Document:

exv10w02

 

EXHIBIT 10.02

AMENDMENT NO. 4 TO RECEIVABLES PURCHASE AGREEMENT

AND

AMENDMENT NO. 2 TO PERFORMANCE UNDERTAKING

               THIS AMENDMENT (this “Amendment”) is entered into as of September 30, 2004, among
Ceridian Corporation, a Delaware corporation (“Ceridian” or “Performance
Guarantor”), Comdata Funding Corporation, a Delaware corporation (“Seller”), Comdata
Network, Inc., a Maryland corporation (the “Servicer”) (the Servicer together with Seller,
the “Seller Parties” and each a “Seller Party”), each Financial Institution party
hereto (the “Financial Institutions”), Jupiter Securitization Corporation
(“Jupiter” and, together with the Financial Institutions, the “Purchasers”), and
Bank One, NA (Main Office Chicago), as agent for the Purchasers (the “Agent”).

RECITALS

     Each of the parties hereto other than Ceridian entered into that certain
Receivables Purchase Agreement, dated as of June 24, 2002, as amended by Amendment
No. 1 thereto, dated as of June 20, 2003, Amendment No. 2, dated as of June 17,
2004, and Amendment No. 3, dated as of August 4, 2004 (such agreement, as so
amended, the “Purchase Agreement”).

     Performance Guarantor entered into that certain Performance Undertaking dated
as of June 24, 2002, in favor of Seller, as amended by Amendment No. 1 thereto,
dated as of August 4, 2004 (such undertaking, as so amended, the “Performance
Undertaking”).

     Ceridian has advised the Agent that because of the review of certain
capitalization and expensing procedures as disclosed in Ceridian’s press releases
dated July 19, 2004 and August 5, 2004, it has determined that it will not be able
to file with the Securities and Exchange Commission (“SEC”) its quarterly
report on Form 10-Q with respect to the fiscal quarter ending June 30, 2004 within
the time period contemplated by Amendment No. 3 to Receivables Purchase Agreement
and Amendment No. 1 to Performance Undertaking dated as of August 4, 2004, and
Ceridian and the Seller Parties have requested that the Agent and the Purchasers
agree to certain amendments of the Purchase Agreement and the Performance
Undertaking to accommodate such determination.

     Ceridian has further advised the Agent that the above-described accounting
review could prospectively require Ceridian to restate past financial statement and
related reports, and Ceridian has requested that the Agent and the Purchasers agree
to certain amendments of the Purchase Agreement and the Performance Undertaking to
accommodate any prospective determination to make any such restatement.

 

 

     Subject to the terms and conditions hereof, each of the parties hereto now
desires to amend the Purchase Agreement and the Performance Undertaking as
particularly described herein.

AGREEMENT

               NOW, THEREFORE, in consideration of the premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

               Section 1. Definitions Used Herein. Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth for such terms in the Purchase
Agreement or the Performance Undertaking, as applicable.

               Section 2. Amendments. Subject to the terms and conditions hereinafter set forth:

               (a) The definition of “Material Adverse Effect” appearing in Exhibit I to the
Purchase Agreement is hereby amended to add the following new sentence at the end thereof:

     It is understood and agreed that none of the following, individually or in the
aggregate, will constitute a Material Adverse Effect: (a) any delay in filing
Ceridian’s quarterly report on Form 10-Q filed with the SEC for the fiscal quarter
of Ceridian ending June 30, 2004, which does not extend to a date later than
November 9, 2004; (b) any determination by Ceridian made on or before November 9,
2004, that a restatement is required of financial reports or other information
previously required to be delivered under this Agreement with respect to any period
ending before June 30, 2004, as a result of the review of certain capitalization and
expensing procedures at its Human Resources Solutions business, as disclosed in
Ceridian’s press releases dated July 19, 2004 and August 5, 2004 (the
“Review”); (c) any such actual restatement which is furnished to the Agent
on or before November 9, 2004, to the extent such restatement is not asserted in
writing by the Agent on or before November 24, 2004 to be a material restatement of
such previously delivered financial reports or other information; and (d) any effect
of the Review on the financial statements furnished to the Agent with respect to the
fiscal quarter ending June 30, 2004 which are furnished to the Agent on or before
November 9, 2004, to the extent such effect is not asserted in writing by the Agent
on or before November 24, 2004 to be a material restatement of such previously
delivered financial reports or other information.

