Document:

2006 Restricted Stock Plan, as amended on January 27, 2011

 Exhibit 10 (a) 
 ALBERTO-CULVER COMPANY 
 2006 RESTRICTED STOCK PLAN 

(as amended through January 27, 2011) 
 SECTION 1. ESTABLISHMENT AND PURPOSE 
 1.1 Establishment The
Alberto-Culver Company (the “Company”) hereby establishes a restricted stock plan for (i) Key Employees, as defined herein, and (ii) members of the Board of Directors who are not officers or employees of the Company or any of its
subsidiaries (“Eligible Directors”) which shall be known as the 2006 Restricted Stock Plan (the “RSP”). 

1.2 Purpose The purpose of the RSP is to enable the Company to attract, retain, motivate, and reward Key Employees and Eligible
Directors by providing them with a means to acquire an equity interest or to increase such interest in the Company. 
 1.3
Definitions Whenever used herein, the following terms shall have the meanings set forth below: 
  

	 	(a)	“Board” means the Board of Directors of the Company. 

  

	 	(b)	“Change in Control” shall have the meaning set forth in Section 7.2(a). 

 

	 	(c)	“Committee” means the Compensation and Leadership Development Committee of the Board or, if any member of the Committee is not (i) an “outside
director” within the meaning of Section 162(m) of the Internal Revenue Code of 1986 and the rules and regulations thereunder (the “Code”) or (ii) a “non-employee director” within the meaning of Section 16
(“Section 16”) of the Securities Exchange Act of 1934 and the rules and regulations thereunder (“Exchange Act”), the Committee shall set up a subcommittee comprised solely of outside directors and non-employee directors for
purposes of all matters arising under this RSP involving “officers” within the meaning of Rule 16a-1(f) under Section 16, and “covered employees” within the meaning of Section 162(m) of the Code for the plan year at
issue. 

  

	 	(d)	“Disability” shall have the meaning provided in the Company’s applicable long-term disability plan and such disability continues for more than three
months or, in the absence of such a definition, when a Participant becomes totally disabled as determined by a physician mutually acceptable to the Participant and the Company before attaining the Retirement age as defined below and if such total
disability continues for more than three months. Disability does not include any condition which is intentionally self-inflicted or caused by illegal acts of the Participant. 

 

	 	(e)	“Exempt Person” and “Exempt Persons” shall have the meaning set forth in Section 7.2(b). 

 

	 	(f)	 “Fair Market Value” shall mean the average of the high and low transaction prices of a

	 	 
share of Common Stock as reported in the New York Stock Exchange Composite Transactions on the date as of which such value is being determined or, if there shall be no reported transactions for
such date, on the next preceding date for which transactions were reported. 

  

	 	(g)	“Key Employee” means an active employee (including officers and directors who also are employees) of the Company or its subsidiaries with direct impact on the
performance of the Company. 

  

	 	(h)	“Incumbent Board” shall have the meaning set forth in Section 7.2(c). 

 

	 	(i)	“Participant” means Key Employees designated by the Committee and Eligible Directors who are awarded and hold Restricted Stock pursuant to the RSP.

  

	 	(j)	“Restricted Stock” shall mean the Common Stock of the Company, $.01 par value, with such restrictions as described in Section 6.

  

	 	(k)	“Restricted Stock Agreement” shall have the meaning set forth in Section 6.1. 

 

	 	(l)	“Retirement” shall be reached for an employee when his or her employment terminates and at the time of such termination the sum of such employee’s age
and years of service as an employee of the Company or any of its subsidiaries equals or exceeds 75 years. Retirement shall be reached for an Eligible Director when his or her directorship terminates and at the time of termination such Eligible
Director has served on the Board for at least three years, provided that such termination of the Eligible Director was not by the Company for cause. 

 SECTION 2. ADMINISTRATION 
 2.1 Administration The RSP shall be
administered by the Committee. The Committee shall have full power to construe, administer and interpret the RSP, and full power to adopt such rules and regulations as the Committee may deem desirable to administer the RSP. No member of the
Committee shall be liable for any action or determination made in good faith with respect to the RSP or any Restricted Stock thereunder. Determinations by the Committee under the RSP need not be uniform and may be made by it selectively among
Participants, whether or not such persons are similarly situated. 
 2.2 Finality of Determination The determination of
the Committee as to any disputed questions arising under this RSP, including questions of construction and interpretation, shall be final, conclusive and binding. 

  
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 SECTION 3. ELIGIBILITY AND PARTICIPATION 

3.1 Eligibility Key Employees of the Company and its subsidiaries are eligible to receive Restricted Stock under the RSP, in such
amounts and on as many occasions as the Committee in its sole discretion may determine. Eligible Directors shall receive Restricted Stock under the RSP in accordance with the provisions of Section 6.1(b). 

3.2 Participation The Committee shall designate the Key Employees to receive Restricted Stock, the time or times and the size and
terms of each individual grant of Restricted Stock under the RSP. Eligible Directors are automatically entitled to receive Restricted Stock at the times and in the amounts in accordance with the provisions set forth in Section 6.1(b).

