Document:

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                                                                    EXHIBIT 10.2

                                                                         Annex V
                                                                           to
                                                                    Subscription
                                                                       Agreement

                          REGISTRATION RIGHTS AGREEMENT

            THIS REGISTRATION RIGHTS AGREEMENT, dated as of March 21, 2000 (this
"Agreement"), is made by and between e4L, INC., a Delaware corporation (the
"Company"), and the person named on the signature page hereto (the "Initial
Investor").

                              W I T N E S S E T H:
                               - - - - - - - - - -

            WHEREAS, in connection with the Subscription Agreement, dated as of
March 21, 2000, between the Initial Investor and the Company (the "Subscription
Agreement"), the Company has agreed, upon the terms and subject to the
conditions of the Subscription Agreement, to issue and sell to the Initial
Investor shares (the "Preferred Shares") of Series G Convertible Preferred
Stock, $.01 par value (the "Series G Preferred Stock") and Series H Convertible
Preferred Stock, $.01 par value (the "Series H Preferred Stock"), of the Company
as provided in the Subscription Agreement, which Preferred Shares are
convertible into shares (the "Conversion Shares") of Common Stock, $.01 par
value (the "Common Stock"), of the Company, and to issue common stock purchase
warrants (the "Warrants") to purchase shares (the "Warrant Shares") of Common
Stock; and

            WHEREAS, to induce the Initial Investor to execute and deliver the
Subscription Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and
regulations thereunder, or any similar successor statute (collectively, the
"1933 Act"), and applicable state securities laws with respect to the Conversion
Shares and the Warrant Shares;

            NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Initial Investor hereby agree as follows:

            1. Definitions.

            (a) As used in this Agreement, the following terms shall have the
following meanings:

            "Blackout Period" means any period of one or more consecutive
Trading Days, but not in excess of 15 Trading Days, occurring after the SEC
Effective Date as to which the Company has notified the holders of shares of
Series G Preferred Stock and Series H Preferred Stock on or prior to such
Trading Day that they are required, pursuant to Section 3(f), to suspend offers
and sales of shares of Common Stock pursuant to the Registration Statement as a
result of an event or circumstance which relates to a development concerning the
business of the Company which development occurred subsequent to the later of
(x) the SEC Effective Date and (y) the latest date prior to such notice on which
the Board of Directors shall have determined in good faith that public
disclosure of such event or circumstance at such time would not be in the best
interests of the Company, which determination shall be set forth in a resolution
duly adopted by the Board of Directors and copies of which shall be furnished to
the holders of shares of Series G Preferred Stock and Series H Preferred Stock.

            "Certificates of Designations" means the Certificate of Designations
of the Series G Convertible Preferred Stock establishing and designating the
Series G Preferred Stock and fixing the rights and preferences of such series
and the Certificate of Designations of the Series H Convertible Preferred Stock
establishing and designating the Series H Preferred Stock and fixing the rights
and preferences of such series, in each case as filed by the Company with the
Secretary of State of the State of Delaware.

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            "Computation Date" means, if a Registration Event occurs, any of (1)
the date which is 30 days after such Registration Event occurs, if any
Registration Event is continuing on such date, (2) each date which is 30 days
after a Computation Date, if any Registration Event is continuing on such date,
and (3) the date on which all Registration Events cease to continue.

            "Investor" or "Investors" means the Initial Investor and any
transferee or assignee who agrees to become bound by the provisions of this
Agreement in accordance with Section 9 hereof.

            "Majority Holders" means those persons who hold a majority of the
shares of Series G Preferred Stock and Series H Preferred Stock which are then
outstanding, including such shares originally issued pursuant to the
Subscription Agreement and the Other Subscription Agreement.

            "1934 Act" means the Securities Exchange Act of 1934, as amended.

            "NYSE" means the New York Stock Exchange, Inc.

            "register," "registered," and "registration" refer to a registration
effected by preparing and filing a Registration Statement or Statements in
compliance with the 1933 Act and pursuant to Rule 415 under the 1933 Act or any
successor rule providing for offering securities on a continuous basis ("Rule
415"), and the declaration or ordering of effectiveness of such Registration
Statement by the SEC.

            "Registrable Securities" means the Conversion Shares and the Warrant
Shares.

            "Registration Event" shall mean (1) the Company fails to file the
Registration Statement which is required to be filed by the Company pursuant to
Section 2(a) with the SEC within 45 days after the Closing Date, (2) the
Registration Statement covering the Registrable Securities which is required to
be filed by the Company pursuant to the first sentence of Section 2(a) hereof is
not effective within 120 days after the Closing Date, (3) the Company fails to
submit a request for acceleration of the effective date of the Registration
Statement in accordance with Section 3(a), (4) the Registration Statement
required to be filed by the Company pursuant to Section 2(a) shall cease to be
available for use by any Investor who is named therein as a selling stockholder
for any reason (including, without limitation, by reason of an SEC stop order, a
material misstatement or omission in such Registration Statement or the
information contained in such Registration Statement having become outdated)
other than a Blackout Period, (5) the Common Stock ceases to be listed for
trading on any of the NYSE, the American Stock Exchange, Inc., the Nasdaq
National Market or the Nasdaq SmallCap Market, or (6) a holder of Preferred
Shares having become unable to convert any shares of Series G Preferred Stock or
Series H Preferred Stock in accordance with Section 10(a) of the Certificates of
Designations (other than by reason of the 4.9% limitation on beneficial
ownership set forth therein or a redemption or repurchase thereof).

            "Registration Period" means the period from the Closing Date to the
earliest of (i) the date which is five years after the SEC Effective Date, (ii)
the date on which each Investor may sell all Registrable Securities owned by
such Investor or which such Investor has any right to acquire without
registration under the 1933 Act pursuant to subsection (k) of Rule 144, without
restriction on the manner of sale or the volume of securities which may be sold
in any period and without the requirement for the giving of any notice to, or
the making of any filing with, the SEC and (iii) the date on which the Investors
no longer beneficially own or have any right to acquire any Registrable
Securities.

            "Registration Statement" means a registration statement of the
Company under the 1933 Act, including any amendment thereto.

            "Rule 144" means Rule 144 promulgated under the 1933 Act or any
other similar rule or regulation of the SEC that may at any time permit a holder
of any securities to sell securities of the Company to the public without
registration under the 1933 Act.

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            "SEC" means the Securities and Exchange Commission.

            "SEC Effective Date" means the date the Registration Statement is
declared effective by the SEC.

            "SEC Filing Date" means the date the Registration Statement is first
filed with the SEC pursuant to Section 2(a).

            "Trading Day" means a day on whichever of (x) the national
securities exchange, (y) the Nasdaq or (z) the Nasdaq SmallCap, which at the
time constitutes the principal securities market for the Common Stock, is open
for general trading.

            (b) Capitalized terms defined in the introductory paragraph or the
recitals to this Agreement shall have the respective meanings therein provided.
Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings set forth in the Subscription Agreement.

            2. Registration.

            (a) Mandatory Registration. (1) The Company shall prepare, and on or
prior to the date which is 45 days after the Closing Date, file with the SEC a
Registration Statement on Form S-3 which, on the date of filing with the SEC,
covers the resale by the Initial Investor of a number of shares of Common Stock
at least equal to the sum of (x) a number of shares of Common Stock equal to
205% of the number of shares of Common Stock issuable upon conversion of the
Preferred Shares, determined as if the Preferred Shares, together with 24 months
of accrued and unpaid dividends thereon, were converted in full at the Fixed
Conversion Price (as defined in the Certificates of Designations) on the SEC
Filing Date plus (y) the number of Warrant Shares (in each case determined
without regard to the limitations on beneficial ownership contained in the
proviso to the second sentence of Section 10(a) of the Certificates of
Designations and Section 1.1(b) of the Warrants). If at any time the number of
shares of Common Stock included in the Registration Statement required to be
filed as provided in the first sentence of this Section 2(a) shall be
insufficient to cover 120% of the number of shares of Common Stock issuable on
conversion in full of the unconverted Preferred Shares plus the number of
Warrant Shares issuable upon exercise of the unexercised portion of the
Warrants, then promptly, but in no event later than 20 days after such
insufficiency shall occur, the Company shall file with the SEC an additional
Registration Statement on Form S-3 (which shall not constitute a post-effective
amendment to the Registration Statement filed pursuant to the first sentence of
this Section 2(a)), covering such number of shares of Common Stock as shall be
sufficient to permit such conversion and exercise. For all purposes of this
Agreement such additional Registration Statement shall be deemed to be the
Registration Statement required to be filed by the Company pursuant to Section
2(a) of this Agreement, and the Company and the Investors shall have the same
rights and obligations with respect to such additional Registration Statement as
they shall have with respect to the initial Registration Statement required to
be filed by the Company pursuant to this Section 2(a). The Registration
Statement shall not include securities to be sold for the account of any selling
securityholder other than (i) the Investors and the investors contemplated by
the registration rights agreement entered into by the Company in connection with
the Other Subscription Agreement, (ii) Foothill Capital Corporation with respect
to 325,000 shares of Common Stock issuable upon exercise of outstanding warrants
and (iii) Reedland Capital Partners with respect to 100,000 shares of Common
Stock issuable upon exercise of Warrants issuable in connection with the
transactions contemplated by the Subscription Agreement.

            (2) Prior to the SEC Effective Date or during any time subsequent to
the SEC Effective Date when the Registration Statement for any reason is not
available for use by any Investor for the resale of any of Registrable
Securities, the Company shall not file any other registration statement or any
amendment thereto with the SEC under the 1933 Act or request the acceleration of
the effectiveness of any other registration statement previously filed with the
SEC, other than any registration statement on Form S-4 or Form S-8; provided,
however, that this Section 2(a)(2) shall not apply to a registration statement
filed by the Company after the SEC Filing Date

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with respect to a transaction covered by clause (z) of Section 4(i)(2) of the
Subscription Agreement in which the Company proposes to register at least
$10,000,000 of its equity securities.

            (b) Certain Offerings. If any offering pursuant to a Registration
Statement pursuant to Section 2(a) hereof involves an underwritten offering,
Investors who hold a majority in interest of the Registrable Securities subject
to such underwritten offering shall have the right to select one legal counsel
and an investment banker or bankers and manager or managers to administer the
offering, which investment banker or bankers or manager or managers shall be
reasonably satisfactory to the Company. The Investors who hold the Registrable
Securities to be included in such underwriting shall pay all underwriting
discounts and commissions and other fees and expenses of such investment banker
or bankers and manager or managers so selected in accordance with this Section
2(b) (other than fees and expenses relating to registration of Registrable
Securities under federal or state securities laws, which are payable by the
Company pursuant to Section 5 hereof) with respect to their Registrable
Securities and the fees and expenses of such legal counsel so selected by the
Investors.

            (c) Payments by the Company. If a Registration Event occurs, on each
Computation Date the Company shall pay each Investor an amount in cash equal to
1.5% of the aggregate subscription price paid by such Investor pursuant to the
Subscription Agreement for the Preferred Shares then held by such Investor (pro
rated for any period of less than 30 days). Each such payment shall be made by
wire transfer in immediately available funds on each Computation Date to such
account as shall be specified for such purpose by each Investor. Any such amount
which is not paid when due shall bear interest at the rate of 14% per annum (or
such other rate as shall be the maximum rate allowable by applicable law) until
paid in full.

