Document:

Form of Escrow Agreement

 Exhibit 10.11 

ESCROW AGREEMENT 

This Escrow Agreement (this “Agreement”) is made and entered into as of the      day of August, 2015, by and
among LM Funding America, Inc., a Delaware corporation (the “Company”), SunTrust Bank, a Georgia banking corporation (“Escrow Agent”), and International Assets Advisory, LLC, a Florida limited liability company (“IAA”),
as representative of the several sales agents (individually and collectively, the “Sales Agent”) set forth in Schedule I of the Sales Agency Agreement, dated August, 2015, by and between the Company and IAA, as such representative,
and on Schedule I of this Agreement. 
 RECITALS: 

A. The Company proposes to sell a minimum of 1,200,000 units and a maximum of 2,000,000 units, with each unit consisting of one share of
common stock, $0.001 par value, and one warrant, of the Company (the “Units”) at a price per Unit of $10.00. 
 B. The Company has
retained the Sales Agent, as agent for the Company on a best efforts, minimum-maximum basis, to sell the Units in a public offering (the “Offering”) registered under the provisions of the Securities Act of 1933, as amended, and the Sales
Agent has agreed to sell the Units in the Offering as the Company’s agent on a best efforts, minimum-maximum basis. 
 C. The Escrow
Agent is willing to hold the proceeds of the Offering (the “Offering Proceeds”) in escrow pursuant to this Agreement. 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained in this Agreement, it is hereby agreed as follows: 

1. Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a non-interest-bearing escrow
account with the Escrow Agent, which escrow account is entitled “LM Funding America Escrow Account” (the “Escrow Account”). Payment for the Units may be made (i) by check, bank draft or money order made payable to
“SunTrust Bank, as Escrow Agent for–LM Funding America, Inc.and delivered to the Sales Agent no less than four Business Days before the Closing Date (as defined below), IAA will cause the Sales Agent to transfer these funds directly to the
Escrow Agent (“Monies Delivered”), (ii) by authorization of withdrawal from securities accounts maintained with the Sales Agent, or (iii) by wire transfer to the Escrow Agent pursuant to the instructions set forth on Exhibit
“C”. If payment is made by authorization of withdrawal from securities accounts, the funds authorized to be withdrawn from a securities account will continue to accrue interest while held in the securities account, if any interest is to
accrue on such amounts, at the contractual rates until closing or termination of the Offering (“Monies Authorized”). No interest will accrue on any Monies Authorized which are delivered to the Escrow Agent for deposit in the Escrow
Account. If a purchaser authorizes the Sales Agent to withdraw the amount of the purchase price from a securities account, IAA will cause the Sales Agent to deliver the Monies Authorized to the Escrow Agent for deposit in the Escrow Account by 2:00
PM eastern daylight savings time on the Closing Date. Any check received which is made payable to any party other than the Escrow 

 
Agent shall be returned to the purchaser who submitted the check and not accepted. The Escrow Agent shall have no responsibility for payments until such proceeds are actually received, clear
through normal banking channels and constitute collected funds. The Escrow Agent shall have no duty to collect or seek to compel payment of any payments, except to place such proceeds or instruments representing such proceeds for deposit and payment
through customary banking channels. Checks for Offering Proceeds furnished by purchasers shall be made payable to: SunTrust Bank, as Escrow Agent for LM Funding America, Inc. For purposes of this Agreement, “Business Day” shall mean
any day other than a Saturday, Sunday or any other day on which the Escrow Agent located at the notice address set forth in Section 11 is authorized or required by law or executive order to remain closed. 

2. Escrow Period. The escrow period (the “Escrow Period”) shall begin with the commencement of the Offering and shall
terminate upon the earlier to occur of the following dates: 
 (a) the date on which the Escrow Agent confirms to the Company and IAA that
it has received in the Escrow Account $20,000,000 in Offering Proceeds; 
 (b) November 14, 2015; or 

(c) the date on which IAA and the Company notify the Escrow Agent in writing that the Offering has been terminated. 

The Company is aware and understands that, during the Escrow Period, it is not entitled to any funds received into escrow and no amounts
deposited in the Escrow Account shall become the property of the Company or any other entity or be subject to the debts of the Company or any other entity. 

3. Deposits into the Escrow Account. IAA will deliver or cause the Sales Agents to deliver to the Escrow Agent for deposit in
the Escrow Account all (i) Monies Delivered received from purchasers of the Units by noon of the next Business Day after receipt and (ii) all Monies Authorized by 2:00 PM eastern daylight savings time on the Closing Date, in each case
together with a written account of each sale, which account shall set forth, among other things, (a) the purchaser’s name and address, (b) the number of Units purchased by the purchaser, (c) the amount paid therefor by the
purchaser, (d) whether the consideration received from the purchaser was in the form of a check, draft or money order, (e) the purchaser’s social security or tax identification number and (f) such other information as will enable
the Escrow Agent to attribute to a particular purchaser all proceeds received by the Escrow Agent. The Escrow Agent agrees to hold all monies so deposited in the Escrow Account (the “Escrow Amount”) in escrow in accordance with the terms
hereof until authorized to disburse such monies under the terms of this Agreement. 
 4. Disbursements from the Escrow
Account. In the event that the Escrow Agent does not receive at least $12,000,000 in Offering Proceeds prior to the termination of the Escrow Period, or if IAA and the Company notify the Escrow Agent that the Offering has been terminated,
the Escrow Agent shall promptly refund to each purchaser the amount of Offering 

  
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Proceeds held in the Escrow Account for such purchaser, without payment of interest, and the Escrow Agent shall notify the Company and IAA of its distribution of the funds. The Offering Proceeds
returned to each purchaser shall be free and clear of any and all claims of the Company or any of its creditors. 
 In the event that the
Escrow Agent does receive at least $12,000,000 in Offering Proceeds prior to the termination of the Escrow Period, on the Closing Date (or as soon as practicable thereafter), the Escrow Agent shall disburse the Escrow Amount pursuant to the
provisions of Section 6; provided, however, that in no event will the Escrow Amount be released to the Company until such amount is received by the Escrow Agent in collected funds. For purposes of this Agreement, the term “collected
funds” shall mean all funds, including fed funds, received by the Escrow Agent which have cleared normal banking channels. 
 5.
Collection Procedure. 
 (a) The Escrow Agent is hereby authorized to deposit each check in the Escrow Account. 

