Document:

Exhibit

Exhibit 10.7

AMENDED AND RESTATED 
ACCENTURE PLC
2010 SHARE INCENTIVE PLAN
FORM OF
RESTRICTED SHARE UNIT AGREEMENT

	
		
	Participant:   
	Date of Grant:  

	Number of RSUs:  
	Date of Issuance or Transfer of Shares:

1.    Grant of RSUs.  The Company hereby grants the number of restricted share units (“RSUs”) listed above to the Participant, on the terms and conditions hereinafter set forth.  This grant is made pursuant to the terms of the Amended and Restated Accenture plc 2010 Share Incentive Plan (as amended from time to time, the “Plan”), which Plan is incorporated herein by reference and made a part of this Agreement.  Each RSU represents the unfunded, unsecured right of the Participant to receive a Share on the date(s) specified herein.  Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan.

2.    Form and Timing of Issuance or Transfer.

(a)    The Company shall issue or cause there to be transferred to the Participant, twelve (12) months following the Date of Grant, a number of Shares equal to the aggregate number of RSUs granted to the Participant under this Agreement (as adjusted pursuant to the terms hereof, including Section 12); provided, however, if the Participant’s service with the Company terminates due to the Participant’s death, the Company shall issue or cause to be transferred to the Participant’s estate a number of Shares equal to the aggregate number of RSUs granted to the Participant hereunder (as adjusted pursuant to the terms hereof, including Section 12) as soon as practicable following such termination of service.  

(b)    Upon the issuance or transfer of Shares in accordance with Section 2(a) of this Agreement, the aggregate number of RSUs granted to the Participant under this Agreement shall be extinguished.

3.    Dividends.  If on any date while RSUs are outstanding hereunder the Company shall pay any dividend on the Shares (other than a dividend payable in Shares), the number of RSUs granted to the Participant shall, as of such dividend payment date, be increased by a number of RSUs equal to: (a) the product of (x) the number of RSUs held by the Participant as of the related dividend record date, multiplied by (y) the per Share amount of any cash dividend (or, in the case of any dividend payable in whole or in part other than in cash, the per 

Share value of such dividend, as determined in good faith by the Committee), divided by (b) the Fair Market Value of a Share on the payment date of such dividend.  In the case of any dividend declared on Shares that is payable in the form of Shares, the number of RSUs granted to the Participant shall be increased by a number equal to the product of (a) the aggregate number of RSUs that have been held by the Participant through the related dividend record date, multiplied by (b) the number of Shares (including any fraction thereof) payable as a dividend on a Share.  For the avoidance of doubt, any additional RSUs granted pursuant to this Section 3 shall be subject to the terms and conditions contained in this Agreement.

4.    Adjustments Upon Certain Events.  In the event of any change in the outstanding Shares by reason of any Share dividend or split, reorganization, recapitalization, merger, consolidation, amalgamation, spin-off or combination transaction or exchange of Shares or other similar events (collectively, an “Adjustment Event”), the Committee may, in its sole discretion, adjust any Shares or RSUs subject to this Agreement to reflect such Adjustment Event.

5.    Data Protection.  The Participant consents to the processing (including international transfer) of personal data as set out in Exhibit A for the purposes specified therein.

6.    No Rights of a Shareholder.  The Participant shall not have any rights as a shareholder of the Company until the Shares in question have been registered in the name of the Participant or his or her estate in the Company’s register of shareholders.

7.    Legend on Certificates.  Any Shares issued or transferred to the Participant pursuant to Section 2 of this Agreement shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the U.S. Securities and Exchange Commission, any stock exchange upon which such Shares are listed, and any applicable U.S. Federal or state laws or relevant securities laws of the jurisdiction of the domicile of the Participant or to ensure compliance with any additional transfer restrictions that may be in effect from time to time, and the Committee may cause a legend or legends to be put on any certificates representing such Shares to make appropriate reference to such restrictions.

8.    Transferability.  RSUs may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of descent and distribution, and any purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance not permitted by this Section 8 shall be void and unenforceable against the Company or any Affiliate.  Any Shares issued or transferred to the Participant shall be subject to compliance by the Participant with such policies as the Committee or the Company may deem advisable from time to time, including, without limitation, the policies relating to minimum equity holding requirements.  Such policies shall be binding upon the permitted respective legatees, legal representatives, successors and assigns of the Participant.  

        

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9.    Choice of Law and Dispute Resolution.  

