<PAGE>   1
                                                                   EXHIBIT 10.13



                       ARBITRON EXECUTIVE INVESTMENT PLAN






























                                      As Adopted Effective as of January 1, 2001

<PAGE>   2


                       ARBITRON EXECUTIVE INVESTMENT PLAN

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>
                                                                                          Page
                                                                                          ----
<S>                                                                                       <C>
ARTICLE 1. DESCRIPTION.......................................................................1
   1.1  Plan Name............................................................................1
   1.2  Plan Purpose.........................................................................1
   1.3  Plan Type............................................................................1
   1.4  Plan Background......................................................................1

ARTICLE 2. PARTICIPATION.....................................................................2
   2.1  Participation........................................................................2
   2.2  Conditions of Participation..........................................................2
   2.3  Termination of Participation.........................................................2

ARTICLE 3. BENEFITS..........................................................................3
   3.1  Participant Accounts.................................................................3
   3.2  Participant Deferral Credits.........................................................3
   3.3  Earnings Credits.....................................................................3
   3.4  Vesting..............................................................................5

ARTICLE 4. DISTRIBUTION......................................................................6
   4.1  Distribution to Participant Before Severance or Disability...........................6
   4.2  Distribution to Participant After Severance or Disability............................7
   4.3  Distribution to Beneficiary.........................................................10
   4.4  Nondeductibility....................................................................11
   4.5  Payment in Event of Incapacity......................................................12
   4.6  Suspension..........................................................................12

ARTICLE 5. SOURCE OF PAYMENTS; NATURE OF INTEREST...........................................13
   5.1  Establishment of Trust..............................................................13
   5.2  Source of Payments..................................................................13
   5.3  Status of Plan......................................................................13
   5.4  Non-assignability of Benefits.......................................................13

ARTICLE 6. AMENDMENT, TERMINATION...........................................................14
   6.1  Amendment...........................................................................14
   6.2  Termination of Participation........................................................14
   6.3  Termination.........................................................................15

ARTICLE 7. DEFINITIONS, CONSTRUCTION AND INTERPRETATION.....................................16
   7.1  Account.............................................................................16
   7.2  Administrator.......................................................................16
   7.3  Affiliate...........................................................................16
   7.4  Board...............................................................................16
   7.5  Beneficiary.........................................................................16
   7.6  Code................................................................................16
   7.7  Company.............................................................................16
</TABLE>


                                       i

<PAGE>   3


<TABLE>
<S>                                                                                       <C>
   7.8  Cross Reference.....................................................................17
   7.9  Disability..........................................................................17
   7.10 ERISA...............................................................................17
   7.11 Governing Law.......................................................................17
   7.12 Headings............................................................................17
   7.13 Number and Gender...................................................................17
   7.14 Participant.........................................................................17
   7.15 Participating Employer..............................................................18
   7.16 Plan................................................................................18
   7.17 Plan Rules..........................................................................18
   7.18 Prior Plan..........................................................................18
   7.19 Retirement..........................................................................18
   7.20 Severance...........................................................................18
   7.21 Trust...............................................................................18
   7.22 Trustee.............................................................................18
   7.23 Unforeseeable Emergency.............................................................19
   7.24 Valuation Date......................................................................19

ARTICLE 8. ADMINISTRATION...................................................................20
   8.1  Administrator.......................................................................20
   8.2  Plan Rules and Regulations..........................................................20
   8.3  Administrator's Discretion..........................................................20
   8.4  Specialist's Assistance.............................................................20
   8.5  Indemnification.....................................................................20
   8.6  Benefit Claim Procedure.............................................................21
   8.7  Disputes............................................................................21

ARTICLE 9. MISCELLANEOUS....................................................................23
   9.1  Withholding and Offsets.............................................................23
   9.2  Other Benefits......................................................................23
   9.3  No Warranties Regarding Tax Treatment...............................................23
   9.4  No Rights to Continued Service Created..............................................23
   9.5  Special Provisions..................................................................23
   9.6  Successors..........................................................................23
</TABLE>


                                       ii

<PAGE>   4

                       ARBITRON EXECUTIVE INVESTMENT PLAN


                                   ARTICLE 1.
                                  DESCRIPTION

1.1     PLAN NAME.

        The name of the Plan is the "Arbitron Executive Investment Plan."

1.2     PLAN PURPOSE.

        The purpose of the Plan is to provide Participants who, as of December
31, 2000, were participants in the Prior Plan with

        (a)    the benefits to which they were entitled under the Prior Plan as
               of December 31, 2000 (other than benefits scheduled to be
               distributed pursuant to the Prior Plan on January 1, 2001) and

        (b)    deferral credits relating to the 2000 plan year under the Prior
               Plan that would have otherwise been credited to the Participant's
               account under the Prior Plan as of a date after December 31,
               2000, such as deferral credits relating to elections pursuant to
               the Prior Plan to defer annual bonuses earned during the 2000
               plan year and otherwise payable during the first calendar quarter
               of 2001.

1.3     PLAN TYPE.

        The Plan is an unfunded plan maintained primarily for the purpose of
providing deferred compensation for a select group of management or highly
compensated employees. It is intended that the Plan is exempt from the
provisions of Parts 2, 3 and 4 of Subtitle B of Title I of ERISA by operation of
sections 201(2), 301(a)(3) and 401(a)(4) thereof, respectively, and from the
provisions of Title IV of ERISA, to the extent otherwise applicable, by
operation of section 4021(b)(6) thereof. The Plan is also intended to be
unfunded for tax purposes. The Plan will be construed and administered in a
manner that is consistent with and gives effect to the foregoing.

1.4     PLAN BACKGROUND.

        (a)    The Company adopted the Prior Plan effective as of
               January 1, 1995.

        (b)    Effective as of January 1, 1999, the Prior Plan was restated and
               the name of the Prior Plan was changed from the Ceridian
               Corporation Deferred Compensation Plan to the Ceridian
               Corporation Executive Investment Plan.

