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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Registration No.&nbsp;333-_______<BR><BR>
</DIV>


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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>EDUCATION MANAGEMENT CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
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    <TD nowrap align="center"><B>Pennsylvania</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>25-1119571</B></TD>
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<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>210 Sixth Avenue<BR>
33rd Floor<BR>
Pittsburgh, Pennsylvania 15222</B><BR>
(Address of principal executive offices)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EDUCATION MANAGEMENT CORPORATION<BR>
OMNIBUS LONG-TERM INCENTIVE PLAN</B><BR>
(Full title of the plan)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>J. Devitt Kramer, Esq.<BR>
Senior Vice President, General Counsel and Secretary<BR>
Education Management Corporation<BR>
210 Sixth Avenue<BR>
33rd Floor<BR>
Pittsburgh, Pennsylvania 15222</B><BR>
(Name and address of agent for service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>(412)&nbsp;562-0900</B><BR>
(Telephone number, including area code, of agent for service)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer or
a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large accelerated
filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the Exchange Act.
(Check one):
</DIV>

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    <TD align="center" valign="top"><FONT style="white-space: nowrap">Large accelerated filer <FONT face="Wingdings">&#111;</FONT> </FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Accelerated filer <FONT face="Wingdings">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top"><FONT style="white-space: nowrap">Non-accelerated filer <FONT face="Wingdings">&#254;</FONT> </FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Smaller reporting company <FONT face="Wingdings">&#111;</FONT></FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">(Do not check if a smaller reporting company)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
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    <TD width="2%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of <BR> securities <BR>  to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to be  <BR> registered</B><SUP style="font-size: 85%; vertical-align: text-top"> 1</SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed  <BR> maximum <BR>  offering price  <BR> per share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed  <BR> maximum  <BR> aggregate  <BR> offering price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of  <BR> registration  <BR> fee</B></TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
     <TD align="left" valign="top" style="border-top: 2px solid #000000">Common Stock, par value $0.01 per  share
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">6,821,012<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$20.00<SUP style="font-size: 85%; vertical-align: text-top">3</SUP>
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$136,420,240<SUP style="font-size: 85%; vertical-align: text-top">3</SUP>
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$7,613</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left:30px; text-indent:-30px"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Registration Statement also registers additional securities to be offered
or issued upon adjustments or changes made to registered securities by reason of any stock splits, stock dividends or similar
transactions as permitted by Rule 416(a) and Rule 416(b) under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left:30px; text-indent:-30px"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Represents 6,379,158 shares of the Registrant&#146;s common stock available for
issuance under the Omnibus Long-Term Incentive Plan and 441,854 shares of the Registrant&#146;s common
stock available for issuance under the Registrant&#146;s 2006 Stock Option Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left:30px; text-indent:-30px"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Estimated solely for the purpose of calculating the registration fee pursuant
to Rule&nbsp;457(h). The fee is based on a price of $20.00 per share, which is the high-point of the
estimated price range per share of the Registrant&#146;s common stock for the Registrant&#146;s initial
public offering of its common stock pursuant to the Registrant&#146;s Registration Statement on Form S-1
(File No.&nbsp;333-141504).
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000"> PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item 3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item 4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item 5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item 6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item 7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item 8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item 9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="l37696exv5w1.htm">EX-5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="l37696exv23w1.htm">EX-23.1</A></TD></TR>
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<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>

<!-- link2 "Item 3. Incorporation of Documents by Reference." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents previously filed by the Registrant with the Securities and Exchange
Commission (the &#147;Commission&#148;) are hereby incorporated by reference into this Registration
Statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s prospectus to be filed pursuant to Rule 424(b) under the Securities Act with
the Commission, relating to the Registration Statement on Form S-1 (File No.&nbsp;333-148259) and which
includes audited financial statements for the Registrant&#146;s latest fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of the Registrant&#146;s common stock contained in the Registration Statement on
Form 8-A (File No.&nbsp;001-34466) filed with the Commission on September&nbsp;22, 2009, pursuant to Section
12(b) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), including any
amendment or report filed for the purposes of updating such description.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant with the Commission pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Exchange Act after the date of this Registration Statement, but prior to the
filing of a post-effective amendment to this Registration Statement which indicates that all
securities offered by this Registration Statement have been sold or which deregisters all such
securities then remaining unsold, shall be deemed to be incorporated by reference into this
Registration Statement. Each document incorporated by reference into this Registration Statement
shall be deemed to be a part of this Registration Statement from the date of filing of such
document with the Commission until the information contained therein is superseded or updated by
any subsequently filed document which is incorporated by reference into this Registration Statement
or by any document which constitutes part of the prospectus relating to the Education Management
Corporation Omnibus Long-Term Incentive Plan meeting the requirements of Section 10(a) of the
Securities Act.
