Issuance so that the average per share purchase price of
the Shares or warrant shares purchased and owned by the Buyer on the date of the Lower Price Issuance is equal to such other lower price
per share.  Other than in connection with Excepted Issuances, if at any time notes or warrants are outstanding, if the Company
shall agree to a Lower Price Issuance, then the Conversion Price and Warrant exercise price shall automatically be reduced to such other
lower price. 

 

1.16 Repurchase and
Buyback of the Shares; Repurchase of Option.

 

(a) For
a period of 15 months from the execution of this Agreement, the Company shall have the right, subject to Sections 10b-5 and 10b-18 of
the Exchange Act (the “Act”), and upon the majority vote of the Board of Directors of the Company, to buyback the Purchase
Shares in whole or part, at the greater of $.15 per share or the Volume Weighted Average Price (“VWAP”) per share based on
the trailing 10 trading days of the Common Equity of the Company (“VWAP Price”). Such Buyback shall be in cash by certified
check or wire transfer. The expenses associated with the transfer of Purchase Shares, including fees and costs due to the transfer agent
shall be paid by the Company.

 

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(b) For a period of
12 months from the execution of this Agreement, the Company shall have the right, subject to the applicable provisions of the Act and
upon the majority vote of the Board of Directors, to buyback the Option in whole or part, at the greater of $.15 per share or the VWAP
per shares based on the VWAP Price.

 

(c) Nothing contained
in this Section 1.16 shall prevent the Buyer from Selling shares or Exercising the Option. The Company’s rights shall apply exclusively
to Shares or unexercised Options held by the Buyer.

 

2. REPRESENTATIONS AND WARRANTIES OF SELLER

 

Company hereby represents
and warrants to Buyer as follows:

 

2.1 Ownership;
Transfer. Company is the current sole owner of all right, title and interest in the Shares and holds the Shares free and clear of
all liabilities, liens, encumbrances, pledges, voting trusts or shareholder agreements, restrictions on transfer or other charges (“Liens”).
Upon transfer of the Shares from Company to Buyer, Buyer will acquire good and marketable title to the Shares, free and clear of any Liens.

 

2.2 Authorization.
Company has the right, power and legal capacity and authority to enter into and perform his obligations under this Agreement. This Agreement
has been duly executed and delivered by Company and constitutes Company’s valid and binding obligation, enforceable in accordance
with its terms.

 

2.3 Sufficiency
of Information. Company was a previously a director and officer of the Company and remains generally familiar with the business and
financial condition of the Company. Company is satisfied by reason of his own knowledge and investigation, and not in reliance on any
express or implied representation of the Company or any of its other directors, officers, agents or affiliates, including Buyer, as to
the sale of the Shares at the price(s) specified herein. Company acknowledges that he has access to and has received sufficient information
regarding the Company to evaluate fully the merits of his decision to sell the Shares to Buyer, including having the opportunity to ask
any questions and receive answers about the Company’s operations, results of operations, financial condition and prospects and such
other information as Company deems appropriate. Company has carefully read this Agreement, has had an opportunity to consult with his
attorney and financial advisors in connection with the execution thereof and fully understands the Agreement’s final and binding
effect.

 

2.4 Sophisticated
Company. Company has such knowledge, sophistication and experience in business and financial matters that he is capable of evaluating
the merits and risks of the transactions contemplated by this Agreement. Company acknowledges that the Company has made available to Company
and has offered to make available to Company certain information which is or may be material, non-public, confidential or proprietary
in nature (“Confidential Information”). Company further acknowledges that he has elected not to receive any of the
Confidential Information, even though this Confidential Information may be material to Company’s decision to enter into this Agreement.

 

3. REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer hereby represents
and warrants to Company as follows:

 

3.1 Authorization.
Buyer has the right, power and legal capacity and authority to enter into and perform his obligations under this Agreement and that this
Agreement has been duly executed and delivered by Buyer and constitutes Buyer’s valid and binding obligation, enforceable in accordance
with its terms.

 

3.2 Capacity.
Buyer is entering into this Agreement in his capacity as an individual and not as an officer, director, agent or representative of the
Company or any third party. The Company is neither a party to this Agreement nor a third-party beneficiary.

 

3.3 Sufficiency of Information.
Buyer is satisfied by reason of his own knowledge and investigation, and not in reliance on any express or implied representation of the
Company or any of its other directors, officers, agents or affiliates, as to the sale of the Shares at the price(s) specified herein.
Buyer acknowledges that it has access to and has received sufficient information regarding the Company to evaluate fully the merits of
his decision to purchase the Shares from the Company, including having the opportunity to ask any questions and receive answers about
the Company’s operations, results of operations, financial condition and prospects and such other information as Buyer deems appropriate.
Buyer has carefully read this Agreement, has had an opportunity to consult with its attorney and financial advisors in connection with
the execution thereof and fully understands the Agreement’s final and binding effect.