        (c)    Effective as of January 1, 2001, the Company established the Plan
               and the account balances of the Participants under the Prior Plan
               as of the close of business on December 31, 2000 (other than the
               portion of such account balances, if any, scheduled to be
               distributed pursuant to the Prior Plan on January 1, 2001) were
               credited to their Accounts under the Plan as of January 1, 2001.


                                       1
<PAGE>   5


                                   ARTICLE 2.
                                  PARTICIPATION

2.1     PARTICIPATION.

        Participation in the Plan is limited to those individuals whose account
balances under the Prior Plan as of the close of business on December 31, 2000
(other than the portion of such account balances, if any, scheduled to be
distributed pursuant to the Prior Plan on January 1, 2001) were credited to
their Accounts under the Plan as of January 1, 2001. No one else is eligible to
participate in the Plan.

2.2     CONDITIONS OF PARTICIPATION.

        Each Participant, as a condition of participation in the Plan, is bound
by all the terms and conditions of the Plan and the Plan Rules, and must furnish
to the Administrator such pertinent information and execute such election forms
and other instruments as the Administrator or Plan Rules may require by such
dates as the Administrator or Plan Rules may establish. All elections,
directions, designations and similar actions required in connection with the
Plan must be made in accordance with and are subject to the terms of the Plan
and Plan Rules.

2.3     TERMINATION OF PARTICIPATION.

        A Participant will cease to be a Participant as of the date on which his
or her entire Account balance has been distributed.


                                       2

<PAGE>   6

                                   ARTICLE 3.
                                    BENEFITS

3.1     PARTICIPANT ACCOUNTS.

        (a)    Participant Accounts. For each Participant, the Administrator
               will establish and maintain an Account. Effective as of January
               1, 2001, a Participant's Account will be credited with an amount
               equal to the balance of his or her account under the Prior Plan
               as of the close of business on December 31, 2000 (other than the
               portion of such account, if any, scheduled to be distributed
               pursuant to the Prior Plan on January 1, 2001).

        (b)    Subaccounts.

               (i)    Prime Rate Earnings Method. The portion of a Participant's
                      Account balance with respect to which earnings credits are
                      made pursuant to Section 3.3(g) will be credited to a
                      separate subaccount within the Account if deferrals were
                      credited to the Participant's account pursuant to Section
                      3.2 of the Prior Plan for any plan year beginning after
                      December 31, 1998.

               (ii)   Grandfathered Distribution Elections. If a Participant
                      made distribution elections under the provisions of the
                      Prior Plan in effect prior to January 1, 1999 pursuant to
                      which distributions are scheduled to be made or to begin
                      before January 1, 2001, the Administrator will maintain
                      separate subaccounts within the Participant's Account each
                      of which will evidence amounts credited to the Account
                      pursuant to any such election with respect to which the
                      Participant has elected an identical form and timing of
                      distribution.

3.2     PARTICIPANT DEFERRAL CREDITS.

        (a)    Prior Plan Deferral Credits. If a Participant made a deferral
               election pursuant to the Prior Plan relating to base compensation
               or annual bonus earned during 2000 for which the deferral credit
               would have been made to the Participant's account under the Prior
               Plan as of a date after December 31, 2000, the credit will
               instead be made to his or her Account as of the same date and in
               the same amount that the credit would have been made under the
               Prior Plan.

        (b)    No Other Deferral Credits.  No other deferral credits will be
               made pursuant to the Plan.


3.3     EARNINGS CREDITS.

        (a)    Designation of Investment Funds.  The Administrator will
               designate two or more investment funds which will serve as the
               basis for determining adjustments pursuant to this section. The
               Administrator may, from time to time, designate additional
               investment funds or eliminate any previously designated
               investment

                                       3

<PAGE>   7

               funds. The designation or elimination of a fund pursuant to this
               subsection is not a Plan amendment. The Administrator will not be
               responsible in any manner to any Participant or other person for
               any damages, losses, liabilities, costs or expenses of any kind
               arising in connection with any designation or elimination of an
               investment fund.

        (b)    Change in Direction for Existing Account Balance. A Participant
               may direct a change in the manner in which his or her existing
               Account balance is deemed to be invested among the investment
               funds designated pursuant to Subsection (a). The direction will
               be effective on or as soon as administratively practicable after
               the first day of the calendar month that first follows by at
               least 10 days (or such shorter period as Plan Rules may allow)
               the date on which the Administrator receives the direction from
               the Participant.

        (c)    Account Adjustment.  The Administrator will cause Participants'
               Accounts to be separately adjusted as of each Valuation Date, in
               a manner determined by the Administrator to be uniform and
               equitable, to reflect the income, expense, gains, losses, fees
               and the like that would have resulted since the last Valuation
               Date had the Participant's investment directions pursuant to this
               section actually been implemented. To the extent determined by
               the Administrator to be necessary in conjunction with any
               distribution pursuant to the Plan, the Administrator will cause
               the Account from which the distribution is to be made to be
               adjusted to reflect a good faith estimate by the Administrator of
               any fees and other expenditures payable after the date of the
               distribution in connection with deemed investment activity in the
               Account through and including the date of the distribution. Any
               such estimate is binding on the Participating Employer and the
               person to whom the distribution is made.

        (d)    Administrator's Obligations and Responsibilities.  The sole
               obligation of the Administrator with respect to the designation
               or elimination of any investment fund designated pursuant to
               Subsection (a) is to act in accordance with the express terms of
               Subsection (a). By way of example and without limiting the
               previous sentence, the Administrator is not required, and no
               course of conduct will cause it to be required, to investigate or
               monitor any designated fund to any extent or for any purpose or
               to take or refrain from taking any action with respect to a fund
               because of any aspect of the performance of the fund. The
               designation of a limited number of investment funds is solely for
               administrative convenience and in no way reflects any endorsement
               of any such funds by the Administrator.

        (e)    Deemed Investment. Trust assets are not required to be invested
               in accordance with a Participant's directions and the balance of
               all Accounts pursuant to the Plan will be determined pursuant to
               this section and other applicable sections of the Plan without
               regard to the actual amount of Trust assets.