               (b) The definition of “Material Adverse Effect” appearing in Section 1 of the
Performance Undertaking is hereby amended to add the following new sentence at the end thereof:

     It is understood and agreed that none of the following, individually or in the
aggregate, will constitute a Material Adverse Effect: (a) any delay in filing
Performance Guarantor’s quarterly report on Form 10-Q filed with the SEC for

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the fiscal quarter of Performance Guarantor ending June 30, 2004, which does
not extend to a date later than November 9, 2004; (b) any determination by
Performance Guarantor made on or before November 9, 2004, that a restatement is
required of financial reports or other information previously required to be
delivered under this Undertaking with respect to any period ending before June 30,
2004, as a result of the review of certain capitalization and expensing procedures
at its Human Resources Solutions business, as disclosed in Performance Guarantor’s
press releases dated July 19, 2004 and August 5, 2004 (the “Review”); (c)
any such actual restatement which is furnished to the Agent on or before November 9,
2004, to the extent such restatement is not asserted in writing by the Recipient (or
the Agent, as its assignee) on or before November 24, 2004 to be a material
restatement of such previously delivered financial reports or other information; and
(d) any effect of the Review on the financial statements furnished to the Recipient
and the Agent with respect to the fiscal quarter ending June 30, 2004 which are
furnished to the Recipient and the Agent on or before November 9, 2004, to the
extent such effect is not asserted in writing by the Recipient (or the Agent, as its
assignee) on or before November 24, 2004 to be a material restatement of such
previously delivered financial reports or other information.

               (c) Sections 5.1(f) and 9.1(b) of the Purchase Agreement are hereby amended by inserting the
following proviso before the period at the end thereof:

     ; provided however, that no representation or warranty made which is based on
or related to any previously furnished reports or information required to be
restated as a result of the Review will be deemed to have been incorrect in any
material respect when made or deemed made, for all purposes under this Agreement,
(x) notwithstanding that Ceridian determines on or before November 9, 2004 that it
is required as a result of the Review to restate its books and records, financial
reports or related information furnished under this Agreement with regard to any
period ending before June 30, 2004; or (y) if any such actual restatement is
furnished to the Agent, to the extent such restatement is not asserted in writing
by the Agent to be a material restatement of such previously delivered financial
reports or other information.

               (d) Section 6(e) of the Performance Undertaking is hereby amended by inserting the following
proviso before the period at the end thereof:

     ; provided however, that no representation or warranty made which is based on
or related to any previously furnished reports or information required to be
restated as a result of the Review will be deemed to have been incorrect in any
material respect when made or deemed made, for all purposes under this Agreement,
(x) notwithstanding that the Performance Guarantor determines on or before November
9, 2004 that it is required as a result of the Review to restate its books and
records, financial reports or related information furnished under this Undertaking
with regard to any period ending before June 30, 2004; or (y) if any such actual
restatement is furnished to the Recipient (or to the Agent, as its

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assignee), to the extent such restatement is not asserted in writing by the
Recipient (or to the Agent, as its assignee) to be a material restatement of such
previously delivered financial reports or other information.

               (e) Section 7.1(a) of the Purchase Agreement is hereby amended by (i) changing the period at
the end of the final subsection thereof to a semi-colon, and (ii) inserting the following provisos
after such final subsection (it being understood that these provisos are intended to modify all
subsections in Section 7.1(a)):

     provided, however, that with respect to the fiscal quarter of Ceridian ending
June 30, 2004, the Seller Parties will not be required to deliver the reports or
other information described above in this Section 7.1(a) until November 9, 2004;
provided further, that it will not be a violation of this Section 7.1(a) if (x)
Ceridian determines on or before November 9, 2004 that a restatement of financial
reports of Ceridian or other information previously required to be delivered under
this Section 7.1(a) with respect to any period ending before June 30, 2004, is
required as a result of the Review or (y) any such actual restatement is furnished
to the Agent, to the extent such restatement is not asserted in writing by the Agent
to be a material restatement of such previously delivered financial reports or other
information.