 SECTION 4. STOCK SUBJECT TO THE RSP 
 4.1 Number The total number of shares of Restricted Stock that may be granted under the RSP shall not exceed 1,500,000. These shares may consist, in whole or in part, of authorized but unissued
shares of stock or shares of stock reacquired by the Company and not reserved for any other purpose. 
 4.2 Reacquired and
Withheld Shares If, at any time, shares of Restricted Stock issued pursuant to the RSP shall have been reacquired by the Company in connection with the restrictions herein imposed on such shares, such reacquired shares again shall become
available for issuance under the RSP at any time prior to its termination. In addition until November 1, 2016, any shares of Restricted Stock withheld to pay, in whole or in part, the amount required to be withheld under applicable tax laws in
accordance with Section 6.12 hereof, shall become available for issuance under the RSP at any time prior to its termination. 
 4.3 Adjustment upon Change in Stock The Committee shall take such action with regard to adjustment of the number of shares of Restricted Stock that may be granted hereunder as it considers to be
equitable in its sole and absolute discretion in the event there is any change in the outstanding Common Stock, or any event that could cause a change in the outstanding Common Stock, including, without limitation, by reason of a stock dividend,
stock split, reverse stock split, spin-off, recapitalization, reclassification, merger, consolidation, combination, issuance of securities convertible into or exchangeable for Common Stock, exchange or conversion of shares, or any other similar type
of event. The Committee’s determination of any adjustment pursuant to this Section 4.3 shall be final, conclusive and binding. 

SECTION 5. DURATION OF THE RSP 
 The RSP shall continue until all Restricted Stock subject to it shall have been granted and vested under the RSP, subject to the provisions of the RSP regarding amendments thereto and termination thereof.

  
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 SECTION 6. SHARES OF RESTRICTED STOCK 

6.1 Grant of Shares of Restricted Stock 
 (a) Awards of Restricted Stock to Participants shall be granted under a Restricted Stock Agreement between the Company and the Participant which shall provide that the shares subject to any such award
shall be subject to such forfeiture and other conditions, including the provisions of Section 6.7 hereof, as the Committee shall designate, which are consistent with the terms of this RSP. 

(b) Awards of Restricted Stock to Eligible Directors shall automatically be granted hereunder, without further action
required, to each Eligible Director of the Company (i) on the date of his or her initial election or appointment as a director of the Company (“Initial Grant”) and (ii) on the date of every Annual Meeting of the Stockholders
(“Annual Meeting”) commencing with the Annual Meeting scheduled for January 24, 2008 (“Subsequent Grant”), but specifically excluding the Annual Meeting that occurs in calendar year 2011. No director shall be entitled to an
Initial Grant if his or her initial election or appointment to the Board occurred on or after June 1st of the fiscal year in which he or she joined the Board. No director who has received an Initial Grant shall be entitled to receive a Subsequent Grant during the same fiscal year of the Company, no
director shall be entitled to receive more than one Subsequent Grant in any fiscal year of the Company and no director shall be entitled to more than one Initial Grant. Initial Grants shall consist of approximately $75,000 of Restricted Stock valued
by dividing $75,000 by the Fair Market Value of a share Common Stock on the date of grant and rounding to the nearest 100 shares. Subsequent Grants shall consist of approximately $75,000 of Restricted Stock valued by dividing $75,000 by the Fair
Market Value of a share of Common Stock on the date of grant and rounding to the nearest 100 shares. 
 6.2 Vesting
Except as otherwise provided in Sections 7.1 and/or 6.8 hereof, Restricted Stock granted hereunder will vest on a cumulative basis in equal annual increments of one-fourth of the shares granted, commencing on the day preceding the first anniversary
of the grant of the Restricted Stock for Key Employees and the second anniversary of the grant of the Restricted Stock for Eligible Directors. Those shares will be fully vested after a period of four (4) years from the day preceding the date of
grant for Key Employees and five (5) years from the day preceding the date of grant for Eligible Directors. With respect to Restricted Stock granted to Key Employees, the Committee, may (i) accelerate the vesting of such Restricted Stock
subject to such terms and conditions as the Committee deems necessary or desirable to effectuate the purpose of the RSP or (ii) specifically provide at the date of grant for another vesting schedule which is different than the vesting schedule
set forth in the first two sentences of this Section 6.2. In addition, with respect to Restricted Stock granted to Key Employees, the Committee may grant Restricted Stock that is immediately vested upon the date of issuance. 

6.3 Transferability Subject to Section 6.8 hereof, a Participant’s rights under the RSP may not be assigned and any
Restricted Stock granted to a Participant may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated as long as the shares are subject to forfeiture or other conditions as provided in this RSP, and as set forth in the
Restricted Stock Agreement pursuant to 

  
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which such shares were granted. 
 6.4 Removal of Restrictions
Except as otherwise provided herein, or as may be required by applicable law, shares of Restricted Stock covered by each Restricted Stock Agreement made under this RSP will become freely transferable by the Participant upon vesting in accordance
with Sections 6.2, 6.8 and/or 7.1. 
 6.5 Other Restrictions The Committee may impose such other restrictions on any
shares granted pursuant to this RSP as it may deem advisable, including, without limitation, restrictions required by (1) federal securities laws, (2) requirements of any stock exchange upon which such shares of the same class are listed
and (3) any state securities laws applicable to such shares. 
 6.6 Certificates In addition to any legends placed
on certificates pursuant to Section 6.5, the Company reserves the right to place on each certificate representing shares of Restricted Stock a restrictive legend, which legend may be in the following form: 

The sale or other transfer of shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is
subject to the restrictions on transfer and forfeiture conditions (which include the satisfaction of certain employment or director service requirements) set forth in the 2006 Restricted Stock Plan and Restricted Stock Agreement. A copy of such
agreement may be inspected at the offices of the Secretary of the Company. 
 All certificates representing shares of Restricted Stock may be
held by the Secretary of the Company in escrow on behalf of the Participant awarded such shares, together with a Power of Attorney (if any) executed by the Participant, in the form satisfactory to the Committee and authorizing the Company to
transfer such shares as provided in the Restricted Stock Agreement, until such time as all restrictions imposed on such shares pursuant to the RSP and the Restricted Stock Agreement have expired or been earlier terminated. 

