CERIDIAN CORP /DE/
LETTER
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>c90502bexv10w1.htm
<DESCRIPTION>LETTER
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><B>EXHIBIT 10.1</B>

<P>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="75%"></TD>
    <TD width="5%"></TD>
    <TD width="20%"></TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD rowspan="3" align="left" valign="top"><IMG src="c90502bn9050201.gif" alt="(CERIDIAM CORPORATION LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Shirley J. Hughes</B><BR>
Senior Vice President<BR>
Human Resources</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Ceridian Corporation</B><BR>
3311 East Old Shakopee Road<BR>
Minneapolis, MN 55425-1640<BR>
952/853-3301<BR>
Fax: 952/853-3312<BR>
shirley.j.hughes@ceridian.com</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><U><B><I>AMENDED OFFER LETTER</I></B></U>


<P align="left" style="font-size: 10pt">PRIVATE/CONFIDENTIAL



<P align="left" style="font-size: 10pt">December&nbsp;6, 2004



<P align="left" style="font-size: 10pt">Mr.&nbsp;Douglas C. Neve<BR>
10797 Purdey Road<BR>
Eden Prairie, MN 55347


<P align="left" style="font-size: 10pt">Dear Mr.&nbsp;Neve:


<P align="left" style="font-size: 10pt">Ceridian Corporation is pleased to offer you employment as Executive Vice President and Chief
Financial Officer, reporting to Ronald L. Turner, Chairman, President and CEO. Your office will be
located in Bloomington, Minnesota. Your base salary stated on an annualized basis will be
$400,000. You will be eligible to participate in the Ceridian Executive Incentive Plan with a
target annual payout, based on performance, of 80% of your year-end annualized salary with a
maximum payout of 110% at superior performance. Details of the 2005 Ceridian Executive Incentive
Plan will be communicated to you at a later date. For calendar year 2005 only, you are guaranteed
a target bonus payment.


<P align="left" style="font-size: 10pt">In this position you will receive an annual supplemental cash adder of $25,000 paid on the regular
payroll cycle. The purpose of the supplemental cash adder is to provide you the opportunity to
purchase those perquisites most important to you (e.g., financial counseling, tax assistance,
etc.).


<P align="left" style="font-size: 10pt">Upon hire, you will be recommended to the Compensation and Human Resources Committee of the Board
of Directors for a stock award, consisting of 135,000 stock options and 21,700 full value
restricted shares of Ceridian common stock (this combined award of stock options and restricted
shares is equivalent to 200,000 stock options). The option price will be equal to the fair market
value on the date of hire. Upon hire you will receive additional information regarding the grants
and applicable vesting schedules along with other details.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">


<P align="left" style="font-size: 10pt">Mr.&nbsp;Douglas C. Neve<BR>
Amended Offer Letter<BR>
December&nbsp;6, 2004<BR>
Page 2


<P align="left" style="font-size: 10pt">You will receive an executive employment agreement which provides two years of compensation
protection in the event of involuntary loss of job, for reasons other than cause, and three years
of income protection in the event of a change of control and loss of job. The agreement has
non-competition, confidentiality and non-recruitment provisions.


<P align="left" style="font-size: 10pt">You will also receive additional benefits including one extra week of vacation over the normal
Ceridian schedule, an annual physical at Mayo Clinic for you and your spouse, and a company-paid,
portable, Long-Term Care insurance policy for you, and also for your wife with evidence of
insurability.


<P align="left" style="font-size: 10pt">After hire, we will develop an individual Supplemental Executive Retirement Plan (SERP), consistent
with Plans for similar officers. The plan is subject to final approval by the Compensation and
Human Resources Committee of the Board of Directors.


<P align="left" style="font-size: 10pt">In compliance with the Immigration Reform and Control Act of 1986, you are required to complete the
Employment Eligibility Verification Form I-9 at the time of hire. You will be required to provide
documents establishing your identity and employment eligibility. Examples of acceptable documents
include: U.S. Passport, Certificate of U.S. Citizenship, driver&#146;s license and social security card
or birth certificate. Please bring the appropriate documents with you on your first day.


<P align="left" style="font-size: 10pt">As a condition of your employment with Ceridian Corporation, you will be required to sign an
Employee Disclosure, Assignment, Non-Compete and Non-Recruit Agreement (copy enclosed for your
perusal).


<P align="left" style="font-size: 10pt">For clarification and protection of both you and the company, your acceptance of this offer
represents the sole agreement between you and Ceridian Corporation. No prior promises,
representations, or understandings relative to any terms or conditions of your employment are to be
considered as part of this agreement unless expressed in writing in this letter and the enclosed
Employee Disclosure, Assignment, Non-Compete and Non-Recruit Agreement. Ceridian asks that you
keep the terms of this offer confidential.


<P align="left" style="font-size: 10pt">Enclosed you will find collateral materials providing more information regarding some of the
benefit and other plans.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">


<P align="left" style="font-size: 10pt">Mr.&nbsp;Douglas C. Neve<BR>
Amended Offer Letter<BR>
December&nbsp;6, 2004<BR>
Page 3


<P align="left" style="font-size: 10pt">We are all looking forward to having you join Ceridian and to your positive contributions. If you
have any questions, feel free to call me at the office, 952/853-3301, or at home, 612/928-8944.
Please indicate your affirmative response by signing below and returning a copy to my attention.

<P align="left" style="font-size: 10pt">Very truly yours,

<P align="left" style="font-size: 10pt">Shirley J. Hughes

<P align="left" style="font-size: 10pt">Enclosures <I>(provided with original offer letter dated December&nbsp;3, 2004)</I>

<P align="left" style="font-size: 10pt">cc: Ronald L. Turner


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accepted:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Douglas C. Neve
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">12/6/04</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade>&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Douglas C. Neve</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt">


<P align="left" style="font-size: 10pt">Mr.&nbsp;Douglas C. Neve<BR>
Amended Offer Letter<BR>
December&nbsp;6, 2004<BR>
Page 4


<P align="left" style="font-size: 10pt"><U>Enclosures (provided with original offer letter of December&nbsp;3, 2004):</U>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Employee Disclosures, Assignment, Non-Compete and Non-Recruit Agreement</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Description of Equity Program &#150; 2001 Long-Term Incentive Plan</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Description of Incentive Plans</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Officer Benefits Summary</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Executive Disability Pictorial Summary</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>4</I><I>01(k)</I><I> Plan Booklet</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Basic Health, Life, Dental Benefits:</I></TD>
</TR>

</TABLE>

<DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>2004 Comparison Guide &#150; Benefits</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>2004 Benefits Handbook</I></TD>
</TR>
</TABLE>
</DIV>

<DIV>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Deferred Compensation Plan</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Example of Executive Employment Agreement</I></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#149;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><I>Code of Conduct</I></TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
