Document:

EX-10.9

 Exhibit 10.9 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made effective as of October 1, 2010 (“Effective
Date”), by and between RE/MAX International Holdings, Inc., a Delaware corporation with its principal place of business at 5075 South Syracuse Street, Denver, CO 80237-2712 and RE/MAX, LLC, a Delaware limited liability company with its
principal place of business at 5075 South Syracuse Street, Denver, CO 80237-2712 (collectively, the “Company”), and Mike Ryan (“Executive”), with his principal residence at 10138 South Mountain Maple Court,
Highlands Ranch, CO 80126. 
 WHEREAS, the Board of Directors of the Company or its appropriate designee (the
“Board”) and the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”), have collectively approved the continued appointment and employment of the Executive to serve as
Senior Vice President, RE/MAX University of the Company; 
 WHEREAS, the Executive desires to continue to serve as Senior Vice
President, RE/MAX University of the Company; and 
 WHEREAS, the parties wish to set forth the terms and conditions of such
engagement and service. 
 NOW, THEREFORE, in consideration of the continued employment of the Executive by the Company and the
mutual agreements hereinafter set forth, the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.
Scope of Employment; Authority and Responsibilities. 
 (a) The Company hereby employs the Executive as the Senior Vice
President, RE/MAX University of the Company, and the Executive accepts such employment by the Company subject to the terms and conditions of this Agreement. 

(b) In his capacity as Senior Vice President, RE/MAX University of the Company, the Executive shall report directly to the Company’s
Chief Operating Officer (“COO”) and shall perform all of the duties that are commensurate with that of a Senior Vice President, RE/MAX University, including oversight of all functions of RE/MAX University (“RU”)
(including Multi-Media and Education), management of Event Management, the corporate Approved Supplier Program, EDR Travel, and the REO division, and such other duties as may reasonably be directed by the Company’s Chief Executive Officer
(“CEO”), COO, or the Chairman of the Board (“Chairman”). Throughout his employment, the Executive shall devote sufficient time, energy and skill to the performance of the duties of his employment by the Company
(except as otherwise provided for herein), shall faithfully and industriously perform such duties, and shall diligently follow and implement all lawful management policies and decisions of the CEO or Chairman. 

 (c) Executive may engage in other activities for his own account while employed hereunder,
including without limitation, charitable, community and other business activities, provided that in the judgment of the CEO or Chairman, such other activities do not: (1) materially interfere with the performance of Executive’s duties
hereunder; (2) create an actual or apparent conflict of interest with the Company; or (3) violate any of the restrictive covenants set forth in Section 4. 

(d) Subject to the terms of this Agreement, Executive agrees to comply with, implement and abide by all lawful Company policies and procedures
and all lawful directions of the CEO, COO, or Chairman. 
 2. Compensation, Benefits and Expense Reimbursement. 

(a) Base Salary; Adjustment of Base Salary. In consideration for his service under the terms of this Agreement, the Company
shall pay to the Executive an annual base salary (“Base Salary”), which amount shall be paid in installments in accordance with the normal payroll payment practices of the Company and shall be subject to such deductions and
withholding as are required by law. The Base Salary for the first twelve (12) months shall be set at a rate of Two Hundred Fifty Seven Thousand Five Hundred Dollars ($257,500) per year. On or about 12 months following Executive’s active
employment under this Agreement (the “Anniversary Date”) and on or about each Anniversary Date thereafter during the Term of this Agreement, Executive’s Base Salary rate may be reviewed by the CEO, Chairman, or Board, and
Executive’s Base Salary may be adjusted upward at any time at the discretion of the CEO, Chairman, or Board or downward under Section 3(d)(iv). 

(b) Performance Reviews. On or around each Anniversary Date during the Term of this Agreement, the CEO, COO, or Chairman may
meet with the Executive to assess and mutually confer on the Executive’s performance during the prior year, discuss any potential modifications of direction or priorities, mutually set future priorities and goals for the Executive and the
Company, and determine the amount, if any, of the Performance Bonus described in Section 2(c) below. 
 (c) Performance
Bonus. The Executive shall be eligible, but not entitled, to receive an annual performance-based bonus (the “Performance Bonus”) based upon the performance of the Company and/or upon the performance of Executive against a
plan and/or goals agreed upon by the CEO or Chairman and the Executive. To the extent granted, a Performance Bonus shall be paid to the Executive in a lump sum, subject to applicable deductions and withholding, within 2 1/2 months following the end
of the calendar year for which the Performance Bonus is paid. The CEO, Chairman, or Board shall determine the appropriate amount of the Performance Bonus applying the above-referenced criteria. 

(d) Professional Company Membership Dues and Expenses. If desired by the Executive and subject to the pre-approval of the CEO,
Chairman, or Board, the Company shall pay for the Executive’s expenses of membership, receipt of publications, and other participation in the relevant programs and activities of the leading real estate trade associations. 

  
 2 

 (e) Business Expenses. The Company shall pay or reimburse to the Executive all
reasonable travel, dining, entertainment, and other business expenses incurred by the Executive in the performance of his duties under this Agreement. The Executive shall, as a condition of any such payment or reimbursement, submit verification,
substantiation and documentation of the nature and amount of such expenses in accordance with the policies of the Company. The Executive shall have made available to him the Company’s credit or charge card for use with respect to such expenses.
Such credit or charge card shall not be used to incur any personal (non-business-related) expenses; any personal expenses inadvertently charged to such card shall be reimbursed immediately by the Executive to the Company. 

(f) Spousal/Partner Travel Expenses. Subject to the pre-approval of the CEO, Chairman, or Board, the Company shall pay or
reimburse to the Executive all travel and related expenses for the Executive’s spouse/partner to attend all business functions, events, meetings, and conferences at which the participation of spouses/partners is ordinary and customary. 

(g) Standard Benefits. In addition to the salary and other specifically described benefits payable to the Executive hereunder,
the Executive shall receive such benefits as are made available to Company executives generally, including, without limitation, life insurance, medical insurance, dental insurance, long- and short-term disability insurance, retirement plan(s), and
sick leave. The Executive should consult the various plan documents for specific information regarding retirement, disability and health plans. 

(h) Gross-up Payment. In the event that Executive shall become entitled to any amounts, whether pursuant to the terms of this
Agreement or any other plan, arrangement or agreement with the Company (the “Regular Amounts”) that arc determined to be subject to a tax penalty (a “Penalty”), including without limitation the penalties imposed by
Internal Revenue Code (“IRC”) Section 4999, IRC Section 409A and any similar tax penalty that may hereafter be imposed, the Company shall pay to Executive an additional amount (the “Gross-up Payment”) such
that the net amount retained by Executive after payment of all applicable federal, state and local taxes on the sum of the Regular Amounts plus the Gross-up Payment is equal to the net amount that would have been retained by Executive after payment
of all applicable federal, state and local taxes on the Regular Amount if such amounts had not been subject to a Penalty. 
 (i)
Section 409A. It is the intent of this Agreement to comply with the requirements of IRC Section 409A, and any ambiguities herein will be interpreted and this agreement will be administered to so comply. Therefore, in order to
be consistent with the requirements of IRC Section 409A: 
 (i) Reimbursements. To the extent that any reimbursement or in-kind
benefit provided to Executive or his spouse under Section 2(d), (e) or (f) is taxable, unless stated otherwise: (1) such reimbursements and in-kind benefits will be provided only for expenses incurred during the Executive’s employment with the
Company; (2) the expenses eligible for reimbursement or the in-kind benefits provided in any given calendar year will not affect the expenses eligible for reimbursement or the in-kind benefits provided in any other calendar year;

  
 3 

 
(3) the reimbursement of an eligible expense must be made no later than the last day of the calendar year following the calendar year in which the expense is incurred; and (4) the right to
reimbursements or in-kind benefits cannot be liquidated or exchanged for any other benefit. 
 (ii) Gross-Up Payment. Any Gross-Up
Payment under Section 2(h) shall he paid to Executive as soon as practicable following the date of payment of the Regular Amounts and in no event later than the end of the Executive’s taxable year next following the taxable year in which
the Executive remits to the taxing authority the Penalty. 
 3. Term; Termination; Termination/Severance Benefits. 