(b) In the event that any check paid by a purchaser and deposited in the Escrow Account shall be returned, the Escrow Agent shall notify IAA
by telephone of such occurrence and advise it of the name of the purchaser, the amount of the check returned, and any other pertinent information. The Escrow Agent shall then transmit the returned check directly to the purchaser and shall transmit
the statement previously delivered by the Sales Agent relating to such purchase to the Sales Agent. 
 (c) If the Escrow Agent receives
written notice from the Company or IAA that the Company or a Sales Agent, as applicable, has rejected any purchase of Units for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue a refund check to the rejected
purchaser. If the Escrow Agent receives written notice from IAA that any Sales Agent has rejected any purchase of Units for which the Escrow Agent has not yet collected funds but has submitted the purchaser’s check for collection, the Escrow
Agent shall promptly issue a check in the amount of the purchaser’s check to the rejected purchaser after the Escrow Agent has cleared such funds. If the Escrow Agent receives written notice from the Company or IAA, as applicable, that the
Company or a Sales Agent, as applicable, has rejected any purchase of Units for which the Escrow Agent has not yet submitted the rejected purchaser’s check for collection, the Escrow Agent shall promptly remit the purchaser’s check
directly to the purchaser. 
 6. Delivery of Escrow Account. 

In the event that the Escrow Agent receives at least $12,000,000 in Offering Proceeds prior to the termination of the Escrow Period as provided
in Section 4, then on or prior 

  
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to the Closing Date, IAA and the Company shall provide the Escrow Agent with a statement, executed by IAA and the Company, containing the following information: 

(i) The total number of Units sold by the Sales Agent directly to purchasers and a list containing the name of each purchaser, the number of
Units purchased by each purchaser, and a specification of the manner in which the Units will be issued by the Company; and 
 (ii) A
calculation by IAA and the Company as to the manner in which the Escrow Account should be distributed to the Company and the Sales Agent and, in the event of oversubscription or rejection of certain purchasers, the aggregate amount to be returned to
individual purchasers and a listing of the exact amount to be returned to each such purchaser. 
 The Escrow Agent shall hold the Escrow
Amount and distribute it in accordance with the above-described statement on the Closing Date (or as soon as practicable thereafter) or such later date that it receives the above-described statement (or as soon as practicable thereafter). 

7. Investment of Escrow Account. 

(a) The Escrow Agent shall deposit funds received from purchasers in the Escrow Account. 

(b) The Escrow Agent shall invest all funds held pursuant to this Agreement in the SunTrust Non-Interest Deposit Option. As of the date of
this Escrow Agreement, the investments in the SunTrust Non-Interest Deposit Option are insured, subject to the applicable rules and regulations of the Federal Deposit Insurance Corporation (the “FDIC”), in the standard FDIC insurance
amount of $250,000, including principal and accrued interest. Deposits in the SunTrust Non-Interest Deposit Option are not secured. The Company and IAA (individually and as representative of each Sales Agent) represent and warrant that the
investment as set forth in Exhibit C is a legal investment under applicable law, including Rule 15c2-4 under the Securities Exchange Act of 1934, and that the Company and IAA will not direct that the funds be invested in any investment that would
not be a legal investment under applicable law for such funds. The Company and IAA recognize and agree that the Escrow Agent will not provide supervision, recommendations or advice relating to the investment of moneys held hereunder or the purchase,
sale, retention or other disposition of any investment, and the Escrow Agent shall not be liable to the Company, Sales Agent or any other person or entity for any loss incurred in connection with any such investment. The Escrow Agent is hereby
authorized to execute purchases and sales of investments through the facilities of its own trading or capital markets operations or those of any affiliated entity. The Escrow Agent or any of its affiliates may receive compensation with respect to
any investment directed hereunder including without limitation charging any applicable agency fee in connection with each transaction. The Escrow Agent shall use its best efforts to invest funds on a timely basis upon receipt of such funds;
provided, however, that the Escrow Agent shall in no event be liable for compensation to the Company, Sales Agent or any other person or entity related to funds which are held un-invested or funds which are not invested timely. The Escrow Agent is
authorized and directed to sell or redeem any investments as it deems necessary to make any payments or distributions required under this Agreement. 

8. Closing Date. As used herein, the term “Closing Date” means the date of closing of the Offering as determined by
the Company and the Sales Agent. The Company and IAA shall give the Escrow Agent written notice of the Closing Date. The Escrow Agent shall be entitled to assume conclusively and without inquiry that the Closing Date has not occurred until it
receives such written notice. 

