Agreement to Defer 2017 Annual Equity Award – Apollo Education Group, Inc. and Gregory W. Cappelli

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement between Apollo Education Group, Inc. and Gregory W. Cappelli allows the company to delay granting Cappelli's 2017 annual equity award due to a potential company transaction. If the transaction does not occur, the award will be granted later in the 2017 fiscal year, at the same time as other executives, and will follow the original vesting schedule. The agreement ensures Cappelli's rights to the award are preserved despite the delay.

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EX-10.55 3 apol-aug312016ex1055.htm EXHIBIT 10.55 Exhibit


Exhibit 10.55



September 13, 2016


Mr. Fred Newton
Apollo Education Group, Inc.
4025 South Riverpoint Parkway
Phoenix, Arizona 85040

Dear Fred:

As we have discussed, my employment agreement provides for an annual equity award for the 2017 fiscal year to be made in August 2016.

Because of the contemplated transaction involving the Company, I agree that this annual equity award may be granted later during the 2017 fiscal year instead of during August 2016. If the transaction does not occur, we have agreed that my annual equity award for the 2017 fiscal year will be granted during the 2017 fiscal year at the same time such awards are made to other executive officers of the Company and with the vesting schedule contemplated by my employment agreement (i.e., 50% vesting in August 2017, 25% vesting in August 2018 and 25% vesting in August 2019).



Sincerely,

/s/ Gregory W. Cappelli  

Gregory W. Cappelli

Accepted and agreed:
 
 
 
 
Apollo Education Group, Inc.

 
 
 
 
By:
/s/ Fred Newton
 
 
 
 
Its:
Senior Vice President, Chief Human Resources Officer
 
 
 
 
Date:
9/13/2016