            (d) Piggy-Back Registrations. If at any time the Company shall
determine to prepare and file with the SEC a Registration Statement relating to
an offering for its own account or the account of others under the 1933 Act of
any of its equity securities, other than on Form S-4 or Form S-8 or their then
equivalents relating to equity securities to be issued solely in connection with
any acquisition of any entity or business or equity securities issuable in
connection with stock option or other employee benefit plans, the Company shall
send to each Investor who is entitled to registration rights under this Section
2(d) written notice of such determination and, if within ten (10) days after
receipt of such notice, such Investor shall so request in writing, the Company
shall include in such Registration Statement all or any part of the Registrable
Securities such Investor requests to be registered, except that if, in
connection with any underwritten public offering for the account of the Company,
the managing underwriter(s) thereof shall impose a limitation on the number of
shares of Common Stock which may be included in the Registration Statement
because, in such underwriter(s)' judgment, such limitation is necessary to
effect an orderly public distribution, then the Company shall be obligated to
include in such Registration Statement only such limited portion of the
Registrable Securities with respect to which such Investor has requested
inclusion hereunder. Any exclusion of Registrable Securities shall be made pro
rata among the Investors seeking to include Registrable Securities, in
proportion to the number of Registrable Securities sought to be included by such
Investors; provided, however, that the Company shall not exclude any Registrable
Securities unless the Company has first excluded all outstanding securities the
holders of which are not entitled by right to inclusion of securities in such
Registration Statement; and provided further, however, that, after giving effect
to the immediately preceding proviso, any exclusion of Registrable Securities
shall be made pro rata with holders of other securities having the right to
include such securities in the Registration Statement, based on the number of
securities for which registration is requested except to the extent such pro
rata exclusion of such other securities is prohibited under any written
agreement entered into by the Company with the holder of such other securities
prior to the date of this Agreement, in which case such other securities shall
be excluded, if at all, in accordance with the terms of such agreement. No right
to registration of Registrable Securities under this Section 2(d) shall be
construed to limit any registration required under Section 2(a) hereof. The
obligations of the Company under this Section 2(d) may be waived by Investors
holding a majority in interest of the Registrable Securities and shall expire
after the Company has afforded the opportunity for the Investors to exercise
registration rights under this Section 2(d) for two registrations; provided,
however, that any Investor who shall have had any Registrable Securities
excluded from any Registration Statement in accordance with this Section 2(d)
shall be entitled to include in an additional Registration Statement filed by
the Company the Registrable Securities so

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excluded. Notwithstanding any other provision of this Agreement, if the
Registration Statement required to be filed pursuant to Section 2(a) of this
Agreement shall have been ordered effective by the SEC and the Company shall
have maintained the effectiveness of such Registration Statement as required by
this Agreement and if the Company shall otherwise have complied in all material
respects with its obligations under this Agreement, then the Company shall not
be obligated to register any Registrable Securities on such Registration
Statement referred to in this Section 2(d).

            (e) Eligibility for Form S-3. The Company meets the requirements for
the use of Form S-3 for registration of the Registrable Securities for resale by
the Investors. The Company shall file all reports required to be filed by the
Company with the SEC in a timely manner so as to maintain such eligibility for
the use of Form S-3.

            3. Obligations of the Company. In connection with the registration
of the Registrable Securities, the Company shall:

            (a) prepare promptly, and file with the SEC not later than 45 days
after the Closing Date, a Registration Statement with respect to the number of
Registrable Securities provided in Section 2(a), and thereafter to use its best
efforts to cause each Registration Statement relating to Registrable Securities
to become effective as soon as possible after such filing, and keep the
Registration Statement effective pursuant to Rule 415 at all times during the
Registration Period; submit to the SEC, within three Business Days after the
Company learns that no review of the Registration Statement will be made by the
staff of the SEC or that the staff of the SEC has no further comments on the
Registration Statement, as the case may be, a request for acceleration of
effectiveness of the Registration Statement to a time and date not later than 48
hours after the submission of such request; notify the Investors of the
effectiveness of the Registration Statement on the date the Registration
Statement is declared effective; and the Company represents and warrants to, and
covenants and agrees with, the Investors that the Registration Statement
(including any amendments or supplements thereto and prospectuses contained
therein), at the time it is first filed with the SEC, at the time it is ordered
effective by the SEC and at all times during which it is required to be
effective hereunder (and each such amendment and supplement at the time it is
filed with the SEC and at all times during which it is available for use in
connection with the offer and sale of the Registrable Securities) shall not
contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein, or necessary to make the statements therein, in
light of the circumstances in which they were made, not misleading;

            (b) prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to the Registration Statement and the
prospectus used in connection with the Registration Statement as may be
necessary to keep the Registration Statement effective at all times during the
Registration Period, and, during the Registration Period, comply with the
provisions of the 1933 Act with respect to the disposition of all Registrable
Securities of the Company covered by the Registration Statement until such time
as all of such Registrable Securities have been disposed of in accordance with
the intended methods of disposition by the seller or sellers thereof as set
forth in the Registration Statement;

            (c) furnish to each Investor whose Registrable Securities are
included in the Registration Statement and its legal counsel, (1) promptly after
the same is prepared and publicly distributed, filed with the SEC or received by
the Company, one copy of the Registration Statement and any amendment thereto,
each preliminary prospectus and prospectus and each amendment or supplement
thereto, each letter written by or on behalf of the Company to the SEC or the
staff of the SEC and each item of correspondence from the SEC or the staff of
the SEC relating to such Registration Statement (other than any portion of any
thereof which contains information for which the Company has sought confidential
treatment) and (2) such number of copies of a prospectus, including a
preliminary prospectus, and all amendments and supplements thereto and such
other documents, as such Investor may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such Investor;

            (d) use reasonable efforts to (i) register and qualify the
Registrable Securities covered by the Registration Statement under such
securities or blue sky laws of such jurisdictions as the Investors who hold a
majority in interest of the Registrable Securities being offered

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reasonably request, (ii) prepare and file in those jurisdictions such amendments
(including post-effective amendments) and supplements to such registrations and
qualifications as may be necessary to maintain the effectiveness thereof at all
times until the end of the Registration Period, (iii) take such other actions as
may be necessary to maintain such registrations and qualifications in effect at
all times during the Registration Period and (iv) take all other actions
reasonably necessary or advisable to qualify the Registrable Securities for sale
in such jurisdictions; provided, however, that the Company shall not be required
in connection therewith or as a condition thereto (I) to qualify to do business
in any jurisdiction where it would not otherwise be required to qualify but for
this Section 3(d), (II) to subject itself to general taxation in any such
jurisdiction, (III) to file a general consent to service of process in any such
jurisdiction, (IV) to provide any undertakings that cause more than nominal
expense or burden to the Company or (V) to make any change in its Certificate of
Incorporation or by-laws, which in each case the Board of Directors of the
Company determines to be contrary to the best interests of the Company and its
stockholders;

            (e) in the event that the Registrable Securities are being offered
in an underwritten offering, enter into and perform its obligations under an
underwriting agreement, in usual and customary form, including, without
limitation, customary indemnification and contribution obligations, with the
underwriters of such offering;

            (f) (1) as promptly as practicable after becoming aware of such
event or circumstance, notify each Investor of any event or circumstance of
which the Company has knowledge, as a result of which the prospectus included in
the Registration Statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading, and use its best efforts promptly to
prepare a supplement or amendment to the Registration Statement to correct such
untrue statement or omission, file such supplement or amendment with the SEC at
such time as shall permit the Investors to sell Registrable Securities pursuant
to the Registration Statement as promptly as practicable, and deliver a number
of copies of such supplement or amendment to each Investor as such Investor may
reasonably request;

            (2) notwithstanding Section 3(f)(1) above, if at any time the
Company notifies the Investors as contemplated by Section 3(f)(1) that the event
giving rise to such notice relates to a development involving the Company which
complies with the description thereof and the requirements therefor set forth in
the definition of Blackout Period, then the Company shall not be required to use
best efforts to make such amendment during a Blackout Period; provided, however,
that (i) no more than the 15 Trading Days in the aggregate may occur during all
Blackout Periods commencing in any period of 365 consecutive days, (ii) no more
than two Blackout Periods may commence in any period of 365 consecutive days and
(iii) at least 30 Trading Days must elapse between the end of a Blackout Period
and the commencement of the next Blackout Period;

            (g) as promptly as practicable after becoming aware of such event,
notify each Investor who holds Registrable Securities being sold (or, in the
event of an underwritten offering, the managing underwriters) of the issuance by
the SEC of any stop order or other suspension of effectiveness of the
Registration Statement at the earliest possible time;

            (h) permit a single firm of counsel designated as selling
stockholders' counsel by the Investors who hold a majority in interest of the
Registrable Securities being sold to review and comment on the Registration
Statement and all amendments and supplements thereto a reasonable period of time
prior to their filing with the SEC;

            (i) make generally available to its security holders as soon as
practical, but not later than ninety (90) days after the close of the period
covered thereby, an earnings statement (in form complying with the provisions of
Rule 158 under the 1933 Act) covering a twelve-month period beginning not later
than the first day of the Company's fiscal quarter next following the effective
date of the Registration Statement;

            (j) in connection with any underwritten offering, at the request of
the Investors who hold a majority in interest of the Registrable Securities
being sold, furnish on the date that

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Registrable Securities are delivered to an underwriter for sale in connection
with the Registration Statement (i) a letter, dated such date, from the
Company's independent certified public accountants in form and substance as is
customarily given by independent certified public accountants to underwriters in
an underwritten public offering, addressed to the underwriters; and (ii) an
opinion, dated such date, from counsel representing the Company for purposes of
such Registration Statement, in form and substance as is customarily given in an
underwritten public offering, addressed to the underwriter(s) and the Investors;

            (k) make available for inspection by any Investor, any underwriter
participating in any disposition pursuant to the Registration Statement, and any
attorney, accountant or other agent retained by any such Investor or underwriter
(collectively, the "Inspectors"), all pertinent financial and other records,
pertinent corporate documents and properties of the Company (collectively, the
"Records"), as shall be reasonably necessary to enable each Investor to exercise
its due diligence responsibility, and cause the Company's officers, directors
and employees to supply all information which any Inspector may reasonably
request for purposes of such due diligence; provided, however, that each
Inspector shall hold in confidence and shall not make any disclosure (except to
an Investor) of any Record or other information which the Company determines in
good faith to be confidential, and of which determination the Inspectors are so
notified, unless (i) the disclosure of such Records is necessary to avoid or
correct a misstatement or omission in any Registration Statement, (ii) the
release of such Records is ordered pursuant to a subpoena or other order from a
court or government body of competent jurisdiction or (iii) the information in
such Records has been made generally available to the public other than by
disclosure in violation of this or any other agreement. The Company shall not be
required to disclose any confidential information in such Records to any
Inspector until and unless such Inspector shall have entered into
confidentiality agreements (in form and substance satisfactory to the Company)
with the Company with respect thereto, substantially in the form of this Section
3(k). Each Investor agrees that it shall, upon learning that disclosure of such
Records is sought in or by a court or governmental body of competent
jurisdiction or through other means, give prompt notice to the Company and allow
the Company, at the Company's own expense, to undertake appropriate action to
prevent disclosure of, or to obtain a protective order for, the Records deemed
confidential. The Company shall hold in confidence and shall not make any
disclosure of information concerning an Investor provided to the Company
pursuant to Section 4(e) hereof unless (i) disclosure of such information is
necessary to comply with federal or state securities laws, (ii) the disclosure
of such information is necessary to avoid or correct a misstatement or omission
in any Registration Statement, (iii) the release of such information is ordered
pursuant to a subpoena or other order from a court or governmental body of
competent jurisdiction or (iv) such information has been made generally
available to the public other than by disclosure in violation of this or any
other agreement. The Company agrees that it shall, upon learning that disclosure
of such information concerning an Investor is sought in or by a court or
governmental body of competent jurisdiction or through other means, give prompt
notice to such Investor and allow such Investor, at such Investor's own expense,
to undertake appropriate action to prevent disclosure of, or to obtain a
protective order for, such information;

            (l) use its best efforts (i) to cause all the Registrable Securities
covered by the Registration Statement to be listed on the NYSE or such other
principal securities market on which securities of the same class or series
issued by the Company are then listed or traded or (ii) if securities of the
same class or series as the Registrable Securities are not then listed on the
NYSE or any such other securities market, to cause all of the Registrable
Securities covered by the Registration Statement to be listed on the American
Stock Exchange, the Nasdaq National Market or the Nasdaq SmallCap Market;

            (m) provide a transfer agent and registrar, which may be a single
entity, for the Registrable Securities not later than the effective date of the
Registration Statement;

            (n) cooperate with the Investors who hold Registrable Securities
being offered and the managing underwriter or underwriters, if any, to
facilitate the timely preparation and delivery of certificates (not bearing any
restrictive legends) representing Registrable Securities to be offered pursuant
to the Registration Statement and enable such certificates to be in such
denominations or amounts, as the case may be, as the managing underwriter

                                      -7-
<PAGE>

or underwriters, if any, or the Investors may reasonably request and registered
in such names as the managing underwriter or underwriters, if any, or the
Investors may request; and, within three Business Days after a Registration
Statement which includes Registrable Securities is ordered effective by the SEC,
the Company shall deliver to the transfer agent for the Registrable Securities
(with copies to the Investors whose Registrable Securities are included in such
Registration Statement) an instruction substantially in the form attached hereto
as Exhibit 1 and shall cause legal counsel selected by the Company to deliver to
the Investors an opinion of such counsel in the form attached hereto as Exhibit
2 (with a copy to the Company's transfer agent);

            (o) during the period the Company is required to maintain
effectiveness of the Registration Statement pursuant to Section 3(a), the
Company shall not bid for or purchase any Common Stock or any right to purchase
Common Stock or attempt to induce any person to purchase any such security or
right if such bid, purchase or attempt would in any way limit the right of the
Investors to sell Registrable Securities by reason of the limitations set forth
in Regulation M under the 1934 Act; and

            (p) take all other reasonable actions necessary to expedite and
facilitate disposition by the Investors of the Registrable Securities pursuant
to the Registration Statement.

