Document:

QuickLinks
 -- Click here to rapidly navigate through this document
Exhibit 10.32  

Certegy Inc.
  Deferred Compensation Plan
 Master Plan Document  

      
 Effective January 1, 2003  

       
 Copyright © 2002

By Clark/Bardes Consulting, Inc.

Executive Benefits Practice

All Rights Reserved  

  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	Page

	ARTICLE 1	 	Definitions	 	1
	ARTICLE 2	 	Selection, Enrollment, Eligibility	 	7
	2.1	 	Selection by Committee	 	7
	2.2	 	Enrollment Requirements	 	7
	2.3	 	Eligibility; Commencement of Participation	 	7
	2.4	 	Termination of Participation and/or Deferrals	 	7
	ARTICLE 3	 	Deferral Commitments/Chief Executive Officer's Discretionary Bonus Amounts/Restricted Stock Amounts/Stock Option Gain Amounts/Vesting/Crediting/Taxes	 	7
	3.1	 	Minimum Deferrals	 	7
	3.2	 	Maximum Deferral	 	8
	3.3	 	Election to Defer; Effect of Election Form	 	9
	3.4	 	Withholding and Crediting of Annual Deferral Amounts	 	10
	3.5	 	Annual Chief Executive Officer's Discretionary Bonus Amount	 	10
	3.6	 	Annual Restricted Stock Amount	 	10
	3.7	 	Annual Stock Option Gain Amount	 	10
	3.8	 	Vesting	 	10
	3.9	 	Crediting/Debiting of Account Balances	 	11
	3.10	 	FICA and Other Taxes	 	13
	ARTICLE 4	 	Deduction Limitation	 	13
	4.1	 	Deduction Limitation on Benefit Payments	 	13
	ARTICLE 5	 	In-Service Distribution; Unforeseeable Financial Emergencies; Withdrawal Election	 	14
	5.1	 	In-Service Distribution	 	14
	5.2	 	Other Benefits Take Precedence Over In-Service Distributions	 	14
	5.3	 	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies	 	14
	5.4	 	Withdrawal Election	 	15
	ARTICLE 6	 	Change In Control Benefit	 	15
	6.1	 	Change in Control Benefit	 	15
	6.2	 	Payment of Change in Control Benefit	 	15
	ARTICLE 7	 	Retirement Benefit	 	16
	7.1	 	Retirement Benefit	 	16
	7.2	 	Payment of Retirement Benefit	 	16
	ARTICLE 8	 	Termination Benefit	 	16
	8.1	 	Termination Benefit	 	16
	8.2	 	Payment of Termination Benefit	 	17
	ARTICLE 9	 	Disability Waiver and Benefit	 	17
	9.1	 	Disability Waiver	 	17
	9.2	 	Continued Eligibility; Disability Benefit	 	17
	ARTICLE 10	 	Survivor Benefit	 	18
	10.1	 	Survivor Benefit	 	18
	10.2	 	Payment of Survivor Benefit	 	18
	ARTICLE 11	 	Beneficiary Designation	 	18
	11.1	 	Beneficiary	 	18
	11.2	 	Beneficiary Designation; Change of Beneficiary Designation	 	19
	11.3	 	Acknowledgement	 	19
	11.4	 	No Beneficiary Designation	 	19
	11.5	 	Doubt as to Beneficiary	 	19
	11.6	 	Discharge of Obligations	 	19

i

 

	ARTICLE 12	 	Leave of Absence	 	19
	12.1  	 	Paid Leave of Absence	 	19
	12.2  	 	Unpaid Leave of Absence	 	19
	ARTICLE 13	 	Termination, Amendment or Modification	 	20
	13.1  	 	Termination	 	20
	13.2  	 	Amendment	 	20
	13.3  	 	Plan Agreement	 	21
	13.4  	 	Effect of Payment	 	21
	ARTICLE 14	 	Administration	 	21
	14.1  	 	Committee Duties	 	21
	14.2  	 	Administration Upon Change In Control	 	21
	14.3  	 	Agents	 	21
	14.4  	 	Binding Effect of Decisions	 	22
	14.5  	 	Indemnity of Committee	 	22
	14.6  	 	Employer Information	 	22
	ARTICLE 15	 	Other Benefits and Agreements	 	22
	15.1  	 	Coordination with Other Benefits	 	22
	ARTICLE 16	 	Claims Procedures	 	22
	16.1  	 	Presentation of Claim	 	22
	16.2  	 	Notification of Decision	 	22
	16.3  	 	Review of a Denied Claim	 	23
	16.4  	 	Decision on Review	 	23
	16.5  	 	Legal Action	 	23
	ARTICLE 17	 	Trust	 	24
	17.1  	 	Establishment of the Trust	 	24
	17.2  	 	Interrelationship of the Plan and the Trust	 	24
	17.3  	 	Distributions From the Trust	 	24
	ARTICLE 18	 	Miscellaneous	 	24
	18.1  	 	Status of Plan	 	24
	18.2  	 	Unsecured General Creditor	 	24
	18.3  	 	Employer's Liability	 	24
	18.4  	 	Nonassignability	 	24
	18.5  	 	Not a Contract of Employment	 	24
	18.6  	 	Furnishing Information	 	25
	18.7  	 	Terms	 	25
	18.8  	 	Captions	 	25
	18.9  	 	Governing Law	 	25
	18.10	 	Notice	 	25
	18.11	 	Successors	 	25
	18.12	 	Spouse's Interest	 	25
	18.13	 	Validity	 	25
	18.14	 	Incompetent	 	25
	18.15	 	Court Order	 	26
	18.16	 	Distribution in the Event of Taxation	 	26
	18.17	 	Insurance	 	26
	18.18	 	Legal Fees To Enforce Rights After Change in Control	 	27

ii

   CERTEGY INC.

DEFERRED COMPENSATION PLAN
  Effective January 1, 2003 

Purpose  

        The purpose of this Plan is to provide specified benefits to a select group of management or highly compensated Employees who contribute materially to the
continued growth, development and future business success of Certegy Inc., a Georgia corporation, and its subsidiaries, if any, that sponsor this Plan. This Plan shall be unfunded for tax
purposes and for purposes of Title I of ERISA. 

ARTICLE 1

Definitions  

        For the purposes of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings: 

	1.1
	"Account
Balance" shall mean, with respect to a Participant, a credit on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Chief
Executive Officer's Discretionary Bonus Account balance, (iii) the Restricted Stock Account balance, and (iv) the Stock Option Gain Account balance. The Account Balance, and each other
specified account balance, shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her
designated Beneficiary, pursuant to this Plan.

	1.2
	"Annual
Bonus" shall mean any compensation, in addition to Base Annual Salary, commissions and LTIP Amounts payable to a Participant during a Plan Year, under the Annual Incentive
Plan, or under any Employer's annual bonus and cash incentive plans, excluding stock options.

	1.3
	"Annual
Chief Executive Officer's Discretionary Bonus Amount" shall mean, for any one Plan Year, the amount determined in accordance with Section 3.5.

	1.4
	"Annual
Deferral Amount" shall mean that portion of a Participant's Base Annual Salary, Annual Bonus and LTIP Amounts that a Participant defers in accordance with Article 3 for
any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 9.1), death or a Termination of Employment prior to the end of a Plan
Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

	1.5
	"Annual
Installment Method" shall be an annual installment payment over the number of years selected by the Participant in accordance with this Plan, calculated as follows:
(a) for the first annual installment, the vested Account Balance of the Participant shall be calculated as of the close of business on or around the earlier of (i) the July 1
following the date on which the Participant Retires, or (ii) the January 1 following the date on which the Participant Retires, as determined by the Committee in its sole discretion, and
(b) for remaining annual installments, the vested Account Balance of the Participant shall be calculated on every anniversary of such calculation date, as applicable. Each annual installment
shall be calculated by multiplying this balance by a fraction, the numerator of which is one and the denominator of which is the remaining number of annual payments due the Participant. By way of
example, if the Participant elects a ten (10) year Annual Installment Method, the first payment shall be 1/10 of the vested Account Balance, calculated as described in this
definition. The following year, the payment shall be 1/9 of the vested Account Balance, calculated as described in this definition. Shares of Stock that shall be distributable from the
Stock Option Gain Account 

1

 

and
the Restricted Stock Account shall be distributable in shares of actual Stock in the same manner previously described. However, the Committee may, in its sole discretion, (i) adjust the
annual installments in order to distribute whole shares of actual Stock and/or (ii) accelerate the distribution of such actual shares of Stock by payment of a lump sum. 

