Document:

Separation Agreement and General Release

 Exhibit 10.1 
 SEPARATION AGREEMENT AND GENERAL RELEASE 
 This Separation Agreement
and General Release (“Agreement”) is made and entered into by and between Deborah Lenart (the “Executive”) and Career Education Corporation, a Delaware corporation (the “Company”). 

1. Separation and Effective Dates: The Executive’s employment with the Company and, to the extent applicable, with its direct and
indirect subsidiaries, affiliates, companies, divisions, units, schools, and affiliated schools (the “Company Affiliates”), terminates effective November 5, 2010 (the “Separation Date”). Executive agrees that Executive will
tender her resignation, effective as of the Separation Date, from any officer and/or director positions held with any subsidiary companies, affiliates as well as from the governing boards of American InterContinental University and Colorado
Technical University. The Executive understands and agrees that from and after the Separation Date, she is no longer authorized to incur any expenses, obligations or liabilities on behalf of the Company or the Company Affiliates. This Agreement
shall not become effective or enforceable until all parties have signed an original of this Agreement and the revocation period referenced in Paragraph 18 has expired. 
 2. No Claims: The Executive represents and agrees that she has not filed any notices, claims, complaints, charges, or lawsuits of any kind whatsoever against the Releasees (as defined in
Paragraph 11) with any court, any governmental agency, any regulatory body or any other third party with respect to any matter related to the Company, a Company Affiliate or a Releasee, or arising out of her employment with and/or separation from
the Company. 
 3. Payment of Moneys Owed: The Executive and the Company acknowledge that the Company has paid, or will pay no
later than November 15, 2010, all remuneration owed to the Executive as a result of her employment with and separation from the Company, related to (a) her salary through the Separation Date, (b) all accrued (but unused) vacation pay
for 2010 through the Separation Date, and (c) all business expenses, if any, incurred by her through the Separation Date as a result of her employment with the Company, provided that such expenses are authorized under and consistent with the
expense reimbursement policies of the Company. Except as specifically provided for in this Paragraph 3 and in Paragraphs 6 and 9, the Executive shall not be entitled to receive any compensation or benefits of employment from the Company or any
Company Affiliate following the Separation Date. 
 4. Non-Admission of Liability and Acknowledgement of Compliance: This
Agreement and the fact that it was offered are not and shall not in any way be construed as admissions by the Company that it violated any federal, state or local law, statute or regulation, or that it acted wrongfully with respect to the Executive
or to any other person or entity in any manner. The Company specifically disclaims any liability to or wrongful acts against the Executive or any other person or entity. Further, the Executive acknowledges and agrees that it is the policy of the
Company to comply with all applicable federal, state and local laws and regulations. The Executive affirms that she has reported all compliance issues and violations of federal, state and local laws or regulations or Company policy of which she had
knowledge during the term of her employment, if any. The Executive represents and acknowledges that she has no further or additional knowledge or information regarding compliance issues or possible violations of federal, state or local laws or
regulations or Company policy other than what the Executive has previously raised, if any. 

 5. Non-Admissibility: Neither this Agreement nor anything in this Agreement shall be construed
to be or shall be admissible in any proceeding as evidence of or an admission by the Company or the Executive of any violation of any state, federal or local laws or regulations or any rules, regulations, criteria or standards of any regulatory
body. This Agreement may be introduced, however, in any proceeding to enforce the Agreement. 
 6. Consideration: In exchange for
the promises and agreements made by the Executive contained in this Agreement and in satisfaction of the terms of the Career Education Corporation Executive Severance Plan, and in addition to the benefits provided there under, the Company will
(a) within ten (10) days following the date this Agreement may no longer be revoked by the Executive as described in Paragraph 18 of this Agreement (and provided that this Agreement has not been revoked), but not before January 3,
20100, pay to the Executive a lump-sum payment of $462,769.23 (which amount is equal to sixty-four weeks of pay calculated based on the Executive’s base salary as of the Separation Date), less all applicable taxes and other withholdings;
(b) pay to the Executive a lump-sum bonus payment of a gross amount of $225,000.00, which amount is equal to 100% of Executive’s 2010 target bonus amount, less all applicable taxes and other withholdings, paid in accordance with the normal
procedures at the time such payments are made to Employees of the Company, but not later than March 15, 2011, (c) if the Executive is currently a participant in the Company health and/or dental insurance plan(s) and the Executive timely
elects to continue insurance coverage under federal COBRA law, the Company will partially subsidize such COBRA coverage such that the Executive will only pay the same cost that similarly situated active employees of the Company pay for such
insurance coverage for the following month(s): December 2010 through May 2012; (d) pay for one year of access to executive-level outplacement services to be provided to the Executive by an organization selected by the Executive and agreed to by
the Company, which amount will be paid directly to the outplacement services provider (provided such amount shall not exceed $75,000.00); and (e) each option to purchase shares of the Company issued to the Executive under
the Company’s 1998 Employee Incentive Compensation Plan and the Company’s 2008 Incentive Compensation Plan (collectively, the “Option Plans”), which was vested prior to the Separation Date, or which
became vested as of the Separation Date pursuant to the terms of the Options Plans and the relevant option agreements entered into pursuant thereto or pursuant to the Option and Restricted Stock Amendment Agreement,
dated as of February 20, 2009, by and between the Executive and the Company, shall remain outstanding and exercisable until the earlier to occur of (i) the tenth anniversary of the grant date of such option, or (ii) the
first anniversary of the date this Agreement is executed (as set forth on the signature page attached hereto). 
 The Executive
acknowledges that the monies and benefits set forth in this Paragraph 6 constitute additional consideration above and beyond anything to which the Executive is already entitled, in exchange for Executive’s execution of this Agreement.

