Document:

Exhibit

Exhibit 10.1

September 5, 2017

Mr. Varun Laroyia
[Home address redacted]

Dear Varun,

I am delighted to offer you the position of Chief Financial Officer & Executive Vice President of LKQ Corporation (LKQ). In this position, you will report to me, your office will be located at LKQ’s corporate headquarters in Chicago, IL, and your anticipated start date will be on or about October 1, 2017. Please note that this offer is confidential and is subject to the approval of the LKQ Board of Directors. Details of this offer are as follows:

Base Salary: Your bi-weekly base salary will be $19,230.77 ($500,000 annually) less required state and federal tax withholding and any other deductions you authorize to be withheld from your pay. 

Annual Bonus Plan: You will be a participant in the LKQ Management Incentive Plan (MIP) with a bonus opportunity of 35% at threshold, 50% at target, and 110% at maximum. Awards under this program are calculated as a percentage of your weighted-average base salary for the bonus year. Awards under this program are based on the earnings per share (EPS) goals established by the Compensation Committee each year, although the Committee has the discretion to use other metrics. Payments, if any, under this program are normally paid in the first quarter following the end of the bonus plan year. Notwithstanding the foregoing, all bonus awards are subject to the terms of the MIP, including but not limited to the right of LKQ to modify and/or terminate or replace this program at its discretion. For 2017, since you will be forfeiting your 2017 bonus with your current employer, in lieu of being eligible for a contingent award under the Company’s 2017 MIP, we will pay you a one-time bonus of $350,000, which will not be contingent on the achievement of goals and will be paid to you in March 2018 when other LKQ employees receive their 2017 bonus payment. 

Long Term Incentive Plan: You will be a participant in the LKQ Corporation Long Term Incentive Plan (LTIP) with an earnings opportunity of 36% at threshold, 71% at target and 142% at maximum. Upon employment with the Company, you will participate in the Plan for the existing performance period January 1, 2017 through December 31, 2019. Payments, if any, under this Plan are in cash and are calculated based on the performance of LKQ measured by the growth of our earnings per share, revenue and return on equity from the base year (2016) to the final year of the performance period (2019). The amount of your performance award will be calculated using your base salary at the end of the performance period. Provided LKQ meets the goals established under the LTIP and you are an employee of LKQ at the end of the performance period, you will receive a payment in the first quarter of 2020 and such payment will be pro-rated to reflect the actual number of full months of your employment with the Company during the performance period. It is currently anticipated that the Compensation Committee will establish a new three-year performance period and related metrics under the LTIP each year. Notwithstanding the foregoing, all long term incentive awards are subject to the terms of the LTIP, including but not limited to the right of LKQ to modify and/or terminate or replace this program at its discretion.

Equity Program: As a senior executive of the Company, you will be eligible to participate in the LKQ Corporation 1998 Equity Incentive Plan (EIP) under which you will receive annual grants of equity awards, currently Restricted Stock Units (“RSUs”). Annual RSUs are typically issued in January each year. In January 2018, the nominal value of the RSUs issued to you will equal $1,177,000 and the actual number of RSUs issued will be equal to $1,177,000 divided by the volume weighted average price per share on the Nasdaq Global Select Market of the common stock of LKQ on the grant date. For future years, it is currently anticipated that the nominal value of RSUs issued will be generally consistent with past amounts for the CFO position and the exact number of RSUs will be determined pursuant to the terms of the EIP. Each RSU will convert into one share of LKQ common stock on the applicable vesting date. The vesting conditions for the RSU grants are at the discretion of the Compensation Committee. Recently the Committee has used the following two vesting conditions, each of which must be satisfied: (a) time-based vesting equal to 16.67% 

Exhibit 10.1

of the total number of RSUs every six months; and (b) a performance-based condition of positive fully-diluted earnings per share of the Company (subject to adjustment for certain extraordinary items) for any of the first five fiscal years ending after the grant date. Notwithstanding the foregoing, all RSUs are subject to the terms of the EIP, including but not limited to the right of LKQ to modify and/or terminate or replace this program at its discretion.

