On January 15, 2016, Lincoln Educational Services Corporation and Kenneth Swisstack, Executive Vice President and General Counsel of the company, mutually agreed to terminate Mr. Swisstack's employment agreement, dated as of June 2, 2014, as amended on March 12, 2015, following Mr. Swisstack's resignation from the company tendered on such date. The Separation Agreement provides that Mr. Swisstack's employment with the Company will terminate as of the close of business on January 22, 2016. Alexandra M. Luster, who currently holds the position of Vice President and Corporate Counsel, will be assuming Mr. Swisstack's duties and will hold the title of Interim General Counsel.