Document:

EX-10.1

 Exhibit 10.1 

August     , 2017 
 Private &
Confidential 
 [Name] 
 [Address] 

[Address] 

Re:         Transaction Bonus Award Agreement  

Dear [            ]: 

On behalf of The Advisory Board Company (the “Company”), I am pleased to inform you that, pursuant to the terms of this
letter agreement (the “Award Agreement”), you are eligible to receive a transaction bonus in the form of a cash payment pursuant to the terms set forth herein (the “Transaction Bonus”). This Transaction Bonus is
intended to recognize your ongoing contributions toward, and ensure your continued best efforts to ensure optimal corporate performance through, the consummation of the transactions contemplated by the Stock and Asset Purchase Agreement, dated
[●] [●], 2017, by and between the Company, Avatar Holdco, LLC and Avatar Purchaser, Inc. (collectively, “Education Buyer”), pursuant to which the Company will sell its education business to Education Buyer (the
“Education Transaction”) and the Agreement and Plan of Merger, dated [●] [●], 2017, by and between the Company, OptumInsight, Inc., a Delaware corporation (“OptumInsight”), and Apollo Merger Sub, Inc., a
Delaware corporation and a wholly owned subsidiary of OptumInsight, pursuant to which OptumInsight will acquire the Company’s health care business (the “Merger”). 

Accordingly, in consideration of the mutual promises and covenants hereinafter set forth, it is hereby agreed as follows: 

1. Transaction Bonus. You will be eligible to receive a Transaction Bonus equal to
[$            ] on the closing date of the Merger (the “Vesting Date”), subject to your continued employment with the Company or Education Buyer, as applicable, through the
Vesting Date. To the extent earned, the Transaction Bonus will be payable, less applicable withholding taxes, as soon as practicable following the Vesting Date and, in any event, no later than five (5) business days thereafter. 

2. Circumstances under which the Transaction Bonus Will Not be Paid. If your employment with the Company or Education Buyer, as
applicable, terminates for any reason prior to the Vesting Date, you will not receive the Transaction Bonus; provided, that if you become employed by Education Buyer or an affiliate thereof in connection with the Education Transaction, you
will not be considered to have terminated employment with the Company for the purposes of the Transaction Bonus. In addition, this Award Agreement will terminate and be of no further force and effect, and no Transaction Bonus will be payable
hereunder, if the (i) Board of Directors of the Company determines that the Merger will not be consummated or (ii) Vesting Date does not occur prior to December 31, 2018. 

3. Acknowledgements. By executing this Award Agreement, you hereby agree to maintain the confidentiality of this Award Agreement and to
refrain from disclosing or making reference to its terms, except (i) as required by law, (ii) with your accountant or attorney for the sole purposes of obtaining, respectively, financial or legal advice, or (iii) with your immediate
family members (the parties in clauses (ii) and (iii), “Permissible Parties”); provided, the Permissible Parties agree to keep the terms and existence of this Award Agreement confidential. 

 4. Section 280G. Notwithstanding anything in this Award Agreement to the contrary, in
the event that any payment or benefit received or to be received by you, whether pursuant to the terms of this Award Agreement or any other plan, arrangement or agreement (all such payments and benefits being hereinafter referred to as the
“Total Payments”) would be subject, in whole or in part, to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), then the Total Payments will be reduced, but only to the extent that you
would retain a greater amount on an after-tax basis than you would retain absent such reduction, such that the value of the Total Payments that you are entitled to receive will be $1 less than the maximum amount which you may receive without
becoming subject to the Excise Tax. 
 5. No Right of Employment. Neither this Award Agreement, nor any modification thereof, nor the
creation of any fund, trust or account, nor the payment of any benefits shall be construed as giving you, or any person whomsoever, the right to be retained in the service of the Company or its subsidiaries. Except to the extent provided under an
employment agreement with the Company, your employment with the Company is “at-will,” meaning that either you or the Company may terminate your employment at any time and for any reason. 

6. Counterparts. This Award Agreement may be signed in counterparts, each of which will be deemed to be an original but all of which
together will constitute one and the same instrument. 

  
 2 

 We are pleased to be able to provide you with this incentive and look forward to your active
participation during this important time for the Company. If you accept the terms and conditions of this Award Agreement, please sign one of the two enclosed copies and return it to the undersigned. 

