Ceridian HCM Holding Inc. 2019 Management Incentive Plan

Revenue (50%)

Adjusted EBITDA (50%)

The MIP applies to designated employees, as approved by management in its sole discretion, who are leveled as Management in Grades 7 and above and Professional Individual Contributors in Grades 10 and above.

Eligible employees, including new hires and promotions/job changes, must be actively employed on or before October 1, 2019 to be eligible for MIP. Proration for MIP is based on the employee’s date of eligibility and duration of active employment in the incentive period. Employees on long term leaves are not considered actively employed.

Employees who previously met MIP eligibility criteria and management has approved their continued participation for 2019.

Ceridian retains the right to amend these eligibility criteria in its sole discretion.

Ceridian offers no employee any guarantee of any expectation of receiving an incentive or any incentive payment under the MIP.

Employees will be provided their individual MIP target, a percentage of their base salary (“Individual MIP Target”).

Any MIP payment will be calculated based upon the employee’s base salary multiplied by the employee’s Individual MIP Target percent multiplied by the weighting for the Incentive Component (50% as above). Then multiplied by the Incentive Component Payout % based on the specific Incentive Component Result.

An employee terminated on or prior to September 30, 2019, for any reasons (including with or without just cause or by resignation), is not eligible for any portion of the MIP for the year in which they are terminated, regardless of whether the employee may be entitled to receive compensation, severance or pay in lieu of notice of termination.  

For the purposes of the MIP, employment is considered to terminate on the last date of active employment. In no circumstance will a period relating to pay in lieu of notice or severance be included for eligibility or pay purposes. The employee will not be entitled to recover damages or any other form of compensation in lieu of the incentive payment to which the employee may otherwise have been entitled under the MIP (unless required by local law).    

Employees who resign their employment on or before the incentive payment date or are terminated for cause (or for gross misconduct serious as to justify summary dismissal) at any time, are not eligible for MIP of any nature.

The MIP is discretionary and subject to change from time to time, including discontinuation, at Ceridian’s sole discretion.

Any MIP payments do not vest to the employee nor are deemed wages until and if it is paid.

Any MIP payments will be made as soon as administratively feasible upon approval from the Board in the calendar year following the applicable incentive period year.