6.7 Termination of Employment In the event that, prior to the removal of restrictions on shares of Restricted Stock as
contemplated by Section 6.4, a Participant’s employment or directorship with the Company terminates for any reason other than death, Retirement, Disability, or a Change in Control, any shares subject to time period restrictions or other
forfeiture conditions at the date of such termination shall automatically be forfeited to the Company. A Participant shall not forfeit any rights to Restricted Stock previously granted to him or her, solely because he or she ceases to qualify as a
Key Employee. 
 6.8 Death, Retirement or Disability 

(a) In the event that, prior to the removal of restrictions on shares of Restricted Stock as contemplated by Section 6.4, a
Participant’s employment or directorship with the Company terminates because of death or Disability, any uncompleted portion of a time period restriction or other forfeiture 

  
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conditions, as set forth herein or in the terms of the Restricted Stock Agreement, shall be waived and all such Restricted Stock shall immediately vest. The shares released from such restrictions
pursuant to this Section 6.8 thereafter shall be freely transferable by the Participant or by the person set forth in Section 6.8 (c) and (d) in the case of the Participant’s death, subject to any applicable legal
requirements. 
 (b) In the event that, prior to the removal of restrictions on shares of Restricted Stock as contemplated by
Section 6.4, a Participant’s employment or directorship with the Company terminates because of Retirement, any uncompleted portion of a time period restriction or other forfeiture conditions, as set forth herein or in the terms of the
Restricted Stock Agreement, shall be waived and all such Restricted Stock shall immediately vest. The shares released from such restrictions pursuant to this Section 6.8 thereafter shall be freely transferable by the Participant, subject to any
applicable legal requirements. 
 (c) A Participant may from time to time name in writing any person or persons to whom his or
her Restricted Stock should be given if the Participant dies. Each such beneficiary designation will revoke all prior designations by the Participant with respect to the RSP, shall not require the consent of any previously named beneficiary, and
will be effective only when filed with the Secretary of the Company during the Participant’s lifetime. 
 (d) If a
Participant fails to designate a beneficiary before his or her death, as provided above, or if the beneficiary designated by the Participant dies prior to receiving the Restricted Stock hereunder, the Company shall transfer the Restricted Stock to
the surviving spouse of the Participant, or in the event there is no such surviving spouse, to the estate of the Participant. 

6.9 Voting Rights Participants shall have full voting rights with respect to shares of Restricted Stock. 

6.10 Dividend Rights Participants shall have full dividend rights (subject to applicable withholding tax requirements) with any
such dividends being paid currently. Dividends paid to Key Employees on shares of Restricted Stock prior to the shares vesting will be treated as wages for federal income tax purposes and will be subject to withholding taxes by the Company.
Dividends paid to Eligible Directors on shares of Restricted Stock prior to the shares vesting will be treated as compensation for services for federal income tax purposes. If all or part of a dividend is paid in shares of stock, the dividend shares
shall be subject to the same restrictions on transferability as the shares of Restricted Stock that are the basis for the dividend. 
 6.11 Security Interest in Shares In connection with the execution of any Restricted Stock Agreement, the Committee may require that a Participant grant to the Company a security interest in the
shares of Restricted Stock issued or granted pursuant to this RSP to secure the payment of any sums (e.g.: income withholding taxes due when restrictions lapse) then owing or thereafter coming due to the Company by such Participant. This
security interest shall continue for such period of time as the certificates representing shares of Restricted Stock are held by the Secretary of the Company in escrow 

  
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on behalf of the Participant pursuant to Section 6.6. 
 6.12
Withholding Taxes Due At any time when a Participant is required to pay to the Company an amount required to be withheld under applicable tax laws in connection with the vesting of Restricted Stock or reaching Retirement age (calculated by
taking the minimum statutory withholding rates for federal, foreign, state and local tax purposes including payroll taxes, applicable to the income generated by the vesting of such Restricted Stock), the Participant may satisfy this obligation in
whole or in part by making an election to have the Company withhold shares of Restricted Stock having a value equal to the amount required to be withheld. The value of shares to be withheld shall be based on the Fair Market Value of the Restricted
Stock on the date the Participant vests in such shares or reaches Retirement age. 
 SECTION 7. CHANGE IN CONTROL 

7.1 Vesting Upon Change in Control Notwithstanding any provision of the RSP, all outstanding shares of Restricted Stock shall
immediately become fully vested upon the occurrence of a Change in Control. 
 7.2 Definitions 

(a) The term “Change in Control” means: 
 (1) the occurrence of any one or more of the following events: 

(A) The acquisition by any individual, entity or group (a “Person”), including any “person” within the
meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act of both (x) 20% or more of the combined voting power of the then outstanding
securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”) and (y) combined voting power of Outstanding Company Voting Securities in excess of the combined voting
power of the Outstanding Company Voting Securities held by the Exempt Persons (as such term is defined in Section 7.2(b)); provided, however, that a Change in Control shall not result from an acquisition of Company Voting
Securities: 
 (i) directly from the Company, except as otherwise provided in Section 7.2(a)(2)(A);

 (ii) by the Company, except as otherwise provided in Section 7.2(a)(2)(B); 

(iii) by an Exempt Person; 

  
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 (iv) by an employee benefit plan (or related trust) sponsored or maintained
by the Company or any corporation controlled by the Company; or 
 (v) by any corporation pursuant to a
reorganization, merger or consolidation involving the Company, if, immediately after such reorganization, merger or consolidation, each of the conditions described in clauses (i) and (ii) of Section 7.2(a)(1)(C) shall be satisfied.