	1.6
	"Annual
Restricted Stock Amount" shall mean, with respect to a Participant for any one Plan Year, the amount of Restricted Stock deferred in accordance with Section 3.6 of this
Plan, calculated using the closing price of Stock at the end of the business day closest to the date such Restricted Stock would otherwise vest, but for the election to defer. In the event of a
Participant's Retirement, Disability (if deferrals cease in accordance with Section 9.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Restricted
Stock Amount shall be the actual amount withheld prior to such event.

	1.7
	"Annual
Stock Option Gain Amount" shall mean, with respect to a Participant for any one Plan Year, the portion of Qualifying Gains deferred with respect to an Eligible Stock Option
exercise, in accordance with Section 3.7 of this Plan. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 9.1), death or a Termination
of Employment prior to the end of a Plan Year, such year's Annual Stock Option Gain Amount shall be the actual amount withheld prior to such event.

	1.8
	"Base
Annual Salary" shall mean the annual cash compensation relating to services performed during any calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock
options,
relocation expenses, incentive payments, non-monetary awards, director fees and other fees, and automobile and other allowances paid to a Participant for employment services rendered
(whether or not such allowances are included in the Employee's gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the
Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant's gross income under Code
Sections 125, 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that had there
been no such plan, the amount would have been payable in cash to the Employee.

	1.9
	"Beneficiary"
shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 11, that are entitled to receive benefits under this Plan
upon the death of a Participant.

	1.10
	"Beneficiary
Designation Form" shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to designate one or
more Beneficiaries.

	1.11
	"Board"
shall mean the board of directors of the Company.

	1.12
	"Change
in Control" shall mean the first to occur of any of the following events: 

	(a)
	The
accumulation by any Person of Beneficial Ownership of twenty percent (20%) or more of the combined voting power of the Company's Voting Stock; provided that for purposes of this
section 1.12(a), a Change in Control will not be deemed to have occurred if the accumulation of twenty percent (20%) or more of the voting power of the Company's Voting Stock results from any
acquisition of Voting Stock (i) directly from the Company that is approved by the Incumbent Board, (ii) by the Company, (iii) by any employee benefit plan (or related trust)
sponsored or maintained by the Company or any subsidiary of the Company, or (iv) by any Person pursuant to a Business Combination that complies with all of clauses (i), (ii) and
(iii) of 1.12(b), below; 

2

 

	(b)
	The
Consummation of a Business Combination, unless, immediately following that Business Combination, (i) all or substantially all of the Persons who were the beneficial owners
of Voting Stock of the Company immediately prior to that Business Combination beneficially own, directly or indirectly, more than sixty-six and two-thirds percent
(662/3%) of the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the
election of directors of the entity resulting from that Business Combination (including, without limitation, an entity that as a result of that transaction owns the Company or all or substantially all
of the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions relative to each other as their ownership, immediately prior to that Business
Combination, of the Voting Stock of the Company, (ii) no Person (other than the Company, that entity resulting from that Business Combination, or any employee benefit plan (or related trust)
sponsored or maintained by the Company, any Eighty Percent (80%) Subsidiary or that entity resulting from that Business Combination) beneficially owns, directly or indirectly, twenty percent (20%) or
more of the then outstanding shares of common stock of the entity resulting from that Business Combination or the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors of that entity, and (iii) at least a majority of the members of the board of directors of the entity resulting from that Business Combination were members
of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for that Business Combination;

	(c)
	A
sale or other disposition of all or substantially all of the assets of the Company; or

	(d)
	Approval
by the shareholders of the Company of a complete liquidation or dissolution of the Company, except pursuant to a Business Combination that complies with all of clauses (i),
(ii) and (iii) of 1.12(b), above. 

        Solely
for purposes of section 1.12, the following definitions will apply: 

	(1)
	"Beneficial
Ownership" means beneficial ownership as that term is used in Rule 13(d)(3) promulgated under the Exchange Act.

	(2)
	"Business
Combination" means a reorganization, merger or consolidation of the Company.

	(3)
	"Eighty
Percent (80%) Subsidiary" means an entity in which the Company directly or indirectly beneficially owns eighty percent (80%) or more of the outstanding Voting Stock.

	(4)
	"Exchange
Act" means the Securities Exchange Act of 1934, including amendments, or successor statutes of similar intent.

	(5)
	"Incumbent
Board" means a board of directors, at least a majority of whom consist of individuals who either are (a) members of the Board as of the effective date of this Plan
or (b) become members of the Board subsequent to the effective date of this Plan and whose election, or nomination for election, by the Company's shareholders was approved by a vote of at least
two-thirds (2/3) of the directors then
comprising the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which that person is named as a nominee for director, without objection to that
nomination), but excluding, for that purpose, any individual whose initial assumption of office occurs as a result of an actual or threatened election contest (within the meaning of
Rule 14a-11 of the Exchange Act) with respect to the election or removal of directors or other actual or 

3

 

threatened
solicitation of proxies or consents by or on behalf of a Person other than the board of directors. 

	(6)
	"Person"
means any individual, entity or group (within the meaning of Section 13(d)(3) or 14 (d)(2) of the Exchange Act).

	(7)
	"Voting
Stock" means the then outstanding securities of an entity entitled to vote generally in the election of members of that entity's board of directors. 

	1.13
	"Change
in Control Benefit" shall have the meaning set forth in Article 6.

	1.14
	"Chief
Executive Officer's Discretionary Bonus Account" shall mean (i) the sum of the Participant's Annual Chief Executive Officer's Discretionary Bonus Amounts, plus
(ii) amounts credited or debited in accordance with all the applicable crediting and debiting provisions of this Plan that relate to the Participant's Chief Executive Officer's Discretionary
Bonus Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Chief Executive Officer's Discretionary
Bonus Account.

	1.15
	"Claimant"
shall have the meaning set forth in Section 16.1.

	1.16
	"Code"
shall mean the Internal Revenue Code of 1986, as it may be amended from time to time.

	1.17
	"Committee"
shall mean the committee described in Article 14.

	1.18
	"Company"
shall mean Certegy Inc., a Georgia corporation, and any successor to all or substantially all of the Company's assets or business.

	1.19
	"Deduction
Limitation" shall mean the limitation on a benefit that may otherwise be distributable pursuant to the provisions of this Plan, as set forth in Article 4.

	1.20
	"Deferral
Account" shall mean (i) the sum of all of a Participant's Annual Deferral Amounts, plus (ii) amounts credited in accordance with all the applicable crediting
and debiting provisions of this Plan that relate to the Participant's Deferral Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that
relate to his or her Deferral Account.

	1.21
	"Disability"
or "Disabled" shall mean a determination that a Participant is disabled made by either (i) the carrier of any individual or group disability insurance policy,
sponsored by the Participant's Employer, or (ii) the Social Security Administration. Upon request by the Employer, the Participant must submit proof of the carrier's or Social Security
Administration's determination.

	1.22
	"Disability
Benefit" shall mean the benefit set forth in Article 9.

	1.23
	"Election
Form" shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the
Plan.

	1.24
	"Eligible
Stock Option" shall mean one or more non-qualified stock option(s) (including incentive stock options disqualified as such and treated as
non-qualified options) selected by the Committee in its sole discretion and exercisable under a plan or arrangement of Certegy Inc. or any Employer, which permits a Participant
under this Plan to defer gain with respect to such option.

	1.25
	"Employee"
shall mean a person who is an employee of any Employer. 

4

 

	1.26
	"Employer(s)"
shall mean the Company and/or any of its subsidiaries (now in existence or hereafter formed or acquired) that have been selected by the Board to participate in the Plan
and have adopted the Plan as a sponsor.

	1.27
	"ERISA"
shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time.

	1.28
	"In-Service
Distribution" shall mean the distribution set forth in Section 5.1.

	1.29
	"LTIP
Amounts" shall mean any compensation payable, whether in the form of Stock or cash, to a Participant as an Employee under the Cash Long-Term Incentive Plan, or
under any Employer's long-term incentive plan or any other long-term incentive arrangement designated by the Committee.

	1.30
	"Participant"
shall mean any Employee (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who signs a Plan
Agreement, an Election Form and a Beneficiary Designation Form, (iv) whose signed Plan Agreement, Election Form and Beneficiary Designation Form are accepted by the Committee, (v) who
commences participation in the Plan, and (vi) whose Plan Agreement has not terminated. A spouse or former spouse of a Participant shall not be treated as a Participant in the Plan or have an
account balance under the Plan, even if he or she has an interest in the Participant's benefits under the Plan as a result of applicable law or property settlements resulting from legal separation or
divorce.

	1.31
	"Plan"
shall mean the Certegy Inc. Deferred Compensation Plan, which shall be evidenced by this instrument and by each Plan Agreement, as they may be amended from time to
time.