Sign-On Incentive: Since you will be forfeiting your equity and long-term incentives with your current employer, you will receive an additional grant of RSUs under the EIP with a value equal to $1,900,000. The actual number of RSUs issued will be equal to $1,900,000 divided by the volume weighted average price per share on the Nasdaq Global Select Market of the common stock of LKQ on your first day of employment. These RSUs will vest with respect to (a) 13.33% of the total number of RSUs (rounded to the nearest whole number) on each of the following dates: (i) 1/16/18, (ii) 7/16/18, (iii) 1/14/19, (iv) 7/15/19, (v) 1/14/20, and (vi) 7/14/20; and (b) 5.0% of the total number of RSUs (rounded to the nearest whole number) on each of the following dates: (i) 1/14/21, (ii) 7/14/21, (iii) 1/14/22, and (iv) 7/14/22. This grant will be subject to the terms and conditions of the EIP; however, should you voluntarily leave the employment of the Company, all unvested amounts shall be forfeited. Should you be released from employment with the Company for reasons other than for “cause,” or if you die or become disabled (as defined in the EIP), all unvested RSUs shall immediately vest.

Relocation Allowance: If you move your principal residence to the Chicago area on or before September 1, 2018 (as anticipated), LKQ will reimburse to you -- up to a maximum of $25,000 -- the expenses incurred by you and associated with the shipment of your personal belongings to your new residence in the Chicago area.  You will need to provide receipts for reimbursement of these expenses, in accordance with the Company’s reimbursement policies and requirements.  

Severance Policy and Change of Control Agreement: As Chief Financial Officer, you will be covered by the LKQ Corporation Severance Policy for Key Executives (the terms of which are summarized in and a copy of which is attached as Exhibit 10.1 to the Form 8-K filed by LKQ with the SEC on July 28, 2014), and LKQ would enter into with you a Change of Control Agreement in substantially the form of agreement attached as Exhibit 10.7 to the Form 10-Q filed by LKQ with the SEC on May 1, 2015.

Employee Benefits (Health & Welfare): Upon completion of ninety days of employment you will become eligible to participate in the LKQ benefits program that includes medical, dental, disability, vision and life insurance. A program guide summarizing these benefits is enclosed for your review. You will be contacted by our employee benefits department on the enrollment process and the benefits available to you and your eligible dependents. If you need to elect COBRA coverage from your current employer until LKQ employee benefits are effective, this cost will be reimbursed to you. 

Retirement Savings Plan: You will be eligible to enroll in our qualified 401(k) plan after six months of employment. Prior to reaching six months, you will receive a welcome packet from Wells Fargo with enrollment instructions. You will be 100% vested in employer contributions after four years of service. Due to IRS regulations on the contributions of highly-compensated employees, your contributions to our qualified 401(k) plan would be capped at 4.5% of your salary. However, LKQ offers an alternative retirement option through our nonqualified “Plus Plan,” which enables you to contribute up to 100% of your salary and 100% of your bonus, pretax. You will be eligible to participate in the nonqualified plan at the start of your employment with LKQ and will receive an “Enrollment Announcement” upon your arrival at LKQ.

PTO (Paid Time Off): You will be eligible for 18 days of PTO under our paid time off program.

Pre-Employment Requirements: It is important to inform you that this offer of employment is contingent upon your satisfying our pre-employment requirements, including but not limited to an acceptable background check for which you will need to complete a separate authorization.  Also, you must complete an I-9 Employment Eligibility Verification within three business days of your first day of work. Additionally, certain items in this offer letter (e.g., participation in the LTIP and equity grants) are subject to the approval of LKQ’s Compensation Committee.

Exhibit 10.1

Employment at Will: Your employment with LKQ is at-will, meaning that either party may terminate the relationship at any time with or without cause and with or without notice.  Your signature below indicates acceptance of this position and acknowledgment that this is an at-will employment relationship. 

Representation by You:  You represent that you are free to accept employment with LKQ without any contractual restrictions, express or implied, of any kind (including, without limitation, obligations to prior employers or investors, including any non-compete, non-solicitation or confidentiality obligations).

