Document:

EXHIBIT
10.1

CERIDIAN
CORPORATION

DEFERRED
COMPENSATION PLAN (2002 Revision)

First
Declaration of Amendment

Pursuant to the retained
power of amendment contained in Section 6.2 of the Ceridian Corporation
Deferred Compensation Plan (2002 Revision), the undersigned hereby amends the
Plan in the manner described below.

1.             This First Declaration of Amendment will apply only to
deferrals that are subject to the provisions of Section 409A of the Code,
namely deferred compensation amounts that were deferred, credited or vested on
or after January 1, 2005, and earnings credits thereon.  Amounts that were deferred, credited and
vested under the Plan as of December 31, 2004, and earnings credits
thereon (the “Grandfathered Amount”) will continue to be subject to the terms
of the Plan without regard to the First Declaration of Amendment and the
Grandfathered Amount is not intended to be subject to Section 409A of the
Code.  This First Declaration of
Amendment is effective January 1, 2005, except to the extent specifically
provided otherwise.  For purposes of
administering the Plan, including crediting amounts to Participant Accounts and
making payments under the Plan, the Grandfathered Amount will be treated as
maintained under a plan that is separate from the non-Grandfathered Amount that
is subject to this First Declaration of Amendment.

2.             Section 2.2(a)(v) is amended and restated effective as
of January 1, 2005 to read as follows:

“(v)         401(k) Hardship Withdrawal.  A Qualified Employee who receives a hardship
withdrawal from a 401(k) plan maintained by a Participating Employer, or by any
other employer required to be aggregated with the Participating Employer under
Code section 414(b), (c), (m) or (o), will have his or her election to defer
Base Compensation or Annual Bonus under the Plan cancelled, with any new
election subject to the deferral election requirements of Section 3.2.”

3.             Effective as of January 1, 2005, Section 2.2(a)(iv) is
deleted and such Section 2.2(a)(v) is redesignated as Section 2.2(a)(iv).

4.             Section 2.2(b) is amended and restated effective as of
January 1, 2005 to read as follows:

“(b)         Affect on Deferral Elections.  An Active Participant’s deferral election for
a Plan Year is irrevocable after the latest day on which the election may be
made except in the event of a distribution under Section 2.2(a)(iii) or a
401(k) hardship withdrawal under Section 2.2(a)(v).”

5.             Section 2.3 is amended effective as of January 1, 2005
by adding the following language to the end of such Section:

 

“In addition, an Employee
Participant who transfers to an Affiliate of a Participating Employer will, for
the duration of the Plan Year during which the transfer occurs, continue to
participate in Participant Deferral Credits pursuant to Section 3.2 of the Plan
in accordance with the deferral election in effect before the transfer.”

6.             Section 2.5 is amended effective as of January 1, 2005
by amending and restating the first sentence of such Section to read as
follows:

“Each Qualified Employee who, for the Plan Year, is
eligible to contribute to the Qualified 401(k) Plan, is eligible to receive a
Restoration Matching Credit.”

7.             Section 2.6(b) is amended and restated effective as of
January 1, 2005 to read as follows:

“(b)         is
an executive officer of the Company or a Subsidiary; and”

8.             Section 3.1(e) is amended effective as of January 1,
2005 by adding a new clause (v) to read as follows:

“(v)         Distribution Elections.  If a Participant has made different
distribution elections for amounts credited under Sections 3.2, 3.3, 3.4 and
3.5 for particular Plan Years, then, the Administrator will maintain separate
subaccounts within each 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.”

9.             Section 3.2(a)(ii) is amended effective as of January 1,
2005 by adding the following language to the end of such Section:

“Notwithstanding the preceding sentence, the special
30-day rule is only applicable to a Qualified Employee who was not previously
eligible to participate in the Plan or any other non-qualified deferred
compensation plan maintained by the Company or an Affiliate that would be
treated as a single plan with the Plan under Code section 409A.”

10.           Section 3.2(b)(ii) is amended
effective as of January 1, 2005 by adding the following language to the end of
such Section:

“Notwithstanding the preceding sentence, the special
30-day rule is only applicable to a Qualified Employee who was not previously
eligible to participate in the Plan or any other non-qualified deferred
compensation plan maintained by the Company or an Affiliate that would be
treated as a single plan with the Plan under Code section 409A.”

