Document:

Form of Stock Option Award Agreement issued to Exec Officers of Co.

  
 Exhibit 10.2

  
 CORINTHIAN COLLEGES, INC. 
 2003 PERFORMANCE AWARD PLAN 
 INCENTIVE STOCK OPTION AGREEMENT 
  
 THIS
INCENTIVE STOCK OPTION AGREEMENT (this “Option Agreement”) by and between CORINTHIAN COLLEGES, INC., a Delaware corporation (the “Corporation”), and
                                        
                             (the “Participant”) evidences the stock option (the
“Option”) granted by the Corporation to the Participant as to the number of shares of the Corporation’s Common Stock first set forth below. 
  

					
	Number of Shares of Common Stock:1	 	___________	  	Award Date: ________________
			
	Exercise Price per Share:1	 	$__________	  	Expiration Date:1,2 ____________

  
 Vesting1,2 The Option shall become vested as to 25% of the total number of shares of Common Stock subject to the Option on the first
anniversary of the Award Date. The remaining 75% of the total number of shares of Common Stock subject to the Option shall vest in three substantially equal installments on each of second, third and fourth anniversaries of the Award Date.

  
 The Option is granted under the Corinthian Colleges, Inc. 2003
Performance Award Plan (the “Plan”) and subject to the Terms and Conditions of Management Incentive Stock Option (the “Terms”) attached to this Option Agreement (incorporated herein by this reference) and to the
Plan. The Option has been granted to the Participant in addition to, and not in lieu of, any other form of compensation otherwise payable or to be paid to the Participant. Capitalized terms are defined in the Plan if not defined herein. The parties
agree to the terms of the Option set forth herein. The Participant acknowledges receipt of a copy of the Terms and the Plan. 
  

									
	“PARTICIPANT”	 	 	 	CORINTHIAN COLLEGES, INC.,
	 	 	 	 	 a Delaware corporation

			
	 	 	 	 	 
	Signature	 	 	 	 
				
	 	 	 	 	By:	 	 
	Print Name	 	 	 	 	 	 
					
	 	 	 	 	 	 	Its:	 	 

  
 ate 
  

	1	Subject to adjustment under Section 6.3 of the Plan. 

  

	2	Subject to earlier termination as provided in Section 4 of the Terms.

  

  
 TERMS AND CONDITIONS OF
MANAGEMENT INCENTIVE STOCK OPTION 
  

	1.	Vesting; Limits on Exercise. 

  
 As set forth on the cover page of this Option Agreement, the Option shall vest and become exercisable in percentage installments of the aggregate number
of shares of Common Stock subject to the Option. The Option may be exercised only to the extent the Option is vested and exercisable. 
  

	 	•	Cumulative Exercisability. To the extent that the Option is vested and exercisable, the Participant has the right to exercise the Option (to the extent not previously
exercised), and such right shall continue until the expiration or earlier termination of the Option. 

  

	 	•	No Fractional Shares. Fractional share interests shall be disregarded, but may be cumulated. 

  

	 	•	Minimum Exercise. No fewer than 1001
shares of Common Stock may be purchased at any one time, unless the number purchased is the total number at the time exercisable under the Option. 

  

	 	•	Incentive Stock Option Status. The Option is intended as an “incentive stock option” (“ISO”) within the meaning of, and to the maximum extent permitted
within the limits of, Section 422 of the Code. The Plan and Section 422 of the Code limit the number of shares of Common Stock of the Corporation which may be treated as acquired pursuant to an ISO so that the aggregate fair market value of shares
with respect to which ISOs become exercisable during any calendar year under the Plan or any other plan of the Corporation is limited to $100,000. To qualify the Option as an ISO, any other applicable provisions of Section 422 of the Code must also
be satisfied. Any shares of Common Stock acquired pursuant to the Option in excess of the $100,000 limitation provided under the Code shall be treated as acquired pursuant to a nonqualified stock option. The Participant acknowledges that the number
of shares which may be treated as acquired pursuant to an ISO may be reduced in the event the Participant has been or is granted other incentive stock options to acquire Common Stock or in the event the vesting of the Option is accelerated. The
Corporation may, in the manner and to the extent permitted by law, designate which shares are to be treated as stock acquired pursuant to the exercise of an ISO. 