            4. Obligations of the Investors. In connection with the registration
of the Registrable Securities, the Investors shall have the following
obligations:

            (a) It shall be a condition precedent to the obligations of the
Company to complete the registration pursuant to this Agreement with respect to
the Registrable Securities of a particular Investor that such Investor shall
furnish to the Company such information regarding itself, the Registrable
Securities held by it and the intended method of disposition of the Registrable
Securities held by it as shall be reasonably required to effect the registration
of such Registrable Securities and shall execute such documents in connection
with such registration as the Company may reasonably request. At least five
Business Days prior to the first anticipated filing date of the Registration
Statement, the Company shall notify each Investor of the information the Company
requires from each such Investor (the "Requested Information") if any of such
Investor's Registrable Securities are eligible for inclusion in the Registration
Statement. If at least one Business Day prior to the filing date the Company has
not received the Requested Information from an Investor (a "Non-Responsive
Investor"), then the Company may file the Registration Statement without
including Registrable Securities of such Non-Responsive Investor but shall not
be relieved of its obligation to file a Registration Statement with the SEC
relating to the Registrable Securities of such Non-Responsive Investor promptly
after such Non-Responsive Investor provides the Requested Information;

            (b) Each Investor by such Investor's acceptance of the Registrable
Securities agrees to cooperate with the Company as reasonably requested by the
Company in connection with the preparation and filing of the Registration
Statement hereunder, unless such Investor has notified the Company in writing of
such Investor's election to exclude all of such Investor's Registrable
Securities from the Registration Statement;

            (c) In the event Investors holding a majority in interest of the
Registrable Securities being registered determine to engage the services of an
underwriter, each Investor agrees to enter into and perform such Investor's
obligations under an underwriting agreement, in usual and customary form,
including, without limitation, customary indemnification and contribution
obligations, with the managing underwriter of such offering and take such other
actions as are reasonably required in order to expedite or facilitate the
disposition of the Registrable Securities, unless such Investor has notified the
Company in writing of such Investor's election to exclude all of such Investor's
Registrable Securities from the Registration Statement;

            (d) Each Investor agrees that, upon receipt of any notice from the
Company of the happening of any event of the kind described in Section 3(f) or
3(g), such Investor will immediately discontinue disposition of Registrable
Securities pursuant to the Registration Statement covering such Registrable
Securities until such Investor's receipt of the copies of the supplemented or
amended prospectus contemplated by Section 3(f) or 3(g) and, if so directed by
the Company, such Investor shall deliver to the Company (at the expense of the
Company) or destroy (and deliver

                                      -8-
<PAGE>

to the Company a certificate of destruction) all copies in such Investor's
possession of the prospectus covering such Registrable Securities current at the
time of receipt of such notice;

            (e) No Investor may participate in any underwritten registration
hereunder unless such Investor (i) agrees to sell such Investor's Registrable
Securities on the basis provided in any underwriting arrangements approved by
the Investors entitled hereunder to approve such arrangements, (ii) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements and (iii) agrees to pay its pro rata share of all
underwriting discounts and commissions and other fees and expenses of investment
bankers and any manager or managers of such underwriting and legal expenses of
the underwriters applicable with respect to its Registrable Securities, in each
case to the extent not payable by the Company pursuant to the terms of this
Agreement; and

            (f) Each Investor agrees to take all reasonable actions necessary to
comply with the prospectus delivery requirements of the 1933 Act applicable to
its sales of Registrable Securities.

            5. Expenses of Registration. All reasonable expenses, other than
underwriting discounts and commissions and other fees and expenses of investment
bankers and other than brokerage commissions, incurred in connection with
registrations, filings or qualifications pursuant to Sections 2 and 3,
including, without limitation, all registration, listing and qualifications
fees, printers and accounting fees and the fees and disbursements of counsel for
the Company and the Investors (in addition to the payment of the Initial
Investor's expenses to the extent provided in the Subscription Agreement), shall
be borne by the Company; provided, however, that (i) the Company shall not be
required to pay in excess of $7,500 for such fees and disbursements of counsel
for the Investors and (ii) the Investors shall bear the fees and out-of-pocket
expenses of the one legal counsel selected by the Investors pursuant to Section
2(b) hereof. At the request of the Company, the Investors shall provide the
Company with copies of invoices or other reasonable supporting documentation for
the fees and disbursements of Investors' counsel required to be paid by the
Company pursuant to this Section 5.

            6. Indemnification. In the event any Registrable Securities are
included in a Registration Statement under this Agreement:

            (a) To the extent permitted by law, the Company will indemnify and
hold harmless each Investor who holds such Registrable Securities, the
directors, if any, of such Investor, the officers, if any, of such Investor,
each person, if any, who controls any Investor within the meaning of the 1933
Act or the 1934 Act, any underwriter (as defined in the 1933 Act) for the
Investors, the directors, if any, of such underwriter and the officers, if any,
of such underwriter, and each person, if any, who controls any such underwriter
within the meaning of the 1933 Act or the 1934 Act (each, an "Indemnified
Person"), against any losses, claims, damages, liabilities or expenses (joint or
several) incurred (collectively, "Claims") to which any of them may become
subject under the 1933 Act, the 1934 Act or otherwise, insofar as such Claims
(or actions or proceedings, whether commenced or threatened, in respect thereof)
arise out of or are based upon any of the following: (i) any untrue statement or
alleged untrue statement of a material fact contained in the Registration
Statement or any post-effective amendment thereof or the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) any untrue
statement or alleged untrue statement of a material fact contained in any
preliminary prospectus if used prior to the effective date of such Registration
Statement, or contained in the final prospectus (as amended or supplemented, if
the Company files any amendment thereof or supplement thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to
make the statements made therein, in light of the circumstances under which the
statements therein were made, not misleading or (iii) any violation or alleged
violation by the Company of the 1933 Act, the 1934 Act, any state securities law
or any rule or regulation under the 1933 Act, the 1934 Act or any state
securities law (the matters in the foregoing clauses (i) through (iii) being,
collectively, "Violations"). Subject to the restrictions set forth in Section
6(d) with respect to the number of legal counsel, the Company shall reimburse
the Investors and the other Indemnified Persons, promptly as such expenses are
incurred and are due and payable, for any legal fees or other reasonable
expenses incurred by them in

                                      -9-
<PAGE>

connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement
contained in this Section 6(a): (I) shall not apply to a Claim arising out of or
based upon a Violation which occurs in reliance upon and in conformity with
information furnished in writing to the Company by any Indemnified Person or
underwriter for such Indemnified Person expressly for use in connection with the
preparation of the Registration Statement, the prospectus or any such amendment
thereof or supplement thereto, if such prospectus was timely made available by
the Company pursuant to Section 3(c) hereof; (II) with respect to any
preliminary prospectus shall not inure to the benefit of any such person from
whom the person asserting any such Claim purchased the Registrable Securities
that are the subject thereof (or to the benefit of any person controlling such
person) if the untrue statement or omission of material fact contained in the
preliminary prospectus was corrected in the prospectus, as then amended or
supplemented, if such prospectus was timely made available by the Company
pursuant to Section 3(c) hereof; and (III) shall not apply to amounts paid in
settlement of any Claim if such settlement is effected without the prior written
consent of the Company, which consent shall not be unreasonably withheld. Such
indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the Indemnified Person and shall survive the transfer of
the Registrable Securities by the Investors pursuant to Section 9.

            (b) In connection with any Registration Statement in which an
Investor is participating, each such Investor agrees to indemnify and hold
harmless, to the same extent and in the same manner set forth in Section 6(a),
the Company, each of its directors, each of its officers who signs the
Registration Statement, each person, if any, who controls the Company within the
meaning of the 1933 Act or the 1934 Act, any underwriter and any other
stockholder selling securities pursuant to the Registration Statement or any of
its directors or officers or any person who controls such stockholder or
underwriter within the meaning of the 1933 Act or the 1934 Act (collectively and
together with an Indemnified Person, an "Indemnified Party"), against any Claim
to which any of them may become subject, under the 1933 Act, the 1934 Act or
otherwise, insofar as such Claim arises out of or is based upon any Violation,
in each case to the extent (and only to the extent) that such Violation occurs
in reliance upon and in conformity with written information furnished to the
Company by such Investor expressly for use in connection with such Registration
Statement; and such Investor will reimburse any legal or other expenses
reasonably incurred by any Indemnified Party in connection with investigating or
defending any such Claim; provided, however, that the indemnity agreement
contained in this Section 6(b) shall not apply to amounts paid in settlement of
any Claim if such settlement is effected without the prior written consent of
such Investor, which consent shall not be unreasonably withheld; provided,
further, however, that the Investor shall be liable under this Section 6(b) for
only that amount of a Claim as does not exceed the amount by which the net
proceeds to such Investor from the sale of Registrable Securities pursuant to
such Registration Statement exceeds the cost of such Registrable Securities to
such Investor. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of such Indemnified Party and shall
survive the transfer of the Registrable Securities by the Investors pursuant to
Section 9. Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(b) with respect to any
preliminary prospectus shall not inure to the benefit of any Indemnified Party
if the untrue statement or omission of material fact contained in the
preliminary prospectus was corrected on a timely basis in the prospectus, as
then amended or supplemented.

            (c) The Company shall be entitled to receive indemnities from
underwriters, selling brokers, dealer managers and similar securities industry
professionals participating in any distribution, to the same extent as provided
above, with respect to information so furnished in writing by such persons
expressly for inclusion in the Registration Statement.

            (d) Promptly after receipt by an Indemnified Person or Indemnified
Party under this Section 6 of notice of the commencement of any action
(including any governmental action), such Indemnified Person or Indemnified
Party shall, if a Claim in respect thereof is to be made against any
indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof and the indemnifying party shall have
the right to participate in, and, to the extent the indemnifying party so
desires, jointly with any other indemnifying party similarly noticed, to assume
control of the defense thereof with counsel selected by the indemnifying party
but reasonably acceptable to the Indemnified Person or the Indemnified Party, as
the case may

                                      -10-
<PAGE>

be; provided, however, that an Indemnified Person or Indemnified Party shall
have the right to retain its own counsel with the fees and expenses to be paid
by the indemnifying party, if, in the reasonable opinion of counsel retained by
the indemnifying party, the representation by such counsel of the Indemnified
Person or Indemnified Party and the indemnifying party would be inappropriate
due to actual or potential differing interests between such Indemnified Person
or Indemnified Party and any other party represented by such counsel in such
proceeding. In such event, the Company shall pay for only one separate legal
counsel for the Investors; such legal counsel shall be selected by the Investors
holding a majority in interest of the Registrable Securities included in the
Registration Statement to which the Claim relates. The failure to deliver
written notice to the indemnifying party within a reasonable time of the
commencement of any such action shall not relieve such indemnifying party of any
liability to the Indemnified Person or Indemnified Party under this Section 6,
except to the extent that the indemnifying party is prejudiced in its ability to
defend such action. The indemnification required by this Section 6 shall be made
by periodic payments of the amount thereof during the course of the
investigation or defense, as such expense, loss, damage or liability is incurred
and is due and payable.