 

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3.4 Sophisticated Investor.
Buyer has such knowledge, sophistication and experience in business and financial matters that it is capable of evaluating the merits
and risks of the transactions contemplated by this Agreement. Buyer acknowledges that the Company has made available to Buyer and has
offered to make available to Buyer certain information which is or may be material, non-public, confidential or proprietary in nature
(“Confidential Information”). Company further acknowledges that he has elected not to receive any of the Confidential Information,
even though this Confidential Information may be material to Company’s decision to enter into this Agreement.

 

4. CONDITIONS 

 

4.1 Conditions
to Obligations of Buyer. The obligation of Buyer to consummate the transaction contemplated herein shall be subject to the prior approval
by the Company’s board of directors, at or prior to Closing, permitting Buyer to increase his permitted beneficial ownership enough
to allow the purchase of some or all of the Shares.

 

4.2 Condition
to Obligations of the Company. The obligations of the Company to consummate the transaction contemplated herein shall be conditioned
on the receipt by the Company from Legacy Tech Partners, LLC (“LTP”) of the $300,000 due and payable by LTP to the Company
under that certain 10% Senior Secured Convertible Debenture dated March 8, 2021 as follows: (i) $100,000 not later than 4:00 p.m. ET on
October 15, 2021 and (ii) $100,000 not later than 4:00 p.m. ET on November 15, 2021 and (iii) $100,000 not later than 4:00 p.m. ET on
December 15, 2021

 

4.3 Obligation
to Register Shares. The obligations of the Buyer to fund according to Section 4.2 shall be conditioned on the Company filing a registration
statement in accordance with Section 1.5 of this Agreement, with the SEC for not less than the total authorized shares of the Company
on or before November 1, 2021.

 

5. GENERAL PROVISIONS

 

5.1 Entire Agreement.
This Agreement contains the entire agreement between the parties hereto with respect to the subject matter of this Agreement and supersedes
any and all prior or contemporaneous agreements and discussions, whether written or oral, express or implied.

 

5.2 Further Assurances.
Each party hereto shall execute and deliver such further instruments and take such further actions as the other party hereto may reasonably
request in order to carry out the intent of this Agreement.

 

5.3 Validity.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, each of which shall remain in full force and effect and in lieu of such invalid or unenforceable provision there shall
be automatically added as part of this Agreement a valid and enforceable provision as similar in terms to the invalid or unenforceable
provision as possible, provided that this Agreement as amended, (i) reflects the intent of the parties hereto, and (ii) does
not change the bargained for consideration or benefits to be received by each party hereto.

 

5.4 Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada without
reference to conflicts of laws principles.

 

5.5 Section Headings.
The section headings contained herein are for purposes of convenience only, and shall not be deemed to constitute a part of this Agreement
or to affect the meaning or interpretation of this Agreement in any way.

 

5.6 Waivers,
Amendments. No waiver or amendment of this Agreement shall be effective unless such waiver or amendment is in writing and has been
executed by the parties intending to be bound.

 

5.7 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

[Remainder of Page
Intentionally Left Blank. Signature Page Follows.]

 

    8

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the date first above written.

 

	LEGACY EDUCATION ALLIANCE, INC.	 
	 	 	 
	By: 	/s/ Michel Botbol	 
	Name:	Michel Botbol	 
	Title:	Chief Executive Officer	 
	 	 	 
	NCW, LLC.	 
	 	 	 
	By:	/s/ S. Guttman	 
	Name: 	Samuel Guttman	 
	Title:	Manager	 

 

 

9Exhibit 10.1

 

COOPERATION AGREEMENT

 

This COOPERATION AGREEMENT
(this “Agreement”) is made as of this 14th day of October 2021 (the “Effective Date”),
by and among David L. Kanen, Philotimo Fund, LP (“Philotimo”), Philotimo Focused Growth and Income Fund (“Philotimo
Fund”), Kanen Wealth Management LLC (“Kanen Wealth Management”; and collectively with Mr. Kanen,
Philotimo, Philotimo Fund and their respective affiliates, collectively, the “Kanen Group”, and each individually,
a “member” of the Kanen Group), and 1847 Goedeker Inc., a Delaware corporation (the “Company”).

 

WHEREAS, as of the
date hereof, the Kanen Group, directly and indirectly, beneficially owns 6,209,557 shares of common stock, $0.0001 par value, of the Company
(the “Common Stock”), which represent approximately 5.8% of the issued and outstanding shares of Common Stock;

 

WHEREAS, Philotimo
submitted a letter to the Company on September 9, 2021 (the “Nomination Letter”) nominating a slate of director
candidates to be elected to the Company’s board of directors (the “Board”) at the 2021 annual meeting
of stockholders of the Company (the “2021 Annual Meeting”); and

 

WHEREAS, as of the date hereof, the Company
and the Kanen Group have determined to come to an agreement with respect to the composition of the Board and certain other matters, as
provided in this Agreement.