(a)    THE INTERPRETATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.
(b)    Subject to subsections  (c) through (f), any and all disputes which cannot be settled amicably, including any ancillary claims of any party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance and/or termination of this Agreement and any amendment thereto (including without limitation the validity, scope and enforceability of this arbitration provision) (each a “Dispute”) shall be finally settled by arbitration conducted by a single arbitrator in New York, in accordance with the then-existing Rules of Arbitration of the International Chamber of Commerce (“ICC”), except that the parties may select an arbitrator who is a national of the same country as one of the parties.  If the parties to the dispute fail to agree on the selection of an arbitrator within thirty (30) days of the receipt of the request for arbitration, the ICC shall make the appointment.  The arbitrator shall be a lawyer and shall conduct the proceedings in the English language.  In the event of any arbitration between the parties, the Company shall consent to a request by the Participant to hold arbitral proceedings, including any evidentiary hearings, in the country in which the Participant principally conducts his/her business for the convenience of the parties and witnesses, it being understood, however, that the legal situs of the arbitration shall remain in New York.  Each side will bear its own costs and attorneys’ fees.
(c)      Either party may bring an action or proceeding in any court having jurisdiction thereof, for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and/or in support of the arbitration as permitted by any applicable arbitration law and, for the purposes of this subsection (c), each party expressly consents to the application of subsections (e) and (f) to any such suit, action or proceeding.
(d)    Judgment on any award(s) rendered by the tribunal may be entered in any court having jurisdiction thereof.   
(e)    (i)    Each party hereby irrevocably submits to the non-exclusive jurisdiction of the Courts located in New York, United States for the purpose of any suit, action or proceeding brought in accordance with the provisions of subsection (c).  The parties acknowledge that the forum designated by this subsection (e) has a reasonable relation to this Agreement, and to the parties’ relationship with one another.
(ii)    The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to any right to assert personal jurisdiction in any other forum or to the laying of venue of any suit, action or proceeding brought in any court referred to in subsection (e)(i) pursuant to subsection (c) and such parties agree not to plead or claim the same, or to seek anti-suit relief or any other remedy to deny the arbitral jurisdiction referred to in subsection (b).

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(f)    The parties agree that if a suit, action or proceeding is brought under subsection  (c) proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and they irrevocably appoint the General Counsel of the Company, c/o Accenture, 161 N. Clark Street, Chicago, IL 60601 (or, if different, the then-current principal business address of the duly appointed General Counsel of the Company) as such party’s agent for service of process in connection with any such action or proceeding and agree that service of process upon such agent, who shall promptly advise such party of any such service of process, shall be deemed in every respect effective service of process upon the party in any such action or proceeding.
10.      Severability.  This Agreement shall be enforceable to the fullest extent allowed by law.  In the event that a court or appointed arbitrator holds any provision of this Agreement to be invalid or unenforceable, then, if allowed by law, that provision shall be reduced, modified or otherwise conformed to the relevant law, judgment or determination to the degree necessary to render it valid and enforceable without affecting the rest of this Agreement.  Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be deemed severable from the remainder of this Agreement, and the remaining provisions contained in this Agreement shall be construed to preserve to the maximum permissible extent the intent and purposes of this Agreement.  Any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
11.    RSUs Subject to Plan.  By entering into this Agreement, the Participant agrees and acknowledges that the Participant has received and read a copy of the Plan.  All RSUs are subject to the Plan.  In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

12.    Tax Withholding.  The Participant shall, to the extent required by applicable law or regulations, be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall withhold from any issuance or transfer of Shares due in connection with the RSUs under this Agreement or under the Plan, applicable withholding taxes and social insurance contributions required to be withheld with respect to the RSUs, this Agreement or any issuance or transfer under this Agreement or under the Plan.  

13.    Electronic Delivery.  The Company may, in its sole discretion, deliver by electronic means any documents related to the RSUs or the Participant’s future participation in the Plan.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.    

14.    Additional Requirements.  The Company reserves the right to impose other requirements on the RSUs, any Shares acquired pursuant to the RSUs and the Participant’s participation in the Plan to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local laws, rules and/or 

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regulations or to facilitate the operation and administration of the RSUs and the Plan.  Such requirements may include (but are not limited to) requiring the Participant to sign any agreements, undertakings or additional documents that may be necessary to accomplish the foregoing.

15.    Signature in Counterparts.  This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

16.    Entire Agreement.  This Agreement, including the Plan, as provided therein, contains the entire agreement between the parties with respect to the subject matter therein and supersedes all prior oral and written agreements between the parties pertaining to such matters.

17.    Waiver.  No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of like or different nature.

18.    Rule 16b-3.  The grant of the RSUs to the Participant hereunder, including any additional RSUs delivered pursuant to Section 3 hereof, is intended to be exempt from the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended from time to time (the “Exchange Act”) pursuant to Rule 16b-3 promulgated under the Exchange Act, including without limitation, any transaction involving a sale to the Company or any Affiliate where the purpose of such sale is to satisfy tax or similar withholding obligations required upon the delivery of Shares.

19.     Recoupment.  The RSUs granted under this Agreement, and any Shares issued or any payments made in respect thereof, shall be subject to any recoupment policy that the Company may adopt from time to time, to the extent that any such policy is applicable to the Participant.