        (f)    Participant Responsibilities. Each Participant is solely
               responsible for any and all consequences of his or her investment
               directions made pursuant to this section. Neither any
               Participating Employer, any of its directors, officers or
               employees nor


                                       4

<PAGE>   8

               the Administrator has any responsibility to any Participant or
               other person for any damages, losses, liabilities, costs or
               expenses of any kind arising in connection with any investment
               direction made by the Participant pursuant to this section.

        (g)    Prime Rate Method.

               (i)    General. The entire portion of a Participant's Account
                      attributable to deferral credits under the Prior Plan for
                      plan years ending before January 1, 1999 will be credited
                      with earnings in accordance with clause (ii) unless the
                      Participant elected otherwise in accordance with Section
                      3.4(i) of the Prior Plan.

               (ii)   Method. As of the last day of each calendar month, the
                      Administrator will, in accordance with Plan Rules, credit
                      the Account of each Participant to whom this clause
                      applies with earnings in an amount equal to the
                      "applicable percentage" of the average daily balance of
                      the Account for the month. The applicable percentage for a
                      given month is the monthly equivalent of the annual prime
                      rate of interest in effect on the first banking day of the
                      month as reported in The Wall Street Journal or other
                      national financial publication selected by the
                      Administrator.

3.4     VESTING.

        Each Participant always has a fully vested nonforfeitable interest in
his or her Account.


                                       5

<PAGE>   9

                                   ARTICLE 4.
                                  DISTRIBUTION

4.1     DISTRIBUTION TO PARTICIPANT BEFORE SEVERANCE OR DISABILITY.

        (a)    In-Service Distributions.

               (i)    If a Participant elected pursuant to Section 4.1(a) of the
                      Prior Plan to receive a distribution of all or any portion
                      of his or her Prior Plan account as of a specified date or
                      dates after January 1, 2001 and prior to his or her
                      Severance date or Disability, the election will apply to
                      the Participant's Account pursuant to the Plan.

               (ii)   A Participant will be provided with one opportunity to
                      elect to either delay or cancel each date specified in an
                      election described in clause (i). An election pursuant to
                      this clause will not be valid and will not have any effect
                      unless it is made on a properly completed form received by
                      the Administrator before the first day of the calendar
                      year immediately preceding the calendar year that includes
                      the distribution date originally specified. If the
                      Participant made such an election pursuant to Section
                      4.1(a)(iii) of the Prior Plan before January 1, 2001, the
                      election will apply to the Participant's Account pursuant
                      to the Plan and the Participant is not eligible to make an
                      election pursuant to this clause (ii).

               (iii)  If the Participant experiences a Severance or Disability
                      before a specified date, the Participant's election
                      pursuant to this subsection will become ineffective on his
                      or her Severance date or Disability and distribution of
                      his or her remaining Account balance will be made pursuant
                      to Section 4.2 or 4.3, as the case may be.

               (iv)   Any distribution pursuant to this subsection will be made
                      in a lump sum cash payment on or as soon as
                      administratively practicable after the date specified by
                      the Participant. If the Participant elected a specific
                      dollar amount, the amount of the distribution will be the
                      specified amount or the balance of the Participant's
                      Account as of the Valuation Date coinciding with or
                      immediately preceding the date on which the payment is
                      made (reduced by the amount of any other distribution from
                      the Account after that Valuation Date), whichever is less.
                      If the Participant elected a specific percentage of the
                      Account, the amount of the distribution will be the
                      specified percentage of the Participant's Account as of
                      the Valuation Date coinciding with or immediately
                      preceding the date on which the payment is made (reduced
                      by the amount of any other distribution from the Account
                      after that Valuation Date).

        (b)    Withdrawals Due to Unforeseeable Emergency.  Prior to a
               Participant's Severance date or Disability, a distribution will
               be made to a Participant from his or her Account if the
               Participant submits a written distribution request to the


                                       6

<PAGE>   10

               Administrator and the Administrator determines that the
               Participant has experienced an Unforeseeable Emergency. The
               amount of the distribution may not exceed the lesser of (i) the
               amount necessary to satisfy the emergency, as determined by the
               Administrator, and (ii) the balance of the Participant's Account
               as of the Valuation Date coinciding with or immediately preceding
               the date of the distribution (reduced by the amount of any other
               distribution from the Account after that Valuation Date). The
               distribution will be made in the form of a lump sum cash payment
               as soon as administratively practicable after the Administrator's
               determination that the Participant has experienced an
               Unforeseeable Emergency.

        (c)    Accelerated Distribution.  Prior to a Participant's Severance
               date or Disability, the Participant may elect to receive a
               distribution in an amount equal to 90 percent of his or her
               Account balance as of the Valuation Date coinciding with or
               immediately preceding the date on which the payment is made
               (reduced by the amount of any other distribution from the Account
               after that Valuation Date), and the remaining 10 percent balance
               of the Account will be permanently forfeited as of that Valuation
               Date. The distribution will be made in the form of a lump sum
               cash payment as soon as administratively practicable after the
               Participant's properly completed written election is filed with
               the Administrator.

        (d)    Reduction of Account Balance. The balance of the Participant's
               Account will be reduced (but not below zero) by the amount of the
               distribution as of the beginning of the next day after the
               Valuation Date coinciding with or last preceding the date of the
               distribution.

4.2     DISTRIBUTION TO PARTICIPANT AFTER SEVERANCE OR DISABILITY.

        (a)    Time.  Distribution to a Participant will be made or commence on
               or as soon as administratively practicable after the date of the
               Participant's Retirement, Disability or other Severance.

        (b)    Form.

               (i)    Severance Before Retirement or Disability.  Upon a
                      Participant's Severance before his or her Retirement or
                      Disability, distribution to the Participant will be made
                      in the form of a lump sum cash payment.

