STOCK OPTION AWARD AGREEMENT
1993 LONG-TERM INCENTIVE PLAN
This Agreement between you, ______________, and Ceridian Corporation (the "Company") is dated as of
OCTOBER 21, 1998 (the "Date of Grant") and evidences the grant of a Non-Statutory Stock Option (the
"Stock Option") to you pursuant to the 1993 Long-Term Incentive Plan of the Company (the "Plan"). Any
capitalized term used in this Agreement which is defined in the Plan shall have the same meaning as set forth in the
1. Effective as of the Date of Grant, and subject to the terms and conditions of the Plan and this Agreement, the
Company has granted to you the option to purchase from the Company, and the Company has agreed to sell to
you, _________ shares of Common Stock at a price of $54.81 per share (the "Option Shares"). This Stock
Option is comprised of two components: ______ of the Option Shares will become exercisable as provided in
paragraph 3 of this Agreement and are referred to as "Time-Based Option Shares," and ________ of the Option
Shares will become exercisable as provided in paragraph 4 of this Agreement and are referred to as
"Performance-Based Option Shares."
2. This Stock Option will become void and expire at 5:00 p.m. (Minneapolis time) on the tenth anniversary of the
Date of Grant and may not be exercised after that time.
3. Except as otherwise expressly provided in paragraphs 5 through 9 of this Agreement, and provided you have
been continuously employed by the Company or a Subsidiary since the Date of Grant, upon October 21, 1999,
this Option shall become exercisable with respect to one-third of the Time-Based Option Shares, and upon each
succeeding October 21st, the Option shall become exercisable with respect to an additional one-third of the
Time-Based Option Shares.
4. Except as otherwise expressly provided in paragraphs 5 through 9 of this Agreement, this Stock Option will
become exercisable with respect to the Performance-Based Option Shares at the time specified in this par