</DIV>
<!-- link2 "Item 4. Description of Securities." -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The class of securities to be offered under this Registration Statement is registered under
Section&nbsp;12 of the Exchange Act.
</DIV>
<!-- link2 "Item 5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item 6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;1741 and 1742 of the Pennsylvania Business Corporation Law (the &#147;PBCL&#148;) provide that
a business corporation shall have the power to indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action or proceeding whether
civil, criminal, administrative or investigative, by reason of the fact that such person is or was
a director, officer, employee or agent of the business corporation or of another domestic or
foreign corporation for profit or not-for-profit, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys&#146; fees), judgments, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with such proceeding, if
such person acted in good faith and in a manner he reasonably believed to be in, or not opposed to,
the best interests of the corporation, and, with respect to any criminal proceeding, has no
reasonable cause to believe his conduct was unlawful. In the case of an action by or in the right
of the corporation, such indemnification is limited to expenses (including attorneys&#146; fees)
actually and reasonably incurred by such person in connection with the defense or settlement of
such action, except that no indemnification shall be made in respect of any claim, issue or matter
as to which such person has been adjudged to be liable to the corporation, unless, and only to the
extent that, a court determines upon application that, despite the adjudication of liability but in
view of all the circumstances, such person is fairly and reasonably entitled to indemnity for the
expenses that the court deems proper.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PBCL Section&nbsp;1744 provides that, unless ordered by a court, any indemnification referred to
above shall be made by the corporation only as authorized in the specific case upon a determination
that indemnification is proper in the circumstances because the director, officer, employee or
agent of the corporation has met the applicable standard of conduct. Such determination shall be
made:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by the Board of Directors by a majority vote of a quorum consisting of
directors who were not parties to the proceeding; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if such a quorum is not obtainable or if obtainable and a majority vote of a
quorum of disinterested directors so directs, by independent legal counsel in a written
opinion; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by the shareholders.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Notwithstanding the above, PBCL Section&nbsp;1743 provides that to the extent that a director, officer,
employee or agent of a business corporation is successful on the merits or otherwise in defense of
any proceeding referred to above as contained in sections 1741 and 1742, or in defense of any claim
therein, such person shall be indemnified against expenses (including attorneys&#146; fees) actually and
reasonably incurred by such person in connection therewith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PBCL Section&nbsp;1745 provides that expenses (including attorneys&#146; fees) incurred by an officer,
director, employee or agent of a business corporation in defending any such proceeding may be paid
by the corporation in advance of the final disposition of the action or proceeding upon receipt of
an undertaking to repay the amount advanced if it is ultimately determined that the director,
officer, employee or agent of the corporation is not entitled to be indemnified by the corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PBCL Section&nbsp;1746 provides that the indemnification and advancement of expenses provided by,
or granted pursuant to, the foregoing provisions is not exclusive of any other rights to which a
person seeking indemnification may be entitled under any bylaw, agreement, vote of shareholders or
disinterested directors or otherwise both as to action in such person&#146;s official capacity and as to
action in another capacity while holding office, and that indemnification may be granted under any
bylaw, agreement, vote of shareholders or directors or otherwise for any action taken whether or
not the corporation would have the power to indemnify the person under any other provision of law
and whether or not the indemnified liability arises or arose from any threatened, pending or
completed action by or in the right of the corporation, provided, however, that no indemnification
may be made in any case where the act or failure to act giving rise to the claim for
indemnification is determined by a court to have constituted willful misconduct or recklessness.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s Amended and Restated Articles of Incorporation and Amended and Restated
Bylaws contain substantially identical provisions regarding indemnification. The Registrant&#146;s
Amended and Restated Articles of Incorporation and Amended and Restated Bylaws require the
Registrant to promptly indemnify, to the fullest extent permitted by law and subject to certain
limitations described below, each director or officer (including each former director or officer)
(an &#147;indemnitee&#148;) of the Registrant who was or is made a party to or a witness in or is threatened
to be made a party to or a witness in, any threatened, pending or completed action, suit,
investigation or proceeding, whether civil, criminal, administrative or investigative and whether
external or internal to the Registrant, by reason of the fact that the indemnitee is or was an
authorized representative of the Registrant, against all expenses (including attorneys&#146; fees,
disbursements and other charges), judgments, losses, fines (including excise taxes and penalties)
and amounts paid in settlement actually and reasonably incurred by the indemnitee in connection
with such proceeding (collectively, &#147;Losses&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such indemnification also includes, but is not limited to, cases in which indemnification is
permitted pursuant to the provisions of Sections&nbsp;1741 through 1750 of the PBCL, and will be made in
every case described above except (i)&nbsp;in connection with a proceeding (or any claim, issue or
matter therein or any part thereof) initiated by the indemnitee, except (x)&nbsp;if the Board of
Directors of the Registrant has approved the initiation or bringing of such claim or (y)&nbsp;any
compulsory counterclaim, compulsory cross-claim, or required joinder made by indemnitee in a
proceeding not initiated by the indemnitee; (ii)&nbsp;with respect to any act that is established, by a
final, unappealable adjudication adverse to the indemnitee, as having been material to the cause of
action so adjudicated and as having constituted either willful misconduct or recklessness; (iii)
with respect to any benefit or advantage gained by the indemnitee to which the indemnitee was not
legally entitled; or (iv)&nbsp;for liability imposed in a proceeding by or for
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">the benefit of the Registrant to recover any profit pursuant to the provisions of Section
16(b) of the Securities Exchange Act of 1934 and regulations thereunder or similar provisions of
any applicable state law; however, that this exclusion does not apply to expenses (including
attorneys&#146; fees, disbursements and other charges) incurred by the indemnitee in such a proceeding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any case, to the extent that an indemnitee is successful on the merits or otherwise in
defense of any proceeding or any part thereof or in defense of any claim, issue or matter therein,
including but not limited to obtaining a dismissal without prejudice or a settlement without
admission of liability, the indemnitee will be promptly indemnified by the Registrant against all
Losses actually and reasonably incurred or suffered by the indemnitee in connection therewith.
