Document:

Employment Agreement dated as of March 10, 2008

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
  

									
	Employee name:	  	Travis Vrbas	  		  	Effective Date:	  	March 10, 2008

 Brooke Corporation, a Kansas corporation (“Brooke”), and the individual named above
(“Employee”), by their signatures below and in consideration of the following recitals, representations and covenants, agree to be bound by this Employment Agreement (this “Agreement”). This Agreement is effective as of the date
entered above (the “Effective Date”). 
 1. Recitals. 
 1.1. Employee wants to be employed by Brooke in the business of (as applicable) (1) franchising, consulting with and lending money to insurance agencies and funeral homes; (2) insurance brokerage;
(3) purchasing, owning, operating and lending money to insurance companies; and (4) purchasing, owning and operating banks and savings and loans (as further defined in Section 12.1, collectively, “Brooke’s Business”).

 1.2. Employee, as a result of such employment, shall be trained in Brooke’s business procedures and shall have access to proprietary
information belonging to Brooke such as technical information, customer lists, pricing practices and other business information. 
 1.3.
Employee agrees that Brooke has developed favorable goodwill with customers and the business community; and Brooke wishes to safeguard its goodwill and proprietary information. 
 2. Employment. Brooke shall employ Employee, and Employee accepts such employment, starting as of the Effective Date and subject to the terms of this Agreement. Employee is not being employed for a set term.
Employee is an employee at-will and shall remain so during the term of this Agreement. Either Employee or Brooke may terminate such employment at any time, with or without cause. 
 3. Job Description. Employee’s job description and title shall be as provided in Exhibit A. Employee shall report to the person designated in Exhibit A. Employee shall perform all duties assigned
by Brooke, not just those described in Exhibit A. Brooke may change Employee’s job description, title and job duties, and may change the person or persons to whom Employee reports, at any time and from time to time, without the need to
amend this Agreement. 
 4. Base Salary. Brooke shall pay Employee the base salary indicated in Exhibit A (less withholding for taxes, expenses,
benefit charges and other amounts as allowed under applicable contract or law) in such installments as is consistent with Brooke’s payroll practices (“Base Salary”). References to “base salary” do not imply, or entitle
Employee to, any income after the date Employee’s employment with Brooke is terminated (the “Termination Date”). The amount of Base Salary may be reviewed and changed by Brooke from time to time, and such changed amount shall become
Base Salary without the need to amend this Agreement. 
 5. Benefits. Brooke shall provide to Employee such benefits, in such amounts and with such
withholding and charges to Employee as are required by law and consistent with Brooke’s benefit policies as applied to personnel of managerial level and duties comparable to Employee’s. The types, amounts and charges applicable to benefits
may be changed by Brooke from time to time, and such changes shall apply to Employee without the need to amend this Agreement. Any professional errors or omissions coverage provided by Brooke for Employee, and any obligation to pay Employee earned
performance bonuses or other bonus or incentive compensation shall cease upon the Termination Date. If Brooke is explicitly required under this Agreement or otherwise agrees to make post-termination payments to Employee or to provide
post-termination benefits to Employee, Brooke shall not be obligated to make such payments or to provide such benefits (except as may be required by law) for so long as the Noncompetition Obligation (as defined in Section 12.2) and
Employee’s other obligations to Brooke under this Agreement (collectively, “Employee Obligations”) are in breach. All benefits provided to Employee shall be subject to the terms and conditions of the plans, agreements, contracts,
insurance policies and other documents governing such benefits and the same may be amended by Brooke from time to time without the need to amend this Agreement. 
  

			
	Employment Agreement	 	Page 1 of 6

 6. Reimbursement. Brooke shall reimburse Employee those ordinary and customary expenses incurred by Employee in
performance of Employee’s duties. Brooke shall reimburse other expenses incurred by Employee as Brooke may pre-approve in Brooke’s absolute discretion. Employee shall comply with Brooke’s expense reimbursement policies. 
 7. Compliance. Employee shall comply with Brooke’s policies, including without limitation those policies described in Brooke’s employee handbook. If any
such policy conflicts with this Agreement, that provision of either such policy or this Agreement which provides Brooke the most protection or the most rights shall govern. Employee has fully and truthfully completed all required employment-related
applications and forms. Brooke may change its policies, the employee handbook and such applications and forms from time to time, and such changed items shall apply to Employee without the need to amend this Agreement. 
 8. Reportable Events. Employee represents that no event listed in Item 401(f) of Regulation S-K has occurred in the last five years. This Section 8
applies to Employee whether or not Employee is or becomes an executive officer of Brooke or any Brooke affiliate. If Employee expects such an event or if such an event occurs during the term of this Agreement, Employee shall immediately contact the
Brooke Legal Department with the relevant facts and circumstances and copies of the relevant documents. The following are events listed under this regulation: 
  

	•	 	 Filing of a voluntary or involuntary bankruptcy or state insolvency law petition. 