I look forward to your positive response to this offer.  Upon acceptance of this offer, we will submit the proposal to LKQ’s Compensation Committee for approval and you will be contacted by Matt McKay, Senior Vice President, Human Resources, who will assist you through our pre-employment process. Should you have any questions on the pre-employment process or the terms of this offer, please contact Matt or me. Thank you.

Sincerely, 

/s/ Dominick Zarcone                   
Dominick Zarcone

Cc: Matt McKay

Accepted and agreed to by:

/s/ Varun Laroyia                           
Varun LaroyiaExhibit 10.1

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This EXECUTIVE EMPLOYMENT
AGREEMENT (this “Agreement”) is made as of the ____ day of _________, 2017 (the “Effective Date”),
by and between LEGACY EDUCATION ALLIANCE, INC., a Nevada corporation, with an address of 1612 E. Cape Coral Parkway, Cape Coral,
FL 33904 (together with its predecessor, the “Company”) and Anthony C. Humpage (the “Executive”).

 

WHEREAS Executive
was first engaged by the Company’s predecessor as Chief Executive Officer on or about September 4, 2012 (the “Start
Date”); and

 

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

 

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

 

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

 

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

 

2.        Duties.

 

(a)     Executive
shall serve as Chief Executive Officer of the Company and shall report directly to the Board of Directors of the Company (the “Board”).
Executive shall also, if requested by the Board or any subcommittee thereof serve as an executive officer of any Company affiliate
or joint venture company and/or as a fiduciary of any Company, affiliate, or joint venture company benefit plan(s).

 

(b)      Executive
shall have such duties and responsibilities as are customary for Executive’s position and any other duties or responsibilities
that may be assigned or delegated to him from time to time. Executive agrees that he will use his best efforts to fulfill his duty
of loyalty and care to the Company and to promote the business and interests of the Company above all others and that he will not
engage, directly or indirectly, in any other business or occupation during the Employment Term, except as expressly permitted by
the Board. It is understood, however, that the foregoing will not prohibit Executive from (i) devoting reasonably limited time
to charitable activities and personal investment activities for himself and his family that do not interfere materially with the
performance of his duties hereunder or (ii) serving on the board(s) of any other corporate, civic or charitable organizations so
long as such service is not inconsistent with his fiduciary obligations to the Company or otherwise conflicts with his obligations
under the Covenant Agreement described in Section 8 of this Agreement.

 

    

     

    

 

3.       Compensation.

 

(a)      Base
Salary. The Company will pay Executive for all services to be rendered by Executive hereunder (including and without limitation,
all services to be rendered by him as an officer and/or director of the Company and its subsidiaries and affiliates) a base salary
(“Base Salary”) of Seven Thousand Two Hundred Eleven and 54/100ths Dollars ($7,211.54) per week ($375,000 annualized).
The Base Salary may be increased at the discretion of the Board from time to time during the Employment Term. Base Salary shall
be payable bi-weekly or otherwise in accordance with customary payroll practices for senior executives of the Company.

 

(b)      Annual
Incentive Compensation. Executive shall be eligible to receive an annual non-equity incentive bonus (“Annual
Incentive Compensation”) and other long term incentive compensation, all of which are intended to comply with Section
162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), under such executive bonus plans and long
term incentive plans as may be established by the Compensation Committee of the Board [or, in
the absence of a Compensation Committee, then a committee of the Board of Directors comprised of not less than two
independent directors (in either event, the “Independent Director Committee”)] in its sole discretion from
time to time, subject to the terms and conditions of such plans. The Annual Incentive Compensation will be based on the
achievement of Company and individual performance goals to be established by the Compensation Committee, with annual target
incentive bonuses of not less than 100% of the Base Annual Salary.

