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Adtalem Global Education Inc. – ‘10-K’ for 6/30/22 – ‘EX-10.E’

On:  Thursday, 8/11/22, at 4:13pm ET   ·   For:  6/30/22   ·   Accession #:  1558370-22-13289   ·   File #:  1-13988

Previous ‘10-K’:  ‘10-K’ on 8/19/21 for 6/30/21   ·   Next & Latest:  ‘10-K’ on 8/10/23 for 6/30/23   ·   35 References:   

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

 8/11/22  Adtalem Global Education Inc.     10-K        6/30/22  137:22M                                    Toppan Merrill Bridge/FA

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   5.19M 
 2: EX-4.A      Instrument Defining the Rights of Security Holders  HTML     48K 
 3: EX-10.D     Material Contract                                   HTML    372K 
 4: EX-10.E     Material Contract                                   HTML     52K 
 5: EX-10.F     Material Contract                                   HTML     94K 
 6: EX-10.G     Material Contract                                   HTML     38K 
 7: EX-10.PP    Material Contract                                   HTML    482K 
 8: EX-10.QQ    Material Contract                                   HTML    481K 
 9: EX-21       Subsidiaries List                                   HTML     45K 
10: EX-23       Consent of Expert or Counsel                        HTML     36K 
11: EX-31.1     Certification -- §302 - SOA'02                      HTML     41K 
12: EX-31.2     Certification -- §302 - SOA'02                      HTML     40K 
13: EX-32       Certification -- §906 - SOA'02                      HTML     39K 
19: R1          Document And Entity Information                     HTML    108K 
20: R2          Consolidated Balance Sheets                         HTML    187K 
21: R3          Consolidated Balance Sheets (Parenthetical)         HTML     43K 
22: R4          Consolidated Statements of Income (Loss)            HTML    196K 
23: R5          Consolidated Statements of Income (Loss)            HTML     39K 
                (Parenthetical)                                                  
24: R6          Consolidated Statements of Comprehensive Income     HTML     84K 
25: R7          Consolidated Statements of Cash Flows               HTML    207K 
26: R8          Consolidated Statements of Shareholders' Equity     HTML    109K 
27: R9          Nature of Operations                                HTML     42K 
28: R10         Summary of Significant Accounting Policies          HTML     64K 
29: R11         Acquisitions                                        HTML     86K 
30: R12         Discontinued Operations and Assets Held for Sale    HTML    129K 
31: R13         Revenue                                             HTML    102K 
32: R14         Restructuring Charges                               HTML     95K 
33: R15         Income Taxes                                        HTML    211K 
34: R16         Earnings per Share                                  HTML    105K 
35: R17         Accounts Receivable and Credit Losses               HTML    251K 
36: R18         Property and Equipment, Net                         HTML     57K 
37: R19         Leases                                              HTML     91K 
38: R20         Goodwill and Intangible Assets                      HTML    145K 
39: R21         Debt                                                HTML    181K 
40: R22         Redeemable Noncontrolling Interest                  HTML     53K 
41: R23         Share Repurchases                                   HTML     57K 
42: R24         Accumulated Other Comprehensive Loss                HTML    106K 
43: R25         Stock-Based Compensation                            HTML    118K 
44: R26         Employee Benefit Plans                              HTML     43K 
45: R27         Fair Value Measurements                             HTML     48K 
46: R28         Commitments and Contingencies                       HTML     52K 
47: R29         Segment Information                                 HTML    175K 
48: R30         Quarterly Financial Data (Unaudited)                HTML    169K 
49: R31         Valuation and Qualifying Accounts                   HTML     88K 
50: R32         Summary of Significant Accounting Policies          HTML     98K 
                (Policies)                                                       
51: R33         Acquisitions (Tables)                               HTML     85K 
52: R34         Discontinued Operations and Assets Held for Sale    HTML    127K 
                (Tables)                                                         
53: R35         Revenue (Tables)                                    HTML     90K 
54: R36         Restructuring Charges (Tables)                      HTML     95K 
55: R37         Income Taxes (Tables)                               HTML    213K 
56: R38         Earnings per Share (Tables)                         HTML    103K 
57: R39         Accounts Receivable and Credit Losses (Tables)      HTML    248K 
58: R40         Property and Equipment, Net (Tables)                HTML     54K 
59: R41         Leases (Tables)                                     HTML     91K 
60: R42         Goodwill and Intangible Assets (Tables)             HTML    151K 
61: R43         Debt (Tables)                                       HTML    155K 
62: R44         Redeemable Noncontrolling Interest (Tables)         HTML     51K 
63: R45         Share Repurchases (Tables)                          HTML     54K 
64: R46         Accumulated Other Comprehensive Loss (Tables)       HTML    105K 
