Document:

exv10w06

 

EXHIBIT 10.06

CERIDIAN CORPORATION

2004 LONG-TERM STOCK INCENTIVE PLAN

Restricted Stock Award Agreement

(U.S. Employee)

     This Agreement between you, [NAME], and Ceridian Corporation, a Delaware corporation (the
“Company”), is dated as of [GRANT DATE] (the “Date of Grant”) and evidences the grant of a
Restricted Stock award pursuant to the 2004 Long-Term Stock Incentive Plan of the Company (the
“Plan”). Any capitalized term used in this Agreement which is defined in the Plan shall have the
same meaning as set forth in the Plan.

     1. Award. Effective as of the Date of Grant, the Company has granted to you [NUMBER OF
SHARES] shares of the common stock, par value $0.01 per share (the “Awarded Shares”), subject to
the terms and conditions set forth in this Agreement and the Plan.

     2. Restrictions on Transferability. Awarded Shares may not be sold, transferred, assigned,
pledged or otherwise used as collateral by you unless and until, and then only to the extent that,
restrictions on transferability shall have lapsed in accordance with the Plan and this Agreement.
In this Agreement, the lapsing of such transferability restrictions is referred to as “vesting,”
and Awarded Shares that are no longer subject to such transferability restrictions are referred to
as “vested.”

     3. Book-Entry Registration. Ownership of Awarded Shares which are not yet vested shall not
be evidenced by a stock certificate, but rather shall be evidenced by an entry in a certificateless
book-entry stock account maintained by the Company’s transfer agent for its common stock (the
“Transfer Agent”). The Transfer Agent and you will receive written notification from the Company
of the vesting of all or a portion of your Awarded Shares, and you will receive written
instructions on how you may transfer or obtain a stock certificate for your unrestricted shares.
To facilitate the transfer to the Company of any Awarded Shares that you might subsequently forfeit
in accordance with the terms of this Agreement, you agree to sign and promptly return to the
Company with a signed copy of this Agreement such stock power(s) as the Company may request.

     4. Vesting of Awarded Shares. Subject to Section 5 of this Agreement, one-third of the
Awarded Shares will vest during the period of your employment with the Company and its Subsidiaries
(as defined in Section 12 of this Agreement) on each of the first, second and third anniversaries
of the Date of Grant.

     5. Termination of Employment. If your employment with the Company and all Subsidiaries
terminates due to death or Disability (as defined in Section 12 of this Agreement), all Awarded
Shares will immediately vest. If your employment with the Company and all Subsidiaries terminates
for any other reason, you will immediately forfeit to the Company any Awarded Shares that have not
yet vested as of the employment termination date.

 

 

     6. Impact of a Change of Control. If a Change of Control (as defined in Section 12 of this
Agreement) of the Company occurs, all Award Shares will immediately vest.

     7. Dividends and Distributions. Any dividends or distributions (including regular,
periodic cash dividends) paid with respect to Awarded Shares that have not yet vested will be
subject to the same restrictions on transferability and the possibility of forfeiture to the
Company as the Awarded Shares to which the dividends or distributions relate. To facilitate the
enforcement of this provision, any such dividends or distributions paid with respect to unvested
Awarded Shares shall be held by the Company or its agent designated for the purpose until such time
as the Awarded Shares to which the dividends or distributions relate vest or are forfeited. If
such Shares vest, the dividends or distributions with respect thereto shall be paid or transferred
to you at the time the certificate representing such Shares is provided to you. If such Shares are
forfeited, all of your right, title and interest in and to such dividends and distributions shall
automatically be transferred to the Company, and you agree to execute any documents evidencing such
transfer as may be requested by the Company, either at the time of such transfer or in anticipation
of such transfer becoming necessary.

     8. Continued Employment. Nothing in this Agreement shall confer upon you any right with
respect to continuance of employment by the Company or any of its Subsidiaries, nor interfere in
any way with the right of the Company or any of its Subsidiaries to terminate your employment at
any time.