 

NOW, THEREFORE, in
consideration of and reliance upon the mutual premises, covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1. Board
Matters; Board Appointments; 2021 Annual Meeting.

 

(a) The
Company agrees that the Board and all applicable committees of the Board shall, as promptly as practicable following the Effective Date,
take all necessary actions to (i) appoint two (2) directors selected by the Kanen Group from a list comprised of five (5) candidates identified
by the Company in good faith and who are not affiliated with the Kanen Group (each appointed director, a “New Director”
and together, the “New Directors” and such process of selection and appointment of the New Directors, the “New
Director Identification Process”); provided, however, that (A) the Kanen Group shall be provided the final
list of five (5) candidates immediately following the execution of this Agreement, and (B) the Kanen Group shall select the New Directors
and the Board and all applicable committees of the Board shall appoint the New Directors to the Board no later than two (2) business days
after the execution of this Agreement, (ii) nominate the New Directors for election to the Board at the 2021 Annual Meeting and (iii)
recommend, support and solicit proxies for the election of the New Directors at the 2021 Annual Meeting in the same manner and with the
same efforts as the Board and all applicable committees of the Board recommend, support and solicit proxies for the election of the Company’s
other director nominees at the 2021 Annual Meeting.

 

      

     

    

 

(b) The
New Directors shall fill the vacancies created by the resignations of Douglas T. Moore and Paul Froning. The Company hereby represents
that Mr. Froning has submitted a letter of resignation to the Board, which is effective immediately, and the Board confirms that the resignation
of Mr. Froning was the result of the sole unencumbered and uncoerced discretion of Mr. Froning. The Board will neither include Mr. Moore
nor Mr. Froning in its slate of nominees, nor solicit proxies for their election to serve as directors of the Company at the 2021 Annual
Meeting.

 

(c) As
a condition to the New Directors’ appointment to the Board and the subsequent nomination for election to the Board in connection
with the 2021 Annual Meeting, the Kanen Group acknowledges that each New Director shall agree to participate in the Company’s customary
procedures for new director candidates, including but not limited to, providing the Company a fully completed and executed copy of the
Company’s standard director and officer questionnaire, interviewing with the Board’s Nominating and Corporate Governance Committee
and such other reasonable and customary director onboarding documentation as required by the Company in connection with their appointment
and election as new Board members. Any Replacement Director (as defined below) identified by the Kanen Group in accordance with Section
1(f) to replace a New Director shall also promptly (but in any event prior to being appointed to the Board in accordance with this Agreement)
submit to the Company a fully completed and executed copy of the Company’s standard director and officer questionnaire and such
other reasonable and customary director onboarding documentation required by the Company in connection with the appointment or election
of new Board members.

 

(d) The
Company hereby acknowledges and agrees that effective immediately upon their appointment to the Board as directors of the Company in accordance
with Section 1(a), the New Directors shall be eligible for membership on all current committees and any new committee of the Board formed
after the Effective Date and, consistent with Company practice, each New Director shall have the right to participate in discussions on
any such committee, regardless of his or her membership thereon.

 

(e) The
Company agrees that the New Directors shall receive (i) the same benefits of director and officer insurance, and any indemnity arrangements
available generally to all directors then serving on the Board, (ii) the same compensation for service as a director as the compensation
received by other non-employee directors then serving on the Board and as established by the Compensation Committee, subject to any modification
of the amount and form of such compensation as hereafter may be determined by the Compensation Committee, and (iii) such other health,
welfare and other similar benefits on the same basis as are available to all other non-employee directors then serving on the Board.

 

    2

     

    

 

(f) Until
the Termination Date (as defined below), if a New Director (or any Replacement Director (as defined below)) is unable or unwilling to
serve as a director or ceases to be a director for any reason, then the Kanen Group shall have the right to select a replacement director
following the New Director Identification Process as set forth in Section 1(a) above (each, a “Replacement Director”
and such right, the “Replacement Right”); provided, that the Company shall have a reasonable amount of
time to conduct the New Director Identification Process for such Replacement Director; provided, further, that if at the
time such Replacement Right is invoked, the Kanen Group’s aggregate beneficial ownership of the Company’s Common Stock is
less than the lesser of (i) 3.0% of the Company’s then-outstanding Common Stock and (ii) 3,191,620 shares of Common Stock (subject
to adjustment for stock splits, reclassifications, combinations and similar adjustments), then the Kanen Group shall have no Replacement
Rights. If the Board does not appoint such Replacement Director selected by the Kanen Group to the Board consistent with the terms of
this Agreement, the Kanen Group shall be permitted to continue to select substitute nominee(s) pursuant to the New Director Identification
Process (provided that, for the avoidance of doubt, the Company shall update and supplement such list of five (5) candidates so that the
Kanen Group has a reasonable amount of time to evaluate a full list of five (5) candidates during the New Director Identification Process)
until a Replacement Director is elected to the Board. The Board and all applicable committees of the Board shall take all necessary actions
to appoint such Replacement Director(s) to any applicable committee(s) of the Board of which the replaced New Director(s) or Replacement
Director(s) was a member, as applicable.

