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Adtalem Global Education Inc. – ‘10-K’ for 6/30/14 – ‘EX-10.R’

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.R’   —   Material Contract


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



Exhibit 10(r)

 

FORM OF ISO GRANT (EMPLOYEE)

 

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:
____________________
____________________
____________________
 
Option Awards Granted: __________
 
Grant Type : Incentive Stock Option
 
Expiration Date : ____________________
 
Purchase Price : $ ______
 
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 an employee of DeVry Group or one of its subsidiaries and has been selected by the Compensation Committee of DeVry Group’s Board of Directors (the “Committee”) to receive the grant of a stock option under the Plan.

 

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

 

 C: 
 
 

 

1.          Grant; Option Price. This Agreement evidences the grant to the Participant, pursuant to the terms of the Plan, of a stock option to purchase the number of shares of common stock of DeVry Group (“Common Stock”) set forth above (the “Option”). The purchase price of each share of Common Stock subject to the Option shall be the Purchase Price set forth above. The grant is intended to be an incentive stock option as that term is described in Section 422(b) of the Internal Revenue Code of 1986, as amended (the “Code”). The Agreement and Option grant 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.

 

2.          Vesting and Expiration of Option. Subject to the following terms and conditions of this Agreement, the Option shall become vested and exercisable in accordance with the Vesting Schedule set forth above, and all rights with respect to the Option shall automatically terminate on the Expiration Date set forth above.

 

(a)          If the Participant`s employment with DeVry Group and all affiliates terminates due to death or disability, the Option shall become fully vested and exercisable as of the date of such termination and shall continue to be exercisable until the Expiration Date. For this purpose, “disability” means the Participant’s being determined to be disabled under DeVry Group’s long-term disability plan, regardless of whether the Participant is an actual participant in such plan (if the Participant is a participant in such plan, the determination of disability shall be made by the party responsible for making such determination under the plan, and if the Participant is not a participant in such plan, the determination of disability shall be made by the Committee in its sole discretion).

 

(b)          If the Participant`s employment with DeVry Group and all affiliates terminates due to mutual agreement, the Participant shall be credited with one additional year of service for purposes of determining the vested and exercisable portion of the Option and such portion of the Option shall continue to be exercisable until the earlier of the first anniversary of such termination of employment or the Expiration Date. For this purpose, “mutual agreement” means a written agreement between DeVry Group and the Participant that the Participant’s employment with DeVry Group and all affiliates will be voluntarily terminated; provided that such agreement must be executed by the Participant within 21 days after written notice is given by either party of the impending termination, and if no such agreement is executed by the Participant within such 21-day period, no mutual agreement shall be deemed to exist.

 

(c)          If the Participant`s employment with DeVry Group and all affiliates terminates due to retirement, the Option shall continue to vest and become exercisable in accordance with the Vesting Schedule, and once vested and exercisable, shall remain exercisable until the Expiration Date. For this purpose, “retirement” means the Participant`s termination without cause on or after the date on which the Participant has attained age 55 and the sum of his or her age and service equals or exceeds 65. For this purpose (i) the term “cause” means the Participant’s termination of employment due to unsatisfactory performance or conduct detrimental to DeVry Group or its affiliates, as determined solely by DeVry Group and (ii) the term “service” means the Participant’s period of employment with DeVry Group and all affiliates (including any predecessor company or business acquired by DeVry Group or any affiliate, provided the Participant was immediately employed by DeVry Group or any affiliate). Age and service shall be determined in fully completed years.

 

 C: 
 C: 2
 

  

Any Participant whose employment terminates due to retirement as described in this Section 2(c) must execute and deliver to DeVry Group an agreement, in a form prescribed by DeVry Group, and in accordance with procedures established by DeVry Group, that he or she will not compete with, or solicit employees of, DeVry Group and its affiliates for the remainder of the vesting period, and that he or she releases all claims against DeVry Group and its affiliates. If the Participant fails to execute such agreement, or if the agreement is revoked by the Participant, the Option shall be forfeited to DeVry Group on the date of the Participant’s retirement.

 

(d)          If the Participant`s employment with DeVry Group and all affiliates is terminated without cause (as defined in Section 2(c) above), or due to his or her resignation, the portion of the Option not then vested and exercisable shall be cancelled and forfeited and the portion of the Option then vested and exercisable shall continue to be exercisable for 90 days following the date of such termination of employment.