 

(c)      Repayment
upon Material Restatement. The Compensation Committee of the Board of Director or, in the absence
of a Compensation Committee, then a committee of the Board of Directors comprised of not less than two independent directors (in
either event, the “Independent Director Committee”) may, in its discretion, require reimbursement of all or part of
any Annual Incentive Compensation or other incentive payments to Executive where: (1) the payment of such Annual Incentive Compensation
or other incentive payments to Executive was predicated upon achieving certain financial results that were subsequently the subject
of a material restatement of the Company’s audited financial statement with the need for such restatement having been confirmed
by the Company’s independent auditors; (2) the Company determines Executive engaged in gross negligence or willful misconduct
that substantially caused the need for the restatement; and (3) a lower payment would have been made to Executive based upon the
restated financial results. In each such instance, the Executive shall repay to the Company the amount by which the Executive’s
Annual Incentive Compensation or other incentive payments for the relevant period exceeded the lower payments that would have been
made based on the restated financial results; provided, however, that the Executive shall not be required to repay any Annual Incentive
Compensation or other incentive payments, or portion thereof, pursuant to this paragraph if such payments relate to accounting
periods occurring two (2) years (or such longer time period as may be required by law) or more prior to the restatement. Before
the Compensation Committee determines whether Executive engaged in gross negligence or willful misconduct that caused or substantially
caused the need for the substantial restatement, it shall provide to Executive written notice and the opportunity to be heard,
at a meeting of the Independent Director Committee (which may be in-person or telephonic, as determined by the Independent Director
Committee).

 

(d)      Vacation.
Executive shall be entitled to paid annual paid time off (“PTO”) in an amount provided for in the Company’s vacation,
PTO or similar policy as amended from time to time, with the calculation of such entitlement to be retroactive to the Start Date,
but in no event less than four (4) weeks of paid annual vacation.

 

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

 

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

 

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

 

7.       Termination
of Employment.

 

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

 

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

 

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

 

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

 

(c)      Termination
Other than for Cause or Upon Material Breach by Company. If the Employment Term is terminated (i) by the Company other than
for Cause or (ii) by Executive, subject to the succeeding sentence, following a material breach by the Company of this Agreement
(including, but not limited to, any material diminution in the scope of the Executive’s duties or a reduction in the Annual
Salary payable hereunder), in either case, the Company shall to pay to Executive (x) any earned and unpaid Base Annual Salary and
Annual Incentive Compensation accrued but unpaid through the date of termination; (y) subject to the terms thereof, any benefits
which may be due to Executive on such date under the provisions of any employee benefit plan, program, or policy and (z) a separation
benefit in an amount equal to twenty-six (26) weeks of Executive’s Base Salary in effect as of the date of
termination date, less all applicable withholding taxes and any other amounts required by law to be withheld, payable in bi-weekly
installments concurrently with Company’s regularly scheduled pay periods (such separation benefit payable pursuant to this
clause (z) hereinafter referred to as the “Separation Benefit”).

 

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If there is a material
breach of this Agreement by the Company, Executive shall, within 30 days following his knowledge of such breach, deliver written
notice to the Company, which notice shall specify such material breach. No material breach shall be deemed to exist if the Company
shall remedy or cure the relevant circumstances within 20 days of its receipt of such notice. Payment by the Company of the Separation
Benefit shall be conditioned upon (i) Executive executing a general release in favor of the Company (which release shall be reasonably
satisfactory to the Company and shall exclude the Company’s obligations in this Section and its obligations in Section 3) and (ii)
Executive’s continued compliance with the terms and conditions of Covenant Agreement.

 

(d)   
  Termination following Change of Control. If the Employment Term is terminated by (i) the Company without
Cause or by Executive following a material breach by the Company, (including, but not limited to, any material diminution in
the scope of the Executive’s duties or a reduction in the Base Salary payable hereunder), in either case within
eighteen (18) months following a Change of Control (as defined below) of the Company, (a “Change of Control
Termination”) then (i) the Company shall pay to Executive in a lump sum payment (x ) all Base Salary and Annual
Incentive Compensation that have accrued but are unpaid as of the Termination Date, (y) an amount equal to 104 weeks of Base
Salary in effect as of the date of termination date, less all applicable withholding taxes and any other amounts required by
law to be withheld, payable in bi-weekly installments concurrently with Company’s regularly scheduled pay periods (such
separation benefit payable pursuant to this clause (z) hereinafter referred to as the “Change in Control Separation
Benefit”). Payment by the Company of the Change in Control Separation Benefit shall be conditioned upon (i) Executive
executing a general release in favor of the Company (which release shall be reasonably satisfactory to the Company and shall
exclude the Company’s obligations in this Section and its obligations in Section 3) and (ii) Executive’s continued
compliance with the terms and conditions of Covenant Agreement.