65: R47         Stock-Based Compensation (Tables)                   HTML    118K 
66: R48         Segment Information (Tables)                        HTML    169K 
67: R49         Quarterly Financial Data (Unaudited) (Tables)       HTML    168K 
68: R50         Schedule II (Valuation and Qualifying Accounts and  HTML     88K 
                Reserves) (Tables)                                               
69: R51         Nature of Operations (Details)                      HTML     43K 
70: R52         Summary of Significant Accounting Policies          HTML     56K 
                (Additional Information) (Details)                               
71: R53         Acquisitions (Estimated Fair Values of Assets       HTML     88K 
                Acquired and Liabilities Assumed) (Details)                      
72: R54         Acquisitions (Acquired Intangible Assets Subject    HTML     48K 
                to Amortization and Values and Estimated Useful                  
                Lives) (Details)                                                 
73: R55         Acquisitions (Unaudited Proforma Financial          HTML     40K 
                Information) (Details)                                           
74: R56         Acquisitions (Additional Information) (Details)     HTML     79K 
75: R57         Discontinued Operations and Assets Held for Sale    HTML    110K 
                (Summary of Balance Sheet Information of Assets                  
                and Liabilities) (Detail)                                        
76: R58         Discontinued Operations and Assets Held for Sale    HTML     89K 
                (Summary of Income Statement Information of                      
                Operations) (Details)                                            
77: R59         Discontinued Operations and Assets Held for Sale    HTML     96K 
                (Additional Information) (Details)                               
78: R60         Revenue (Disaggregate revenue) (Details)            HTML     82K 
79: R61         Revenue (Additional Information) (Details)          HTML     44K 
80: R62         Restructuring Charges (Restructuring and Related    HTML     61K 
                Costs) (Details)                                                 
81: R63         Restructuring Charges (Separation and               HTML     42K 
                Restructuring Plan Activity) (Details)                           
82: R64         Restructuring Charges (Additional Information)      HTML     40K 
                (Detail)                                                         
83: R65         Income Taxes (Components of Income Before Income    HTML     45K 
                Taxes) (Details)                                                 
84: R66         Income Taxes (Income Tax Provisions (Benefits)      HTML     64K 
                (Details)                                                        
85: R67         Income Taxes (Income Tax Provisions Computed using  HTML     84K 
                Statutory U.S. Federal Rate) (Details)                           
86: R68         Income Taxes (Deferred Income Tax Asset             HTML     70K 
                (Liabilities) (Details)                                          
87: R69         Income Taxes (Tax Net Operating Loss (Tax           HTML     53K 
                Effected) and Credit Carryforwards) (Details)                    
88: R70         Income Taxes (Changes in Unrecognized Tax           HTML     49K 
                Benefits) (Details)                                              
89: R71         Income Taxes (Details)                              HTML     64K 
90: R72         Earnings per Share (Details)                        HTML    115K 
91: R73         Accounts Receivable and Credit Losses               HTML     82K 
                (Classification of Accounts Receivable) (Details)                
92: R74         Accounts Receivable and Credit Losses (Credit       HTML     95K 
                Quality Analysis of Financing Receivable)                        
                (Details)                                                        
93: R75         Accounts Receivable and Credit Losses (Rollforward  HTML     70K 
                of Allowances for Credit Losses) (Details)                       
94: R76         Accounts Receivable and Credit Losses (Additional   HTML     76K 
                Information) (Details)                                           
95: R77         Property and Equipment, Net (Schedule of Property   HTML     52K 
                and equipment, net) (Details)                                    
96: R78         Property and Equipment, Net (Additional             HTML     68K 
                Information) (Details)                                           
97: R79         Leases (Components of Lease Cost) (Details)         HTML     42K 
98: R80         Leases (Maturities of Lease Liabilities) (Details)  HTML     54K 
99: R81         Leases (Lease Term, Discount Rate and Cash Flow     HTML     45K 
                Information ) (Details)                                          
100: R82         Leases (Future Minimum Rental Commitments for       HTML     46K  
                Noncancelable Operating Leases ) (Details)                       
101: R83         Leases (Additional Information) (Details)           HTML     66K  
102: R84         Goodwill and Intangible Assets (Summary of          HTML     47K  
                Goodwill Balances by Reporting Unit) (Details)                   