20.    Amendments.  The rights and obligations under this Agreement and their enforceability are subject to local tax and foreign exchange laws and regulations and, in this sense, the terms and conditions contained herein may be amended at the sole discretion of the Company and/or the Committee in order to comply with any such laws and regulations.

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IN WITNESS WHEREOF, the parties hereto have executed this Restricted Share Unit Agreement.

ACCENTURE PLC
By: 

Chad Jerdee 
General Counsel and Chief Compliance Officer

PARTICIPANT

                        

By:  _________________________
                            
Name:  _______________________

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EXHIBIT A

DATA PROTECTION PROVISION

		
	(a)
	By participating in the Plan or accepting any rights granted under it, the Participant consents to and authorizes the collection, processing and transfer by the Company and its Affiliates of personal data relating to the Participant by the Company and its Affiliates so that they can fulfill their obligations and exercise their rights under the Plan, issue certificates (if any), statements and communications relating to the Plan and generally administer and manage the Plan, including keeping records of, analysis of and reporting on participation levels and other information about the Plan from time to time.  Any such processing shall be in accordance with the purposes and provisions of this data protection provision.

This includes the following data (“Data”):
(i)      Data already held in the Participant's records such as the Participant's name and address, ID number, payroll number, and length of service;
(ii)      Data collected upon the Participant accepting the rights granted under the Plan (if applicable); 
(iii)      Data subsequently collected by the Company or any of its Affiliates in relation to the Participant's continued participation in the Plan, for example, data about Shares offered or received, purchased or sold under the Plan from time to time and other appropriate financial and other data about the Participant and his or her participation in the Plan (e.g., the date on which Shares were granted, termination of service and the reasons of termination of service of the Participant); and
(iv)      Other personal information about the Participant, including, but not limited to, telephone number, date of birth, social insurance number, tax identification number, resident registration number or other identification number, compensation payable, nationality, job title or any other information necessary for implementing, administering, and managing the Plan.
		
	(b)
	This consent is in addition to and does not affect any previous consent provided by the Participant to the Company or its Affiliates.

		
	(c)
	In particular, the Participant expressly consents to the transfer of personal Data about the Participant as described in paragraph (a) above by the Company and its Affiliates.  Data may be transferred not only within the country in which the Participant is based from time to time or within the EU or the European Economic Area, but also worldwide, to other employees and officers of the Company and its Affiliates and to the following third parties for the purposes described in paragraph (a) above:

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(i)      Plan administrators, auditors, brokers, agents and contractors of, and third party service providers to, the Company or its Affiliates such as printers and mail houses engaged to print or distribute notices or communications about the Plan;
(ii)      regulators, tax authorities, stock or security exchanges and other supervisory, regulatory, governmental or public bodies as required by law or otherwise deemed necessary by the Company or its Affiliates;
(iii)      actual or proposed merger partners or proposed assignees of, or those taking or proposing to take security over, the business or assets of the Company or its Affiliates and their agents and contractors; 
(iv)      other third parties to whom the Company or its Affiliates may need to communicate/transfer the Data in connection with the administration of the Plan, under a duty of confidentiality to the Company and its Affiliates; and 
(v)      the Participant’s family members, physicians, heirs, legatees and others associated with the Participant in connection with the Plan.
Not all countries, where the personal Data may be transferred to, have an equal level of data protection as in the EU or the European Economic Area.  Countries to which Data are transferred include the USA and Ireland and other locations where the Company and its Affiliates, as applicable, administer the Plan.
All national and international transfer of personal Data is only done in order to fulfill the obligations and rights of the Company and/or its Affiliates under the Plan. 
The Participant has the right to be informed whether the Company or its Affiliates hold personal Data about the Participant and, to the extent they do so, to have access to those personal Data at no charge and require them to be corrected if they are inaccurate or to cease processing if the Participant wishes to withdraw his or her consent.  The Participant is entitled to all the other rights provided for by applicable data protection law, including those detailed in any applicable documentation or guidelines provided to the Participant by the Company or its Affiliates in the past.  More detailed information is available to the Participant by contacting the appropriate local data protection officer in the country in which the Participant is based from time to time.  If the Participant has a complaint regarding the manner in which personal information relating to the Participant is dealt with, the Participant should contact the appropriate local data protection officer referred to above. 
		
	(d)
	The Participant understands that the Participant may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data, or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Participant’s local data contact referred to above.  The Participant understands, however, that refusing or withdrawing the Participant’s consent may affect the Participant’s ability to participate in the Plan (and may result in the 

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forfeiture of unvested RSUs).  For more information on the consequences of the Participant’s refusal to consent or withdrawal of consent, the Participant understands that the Participant may contact the data protection officer referred to above.
		