  

	•	 	 Appointment of a receiver over Employee’s assets. 

  

	•	 	 Filing of such a petition for, or such appointment of a receiver over the assets of, any partnership, limited liability company or corporation for which Employee
served as a general partner or executive officer within the two years preceding such filing or appointment. 

  

	•	 	 Any order preventing or limiting Employee from acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator,
floor broker, leverage transaction merchant or any other person regulated by the Commodity Futures Trading Commission; or an associated person of any of the foregoing; or as an investment adviser, underwriter, broker or dealer in securities; or as
an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company. 

  

	•	 	 Any order preventing or limiting Employee from engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with
any violation of Federal or State securities laws or Federal commodities laws. 

  

	•	 	 Any order preventing or limiting Employee from engaging in any other business activity. 

  

	•	 	 A conviction in a criminal proceeding or being named a subject of a pending criminal proceeding, excluding traffic violations and other minor offenses.

  

	•	 	 A conviction in a civil proceeding under Federal or state securities or commodities laws or being named a subject of a pending civil proceeding under such laws.

 9. No Conflicting Activity. While employed by Brooke, Employee shall not be employed in or otherwise engage in any occupation,
consulting, counseling or other activity, whether or not for profit, relating to Brooke’s Business or which prevents or is likely to prevent Employee from devoting substantially all of Employee’s working time to Employee’s duties as a
Brooke employee. If professionally licensed as described in Section 10, Employee shall not be employed in or otherwise engage in such profession on behalf of any client or potential client, including non-paying or charitable clients, without
the prior written consent of Employee’s supervisor. 
 10. Professional Licenses. Employee shall be licensed and in good standing in such
professions and in such jurisdictions as are reasonably required for Employee’s duties as a Brooke employee. Brooke shall reimburse Employee’s reasonable out-of-pocket 

  

			
	Employment Agreement	 	Page 2 of 6

 
expenses required to maintain such licenses and to be so licensed in any additional jurisdictions as are required by Employee’s duties as a Brooke
employee. Employee shall notify Brooke within three calendar days if Employee becomes unlicensed or is no longer in good standing, or if any action is taken to revoke Employee’s license or good standing, in such professions and in such
jurisdictions as are reasonably required for Employee’s duties as a Brooke employee. 
 11. Confidential Information. Employee shall not
disclose, either during or subsequent to employment by Brooke, any Confidential Information to anyone other than authorized employees and agents of Brooke, or others to the extent they need Confidential Information to further Brooke’s interests
as authorized by Brooke. Employee shall not take possession of, remove from premises or transport Confidential Information, except as reasonably required to carry out Employee’s duties to Brooke. Employee shall not retain originals, copies,
summaries or transliterations of Confidential Information after the Termination Date. These obligations shall be in addition to Employee’s obligation to protect such information under the rules and standards of Employee’s profession, as
applicable. 
 11.1. Types of Information Protected. “Confidential Information” means all information normally considered to
be of a proprietary or confidential nature belonging or pertaining to Brooke, Brooke’s affiliates, franchisees, transacting parties, customers and employees. Confidential Information shall include without limitation any listing of, rented or
owned electronic database containing or other information relating to, products, services, loans, processes, designs, customers, customer leads or contacts, borrowers, lenders, purchasers of loans, insurance companies, policy expiration, business
plans, marketing plans, strategies, budgets, financial data, research data, pricing information, projections, acquisition or divestiture plans, franchise agents, brokers/producers, employees or personnel changes. 
 11.2. Exceptions. Notwithstanding the restrictions above, Employee may disclose or use Confidential Information to the extent (1) required to
do so by a court of law, government agency or administrative or legislative body; (2) required to do so under the rules and standards of Employee’s profession, as applicable; and (3) such information becomes generally known to the
public or trade without breach by Employee. The fact that Employee may produce Confidential Information while employed shall in no way limit Employee’s obligations under this Section 11. 
 12. Noncompetition. 
 12.1. Covenant. In
consideration for the concurrent grant by Brooke to Employee of access to Brooke’s proprietary and confidential information; for employment by Brooke or, if Employee is a current Brooke employee, continued employment by Brooke; and for other
consideration the receipt and sufficiency of which is hereby acknowledged by Employee, for a period of two years following the Termination Date, Employee shall not (1) be a director, officer, employee, principal agent or consultant with any
competitors of Brooke specified as of the Termination Date (“Competitors”); or (2) similarly participate in any business which competes with any part of Brooke’s Business. “Brooke’s Business” shall include, in
addition to those lines of business described in Section 1.1, any other line of business of Brooke or its affiliates accounting for ten percent or more of Brooke’s consolidated gross revenues in Brooke’s fiscal year completed on or
most recently before the Termination Date. 
 12.2. Exceptions. If Employee is terminated as a result of a reduction in workforce by
Brooke, Employee shall be relieved from complying with the provisions of this Section 12 (the “Noncompetition Obligation”). In addition, Employee may be relieved, in whole or in part, from complying with the Noncompetition Obligation
by: (1) making written application to Brooke’s Human Resources Department for an exception to the Noncompetition Obligation stating clearly Employee’s prospective employer, address, immediate supervisor, duties and position and
including a detailed description of Employee’s current duties and position with Brooke; (2) receiving a written exception from Brooke; and (3) providing Brooke, upon it’s reasonable request from time to time, with verification
that Employee’s duties and position with Employee’s new employer remain as stated in the written application previously submitted to Brooke. Employee’s obligation to provide Brooke with such verifications shall continue for the term
of the Noncompetition Obligation. 
  