11.           Section 3.2(b)(iv) is amended and
restated effective as of January 1, 2005 to read as follows:

“(iv)        Any election pursuant to this subsection
for a Plan Year by an Employee Participant after the first day of the Plan Year
applies only to that

 2
 

 

percentage of the Annual Bonus that is equal to the
ratio of the number of days in the Plan Year after the effective date of the
election over this total number of days in the Plan Year.”

12.           Section 3.2(c) is deleted effective
as of January 1, 2005 and Section 3.2(d) is redesignated as Section 3.2(c).

13.           Section 3.6(j)(v) is amended
effective as of January 1, 2005 by replacing the phrase “Company and its
Affiliates” in the first sentence of such Section with “Company and its
Subsidiaries.”

14.           Section 3.7(c) is amended effective
as of January 1, 2005 by amending and restating the first sentence of Section
3.7(c) to read as follows:

“With respect to any amount credited to the
Participant’s Supplemental Matching Account (and related earnings credits) for
a given Plan Year, the Participant will vest 100% in such amount as of the last
day of the second Plan Year following the Plan Year for which the supplemental
matching credit is credited to the Participant’s Account.”

15.           Section 4.1(a)(i) is amended
effective as of January 1, 2005 by adding the following language to the end of
such Section:

“Notwithstanding the foregoing, Participants may be
provided a one-time opportunity on or before December 31, 2006 to elect to
either delay or cancel each date made in a prior election provided a
Participant may not change a payment election either (1) with respect to
payments that he or she would otherwise receive in 2006, or (2) to cause
payments to be made in 2006.”

16.           Section 4.1(a)(iii) is amended and
restated effective as of January 1, 2005 to read as follows:

“(iii)        A Participant will be provided with one
opportunity to elect to delay each date specified in an election made pursuant
to clause (i).  An election pursuant to
this clause will not have any effect unless the election (1) is made on a
properly completed form received by the Administrator at least twelve (12)
months prior to the date that the Participant’s first scheduled payment was to
begin, (2) is not effective until at least twelve (12) months after the date on
which the election is made, and (3) delays the payment at least five (5) years
beyond the distribution date originally specified.”

17.           Section 4.1(c) is amended and
restated effective as of January 1, 2005 to read as follows:

“(c)         Accelerated Distribution.  [Intentionally
omitted.]”

18.           Section 4.2(a) is amended and
restated effective as of January 1, 2005 to read as follows:

 3
 

 

“(a)         Time.  Except as otherwise provided under Section
4.2(b)(v) relating to the 5-year redeferral rule, distribution to a Participant
will be made or commenced on or as soon as administratively practicable after
the date of the Participant’s Disability, Retirement or other Severance.”

19.           Section 4.2(b)(ii) is amended and
restated effective as of January 1, 2005 to read as follows:

“(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 the Participant has properly elected in accordance
with Plan Rules to receive his distribution in an alternative form.”

20.           Section 4.2(b) is amended effective
as of January 1, 2005 by adding new clauses (iv), (v) and (vi) to read as
follows:

“(iv)        Election.  Except as otherwise specifically provided in
the Plan, each Participant will be provided with one opportunity to irrevocably
elect in accordance with Plan Rules the form of distribution (among the forms
described in clause (vi)).  The election
must be made prior to the Plan Year during which the Participant’s services are
performed for which the credits under Sections 3.2, 3.3, 3.4 or 3.5 relate
(together with earnings credits thereon), or, if the Participant satisfies the
requirements of Sections 3.2(a)(ii) or 3.2(b)(ii), within 30 days of first
becoming eligible to participate in the Plan. 
Notwithstanding the foregoing, Participants may be provided a one-time
opportunity on or before December 31, 2006 to elect an alternative form of
distribution (lump sum or installments described in clause (vi)) of amounts
credited to the Participant’s Account prior to January 1, 2007 provided a
Participant may not change a payment election with respect to payments that he
or she would otherwise receive in 2006.

