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Adtalem Global Education Inc. – ‘10-K’ for 6/30/14 – ‘EX-10.T’

On:  Wednesday, 8/27/14, at 3:48pm ET   ·   For:  6/30/14   ·   Accession #:  1144204-14-52733   ·   File #:  1-13988

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/27/14  Adtalem Global Education Inc.     10-K        6/30/14  118:17M                                    Toppan Merrill/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.21M 
11: EX-10.II    Material Contract                                   HTML    103K 
 2: EX-10.O     Material Contract                                   HTML     54K 
 3: EX-10.P     Material Contract                                   HTML     52K 
 4: EX-10.Q     Material Contract                                   HTML     53K 
 5: EX-10.R     Material Contract                                   HTML     50K 
 6: EX-10.T     Material Contract                                   HTML     45K 
 7: EX-10.U     Material Contract                                   HTML     49K 
 8: EX-10.V     Material Contract                                   HTML     52K 
 9: EX-10.W     Material Contract                                   HTML     49K 
10: EX-10.X     Material Contract                                   HTML     45K 
12: EX-21       Subsidiaries List                                   HTML     46K 
13: EX-23       Consent of Experts or Counsel                       HTML     34K 
14: EX-31       Certification -- §302 - SOA'02                      HTML     44K 
15: EX-32       Certification -- §906 - SOA'02                      HTML     34K 
82: R1          Document And Entity Information                     HTML     65K 
67: R2          Consolidated Balance Sheets                         HTML    171K 
78: R3          Consolidated Balance Sheets (Parenthetical)         HTML     46K 
86: R4          Consolidated Statements of Income                   HTML    155K 
108: R5          Consolidated Statements of Comprehensive Income     HTML     55K  
69: R6          Consolidated Statements of Cash Flows               HTML    171K 
77: R7          Consolidated Statements of Shareholders' Equity     HTML     90K 
                and Comprehensive Income                                         
61: R8          Consolidated Statements of Shareholders' Equity     HTML     35K 
                and Comprehensive Income (Parenthetical)                         
51: R9          Nature of Operations                                HTML     43K 
110: R10         Assets and Liabilities of Divested Component and    HTML     84K  
                Discontinued Operations                                          
88: R11         Summary of Significant Accounting Policies          HTML    147K 
87: R12         Stock-Based Compensation                            HTML    156K 
94: R13         Fair Value Measurements                             HTML     69K 
95: R14         Financing Receivables                               HTML     99K 
92: R15         Dividends and Stock Repurchase Programs             HTML     72K 
96: R16         Business Combinations                               HTML     80K 
79: R17         Intangible Assets                                   HTML    223K 
83: R18         Restructuring Charges                               HTML     51K 
90: R19         Income Taxes                                        HTML    162K 
118: R20         Debt                                                HTML     42K  
104: R21         Employee Benefit Plans                              HTML     38K  
73: R22         Shareholder Rights Plan                             HTML     44K 
89: R23         Commitments and Contingencies                       HTML     61K 
75: R24         Segment Information                                 HTML    192K 
42: R25         Quarterly Financial Data (Unaudited)                HTML    165K 
105: R26         Valuation and Qualifying Accounts and Reserves      HTML    130K  
114: R27         Summary of Significant Accounting Policies          HTML    213K  
                (Policies)                                                       
56: R28         Assets and Liabilities of Divested Component and    HTML     81K 
                Discontinued Operations (Tables)                                 
55: R29         Summary of Significant Accounting Policies          HTML     89K 
                (Tables)                                                         
59: R30         Stock-Based Compensation (Tables)                   HTML    154K 
60: R31         Fair Value Measurements (Tables)                    HTML     57K 
62: R32         Financing Receivables (Tables)                      HTML     97K 
30: R33         Dividends and Stock Repurchase Program (Tables)     HTML     73K 
102: R34         Business Combinations (Tables)                      HTML     68K  
71: R35         Intangible Assets (Tables)                          HTML    199K 
74: R36         Restructuring Charges (Tables)                      HTML     45K 
46: R37         Income Taxes (Tables)                               HTML    159K 
117: R38         Commitments and Contingencies (Tables)              HTML     42K  