  
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 9. Compensation of Escrow Agent. The Company agrees to pay to the Escrow Agent
compensation, and to reimburse the Escrow Agent for costs and expenses, all in accordance with the provisions of Exhibit B hereto, which is incorporated herein by reference and made a part hereof. The fee agreed upon for the services rendered
hereunder is intended as full compensation for the Escrow Agent’s services as contemplated by this Agreement; provided, however, that in the event that the conditions for the disbursement of funds are not fulfilled, or the Escrow Agent renders
any service not contemplated in this Agreement, or there is any assignment of interest in the subject matter of this Agreement or any material modification hereof, or if any material controversy arises hereunder, or the Escrow Agent is made a party
to any litigation pertaining to this Agreement or the subject matter hereof, then the Company shall compensate the Escrow Agent for such extraordinary services and reimburse the Escrow Agent for all costs and expenses, including reasonable
attorneys’ fees and expenses, occasioned by any such delay, controversy, litigation or event. To the extent permitted by applicable law, the Escrow Agent shall have, and is hereby granted, a prior lien upon and first priority security interest
in the Offering Proceeds held hereunder with respect to its unpaid fees, non-reimbursed expenses and unsatisfied indemnification rights, superior to the interests of any other persons or entities and without judicial action to foreclose such lien
and security interest, and the Escrow Agent shall have and is hereby granted the right to set off and deduct any unpaid fees, non-reimbursed expenses and unsatisfied indemnification rights from the Offering Proceeds held hereunder. The provisions of
this section shall survive the termination of this Agreement and any resignation or removal of the Escrow Agent. 
 10. Duties of
Escrow Agent; Indemnification. 
 (a) This Agreement expressly and exclusively sets forth the duties of the Escrow Agent with respect
to any and all matters pertinent hereto, which duties shall be deemed purely ministerial in nature, and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. The Escrow Agent shall in no event be deemed to be a
fiduciary to the Company, IAA, any Sales Agent, the investors, or any other person or entity under this Agreement. The permissive rights of the Escrow Agent to do things enumerated in this Agreement shall not be construed as duties. In performing
its duties under this Agreement, or upon the claimed failure to perform its duties, the Escrow Agent shall not be liable for any damages, losses or expenses other than damages, losses or expenses which have been finally adjudicated by a court of
competent jurisdiction to have directly resulted from the Escrow Agent’s willful misconduct or gross negligence. In no event shall the Escrow Agent be liable for incidental, indirect, special, consequential or punitive damages of any kind
whatsoever (including but not limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action. The Escrow Agent shall not be responsible or liable for the failure of
the Company, IAA or any Sales Agent to perform in accordance with this Agreement. The Escrow Agent shall have no liability with respect to the transfer or distribution of any funds affected by the Escrow Agent pursuant to wiring or transfer
instructions provided to the Escrow Agent in accordance with the provisions of this Agreement. The Escrow Agent shall not be obligated to take any legal action or to commence any proceedings in connection with this Agreement or any property held
hereunder or to appear in, prosecute or defend in any such legal action or proceedings. 

  
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 (b) No provision of this Agreement shall require the Escrow Agent to risk or advance its own
funds or otherwise incur any financial liability or potential financial liability in the performance of its duties or the exercise of its rights under this Agreement. 

(c) This Agreement constitutes the entire agreement between the Escrow Agent and the Company in connection with the subject matter of this
Agreement, and no other agreement entered into by the Company, IAA or any Sales Agent related to the subject matter of this Agreement, shall be considered as adopted or binding, in whole or in part, upon the Escrow Agent notwithstanding that any
such other agreement may be deposited with the Escrow Agent or the Escrow Agent may have knowledge thereof. 
 (d) The Escrow Agent shall in
no way be responsible for nor shall it be its duty to notify the Company, IAA, any Sales Agent or any other person or entity interested in this Agreement of any payment required or maturity occurring under this Agreement or under the terms of any
instrument deposited herewith unless such notice is explicitly provided for in this Agreement. 
 (e) The Escrow Agent shall be protected in
acting upon any written instruction, notice, request, waiver, consent, certificate, receipt, authorization, power of attorney or other paper or document which the Escrow Agent in good faith believes to be genuine and what it purports to be,
including, but not limited to, items directing investment or non-investment of funds, items requesting or authorizing release, disbursement or retainage of the subject matter of this Agreement and items amending the terms of this Agreement. The
Escrow Agent shall be under no duty or obligation to inquire into or investigate the validity, accuracy or content of any such notice, request, waiver, consent, certificate, receipt, authorization, power of attorney or other paper or document. The
Escrow Agent shall have no duty or obligation to make any formulaic calculations of any kind hereunder. 
 (f) The Escrow Agent may execute
any of its powers and perform any of its duties hereunder directly or through affiliates or agents. The Escrow Agent shall be entitled to seek the advice of legal counsel with respect to any matter arising under this Agreement and the Escrow Agent
shall have no liability and shall be fully protected with respect to any action taken or omitted pursuant to the advice of such legal counsel. The Company shall be liable for, and shall promptly pay, upon demand by the Escrow Agent, the reasonable
and documented fees and expenses of any such legal counsel. 
 (g) The Company and IAA (individually and as representative of each Sales
Agent ) represent and warrant to the Escrow Agent that there is no security interest in the Offering Proceeds or the earnings thereon or any part of the Offering Proceeds or such earnings; no financing statement under the Uniform Commercial Code of
any jurisdiction is on file in any jurisdiction claiming a security interest in or describing, whether specifically or generally, the Offering Proceeds or the earnings thereon or any part of the Offering Proceeds or such earnings; and the Escrow
Agent shall have no responsibility at any time to ascertain 