               (f) Section 7 of the Performance Undertaking is hereby amended by (i) changing the period at
the end of the final subsection thereof to a semi-colon, and (ii) inserting the following provisos
after such final subsection (it being understood that these provisos are intended to modify all
subsections of Section 7):

     provided, however, that with respect to the fiscal quarter of Performance
Guarantor ending June 30, 2004, Performance Guarantor will not be required to
deliver the reports or other information described above in this Section 7 until
November 9, 2004; provided further, that it will not be a violation of this Section
7 if (x) Performance Guarantor determines on or before November 9, 2004 that a
restatement of financial reports of Performance Guarantor or other information
previously required to be delivered under this Section 7 with respect to any period
ending before June 30, 2004, is required as a result of the Review or (y) any such
actual restatement is furnished to the Recipient (or the Agent, as its assignee) to
the extent such restatement is not asserted in writing by the Recipient (or the
Agent, as its assignee) to be a material restatement of such previously delivered
financial reports or other information.

               (g) Sections 7(a) and 7(b) of the Performance Undertaking are hereby amended by inserting the
following proviso before the period at the end thereof:

     ; provided however, that this requirement will not be measured with respect to
the fiscal quarter ending June 30, 2004 until the financial reports required under
Section 7(c) with respect to such period are furnished in accordance with the
provisos at the end of this Section 7.

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               Section 3. Condition to Effectiveness of this Amendment. This Amendment shall become
effective on the date when each of the following conditions precedent has been satisfied, to the
extent satisfied on or prior to September 30, 2004:

               (a) Amendment. The Agent shall have received, on or before the date hereof,
executed counterparts of this Amendment, duly executed by each of the parties hereto.

               (b) Representations and Warranties. As of the date hereof, after giving effect to
this Amendment:

	               (i)  	each of the representations and warranties of the Seller
Parties contained in the Purchase Agreement or any other Transaction Document
to which any Seller Party is a party, shall be true and correct as though made
on and as of the date hereof, except for such representations that speak only
as of an earlier date, in which case they were true and correct as of such date
(and by its execution hereof, each of the Seller Parties shall be deemed to
have represented and warranted such); and

	               (ii)  	each of the representations and warranties of the Performance
Guarantor contained in the Performance Undertaking shall be true and correct as
though made on and as of the date hereof, except for such representations that
speak only as of an earlier date, in which case they were true and correct as
of such date (and by its execution hereof, the Performance Guarantor shall be
deemed to have represented and warranted such).

               (c) No Amortization Event. As of the date hereof, after giving effect to this
Amendment, no Amortization Event or Potential Amortization Event shall have occurred and be
continuing (and by its execution hereof, each of the Seller Parties shall be deemed to have
represented and warranted such).

               Section 4. Miscellaneous.

               (a) Effect; Ratification. The amendments set forth herein are effective solely for
the purposes set forth herein and shall be limited precisely as written, and shall not be deemed to
(i) be a consent to any amendment, waiver or modification of any other term or condition of the
Performance Undertaking, the Purchase Agreement or of any other instrument or agreement referred to
therein or (ii) prejudice any right or remedy which any Purchaser or the Agent may now have or may
have in the future under or in connection with the Performance Undertaking or Purchase Agreement as
amended hereby or any other instrument or agreement referred to therein. Each reference in the
Purchase Agreement to “this Agreement,” “herein,” “hereof” and words of like import and each
reference in the other Transaction Documents to the Purchase Agreement or to the “Receivables
Purchase Agreement” or to the “Performance Undertaking” shall mean the Purchase Agreement or
Performance Undertaking, as the case may be, each as amended hereby. Each reference in the
Performance Undertaking to “this Undertaking,” “herein,” “hereof” and words of like import and each
reference in the other Transaction Documents to the Performance Undertaking or to the “Purchase
Agreement” or “Receivables Purchase Agreement” shall mean the Performance Undertaking or Purchase
Agreement, as

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applicable, each as amended hereby. This Amendment shall be construed in connection with and
as part of the Performance Undertaking and Purchase Agreement and all terms, conditions,
representations, warranties, covenants and agreements set forth in the Performance Undertaking or
Purchase Agreement and each other instrument or agreement referred to therein, except as herein
amended, are hereby ratified and confirmed and shall remain in full force and effect.

               (b) Transaction Documents. This Amendment is a Transaction Document executed
pursuant to the Purchase Agreement and the Performance Undertaking and shall be construed,
administered and applied in accordance with the terms and provisions thereof.

               (c) Costs, Fees and Expenses. Seller agrees to reimburse the Agent and each
Purchaser on demand for all costs, fees and expenses (including, without limitation, the reasonable
fees and expenses of counsels to the Agent and each Purchaser) incurred in connection with the
preparation, execution and delivery of this Amendment.

