LINCOLN EDUCATIONAL SERVICES CORPORATION (NASDAQ:LINC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On January 22, 2018, Deborah Ramentol, Senior Group President of Lincoln Educational Services Corporation (the “Company”) notified the Company of her intention to retire from the Company on February 1, 2018. The Company and Ms. Ramentol have entered into a Separation and Release Agreement (the “Separation Agreement”) that sets forth the retirement compensation and benefits Ms. Ramentol is to receive from the Company.

The Separation Agreement indicates that Ms. Ramentol’s last day of employment with the Company will be February 1, 2018. The Separation Agreement provides, among other things, that, in consideration for a release of claims, the Company will pay Ms. Ramentol a lump sum cash payment of $284,387.25, subject to withholding, and a lump sum, if any,annual bonus for 2017, payable on the date that bonuses for 2017 are paid generally to the Company’s senior executives. In addition, to the Separation Agreement, the Company will pay the employer-portion of the monthly premiums due for continuation of medical, dental and vision plan coverage for Ms. Ramentol and her family under COBRA through January 31, 2019. The Separation Agreement further provides that 50,000 shares of restricted stock awarded by the Company to Ms. Ramentol will become fully vested on the effective date of Ms. Ramentol’s retirement from the Company.

The description of the Separation Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

LINCOLN EDUCATIONAL SERVICES CORP ExhibitEX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 SEPARATION AND RELEASE AGREEMENT THIS SEPARATION AND RELEASE AGREEMENT (“Agreement”) is made between Deborah M. Ramentol (“Employee” or “you”) and Lincoln Educational Services Corporation (“Company”). WHEREAS,…To view the full exhibit click here
About LINCOLN EDUCATIONAL SERVICES CORPORATION (NASDAQ:LINC)
Lincoln Educational Services Corporation is a provider of post-secondary education. The Company operates in two segments: Transportation and Skilled Trades, and Transitional. The Transportation and Skilled Trades segment offers academic programs in the disciplines of transportation and skilled trades (automotive, diesel, heating, ventilation and air conditioning (HVAC), welding and manufacturing). The Transitional segment includes operations that are being phased out and consists of its campus that is being taught out. It offers programs in automotive technology, skilled trades, which include HVAC, welding and computerized numerical control and electronic systems technology; healthcare services, which include nursing, dental assistant and pharmacy technician; hospitality services, which include culinary, therapeutic massage, cosmetology and aesthetics, and business and information technology, which includes information technology and criminal justice programs.