 (B) The cessation for any reason of the members of the Incumbent Board (as such term is defined below) to
constitute at least a majority of the Board. 
 (C) Consummation of a reorganization, merger or consolidation
unless, in any such case, immediately after such reorganization, merger or consolidation: 
 (i) more than 60%
of the combined voting power of the then outstanding securities of the corporation resulting from such reorganization, merger or consolidation entitled to vote generally in the election of directors is then beneficially owned, directly or
indirectly, by all or substantially all of the individuals or entities who were the beneficial owners of the combined voting power of all of the Outstanding Company Voting Securities immediately prior to such reorganization, merger or consolidation;
and 
 (ii) at least a majority of the members of the board of directors of the corporation resulting from such
reorganization, merger or consolidation were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such reorganization, merger or consolidation. 

(D) Consummation of the sale or other disposition of all or substantially all of the assets of the Company other than
(x) pursuant to a tax-free spin-off of a subsidiary or other business unit of the Company or (y) to a corporation with respect to which, immediately after such sale or other disposition: 

(i) more than 60% of the combined voting power of the then outstanding securities thereof entitled to vote generally in
the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners of the combined voting power of all of the Outstanding Company Voting Securities
immediately prior to such 

  
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sale or other disposition; and 
 (ii) at least a majority
of the members of the board of directors thereof were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such sale or other disposition. 

(E) Approval by the stockholders of the Company of a plan of complete liquidation or dissolution of the Company.

 (2) Notwithstanding the provisions of Section 7.2(a)(1): 

(A) no acquisition of Company Voting Securities shall be subject to the exception from the definition of Change in Control
contained in clause (i) of Section 7.2(a)(1)(A) if such acquisition results from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the
Company; and 
 (B) for purposes of clause (ii) of Section 7.2(a)(1)(A), if any Person (other than the
Company, an Exempt Person or any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company) shall, by reason of an acquisition of Company Voting Securities by the Company, become the
beneficial owner of (x) 20% or more of the combined voting power of the Outstanding Company Voting Securities and (y) combined voting power of Outstanding Company Voting Securities in excess of the combined voting power of the Outstanding
Company Voting Securities held by the Exempt Persons, and such Person shall, after such acquisition of Company Voting Securities by the Company, become the beneficial owner of any additional Outstanding Company Voting Securities and such beneficial
ownership is publicly announced, such additional beneficial ownership shall constitute a Change in Control. 
 (b) The term
“Exempt Person” (and collectively, the “Exempt Persons”) means: 
 (1) Leonard H. Lavin or
Bernice E. Lavin; 
 (2) any descendant of Leonard H. Lavin and Bernice E. Lavin or the spouse of any such
descendant; 
 (3) the estate of any of the persons described in Section 7.2(b)(1) or (2); 

  
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 (4) any trust or similar arrangement for the benefit of any person described
in Section 7.2(b)(1) or (2); or 
 (5) the Lavin Family Foundation or any other charitable organization
established by any person described in Section 7.2(b)(1) or (2). 
 (c) The term “Incumbent Board” means those
individuals who, as of January 1, 2007, constitute the Board, provided that: 
 (1) any individual
who becomes a director of the Company subsequent to such date whose election, or nomination for election by the Company’s stockholders, was approved either by the vote of at least a majority of the directors then comprising the Incumbent Board
or by the vote of at least a majority of the combined voting power of the Outstanding Company Voting Securities held by the Exempt Persons shall be deemed to have been a member of the Incumbent Board; and 

(2) no individual who was initially elected as a director of the Company as a result of an actual or threatened
solicitation by a Person other than the Board or the Exempt Persons for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or
consents by or on behalf of any Person other than the Board or the Exempt Persons shall be deemed to have been a member of the Incumbent Board. 

SECTION 8. NO EMPLOYMENT AND RETENTION RIGHTS OF PARTICIPANTS 
 Nothing in this RSP or in any grant of Restricted Stock shall interfere with or limit in any way the right of the Company to terminate any Key Employee’s or Participant’s employment at any time,
or confer upon any Key Employee or Participant any right to continue in the employ of the Company or its subsidiaries. Establishment of, or participation in, the RSP shall not be construed to give any Eligible Director the right to be retained as a
member of the Board. 
 SECTION 9. STOCKHOLDER APPROVAL, AMENDMENT AND TERMINATION 

9.1 Amendment This RSP may be amended at any time by the Committee or the Board; provided that no such amendment shall permit the
granting of Restricted Stock to anyone other than as provided in Section 3 hereof, or increase the maximum number of shares of stock that may be granted pursuant to this RSP except pursuant to Section 4.3 hereof, without the further
approval of the Company’s stockholders. In addition, the approval of the Board is required to amend Section 6.1(b). 

9.2 Termination The Company reserves the right to terminate the RSP at any time by action of the Committee or the Board.

 9.3 Existing Restrictions Neither amendment nor termination of this RSP shall adversely

  
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affect any shares previously granted or issued pursuant to this RSP. 