  
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whether or not any security interest exists in the Offering Proceeds or the earnings thereon or any part of the Offering Proceeds or such earnings or to file any financing statement under the
Uniform Commercial Code of any jurisdiction with respect to the Offering Proceeds, the earnings thereon or any part thereof. 
 (h) In the
event of any disagreement resulting in adverse claims or demands being made in connection with the matters covered by this Agreement, or in the event that the Escrow Agent, in good faith, is in doubt as to what action it should take hereunder, the
Escrow Agent may, at its option, refuse to comply with any claims or demands on it, or refuse to take any other action hereunder, so long as such disagreement continues or such doubt exists, and in any such event, the Escrow Agent shall not be or
become liable in any way or to the Company, IAA, any Sales Agent, any investor or any other person or entity for its failure or refusal to act, and the Escrow Agent shall be entitled to continue to refrain from acting until (i) the rights of
the Company, IAA, the Sales Agent, the investor and all other interested persons and entities shall have been fully and finally adjudicated by a court of competent jurisdiction, or (ii) all differences shall have been adjudged and all doubt
resolved by agreement among the Company, IAA, the Sales Agent and all other interested persons and entities, and the Escrow Agent shall have been notified thereof in writing signed by the Company and all such persons and entities. Notwithstanding
the preceding, the Escrow Agent may in its discretion obey the order, judgment, decree or levy of any court, whether with or without jurisdiction, or of an agency of the United States or any political subdivision thereof, or of any agency of any
State of the United States or of any political subdivision of any thereof, and the Escrow Agent is hereby authorized in its sole discretion to comply with and obey any such orders, judgments, decrees or levies. The rights of the Escrow Agent under
this sub-paragraph are cumulative of all other rights which it may have by law or otherwise. 
 In the event of any disagreement or doubt,
as described above, the Escrow Agent shall have the right, in addition to the rights described above and at the election of the Escrow Agent, to tender into the registry or custody of any court having jurisdiction, all funds and property held under
this Agreement, and the Escrow Agent shall have the right to take such other legal action as may be appropriate or necessary, in the sole discretion of the Escrow Agent. Upon such tender, the Escrow Agent shall be discharged from all further duties
under this Agreement; provided, however, that any such action of the Escrow Agent shall not deprive the Escrow Agent of its compensation and right to reimbursement of expenses hereunder arising prior to such action and discharge of the Escrow Agent
of its duties hereunder. 
 (i) The Escrow Agent may resign at any time from its obligations under this Agreement by providing written
notice to the Company and IAA. Such resignation shall be effective on the date set forth in such written notice, which shall be no earlier than thirty (30) days after such written notice has been furnished. In such event, the Company and IAA
shall promptly appoint a successor escrow agent. In the event no successor escrow agent has been appointed on or prior to the date such resignation is to become effective, the Escrow Agent shall be entitled to tender into the custody of any court of
competent jurisdiction all funds and other property then held by the Escrow Agent hereunder and the Escrow Agent shall thereupon be relieved of all further duties and obligations under this Agreement; provided, however, that any such action of the
Escrow Agent shall not deprive the Escrow Agent of its compensation and 

  
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right to reimbursement of expenses hereunder arising prior to such action and discharge of the Escrow Agent of its duties hereunder. The Escrow Agent shall have no responsibility for the
appointment of a successor escrow agent hereunder. 
 (j) Any entity into which the Escrow Agent may be merged or converted or with which it
may be consolidated, or any entity to which all or substantially all the escrow business of the Escrow Agent may be transferred, shall be the Escrow Agent under this Agreement without further act. 

(k) The Company and IAA (individually and as representative of each Sales Agent) agree to jointly and severally indemnify, defend and hold
harmless the Escrow Agent and each of the Escrow Agent’s officers, directors, agents and employees (the “Indemnified Parties”) from and against any and all losses, liabilities, claims, damages, expenses and costs (including, without
limitation, attorneys’ fees and expenses) of every nature whatsoever (collectively, “Losses”) which any such Indemnified Party may incur and which arise directly or indirectly from this Agreement or which arise directly or indirectly
by virtue of the Escrow Agent’s undertaking to serve as Escrow Agent hereunder; provided, however, that no Indemnified Party shall be entitled to indemnity with respect to Losses that have been finally adjudicated by a court of competent
jurisdiction to have been directly caused by such Indemnified Party’s gross negligence or willful misconduct. The provisions of this section shall survive the termination of this Agreement and any resignation or removal of the Escrow Agent.

 (l) The Company and IAA (individually and as representative of each Sales Agent ) acknowledge that the Escrow Agent is serving as escrow
agent for the limited purposes set forth herein and represent, covenant and warrant to the Escrow Agent that no statement or representation, whether oral or in writing, has been or will be made to any purchaser or potential purchaser to the effect
that the Escrow Agent has investigated the desirability or advisability of investment in the Units or approved, endorsed or passed upon the merits of such investment or is otherwise involved in any manner with the transactions contemplated hereby,
other than as escrow agent under this Agreement. It is further agreed that neither the Company nor IAA nor any Sales Agent shall not use or permit the use of the name “SunTrust,” “SunTrust Bank,” “SunTrust Banks, Inc.”
or any variation thereof in any sales presentation, placement or offering memorandum or literature pertaining directly or indirectly to the Offering except strictly in the context of the duties of the Escrow Agent as escrow agent under this
Agreement. Any breach or violation of the paragraph shall be grounds for immediate termination of this Agreement by the Escrow Agent. 
 (m)
The Escrow Agent shall have no duty or responsibility for determining whether the Units or the offer and sale thereof conform to the requirements of applicable Federal or state securities laws, including but not limited to the Securities Act of
1933, as amended, or the Securities Exchange Act of 1934, as amended. The Company and IAA (individually and as representative of each Sales Agent) represent and warrant to the Escrow Agent that the Units and the Offering will comply in all respects
with applicable Federal and state securities laws and further represent and warrant that the Company, IAA and the Sales Agent have obtained and acted upon the advice of legal counsel with respect to such compliance with applicable Federal and state
securities laws. The Company and IAA (individually and as representative of each 

  
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Sales Agent) acknowledge that the Escrow Agent has not participated in the preparation or review of any sales or offering material relating to the Offering or the Units. In addition to any other
indemnities provided for in this Agreement, the Company and IAA (individually and as representative of each Sales Agent) jointly and severally agree to defend, indemnify and hold harmless the Indemnified Parties from and against any and all Losses
incurred by any of the Indemnified Parties which directly or indirectly arise from any violation or alleged violation of any Federal or state securities laws; provided, however, that no Indemnified Party shall have the right to be indemnified
hereunder with respect to any Losses that have been finally adjudicated by a court of competent jurisdiction to have been directly caused by such Indemnified Party’s gross negligence or willful misconduct. The Company and IAA (individually and
as representative of each Sales Agent) hereby agree that the indemnifications and protections afforded the Escrow Agent and the other Indemnified Parties in this section shall survive the termination of this Agreement and any resignation or removal
of the Escrow Agent. 
 (n) The Escrow Agent and any director, officer or employee of the Escrow Agent may become pecuniarily interested in
any transaction in which the Company, IAA or any Sales Agent may be interested and may contract and lend money to the Company, IAA and any Sales Agent and otherwise act as fully and freely as though it were not escrow agent under this Agreement.
Nothing herein shall preclude the Escrow Agent from acting in any other capacity for the Company, IAA or any Sales Agent. 
 11.
Notices. All notices given hereunder will be in writing and delivered by registered or certified mail, return receipt requested, postage prepaid, hand-delivery, overnight courier, or confirmed facsimile or electronic mail transmission to
the parties at the following addresses, or such other address as a party may specify by proper notice: 
 To the Company: 