	(e)
	Finally, upon request of the Company, the Participant agrees to provide an executed data privacy consent form (or any other agreements or consents that may be required by the Company) that the Company may deem necessary to obtain from the Participant for the purposes of administering the Participant’s participation in the Plan in compliance with the data privacy laws in the Participant’s country, either now or in the future. The Participant understands and agrees that the Participant will not be able to participate in the Plan if the Participant fails to provide any such consent or agreement requested by the Company.

9Exhibit

CONSULTING AGREEMENT
This “Consulting Agreement” (“Agreement”) with an effective date of March 16, 2018 (the “Effective Date”), sets forth the terms and conditions whereby McKinsey & Company, Inc. United States, with offices at, among other locations, 1200 Nineteenth Street NW, Suite 1000, Washington, D.C. 20036 (“McKinsey”) agrees to provide certain services to Universal Technical Institute, Inc. (“UTI”) with its headquarters located at 16220 N. Scottsdale Road, Suite 100, Scottsdale, Arizona 85254. 

1.SERVICES.
1.1UTI hereby engages McKinsey, and McKinsey hereby accepts such engagement, as an independent contractor to provide certain services to UTI on the terms and conditions set forth in this Agreement. 
1.2McKinsey shall provide to UTI the following consulting services:   transformation office development, performance infrastructure, and change management relating to marketing, admissions, future student processing, retention and completion, and cost savings initiatives (collectively, the “Services”).  The Services will be more fully-described in one or more mutually-agreeable statements of work (collectively, “SOW”) that will define the scope of work, project specific activities, deliverables, and benchmarks. In the event that the SOW and Agreement are in conflict, the Parties will attempt to harmonize the SOW and Agreement.  If that is not accomplished, this Agreement shall take control. McKinsey shall provide to UTI the variety of bundled services set forth above and detailed in the SOW. In order to perform the Services, McKinsey will deploy a set of full-time teams and part-time senior experts to establish the transformation infrastructure and to support the UTI team in planning and implementing the initiatives as set forth in the SOW.   
1.3It is expressly acknowledged and agreed that the role of McKinsey is to be advisory in nature and under no circumstances will any member(s) of the McKinsey team serving UTI be considered to be an officer, director, or employee of UTI, or have the power or authority to bind or commit UTI including, without limitation, the power or authority to enter into any agreement or undertaking on behalf of UTI, nor will McKinsey engage in any student recruiting activity constituting securing enrollments or the award of financial aid under Title IV of the Higher Education Act of 1965, as amended, and the rules and regulations thereunder (the “HEA”).  McKinsey is not UTI’s agent or fiduciary.
1.4To the extent McKinsey performs any Services on UTI’s premises or using UTI’s equipment, McKinsey shall comply with all applicable policies of UTI relating to business and office conduct, health and safety, and use of UTI’s facilities, supplies, information technology, equipment, networks, and other resources. 
1.5Unless otherwise set forth in the SOW, McKinsey shall furnish, at McKinsey’s own expense, the equipment, supplies, and other materials used to perform the Services. UTI shall provide 

McKinsey with access to its premises, data, and equipment to the extent necessary for the performance of the Services.
2.TERM. The term of this Agreement shall commence on the Effective Date and shall continue from the Effective Date to September 30, 2020, unless earlier terminated in accordance with Section 10 below (the “Term”) or by mutual agreement of the parties. Any extension of the Term will be subject to a mutual written agreement between the parties.
3.FEES AND EXPENSES.
3.1The compensation to McKinsey for the combined collective Services in this Agreement shall be comprised of the following package: UTI shall pay McKinsey a fee of $9,300,000.00, which shall be reduced by the $330,000.00 in fees incurred prior to execution of this Agreement (the “Fee”).  To the extent those incurred fees are invoiced prior to the first invoice issued under the SOW, then the total Fee shall be reduced accordingly to $8.97M. UTI shall pay the fee in sixteen (16) equal monthly installments commencing thirty (30) days after the Effective Date, with all subsequent payments to be due on the same day of each month after that. If any payment falls due on a Saturday, Sunday, or federal holiday, the payment shall be due on the next business day.  McKinsey shall be eligible for an additional fee of up to $4,660,000.00 (the “Revenue Sharing Fee and Cost Savings Sharing”) pursuant to the SOW.  This combined fee package shall constitute consideration for the complete collective scope of Services to be rendered by McKinsey pursuant to the SOW.  McKinsey acknowledges that McKinsey will receive an IRS Form 1099-MISC from UTI, and that McKinsey shall be solely responsible for all federal, state, and local taxes, as set out in Section 4.2 below.    
3.2McKinsey is solely responsible for any travel or other costs or expenses incurred by McKinsey in connection with the performance of the Services, and in no event shall UTI reimburse McKinsey for any such costs or expenses.  Without limiting the foregoing, the Fee and Revenue Sharing Fee are inclusive of all costs and expenses.  
4.RELATIONSHIP OF THE PARTIES.
4.1McKinsey is an independent contractor of UTI, and this Agreement shall not be construed to create any association, partnership, joint venture, employee, or agency relationship between McKinsey and UTI for any purpose. McKinsey has no authority (and shall not hold itself out as having authority) to bind UTI and McKinsey shall not make any agreements or representations on UTI’s behalf without UTI’s prior written consent.
4.2Without limiting Section 4.1, McKinsey will not be eligible to participate in any vacation, group medical or life insurance, disability, profit sharing or retirement benefits, or any other fringe benefits or benefit plans offered by UTI to its employees, and UTI will not be responsible for withholding or paying any income, payroll, Social Security, or other federal, state, or local taxes, making any insurance contributions, including for unemployment or disability, or obtaining workers’ compensation insurance on McKinsey’s behalf. McKinsey shall be responsible for, and shall indemnify UTI against, all such taxes or contributions, including penalties and interest. Any persons employed or engaged by McKinsey in connection with the performance of the Services shall be 