9.4 Stockholder Adoption The RSP was approved by the stockholders of the Company on November 13, 2006 and became effective on
November 16, 2006. 

  
 11Form of 2011 Restricted Stock/Performance Shares Agreement

 EXHIBIT 10.1 
 Form Restricted Stock Agreement 
 3-Year Cliff and Performance Vesting

 Non-California and Non-Attorneys 

 

 

 Career Education Corporation 
 2008 Incentive Compensation Plan 
 Cover Page to Restricted Stock
Agreement 
 (The Restricted Stock Agreement is attached hereto) 

Pursuant and subject to the Career Education Corporation 2008 Incentive Compensation Plan (the “Plan”) and the attached Restricted Stock
Agreement, the Committee has awarded the Grantee named below shares of restricted common stock of Career Education Corporation (“Restricted Shares”) as follows: 

 

			
	 Name of Grantee:
	 	INSERT NAME
	 Grant Date:
	 	March 3, 2010

Total Number of Restricted Shares Granted and 
 Available for Vesting Under This Award: A 
  

			
	Understanding This Award
	
Time-Vesting Shares
	    	B
	
Performance- and Time-Vesting Shares
	    	C
	
Restricted Shares Available for Vesting
	    	A

 By executing below, the Grantee hereby acknowledges, (1) receipt of a true copy of the Restricted Stock Agreement; (2) that the Grantee has read the Restricted Stock Agreement and the Plan
carefully, and fully understands their contents; (3) that the Grantee accepts the award of Restricted Shares; and (4) the Grantee agrees to be bound by the terms and conditions of the Restricted Stock Agreement and the Plan. Grantee
further acknowledges and understands that the Restricted Shares that are Performance-Vesting are issued on the Grant Date at the maximum number of Restricted Shares that would vest if Maximum Performance is met. 

IN WITNESS WHEREOF, as of the Grant Date the Company and the Grantee hereby agree to be bound by the terms and conditions of the Restricted Stock
Agreement and the Plan. 
  

											
	CAREER EDUCATION CORPORATION	  		  	GRANTEE	  	
	By:	 	 /s/ Gary E. McCullough
	  		  	By:	 	  
	  	
	Gary E. McCullough	  		  		 		  	
	President & Chief Executive Officer	  		  		 		  	

 Please sign and return your signed copy of this cover page to the Restricted Stock Agreement
by April     , 2011, to                     at CEC corporate via pdf, fax or inter-office mail
(                    ). Failure to do so will result in forfeiture of the award. Please retain a copy of this signed cover page;
the remainder of the Restricted Stock Agreement is for your records and does not need to be returned. 

 2011 Form Restricted Stock Agreement 

3-Year Cliff and Performance Vesting 
 Non-California and Non-Attorneys 
  

 CAREER EDUCATION CORPORATION 

2008 INCENTIVE COMPENSATION PLAN 
 RESTRICTED STOCK AGREEMENT 
 In accordance with and subject to the terms of
the Career Education Corporation 2008 Incentive Compensation Plan (the “Plan”) and this Agreement, the Committee granted to the person named as grantee (the “Grantee”), on the cover page attached to this Restricted
Stock Agreement (the “Cover Page”) an award of shares of Restricted Shares of the Career Education Corporation (the “Company”) (the Cover Page and this Restricted Stock Agreement hereinafter referred to as the
“Agreement”). 
 To evidence such award and to set forth its terms, the Company and the Grantee agree as
follows. All capitalized terms not otherwise defined in the Agreement shall have the meaning set forth in the Plan. 
 1. Grant of Restricted
Shares. Subject to and upon the terms and conditions set forth in this Agreement and the Plan, the Committee granted to the Grantee the number of shares of Restricted Shares set forth on the Cover Page (the “Restricted Shares”),
effective as of the grant date set forth on the Cover Page (the “Grant Date”), and the Grantee hereby accepts the grant of the Restricted Shares on a restricted basis, as set forth herein. 

2. Limitations on Transferability. At any time prior to vesting in accordance with Paragraph 3 or 4, the Restricted Shares, or any interest
therein, cannot be directly or indirectly transferred, sold, assigned, pledged, hypothecated, encumbered or otherwise disposed. 
 3. Dates
of Vesting. Subject to the provisions of Paragraphs 4 and 5 of this Agreement, the Restricted Shares shall cease to be restricted and shall become non-forfeitable (thereafter being referred to as “Vested Shares”) on the dates
(each, a “Vesting Date”) as follows: 
 (a) the portion of the Restricted Shares designated as
“Time-Vesting Shares” on the Cover Page (“Time-Vesting Shares”) shall become Vested Shares on the third anniversary of the Grant Date. 
 (b) provided that the performance criteria specified on Exhibit A hereto have been satisfied, the portion of the Restricted Shares designated as “Performance- and Time-Vesting Shares” on the
Cover Page (“Performance-Vesting Shares”) shall become Vested Shares as of the third anniversary of the Grant Date, but only to the extent and in the proportion that such performance criteria have been satisfied as determined in the
sole and complete discretion of the Compensation Committee as described below. 
 Notwithstanding the foregoing, and subject to
Paragraphs 4 and 5 below, in the event that the Grantee incurs a Termination of Service prior to any Vesting Date, any Restricted Shares that were unvested at the date of such Termination of Service shall be immediately forfeited to the
Company.
 Any shares of Performance-Vesting Shares that do not become Vested Shares on the third anniversary of the Grant Date
as a result of a failure to fully satisfy the applicable performance criteria shall be forfeited to the Company. The Committee shall have full discretion and authority to determine whether and to what extent such performance criteria have been
satisfied, and the determination of the Committee shall be final and binding on the Grantee, the 