Subject to certain limitations, such indemnification will be made by the Registrant without any
requirement that any determination be made or any action be taken by the Board of Directors,
shareholders or legal counsel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Amended and Restated Articles of Incorporation and the Amended and Restated Bylaws of the
Registrant require that the Registrant promptly pay all expenses (including attorneys&#146; fees,
disbursements and other charges) actually incurred by an indemnitee in defending or appearing in
any proceeding described above in advance of the final disposition of such proceeding upon receipt
of an undertaking by or on behalf of the indemnitee to repay all amounts advanced if it is
ultimately specifically determined by a final, unappealable adjudication that the indemnitee is not
entitled to be indemnified by the Registrant and an irrevocable assignment to the Registrant of all
payments to which the indemnitee may be or become entitled, under any policy of insurance or
otherwise, in reimbursement of any such expenses paid by the Registrant pursuant to the
requirements of the Amended and Restated Articles of Incorporation and the Amended and Restated
Bylaws. Notwithstanding the foregoing, no advance payment will be made by the Registrant if the
Board of Directors reasonably and promptly determines by a majority vote of the directors who are
not parties to the proceeding that, based upon the facts known to the Board of Directors at the
time the determination is made, the matter is of the kind described in clause (i)&nbsp;above or the
indemnitee&#146;s actions are of the kind described in clause (iii)&nbsp;above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Amended and Restated Articles and the Amended and Restated Bylaws of the Registrant
provide that the rights of indemnification and advancement of expenses provided for therein shall
not be deemed exclusive of any other rights to which those seeking indemnification or advancement
of expenses may otherwise be entitled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant intends to enter into an indemnification agreement with each of its directors
and certain of its officers. The indemnification agreement will provide the director or officer
with contractual rights to the indemnification and expense advancement rights provided under the
Amended and Restated Articles and the Amended and Restated Bylaws of the Registrant, as well as
contractual rights to additional indemnification and expense advancement rights as provided in the
indemnification agreement. These additional indemnification and expense advancement rights include
(i)&nbsp;indemnification for all expenses actually and reasonably incurred by an indemnitee who, by
reason of his corporate status, is a witness or is otherwise asked to participate in any proceeding
to which the indemnitee is not a party and (ii)&nbsp;advancement of all expenses incurred by or on
behalf of the indemnitee in connection with any proceeding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PBCL Section&nbsp;1747 permits a Pennsylvania business corporation to purchase and maintain
insurance on behalf of any person who is or was a director, officer, employee or agent of the
corporation or is or was serving at the request of the corporation as a director, officer, employee
or agent of another enterprise, against any liability asserted against such person and incurred by
him in any such capacity, or arising out of his status as such, whether or not the corporation
would have the power to indemnify the person against such liability under the provisions described
above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Amended and Restated Articles and the Amended and Restated Bylaws of the Registrant
provide that the Registrant may purchase and maintain insurance on behalf of each director and
officer against any liability asserted against or incurred by such officer or director in any
capacity, or arising out of such director&#146;s or officer&#146;s status as such, whether or not the
Registrant would have the power to indemnify such person against such liability under the
provisions of the Amended and Restated Articles and the Amended and Restated Bylaws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains directors&#146; and officers&#146; liability insurance covering its directors
and officers with respect to liabilities, including liabilities under the Securities Act of 1933,
as amended, which they may incur in
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-3<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">connection with their serving as such. Such insurance provides coverage for the directors and
officers against certain liabilities even though such liabilities may not be covered by the
indemnification provisions of the Amended and Restated Articles and the Amended and Restated
Bylaws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by PBCL Section&nbsp;1713, the Amended and Restated Bylaws provide that no director
shall be personally liable for monetary damages for any action taken, or failure to take any
action, except to the extent that such elimination or limitation of liability is expressly
prohibited by the PBCL as in effect at the time of the alleged action or failure to take action by
the director. The PBCL states that this exculpation from liability does not apply where the
director has breached or failed to perform the duties of his office and the breach or failure to
perform constitutes self-dealing, willful misconduct or recklessness, and does not apply to the
responsibility or liability of a director pursuant to any criminal statute or the liability of a
director for payment of taxes pursuant to federal, state or local law. It may also not apply to
liabilities imposed upon directors by the federal securities laws. PBCL Section 1715(d) creates a
presumption, subject to exceptions, that a director acted in the best interests of the corporation.