 

2. Term
and Termination. The terms and conditions of this Agreement are effective as of the Effective Date and shall remain in effect until
the date that is thirty (30) calendar days prior to the beginning of the Company’s advance notice period for stockholders to submit
director nominations for the 2022 annual meeting of stockholders; provided, however, that any party (the “Non-Breaching
Party”) may earlier terminate this Agreement if the other party commits a material breach of this Agreement (the “Breaching
Party”) that is not cured within fifteen (15) days after the Breaching Party’s receipt of written notice thereof from
the Non-Breaching Party or, if impossible to cure within fifteen (15) days, which the Breaching Party has not taken any substantive action
to cure within such fifteen (15) day period. The date on which this Agreement is terminated is referred to herein as the “Termination
Date.”

 

3. Standstill.
Each member of the Kanen Group agrees that until the Termination Date, it shall not, and shall cause its Affiliates and Associates (as
such terms are defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
and its and their respective principals, directors, general partners, members, officers, employees, and agents and representatives acting
on their behalf (collectively, the “Kanen Affiliates”) not to, directly or indirectly, without the prior express
written invitation or authorization by the Board:

 

(a) make,
engage in or in any way participate in any “solicitation” (as such term is used in the proxy rules of the Securities and Exchange
Commission (the “SEC”), but without regard to the exclusion set forth in Rule 14a-1(1)(2)(iv) under the Exchange
Act) of proxies, consents or voting authorizations with respect to the election or removal of directors of the Company or any other matter
or proposal in respect of which the Company’s stockholders are requested or required to vote on, or become a “participant”
(as such term is used in the proxy rules of the SEC) or assist any “participant” in any such solicitation of proxies, consents
or voting authorizations from the Company’s stockholders;

 

(b) encourage,
influence, induce or advise or assist any Person in so encouraging, influencing, inducing or advising any Person with respect to the giving,
revocation or withholding of any proxy, consent or other authorization to vote any shares of Common Stock (other than solicitation activity
that is consistent with the recommendation of and expressly authorized by the Board in connection with any matter submitted to the Company’s
stockholders for their consideration and vote);

 

    3

     

    

 

(c) form,
join, encourage, influence, advise, act in concert with or in any way participate in any “group” (as defined pursuant to Section
13(d) of the Exchange Act), with respect to any Voting Securities (as defined below), other than solely with controlled Kanen Affiliates
with respect to Voting Securities now or hereafter owned by them;

 

(d) (i)
engage in, or become a party or counterparty to, any swap or hedging transaction or other derivative agreement of any nature with respect
to Voting Securities or (ii) acquire, or offer, seek or agree to acquire, by purchase or otherwise, or direct any third party in the acquisition
of, any Voting Securities, or rights or options to acquire any Voting Securities of the Company, or engage in any swap or hedging transactions
or other derivative agreements of any nature with respect to Voting Securities, in each case of clause (i) or (ii) above;

 

(e) sell,
offer or agree to sell, through swap or hedging transactions or otherwise, voting rights decoupled from the underlying Common Stock held
by the Kanen Group or any Kanen Affiliate to any Third Party (as defined below);

 

(f) effect
or seek, offer or propose to effect, cause, make or participate in any tender offer, exchange offer, merger, consolidation, acquisition,
business combination, recapitalization, business reorganization, spin-off/split-off, restructuring, liquidation, dissolution sale or transfer
of all or substantially all of the Company’s assets in one or a series of transactions, sale or transfer of a majority of the outstanding
shares of the Common Stock (through a merger, stock purchase, or otherwise), any changes in the Company’s capital structure or other
extraordinary transaction involving the Company or any of its subsidiaries or the Company’s securities or a material amount of the
assets of the Company and its subsidiaries, taken as a whole (“Extraordinary Transaction”), or frustrate or
seek to frustrate the pendency or consummation of any Extraordinary Transaction approved, recommended, proposed or endorsed by the Board,
or make any public statement with respect to an Extraordinary Transaction (it being understood and agreed that the foregoing shall not
restrict the Kanen Group from tendering shares, receiving payment for shares or otherwise participating in any such transaction, pro rata,
on the same basis as all other stockholders of the Company, or from participating in any such transaction that previously has been approved
and recommended by the Board), or make any proposal, either alone or in concert with others, to the Company or the Board that would reasonably
be expected to require or result in a public announcement regarding any of the types of matters set forth above in this Section 3;