 

For purposes hereof, a “Change of Control”
shall be deemed to occur upon:

 

(i)       any
“person” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than LEAI, any trustee or other
fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the
shareholders of LEAI in substantially the same proportions as their ownership of common stock of LEAI), is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of LEAI representing fifty
percent (50%) or more of the combined voting power of LEAI’s then outstanding securities;

 

(ii)      during
any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board, and any new director
(other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described
in paragraph (a), (c), or (d) of this Section) whose election by the Board or nomination for election by LEAI’s shareholders was
approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the
two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute at
least a majority of the Board;

 

(iii)     a
merger, consolidation, reorganization, or other business combination of LEAI with any other entity, other than a merger or consolidation
which would result in the voting securities of LEAI outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined
voting power of the voting securities of LEAI or such surviving entity outstanding immediately after such merger or consolidation;
provided, however, that a merger or consolidation effected to implement a recapitalization of LEAI (or similar transaction) in
which no person acquires thirty percent (30%) or more of the combined voting power of LEAI’s then outstanding securities shall
not constitute a Change in Control; or

 

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(iv)     the
shareholders of LEAI approve a plan of complete liquidation of LEAI or the consummation of the sale or disposition by LEAI of all
or substantially all of LEAI’s assets other than (x) the sale or disposition of all or substantially all of the assets of LEAI
to a person or persons who beneficially own, directly or indirectly, at least fifty percent (50%) or more of the combined voting
power of the outstanding voting securities of LEAI at the time of the sale or (y) pursuant to a spin-off type transaction, directly
or indirectly, of such assets to the shareholders of LEAI.

 

(e)       Termination
Upon Demand of RDOC. If the Executive’s employment with the Company is terminated by the Board, other than for Cause
or as the result of a Change in Control, within twelve (12) months of a demand for such termination by Rich Dad Operating Company,
LLC or any affiliated Rich Dad entity or Robert or Kim Kiyosaki (in each case, “RDOC”) then the Company shall pay
to Executive (i) all Base Salary and Annual Incentive Compensation that have accrued but are unpaid as of the Termination Date,
and, (ii) as severance compensation, an amount equal to 104 weeks of Base Salary in effect at the end of the Employment Term payable
as follows (aa) lump sum of twenty-six (26) weeks of Base Salary upon the termination of the Employment Term, and (bb) the balance
amortized over a six (6) month period commencing on the date that is 30 days after the date of termination of the Employment Term
and payable in equal bi-weekly installments or otherwise in accordance with customary payroll practices for senior executives
of the Company “RDOC Separation Benefit”). Payment by the Company of the RDOC Separation Benefit shall be conditioned
upon (i) Executive executing a general release in favor of the Company (which release shall be reasonably satisfactory to the
Company and shall exclude the Company’s obligations in this Section and its obligations in Section 3, and (ii) Executive’s continued
compliance with the terms and conditions of the Covenant Agreement.

 

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

 

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

 

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

 

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8.        Restrictive
Covenants. Executive hereby ratifies and affirms the Confidentiality, Non-Compete and Non-Solicitation Agreement (attached
hereto as Appendix A) (“Covenant Agreement”) and agrees to comply with the Covenant Agreement. The restrictions provided
for in the Covenant Agreement shall survive the termination of this Agreement and the termination of Executive’s employment
with the Company.

 

9.
       Acceptance by Executive. Executive accepts all of the terms and provisions
of this Agreement and agrees to perform all of the covenants on his part to be performed hereunder. The Company accepts all
of the terms and provisions of this Agreement and agrees to perform all of the covenants on its part to be performed
hereunder.