	1.32
	"Plan
Agreement" shall mean a written agreement, as may be amended from time to time, which is entered into by and between an Employer and a Participant. Each Plan Agreement executed
by a Participant and the Participant's Employer shall provide for the entire benefit to which such Participant is entitled under the Plan; should there be more than one Plan Agreement, the Plan
Agreement bearing the latest date of acceptance by the Employer shall supersede all previous Plan Agreements in their entirety and shall govern such entitlement. The terms of any Plan Agreement may be
different for any Participant, and any Plan Agreement may provide additional benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan; provided, however, that any
such additional benefits or benefit limitations must be agreed to by both the Employer and the Participant.

	1.33
	"Plan
Year" shall mean a period beginning on January 1 of each calendar year and continuing through December 31 of such calendar year.

	1.34
	"Qualifying
Gain" shall mean the incremental value inuring to a Participant upon the exercise of an Eligible Stock Option, using a Stock-for-Stock payment
method, during any Plan Year. For purposes of this section, the phrase "Stock-for-Stock payment method" shall, in all events, be limited to the Participant's delivery of a
properly executed statement in which he or she attests to ownership of the number of shares required to exercise the Eligible Stock Option, rather than actual delivery of such shares. Such incremental
value shall be deliverable to the Participant in the form of additional shares of Stock and shall be computed as follows: (i) the total fair market value of the shares of Stock held/acquired as
a result of the exercise of an Eligible Stock Option using a Stock-for-Stock payment method, minus (ii) the total exercise price. For example, assume a Participant
elects to exercise an Eligible Stock Option to purchase 1,000 shares of Stock at an exercise price of $20 per share (i.e., a
total exercise price of $20,000), when the Stock has a current fair market value of $25 per share (i.e., a total current fair market value of $25,000) and elects to defer one hundred
(100) percent of the Qualifying Gain (i.e., $5,000). Using the Stock-for-Stock payment method, the Participant 

5

 

would
deliver a properly executed statement attesting to ownership of 800 shares of Stock (worth $20,000 at exercise) to exercise the Eligible Stock Option and would receive, in return, a Qualifying
Gain, in the form of an unfunded and unsecured promise by the Company for 200 shares of Stock in the future (worth $5,000 at exercise). The number of additional shares of Stock deliverable to the
Participant in the future as a result of the Qualifying Gain shall be fixed and determined as of the date of the exercise of the Eligible Stock Option using the closing price of the Stock as of the
end of the business day closest to the date of such exercise. 

	1.35
	Restricted
Stock" shall mean rights to receive unvested shares of restricted stock selected by the Committee in its sole discretion and awarded to the Participant under any
Certegy Inc. stock incentive plan.

	1.36
	"Restricted
Stock Account" shall mean the aggregate value, measured on any given date, of (i) the number of shares of Restricted Stock deferred by a Participant as a result of
all Annual Restricted Stock Amounts, plus, less (ii) the number of shares of Restricted Stock previously distributed to the Participant or his or her Beneficiary pursuant to this Plan, subject
in each case to any adjustments to the number of such shares determined by the Committee with respect to the Certegy Inc. Stock Unit Fund pursuant to Section 3.9. This portion of the
Participant's Account Balance shall only be distributable in actual shares of Stock.

	1.37
	"Retirement",
"Retire(s)" or "Retired" shall mean, with respect to an Employee, severance from employment from all Employers for any reason other than a leave of absence, death or
Disability on or after the earlier of the attainment of (a) age sixty-five (65), (b) age fifty-five (55) with five (5) Years of Service, or
(c) age fifty (50), provided the sum of such Participant's age and Years of Service equals or exceeds seventy-five (75). Notwithstanding the preceding sentence, if a Participant's
employment terminates, and such Participant is not otherwise eligible to Retire, the Committee may, in its sole discretion, deem such Participant to have Retired for purposes of this Plan.

	1.38
	"Retirement
Benefit" shall mean the benefit set forth in Article 7.

	1.39
	"Stock"
shall mean Certegy Inc. common stock, $.01 par value, or any other equity securities of the Company designated by the Committee.

	1.40
	"Stock
Option Gain Account" shall mean the aggregate value, measured on any given date, of (i) the number of shares of Stock deferred by a Participant as a result of all
Annual Stock Option Gain Amounts, less (ii) the number of such shares of Stock previously distributed to the Participant or his or
her Beneficiary pursuant to this Plan, subject in each case to any adjustments to the number of such shares determined by the Committee with respect to the Certegy Inc. Stock Unit Fund pursuant
to Section 3.9. This portion of the Participant's Account Balance shall only be distributable in actual shares of Stock.

	1.41
	"Survivor
Benefit" shall mean the benefit set forth in Article 10.

	1.42
	"Termination
Benefit" shall mean the benefit set forth in Article 8.

	1.43
	"Termination
of Employment" shall mean the severing of employment with all Employers, voluntarily or involuntarily, for any reason other than Retirement, Disability, death or an
authorized leave of absence.

	1.44
	"Trust"
shall mean one or more trusts established pursuant to that certain trust agreement, between the Company and the trustee named therein, as amended from time to time.

	1.45
	"Unforeseeable
Financial Emergency" shall mean an unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe financial 

6

 

hardship
to the Participant resulting from (i) a sudden and unexpected illness or accident of the Participant or a dependent of the Participant, (ii) a loss of the Participant's
property due to casualty, or (iii) such other extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole
discretion of the Committee. 

	1.46
	"Years
of Service" shall mean the sum of (i) the total number of full years in which a Participant has been employed by one or more Employers, and (ii) the total number
of full years in which a Participant was employed by Equifax Inc. For purposes of this definition, a year of employment shall be a 365 day period (or 366 day period in the case of
a leap year) that, for the first year of employment, commences on the Employee's date of hiring and that, for any subsequent year, commences on an anniversary of that hiring date. The Committee shall
make a determination as to whether any partial year of employment shall be counted as a Year of Service. 

ARTICLE 2

Selection, Enrollment, Eligibility  

	2.1
	Selection by Committee. Participation in the Plan shall be limited to a select group of management and highly compensated Employees, as
determined by the Committee in its sole discretion. From that group, the Committee shall select, in its sole discretion, Employees to participate in the Plan.

	2.2
	Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return to the Committee a
Plan Agreement, an Election Form and a Beneficiary Designation Form, all within thirty (30) days after he or she is selected to participate in the Plan. In addition, the Committee shall
establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary.

	2.3
	Eligibility; Commencement of Participation. Provided an Employee selected to participate in the Plan has met all enrollment
requirements set forth in this Plan and required by the Committee, including returning all required documents to the Committee within the specified time period, that Employee shall commence
participation in the Plan on the first day of the month following the month in which the Employee completes all enrollment requirements. If an Employee fails to meet all such requirements within the
period required, in accordance with Section 2.2, that Employee shall not be eligible to participate in the Plan until the first day of the Plan Year following the delivery to and acceptance by
the Committee of the required documents.

	2.4
	Termination of Participation and/or Deferrals. If the Committee determines in good faith that a Participant no longer qualifies as a
member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Committee
shall have the right, in its sole discretion, to (i) terminate any deferral election the Participant has made for the remainder of the Plan Year in which the Participant's membership status
changes, (ii) prevent the Participant from making future deferral elections and/or (iii) immediately distribute the Participant's then vested Account Balance as a Termination Benefit and
terminate the Participant's participation in the Plan. 

ARTICLE 3

Deferral Commitments/Chief Executive Officer's Discretionary Bonus Amounts/

/Restricted Stock Amounts/Stock Option Gain Amounts/Vesting/Crediting/Taxes  

	3.1
	Minimum Deferrals. 

7

 

	(a)
	Annual Deferral Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Base Annual Salary,
Annual Bonus and/or LTIP Amounts in the following minimum amounts for each deferral elected: 

	Deferral
	 	Minimum Amount

	Base Annual Salary, Annual Bonus and/or LTIP Amounts	 	$5,000 aggregate

If
an election is made for less than the stated minimum amounts, or if no election is made, the amount deferred shall be zero. 

	(b)
	Annual Restricted Stock Amount. For each grant of Restricted Stock, a Participant may elect to defer, as his or her Annual Restricted
Stock Amount, Restricted Stock in the following minimum amount: 

	Deferral
	 	Minimum Percentage
	 
	Restricted Stock	 	0	%

If
no election is made, the amount deferred shall be zero. 

	(c)
	Annual Stock Option Gain Amount. For each Eligible Stock Option, a Participant may elect to defer, as his or her Annual Stock Option
Gain Amount, the following minimum percentage of Qualifying Gain with respect to exercise of the Eligible Stock Option: 

	Deferral
	 	Minimum Percentage
	 
	Qualifying Gain	 	0	%

If
no election is made, the amount deferred shall be zero. 

	(d)
	Short Plan Year. Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan
Year, the minimum Annual Deferral Amount shall be an amount equal to the minimum set forth above, multiplied by a fraction, the numerator of which is
the number of complete months remaining in the Plan Year and the denominator of which is 12. 

