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rightsplanamendment.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

 

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

     This Amendment No. 1 to Rights Agreement (this “Amendment No. 1”), dated as of May 30, 2007, by and between Ceridian Corporation, a Delaware corporation (the “Company”), and The Bank of New York, as Rights Agent (the “Rights Agent”), amends the Rights Agreement, dated as of November 6, 2001 (the “Rights Agreement”). Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to such term in the Rights Agreement.

RECITALS

     WHEREAS, the Company and the Rights Agent have executed and entered into the Rights Agreement; 

     WHEREAS, pursuant to Section 27(a)(iv) of the Rights Agreement, the Company and the Rights Agent may from time to time supplement or amend the Rights Agreement in accordance with the provisions thereof at the direction of the Company, provided, among other things, that the interests of the holders of Rights Certificates are not adversely affected; 

     WHEREAS, the Company proposes to enter into an Agreement and Plan of Merger, dated as of May 30, 2007, with Foundation Holdings, Inc. and Foundation Merger Sub, Inc. (the “Merger Agreement”); and

     WHEREAS, the Board of Directors of the Company has determined and resolved that it is in the best interest of the Company and its stockholders to amend the Rights Agreement as set forth below to provide that the execution, delivery and performance of the Merger Agreement and the transactions contemplated thereby will not result in any Person becoming an Acquiring Person or have any triggering effect on the Rights;

   NOW, THEREFORE, the Rights Agreement is hereby amended as follows:

1. The definition of Acquiring Person in Section 1(a) of the Rights Agreement is hereby modified and amended by adding the following sentence at the end of the last sentence thereof: 

Notwithstanding anything in this Agreement to the contrary, no Person shall be deemed to be an Acquiring Person solely by virtue of the execution, delivery or performance of Agreement and Plan of Merger, dated as of May 30, 2007, with Foundation Holdings, Inc. and Foundation Merger Sub, Inc. (the “Merger Agreement”) or the transactions contemplated thereby.

2. Section 7(a) is hereby modified and amended by adding thereto the following at the end thereof:

; provided, however, that if the Expiration Date shall not have previously occurred, the Expiration Date shall occur immediately prior to the Effective Time (as defined in the Merger Agreement) and 

the Rights shall expire and not be exercisable from and after such time.

3. This amendment may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute one and the same instrument.

4. This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State.

     IN WITNESS WHEREOF, this Amendment has been duly executed by the Company and the Rights Agent as of the day and year first written above.

	CERIDIAN CORPORATION
	 
	 
	 
	By:   /s/  Gary M. Nelson                   
	Name:  Gary M. Nelson
	Title:     Executive Vice President, Chief
	              Administrative Officer, General
	              Counsel and Secretary

	BANK OF NEW YORK.
	 
	 
	 
	By:  /s/  Margaret A. Villani                         
	Name:  Margaret A. Villani
	Title:     Assistant Vice President

-2-<PAGE>

                                                                    Exhibit 10.2

                                     FORM OF
                        RESTRICTED STOCK AWARD AGREEMENT
            FOR THE CHICOPEE BANCORP, INC. 2007 EQUITY INCENTIVE PLAN

         This Award Agreement is provided to _______________ (the "Participant")
by Chicopee Bancorp, Inc. (the "Company") as of ___________, the date the
Compensation Committee (the "Committee") awarded the Participant a restricted
stock award pursuant to the Chicopee Bancorp, Inc. 2007 Equity Incentive
Plan (the "2007 Plan"), subject to the terms and conditions of the 2007 Plan and
this Award Agreement:

         1.       NUMBER OF SHARES SUBJECT
                  TO YOUR RESTRICTED STOCK AWARD:    _________  shares of Common
                                                     Stock  ("Shares"),  subject
                                                     to  adjustment as may be
                                                     necessary pursuant to
                                                     Article 10 of the 2007
                                                     Plan.

         2.       GRANT DATE:                        _________

         Unless sooner vested in accordance with Section 3 of the Terms and
Conditions (attached hereto) or otherwise in the discretion of the Committee,
the restrictions imposed under Section 2 of the Terms and Conditions will expire
as to the following percentages of the Shares awarded hereunder, on the
following respective dates; provided that the Participant is still employed by
or in service with the Company or any of its subsidiaries:

         Percentage of               Number of Shares
         Shares Vesting                 Vesting              Vesting Date
         --------------                 -------              ------------

            -----                        -----                   -----
            -----                        -----                   -----
            -----                        -----                   -----
            -----                        -----                   -----
            -----                        -----                   -----

         IN WITNESS WHEREOF, Chicopee Bancorp, Inc., acting by and through the
Compensation Committee of the Board of Directors, has caused this Award
Agreement to be executed as of the Grant Date set forth above.

                                     CHICOPEE BANCORP, INC.

                                     By:
                                         ---------------------------------------
                                         On behalf of the Compensation Committee
ACCEPTED BY PARTICIPANT:

---------------------------
[Name]

---------------------------
Date

<PAGE>

TERMS AND CONDITIONS

1.       GRANT OF SHARES. The Grant Date and number of Shares underlying your
         Restricted Stock Award are stated on page 1 of this Award Agreement.
         Capitalized terms used herein and not otherwise defined shall have the
         meanings assigned to such terms in the 2007 Plan.