  

	2.	Continuance of Employment/Service Required; No Employment/Service Commitment. 

  
 Except as expressly provided in Section 4 below, the vesting schedule requires continued employment or service through each
applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion,
will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights 

  

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and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. 
  
 Nothing contained in this Option Agreement or the Plan constitutes an
employment or service commitment by the Corporation or any of its Subsidiaries, affects the Participant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Participant any
right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or
any Subsidiary to increase or decrease the Participant’s other compensation. 
  

	3.	Method of Exercise of Option. 

  
 The Option shall be exercisable by the delivery to the Secretary of the Corporation (or such other person as the Committee may require pursuant to such
administrative exercise procedures as the Committee may implement from time to time) of: 
  

	 	•	a written notice stating the number of shares of Common Stock to be purchased pursuant to the Option or by the completion of such other administrative exercise procedures as the
Committee may require from time to time, 

  

	 	•	payment in full for the Exercise Price of the shares to be purchased in cash, check or by electronic funds transfer to the Corporation, or (subject to compliance with all applicable
laws, rules, regulations and listing requirements) in shares of Common Stock already owned by the Participant, valued at their Fair Market Value on the exercise date, provided, however, that any shares initially acquired upon exercise
of a stock option or otherwise from the Corporation must have been owned by the Participant for at least six (6) months before the date of such exercise; 

  

	 	•	any written statements or agreements required pursuant to Section 6.4 of the Plan; and 

  

	 	•	satisfaction of the tax withholding provisions of Section 6.5 of the Plan. 

  
 The Committee also may, but is not required to, authorize a non-cash payment alternative by notice and third party payment in such manner as may be authorized by the
Committee. 
  

	4.	Early Termination of Option; Change in Control Event. 

  
 4.1 General. The Option, to the extent not previously exercised, and all other rights hereunder, whether vested and exercisable or not, shall
terminate and become null and void prior to the Expiration Date in the event of: 
  

	 	•	the termination of the Participant’s employment or services as provided in Section 6.2 of the Plan, or 

  

	 	•	the termination of the Option pursuant to Section 6.3 of the Plan. 

  
 The Participant acknowledges that the ISO post-termination exercise provisions of Section 422 of the Code are more restrictive than those set forth in
Section 6.2 of the Plan and 

  

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that, to the extent the Code is more restrictive, the Participant must satisfy the Code’s provisions in order to preserve the qualified status of the
Option (or portion thereof) as an ISO. 
  
 4.2 Possible
Acceleration upon Certain Terminations. Notwithstanding any other provision of this Option Agreement or of the Plan, if a Change in Control Event (as defined in the Plan) occurs and the Option does not accelerate and become fully vested in
connection with such event as contemplated by Section 6.3.2 of the Plan, the Option shall automatically accelerate and become fully vested upon a termination of the Participant’s employment or services with the Corporation and its Subsidiaries
if such termination of employment or services (a) is by the Corporation or a Subsidiary for any reason other than for Cause (as defined below) or by the Participant for Good Reason (as defined below), and (b) occurs in anticipation of (but in no
event more than three months prior to) the date of the Change in Control Event or within two years following the date of the Change in Control Event. (In the event that the Participant’s employment occurs prior to the date of the Change in
Control Event and it is subsequently determined that a Change in Control Event requires an acceleration of vesting pursuant to the preceding sentence, the Option shall be deemed to have been fully vested on the date that the Participant’s
employment terminated.) The following definitions shall apply solely for purposes of this Section 4.2: 
  

	 	•	Cause. “Cause” means that the Participant has been convicted of a felony (other than drunk driving), or has engaged in gross misconduct materially and demonstrably
injurious to the Corporation or a Subsidiary. However, no act or failure to act, on the Participant’s part shall be considered “willful” unless done, or omitted to be done, by the Participant not in good faith and without reasonable
belief that his action or omission was in the best interest of the Corporation and its Subsidiaries. 

