Document:

exv10w12

 

EXHIBIT 10.12

AMENDMENT NO. 6 TO RECEIVABLES PURCHASE AGREEMENT

AND

AMENDMENT NO. 4 TO PERFORMANCE UNDERTAKING

          THIS AMENDMENT (this “Amendment”) is entered into as of December 31, 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, Amendment No. 4, dated as of
September 30, 2004, and Amendment No. 5, dated as of November 9, 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, Amendment No. 2, dated as of September 30, 2004, and
Amendment No. 3, dated as of November 9, 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 reports on Form 10-Q with respect to the
fiscal quarter ending June 30, 2004 and September 30, 2004 within the time periods
contemplated by Amendment No. 5 to Receivables Purchase Agreement and Amendment No.
3 to Performance Undertaking dated as of November 9, 2004, and Ceridian and the
Seller Parties have requested that the Agent and the Purchasers agree to certain
potential amendments of the Purchase Agreement and the Performance Undertaking to
accommodate the possibility that Ceridian will not be able to make such filings
within such time periods.

     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 January 14, 2005; (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 January 14, 2005, to the extent such restatement is not asserted in
writing by the Agent on or before January 28, 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 January 14, 2005, to the extent such effect is
not asserted in writing by the Agent on or before January 28, 2005 to be a material
restatement of such previously delivered financial reports or other information.

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

     It is understood and agreed that none of the following, individually or in the
aggregate, will constitute a Material Adverse Effect: (a) any delay in filing
Performance Guarantor’s quarterly report on Form 10-Q filed with the SEC for the
fiscal quarters of Performance Guarantor ending June 30, 2004 and September 30,
2004, which does not extend to a date later than January 14, 2005; (b) the

2

 

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 January 14, 2005, to the extent such restatement is not asserted in
writing by the Recipient (or the Agent, as its assignee) on or before January 28,
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 January 14, 2005, to the extent such effect is
not asserted in writing by the Recipient (or the Agent, as its assignee) on or
before January 28, 2005 to be a material restatement of such previously delivered
financial reports or other information.

          (d) The provisos to Section 7.1(a) of the Purchase Agreement are hereby amended and restated
in their collective entirety to read as follows:

     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 January 14, 2005.

          (e) The provisos to Section 7 of the Performance Undertaking are hereby amended and restated
in their collective entirety to read as follows:

     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 January 14, 2005.

          Section 3. Condition to Effectiveness of this Amendment. This Amendment shall become
effective as of December 31, 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

3

 

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

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

          Section 4. Miscellaneous.

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

4

 

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)

5

 

          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	 	 
	Title:   Vice President and Treasurer	 	 

6

 

JUPITER SECURITIZATION CORPORATION

	 	 	 	 	 
	By:

	 	/s/ Maureen Marcon	 	 
	

	 	

	 	 
	Name: Maureen Marcon	 	 
	Title:   Authorized Signer	 	 

BANK ONE, NA (MAIN OFFICE CHICAGO),

as a Financial Institution and as Agent

	 	 	 	 	 
	By:

	 	/s/ Maureen Marcon	 	 
	

	 	

	 	 
	Name: Maureen Marcon	 	 
	Title:   Director	 	 

7exv10w13

 

EXHIBIT 10.13

AMENDMENT NO. 7 TO RECEIVABLES PURCHASE AGREEMENT

AND

AMENDMENT NO. 5 TO PERFORMANCE UNDERTAKING

          THIS AMENDMENT (this “Amendment”) is entered into as of January 14, 2005, 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
JPMorgan Chase Bank, N.A., successor by merger to 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, Amendment No. 4, dated as of
September 30, 2004, Amendment No. 5, dated as of November 9, 2004 and Amendment No.
6, dated as of December 31, 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, Amendment No. 2, dated as of September 30, 2004,
Amendment No. 3, dated as of November 9, 2004 and Amendment No. 4, dated as of
December 31, 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 may not be able to file with the Securities and Exchange
Commission (“SEC”) its quarterly reports on Form 10-Q with respect to the
fiscal quarter ending June 30, 2004 and September 30, 2004 within the time periods
contemplated by Amendment No. 6 to Receivables Purchase Agreement and Amendment No.
4 to Performance Undertaking dated as of December 31, 2004, and Ceridian and the
Seller Parties have requested that the Agent and the Purchasers agree to certain
potential amendments of the Purchase Agreement and the Performance Undertaking to
accommodate the possibility that Ceridian will not be able to make such filings
within such time periods.

     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 February 28, 2005; (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 February 28, 2005, to the extent such restatement is not asserted in
writing by the Agent on or before fourteen (14) days after the Agent’s receipt
thereof 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 February
28, 2005, to the extent such effect is not asserted in writing by the Agent to be a
material restatement of such previously delivered financial reports or other
information on or before fourteen (14) days after any such effect is communicated in
writing to the Agent.

          (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

2

 

30, 2004, which does not extend to a date later than February 28, 2005; (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 February 28, 2005, to the extent such restatement is not asserted in
writing by the Recipient (or the Agent, as its assignee) on or before fourteen (14)
days after the Agent’s receipt thereof 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 February 28, 2005,
to the extent such effect is not asserted in writing by the Recipient (or the Agent,
as its assignee) on or before fourteen (14) days after such financial statements are
furnished to be a material restatement of such previously delivered financial
reports or other information.

          (c) The provisos to Section 7.1(a) of the Purchase Agreement are hereby amended and restated
in their collective entirety to read as follows:

     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 February 28, 2005.

          (d) The provisos to Section 7 of the Performance Undertaking are hereby amended and restated
in their collective entirety to read as follows:

     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 February 28, 2005.

          Section 3. Agreement to Pay Supplemental Fee. In addition to the fee described in
Section 4(d) of this Amendment, as an inducement to the Agent and the Purchasers to agree to the
amendments set forth in Section 2 above, in the event that the Performance Guarantor has not filed
its quarterly report on Form 10-Q filed with the SEC for the fiscal quarters ending June 30, 2004
and September 30, 2004, on or before February 7, 2005, on February 8, 2005, the Performance
Guarantor will pay to the Agent a fully-earned and non-refundable supplemental fee of $10,000
(which fee may be shared with the Purchasers in such proportions as the Agent and the Purchasers
may agree upon).

3

 

          Section 4. Condition to Effectiveness of this Amendment. This Amendment shall become
effective as of January 14, 2005 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).

          (d) Fee. The Agent shall have received a fully-earned and non-refundable amendment
fee of $5,000 in immediately available funds.

          Section 5. Miscellaneous.

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

4

 

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)

5

 

          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	 	 

6

 

JUPITER SECURITIZATION CORPORATION

	 	 	 	 	 
	By:

	 	/s/ Ronald J. Atkins	 	 
	

	 	

	 	 
	Name: Ronald J. Atkins	 	 
	Title:   Authorized Signer	 	 

JPMORGAN CHASE BANK, N.A., successor by merger to bank one, NA,

as a Financial Institution and as Agent

	 	 	 	 	 
	By:

	 	/s/ Ronald J. Atkins	 	 
	

	 	

	 	 
	Name: Ronald J. Atkins	 	 
	Title:   Director	 	 

7

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