  
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 2011 Form Restricted Stock Agreement 

3-Year Cliff and Performance Vesting 
 Non-California and Non-Attorneys 
  

 
Company and all other interested persons. In addition, notwithstanding the fact that the performance criteria may otherwise be fully satisfied, to the extent determined by the Committee in its
sole and complete discretion, the number of Performance-Vesting Shares that are to become vested on the Vesting Date may be reduced by the Committee. Any such reduction shall occur during the period between January 1, 2012 and March 31,
2012. Any Performance-Vesting Shares which will not become vested pursuant to this paragraph shall be forfeited to the Company at the time of the relevant determination by the Committee. Nothing in this paragraph shall affect the requirement that
the Grantee remain employed by the Company as of the Vesting Date (subject to Paragraphs 4 and 5 below). 
 4. Termination of Service.
Subject to Paragraph 5 below, the provisions of this Paragraph 4 shall apply in the event the Grantee incurs a Termination of Service at any time prior to the applicable Vesting Date set forth in Paragraph 3: 

(a) If the Grantee incurs a Termination of Service because of his or her death or Disability, any then outstanding Restricted Shares that
had not become Vested Shares prior to the date of the Termination of Service shall become Vested Shares, and the Grantee shall immediately own the Vested Shares free of all restrictions otherwise imposed by this Agreement except for Vested Shares
used to satisfy the tax withholding obligations set forth in Section 25 of this Agreement or otherwise required by any taxing authority. 
 (b) To the extent the Grantee incurs a Termination of Service for any reason other than his or her death or Disability, any then outstanding Restricted Shares that had not become Vested Shares prior to
the date of the Termination of Service shall be immediately forfeited to the Company. 
 5. Change in Control. Upon a Change in Control,
the Grantee will have such rights with respect to the then outstanding Restricted Shares as are provided for in the Plan. 

6. Stock Issuance, Restrictions and Escrow. The Company, in its sole discretion, shall either (a) credit the
Restricted Shares to the Grantee in a book entry on the records kept by the Company’s stockholder record keeper, or (b) cause to be issued certificates for Restricted Shares. To the extent the Restricted Shares are credited pursuant to
clause (a) of the preceding sentence, then any outstanding Restricted Shares shall be subject to restrictions on transfer until, and to the extent, such Restricted Shares become Vested Shares pursuant to Paragraph 3, 4 or 5 above. To the
extent certificates for the Restricted Shares are issued pursuant to clause (b) above, such certificates shall be held in escrow by the Company until, and to the extent, such Restricted Shares shall become Vested Shares pursuant to Paragraph 3,
4 or 5 above. To the extent any such Restricted Shares fail to become Vested Shares pursuant to Paragraph 3, 4 or 5 above, the Company shall cancel any portion of the Restricted Shares forfeited by the Grantee pursuant to the terms of the Plan
or this Agreement. The Company shall release the restrictions upon the remaining Vested Shares in the book entry records, or release the related certificates, together with any assets or securities held in escrow hereunder, from escrow, as
applicable, in each case resulting in the release of any Vested Shares to the Grantee. 
 7. Liability of Company. The inability of the
Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and transfer of any Shares pursuant to this Agreement shall relieve the Company of any liability with respect to the
non-issuance or transfer of the Shares as to which such approval shall not have been obtained. However, the Company shall use its best efforts to obtain all such approvals. 

  
 3 

 2011 Form Restricted Stock Agreement 

3-Year Cliff and Performance Vesting 
 Non-California and Non-Attorneys 
  

 8. Adjustment in Restricted Shares. The Committee may make or provide for such adjustments as
provided for in Section 4.2 of the Plan. 
 9. Plan Amendment. No discontinuation, modification, or amendment of the Plan may,
without the written consent of the Grantee, adversely affect the rights of the Grantee under this Agreement, except as otherwise provided under the Plan. This Agreement may be amended as provided under the Plan, but no such amendment shall adversely
affect the Grantee’s rights under the Agreement without the Grantee’s written consent, unless otherwise permitted by the Plan. 
 10.
Stockholder Rights. The Grantee shall be entitled to receive any dividends that become payable on or after the Grant Date with respect to the Restricted Shares and Vested Shares; provided, however, that no dividends shall be
payable (a) with respect to the Restricted Shares on account of record dates occurring prior to the Grant Date, and (b) with respect to forfeited Restricted Shares on account of record dates occurring on or after the date of such
forfeiture. The Grantee shall be entitled to vote the Restricted Shares on or after the Grant Date to the same extent as would have been applicable to the Grantee if the Restricted Shares had then been Vested Shares; provided, however,
that the Grantee shall not be entitled to vote (a) the Restricted Shares on account of record dates occurring prior to the Grant Date, and (b) with respect to forfeited Restricted Shares on account of record dates occurring on or after the
date of such forfeiture. 
 11. Employment Rights. This Agreement is not a contract of employment, and the terms of employment of the
Grantee or other relationship of the Grantee with the Company shall not be affected in any way by this Agreement except as specifically provided herein. The execution of this Agreement shall not be construed as conferring any legal rights upon the
Grantee for a continuation of an employment or other relationship with the Company, nor shall it interfere with the right of the Company to discharge the Grantee and to treat him or her without regard to the effect which such treatment might have
upon him or her as a Grantee. 
 12. Disclosure Rights. Except as required by applicable law, the Company (or any of its affiliates)
shall not have any duty or obligation to disclose affirmatively to a record or beneficial holder of Common Stock, Restricted Shares or Vested Shares, and such holder shall have no right to be advised of, any material information regarding the
Company at any time prior to, upon or in connection with receipt of the Shares. 
 13. Governing Law. The interpretation, performance and
enforcement of this Agreement shall be governed by and enforced in accordance with the laws of the State of Delaware (other than its laws respecting choice of law). 
 14. Compliance with Laws and Regulations. Notwithstanding anything herein to the contrary, the Company shall not be obligated to either (a) cause to be issued or delivered any
certificates for Restricted Shares or Vested Shares, or (b) credit a book entry related to the Restricted Shares or Vested Shares to be entered on the records of the Company’s stockholder record keeper, unless and until the Company is
advised by its counsel that such issuance and delivery of such certificates or entry on the records, as applicable, is in compliance with all applicable laws, regulations of governmental authority, and the requirements of any exchange upon which
Shares are traded. The Company may require, as a condition of such issuance and 