  

	 	•	Good Reason. “Good Reason” means that, without the Participant’s express written consent, the occurrence of any one or more of the following: (a) the
assignment of the Participant to duties materially inconsistent with the Participant’s authorities, duties, responsibilities, and status (including titles and reporting requirements) as an employee of the Corporation or one of its Subsidiaries,
or a material reduction or alteration in the nature or status of the Participant’s authorities, duties, or responsibilities, other than an insubstantial and inadvertent act that is remedied by the Company promptly after receipt of notice
thereof given by the Participant; (b) a reduction by the Corporation or a Subsidiary in the Participant’s base salary; (c) a material reduction in the Participant’s level of participation in any of the Company’s short and/or long-term
incentive compensation plans, employee benefit or retirement plans, or policies, practices, or arrangements in which the Participant participates (provided, however, that reductions in the levels of participation in any such plan, policy, practice
or arrangement shall not be deemed to be “Good Reason” if the Participant’s reduced level of participation in each such plan, policy, practice or arrangement remains substantially consistent with the average level of participation of
other employees who have positions commensurate with the Participant’s position); or (d) the relocation of the Participant’s offices, as assigned to him by the Company, by more than fifty (50) miles. 

  

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	5.	Non-Transferability. 

  
 The Option and any other rights of the Participant under this Option Agreement or the Plan are nontransferable and exercisable only by the Participant,
except as set forth in Section 1.8 of the Plan. 
  

	6.	Notices. 

  
 Any notice to be given under the terms of this Option Agreement shall be in writing and addressed to the Corporation at its principal office to the
attention of the Secretary, and to the Participant at the address given beneath the Participant’s signature hereto, or at such other address as either party may hereafter designate in writing to the other. Any such notice shall be delivered in
person or shall be enclosed in a properly sealed envelope, addressed as aforesaid, registered or certified, and deposited (postage and registry or certification fee prepaid) in a post office or branch post office regularly maintained by the United
States Government. Any such notice shall be given only when received, but if the Participant is no longer an Eligible Person, shall be deemed to have been duly given as of the date mailed in accordance with the foregoing provisions of this Section
6. 
  

	7.	Plan. 

  
 The Option and all rights of the Participant under this Option Agreement are subject to, and the Participant agrees to be bound by, all of the terms and
conditions of the Plan, incorporated herein by this reference. In the event of a conflict or inconsistency between the terms and conditions of this Option Agreement and of the Plan, the terms and conditions of the Plan shall govern. The Participant
acknowledges receipt of a copy of the Plan and agrees to be bound by the terms thereof and of this Option Agreement. The Participant acknowledges reading and understanding the Plan and this Option Agreement. Unless otherwise expressly provided in
other sections of this Option Agreement, provisions of the Plan that confer discretionary authority on the Board or the Committee do not and shall not be deemed to create any rights in the Participant unless such rights are expressly set forth
herein or are otherwise in the sole discretion of the Board or the Committee so conferred by appropriate action of the Board or the Committee under the Plan after the date hereof. 
  

	8.	Entire Agreement. 

  
 This Option Agreement (including these Terms) and the Plan together constitute the entire agreement and supersede all prior understandings and agreements,
written or oral, of the parties hereto with respect to the subject matter hereof. The Plan and this Option Agreement may be amended pursuant to Section 6.6 of the Plan. Such amendment must be in writing and signed by the Corporation. The Corporation
may, however, unilaterally waive any provision hereof in writing to the extent such waiver does not adversely affect the interests of the Participant hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the
same provision or a waiver of any other provision hereof. 
  