     9. Prohibited Activities.

      (a) You agree that you will not take any Adverse Actions (as defined in Section 9(b)
below) against the Company or any Subsidiary at any time during the period that the Award
Shares have not vested in full or at any time before one year following your termination of
employment with the Company or any Subsidiary, whichever is later (the “Restricted Period”).
You acknowledge that damages which may arise from a breach of this Section 9 may be
impossible to ascertain or prove with certainty. Notwithstanding anything in this Agreement
or the Plan to the contrary, in the event that the Company determines in its sole discretion
that you have taken Adverse Actions against the Company or any Subsidiary at any time during
the Restricted Period, in addition to other legal remedies which may be available, (i) the
Company will be entitled to an immediate injunction from a court of competent jurisdiction
to end such Adverse Action, without further proof of damage, (ii) you will forfeit any
Awarded Shares that are not yet vested effective the date on which you enter into such
activity, and (iii) any taxable income realized by you from the grant or vesting of Awarded
Shares during a period beginning six months prior to the date on which you enter into such
activity shall be paid by you to the Company.

      (b) For purposes of this Agreement, an “Adverse Action” will mean any of the following:
(i) failing to adhere to the Company’s Code of Conduct; (ii) engaging in any commercial
activity in competition with any part of the business of the Company or any Subsidiary as
conducted during the Restricted Period; (iii) diverting or attempting to divert

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from the
Company or any Subsidiary any business of any kind, including, without limitation,
interference with any business relationships with suppliers,
customers, licensees, licensors, clients or contractors; (iv) participating in the ownership, operation or
control of, being employed by, or connected in any manner with any person or entity which
solicits, offers or provides any services or products similar to those which the Company or
any Subsidiary offers to its customers or prospective customers; (v) making, or causing or
attempting to cause any other person or entity to make, any statement, either written or
oral, or conveying any information about the Company or any
Subsidiary that is disparaging or that in any way reflects negatively on the Company or any Subsidiary; or (vi)
engaging in any other activity that is hostile, contrary or harmful to the interests of the
Company or any Subsidiary, including, without limitation, influencing or advising any person
who is employed by or in the service of the Company or any Subsidiary to leave such
employment or service to compete with the Company or any Subsidiary or to enter into the
employment or service of any actual or prospective competitor of the Company or any
Subsidiary, influencing or advising any competitor of the Company or any Subsidiary to
employ to otherwise engage the services of any person who is employed by or in the service
of the Company or any Subsidiary, or improperly disclosing or otherwise misusing any trade
secrets or confidential information regarding the Company or any Subsidiary.

      (c) Should any provision of this Section 9 of the Agreement be held invalid or illegal,
such illegality shall not invalidate the whole of this Section 9 of the Agreement, but,
rather, this Agreement shall be construed as if it did not contain the illegal part or
narrowed to permit its enforcement, and the rights and obligations of the parties hall be
construed and enforced accordingly. In furtherance of and not in limitation of the
foregoing, you expressly agree that should the duration of or geographical extent of, or
business activities covered by, any provision of this Agreement be in excess of that which
is valid or enforceable under applicable law, then such provision shall be construed to
cover only that duration, extent or activities that may validly or enforceably be covered.
You acknowledge the uncertainty of the law in this respect and expressly stipulates that
this Agreement shall be construed in a manner that renders its provisions valid and
enforceable to the maximum extent (not exceeding its express terms) possible under
applicable law. This Section 9 of the Agreement does not replace and is in addition to any
other agreements you may have with the Company or any of its Subsidiaries on the matters
addressed herein. This Section 9 shall not apply to any termination which takes place on or
following a Change of Control.

     10. Payment of Amounts Owed. By accepting this Agreement, you consent to a reduction
from any amounts the Company owes you from time to time (including wages or other compensation) of
any amount you owe the Company under Section 9 of this Agreement. If the Company does not recover
by means of set-off the full amount you owe it, you agree to immediately repay the unpaid balance
to the Company.

     11. Tax Withholding. In order to comply with all applicable federal, state, local or
foreign income tax laws or regulations, the Company may take such action as it deems appropriate to
ensure that all applicable federal, state, local or foreign payroll, withholding, income or other
taxes, which are your sole and absolute responsibility, are withheld or collected from you. In
order to assist you in paying all or a portion of the applicable taxes to be withheld or collected
upon the grant or vesting of

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the Awarded Shares, the Committee, in its discretion and subject to
such additional terms and conditions as it may adopt, may permit you to satisfy such tax
obligations by (a) electing to have the Company withhold a portion of the Awarded Shares otherwise to be delivered upon vesting with a Fair
Market Value equal to the amount of such taxes or (b) delivering to the Company Shares other than
the vested Awarded Shares with a Fair Market Value equal to the amount of such taxes. The
election, if any, must be made on or before the date that the amount of tax to be withheld is
determined.