103: R85         Goodwill and Intangible Assets (Summary of          HTML     45K  
                Goodwill Balances by Reporting Segment) (Details)                
104: R86         Goodwill and Intangible Assets (Changes in          HTML     49K  
                Carrying Amount of Goodwill, by Segment) (Details)               
105: R87         Goodwill and Intangible Assets (Schedule of         HTML     66K  
                Intangible Assets) (Details)                                     
106: R88         Goodwill and Intangible Assets (Summary of          HTML     44K  
                Indefinite-Lived Intangible Assets Balances by                   
                Reporting Segment) (Details)                                     
107: R89         Goodwill and Intangible Assets (Estimated           HTML     50K  
                Amortization Expense for Amortized Intangible                    
                Assets) (Details)                                                
108: R90         Goodwill and Intangible Assets (Additional          HTML     42K  
                Information) (Details)                                           
109: R91         Debt (Long-term debt) (Details)                     HTML     58K  
110: R92         Debt (Scheduled maturities of long-term debt)       HTML     56K  
                (Details)                                                        
111: R93         Debt (Debt Issuance Costs) (Details)                HTML     63K  
112: R94         Debt (Interest Expense) (Details)                   HTML     77K  
113: R95         Debt (Additional Information) (Details)             HTML    330K  
114: R96         Redeemable Noncontrolling Interest (Reconciliation  HTML     51K  
                of Non-Controlling Interest Balance) (Details)                   
115: R97         Redeemable Noncontrolling Interest (Additional      HTML     55K  
                Information) (Details)                                           
116: R98         Share Repurchases (Shares Repurchased Under         HTML     47K  
                Programs) (Details)                                              
117: R99         Share Repurchases (Open Market Share Repurchase     HTML     55K  
                Programs) (Details)                                              
118: R100        Share Repurchases (ASR Agreement) (Details)         HTML     49K  
119: R101        Accumulated Other Comprehensive Loss (Details)      HTML     79K  
120: R102        Stock-Based Compensation (Summary of Options        HTML     77K  
                Activity) (Details)                                              
121: R103        Stock-Based Compensation (Fair Values of Stock      HTML     45K  
                Option Awards Weighted Average Assumptions)                      
                (Details)                                                        
122: R104        Stock-Based Compensation (Summary of Restricted     HTML     59K  
                Stock Units Activity) (Details)                                  
123: R105        Stock-Based Compensation (Total Stock-Based         HTML     42K  
                Compensation Expense Included in Consolidated                    
                Statement of Income) (Details)                                   
124: R106        Stock-Based Compensation (Additional Information)   HTML     79K  
                (Details)                                                        
125: R107        Employee Benefit Plans - Additional Information     HTML     68K  
                (Details)                                                        
126: R108        Fair Value Measurements (Details)                   HTML    133K  
127: R109        Commitments and Contingencies (Details)             HTML     90K  
128: R110        Segment Information (Tabulation of Business         HTML    130K  
                Segment Information Based on Current Segmentation)               
                (Details)                                                        
129: R111        Segment Information (Revenues and Long-Lived        HTML     55K  
                Assets by Geographic Area) (Details)                             
130: R112        Segment Information (Additional Information)        HTML     41K  
                (Details)                                                        
131: R113        Quarterly Financial Data (Unaudited) (Summary of    HTML    112K  
                Quarterly Data) (Details)                                        
132: R114        Schedule II (Valuation and Qualifying Accounts)     HTML     50K  
                (Details)                                                        
135: XML         IDEA XML File -- Filing Summary                      XML    260K  
133: XML         XBRL Instance -- atge-20220630x10k_htm               XML   5.45M  
134: EXCEL       IDEA Workbook of Financial Reports                  XLSX    300K  
15: EX-101.CAL  XBRL Calculations -- atge-20220630_cal               XML    410K 
16: EX-101.DEF  XBRL Definitions -- atge-20220630_def                XML   1.14M 
17: EX-101.LAB  XBRL Labels -- atge-20220630_lab                     XML   2.45M 
18: EX-101.PRE  XBRL Presentations -- atge-20220630_pre              XML   1.88M 
14: EX-101.SCH  XBRL Schema -- atge-20220630                         XSD    312K 
136: JSON        XBRL Instance as JSON Data -- MetaLinks              698±  1.11M  
137: ZIP         XBRL Zipped Folder -- 0001558370-22-013289-xbrl      Zip   1.04M  