22: R39         Segment Information (Tables)                        HTML    188K 
64: R40         Quarterly Financial Data (Unaudited) (Tables)       HTML    163K 
107: R41         NATURE OF OPERATIONS - Additional Information       HTML     40K  
                (Detail)                                                         
44: R42         Assets and Liabilities of Divested Component and    HTML     80K 
                Discontinued Operations (Balance Sheet Information               
                of Held for Sale Assets and Liabilities) (Detail)                
54: R43         Assets and Liabilities of Divested Component and    HTML     48K 
                Discontinued Operations (Operating Results of the                
                Discontinued Operations) (Detail)                                
58: R44         Assets and Liabilities of Divested Component and    HTML     34K 
                Discontinued Operations - Additional Information                 
                (Detail)                                                         
68: R45         Summary of Significant Accounting Policies          HTML     48K 
                (Available-For-Sale Marketable Securities)                       
                (Detail)                                                         
29: R46         Summary of Significant Accounting Policies          HTML     45K 
                (Reconciliation of Non-Controlling Interest                      
                Balance) (Detail)                                                
50: R47         Summary of Significant Accounting Policies          HTML     48K 
                (Reconciliation of Basic Shares to Diluted Shares)               
                (Detail)                                                         
24: R48         Summary of Significant Accounting Policies -        HTML    101K 
                Additional Information (Detail)                                  
106: R49         Stock-Based Compensation (Summary of Options        HTML     76K  
                Activity) (Detail)                                               
43: R50         Stock-Based Compensation (Summary of Stock          HTML     78K 
                Appreciation Rights Activity) (Detail)                           
103: R51         Stock-Based Compensation (Fair Values of Stock      HTML     48K  
                Option Awards Weighted Average Assumptions)                      
                (Detail)                                                         
47: R52         Stock-Based Compensation (Summary of Restricted     HTML     59K 
                Stock Activity) (Detail)                                         
65: R53         Stock-Based Compensation (Total Stock-Based         HTML     45K 
                Compensation Expense Included in Consolidated                    
                Statement of Earnings) (Detail)                                  
23: R54         Stock-Based Compensation - Additional Information   HTML     65K 
                (Detail)                                                         
27: R55         Fair Value Measurements (Assets Measured at Fair    HTML     46K 
                Value on Recurring Basis) (Detail)                               
57: R56         Fair Value Measurements (Roll-Forward of Assets     HTML     43K 
                and Liabilities Measured at Fair Value using Level               
                Three Inputs) (Detail)                                           
35: R57         Fair Value Measurements - Additional Information    HTML     65K 
                (Detail)                                                         
111: R58         Financing Receivables (Institutional Loan Balances  HTML     52K  
                and Related Allowances for Credit Losses) (Detail)               
70: R59         Financing Receivables (Credit Risk Profiles of      HTML     39K 
                Institutional Student Loan Balance) (Detail)                     
93: R60         Financing Receivables (Institutional Student Loans  HTML     50K 
                Past Due) (Detail)                                               
49: R61         Financing Receivables - Additional Information      HTML     56K 
                (Detail)                                                         
52: R62         Dividends and Stock Repurchase Program (Cash        HTML     56K 
                Dividends Declared) (Detail)                                     
100: R63         Dividends and Stock Repurchase Program (Shares      HTML     44K  
                Repurchased under Programs) (Detail)                             
97: R64         Dividends and Stock Repurchase Program -            HTML     42K 
                Additional Information (Detail)                                  
72: R65         Business Combinations (Estimated Fair Values of     HTML     57K 
                Assets Acquired and Liabilities Assumed) (Detail)                
99: R66         Business Combinations (Acquired Intangible Assets   HTML     40K 
                Subject to Amortization and Values and Estimated                 
                Useful Lives) (Detail)                                           
48: R67         Business Combinations - Additional Information      HTML     57K 