(a) Term. The “Term” of this Agreement shall be one (1) year commencing on the Effective Date. On each
Anniversary Date, the Term shall automatically renew for an additional one (1) year Term. 
 (b) Termination. During the
Term, this Agreement and the Executive’s employment by the Company hereunder may be terminated: (i) by the mutual written agreement of the Executive and the Company; (ii) by the Company for “Cause”; (iii) by the
Executive upon not less than thirty (30) days’ prior written notice to the CEO, Chairman, or Board; (iv) by the Company upon not less than thirty (30) days’ prior written notice to the Executive; (v) by the Executive at
any time upon written notice for “Good Reason”; (vi) upon the death of the Executive; or (vii) by the Company upon the “Disability” of the Executive. 

(c) Termination/Severance Benefits. Except as otherwise provided herein and subject to Section 4(g), the compensation and
termination payments provided pursuant to this Section 3(c) shall be paid at such times and in such manner as payments normally would be made under Section 2 above and shall be subject to deductions and withholding as provided in
Section 2(a) above. 
 (i) In the event Executive’s employment hereunder is terminated by mutual agreement pursuant to
Section 3(b)(i) above, the Company shall provide to Executive any payments and benefits pursuant to Section 2 above which have been earned but have not been provided through the date of termination and such additional sums, if any, as
mutually agreed in writing by the Executive and the Company. 
 (ii) In the event Executive’s employment hereunder is terminated for
Cause pursuant to Section 3(b)(ii) above, the Company’s sole obligation to the Executive shall be the provision of any payments and benefits pursuant to Section 2 above which have been earned but have not been provided through the
date of termination. 
 (iii) In the event Executive’s employment hereunder is terminated by the Executive upon not less than thirty
(30) days’ prior written notice to the Company pursuant to Section 3(b)(iii) above, the Company shall provide all payments and benefits to the Executive pursuant to Section 2 above which have been earned but have not been provided through the
date of termination. 

  
 4 

 (iv) In the event Executive’s employment hereunder is terminated by the Company upon not
less than thirty (30) days’ prior written notice to the Executive pursuant to Section 3(b)(iv) above, the Company shall provide all payments and benefits to the Executive pursuant to Section 2 above which have been earned but
have not been provided through the date of termination, and shall pay to the Executive severance benefits of: (A) twelve (12) months of continued Base Salary at Executive’s then current rate, to be paid on the regular payroll schedule
of the Company commencing with the date of termination; (B) an amount equal to the Executive’s Performance Bonus as has been declared but not yet paid to Executive, to be paid in a lump sum within thirty (30) days of the date of
termination; and (C) continuation of all benefits set forth in Section 2(g) above during the period in which severance is paid out to the Executive, to the extent permitted by the Company’s then current benefit plans. 

(v) In the event Executive’s employment hereunder is terminated by the Executive for Good Reason pursuant to Section 3(b)(v) above,
the Company shall provide all payments and benefits to the Executive pursuant to Section 2 above which have been earned but have not been provided through the date of termination, and shall pay to the Executive severance benefits of:
(A) twelve (12) months of continued Base Salary at Executive’s then current rate, to be paid on the regular payroll schedule of the Company commencing with the date of termination; (B) an amount equal to the Executive’s
Performance Bonus as has been declared but not yet paid to Executive, to be paid in a lump sum within thirty (30) days of the date of termination; and (C) continuation of all benefits set forth in Section 2(g) above during the period
in which severance is paid out to the Executive, to the extent permitted by the Company’s then current benefit plans. 
 (vi) In the
event Executive’s employment hereunder is terminated by the death of the Executive pursuant to Section 3(b)(vi) above, the Company shall provide to the Executive’s estate all payments and benefits pursuant to Section 2 above,
which have been earned but have not been provided through the date of the Executive’s death. 
 (vii) In the event this Agreement and
the Executive’s employment hereunder are terminated by the Company as a result of the Disability of the Executive pursuant to Section 3(b)(vii) above, the Company shall provide to the Executive all payments and benefits pursuant to
Section 2 above, which have been earned but have not been provided through the date of termination. 
 (viii) Notwithstanding the
above, if any compensation to be paid to Executive under Section 3(c) is “nonqualified deferred compensation” subject to IRC Section 409A, such compensation shall be paid no earlier than the date of Executive’s
“separation from service” from the Company within the meaning of IRC Section 409A(a)(2)(A)(i). If the Executive is a “specified employee” within the meaning of IRC Section 409A(a)(2)(B)(i) at the time of the
Executive’s separation from service, any nonqualified deferred compensation subject to IRC Section 409A that would otherwise have been payable as a result of, and within the first six (6) months following, the Executive’s
“separation from service”, and not by reason of another event under IRC Section 409A(a)(2)(A), will become payable six (6) months and one (1) day following the date of the Executive’s separation from service or, if
earlier, the date of Executive’s death. 

  
 5 

 (d) Definitions. For purposes of this Agreement: 

(i) “Cause” shall mean any one of the following: 

(A) Executive’s conduct amounting to fraud, theft or misappropriation of any funds or property of or due to the Company; 

(B) Executive’s attempt to obtain, or, in fact, obtaining, any personal profit from any transaction in which the Executive has an
interest which is adverse to the interests of the Company unless the Executive shall have first obtained the consent of the Board; 
 (C)
Executive’s failure to substantially perform his duties hereunder (other than that caused by Executive’s Disability), which failure is not remedied within 30 days of written notice by the CEO, Chairman, or the Board; 

(D) Executive’s gross negligence or material mismanagement in performing Executive’s duties and responsibilities as directed by the
Board or his superiors at the Company; 
 (E) Executive’s material breach of any term of this Agreement, which breach is not cured
within thirty (30) days of written notice by the CEO, Chairman, or the Board; 
 (F) Executive’s conviction of or plea of nolo
contendere to a felony; or 
 (G) Executive’s conduct that results in material injury to the reputation, business or business
relationships of the Company. 
 (ii) “Disability” shall mean the inability of the Executive to carry out the essential
functions of Executive’s duties under this Agreement by reason of the Executive’s illness or injury, which inability has continued for a period of either sixty (60) days or one hundred twenty (120) non-consecutive days in any
twelve-month period. 
 (iii) “Good Reason” shall mean any one of the following: 

(A) The Company’s material breach of the compensation, salary or benefit obligations of this Agreement, which breach is not cured by the
Company within thirty (30) days written notice by Executive; 
 (B) The relocation of the Executive’s principal place of business
to outside of fifty (50) miles of its location as of the Effective Date; 

  
 6 

 (C) A material diminution of Executive’s role or responsibilities within the Company,
including without limitation requiring that Executive report to a position other than the CEO or COO; or 
 (D) Failure of any successor to
assume or honor its obligations under this Agreement on the date on which it acquires a controlling interest in the equity, assets or businesses of the Company or thereafter. 