 For purposes of clarification, pursuant to that certain Option and Restricted Stock Amendment Agreement, dated as of
February 20, 2009, by and between the Executive and the Company, effective as of the Separation Date: (A) all unvested Options (as defined in the Career Education Corporation 1998 Employee Incentive Compensation Plan (the “1998
Plan”) held by the Executive under the 1998 Plan became one hundred percent (100%) vested, and (B) shares of Restricted Stock (as defined in the 1998 Plan) held by the Executive under the 1998 Plan became fully vested.

  
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 7. No Disparagement or Encouragement of Claims: The Executive agrees that Executive
will not, nor will she cause anyone else to, make any statement or issue any communication, written or otherwise, that disparages, criticizes or otherwise reflects adversely on or encourages any adverse action against the Company, any Company
Affiliate or any Releasee (as defined in Paragraph 11), to either the press, the media or any other third party, except if testifying truthfully under oath pursuant to any lawful court order or subpoena or otherwise responding to or providing
disclosures required by law. The Company similarly agrees that its officers and directors will not, nor will they cause anyone else to, make any statement or issue any communication, written or otherwise, that disparages, criticizes or otherwise
reflects adversely on or encourages any adverse action against the Executive to either the press, the media or any third party, except if testifying truthfully under oath pursuant to lawful court order or subpoena or otherwise responding to or
providing disclosures required by law. 
 8. Non-Competition, Non-Solicitation and Confidential Information. 

8.1 Confidential Information and Protection of Confidential Information. The Executive acknowledges that, throughout and as
an incident to her employment with the Company, the Executive has become acquainted with and received Confidential Information relating to the Company, including trade secrets, processes, methods of operation, business models and plans, advertising
and marketing plans and strategies, Company records, research techniques and results, academic programs, academic course development, methods of instruction, training programs, computer programs, databases, software codes, systems and models,
marketing, promotional and sales programs, and financial information concerning the business of the Company, which information is not readily available to the public and gives the Company an opportunity to gain an advantage over competitors who do
not know or use this information in the same manner as the Company, and which the Company regards as confidential and proprietary (collectively “Confidential Information”). Such Confidential Information includes, but is not limited to:
(i) information relating to the Company’s past and existing students and vendors and the development of prospective students and vendors, including, but not limited to, specific student service and product requirements, pricing,
arrangements, payment terms, student lists and other similar information; (ii) inventions, designs, methods, discoveries, works of authorship, creations, improvements or ideas developed or otherwise produced, acquired or used by the Company;
(iii) advertising and marking plans and strategies; (iv) the Company’s proprietary programs, processes or software; (v) the subject matter of any patents, design patents, copyrights, trade secrets, trademarks, service marks,
trade names, trade dress, manuals, operating instructions, training materials, and other industrial property; and (vi) other confidential and proprietary information or documents relating to the Company or its students or vendors which the
Company reasonably regards as being confidential. Confidential Information does not include: (a) information known in general to the Executive’s profession, or that becomes known thereafter, other than by an unauthorized act of the
Executive; (b) information that was lawfully in the Executive’s possession before her employment with the Company; or (c) information obtained lawfully and in good faith from another party after such disclosure emanating from an
original source other than the Company. 

  
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 The Executive acknowledges that the Confidential Information is of incalculable value to the
Company and is the exclusive property of the Company, and that the Company would suffer irreparable damage if any of the Confidential Information is improperly disclosed or used. Accordingly, the Executive will not, at any time during
Executive’s employment with, or after the Executive’s separation from employment with, the Company, reveal, divulge, or make known to any person, firm or corporation any Confidential Information made known to the Executive or of which the
Executive has become aware, regardless of whether developed, prepared, devised, or otherwise created in whole or in part by the efforts of the Executive. The Executive further agrees that she will retain all Confidential Information in trust for the
sole benefit of the Company, and will not divulge or deliver any Confidential Information to any unauthorized person including, without limitation, any other employer of the Executive except as required by the order of any court or similar tribunal
or any other governmental body or agency of appropriate jurisdiction; provided, that the Executive will, to the extent practicable, give the Company prior written notice of any such disclosure and will cooperate with the Company in obtaining
a protective order or such similar protection as the Company may deem appropriate to preserve the confidential nature of such information. The foregoing obligations to maintain the Confidential Information shall not apply to any Confidential
Information that is, or without any action by the Executive becomes, generally available to the public. 
 8.2
Non-Competition. Commencing on the Separation Date and for fifty-two (52) weeks thereafter, the Executive shall not, in any way, directly or indirectly, either for the Executive or any other person or entity, whether paid or
unpaid, 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 Executive hereby acknowledges that
the following organizations, among others, provide Competing Educational Services, and should the Executive accept employment with, own, manage, operate, consult or provide expert services to any of these organizations within said 52-week period, 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 Executive 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 Paragraph 8.2. Nothing herein shall prevent the Executive from owning less than two percent (2%) of the capital stock of a company whose stock is publicly traded and that
is engaged in Competing Educational Services. 
 8.3 Non-Solicitation/Non-Hire. Commencing on the Separation Date
and for eighteen (18) months thereafter, the Executive will not, directly or indirectly, individually or on behalf of any Person (as defined below) (a) hire, solicit, aid or induce any then-current employee of the Company or Company
Affiliates to leave the Company or Company Affiliates to accept employment with or render services for the Executive or such Person, or (b) solicit, aid or induce 

  
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any then-current student, customer, client, vendor, lender, supplier or sales representative of the Company or Company Affiliates or similar persons engaged in business with the Company or
Company Affiliates to discontinue the relationship or reduce the amount of business done with the Company or Company Affiliates. “Person” means any individual, a partnership, a corporation, an association, a limited liability company, a
joint stock company, a trust, a joint venture, an unincorporated organization, a governmental entity, or any department, agency or political subdivision thereof, or an accrediting body. 