               (ii)   Retirement or Disability.  Upon a Participant's Retirement
                      or Disability, distribution to the Participant will be
                      made in the form of a lump sum cash payment unless (1) the
                      Participant made a written election, on a form provided by
                      the Administrator, to receive his or her distribution in
                      the form of five, 10 or 15 annual installment cash
                      payments and (2) his or her properly completed election
                      form is filed with the Administrator before the first day
                      of the calendar year immediately preceding the calendar
                      year that includes his or her Retirement or Disability.
                      Not more than once during any 12-month period, a
                      Participant may change an election made

                                       7

<PAGE>   11

                      pursuant to this subsection, but the change will not be
                      valid and will not have any effect unless it is made on a
                      properly completed form received by the Administrator
                      before the first day of the calendar year immediately
                      preceding the calendar year that includes the
                      Participant's Retirement or Disability. Until an election
                      becomes effective, it will have no effect on any prior
                      election whether or not such prior election became
                      effective before or after the Administrator received the
                      later election. When an election becomes effective, it
                      will automatically supersede any prior election then in
                      effect. An election or change made pursuant to Section
                      4.2(b)(ii) of the Prior Plan will be deemed to be an
                      election or change made pursuant to this Section
                      4.2(b)(ii).

        (c)    Amount.

               (i)    Lump Sum. The amount of a lump sum payment from a
                      Participant's Account will be equal to the balance of the
                      Account as of the Valuation Date coinciding with or
                      immediately preceding the date on which the payment is
                      made (reduced by the amount of any other distribution from
                      the Account after that Valuation Date).

               (ii)   Installments. The amount of an installment payment from a
                      Participant's Account will be determined by dividing the
                      balance of the Account as of the Valuation Date coinciding
                      with or immediately preceding the date on which the
                      payment is made (reduced by the amount of any other
                      distribution from the Account after that Valuation Date)
                      by the total number of remaining payments (including the
                      current payment). The undistributed portion of an Account
                      distributed in the form of installment payments will
                      continue to be credited with earnings in accordance with
                      Section 3.3.

        (d)    Special Rules.  The provisions of this subsection apply
               notwithstanding Subsection (a), (b) or (c) or any election by a
               Participant to the contrary.

               (i)    Divestitures.

                      (1)    If some or all of the assets of a Participating
                             Employer are sold or otherwise disposed of to an
                             unrelated third party, the Administrator may, but
                             is not required to, cause to be distributed the
                             Account of any Participant whose employment with
                             all Affiliates is terminated in connection with the
                             sale or disposition unless the acquirer adopts a
                             successor plan which is substantially similar to
                             the Plan in all material respects and expressly
                             assumes the Participating Employer's obligation to
                             provide benefits to the Participant, in which case
                             the Participating Employer will cease to have any
                             obligation to provide benefits to the Participant
                             pursuant to the Plan as of the effective date of
                             the assumption. Any such distribution will be made
                             in the form of a lump sum cash payment

                                       8

<PAGE>   12

                             as soon as administratively practicable after the
                             date of the sale or disposition. The amount of the
                             payment will be determined in accordance with
                             Subsection (c).

                      (2)    If a Participating Employer ceases to be an
                             Affiliate, unless otherwise provided in an
                             agreement between an Affiliate and the
                             Participating Employer or an Affiliate and an
                             unrelated third-party acquirer:

                             (A)    a Participant who is employed with the
                                    Participating Employer or

                             (B)    a Participant who is not employed with the
                                    Participating Employer but has an Account
                                    balance attributable to service with the
                                    Participating Employer

                             will not become entitled to his or her Account
                             balance attributable to service with the
                             Participating Employer solely as a result of the
                             cessation and the Participating Employer will,
                             after the date on which it ceases to be an
                             Affiliate, continue to be solely responsible to
                             provide benefits to the Participant at least equal
                             to the balance of the Account as of the effective
                             date of the cessation and as thereafter increased
                             by deferral credits relating to the period before
                             the effective date and earnings credits pursuant to
                             Section 3.3.

               (ii)   Withdrawals Due to Unforeseeable Emergency.  If a
                      Participant is receiving installment payments, a
                      distribution will be made to a Participant from his or her
                      Account if the Participant submits a written distribution
                      request to the Administrator and the Administrator
                      determines that the Participant has experienced an
                      Unforeseeable Emergency. The amount of the distribution
                      may not exceed the lesser of (a) the amount necessary to
                      satisfy the emergency, as determined by the Administrator,
                      and (b) the balance of the Participant's Account as of the
                      Valuation Date coinciding with or immediately preceding
                      the date of the distribution (reduced by the amount of any
                      other distribution from the Account after that Valuation
                      Date). The distribution will be made in the form of a lump
                      sum cash payment as soon as administratively practicable
                      after the Administrator's determination that the
                      Participant has experienced an Unforeseeable Emergency.

               (iii)  Accelerated Distribution.  If a Participant is receiving
                      installment payments, the Participant may elect to receive
                      a distribution in an amount equal to 90 percent of his or
                      her Account balance as of the Valuation Date coinciding
                      with or immediately preceding the date on which the
                      payment is made (reduced by the amount of any other
                      distribution from the Account after that Valuation Date),
                      and the remaining 10 percent balance of the Account will
                      be permanently forfeited as of that Valuation Date.


                                       9

<PAGE>   13

                      The distribution will be made in the form of a lump sum
                      cash payment as soon as administratively practicable after
                      the Participant's properly completed written election is
                      filed with the Administrator.

        (e)    Reduction of Account Balance. The balance of the Account from
               which a distribution is made will be reduced (but not below zero)
               by the amount of the distribution as of the beginning of the next
               day after the Valuation Date coinciding with or last preceding
               the date of the distribution.

4.3     DISTRIBUTION TO BENEFICIARY.

        (a)    Time. Distribution to a Beneficiary will be made as soon as
               administratively practicable after the date on which the
               Administrator receives notice of the Participant's death and
               determines that the Beneficiary is entitled to receive the
               distribution.

        (b)    Form. Distribution to the Participant's Beneficiary will be made
               in the form of a lump sum cash payment whether or not payments
               had commenced to the Participant in the form of installments
               prior to his or her death.