			
	Employment Agreement	 	Page 3 of 6

 13. Non-Solicitation. 
 13.1. Non-Solicitation of Employees. For two years following the Termination Date, Employee shall not for any reason solicit or induce, or assist anyone else in the solicitation or inducement of, (1) any
of Brooke’s then-current employees for the purpose of terminating such person’s employment with Brooke; or (2) anyone to cease his or her business relationship with Brooke. 
 13.2. Non-Solicitation of Customers. For two years following the Termination Date, Employee shall not seek or solicit business or orders from any
person or entity that is or has been a customer or client of Brooke at any time during the three years preceding the Termination Date. 
 14. Duration and
Scope of Restrictive Covenants. Brooke and Employee agree that the duration and geographic scope of Sections 12 and 13 are reasonable. In the event that any court of competent jurisdiction determines that the duration of the geographic
scope, or both, are unreasonable and that such provision is to that extent unenforceable, Brooke and Employee agree that the provision shall remain in full force and effect for the greatest lesser time period and in the greatest lesser area that
would not render it unenforceable. 
 15. Dispute Resolution. 
 15.1. Mediation. Subject to Section 15.8, any dispute, claim or controversy arising out of or relating to (1) the employment relationship between Brooke and Employee; (2) this Agreement; or
(3) the breach, termination, enforcement, interpretation or validity of this Agreement, including without limitation the determination of the scope of applicability of this Agreement (collectively, “Dispute”), and which Employee and
Brooke are not able to resolve themselves by negotiation, shall be submitted to mediation to attempt to resolve such Dispute prior to submitting to binding arbitration. 
 15.1.1. Procedure. The parties shall select an independent mediator to hear the Dispute, or failing that, shall select an independent mediator from a list of neutral arbitrators provided by the American
Arbitration Association (“AAA”). If the parties cannot agree on an independent mediator, the local Bar Association where the Base Office is located shall select an independent mediator. The parties shall then promptly agree with the
mediator as to the time and place of the mediation, who shall attend and participate in the mediation and what information and items shall be exchanged before the mediation. The parties shall participate in the mediation in good faith. 