PBCL Section&nbsp;1712, in defining the standard of care a director owes to the corporation, provides
that a director stands in a fiduciary relation to the corporation and must perform his duties as a
director or as a member of any committee of the Board in good faith, in a manner he reasonably
believes to be in the best interests of the corporation and with such care, including reasonable
inquiry, skill and diligence, as a person or ordinary prudence would use under similar
circumstances.
</DIV>
<!-- link2 "Item 7. Exemption from Registration Claimed." -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item 8. Exhibits." -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed herewith or incorporated by reference as part of this
Registration Statement:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD colspan="2" nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Amended and Restated Articles of Incorporation of the Registrant (incorporated
by reference to Exhibit&nbsp;3.1 to Amendment No.&nbsp;6 to the Registration Statement on Form&nbsp;S-1/A
(File No.&nbsp;333-148259) filed on September&nbsp;21, 2009).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Amended and Restated By-Laws of the Registrant (incorporated by reference to
Exhibit&nbsp;3.2 to Amendment No.&nbsp;6 to the Registration Statement on Form&nbsp;S-1/A (File No.
333-148259) filed on September&nbsp;21, 2009).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Omnibus Long Term Incentive Plan (incorporated by reference to Exhibit&nbsp;10.24 to
Amendment No.&nbsp;5 to the Registration Statement on Form&nbsp;S-1/A (File No.&nbsp;333-148259) filed on
August&nbsp;31, 2009).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of K&#038;L Gates LLP regarding the legality of the shares being registered
hereunder (filed herewith).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP (filed herewith).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of K&#038;L Gates LLP (included in the Opinion filed as Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (set forth on the signature page of this Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "Item 9. Undertakings." -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers of sales are being made, a
post-effective amendment to this Registration Statement:
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of the Securities
Act;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration Statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any material
change to such information in the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provided, however, that Paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if
the information required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant
to Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by reference in this
Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each
such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant&#146;s annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">* * *
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Pittsburgh, Commonwealth of
Pennsylvania, on this 2nd day of
October, 2009.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">EDUCATION MANAGEMENT CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Edward H. West
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Edward H. West&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We, the undersigned directors and officers of Education Management Corporation do hereby
constitute and appoint Edward H. West and J. Devitt Kramer, or either one of them, our true and
lawful attorneys and agents, to do any and all acts and things in our name and on our behalf in our
capacities as directors and officers and to execute any and all instruments for us and in our names
in the capacities indicated below, which said attorneys and agents may deem necessary or advisable
to enable said corporation to comply with the Securities Act and any rules, regulations and
requirements of the Commission, in connection with this Registration Statement, including
specifically, but without limitation, power and authority to sign for us or any of us in our names
in the capacities indicated below, any and all amendments (including post-effective amendments)
hereto and we do hereby ratify and confirm all that said attorneys and agents shall do or cause to
be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this Registration Statement and the
foregoing Power of Attorney have been signed by the following persons in the capacities and on the
date(s) indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Capacity</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Todd S. Nelson
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Chief Executive Officer and Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Todd S. Nelson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">(Principal Executive Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Edward H. West
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">President and Chief Financial Officer&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Edward H. West
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">(Principal Financial Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Randall J. Killeen
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Vice President, Controller and Chief&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Randall J. Killeen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Accounting Officer (Principal Accounting Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John R. McKernan, Jr.
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Chairman of the Board of Directors&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">John R. McKernan, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Adrian M. Jones
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Adrian M. Jones</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jeffrey T. Leeds
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jeffrey T. Leeds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Leo F. Mullin
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Leo F. Mullin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Paul J. Salem
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Paul J. Salem</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Peter O. Wilde
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2009</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter O. Wilde</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->II-6<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">EXHIBIT INDEX
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD Colspan="2" nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Amended and Restated Articles of Incorporation of the Registrant (incorporated
by reference to Exhibit&nbsp;3.1 to Amendment No.&nbsp;6 to the Registration Statement on Form&nbsp;S-1/A
(File No.&nbsp;333-148259) filed on September&nbsp;21, 2009).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Amended and Restated By-Laws of the Registrant (incorporated by reference to
Exhibit&nbsp;3.2 to Amendment No.6 to the Registration Statement on Form&nbsp;S-1/A (File No.