8.4 Acknowledgements. The Executive fully understands the nature and burdens of this Paragraph 8. The Executive
acknowledges that the provisions of this Paragraph 8 are fair, reasonable, and not excessively broad, that they are necessary to protect important and legitimate business interests of the Company, Company Affiliates and each school, and that in
light of the Executive’s education, experience, and capabilities, the Executive can honor all parts of this Paragraph 8 without being prevented from earning a fully adequate livelihood for the Executive and the Executive’s dependents from
now throughout any period during which the Executive’s activities are restricted hereunder. The Executive agrees that the covenants in this Paragraph 8 are in addition to any common law, statutory or contractual obligations of the Executive.

 8.5 Remedies and Enforcement. The Executive acknowledges that a breach on her part of the terms of the
Restrictive Covenants set forth in this Paragraph 8 will cause irreparable damage to the Company and that monetary damages will not provide an adequate remedy to the Company. Accordingly, the Executive agrees that the Company will be entitled to
enforce the terms herein in court and seek any and all remedies available to it in equity and law, including, but not limited to, injunctive relief, without the posting of any bond or other security. The parties agree that the prevailing party in
any action related to enforcement of such Restrictive Covenants shall be entitled to reimbursement from the non-prevailing party for attorneys fees and costs incurred related to such action. The Executive further acknowledges and agrees that in the
event any of the Restrictive Covenants contained in this Paragraph 8, or any part thereof, hereafter is construed to be illegal, invalid or unenforceable, the same shall not affect the remainder of such covenant or any other covenants. The Executive
and the Company expressly empower a court of competent jurisdiction to modify any Restrictive Covenant in this Paragraph 8 to the extent necessary to make it legal, valid, and enforceable. 
 9. Indemnity and Cooperation: In the event of a lawsuit or claim by a third party in which the Executive is sued either jointly or separately for acts arising out of the scope of the
Executive’s employment with the Company, the Company agrees to defend the Executive and hold the Executive harmless in accordance with the Executive’s rights to indemnification under the Company’s certificate of incorporation or
bylaws of the Company or any existing Indemnification Agreement between the Executive and the Company. In turn, in the event of any pending or threatened legal action against the Company or the Company Affiliates or Releasees relating to events
which occurred during the Executive’s employment, the Executive acknowledges and agrees that she will cooperate to the fullest extent possible in the investigation, preparation, prosecution, or defense of the Company’s or the Company
Affiliate’s case, including, but not limited to, the execution of affidavits or documents or providing of information requested by the Company or the Company’s counsel. Reasonable out-of-pocket expenses related to such assistance will be
reimbursed by the Company, if the Company’s written approval is obtained in advance. In addition, the Executive will be compensated by the Company for her time, at the rate of $100/hour, when requested by the Company to prepare to provide
testimony or spend time assisting the Company in any of the foregoing activities or with such matters. The Executive will not, however, be compensated for the time she spends 

  
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providing testimony. Nothing in this Paragraph should be construed as suggesting or implying that the Executive should testify in any way other than truthfully or provide anything other than
accurate, truthful information. The Executive further agrees to provide truthful and timely answers to any reasonable questions the Company may have from time to time about the work the Executive performed during her employment. A failure on the
part of the Executive to reasonably cooperate with the Company shall constitute and be treated as a material breach of this Agreement. Any amount paid to the Executive pursuant to this Paragraph 9 for her time shall be paid promptly, and in any
event no later than March 15 of the year following the year in which such services occurred. For purposes of complying with Section 409A, with respect to any reimbursement required to be made pursuant to this Paragraph 9, (i) the
provision of such reimbursements during one calendar year shall not affect the reimbursements made available in a different calendar year, (ii) such reimbursements shall not be subject to liquidation or exchange for other benefits, and
(iii) any reimbursements shall be paid as soon as administratively feasible (or in accordance with the timing prescribed under the applicable Company policy) after the applicable expense is incurred but no later than the last day of the
calendar year following the calendar year in which the applicable expense was incurred. 
 10. Company Property: The Executive
represents, warrants and covenants that the Executive has returned to the Company (or will return to the Company along with the executed Agreement) any and all Company property in the Executive’s possession or control, including, without
limitation, all telephones, keys, access cards, security badges, credit cards, phone cards, equipment, computer hardware and encryption devices (including, but not limited to, all computers, Blackberry devices, and personal data assistants), all
contents of all such hardware, all passwords and codes needed to obtain access to or operate all or part of any such hardware, all electronic storage devices (including but not limited to all hard drives, disk drives, diskettes, CDs, CD-ROMs, DVDs,
and DVD-ROMs), all contents of all such electronic storage devices, all passwords and codes needed to obtain access to or use all or part of any such electronic storage device, all computer software and programs, financial information, accounting
records, computer printouts, manuals, data, materials, papers, books, files, documents, records, policies, student information and lists, customer information and lists, marketing information, specifications and plans, data base information and
lists, mailing lists, and notes, including but not limited to any property describing or containing any Confidential Information, and the Executive agrees that the Executive will not retain any copies, duplicates, reproductions or excerpts thereof
in any form whatsoever. 
 11. General Release, Discharge of All Claims and Agreement Not to Sue: In consideration of the payments
and benefits referred to in Paragraph 6 from the Company to the Executive as set forth herein and other consideration the receipt and sufficiency of which is hereby acknowledged, the Executive, on behalf of herself, her dependents, heirs, executors,
administrators, assigns and successors, and each of them hereby: 
 (a) voluntarily, fully and unconditionally releases and
forever discharges the Company, the Company Affiliates, and associated organizations, past and present, and each of them, as well as its and their trustees, directors, officers, agents, attorneys, employees, contractors, insurers, representatives,
assigns, and successors, past and present, and each of them, (hereinafter “Releasees”), with respect to and from any and all legally waivable claims, wages, demands, rights, liens, agreements, contracts, covenants, actions, suits, causes
of action, obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders, liabilities, complaints, and promises whatsoever, in law or equity, known or unknown, suspected or unsuspected, and whether or not concealed or hidden
(collectively, “Claims”), which she now 