        (c)    Amount.  The amount of a lump sum payment will be equal to the
               balance of the Participant's Account as of the Valuation Date
               coinciding with or immediately preceding the date on which the
               payment is made (reduced by the amount of any other distribution
               from the Account after that Valuation Date). In addition, if the
               Participant dies before his or her Severance date or Disability
               and the Administrator determines that the death is not
               attributable to the Participant's suicide committed during the
               first calendar year beginning after December 31, 1998 for which
               deferrals were credited to the Participant's account under the
               Prior Plan or are credited to the Participant's Account under the
               Plan pursuant to Section 3.2(a) or the next following calendar
               year, the Beneficiary will also receive an amount equal to twice
               the Participant's total deferrals pursuant to the Prior Plan and
               the Plan for all years (exclusive of earnings on the deferrals).
               If there are multiple Beneficiaries, the total amount distributed
               will be divided among the Beneficiaries as directed by the
               Participant in the Beneficiary designation.

        (d)    Reduction of Account Balance. The balance of the Account from
               which a distribution is made will be reduced (but not below zero)
               by the amount of the distribution as of the beginning of the next
               day after the Valuation Date coinciding with or immediately
               preceding the date of the distribution.

        (e)    Beneficiary Designation.

               (i)    Each Participant may designate, on a form furnished by
                      the Administrator, one or more primary Beneficiaries or
                      alternative Beneficiaries to receive all or a specified
                      part of his or her Account, and the additional amount
                      described in Subsection (c), after his or her death, and
                      the Participant may change or revoke any such designation
                      from time to time. No such



                                       10

<PAGE>   14

                      designation, change or revocation is effective unless
                      executed by the Participant and received by the
                      Administrator during the Participant's lifetime. No
                      designation of a Beneficiary other than the Participant's
                      spouse is effective unless the spouse consents to the
                      designation or the Administrator determines that spousal
                      consent cannot be obtained because the spouse cannot
                      reasonably be located or is legally incapable of
                      consenting. The consent must be in writing, must
                      acknowledge the effect of the election and must be
                      witnessed by a notary public. The consent is effective
                      only with respect to the Beneficiary or class of
                      Beneficiaries so designated and only with respect to the
                      spouse who so consented.

               (ii)   If a Participant--

                      (1)    fails to designate a Beneficiary, or

                      (2)    revokes a Beneficiary designation without naming
                             another Beneficiary, or

                      (3)    designates one or more Beneficiaries, none of whom
                             survives the Participant or exists at the time in
                             question,

                      for all or any portion of his or her Account, such Account
                      or portion will be paid to the Participant's surviving
                      spouse or, if the Participant is not survived by a spouse,
                      to the representative of the Participant's estate.

               (iii)  The automatic Beneficiaries specified above and, unless
                      the designation otherwise specifies, the Beneficiaries
                      designated by the Participant, become fixed as of the
                      Participant's death so that, if a Beneficiary survives the
                      Participant but dies before the receipt of the payment due
                      such Beneficiary, the payment will be made to the
                      representative of such Beneficiary's estate. Any
                      designation of a Beneficiary by name that is accompanied
                      by a description of relationship or only by statement of
                      relationship to the Participant is effective only to
                      designate the person or persons standing in such
                      relationship to the Participant at the Participant's
                      death.

               (iv)   A beneficiary designation made pursuant to the provisions
                      of the Prior Plan and in effect at the close of business
                      on December 31, 2000 will remain in effect under the Plan
                      until changed or revoked pursuant to the Plan.

4.4     NONDEDUCTIBILITY.

        If the Company determines in good faith that there is a reasonable
likelihood that any compensation paid to a Participant by an Affiliate for a
taxable year of the Affiliate would not be deductible by the Affiliate solely by
reason of the limitation under Code section 162(m), to the extent deemed
necessary by the Company to ensure that the entire amount of any distribution to
the Participant pursuant to the Plan is deductible, notwithstanding any other
provision of the Plan

                                       11

<PAGE>   15

or any election by the Participant to the contrary, all or any portion of the
distribution may be deferred. Any amounts deferred pursuant to this section will
continue to be credited with earnings in accordance with Section 3.3. The
deferred amounts and earnings thereon will be distributed to the Participant, or
to his or her Beneficiary in the case of the Participant's death, at the
earliest possible date, as determined by the Company in good faith, on which the
deductibility of compensation paid or payable to the Participant for the taxable
year of the Affiliate during which the distribution is made will not be limited
by Code section 162(m).

4.5     PAYMENT IN EVENT OF INCAPACITY.

        If any individual entitled to receive any payment under the Plan is, in
the judgment of the Administrator, physically, mentally or legally incapable of
receiving or acknowledging receipt of the payment, and no legal representative
has been appointed for the individual, the Administrator may (but is not
required to) cause the payment to be made to any one or more of the following as
may be chosen by the Administrator: the Beneficiary (in the case of the
incapacity of a Participant); the institution maintaining the individual; a
custodian for the individual under the Uniform Transfers to Minors Act of any
state; or the individual's spouse, children, parents, or other relatives by
blood or marriage. The Administrator is not required to see to the proper
application of any such payment and the payment completely discharges all claims
under the Plan against the Participating Employer, the Plan and Trust to the
extent of the payment.

4.6     SUSPENSION.

        If a Participant who is receiving installment payments again becomes an
employee of an Affiliate, the installment payments will stop. The remaining
balance of the Participant's Account will be distributed upon the Participant's
subsequent Severance or Disability in accordance with Article 4 without regard
to any election made pursuant to Section 4.2(b)(ii) prior to the Participant's
last preceding Retirement or Disability.