 

(g) enter
into a voting trust or proxy, arrangement or agreement or subject any Voting Securities to any voting trust or proxy, arrangement or agreement,
in each case other than solely with other controlled Kanen Affiliates, with respect to Voting Securities now or hereafter owned by them
and other than granting proxies in solicitations approved with respect to matters recommended and submitted by the Board to the Company’s
stockholders;

 

(h) engage
in any short sale or any purchase, sale or grant of any option, warrant, convertible security, stock appreciation right, or other similar
right (including any put or call option or “swap” transaction) with respect to any security (other than a broad-based market
basket or index) that includes, relates to or derives any significant part of its value from a decline in the market price or value of
the securities of the Company;

 

    4

     

    

 

(i) make
or be the proponent of any stockholder proposal (pursuant to Rule 14a-8 under the Exchange Act or otherwise);

 

(j) alone
or in concert with others, (i) call or seek to call or convene any meeting of stockholders, including a “town hall meeting”
and any proposed action by written consent, (ii) except as set forth in Section 1 of this Agreement, seek election or appointment to,
or representation on, the Board, or nominate or propose the nomination of, or recommend the nomination of, any candidate to, the Board,
(iii) seek the removal or resignation of any member of the Board, (iv) solicit consents from stockholders or otherwise act to seek or
act by written consent, (v) initiate, encourage or participate in any “vote no,” “withhold” or similar campaign,
or (vi) conduct a referendum (irrespective of whether binding or precatory) of stockholders;

 

(k) make
any request for a stockholder list or for any other Company materials, books or records under Section 220 of the Delaware General Corporation
Law, as amended, or other statutory or regulatory provisions providing for stockholder access to stockholder lists or Company books and
records;

 

(l) make
any public statement, announcement, or public proposal or request with respect to or take any action in support of (i) any change in the
number or term of directors or the filling of any vacancies on the Board, (ii) any change in the capitalization or dividend policy of
the Company, (iii) any change in the Company’s management, business, operating strategy, governance policies or corporate structure,
(iv) any waiver, amendment or modification to the Company’s Amended and Restated Certificate of Incorporation or By-Laws, as amended,
or other actions which may impede the acquisition of control of the Company by any person, (v) causing any class or series of securities
of the Company to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or (vi) causing a class or series
of equity securities of the Company to become eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act;

 

(m) make
any disclosure, announcement or statement publicly or privately, in a manner that could reasonably be expected to become public regarding
any intent, purpose, plan or proposal with respect to the Board, the Company, its management, policies or affairs, any of its securities
or assets or this Agreement that is inconsistent with the provisions of this Agreement;

 

(n) enter
into any discussions, negotiations, agreements or understandings with any Third Party to take any action that the Kanen Group is prohibited
from taking pursuant to this Section 3;

 

(o) make
any request or submit any proposal to amend or waive the terms of this Agreement, in each case which would reasonably be expected to result
in a public announcement of such request or proposal; or

 

    5

     

    

 

(p) disclose
any intention, plan, commitment or arrangement to do any of the foregoing.

 

Notwithstanding anything in
this Section 3 or elsewhere in this Agreement, nothing in this Agreement shall prohibit or restrict the Kanen Group from (i) communicating
privately with the Board or any of the Company’s officers regarding any matter, so long as such communications are not intended
to, and would not reasonably be expected to, require any public disclosure of such communications, (ii) communicating with stockholders
of the Company and others in a manner that does not otherwise violate this Section 3 or Section 4(d), or (iii) taking any action necessary
to comply with any law, rule or regulation or any action required by any governmental or regulatory authority or stock exchange that has
jurisdiction over the Kanen Group. Nothing in this Section 3 or elsewhere in this Agreement shall be deemed to limit the exercise in good
faith by any New Director (or a Replacement Director) of such person’s fiduciary duties solely in such person’s capacity as
a director of the Company.

 

As used in this Section 3,
the following terms shall have the following meanings: (i) “Affiliate” has the meaning set forth in Rule 12b-2
under the Exchange Act and shall include Persons who become Affiliates of any Person subsequent to the date of this Agreement; (ii) “Person”
shall be interpreted broadly to include, among others, any individual, general or limited partnership, corporation, limited liability
or unlimited liability company, joint venture, estate, trust, group, association or other entity of any kind or structure; (iii) “Third
Party” means any Person that is not the Kanen Group or an Affiliate of Associate of the Kanen Group; and (iv) “Voting
Securities” means the shares of Common Stock and any other securities of the Company entitled to vote generally in the election
of directors, or securities convertible into, or exercisable or exchangeable for, such shares or other securities, whether or not subject
to the passage of time or other contingencies.