  
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owns or holds or she has at any time heretofore owned or held or may in the future hold as against any or all said Releasees, arising on or before the date this Agreement is executed, including,
but not limited to, any Claims arising out of or in any way connected with her employment with and/or separation from the Company, any Claims arising under the Sarbanes-Oxley Act of 2002, Title VII of the Civil Rights Act of 1964, as amended, the
Civil Rights Act of 1991, the Civil Rights Act of 1866, the Age Discrimination in Employment Act of 1967, as amended (the “ADEA”), the Americans with Disabilities Act, the Family and Medical Leave Act of 1993, the Fair Labor Standards Act,
the False Claims Act, as amended, the Employee Retirement Income Security Act, as amended, Illinois civil rights laws and regulations, Illinois wage/hour laws and regulations, or any other federal, state or local law, regulation, ordinance or public
policy, and any Claims for severance pay, bonus pay, sick leave, holiday pay, vacation pay, life insurance, health, medical or disability insurance or any other fringe benefit or the common law of any state relating to employment contracts, wrongful
discharge, defamation or any other matter; and 
 (b) agrees not to sue any or all of the Releasees with respect to any matter
released or discharged herein, except that the Executive may seek a determination of the validity of the waiver of her rights under the ADEA. Nothing in this Agreement is intended to reflect any party’s belief that the waiver of the
Executive’s claims under the ADEA is invalid or unenforceable, it being the intent of the parties that such claims are waived. 
 12.
Exclusions from General Release and Discharge. Notwithstanding the above, the Executive does not release and discharge (a) any right to continue her group health insurance coverage pursuant to applicable law; (b) any vested
benefits in the Company’s employee benefit, retirement and stock/option plans; (c) any claim for breach of this Agreement; and (d) any claim that cannot be released by law, including but not limited to the right to file a charge with
or participate in an investigation by the Equal Employment Opportunity Commission (“EEOC”). The Executive does, however, hereby waive any right to recover any money should the EEOC or any other agency or individual pursue any claims on her
behalf. 
 13. Obligations Regarding Section 16 Reporting. The Executive understands that the Company will file on
November 9, 2010 a Form 4 reporting transactions for her outstanding equity awards under the Company’s equity incentive plans, and agrees that with respect to any such Form 4 or Form 5 filing made on her behalf, regardless of whether it is
made with or without her review, (1) she is fully responsible for such filing and the contents of such Form, and (2) neither the Company nor its Insider Trading Compliance Officer (nor any of its or his designees, representative, agents or
legal counsel) will have any responsibility or liability with respect to such filing or the contents of such Form. The Executive understands and agrees that other than the Form 4 filing on November 9, 2010, the Company will not undertake to
file any additional Forms 4 or 5 or other reports with the Securities and Exchange Commission on her behalf. The Executive further understands and agrees that all responsibility for Section 16 compliance under the Securities Exchange Act of
1934 is her own and that neither the Company nor the Insider Trading Compliance Officer (nor any of its or his designees, representatives, agents or legal counsel) will have any responsibility or liability with respect to any failure to file (or
delinquent filing of) a Form 4 or 5, any violation of Section 16(a) of the Securities Exchange Act of 1934 or any “short swing profits” under Section 16(b) of that Act. 
 14. No Representation: The Executive agrees and acknowledges that in executing this Agreement she does not rely and has not relied on any representation or statement by any of the Releasees
or by any of the Releasees’ agents, representatives or attorneys with regard to the subject matter, basis or effect of this Agreement. 

  
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 15. No Assignment: The Executive represents that she has not heretofore assigned or
transferred, or purported to assign or transfer, to any person or entity, any claim or any portion thereof or interest therein, and the Executive agrees to indemnify, defend and hold harmless each and all of the Releasees against any and all
disputes based on, arising out of, or in connection with any such transfer or assignment, or purported transfer or assignment, of any claims or any portion thereof or interest therein. 
 16. Severability: If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can
be given their intended effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. If, however, a court of competent jurisdiction finds that any release by the Executive in
Paragraph 11 above is illegal, void, or unenforceable, the Executive will promptly sign a release, waiver, and/or agreement that is legal and enforceable to the greatest extent permitted by law. 