     12. Certain Definitions. For purposes of this Agreement, the following additional
definitions will apply:

     (a) “Change of Control” shall mean the first of the following events to occur:

        (i) there is consummated a merger or consolidation to which the Company or any
direct or indirect subsidiary of the Company is a party if the merger or
consolidation would result in the voting securities of the Company outstanding
immediately prior to such merger or consolidation continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving
entity or any parent thereof) less than 60% of the combined voting power of the
securities of the Company or such surviving entity or any parent thereof outstanding
immediately after such merger or consolidation; or

        (ii) the direct or indirect beneficial ownership (as defined in Rule 13d-3 under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) in the
aggregate of securities of the Company representing 20% or more of the total combined
voting power of the Company’s then issued and outstanding securities is acquired by
any person or entity or group of associated persons or entities acting in concert;
provided, however, that for purposes of hereof, the following acquisitions shall not
constitute a Change of Control: (1) any acquisition by the Company or any of its
subsidiaries, (2) any acquisition directly from the Company or any of its
subsidiaries, (3) any acquisition by any employee benefit plan (or related trust or
fiduciary) sponsored or maintained by the Company or any corporation controlled by
the Company, (4) any acquisition by an underwriter temporarily holding securities
pursuant to an offering of such securities, (5) any acquisition by a corporation
owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company, (6) any acquisition
in connection with which, pursuant to Rule 13d-1 promulgated pursuant to the Exchange
Act, the individual, entity or group is permitted to, and actually does, report its
beneficial ownership on Schedule 13G (or any successor Schedule); provided that, if
any such individual, entity or group subsequently becomes required to or does report
its beneficial ownership on Schedule 13D (or any successor Schedule), then, for
purposes of this paragraph, such individual, entity or group shall be deemed to have
first acquired, on the first date on which such individual, entity or group becomes
required to or does so report, beneficial ownership of all of the voting securities
of the Company beneficially owned by it on such date, and (7) any

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acquisition in connection with a merger or consolidation which, pursuant to paragraph (c)(i) above,
does not constitute a Change of Control; or

        (iii) there is consummated a transaction contemplated by an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s
assets, other than a sale or disposition by the Company of all or substantially all
of the Company’s assets to an entity, at least 60% of the combined voting power of
the voting securities of which are owned by stockholders of the Company in
substantially the same proportions as their ownership of the Company immediately
prior to such sale; or

        (iv) the stockholders of the Company approve any plan or proposal for the
liquidation of the Company; or

        (v) a change in the composition of the Board such that the “Continuity
Directors” cease for any reason to constitute at least a majority of the Board. For
purposes of this clause, “Continuity Directors” means those members of the Board who
either (i) were directors on January 29, 2002, or (ii) were elected by, or on the
nomination or recommendation of, at least a two-thirds (2/3) majority of the
then-existing Board (other than a director whose initial assumption of office was in
connection with an actual or threatened election contest, including but not limited
to a consent solicitation, relating to the election of directors of the Company); or

        (vi) such other event or transaction as the Board shall determine constitutes a
Change of Control.

     (b) “Disability” means your disability such as would entitle you to receive
disability income benefits pursuant to the long-term disability plan of the Company or
Subsidiary then covering you or, if no such plan exists or is applicable to you, your
permanent and total disability within the meaning of Section 22(e)(3) of the Internal
Revenue Code of 1986, as amended.

     (c) “Subsidiary” means any entity that is directly or indirectly controlled by
the Company or any entity in which the Company has a significant equity interest, as
determined by the Committee.

     13. Governing Law. The validity, construction, interpretation, administration and
effect of this Agreement will be governed by and construed exclusively in accordance with the
laws of the State of Delaware, without regard to its conflicts of law principles.

     14. Successors and Assigns. This Agreement will be binding upon and inure to the
benefit of the successors and permitted assigns of you and the Company.

[The Remainder of the Page Left Intentionally Blank]

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     In Witness Whereof, you and Ceridian Corporation have executed this Agreement as of the Date
of Grant.