333-148259) filed on September&nbsp;21, 2009).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Omnibus Long Term Incentive Plan (incorporated by reference to Exhibit&nbsp;10.24 to
Amendment No.&nbsp;5 to the Registration Statement on Form&nbsp;S-1/A (File No.&nbsp;333-148259) filed on
August&nbsp;31, 2009).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of K&#038;L Gates LLP regarding the legality of the shares being registered
hereunder (filed herewith).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP (filed herewith).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of K&#038;L Gates LLP (included in the Opinion filed as Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (set forth on the signature page of this Registration Statement).</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->II-7<!-- /Folio -->
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</BODY>
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sv8
Table of Contents
Registration No. 333-_______
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
EDUCATION MANAGEMENT CORPORATION
(Exact name of registrant as specified in its charter)
Pennsylvania
25-1119571
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
210 Sixth Avenue
33rd Floor
Pittsburgh, Pennsylvania 15222
(Address of principal executive offices)
EDUCATION MANAGEMENT CORPORATION
OMNIBUS LONG-TERM INCENTIVE PLAN
(Full title of the plan)
J. Devitt Kramer, Esq.
Senior Vice President, General Counsel and Secretary
Education Management Corporation
210 Sixth Avenue
33rd Floor
Pittsburgh, Pennsylvania 15222
(Name and address of agent for service)
(412) 562-0900
(Telephone number, including area code, of agent for service)
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer or
a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated
filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
(Check one):
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
þ
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Title of
securities
to be registered
Amount to be
registered
1
Proposed
maximum
offering price
per share
Proposed
maximum
aggregate
offering price
Amount of
registration
fee
Common Stock, par value $0.01 per  share
6,821,012
2
$20.00
3
$136,420,240
3
$7,613
(1)
This Registration Statement also registers additional securities to be offered
or issued upon adjustments or changes made to registered securities by reason of any stock splits, stock dividends or similar
transactions as permitted by Rule 416(a) and Rule 416(b) under the Securities Act of 1933, as
amended (the "Securities Act").
(2)
Represents 6,379,158 shares of the Registrant's common stock available for
issuance under the Omnibus Long-Term Incentive Plan and 441,854 shares of the Registrant's common
stock available for issuance under the Registrant's 2006 Stock Option Plan.
(3)
Estimated solely for the purpose of calculating the registration fee pursuant
to Rule 457(h). The fee is based on a price of $20.00 per share, which is the high-point of the
estimated price range per share of the Registrant's common stock for the Registrant's initial
public offering of its common stock pursuant to the Registrant's Registration Statement on Form S-1
(File No. 333-141504).
TABLE OF CONTENTS
PART II
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
EX-5.1
EX-23.1
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents previously filed by the Registrant with the Securities and Exchange
Commission (the "Commission") are hereby incorporated by reference into this Registration
Statement:
The Registrant's prospectus to be filed pursuant to Rule 424(b) under the Securities Act with
the Commission, relating to the Registration Statement on Form S-1 (File No. 333-148259) and which
includes audited financial statements for the Registrant's latest fiscal year.
The description of the Registrant's common stock contained in the Registration Statement on
Form 8-A (File No. 001-34466) filed with the Commission on September 22, 2009, pursuant to Section
12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any
amendment or report filed for the purposes of updating such description.
All documents filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act after the date of this Registration Statement, but prior to the
filing of a post-effective amendment to this Registration Statement which indicates that all
securities offered by this Registration Statement have been sold or which deregisters all such
securities then remaining unsold, shall be deemed to be incorporated by reference into this
Registration Statement. Each document incorporated by reference into this Registration Statement
shall be deemed to be a part of this Registration Statement from the date of filing of such
document with the Commission until the information contained therein is superseded or updated by
any subsequently filed document which is incorporated by reference into this Registration Statement
or by any document which constitutes part of the prospectus relating to the Education Management
Corporation Omnibus Long-Term Incentive Plan meeting the requirements of Section 10(a) of the
Securities Act.
Item 4. Description of Securities.
The class of securities to be offered under this Registration Statement is registered under
Section 12 of the Exchange Act.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Sections 1741 and 1742 of the Pennsylvania Business Corporation Law (the "PBCL") provide that
a business corporation shall have the power to indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action or proceeding whether
civil, criminal, administrative or investigative, by reason of the fact that such person is or was
a director, officer, employee or agent of the business corporation or of another domestic or
foreign corporation for profit or not-for-profit, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with such proceeding, if
such person acted in good faith and in a manner he reasonably believed to be in, or not opposed to,
the best interests of the corporation, and, with respect to any criminal proceeding, has no
reasonable cause to believe his conduct was unlawful. In the case of an action by or in the right
of the corporation, such indemnification is limited to expenses (including attorneys' fees)
actually and reasonably incurred by such person in connection with the defense or settlement of
such action, except that no indemnification shall be made in respect of any claim, issue or matter
as to which such person has been adjudged to be liable to the corporation, unless, and only to the
extent that, a court determines upon application that, despite the adjudication of liability but in
view of all the circumstances, such person is fairly and reasonably entitled to indemnity for the
expenses that the court deems proper.