                (Detail)                                                         
76: R68         Intangible Assets (Schedule of Intangible Assets)   HTML     66K 
                (Detail)                                                         
113: R69         Intangible Assets (Schedule of Intangible Assets)   HTML     39K  
                (Parenthetical) (Detail)                                         
26: R70         Intangible Assets (Estimated Amortization Expense   HTML     58K 
                for Amortized Intangible Assets) (Detail)                        
41: R71         Intangible Assets (Summary of Goodwill Balances by  HTML     45K 
                Reporting Unit) (Detail)                                         
66: R72         Intangible Assets (Summary of Goodwill Balances by  HTML     41K 
                Reporting Segment) (Detail)                                      
33: R73         Intangible Assets (Changes in Carrying Amount of    HTML     57K 
                Goodwill, by Segment) (Detail)                                   
116: R74         Intangible Assets (Summary of Indefinite-Lived      HTML     39K  
                Intangible Assets Balances by Reporting Unit)                    
                (Detail)                                                         
45: R75         Intangible Assets - Additional Information          HTML     92K 
                (Detail)                                                         
36: R76         Restructuring Charges (Separation and               HTML     41K 
                Restructuring Plan Activity) (Detail)                            
40: R77         Restructuring Charges - Additional information      HTML     56K 
                (Detail)                                                         
28: R78         Income Taxes (Components of Income Before Income    HTML     39K 
                Taxes) (Detail)                                                  
32: R79         Income Taxes (Income Tax Provisions (Benefits))     HTML     68K 
                (Detail)                                                         
84: R80         Income Taxes (Income Tax Provisions Computed using  HTML     77K 
                Statutory U.S. Federal Rate) (Detail)                            
38: R81         Income Taxes (Deferred Income Tax Asset             HTML     69K 
                (Liabilities)) (Detail)                                          
112: R82         Income Taxes (Changes in Unrecognized Tax           HTML     45K  
                Benefits) (Detail)                                               
63: R83         Income Taxes - Additional Information (Detail)      HTML     70K 
91: R84         DEBT - Additional Information (Detail)              HTML     55K 
98: R85         EMPLOYEE BENEFIT PLANS - Additional Information     HTML     48K 
                (Detail)                                                         
37: R86         SHAREHOLDER RIGHTS PLAN - Additional Information    HTML     42K 
                (Detail)                                                         
39: R87         Commitments and Contingencies (Future Minimum       HTML     51K 
                Rental Commitments for Non-Cancellable Operating                 
                Leases) (Detail)                                                 
109: R88         Commitments and Contingencies - Additional          HTML     38K  
                Information (Detail)                                             
34: R89         Segment Information (Tabulation of Business         HTML     87K 
                Segment Information Based on Current Segmentation)               
                (Detail)                                                         
85: R90         Segment Information (Revenues and Long-Lived        HTML     53K 
                Assets by Geographic Area) (Detail)                              
81: R91         Segment Information - Additional Information        HTML     40K 
                (Detail)                                                         
101: R92         Quarterly Financial Data (Unaudited) (Summary of    HTML    109K  
                Quarterly Data) (Detail)                                         
80: R93         Schedule Ii (Valuation and Qualifying Accounts and  HTML     67K 
                Reserves) (Detail)                                               
115: XML         IDEA XML File -- Filing Summary                      XML    177K  
25: EXCEL       IDEA Workbook of Financial Reports                  XLSX    290K 
53: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   2.84M 
16: EX-101.INS  XBRL Instance -- dv-20140630                         XML   3.97M 
18: EX-101.CAL  XBRL Calculations -- dv-20140630_cal                 XML    249K 
19: EX-101.DEF  XBRL Definitions -- dv-20140630_def                  XML   1.71M 
20: EX-101.LAB  XBRL Labels -- dv-20140630_lab                       XML   1.84M 
21: EX-101.PRE  XBRL Presentations -- dv-20140630_pre                XML   1.78M 
17: EX-101.SCH  XBRL Schema -- dv-20140630                           XSD    275K 
31: ZIP         XBRL Zipped Folder -- 0001144204-14-052733-xbrl      Zip    316K 