‘EX-10.E’   —   Material Contract


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



 C:  C:  <!  <> 

Exhibit 10(e)

AMENDMENT ONE

To the

ADTALEM GLOBAL EDUCATION RETIREMENT PLAN

(as amended and restated effective January 1, 2020)

WHEREAS, Adtalem Global Education Inc. (the “Company”) maintains the Adtalem Global Education Retirement Plan (the “Plan”), most recently restated as of January 1, 2020;

WHEREAS, Section 13.01 of the Plan provides that the any officer of the Company is authorized to amend the Plan on behalf of the Company with respect to any amendment that does not materially increase or decrease the cost to the employers of providing benefits under the Plan;

WHEREAS, the Company is acquiring all of the issued and outstanding limited liability company interests of Walden e-Learning, LLC (“Walden”), pursuant to a Membership Interest Purchase

Agreement (as amended from time to time, the “Purchase Agreement”) by and between the Company and Laureate Education, Inc., dated as of September 11, 2020, and, upon the consummation of such purchase, the business of Walden shall be an “Acquired Business” under section 6.04 of the Plan;

WHEREAS, the Company wishes to amend the Plan to provide for automatic enrollment for certain employees of Walden’s business and to permit rollover contributions to the Plan from the Laureate Education, Inc. 401(k) Retirement Savings Plan to include promissory notes, which amendments will not materially increase or decrease the cost to the employers of providing benefits under the Plan;

NOW, THEREFORE, BE IT RESOLVED, that Section 6.04 of the Plan is amended, effective as of August 11, 2021, to add a new subsection (e) at the end thereof to read in its entirety as follows, as follows:

(e)Walden e-Learning, LLC.

(i)Automatic Enrollment. If an Acquired Business Employee becomes an Eligible Employee on account of Company’s acquisition of all of the issued and outstanding limited liability company interests of Walden e-Learning, LLC (“Walden”), pursuant to a Membership Interest Purchase Agreement (as amended from time to time, the “Purchase Agreement”) by and between the Company and Laureate Education, Inc., dated as of September 11, 2020, the Acquired Business Employee shall be deemed to be hired on the date of the consummation of such purchase for purposes of Section 3.01(a)(ii), except that Section 3.01(a)(ii) shall not apply to such Acquired Business Employee if the Acquired Business Employee was most recently hired or rehired by Walden or an affiliate of Walden before January 1, 2012, as reflected in the applicable Employer’s records.


(ii)Rollover Contributions. If an Eligible Employee makes a rollover contribution to the Plan from the Laureate Education, Inc. 401(k) Retirement Savings Plan (the “Laureate Plan”), such rollover contribution may include a promissory note evidencing a loan from the Laureate Plan to the Eligible Employee. Any such loan shall be treated as a loan by the Plan after the date on which the rollover contribution is made but shall be subject to all terms and conditions of the Eligible Employee’s promissory note under the Laureate Plan (subject to minor adjustments in repayment amounts and dates, if any, resulting from changes in payroll frequency). Any such loan shall be subject to such rules and procedures as the Plan Administrator may establish.

IN WITNESS WHEREOF, the undersigned officer of the Company hereby executes this amendment on behalf of the Company on this 21st day of August, 2021.

Graphic

​ ​_

Print Name: Donna Jennings​ ​

Print Title:​ ​Chief Human Resources Officer​ ​



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:8/11/228-K
For Period end:6/30/22
8/11/21
9/11/208-K
1/1/20
1/1/12
 List all Filings 


3 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
 5/15/23  SEC                               UPLOAD6/13/23    2:39K  Adtalem Global Education Inc.
 4/21/23  SEC                               UPLOAD6/13/23    2:43K  Adtalem Global Education Inc.