 

10.       Equitable
Remedies. Executive acknowledges that he has been employed for his unique talents and that his leaving the employ of the
Company would seriously hamper the business of the Company and the parties acknowledge that any violation or breach of this Agreement,
including, but not limited to, the Covenant Agreement, will cause the non-breaching party to suffer irreparable damage. The parties
hereby expressly agree that the non-breaching party shall be entitled as a matter of right to injunctive or other equitable relief,
in addition to all other remedies permitted by law, to prevent a breach or violation by the other party and to secure enforcement
of the provisions of this Agreement, including, but not limited to, Sections 8 or 9 hereof. Resort to such equitable relief, however,
shall not constitute a waiver of any other rights or remedies which the non-breaching party may have.

 

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

                

12.
       Severability. In case any provision in this agreement shall be declared
invalid, illegal or unenforceable by any court of competent jurisdiction, the validity and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

 

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

 

	To the Company:	Legacy Education Alliance, Inc.
	 	Attn: CEO
	 	1612 E. Cape Coral Parkway
	 	Cape Coral, FL 33904

 

	with a copy to:	Legacy Education Alliance, Inc.
	 	Attn: General Counsel
	 	1612 E. Cape Coral Parkway
	 	Cape Coral, FL 33904

 

	To Executive:	Anthony C. Humpage
	 	11075 E. Beck Lane
	 	Scottsdale, AZ 85255

 

	with a copy to:	 	 
	 	 	 
	 	 	 

 

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

 

    7

     

    

 

14.
       Successors and Assigns. This agreement is personal in its nature and neither
of the parties hereto shall, without the consent of the other, assign or transfer this agreement or any rights or obligations
hereunder (except for an assignment or transfer by the Company to a successor as contemplated by the following proviso);
provided, however, that the provisions hereof shall inure to the benefit of, and be binding upon, any successor of the
Company, whether by merger, consolidation, transfer of all or substantially all of the assets of the Company, or otherwise,
and upon Executive, his heirs, executors, administrators, and legal representatives.

 

15.
       Governing Law. This agreement and its validity, construction and performance
shall be governed in all respects by the internal laws of the State of Florida without giving effect to any principles of
conflict of laws.

 

16.
       Headings. The headings in this Agreement are for convenience of reference
only and shall not control or affect the meaning or construction of this Agreement.

 

17.
       Pronouns. All pronouns and any variations thereof shall be deemed to refer
to the masculine, feminine, neuter, singular or plural as the context may require.

 

18.       
Number and Gender. Words used in this Agreement, regardless of the number and gender specifically used, shall be deemed
and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the context
indicates is appropriate.

 

19.
       Construction. The parties hereto and their respective legal counsel
participated in the preparation of this Agreement; therefore, this agreement shall be construed neither against nor in favor
of any of the parties hereto, but rather in accordance with the fair meaning thereof.

 

20.
       Enforcement. Should it become necessary for any party to institute legal
action to enforce the terms and conditions of this Agreement, the successful party will be awarded reasonable attorneys’ fees
at all trial and appellate levels, and in insolvency, bankruptcy and regulatory proceedings, and all related expenses and
costs. Any suit, action or proceeding with respect to this agreement shall be brought in the courts of Lee County in the
State of Florida or in the U.S. District Court for the Central District of Florida. The parties hereto hereby accept the
exclusive jurisdiction of those courts for the purpose of any such suit, action, or proceeding.

 

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

 

21.       
No Third-Party Beneficiaries. No person shall be deemed to possess any third-party beneficiary right pursuant to this Agreement.
It is the intent of the parties hereto that no direct benefit to any third party is intended or implied by the execution of this
Agreement.

 

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

 

23.       Termination
of Prior Agreement. That certain Executive Employment Agreement dated October 2013 by and between the Company, as successor
to Tigrent Inc., and Executive (the “Prior Employment Agreement”) is hereby terminated as if the effective date of
this Agreement had been set forth in the Prior Agreement as the termination date thereof.

 

    	 	8	 

     

    

 

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

 

	 	LEGACY EDUCATION ALLIANCE, INC.
	 	a Nevada Corporation
	 	 	 
	 	By:	  
	 	 	 
	 	Name:	 
	 	 	             
	 	Title:	 
	 	 	 
	 	EXECUTIVE:
	 	 	 
	 	 

 

    9

     

    

 

Appendix A

 

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

 

 

10

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