(iv) Notwithstanding Section 3(d)(iii)(A) above, “Good Reason” shall not mean any such reduction in the Executive’s pay or
benefits which occurs in the context of across-the-board reductions in executive pay authorized by the CEO, Chairman, or Board to address the financial needs of the Company. 

4. Restrictive Covenants. 
 (a)
Confidentiality. In the course of his employment by the Company, the Executive will have access to Confidential Information (as defined below) of the Company and its affiliates, subsidiaries and franchisees. The Executive agrees to
maintain the strict confidentiality of all Confidential Information during the term of this Agreement and thereafter. For purposes of this Agreement, “Confidential Information” shall mean all non-public information and materials of
the Company, including information and materials received by the Company from third parties, concerning the Company’s business practices and operations. Confidential Information shall include, but not be limited to, information or data
contained in the Company’s financial records, personnel records, media and marketing techniques and arrangements, contemplated products and services, purchasing information and other business, strategic and operational data of the Company and
its affiliates, subsidiaries and franchises. Confidential Information includes all other information and materials which arc of a proprietary or confidential nature, even if they are not marked as such. Upon the termination of this Agreement,
Executive shall promptly return all Company property, including but not limited to all Confidential Information, retaining no copies. This provision shall survive the termination of this Agreement indefinitely. 

(b) Intellectual Property. The Executive recognizes and agrees that all copyrights, trademarks, patents, and other intellectual
property rights to works or marks arising in, from or in connection with the Executive’s employment by the Company, and that are within the scope of the Executive’s employment by the Company, are the sole and exclusive property of the
Company, The Executive agrees not to assert any such rights against the Company or any third party. The Executive agrees to assign, and hereby does assign, to the Company all rights, if any, in or to such works or marks that may accrue to the
Executive during the term of this Agreement. This provision shall survive the termination of this Agreement indefinitely. 
 (c)
Agreement Not to Solicit Employees. During the Term and for a period of twelve (12) months immediately following the termination of his employment, the Executive shall not, either directly or indirectly, on his own behalf or in the
service of or on behalf of others, solicit or recruit (or attempt to solicit or recruit) any person employed by the Company to end their employment with the Company or to provide services to Executive or any other

  
 7 

 
business, organization, program, or activity that directly competes with the Company in the areas of franchising real estate brokerages, real estate brokerage, insurance brokerage or any other
defined business in which the Company engaged during the Term (hereinafter the “Company’s Business”). 
 (d)
Agreement Not to Solicit Clients / Franchisees. During the Term and for a period of twelve (12) months immediately following the termination of his employment, the Executive shall not directly or indirectly
solicit any client of the Company with whom he has or has had direct or indirect contact during his employment to cease doing business with the Company or to otherwise do business with Executive or any entity that directly competes with the Company
in the Company’s Business. Executive similarly shall not directly or indirectly solicit any franchisee of the Company to cease doing business with the Company or to otherwise do business with Executive or any entity that directly competes with
the Company in the Company’s Business. 
 (e) Agreement Not to Compete. 

(i) During the Term and for a period of three (3) months immediately following the termination of his employment, the Executive shall
not, either directly or indirectly, accept employment or perform services on behalf of himself or any individual or entity that directly competes with the Company in the Company’s Business. 

(ii) During the Term and for a period of twelve (12) months immediately following the termination of his employment, the Executive shall
not, either directly or indirectly, accept employment as a senior executive officer or perform services, which services are the same or substantially similar to the services he performed for the Company, on behalf of or for the benefit of himself or
any entity that directly competes with the Company in the Company’s Business. 
 (iii) The Company and the Executive agree that, except
in the event of the Company’s termination of the Executive for Cause, the restrictions set forth in this Section 4(e) are only enforceable to the extent the Company tenders to the Executive payment at a rate equal to Executive’s final
Base Salary. The parties agree that the Company’s payment of severance pursuant to Section 3 of this Agreement shall discharge this payment obligation. Where severance benefits are not required by this Agreement, tender of this
supplemental consideration may be commenced at any point in the 12-month period immediately following the termination of Executive’s employment. 

(iv) In the event of the Company’s termination for Cause, the Executive and Company agree that the restrictions in this Section 4(e)
shall be fully enforceable without supplemental consideration paid to the Executive. 
 (f) Reasonableness of Covenants.
Executive acknowledges and agrees that the Company conducts the Company’s Business throughout the United States and internationally, that the above covenants cannot be meaningfully restricted geographically, and that the covenants reasonably
restrict Executive from competing in any market – domestic or foreign – in which the Company operates. 

  
 8 

 (g) Enforcement Provisions. 

(i) The covenants stated above are intended to be separate and divisible provisions, and if, for any reason, any one or more of such
provisions shall be held to be invalid or unenforceable, in whole or in part, it is agreed that the invalidity or unenforceability of such provision(s) shall not be held to affect the validity or enforceability of any other provision set forth in
this Agreement. 
 (ii) By signing below, the Executive acknowledges and agrees that breach of any of the above covenants will cause the
Company irreparable injury that cannot be reasonably or adequately compensated by damages in an action at law. Accordingly, the Company shall be entitled to injunctive relief for any breach, or anticipated breach, of the covenants in addition to any
other rights or remedies the Company may have. 
 (iii) If the Executive breaches any provision of the covenants during the term of any
severance payment under this Agreement, the Company shall immediately cease such severance payments without waiver of any other remedy. 

(h) Agreement Freely Entered. Executive agrees that he has read these Covenants in their entirety and
understands all of their terms and conditions, that he has had the opportunity to consult with any individuals of his choice regarding his agreement to the provisions contained herein, including legal counsel of his choice, that he is entering into
these Covenants of his own free will, without coercion from any source. The Executive agrees that such provisions are reasonable and necessary to protect the interests of the Company. 

5. Indemnification and D&O Insurance. 

(a) Indemnification. The Company agrees that if Executive is made a party, or is threatened to be made a party, to any
threatened or actual action, suit or proceeding, whether civil, criminal, administrative, investigative, appellate or other (“Proceeding”) by reason of the fact that he is or was a director, officer, executive, agent, manager,
consultant or representative of the Company or is or was serving at the request of the Company or in connection with his duties hereunder as a director, officer, member, executive, agent, manager, consultant, trustee or representative of another
person, or if any claim, demand, request, investigation, dispute, controversy, threat, discovery request, or request for testimony or information (“Request”) is made, or threatened to be made, that arises out of or relates to
Executive’s service under or as a result of this Agreement or in any of the foregoing capacities, then the Executive shall promptly be indemnified and held harmless by the Company to the fullest extent legally permitted or authorized by the
Company’s by-laws or Board’s resolutions or, if greater, by applicable law, against any and all costs, claims, causes of action expenses, liabilities and losses (including, without limitation, attorney’s fees, judgments, interest,
expenses of investigation, penalties, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement) incurred or 

  
 9 

 
suffered by Executive in connection with a Proceeding or Request, and such indemnification shall continue as to Executive even if he has ceased to be a director, member, executive, employee,
officer, agent, manager, consultant, trustee or representative of the Company or other person and shall inure to the benefit of Executive’s heirs, executors and administrators. The Company shall advance to Executive all costs and expenses
incurred by him in connection with any Proceeding or Request within fifteen (15) days after receiving written notice from Executive requesting an advance. Executive’s notice shall include, to the extent required by applicable law, an
undertaking by Executive to repay the amount advanced if he is ultimately determined not to be entitled to indemnification against such costs and expenses. 

