<SEC-DOCUMENT>0000950123-18-002976.txt : 20180523
<SEC-HEADER>0000950123-18-002976.hdr.sgml : 20180523
<ACCEPTANCE-DATETIME>20180314170757
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-18-002976
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20180314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ceridian HCM Holding Inc.
		CENTRAL INDEX KEY:			0001725057
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				463231686
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		3311 EAST OLD SHAKOPEE ROAD
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55425
		BUSINESS PHONE:		952-853-8100

	MAIL ADDRESS:	
		STREET 1:		3311 EAST OLD SHAKOPEE ROAD
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55425
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRSLTR
<SEQUENCE>1
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">767 Fifth Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">New
York, NY 10153-0119 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">+1 212 310 8000 tel </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">+1 212 310
8007 fax </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">March&nbsp;14, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>VIA
EDGAR TRANSMISSION </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jan Woo </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Legal Branch Chief </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Information Technologies and Services </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and
Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F
Street NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549-3561 </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Ceridian HCM Holding Inc. </B></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> </B></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Submitted February 14, 2018 </B></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>CIK No.&nbsp;0001725057 </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Woo: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of our client, Ceridian HCM Holding Inc., a Delaware corporation (the &#147;Company&#148;), set forth below are the Company&#146;s
responses to the comments of the Staff communicated in its letter addressed to the Company, dated March&nbsp;9, 2018. In connection with such responses, we will be confidentially submitting, electronically via EDGAR, Amendment No.&nbsp;2
(&#147;Amendment No.&nbsp;2&#148;) to the Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> of the Company (CIK No.&nbsp;0001725057) (the &#147;Registration Statement&#148;). We will send to the Staff under separate
cover courtesy copies of Amendment No.&nbsp;2, including copies marked to show the changes effected by Amendment No.&nbsp;2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For ease of
reference, each of the Staff&#146;s comments is reproduced below in bold and is followed by the Company&#146;s response. In addition, unless otherwise indicated, all references to page numbers in such responses are to page numbers in Amendment
No.&nbsp;2. Capitalized terms used in this letter but not otherwise defined herein shall have the meaning ascribed to such term in Amendment No.&nbsp;2. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>General </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note that you intend to &#147;tak[e] advantage of modern technologies including artificial intelligence and blockchain&#148; for your Dayforce platform. Please explain the nature and purpose of blockchain in the
context of your business, and discuss any significant challenges and risks with regard to its implementation and accessibility. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that it has revised the disclosure on pages 4, 9, 67, 98
and 103 accordingly. </P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Woo</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities&nbsp;and&nbsp;Exchange&nbsp;Commission</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">March 14,
2018</P></TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Our Dayforce Solution, page 4 </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note your response to prior comment 5. Please tell us whether you commissioned this study for use in connection with this registration statement. If so, please file a consent as an exhibit to the registration
statement pursuant to Rule 436 of Regulation C and Section&nbsp;7 of the Securities Act. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the
Staff&#146;s comment and respectfully advises the Staff that it did not commission the study cited on pages 6, 7 and 101 of the Registration Statement, nor is it otherwise affiliated with the cited study. This study is available to the public for
purchase. Additionally, none of the information contained in the study was prepared or certified for use in connection with the Registration Statement. Accordingly, we respectfully submit to the Staff that there is no requirement to file any consent
under Rule 436 of Regulation C with respect to such study. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Consolidated Balance Sheet Data, page 14 </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>As the debt refinancing is intended to occur after the offering and the partial debt repayment with the use of offering proceeds is reflected in the pro forma as adjusted column, please revise to exclude the debt
refinancing from the pro forma column. Please similarly revise your Capitalization disclosure on page 54 and your Dilution disclosure on page 55, as applicable. Please tell us how and when you intend to refinance the remaining debt and explain how
this pro forma adjustment is factually supportable. Refer to Rule <FONT STYLE="white-space:nowrap">11-02(b)(6)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that it has revised the disclosure on pages 19, 57 and 58
accordingly. In addition, the Company expects that the pro forma information for the debt refinancing will be completed in a future amendment to the Registration Statement. At that time, the terms of the refinancing will be set forth in a
substantially final form of credit agreement and the pro forma information will give effect to the terms set forth therein. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note the additional pro forma information provided in response to prior comment 8; however, please tell us what consideration was given to providing pro forma financial statements reflecting the distribution of
the business. Refer to Rule <FONT STYLE="white-space:nowrap">11-02(a)(4)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that it has revised the disclosure on pages 61 and 62 to
include a presentation of the Company&#146;s financial information excluding LifeWorks. </P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Woo</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities&nbsp;and&nbsp;Exchange&nbsp;Commission</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">March 14,
2018</P></TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>How We Assess Our Performance, page 63 </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Your response to prior comment 15 states that the size of a Bureau customer is not material to an understanding of your conversion opportunity. It, however, is unclear why this information is not material. Given that