17. No Continuing Relationship: The Executive and the Company acknowledge that any employment, contractual or other relationship between
the Executive and the Company terminated as of the Separation Date and that they have no further employment, contractual or other relationship except as may arise out of this Agreement. The Executive waives any right or claim to reinstatement as an
employee of the Company, and will not seek employment, an independent contractor relationship or any relationship in the future with the Company. 
 18. Voluntary Execution of Agreement and Consultation with Counsel: The Executive is hereby advised to consult with an attorney prior to executing this Agreement. The Executive represents,
warrants and agrees that she has carefully read the Agreement and understands its meaning and has had the opportunity to seek independent legal advice from an attorney of her choice with respect to the advisability of this Agreement and is signing
this Agreement, knowingly, voluntarily and without any coercion or duress. The Executive further acknowledges that she has been given a period of twenty-one (21) days within which to consider whether to sign this Agreement. The Executive may
execute this Agreement at any time within the twenty-one day period and by doing so The Executive waives any right to the remaining days. 
 19.
Revocability of Agreement: The Executive has the right to revoke this Agreement, solely with respect to her release of claims under the Age Discrimination in Employment Act and the Older Workers Benefit Protection Act, for up to seven
(7) days after the Executive signs it. In order to revoke this Agreement, the Executive must sign and send a written notice of the decision to do so, following the notice provisions set forth in Paragraph 20, below, which must be received no
later than the eighth day after the Executive executes the Agreement. If the Executive revokes this Agreement, the Executive will not be entitled to the consideration from the Company described herein. 

  
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 20. Notice: All notices, requests, demands and other communications hereunder to either party
shall be in writing and shall be delivered, either by hand, by facsimile, by overnight courier or by certified mail, return receipt requested, duly addressed as indicated below or to such changed address as the party may subsequently designate:

 To the Company: 
 Senior Vice President of Human Resources 
 Career Education Corporation 

2895 Greenspoint Parkway – Suite 600 
 Hoffman Estates, Illinois 60169 
 Fax: 847-585-2641 

To the Executive: 
 Deborah Lenart 
  
  

21. Governing Law: This Agreement is made and entered into in the State of Illinois and shall be interpreted, enforced and governed under
Illinois law, without regard to its conflict of laws principles. 
 22. Unemployment: The Company shall accurately report that
Executive’s employment terminated pursuant to the elimination of Executive’s position. 
 23. Binding Effect: This
Agreement shall be binding upon and inure to the benefit of the Executive and the Company (and Releasees) and each party’s respective heirs, representatives, executors, administrators, successors and assigns. 

24. No Presumption: This Agreement shall be construed and interpreted as if all of its language were prepared jointly by the Executive and
the Company. No language in this Agreement shall be construed against a party on the ground that such party drafted or proposed that language. 

25. Violation of Agreement. If the Executive or the Company prevails in a legal or equitable action claiming that the other party has
breached this Agreement, the prevailing party shall be entitled to recover from the other party the reasonable attorneys’ fees and costs incurred by the prevailing party in connection with such action. 

26. Execution of Counterparts: This Agreement may be executed in counterparts, but shall be construed as if signed in one document.
Facsimile or electronically transmitted signatures shall be given the same force and effect as original signatures with the parties to provide original signatures as soon as practicable. 
 27. Entire Agreement: This Agreement constitutes and contains the entire agreement and understanding concerning the Executive’s employment with and separation from the Company and the
other subject matters addressed herein between the parties, and supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matters hereof, except for the parties’
agreements relating to indemnification, trade secrets, confidential and proprietary information, copyrights, and the like, if any, which shall remain in force and effect in accordance with the terms thereof. The

  
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Executive represents and agrees that no promises, statements or inducements have been made to her which caused her to sign this Agreement other than those which are expressly stated in this
Agreement. This is an integrated document and may not be altered except by written agreement signed by an officer designated by the Company, and the Executive. 
 I have carefully read the entire Agreement and accept and agree to the provisions it contains and hereby execute it voluntarily and with full understanding of its consequences. 

Executed this     22d     day of
    December            , 2010. 
  

							
	 	 	 	 	 /s/ Deborah Lenart

	 	 	 	 	 Deborah Lenart

			
		 		 	CAREER EDUCATION CORPORATION
				
	DATED: December 28, 2010	 		 	By:	 	 /s/Gary E. McCullough

		 		 	Name:	 	Gary E. McCullough
		 		 	Title:	 	President and Chief Executive Officer

  
 10Consent and Amendment No. 3 to Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 CONSENT AND AMENDMENT NO. 3 

TO CREDIT AGREEMENT 
 THIS CONSENT AND AMENDMENT NO. 3 TO CREDIT AGREEMENT (this “Amendment”), dated as of December 31, 2010, is made by and among Great Lakes Dredge & Dock Corporation (the
“Borrower”), the other “Loan Parties” from time to time party to the Credit Agreement referred to and defined below (together with the Borrower, the “Loan Parties”), the Lenders (as defined below)
signatory hereto and Bank of America, N.A. (successor by merger to LaSalle Bank National Association) as Swing Line Lender, Issuing Lender and Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized terms
used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement referred to and defined below. 
 W I T N E S S E T H: 
 WHEREAS, the Borrower, the other Loan
Parties, the financial institutions from time to time party thereto (collectively, the “Lenders”), the Administrative Agent and the Issuing Lender have entered into that certain Credit Agreement, dated as of June 12, 2007 (as
amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), pursuant to which, among other things, the Lenders have agreed to provide, subject to the terms and conditions contained
therein, certain loans and other financial accommodations to the Borrower; 
 WHEREAS, Great Lakes desires to
acquire all or substantially all of the assets of L.W. Matteson, Inc. (the “Target”) (such transaction, the “Matteson Acquisition”) for an aggregate purchase price (the “Purchase Price”) not
exceeding (a) $49,500,000, as adjusted up or down based on a customary net working capital adjustment, plus (b) the assumption by Great Lakes of certain business related liabilities (excluding any funded indebtedness), plus
(c) earnout payments based on the acquired business’ EBITDA performance following the consummation of the Matteson Acquisition (the “Earnout Payments”), with a portion of the Purchase Price being paid by the issuance of a
promissory note by Great Lakes in favor of the seller in an amount not exceeding $7,500,000 (the “Seller Note”), which Seller Note may be secured by certain of the assets being acquired by Great Lakes in the Matteson Acquisition;