 

4. Additional
Agreements.

 

(a) Nomination
Withdrawal. The Kanen Group hereby irrevocably withdraws the Nomination Letter.

 

(b) Voting
Commitment. From and after the date hereof and until the Termination Date, the Kanen Group shall, and shall cause each of its Affiliates
to, (i) appear in person or by proxy at all annual and special meetings of the Company’s stockholders or in connection with actions
taken by written consent or to otherwise cause all shares of Common Stock beneficially owned by the Kanen Group to be counted as present
thereat for purposes of establishing a quorum; (ii) vote, or cause to be voted, all shares of Common Stock beneficially owned by the Kanen
Group in favor of each of the nominees for election as directors nominated by the Board and recommended by the Board (and not in favor
of any other nominees to serve on the Board), and, except in connection with any Extraordinary Transaction or Other Voting Recommendation
(as defined below), with respect to each of the proposals identified in the Company’s definitive proxy statement or any supplement
thereto, in accordance with the Board’s recommendations, including in favor of all matters recommended by the Board for stockholder
approval and against all matters that the Board recommends against stockholder approval; provided, however, in the event that either
Institutional Shareholder Services Inc. (“ISS”) or Glass Lewis & Co. (“Glass Lewis”)
issues a recommendation with respect to any matter (other than with respect to the election of nominees as directors to the Board or the
removal of directors from the Board) that is different from the recommendation of the Board, the Kanen Group shall have the right to vote
its shares of Common Stock on the Company’s proxy card or voting instruction form in accordance with either the ISS or Glass Lewis
recommendation (the “Other Voting Recommendation”).

 

    6

     

    

 

(c) No
Litigation. Until the Termination Date, each party covenants and agrees that it will not institute, solicit, assist, opt into, or join
(or threaten to do so) any litigation, action, complaint, arbitration or other proceeding against or involving the other party or any
of its current former or future directors, officers, employees, stockholders or Affiliates (including derivative actions, direct class
actions or otherwise), to assert any claims against the other party or any of its current or former or future directors, officers, employees,
stockholders or Affiliates arising out of any facts known by such party as of the Effective Date; provided that this Section 4(c)
shall not prohibit any claim with respect to the enforcement of or a breach of this Agreement.

 

(d) Mutual
Non-Disparagement. Subject to applicable law, each party covenants and agrees that, until the Termination Date, neither it nor any of
its respective agents, subsidiaries, Affiliates, executive officers, directors, partners, members, or managers shall in any way make any
statement or announcement that constitutes an ad hominem attack on, or otherwise disparages or causes to be disparaged, the other party,
any of such other party’s Affiliates, or any of the other party’s past, present or future officers or directors, or take any
action that would reasonably be expected to result in any such statement or announcement being publicly made. Notwithstanding the above,
nothing in this Agreement shall prohibit any party from making any statement or disclosure required under the federal securities laws
or other applicable laws (including to comply with any subpoena or other legal process from any governmental or regulatory authority with
competent jurisdiction over the relevant party thereto) or stock exchange regulations; provided, however, that, unless prohibited
under applicable law, such party must provide written notice to the other party at least two (2) business days prior to making any such
statement or disclosure required under the federal securities laws or other applicable laws or stock exchange regulations that would otherwise
be prohibited by the provisions of this Agreement, and reasonably consider any comments of such other party. The limitations set forth
above shall not prevent any party from responding to any public statement made by the other party of the nature described above, if such
statement by the other party was made in breach of this Agreement.

 

5. Representations
and Covenants.

 

(a)              
Representations and Covenants of the Kanen Group. The Kanen Group, jointly and severally, represents, warrants to and agrees
with the Company, as follows: (i) each member of the Kanen Group that is an entity is duly organized, validly existing and in good standing
under the laws of its jurisdiction of organization, (ii) each member of the Kanen Group has the requisite power and authority (and, in
the case of any natural person, legal capacity) to execute, deliver and perform the terms and provisions of this Agreement and to consummate
the transactions contemplated hereby; (iii) this Agreement has been duly and validly authorized, executed and delivered by each member
of the Kanen Group, constitutes a valid and binding obligation and agreement of each member of the Kanen Group and is enforceable against
each member of the Kanen Group in accordance with its terms; (iv) the Kanen Group, together with the Kanen Affiliates, beneficially owns,
directly or indirectly, an aggregate of 6,209,557 shares of Common Stock and such shares of Common Stock constitute all of the Common
Stock, directly or indirectly, beneficially owned by the Kanen Group and the Kanen Affiliates or in which the Kanen Group or the Kanen
Affiliates have any interest or right to acquire, whether through derivative securities, voting agreements or otherwise; and (v) the
Kanen Group and its Affiliates shall inform each party with shared voting or dispositive power over such securities of the terms of this
Agreement.