you charge Dayforce customers on a <FONT STYLE="white-space:nowrap">per-employee,</FONT> <FONT STYLE="white-space:nowrap">per-month</FONT> basis, as opposed to a <FONT STYLE="white-space:nowrap">per-process</FONT> basis, it appears that the total
number of employees within a Bureau customer is important to an assessment of this opportunity. Please quantify the composition of your Bureau customer base by size, or advise. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that it has revised the disclosure on page 67
accordingly. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note your response to prior comment 18. As you present the number of live Dayforce customers as a key performance indicator, please further explain why disclosing the extent to which the Bureau customer migrations
impacted this metric is not material to investors. Please tell us the increase in live Dayforce customers that was attributable to the migration of Bureau customers for each period presented. Describe for us the size composition of the migrated
Bureau customers compared to live Dayforce customer types you disclose. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s
comment and respectfully advises the Staff that it has revised the disclosure on pages 68 and 69 accordingly. </P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Woo</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities&nbsp;and&nbsp;Exchange&nbsp;Commission</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">March 14,
2018</P></TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Results of Operations </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Nine Months Ended September&nbsp;30, 2017 Compared With Nine Months Ended September&nbsp;30, 2016 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Revenue, page 70 </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>7.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note your revised disclosure in response to prior comment 19. Please revise to describe and quantify, if practicable, the factors that impacted Cloud revenues for the periods presented, including any offsetting
impacts if material. Please separately disclose the impact of new customers and existing customers, as well as other factors such as pricing. In this regard, we note that your Cloud revenue retention rate is less than 100% and in your response to
prior comment 3 you refer to pricing increases for Powerpay. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and
respectfully advises the Staff that it has revised the disclosure on pages 75 and 81 accordingly. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>HCM Segment Results, page 72 </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>8.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>You provide a discussion of HCM Adjusted EBITDA but do not discuss the corresponding GAAP measure, HCM Operating profit (loss). We note similar concerns on page 77 and with the discussion of LifeWorks segment results
on pages 73 and 77. Revise to provide a discussion of the most directly comparable GAAP measure with equal or greater prominence. Refer to Item 10(e)(1)(i)(A) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> and Question 102.10 of the <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Compliance and Disclosure Interpretations. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the
Staff&#146;s comment and respectfully advises the Staff that it has revised the disclosure on pages 78, 79, 83 and 84. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Recently Issued Accounting
Pronouncements, page 89 </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>9.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Your revised disclosure indicates that you have not concluded when the new revenue standard will be adopted; however, we also note that you have irrevocably elected to &#147;opt out&#148; of the extended transition
provision for new accounting standards. Please reconcile this inconsistency. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s
comment and respectfully advises the Staff that it has revised the disclosure on pages 12, 95 and <FONT STYLE="white-space:nowrap">F-16</FONT> accordingly. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Business, page 92 </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>10.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Your revised disclosure in response to prior comment 28 indicates that you expect the majority of the Dayforce backlog to be taken live in 2018. Please revise to disclose total backlog, not just Dayforce, for each <FONT
STYLE="white-space:nowrap">year-end.</FONT> Also, disclose the portion that is not reasonably expected to be recognized as revenues in the current fiscal year. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and respectfully advises the Staff that it has revised the disclosure on pages 64 and 99
accordingly. </P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Woo</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities&nbsp;and&nbsp;Exchange&nbsp;Commission</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">March 14,
2018</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">


<IMG SRC="g511403g0111214324577.jpg" ALT="LOGO">
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 5
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Consolidated Financial Statements </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Note 6. Customer Trust Funds, page <FONT STYLE="white-space:nowrap">F-49</FONT> </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>11.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Your revised disclosure in response to prior comment 37 indicates that none of the assets held in trust are restricted as to withdrawal or usage to meet client obligations. Please revise to clarify that the assets
held in trust are intended for the specific purpose of satisfying client fund obligations and therefore are not freely available for general business use. Refer to Rule <FONT STYLE="white-space:nowrap">5-02(1)</FONT> of Regulation <FONT
STYLE="white-space:nowrap">S-X.</FONT> </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges the Staff&#146;s comment and respectfully advises the
Staff that it has revised the disclosure on pages 85 and <FONT STYLE="white-space:nowrap">F-21</FONT> accordingly. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Should any questions
arise in connection with the filing or this response letter, please contact the undersigned at (212) <FONT STYLE="white-space:nowrap">310-8971.</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Alexander D. Lynch</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alexander D. Lynch</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Weil, Gotshal&nbsp;&amp;
Manges LLP</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top">David D. Ossip </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Chief Executive Officer </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Ceridian HCM Holding Inc. </TD></TR></TABLE>
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