               (d) Counterparts. This Amendment may be executed in any number of counterparts, each
such counterpart constituting an original and all of which when taken together shall constitute one
and the same instrument.

               (e) Severability. Any provision contained in this Amendment that is held to be
inoperative, unenforceable or invalid in any jurisdiction shall, as to that jurisdiction, be
inoperative, unenforceable or invalid without affecting the remaining provisions of this Amendment
in that jurisdiction or the operation, enforceability or validity of such provision in any other
jurisdiction.

               (f) GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF ILLINOIS.

               (g) WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT, ANY
DOCUMENT EXECUTED BY ANY SELLER PARTY OR PERFORMANCE GUARANTOR PURSUANT TO THIS AMENDMENT OR THE
RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER.

(Signature Pages Follow)

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered
by their respective duly authorized officers or signatories as of the date first written above.

COMDATA FUNDING CORPORATION, as Seller

	 	 	 	 	 
	By:	 	
/s/ David B. Kuhnau

	 	 
	Name: David B. Kuhnau

Title: Vice President	 	 

COMDATA NETWORK, INC., as Servicer

	 	 	 	 	 
	By:	 	
/s/ Gary A. Krow

	 	 
	Name: Gary A. Krow

Title: President	 	 

CERIDIAN CORPORATION, as Performance Guarantor

	 	 	 	 	 
	By:	 	
/s/ David B. Kuhnau

	 	 
	Name: David B. Kuhnau

Title: Vice President and Treasurer	 	 

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JUPITER SECURITIZATION CORPORATION

	 	 	 	 	 
	By:	 	
/s/ Ronald J. Atkins

	 	 
	Name: Ronald J. Atkins

Title: Authorized Signer	 	 

BANK ONE, NA (MAIN OFFICE CHICAGO),

as a Financial Institution and as Agent

	 	 	 	 	 
	By:	 	
/s/ Ronald J. Atkins

	 	 
	Name: Ronald J. Atkins

Title: Director	 	 

8exv10w03

 

EXHIBIT 10.03

SECOND AMENDMENT TO CREDIT AGREEMENT

     THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of August 4,
2004, is entered into by and among CERIDIAN CORPORATION, a Delaware corporation formerly known as
New Ceridian Corporation (the “Borrower”), the several financial institutions party to the
Credit Agreement defined below (each a “Lender” and, collectively, the “Lenders”)
and BANK OF AMERICA, N.A., as administrative agent for itself and the other Lenders (in such
capacity, the “Administrative Agent”).

RECITALS

     A. The Borrower, each Lender and the Administrative Agent are parties to that certain
Credit Agreement dated as of January 31, 2001 as amended (the “Credit Agreement”),
pursuant to which the Administrative Agent and the Lenders have extended certain credit
facilities to the Borrower.

     B. The Borrower has advised the Lenders that because of the review of certain
capitalization and expensing procedures as disclosed in the Borrower’s press release dated July
19, 2004 it may prospectively determine that it will not be able to timely file with the SEC
its quarterly report on Form 10-Q with respect to the fiscal quarter ending June 30, 2004, and
the Borrower has requested that the Lenders agree to certain amendments of the Credit Agreement
to accommodate any such prospective determination.

     C. The Borrower has further advised the Lenders that the above-described accounting review
could prospectively require the Borrower to restate past financial statement and related
reports, and the Borrower has requested that the Lenders agree to certain amendments of the
Credit Agreement to accommodate any prospective determination to make any such restatement.

     D. The Lenders are willing to amend the Credit Agreement subject to the terms and
conditions of this Amendment.

     NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein
shall have the meanings, if any, assigned to them in the Credit Agreement.

     2. Amendments to Credit Agreement. The Credit Agreement shall be amended as follows,
effective as of the Effective Date:

          (a) The definition of “Material Adverse Effect” appearing in Section 1.01 of the
Credit Agreement shall be hereby amended by adding the following new sentence at the end thereof:

 

 

     It is understood and agreed that none of the following, individually or in the
aggregate, will constitute a Material Adverse Effect: (a) any delay in filing the Borrower’s
quarterly report on Form 10-Q filed with the SEC for the fiscal quarter of the Borrower
ending June 30, 2004, which does not extend to a date later than September 30, 2004; (b) any
determination by the Borrower made on or before September 30, 2004, that a restatement is
required of financial reports or other information previously required to be delivered under
this Agreement with respect to any period ending before June 30, 2004, as a result of the
review of certain capitalization and expensing procedures at its Human Resources Solutions
business, as disclosed in the Borrower’s press release dated July 19, 2004 (the
“Review”); (c) any such actual restatement which is furnished to the Lenders on or
before September 30, 2004, to the extent such restatement is not asserted in writing by the
Required Lenders on or before October 15, 2004 to constitute a Material Adverse Effect; and
(d) any effect of the Review on the financial statements furnished to the Lenders with
respect to the fiscal quarter ending June 30, 2004 which are furnished to the Lenders on or
before September 30, 2004, to the extent such effect is not asserted in writing by the
Required Lenders on or before October 15, 2004 to constitute a Material Adverse Effect.