(b) D&O Insurance. During the Term and for such period as may be necessary under applicable statutes of limitation, the
Company shall keep in place a directors and officers liability insurance policy (or policies) providing coverage to Executive for claims relating to or arising out of his employment with the Company. 

6. Cooperation. Following the termination of this Agreement, the Executive agrees to cooperate with, and assist, the Company to ensure a smooth
transition in management and, if requested by the Company, to make himself available to consult during regular business hours at mutually agreed upon times for up to a three (3) month period thereafter. At any time following the termination of
his employment, the Executive will provide such information as the Company may request with respect to any Company-related transaction or other matter in which the Executive was involved in any way while employed by the Company, The Executive
further agrees, during the Term and thereafter, to assist and cooperate with the Company in connection with the defense or prosecution of any claim that may be made against, or by, the Company or its affiliates, in connection with any dispute or
claim of any kind involving the Company or its affiliates, including providing testimony in any proceeding before any arbitral, administrative, judicial, legislative or other body or agency. The Executive shall be entitled to reimbursement for all
properly documented expenses reasonably incurred in connection with rendering transition services under this Section, including, but not limited to, reimbursement for all reasonable travel, lodging, meal expenses and legal fees, and the Executive
shall be entitled to a per diem amount for his services equal to his then most recent annualized Base Salary under this Agreement, divided by two hundred forty (240). 

7. No Mitigation. The Executive shall not be required to mitigate the amount of any payment provided for hereunder by seeking other employment
or otherwise, nor shall the amount of any payment owed hereunder be reduced by any compensation earned by Executive as the result of employment by another employer after the date of termination of employment by the Company. 

8. Non-Disparagement. During the Term and thereafter, Executive and the Company agree to represent the counter party in a positive light and not
to disparage or in any other way communicate to any person or entity any negative information or opinion concerning the Executive or the Company, its parents, subsidiaries and affiliates, or any of their partners, members, shareholders, officers,
directors, employees or agents, or any of them. This provision shall not prohibit either party from making any statements or taking any actions required by law, 

  
 10 

 
or reporting any actions or inactions either party believes to be unlawful. This provision shall not be interpreted to require or encourage either party to make any misrepresentations. For
purposes of this Section 8 only, the term “Company” shall be limited in scope to the officers and directors of the Company. 
 9.
Automatic Amendment of Agreement with Change in Control. 
 (a) “Change in Control” shall mean any one of the
following: 
 (i) The stockholders of the Company approve a merger or consolidation of the Company with any other corporation or entity
– other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than 50% of the combined voting power of the voting securities of the Company or of such surviving entity outstanding immediately after such merger or consolidation; 

(ii) The stockholders of the Company approve an agreement for the sale or disposition by the Company of all or substantially all of the
Corporation’s assets; 
 (iii) Dave and Gail Liniger collectively cease to own, either directly or indirectly, more than fifty percent
(50%) of the voting shares of the Company’s stock; or 
 (iv) Dave Liniger ceases to serve as, or actively perform the duties of,
Chairman as a result of his disability or death. 
 (b) In the event of a Change in Control as defined above, this Agreement shall be
automatically amended, without the necessity of affirmative action by any party hereto. Specifically, Section 3(b)(iii) shall be revised to state “by the Executive upon not less than ninety (90) days’ prior written notice to the
Board or its designee.” 
 (c) Following the automatic amendment of this Agreement pursuant to Section 9(b), Section 9 shall
be of no further effect, and this Agreement shall only be subject to subsequent amendment pursuant to Section 10(i). 
 10.
Miscellaneous. 
 (a) Assignment. The Executive may not assign any part of the Executive’s rights or
obligations under this Agreement. In the event of any merger, consolidation or reorganization involving the Company, this Agreement shall become an obligation of, inure to the benefit of, and be assigned to, any legal successor or successors to the
Company. This Agreement may not otherwise be assigned by the Company without the express prior written consent of the Executive. 

  
 11 

 (b) Warranties. Each party hereto covenants, warrants and represents that it shall
comply with all laws and regulations applicable to this Agreement, and that it shall exercise due care and act in good faith at all times in performance of its obligations under this Agreement. 

(c) Headings. Titles or captions of sections or paragraphs contained in this Agreement are intended solely for the convenience
of reference, and shall not serve to define, limit, extend, modify, or describe the scope of this Agreement or the meaning of any provision hereof. 

(d) Waiver. A waiver by the Company of any breach of this Agreement by the Executive shall not be effective unless in writing,
and no such waiver shall constitute a waiver of the same or another breach on a subsequent occasion. 
 (e) Governing Law;
Jurisdiction for Dispute Resolution. All questions with respect to the construction of this Agreement and the rights and liabilities of the parties hereunder shall be determined in accordance with the laws of State of Colorado. Any legal
action taken or to be taken by either party regarding this Agreement, or the rights and liabilities of parties hereunder, shall be brought only before a federal, state or local court of competent jurisdiction located within the State of Colorado.
Each party hereby consents to the jurisdiction and venue of the federal, state and local courts located within the State of Colorado for such purposes. 

(f) Severability. All provisions of this Agreement are severable. If any provision or portion hereof is determined to be
unenforceable in arbitration or by a court of competent jurisdiction, then the remaining portion of this Agreement shall remain in full force and effect. 

(g) Force Majeure. Neither party shall be liable for failure to perform its obligations under this Agreement due to events
beyond that party’s reasonable control, including, but not limited to, strikes, riots, wars, fire, acts of God, and acts in compliance with any applicable law, regulation or order (whether valid or invalid) of any governmental body. 

(h) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all
of which taken together shall constitute one and the same instrument. 
 (i) Entire Agreement; Amendment. This Agreement
(i) constitutes the entire agreement between the parties with respect to the subject matter hereof; (ii) supersedes and replaces all prior agreements, oral and written, between the parties relating to the subject matter hereof; and
(iii) may be amended only by a written instrument clearly setting forth the amendment(s) and executed by both parties. 
 (j)
Notices. Any notice hereby required or permitted to be given shall be sufficiently given if in writing and upon mailing by certified mail, postage prepaid, to either party at the address of such party or such other address as shall
have been designated by written notice by such party to the other party. 

  
 12 

 (k) Attorney’s Fees. 

(i) Except as set forth in this Section 10(k), in any legal action brought to enforce this Agreement, or because of an alleged dispute,
breach or default in connection with any provision of this Agreement, each party shall be responsible for their own attorney’s fees and other costs. 

(ii) In the event Executive obtains a judgment enforcing his rights under Sections 2(a) and/or 3(c) of this Agreement, Executive shall be
entitled to receive from the Company payment for his attorneys fees and costs incurred in obtaining such judgment. 
 (iii) In the event the
Company obtains a judgment enforcing its rights under Section 4 of this Agreement, the Company shall be entitled to receive from Executive payment for its attorneys fees and costs incurred in obtaining such judgment. 

[ Signatures appear on following page. ] 

  
 13 

 IN WITNESS WHEREOF, the Company (through its authorized representative) and the Executive
have each executed and delivered this Agreement. 
  

							
	RE/MAX International Holdings, Inc.	  	
			