	3.2
	Maximum Deferral.

	(a)
	Annual Deferral Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Base Annual Salary,
Annual Bonus and/or LTIP Amounts up to the following maximum percentages for each deferral elected: 

	Deferral
	 	Maximum Amount
	 
	Base Annual Salary	 	90	%
	Annual Bonus	 	100	%
	LTIP Amounts	 	100	%

	(b)
	Annual Restricted Stock Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Restricted Stock Amount,
Restricted Stock in the following maximum percentage: 

	Deferral
	 	Maximum Percentage
	 
	Restricted Stock	 	100	%

	(c)
	Annual Stock Option Gain Amount. For each Eligible Stock Option, a Participant may elect to defer, as his or her Annual Stock Option
Gain Amount, Qualifying Gain up to the following maximum percentage with respect to exercise of the Eligible Stock Option: 

	Deferral
	 	Maximum Percentage
	 
	Qualifying Gain	 	100	%

8

 

Annual
Stock Option Gain Amounts may also be limited by other terms or conditions set forth in the stock option plan or agreement under which such options are granted. 

	(d)
	Short Plan Year. Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan Year, the
maximum Annual Deferral Amount (i) with respect to Base Annual Salary shall be limited to the amount of compensation not yet earned by the Participant as of the date the Participant submits a
Plan Agreement and Election Form to the Committee for acceptance, and (ii) with respect to Annual Bonus and LTIP Amounts shall be limited to those amounts deemed eligible for deferral, in the
sole discretion of the Committee. 

	3.3
	Election to Defer; Effect of Election Form. 

	(a)
	First Plan Year. In connection with a Participant's commencement of participation in the Plan, the Participant shall make an
irrevocable deferral election for the Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Committee deems necessary or desirable under the
Plan. For these elections to be valid, the Election Form must be completed and signed by the Participant, timely delivered to the Committee (in accordance with Section 2.2 above) and accepted
by the Committee.

	(b)
	Subsequent Plan Years. For each succeeding Plan Year, an irrevocable deferral election for that Plan Year, and such other elections as
the Committee deems necessary or desirable under the Plan, shall be made by timely delivering a new Election Form to the Committee, in accordance with its rules and procedures, before the end of the
Plan Year preceding the Plan Year for which the election is made. If no such Election Form is timely delivered for a Plan Year, the Annual Deferral Amount shall be zero for that Plan Year.

	(c)
	Restricted Stock Deferral. For an election to defer Restricted Stock to be valid: (i) a separate irrevocable Election Form must
be completed and signed by the Participant, with respect to such Restricted Stock; and (ii) such Election Form must be timely delivered to the Committee and accepted by the Committee at least
six (6) months prior to the date such Restricted Stock vests under the terms of the Certegy Inc. stock incentive plan.

	(d)
	Stock Option Gain Deferral. 

	(i)
	For
an election to defer gain upon the exercise of an Eligible Stock Option exercise to be valid: (i) a separate Election Form must be completed
and signed by the Participant with respect to the Eligible Stock Option; (ii) such election must be irrevocable; (iii) the executed Election Form must be timely delivered to the
Committee or its designee at least six (6) months prior to the date the Participant elects to exercise the Eligible Stock Option; (iv) the Participant must agree not to exercise the
Eligible Stock Option prior to six (6) months from the date the executed, irrevocable Election Form is submitted to the Committee or its designee; (v) the Eligible Stock Option must be
exercised using the "Stock-for-Stock payment method"; and (vi) the Stock constructively delivered by the Participant to exercise the Eligible Stock Option must have been
owned by the Participant during the entire six (6) month period prior to its delivery and/or otherwise qualify the Eligible Stock Option for favorable accounting treatment, as determined in the
sole discretion of the Committee.

	(ii)
	Notwithstanding
any other provision of this Plan to the contrary, (i) an Eligible Stock Option may be exercised prior to the end of the six
(6) month period following the date on which the executed Election Form is delivered to the Committee or its designee, and (ii) the resulting Qualifying Gain will not be deferred into
this Plan, if (a) a Change in Control occurs, or (b) the Participant Retires, dies while an Employee, or experiences a Termination of Employment, and the Eligible Stock Option would
otherwise expire prior 

9

 

to
the end of the six (6) month period following the date on which the executed Election Form was delivered to the Committee or its designee. 

	3.4
	Withholding and Crediting of Annual Deferral Amounts. For each Plan Year, the Base Annual Salary portion of the Annual Deferral Amount
shall be withheld from each regularly scheduled Base Annual Salary payroll in equal amounts, as adjusted from time to time for increases and decreases in Base Annual Salary. The Annual Bonus and/or
LTIP Amounts portion of the Annual Deferral Amount shall be withheld at the time the Annual Bonus or LTIP Amounts are or otherwise would be paid to the Participant, whether or not this occurs during
the Plan Year itself. Annual Deferral Amounts shall be credited to a Participant's Deferral Account at the time such amounts would otherwise have been paid to the Participant.

	3.5
	Annual Chief Executive Officer's Discretionary Bonus Amount. 

	(a)
	For
each Plan Year, an Employer may be required to credit amounts to a Participant's Chief Executive Officer's Discretionary Bonus Account in accordance with employment or other
agreements entered into between the Participant and the Employer. Such amounts shall be credited on the date or dates prescribed by such agreements.

	(b)
	For
each Plan Year, the Chief Executive Officer ("CEO") of the Company may, but is not required to, credit any amount of cash he or she desires to any Participant's Chief Executive
Officer's Discretionary Bonus Account under this Plan, which amount shall be for that Participant the Annual Chief Executive Officer's Discretionary Bonus Amount for that Plan Year. The amount so
credited to a Participant may be smaller or larger than the amount credited to any other Participant, and the amount credited to any Participant for a Plan Year may be zero, even though one or more
other Participants receive an Annual Chief Executive Officer's Discretionary Bonus Amount for that Plan Year. The Annual Chief Executive Officer's Discretionary Bonus Amount described in this
Section 3.5(b), if any, shall be credited on a date or dates to be determined by the Committee, in its sole discretion. 

	3.6
	Annual Restricted Stock Amount. Subject to any terms and conditions imposed by the Committee, Participants may elect to defer, under
the Plan, Restricted Stock, which amount shall be for that Participant the Annual Restricted Stock Amount for that Plan Year. The portion of any Restricted Stock deferred shall, at the time the
Restricted Stock would otherwise vest under the terms of the Certegy Inc. stock incentive plan, but for the election to defer, be reflected on the books of the Company as an unfunded, unsecured
promise to deliver to the Participant a specific number of actual shares of Stock in the future.

	3.7
	Annual Stock Option Gain Amount. Subject to any terms and conditions imposed by the Committee, Participants may elect to defer, under
the Plan, all or some portion of Qualifying Gains attributable to an Eligible Stock Option exercise, which amount shall be for that Participant the Annual Stock Option Gain Amount for that Plan Year.
The portion of any Qualifying Gains shall be reflected on the books of the Company as an unfunded, unsecured promise to deliver to the Participant a specific number of actual shares of Stock in the
future. Such shares of Stock would otherwise have been delivered to the Participant, pursuant to the Eligible Stock Option exercise, but for the Participant's election to defer.

	3.8
	Vesting. 

	(a)
	A
Participant shall at all times be 100% vested in his or her Deferral Account, Restricted Stock Account and Stock Option Gain Account.

	(b)
	A
Participant shall be vested in his or her Chief Executive Officer's Discretionary Bonus Account in accordance with the vesting schedule(s) set forth in his or her Plan Agreement,
employment agreement or any other agreement entered into between the Participant and his 

10

 

or
her Employer. If not addressed in such agreements, a Participant shall vest in his or her Chief Executive Officer's Discretionary Bonus Account in accordance with the schedule declared by the
Committee in its sole discretion. 

	(c)
	Notwithstanding
anything to the contrary contained in this Section 3.8, in the event of a Change in Control, or upon a Participant's Retirement, death while employed by an
Employer, or Disability, a Participant's Chief Executive Officer's Discretionary Bonus Account shall immediately become 100% vested (if it is not already vested in accordance with the above vesting
schedules).

	(d)
	Notwithstanding
subsection 3.8(c) above, the vesting schedule for a Participant's Chief Executive Officer's Discretionary Bonus Account shall not be accelerated to the extent that the
Committee determines that such acceleration would cause the deduction limitations of Section 280G of the Code to become effective. In the event that all of a Participant's Chief Executive
Officer's Discretionary Bonus Account is not vested pursuant to such a determination, the Participant may request independent verification of the Committee's calculations with respect to the
application of Section 280G. In such case, the Committee must provide to the Participant within ninety (90) days of such a request an opinion from a nationally recognized accounting firm
selected by the Participant (the "Accounting Firm"). The opinion shall state the Accounting Firm's opinion that any limitation in the vested percentage hereunder is necessary to avoid the limits of
Section 280G and contain supporting calculations. The cost of such opinion shall be paid for by the Company.