 

(e)          If the Participant`s employment with DeVry Group and all affiliates is terminated for cause (as defined in Section 2(c) above), the portion of the Option not then vested and exercisable shall be cancelled and forfeited and no portion of the Option shall be exercisable after the date of such termination of employment.

 

(f)          For purposes of this Agreement, the term “affiliate” means each entity with whom DeVry Group would be considered a single employer under Sections 414(b) and 414(c) of the Code, substituting “at least 50%” instead of “at least 80%” in making such determination.

 

(g)          The foregoing provisions of this Section 2 shall be subject to the provisions of any written employment security agreement or severance agreement that has been or may be executed by the Participant and DeVry Group, and the provisions in such employment security agreement or severance agreement concerning vesting and exercise of an Option shall supersede any inconsistent or contrary provision of this Section 2.

 

(h)          If the Fair Market Value of shares subject to the portion of an Option (determined with respect to each Option at the time of grant) that vests during a calendar year exceeds $100,000, the portion of such Option that exceeds this limitation shall be a nonqualified stock option. Thus, accelerated vesting of the Option may result in all or any part of the Option being treated as a nonqualified stock option.

 

 C: 
3
 

  

3.           Exercise.

 

(a)          While the Option is vested and exercisable pursuant to Section 2, the Option may be exercised in whole or in part by filing a written notice with the Secretary of DeVry Group at its corporate headquarters. The exercise notice must be filed by the Participant, or his or her beneficiary in the event of the Participant’s death, while the Option is still exercisable, must specify the number of shares of Common Stock which the Participant elects to purchase and must be accompanied by payment of the purchase price.

 

(b)          Payment of the purchase price shall be by one or more of the following methods: (i) in cash, (ii) in cash received from a broker-dealer to whom the Participant has submitted an exercise notice and irrevocable instructions to deliver the purchase price to DeVry Group from the proceeds of the sale of shares subject to the Option, (iii) by delivery (including attestation) to DeVry Group of other shares of Common Stock owned by the Participant that is acceptable to DeVry Group, valued at its then Fair Market Value, or (iv) by directing DeVry Group to withhold such number of shares of Common Stock otherwise issuable upon exercise of the Option with a Fair Market Value equal to the amount of the payment to be withheld.

 

(c)          No shares of Common Stock shall be issued upon exercise of the Option until full payment of the exercise price has been made.

 

4.           Change in Control. In the event of a Change in Control of DeVry Group (as defined in the Plan), the Option shall become immediately vested and exercisable, and the Committee shall have the sole discretion to appropriate actions with respect to the vested Option, including: (i) to provide for the mandatory purchase of the Option for an amount of cash equal to the difference between the purchase price of the Option and the then Fair Market Value of the Common Stock covered by the Option, multiplied by the number of shares of Common Stock covered by the Option; or (ii) to cause such Option to be assumed by, and converted to equity awards for Common Stock of, the acquiring or surviving corporation.

 

5.           Transferability. The Option may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, or pursuant to a qualified domestic relations order.

 

6.           Administration. The authority to manage and control the operation and administration of this Agreement shall be vested in the Committee. The Committee shall have all of the powers with respect to this Agreement as with respect to the Plan. Any interpretation of, or decision with respect to, this Agreement made by the Committee shall be final and binding on all persons.

 

7.           Plan Governs. Notwithstanding anything in this Agreement to the contrary, the terms of this Agreement shall be subject to the terms of the Plan.

 

 C: 
4
 

  

8.          Successors. This Agreement shall be binding upon and shall inure to the benefit of any assignee or successor in the interest of DeVry Group, and shall be binding upon and inure to the benefits of any estate, legal representative, beneficiary or heir of the Participant.

 

9.          Beneficiary Designation. The Participant may, from time to time, name any beneficiary or beneficiaries to exercise any vested Option and to whom distribution of the shares of Common Stock subject to the vested Option 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.

 

10.         Participant and Stockholder Status. This Agreement does not constitute a contract of continued service and does not give the Participant the right to be retained as an employee of DeVry Group. This Agreement does not confer upon the Participant any right as a stockholder of DeVry Group prior to the issuance of Common Stock pursuant to the exercise of the Option.

 

11.         Amendment. This Agreement may be amended by written agreement of the Participant and the Committee.

 

12.         Governing Law. This Agreement, and the Option, shall be construed, administered and governed in all respects under and by the laws of the State of Delaware.

 

13.         Acceptance of Agreement by Participant. The Participant’s receipt of the Option 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: 
5

 

 


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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