15.2. Arbitration. If a Dispute is not resolved within 45 days from the earlier of its submission to mediation or the date on which a party
first receives written notice from the other party of the nature and related facts and circumstances of the Dispute, any mediation shall terminate and the parties shall be subject to final and binding arbitration before one arbitrator. The
arbitration shall be held in the Brooke Office from which Employee was most recently based (the “Base Office”), or if such office is then closed or is insufficient to such purpose, the next-nearest and sufficient Brooke office. The
arbitrator may not be a person who previously mediated the Dispute and shall be selected by the parties according to the provisions set forth in the AAA National Rules for the Resolution of Employment Disputes in effect when the demand for
arbitration is filed. In the event any applicable rules or procedures adopted by the AAA conflict with this Agreement the terms of this Agreement shall govern. 
 15.2.1. Procedure. The arbitration shall be administered by AAA (1) pursuant to its Employment Arbitration Rules & Procedures and its Policy on Employment Arbitration Minimum Standards of
Procedural Fairness; and (2) in accordance with the state or federal law that would be applied by a United States District Court for the district encompassing the Base Office. The arbitrator shall have no authority to add to, detract from,
change, amend or modify existing law and shall be bound to follow the substantive law applicable to the Dispute. Final judgment of the arbitrator shall be given in writing and may be entered in a court having jurisdiction thereof. 
 15.3. Extension of Employee Obligations. The term of Employee Obligations under Sections 12 and 13 shall be extended for any period of
time required to enforce such obligations by settlement, mediation, arbitration, litigation or threat of same. 
  

			
	Employment Agreement	 	Page 4 of 6

 15.4. Provisional Remedies. Nothing in this Section 15 shall prevent a party seeking
provisional remedies in aid of mediation or arbitration from a court of appropriate jurisdiction. 
 15.5. Injunctive Relief.
Brooke’s damages upon a breach of any Employee Obligation would be impossible to determine, and no adequate remedy at law would be available. Employee therefore agrees that upon a breach of Employee Obligations, in addition to any other relief
to which Brooke may be entitled, Brooke shall be entitled to enforce any or all of the defaulted Employee Obligations by injunctive or other equitable relief ordered by any court of competent jurisdiction. 
 15.6. Waiver. By signing this Agreement, each party voluntarily, knowingly and intelligently waives any right it may otherwise have to a jury
trial or to seek remedies in court or other forums. 
 15.7. Claims Covered. Disputes subject to this Section 15 include without
limitation (1) the enforceability or validity of this Agreement and the arbitrability of claims under it; (2) claims for wages or other compensation; (3) claims for breach of contract or covenant, express or implied; (4) tort
claims; (5) claims for discrimination or harassment on bases which include without limitation race, gender, sexual orientation, religion, national origin, age, disability, medical condition or ancestry; (6) claims for benefits;
(7) claims under (a) Title VII of the Civil Rights Act of 1964, (b) the Civil Rights Act of 1991, (c) the Age Discrimination in Employment Act of 1967, (d) 42 U.S.C. §§ 1981, 1981a, 1983, 1985, or 1988,
(e) the Family and Medical Leave Act of 1993, (f) the Americans with Disabilities Act of 1990, (g) the Rehabilitation Act of 1973, (h) the Equal Pay Act, (i) the Occupational Safety and Health Act, (j) the Fair Labor
Standards Act of 1938, and (k) the Employee Retirement Income Security Act of 1974, as such laws may be amended from time to time; and (8) violation of or compliance with any other federal, state, local or other constitution, statute,
ordinance, regulation or public policy. 
 15.8. Claims Not Covered. Claims and controversies not covered by the requirements for
mediation and arbitration in this Agreement include (1) claims for workers’ compensation benefits or unemployment compensation benefits; (2) claims resulting from the default of any obligation of Brooke or Employee under a loan
agreement; (3) claims for injunctive or other equitable relief for intellectual property violations, unfair competition or use or unauthorized disclosure of trade secrets or other Confidential Information; (4) breach or threats to breach
the Noncompetition Obligation or Section 13 (non-solicitation); or (5) claims based upon a pension or benefit plan that either (a) contains an arbitration or other non-judicial resolution procedure, in which case the provisions of
such plan shall apply, or (b) is underwritten by a commercial insurer which decides claims. If there are multiple claims and controversies, only some of which are Disputes subject to this Section 15, each matter shall be resolved in the
appropriate forum. By signing this Agreement, Employee is not waiving (1) any right to earned wages; or (2) any right to file a complaint with the U.S. Equal Employment Opportunity Commission or any other federal, state or local agency
designated to investigate complaints of harassment, discrimination, other statutory violations or similar claims. 
 15.9. Costs. Each
party shall bear its own costs of mediation, arbitration and litigation and shall share equally in the costs of the mediator and the arbitrator required by this Section 15. 
 16. Miscellaneous. 
 16.1. Consultation. Employee has had ample opportunity to discuss this
Agreement with personal legal counsel and has used that opportunity to the extent desired. 
 16.2. Scope. The scope and effect of
Employee Obligations shall be as broad as may be permitted under applicable law. Any Employee Obligation shall be ineffective if and to the extent that it purports to restrict Employee to a greater extent than permitted under applicable law, but
shall remain in full force and effect to the extent that it is consistent with applicable law. 
 16.3. Prior Agreements. Employee
Obligations are independent of any similar covenants agreed to by Employee and Brooke and may be enforced without regard to the enforceability or continued effectiveness of any such other covenants. 
  