            7. Contribution. To the extent any indemnification by an
indemnifying party is prohibited or limited by law, the indemnifying party
agrees to make the maximum contribution with respect to any amounts for which it
would otherwise be liable under Section 6 to the fullest extent permitted by
law; provided, however, that (a) no contribution shall be made under
circumstances where the maker would not have been liable for indemnification
under the fault standards set forth in Section 6, (b) no seller of Registrable
Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the 1933 Act) shall be entitled to contribution from any seller of
Registrable Securities who was not guilty of such fraudulent misrepresentation
and (c) contribution by any seller of Registrable Securities shall be limited in
amount to the amount by which the net amount of proceeds received by such seller
from the sale of such Registrable Securities exceeds the purchase price paid by
such seller for such Registrable Securities.

            8. Reports under 1934 Act. With a view to making available to the
Investors the benefits of Rule 144, the Company agrees to:

            (a) make and keep public information available, as those terms are
understood and defined in Rule 144;

            (b) file with the SEC in a timely manner all reports and other
documents required of the Company under the 1933 Act and the 1934 Act; and

            (c) furnish to each Investor so long as such Investor owns
Registrable Securities, promptly upon request, (i) a written statement by the
Company that it has complied with the reporting requirements of Rule 144 and the
1934 Act, (ii) a copy of the most recent annual or quarterly report of the
Company and such other reports and documents so filed by the Company and (iii)
such other information as may be reasonably requested to permit the Investors to
sell such securities pursuant to Rule 144 without registration.

            9. Assignment of the Registration Rights. The rights to have the
Company register Registrable Securities pursuant to this Agreement shall be
automatically assigned by the Investors to any transferee of all or any portion
of such securities (or to any transferee of all or any portion of the Preferred
Shares or the Warrants which transfer is permitted by Section 4(a) of the
Subscription Agreement) only if: (a) such transferee or assignee is an
"accredited investor" as defined in Regulation D under the 1933 Act, (b) the
Investor agrees in writing with the transferee or assignee to assign such
rights, and a copy of such agreement is furnished to the Company within a
reasonable time after such assignment, (c) the Company is, within a reasonable
time after such transfer or assignment, furnished with written notice of (i) the
name and address of such transferee or assignee and (ii) the securities with
respect to which such registration rights are being transferred or assigned, (d)
immediately following such transfer or assignment the further disposition of
such securities by the transferee or assignee is restricted under the 1933 Act
and applicable state securities laws, and (e) at or before the time the Company
receives the written notice contemplated by clause (c) of this sentence the
transferee or assignee agrees in writing with the Company to be bound by

                                      -11-
<PAGE>

all of the provisions contained herein. In connection with any such transfer the
Company shall, at its sole cost and expense, promptly after such assignment take
such actions as shall be reasonably acceptable to the Initial Investor and such
transferee to assure that the Registration Statement and related prospectus are
available for use by such transferee for sales of the Registrable Securities in
respect of which the rights to registration have been so assigned. In connection
with any such assignment, each Investor shall have the right to assign to such
transferee such Investor's rights under the Subscription Agreement by notice of
such assignment to the Company. Following such notice of assignment of rights
under the Subscription Agreement, the Company shall be obligated to such
transferee to perform all of its covenants under the Subscription Agreement as
if such transferee were the Buyer under the Subscription Agreement.

            10. Amendment of Registration Rights. Any provision of this
Agreement may be amended and the observance thereof may be waived (either
generally or in a particular instance and either retroactively or
prospectively), only with the written consent of the Majority Holders. Any
amendment or waiver effected in accordance with this Section 10 shall be binding
upon each Investor and the Company.

            11. Miscellaneous.

            (a) A person or entity is deemed to be a holder of Registrable
Securities whenever such person or entity owns of record such Registrable
Securities. If the Company receives conflicting instructions, notices or
elections from two or more persons or entities with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such Registrable
Securities.

            (b) Notices required or permitted to be given hereunder shall be in
writing and shall be deemed to be sufficiently given when personally delivered
(by hand, by courier, by telephone line facsimile transmission (with answer back
confirmation) or other means) (i) if to the Company, at 15821 Ventura Boulevard,
5th Floor, Los Angeles, California 91436, Attention: Chief Financial Officer,
telephone line facsimile transmission number (818) 461-6530, with a copy to
Klehr, Harrison, Harvey, Branzburg & Ellers LLP, 260 South Broad Street,
Philadelphia 19102-5003, Attention: Stephen T. Burdumy, Esq. and William W.
Matthews, III, Esq., telephone line facsimile transmission number (215)
568-6603, (ii) if to the Initial Investor, c/o Genesee International, Inc.,
10500 N.E. 8th Street, Suite 1920, Bellevue, Washington 98004-4332, telephone
line facsimile transmission number (425) 462-4645 and (iii) if to any other
Investor, at such address as such Investor shall have provided in writing to the
Company, or at such other address as each such party furnishes by notice given
in accordance with this Section 11(b), and shall be effective upon receipt.

            (c) Failure of any party to exercise any right or remedy under this
Agreement or otherwise, or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

            (d) This Agreement shall be enforced, governed by and construed in
accordance with the laws of the State of Delaware applicable to agreements made
and to be performed entirely within such State. In the event that any provision
of this Agreement is invalid or unenforceable under any applicable statute or
rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such
statute or rule of law. Any provision hereof which may prove invalid or
unenforceable under any law shall not affect the validity or enforceability of
any other provision hereof.

            (e) This Agreement constitutes the entire agreement among the
parties hereto with respect to the subject matter hereof. There are no
restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein. This Agreement supersedes all prior agreements and
understandings among the parties hereto with respect to the subject matter
hereof.

            (f) Subject to the requirements of Section 9 hereof, this Agreement
shall inure to the benefit of and be binding upon the successors and assigns of
each of the parties hereto.

                                      -12-
<PAGE>

            (g) All pronouns and any variations thereof refer to the masculine,
feminine or neuter, singular or plural, as the context may require.

            (h) The headings in this Agreement are for convenience of reference
only and shall not limit or otherwise affect the meaning hereof.

            (i) The Company acknowledges that any failure by the Company to
perform its obligations under this Agreement, including, without limitation, the
Company's obligations under Section 3(n), or any delay in such performance could
result in damages to the Investors and the Company agrees that, in addition to
any other liability the Company may have by reason of any such failure or delay,
the Company shall be liable for all direct and consequential damages caused by
any such failure or delay.

            (j) Each party shall do and perform, or cause to be done and
performed, all such further acts and things, and shall execute and deliver all
such other agreements, certificates, instruments and documents, as the other
party may reasonably request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated
hereby.

            (k) The language used in this Agreement will be deemed to be the
language chosen by the parties to express their mutual intent, and no rules of
strict construction will be applied against any party.

            (l) This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original but all of which shall constitute one and
the same agreement. This Agreement, once executed by a party, may be delivered
to the other party hereto by telephone line facsimile transmission of a copy of
this Agreement bearing the signature of the party so delivering this Agreement.

            IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed by their respective officers thereunto duly authorized as of day
and year first above written.

                                       e4L, INC.

                                       By:______________________________________
                                                    Daniel M. Yukelson
                                                 Executive Vice President

                                       [INITIAL INVESTOR]

                                       By:______________________________________
                                          Name:
                                          Title:

                                      -13-
<PAGE>

                                                                   EXHIBIT 1
                                                                       to
                                                                  Registration
                                                                Rights Agreement

                              [Company Letterhead]

                                     [Date]

______________________________________
as Conversion Agent and Exercise Agent
[Address]

Ladies and Gentlemen:

      This letter shall serve as our irrevocable authorization and direction to
you [(1) to transfer or re-register the certificates for the shares of Common
Stock, $.01 par value (the "Common Stock"), of e4L, Inc., a Delaware corporation
(the "Company"), represented by certificate numbers _______ and _______ for an
aggregate of _______ shares (the "Outstanding Shares") of Common Stock presently
registered in the name of [Name of Investors] upon surrender of such
certificate(s) to you, notwithstanding the legend appearing on such
certificates, and (2)]? to issue (a) shares (the "Conversion Shares") of Common
Stock to or upon the order of the holder from time to time on conversion of the
shares (the "Preferred Shares") of Series G Convertible Preferred Stock, $.01
par value, and Series H Convertible Preferred Stock, $.01 par value, of the
Company upon receipt by you of a Notice of Conversion of Series G Convertible
Preferred Stock or a Notice of Conversion of Series H Convertible Preferred
Stock, as the case may be, in the forms enclosed herewith, and (b) shares (the
"Warrant Shares") of Common Stock to or upon the order of the holder from time
to time on exercise of the Common Stock Purchase Warrants (the "Warrants")
exercisable for Common Stock issued by the Company upon receipt by you of a
Subscription Form from such holder in the form enclosed herewith. [The transfer
or re-registration of the certificates for the Outstanding Shares by you should
be made at such time as you are requested to do so by the record holder of the
Outstanding Shares. The certificate issued upon such transfer or re-registration
should be registered in such name as requested by the holder of record of the
certificate surrendered to you and should not bear any legend which would
restrict the transfer of the shares represented thereby. In addition, you are
hereby directed to remove any stop-transfer instruction relating to the
Outstanding Shares.]*. Certificates for the Conversion Shares and Warrant Shares
should not bear any restrictive legend and should not be subject to any
stop-transfer restriction.

      Contemporaneously with the delivery of this letter, the Company is
delivering to you an opinion of Klehr, Harrison, Harvey, Branzburg & Ellers LLP
as to registration of the resale of [the Outstanding Shares and]* the Conversion
Shares and Warrant Shares under the Securities Act of 1933, as amended.

--------
*     Omit if no conversions of Preferred Stock or exercises of Warrants have
      occurred before SEC registration is declared effective.

<PAGE>

      Should you have any questions concerning this matter, please contact me.

                                       Very truly yours,

                                       e4L, INC.

                                       By: _____________________________________
                                             Name:
                                             Title:

Enclosures
cc: [Names of Investors]

<PAGE>

                                                                    EXHIBIT 2
                                                                       to
                                                                  Registration
                                                                Rights Agreement

                              [SEC Effective Date]

[Names and Addresses of Investors]

                                    e4L, INC.
                             Shares of Common Stock

Ladies and Gentlemen:

            We are counsel to e4L, Inc., a Delaware corporation (the "Company"),
and we understand that the Company has sold to [Names of Investors] (the
"Holders") an aggregate of 5,000 shares (the "Series G Preferred Shares") of the
Company's Series G Convertible Preferred Stock, $.01 par value (the "Series G
Preferred Stock"), 5,000 shares (the "Series H Preferred Shares) of the
Company's Series H Convertible Preferred Stock, $.01 par value (the "Series H
Preferred Stock"), and issued to the Holders Common Stock Purchase Warrants (the
"Warrants"). The Series G Preferred Shares and the Series H Preferred Shares
were sold, and the Warrants were issued, to the Holders pursuant to several
Subscription Agreements, dated as of March 21, 2000, by and between the Holders
and the Company (the "Subscription Agreements"). Pursuant to the several
Registration Rights Agreements, dated as of March 21, 2000, by and between the
Company and each Holder (the "Registration Rights Agreements") entered into in
connection with the purchase by the Holders of the Series G Preferred Shares and
the Series H Preferred Shares, the Company agreed with each Holder, among other
things, to register for resale (1) the shares (the "Conversion Shares") of
Common Stock issuable upon conversion of the Series G Preferred Shares and the
Series H Preferred Shares and (2) the shares (the "Warrant Shares") of Common
Stock issuable upon exercise of the Warrants under the Securities Act of 1933,
as amended (the "1933 Act"), upon the terms provided in the Registration Rights
Agreements. The Conversion Shares and the Warrant Shares are referred to herein
collectively as the "Shares". Pursuant to the Registration Rights Agreements, on
[INSERT SEC FILING DATE] the Company filed a Registration Statement on Form S-3
(File No. 333-__________) (the "Registration Statement") with the Securities and
Exchange Commission (the "SEC") relating to the Shares, which names the Holders
as selling stockholders thereunder.

