Document:

First Declaration of Amendment to Ceridian Corp. Employees' Benefit Trust Agm't

 Exhibit 10.17 
 CERIDIAN CORPORATION 
 EMPLOYEES’ BENEFIT PROTECTION 
 TRUST AGREEMENT 
 FIRST DECLARATION OF
AMENDMENT 
 Pursuant to the retained power of amendment contained in Section 9.1 of the Ceridian Corporation Employees’ Benefit Protection Trust
Agreement (the “Trust Agreement”), Ceridian Corporation (the “Company”) and U.S. Bank National Association (the “Trustee”), formerly known as First Trust National Association, hereby amend the Trust Agreement in the
manner described below. 
  

	1.	Section 1.1 of the Trust Agreement is amended to read as follows: 

 1.1 NAME. The name of the Trust is the “Ceridian Corporation Benefit Protection Trust.” 
  

	2.	Section 1.4 (j) of the Trust Agreement is amended to read as follows: 

 (j) “Participant” means a current or former employee of the Company or Subsidiary, or a current or former director of the Company, who is a party to, or a participant under, one or more of the Plans in
accordance with their terms and conditions. 
  

	3.	Section 1.4 (l) of the Trust Agreement is amended to read as follows: 

 (l) “Plan” means any plan, program, policy or agreement pursuant to which the Company or a Subsidiary is required to provide deferred or supplemental compensation to a current or former employee of the
Company or Subsidiary or a current or former director of the Company and which is listed on Schedule 1, as such schedule may be amended from time to time by the Board. 
  

	4.	Section 1.4(n) of the Trust Agreement is amended to read as follows: 

 (n) “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.

  

	5.	Item 2 of Schedule 1 to the Trust Agreement is amended to read as follows: 

  

	 	2.	Ceridian Corporation Executive Investment Plan (formerly known as the Ceridian Corporation Deferred Compensation Plan) 

 The foregoing amendments are effective as of January 1, 1999. 

 To acknowledge and affirm the foregoing amendments, the Company and the Trustee have caused this instrument to be
executed by their duly authorized officers. 
  

									
	U.S. BANK NATIONAL ASSOCIATION	 		 	CERIDIAN CORPORATION
					
	By:	 	 /s/ Robert Kaufer
	 		 	By:	 	 /s/ John R. Eickhoff

	Title:	 	Vice President	 		 	Title:	 	Vice President
					
	By	 	 /s/ Joan M. Hinnenkamp
	 		 	By:	 	 /s/ Gary M. Nelson

	Title:	 	Vice President	 		 	Title:	 	Secretary

  

			
	STATE OF MINNESOTA	  	)
		  	) ss.
	COUNTY OF HENNEPIN	  	)

 On this 29th day of October, 1998, before me personally appeared John R. Eickhoff and Gary M. Nelson, to me
personally known, who, being each by me duly sworn, did say that they are respectively the Vice President and Secretary of Ceridian Corporation, the corporation named in the foregoing instrument and that the instrument was signed on behalf of the
corporation, and they acknowledged the instrument to be the free act and deed of said corporation. 
  

	
	 /s/ Maryann Noleen

	Notary
	Hennepin County, Minnesota
	My commission expires 1/31/2000

  

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	STATE OF MINNESOTA	  	)
		  	) ss.
	COUNTY OF RAMSEY	  	)

 On this 2nd day of November, 1998, before me personally appeared Robert Kaufer and Joan Hinnenkamp, to me
personally known, who, being each by me duly sworn, did say that they are respectively the Vice President and Vice President of U.S. Bank National Association, the national banking association named in the foregoing instrument and that the
instrument was signed on behalf of the association, and they acknowledged the instrument to be the free act and deed of the association. 
  