 WHEREAS, as the Purchase Price would exceed the limitation set forth in Section 6.2(b)(v) of the
Credit Agreement upon the aggregate consideration payable by the Borrower and its Subsidiaries with respect to Permitted Business Acquisitions, Sections 6.2(a) and 6.2(b) of the Credit Agreement would prohibit Great Lakes’ ability
to consummate the Matteson Acquisition without the prior written consent of the Majority Lenders; 
 WHEREAS,
the Borrower has requested that the Majority Lenders, and subject to the terms and conditions set forth herein, the Majority Lenders have agreed, to (a) consent to the consummation of the Matteson Acquisition and (b) amend certain
provisions of the Credit Agreement; 

 NOW, THEREFORE, in consideration of the foregoing premises, the terms and
conditions stated herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Borrower, the other Loan Parties, the Majority Lenders and the Administrative Agent, such parties hereby agree as follows:

 1.        Consent. Subject to the satisfaction of each of the
conditions set forth in Sections 3 and 4 of this Amendment, and notwithstanding any noncompliance with Sections 6.2(a) or 6.2(b) resulting from the Purchase Price exceeding the limitation set forth in
Section 6.2(b)(v), the Majority Lenders hereby (a) consent to the consummation of the Matteson Acquisition and (b) agree that (i) the Matteson Acquisition shall be deemed to be an acquisition permitted under
Section 6.2(b)(v) of the Credit Agreement for all purposes under the Credit Agreement, (ii) the Purchase Price paid in connection with the Matteson Acquisition shall not constitute utilization of the aggregate consideration
permitted under Section 6.2(b)(v) of the Credit Agreement, and (iii) the Debt incurred by Great Lakes pursuant to the Seller Note and the Earnout Payments are permitted under Section 6.2(i)(v) of the Credit Agreement.

 2.        Amendments to Credit Agreement. Subject to the
satisfaction of each of the conditions set forth in Section 3 of this Amendment, the Credit Agreement is hereby amended as follows: 
 (a)      Section 5.1(x) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

  (x)        Obligations and Guaranties
“Senior Debt” under Note Indenture. The Obligations and the Guaranties constitute “Senior Debt” as defined in the Note Indenture and, to the extent the Note Indenture Obligations with respect to any Permitted Note Refinancing
are subordinated in right of payment to any of the Obligations and Guaranties, all of the Obligations and the Guaranties constitute “Senior Debt” (or senior Debt defined pursuant to a substantially similar term) with respect to such
Permitted Note Refinancing. 
 (b)      Section 6.2(e) of the
Credit Agreement is hereby amended by amending and restating clause (E) appearing in Section in its entirety as follows: 
   (E)        the Bonding Agreement, the Wells Fargo Documents, the Intercreditor Agreement, the Note Indenture and any agreement, document or
instrument evidencing or governing any Permitted Note Refinancing; 

(c)      Section 7.1(d) of the Credit Agreement is hereby amended by adding
the following provision immediately after the phrase “an “Event of Default” shall have occurred under and as defined in Section 6.01 of the Note Indenture” appearing in such Section: 

“(or an event of default shall have occurred with respect to any Permitted Note Refinancing);”

 (d)      Section 7.1(i) of the Credit Agreement is hereby
amended by adding the following provision immediately after the phrase “, or the subordination provisions of the Note Indenture shall fail to be in full force and effect” appearing in such Section: 

“(or, to the extent the Note Indenture Obligations with respect to any Permitted Note Refinancing are
subordinated in right of payment to any of the Obligations and Guaranties, the subordination provisions with respect to such Permitted Note Refinancing shall fail to be in full force and effect), except to the extent the Note Indenture (or the
agreement governing such Permitted Note Refinancing) is terminated upon payment in full of the Debt thereunder.” 

  
 2 

 (e)      Section 7.1(j)(iv) of
the Credit Agreement is hereby amended and restated in its entirety as follows: 

  (iv) any “Change of Control” (or any similar or comparable definition or
provision) occurs under any agreement governing Note Indenture Obligations. 