            [Other introductory and scope of examination language to be
inserted]

            Based on the foregoing, we are of the opinion that:

            (1) Since the Closing Date, the Company has timely filed with the
      SEC all forms, reports and other documents required to be filed with the
      SEC under the Securities Exchange Act of 1934, as amended (the "1934
      Act"). To the best of our knowledge, all of such forms, reports and other
      documents complied, when filed, in all material respects, with all
      applicable requirements of the 1933 Act and the 1934 Act;

            (2) The Registration Statement and the Prospectus contained therein
      (other than the financial statements and financial schedules and other
      financial and statistical information contained or incorporated by
      reference therein, as to which we have not been requested to and do not
      express any opinion) comply as to form in all material respects with the
      applicable requirements of the 1933 Act and the rules and regulations
      promulgated thereunder; and

<PAGE>

            (3) The Registration Statement has become effective under the 1933
      Act, to the best of our knowledge after due inquiry, no stop order
      proceedings with respect thereto have been instituted or threatened by the
      SEC. The Shares have been registered under the 1933 Act and may be resold
      by the respective Holders pursuant to the Registration Statement.

            Paragraph (3) of this opinion may be relied upon by ChaseMellon
Shareholder Services, L.L.C., as Conversion Agent and Exercise Agent (the
"Conversion Agent"), as if addressed to the Conversion Agent.

                                       Very truly yours,

cc: ChaseMellon Shareholder Services, L.L.C.,
      as Conversion Agent and Exercise Agent<PAGE>

                                                                   EXHIBIT 10.03

                                CERIDIAN CORPORATION

                           EXECUTIVE EMPLOYMENT AGREEMENT

PARTIES

                   CERIDIAN CORPORATION (A DELAWARE CORPORATION)
                               8100 34TH AVENUE SOUTH
                         MINNEAPOLIS, MINNESOTA 55425-1640

                                        AND

                                  RONALD L. TURNER
                                   ("EXECUTIVE")

DATE:     OCTOBER 1, 1999

RECITALS

A.     Ceridian wishes to obtain the services of Executive for the duration of
       this Agreement, and Executive wishes to provide his or her services for
       such period.

B.     Ceridian desires reasonable protection of Ceridian's Confidential
       Information (as defined below).

C.     Ceridian desires assurance that Executive will not compete with Ceridian,
       engage in recruitment of Ceridian's employees or make disparaging
       statements about Ceridian after termination of employment, and Executive
       is willing to refrain from such competition, recruitment and
       disparagement.

D.     Executive desires to be assured of a minimum Base Salary (as defined
       below) from Ceridian for Executive's services for the term of this
       Agreement (unless terminated earlier pursuant to the terms of this
       Agreement).

E.     It is expressly recognized by the parties that Executive's acceptance of,
       and continuance in, Executive's position with Ceridian and agreement to
       be bound by the terms of this Agreement represents a substantial
       commitment to Ceridian in terms of Executive's personal and professional
       career and a foregoing of present and future career options by Executive,
       for all of which Ceridian receives substantial value.

F.     The parties recognize that a Change of Control (as defined below) may
       result in material alteration or diminishment of Executive's position and
       responsibilities and substantially

                                       1

<PAGE>

       frustrate the purpose of Executive's commitment to Ceridian and
       forebearance of career options.

G.     The parties recognize that in light of the above-described commitment and
       forebearance of career options, it is essential that, for the benefit of
       Ceridian and its stockholders, provision be made for a Change of Control
       Termination (as defined below) in order to enable Executive to accept and
       effectively continue in Executive's position in the face of inherently
       disruptive circumstances arising from the possibility of a Change of
       Control of the Parent Corporation (as defined below), although no such
       change is now contemplated or foreseen.

H.     The parties wish to replace any and all prior agreements and undertakings
       with respect to Executive's employment and Change of Control occurrences
       and compensation.

NOW, THEREFORE, in consideration of Executive's acceptance of and continuance in
Executive's employment for the term of this Agreement and the parties' agreement
to be bound by the terms contained herein, the parties agree as follows:

                                     ARTICLE I

                                    DEFINITIONS

1.01   "BASE SALARY" shall mean regular cash compensation paid on a periodic
       basis exclusive of benefits, bonuses or incentive payments.

1.02   "BOARD" shall mean the Board of Directors of Parent Corporation.

1.03   "CERIDIAN" shall mean Ceridian Corporation and, except as otherwise
       provided in Article VIII and Section 9.02 of Article IX,

       (a)    any Subsidiary (as that term is defined in Section 1.07); and

       (b)    any successor in interest by way of consolidation, operation of
              law, merger or otherwise.

1.04   "CONFIDENTIAL INFORMATION" shall mean information or material of Ceridian
       which is not generally available to or used by others, or the utility or
       value of which is not generally known or recognized as standard practice,
       whether or not the underlying details are in the public domain,
       including:

       (a)    information or material relating to Ceridian and its business as
              conducted or anticipated to be conducted; business plans;
              operations; past, current or anticipated software, products or
              services; customers or prospective customers; or

                                       2

<PAGE>

              research, engineering, development, manufacturing, purchasing,
              accounting, or marketing activities;

       (b)    information or material relating to Ceridian's inventions,
              improvements, discoveries, "know-how," technological developments,
              or unpublished writings or other works of authorship, or to the
              materials, apparatus, processes, formulae, plans or methods used
              in the development, manufacture or marketing of Ceridian's
              software, products or services;

       (c)    information on or material relating to Ceridian which when
              received is marked as "proprietary," "private," or "confidential;"

       (d)    trade secrets of Ceridian;

       (e)    software of Ceridian in various stages of development, including
              computer programs in source code and binary code form, software
              designs, specifications, programming aids (including "library
              subroutines" and productivity tools), programming languages,
              interfaces, visual displays, technical documentation, user
              manuals, data files and databases of Ceridian; and

       (f)    any similar information of the type described above which Ceridian
              obtained from another party and which Ceridian treats as or
              designates as being proprietary, private or confidential, whether
              or not owned or developed by Ceridian.

       Notwithstanding the foregoing, "Confidential Information" does not
       include any information which is properly published or in the public
       domain; provided, however, that information which is published by or with
       the aid of Executive outside the scope of employment or contrary to the
       requirements of this Agreement will not be considered to have been
       properly published, and therefore will not be in the public domain for
       purposes of this Agreement.

1.05   "DISABILITY" shall mean the inability of Executive to perform his or her
       duties under this Agreement because of illness or incapacity for a
       continuous period of six months.

1.06   "PARENT CORPORATION" shall mean Ceridian Corporation and, except as
       otherwise provided in Article VIII and Section 9.02 of Article IX, any
       successor in interest by way of consolidation, operation of law, merger
       or otherwise.  "Parent Corporation" shall not include any Subsidiary.

1.07   "SUBSIDIARY" shall mean:  (a) any corporation at least a majority of
       whose securities having ordinary voting power for the election of
       directors (other than securities having such power only by reason of the
       occurrence of a contingency) is at the time owned by Parent Corporation
       and/or one or more Subsidiaries; and (b) any division or business unit
       (or portion thereof) of Parent Corporation or a corporation described in
       clause (a) of this Section 1.07.

                                       3

<PAGE>

                                     ARTICLE II

                            EMPLOYMENT, DUTIES AND TERM

2.01   EMPLOYMENT.  Upon the terms and conditions set forth in this Agreement,
       Ceridian hereby employs Executive, and Executive accepts such employment.

2.02   DUTIES.  Executive shall devote his or her full-time and best efforts to
       Ceridian and to fulfilling the duties of his or her position which shall
       include such duties as may from time to time be assigned him or her by
       Ceridian, provided that such duties are reasonably consistent with
       Executive's education, experience and background.  Executive shall comply
       with Ceridian's policies and procedures to the extent they are not
       inconsistent with this Agreement in which case the provisions of this
       Agreement prevail.

2.03   TERM.  Subject to the provisions of Articles IV, VII, and VIII, this
       Agreement and Executive's employment shall continue until the later of:
       (a) OCTOBER 1, 2002; and (b) two years after a Change of Control which
       occurs prior to OCTOBER 1, 2002 ("Initial Term").  Upon expiration of the
       Initial Term and subject to the provisions of Articles IV, VII and VIII,
       this Agreement and Executive's employment shall be automatically extended
       for successive three year periods.

                                    ARTICLE III

                             COMPENSATION AND EXPENSES

3.01   BASE SALARY.  For all services rendered under this Agreement during the
       term of this Agreement, Ceridian shall pay Executive a minimum Base
       Salary at the annual rate currently being paid or, if Executive is not
       currently in Ceridian's employ, at the annual rate specified in the
       written offer of employment.  If Executive's salary is increased from
       time to time during the term of this Agreement, the increased amount
       shall be the Base Salary for the remainder of the term.

3.02   BONUS AND INCENTIVE.  Bonus or incentive compensation shall be at the
       sole discretion of Ceridian.  Except as otherwise provided in Article
       VII, Ceridian shall have the right, in accordance with their terms, to
       alter, amend or eliminate any bonus or incentive plans, or Executive's
       participation therein, without compensation to Executive.

3.03   BUSINESS EXPENSES.  Ceridian shall, consistent with its policies in
       effect from time to time, bear all ordinary and necessary business
       expenses incurred by Executive in performing his or her duties as an
       employee of Ceridian, provided that Executive accounts promptly for such
       expenses to Ceridian in the manner prescribed from time to time by
       Ceridian.

                                      4

<PAGE>

                                     ARTICLE IV

                                 EARLY TERMINATION

4.01   EARLY TERMINATION.  This Article shall not apply to a Change of Control
       Termination which is governed solely by the provisions of Article VII,
       and does not alter the respective continuing obligations of the parties
       pursuant to Articles V, VI, and IX.

4.02   TERMINATION FOR CAUSE.  Ceridian may terminate this Agreement and
       Executive's employment immediately for cause.  For the purpose hereof
       "cause" means:

       (a)    fraud;

       (b)    misrepresentation;

       (c)    theft or embezzlement of Ceridian assets;

       (d)    intentional violations of law involving moral turpitude;

       (e)    failure to follow Ceridian's conduct and ethics policies; and/or

       (f)    the continued failure by Executive to attempt in good faith to
              perform his or her duties as reasonably assigned to Executive
              pursuant to Section 2.02 of Article II of this Agreement for a
              period of 60 days after a written demand for such performance
              which specifically identifies the manner in which it is alleged
              Executive has not attempted in good faith to perform such duties.

       In the event of termination for cause pursuant to this Section 4.02,
       Executive shall be paid at the usual rate of Executive's annual Base
       Salary through the date of termination specified in any written notice of
       termination.