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	9.	Governing Law; Limited Rights. 

  
 9.1. Delaware Law. This Option Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Delaware without regard to conflict of law principles thereunder. 
  
 9.2. Limited Rights. The Participant has no rights as a stockholder of the Corporation with respect to the Option as set forth in Section 6.7 of the Plan. 
  

	10.	Effect of this Agreement. 

  
 Subject to the Corporation’s right to terminate the Option pursuant to Section 6.3 of the Plan, this Option Agreement shall be assumed by, be binding
upon and inure to the benefit of any successor or successors to the Corporation. 
  

	11.	Counterparts. 

  
 This Option Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. 
  

	12.	Section Headings. 

  
 The section headings of this Option Agreement are for convenience of reference only and shall not be deemed to alter or affect any provision hereof.

  
 (Remainder of Page Intentionally Left Blank) 
  

 5Form of Restricted Stock Unit Award Agreement issued to Exec Officers

  
 Exhibit 10.3

  
 CORINTHIAN COLLEGES, INC. 
 2003 PERFORMANCE AWARD PLAN 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 
  

			
		
	 Employee Name:
	  	 «Employee»

		
	 Number of Stock Units:
	  	 «Number_of_Stock_Units»1

		
	 Vesting Schedule:
	  	One-fourth of the Stock Units subject to the Award will vest on each of the first four anniversary dates of Award Date1
		
	 Award Date:
	  	 [                                    ],
2004

	1	All share and unit numbers are subject to adjustment, and the Stock Units are subject to acceleration and termination prior to vesting, as provided herein.

  
 THIS RESTRICTED STOCK UNIT AWARD
AGREEMENT (this “Agreement”) is by and between CORINTHIAN COLLEGES, INC., a Delaware corporation (the “Corporation”), and the employee named above (the “Participant”), an employee of the Corporation or one of
its subsidiaries, and is delivered under the Corinthian Colleges, Inc. 2003 Performance Award Plan (the “2003 Plan”). 
  
 W I T N E S S E T H 
  
 WHEREAS, the Compensation Committee of the Board of Directors has
approved, and the Corporation has granted, effective as of the Award Date, to the Participant with reference to services rendered to the Company, a restricted stock unit award under the 2003 Plan (the “Stock Unit Award” or
“Award”), upon the terms and conditions set forth herein and in the 2003 Plan. 
  
 NOW THEREFORE, in consideration of services rendered by the Participant and the mutual promises made herein and the mutual benefits to be derived therefrom, the parties agree as follows: 
  
 1. Defined Terms. Capitalized terms used herein
and not otherwise defined herein shall have the meaning assigned to such terms in the 2003 Plan. For purposes of this Agreement, a “Stock Unit” means a non-voting unit of measurement which is deemed for bookkeeping purposes to be
equivalent to one outstanding share of Common Stock of the Corporation (subject to adjustment as provided in Section 8 hereof). 
  
 2. Grant. The Stock Units subject to the Award will be credited, as of the Award Date set forth above, to a “Company
Contribution Account” maintained in the name of the Participant under the Corinthian Colleges, Inc. Executive Deferral Plan (the “Deferral Plan”). The Stock Units will be paid (to the extent vested) in accordance with the payment
provisions of the Deferral Plan (and any applicable deferral election made by the Participant under and in accordance with the rules of the Deferral Plan). Any shares of Common Stock issued or delivered with respect to the Stock Units shall be
charged against the applicable share limits of the 2003 Plan. The Award and all rights of the Participant hereunder are subject to, and the Participant agrees to be bound by, all of the terms and conditions of the provisions of the 2003 Plan and the
Deferral Plan, which are incorporated herein by this reference. In the event of a 

  

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conflict or inconsistency between this Agreement and either the 2003 Plan or the Deferral Plan, the terms and conditions of the applicable plan shall
govern. 
  
