Company: ACIW
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001193125-25-086263
Chunk: 67

Company: ACI WORLDWIDE, INC.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 67
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 by us without cause.

CEO Severance Agreement

We entered into a severance agreement with our CEO on June 1, 2023 (the “2023 CEO Severance Agreement”), which has a three-year term. The 2023 CEO Severance Agreement provides that if the Company terminates Mr. Warsop’s employment other than for “Cause”, “Death or “Disability,” or Mr. Warsop terminates his employment for “Good Reason,” other than in circumstances covered by Mr. Warsop’s CIC Agreement (defined below), Mr. Warsop would be entitled to the following benefits: (1) a lump sum cash amount equal to 1.5 times the sum of his annual base salary plus his target annual bonus; (2) generally, at least 18 months of continued benefits to him and his family at the same after-tax cost to him as would have applied prior to the termination (or certain economically equivalent benefits); (3) pro-rata vesting of his then-outstanding restricted stock units; and (4) pro-rata vesting of his then-outstanding PSUs based on actual performance for the full performance period. Pro-rata vesting of equity awards as described above is based on Mr. Warsop’s completed months of service during the vesting or performance period, as applicable. The terms “Cause”, “Disability,” and “Good Reason” have the meanings assigned thereto in Mr. Warsop’s CIC Agreement. The separation benefits described above are generally subject to Mr. Warsop’s execution and non-revocation of a customary release of claims in favor of the Company, as well as his compliance with certain customary confidentiality, non-competition, and employee and customer non-solicitation restrictive covenants. Because of his 2023 CEO Severance Agreement, Mr. Warsop did not participate in the Company’s Severance Pay Plan.

Change in Control Agreements

We have entered into a Change in Control Agreement (the “CIC Agreement”) with each of our Named Executive Officers (each an “Executive” for purposes of this section). The CIC Agreement has an initial term of two years and is extended by two years on each anniversary of the effective date unless proper notice is provided to the Executive.

The CIC Agreement provides that ACI will employ the Executive for six months prior to a change in control (three months in the case of the CEO) or for a two-year period following a change in control (as defined in the CIC Agreement) (the “Employ