LM Funding America, Inc. 
 302
Knights Run Avenue, Suite 1000 
 Tampa, Florida 33602 

Attention: Stephen Weclew 

Facsimile: (813) 221-7909 

Email: sweclew@lmfunding.com 

With a copy to: 

Foley & Lardner LLP 

100 North Tampa Street, Suite 2700 

Tampa, Florida 33602 
 Attention:
Curt P. Creely, Esq. 
 Facsimile: (813) 221-4210 

Email: ccreely@foley.com 

  
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 To the IAA or any Sales Agent: 

International Assets Advisory, LLC 

390 North Orange Avenue, #750 

Orlando, Florida 32801 

Attention: Mr. Edward Cofrancesco 

Facsimile: : (407) 254-1505 

Email: ecofrancesco@iaac.com 

With a copy to: 
 Johnson, Pope,
Bokor, Ruppel & Burns, LLP 
 911 Chestnut Street 

Clearwater, Florida 33756 

Attention: Michael T. Cronin, Esq. 

Facsimile: (727) 462-0365 

Email: MikeC@jpfirm.com 
 To the
Escrow Agent: 
 SunTrust Bank 

Attn: Escrow Services 
 919 East
Main Street, 7th Floor 
 Richmond, Virginia 23219 

Client Manager: Matthew Ward, Vice President 

Phone: 804-782-7182 
 Facsimile:
804-225-7141 
 Email: Matthew.Ward@Suntrust.com 

Any party hereto may unilaterally designate a different address by giving notice of each change in the manner specified above to each other
party hereto. Notwithstanding anything to the contrary herein provided, the Escrow Agent shall not be deemed to have received any notice, request, report or other communication hereunder prior to the Escrow Agent’s actual receipt thereof. 

12. Successors and Assigns; Amendment. 

The rights created by this Agreement shall inure to the benefit of and the obligations created hereby shall be binding upon the successors and
assigns of the Escrow Agent, IAA and the Company; provided, however, that except as provided in Section 10(j) neither this Agreement nor any rights or obligations hereunder may be assigned by any party hereto without the express written consent
of the other party hereto. This Agreement may not be amended without the written consent of all parties in writing. 

  
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 13. Construction. 

This Agreement shall be construed and enforced according to the laws of the State of Georgia. 

14. Severability. 

If any provision of this Agreement, or the application thereof, is for any reason held to any extent to be invalid, illegal or unenforceable,
then the remainder of this Agreement and the application thereof will nevertheless remain in full force and effect so long as the economic and legal substance of the transactions contemplated by this Agreement are not affected in any manner
materially adverse to any party hereto. Upon such determination that any provision is invalid, illegal or unenforceable, the parties hereto agree to replace such provision with a valid, legal and enforceable provision that will achieve, to the
maximum extent legally permissible, the economic, business and other purposes of such provision. 
 15. Term. 

This Agreement shall terminate and the Escrow Agent shall be discharged of all responsibilities hereunder at such time as the Escrow Agent
shall have disbursed all Offering Proceeds and any earnings thereon in accordance with the provisions of this Agreement; provided, however, that the provisions of Sections 9 and 10 hereof shall survive any termination of this Agreement and any
resignation or removal of the Escrow Agent. 
 16. Counterparts. 

This Agreement may be executed in separate facsimile or other electronic counterparts, each of which when executed and delivered shall be an
original, but all such counterparts shall together constitute but one and the same instrument. 
 17. Authorized Signatures.

 Contemporaneously with the execution and delivery of this Agreement and, if necessary, from time to time thereafter, the Company and IAA
shall execute and deliver to the Escrow Agent a Certificate of Incumbency substantially in the form of Exhibit A hereto (a “Certificate of Incumbency”) for the purpose of establishing the identity and authority of persons entitled to issue
notices, instructions or directions to the Escrow Agent on behalf of the Company and IAA. Until such time as the Escrow Agent shall receive an amended Certificate of Incumbency replacing any Certificate of Incumbency theretofore delivered to the
Escrow Agent, the Escrow Agent shall be fully protected in relying, without further inquiry, on the most recent Certificate of Incumbency furnished to the Escrow Agent. 

18. Representative of the Sales Agent. IAA represents and warrants to the Escrow Agent that it is duly appointed and fully
authorized by each Sales Agent pursuant to the Sales Agency Agreement to act as the representative of such Sales Agent, as contemplated by the terms of this Agreement, and that each Sales Agent shall also be liable for each obligation

  
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undertaken hereunder by IAA as representative of such Sales Agent, including, without limitation, the obligations to indemnify the Escrow Agent pursuant to the provisions of Sections 10(k) and
(m) hereof. The Escrow Agent shall not be required to act upon or take notice of any directions, demands, notices, communications or instructions provided to the Escrow Agent by any Sales Agent (other than IAA), but shall act upon and take
notice solely of directions, demands, notices, communications and instructions provided to the Escrow Agent by IAA. The Escrow Agent undertakes no duty or obligation, express or implied, to any Sales Agent (other than IAA) under or by reason of this
Agreement. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in their
respective names, all as of the date first above written. 
  

			
	INTERNATIONAL ASSETS ADVISORY, LLC
		
	By:	 	  

	Name:	 	Edward Cofrancesco
	Title:	 	President
	
	LM FUNDING AMERICA, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SUNTRUST BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

  
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 EXHIBIT A 

Certificate of Incumbency 

(List of Authorized Representatives) 
  

			
	 Client Name:
	    	LM Funding America, Inc.