 3. Vesting. The
Stock Units subject to the Award shall vest in installments as set forth in the “Vesting Schedule” set forth above, subject to earlier termination or acceleration and subject to adjustment as provided herein. 
  
 4. Continuance of Employment Required. Except as
otherwise expressly provided in Section 7 below, the vesting schedule applicable to the Stock Units requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the
award and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination
of rights and benefits upon or following a termination of employment or service. 
  
 5. Dividend and Voting Rights. The Stock Units are bookkeeping entries only. The Participant shall have no rights as a stockholder of the Corporation, no dividend rights (except as
expressly provided in the Deferral Plan with respect to Dividend Equivalents) and no voting rights with respect to the Stock Units or any shares of Common Stock issuable in respect of such Stock Units, until shares of Common Stock are actually
delivered to and held of record by the Participant. No adjustments will be made for dividends or other rights of a holder for which the record date is prior to the date of delivery of the shares. 
  
 6. Restrictions on Transfer. Prior to the time the Stock Units
are vested and paid, neither the Stock Units comprising the Award nor any other rights of the Participant under this Agreement or the Plan may be transferred, except as expressly provided in Section 1.8 of the 2003 Plan. No specific exception to the
general transfer prohibitions set forth in Section 1.8 of the 2003 Plan has been authorized by the Administrator. 
  
 7. Effect of Termination of Employment or Change in Control. 
  
 (a) Termination of Employment Generally. Except as provided in Section 7(d), the
Participant’s Stock Units shall be extinguished to the extent such Stock Units have not become vested upon the date the Participant is no longer employed by the Corporation or one of its Subsidiaries and is not a member of the Board, regardless
of the reason for such termination of employment or service, whether with or without cause, voluntarily or involuntarily; provided, however, that if the Participant incurs a Total Disability or dies while employed by the Corporation or a Subsidiary
or in service as a director of the Corporation, or Retires with the consent of the Corporation or a Subsidiary from employment by the Corporation or a Subsidiary, then if the Stock Units subject to the Award are not then otherwise fully vested, they
shall become vested upon such termination of employment. The termination of service rules of Sections 6.2.7 and 6.2.8 of the 2003 Plan shall apply with respect to the Stock Units. 
  
 (b) Termination of Stock Units. If any Stock Units are extinguished hereunder, such unvested,
extinguished Stock Units shall, without payment of any consideration by the Corporation or any Subsidiary, automatically terminate and be cancelled without any other action by the Participant, or the Participant’s beneficiary, as the case may
be. 
  
 (c) Automatic Acceleration of Stock
Units. Upon a dissolution of the Corporation or other event described in Section 6.3.1 of the 2003 Plan (which generally covers certain mergers or similar reorganizations) that the Corporation does not survive (or does not survive as

  

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a public company in respect of its Common Stock), then if the Stock Units subject to the Award are not then otherwise fully vested, they shall automatically
become vested upon the occurrence of such event; provided that such acceleration provision shall not apply, unless otherwise expressly provided by the Administrator, to the extent that the Administrator has made a provision for the substitution,
assumption, exchange or other continuation or settlement of the Award, or the Award would otherwise continue in accordance with the terms of this Agreement, in the circumstances. 
  
 (d) Possible Acceleration upon Certain Terminations. Notwithstanding any other provision of this
Agreement, the 2003 Plan or the Deferral Plan, if a Change in Control Event (as defined in the 2003 Plan) occurs and the Stock Units do not accelerate and become fully vested upon such event as contemplated by Section 7(c) above, the following
provisions shall apply: 
  

	 	•	If the Participant’s employment is terminated by the Corporation or a Subsidiary for any reason other than for Cause (as defined herein) or terminated by the Participant for
Good Reason (as defined herein) and the date of such termination (the “Severance Date”) is upon or within two years following the date of the Change in Control Event, the Stock Units subject to the Award shall automatically become
fully vested as of the Participant’s Severance Date. 