McKinsey’s employees or contractors and McKinsey shall be fully responsible for them and indemnify UTI against any claims made by or on behalf of any such employee or contractor.
5.INTELLECTUAL PROPERTY RIGHTS.
5.1UTI is and shall be the sole and exclusive owner of all right, title, and interest throughout the world in and to all the results and proceeds of the Services furnished under this Agreement, including but not limited to the deliverables set out on SOW (collectively, the “Deliverables”), including all patents, copyrights, trademarks, trade secrets, and other intellectual property rights (collectively “Intellectual Property Rights”) therein. McKinsey agrees that the Deliverables are hereby deemed a “work made for hire” as defined in 17 U.S.C. § 101 for UTI.  If, for any reason, any of the Deliverables do not constitute a “work made for hire,” McKinsey hereby irrevocably assigns to UTI, in each case without additional consideration, all right, title, and interest throughout the world in and to the Deliverables, including all Intellectual Property Rights therein.
5.2Any assignment of copyrights under this Agreement includes all rights of paternity, integrity, disclosure, and withdrawal and any other rights that may be known as “moral rights” (collectively, “Moral Rights”).  McKinsey hereby irrevocably waives, to the extent permitted by applicable law, any and all claims McKinsey may now or hereafter have in any jurisdiction to any Moral Rights with respect to the Deliverables.
5.3Except as provided herein or required by applicable law and/or regulation, UTI agrees that it will not use McKinsey’s name, refer to McKinsey’s work, or make the Deliverables or the existence or terms of this Agreement available outside UTI without McKinsey’s prior written permission.  
5.4Notwithstanding Section 5.1, McKinsey shall retain ownership of all concepts, know-how, tools, frameworks, models, and industry perspectives developed or enhanced outside of or in connection with the Services (the “McKinsey Tools”), it being understood that none of the McKinsey Tools will contain the UTI’s Confidential Information. To the extent the Deliverables include any McKinsey Tools, McKinsey hereby grants UTI a non-exclusive, non-transferable, non-sublicenseable, worldwide, royalty-free license to use and copy the McKinsey Tools solely as part of the Deliverables and subject to the conditions set forth in Section 5.3. 
6.CONFIDENTIALITY.
6.1McKinsey acknowledges that McKinsey will have access to information that is treated as confidential and proprietary by UTI including without limitation the existence and terms of this Agreement, trade secrets, technology, and information pertaining to business operations and strategies, customers, pricing, marketing, and finances, in each case whether spoken, written, printed, electronic, or in any other form or medium; such information may also include student “education records” containing “personally identifiable information” about students and/or prospective students of UTI that is or could become protected by the Family Educational Rights and Privacy Act, 20 U.S.C. 1232g and 34 CFR Part 99 (“FERPA”) (collectively, the “Confidential Information”).  (All terms in quotation marks in this paragraph shall have the meaning ascribed under FERPA.)  The parties accordingly agree that for the purpose of this Agreement only, McKinsey 

