a Material Definitive

On September 1, 2017, CorVel Corporation (the Company) entered into a Credit Agreement (the Credit Agreement) dated September 1, 2017, and an unsecured Revolving Line of Credit Note (the Note) dated September 1, 2017, with Wells Fargo Bank, National Association (Wells Fargo), pursuant to which the Company renewed its $10.0 million revolving credit facility (the Credit Facility) for general working capital requirements. Borrowings under the Credit Facility bear interest, at the Companys option, at a fixed LIBOR-based rate plus 1.00% or at a fluctuating rate determined by the financial institution to be 1.00% above the daily one-month LIBOR rate. The loan covenants require the Company to maintain the current assets to liabilities ratio of at least 1.25:1, debt to tangible net w orth not greater than 1.25:1 and have positive net income. There are no outstanding revolving loans as of the date hereof, but letters of credit in the aggregate amount of $4.5 million have been issued that do not reduce the amount of borrowings available under the Credit Facility. The renewed Credit Facility expires on September 1, 2018.

The foregoing is a summary of the material terms of the Credit Agreement and the Note. Such summary does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement and the Note, copies of which are attached hereto as Exhibits 10.1 and 10.2 and are incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(a) Not Applicable.

(b) Not Applicable.

(c) Not Applicable.

(d) Exhibits.

Exhibit

Number

Description of Exhibit

10.1

10.2

Credit Agreement dated September 1, 2017 by and between CorVel Corporation and Wells Fargo Bank, National Association.

Revolving Line of Credit Note dated September 1, 2017 by CorVel Corporation in favor of Wells Fargo Bank, National Association.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CORVEL CORPORATION,

a Delaware corporation

(Registrant)

Date: September 5, 2017

By:

/s/ Richard Schweppe

Richard Schweppe

Chief Financial Officer

Exhibit

Index

Exhibit

Number

Description of Exhibit

10.1

10.2

Credit Agreement dated September 1, 2017 by and between CorVel Corporation and Wells Fargo Bank, National Association.

Revolving Line of Credit Note dated September 1, 2017 by CorVel Corporation in favor of Wells Fargo Bank, National Association.

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