II-1
Table of Contents
PBCL Section 1744 provides that, unless ordered by a court, any indemnification referred to
above shall be made by the corporation only as authorized in the specific case upon a determination
that indemnification is proper in the circumstances because the director, officer, employee or
agent of the corporation has met the applicable standard of conduct. Such determination shall be
made:
(i)
by the Board of Directors by a majority vote of a quorum consisting of
directors who were not parties to the proceeding; or
(ii)
if such a quorum is not obtainable or if obtainable and a majority vote of a
quorum of disinterested directors so directs, by independent legal counsel in a written
opinion; or
(iii)
by the shareholders.
Notwithstanding the above, PBCL Section 1743 provides that to the extent that a director, officer,
employee or agent of a business corporation is successful on the merits or otherwise in defense of
any proceeding referred to above as contained in sections 1741 and 1742, or in defense of any claim
therein, such person shall be indemnified against expenses (including attorneys' fees) actually and
reasonably incurred by such person in connection therewith.
PBCL Section 1745 provides that expenses (including attorneys' fees) incurred by an officer,
director, employee or agent of a business corporation in defending any such proceeding may be paid
by the corporation in advance of the final disposition of the action or proceeding upon receipt of
an undertaking to repay the amount advanced if it is ultimately determined that the director,
officer, employee or agent of the corporation is not entitled to be indemnified by the corporation.
PBCL Section 1746 provides that the indemnification and advancement of expenses provided by,
or granted pursuant to, the foregoing provisions is not exclusive of any other rights to which a
person seeking indemnification may be entitled under any bylaw, agreement, vote of shareholders or
disinterested directors or otherwise both as to action in such person's official capacity and as to
action in another capacity while holding office, and that indemnification may be granted under any
bylaw, agreement, vote of shareholders or directors or otherwise for any action taken whether or
not the corporation would have the power to indemnify the person under any other provision of law
and whether or not the indemnified liability arises or arose from any threatened, pending or
completed action by or in the right of the corporation, provided, however, that no indemnification
may be made in any case where the act or failure to act giving rise to the claim for
indemnification is determined by a court to have constituted willful misconduct or recklessness.
The Registrant's Amended and Restated Articles of Incorporation and Amended and Restated
Bylaws contain substantially identical provisions regarding indemnification. The Registrant's
Amended and Restated Articles of Incorporation and Amended and Restated Bylaws require the
Registrant to promptly indemnify, to the fullest extent permitted by law and subject to certain
limitations described below, each director or officer (including each former director or officer)
(an "indemnitee") of the Registrant who was or is made a party to or a witness in or is threatened
to be made a party to or a witness in, any threatened, pending or completed action, suit,
investigation or proceeding, whether civil, criminal, administrative or investigative and whether
external or internal to the Registrant, by reason of the fact that the indemnitee is or was an
authorized representative of the Registrant, against all expenses (including attorneys' fees,
disbursements and other charges), judgments, losses, fines (including excise taxes and penalties)
and amounts paid in settlement actually and reasonably incurred by the indemnitee in connection
with such proceeding (collectively, "Losses").
Such indemnification also includes, but is not limited to, cases in which indemnification is
permitted pursuant to the provisions of Sections 1741 through 1750 of the PBCL, and will be made in
every case described above except (i) in connection with a proceeding (or any claim, issue or
matter therein or any part thereof) initiated by the indemnitee, except (x) if the Board of
Directors of the Registrant has approved the initiation or bringing of such claim or (y) any
compulsory counterclaim, compulsory cross-claim, or required joinder made by indemnitee in a
proceeding not initiated by the indemnitee; (ii) with respect to any act that is established, by a
final, unappealable adjudication adverse to the indemnitee, as having been material to the cause of
action so adjudicated and as having constituted either willful misconduct or recklessness; (iii)
with respect to any benefit or advantage gained by the indemnitee to which the indemnitee was not
legally entitled; or (iv) for liability imposed in a proceeding by or for
II-2
Table of Contents
the benefit of the Registrant to recover any profit pursuant to the provisions of Section
16(b) of the Securities Exchange Act of 1934 and regulations thereunder or similar provisions of
any applicable state law; however, that this exclusion does not apply to expenses (including
attorneys' fees, disbursements and other charges) incurred by the indemnitee in such a proceeding.