‘EX-10.T’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 

Exhibit 10 (t)

 

FORM OF FULL VALUE SHARE AWARD (DIRECTOR)

 

Congratulations! Your contributions over the past fiscal year are being recognized with a long-term incentive award. Recognizing and rewarding the contributions of our people remains a priority as we continue to pursue our vision of becoming the leading global provider of career-oriented educational services. Thank you for all of your hard work, support and dedication.

 

Participant Name: ___________________

 

Participant Address:
____________________
____________________
____________________

 

Awards Granted : __________________

 

Award Type : Restricted Stock Units

 

Plan : Second Amended and Restated Incentive Plan of 2013

 

Days Left to Accept : __

 

Award Date : __________________

 

Vesting Schedule : __________________________

 

 

THIS AGREEMENT, made and entered into as of the Award Date by and between DeVry Education Group Inc., a Delaware corporation (“DeVry Group”), and the Participant.

 

WHEREAS, DeVry Group maintains the DeVry Education Group Inc. Second Amended and Restated Incentive Plan of 2013 (the “Plan”); and

 

WHEREAS, the Participant is a member of the board of directors of DeVry Group or one of its subsidiaries (a “Director”) who is entitled to receive an award of Stock Units (this award is referred to as “Full Value Shares” in this Agreement because it represents the Participant’s ability to receive actual shares of common stock of DeVry Group (“Common Stock”) as the Full Value Share award vests).

 

NOW, THEREFORE, DeVry Group and the Participant hereby agree as follows:

 

1.          Agreement. This Agreement evidences the award to the Participant of the number of Full Value Shares relating to the Common Stock of DeVry Group as set forth above. A Full Value Shares is the right to receive a distribution of a share of Common Stock for each Full Value Shares as described in Section 5 of the Agreement. The Agreement and Full Value Shares award shall be subject to the following terms and conditions and the provisions of the Plan, which are hereby incorporated by reference. A copy of the Plan may be obtained by the Participant from the office of the Secretary of DeVry Group or from the stock administrator’s website.

 

 C: 
 
 

 

2.          Full Value Shares Account. DeVry Group shall maintain an account (the “Account”) on its books in the name of the Participant which shall reflect the number of Full Value Shares awarded to the Participant and not vested. Until the Full Value Shares vest, they are not actual shares of Common Stock, but represent the right to receive shares of Common Stock upon vesting.

 

3.          Dividend Equivalents. Upon the payment of any dividends on Common Stock occurring while any portion of the Participant’s Full Value Shares award is outstanding, DeVry Group shall promptly pay to each Participant an amount in cash equal to the dividends that the Participant would have received had the Participant been the actual owner of the number of shares of Common Stock represented by the Full Value Shares in the Participant’s Account on that date.

 

4.          Vesting.

 

(a)          The Participant shall become vested in his or her Full Value Share award in accordance with the Vesting Schedule set forth above

 

(b)          If the Participant ceases to be a Director prior to the completion of the Vesting Schedule due to death or disability, the Full Value Share award shall become fully vested on such date. For this purpose “disability” means the Participant is determined to be totally disabled by the Social Security Administration.

 

(c)          Notwithstanding the foregoing, the Participant shall forfeit any unvested portion of the Full Value Share award if the Participant ceases to be a Director due to gross misconduct. For purposes of this Agreement, gross misconduct shall mean (i) the Participant commits a felony or other crime involving moral turpitude or commits any other act or omission involving misappropriation, dishonesty, fraud, illegal drug use or breach of fiduciary duty, (ii) the Participant’s gross negligence or willful misconduct with respect to the performance of the Participant’s duties as a Director, or (iii) the Participant commits a material violation of the DeVry Group Code of Business Conduct and Ethics.

 

5.          Settlement of Award. If and when a Participant becomes vested in his or her Full Value Share award in accordance with Section 4, DeVry Group shall distribute to him or her, or his or her personal representative, beneficiary or estate, as applicable, a number of shares of Common Stock equal to the number of vested Full Value Shares. Such shares shall be delivered within 30 days following the date of vesting.

 

 C: 
 C: 2
 

 

6.          Withholding Taxes. The Participant shall pay to DeVry Group an amount sufficient to satisfy all minimum Federal, state and local withholding tax requirements arising in connection with the vesting of the Full Value Shares award prior to the delivery of any shares subject to such Full Value Shares award. Payment of such taxes may be made by one or more of the following methods: (a) in cash, (b) in cash received from a broker-dealer to whom the Participant has submitted irrevocable instructions to deliver the amount of withholding tax to DeVry Group from the proceeds of the sale of shares subject to the Full Value Shares award, (c) by directing DeVry Group to withhold a number of shares otherwise issuable pursuant to the Full Value Shares award with a fair market value equal to the tax required to be withheld, or (d) by delivery (including attestation) to DeVry Group of other Common Stock owned by the Participant that is acceptable to DeVry Group, valued at its fair market value on the date of payment.

