SEC Contract Filing

Filing Date: 2019-10-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>dex101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="sbc18793a99384078b9aee5b77f89dbc6"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:18px;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Exhibit 10.1</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#ff0000;">CERTAIN CONFIDENTIAL INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. SUCH OMITTED INFORMATION IS MARKED WITH "[***]"</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">FIRST AMENDMENT TO</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">TRANSITION AND OPERATIONS SUPPORT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">This First Amendment (this &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">First</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Amendment</font><font style="font-family:Arial;font-size:10pt;">&#8221;), is made and entered into as of July 29, 2019 by and among Kaplan Higher Education, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">KHE</font><font style="font-family:Arial;font-size:10pt;">&#8221;), Iowa College Acquisition, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">ICA</font><font style="font-family:Arial;font-size:10pt;">&#8221;) (KHE and ICA, collectively, &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Contributor</font><font style="font-family:Arial;font-size:10pt;">&#8221;), and Purdue University Global, Inc., an Indiana nonprofit public benefit corporation (&#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">New University</font><font style="font-family:Arial;font-size:10pt;">&#8221;) for the purpose of amending and clarifying that certain Transition and Operations Support Agreement dated March 22, 2018 by and among the Parties (the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">TOSA</font><font style="font-family:Arial;font-size:10pt;">&#8221;). The Trustees of Purdue University, an Indiana body corporate that manages and conducts Purdue University, the State of Indiana&#8217;s land-grant university (&#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Purdue</font><font style="font-family:Arial;font-size:10pt;">&#8221;), joins as a Party to this First Amendment solely for the purpose of continuing to be bound by the Purdue Provisions in the TOSA, as amended hereby. Capitalized terms used but not otherwise defined herein have the meanings ascribed to them in the TOSA.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">RECITALS:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:Arial;font-size:10pt;">A.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Parties successfully closed the transactions contemplated by the Transfer Agreement concurrently with their execution and delivery of the TOSA on the Effective Date, with the effect that New University formally commenced operations shortly thereafter.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:Arial;font-size:10pt;">B.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">As memorialized in the TOSA&#8217;s recitals and as reflected in its terms, the TOSA and the Transfer Agreement provided financial guarantees and priority payments to New University that entailed significant economic risk to Contributor.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:Arial;font-size:10pt;">C.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Aria