4.03   TERMINATION WITHOUT CAUSE.  Either Executive or Ceridian may terminate
       this Agreement and Executive's employment without cause on at least 75
       days' written notice.  In the event of termination of this Agreement and
       of Executive's employment pursuant to this Section 4.03, compensation
       shall be paid as follows:

       (a)    if the notice of termination is given by Executive, Executive
              shall be paid at the usual rate of his or her annual Base Salary
              through the 75 day notice period;

       (b)    if the notice of termination is given by Ceridian, (1) Executive
              shall be paid at the usual rate of his or her annual Base Salary
              through the 75 day notice period, however, Ceridian shall have the
              option of making termination of the Agreement and Executive's
              employment effective immediately upon notice in which case
              Executive shall be paid a lump sum representing the value of 75
              days worth of salary; and (2) Executive shall receive, starting
              within 15 days after the end of the

                                       5

<PAGE>

              75 day notice period, two year's Base Salary payable, at the sole
              discretion of Ceridian, in either the form of a lump sum payment
              or on a regular payroll period basis.  In addition, Executive
              shall receive the bonus, if any, to which Executive would
              otherwise have become entitled under all applicable Ceridian bonus
              plans in effect at the time of termination of this Agreement had
              Executive remained continuously employed for the full fiscal year
              in which termination occurred and continued to perform his or
              her duties in the same manner as they were performed immediately
              prior to termination, multiplied by a fraction, the numerator of
              which shall be the number of whole months Executive was employed
              in the year in which termination occurred and the denominator of
              which is 12. This bonus amount shall be paid within 15 days
              after the date such bonus would have been paid had Executive
              remained employed for the full fiscal year.  In addition,
              Ceridian shall provide or make arrangements for reasonable
              outplacement services for Executive based on his or her level
              within Ceridian.

       (c)    In the event that termination occurs pursuant to Section 4.03(b),
              in addition to the payments specified therein, Ceridian shall pay
              to Executive an amount equal to one year's Base Salary payable, at
              the sole discretion of Ceridian, in either the form of a lump sum
              payment or on a regular payroll period basis, provided Executive
              executes a release, similar to that attached as Exhibit A, of all
              claims against Ceridian.

4.04   TERMINATION IN THE EVENT OF DEATH OR DISABILITY.  This Agreement shall
       terminate in the event of death or disability of Executive.

       (a)    In the event of Executive's death, Ceridian shall pay an amount
              equal to 12 months of Base Salary at the rate in effect at the
              time of Executive's death plus the amount Executive would have
              received in annual incentive plan bonus for the year in which the
              death occurs had "target" goals been achieved.  Such amount shall
              be paid (1) to the beneficiary or beneficiaries designated in
              writing to Ceridian by Executive, (2) in the absence of such
              designation to the surviving spouse, or (3) if there is no
              surviving spouse, or such surviving spouse disclaims all or any
              part, then the full amount, or such disclaimed portion, shall be
              paid to the executor, administrator or other personal
              representative of Executive's estate.  The amount shall be paid as
              a lump sum as soon as practicable following Ceridian's receipt of
              notice of Executive's death.  All such payments shall be in
              addition to any payments due pursuant to Section 4.04(c) below.

       (b)    In the event of Executive's disability, Base Salary shall be
              terminated as of the end of the month in which the last day of the
              six-month period of Executive's inability to perform his or her
              duties occurs.

       (c)    In the event of termination by reason of Executive's death or
              disability, Ceridian shall pay to Executive any amount equal to
              (1) the amount Executive would have received in annual incentive
              plan bonus for the year in which termination occurs

                                       6

<PAGE>

              had "target" goals been achieved, multiplied by (2) a fraction,
              the numerator of which shall be the number of whole months
              Executive was employed in the year in which the death or
              disability occurred and the denominator of which is 12.  The
              amount payable pursuant to this Section 4.04(c) shall be paid
              within 15 days after the date such bonus would have been paid
              had Executive remained employed for the full fiscal year.

4.05   RETIREMENT.

       (a)    Executive may terminate this Agreement and Executive's employment
              as a result of Executive's decision to retire from Ceridian.
              Executive shall provide Ceridian with at least 75 days' written
              notice of the date upon which Executive intends to retire.
              Executive shall be paid at the usual rate of his or her annual
              Base Salary through the date of retirement stipulated in the
              written notice.

       (b)    In the event that Executive terminates this Agreement as a result
              of Executive's decision to retire from Ceridian and Executive is
              at least 55 years of age with five or more years of service to
              Ceridian, then Executive (and anyone entitled to claim under or
              through Executive) shall, until age 65, be entitled to receive
              from Ceridian the same or equivalent health, dental, accidental
              death and dismemberment, short and long-term disability, life
              insurance coverages, and all other insurance policies and health
              and welfare benefits programs, policies or arrangements, at the
              same levels and coverages as Executive was receiving on the day
              immediately prior to his or her retirement. Executive shall be
              required to pay no more for the above mentioned benefits than
              he/she paid as an active employee, or if provided by Ceridian
              at no cost to employees on the day immediately prior to
              Executive's retirement, they shall continue to be made
              available to Executive on this basis.

4.06   ENTIRE TERMINATION PAYMENT.  The compensation provided for in this
       Article IV for early termination of this Agreement and termination
       pursuant to this Article IV shall constitute Executive's sole remedy for
       such termination.  Executive shall not be entitled to any other
       termination or severance payment which may be payable to Executive under
       any other agreement between Executive and Ceridian.

                                     ARTICLE V

                     CONFIDENTIALITY, DISCLOSURE AND ASSIGNMENT

5.01   CONFIDENTIALITY.  Executive will not, during the term or after the
       termination or expiration of this Agreement or his/her employment,
       publish, disclose, or utilize in any manner any Confidential Information
       obtained while employed by Ceridian. If Executive leaves the employ of
       Ceridian, Executive will not, without Ceridian's prior written consent,
       retain or take away any drawing, writing or other record in any form
       containing any Confidential Information.

5.02   BUSINESS CONDUCT AND ETHICS. During the term of employment with Ceridian,
       Executive will engage in no activity or employment which may conflict
       with the interest of Ceridian, and will comply with Ceridian's policies
       and guidelines pertaining to business conduct and ethics.

5.03   DISCLOSURE.  Executive will disclose promptly in writing to
       Ceridian all inventions, discoveries, software, writings and other works
       of authorship which are conceived, made, discovered, or written jointly
       or singly on Ceridian time or on Executive's own time, providing the
       invention, improvement, discovery, software, writing or other work of
       authorship is capable of being used by Ceridian in the normal course of
       business, and all such inventions, improvements, discoveries, software,
       writings and other works of authorship shall belong solely to Ceridian.

                                       7
<PAGE>

5.04   INSTRUMENTS OF ASSIGNMENT.  Executive will sign and execute all
       instruments of assignment and other papers to evidence vestiture of
       Executive's entire right, title and interest in such inventions,
       improvements, discoveries, software, writings or other works of
       authorship in Ceridian, at the request and the expense of Ceridian, and
       Executive will do all acts and sign all instruments of assignment and
       other papers Ceridian may reasonably request relating to applications
       for patents, patents, copyrights, and the enforcement and protection
       thereof. If Executive is needed, at any time, to give testimony,
       evidence, or opinions in any litigation or proceeding involving any
       patents or copyrights or applications for patents or copyrights, both
       domestic and foreign, relating to inventions, improvements, discoveries,
       software, writings or other works of authorship conceived, developed or
       reduced to practice by Executive, Executive agrees to do so, and if
       Executive leaves the employ of Ceridian, Ceridian shall pay Executive
       at a rate mutually agreeable to Executive and Ceridian, plus reasonable
       traveling or other expenses.

5.05   INVENTIONS DEVELOPED ON EXECUTIVE'S OWN TIME.  The two immediately
       preceding sections entitled "Disclosure" and "Instruments of Assignment"
       do not apply to inventions in which a Ceridian claim of any rights will
       create a violation of Chapter 181 Minnesota Statutes, Section 181.78,
       reproduced below and constituting the written notification of its
       Subdivision 3.

       181.78 Agreements; terms relating to inventions

       Subdivision 1.

       Any provision in an employment agreement which provides that an employee
       shall assign or offer to assign any of the employee's rights in an
       invention to the employer shall not apply to an invention for which no
       equipment, supplies, facility or trade secret information of the employer
       was used and which was developed entirely on the employee's own time, and
       (1) which does not relate (a) directly to the business of the employer or
       (b) to the employer's actual or demonstrably anticipated research or
       development, or (2) which does not result from any work performed by the
       employee for the employer.  Any provision which purports to apply to such
       an invention is to that extent against the public policy of this state
       and is to that extent void and unenforceable.

       Subdivision 2.

       No employer shall require a provision made void and unenforceable by
       subdivision 1 as a condition of employment or continuing employment.

       Subdivision 3.

       IF AN EMPLOYMENT AGREEMENT ENTERED INTO AFTER AUGUST 1, 1977, CONTAINS A
       PROVISION REQUIRING THE EMPLOYEE TO ASSIGN OR OFFER TO ASSIGN ANY OF THE
       EMPLOYEE'S RIGHTS IN ANY INVENTION TO AN

                                       8

<PAGE>

       EMPLOYER, THE EMPLOYER MUST ALSO, AT THE TIME THE AGREEMENT IS MADE,
       PROVIDE A WRITTEN NOTIFICATION TO THE EMPLOYEE THAT THE AGREEMENT DOES
       NOT APPLY TO AN INVENTION FOR WHICH NO EQUIPMENT, SUPPLIES, FACILITY
       OR TRADE SECRET INFORMATION OF THE EMPLOYER WAS USED AND WHICH WAS
       DEVELOPED ENTIRELY ON THE EMPLOYEE'S OWN TIME, AND (1) WHICH DOES NOT
       RELATE (a) DIRECTLY TO THE BUSINESS OF THE EMPLOYER OR (b) TO THE
       EMPLOYER'S ACTUAL OR DEMONSTRABLY ANTICIPATED RESEARCH OR DEVELOPMENT,
       OR (2) WHICH DOES NOT RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR
       THE EMPLOYER.

5.06   EXECUTIVE'S DECLARATION. Executive has no inventions, data bases,
       improvements, discoveries, software, writings or other works of
       authorship useful to Ceridian in the normal course of business, which
       were conceived, made or written prior to the date of this Agreement and
       which are excluded from this Agreement.

5.07   SURVIVAL.  The obligations of this Article V shall survive the expiration
       or termination of this Agreement and Executive's employment.

                                     ARTICLE VI

              NON-COMPETITION, NON-RECRUITMENT, AND NON-DISPARAGEMENT

6.01   GENERAL.  The parties hereto recognize and agree that (a) Executive is
       a senior executive of Ceridian and is a key executive of Ceridian, (b)
       Executive has received, and will in the future receive, substantial
       amounts of Confidential Information, (c) Ceridian's business is
       conducted on a worldwide basis, and (d) provision for non-competition,
       non-recruitment and non-disparagement obligations by Executive is
       critical to Ceridian's continued economic well-being and protection of
       Ceridian's Confidential Information.  In light of these
       considerations, this Article VI sets forth the terms and conditions of
       Executive's obligations of non-competition, non-recruitment and
       non-disparagement subsequent to the termination of this Agreement
       and/or Executive's employment for any reason.

6.02   NON-COMPETITION.

       (a)    Unless the obligation is waived or limited by Ceridian in
              accordance with subsection (b) of this Section 6.02, Executive
              agrees that for a period of three years following termination of
              employment for any reason ("Non-Compete Period"), Executive will
              not directly or indirectly, alone or as a partner, officer,
              director, shareholder or employee of any other firm or entity,
              engage in any commercial activity in competition with any part of
              Ceridian's business as conducted as of the date of such
              termination of employment or with any part of Ceridian's
              contemplated business with respect to which Executive has
              Confidential Information.  For purposes of this subsection (a),
              "shareholder" shall

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<PAGE>

              not include beneficial ownership of less than five percent (5%)
              of the combined voting power of all issued and outstanding
              voting securities of a publicly held corporation whose stock is
              traded on a major stock exchange.  Also for purposes of this
              subsection (a), "Ceridian's business" shall include business
              conducted by Ceridian or its affiliates and any partnership or
              joint venture in which Ceridian or its affiliates is a partner
              or joint venturer; provided that, "affiliate" as used in this
              sentence shall not include any corporation in which Ceridian
              has ownership of less than fifteen percent (15%) of the voting
              stock.

       (b)    At its sole option Ceridian may, by written notice to Executive at
              any time within the Non-Compete Period, waive or limit the time
              and/or geographic area in which Executive cannot engage in
              competitive activity.