	(e)
	Section 3.8(d)
shall not prevent the acceleration of the vesting schedule applicable to a Participant's Chief Executive Officer's Discretionary Bonus Account if such
Participant is entitled to a "gross-up" payment, to eliminate the effect of the Code section 4999 excise tax, pursuant to his or her employment agreement or other agreement entered
into between such Participant and the Employer. 

	3.9
	Crediting/Debiting of Account Balances. In accordance with, and subject to, the rules and procedures that are established from time to
time by the Committee, in its sole discretion, amounts shall be credited or debited to a Participant's Account Balance in accordance with the following rules: 

	(a)
	Measurement Funds. Subject to the restrictions found in Section 3.9(c), below, the Participant may elect one or more of the
measurement funds selected by the Committee, in its sole discretion, which are based on certain mutual funds (the "Measurement Funds"), for the purpose of crediting or debiting additional amounts to
his or her Account Balance. As necessary, the Committee may, in its sole discretion, discontinue, substitute or add a Measurement Fund. Each such action will take effect as of the first day of the
first calendar quarter that begins at least thirty (30) days after the day on which the Committee gives Participants advance written notice of such change.

	(b)
	Election of Measurement Funds. Subject to the restrictions found in Section 3.9(c) below, a Participant, in connection with his
or her initial deferral election in accordance with Section 3.3(a) above, shall elect, on the Election Form, one or more Measurement Fund(s) (as described in Section 3.9(a) above) to be
used to determine the amounts to be credited or debited to his or her Account Balance. If a
Participant does not elect any of the Measurement Funds as described in the previous sentence, the Participant's Account Balance shall automatically be allocated into the lowest-risk
Measurement Fund, as determined by the Committee, in its sole discretion. Subject to the restrictions found in Section 3.9(c) below, the Participant may (but is not required to) elect, by
submitting an Election Form to the Committee that is accepted by the Committee, to add or delete, on a daily basis, one or more Measurement Fund(s) to be used to determine the amounts to be credited
or debited to his or her Account Balance, or to change the portion of his or her Account Balance allocated to 

11

 

each
previously or newly elected Measurement Fund. If an election is made in accordance with the previous sentence, it shall apply as of the first business day deemed reasonably practicable by the
Committee, in its sole discretion, and shall continue thereafter for each subsequent day in which the Participant participates in the Plan, unless changed in accordance with the previous sentence. 

	(c)
	Certegy Inc. Stock Unit Fund. 

	(i)
	A
Participant's Restricted Stock Account, Stock Option Gain Account and those LTIP Amounts that are payable in Stock will be automatically allocated to
the Certegy Inc. Stock Unit Fund Measurement Fund. Participants may not select any other Measurement Fund to be used to determine the amounts to be credited or debited to their Restricted Stock
Account, Stock Option Gain Account or those LTIP Amounts that are payable in Stock. Furthermore, no other portion of the Participant's Account Balance can be either initially allocated or
re-allocated to the Certegy Inc. Stock Unit Fund. Notwithstanding the preceding sentence, the Committee may postpone any transfer which would otherwise be made in a period in which
the Participant would be prohibited (by Company policy or otherwise) from acquiring or disposing of equity securities of the Company until after such period has
expired.

	(ii)
	The
number of shares of Stock credited to the Participant's Account Balance may be adjusted by the Committee, in its sole discretion, to prevent
dilution or enlargement of Participants' rights with respect to the portion of his or her Account Balance allocated to the Certegy Inc. Stock Unit Fund, in the event of any reorganization,
reclassification, stock split, or other unusual corporate transaction or event which affects the value of the Stock, provided that any such adjustment shall be made taking into account any crediting
of shares of Stock to the Participant under Section 3.9.

	(iii)
	For
purposes of this Section 3.9(c), the fair market value of the Stock shall be determined by the Committee in its sole discretion. 

	(d)
	Proportionate Allocation. In making any election described in Section 3.9(b) above, the Participant shall specify on the
Election Form, in increments of one percent (1%), the percentage of his or her
Account Balance to be allocated to a Measurement Fund (as if the Participant was making an investment in that Measurement Fund with that portion of his or her Account Balance).

	(e)
	Crediting or Debiting Method. The performance of each Measurement Fund (either positive or negative) will be determined by the
Committee, in its sole discretion. A Participant's Account Balance shall be credited or debited on a daily basis based on the manner in which such Participant's Account Balance has been actually
allocated among the Measurement Funds.

	(f)
	No Actual Investment. Notwithstanding any other provision of this Plan that may be interpreted to the contrary, the Measurement Funds
are to be used for measurement purposes only, and a Participant's election of any such Measurement Fund, the allocation to his or her Account Balance thereto, the calculation of additional amounts and
the crediting or debiting of such amounts to a Participant's Account Balance shall not be considered or construed in any manner as an actual investment of his or her Account Balance in any such
Measurement Fund. In the event that the Company or the Trustee (as that term is defined in the Trust), in its own discretion, decides to invest funds in any or all of the investments on which the
Measurement Funds are based, no Participant shall have any rights in or to such investments themselves. Without limiting the foregoing, a Participant's Account Balance shall at all times be a
bookkeeping entry only and shall not represent any investment made on his or her behalf 

12

 

by
the Company or the Trust; the Participant shall at all times remain an unsecured creditor of the Company. 

	3.10
	FICA and Other Taxes. 

	(a)
	Annual Deferral Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant, the Participant's
Employer(s) shall withhold from that portion of the Participant's Base Annual Salary, Annual Bonus and LTIP Amounts that are not being deferred, in a manner determined by the Employer(s), the
Participant's share of FICA and other employment taxes on such Annual Deferral Amount. If necessary, the Committee may reduce the Annual Deferral Amount in order to comply with this
Section 3.10.

	(b)
	Chief Executive Officer's Discretionary Bonus Account. When a Participant becomes vested in a portion of his or her Chief Executive
Officer's Discretionary Bonus Account, the Participant's Employer(s) shall withhold from the Participant's Base Annual Salary, Annual Bonus and/or LTIP Amounts that are not deferred, in a manner
determined by the Employer(s), the Participant's share of FICA and other employment taxes. If necessary, the Committee may reduce the vested portion of the Participant's Chief Executive Officer's
Discretionary Bonus Account, as applicable, in order to comply with this Section 3.10.

	(c)
	Annual Restricted Stock Amounts and Annual Stock Option Gain Amounts. For each Plan Year in which an Annual Restricted Stock Amount or
Annual Stock Option Gain Amount is being first withheld from a Participant, the Participant's Employer(s) shall withhold from that portion of the Participant's Base Annual Salary, Annual Bonus, LTIP
Amounts, Restricted Stock and Qualifying Gains that are not being deferred, in a manner determined by the Employer(s), the Participant's share of FICA and other employment taxes on such Annual Stock
Option Gain Amount or Annual Restricted Stock Amount. If necessary, the Committee may reduce the Annual Stock Option Gain Amount or the Annual Restricted Stock Amount in order to comply with this
Section 3.10.

	(d)
	Distributions. The Participant's Employer(s), or the trustee of the Trust, shall withhold from any payments made to a Participant under
this Plan all federal, state and local income, employment and other taxes required to be withheld by the Employer(s), or the trustee of the Trust, in connection with such payments, in amounts and in a
manner to be determined in the sole discretion of the Employer(s) and the trustee of the Trust. 

ARTICLE 4

Deduction Limitation  

	4.1
	Deduction Limitation on Benefit Payments. If an Employer determines in good faith prior to a Change in Control that there is a
reasonable likelihood that any compensation paid to a Participant for a taxable year of the Employer would not be deductible by the Employer solely by reason of the limitation under Code
Section 162(m), then to the extent deemed necessary by the Employer to ensure that the entire amount of any distribution to the Participant pursuant to this Plan prior to the Change in Control
is deductible, the Employer may defer all or any portion of a distribution under this Plan. Any amounts deferred pursuant to this limitation shall continue to be credited/debited with additional
amounts in accordance with Section 3.9 above, even if such amount is being paid out in installments. The amounts so deferred and amounts credited thereon shall be distributed to the Participant
or his or her Beneficiary (in the event of the Participant's death) at the earliest possible date, as determined by the Employer in good faith, on which the deductibility of compensation paid or
payable to the Participant for the taxable year of the Employer during which the distribution is made will not be limited by Section 162(m), or if earlier, the effective date of a Change in
Control. Notwithstanding anything to the contrary in this Plan, the Deduction Limitation shall not apply to any distributions made after a Change in Control. 