  
 4 

 2011 Form Restricted Stock Agreement 

3-Year Cliff and Performance Vesting 
 Non-California and Non-Attorneys 
  

 
delivery of such certificates or entry on the records, as applicable, and in order to ensure compliance with such laws, regulations and requirements, that the Grantee make such covenants,
agreements, and representations as the Company, in its sole discretion, considers necessary or desirable. 
 15. Successors and Assigns.
Except as otherwise expressly set forth in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the succeeding administrators, heirs and legal representatives of the Grantee and the successors and
assigns of the Company. 
 16. No Limitation on Rights of the Company. This Agreement shall not in any way affect the right of the
Company to adjust, reclassify, reorganize or otherwise make changes in its capital or business structure, or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. 

17. Notices. Any communication or notice required or permitted to be given hereunder shall be in writing, and, if to the Company, to its principal
place of business, attention: Secretary, and, if to the Grantee, to the address appearing on the records of the Company. Such communication or notice shall be delivered personally or sent by certified, registered, or express mail, postage prepaid,
return receipt requested, or by a reputable overnight delivery service. Any such notice shall be deemed given when received by the intended recipient. Notwithstanding the foregoing, any notice required or permitted hereunder from the Company to the
Grantee may be made by electronic means, including by electronic mail to the Company-maintained electronic mailbox of the Grantee, and the Grantee hereby consents to receive such notice by electronic delivery. To the extent permitted in an
electronically delivered notice described in the previous sentence, the Grantee shall be permitted to respond to such notice or communication by way of a responsive electronic communication, including by electronic mail. 

18. Construction. Notwithstanding any other provision of this Agreement, this Agreement is made and the Shares are granted pursuant to the Plan
and are in all respects limited by and subject to the express provisions of the Plan, as amended from time to time. To the extent any provision of this Agreement is inconsistent or in conflict with any term or provision of the Plan, the Plan shall
govern. The interpretation and construction by the Committee of the Plan, this Agreement and any such rules and regulations adopted by the Committee for purposes of administering the Plan, shall be final and binding upon the Grantee and all other
persons. 
 19. Entire Agreement. This Agreement, together with the Plan, constitute the entire obligation of the parties hereto with
respect to the subject matter hereof and shall supersede any prior expressions of intent or understanding with respect to this transaction. 

20. Amendment. Any amendment to this Agreement shall be in writing and signed by the Company and the Grantee. 

21. Waiver; Cumulative Rights. The failure or delay of either party to require performance by the other party of any provision hereof shall not
affect its right to require performance of such provision unless and until such performance has been waived in writing. Each and every right hereunder is cumulative and may be exercised in part or in whole from time to time. 

22. Counterparts. This Agreement may be signed in two counterparts, each of which shall be an original, but both of which shall constitute but one
and the same instrument. 

  
 5 

 2011 Form Restricted Stock Agreement 

3-Year Cliff and Performance Vesting 
 Non-California and Non-Attorneys 
  

 23. Headings. The headings contained in this Agreement are for reference purposes only and shall
not affect the meaning or interpretation of this Agreement. 
 24. Severability. If any provision of this Agreement shall for any reason
be held to be invalid or unenforceable, such invalidity or unenforceability shall not effect any other provision hereof, and this Agreement shall be construed as if such invalid or unenforceable provision were omitted. 

25. Tax Consequences. The Grantee acknowledges and agrees that the Grantee is responsible for all taxes and tax consequences with respect to the
grant of the Restricted Shares or the lapse of restrictions otherwise imposed by this Agreement. The Grantee further acknowledges that it is the Grantee’s responsibility to obtain any advice that the Grantee deems necessary or appropriate with
respect to any and all tax matters that may exist as a result of the grant of the Restricted Shares or the lapse of restrictions otherwise imposed by this Agreement. Notwithstanding any other provision of this Agreement, the Restricted Shares,
together with any other assets or securities held in escrow hereunder, shall not be released to the Grantee unless, as provided in Section 17 of the Plan, the Grantee shall have paid to the Company, or made arrangements satisfactory to the
Company regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to the grant of the Restricted Shares or the lapse of restrictions otherwise imposed by this Agreement. 