(f)      Schedule I of the Credit Agreement is hereby amended by amending and
restating the definition of “Note Indenture Obligations” appearing in such Schedule in its entirety as follows: 
   “Note Indenture Obligations” means all of (a) the Borrower’s obligations under and with respect to the Note Indenture, including, without limitation, all
obligations to pay principal in an aggregate principal amount not to exceed $175,000,000 under its 7-3/4% Senior Subordinated Notes due 2013, and all interest, premium, fees, charges, expenses and indemnities with respect thereto, and all
obligations to effect redemptions, repurchases and prepayments with respect thereto, in any case, whether fixed, contingent, matured or unmatured, and (b) the Borrower’s obligations under and with respect to such other unsecured Debt the
net proceeds of which are, in whole or in part, designated to be used, and are used reasonably promptly after the incurrence thereof, to refinance in whole or in part the then existing Note Indenture Obligations (including any subsequent refinancing
thereof from time to time which constitutes a Permitted Note Refinancing); provided, that (i) the aggregate principal amount of such refinancing Debt and any remaining Debt under the Note Indenture (and any Permitted Note Refinancing
thereof) does not exceed $300,000,000, (ii) immediately after giving effect to the incurrence of such refinancing Debt and the application of proceeds thereof, the Borrower and its Subsidiaries will be in pro forma compliance (giving effect to
such refinancing as if it occurred as of the first day of the relevant period of calculation) with each financial covenant ratio set forth in Sections 6.3(a) and (b) as of the most recently ended Fiscal Quarter for which financial
statements (and the related compliance certificate) have been delivered pursuant to Section 6.4 (it being understood and agreed that the Borrower shall provide a certification of such pro forma compliance but shall not be required to
provide a detailed compliance certificate showing the calculation thereof), (iii) such refinancing Debt has a final maturity more than 180 days after the Revolving Commitment Termination Date and requires no

  
 3 

 
scheduled payment of principal in cash prior to such date, and (iv) the terms of such refinancing Debt, including the covenants, events of default and other terms and provisions (including
quantities thereof), are reasonably acceptable to the Administrative Agent, such acceptance not to be unreasonably withheld so long as such terms are no more restrictive, when taken as a whole, to the Borrower and its Subsidiaries than are
(x) in the case of any public issuance (including through a 144A or other similar issuance) of Debt by the Borrower, customary at the time of such refinancing of such type for issuers with a debt rating similar to that of the Borrower and
(y) in the case of any private issuance of Debt by the Borrower, as set forth in the Note Indenture (any such refinancing as described in this clause (b), a “Permitted Note Refinancing”). 

3.        Effectiveness of this Amendment; Conditions
Precedent.   The provisions of Section 2 of this Amendment shall be deemed to have become effective as of the date first written above (the “Effective Date”), but such effectiveness shall be expressly
conditioned upon the Administrative Agent’s receipt of each of the following, in each case, in form and substance reasonably acceptable to the Administrative Agent: 

(a)       counterparts of this Amendment executed by Authorized Officers of the
Borrower, the other Loan Parties and the Majority Lenders; and 

(b)       for the account of each Lender executing and delivering a counterpart
signature page to this Amendment before 12:00 p.m. (Chicago time) on December 31, 2010 (collectively, the “Consenting Lenders”), payment in full from the Borrower, in immediately available funds, of an amendment fee in an
amount equal to 0.05% of such Consenting Lender’s Revolving Commitment. 

4.        Acquisition Consent Conditions.    The
provisions of Section 1 of this Amendment shall be deemed to have become effective upon the satisfaction of each of the conditions set forth in Section 3 of this Amendment and the Administrative Agent’s receipt of each
of the following, in each case in form, substance and scope reasonably acceptable to the Administrative Agent: 

(a)       a copy of the final, fully-executed, asset purchase agreement for the
Matteson Acquisition and each material agreement, document or instrument delivered in connection therewith; and 
 (b)       a certificate of a responsible officer of the Borrower certifying that, as of a date of the consummation of the Matteson Acquisition, both immediately prior to
and after giving effect to the consummation thereof, (i) no Default or Event of Default has occurred and is continuing (ii) the Borrower and its Subsidiaries will be in pro forma compliance (giving effect to the Matteson Acquisition and
the incurrence of the Debt pursuant to the Seller Note, in each case as if such transactions occurred as of the first date of the relevant period of calculation) with each financial covenant ratio set forth in Sections 6.3(a) and
(b) of the Credit Agreement as of the most recently ended Fiscal Quarter for which financial statements (and the related compliance certificate) have been delivered pursuant to Section 6.4 of the Credit

  
 4 

 
Agreement after adjusting each such ratio to be 0.25 to 1.00 more restrictive as of the end of such Fiscal Quarter, and (iii) the amount of the aggregate Available Revolving Commitments is
not less than $15,000,000. 
 5.        Representations, Warranties
and Covenants. 
 (a)      The Borrower and each other Loan Party hereby
represents and warrants that this Amendment and the Credit Agreement as amended hereby (collectively, the “Amendment Documents”) constitute legal, valid and binding obligations of the Borrower and the other Loan Parties enforceable
against the Borrower and the other Loan Parties in accordance with their terms. 

(b)      The Borrower and each other Loan Party hereby represents and warrants that its
execution and delivery of this Amendment, and the performance of the Amendment Documents, have been duly authorized by all proper corporate or limited liability company action, do not violate any provision of its organizational documents, will not
violate any law, regulation, court order or writ applicable to it, and will not require the approval or consent of any governmental agency, or of any other third party under the terms of any contract or agreement to which it or any of its Affiliates
is bound (which has not been previously obtained), including without limitation, the Note Indenture, the Bonding Agreement and the Wells Fargo Documents. 
 (c)      The Borrower and each other Loan Party hereby represents and warrants that, both before and after giving effect to the provisions of this Amendment, (i) no
Default or Event of Default has occurred and is continuing or will have occurred and be continuing and (ii) all of the representations and warranties of the Borrower and each other Loan Party contained in the Credit Agreement and in each other
Loan Document (other than representations and warranties which, in accordance with their express terms, are made only as of an earlier specified date) are, and will be, true and correct as of the date of its execution and delivery hereof or thereof
in all material respects as though made on and as of such date. 