13

   ARTICLE 5

In-Service Distribution; Unforeseeable Financial Emergencies; Withdrawal Election  

	5.1
	In-Service Distribution. In connection with each election to defer an amounts into this Plan, a Participant may irrevocably
elect to receive an In-Service Distribution from the Plan with respect to all or a portion of (i) his or her deferrals of Base Annual Salary, Annual Bonus and LTIP Amounts payable
in cash, (collectively referred to as "Annual Cash Deferral Amounts"), and (ii) the Annual Chief Executive Officer's Discretionary Bonus Amount. The In-Service Distribution shall be
a lump sum payment in an amount that is equal to the portion of the Annual Cash Deferral Amount and the vested portion of the Annual Chief Executive Officer's Discretionary Bonus Amount that the
Participant elected to have distributed as an In-Service Distribution, plus amounts credited or debited in the manner provided in Section 3.9 above on that amount, calculated as of
the close of business on or around the date on which the In-Service Distribution becomes payable, as determined by the Committee in its sole discretion. Subject to the other terms and
conditions of this Plan, each In-Service Distribution elected shall be paid out during a sixty (60) day period commencing immediately after the first day of any Plan Year designated
by the Participant. The Plan Year designated by the Participant must be at least three Plan Years after the end of the Plan Year in which the Annual Cash Deferral Amount is actually deferred, or the
vested portion of the Annual Chief Executive Officer's Discretionary Bonus Amount is actually contributed. By way of example, if an In-Service Distribution is elected for Annual Cash
Deferral Amounts that are deferred in the Plan Year commencing January 1, 2003, the In-Service Distribution would become payable during a sixty (60) day period commencing
January 1, 2007. Notwithstanding the language set forth above, the Committee shall, in its sole discretion, adjust the amount distributable as an In-Service Distribution if any
portion of the Annual Chief Executive Officer's Discretionary Bonus Amount is unvested on the In-Service Distribution Date.

	5.2
	Other Benefits Take Precedence Over In-Service Distributions. Should an event occur that triggers a benefit under Sections
5.3 or 5.4, or Articles 6, 7, 8, 9 or 10, any Annual Cash Deferral Amount and/or Chief Executive Officer's Discretionary Bonus Amount, plus amounts credited or debited thereon, that are subject to an
In-Service Distribution election under Section 5.1 shall not be paid in accordance with Section 5.1, but shall be paid in accordance with the other applicable Section or
Article.

	5.3
	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. If the Participant experiences an Unforeseeable Financial
Emergency, the Participant may petition the Committee (i) to suspend deferrals of Base Annual Salary, Annual Bonus, LTIP Amounts, Restricted Stock and Qualifying Gains required to be made by
such Participant, to the extent deemed necessary by the Committee to satisfy
the Unforeseeable Financial Emergency, or (ii) to suspend deferrals of Base Annual Salary, Annual Bonus, LTIP Amounts, Restricted Stock and Qualifying Gains required to be made by such
Participant, to the extent deemed necessary by the Committee to satisfy the Unforeseeable Financial Emergency, and receive a partial or full payout from the Plan. The payout shall not exceed the
lesser of the Participant's vested Account Balance, excluding the portion of the Account Balance, which has been irrevocably allocated to the Certegy Inc. Stock Unit Fund, calculated as if such
Participant were receiving a Termination Benefit, or the amount reasonably needed to satisfy the Unforeseeable Financial Emergency. A Participant may not receive a payout from the Plan to the extent
that the Unforeseeable Financial Emergency is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant's assets, to
the extent the liquidation of such assets would not itself cause severe financial hardship or (iii) by suspension of deferrals under this Plan. 

If
the Committee, in its sole discretion, approves a Participant's petition for suspension, the Participant's deferrals under this Plan shall be suspended as of the date of such approval. If the
Committee, in its sole discretion, approves a Participant's petition for suspension and payout, the 

14

 

Participant's deferrals under this Plan shall be suspended as of the date of such approval and the Participant shall receive a payout from the Plan no later than sixty (60) days after the
earlier of the (i) July 1 following the date of such approval, or (ii) January 1 following the date of such approval, as determined by the Committee in its sole discretion. 

	5.4
	Withdrawal Election. A Participant may elect, at any time, to withdraw all or a portion of his or her vested Account Balance, excluding
the portion of the Account Balance which has been irrevocably allocated to the Certegy Inc. Stock Unit Fund. For purposes of this Section 5.4, the value of a Participant's vested Account
Balance, excluding the portion of the Account Balance which has been irrevocably allocated to the Certegy Inc. Stock Unit Fund, shall be calculated as of the close of business on or around the
earlier of the (i) July 1 following the date on which receipt of the Participant's election is acknowledged by the Committee, or (ii) January 1 following the date on which
receipt of the Participant's election is acknowledged by the Committee, as determined by the Committee in its sole discretion, less a withdrawal penalty equal to 10% of the amount withdrawn (the net
amount shall be referred to as the "Withdrawal Amount"). This election can be made at any time, before or after Retirement or Disability, and whether or not the Participant is in the process of being
paid pursuant to an installment payment schedule. The Participant shall make this election by giving the Committee advance written notice of the election in a form determined from time to time by the
Committee. The Participant shall be paid the Withdrawal Amount no later than sixty (60) days after the earlier of the (i) July 1 following the date of his or her election, or
(ii) January 1 following the date of his or her election, as determined by the Committee in its sole discretion. Once the Withdrawal Amount is paid, the Participant's participation in
the Plan shall be suspended for the remainder of the Plan Year in which the withdrawal is elected and for one (1) full Plan Year thereafter (the "Suspension Period"). During the Suspension
Period, the Participant will continue to be eligible for the benefits provided in Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those Articles, and any previously elected deferrals
of Restricted Stock and Qualifying Gains will continue to be withheld. However, the portion of such Participant's Annual Deferral Amount which is attributable to Base Annual Salary, Annual Bonus
and/or LTIP Amounts shall not be withheld during the Suspension Period, and the Participant shall not be allowed to make any deferral elections during the Suspension Period. 

ARTICLE 6

Change in Control Benefit  

	6.1
	Change in Control Benefit. The Participant will receive a Change in Control Benefit, which shall be equal to the Participant's vested
Account Balance, calculated as of the close of business on or around the date of the Change in Control, as selected by the Committee in its sole discretion, if (i) the Participant has elected
to receive a Change in Control Benefit, as set forth in Section 6.2 below, and (ii) a Change in Control occurs.

	6.2
	Payment of Change in Control Benefit. A Participant, in connection with his or her commencement of participation in the Plan, shall
irrevocably elect on an Election Form whether to (i) receive a Change in Control Benefit, or (ii) have his or her Account Balance remain in the Plan upon the occurrence of a Change in
Control. If a Participant does not make any election with respect to the payment of the Change in Control Benefit, then such Participant's Account Balance shall remain in the Plan upon a Change in
Control and shall remain subject to the terms and conditions of the Plan. 

15

 

A
Participant who has irrevocably elected to receive a Change in Control Benefit, shall elect to have such Change in Control Benefit paid in either a lump sum or pursuant to an Annual Installment
Method in accordance with the following: 

	(a)
	If
a Change in Control occurs after a Participant's actual Retirement or deemed Retirement under Article 9, but before the applicable benefit is paid in full, the optional
forms of payment shall be a lump sum payment or a continuation of the annual installments. The lump sum payment shall be made no later than sixty (60) days after the earlier of
(i) July 1 following the Change of Control, or (ii) January 1 following the Change of Control, as determined by the Committee in its sole discretion.

	(b)
	If
a Change in Control occurs at any other time and the Participant's Account Balance has not been fully distributed, the optional forms of payment shall be a lump sum or annual
installments over 10 years. The lump sum payment shall be made, or installment payments shall commence, no later than sixty (60) days after the earlier of (i) July 1
following the Change of Control, or (ii) January 1 following the Change of Control, as determined by the Committee in its sole discretion. Remaining installments, if
any, shall be paid no later than sixty (60) days after each anniversary of the date on which the Participant's benefits commenced in accordance with the preceding sentence. 

If
a Participant elects to receive a Change in Control Benefit and does not make any election with respect to the form of payment of the Change in Control Benefit, then such benefit shall be payable
in a lump sum. 

ARTICLE 7

Retirement Benefit  

	7.1
	Retirement Benefit. A Participant who Retires shall receive, as a Retirement Benefit, his or her vested Account Balance, calculated as
of the close of business on or around the earlier of the (i) July 1 following the date on which the Participant Retires, or (ii) January 1 following the date on which the
Participant Retires, as determined by the Committee in its sole discretion.