                                       12

<PAGE>   16

                                   ARTICLE 5.
                     SOURCE OF PAYMENTS; NATURE OF INTEREST

5.1     ESTABLISHMENT OF TRUST.

        A Participating Employer may establish a Trust, or may be covered by a
Trust established by another Participating Employer, with an independent
corporate trustee. The Trust must (a) be a grantor trust with respect to which
the Participating Employer is treated as the grantor for purposes of Code
section 677, (b) not cause the Plan to be funded for purposes of Title I of
ERISA and (c) provide that the Trust assets will, upon the insolvency of a
Participating Employer, be used to satisfy claims of the Participating
Employer's general creditors. The Participating Employers may from time to time
transfer to the Trust cash, marketable securities or other property acceptable
to the Trustee in accordance with the terms of the Trust.

5.2     SOURCE OF PAYMENTS.

        (a)    Each Participating Employer will pay, from its general assets,
               the portion of any benefit pursuant to Article 4 or Section 6.3
               or 6.4 attributable to a Participant's Account with respect to
               that Participating Employer, and all costs, charges and expenses
               relating thereto.

        (b)    The Trustee will make distributions to Participants and
               Beneficiaries from the Trust in satisfaction of a Participating
               Employer's obligations under the Plan in accordance with the
               terms of the Trust. The Participating Employer is responsible for
               paying any benefits attributable to a Participant's Account with
               respect to that Participating Employer that are not paid by the
               Trust.

5.3     STATUS OF PLAN.

        Nothing contained in the Plan or Trust is to be construed as providing
for assets to be held for the benefit of any Participant or any other person or
persons to whom benefits are to be paid pursuant to the terms of the Plan, the
Participant's or other person's only interest under the Plan being the right to
receive benefits in accordance with the terms of the Plan. The Trust is
established only for the convenience of the Participating Employers and the
Participants, and no Participant has any interest in the assets of the Trust. To
the extent the Participant or any other person acquires a right to receive
benefits under the Plan or the Trust, such right is no greater than the right of
any unsecured general creditor of the Participating Employer.

5.4     NON-ASSIGNABILITY OF BENEFITS.

        The benefits payable under the Plan and the right to receive future
benefits under the Plan may not be anticipated, alienated, sold, transferred,
assigned, pledged, encumbered or subjected to any charge or legal process.


                                       13

<PAGE>   17

                                   ARTICLE 6.
                             AMENDMENT, TERMINATION

6.1     AMENDMENT.

        (a)    Right.  The Company reserves the right to amend the Plan at any
               time to any extent that it may deem advisable.

        (b)    Method. To be effective, an amendment must be stated in a written
               instrument approved in advance or ratified by the Company's Board
               and executed in the name of the Company by two of its officers.

        (c)    Binding Effect. An amendment adopted in accordance with
               Subsection (b) is binding on all interested parties as of the
               effective date stated in the amendment; provided, however, that
               no amendment may retroactively deprive any Participant, or the
               Beneficiary of a deceased Participant, of any benefit to which he
               or she is entitled under the terms of the Plan in effect
               immediately prior to the effective date of the amendment or the
               date on which the amendment is adopted, whichever is later.

        (d)    Prime Rate Investment Fund. An amendment which changes the method
               of crediting earnings described in Section 3.3(g)(ii) will be
               effective only if the Company's Board determines in good faith
               that on the date on which the amendment is approved by the Board,
               it is reasonably likely that, in the long run, the new method
               will not result in materially lower earnings credits than the
               method described in Section 3.3(g)(ii).

        (e)    Applicability to Participants Who Have Experienced a Severance or
               Disability. The provisions of the Plan in effect on a
               Participant's Severance date or Disability will, except as
               otherwise expressly provided by a subsequent amendment, continue
               to apply to such Participant.

6.2     TERMINATION OF PARTICIPATION.

        Notwithstanding any other provision of the Plan to the contrary, if
determined by the Administrator to be necessary to ensure that the Plan is
exempt from ERISA to the extent contemplated by Section 1.3, or upon the
Administrator's determination that a Participant's interest in the Plan has been
or is likely to be includable in the Participant's gross income for federal
income tax purposes prior to the actual payment of benefits pursuant to the
Plan, the Administrator may take any or all of the following steps:

        (a)    terminate the Participant's future participation in the Plan;

        (b)    cause the Participant's entire interest in the Plan to be
               distributed to the Participant in the form of an immediate lump
               sum cash payment in an amount determined in accordance with
               Section 4.2(c); and/or


                                       14

<PAGE>   18

        (c)    transfer the benefits that would otherwise be payable pursuant to
               the Plan for all or any of the Participants to a new plan that is
               similar in all material respects (other than those which require
               the action in question to be taken.)

6.3     TERMINATION.

        The Company reserves the right to terminate the Plan in its entirety at
any time. Each Participating Employer reserves the right to cease its
participation in the Plan at any time. The Plan will terminate in its entirety
or with respect to a particular Participating Employer as of the date specified
by the Company or such Participating Employer in a written instrument adopted in
the same manner as an amendment. Upon the termination of the Plan in its
entirety or with respect to any Participating Employer, the Company or
Participating Employer, as the case may be, will either cause (a) any benefits
to which Participants have become entitled prior to the effective date of the
termination to continue to be paid in accordance with the provisions of Article
4 or (b) the entire interest in the Plan of any or all Participants, or the
Beneficiaries of any or all deceased Participants, to be distributed in the form
of an immediate lump sum cash payment in an amount determined in accordance with
Section 4.2(c).


                                       15

<PAGE>   19

                                   ARTICLE 7.
                  DEFINITIONS, CONSTRUCTION AND INTERPRETATION

        The definitions and rules of construction and interpretation set forth
in this article apply in construing the Plan unless the context otherwise
indicates.

7.1     ACCOUNT.

        "Account" means the bookkeeping account maintained with respect to a
Participant pursuant to Section 3.1.

7.2     ADMINISTRATOR.

        "Administrator" means the Company or the person to whom administrative
duties are delegated pursuant to the provisions of Section 8.1, as the context
requires.

7.3     AFFILIATE.

        "Affiliate" means the Company and any corporation at least a majority of
whose outstanding securities ordinarily having the right to vote at elections of
directors is owned, directly or indirectly, by the Company.