			
	Employment Agreement	 	Page 5 of 6

 16.4. Survival. Employee Obligations are continuing obligations and shall survive both the
execution of this Agreement and the Termination Date. Other provisions of this Agreement that pertain to disputes or guide interpretation and enforcement shall also survive the Termination Date. 
 16.5. Subsequent Employers. So long as Employee Obligations are in effect, Employee hereby (1) consents to Brooke providing written notice to
Employee’s subsequent employers of those Employee Obligations then in effect, which notice may include a copy of this Agreement; and (2) agrees to inform Brooke of the name and address of each such subsequent employer and the name, address
and telephone number of a person at each such subsequent employer that Employee reports to. 
 16.6. Entire Agreement. This Agreement
constitutes the entire agreement between the parties with respect to its subject matter. It supersedes any prior agreement or understanding between them, and it may not be modified or amended except by a writing executed by both parties. There are
no oral understandings, promises or inducements between the parties. 
 16.7. Waiver. No waiver of a breach shall be construed as a
waiver of a subsequent breach. 
 16.8. Assignment. Brooke may assign any or all of its rights and obligations under this Agreement
from time to time upon notice to Employee. Employee may not assign any right or obligation under this Agreement and any attempt to do so shall be void from its inception. 
 16.9. Governing Law. This Agreement shall be governed by and interpreted in accordance with the internal laws of the state where the Base Office is located. 
 16.10. Successors. This Agreement binds and benefits the parties and their respective successors in interest. 
 The parties have executed this Agreement below by their signature(s) or the signature(s) of their duly-authorized representatives. 
  

									
	Brooke Corporation	 		 	Employee
					
	Signed:	 	 /s/ Leland G. Orr
	 		 	Signed:	 	 /s/ Travis Vrbas

	Printed name:	 	Leland G. Orr	 		 	Date:	 	                     
	Title:	 	President & CEO	 		 		 	
	Date:	 	                     	 		 		 	

  

			
	Employment Agreement	 	Page 6 of 6

 EXHIBIT A 
 to Employment Agreement 
  

			
	Employee name:	  	Travis Vrbas
		
	Job title:	  	CFO, Treasurer & Asst. Secretary
		
	Base salary:	  	$125,000/annual
		
	Employee reports to:	  	President & Chief Executive Officer
		
	Job description (below):	  	
		
	Office Location:	  	Phillipsburg, Kansas
		
	Status of Employee:	  	Exempt
		
	Job Hours per Week:	  	Generally 50+ hours per week
		
	Days of the Week:	  	Monday-Friday, weekends as required by workload

 Synopsis of Employee Role: To direct and oversee all financial activities of the corporation
including preparation of current financial reports as well as summaries and forecasts for future business growth and general economic outlook. 
 Essential Job Functions: 
  

	 	•	 	 Direct the preparation of all financial reporting functions including SEC reporting. 

  

	 	•	 	 Oversee accounting function, budget preparation, and external audit functions. Meet regularly with the Board, CEO and executive management.

  

	 	•	 	 Direct preparation of and review reports to analyze projections of loan origination, profits, and other key matrices against actual figures.

  

	 	•	 	 Confer with CEO, other executives, and staff to coordinate and prioritize planning. 

  

	 	•	 	 Study long-range economic trends and project company prospects for future growth in franchise market share, opportunities for acquisitions or expansion into new
areas. 

  

	 	•	 	 Work with lenders, investors, rating agencies and/or investment bankers to raise additional capital as required for expansion. 

  

	 	•	 	 Present and participate in road shows, earnings calls and investor conferences. 

  

	 	•	 	 Act as primary interface with audit committee of the Board. 

  

	 	•	 	 Plan, develop, organize, implement, direct and evaluate the organization’s fiscal function and performance. 

  

	 	•	 	 Evaluate and advise on the impact of long-range planning and introduction of new programs/strategies. 

  

	 	•	 	 Enhance and/or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall operation and
effectiveness of the corporation. 

  

	 	•	 	 Provide technical financial advice and knowledge to management. 

  

	 	•	 	 Provide strategic financial input and leadership on decision-making issues affecting the organization. 