 

7.          Change in Control. In the event of a Change in Control of DeVry Group (as defined in the Plan), the Participant shall become immediately vested in his or her Full Value Share award, and the Compensation Committee of DeVry Group’s Board of Directors (the “Committee”) shall have the sole discretion to take appropriate actions with respect to the Full Value Share award, including (a) to cause such Full Value Share award to be settled in shares of Common Stock as described in Section 5 above, which shares shall be subject to the terms of the Change in Control event in the same manner as the other shares of outstanding Common Stock, or (b) to provide for the mandatory purchase of the Full Value Share award for an amount of cash equal to the then Fair Market Value of the Common Stock, multiplied by the number of Full Value Shares subject to the Full Value Share award.

 

8.          Rights as Stockholder. The Participant shall not be entitled to any of the rights of a stockholder of DeVry Group with respect to the Full Value Shares award, including the right to vote and to receive dividends and other distributions, until and to the extent the Full Value Shares award vests and is settled in shares of Common Stock.

 

9.          Share Delivery. Delivery of any shares in connection with settlement of the Full Value Shares award will be by book-entry credit to an account in the Participant’s name established by DeVry Group with DeVry Group’s transfer agent, or upon written request from the Participant (or his or her personal representative, beneficiary or estate, as the case may be), in certificates in the name of the Participant (or his or her personal representative, beneficiary or estate).

 

10.         Award Not Transferable. The Full Value Shares award may not be transferred other than by will or the applicable laws of descent or distribution or pursuant to a qualified domestic relations order. The Full Value Shares award shall not otherwise be assigned, transferred, or pledged for any purpose whatsoever and is not subject, in whole or in part, to attachment, execution or levy of any kind. Any attempted assignment, transfer, pledge, or encumbrance of the Full Value Shares award, other than in accordance with its terms, shall be void and of no effect.

 

11.         Beneficiary Designation. The Participant may, from time to time, name any beneficiary or beneficiaries to whom distribution of the shares of Common Stock subject to the vested portion of the Full Value Shares award is to be made, in the event of his or her death. Each such designation will revoke all prior designations, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant with the Committee during his or her lifetime. In the absence of any such designation, or if all beneficiaries predecease the Participant, then the Participant’s beneficiary shall be his or her estate.

 

 C: 
3
 

 

12.         Administration. The Full Value Shares award shall be administered in accordance with such regulations as the Committee shall from time to time adopt.

 

13.         Governing Law. This Agreement, and the Full Value Shares award, shall be construed, administered and governed in all respects under and by the laws of the State of Delaware.

 

14.         Acceptance of Agreement by Participant. The Participant’s receipt of the Full Value Shares award is conditioned upon the acceptance of this Agreement by the Participant no later than 60 days after the Award Date set forth above or, if later, 30 days after the Participant receives this Agreement. Upon execution of the Agreement, the Participant and DeVry Group signify their agreement with the terms and conditions of this Agreement.

 

[____________________________]
[TITLE]

 

 C: 
4

 

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:8/27/144,  S-8
For Period end:6/30/145
 List all Filings 


7 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/10/23  Adtalem Global Education Inc.     10-K        6/30/23  134:23M                                    Toppan Merrill Bridge/FA
 8/11/22  Adtalem Global Education Inc.     10-K        6/30/22  137:22M                                    Toppan Merrill Bridge/FA
 8/19/21  Adtalem Global Education Inc.     10-K        6/30/21  126:18M                                    Toppan Merrill Bridge/FA
 8/18/20  Adtalem Global Education Inc.     10-K        6/30/20  131:20M                                    Toppan Merrill Bridge/FA
 6/08/15  SEC                               UPLOAD10/06/17    1:36K  Adtalem Global Education Inc.
 5/13/15  SEC                               UPLOAD10/06/17    1:134K Adtalem Global Education Inc.
 2/10/15  SEC                               UPLOAD10/06/17    1:178K Adtalem Global Education Inc.
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Filing Submission 0001144204-14-052733   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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