7.4     BOARD.

        "Board" means the board of directors of the Affiliate in question. When
the Plan provides for an action to be taken by the Board, the action may be
taken by any committee or individual authorized to take such action pursuant to
a proper delegation by the board of directors in question.

7.5     BENEFICIARY.

        "Beneficiary" with respect to a Participant is the person designated or
otherwise determined under the provisions of Section 4.3(e) as the distributee
of benefits payable after the Participant's death. A person designated or
otherwise determined to be a Beneficiary under the terms of the Plan has no
interest in or right under the Plan until the Participant in question has died.
A Beneficiary will cease to be such on the day on which all benefits to which
he, she or it is entitled under the Plan have been distributed.

7.6     CODE.

        "Code" means the Internal Revenue Code of 1986, as amended. Any
reference to a specific provision of the Code includes a reference to that
provision as it may be amended from time to time and to any successor provision.

7.7     COMPANY.

        "Company" means Ceridian Corporation, a Delaware corporation, to be
renamed Arbitron Inc.


                                       16

<PAGE>   20

7.8     CROSS REFERENCE.

        References within a section of the Plan to a particular subsection refer
to that subsection within the same section and references within a section or
subsection to a particular clause refer to that clause within the same section
or subsection, as the case may be.

7.9     DISABILITY.

        "Disability" means a disability for which a Participant is receiving
disability benefits pursuant to a long-term disability plan maintained by an
Affiliate or as a result of which the Participant is certified as being disabled
by the Social Security Administration and is receiving disability benefits under
the disability provisions of the Social Security Act. The Participant must
provide the Administrator with proof of his or her Disability that is
satisfactory to the Administrator. For purposes of the Plan, a Disability occurs
on the date following the Administrator's receipt of such proof on which the
Administrator determines that the Participant has experienced a Disability.

7.10    ERISA.

        "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended. Any reference to a specific provision of ERISA includes a reference to
that provision as it may be amended from time to time and to any successor
provision.

7.11    GOVERNING LAW.

        To the extent that state law is not preempted by the provisions of
ERISA, or any other laws of the United States, all questions pertaining to the
construction, validity, effect and enforcement of the Plan will be determined in
accordance with the internal, substantive laws of the State of Minnesota without
regard to the conflict of law rules of the State of Minnesota or any other
jurisdiction.

7.12    HEADINGS.

        The headings of articles and sections are included solely for
convenience of reference; if there exists any conflict between such headings and
the text of the Plan, the text will control.

7.13    NUMBER AND GENDER.

        Wherever appropriate, the singular may be read as the plural, the plural
may be read as the singular and one gender may be read as the other gender.

7.14    PARTICIPANT.

        "Participant" means an individual who (a) on December 31, 2000, was a
participant in the Prior Plan and whose account balance under the Prior Plan as
of the close of business on December 31, 2000 (other than the portion of such
account balance, if any, scheduled to be distributed pursuant to the Prior Plan
on January 1, 2001) was credited to his or her Account as of January 1, 2001 and
(b) has not ceased to be a Participant pursuant to Section 2.3.


                                       17

<PAGE>   21

7.15    PARTICIPATING EMPLOYER.

        "Participating Employer" means the Company and any other Affiliate that
has adopted the Plan, or all of them collectively, as the context requires. An
Affiliate will cease to be a Participating Employer upon a termination of the
Plan as to its employees and the satisfaction in full of all of its obligations
under the Plan or upon its ceasing to be an Affiliate.

7.16    PLAN.

        "Plan" means the Arbitron Executive Investment Plan, as from time to
time amended or restated.

7.17    PLAN RULES.

        "Plan Rules" are rules, policies, practices or procedures adopted by the
Administrator pursuant to Section 8.2.

7.18    PRIOR PLAN.

        "Prior Plan" means the Ceridian Corporation Executive Investment Plan.

7.19    RETIREMENT.

        "Retirement" means a Participant's Severance after his or her

        (a)    attainment of age 65 or

        (b)    attainment of age 55 and completion of at least 15 years of
               "vesting service" (within the meaning of the Company's 401(k)
               Plan as in effect at the time in question).

7.20    SEVERANCE.

        "Severance" means the date on which a Participant has completely severed
his or her employment relationship with all Affiliates.

7.21    TRUST.

        "Trust" means any trust or trusts established by a Participating
Employer pursuant to Section 5.1.

7.22    TRUSTEE.

        "Trustee" means the independent corporate trustee or trustees that at
the relevant time has or have been appointed to act as Trustee of the Trust.


                                       18

<PAGE>   22

7.23    UNFORESEEABLE EMERGENCY.

        "Unforeseeable Emergency" means an unanticipated emergency that is
caused by an event beyond the Participant's or Beneficiary's control resulting
in a severe financial hardship that cannot be satisfied through other means. The
existence of an unforeseeable emergency will be determined by the Administrator.

7.24    VALUATION DATE.

        "Valuation Date" means, prior to the first Valuation Date in calendar
year 2001, the close of business on December 31, 2000 with respect to a
Participant's account balance under the Prior Plan credited to his or her
Account as of January 1, 2001, and, thereafter, the last day of each calendar
month on which the New York Stock Exchange is open for regular business and any
interim dates selected by the Administrator.


                                       19

<PAGE>   23

                                   ARTICLE 8.
                                 ADMINISTRATION

8.1     ADMINISTRATOR.

        The general administration of the Plan and the duty to carry out its
provisions is vested in the Company. The Company may delegate such duty or any
portion thereof to a named person or persons and may from time to time revoke
such authority and delegate it to another person or persons.

8.2     PLAN RULES AND REGULATIONS.

        The Administrator has the discretionary power and authority to make such
Plan Rules as the Administrator determines to be consistent with the terms, and
necessary or advisable in connection with the administration, of the Plan and to
modify or rescind any such Plan Rules.

8.3     ADMINISTRATOR'S DISCRETION.

        The Administrator has the discretionary power and authority to make all
determinations necessary for administration of the Plan, except those
determinations that the Plan requires others to make, and to construe,
interpret, apply and enforce the provisions of the Plan and Plan Rules whenever
necessary to carry out its intent and purpose and to facilitate its
administration, including, without limitation, the discretionary power and
authority to remedy ambiguities, inconsistencies, omissions and erroneous
benefit calculations. In the exercise of its discretionary power and authority,
the Administrator will treat all similarly situated persons uniformly.