shall be a “school official” with “legitimate educational interests” in student data, and as such McKinsey agrees to abide by the requirements imposed by 34 CFR 99.33(a) and McKinsey will not re-disclose education records containing student data to third parties without the prior written consent of UTI.  McKinsey further acknowledges and agrees that it shall use student data solely on a need-to-know basis in pursuit of the commitments and undertakings of this Agreement, and shall limit disclosure to those individuals within its organization that have a “legitimate educational interest”.  
6.2Any Confidential Information that McKinsey develops in connection with the Services, including but not limited to any Deliverables (excluding the McKinsey Tools), shall be subject to the terms and conditions of this clause. McKinsey agrees to treat all Confidential Information as strictly confidential, not to disclose Confidential Information or permit it to be disclosed, in whole or part, to any third party without the prior written consent of UTI in each instance, and not to use any Confidential Information for any purpose except as required in the performance of the Services. McKinsey shall notify UTI immediately in the event McKinsey becomes aware of any loss or disclosure of any Confidential Information.
6.3Confidential Information shall not include information that:
(a)is or becomes generally available to the public other than through McKinsey’s breach of this Agreement; or
(b)is communicated to McKinsey by a third party that had no confidentiality obligations with respect to such information.
6.4UTI agrees that it will not use McKinsey’s name in publicly filed documents without prior written consent unless otherwise required by law or NYSE listing requirements.  Nothing herein shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation, or order.  McKinsey agrees to provide written notice of any such order to an authorized officer of UTI within seven (7) days of receiving such order, but in any event sufficiently in advance of making any disclosure to permit UTI to contest the order or seek confidentiality protections, as determined in UTI’s sole discretion.
7.REPRESENTATIONS AND WARRANTIES; COVENANTS.
7.1McKinsey represents and warrants to UTI, as of the Effective Date and throughout the entire Term of the Agreement, as follows:
(a)McKinsey has the right to enter into this Agreement, to grant the rights granted herein and to perform fully all of McKinsey’s obligations in this Agreement; 
(b)McKinsey is not affiliated with UTI and is not affiliated with any other institution that provides educational services, as the concept of affiliation is defined in provisions including, but not limited to, 2 C.F.R. § 180.905;

(c)McKinsey’s entering into this Agreement with UTI and McKinsey’s performance of the Services do not and will not conflict with or result in any breach or default under any other agreement to which McKinsey is subject;
(d)McKinsey has the required skill, experience, and qualifications to perform the Services.  McKinsey shall perform the Services in a professional and workmanlike manner in accordance with industry standards for similar services and McKinsey shall devote sufficient resources to ensure that the Services are performed in a timely and reliable manner; 
(e)McKinsey shall perform the Services in compliance with all applicable federal, state, and local laws and regulations;
(f)UTI will receive good and valid title to all Deliverables, free and clear of all encumbrances and liens of any kind; and
(g)all Deliverables are and shall be McKinsey’s original work (except for material in the public domain or provided by UTI) and do not and will not violate or infringe upon the intellectual property right or any other right whatsoever of any person, firm, corporation, or other entity.
7.2McKinsey further covenants and agrees that, during the entire Term of this Agreement, it shall not: 
(a)engage in any student recruiting activity, or secure any enrollments or the award of any federal financial aid, as defined at 34 CFR 668.14(b)(22)(iii), or provide any commission, bonus, or other incentive payment based in any part, directly or indirectly, upon success in securing enrollments or the award of financial aid, to any McKinsey employee, independent contractor, consultant, subcontractor, or other person or entity engaged in any student recruitment or admission activity, or such McKinsey employee, independent contractor, consultant, subcontractor, or other person or entity with responsibility for recruitment or admission of students;
(b)determine the number of students accepted for admission or enrollment at UTI
(c)undertake any actions involving the administration of federal financial aid under Title IV of the HEA or that could cause McKinney to become a “third party servicer” as defined at 34 CFR 668.25.
7.3McKinsey covenants and agrees that, during the entire Term of this Agreement, it shall provide the full bundled array of Services pursuant to Section 1.2 above and as is more fully described in the SOW.  
7.4UTI represents and warrants to McKinsey that:
(a)it has the full right, power, and authority to enter into this Agreement and to perform its obligations hereunder; and
(b)the execution of this Agreement by its representative whose signature is set forth at the end hereof has been duly authorized by all necessary corporate action.

