My 10 year old is struggling with entitlement

This is a new phase idk what to do about it. He feels entitled to things that is a privilege he's lazy he doesn't have the drive to work for anything anymore. It's largely our fault mostly his dad he had a excellent year in school last semester he was rewarded abundantly.

This semester is harder he's producing average work but is still expecting rewards. How do I reverse this? Is it too late? All he care about is gifts, honestly it's getting annoying.