In any case, to the extent that an indemnitee is successful on the merits or otherwise in
defense of any proceeding or any part thereof or in defense of any claim, issue or matter therein,
including but not limited to obtaining a dismissal without prejudice or a settlement without
admission of liability, the indemnitee will be promptly indemnified by the Registrant against all
Losses actually and reasonably incurred or suffered by the indemnitee in connection therewith.
Subject to certain limitations, such indemnification will be made by the Registrant without any
requirement that any determination be made or any action be taken by the Board of Directors,
shareholders or legal counsel.
The Amended and Restated Articles of Incorporation and the Amended and Restated Bylaws of the
Registrant require that the Registrant promptly pay all expenses (including attorneys' fees,
disbursements and other charges) actually incurred by an indemnitee in defending or appearing in
any proceeding described above in advance of the final disposition of such proceeding upon receipt
of an undertaking by or on behalf of the indemnitee to repay all amounts advanced if it is
ultimately specifically determined by a final, unappealable adjudication that the indemnitee is not
entitled to be indemnified by the Registrant and an irrevocable assignment to the Registrant of all
payments to which the indemnitee may be or become entitled, under any policy of insurance or
otherwise, in reimbursement of any such expenses paid by the Registrant pursuant to the
requirements of the Amended and Restated Articles of Incorporation and the Amended and Restated
Bylaws. Notwithstanding the foregoing, no advance payment will be made by the Registrant if the
Board of Directors reasonably and promptly determines by a majority vote of the directors who are
not parties to the proceeding that, based upon the facts known to the Board of Directors at the
time the determination is made, the matter is of the kind described in clause (i) above or the
indemnitee's actions are of the kind described in clause (iii) above.
The Amended and Restated Articles and the Amended and Restated Bylaws of the Registrant
provide that the rights of indemnification and advancement of expenses provided for therein shall
not be deemed exclusive of any other rights to which those seeking indemnification or advancement
of expenses may otherwise be entitled.
The Registrant intends to enter into an indemnification agreement with each of its directors
and certain of its officers. The indemnification agreement will provide the director or officer
with contractual rights to the indemnification and expense advancement rights provided under the
Amended and Restated Articles and the Amended and Restated Bylaws of the Registrant, as well as
contractual rights to additional indemnification and expense advancement rights as provided in the
indemnification agreement. These additional indemnification and expense advancement rights include
(i) indemnification for all expenses actually and reasonably incurred by an indemnitee who, by
reason of his corporate status, is a witness or is otherwise asked to participate in any proceeding
to which the indemnitee is not a party and (ii) advancement of all expenses incurred by or on
behalf of the indemnitee in connection with any proceeding.
PBCL Section 1747 permits a Pennsylvania business corporation to purchase and maintain
insurance on behalf of any person who is or was a director, officer, employee or agent of the
corporation or is or was serving at the request of the corporation as a director, officer, employee
or agent of another enterprise, against any liability asserted against such person and incurred by
him in any such capacity, or arising out of his status as such, whether or not the corporation
would have the power to indemnify the person against such liability under the provisions described
above.
The Amended and Restated Articles and the Amended and Restated Bylaws of the Registrant
provide that the Registrant may purchase and maintain insurance on behalf of each director and
officer against any liability asserted against or incurred by such officer or director in any
capacity, or arising out of such director's or officer's status as such, whether or not the
Registrant would have the power to indemnify such person against such liability under the
provisions of the Amended and Restated Articles and the Amended and Restated Bylaws.
The Registrant maintains directors' and officers' liability insurance covering its directors
and officers with respect to liabilities, including liabilities under the Securities Act of 1933,
as amended, which they may incur in
II-3
Table of Contents
connection with their serving as such. Such insurance provides coverage for the directors and
officers against certain liabilities even though such liabilities may not be covered by the
indemnification provisions of the Amended and Restated Articles and the Amended and Restated
Bylaws.
As permitted by PBCL Section 1713, the Amended and Restated Bylaws provide that no director
shall be personally liable for monetary damages for any action taken, or failure to take any
action, except to the extent that such elimination or limitation of liability is expressly
prohibited by the PBCL as in effect at the time of the alleged action or failure to take action by
the director. The PBCL states that this exculpation from liability does not apply where the
director has breached or failed to perform the duties of his office and the breach or failure to
perform constitutes self-dealing, willful misconduct or recklessness, and does not apply to the
responsibility or liability of a director pursuant to any criminal statute or the liability of a
director for payment of taxes pursuant to federal, state or local law. It may also not apply to
liabilities imposed upon directors by the federal securities laws. PBCL Section 1715(d) creates a
presumption, subject to exceptions, that a director acted in the best interests of the corporation.
PBCL Section 1712, in defining the standard of care a director owes to the corporation, provides
that a director stands in a fiduciary relation to the corporation and must perform his duties as a
director or as a member of any committee of the Board in good faith, in a manner he reasonably
believes to be in the best interests of the corporation and with such care, including reasonable
inquiry, skill and diligence, as a person or ordinary prudence would use under similar
circumstances.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
The following exhibits are filed herewith or incorporated by reference as part of this
Registration Statement:
Exhibit No.