(v)           5-Year Redeferral Election.  If the time for making an election under
clause (iv) has expired, Participant may elect to change the form of his or her
distribution to a form described in clause (vi) or to a single lump sum,
provided the election (1) is made on a properly completed form received by the
Administrator at least twelve (12) months prior to the date that the
Participant’s first scheduled payment was to begin; (2) is not effective until
at least twelve (12) months after the date on which the election is made, and
(3) delays the commencement of the payment at least five (5) years beyond the
date the payment was otherwise scheduled to begin.

(vi)          Installments.  A Participant may elect to receive his or her
distribution in the form of five (5), ten (10) or fifteen (15) annual
installment cash payments.  For purposes
of Code section 409A, an installment distribution will be treated as a single
payment.”

21.           Section 4.2(d)(i)(1) is amended and
restated effective as of January 1, 2005 to read as follows:

“(1)         [Intentionally
omitted.]”

 4
 

 

22.           Section 4.2(d)(iii) is deleted
effective as of January 1, 2005.

23.           Section 4.4 is amended effective as
of January 1, 2005 (a) by changing the term “Affiliate” to “Participating
Employer or its Affiliate” each place it appears in such Section, and (b) by
changing the phrase “distribution may be deferred” to the phrase “distribution
will be deferred” where it appears at the end of the first sentence of Section
4.4.

24.           Section 4.6 is amended and restated
effective as of January 1, 2005 to read as follows:

“4.6         Suspension. 
[Intentionally omitted.]”

25.           Article 4 is amended effective as of
January 1, 2005 by adding a new Section 4.7 to read as follows:

“4.7         Six-Month Suspension for Specified
Key Employee.  If at the time of the
Participant’s termination of employment (other than on account of death) the
Participant is a “specified employee” for purposes of complying with the
requirements of Section 409A(a)(2)(B)(i) of the Code, any payment due the
Participant will be suspended and not paid until the first day immediately
following the date that is six (6) months after the date of the Participant’s
termination of employment (or if earlier, upon the Participant’s death).”

26.           Section 6.1 is amended effective as
of January 1, 2005 by changing the term “Affiliate” to “Subsidiary” where it
appears in such Section.

27.           Section 6.3(b) is amended and
restated effective as of January 1, 2005 to read as follows:

“(b)         if
(and only to the extent) the Participant’s interest in the Plan has become
subject to tax under Code section 409A, cause such Participant’s 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”

28.           Section 6.4 is amended effective as
of January 1, 2005 by adding the following language to the end of such Section:

“Notwithstanding the preceding sentence, acceleration
of distributions following a termination of the Plan will be made if and only
to the extent and at the terms permitted under Code section 409A.”

29.           Section 7.5 is amended effective as
of January 1, 2005 by amending and restating (or adding) the following
definitions to read as follows:

“Affiliate. “Affiliate”
means any person with whom a Participating Employer would be treated as a
single employer under Code section 414(b) or 414(c).

Matching Percentage.  “Matching Percentage” means with respect to a
Qualified Employee, the percentage that would be used in calculating the
Participating

 5
 

 

Employer’s (or an Affiliate’s) matching contribution
under the Qualified 401(k) Plan (but not including any performance or
discretionary matching contributions) on behalf of such Qualified Employee (for
the Qualified 401(k) Plan plan year ending with or within the Plan Year for
this Plan) determined by assuming that the Qualified Employee had contributed
the maximum amount permitted under the Qualified 401(k) Plan.

Participating Employer. “Participating Employer” means the
Company and any Subsidiary that has adopted the Plan, or all of them
collectively, as the context requires.  A
Subsidiary will cease to be a Participating Employer upon its ceasing to be a
Subsidiary and the Company and each Subsidiary will cease to be a Participating
Employer upon termination of the Plan as to its Qualified Employees (and, in
the case of the Company, its Qualified Directors) and the satisfaction in full
of its obligations under the Plan.

Severance.  “Severance” means:

(a)           the date on which (1) an Employee
Participant’s employment relationship is severed with each of the Participating
Employers and their Affiliates, or (2) an Employee Participant experiences a
change in employment status with each of the Participating Employers and their
Affiliates and such change constitutes a “separation from service” within the
meaning of Code section 409A; or

(b)           the
date on which a Director Participant ceases to be a member of the Company’s
board of directors and has terminated all contractual relationships as an
independent contractor of the Company and all of its Affiliates such that he or
she has experienced a “separation from service” within the meaning of Code
section 409A.