26. Receipt of Plan. The Grantee acknowledges receipt of a copy of the Plan, and represents that the Grantee is familiar with the terms and
provisions thereof, and hereby accepts the Restricted Shares subject to all the terms and provisions of this Agreement and of the Plan. The Shares are granted pursuant to the terms of the Plan, the terms of which are incorporated herein by
reference, and the Restricted Shares shall in all respects be interpreted in accordance with the Plan. The Committee shall interpret and construe the Plan and this Agreement, and its interpretation and determination shall be conclusive and binding
upon the parties hereto and any other person claiming an interest hereunder, with respect to any issue arising hereunder or thereunder. 
 27.
Restrictive Covenants. In consideration of receiving the Restricted Shares hereunder, and as a term and condition of the Grantee’s employment with the Company, the Grantee agrees to adhere to, and be bound by, the following restrictions.
The Grantee hereby acknowledges that the Grantee’s job responsibilities give the Grantee access to confidential and proprietary information belonging to the Company and/or its subsidiaries, and that this and other confidential information to
which the Grantee has access would be of value, and provide an unfair advantage, to a competitor in competing against the Company or its subsidiaries in any of the markets in which the Company or its subsidiaries maintains schools, provides on-line
education classes or otherwise conducts business. The Grantee further acknowledges that the following restrictions will not cause the Grantee undue hardship. Consequently, the Grantee agrees that the restrictions below (the “Restrictive
Covenants”) are reasonable and necessary to protect the Company’s and/or its subsidiaries’ legitimate business interests. 

During the Grantee’s employment with the Company and/or any of its subsidiaries and continuing thereafter for the post-termination periods specified
below, the Grantee will not, in any way, directly or indirectly, either for the Grantee or any other person or entity, whether paid or unpaid: 

  
 6 

 2011 Form Restricted Stock Agreement 

3-Year Cliff and Performance Vesting 
 Non-California and Non-Attorneys 
  

 (a) For
[            (__)] months following Grantee’s voluntary resignation from Grantee’s employment with the Company or Grantee’s termination from employment by the
Company for Cause, accept employment with, own, manage, operate, consult or provide expert services to any person or entity that competes with the Company or any of its subsidiaries in any capacity that involves any responsibilities or activities
involving or relating to any Competing Educational Service, as defined herein. “Competing Educational Service” means any educational service that competes with the educational services provided by the Company and/or any of its
subsidiaries, including but not limited to coursework in the areas of visual communication and design technologies; information technology; business studies; culinary arts; and health education, or any education service. The Grantee hereby
acknowledges that the following organizations, among others, provide Competing Educational Services and, should the Grantee accept employment with, own, manage, operate, consult or provide expert services to any of these organizations, it would
inevitably require the use and/or disclosure of confidential information belonging to the Company and/or its subsidiaries and would provide such organizations with an unfair business advantage over the Company: DeVry Inc., Kaplan, Inc.,
Apollo Group Inc., Education Management LLC, Embanet Corporation, Capella Education Company, ITT Educational Services, Inc., Corinthian Colleges, Inc., Laureate Education, Inc. and Strayer Education, Inc. and each of their respective subsidiaries,
affiliates and successors. The Grantee further acknowledges that the Company and/or its subsidiaries provide career-oriented education through physical and web-based virtual campuses throughout the world and, therefore, it is impracticable to
identify a limited, specific geographical scope for this Restrictive Covenant. For avoidance of doubt, in the event the Grantee is involuntarily terminated from employment with the Company other than for Cause, the Grantee will not be subject to any
post-termination noncompete restriction under this clause Section 27(a). 
 (b) For twelve (12) months following
Grantee’s termination of employment with the Company for any reason, solicit, attempt to solicit, assist with the solicitation of, direct another to solicit, or otherwise entice any employee of the Company or any of its subsidiaries to leave
his/her employment. 
 Should the Grantee breach the terms of these Restrictive Covenants, the Company reserves the right to enforce the terms
herein in court and seek any and all remedies available to it in equity and law, and the Grantee agrees to pay the Company’s attorneys’ fees and costs should it succeed on its claim(s). Further, should the Grantee breach the terms of these
Restrictive Covenants, the Grantee will forfeit any right to the Restricted Shares received hereunder, subject to the terms and conditions of the applicable Plan, and the Grantee agrees to pay the Company’s attorneys’ fees and costs
incurred in recovering such Restricted Shares. 
 It is the intention of the Grantee and the Company that in the event any of the covenants
contained in these Restrictive Covenants are determined to be unreasonable and/or unenforceable with respect to scope, time or geographical coverage, the Grantee and the Company agree that such covenants may be modified and narrowed by a court, so
as to provide the maximum legally enforceable protection of the Company’s and any of its subsidiaries’ interests as described in this Agreement. 
 28. Condition to Return Signed Agreement. This Agreement shall be null and void unless the Grantee signs, dates, and returns this Agreement to the Company on or before April
    , 2011. 
 IN WITNESS WHEREOF, the parties hereto have acknowledged their rights and
obligations under this Agreement as of the Grant Date, by signing the Cover Page. 

  
 7 

 Exhibit A 
 Performance Criteria 
 So long as the Company achieves Operating Income for 2011 of at
least $50,000,000.00, then one hundred percent the Performance-Vesting Shares shall be eligible to become Vested Shares, subject to Paragraph 3 of the Agreement. For this purpose, “Operating Income” means the aggregate of (a) the
earnings of the Company as reported on the Company’s Form 10-K for the year ending on December 31, 2011 (which is prepared in accordance with the generally accepted accounting principles of the U.S), and (b) the amounts paid
pursuant to the Career Education Corporation 2011 Annual Incentive Award Program and the 2011 Annual Incentive Award Program for Key Executives, each of which has been established under the Plan. 

  
 8

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