	By:	 	 /s/ David L. Liniger
	  	
		 	Name:	 	David L. Liniger	  	
		 	Title:	 	Chairman	  	
			
	Date:	 	Aug 30, 2010	  	
		
	RE/MAX, LLC	  	
			
	By:	 	 /s/ David L. Liniger
	  	
		 	Name:	 	David L. Liniger	  	
		 	Title:	 	Chairman	  	
			
	Date:	 	Aug 30, 2010	  	
		
	THE EXECUTIVE	  	
			
		 	 /s/ Mike Ryan
	  	
		 	Mike Ryan	  	
			
	Date:	 	8/30/10EX-10.1

 Exhibit 10.1 

September 18, 2013 
 Scott Mackley 

c/o QuinStreet, Inc. 
 950 Tower Lane, 6th Floor 

Foster City, CA 94404
 Dear Scott: 

We have discussed terms to ensure a smooth transition for you and for QuinStreet, Inc. (the “Company”) as you plan to pursue starting your own
business, and as we plan for your employment with the Company to conclude. This letter sets forth the substance of the transition agreement (the “Transition Agreement”) that we are prepared to offer, subject to approval by the Compensation
Committee of the Board of Directors. 
 1. SEPARATION DATE. You will
resign from your employment and all of your positions and offices held with the Company and its subsidiaries effective on October 1, 2013(the “Separation Date”). As of the Separation Date neither you nor the Company will represent
that you are an officer or fiduciary of the Company and the Company will not list you as an officer or fiduciary in any future governmental filings or other official records. 

2. CONSULTING RELATIONSHIP. The Company will engage you as a consultant
pursuant to the terms set forth in the Consulting Agreement attached hereto as Exhibit A, provided that (a) you sign the Separation Release Agreement attached hereto as Exhibit B (the “Release Agreement”) and
(b) the Release Agreement becomes effective. 
 3. CONTINUOUS SERVICE. For purposes of the
QuinStreet, Inc. 2010 Equity Incentive Plan (the “Equity Plan”), your “Continuous Service” (as defined in the Equity Plan) will terminate as of the Separation Date, unless you and the Company enter into the Consulting Agreement.
In the event that you and the Company enter into the Consulting Agreement, your “Continuous Service” (as defined in the Equity Plan) will continue during the term of the Consulting Agreement for all purposes; provided, however,
that, except as set forth in paragraph (a) below, vesting of your outstanding unvested equity awards will cease as of the Separation Date. 

a. Extended Vesting. Notwithstanding anything to the contrary, RSU Grant No. 005752, Option Award No. 005247, Option
Award No. 005248, and Option Award No. 005754 will continue to vest in accordance with their respective vesting schedules until the earlier of April 1, 2014 or the date on which the Consulting Agreement terminates, at which
time the awards will cease to vest. Subject to the terms of the Equity Plan and any applicable option agreements or awards, Consultant will have until the earlier of (i) three months after the Consultant’s Continuous Service terminates and
(ii) the expiration of the term under the equity award to exercise any stock option awards, including any such awards that were vested as of the Separation Date and any which become vested anytime thereafter, up to the date on which the
Consultant’s Continuous Service terminates.. 

 b. Cancelled Awards. You acknowledge and agree that Option Award No. 004563,
Option Award No. 006233, RSU Grant No. 005753, and RSU Grant No. 006215 will be cancelled as of the Separation Date (together, the “Cancelled Awards”), and all vested and unvested shares underlying those awards will be
returned to the Company as of the Separation Date if not earlier exercised. 
 c. No Other Modification. Except as set forth
herein and in the Consulting Agreement, the terms of your outstanding equity awards will continue to be governed in all respects by the terms of the governing plan documents and option agreements between you and the Company. Except as expressly set
forth herein, in the event of any conflict between any of the terms herein and/or in the Consulting Agreement and any terms in the applicable plan documents or option agreements, the terms herein and/or in the Consulting Agreement shall control.

 4. OTHER COMPENSATION OR BENEFITS. You
acknowledge that, except as expressly provided in this Agreement or the Consulting Agreement, you will not receive any additional compensation, severance or benefits after the Separation Date. Your Indemnification Agreement with the Company, dated
as of January 1, 2010, shall remain in full force and effect following the Separation Date according to its terms and shall not be affected in any way by this Agreement or the Release Agreement attached hereto, it being understood that
Consultant’s activities under the Consulting Agreement will not be covered under the Indemnification Agreement. 
 5.
PROPRIETARY INFORMATION OBLIGATIONS. You acknowledge and agree to abide by your continuing obligations under your Employee Proprietary Information and Inventions
Agreement, a copy of which is attached hereto as Exhibit C (“PIIA”); provided, however, that in addition to any applicable exclusions provided by California Labor Section 2870, Section 2.5 of the PIIA shall apply
only to any Inventions (as defined in the PIAA) or patent applications that are related to the Company’s business, activities or plans as contemplated as of the Separation Date; and provided, further, that notwithstanding Section 6
of the PIIA, the Company consents to your continued retention and use at all times hereafter of the Lenovo X201 laptop computer (serial no.             ), Apple iPhone 5 mobile device
(serial no.             ) and Apple iPad tablet device (serial no.             ), and in further consideration of your promises
and covenants herein, hereby transfers to you any and all right, title and interest the Company may have in each and all of those devices (not including any Company information or files stored on such devices). 

6. MISCELLANEOUS. This Agreement, including all Exhibits, constitutes the complete, final and exclusive embodiment of
the entire agreement between you and the Company with regard to its subject matter. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such
promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and
assigns of both you and the Company, and inure to the benefit of you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will
not affect any other provision of this Agreement and the 

 
provision in question will be modified so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of
the State of California, as applied to contracts made and to be performed entirely within California, without regard to any conflict of law rules thereof. Any ambiguity in this Agreement shall not be construed against either party as the drafter.
Any waiver of a breach of this Agreement shall be in writing and shall not be deemed to be a waiver of any successive breach. This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures. 

If this Agreement is acceptable to you, please sign below and return the original to me. 

Thank you for your many contributions to QuinStreet. I wish you the best in your future endeavors. 

Sincerely, 
 QUINSTREET,
INC. 
  

			
	 By:
	 	 /s/ Douglas Valenti

		 	    Douglas Valenti
		 	    Chief Executive Officer

 Exhibits: 
  

							
	 Exhibit A
	 	 	–	  	  	Consulting Agreement
	 Exhibit B
	 	 	–	  	  	Release Agreement
	 Exhibit C
	 	 	–	  	  	Employee Proprietary Information and Inventions Agreement

 I HAVE READ, UNDERSTAND AND AGREE
FULLY TO THE FOREGOING AGREEMENT: 
  

					
	 /s/ Scott Mackley
	  		  	September 18, 2013
	Scott Mackley	  		  	Date

 EXHIBIT A 

CONSULTING AGREEMENT 

(TO BE SIGNED ON THE SEPARATION DATE) 

 CONSULTING SERVICES AGREEMENT 

This CONSULTING SERVICES AGREEMENT (“Agreement”) between
QUINSTREET, INC., a Delaware corporation (the “Company”) and SCOTT MACKLEY, an individual (“Consultant”), is effective as of
October 1, 2013. 
  

	1.	PURPOSE OF ENGAGEMENT. Consultant’s employment with the Company terminated as of October 1, 2013 (“Separation Date”). The Company has determined
that Consultant’s continuous service with the Company for a period of time, and on the terms set forth herein, is in the best interests of the Company. Accordingly, the Company agrees to retain Consultant to provide consulting services on
projects in the areas of his expertise, as reasonably requested by the Company CEO or his/her designate, to consist of working to effectively transition duties, projects, organizations, business relationships, and business initiatives to others in
the Company; working to retain all other key Company employees; and attending meetings, participating in phone calls, and answering questions related to Consultant’s institutional knowledge and/or domain expertise (collectively the
“Services”). Consultant agrees to furnish the Services for the term and under the conditions set forth in this Agreement. 