 

					
	Yours sincerely,	 		 	
			
	[Name]	 		 	
	[Title]	 		 	
			
	  
	 		 	

  

											
	ACKNOWLEDGED AND AGREED:	  		  		  	

  

											
	Signature:	  	  
	  		  	Date:EX-10.2

 Exhibit 10.2 

AMENDMENT NO. 1 
 TO

 THE ADVISORY BOARD COMPANY 

SENIOR MANAGEMENT SEVERANCE AND CHANGE OF CONTROL PLAN 

WHEREAS, The Advisory Board Company (the “Company”) maintains the Senior Management Severance and Change of Control
Plan (the “Plan”); 
 WHEREAS, Section 7.02 of the Plan provides that the Compensation Committee of the Board
of Directors of the Company (the “Committee”) may amend the plan at any time; 
 WHEREAS, on August 28, 2017,
the Company entered into a Stock and Asset Purchase Agreement with Avatar Holdco, LLC, a Delaware limited liability company (“Education Parent”), and Avatar Purchaser, Inc., a Delaware corporation and wholly owned subsidiary of
Parent (“Education Acquisition Sub”), pursuant to which, among other things, the Company shall sell to Education Acquisition Sub all of the outstanding common stock of Royall Acquisition Sub, a Delaware corporation and a wholly
owned subsidiary of the Company (the “Education Transaction”); and 
 WHEREAS, on August 28, 2017, the Company
entered into an Agreement and Plan of Merger with OptumInsight, Inc., a Delaware corporation and a wholly owned subsidiary of UnitedHealth Group Incorporated (“OptumInsight”), and Apollo Merger Sub, Inc., a Delaware corporation and
a wholly owned subsidiary of OptumInsight (“Merger Sub”), pursuant to which Merger Sub will merge with and into the Company, with the Company surviving as a wholly-owned subsidiary of OptumInsight (the “Merger”).

 NOW, THEREFORE, BE IT RESOLVED, that, pursuant to Section 7.02 of the Plan, the Plan is hereby amended as
follows, effective as of the consummation of the Education Transaction, in respect of those Participants (as defined in the Plan) whose employment transfers to Education Parent or a subsidiary thereof in connection with the transactions contemplated
by the Education Transaction, and, for each other Participant, the Merger (the “Amendment”): 
  

	 	1.	Article II (“Definitions”) is hereby amended to include the following as the last sentence of the definition of Change of Control: 

Notwithstanding anything in this Plan to the contrary, each of the consummation of the Education Transaction and the consummation of the
Merger shall constitute a Change of Control. 
  

	 	2.	Article II (“Definitions”) is hereby amended to include the following definitions: 

“Education Participant” means each Participant whose employment transfers to Education Parent or a subsidiary thereof in
connection with the transactions contemplated by the Education Transaction. 

 “Education Transaction” means the consummation of the transactions contemplated
by the Stock and Asset Purchase Agreement, dated August 28, 2017, by and between the Company, Avatar Holdco, LLC, a Delaware limited liability company (“Education Parent”), and Avatar Purchaser, Inc., a Delaware corporation and
wholly owned subsidiary of Parent (“Education Acquisition Sub”), pursuant to which, among other things, the Company shall sell to Education Acquisition Sub all of the outstanding common stock of Royall Acquisition Sub, a Delaware
corporation and a wholly owned subsidiary of the Company. 
 “Merger” means the consummation of the transactions
contemplated by the Agreement and Plan of Merger, dated August 28, 2017, by and between the Company, OptumInsight, Inc., a Delaware corporation and a wholly owned subsidiary of UnitedHealth Group Incorporated (“OptumInsight”),
and Apollo Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of OptumInsight (“Merger Sub”), pursuant to which Merger Sub will merge with and into the Company, with the Company surviving as a wholly-owned
subsidiary of OptumInsight. 
  

	 	3.	Section 4.01(b) (“Change of Control”) is hereby deleted in its entirety and replaced with the following provision: 

Change of Control. In the event that a Participant incurs a Qualifying Termination during the Covered Period, then, subject to
the execution and nonrevocation of a Release Agreement, as of the date immediately preceding the Qualifying Termination Date, each then-outstanding and unvested equity award (or, in the case of an equity award that was converted into a restricted
cash award, each then-outstanding restricted cash award) that was granted by the Company prior to the consummation of the Education Transaction, in respect of each Education Participant, or the Merger, in respect of each Participant other than an
Education Participant, as applicable, shall vest and become exercisable, as applicable, and, except as provided in Section 4.01(c), any payment in respect of such awards, if applicable, shall be made in a lump sum on the sixty-first
(61st) day following the Qualifying Termination Date; provided, each then-outstanding equity award that vests at least in part based on the achievement of performance metrics shall remain outstanding following the Qualifying Termination
Date and shall vest or be forfeited in accordance with the terms of the applicable award agreement based on the actual level of performance. 
  

	 	4.	Section 7.02 (“Amendment and Termination”) is hereby amended by adding the following as the last sentence of such Section: 

Notwithstanding anything in this Plan to the contrary, the Plan shall terminate as of the date following the first (1st) anniversary of the consummation of the Merger, and the Company and Education Parent (and each of their respective affiliates), shall cease to have any further obligations under the Plan, other
than any unsatisfied obligations in respect of any Qualifying Termination where the Qualifying Termination Date occurs on or prior to the conclusion of the Covered Period. 

	 	5.	Except as amended hereby, the Plan shall remain in full effect. This Amendment shall be of no force or effect in the event that the Education Transaction, in respect of each Education Participant (as defined in the
Plan), or the Merger, in respect of each Participant other than an Education Participant, as applicable, is not consummated.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]