0001193125-12-075664 Sample Contracts

CAPELLA EDUCATION COMPANY Non-Statutory Stock Option Agreement (16(b) Officer) (for use commencing in 2012)
Stock Option Agreement • February 23rd, 2012 • Capella Education Co • Services-educational services • Minnesota

This is a Non-Statutory Stock Option Agreement (“Agreement”) between Capella Education Company, a Minnesota corporation (the “Company”), and the optionee identified above (the “Optionee”) effective as of the date of grant specified above. To the extent any capitalized terms used in this Agreement are not defined, they shall have the meaning ascribed to them in the Company’s 2005 Stock Incentive Plan (the “Plan”).

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CAPELLA EDUCATION COMPANY Restricted Stock Unit Agreement (Non-Employee Director) (for use commencing in 2012)
Restricted Stock Unit Agreement • February 23rd, 2012 • Capella Education Co • Services-educational services • Minnesota

This is a Restricted Stock Unit Agreement (“Agreement”) between Capella Education Company, a Minnesota corporation (the “Company”), and the recipient identified above (the “Recipient”) effective as of the date of grant specified above. To the extent any capitalized terms used in this Agreement are not defined, they shall have the meaning ascribed to them in the Company’s 2005 Stock Incentive Plan (the “Plan”).

CAPELLA EDUCATION COMPANY Restricted Stock Unit Agreement (16(b) Officer) (for use commencing in 2012)
Restricted Stock Unit Agreement • February 23rd, 2012 • Capella Education Co • Services-educational services • Minnesota

This is a Restricted Stock Unit Agreement (“Agreement”) between Capella Education Company, a Minnesota corporation (the “Company”), and the recipient identified above (the “Recipient”) effective as of the date of grant specified above. To the extent any capitalized terms used in this Agreement are not defined, they shall have the meaning ascribed to them in the Company’s 2005 Stock Incentive Plan (the “Plan”).

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