8.4     SPECIALIST'S ASSISTANCE.

        The Administrator may retain such actuarial, accounting, legal, clerical
and other services as may reasonably be required in the administration of the
Plan, and may pay reasonable compensation for such services. All costs of
administering the Plan will be paid by the Participating Employers.

8.5     INDEMNIFICATION.

        The Participating Employers jointly and severally agree to indemnify and
hold harmless, to the extent permitted by law, each director, officer, and
employee of any Affiliates against any and all liabilities, losses, costs and
expenses (including legal fees) of every kind and nature that may be imposed on,
incurred by, or asserted against such person at any time by reason of such
person's services in connection with the Plan, but only if such person did not
act dishonestly or in bad faith or in willful violation of the law or
regulations under which such liability, loss, cost or expense arises. The
Participating Employers have the right, but not the obligation, to select
counsel and control the defense and settlement of any action for which a person
may be entitled to indemnification under this provision.


                                       20

<PAGE>   24

8.6     BENEFIT CLAIM PROCEDURE.

        (a)    If a request for a benefit by a Participant or Beneficiary of a
               deceased Participant is denied in whole or in part, he or she
               may, not later than 30 days after the denial, file with the
               Administrator a written claim objecting to the denial.

        (b)    The Administrator, not later than 90 days after receipt of such
               claim, will render a written decision to the claimant on the
               claim. If the claim is denied, in whole or in part, such decision
               will include the reason or reasons for the denial; a reference to
               the Plan provisions on which the denial is based; a description
               of any additional material or information, if any, necessary for
               the claimant to perfect his or her claim; an explanation as to
               why such information or material is necessary; and an explanation
               of the Plan's claim procedure.

        (c)    The claimant may file with the Administrator, not later than 60
               days after receiving the Administrator's written decision, a
               written notice of request for review of the Administrator's
               decision, and the claimant or his or her representative may
               thereafter review relevant Plan documents which relate to the
               claim and may submit written comments to the Administrator.

        (d)    Not later than 60 days after receipt of such review request, the
               Administrator will render a written decision on the claim, which
               decision will include the specific reasons for the decision,
               including a reference to the Plan's specific provisions where
               appropriate.

        (e)    The foregoing 90- and 60-day periods during which the
               Administrator must respond to the claimant may be extended by up
               to an additional 90- or 60 days, respectively, if special
               circumstances beyond the Administrator's control so require and
               notice of such extension is given to the claimant prior to the
               expiration of such initial 90- or 60-day period, as the case may
               be.

        (f)    A Participant or Beneficiary must exhaust the procedure described
               in this section before making any claim of entitlement to
               benefits pursuant to the Plan in any court or other proceeding.

8.7     DISPUTES.

        (a)    In the case of a dispute between a Participant or his or her
               Beneficiary and a Participating Employer, the Administrator or
               other person relating to or arising from the Plan, the United
               States District Court for the District of Minnesota is a proper
               venue for any action initiated by or against the Participating
               Employer, Administrator or other person and such court will have
               personal jurisdiction over any Participant or Beneficiary named
               in the action.

        (b)    Regardless of where an action relating to or arising from the
               participation in the Plan by any Participant is pending, the law
               as stated and applied by the United States Court of Appeals for
               the Eighth Circuit or the United States District Court for the
               District of Minnesota will apply to and control all actions
               relating to the


                                       21

<PAGE>   25

               Plan brought against the Plan, a Participating Employer, the
               Administrator or any other person or against any such Participant
               or his or her Beneficiary.



                                       22

<PAGE>   26

                                   ARTICLE 9.
                                  MISCELLANEOUS

9.1     WITHHOLDING AND OFFSETS.

        The Participating Employers and the Trustee retain the right to withhold
from any compensation, deferral and/or benefit payment pursuant to the Plan, any
and all income, employment, excise and other tax as the Participating Employers
or Trustee deems necessary and the Participating Employers may offset against
amounts then payable to a Participant or Beneficiary under the Plan any amounts
then owing to the Participating Employers by such Participant or Beneficiary.

9.2     OTHER BENEFITS.

        Neither amounts deferred nor amounts paid pursuant to the Plan
constitute salary or compensation for the purpose of computing benefits under
any other benefit plan, practice, policy or procedure of a Participating
Employer unless otherwise expressly provided thereunder.

9.3     NO WARRANTIES REGARDING TAX TREATMENT.

        The Participating Employers make no warranties regarding the tax
treatment to any person of any deferrals or payments made pursuant to the Plan
and each Participant will hold the Administrator and the Participating Employers
and their officers, directors, employees, agents and advisors harmless from any
liability resulting from any tax position taken in good faith in connection with
the Plan.

9.4     NO RIGHTS TO CONTINUED SERVICE CREATED.

        Neither the establishment of nor participation in the Plan gives any
individual the right to continued employment or limits the right of the
Participating Employer to discharge, transfer, demote, modify terms and
conditions of employment or otherwise deal with any individual without regard to
the effect which such action might have on him or her with respect to the Plan.

9.5     SPECIAL PROVISIONS.

        Special provisions of the Plan applicable only to certain Participants
may be set forth on an exhibit to the Plan adopted in the same manner as an
amendment to the Plan. In the event of a conflict between the terms of the
exhibit and the terms of the Plan, the exhibit controls. Except as otherwise
expressly provided in the exhibit, the generally applicable terms of the Plan
control all matters not covered by the exhibit.

9.6     SUCCESSORS.

        Except as otherwise expressly provided in the Plan, all obligations of
the Participating Employers under the Plan are binding on any successor to the
Participating Employer whether the existence of such successor is the result of
a direct or indirect purchase, merger, consolidation or otherwise of all or
substantially all of the business and/or assets of the Participating Employer.


                                       23