7.5Many situations may arise that are not fully or clearly covered by the terms set forth in this Agreement.  The parties represent to each other that they will work in good faith to resolve such situations in the spirit of this Agreement.   
8.INDEMNIFICATION & LIABILITY.
8.1McKinsey shall defend, indemnify, and hold harmless UTI and its affiliates and their officers, directors, employees, agents, successors, and assigns from and against all losses, damages, liabilities, deficiencies, actions, judgments, interests, awards, penalties, fines, costs, or expenses of whatever kind (including reasonable attorneys’ fees) to the extent arising out of or resulting from McKinsey’s breach of any express representation, covenant or warranty under this Agreement.
8.2UTI may satisfy such indemnity (in whole or in part) by way of deduction from any payment due to McKinsey.
8.3The Services shall not be deemed investment, legal, tax, accounting or other regulated advice.  McKinsey does not supplant UTI’s management or other decision-making bodies and does not guarantee results.  UTI remains solely responsible for its decisions, actions, use of the Deliverables and compliance with applicable laws, rules and regulations.  UTI agrees to pay for reasonable costs McKinsey incurs as a result of its required participation as a non-party in any legal, regulatory, or administrative proceeding relating to the Services. In no event shall McKinsey’s liability to UTI in connection with the Services exceed the fees received by McKinsey in connection with the Services, plus reasonable attorneys’ fees and costs.  Neither party will be liable for any lost profits or other indirect, consequential, incidental, punitive or special damages.
9.INSURANCE. During the Term, McKinsey shall maintain in force adequate workers’ compensation, commercial general liability, errors and omissions, and other forms of insurance, in each case with insurers reasonably acceptable to UTI, with policy limits sufficient to protect and indemnify UTI and its affiliates, and each of their officers, directors, agents, employees, subsidiaries, partners, members, controlling persons, and successors and assigns, from any losses resulting from McKinsey’s conduct, acts, or omissions or the conduct, acts, or omissions of McKinsey’s agents, contractors, servants, or employees.  UTI shall be listed as an additional insured under such policy, and McKinsey shall forward a certificate of insurance verifying such insurance upon UTI’s written request, which certificate will indicate that such insurance policies may not be canceled before the expiration of a 30-day notification period and that UTI will be immediately notified in writing of any such notice of termination.
10.TERMINATION.
10.1Either McKinsey or UTI may terminate this Agreement, effective immediately upon written notice to the other party to this Agreement, if the other party breaches this Agreement, and such breach is incapable of cure, or with respect to a breach capable of cure, the other party does not cure such breach within thirty (30) days after receipt of written notice of such breach. 
10.2Either party may, upon written notice to the other party, terminate the Agreement for cause  if any of the following conditions arise:

(a)The change or announcement of an impending change in actual or de facto control of either party; 
(b)Neither the current UTI C.E.O. or C.O.O. are directly responsible for the management of the consulting arrangement with McKinsey such that successful execution of the Agreement is no longer a key business priority for UTI; 
(c)A material change in the business portfolio, e.g., programs and campuses, of UTI that was not previously disclosed to McKinsey; 
10.3  In the event any of the conditions occur in 10.3(a) or 10.3(b), as set forth below, the parties pledge to work in good faith to modify this Agreement in a manner consistent with objectives of this agreement as the preferred alternative to termination.  In the event such modification is not possible, the parties will work in good faith to effectuate an organized wind-down of the Services.
(a)A change in regulation or laws which makes it unlikely that the SOW can be achieved; or
(b)A force majeure event, including, without limitation, labor disputes, strikes, walk-outs, delays relating to supply of services, disruption in supply chain, damage to or breakdown of UTI’s headquarters, hurricanes, earthquakes, floods, snow storms, ice storms, electrical failure or any other natural disasters or acts of God, war, sabotage, military actions (or the escalation thereof), terrorist attack, or epidemic, occurs which materially impacts the Fee or the Revenue Sharing Fee.
10.4UTI may terminate this Agreement without cause upon thirty (30) days' written notice to McKinsey.  The effective date of termination shall be thirty (30) days after the date of written notice. 
10.5In the event McKinsey terminates for UTI’s breach under Section 10.1, or McKinsey terminates for cause under Section 10.2, or UTI terminates without cause pursuant to Section 10.4, UTI shall pay McKinsey amounts as set forth on the following table in accordance with the timing of the termination as set forth below: 
	
		
	Termination Timing
	Amount

	after April 30, 2018
	2,900,000

	after May 31, 2018
	3,900,000

	after June 30, 2018
	4,800,000

	after July 31, 2018
	5,650,000

	after August 31, 2018
	6,350,000

	after September 30, 2018
	7,050,000

	after October 31, 2018
	7,700,000

	after November 30, 2018
	8,350,000

	after December 31, 2018
	8,970,000

Additionally, UTI shall pay McKinsey the greater of (a) the Revenue Sharing Fee and/or Cost Savings Sharing already earned or (b) Revenue Sharing Fee and/or Cost Savings Sharing of $1M if terminated on or before December 31, 2018, or $2M if terminated after December 31, 2018 and on or before December 31, 2019, or $3M if terminated after December 31, 2019 and on or before September 30, 2020. 
10.6In the event UTI terminates for McKinsey’s incurable breach under Section 10.1, McKinsey shall retain any fees paid regardless of whether from the Fee, Revenue Sharing Fee, and/or Cost Savings Sharing and shall not be entitled to any other fees whatsoever. 
10.7In the event any of the conditions in Section 10.2 occur, the parties pledge to work in good faith to modify this Agreement in a manner consistent with objectives of this Agreement as the preferred alternative to termination. In the event such modification is not possible, the parties will work in good faith to effectuate an organized wind-down of the Services.   
10.8Upon expiration or termination of this Agreement for any reason, or at any other time upon UTI’s written request, McKinsey shall, within fifteen (15) days after such expiration or termination:
(a)deliver to UTI all Deliverables (whether complete or incomplete) and all data, information, finances, hardware, software, tools, equipment, or other materials provided for McKinsey’s use by UTI;
(b)deliver to UTI all tangible documents and materials (and any copies) containing, reflecting, incorporating, or based on the Confidential Information;
(c)permanently erase all of the Confidential Information from McKinsey’s computer systems; and
(d)certify in writing to UTI that McKinsey has complied with the requirements of this clause.
10.9The terms and conditions of this clause and Sections 4, 5, 6, 7, 8, 11, 12, 13, and 14 shall survive the expiration or termination of this Agreement.
11.NON-SOLICITATION. McKinsey agrees that during the Term of this Agreement and for a period of 12 months following the termination or expiration of this Agreement, it shall not make any solicitation to employ UTI’s personnel without written consent of UTI to be given or withheld in UTI’s sole discretion. 
12.ASSIGNMENT. Neither party may assign any rights, or delegate or subcontract any obligations, under this Agreement without the other party’s prior written consent. Any assignment in violation of the foregoing shall be deemed null and void.  Subject to the limits on assignment 