 As an Authorized Officer of the above referenced entity, I hereby certify that each person listed below is an authorized signor
for such entity, and that the title and signature appearing beside each name is true and correct. 
  

							
	 Name
	  	 Title
	  	 Signature
	  	Contact Number
		  	Chief Executive Officer	  		  	(            )                 

 IN WITNESS WHEREOF, this certificate has been executed by a duly authorized officer on: 

 

					
	
                  
   
	 	.	  	
	Date	 		  	

  

					
	By:	 	  

					
	Name (print):	 	  

					
	Its:	 	Secretary

 SCHEDULE I 

LIST OF SALES AGENTS 

 EXHIBIT A 

Certificate of Incumbency 

(List of Authorized Representatives) 
  

			
	 Client Name:
	    	International Assets Advisory, LLC

 As an Authorized Officer of the above referenced entity, I hereby certify that each person listed below is an authorized
signor for such entity, and that the title and signature appearing beside each name is true and correct. 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Contact Number

	 Edward Cofrancesco
	  	President	  		  	(407) 254-1574

 IN WITNESS WHEREOF, this certificate has been executed by a duly authorized officer on: 

 

					
	
                  
   
	 	.	  	
	Date	 		  	

  

					
	By:	 	  

					
	Name (print):	 	  

					
	Its:	 	  

 EXHIBIT B 

Schedule of Fees & Expenses 
  

			
	Acceptance/Legal Review Fee:	  	$600.00 – one time only payable at the time of signing the Escrow Agreement

 The Legal Review Fee includes review of all related documents and accepting the appointment of Escrow Agent on behalf of
SunTrust Bank. The fee also includes setting up the required account(s) and accounting records, document filing, and coordinating the receipt of funds/assets for deposit to the Escrow Account. This is a one-time fee payable upon execution of the
Escrow Agreement. As soon as SunTrust Bank’s attorney begins to review the Escrow Agreement, the legal review fee is subject to payment regardless if the Parties decide to appoint a different escrow agent or a decision is made that the
Escrow Agreement is not needed. 
  

			
	Administration Fee:	  	$3,500 – payable at the time of signing the Escrow Agreement and on the anniversary date thereafter, if applicable

 The Administration Fee includes providing routine and standard services of an Escrow Agent. The fee includes administering the
escrow account, performing investment transactions, processing cash transactions (including wires and check processing), disbursing funds in accordance with the Agreement (note any pricing considerations below), and providing trust account
statements to the Parties for a twelve (12) month period. If the account remains open beyond the twelve (12) month term, the Parties will be invoiced each year on the anniversary date of the execution of the Escrow Agreement. Extraordinary
expenses, including legal counsel fees, will be billed as out-of-pocket. The Administration Fee is due upon execution of the Escrow Agreement. The fees shall be deemed earned in full upon receipt by the Escrow Agent, and no portion shall be
refundable for any reason, including without limitation, termination of the agreement. 
  

			
	Out-of-Pocket Expenses:	  	At Cost

 Out-of-pocket expenses such as, but not limited to, postage, courier, overnight mail, wire transfer, travel, legal
(out-of-pocket to counsel) or accounting, will be billed at cost. 
 Note: This fee schedule is based on the assumption that the escrowed funds will be
invested in the SunTrust Non-Interest Deposit Option. If any other investment options are chosen, this fee schedule will become subject to change. 

 EXHIBIT C 

WIRE TRANSFER INSTRUCTIONSForm of Selected Dealer Agreement

 Exhibit 10.12 

LM FUNDING AMERICA, INC. 

Public Offering of Units 

Minimum 1,200,000 Units 

Maximum 2,000,000 Units 

SELECTED DEALER AGREEMENT 

                    , 2015 

Ladies and Gentlemen: 
 1. We intend to sell, as
sales agent for LM Funding America, Inc. (the “Company”), on a “best efforts basis” a minimum of 1,200,000 units and a maximum of 2,000,000 units, with each unit consisting of one common share, $0.001 par value, and one warrant,
of the Company (the “Units”). The Units and the terms under which they are to be offered for sale are more particularly described in the Company’s preliminary prospectus for the Units dated
                    , 2015, which will be superseded by the final prospectus for the Units (the “Prospectus”). 

2. We intend to offer at the Public Offering Price (as defined below), subject to the terms and conditions hereof, a portion of the Units for
sale to the customers of you and certain other dealers (the “Selected Dealers”), that are actually engaged in the investment banking or securities business and that are members in good standing of the Financial Industry Regulatory
Authority (“FINRA”) that are registered with FINRA and maintain net capital pursuant to Rule 15c3-1 promulgated under the Securities Exchange Act of 1934, as amended (the “1934 Act”), of not less than $50,000. You hereby agree to
comply with the FINRA Conduct Rules and, if you are a foreign dealer and not a FINRA member, you hereby agree to comply with the FINRA Rule 5130 relating to restrictions on the purchase and sale of initial equity public offerings and comply, as
though you are a FINRA member, with the provisions of Rules 2730, 2740, 2750 and 5190 of the FINRA Conduct Rules and with Rule 2420 of the FINRA Conduct Rules as that rule applies to a nonmember foreign dealer. 

3. The Units are to be offered to the public by us, as sales agent for the Company, in accordance with the terms of the offering (the
“Offering”) set forth in the Prospectus and the Sales Agency Agreement between us and the Company in the form attached hereto as Exhibit A. In consideration for assisting in the sale of the Units, you will be paid a sales commission
of four and one-half percent (4.5%) of the Public Offering Price, for each Unit sold by you. We have advised you that the Public Offering Price per Unit is $10.00. 