  

	 	•	If the Participant’s employment is terminated by the Corporation or a Subsidiary for any reason other than for Cause (as defined herein) or terminated by the Participant for
Good Reason (as defined herein) and the Severance Date is within six months prior to the date of the Change in Control Event, any Stock Units subject to the Award that were unvested and had been previously extinguished in connection with the
termination of the Participant’s employment pursuant to Section 7(a) above shall be reinstated, and such unvested Stock Units shall automatically become fully vested as of the date of the Change in Control Event. 

  
 The following definitions shall apply solely for purposes of this Section
7(d): 
  

	 	•	Cause. “Cause” means that the Participant has been convicted of a felony (other than drunk driving), or has engaged in gross misconduct materially and demonstrably
injurious to the Corporation or a Subsidiary. However, no act or failure to act, on the Participant’s part shall be considered “willful” unless done, or omitted to be done, by the Participant not in good faith and without reasonable
belief that his action or omission was in the best interest of the Corporation and its Subsidiaries. 

  

	 	•	 Good Reason. “Good Reason” means that, without the Participant’s express written consent, the occurrence of any one or more of the following:
(a) the assignment of the Participant to duties materially inconsistent with the Participant’s authorities, duties, responsibilities, and status (including titles and reporting requirements) as an employee of the Corporation or one of its
Subsidiaries, or a material reduction or alteration in the nature or status of the Participant’s authorities, duties, or responsibilities, other than an insubstantial and inadvertent act that is remedied by the Company promptly after receipt of
notice thereof given by the Participant; (b) a reduction by the Corporation or a Subsidiary in the Participant’s base salary; (c) a material reduction in the Participant’s level of participation in any of the Company’s short and/or
long-term incentive compensation plans, employee benefit or retirement plans, or policies, practices, or arrangements in which the Participant participates 

  

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(provided, however, that reductions in the levels of participation in any such plan, policy, practice or arrangement shall not be deemed to be “Good
Reason” if the Participant’s reduced level of participation in each such plan, policy, practice or arrangement remains substantially consistent with the average level of participation of other employees who have positions commensurate with
the Participant’s position); or (d) the relocation of the Participant’s offices, as assigned to him by the Company, by more than fifty (50) miles. 

  
 8. Adjustments in Case of Changes in Common Stock. Upon the occurrence of an Event (as defined
in Section 6 of the Deferral Plan), the Administrator shall make adjustments as it deems appropriate in the number and kind of securities or other consideration that may become payable with respect to the Award as provided under Section 6 of the
Deferral Plan. 
  
 9. Possible Early Settlement of
Award. The Administrator retains the right to accelerate the vesting and payment date of the outstanding and previously unvested Stock Units subject to the Award in connection with an Event, a Change in Control Event, or the
termination of the Participant’s employment with the Corporation or one of its Subsidiaries. This Section 9 is not intended to prevent vesting of the Award pursuant to Section 7 above or an adjustment to the Award as provided in Section 8
above. 
  
 10. Tax Withholding. Upon
or in connection with the vesting of the Stock Units, the payment of Dividend Equivalents, and/or the distribution of shares of Common Stock in respect of the Stock Units, the Corporation and each of its Subsidiaries shall have the right at its or
their option to (a) require the Participant (or the Participant’s beneficiary, as the case may be) to pay or provide for payment in cash of the amount of any taxes which such entity (or entities) may be required to withhold with respect to such
vesting, payment or distribution or (b) deduct from any amount otherwise payable to the Participant (with respect to the Stock Units or otherwise) the amount of any taxes which such entity (or entities) may be required to withhold with respect to
such vesting, payment or distribution. In any case where a tax is required to be withheld in connection with the delivery of shares of Common Stock under this Agreement, the Administrator may, but is not required to, reduce the number of shares to
be delivered by (or otherwise reacquire) the appropriate number of shares valued at their then Fair Market Value, to satisfy such withholding obligation. 
  