 

    7

     

    

 

(b) Representations
and Covenants of the Company. The Company represents and warrants to the Kanen Group that (i) the Company is a corporation duly incorporated,
validly existing and in good standing under the laws of the State of Delaware, (ii) the Company has the requisite corporate power and
authority to execute, deliver and perform the terms and provisions of this Agreement and to consummate the transactions contemplated hereby,
and (iii) this Agreement has been duly and validly authorized, executed and delivered by the Company, constitutes a valid and binding
obligation and agreement of the Company and is enforceable against the Company in accordance with its terms.

 

6. Public
Announcements. The parties shall make the following public announcements and/or filings with the SEC:

 

(a) As
soon as practicable after the Effective Date, (i) the Company and the Kanen Group shall issue a joint press release, in substantially
the form attached hereto as Exhibit A, announcing the execution and delivery of this Agreement, and (ii) the Company shall file
with the SEC a Current Report on Form 8-K (the “Form 8-K”) reporting the execution and delivery of this Agreement
and appending a copy of this Agreement as an Exhibit thereto. The Company hereby agrees to provide the Kanen Group with a reasonable opportunity
to review and comment on the Form 8-K and to consider in good faith any such comments by the Kanen Group.

 

(b) Within
forty-eight (48) hours following the Effective Date, the Kanen Group shall file an amendment to its Schedule 13D (the “13D
Amendment”) with respect to the Company, reporting the execution and delivery of this Agreement, the withdrawal of the Nomination
Letter, the limitations referred to in Section 3 hereof, the obligations and limitations referred to in Section 4 hereof, and amending
the applicable items of its Schedule 13D to conform to the obligations hereunder. The Kanen Group hereby agrees to provide Company with
a reasonable opportunity to review and comment on the 13D Amendment and to consider in good faith any such comments by the Company.

 

(c) None
of the Kanen Group or the Kanen Affiliates shall (i) issue a press release or make any public announcement or filing in connection with
this Agreement or the actions contemplated hereby or (ii) except as contemplated by this Section 6, otherwise make any public statement,
filing, disclosure or announcement with respect to this Agreement or the actions contemplated hereby, other than as mutually agreed to
by the Company and the Kanen Group.

 

7. Miscellaneous.
The parties agree that irreparable damage could occur in the event any of the provisions of this Agreement were not performed in accordance
with the terms hereof and that such damage may not be adequately compensable in monetary damages. Accordingly, the parties hereto shall
be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions
of this Agreement exclusively in the Delaware Court of Chancery and any state appellate court therefrom within the state of Delaware (collectively,
the “Chosen Courts”), in addition to any other remedies at law or in equity, and each party agrees it will not take
any action, directly or indirectly, in opposition to another party seeking relief. Each of the parties hereto agrees to waive any bonding
requirement under any applicable law, in the case any other party seeks to enforce the terms by way of equitable relief. Furthermore,
each of the parties hereto (a) consents to submit itself to the Chosen Courts in the event any dispute arises out of or relating to this
Agreement or the transactions contemplated by this Agreement, (b) agrees that it shall not attempt to deny or defeat such personal jurisdiction
by motion or other request for leave from any such Chosen Courts, (c) agrees that it shall not bring any action arising out of or relating
to this Agreement or the transactions contemplated by this Agreement in any court other than the Chosen Courts. THIS AGREEMENT SHALL BE
GOVERNED IN ALL RESPECTS, INCLUDING VALIDITY, INTERPRETATION AND EFFECT, BY THE INTERNAL SUBSTANTIVE AND PROCEDURAL LAWS OF THE STATE
OF DELAWARE APPLICABLE TO CONTRACTS EXECUTED AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE WITHOUT GIVING EFFECT TO ANY CONFLICT OR CHOICE
OF LAW PRINCIPLES THAT MAY RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

    8

     

    

 

EACH OF THE PARTIES HERETO WAIVES TO THE FULLEST
EXTENT OF THE LAW ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM ARISING OUT OF THIS AGREEMENT.

 

8. Expenses.
The Company will reimburse the Kanen Group for its reasonable, well-documented out-of-pocket fees and expenses (including legal expenses)
incurred in connection with the negotiation and execution of this Agreement and the Nomination Letter; provided that such reimbursement
shall not exceed $175,000 in the aggregate.

 

9. Entire
Agreement; Amendment. This Agreement contains the entire agreement and understanding of the parties with respect to the subject
matter hereof and supersede any and all prior and contemporaneous agreements, memoranda, arrangements and understandings, both written
and oral, between the parties, or any of them, with respect to the subject matter hereof. This Agreement may be amended only by an agreement
in writing executed by the parties hereto, and no waiver of compliance with any provision or condition of this Agreement and no consent
provided for in this Agreement shall be effective unless evidenced by a written instrument executed by the party against whom such waiver
or consent is to be effective. No failure or delay by a party in exercising any right, power or privilege hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any
right, power or privilege hereunder.