  

	2.	PERFORMANCE OF SERVICES. The Services required of Consultant under this Agreement are not expected to require more than 10 hours per week for Consultant to complete.
Consultant agrees to exercise the highest degree of professionalism and utilize his expertise and creative talents in providing the Services. The Company will make its facilities and equipment available to Consultant when necessary in the
Company’s reasonable discretion. Consultant shall perform the Services in a timely and professional manner consistent with industry standards. 

  

	3.	TERM. The term of this Agreement shall begin on October 1, 2013, and shall continue, unless earlier terminated as provided herein, for a period of six months (until March 31, 2014), at
which time it will terminate unless extended in writing as agreed by both parties. 

  

	4.	CONSULTANT’S COMPENSATION.  

  

	 	(a)	Cash. During the term of this Agreement, the Company will pay Consultant cash compensation as follows: (a) for the four month period ending January 31, 2014, $31,000.00 (THIRTY-ONE THOUSAND
DOLLARS) per month; and (b) for the two month period ended March 31, 2014, $16,000.00 (SIXTEEN THOUSAND DOLLARS) per month. 

  

	 	(b)	Equity. During the term of this Agreement, Consultant’s “Continuous Service” (as defined in the QuinStreet, Inc. 2010 Equity Incentive Plan, the “Equity Plan”), will continue
during the term of the Consulting Agreement for all purposes ; provided, however, that, except as set forth in paragraph (i) below, vesting of Consultant’s outstanding unvested equity awards will cease as of the Separation Date.

  
 1. 

 (i) Extended Vesting. Notwithstanding anything to the contrary, RSU Grant
No. 005752, Option Award No. 005247, Option Award No. 005248, and Option Award No. 005754 will continue to vest in accordance with their respective vesting schedules until the earlier of April 1, 2014 or the date on
which this Agreement terminates, on which date the awards will cease to vest. Subject to the terms of the Equity Plan and any applicable option agreements or awards, Consultant will have until the earlier of (i) three months after the
Consultant’s Continuous Service terminates and (ii) the expiration of the term under the equity award to exercise any stock option awards, including any such awards that were vested as of the Separation Date and any which become vested
anytime thereafter, up to the date on which the Consultant’s Continuous Service terminates. 
 (ii) Cancelled Awards.
Consultant acknowledges and agrees that Option Award No. 004563, Option Award No. 006233, RSU Grant No. 005753, and RSU Grant No. 006215 were cancelled as of the Separation Date. 

(iii) No Other Modification. Except as set forth herein, the terms of Consultant’s outstanding equity awards will continue
to be governed in all respects by the terms of the governing plan documents and option agreements between Consultant and the Company. Except as expressly set forth herein, in the event of any conflict between any of the terms herein and any terms in
the applicable plan documents or option agreements, the terms in this Agreement shall control. 
  

	5.	OWNERSHIP OF WORKS. The parties agree that all information, documents, drawings and materials authored or prepared, in whole or in part, by Consultant
in the course of providing Services hereunder, including without limitation computer programs, computer systems, data, computer documentation or other material whatsoever (“Works”), are the sole and exclusive property of the Company.
Consultant hereby agrees to assign and, upon their authorship or creation, expressly and automatically assigns, all copyrights, proprietary rights, trade secrets and other right, title and interest in and to such Works and derivatives to the Company
and agrees to waive any rights thereto (including without limitation any moral rights, rights of authorship, or like rights). In the event that Consultant has any such rights that cannot be assigned or waived, Consultant hereby grants to the Company
an exclusive, worldwide, irrevocable, perpetual license to use, reproduce, distribute, create derivative works of, publicly perform and publicly display the Works in any medium or format, whether now known or later developed. Consultant agrees to
render all reasonably required assistance to the Company to perfect and protect the rights hereinabove described. In the event that the Company cannot secure Consultant’s signature on any document the Company deems necessary or advisable for
the registration or protection of its rights in the Works, Consultant hereby irrevocably appoints the Company as his attorney-in-fact to execute any such document, which agency is coupled with an interest. 

 

	6.	 DISCLOSURE OF PRIOR WORK PRODUCT. Any work product relating to the
Company’s business or any Services to be performed for the Company under this Agreement, which Consultant rendered or made, conceived or reduced to practice prior to signing this Agreement which is not owned by the Company (“Prior Work
Product”) shall be disclosed in writing to the Company on Exhibit A to this Agreement. Consultant shall 

  
 2. 

	 	
specifically describe and identify in Exhibit A all Prior Work Product which Consultant intends to use in performing under this Agreement, and is in existence in the form of a writing or
working prototype prior to the Effective Date, and Consultant hereby represents that all such Prior Work Product is either owned solely by Consultant or licensed to Consultant with a right to sublicense without payment of any kind. If disclosure of
any such Prior Work Product would cause Consultant to violate any prior confidentiality agreement, Consultant understands that he is not to list such Prior Work Product in Exhibit A, but he will disclose (in the space provided in Exhibit A
for such purpose) a cursory name for each such invention, a listing of the party(ies) to whom it belongs, and the fact that full disclosure as to such Prior Work Product has not been made for that reason. For all Prior Work Product which Consultant
intends to use in performing under this Agreement, Consultant grants the Company a non-exclusive, non-transferable, perpetual, irrevocable, fully paid royalty-free license to use such Prior Work Product for any purpose, including, without
limitation, sublicensing and selling products and services based thereon. 

  

	7.	 CONFIDENTIAL INFORMATION. Consultant agrees to hold the Company’s Confidential Information in strict
confidence and not to disclose such Confidential Information to any third parties. “Confidential Information” as used in this Agreement shall mean all information disclosed by the Company or learned by Consultant during the term of this
Agreement that is not generally known in the Company’s trade or industry and shall include, without limitation: (a) concepts and ideas relating to the current, future and proposed products or services of the Company or its subsidiaries or
affiliates; (b) trade secrets, drawings, inventions, or know-how; (c) information regarding plans for research, development, new offerings or products, marketing and selling, business plans, business forecasts, budgets and unpublished
financial statements, suppliers and customers; (d) existence of any business discussions, negotiations or agreements between the parties; and (e) any information regarding the skills and compensation of employees, contractors or other
agents of the Company or its subsidiaries or affiliates. Confidential Information also includes proprietary or confidential information of any third party who may disclose such information to the Company or Consultant in the course of the Company
business. Consultant’s obligations set forth in this Section 7 shall not apply with respect to any portion of the Confidential Information that Consultant can document by competent proof that such portion: (a) was in the public domain
at the time it was communicated to Consultant by the Company; (b) entered the public domain through no fault of Consultant, subsequent to the time it was communicated to Consultant by the Company; (c) was in Consultant’s possession
free of any obligation of confidence at the time it was communicated to Consultant by the Company; (d) was rightfully communicated to Consultant free of any obligation of confidence subsequent to the time it was communicated to Consultant by
the Company; or (e) was communicated by the Company to an unaffiliated third party free of any obligation of confidence. In addition, Consultant may disclose the Company’s Confidential Information solely to the extent necessary to provide
the Services specified herein, to enforce the Agreement, with the prior written consent of an authorized representative of the Company or as required by law, legal process or in response to a valid order by a court, regulatory agency or governmental
body in any criminal, civil or other proceeding or investigation. All Confidential 

  
 3. 