Subsidiary.  “Subsidiary” means 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.

Unforeseeable Emergency.  “Unforeseeable Emergency” means a severe
financial hardship of the Participant resulting from (i) an illness or accident
of the Participant, the Participant’s spouse, or the Participant’s dependent
(as defined under Code section 152(a)), (ii) loss of the Participant’s property
due to casualty, or (iii) other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the
Participant, but only if and to the extent the Administrator determines that
such Unforeseeable Emergency constitutes an “unforeseeable emergency” under
Code section 409A.”

30.           The definition of “Board” in Section
7.5 is amended effective as of January 1, 2005 by changing the term “Affiliate”
to “Company or Subsidiary” where it appears in such definition.

31.           The definition of “Disability” under
Section 7.5 is amended effective as of January 1, 2005 by (a) changing the
term “Affiliate” to “Participating Employer or its Affiliate” where it appears
in the definition and (b) by adding the following sentence after the first
sentence 

 6
 

 

of such definition:

“Notwithstanding the preceding sentence, a Participant
will be treated as experiencing a Disability only if such Disability
constitutes a “disability” within the meaning of Code section 409A.”

32.           The definition of “Hour of Service”
under Section 7.5 is amended effective as of January 1, 2005 by changing the
phrase “an Affiliate” to “the Company or its Subsidiary” each place it appears
in such definition.

33.           The definition of “Qualified 401(k)
Plan” under Section 7.5 is amended effective as of January 1, 2005 by changing
the phrase “Company” to “Participating Employer” where it appears in such
definition.

34.           The definition of “Vesting Service”
under Section 7.5 is amended effective as of January 1, 2005 by changing the
term “Affiliate” to “Subsidiary” each place it appears in such definition.

35.           Section 8.5 is amended effective as
of January 1, 2005 by changing the phrase “any Affiliates” to “the Company or
any of its  Subsidiaries” where it
appears in such definition.

The undersigned
has caused this instrument to be executed by its duly authorized officers this
25th day of October, 2006.

 

	
  

  	
  CERIDIAN CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attest: 

  	
  /s/ William E. McDonald

  	
   

  	
  By 

  	
  /s/ Gary M. Nelson

  	
   

  
	
   

  	
  Deputy Secretary

  	
   

  	
  Name: Gary M. Nelson 

  
	
   

  	
   

  	
  Title:     Executive Vice
  President, Chief 

  
	
   

  	
  Administrative Officer, General Counsel and 

  
	
   

  	
  Corporate Secretary

  
								

 

 7EXHIBIT
10.2

CERIDIAN
CORPORATION

BENEFIT
EQUALIZATION PLAN

Fourth
Declaration of Amendment

Pursuant to the retained
power of amendment contained in Section 4.2 of the Ceridian Corporation Benefit
Equalization Plan, the undersigned hereby amends the Plan in the manner
described below.

1.             This Fourth Declaration of Amendment will apply only to
benefits that are subject to the provisions of Section 409A of the Code, namely
the amount that exceeds the benefit that was accrued and vested under the Plan
as of December 31, 2004 (the “Grandfathered Amount”).  The Grandfathered Amount will continue to be
subject to the terms of the Plan without regard to the Fourth Declaration of
Amendment, and the Grandfathered Amount is not intended to be subject to
Section 409A of the Code.  This Fourth
Declaration of Amendment is effective January 1, 2005, except to the
extent specifically provided otherwise. 
For purposes of administering the Plan and payments under the Plan, the
Grandfathered Amount will be treated as maintained under a plan that is
separate from the non-Grandfathered Amount that is subject to this Fourth
Declaration of Amendment.

2.             Section 2.2(A) is amended and restated as of
January 1, 2005 to read as follows:

“(A)        Payment of a benefit to any Participant
determined pursuant to Section 2.1(B) or surviving spouse or other person
determined pursuant to Section 2.1(C) will be made or commence, as the case may
be, at the same time and in the same form as his or her benefit under the
Pension Plan provided the election is made under the Pension Plan on or before
December 31, 2006; otherwise, payment of the benefit will be determined and
made as follows:

(1)           Form.  Payment will be in the form of an actuarial
equivalent lump sum payment calculated as of the first day of the fourth
calendar month that begins after the calendar month during which the Participant terminates employment (the “Calculation
Date”), calculated in the manner provided under the Pension Plan.