	7.2
	Payment of Retirement Benefit. A Participant, in connection with his or her commencement of participation in the Plan, shall elect on
an Election Form to receive the Retirement Benefit in a lump sum or pursuant to an Annual Installment Method over 5 or 10 years. The Participant may change his or her election to an allowable
alternative payout period by submitting a new Election Form to the Committee, provided that any such Election Form is submitted to and accepted by the Committee in its sole discretion at least
thirteen (13) months prior to the Participant's Retirement. The Election Form most recently accepted by the Committee shall govern the payout of the Retirement Benefit. If a Participant does
not make any election with respect to the payment of the Retirement Benefit, then such benefit shall be payable in a lump sum. The lump sum payment shall be made, or installment payments shall
commence, no later than sixty (60) days after the earlier of (i) July 1 following the date on which the Participant Retires, or (ii) January 1 following the date on
which the Participant Retires, as determined by the Committee in its sole discretion. Remaining installments, if any, shall be paid no later than sixty (60) days after each anniversary of the
date on which the Participant's benefits commenced in accordance with the preceding sentence. 

ARTICLE 8

Termination Benefit  

	8.1
	Termination Benefit. A Participant who experiences a Termination of Employment shall receive a Termination Benefit, which shall be
equal to the Participant's vested Account Balance, calculated as of the close of business on or around the earlier of the (i) July 1 following the date on which the Participant
experiences the Termination of Employment, or (ii) January 1 following the date on 

16

 

which
the Participant experiences the Termination of Employment, as determined by the Committee in its sole discretion. 

	8.2
	Payment of Termination Benefit. The Termination Benefit shall be paid to the Participant in a lump sum payment no later than sixty
(60) days after the earlier of the (i) July 1 following the date on which the Participant experiences the Termination of Employment, or (ii) January 1 following the
date on which the Participant experiences the Termination of Employment, as determined by the Committee in its sole discretion. 

ARTICLE 9

Disability Waiver and Benefit  

	9.1
	Disability Waiver. 

	(a)
	Waiver of Deferral. If a Participant is determined to be both (i) suffering from a Disability, and (ii) receiving
100 percent of his or her Base Annual Salary during the period of Disability, then the Participant's Annual Deferral Amount Restricted Stock and Qualifying Gains shall continue to be withheld
during such period of Disability. If a Participant is determined to be both (i) suffering from a Disability, and (ii) receiving less than 100 percent of his or her Base Annual
Salary during the period of such Disability, then such Participant shall be excused from fulfilling that portion of the Annual Deferral Amount commitment that would otherwise have been withheld from a
Participant's Base Annual Salary, Annual Bonus and/or LTIP Amounts for the Plan Year during which the Participant first suffers a Disability. However, any previously elected deferrals of Restricted
Stock and Qualifying Gains shall continue to be withheld during such Disability. During the period of Disability, the Participant shall not be allowed to make any additional deferral elections, but
will continue to be eligible for the benefits provided in Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those Articles.

	(b)
	Deferral Following Disability. If a Participant (i) returns to employment with an Employer after a Disability ceases, and
(ii) payment of 100 percent of his or her Base Annual Salary recommences, the Participant may elect to defer an Annual Deferral Amount, Annual Restricted Stock Amount and
Annual Stock Option Gain Amount for the Plan Year following his or her return to employment or service and for every Plan Year thereafter while a Participant in the Plan; provided such deferral
elections are otherwise allowed and an Election Form is delivered to and accepted by the Committee for each such election in accordance with Section 3.3 above. 

	9.2
	Continued Eligibility; Disability Benefit. 

	(a)
	Continued Eligibility. A Participant suffering a Disability shall, for benefit purposes under this Plan, continue to be considered to
be employed and shall be eligible for the benefits provided for in Articles 5, 6, 7, 8 or 10 in accordance with the provisions of those Articles. Notwithstanding the above, the Committee shall have
the right to, in its sole and absolute discretion and for purposes of this Plan only, deem the Participant's employment to have terminated at any time after such Participant is determined to be
suffering a Disability.

	(b)
	Deemed Termination of Employment. If, in the Committee's discretion, the Disabled Participant's employment has terminated, and such
Participant is not otherwise eligible to Retire, the Participant shall be deemed to have experienced a Termination of Employment for purposes of this Plan and will receive a Disability Benefit. The
Disability Benefit shall be equal to his or her vested Account Balance, calculated as of the close of business on or around the earlier of the (i) July 1 following the date on which the
Disabled Participant is deemed to have experienced a Termination of Employment, as determined by the Committee in its sole 

17

 

discretion,
or (ii) January 1 following the date on which the Disabled Participant is deemed to have experienced a Termination of Employment, as determined by the Committee in its sole
discretion. The Participant shall receive his or her Disability Benefit in a lump sum payment no later than sixty (60) days after the earlier of the (A) July 1 following the date
on which the Disabled Participant is deemed to have experienced a Termination of Employment, or (B) January 1 following the date on which
the Disabled Participant is deemed to have experienced a Termination of Employment. 

	(c)
	Deemed Retirement. If, in the Committee's discretion, the Disabled Participant's employment has terminated, and such Participant is
otherwise eligible to Retire, the Participant shall be deemed to have Retired for purposes of this Plan and will receive a Disability Benefit. The Disability Benefit shall be equal to his or her
vested Account Balance, calculated as of the close of business on or around the earlier of the (i) July 1 following the date on which the Participant is deemed to have Retired, as
determined by the Committee in its sole discretion, or (ii) January 1 following the date on which the Participant is deemed to have Retired, as determined by the Committee in its sole
discretion. The Participant shall receive his or her Disability Benefit in the same form in which such Participant elected to receive his or her Retirement Benefit. The lump sum payment shall be made,
or installment payments shall commence, no later than sixty (60) days after the earlier of the (A) July 1 following the date on which the Disabled Participant is deemed to have
Retired, or (B) January 1 following the date
on which the Disabled Participant is deemed to have Retired, as determined by the Committee in its sole discretion. Remaining installments, if any, shall be paid no later than sixty (60) days
after each anniversary of the date on which the Participant's benefits commenced in accordance with the preceding sentence. 

ARTICLE 10

Survivor Benefit  

	10.1
	Survivor Benefit. The Participant's Beneficiary(ies) shall receive a Survivor Benefit upon the Participant's death which will be equal
to (i) the Participant's vested Account Balance, calculated as of the close of business on or around the earlier of the (A) July 1 following the date of the Participant's death,
or (B) January 1 following the date of the Participant's death, as selected by the Committee in its sole discretion, if the Participant dies prior to his or her Retirement, Termination
of Employment or Disability, or (ii) the Participant's unpaid Retirement Benefit or Disability Benefit, calculated as of the close of business on or around the earlier of the
(A) July 1 following the date of the Participant's death, or (B) January 1 following the date of the Participant's death, as selected by the Committee in its sole
discretion, if the Participant dies before his or her Retirement Benefit or Disability Benefit is paid in full.

	10.2
	Payment of Survivor Benefit. The Survivor Benefit shall be paid to the Participant's Beneficiary(ies) in a lump sum payment no later
than sixty (60) days after the earlier of the (i) July 1 following the date on which the Committee is provided with proof that is satisfactory to the Committee of the
Participant's death, or (ii) January 1 following the date on which the Committee is provided with proof that is satisfactory to the Committee of the Participant's death, as determined by
the Committee in its sole discretion. 

ARTICLE 11

Beneficiary Designation  

	11.1
	Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary(ies) (both primary as well as
contingent) to receive any benefits payable under the Plan to a beneficiary upon the death of a Participant. The Beneficiary designated under this Plan may 

18

 

be
the same as or different from the Beneficiary designation under any other plan of an Employer in which the Participant participates. 

	11.2
	Beneficiary Designation; Change of Beneficiary Designation. A Participant shall designate his or her Beneficiary by completing and
signing the Beneficiary Designation Form, and returning it to the Committee or its designated agent. A Participant shall have the right to change a Beneficiary by completing, signing and otherwise
complying with the terms of the Beneficiary Designation Form and the Committee's rules and procedures, as in effect from time to time. Upon the acceptance by the Committee of a new Beneficiary
Designation Form, all Beneficiary designations previously filed shall be canceled. The Committee shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and
accepted by the Committee prior to his or her death.

	11.3
	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received and acknowledged in writing
by the Committee or its designated agent.

	11.4
	No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 11.1, 11.2 and 11.3 above or, if
all designated Beneficiaries predecease the Participant or die prior to complete distribution of the Participant's benefits, then the Participant's designated Beneficiary shall be deemed to be his or
her surviving spouse. If the Participant has no surviving spouse, the benefits remaining under the Plan to be paid to a Beneficiary shall be payable to the executor or personal representative of the
Participant's estate.

	11.5
	Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this Plan, the
Committee shall have the right, exercisable in its discretion, to cause the Participant's Employer to withhold such payments until this matter is resolved to the Committee's satisfaction.