          (b) Section 6.01(b) of the Credit Agreement shall be amended by inserting the
following proviso before the period at the end thereof:

	 	   	; provided however, that with respect to the fiscal quarter of the Borrower ending
June 30, 2004, the Borrower will not be required to deliver the reports or other information
described above in this Section 6.01(b) until September 30, 2004; provided further,
that it will not be a violation of this Section 6.01(b) if (x) the Borrower
determines on or before September 30, 2004 that a restatement of financial reports of the
Borrower or other information previously required to be delivered under this Section
6.01(b) with respect to any period ending before June 30, 2004, is required as a result
of the Review or (y) any such actual restatement is furnished to the Lenders, to the extent
such restatement is not asserted in writing by the Required Lenders to constitute a material
restatement of such previously delivered financial reports and other information.

          (c) Section 6.02(a) of the Credit Agreement shall be amended by inserting the
following proviso before the period at the end thereof:

	 	   	; provided however, that it will not be a violation of this Section 6.02(a) if
(x) the Borrower determines on or before September 30, 2004 that a restatement of financial
reports of the Borrower or other information previously required to be furnished under this
Section 6.02(a) with respect to any period ending before June 30, 2004, is required as
a result of the Review; or (y) any such actual restatement is furnished to the Lenders, to the
extent such restatement is not asserted in writing by the Required Lenders to constitute a
material restatement of such previously delivered financial reports and other information.

          (d) Section 6.09 of the Credit Agreement shall be amended by inserting the
following proviso before the period at the end of the first sentence thereof:

	 	   	; provided however, that the Borrower will not be deemed to have breached or violated
this Section 6.09 if (x) the Borrower determines on or before September 30, 2004 that
it is

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	 	   	required as a result of the Review to restate its books and records of account for any period
ending before June 30, 2004; or (y) any such actual restatement is furnished to the Lenders,
to the extent such restatement is not asserted in writing by the Required Lenders to
constitute a material restatement of such books and records of account.

          (e) Sections 7.09 and 7.10 shall be amended by inserting the following proviso before
the period at the end thereof:

	 	   	; provided however, that this requirement will not be measured with respect to the
fiscal quarter ending June 30, 2004 until the financial reports required under Section
6.01(b) with respect to such period are furnished in accordance with Section
6.01(b).

          (f) Section 8.01(d) shall be amended by inserting the following proviso before the
semi-colon at the end thereof:

	 	   	;provided however, that no representation or warranty made by the Borrower which is
based on or related to any previously furnished reports or information required to be
restated as a result of the Review will be deemed to have been incorrect in any material
respect when made or deemed made, for all purposes under this Agreement, (x) notwithstanding
that the Borrower determines on or before September 30, 2004 that it is required as a
result of the Review to restate its books and records, financial reports or related
information furnished under this Agreement with regard to any period ending before June 30,
2004; or (y) if any such actual restatement is furnished to the Lenders, to the extent such
restatement is not asserted in writing by the Required Lenders to constitute a material
restatement of such previously delivered reports or information.

     3. Representations and Warranties. The Borrower hereby represents and warrants to the
Administrative Agent and the Lenders as follows:

          (a) No Default or Event of Default has occurred and is continuing.

          (b) The execution, delivery and performance by the Borrower of this Amendment have been duly
authorized by all necessary corporate and other action and do not and will not require any
registration with, consent or approval of, notice to or action by, any Person (including any
Governmental Authority) in order to be effective and enforceable. The Credit Agreement as amended
by this Amendment constitutes the legal, valid and binding obligation of the Borrower, enforceable
against it in accordance with its respective terms, without defense, counterclaim or offset.

          (c) All representations and warranties of the Borrower contained in Article V of the
Credit Agreement are true and correct as of the Effective Date, except to the extent such
representations and warranties specifically refer to an earlier date, in which case they shall be
true and correct as of such earlier date.