(2)           Payment.  The payment will be made on or as soon as administratively
practicable after the Calculation Date.

(3)           Termination of Employment.  A Participant will be treated as terminating
employment if (i) his or her employment relationship is severed with the
Company and all persons with whom the Company would be considered a single
employer under Section 414(b) or 414(c) of the Code (“Affiliates”) (for any
reason, including death) provided such termination constitutes a “separation
from service” within the meaning of Section 409A of the Code, or (ii) he
or she experiences a change in employment status with the Company and its “Affiliates”
that constitutes a “separation from service” within the meaning of Section 409A
of the Code.

 

(4)           Death.  If a Participant dies before the Calculation
Date, then the Participant’s surviving spouse is entitled to the benefit
determined under Section 2.1(c).  If the
Participant dies after the Calculation Date and before receipt of his or her
benefits, the lump sum payment will be paid to the Participant’s surviving
spouse, or if the Participant is not survived by a spouse, to the Participant’s
estate, on the date on which the Participant would have received the payment
had he or she survived.”

3.             Section 2.2(D)(2) is amended effective January 1, 2005
by adding the following language to the end of such Section:

“Notwithstanding the foregoing provisions of this
Clause (2), no Participant is eligible to make an election after December 31,
2006.”

4.             Section 2.2(D)(3) is amended effective January 1, 2005
by adding the following language to the end of such Section:

“Notwithstanding the foregoing provisions of this
Clause (3), no Participant is eligible to revoke an election after December 31,
2006.”

5.             Section 2.2(E) is deleted effective January 1,
2005.

6.             Section 2.3(D) is amended and restated effective
January 1, 2005 to read as follows:

“(D)        If a Participant who is receiving or
entitled to receive a benefit pursuant to the Plan is reemployed with a
Participating Employer or an Affiliate of a Participating Employer and, in
connection with such reemployment, his or her Pension Plan benefit payment is
suspended, his or her benefit under this Plan will not be suspended for the
same period.  Any additional benefits
earned under the Plan will be paid following the Participant’s subsequent termination
of employment.”

7.             Article 2 is amended by adding a new Section 2.6 to read
as follows:

“2.6         Six-Month
Suspension for Specified Key Employee. 
If at the time of the Participant’s termination of employment (other
than on account of death) the Participant is a “specified employee” for
purposes of complying with the requirements of Section 409A(a)(2)(B)(i) of the
Code, any payment due the Participant will be suspended and not paid until the
first day immediately following the date that is six (6) months after the date
of the Participant’s termination of employment (or if earlier, upon the
Participant’s death).  Any payment that
is delayed by operation of this Section 2.6 will be credited with simple
interest equal to the annual interest rate in effect under the Pension Plan for
determining lump sum amounts multiplied by a fraction the numerator of which is
the number of days the payment is suspended and the denominator of which is
365.”

 2
 

 

8.             Section 4.3(A)(2) is amended and restated effective
January 1, 2005 to read as follows:

“(2)         if (and only to the extent) the benefit
has become subject to tax under Section 409A of the Code, cause the Participant’s
benefit under the Plan to be distributed to the Participant in the form of an
immediate lump sum; and/or”

9.             Section 4.4 is amended effective as of January 1,
2005 by adding a new Subsection (D) to read as follows:

“(D)        Notwithstanding the provisions of
Section 4.4(B), acceleration of distributions following a termination of the
Plan will be made if and only to the extent and at the times permitted under
Section 409A of the Code.”

 

The undersigned
has caused this instrument to be executed by its duly authorized officers this
25th day of October, 2006.

 

	
  

  	
  CERIDIAN CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attest: 

  	
  /s/ William E. McDonald

  	
   

  	
  By 

  	
  /s/ Gary M. Nelson

  	
   

  
	
   

  	
  Deputy Secretary

  	
   

  	
  Name: Gary M. Nelson 

  
	
   

  	
   

  	
  Title: Executive Vice President, Chief 

  
	
   

  	
  Administrative Officer, General Counsel and 

  
	
   

  	
  Corporate Secretary

  
								

 

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]