Document:

Ceridian Corporation Benefit Equalization Plan

 Exhibit 10.19 
 CERIDIAN CORPORATION 
 BENEFIT EQUALIZATION PLAN 
 Restated and Revised 
 Fourth
Declaration of Amendment 
 Pursuant to the retained power of amendment contained in Section 4.2 of the Ceridian Corporation Benefit
Equalization Plan, the undersigned hereby revises and restates the Fourth Declaration of Amendment, dated October 25, 2006 and amends the Plan in the manner described below. 
 1. A new Section 1.4 is added to the Plan to read as follows: 
 “1.4 Compliance with Code Section 409A. Benefits that are subject to the provisions of Section 409A of the Code (the “Non-Grandfathered Amount”), namely the amount that exceeds the
benefit that was accrued and vested under the Plan as of December 31, 2004 (the “Grandfathered Benefit”), shall be subject to the special provisions of Supplement A, which has been added to the Plan by the Restated and Revised Fourth
Declaration of Amendment. The Grandfathered Benefit will continue to be subject to the terms of the Plan without regard to Supplement A, and the Grandfathered Benefit is not intended to be subject to Section 409A of the Code. For purposes of
administering the Plan and payments under the Plan, the Grandfathered Benefit will be treated as maintained under a plan that is separate from the Non-Grandfathered Benefit that is subject to Supplement A.” 
 2. Section 2.3(A) is amended effective as of January 1, 2008 by adding the following language to the end of such section: 
 “In connection with the freezing of benefit accruals under the Pension Plan, compensation reductions under this Clause (A) ceased as of
January 1, 2008.” 
 3. The Plan is amended by adding a Supplement A to the Plan to read as provided in the attached
“Supplement A – Non-Grandfathered Benefit.” 
 The undersigned has caused this Restated and Revised Fourth Declaration of
Amendment to be executed by its duly authorized officers this 30th day of December, 2008. 
  

							
		 		  	CERIDIAN CORPORATION
				
	Attest:	 	 /s/ Michael W. Sheridan
	  	By	 	 /s/ Kairus Tarapore

		 	Secretary	  	Name:	 	Kairus Tarapore
		 		  	Title:	 	EVP, HR

 Supplement A - Non-Grandfathered Benefit 
 Ceridian Corporation 
 Benefit Equalization Plan 
 Section A-1. Purpose and Effect. The purpose of this Supplement A to the Ceridian Corporation Benefit Equalization Plan is to modify and
supplement the terms of the Plan only as they apply to deferred compensation amounts that are accrued on or after January 1, 2005 and that are subject to the requirements of Section 409A of the Code (the “Non-Grandfathered
Benefit”). As it relates to the Non-Grandfathered Benefit, the Plan, as amended by this Supplement A, is intended to satisfy the requirements of Section 409A of the Code and the terms shall be construed and administered in a manner that is
consistent with and gives effect to such intention. 
 Section A-2. Definitions. For purposes of this Supplement A, the following
terms have the meanings set forth below, unless the context clearly indicates otherwise: 
 “Affiliate” means all persons with whom
the Company would be considered a single employer under Section 414(b) or 414(c) of the Code. 
 “Separation from Service”
means a termination of a Participant’s employment relationship with the Company and all Affiliates or such other change in the Participant’s employment relationship or status with the Company and all Affiliates that would be considered a
‘separation from service’ under Section 409A of the Code. A Participant’s employment relationship will be treated as remaining intact while the Participant is on a military leave, a sick leave or other bona fide leave of absence
(pursuant to which there is a reasonable expectation that the Participant will return to perform services for the Company or an Affiliate) but only if the period of such leave does not exceed six (6) months, or if longer, so long as the
Participant retains a right to reemployment by the Company or an Affiliate under applicable statute or by contract, provided, however, where the Participant’s leave is due to any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period of not less than six (6) months and such impairment causes the Participant to be unable to perform the duties of his or her position of employment or any
substantially similar position of employment, a twenty-nine (29) month period of absence shall be substituted for such six (6) month period of absence. In all cases, a Participant’s Separation from Service must constitute a
‘separation from service’ under Section 409A of the Code and any ‘separation from service’ under Section 409A of the Code shall be treated as a Separation from Service. 
 “Specified Employee” means a Participant, on the date of his or her Separation from Service is a ‘key employee’ (defined below), and
the Company or any Affiliate has stock that is publicly traded on an established securities market within the meaning of such term under Section 409A(a)(2)(B) of the Code. For this purpose, a Participant is a ‘key employee’ during the
12-month period beginning on the April 1 immediately following a calendar year, if he or she was 