	
	 /s/ Kathleen Donnelly

	Notary
	Ramsey County, Minnesota
	My commission expires 1/31/2000

 This document was drafted by 
 OPPENHEIMER WOLFF & DONNELLY LLP 
 3400 Plaza VII Building 
 45 South Seventh Street 
 Minneapolis, Minnesota 55402Second Declaration of Amendment to Ceridian Corp. Employees' Benefit Trust Agm't

 Exhibit 10.18 
 CERIDIAN CORPORATION 
 BENEFIT PROTECTION TRUST AGREEMENT 
 SECOND DECLARATION OF AMENDMENT 
 Pursuant to the retained
power of amendment contained in Section 9.1 of the Ceridian Corporation Benefit Protection Trust Agreement (the “Trust Agreement”), the undersigned hereby amend the Trust Agreement in the manner described below. 
  

	1.	Section 1.4 of the Trust Agreement is amended by redesignating Sections 1.4(e) through 1.4(p) as Sections 1.4(f) through 1.4(q) and by adding a new Subsection (e), which reads
as follows: 

 (e) “Company” means New Ceridian Corporation, renamed Ceridian Corporation after the
New Ceridian Spin-off (as defined in Section 1.7 of this Trust Agreement). 
  

	2.	A new Section 1.7 is added to the Trust Agreement which reads as follows: 

 1.7 NEW CERIDIAN SPIN-OFF. This Trust Agreement was made and entered into as of December 1, 1994 between Ceridian Corporation, a Delaware corporation, and First Trust National Association, now known as U.S. Bank
National Association. In connection with the spin-off by Ceridian Corporation of all of the outstanding common stock of New Ceridian Corporation, a Delaware corporation and wholly owned subsidiary of Ceridian Corporation (the “New Ceridian
Spin-off”), the Trust Agreement was amended, effective as of March 27, 2001, to substitute New Ceridian Corporation for Ceridian Corporation as the “Company” for all purposes of this Trust Agreement. (For the period from the
effective time of the substitution through the effective time of the New Ceridian Spin-off, Ceridian Corporation (to be renamed Arbitron Inc.) will be deemed to be a Subsidiary.) Following the New Ceridian Spin-off, Ceridian Corporation was renamed
Arbitron Inc. and New Ceridian Corporation was renamed Ceridian Corporation. Without limiting any other consequences resulting from the substitution described in this section, by reason of the substitution: 
 (a) Ceridian Corporation (formerly New Ceridian Corporation) is the grantor of the Trust; 
 (b) Ceridian Corporation (formerly New Ceridian Corporation) has all of the rights, powers, privileges and authority and all of the duties
and responsibilities arising under or in connection with the Trust Agreement that Arbitron Inc. (formerly Ceridian Corporation) had before the substitution; and 
 (c) Arbitron Inc. (formerly Ceridian Corporation) has no rights, powers, privileges, authority, duties or responsibilities to the Trustee
or any other person arising under or in connection with the Trust Agreement. 
 The foregoing amendments are effective as of March 27, 2001. 

 To acknowledge and affirm the foregoing amendments, the undersigned have caused this instrument to be executed by their
duly authorized officers. 
  

									
	U.S. BANK NATIONAL ASSOCIATION	 		 	CERIDIAN CORPORATION
					
	By:	 	 /s/ Paul N. Dadlez
	 		 	By:	 	 /s/ Shirley J. Hughes

	Title:	 	Assistant Vice President	 		 	Title:	 	Senior Vice President, Human Resources
	Date:	 	March 27, 2001	 		 	Date:	 	March 26, 2001
					
	By:	 	 /s/ M. R. Braun
	 		 	By:	 	 /s/ Gary M. Nelson

	Title:	 	Vice President	 		 	Title:	 	Vice President, General Counsel and Secretary
	Date:	 	March 27, 2001	 		 	Date:	 	March 26, 2001

 To evidence its consent to the foregoing amendments, the undersigned has caused this instrument to be executed by
its duly authorized officers. 
  