       (c)    During the Non-Compete Period, prior to accepting employment with
              or agreeing to provide consulting services to, any firm or entity
              which offers competitive products or services, Executive shall
              give 30 days prior written notice to Ceridian.  Such written
              notice shall describe the firm and the employment or consulting
              services to be rendered to the firm or entity, and shall include a
              copy of the written offer of employment or engagement of
              consulting services.  Ceridian's failure to respond or object to
              such notice shall not in any way constitute acquiescence or waiver
              of Ceridian's rights under this Article VI.

       (d)    In the event Executive has provided notice to Ceridian pursuant to
              subsection (c) of this Section 6.02 and has not accepted
              employment with or agreed to provide consulting services to, any
              firm or entity directly as a result of his or her non-competition
              obligation pursuant to this Section 6.02, Ceridian shall pay
              Executive an amount equal to the usual rate of Executive's Base
              Salary in effect at the time of termination on a regular payroll
              period basis until the end of the Non-Compete Period.  There shall
              be credited against Ceridian's obligation to make such payments
              any other payments made by Ceridian to Executive pursuant to
              Article IV of this Agreement.  In the event that Ceridian elects,
              pursuant to subsection (b) of this Section 6.02, to waive all or
              any portion of the non-competition obligation set forth in
              subsection (a) hereof, no payment shall be required by Ceridian
              with respect to the portion of the Non-Compete Period which has
              been waived.

       (e)    In the event Executive fails to provide notice to Ceridian
              pursuant to subsection (c) of this Section 6.02 and/or in anyway
              violates its non-competition obligation pursuant to Section 6.02,
              Ceridian may enforce all of its rights and remedies provided to it
              under this Agreement, in law and in equity, and Executive shall be
              deemed to have expressly waived any rights he or she may have had
              to payments under subsection (d) of this Section 6.02.

6.03   NON-RECRUITMENT.  For a period of three years following termination of
       employment for any reason, Executive will not initiate or actively
       participate in any other employer's recruitment or hiring of Ceridian
       employees.  This provision shall not preclude Executive

                                       10

<PAGE>

       from responding to a request (other than by Executive's employer) for a
       reference with respect to an individual's employment qualifications.

6.04   NON-DISPARAGEMENT.  Executive will not, during the term or after the
       termination or expiration of this Agreement or Executive's employment,
       make disparaging statements, in any form, about Ceridian, its officers,
       directors, agents, employees, products or services which Executive knows,
       or has reason to believe, are false or misleading.

6.05   SURVIVAL.  The obligations of this Article VI shall survive the
       expiration or termination of this Agreement and Executive's employment.

                                    ARTICLE VII

                                 CHANGE OF CONTROL

7.01   DEFINITIONS.  For purposes of this Article VII, the following definitions
       shall be applied:

       (a)    "BENEFIT PLAN" means any formal or informal plan, program or other
              arrangement heretofore or hereafter adopted by Ceridian for the
              direct or indirect provision of compensation to Executive
              (including groups or classes of participants or beneficiaries of
              which Executive is a member), whether or not such compensation is
              deferred, is in the form of cash or other property or rights, or
              is in the form of a benefit to or for Executive.

       (b)    "CHANGE OF CONTROL" shall mean any of the following events:

                     (1)    a merger or consolidation to which Parent
                            Corporation is a party if the individuals and
                            entities who were stockholders of Parent Corporation
                            immediately prior to the effective date of such
                            merger or consolidation have beneficial ownership
                            (as defined in Rule 13d-3 under the Securities
                            Exchange Act of 1934) of less than fifty percent
                            (50%) of the total combined voting power for
                            election of directors of the surviving corporation
                            immediately following the effective date of 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) in the aggregate of securities of
                            Parent Corporation representing twenty-five percent
                            (25%) or more of the total combined voting power of
                            Parent Corporation's then issued and outstanding
                            securities 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: (A) any acquisition by Parent
                            Corporation, or (B) any acquisition by any

                                      11

<PAGE>

                            employee benefit plan (or related trust) sponsored
                            or maintained by Parent Corporation or any
                            corporation controlled by Parent Corporation; or

                     (3)    the sale of the properties and assets of Parent
                            Corporation, substantially as an entirety, to any
                            person or entity which is not a wholly-owned
                            subsidiary of Parent Corporation; or

                     (4)    the stockholders of Parent Corporation approve any
                            plan or proposal for the liquidation of Parent
                            Corporation; or

                     (5)    a change in the composition of the Board at any time
                            during any consecutive 24 month period such that the
                            "Continuity Directors" cease for any reason to
                            constitute at least a seventy percent (70%) majority
                            of the Board.  For purposes of this clause,
                            "Continuity Directors" means those members of the
                            Board who either (A) were directors at the beginning
                            of such consecutive 24 month period, or (B) were
                            elected by, or on the nomination or recommendation
                            of, at least a two-thirds (2/3) majority of the
                            then-existing Board; or

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

       (c)    "CHANGE OF CONTROL COMPENSATION" means any payment or benefit
       (including any transfer of property) in the nature of compensation, to or
       for the benefit of Executive under this Agreement or any Other Agreement
       or Benefit Plan, which is considered to be contingent on a Change of
       Control for purposes of Section 280G of the Code.

       (d)    "CHANGE OF CONTROL TERMINATION" means, with respect to Executive,
       either of the following events occurring within two years after a Change
       of Control:

                     (1)    Termination of Executive's employment by Ceridian
                            for any reason other than (A) fraud, (B)
                            misrepresentation, (C) theft or embezzlement of
                            Ceridian assets, (D) intentional violations of law
                            involving moral turpitude, or (E) failure to follow
                            Ceridian's conduct and ethics policies; or

                     (2)    Termination of employment with Ceridian by Executive
                            pursuant to Section 7.02 of this Article VII.

                                      12

<PAGE>

                            A Change of Control Termination by Executive shall
                            not, however, include termination by reason of death
                            or Disability.

       (e)    "CODE" means the Internal Revenue Code of 1986, as amended.  Any
       reference to a section of the Code shall include the corresponding
       section of such Code as from time to time amended.

       (f)    "GOOD REASON" means a good faith determination by Executive, in
       Executive's sole and absolute judgment, that any one or more of the
       following events has occurred, without Executive's express written
       consent, after a Change of Control:

                     (1)    A change in Executive's reporting responsibilities,
                            titles or offices as in effect immediately prior to
                            the Change of Control, or any removal of Executive
                            from, or any failure to re-elect Executive to, any
                            of such positions, which has the effect of
                            materially diminishing Executive's responsibility or
                            authority;

                     (2)    A reduction by Ceridian in Executive's Base Salary
                            as in effect immediately prior to the Change of
                            Control or as the same may be increased from time to
                            time thereafter;

                     (3)    Ceridian requiring Executive to be based anywhere
                            other than within 25 miles of Executive's job
                            location at the time of the Change of Control;

                     (4)    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, (A) the
                            failure by Ceridian to continue in effect, within
                            its maximum stated term, any pension, 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
                            immediately prior to a Change of Control; or (B) the
                            taking of any action by Ceridian that would
                            materially adversely affect Executive's
                            participation or materially reduce Executive's
                            benefits under any of such plans, programs or
                            arrangements;

                     (5)    The failure by Ceridian to provide office space,
                            furniture, and secretarial support at least
                            comparable to that provided Executive immediately
                            prior to the Change of Control or the taking of any
                            similar action by Ceridian that would materially
                            adversely affect the working conditions in or under
                            which Executive performs his or her employment
                            duties;

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<PAGE>

                     (6)    If Executive's primary employment duties are with a
                            Subsidiary, the sale, merger, contribution, transfer
                            or any other transaction in conjunction with which
                            Parent Corporation's ownership interest in such
                            Subsidiary decreases below the level specified in
                            Section 1.07 of Article I unless (A) this Agreement
                            is assigned to the purchaser/transferee with the
                            provisions of Article VII in full force and effect
                            and operative as if a Change of Control has occurred
                            with respect to the purchaser/transferee as Parent
                            Corporation immediately after the purchase/transfer
                            becomes effective, and (B) such purchaser/transferee
                            has a creditworthiness reasonably equivalent to
                            Parent Corporation's; or

                     (7)    Any material breach of this Agreement by Ceridian.

       (g)    "OTHER AGREEMENTS" means any agreement, contract or understanding
       heretofore or hereafter entered into between Executive and Ceridian for
       the direct or indirect provision of compensation to Executive.

7.02   CHANGE OF CONTROL TERMINATION RIGHT.  For a period of two years following
       a Change of Control that occurred during the term of this Agreement,
       Executive shall have the right, at any time and within Executive's sole
       discretion, to terminate employment with Ceridian for Good Reason.  Such
       termination shall be accomplished by, and effective upon, Executive
       giving written notice to Ceridian of Executive's decision to terminate.
       Except as otherwise expressly provided in this Agreement, upon the
       exercise of said right, all obligations and duties of Executive under
       this Agreement shall be of no further force and effect.

7.03   CHANGE OF CONTROL TERMINATION PAYMENT.

       (a)   In the event of a Change of Control Termination that occurred
             during the term of this Agreement, then, and without further
             action by the Board, Compensation Committee or otherwise, Ceridian
             shall, within five days of such termination, make a lump sum
             payment to Executive in an amount equal to three times the sum of
             (i) 12 months of Base Salary at the rate in effect at the time of
             Executive's termination, (ii) the bonus, if any, that Executive
             would have received under all applicable Ceridian bonus plans
             for the year in which the termination occurs had "superior" goals
             been achieved, and (iii) the annual perquisite cash adder
             Executive would have received in the year in which the termination
             occurs.

       (b)   In addition to the payments made pursuant to Section 7.03(a)
             hereof, in the event the Change of Control Termination that
             occurred during the term of this Agreement, then, and without
             further action by the Board, Compensation Committee or otherwise,
             Ceridian shall provide to Executive a pension supplement
             equivalent to the difference, if any, between: (i) the monthly
             benefits to which Executive would have been entitled under the
             defined benefit pension plan or plans in which Executive
             participates immediately prior to the Change of Control
             Termination which includes an additional five years of age and
             service for terminations on or prior to December 31, 2004 or an
             additional three years of age and service for terminations after
             December 31, 2004; and (ii) the amount to which Executive is, in
             fact, entitled under such defined benefit pension plan or plans.

       (c)   Neither the payments made or the pension supplement provided
             pursuant to this Section 7.03 nor any other compensation to be
             provided to Executive by Ceridian pursuant to this Agreement or
             any other agreement or Benefit Plan which may be considered Change
             of Control Compensation shall be subject to any limitation on
             Change of Control Compensation which may otherwise be expressed
             in any such agreement or Benefit Plan.

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<PAGE>

7.04   TAX REIMBURSEMENT.

       (a)    Anything in this Agreement to the contrary notwithstanding, in the
              event it shall be determined that any payments or distributions by
              Ceridian to or for the benefit of Executive (whether paid or
              payable or distributed or distributable pursuant to the terms of
              this Agreement or otherwise, but determined without regard to any
              payments required under this Section 7.04) (collectively, the
              "Payments") would be subject to the excise tax imposed by Section
              4999 of the Code or any interest or penalties are incurred by
              Executive with respect to such excise tax (such excise tax,
              together with any such interest and penalties, are hereinafter
              collectively referred to as the "Excise Tax"), then Executive
              shall be entitled to receive an additional payment (a "Gross-Up
              Payment") in an amount such that, after payment by Executive of
              all taxes (and any interest or penalties imposed with respect to
              such taxes), including any income taxes and Excise Tax imposed
              upon the Gross-Up Payment, Executive retains an amount of the
              Gross-Up Payment equal to the Excise Tax imposed upon the
              Payments.

       (b)    Subject to the provisions of Section 7.04(d), all determinations
              required to be made under this Section 7.04, including whether and
              when a Gross-Up Payment is required and the amount such Gross-Up
              Payment and the assumptions to be utilized in arriving at such
              determination, shall be made by Ceridian's external auditors (the
              "Accounting Firm"), which shall provide detailed supporting
              calculations both to Ceridian and Executive within 15 business
              days of the receipt of notice from Executive that there has been a
              Payment, or such earlier time as is requested by Ceridian.  In the
              event that the Accounting Firm is serving as accountant or auditor
              for the individual, entity or group effecting the Change of
              Control, Executive shall appoint another nationally recognized
              accounting firm to make the determinations required hereunder
              (which accounting firm shall then be referred to as the
              "Accounting Firm" hereunder).  All fees and expenses of the
              Accounting Firm shall be borne solely by Ceridian.  Any Gross-Up
              Payment, as determined pursuant to this Section 7.04, shall be
              paid by Ceridian to Executive within five days of the receipt of
              the Accounting Firm's determination.  Any determination by the
              Accounting Firm shall be binding upon Ceridian and Executive.