  

 Supplement A-1 

 
employed by the Company or any Affiliate and satisfied, at any time during such preceding calendar year, the requirements of Section 416(i)(1)(A)(i),
(ii) or (iii) of the Code (applied in accordance with the regulations issued thereunder and disregarding Section 416(i)(5) of the Code). A Participant will not be treated as a Specified Employee if he or she is not required to be
treated as a Specified Employee under Treasury Regulations issued under Section 409A of the Code. 
 Section A-3. Benefit
Payment. 
  

	 	(A)	Notwithstanding Section 2.2(A), payment of a benefit to any Participant determined pursuant to Section 2.1(B) or surviving spouse or other person determined pursuant to
Section 2.1(C) will be made or commence, as the case may be, at the same time and in the same form as his or her benefit under the Pension Plan provided the election is made under the Pension Plan on or before December 31, 2006; otherwise,
payment of the Non-Grandfathered Benefit will be determined and made as follows: 

 (1) Form. Payment
will be in the form of an actuarial equivalent lump sum payment calculated as of the first day of the fourth calendar month that begins after the calendar month during which the Participant has a Separation from Service (the “Calculation
Date”), calculated in the manner provided under the Pension Plan. 
 (2) Payment. Payment of a Participant’s
Non-Grandfathered Benefit will be made on or as soon as administratively practicable, but not more than ninety (90) days, after the Calculation Date. 
 (3) Death. If a Participant dies before the Calculation Date, then the Participant’s surviving spouse is entitled to the benefit determined under Section 2.1(C). If the Participant dies after the
Calculation Date and before receipt of his or her benefits, the lump sum payment will be paid to the Participant’s surviving spouse, or if the Participant is not survived by a spouse, to the Participant’s estate, on the date on which the
Participant would have received the payment had he or she survived. 
  

	 	(B)	Notwithstanding Section 2.2(D)(2) no Participant is eligible to make an election under such Section after December 31, 2006 with respect to his or her Non-Grandfathered
Benefit. 

  

	 	(C)	Notwithstanding the provisions of Section 2.2(D)(3), a Participant may not revoke an election under such Section with respect to his or her Non-Grandfathered Benefit to a
Participant’s Non-Grandfathered Benefit after December 31, 2006. 

  

	 	(D)	Section 2.2(E) shall cease to apply effective January 1, 2005. 

 Section A-4. Entitlement. Notwithstanding Section 2.3(A), for purposes of Participant’s Non-Grandfathered Benefit, the election to forego compensation shall only become effective 

  