			
	NEW CERIDIAN CORPORATION
		
	By:	 	 /s/ Shirley J. Hughes

	Title:	 	Senior Vice President, Human Resources
	Date:	 	March 26, 2001
		
	By:	 	 /s/ Gary M. Nelson

	Title:	 	Vice President, General Counsel and Secretary
	Date:	 	March 26, 2001

  

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	STATE OF MINNESOTA	  	)
		  	) ss.
	COUNTY OF HENNEPIN	  	)

 On this 26th day of March, 2001, before me personally appeared Shirely J. Hughes and Gary M. Nelson, to me
personally known, who, being each by me duly sworn, did say that they are respectively the Senior Vice President and Secretary of Ceridian Corporation, the corporation named in the foregoing instrument and that the instrument was signed on behalf of
the corporation, and they acknowledged the instrument to be the free act and deed of said corporation. 
  

					
		 	{SEAL}	 	 /s/ Patricia A. Esterley

		 		 	Notary

  

			
	STATE OF MINNESOTA	  	)
		  	) ss.
	COUNTY OF RAMSEY	  	)

 On this 27th day of March, 2001, before me personally appeared Paul M. Dadlez and M. R. Brown, to me personally
known, who, being each by me duly sworn, did say that they are respectively the Assistant Vice President and Vice President of U.S. Bank National Association, the national banking association named in the foregoing instrument and that the instrument
was signed on behalf of the association, and they acknowledged the instrument to be the free act and deed of the association. 
  

					
		 	{SEAL}	 	 /s/ Eva M. VahaKangas

		 		 	Notary

  

			
	STATE OF MINNESOTA	  	)
		  	) ss.
	COUNTY OF HENNEPIN	  	)

 On this 26th day of March, 2001, before me personally appeared Shirely J. Hughes and Gary M. Nelson, to me
personally known, who, being each by me duly sworn, did say that they are respectively the Senior Vice President and Secretary of New Ceridian Corporation, the corporation named in the foregoing instrument and that the instrument was signed on
behalf of the corporation, and they acknowledged the instrument to be the free act and deed of said corporation. 
  

					
		 	{SEAL}	 	 /s/ Patricia A. Esterley

		 		 	Notary

  

 3Third Declaration of Amendment to Ceridian Corp. Employees' Benefit Trust Agm't

 Exhibit 10.19 
 CERIDIAN CORPORATION 
 BENEFIT PROTECTION TRUST AGREEMENT 
 THIRD DECLARATION OF AMENDMENT 
 Pursuant to the retained
power of amendment contained in Section 9.1 of the Ceridian Corporation Benefit Protection Trust Agreement (the “Trust Agreement”), the undersigned hereby amends the Trust Agreement in the manner described below. 
 1. Section 1.4 of the Trust Agreement is amended to read as follows: 
 1.4 ADDITIONAL DEFINITIONS. In addition to the definitions set forth above, for purposes hereof, unless otherwise clearly apparent from the context, the following terms have the following indicated meanings:

 (a) “Account” has the meaning set forth in Section 2.3(a). 
 (b) “Beneficiary” means one or more persons, trusts, estates or other entities, designated in accordance with a Plan, that are
entitled to receive benefits under a Plan upon the death of a Participant. 
 (c) “Board” means the board of
directors of the Company. When this Trust Agreement provides for an action to be taken by the Board, the action may be taken by any committee or individual authorized to take such action pursuant to a proper delegation of the Company’s board of
directors which remains in effect at the time in question. 
 (d) “Code” means the Internal Revenue Code of 1986, as
amended from time to time. 
 (e) “Company” means Ceridian Corporation, formerly known as New Ceridian Corporation.

 (f) “Company Stock” means common stock issued by the Company. 
 (g) “Committee” means the administrative committee appointed by the Company’s Chief Executive Officer to administer the
Trust. 
 (h) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time.

 (i) “Insolvent” has the meaning set forth in Section 3.4(a). 
 (j) “Insolvent Entity” has the meaning set forth in Section 3.4(a). 