       (c)    As a result of uncertainty in the application of Section 4999 of
              the Code at the time of the initial determination by the
              Accounting Firm hereunder, it is possible that Gross-Up Payments
              which should have been made by Ceridian will not have been made
              ("Underpayment"), consistent with the calculations required to be
              made hereunder.  In the event that Ceridian exhausts its remedies
              pursuant to Section 7.04(d) and Executive thereafter is required
              to make a payment of any additional Excise Tax, the Accounting
              Firm shall determine the amount of the Underpayment that has
              occurred and any such Underpayment shall be promptly paid by
              Ceridian to or for the benefit of Executive.

                                      15

<PAGE>

       (d)    Executive shall notify Ceridian in writing of any claim by the
              Internal Revenue Service or any other taxing authority that, if
              successful, would require the payment by Ceridian of any Gross-Up
              Payment.  Such notification shall be given as soon as
              practicable but no later than ten business days after Executive
              knows of such claim and shall apprise Ceridian of the nature of
              such claim and the date on which such claim is requested to be
              paid.  Executive shall not pay such claim prior to the expiration
              of the thirty-day period following the date on which it gives
              such notice to Ceridian (or such shorter period ending on the
              date that any payment of taxes with respect to such claim is
              due).  If Ceridian notifies Executive in writing prior to the
              expiration of such period that it desires to contest such claim,
              Executive shall:

                            (i)    give Ceridian any information reasonably
                                   requested by Ceridian relating to such claim;

                            (ii)   take such action in connection with
                                   contesting such claim as Ceridian shall
                                   reasonably request in writing from time to
                                   time, including accepting legal
                                   representation with respect to such claim by
                                   an attorney reasonably selected by Ceridian;

                            (iii)  cooperate with Ceridian in good faith in
                                   order to effectively contest such claim; and

                            (iv)   permit Ceridian to participate in any
                                   proceedings relating to such claim;

              provided, however, that Ceridian shall bear and pay directly all
              costs and expenses (including additional interest and penalties)
              incurred in connection with such contest and shall indemnify and
              hold Executive harmless, on an after-tax basis, for any Excise Tax
              or income tax (including interest and penalties with respect
              thereto) imposed as a result of such representation and payment of
              costs and expenses.  Without limitation on the foregoing
              provisions of this Section 7.04(d), Ceridian shall control all
              proceedings taken in connection with such contest and, at its sole
              option, may pursue or forego any and all administrative appeals,
              proceedings, hearings and conferences with the taxing authority in
              respect of such claim and may, at its sole option, either direct
              Executive to pay the tax claimed and sue for a refund or contest
              the claim in any permissible manner, and Executive agrees to
              prosecute such contest to a determination before any
              administrative tribunal, in a court of initial jurisdiction and in
              one or more appellate courts, as Ceridian shall determine;
              provided further, however, that if Ceridian directs Executive to
              pay such claim and sue for a refund, Ceridian shall advance the
              amount of such payment to Executive on an interest-free basis and
              shall indemnify and hold Executive harmless, on an after-tax
              basis, from any

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<PAGE>

              Excise Tax or income tax (including interest or penalties with
              respect thereto) imposed with respect to such advance or with
              respect to any imputed income with respect to such advance; and
              provided further that any extension of the statute of
              limitations relating to payment of taxes for the taxable year
              of Executive with respect to which such contested amount is
              claimed to be due is limited solely to such contested amount.
              Furthermore, Ceridian's control of the contest shall be limited
              to issues with respect to which a Gross-Up Payment would be
              payable hereunder and Executive shall be entitled to settle or
              contest, as the case may be, any other issue raised by the
              Internal Revenue Service or any other taxing authority.

       (e)    If, after the receipt by Executive of an amount advanced by
              Ceridian pursuant to Section 7.04(d), Executive becomes entitled
              to receive any refund with respect to such claim, Executive shall
              (subject to Ceridian's complying with the requirements of Section
              7.04(d)) promptly pay to Ceridian the amount of such refund
              (together with any interest paid or credited thereon after taxes
              applicable thereto).  If, after the receipt by Executive of an
              amount advanced by Ceridian pursuant to Section 7.04(d), a
              determination is made that Executive shall not be entitled to any
              refund with respect to such claim and Ceridian does not notify
              Executive in writing of its intent to contest such denial of
              refund prior to the expiration of thirty days after such
              determination, then such advance shall be forgiven and shall not
              be required to be repaid and the amount of such advance shall
              offset, to the extent thereof, the amount of Gross-Up Payment
              required to be paid.

7.05   INTEREST.  In the event Ceridian does not make timely payment in full of
       the Change of Control Termination payment described in Section 7.03,
       Executive shall be entitled to receive interest on any unpaid amount at
       the lower of:  (a) the prime rate of interest (or such comparable index
       as may be adopted) established from time to time by the Bank of America
       National Trust and Savings Association, New York, New York or its
       successor in interest; or (b) the maximum rate permitted under Section
       280G(d)(4) of the Internal Revenue Code.

7.06   ATTORNEYS' FEES.  In the event Executive incurs any legal expense to
       enforce or defend his or her rights under this Article VII of this
       Agreement, or to recover damages for breach thereof, Executive shall be
       entitled to recover from Ceridian any expenses for attorneys' fees and
       disbursements incurred.

7.07   BENEFITS CONTINUATION.  In the event of a Change of Control Termination,
       Executive (and anyone entitled to claim under or through Executive)
       shall, until age 65, be entitled to receive from Ceridian the same or
       equivalent health, dental, accidental death and dismemberment, short and
       long-term disability, life insurance coverages, and all other insurance
       policies and health and welfare benefits programs, policies or
       arrangements, at the same levels and coverages as Executive was receiving
       on the day immediately prior to

                                      17

<PAGE>

       the Change of Control at a cost not to exceed the amount Executive would
       continue to pay had he/she continued to be an active employee of
       Ceridian.  To the extent that election of continuation of any of such
       coverages, programs, policies, or arrangements is made available to
       employees terminating at age 55 with 15 or more years of service,
       Executive shall be required to pay no more for continuation than is
       required of such employees on the day immediately prior to the Change
       of Control.  If no such continuation program is available, Executive
       shall be required to pay no more than he/she paid as an active employee,
       or if provided by Ceridian at no cost to employees on the day
       immediately prior to the Change of Control, they shall continue to be
       made available to Executive on this basis.

                                    ARTICLE VIII

                            CHANGE OF SUBSIDIARY STATUS

In the event that, prior to a Change of Control: (a) a Subsidiary is sold,
merged, contributed, or in any other manner transferred, or if for any reason
Parent Corporation's ownership interest in any such Subsidiary falls below the
level specified in Section 1.07, (b) Executive's primary employment duties are
with the Subsidiary at the time of the occurrence of such event, and (c)
Executive does not, in conjunction therewith, transfer employment directly to
Parent Corporation or another Subsidiary, then:

       (1)    If Executive gives his or her written consent to the assignment of
              this Agreement to such Subsidiary, or to the purchaser or new
              majority interest holder of such Subsidiary, (and such assignment
              is accepted) this Agreement shall remain in full force and effect
              between Executive and the assignee, except that the provisions of
              Article VII of this Agreement shall become null and void;

       (2)    If such assignment is not accepted by the Subsidiary or purchaser,
              then this Agreement shall be deemed to have been terminated by
              Ceridian without cause pursuant to Section 4.03 of Article IV; and

       (3)    In all other cases, this Agreement shall be deemed terminated for
              cause pursuant to Section 4.02 of Article IV.

                                     ARTICLE IX

                                 GENERAL PROVISIONS

9.01   NO ADEQUATE REMEDY.  The parties declare that it is impossible to measure
       in money the damages which will accrue to either party by reason of a
       failure to perform any of the obligations under this Agreement and
       therefore injunctive relief is appropriate.  Therefore, if either party
       shall institute any action or proceeding to enforce the provisions

                                      18

<PAGE>

       hereof, such party against whom such action or proceeding is brought
       hereby waives the claim or defense that such party has an adequate remedy
       at law, and such party shall not urge in any such action or proceeding
       the claim or defense that such party has an adequate remedy at law.

9.02   SUCCESSORS AND ASSIGNS.  Except as otherwise provided in Article VIII,
       this Agreement shall be binding upon and inure to the benefit of the
       successors and assigns of Parent Corporation and each Subsidiary, whether
       by way of merger, consolidation, operation of law, assignment, purchase
       or other acquisition of substantially all of the assets or business of
       Ceridian, and any such successor or assign shall absolutely and
       unconditionally assume all of Ceridian's obligations hereunder.

9.03   NOTICES.  All notices, requests and demands given to or made pursuant
       hereto shall, except as otherwise specified herein, be in writing and be
       delivered or mailed to any such party at its address:

       (a)    Ceridian Corporation
              8100 34th Avenue South
              Minneapolis, Minnesota 55425-1640
              Attention:  Office of General Counsel

       (b)    In the case of Executive shall be:

              At the address listed on the last page of this Agreement.

              Either party may, by notice hereunder, designate a changed
              address.  Any notice, if mailed properly addressed, postage
              prepaid, registered or certified mail, shall be deemed dispatched
              on the registered date or that stamped on the certified mail
              receipt, and shall be deemed received within the second business
              day thereafter or when it is actually received, whichever is
              sooner.

9.04   CAPTIONS.  The various headings or captions in this Agreement are for
       convenience only and shall not affect the meaning or interpretation of
       this Agreement.

9.05   GOVERNING LAW.  The validity, construction and performance of this
       Agreement shall be governed by the laws of the State of Minnesota and any
       and every legal proceeding arising out of or in connection with this
       Agreement shall be brought in the appropriate courts of the State of
       Minnesota, each of the parties hereby consenting to the exclusive
       jurisdiction of said courts for this purpose.  The parties hereto
       expressly recognize and agree that the implementation of this Governing
       Law provision is essential in light of the fact that Parent Corporation's
       corporate headquarters and its principal executive offices are located
       within the State of Minnesota, and there is a critical need for
       uniformity in the interpretation and enforcement of the employment
       agreements between Ceridian and its senior executives.

                                      19

<PAGE>

9.06   CONSTRUCTION.  Wherever possible, each provision of this Agreement shall
       be interpreted in such manner as to be effective and valid under
       applicable law, but if any provision of this Agreement shall be
       prohibited by or invalid under applicable law, such provision shall be
       ineffective only to the extent of such prohibition or invalidity without
       invalidating the remainder of such provision or the remaining provisions
       of this Agreement.

9.07   WAIVERS.  No failure on the part of either party to exercise, and no
       delay in exercising, any right or remedy hereunder shall operate as a
       waiver thereof; nor shall any single or partial exercise of any right or
       remedy hereunder preclude any other or further exercise thereof or the
       exercise of any other right or remedy granted hereby or by any related
       document or by law.

9.08   MODIFICATION.  Any changes or amendments to this Agreement must be in
       writing and signed by both parties.

9.09   ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement and
       understanding between the parties hereto in reference to all the matters
       herein agreed upon.  This Agreement replaces in full all prior employment
       agreements or understandings of the parties hereto, and any and all such
       prior agreements or understandings are hereby rescinded by mutual
       agreement.

IN WITNESS WHEREOF, The parties hereto have caused this Agreement to be duly
executed and delivered as of the day and year first above written.

EXECUTIVE                   CERIDIAN CORPORATION

/s/Ronald L. Turner         By:    /s/Paul S. Walsh

                            Title: Chair, Compensation and
                                   Human Resources Committee
Address:

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