  

	 	•	 	 Be an advisor from the financial perspective on any contracts into which the corporation may enter. 

  

	 	•	 	 Evaluate the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group. 

  

	 	•	 	 Employ appropriate policies, methods and systems to evaluate, measure, report and manage risks. 

  

	 	•	 	 Perform other duties as assigned. 

 Exhibit A to Employment Agreement 

 Critical Skills/Qualifications: 
  

	 	•	 	 Ability to synthesize complex or diverse information. 

  

	 	•	 	 Ability to identify and resolve problems in a timely manner and gather and analyze information skillfully. 

  

	 	•	 	 Ability and willingness to delegate work assignments, set expectations and monitor delegated activities. 

  

	 	•	 	 Demonstrated ability to inspire and motivate others to perform well. 

  

	 	•	 	 Ability to make timely decisions, exhibit sound and accurate judgment. 

  

	 	•	 	 Strong work ethic, with the ability to adjust to varying demands. 

  

	 	•	 	 Ability to work in a fast-paced growth environment. 

  

	 	•	 	 Energetic, forward thinking and creative individual with demonstrated high ethical standards and an appropriate professional image. 

  

	 	•	 	 Strategic visionary with sound management ability, technical skills, analytical ability and good judgment. 

  

	 	•	 	 Well-organized and self-directed individual who is a team player. 

  

	 	•	 	 Possess excellent verbal and written communication skills. 

  

	 	•	 	 Excellent negotiation skills. 

  

	 	•	 	 Decisive individual who possesses a “big picture” perspective and is well versed in systems. 

  

	 	•	 	 Strong presentation and public speaking skills. 

 Education/Experience/Licensure: 
  

	 	•	 	 CFO experience with a public company preferred 

  

	 	•	 	 SEC reporting experience required 

  

	 	•	 	 C.P.A. designation preferred 

  

	 	•	 	 Knowledge of database and accounting computer application systems 

  

	 	•	 	 Five to ten years of experience in financial management with increasing responsibilities of multi-faceted direction and planning 

  

	 	•	 	 Public accounting experience with a Big Four preferred 

  

	 	•	 	 SFAS 140 and SOX 404 experience a plus 

  

	 	•	 	 Finance company experience a plus 

  

									
	  
	  		  	  

	Employee Signature	  	Date	  		  	Supervisor Signature	  	Date

  

			
	Employment Agreement	 	Page 2 of 6Separation Agreement and General Release dated as of March 11

 Exhibit 10.2 
 Separation Agreement and General Release 
 This Separation Agreement and General Release (this
“Agreement”) is dated as of March 11, 2008 (the “Separation Date”) and is made between Brooke Corporation, a Kansas corporation with its principal office in Overland Park, Kansas, on its own behalf and on behalf of its
affiliates (collectively, “BXXX”), and Keith E. Bouchey (“KEB”). KEB is employed by BXXX or a company controlling, controlled by or under common control with BXXX (as used herein, “affiliate”). KEB and BXXX now wish to
end that employment, to set forth the terms of their future relationship and to mutually release each other from certain claims specifically including all claims or potential claims arising under the Age Discrimination in Employment Act
(“ADEA”), and all other claims or potential claims with respect to KEB’s employment by BXXX and the termination thereof. KEB has no right to, or vested interest in, the consideration described in this Agreement unless KEB executes and
returns this Agreement and the revocation period lapses without this Agreement having been revoked by KEB. KEB is advised to consult with an attorney or any other person before signing this Agreement and is entitled to a period of 21 calendar days
to consider this Agreement, and has in fact consulted an attorney. In accordance with 29 U.S.C. § 626(f)(1)(F), KEB is advised of the right to revoke this Agreement for a period of up to seven calendar days after signing this
Agreement and that this Agreement will not become effective or enforceable until the seven-day revocation period has passed. Accordingly, the effective date of this Agreement shall be the eighth calendar date following the date on which this
Agreement was signed by KEB. 
 1. Resignation. KEB hereby resigns KEB’s employment and all directorships and offices held with BXXX and its
affiliates effective as of the close of business on the Separation Date. KEB shall execute the letters of resignation attached hereto. KEB agrees that, after the Separation Date, KEB shall be available at reasonable times and locations though
March 31, 2008 to assist BXXX in any transition issues arising from KEB’s resignation. KEB agrees that KEB has returned or shall immediately return to BXXX all property (including keys, access cards, computer, computer software and
peripherals, files and emails, etc.) and documents (including all copies of documents, files and E-mails) which KEB obtained from BXXX or from any of BXXX’s customers or vendors. 
 2. Non-Disparagement. Except to the extent required by law, KEB and BXXX each agree not to disparage the other, that is, KEB agrees that KEB shall not make
negative comments about BXXX, BXXX agrees that BXXX shall not make negative comments about KEB and that KEB and BXXXX each agree not to make negative comments about KEB’s employment by BXXX and KEB’s performance of such employment.