	 	
Information furnished to Consultant by the Company is the sole and exclusive property of the Company or its suppliers or customers. Upon request by the Company, Consultant agrees to promptly
deliver to the Company the original and any copies of such Confidential Information. 

  

	8.	CONSULTANT’S WARRANTIES. Consultant provides the following warranties to the Company: 

 

	 	(a)	Consultant’s performance of the Services called for by this Agreement does not and will not violate any contracts with third parties or any third-party rights in copyright, patent, trademark, trade secret,
right of publicity or privacy, or any other proprietary right of any person, whether contractual, statutory or common law. 

  

	 	(b)	All reports, documentation and other materials delivered by Consultant to the Company hereunder, the development and use by the Company thereof, and the performance by Consultant of Consultant’s obligations
hereunder, shall be in compliance with all applicable laws, rules and regulations as of the date of delivery thereof. 

  

	9.	TERMINATION. Either party may terminate this Agreement for any reason, with or without cause, upon written notice to the other party; provided, however, that if the Company terminates this
Agreement without “cause” as defined below, the Company shall remain obligated to continue to provide Consultant with all of the cash and equity compensation specified in Section 4 of this Agreement (including all subparts) for the
full period through and including March 31, 2014. The rights and obligations contained in Paragraphs 5 (“Ownership of Works”), 7 (“Confidential Information”) 8 (“Consultant’s Warranties”), 9
(“Termination”), 10 (“Indemnification”) 12 (“Noninterference with Business”) and 16 (“Injunctive Relief”), as well as the license grant pursuant to Paragraph 6 (“Disclosure of Prior Work Product”)
will survive any termination or expiration of this Agreement. As used herein, the term “cause” shall mean (i) an act or omission by Consultant that is in bad faith or materially detrimental to the Company; (ii) fraud or other
intentional criminal conduct by Consultant; (iii) Consultant’s misappropriation of Company trade secret information; (iv) Consultant’s failure to respond to reasonable requests by the Company for Services under this Agreement or
refusal to provide the Services specified in this Agreement after reasonable request of the Company; (v) a significant or unforeseen change in Company business such that Consultant’s services are no longer valuable or affordable to the
Company, or (vi) Consultant’s involvement in any way with any activity or relationship that is an any way competitive with Company business. 

  

	10.	 INDEMNIFICATION. Consultant hereby agrees to indemnify and hold harmless the Company and any employee or agent thereof (each of
the foregoing being hereinafter referred to individually as an “Indemnified Party”) against all liabilities, claims, losses, expenses (including without limitation attorneys’ fees, allocated costs of counsel, and legal expenses
related to such defense), fines, penalties, taxes or damages (collectively “Liabilities”) asserted by any third party where such Liabilities arise out of or result from 

  
 4. 

	 	
(1) breach of representations or warranties made by Consultant under Section 5 (Ownership of Works), Section 6 (Disclosure of Prior Work Product), Section 7 (Confidential
Information), Section 8 (Consultant’s Warranties); or (2) the violation or misappropriation by Consultant of any third party’s trade secrets, proprietary information, trademark, copyright, or patent rights. Consultant’s
obligation to indemnify and defend the Indemnified Parties will survive the cancellation, expiration or termination of this Agreement by either party for any reason. The Company shall promptly notify Consultant of any third party action arising as
described herein. The Company shall not settle or compromise any Liabilities without the express written consent of Consultant, which shall not be unreasonably withheld. 

 

	11.	NO CONFLICTS OF INTEREST. During and for a period of six (6) months immediately following expiration of this Agreement, or termination for any
reason of this Agreement by either party (the “Non-Compete Period”), Consultant will not compete directly or indirectly with the Company, nor accept work, enter into a contract, or accept an obligation from any third party, inconsistent or
incompatible with Consultant’s obligations, or the scope of Services rendered for the Company under this Agreement without the Company’s prior written consent. Consultant warrants that there is no other contract or duty on his part
inconsistent with this Agreement. With the exception of any work related to any business venture previously disclosed by Consultant to the Company, and which is not in any way competitive with Company business or activities, Consultant agrees to
provide the Company with written notification prior to commencing any other work during the Non-Compete Period (whether as a consultant, employee, advisor, director or otherwise) for any other entity, with such notice to identify the name of the
entity for which Consultant is performing services, as well as a generic description of such services. 

  

	12.	NONINTERFERENCE WITH BUSINESS. During and for a period of two (2) years immediately following expiration of this Agreement, or termination for any reason of this
Agreement by either party (the “Noninterference Period”), Consultant agrees not to solicit or induce, directly or indirectly, any employee, independent contractor or consultant to terminate or breach an employment, contractual or other
relationship with the Company. During the Noninterference Period, Consultant further agrees not to approach or attempt to establish contact with any Company client (“Client”) directly, or via a Client’s ad agency, broker or any other
person or entity, in order to solicit the Client to terminate its relationship with the Company or to discourage the Client from participating in a Company program. A “Client” will include any business entity that was a Company Client or
prospective Client at any time during the term of this Agreement. 

  

	13.	RETURN OF COMPANY PROPERTY. Upon termination of the Agreement or earlier as requested by the Company, Consultant will deliver to the Company any and all
drawings, notes, reports, memoranda, specifications, devices, formulas, and documents, together with all copies thereof, and any other material containing or disclosing any Works or Proprietary Information of the Company. Consultant further agrees
that any property situated on the Company’s premises and owned by the Company, including disks and other storage media, filing cabinets or other work areas, is subject to inspection by the Company’s personnel at any time with or without
notice. 

  
 5. 

	14.	INDEPENDENT CONTRACTOR RELATIONSHIP. Consultant agrees, represents and warrants that Consultant is an independent contractor and that Consultant is not serving as an
employee, agent or representative of the Company under this Agreement. The Company will not withhold or make payments for state or federal income tax or social security; make unemployment insurance or disability insurance contributions; or obtain
workers’ compensation insurance on Consultant’s behalf. Consultant will not receive any employee benefits from the Company such as paid holidays, vacations, sick leave or other such paid time off, or participate in the Company-sponsored
health insurance or other employee benefit plans. The Company will issue Consultant a 1099 form with respect to Consultant’s consulting fees. Consultant agrees to accept exclusive liability for complying with all applicable state and federal
laws, including without limitation obligations such as payment of quarterly taxes, social security, disability and other contributions based on fees paid to Consultant under this Agreement. Consultant shall be responsible for all taxes and other
expenses attributable to the rendition of Services hereunder to the Company, and Consultant shall indemnify, hold harmless and defend the Company from any and all claims, liabilities, damages, taxes, fines or penalties sought or recovered by any
governmental entity, including but not limited to the Internal Revenue Service or any state taxing authority, arising out of Consultant’s alleged failure to pay federal, state or local taxes during the term of this Agreement or the
Company’s failure to make withholdings or deductions from its payments to Consultant. Nothing in this Agreement shall be deemed to constitute a partnership or joint venture between the Company and Consultant, nor shall anything in this
Agreement be deemed to constitute Consultant or the Company the agent of the other. Neither Consultant nor the Company shall be liable for or bound by any representation, act or omission whatsoever of the other. 

 

	15.	NONASSIGNABILITY. Consultant shall not assign, transfer, or subcontract this Agreement or any of his obligations hereunder without the Company’s express, prior written permission.