          (d) The Borrower is entering into this Amendment on the basis of its own investigation and
for its own reasons, without reliance upon the Administrative Agent and the Lenders or any other
Person.

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     4. Effective Date. This Amendment will become effective on the date when each of the
conditions precedent set forth in this Section 4 has been satisfied (such date, the
“Effective Date”), to the extent satisfied on or prior to August 9, 2004:

          (a) The Administrative Agent shall have received from each of the Borrower and the Required
Lenders a duly executed original (or, if elected by the Administrative Agent, an executed facsimile
copy) counterpart to this Amendment.

          (b) The Administrative Agent shall have received from the Borrower a certificate executed by
the secretary, deputy secretary or assistant secretary of the Borrower providing satisfactory
evidence of the authorization of the execution, delivery and performance by the Borrower of this
Amendment.

          (c) The Administrative Agent shall have received from the Borrower one or more certificates
executed by a Responsible Officer of the Borrower dated as of the Effective Date stating that (i)
all representations and warranties contained herein are true and correct on and as of the Effective
Date as though made on and as of such date and (ii) the Borrower has determined that it will not be
able to timely file with the SEC its Form 10-Q with respect to the fiscal quarter ending June 30,
2004 by reason of the accounting review described in Recital B. hereof.

          (d) The Borrower shall have paid all Attorney Costs of the Administrative Agent to the extent
invoiced prior to August 5, 2004, plus such additional amounts of Attorney Costs as shall
constitute the Administrative Agent’s reasonable estimate of Attorney Costs incurred or to be
incurred by it through the closing proceedings related to this Amendment (provided that
such estimate shall not thereafter preclude a final settling of accounts between the Borrower and
the Administrative Agent).

          (e) The Administrative Agent shall have received, in form and substance satisfactory to it,
such additional approvals, consents, opinions, documents and other information as the
Administrative Agent may request prior to August 5, 2004.

     5. Reservation of Rights. The Borrower acknowledges and agrees that the execution and
delivery by the Administrative Agent and the Required Lenders of this Amendment shall not (a) be
deemed to create a course of dealing or otherwise obligate the Administrative Agent or the Lenders
to execute similar amendments under the same or similar circumstances in the future or (b) be
deemed to create any implied waiver of any right or remedy of the Administrative Agent or any
Lender with respect to any term or provision of any Loan Document.

     6. Miscellaneous.

          (a) Except as herein expressly amended, all terms, covenants and provisions of the Credit
Agreement are and shall remain in full force and effect and all references therein to such Credit
Agreement shall henceforth refer to the Credit Agreement as amended by this Amendment. This
Amendment shall be deemed incorporated into, and a part of, the Credit Agreement.

4

 

          (b) This Amendment shall be binding upon and inure to the benefit of the parties hereto and
thereto and their respective successors and assigns. No third party beneficiaries are intended in
connection with this Amendment.

          (c) THIS AMENDMENT IS SUBJECT TO THE PROVISIONS OF SECTIONS 10.17 AND 10.18 OF
THE CREDIT AGREEMENT RELATING TO GOVERNING LAW AND WAIVER OF RIGHT TO TRIAL BY JURY, THE PROVISIONS
OF WHICH ARE BY THIS REFERENCE HEREBY INCORPORATED HEREIN IN FULL.

          (d) This Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all such counterparts together shall constitute but one and the same
instrument. Each of the parties hereto understands and agrees that this document (and any other
document required herein) may be delivered by any party thereto either in the form of an executed
original or an executed original sent by facsimile transmission to be followed promptly by mailing
of a hard copy original, and that receipt by the Administrative Agent of a facsimile transmitted
document purportedly bearing the signature of a Lender or the Borrower shall bind such Lender or
the Borrower, respectively, with the same force and effect as the delivery of a hard copy original.
Any failure by the Administrative Agent to receive the hard copy executed original of such document
shall not diminish the binding effect of receipt of the facsimile transmitted executed original of
such document of the party whose hard copy page was not received by the Administrative Agent.

          (e) This Amendment, together with the Credit Agreement, contains the entire and exclusive
agreement of the parties hereto with reference to the matters discussed herein and therein. This
Amendment supersedes all prior drafts and communications with respect thereto. This Amendment may
not be amended except in accordance with the provisions of Section 10.01 of the Credit
Agreement.