 3. BXXX Obligations. In exchange for KEB’s resignation, and for KEB’s other promises and obligations as set forth in this Agreement, BXXX
shall provide the following to KEB: (1) KEB’s salary and benefits through March 31, 2008, payable in a lump sum payment to be made by BXXX on the eighth calendar date following the date on which this Agreement is signed by KEB; and
(2) the papers necessary for KEB to elect continuation of any group medical insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and according to the terms and conditions of BXXX’s medical
plan. 
  

			
	Separation Agreement and General Release	 	Page 1 of 4

 4. Consideration. KEB understands and agrees that the monies and benefits described in Section 3 are the sole
financial obligations of BXXX to KEB under this Agreement or arising from KEB’s employment by BXXX or the end of that employment. Unless and to the extent such amounts are withheld by BXXX, KEB agrees that KEB is solely responsible for and
shall pay all taxes, contributions or other payments which may be due at any time to any taxing authority on the monies received from BXXX under this Agreement. 
 5. Release. 
 5.1. By KEB. In exchange for the benefits given by BXXX to KEB under this Agreement, KEB agrees, on
KEB’s own behalf and on behalf of KEB’s heirs, personal representatives, and any other person who may be entitled to make a claim on KEB’s behalf or through KEB, that KEB hereby freely, finally, fully and forever releases and
discharges BXXX from any and all claims, charges, actions and causes of action of any kind or nature that KEB once had or now has against BXXX, arising out of KEB’s employment with BXXX or termination of such employment, whether such claims are
now known or unknown to KEB (“KEB Claims”). The KEB Claims do not include (1) any claims arising from events occurring after KEB signs this Agreement; or (2) any claims which by law may not be released by him. KEB realizes that
there are many laws and regulations relating to employment relationships, including Title VII of the Civil Rights Act of 1964; the Age Discrimination in Employment Act of 1967; the Americans with Disabilities Act of 1990; the Family and Medical
Leave Act; the Civil Rights Act of 1866; the Employee Retirement and Income Security Act; The National Labor Relations Act, as amended, the Equal Pay Act, as amended, the Pregnancy Discrimination Act, as amended, any State Civil or Human Rights Act,
42 U.S.C. § 1981, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notifications Act, as amended, the Older Worker Benefit Protection Act, as amended, the Fair Labor Standards Act, as amended, any state Wage Payment Act,
claims for retaliatory discharge under any state Workers’ Compensation Act, any claims under the Kansas Act Against Discrimination or the Missouri Human Relations Act, excepting only vested retirement benefits as provided by law and various
other federal, state and local constitutions, statutes, ordinances, human rights laws, common laws (including the laws of contract and negligence) and amendments thereto. KEB intends fully and finally to release BXXX from any and all claims arising
under such laws which KEB has or may have arising from events occurring prior to the date on which KEB signs this Agreement. 
 5.2. By
BXXX. In exchange for the consideration provided under this Agreement, BXXX hereby releases and discharges KEB from any and all claims, charges, actions and causes of action of any kind or nature that BXXX once had or now has against KEB,
arising out of KEB’s employment with BXXX or termination of such employment, whether such claims are now known or unknown to BXXX. 
  