32 Previous Filings that this Filing References

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

 5/05/22  Adtalem Global Education Inc.     10-Q        3/31/22  112:18M                                    Toppan Merrill Bridge/FA
 3/15/22  Adtalem Global Education Inc.     8-K:1,2,7,9 3/14/22   14:438K                                   Business Wire/FA
 1/25/22  Adtalem Global Education Inc.     8-K/A:1,7,9 1/24/22   14:2.3M                                   Toppan Merrill/FA
11/15/21  Adtalem Global Education Inc.     8-K/A:5,9  10/18/21   14:712K                                   Business Wire/FA
11/03/21  Adtalem Global Education Inc.     10-Q        9/30/21  116:15M                                    Toppan Merrill Bridge/FA
 9/14/21  Adtalem Global Education Inc.     8-K/A:5,9   9/13/21   12:386K                                   Business Wire/FA
 9/13/21  Adtalem Global Education Inc.     8-K/A:5,9   8/06/21   12:363K                                   Business Wire/FA
 8/19/21  Adtalem Global Education Inc.     10-K        6/30/21  126:18M                                    Toppan Merrill Bridge/FA
 8/12/21  Adtalem Global Education Inc.     8-K:1,2,8,9 8/12/21   14:2M                                     Business Wire/FA
 8/06/21  Adtalem Global Education Inc.     8-K:5,8,9   8/04/21   14:391K                                   Business Wire/FA
 7/27/21  Adtalem Global Education Inc.     8-K:1,9     7/21/21   12:219K                                   Business Wire/FA
 3/01/21  Adtalem Global Education Inc.     8-K:1,2,9   3/01/21   12:2.2M                                   Toppan Merrill/FA
 9/16/20  Adtalem Global Education Inc.     8-K:1,7,9   9/11/20   13:1.8M                                   Business Wire/FA
 8/18/20  Adtalem Global Education Inc.     10-K        6/30/20  131:20M                                    Toppan Merrill Bridge/FA
 4/27/20  Adtalem Global Education Inc.     8-K:2,7,9   4/24/20   13:828K                                   Business Wire/FA
10/23/19  Adtalem Global Education Inc.     8-K:1,7,9  10/18/19   12:1M                                     Business Wire/FA
 8/27/19  Adtalem Global Education Inc.     8-K:5,9     8/26/19   12:422K                                   Business Wire/FA
12/12/18  Adtalem Global Education Inc.     8-K:1,2,8,912/11/18    5:138K                                   Business Wire/FA
 8/24/18  Adtalem Global Education Inc.     10-K        6/30/18  117:25M                                    Toppan Merrill/FA
 8/03/18  Adtalem Global Education Inc.     8-K:1,8,9   8/02/18    3:38K                                    Business Wire/FA
 6/29/18  Adtalem Global Education Inc.     8-K:1,7,9   6/28/18    3:853K                                   Business Wire/FA
12/04/17  Adtalem Global Education Inc.     8-K:1,7,9  12/04/17    3:921K                                   Business Wire/FA
10/11/17  Adtalem Global Education Inc.     DEFA14A    10/11/17    1:93K                                    Business Wire/FA
 5/24/17  Adtalem Global Education Inc.     8-K:5,7,9   5/22/17    6:18M                                    Business Wire/FA
 1/24/17  Adtalem Global Education Inc.     8-K:5,9     1/24/17    2:140K                                   Business Wire/FA
 8/27/14  Adtalem Global Education Inc.     S-8         8/27/14    4:291K                                   Business Wire/FA
 8/27/14  Adtalem Global Education Inc.     10-K        6/30/14  118:17M                                    Toppan Merrill/FA
 5/14/14  Adtalem Global Education Inc.     8-K:5,9     5/08/14    2:74K                                    Business Wire/FA
 8/29/13  Adtalem Global Education Inc.     10-K        6/30/13  214:24M                                    Toppan Merrill/FA
 5/22/13  Adtalem Global Education Inc.     8-K:1,5,9   5/17/13    2:173K                                   Business Wire/FA
11/16/10  Adtalem Global Education Inc.     8-K:5,9    11/10/10    2:125K                                   Business Wire/FA
 8/25/10  Adtalem Global Education Inc.     10-K        6/30/10    6:1.2M                                   Donnelley … Solutions/FA
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