 11. Notices. Any notice to be given under the terms of this Agreement shall be in writing and addressed to the Corporation at
its principal office to the attention of the Secretary, and to the Participant at the address reflected or last reflected on the Corporation’s payroll records. Any notice shall be delivered in person or shall be enclosed in a properly sealed
envelope, addressed as aforesaid, registered or certified, and deposited (postage and registry or certification fee prepaid) in a post office or branch post office regularly maintained by the United States Government. Any such notice shall be deemed
to be “given” only when actually received, but if the Participant is no longer an Eligible Person, shall be deemed to have been duly “given” as of the date mailed in accordance with the foregoing provisions of this Section 11.

  
 12. Plan. The Award and all rights
of the Participant with respect thereto are subject to, and the Participant agrees to be bound by, all of the terms and conditions of the provisions of the 2003 Plan (and, where applicable, the Deferral Plan), incorporated herein by reference. The
Participant acknowledges receipt of a copy of the 2003 Plan and of the Deferral Plan and agrees to be bound by the terms thereof. Unless otherwise expressly provided in other Sections of this 

  

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Agreement, provisions of the 2003 Plan that confer discretionary authority on the Administrator do not (and shall not be deemed to) create any rights in the
Participant unless such rights are expressly set forth herein or are otherwise in the sole discretion of the Administrator so conferred by appropriate action of the Administrator under the 2003 Plan after the date hereof. 
  
 13. No Service Commitment by Company. Nothing
contained in this Agreement, the 2003 Plan or the Deferral Plan constitutes an employment or service commitment by the Corporation or any of its Subsidiaries, affects the Participant’s status as an employee at-will who is subject to termination
without cause, confers upon the Participant any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or
service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Participant’s other compensation. 
  
 14. Limitation on Participant’s Rights. Participation in the 2003 Plan confers no rights or interests other than as herein
provided. This Agreement creates only a contractual obligation on the part of the Corporation as to amounts payable and shall not be construed as creating a trust. Each of the 2003 Plan and the Deferral Plan, in and of itself, has no assets. The
Participant shall have only the rights of a general unsecured creditor of the Corporation with respect to amounts credited and benefits payable, if any, with respect to the Stock Units, and rights no greater than the right to receive the Common
Stock (subject to adjustments) as a general unsecured creditor with respect to Stock Units, as and when payable in accordance with the provisions of the Deferral Plan and any applicable deferral election made by the Participant. 
  
 15. Entire Agreement. This Agreement and the 2003 Plan
(and, where applicable, the Deferral Plan) together constitute the entire agreement and supersede all prior understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. The 2003 Plan and this
Agreement may be amended pursuant to Section 6.6 of the 2003 Plan. The Deferral Plan may be amended pursuant to Section 9.5 thereof. Any such amendment must be in writing and signed by the Corporation. The Corporation may, however, unilaterally
waive any provision hereof in writing to the extent such waiver does not adversely affect the interests of the Participant hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of
any other provision hereof. 
  
 16. Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without regard to conflict of law principles thereunder. 
  
 17. Effect of this Agreement. This Agreement shall be assumed
by, be binding upon and inure to the benefit of any successor or successors to the Corporation. 
  
 18. Counterparts. This Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed an original but
all of which together shall constitute one and the same instrument.  
  
 19. Section Headings. The section headings of this Agreement are for convenience of reference only and shall not be deemed to alter or affect any provision hereof. 
  

 5 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Award Date set forth above.
By the Participant’s execution of this Agreement, the Participant agrees to the terms and conditions hereof, the 2003 Plan and the Deferral Plan. 
  

											
	CORINTHIAN COLLEGES, INC.
a Delaware corporation	 	 	 	PARTICIPANT
				
	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 Signature

				
	 Print Name:
	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Address
				
	 Its:
	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	City, State, Zip Code

  

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