  

	16.	INJUNCTIVE RELIEF. A breach of any of the promises or agreements contained in this Agreement may result in irreparable and continuing damage to the Company for which there may be no
adequate remedy at law, and the Company is therefore entitled to seek injunctive relief as well as such other and further relief as may be appropriate. 

  

	17.	SEVERABILITY AND GOVERNING LAW. In the event that any term or provision of this Agreement shall be held to be invalid, void or unenforceable, then the
remainder of this Agreement shall not be affected, impaired or invalidated, and each such term and provision of this Agreement shall be modified so as to render it lawful and enforceable to the fullest extent permitted by law consistent with the
general intent of the parties insofar as possible. This Agreement shall be governed by and construed in accordance with the laws of the state of California, as such laws are applied to agreements between California residents made and to be performed
entirely in California, without regard to any conflict of law rules thereof. In the event of any action or proceeding to enforce any provision of this Agreement, in addition to any other relief awarded, the prevailing party will be entitled to
recover reasonable attorneys’ fees. 

  
 6. 

	18.	WAIVER. No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach. No waiver by the Company of any right under this Agreement shall be
construed as a waiver of any other right. The Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement. 

  

	19.	NOTICES. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered
personally; (ii) by overnight courier upon written verification of receipt; (iii) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt
requested, upon verification of receipt. Notice to Consultant shall be sent to the addresses set forth below or such other address as Consultant shall specify in writing. 

 

	20.	ENTIRE AGREEMENT. This Agreement, including all exhibits, is the final, complete and exclusive embodiment of the agreement of the parties with respect to the subject matter hereof
and supersedes and merges all prior discussions, representations, or promises with respect to that subject matter. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in
writing and signed by the party to be charged. The terms of this Agreement will govern all Services undertaken by Consultant for the Company. This Agreement will be binding on and inure to the benefit of each of the parties and their executors,
administrators, heirs, successors and assigns. The Company will require any successor in interest to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform absent
such succession. Sections and section headings contained in this Agreement are for reference purposes only, and shall not affect in any manner the meaning or interpretation of this Agreement. 

IN WITNESS WHEREOF, the parties hereto have signed this Agreement, or caused it to be
signed by their duly authorized representatives, as of the day and year first above mentioned. 
  

							
	Scott Mackley	  		  	QuinStreet, Inc.
			
	  
	  		  	  

		  		  	By:	  	Doug Valenti
				
		  		  	Title:	  	Chief Executive Officer

  

							
	Address:	  		  	Address:	  	    950 Tower Lane, 6th Floor
		  		  		  	    Foster City, CA 94404

  
 7. 

 EXHIBIT A 

PRIOR WORK PRODUCT DISCLOSURE 

[See Section 6 of Agreement] 

1. Except as listed in Section 2 below, the following is a complete list of all Prior Work Product (relating to the Company’s
business or the Services described in the Consulting Agreement) made, conceived or first reduced to practice by Consultant alone or jointly with others prior to Consultant’s engagement by the Company: 

 

			
	 ̈	  	No inventions or improvements.
		
	 ̈	  	See below:
		
		  	  

		
		  	  

		
		  	  

		
	 ̈	  	Additional sheets attached.

 2. Due to a prior confidentiality agreement, Consultant cannot complete the disclosure under
Section 1 above with respect to the inventions or improvements generally described below, the proprietary rights and duty of confidentiality with respect to which Consultant owes to the following party(ies): 

 

											
	Invention or Improvement	  		  	Party(ies)	  		  	Relationship
						
	1.	  	  
	  		  	  
	  		  	  

						
	2.	  	  
	  		  	  
	  		  	  

						
	3.	  	  
	  		  	  
	  		  	  

						
	 ̈	  	Additional sheets attached.	  		  		  		  	

 BACKGROUND TECHNOLOGY DISCLOSURE 

The following is a list of all Background Technology that Consultant intends to use in performing under this Agreement: 

 

	
	  

	
	  

	
	  

  
 1. 

 EXHIBIT B 

RELEASE AGREEMENT 
 (TO
BE SIGNED WITHIN TWENTY-ONE DAYS AFTER 
 PRESENTATION OF TRANSITION AGREEMENT) 

In exchange for the benefits to be provided to me by QuinStreet, Inc. (the “Company”) pursuant to the Transition Agreement between the Company and
me dated September     , 2013 (the “Transition Agreement”), I hereby provide the following Release. 
 I hereby generally and
completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, insurers, affiliates and assigns from any and all claims, liabilities and
obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions prior to or on the date I sign this Release. 

This general release includes, but is not limited to: (1) all claims arising out of or in any way related to my employment with the Company; (2) all
claims related to my compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, fringe benefits, stock, stock options or any other ownership interests in the Company; (3) all claims
for breach of contract, wrongful termination or breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress and discharge in violation of public policy; and
(5) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with
Disabilities Act of 1990, the federal Age Discrimination in Employment Act, as amended (the “ADEA”), or the California Fair Employment and Housing Act (as amended). 

Notwithstanding the foregoing, I am not hereby releasing the Company from any of the following claims (collectively, the “Excluded Claims”):
(a) any rights or claims for indemnification or related duties I may have pursuant to any written indemnification agreement with the Company to which I am a party, the charter, bylaws, or operating agreements of the Company, or under applicable
law; (b) any rights or claims to any vested RSU grants, stock option awards or other vested benefits under any Company-sponsored benefit plans; (c) any rights as an existing shareholder of the Company; (d) any rights to coverage under
any director and officer liability insurance or other insurance policies of the Company or under COBRA or similar state law; (e) any claims for breach of my Transition Agreement or Consulting Agreement with the Company; (f) any rights
which cannot be waived as a matter of law; and (g) any claims arising from events, acts, conduct or omissions occurring after the effective date of this Release. In addition, nothing herein prevents me from filing, cooperating with, or
participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that I hereby waive my right to any monetary benefits in connection with
any such claim, charge or proceeding. 

 I acknowledge that I am are knowingly and voluntarily waiving and releasing any rights I may have under
the ADEA (“ADEA Waiver”). I also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which I was were already entitled. I further acknowledge that I have been advised by this writing, as
required by the ADEA, that: (a) my ADEA Waiver does not apply to any rights or claims that arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release; (c) I have had twenty-one
(21) days to consider this Release; (d) I have seven (7) days following the date I sign this Release to revoke (in a written revocation sent to the Company’s Chief Executive Officer); and (e) this Release will not be
effective until the date upon which the revocation period has expired, which will be the eighth day after I sign this Release; provided, however, that notwithstanding any other provision herein, if the Compensation Committee of the
Company’s Board of Directors fails to approve the Transition Agreement prior to the eighth day after I sign this Release, this Release shall be entirely null and void.  

In granting the release herein, which includes claims which may be unknown to me at present, I acknowledge that I have read and understand Section 1542
of the California Civil Code: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially
affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law or legal principle of similar effect in any jurisdiction with respect to the releases granted
herein, including but not limited to the release of unknown and unsuspected claims granted in this Agreement. 
 I hereby represent that to date: (i) I
have been paid all compensation owed and have been paid for all hours worked; (ii) I have received all the leave and leave benefits and protections for which I am eligible pursuant to the federal Family and Medical Leave Act, the California
Family Rights Act, or otherwise; and (iii) I have not suffered any on-the-job injury for which I have not already filed a workers’ compensation claim. 

 

			
	By:	 	  

		 	    Scott Mackley
		
	Date:	 	  

 EXHIBIT C 

EMPLOYEE PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]