4. If you desire to purchase any of the Units as agent for your customers, your application should reach us promptly by electronic mail at our
office at the address given below. We reserve the right to reject subscriptions in whole or in part, to make allotments and to close the subscription books at any time without notice. The Units allocated to you will be confirmed, subject to the
terms and conditions of this Agreement. 
 5. Any Units purchased through you shall be purchased for your customers from the Company under
the terms of this Agreement only upon orders already received from potential purchasers of the Units in accordance with the terms of the Offering set forth in the Prospectus, subject to the securities or blue sky laws of the various states or other
jurisdictions. 

 6. You agree to advise us from time to time, upon request, of the amount of Units requested by
you hereunder and remaining unsold at the time of such request, and, if in our opinion such Units shall be needed to make delivery of the Units sold, you will, forthwith upon our request, reduce the number of Units allocated to you to an amount
equal to the number of Units actually purchased by your customers. You also agree to advise us as to the number of round lot purchasers your Unit purchase represents and agree that we may accept a purchase request in whole or in part, among other
reasons, to meet minimum round lot holder requirements. 
 7. No expense shall be charged to you. A single transfer tax, if payable, upon the
sale of the Units to you on behalf of your customers will be paid when such Units are delivered. However, you shall pay any transfer tax on sales of Units by you and you shall pay your proportionate share of any transfer tax (other than the single
transfer tax described above) in the event that any such tax shall from time to time be assessed against you and other Selected Dealers as a group or otherwise. 

8. Neither you nor any other person is or has been authorized to give any information or to make any representation in connection with the sale
of the Units other than as contained in the Prospectus. 
 9. On becoming a Selected Dealer, and in offering and selling the Units, you agree
to comply with all applicable requirements of the Securities Act of 1933, as amended (the “1933 Act”), and the 1934 Act. You confirm that you are familiar with (i) Rule 15c2-8 under the 1934 Act relating to the distribution of
preliminary and final prospectuses for securities of an issuer (whether or not the issuer is subject to the reporting requirements of Section 13 or 15(d) of the 1934 Act, (ii) Rule 15c2-4 under the 1934 Act, (iii) Rule 15c6-1 under
the 1934 Act, and (iv) FINRA Rule 5130 relating to restrictions on the purchase and sale of initial equity public offerings, and confirm that you have complied with and will comply with said rules and interpretations. You confirm also that you
are familiar with Release No. 4968 of the Securities and Exchange Commission under the 1933 Act and that you have complied and will comply with the requirements therein relating to the distribution of copies of the Preliminary Prospectus
relating to the Units. You confirm that you are (a) registered as a broker-dealer under the 1934 Act; (b) registered with FINRA and maintain net capital pursuant to Rule 15c3-1 promulgated under the 1934 Act of not less than $50,000;
(c) qualified to act as a broker-dealer in the states or other jurisdictions in which you offer the Units; and (d) will maintain such registrations, qualifications, and memberships throughout the term of this Agreement. 

10. (a) Neither you nor any of your officers, directors, affiliates or registered representatives (collectively “Related Persons”),
have any association or affiliation with any officer or director of the Company, of any beneficial owner of five percent (5%) or more of any class of the Company’s securities, and of any beneficial owner of the Company’s unregistered
securities that were acquired during the 180 day period immediately preceding the required filing date of this offering, as described in FINRA Corporate Finance Rule 5110(b)(6)(iii). 

(b) Neither you nor any Related Person has made a loan or extended credit to the Company. Neither you nor any Related Persons will or have
acquired any of the Company’s securities during the 180-day period preceding the required filing date of this Offering through the 90-day period following the effective date of the Offering, including but not limited to acquisitions in
connection with the corporate reorganization transactions described in the Prospectus and the “Part II—Recent Sales of Unregistered Securities” section of the Registration Statement. No portion of the Offering Proceeds has or will be
directed to us or a Related Person. 
 (c) You agree that any advances you have or may receive will be reimbursed to the Company to the
extent not actually incurred pursuant to FINRA Corporate Finance Rule 5110(f)(2)(C). 

  
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 11. We hereby confirm that we will make available to you such number of copies of the Prospectus
(as amended or supplemented) as you may reasonably request for the purposes contemplated by the 1933 Act or the 1934 Act, or the rules and regulations thereunder. 

12. Upon request, you will be informed as to the states and other jurisdictions in which, and limitations, if any, pursuant to which, we have
been advised that the Units are qualified for sale under the respective securities or blue sky laws of such states and other jurisdictions, but we do not assume any obligation or responsibility as to the right of any Selected Dealer to sell the
Units in any state or other jurisdiction or as to the eligibility of the Units for sale therein or to any particular prospective purchaser herein. You agree that you will not offer or sell the Units in any state or jurisdiction or to any purchaser
in which or to whom the Units are not eligible to be sold. You agree that you will not offer or sell the Units in any state or jurisdiction except the states in which you are licensed as a broker-dealer under the laws of such state. You agree that
you will notify us promptly of any states in which you would desire to sell the Units. 
 13. You agree that you will not, at any time prior
to the completion by us of distribution of the Units acquired by you pursuant to this Agreement, bid for, purchase, sell or attempt to induce others to purchase or sell, directly or indirectly, any capital stock of the Company (the “Capital
Stock”) other than (i) as provided for in this Agreement, or (ii) purchases or sales of any Capital Stock as broker on unsolicited orders for the account of others. 

14. No Selected Dealer is authorized to act as our agent or agent of the Company or otherwise to act on our behalf or on behalf of the Company
in offering or selling the Units to the public or otherwise to furnish any information or make any representation except as contained in the Prospectus. No Selected Dealer shall use any supplemental sales literature of any kind without our prior
written approval. 
 15. Nothing will constitute the Selected Dealers an association or other separate entity or partners with us, or with
each other, but you will be responsible for your share of any liability or expense based on any claim to the contrary. We shall not be under any liability for or in respect of value, validity or form of the Units, of the delivery of the certificates
for the Units or the performance by anyone of any agreement on its part, or the qualification of the Units for sale under the laws of any jurisdiction, or for or in respect to any other matter relating to this Agreement, except for the lack of good
faith and for obligations expressly assumed by us in this Agreement and no obligation on our part shall be implied herefrom. The foregoing provisions shall not be deemed a waiver of any liability imposed under the 1933 Act. 