 Supplement A-2 

 
with respect to services performed in the Plan Year following the Plan Year in which the election was made and shall be irrevocable for the Plan Year
following commencement of such Plan Year. 
 Section A-5. Reemployment. Notwithstanding Section 2.3(D), if a Participant who is
receiving or entitled to receive a Non-Grandfathered Benefit pursuant to the Plan is reemployed with a Participating Employer or an Affiliate of a Participating Employer and, in connection with such reemployment, his or her Pension Plan benefit
payment is suspended, his or her Non-Grandfathered Benefit under this Plan will be continued and will not be suspended for the same period. Any additional benefits earned under the Plan while reemployed will be paid following the Participant’s
subsequent Separation from Service. 
 Section A-6. Six-Month Suspension for Specified Key Employee. If, at the time of the
Participant’s Separation from Service (other than on account of death) the Participant is a “specified employee” (as defined in Treas. Reg. Sec. 1.409A-1(i)), then, for purposes of complying with the requirements of
Section 409A(a)(2)(B)(i) of the Code, any payment of the Participant’s Non-Grandfathered Benefit due under Article 2 will be suspended and not paid until the first day immediately following the date that is six (6) months after the
date of the Participant’s Separation from Service (or if earlier, upon the Participant’s death). Any payment that is delayed by operation of this Section A-5 will be credited with simple interest equal to the annual interest rate in effect
under the Pension Plan for determining lump sum amounts multiplied by a fraction the numerator of which is the number of days the payment is suspended and the denominator of which is 365. 
 Section A-7. Acceleration of Payment. Notwithstanding Section 4.3(A)(2), if (and only to the extent) the Non-Grandfathered Benefit has become
subject to tax under Section 409A of the Code, will such Participant’s Non-Grandfathered Benefit under the Plan to be distributed to the Participant in the form of an immediate lump sum. 
 Section A-8. Termination. Notwithstanding the provisions of Section 4.4(B), the acceleration of payments following a termination of the Plan
will be made if and only to the extent and at the times permitted under Section 409A of the Code. 
 Section A-9. Section 162(m)
Deferral. Notwithstanding Section 4.4(C), payment of a Participant’s Non-Grandfathered Benefit may be delayed if and only to the extent the Company complies with the requirements of Treas. Reg. Section 1.409-2(b)(7)(i).

 Section A-10. No Offsets. Notwithstanding Section 1.1, the Participating Employers may not offset against a Participant’s
Non-Grandfathered Benefit any amount then owing to the Participating Employers. 
 Section A-11. Source of Payment of Benefits. The
Company shall provide that no assets held by a grantor trust in accordance with Section 9.2 of the Plan that relate to the Non-Grandfathered Benefit will be held outside of the United States in violation of Section 409A(b)(1) of the Code.

  

 Supplement A-3Amended and Restated Change in Control Severance Policy

 Exhibit 10.26 
 Amended and Restated 
 Change in Control Severance Policy 
 Effective as of December 31, 2008 
 The purpose
of this Change in Control Severance Policy is to ensure severance benefits to the classes of employees of Ceridian Corporation, a Delaware corporation, and its subsidiaries (collectively, “Ceridian”) described below should a
Change in Control (as defined below) occur on or before December 31, 2007. This Change in Control Severance Policy will go into effect as of the date the Change in Control occurs and be in effect through the two year period after the Change in
Control occurs. This Change in Control Severance Policy may not be rescinded or amended in a manner that is adverse to any employee (x) prior to December 31, 2007, or (y) if a Change of Control shall occur prior to such time, at any
time during the two year period following a Change of Control. During such time as this policy is in effect, each employee shall be entitled to the severance provided herein following the occurrence of a Change of Control Termination (as defined
below) within two years following a Change of Control. Unless otherwise indicated by specific designation of a non-U.S. employee, this Change in Control Severance Policy shall apply solely with respect to U.S. employees. For the avoidance of doubt,
a Change of Control occurred on November 9, 2007. 
 Ceridian (other than Comdata) 
  

									
	 	  	 Directors
	  	 Vice Presidents
	  	 Senior Vice Presidents
	  	 Business Leaders

	Severance Amount	  	Greater of ERISA severance formula or 3 months base pay	  	Greater of ERISA severance formula or 6 months base pay	  	 Greater of ERISA severance formula, or
  
 <15 years of service - 12 months base pay, or
  
 15+ years of service - 15 months base pay
	  	 Greater of ERISA severance formula, or
  
 2 years of base pay

					
	Job Search Assistance	  	$8,000	  	$8,000	  	$12,000	  	$12,000
					
	COBRA subsidy	  	6 months	  	6 months	  	6 months	  	6 months
					
	Notice Period	  	2 weeks	  	2 weeks	  	One month	  	One month

 The Severance Amount will be payable in a lump sum on or
before the 60th day following the date of termination of the participant’s employment with Ceridian. In no event shall a participant’s
date of termination of employment with Ceridian occur until the participant experiences a “separation from service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”). 
 Job search assistance shall be provided at the sole expense of Ceridian, subject to the dollar limits described above;
provided that such job search assistance shall end not later than the last day of the second calendar year that begins after the date of termination of the participant’s employment with Ceridian. 