 (k) “IRS” means the Internal Revenue Service. 
 (l) “Participant” means a current or former employee of the Company or a Subsidiary, or a current or former director of the
Company, who is a party to, or a participant under, one or more of the Plans in accordance with their terms and conditions. 
 (m) “Payment Schedule” has the meaning set forth in Section 3.3(b). 
 (n) “Plan” means any plan,
program, policy or agreement pursuant to which the Company or a Subsidiary is required to provide deferred or supplemental compensation to a current or former employee of the Company or Subsidiary or a current or former director of the Company and
which is listed on Schedule 1, as such schedule may be amended from time to time by the Board. 
 (o) “Subaccount”
has the meaning set forth in Section 2.3(b). 
 (p) “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. 
 (q) “Trust” means the trust established pursuant to this Trust Agreement as amended from time to time. 
 (r) “Trust Fund” means the assets held by the Trustee pursuant to the terms of this Trust Agreement and for the purposes of the Plans. 
 2. Section 2.2 of the Trust Agreement is amended to read as follows: 
 2.2 CONTRIBUTIONS. The Company
and the Subsidiaries, in their sole discretion, may at any time, or from time to time, make deposits of cash or other property acceptable to the Trustee in trust with the Trustee to be held, administered and disposed of by the Trustee as provided in
this Trust Agreement. In addition, the Company, in its sole discretion, may at any time, or from time to time, make deposits of Company Stock in trust with the Trustee to be held, administered and disposed of by the Trustee as provided in this Trust
Agreement. In connection with any deposit, the Committee will designate in writing to the Trustee the portion of the deposit attributable to each Account and, if applicable, Subaccount. Neither the Trustee nor any Participant or Beneficiary has any
right to compel such additional deposits. The Trustee has no duty to (a) collect or enforce payment to it of any contributions, (b) require that any contributions be made, (c) compute any amount to be paid to it or (d) determine
whether amounts paid comply with the terms of the Plans. 
 3. Section 3.2(a) of the Trust Agreement is amended to read as follows: 
 (a) To invest and reinvest the Trust Fund, together with the income therefrom, in common stock, including Company Stock, preferred stock,

  

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convertible preferred stock, mutual funds, bonds, debentures, convertible debentures and bonds, mortgages, notes, time certificates of deposit, commercial
paper and other evidences of indebtedness (including those issued by the Trustee or any of its affiliates), financial futures contracts, other securities, policies of life insurance, annuity contracts, options to buy or sell securities or other
assets, and other property of any kind (personal, real, or mixed, and tangible or intangible). 
 4. Section 3.2(k) of the Trust Agreement is amended to
read as follows: 
 (k) To vote all stocks and to exercise all rights incident to the ownership of stocks, bonds, or other
securities or properties held in the Trust Fund, including Company Stock, and to issue proxies to vote such stocks; to enter into voting trusts for such period and upon such terms as it may determine; to give general or special proxies or powers of
attorney, with or without substitution; to sell or exercise any and all subscription rights and conversion privileges; to sell or retain any and all stock dividends; to oppose, consent to, or join in any plan of reorganization, readjustment, merger,
or consolidation in respect to any corporation whose stocks, bonds, or other securities are a part of the Trust Fund, including becoming a member of any stockholders’ or bondholders’ committee; to accept and hold any new securities issued
pursuant to any plan of reorganization, readjustment, merger, consolidation, or liquidation; to pay any assessments on stocks or securities or to relinquish the same; and to otherwise exercise any and all rights and powers to deal in and with the
securities and properties held in the Trust Fund in the same manner and to the same extent as any individual owner and holder thereof might do. 
 5.
Section 3.4(a) of the Trust Agreement is amended by adding a new final sentence which reads as follows: 
 Company Stock or other assets
contributed by the Company for the benefit of a Participant who is or was an employee of a Subsidiary with respect to his or her service as such is subject to the claims of the creditors of both the Company and the Subsidiary in the event that
either the Company or the Subsidiary becomes an Insolvent Entity. 
 6. Section 9.7(a) (1) of the Trust Agreement is amended to read as follows:

 (1) By the Company and the Trustee, provided, however, that (A) if an amendment would in any way adversely affect the
rights created by the Plans or this Trust Agreement of any Participant or Beneficiary in the Trust Fund, each and every Participant and Beneficiary whose rights in the Trust Fund would be adversely affected must consent to the amendment before this
Trust Agreement may be so amended and (B) no consent is required pursuant to clause (A) with respect to an amendment that modifies or eliminates any provision in this Trust Agreement expressly related to Company Stock; and 
  

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 (2) By the Company and the Trustee as may be necessary to comply with laws which would
otherwise render the Trust void, voidable or invalid in whole or in part. 
 7. Section 9.2 of the Trust Agreement is amended to read as follows:

 9.2 FINAL TERMINATION. The Trust will not terminate until the date on which Participants and their Beneficiaries are no longer entitled to
benefits pursuant to the terms of the Plans. Upon termination of the Trust, any assets remaining in the Trust will be returned to the Company and the Subsidiaries. Such remaining assets will be paid by the Trustee to the Company and the Subsidiaries
in such amounts and in the manner instructed by the Committee, whereupon the Trustee will be released and discharged from all obligations hereunder; provided, that any Company Stock or other assets contributed by the Company for the benefit of a
Participant who is or was an employee of a Subsidiary with respect to his or her service as such may only be paid by the Trustee to the Company. From and after the date of termination and until final distribution of the Trust Fund, the Trustee will
continue to have all of the powers provided herein as are necessary or expedient for the orderly liquidation and distribution of the Trust Fund. 
 8.
Item 2 of Schedule 1 to the Trust Agreement is amended to read as follows: 
  

	 	2.	Ceridian Corporation Deferred Compensation Plan (formerly known as the Ceridian Corporation Executive Investment Plan) 

 The foregoing amendments are effective as of August 1, 2001. 
 To
acknowledge and affirm the foregoing amendments, the Company and the Trustee have caused this instrument to be executed by their duly authorized officers. 
  

									
	U.S. BANK NATIONAL ASSOCIATION	 		 	CERIDIAN CORPORATION
					
	By:	 	 /s/ Paul M. Dadlez
	 		 	By:	 	 /s/ Shirley J. Hughes

	Title:	 	Assistant Vice President	 		 	Title:	 	Sr. Vice President
	Date:	 	August 14, 2001	 		 	Date:	 	July 26, 2001
					
	By:	 	 /s/ M. R. Braun
	 		 	By:	 	 /s/ William E. McDonald

	Title:	 	Vice President	 		 	Title:	 	Deputy Secretary
	Date:	 	August 14, 2001	 		 	Date:	 	July 26, 2001

  

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	STATE OF MINNESOTA	  	)	  		  		  	
		  	)	  	ss.	  		  	
	COUNTY OF HENNEPIN	  	)	  		  		  	

 On this 26th day of July, 2001, before me personally appeared Shirley J. Hughes and William E. McDonald, to me
personally known, who, being each by me duly sworn, did say that they are respectively the Senior Vice President and Deputy Secretary of Ceridian Corporation, the corporation named in the foregoing instrument and that the instrument was signed on
behalf of the corporation, and they acknowledged the instrument to be the free act and deed of said corporation. 
  

							
		  	{SEAL}	 		 	 /s/ Pamela J. Emerson

		  		 		 	Notary

  

									
	STATE OF MINNESOTA	  	)	  		  		  	
		  	)	  	ss.	  		  	
	COUNTY OF RAMSEY	  	)	  		  		  	

 On this 14th day of July, 2001, before me personally appeared Paul M. Dadlez and M. R. Braun, to me personally
known, who, being each by me duly sworn, did say that they are respectively the Assistant Vice President and Vice President of U.S. Bank National Association, the national banking association named in the foregoing instrument and that the instrument
was signed on behalf of the association, and they acknowledged the instrument to be the free act and deed of the association. 
  

							
		  	{SEAL}	 		 	 /s/ Kathleen Donnelly

		  		 		 	Notary

  

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