6.        Reaffirmation, Ratification and
Acknowledgment.    The Borrower and each other Loan Party hereby (a) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, and each grant of security interests and liens in favor
of the Administrative Agent, under each Loan Document to which it is a party, (b) agrees and acknowledges that such ratification and reaffirmation is not a condition to the continued effectiveness of such Loan Documents and (c) agrees that
neither such ratification and reaffirmation, nor the Administrative Agent’s, or any Lender’s solicitation of such ratification and reaffirmation, constitutes a course of dealing giving rise to any obligation or condition requiring a
similar or any other ratification or reaffirmation from the Borrower or such other Loan Parties with respect to any subsequent modifications to the Credit Agreement or the other Loan Documents. As modified hereby, the Credit Agreement is in all
respects ratified and confirmed, and the Credit Agreement as modified by this Amendment shall be read, taken and so construed as one and the same instrument. Each of the Loan Documents shall remain in full force and effect and are hereby ratified
and confirmed. Neither the execution, delivery nor effectiveness of this Amendment shall operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, or of any Default or Event of Default (whether or not

  
 5 

 
known to the Administrative Agent or the Lenders), under any of the Loan Documents. From and after the effectiveness of this Amendment, (x) each reference in the Credit Agreement to
“this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby and (y) all references to the Credit Agreement appearing
in any other Loan Document, or any other document, instrument or agreement executed and/or delivered in connection therewith, shall mean and be a reference to the Credit Agreement, as amended hereby. 

7.        Governing Law.    THIS AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ITS CONFLICTS OF LAW PRINCIPLES (OTHER THAN THE PROVISIONS OF 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

8.        Administrative Agent’s
Expenses.      The Borrower hereby agrees to promptly reimburse the Administrative Agent for all of the reasonable out-of-pocket expenses, including, without limitation, attorneys’ and paralegals’ fees, it
has heretofore or hereafter incurred or incurs in connection with the preparation, negotiation and execution of this Amendment and the other documents, agreements and instruments contemplated hereby. 

9.        Counterparts. This Amendment may be executed in counterparts,
each of which shall be an original and all of which when together shall constitute one and the same agreement among the parties. Delivery of any executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging
shall be effective as delivery of a manually executed counterpart hereof. 
 * * * * 

  
 6 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and
year first above written. 
  

			
	GREAT LAKES DREDGE & DOCK CORPORATION
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 President and Chief Financial
Officer

			
	
	GREAT LAKES CARIBBEAN DREDGING, INC.

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 President and Chief Financial
Officer

			
	
	GREAT LAKES DREDGE & DOCK COMPANY, LLC

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 President and Chief Financial
Officer

			
	
	DAWSON MARINE SERVICES COMPANY

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 President and Chief Financial
Officer

			
	
	NASDI HOLDINGS CORPORATION

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 Vice President, Chief Financial 

		 	Officer and Treasurer

Signature Page to 
 Consent and Amendment No. 3 to Credit Agreement 

  

			
	NASDI, LLC

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 Vice President and
Treasurer

			
	
	FIFTY-THREE DREDGING CORPORATION

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	
Treasurer

			
	
	YANKEE ENVIRONMENTAL SERVICES, LLC

			
		
	By:	 	 /s/ Bruce J.
Biemeck

			
	Name:	 	 Bruce J.
Biemeck

			
	Title:	 	 Vice President, Chief Financial

		 	Officer and Treasurer

  

			
	BANK OF AMERICA, N.A. (successor by merger to LaSalle Bank National Association), as Administrative
Agent

			
		
	By:	 	 /s/ Bozena
Janociak

			
	Name:	 	 Bozena
Janociak

			
	Title:	 	 Assistant Vice President

  

			
	BANK OF AMERICA, N.A. (successor by merger to LaSalle Bank National Association), as a
Lender

			
		
	By:	 	 /s/ Jonathan M.
Phillips

			
	Name:	 	 Jonathan M.
Phillips

			
	Title:	 	 Senior Vice President

  

			
	GENERAL ELECTRIC CAPITAL CORPORATION, as a Lender

			
		
	By:	 	 /s/ Danuta
Buellesbach

			
	Name:	 	 Danuta
Buellesbach

			
	Title:	 	 Duly Authorized Signatory

  

			
	FIFTH THIRD BANK, as a Lender

			
		
	By:	 	 /s/ Neil G.
Mesch

			
	Name:	 	 Neil G.
Mesch

			
	Title:	 	 Vice President

  

			
	PNC BANK, NATIONAL ASSOCIATION (successor to National City Bank), as a
Lender

			
		
	By:	 	 /s/ Jon R.
Hinard

			
	Name:	 	 Jon R.
Hinard

			
	Title:	 	 Senior Vice President

  

			
	RBS CITIZENS, N.A. (successor by merger to Charter One Bank), as a Lender

			
		
	By:	 	 /s/ M. James Barry,
III

			
	Name:	 	 M. James Barry,
III

			
	Title:	 	 Vice President

  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

			
		
	By:	 	 /s/ Sushim R.
Shah

			
	Name:	 	 Sushim R.
Shah

			
	Title:	 	 Vice President

  

			
	MB FINANCIAL BANK, as a Lender

			
		
	By:	 	 /s/ Henry
Wessel

			
	Name:	 	 Henry
Wessel

			
	Title:	 	 Vice President

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