1847 Holdings LLC 590 Madison Avenue 18th Floor New York, NY 98001
Exhibit 10.1
1847 Holdings LLC
590 Madison Avenue
18th Floor
New York, NY 98001
September 11, 2015
Mr. Jarrod Clarke
Jarrod Clarke Holdings, Inc.
Money Train Title Loans, LLC
On Track, LLC
8661 Sandy Parkway
Sandy, UT 84070
Re: Termination of Membership Interest Purchase Agreement
Dear Jarrod:
As you know, on March 6, 2015, Monrovia Auto Finance, Inc. (formerly Monrovia Money Train, Inc.) entered into a Membership Interest Purchase Agreement (the "Purchase Agreement") with you, Jarrod Clarke Holdings, Inc., Money Train Title Loans, LLC and On Track, LLC.
Monrovia Auto Finance, you and the other parties to the Purchase Agreement now desire to terminate the Purchase Agreement pursuant to and in accordance with Section 8.1(a) thereof. By signing this agreement below, Monrovia Auto Finance, you and the other parties to the Purchase Agreement hereby confirm the termination of the Purchase Agreement with the effect described in Section 8 thereof.
| Very truly yours, | ||
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| MONROVIA AUTO FINANCE, INC. |
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| By: | /s/ Ellery W. Roberts |
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| Ellery W. Roberts |
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| Chief Executive Officer |
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ACCEPTED AND AGREED AS OF
THE DATE FIRST ABOVE WRITTEN:
MONEY TRAIN TITLE LOANS, LLC |
| ON TRACK, LLC |
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By: | /s/ Jarrod Clarke |
| By: | /s/ Jarrod Clarke |
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Name: | Jarrod Clarke |
| Name: | Jarrod Clarke |
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Title: | Manager |
| Title: | Manager |
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JARROD CLARKE HOLDINGS, INC. |
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By: | /s/ Jarrod Clarke |
| By: | /s/ Jarrod Clarke |
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Name: | Jarrod Clarke |
| Name: | Jarrod Clarke |
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Title: | President |
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