          (f) If any term or provision of this Amendment shall be deemed prohibited by or invalid under
any applicable law, such provision shall be invalidated without affecting the remaining provisions
of this Amendment or the Credit Agreement, respectively.

          (g) The Borrower covenants to pay to or reimburse the Administrative Agent and the Lenders,
upon demand, for all out-of-pocket costs and expenses incurred in connection with the development,
preparation, negotiation, execution and delivery of this Amendment.

          (h) This Amendment shall constitute a “Loan Document” under and as defined in the Credit
Agreement.

(Remainder of page intentionally left blank)

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     IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the
date first above written.

	 	 	 	 	 
	 	 	CERIDIAN
CORPORATION,
 as the Borrower
	 
	 	 	 	 
	

	 	By:
	 	/s/ David B. Kuhnau
	

	 	 	 	 	 
	

	 	Name:
	 	David B. Kuhnau
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President and Treasurer
	

	 	 	 	 	 

(Signature Page to Amendment)
S-1

 

	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as the

Administrative Agent, a Lender and L/C Issuer
	 
	 	 	 	 
	

	 	By:
	 	/s/ B. Kenneth Burton, Jr.
	

	 	 	 	 	 
	

	 	Name:
	 	B. Kenneth Burton, Jr.
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President
	

	 	 	 	 	 

(Signature Page to Amendment)
S-2

 

	 	 	 	 	 	 
	 	 	AMSOUTH BANK, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Eric Kruse	 
	

	 	 	 	 	 
	

	 	Name:
	 	Eric Kruse	 
	

	 	 	 	 	 
	

	 	Title:
	 	Assistant Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-3

 

	 	 	 	 	 	 
	 	 	BANK ONE, N.A., as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Sabir Hashmy	 
	

	 	 	 	 	 
	

	 	Name:
	 	Sabir Hashmy	 
	

	 	 	 	 	 
	

	 	Title:
	 	Director	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-4

 

	 	 	 	 	 	 
	 	 	WACHOVIA BANK, N.A., as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Steven L. Hipsman	 
	

	 	 	 	 	 
	

	 	Name:
	 	Steven L. Hipsman	 
	

	 	 	 	 	 
	

	 	Title:
	 	Director	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-5

 

	 	 	 	 	 	 
	 	 	MELLON BANK, N.A., as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ David J. Lenckos	 
	

	 	 	 	 	 
	

	 	Name:
	 	David J. Lenckos	 
	

	 	 	 	 	 
	

	 	Title:
	 	First Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-6

 

	 	 	 	 	 	 
	 	 	PNC BANK, NATIONAL ASSOCIATION, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Luke McElhinny	 
	

	 	 	 	 	 
	

	 	Name:
	 	Luke McElhinny	 
	

	 	 	 	 	 
	

	 	Title:
	 	Assistant Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-7

 

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ John-Paul Marotta	 
	

	 	 	 	 	 
	

	 	Name:
	 	John-Paul Marotta	 
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-8

 

	 	 	 	 	 	 
	 	 	THE BANK OF TOKYO-MITSUBISHI, LTD., 
as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Patrick McCue	 
	

	 	 	 	 	 
	

	 	Name:
	 	Patrick McCue	 
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President and Manager	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-9

 

	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Beth Grossman	 
	

	 	 	 	 	 
	

	 	Name:
	 	Beth Grossman	 
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-10

 

	 	 	 	 	 	 
	 	 	THE ROYAL BANK OF SCOTLAND PLC, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Maria Amaral-LeBlanc	 
	

	 	 	 	 	 
	

	 	Name:
	 	Maria Amaral-LeBlanc	 
	

	 	 	 	 	 
	

	 	Title:
	 	Senior Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-11

 

	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ David Draxler	 
	

	 	 	 	 	 
	

	 	Name:
	 	David Draxler	 
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-12

 

	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL	 
	 	 	ASSOCIATION, as a Lender	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Mark H. Halldorson	 
	

	 	 	 	 	 
	

	 	Name:
	 	Mark H. Halldorson	 
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President	 
	

	 	 	 	 	 
	 
	 	 	 	 	 
	

	 	By:
	 	/s/ Douglas A. Lindstrom	 
	

	 	 	 	 	 
	

	 	Name:
	 	Douglas A. Lindstrom	 
	

	 	 	 	 	 
	

	 	Title:
	 	Vice President	 
	

	 	 	 	 	 

(Signature Page to Amendment)
S-13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]