 The COBRA subsidy shall be provided in the following manner: Ceridian will continue to pay its share of the applicable
premiums under the medical, dental and vision plans for the COBRA coverage selected provided that the selected coverage cannot exceed the same level and type of coverage in which the participant is enrolled as of the date of termination of the
participant’s employment with Ceridian. To receive the COBRA subsidy, the participant must properly enroll in COBRA coverage, and must also pay such premiums and other costs for such coverage as generally applicable to Ceridian’s active
employees. 
 Payments of base pay during the Notice Period shall be made in accordance with Ceridian’s regular payroll practices. 
 For purposes of this Change in Control Severance Policy, “Business Leaders” shall include any employee of Ceridian designated by Ceridian
Corporation’s Chief Executive Officer based on such individual’s role and responsibilities within Ceridian as well as each of the individuals set forth below: 
  

	 	1.	Dave MacKay, Chief Operating Officer, Ceridian Canada 

  

	 	2.	Zachary Meyer, Senior Vice President, LifeWorks 

  

	 	3.	Brett Rodewald, President, Comdata Network 

  

	 	4.	Doug Sawers, Managing Director, Ceridian UK 

  

	 	5.	John Shade, Senior Vice President, General Manager, Ceridian Benefits Services 

  

	 	6.	Ralph Rolen, Executive Vice President, General Manager, Comdata Stored Value Solutions 

  

	 	7.	Keith Strodtman, Senior Vice President, HRO 

 Comdata

  

			
	 	  	 Senior Vice Presidents and Vice Presidents

	Severance Amount	  	Greater of severance formula or one year of base pay
	COBRA subsidy	  	6 months

 The Severance Amount will be payable in a lump sum on or
before the 60th day following the date of termination of the participant’s employment with Ceridian. In no event shall a participant’s
date of termination of employment with Ceridian occur until the participant experiences a “separation from service” within the meaning of Section 409A of the Code. 
 The COBRA subsidy shall be provided in the following manner: Ceridian will continue to pay its share of the applicable premiums under the medical, dental and vision plans for the COBRA coverage selected provided that
the selected coverage cannot exceed the same level and type of coverage in which the participant is enrolled as of the date of termination of the participant’s employment with Ceridian. To receive the COBRA subsidy, the participant must
properly enroll in COBRA coverage, and must also pay such premiums and other costs for such coverage as generally applicable to Ceridian’s active employees. 
  

 Page 2 of 5 

 For purposes of this Change in Control Severance Policy, “Change of Control” shall mean the first of the
following events to occur: 
  

	1.	there is consummated a merger or consolidation to which Ceridian or any direct or indirect subsidiary of Ceridian is a party if the merger or consolidation would result in the
voting securities of Ceridian 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 Ceridian or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation; or 

  

	2.	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 Ceridian representing twenty percent (20%) or more of the total combined voting power of Ceridian’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 hereof, the following acquisitions shall not constitute a Change of Control: (A) any acquisition by Ceridian or any of its subsidiaries, (B) any acquisition directly from
Ceridian or any of its subsidiaries, (C) any acquisition by any employee benefit plan (or related trust or fiduciary) sponsored or maintained by Ceridian or any corporation controlled by Ceridian, (D) any acquisition by an underwriter
temporarily holding securities pursuant to an offering of such securities, (E) any acquisition by a corporation owned, directly or indirectly, by the stockholders of Ceridian in substantially the same proportions as their ownership of stock of
Ceridian, (F) 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 on Schedule 13D, beneficial ownership of all of the voting securities of Ceridian beneficially
owned by it on such date, and (G) any acquisition in connection with a merger or consolidation which, pursuant to paragraph (1) above, does not constitute a Change of Control; or 

  

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

  