			
	Separation Agreement and General Release	 	Page 2 of 4

 6. Amendment of Employment Agreement. That certain Executive Employment Agreement, dated September 13, 2007,
by and between BXXX and KEB (the “Employment Agreement”), shall, to the extent in conflict with the terms of this Agreement, be amended and superseded by the terms of this Agreement, including without limitation the terms of this
Section 6: 
 6.1. Noncompetition. KEB may own all or any portion of entities engaged in, be employed by or otherwise participate
in, directly or indirectly, the business of providing banking and financial services, other than agent banking (“Allowed Services”). Provision of Allowed Services may include provision of such services to BXXX, employees, lenders,
franchisees and customers, so long as KEB has not participated in the solicitation of same in violation of the Employment Agreement. Entities providing Allowed Services may also provide insurance and other services, so long as they are primarily
engaged in the provision of Allowed Services and KEB has not otherwise violated the non-solicitation or confidentiality provisions of the Employment Agreement. 
 6.2. Severance Payments. No severance payments shall be due KEB. 
 7. D&O Liability Insurance. BXXX shall
maintain a policy or policies of director and officer liability and other insurance covering usual and customary liabilities which may be incurred by directors and officers in the performance of their duties to BXXX, which insurance shall have no
less than the coverage dollar limits and deductibles as applied to such insurance immediately prior to the Separation Date and which insurance shall insure and and hold KEB harmless from claims arising during or as a consequence of KEB’s
employment by BXXX. 
 8. Miscellaneous. The parties acknowledge and agree that the extent of damages to a party in the event of a breach by a party
of Sections 2 or 5 hereof would be impossible to ascertain and that there is and shall be available to the non-breaching party no adequate remedy at law in the event of such a breach; consequently, each party agrees that in the event of a
such a breach by it, in addition to any other relief to which the non-breaching party may be entitled, the non-breaching party shall be entitled to enforce any or all of the defaulted obligation by injunctive or other equitable relief ordered by any
court of competent jurisdiction. The obligations of the parties under this Agreement are independent of any similar covenants agreed to by KEB and BXXX and may be enforced without regard to the enforceability or continued effectiveness of any such
other covenants. The obligations of the parties under this Agreement are continuing obligations and shall survive both the execution of this Agreement and the Separation Date. This Agreement constitutes the entire agreement between the parties with
respect to its subject matter, except to the extent expressly provided herein. This Agreement supersedes any prior agreement or understanding between the parties hereto, and it may not be modified or amended except by a writing executed by them.
This Agreement and the rights of the parties hereunder shall be governed by and interpreted in accordance with the internal laws of the State of Kansas. This Agreement shall be binding and inure to the benefit of the parties and their respective
successors in interest of any kind whatsoever. 
  

			
	Separation Agreement and General Release	 	Page 3 of 4

 9. Disclaimers Under the Older Workers Benefits Protection Act. KEB, being 40 years of age or older, is advised of
and acknowledges the following: 
 9.1. Twenty-One Day Consideration Period. KEB shall have up to 21 days to consider and accept the
terms of this Agreement by fully executing and returning it to BXXX. During this 21-day period and before signing this Agreement, KEB is encouraged to consult with an attorney regarding the terms and provisions of this Agreement, at his own expense.
The terms and provisions of this Agreement are null and void if not accepted by KEB within the 21-day period. KEB may sign the Agreement prior to the conclusion of the 21-day period. 
 9.2. Release of Age Discrimination in Employment Act Claims. By signing this Agreement, KEB waives any claims he has or might have against BXXX
under the Age Discrimination in Employment Act (“ADEA”) that accrued prior to the date of KEB’s signing of this Agreement. 
 9.3. Revocation Period; Letter from KEB. KEB shall have seven calendar days from the date he signs this Agreement to revoke the Agreement by notifying BXXX in writing prior to the expiration of the seven calendar-day period. Any
revocation within this period must state “I hereby revoke my acceptance of our Separation Agreement and General Release.” The written revocation must be personally delivered to BXXX by hand delivery or certified mail, and must be
postmarked within seven calendar days of KEB’s execution of this Agreement. This Agreement shall not become effective or enforceable until the revocation period has expired. If the last day of the revocation period is a Saturday, Sunday, or
legal holiday, then the revocation period shall not expire until the next following day that is not a Saturday, Sunday, or legal holiday. 
 The parties have executed this Agreement (or counterparts hereof) below by their signature(s) or by the signature(s) of their duly-authorized representatives. 
  

											
	Keith E. Bouchey	 		 		 	Brooke Corporation
						
	Signed:	 	 /s/ Keith E. Bouchey
	 		 		 	Signed:	 	 /s/ Robert D. Orr

		 		 		 		 	Printed name:	 	Robert D. Orr
		 		 		 		 	Title:	 	Chairman

  

			
	Separation Agreement and General Release	 	Page 4 of 4

 Resignation 
 The undersigned hereby resigns from all directorships and offices held with Brooke Corporation, Brooke Capital Corporation and Brooke Credit Corporation and their respective subsidiaries and affiliates, effective as of March 11, 2008.

  

			
	Signed:	 	 /s/ Keith E. Bouchey

		 	Keith E. Bouchey

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