	 	 	 	 	 	 
	CERIDIAN CORPORATION

	 
	 	 	 	 
	By
	 	 	 	 
	

	 
	 	 
	

	 	Secretary
	 	[NAME]
	 
	 	 	 	 
	

	 	 	 	Participant’s Mailing Address
	 
	 	 	 	 
	

	 	 	 	 
	 
	 	 	 	 
	

	 	 	 	 
	 
	 	 	 	 
	

	 	 	 	 
	

	 	 	 	Employee Number:
	Version: 12-17-2004
	 	 	 

6exv10w11

 

EXHIBIT 10.11

AMENDMENT NO. 5 TO RECEIVABLES PURCHASE AGREEMENT

AND

AMENDMENT NO. 3 TO PERFORMANCE UNDERTAKING

          THIS AMENDMENT (this “Amendment”) is entered into as of November 9, 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, Amendment No. 3, dated as of August 4, 2004, and Amendment No. 4, dated as of
September 30, 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, and Amendment No. 2, dated as of September 30, 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, August 5, 2004, September 30, 2004 and October 18, 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. 4 to Receivables Purchase Agreement and Amendment No. 2 to Performance
Undertaking dated as of September 30, 2004, and 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 September 30, 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 will require Ceridian to restate past financial statements 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 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 quarters
of Ceridian ending June 30, 2004 and September 30, 2004, which does not extend to a
date later than December 31, 2004; (b) the determination by Ceridian that a
restatement is required of financial reports or other information previously
required to be delivered under this Agreement with respect to any periods ending
before June 30, 2004, as disclosed in Ceridian’s press release dated October 18,
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, August 5, 2004, September 30, 2004, and October 18, 2004 (the
“Review”); (c) any such actual restatement which is furnished to the Agent
on or before December 31, 2004, to the extent such restatement is not asserted in
writing by the Agent on or before January 15, 2005 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
either of the fiscal quarters ending June 30, 2004 or September 30, 2004 which are
furnished to the Agent on or before December 31, 2004, to the extent such effect is
not asserted in writing by the Agent on or before January 15, 2005 to be a material
restatement of such previously delivered financial reports or other information.

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          (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 the
fiscal quarters of Performance Guarantor ending June 30, 2004 and September 30,
2004, which does not extend to a date later than December 31, 2004; (b) the
determination by Performance Guarantor that a restatement is required of financial
reports or other information previously required to be delivered under this
Undertaking with respect to any periods ending before June 30, 2004, as disclosed in
Performance Guarantor’s press release dated October 18, 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, August 5, 2004, September 30, 2004 and October 18, 2004 (the
“Review”); (c) any such actual restatement which is furnished to the Agent
on or before December 31, 2004, to the extent such restatement is not asserted in
writing by the Recipient (or the Agent, as its assignee) on or before January 15,
2005 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 either of the fiscal
quarters ending June 30, 2004 or September 30, 2004 which are furnished to the
Recipient and the Agent on or before December 31, 2004, to the extent such effect is
not asserted in writing by the Recipient (or the Agent, as its assignee) on or
before January 15, 2005 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’s determination, as disclosed in Ceridian’s press
release dated October 18, 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)
when 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:

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     ; 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 determination, as disclosed in
its press release dated October 18, 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) when any such actual restatement is furnished to the Recipient (or to
the Agent, as its 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 quarters of Ceridian ending
June 30, 2004 or September 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 December 31, 2004; provided further, that it will not be a violation of this
Section 7.1(a) (x) because, as disclosed in Ceridian’s press release dated October
18, 2004, Ceridian has determined 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) when 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 quarters of Performance
Guarantor ending June 30, 2004 and September 30, 2004, Performance Guarantor will
not be required to deliver the reports or other information described above in this
Section 7 until December 31, 2004; provided further, that it will not be a
violation of this Section 7 (x) because, as disclosed in Performance Guarantor’s
press release dated October 18, 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) when such actual restatement is furnished to the
Recipient (or the Agent, as its assignee) to the extent such restatement is not

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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
either fiscal quarter ending June 30, 2004 or September 30, 2004 until the financial
reports required under Section 7(c) with respect to such period sare furnished in
accordance with the provisos at the end of this Section 7.

          Section 3. Condition to Effectiveness of this Amendment. This Amendment shall become
effective as of November 9, 2004 when each of the following conditions precedent has been
satisfied:

          (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

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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 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/ Lisa E. Peerman	 	 
	

	 	

	 	 
	Name: Lisa E. Peerman	 	 
	Title:   Vice President & Deputy Chief Counsel	 	 

CERIDIAN CORPORATION, as Performance Guarantor

	 	 	 	 	 
	By:

	 	/s/ David B. Kuhnau	 	 
	

	 	

	 	 
	Name: David B. Kuhnau	 	 
	Title:   Vice President and Treasurer	 	 

7

 

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	 	 

8

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"}]]