2.       RESTRICTIONS. The unvested Shares underlying your Restricted Stock
         Award (the "Restricted Shares") are subject to the following
         restrictions until they expire or terminate.

         (a)     Restricted Shares may not be sold, transferred, exchanged,
                                   -------
                 assigned, pledged, hypothecated or otherwise encumbered.

         (b)     If your employment or service with the Company or any Affiliate
                 terminates for any reason other than as set forth in paragraph
                 (b) of Section 3 hereof, then you will forfeit all of your
                 rights, title and interest in and to the Restricted Shares as
                 of the date of termination, and the Restricted Shares shall
                 revert to the Company under the terms of the 2007 Plan.

         (c)     Restricted Shares are subject to the vesting schedule set forth
                 on page 1 of this Award Agreement.

3.       EXPIRATION AND TERMINATION OF RESTRICTIONS. The restrictions imposed
         under Section 2 will expire on the earliest to occur of the following
         (the period prior to such expiration being referred to herein as the
         "Restricted Period"):

         (a)     As to the percentages of the Shares specified in the vesting
                 schedule on page 1 of this Award Agreement, on the respective
                 dates specified in the vesting schedule on page 1; provided you
                 are then still employed by or in the service of the Company or
                 an Affiliate; or

         (b)     Upon termination of your employment by reason of death or
                 Disability; or

         (c)     Upon a change in control.

4.       DELIVERY OF SHARES. Once the Shares are vested (SEE VESTING SCHEDULE ON
         PAGE 1), the Shares (and accumulated dividends and earnings, if any)
         will be distributed in accordance with your instructions.

5.       VOTING AND DIVIDEND RIGHTS. As beneficial owner of the Shares, you have
         full voting and dividend rights with respect to the Shares during and
         after the Restricted Period. If you forfeit your rights under this
         Award Agreement in accordance with Section 2, you will no longer have
         any rights as a shareholder with respect to the Restricted Shares and
         you will no longer be entitled to receive dividends on the Shares.

6.       CHANGES IN CAPITAL STRUCTURE. Upon the occurrence of a corporate event
         (including, without limitation, any stock dividend, stock split,
         extraordinary cash dividend, recapitalization, reorganization, merger,
         consolidation, split-up, spin-off, combination or exchange of shares),
         your award will be adjusted as necessary to preserve the benefits or
         potential benefits of the award. Without limiting the above, in the
         event of a subdivision of the outstanding Stock (stock-split), a
         declaration of a dividend payable in Stock, or a combination or
         consolidation of the

<PAGE>

         outstanding Stock into a lesser number of Shares, the Shares subject to
         this Award Agreement will automatically be adjusted proportionately.

7.       NO RIGHT OF CONTINUED EMPLOYMENT. Nothing in this Award Agreement will
         interfere with or limit in any way the right of the Company or any
         Affiliate to terminate your employment or service at any time, nor
         confer upon you any right to continue in the employ or service of the
         Company or any Affiliate.

8.       PAYMENT OF TAXES. You may make an election to be taxed upon your
         Restricted Stock Award under Section 83(b) of the Code within 30 days
         of the Grant Date. If you do not make an 83(b) Election, upon vesting
                            ------------------------------------
         of the Restricted Stock Award the Committee is entitled to require as a
         condition of delivery: (i) that you remit an amount sufficient to
         satisfy any and all federal, state and local (if any) tax withholding
         requirements and employment taxes (I.E., FICA and FUTA), (ii) that the
         withholding of such sums come from compensation otherwise due to you or
         from Shares due to you under the 2007 Plan, or (iii) any combination of
         the foregoing. Any withholding shall comply with Rule 16b-3 or any
         amendments or successive rules. OUTSIDE DIRECTORS OF THE COMPANY ARE
         SELF-EMPLOYED AND NOT SUBJECT TO TAX WITHHOLDING.

9.       PLAN CONTROLS. The terms contained in the 2007 Plan are incorporated
         into and made a part of this Award Agreement and this Award Agreement
         shall be governed by and construed in accordance with the 2007 Plan. In
         the event of any actual or alleged conflict between the provisions of
         the Plan and the provisions of this Agreement, the provisions of the
         Plan will control.

10.      SEVERABILITY. If any one or more of the provisions contained in this
         Agreement is deemed to be invalid, illegal or unenforceable, the other
         provisions of this Agreement will be construed and enforced as if the
         invalid, illegal or unenforceable provision had never been included in
         this Agreement.

11.      NOTICE. Notices and communications under this Agreement must be in
         writing and either personally delivered or sent by registered or
         certified United States mail, return receipt requested, postage
         prepaid. Notices to the Company must be addressed to:

                           Chicopee Bancorp, Inc.
                           70 Center Street
                           Chicopee, Massachusetts  01013
                           Attn:   Compensation Committee

         or any other address designated by the Company in a written notice to
         you. Notices to you will be directed to your address as then currently
         on file with the Company, or at any other address that you provide in a
         written notice to the Company.

12.      SUCCESSORS. This Award Agreement shall be binding upon any successor of
         the Company, in accordance with the terms of this Award Agreement and
         the 2007 Plan.

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