 Page 3 of 5 

	4.	the stockholders of Ceridian approve any plan or proposal for the liquidation of Ceridian; or 

  

	 5.
	 a change in the composition of the Board of Directors of Ceridian Corporation (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 (A) those members of the Board who
were directors on the date hereof, and (B) those members of the 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 Ceridian) who were elected or appointed by, or on the nomination or recommendation of, at least a two-thirds ( 2/3) majority of the then-existing directors who either were directors on the date hereof or were previously so elected or appointed; or 

  

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

 Notwithstanding any provision to the contrary, a Change of Control shall not include a sale, spin off, reverse spin off or similar disposition of any subsidiary of Ceridian Corporation, unless or until the Board shall
determine that such disposition constitutes a Change of Control. 
 For purposes of this Change in Control Severance Policy, for Business Leaders, Directors,
Vice Presidents and Senior Vice Presidents of Ceridian (other than Comdata) and Senior Vice Presidents and Vice Presidents of Comdata, “Change of Control Termination” shall mean: 
  

	1.	termination of executive’s employment by Ceridian for any reason other than: 

  

	 	a)	fraud; 

  

	 	b)	theft or embezzlement of Ceridian assets; 

  

	 	c)	conviction of a crime involving moral turpitude; or 

  

	 	d)	failure to follow Ceridian’s conduct and ethics policies. 

 In
addition, with respect to Business Leaders of Ceridian (other than Comdata) only, for purposes of this Change in Control Severance Policy, “Change of Control Termination” shall also include: 
  

	2.	termination of the executive’s employment for “good reason”, defined as any of the following events that occur without the executive’s express written consent:

  

	 	a)	a change in executive’s reporting responsibilities or titles which has the effect of materially diminishing executive’s responsibility or authority, excluding for this
purpose an isolated, insubstantial or inadvertent action not taken in bad faith and which is remedied by Ceridian promptly after receipt of written notice thereof given by executive and excluding any diminution attributable to a sale, spin off,
reverse spin off or similar disposition of any subsidiary of Ceridian; 

  

 Page 4 of 5 

	 	b)	a reduction by Ceridian in executive’s base salary or bonus opportunity or as the same may be increased from time to time thereafter or any failure by Ceridian to pay any
portion of executive’s compensation when due, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by Ceridian promptly after receipt of written notice thereof given by executive;

  

	 	c)	Ceridian requiring executive to be based anywhere other than within 50 miles of executive’s job location; or 

  

	 	d)	without replacement by plans, programs, or arrangements which, taken as a whole, provide benefits to executive at least reasonably comparable to those discontinued or adversely
affected, (i) the failure by Ceridian to continue in effect, any bonus, incentive, stock ownership, purchase, option, life insurance, health, accident, disability, or any other employee compensation or benefit plan, program or arrangement, in
which executive is participating; or (ii) the taking of any action by Ceridian that would materially and adversely affect executive’s participation or materially reduce executive’s benefits under any of such plans, programs or
arrangements. 

  

	3.	termination of the business leader’s employment by Ceridian other than for the reasons described in 1.a), b), c) and d) above, but including 2. above, during the pendency of a
potential change of control and executive reasonably demonstrates that such termination was at the request or direction of a person or entity who has entered into an agreement, the consummation of which would result in a Change of Control, or is
otherwise in connection with or in anticipation of a Change of Control (whether or not a Change of Control ever occurs). For purposes of this policy, in the event of a termination described in the preceding sentence, a Change of Control will be
deemed to have occurred immediately prior to the termination of executive’s employment for purposes of this policy. 

 A Change of Control
Termination by executive shall not include termination by reason of death or disability. 
 *    *    * 
 The undersigned assistant secretary of Ceridian Corporation, a Delaware corporation, does
hereby attest that the foregoing Amended and Restated Change in Control Severance Policy was adopted for the corporation by its Board of Directors as of December 22, 2008. 
  

	
	 /s/ Albert J. Bart

	 Albert J. Bart, Assistant Secretary

  

 Page 5 of 5

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