Description
4.1
Form of Amended and Restated Articles of Incorporation of the Registrant (incorporated
by reference to Exhibit 3.1 to Amendment No. 6 to the Registration Statement on Form S-1/A
(File No. 333-148259) filed on September 21, 2009).
4.2
Form of Amended and Restated By-Laws of the Registrant (incorporated by reference to
Exhibit 3.2 to Amendment No. 6 to the Registration Statement on Form S-1/A (File No.
333-148259) filed on September 21, 2009).
4.3
Form of Omnibus Long Term Incentive Plan (incorporated by reference to Exhibit 10.24 to
Amendment No. 5 to the Registration Statement on Form S-1/A (File No. 333-148259) filed on
August 31, 2009).
5.1
Opinion of K&L Gates LLP regarding the legality of the shares being registered
hereunder (filed herewith).
23.1
Consent of Ernst & Young LLP (filed herewith).
23.2
Consent of K&L Gates LLP (included in the Opinion filed as Exhibit 5.1).
24.1
Power of Attorney (set forth on the signature page of this Registration Statement).
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers of sales are being made, a
post-effective amendment to this Registration Statement:
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(i) To include any prospectus required by Section 10(a)(3) of the Securities
Act;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration Statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any material
change to such information in the Registration Statement.
Provided, however, that Paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if
the information required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant
to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this
Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each
such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant's annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
* * *
(h) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Pittsburgh, Commonwealth of
Pennsylvania, on this 2nd day of
October, 2009.
EDUCATION MANAGEMENT CORPORATION
By:
/s/ Edward H. West
Edward H. West
President and Chief Financial Officer
We, the undersigned directors and officers of Education Management Corporation do hereby
constitute and appoint Edward H. West and J. Devitt Kramer, or either one of them, our true and
lawful attorneys and agents, to do any and all acts and things in our name and on our behalf in our
capacities as directors and officers and to execute any and all instruments for us and in our names
in the capacities indicated below, which said attorneys and agents may deem necessary or advisable
to enable said corporation to comply with the Securities Act and any rules, regulations and
requirements of the Commission, in connection with this Registration Statement, including
specifically, but without limitation, power and authority to sign for us or any of us in our names
in the capacities indicated below, any and all amendments (including post-effective amendments)
hereto and we do hereby ratify and confirm all that said attorneys and agents shall do or cause to
be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement and the
foregoing Power of Attorney have been signed by the following persons in the capacities and on the
date(s) indicated:
Signature
Capacity
Date
/s/ Todd S. Nelson
Chief Executive Officer and Director
October 2, 2009
Todd S. Nelson
(Principal Executive Officer)
/s/ Edward H. West
President and Chief Financial Officer
October 2, 2009
Edward H. West
(Principal Financial Officer)
/s/ Randall J. Killeen
Vice President, Controller and Chief
October 2, 2009
Randall J. Killeen
Accounting Officer (Principal Accounting Officer)
/s/ John R. McKernan, Jr.
Chairman of the Board of Directors
October 2, 2009
John R. McKernan, Jr.
/s/ Adrian M. Jones
Director
October 2, 2009
Adrian M. Jones
/s/ Jeffrey T. Leeds
Director
October 2, 2009
Jeffrey T. Leeds
/s/ Leo F. Mullin
Director
October 2, 2009
Leo F. Mullin
/s/ Paul J. Salem
Director
October 2, 2009
Paul J. Salem
/s/ Peter O. Wilde
Director
October 2, 2009
Peter O. Wilde
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EXHIBIT INDEX
Exhibit No.
Description
4.1
Form of Amended and Restated Articles of Incorporation of the Registrant (incorporated
by reference to Exhibit 3.1 to Amendment No. 6 to the Registration Statement on Form S-1/A
(File No. 333-148259) filed on September 21, 2009).
4.2
Form of Amended and Restated By-Laws of the Registrant (incorporated by reference to
Exhibit 3.2 to Amendment No.6 to the Registration Statement on Form S-1/A (File No.
333-148259) filed on September 21, 2009).
4.3
Form of Omnibus Long Term Incentive Plan (incorporated by reference to Exhibit 10.24 to
Amendment No. 5 to the Registration Statement on Form S-1/A (File No. 333-148259) filed on
August 31, 2009).
5.1
Opinion of K&L Gates LLP regarding the legality of the shares being registered
hereunder (filed herewith).
23.1
Consent of Ernst & Young LLP (filed herewith).
23.2
Consent of K&L Gates LLP (included in the Opinion filed as Exhibit 5.1).
24.1
Power of Attorney (set forth on the signature page of this Registration Statement).
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