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STRA > SEC Filings for STRA > Form 8-K on 24-Apr-2014All Recent SEC Filings

Show all filings for STRAYER EDUCATION INC

Form 8-K for STRAYER EDUCATION INC


24-Apr-2014

Change in Directors or Principal Officers, Financial Statements and Exhibit


Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Amendment of Employment Agreements of the Executive Chairman and the Chief Executive Officer

On April 24, 2014, Strayer Education, Inc. (the "Company") amended and restated the Employment Agreement of Robert S. Silberman, the Company's Executive Chairman, dated April 6, 2001 and as amended on March 11, 2005 and May 2, 2013. The amended agreement eliminates a modified single trigger change of control termination clause, and replaces the clause with a double trigger change of control termination clause. In addition, the amended agreement eliminates the Company's obligation to gross up any excise taxes upon termination. All other material terms and conditions remained the same.

On April 24, 2014, the Company also amended and restated the Employment Agreement of Karl McDonnell, the Company's Chief Executive Officer, dated May 2, 2013. The amended agreement eliminates a modified single trigger change of control termination clause for cash payments, and replaces the clause with a double trigger change of control termination clause for cash payments. For equity grants, the original Employment Agreement already provided for a double trigger change of control termination clause, which remained the same. All other material terms and conditions remained the same.



Item 9.01. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

The exhibits required by this item are set forth on the Exhibit Index attached hereto.

Exhibit
Number                                 Description
10.1      Amended and Restated Employment Agreement, dated as of April 24, 2014,
          between Strayer Education, Inc. and Robert S. Silberman
10.2      Amended and Restated Employment Agreement, dated as of April 24, 2014,
          between Strayer Education, Inc. and Karl McDonnell


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