16. We will notify you of the exact date (the “Closing Date”) on which the sale of the Units (“Closing”) will occur. Unless
we advise you to the contrary prior to Closing, payment for Units purchased through you hereunder shall be made at the Public Offering Price (without any deduction for the selling commission due to you) by wire transfer of immediately available fed
funds no later than 2:00 p.m. eastern daylight savings time on the Closing Date to an escrow account (the “Escrow Account”), in accordance with the following instructions: 

  
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 ABA #: 

Credit Account
#:                     
 Account
Name:             

Attention:                     
            
 Further
Credit:                         

Telephone No.:             

All Units placed by you will be credited to your DTC participant account at Closing. No physical certificates will be delivered. On the
Closing Date, SunTrust Bank (the “Escrow Agent”) will send your selling commission to you via wire transfer of immediately available funds. 

17. You understand that the Offering will be made on a best efforts, minimum/maximum basis. Upon receipt of any and all checks, drafts and
money orders made payable to SunTrust Bank, N.A., as Escrow Agent for LM Funding America, Inc., received from prospective purchasers of the Units, you shall deliver the same to the Escrow Agent for deposit in the Escrow Account by noon of the next
business day following the receipt, together with a written account of each purchaser that sets forth, among other things, (i) the purchaser’s name and address, (ii) the number of Units purchased by the purchaser, (iii) the
amount paid therefor by the purchaser, (iv) whether the consideration received from the purchaser was in the form of a check, draft or money order, and (v) the purchaser’s social security or tax identification number. This information
will not be made available to us by the Escrow Agent except to the extent necessary in connection with any claim relating to the sale of the Units. Any checks that are received that are made payable to any party other than the Escrow Agent shall be
rejected and promptly returned to the purchaser that submitted the check. You agree that you are bound by the terms of the Escrow Agreement executed by us, the Company and the Escrow Agent. 

18. Notices to us should be addressed to: 

Mr. Edward Cofrancesco, President 

International Assets Advisory, LLC 

390 North Orange Avenue, #750 

Orlando, Florida 32801 

Phone:  (407) 254-1574 

Fax:
                             

Email: ecofrancesco@iaac.com 
 Notices to
you shall be deemed to have been duly given if telegraphed or mailed to you at the address to which this letter is addressed. 
 19. This
Agreement shall be governed by and construed in accordance with the laws of the State of Florida without giving effect to the choice of law or conflicts of law principles thereof. 

20. If you desire to reserve any Units for purchase by your customers, please confirm your application by signing and returning to us your
confirmation on the duplicate copy of this letter enclosed herewith, even though you may have previously advised us thereof, by telephone, telegraph or telecopy. 

21. You acknowledge and agree that you will not place, sell or deliver any of the Units allocated to you to delivery versus payment accounts or
accounts over which you are exercising discretion. 

  
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 22. This Agreement may not be assigned by the Selected Dealer with our prior written consent.
This Agreement will terminate upon the termination of the Offering, except that either party may terminate this Agreement at any time. 
  

			
	Very truly yours,
	
	INTERNATIONAL ASSETS ADVISORY, LLC
		
	By:	 	  

		 	Edward Cofrancesco
		 	President

  

			
	 ACCEPTED AND AGREED:
  

	Name of Selected Dealer
		
	By:	 	  

	Print Name:	 	  

	Title:	 	  

  
 5 

                          
  , 2015 
 International Assets Advisory, LLC 

390 North Orange Avenue, #750 
 Orlando, Florida 32801 

Attention:         Mr. Edward Cofrancesco 

We hereby request an allocation of              units (the “Units”) of LM
Funding America, Inc., for purchase by our customers in accordance with the terms and conditions stated in the foregoing letter. We hereby acknowledge receipt of the Prospectus referred to in the first paragraph thereof relating to said Units. We
further state that we have relied upon said Prospectus and upon no other statement whatsoever, whether written or oral. We confirm that we are a dealer actually engaged in the investment company or securities business and that we are a member in
good standing of the Financial Industry Regulatory Authority (“FINRA”) that is registered with FINRA and maintain net capital pursuant to Rule 15c3-1 promulgated under the Securities Exchange Act of 1934, as amended, of not less than
$50,000. We hereby agree to comply with the FINRA Conduct Rules, and, if we are a foreign dealer and not a FINRA member, we also agree to comply with FINRA Rule 5130 relating to restrictions on the purchase and sale of initial equity public
offerings and comply, as though we were FINRA members, with the provisions of Rules 2730, 2740, 2750 and 5190 of the FINRA Conduct Rules and with Rule 2420 of the FINRA Conduct Rules as that rule applies to a nonmember foreign dealer. 

We specifically acknowledge and agree that we will not place, sell or deliver any of the Units allocated to us to delivery versus payment
accounts. 
  

			
	  
 Name of Selected
Dealer

		
	By:	 	  

	Print Name:	 	  

	Title:	 	  

	Address:	 	  

  
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 Additional Information Attached 

Return Wire Instructions for Fee 

Return Wire Instructions for Purchases (if necessary) 

Name of Clearing Firm and DTC Account Number to Credit Units at Closing 

Return Wire Instructions for Fee: 
 (To be calculated at $ per
Unit times the number of Units placed. subject to final pricing determination.) ENTER YOUR WIRE INSTRUCTIONS SO WE CAN FORWARD YOU FILE SALES CREDIT TO YOU ON THE DAY OF CLOSING: 

Name of DTC Participant and DTC Account Number to Credit Units at Closing: 

Note: Units will arrive in your DTC Account upon closing from International Assets Advisory, LLC’s clearing firm —, DTC Account Number
        . 
 Return Wire Instructions for Purchases (if necessary): 

  
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