 

10. Notices.
All notices, consents, requests, instructions, approvals and other communications provided for herein and all legal process in regard
hereto shall be in writing and shall be deemed validly given, made or served, if (a) delivered in person or sent by overnight courier,
when actually received during normal business hours at the address specified in this subsection, or (b) if given by e-mail, when such
e-mail is transmitted to the e-mail address set forth below and the appropriate confirmation is received:

 

if to the Company, to: 1847 Goedeker, Inc.

 

3817 Millstone Parkway

St. Charles, Missouri 63301

Attention: Robert D. Barry, Secretary

 

With copies (which shall not constitute notice pursuant to
this Section 10) to:

 

Vinson & Elkins L.L.P.

1114 Avenue of the Americas, 32nd Floor

New York, NY 10036

Attention: Lawrence S. Elbaum

E-mail: lelbaum@velaw.com

 

Attention: C. Patrick Gadson

E-mail: pgadson@velaw.com

 

if to the Kanen Group, to: Kanen Wealth Management LLC

 

5850 Coral Ridge Drive Suite 309

Coral Springs, FL 33076

Attention: David Kanen

 

With a copy (which shall not constitute notice pursuant to
this Section 10) to:

 

Olshan Frome Wolosky LLP

1325 Avenue of the Americas

New York, NY 10019

Attention: Andrew Freedman, Esq.

E-mail: afreedman@olshanlaw.com

 

    9

     

    

 

11. Severability.
If at any time subsequent to the date hereof, any provision of this Agreement shall be held by any court of competent jurisdiction to
be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability of such provision
shall have no effect upon the legality or enforceability of any other provision of this Agreement.

 

12. Counterparts.
This Agreement may be executed in two or more counterparts either manually or by electronic or digital signature (including by facsimile
or electronic mail transmission), each of which shall be deemed to be an original and all of which together shall constitute a single
binding agreement on the parties, notwithstanding that not all parties are signatories to the same counterpart.

 

13. No
Third-Party Beneficiaries; Assignment. This Agreement is solely for the benefit of the parties hereto and is not binding upon
or enforceable by any other persons. No party to this Agreement may assign its rights or delegate its obligations under this Agreement,
whether by operation of law or otherwise, and any assignment in contravention hereof shall be null and void. Nothing in this Agreement,
whether express or implied, is intended to or shall confer any rights, benefits or remedies under or by reason of this Agreement on any
persons other than the parties hereto, nor is anything in this Agreement intended to relieve or discharge the obligation or liability
of any third persons to any party.

 

14. Interpretation
and Construction. When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement,
unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. Whenever the words “include,” “includes” and “including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof,”
“herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement
as a whole and not to any particular provision of this Agreement. The word “will” shall be construed to have the same meaning
as the word “shall.” The words “dates hereof” will refer to the date of this Agreement. The word “or”
is not exclusive. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms.
Any agreement, instrument, law, rule or statute defined or referred to herein means, unless otherwise indicated, such agreement, instrument,
law, rule or statute as from time to time amended, modified or supplemented. Each of the parties hereto acknowledges that it has been
represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed
the same with the advice of said independent counsel. Each party cooperated and participated in the drafting and preparation of this Agreement
and the documents referred to herein, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product
of all of the parties and may not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law
or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared
it is of no application and is hereby expressly waived by each of the parties hereto, and any controversy over interpretations of this
Agreement shall be decided without regards to events of drafting or preparation.

 

[Signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first set forth above.

 

	 	1847 Goedeker Inc.
	 	 
	 	By:	
    /s/ Albert Fouerti

	 	 	Name: 	Albert Fouerti
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Cooperation Agreement]

 

      

     

    

 

	
     
	Kanen Wealth Management, LLC
	 	 
	 	By:	/s/ David L. Kanen
	 	 	Name: 	David L. Kanen
	 	 	Title:	Managing Member

 

	 	Philotimo Fund, LP
	 	 
	 	By:	Kanen Wealth Management, LLC, its 

general partner
	 	 	 
	 	By:	/s/ David L. Kanen
	 	 	Name: 	David L. Kanen
	 	 	Title:	Managing Member

 

		Philotimo Focused Growth and Income Fund

 

	 	By:	Kanen Wealth Management, LLC, its

 investment adviser
	 	 	 
	 	By:	/s/ David L. Kanen
	 	 	Name: 	David L. Kanen
	 	 	Title:	Managing Member

 

	 	
    /s/ David L. Kanen

	 	DAVID L. KANEN

 

[Signature Page to Cooperation Agreement]

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