stated above, this Agreement will inure to the benefit of, be binding upon, and be enforceable against each of the parties hereto and their respective successors and assigns.
13.MISCELLANEOUS.
13.1All notices, requests, consents, claims, demands, waivers, and other communications hereunder (each, a “Notice”) shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other address that may be designated by the receiving party from time to time in accordance with this Section). All Notices shall be delivered by personal delivery, nationally recognized overnight courier (with all fees prepaid), facsimile, email (with confirmation of transmission), or certified or registered mail (in each case, return receipt requested, postage prepaid).  Except as otherwise provided in this Agreement, a Notice is effective only if (a) the receiving party has received the Notice and (b) the party giving the Notice has complied with the requirements of this Section.
13.2This Agreement, together with any other documents incorporated herein by reference, and the SOW constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, drafts, representations, and warranties, both written and oral, with respect to such subject matter.
13.3This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each party hereto, and any of the terms thereof may be waived, only by a written document signed by each party to this Agreement or, in the case of waiver, by the party or parties waiving compliance. 
13.4The failure of any party to insist in any one or more instances upon the performance of any of the provisions of this Agreement or to pursue its rights hereunder shall not be construed as a waiver of any such provisions or the relinquishment of any such rights.
13.5This Agreement is the result of negotiations between the parties, and no party shall be deemed to be the drafter of this Agreement.  The language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning and not strictly for or against any party.  
13.6This Agreement shall be interpreted without any presumption or inference based upon or against the party causing this Agreement to be drafted. UTI acknowledges that McKinsey is not a registered lobbyist and agrees that McKinsey will not be performing lobbying services under this Agreement.
13.7If any term of this Agreement is to any extent illegal, otherwise invalid, or incapable of being enforced, such term shall be excluded to the extent of such invalidity or unenforceability; all other terms hereof shall remain in full force and effect. 
13.8In the event that the parties working in good faith are unable to resolve any dispute arising under the Agreement within thirty (30) days, or such earlier time period as mutually agreed 

by the parties, such dispute (other than a dispute related to a breach of confidentiality) shall then be decided exclusively by confidential, binding, non-appealable arbitration in the County of New York, New York under the Commercial Arbitration Rules then in effect (the “Rules”) of the American Arbitration Association (the “AAA”), before a sole arbitrator who shall be a retired or former judge or attorney with at least ten (10) years of experience and be mutually acceptable to the parties. If the parties cannot agree upon an arbitrator within thirty (30) days after the initiation of arbitration then the appointment of the sole arbitrator shall be made by the AAA in accordance with the Rules, except as they may be modified by the mutual agreement of the parties. The award of any arbitration shall be final, conclusive and binding on the parties, and judgment on the award may be entered in any court of competent jurisdiction. The arbitrator shall be limited, in granting any relief, to comply with the provisions of this Agreement, including with respect to the award of damages or the limitation thereof. Either party may seek interim measures of protection concerning any subject matter of the dispute subject to arbitration, including but not limited to interim injunctive relief, in a court of competent jurisdiction located in the County of New York, New York.
13.9With respect to either party, the term “affiliates” means any entities that directly or indirectly control or are controlled by, or under the same control as, such party or any other entities affiliated with such party or entities.  Unless noted otherwise, any reference to McKinsey and/or UTI shall include affiliates.
13.10This Agreement may be executed in multiple counterparts and by facsimile signature, each of which shall be deemed an original and all of which together shall constitute one instrument. 
If this Agreement accurately sets forth the understandings by and between UTI and McKinsey, execute the enclosed copy of this Agreement and return it to UTI.
UNIVERSAL TECHNICAL INSTITUTE, INC.
BY:________________________________                         
Name:______________________________                    
Title:_______________________________                        
Date:_______________________________ 

MCKINSEY & COMPANY, INC. UNITED STATES
BY:________________________________                         
Name:______________________________                    
Title:_______________________________                        
Date:_______________________________ 
Federal Tax Id. No.:

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