	11.6
	Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge all Employers
and the Committee from all further obligations under this Plan with respect to the Participant, and that Participant's Plan Agreement shall terminate upon such full payment of benefits. 

ARTICLE 12

Leave of Absence  

	12.1
	Paid Leave of Absence. If a Participant is authorized by the Participant's Employer to take a paid leave of absence from the
employment of the Employer, (i) the Participant shall continue to be considered eligible for the benefits provided in Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those
Articles, and (ii) the Annual Deferral Amount and any previously elected deferrals
of Restricted Stock and Qualifying Gains shall continue to be withheld during such paid leave of absence in accordance with Section 3.3.

	12.2
	Unpaid Leave of Absence. If a Participant is authorized by the Participant's Employer to take an unpaid leave of absence from the
employment of the Employer for any reason, such Participant shall continue to be eligible for the benefits provided in Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those Articles,
and any previously elected deferrals of Restricted Stock and Qualifying Gains shall continue to be withheld during such unpaid leave of absence in accordance with Section 3.3. However, the
Participant shall be excused from fulfilling that portion of the Annual Deferral Amount commitment that would otherwise have been withheld from such Participant's Base Annual Salary, Annual Bonus
and/or LTIP Amounts during the remainder of the Plan Year in which the unpaid leave of absence is taken. During the unpaid leave of absence, the Participant shall not be allowed to make any additional
deferral elections. However, if the Participant returns to employment, the Participant may elect to defer an Annual Deferral Amount, Annual Restricted Stock Amount and Annual Stock Option Gain Amount
for the Plan Year 

19

 

following
his or her return to employment and for every Plan Year thereafter while a Participant in the Plan; provided such deferral elections are otherwise allowed and an Election Form is delivered
to and accepted by the Committee for each such election in accordance with Section 3.3 above. 

ARTICLE 13

Termination, Amendment or Modification  

	13.1
	Termination. Although each Employer anticipates that it will continue the Plan for an indefinite period of time, there is no guarantee
that any Employer will continue the Plan or will not terminate the Plan at any time in the future. Accordingly, each Employer reserves the right to discontinue its sponsorship of the Plan and/or to
terminate the Plan at any time with respect to any or all of its participating Employees, by action of its board of directors. Upon the termination of the Plan with respect to any Employer, the Plan
Agreements of the affected Participants who are employed by that Employer shall terminate and their vested Account Balances shall be determined (i) as if they had experienced a Termination of
Employment on the date of Plan termination; or (ii) if Plan termination occurs after the date upon which a Participant was eligible to Retire, then with respect to that Participant as if he or
she had Retired on the date of Plan termination. Such benefits shall be paid to the Participants as follows: (i) prior to a Change in Control, if the Plan is terminated with respect to all of
its Participants, an Employer shall have the right, in its sole discretion, and notwithstanding any elections made by the Participant, to pay such benefits in a lump sum or pursuant to an Annual
Installment Method of up to 15 years, with amounts credited and debited during the installment period as provided herein; or (ii) prior to a Change in Control, if the Plan is terminated
with respect to less than all of its Participants, an Employer shall be required to pay such benefits in a lump sum; or (iii) after a Change in Control, if the Plan is terminated with respect
to some or all of its Participants, the Employer shall be required to pay such benefits in a lump sum. The termination of the Plan shall not adversely affect any Participant or Beneficiary who has
become entitled to the payment of any benefits under the Plan as of the date of termination; provided however, that the Employer shall have
the right to accelerate installment payments without a premium or prepayment penalty by paying the vested Account Balance in a lump sum or pursuant to an Annual Installment Method using fewer years
(provided that the present value of all payments that will have been received by a Participant at any given point of time under the different payment schedule shall equal or exceed the present value
of all payments that would have been received at that point in time under the original payment schedule).

	13.2
	Amendment. Any Employer may, at any time, amend or modify the Plan in whole or in part with respect to that Employer by the action of
its board of directors; provided, however, that: (i) no amendment or modification shall be effective to decrease or restrict the value of a Participant's vested Account Balance in existence at
the time the amendment or modification is made, calculated as if the Participant had experienced a Termination of Employment as of the effective date of the amendment or modification or, if the
amendment or modification occurs after the date upon which the Participant was eligible to Retire, the Participant had Retired as of the effective date of the amendment or modification, and
(ii) no amendment or modification of this Section 13.2 or Section 14.2 of the Plan shall be effective. The amendment or modification of the Plan shall not affect any Participant
or Beneficiary who has become entitled to the payment of benefits under the Plan as of the date of the amendment or modification; provided, however, that the Employer shall have the right to
accelerate installment payments by paying the vested Account Balance in a lump sum or pursuant to an Annual Installment Method using fewer years (provided that the present value of all payments that
will have been received by a Participant at any given point of time under the different payment schedule shall equal or exceed the present value of all payments that would have been received at that
point in time under the original payment schedule). 

20

 
	13.3
	Plan Agreement. Despite the provisions of Sections 13.1 and 13.2 above, if a Participant's Plan Agreement contains benefits or
limitations that are not in this Plan document, the Employer may only amend or terminate such provisions with the written consent of the Participant.

	13.4
	Effect of Payment. The full payment of the Participant's vested Account Balance under Articles 5, 6, 7, 8, 9 or 10 of the Plan shall
completely discharge all obligations to a Participant and his or her designated Beneficiaries under this Plan and the Participant's Plan Agreement shall terminate. 

ARTICLE 14

Administration  

	14.1
	Committee Duties. Except as otherwise provided in this Article 14, this Plan shall be administered by a Committee, which shall
consist of the Board, or such committee as the Board shall appoint. Members of the Committee may be Participants under this Plan. The Committee shall also have the discretion
and authority to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and (ii) decide or resolve any and all questions
including interpretations of this Plan, as may arise in connection with the Plan. Any individual serving on the Committee who is a Participant shall not vote or act on any matter relating solely to
himself or herself. When making a determination or calculation, the Committee shall be entitled to rely on information furnished by a Participant or the Company.

	14.2
	Administration Upon Change In Control. For purposes of this Plan, the Committee shall be the "Administrator" at all times prior to the
occurrence of a Change in Control. Within one-hundred and twenty (120) days following a Change in Control, an independent third party "Administrator" may be selected by the
individual who, immediately prior to the Change in Control, was the Company's Chief Executive Officer or, if not so identified, the Company's highest ranking officer (the "Ex-CEO"), and
approved by the Trustee. The Committee, as constituted prior to the Change in Control, shall continue to be the Administrator until the earlier of (i) the date on which such independent third
party is selected and approved, or (ii) the expiration of the one-hundred and twenty (120) day period following the Change in Control. If an independent third party is not
selected within one-hundred and twenty (120) days of such Change in Control, the Committee, as described in Section 14.1 above, shall be the Administrator. The Administrator
shall have the discretionary power to determine all questions arising in connection with the administration of the Plan and the interpretation of the Plan and Trust including, but not limited to
benefit entitlement determinations; provided, however, upon and after the occurrence of a Change in Control, the Administrator shall have no power to direct the investment of Plan or Trust assets or
select any investment manager or custodial firm for the Plan or Trust. Upon and after the occurrence of a Change in Control, the Company must: (1) pay all reasonable administrative expenses and
fees of the Administrator; (2) indemnify the Administrator against any costs, expenses and liabilities including, without limitation, attorney's fees and expenses arising in connection with the
performance of the Administrator hereunder, except with respect to matters resulting from the gross negligence or willful misconduct of the Administrator or its employees or agents; and
(3) supply full and timely information to the Administrator on all matters relating to the Plan, the Trust, the Participants and their Beneficiaries, the Account Balances of the Participants,
the date and circumstances of the Retirement, Disability, death or Termination of Employment of the Participants, and such other pertinent information as the Administrator may reasonably require. Upon
and after a Change in Control, the Administrator may be terminated (and a replacement appointed) by the Trustee only with the approval of the Ex-CEO. Upon and after a Change in Control,
the Administrator may not be terminated by the Company.

	14.3
	Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such
administrative duties as it sees fit (including acting through a duly 

21

 

appointed
representative) and may from time to time consult with counsel who may be counsel to any Employer. 

	14.4
	Binding Effect of Decisions. The decision or action of the Administrator with respect to any question arising out of or in connection
with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest
in the Plan.

	14.5
	Indemnity of Committee. All Employers shall indemnify and hold harmless the members of the Committee, any Employee to whom the duties
of the Committee may be delegated, and the Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan,
except in the case of willful misconduct by the Committee, any of its members, any such Employee or the Administrator.

	14.6
	Employer Information. To enable the Committee and/or Administrator to perform its functions, the Company and each Employer shall
supply full and timely information to the Committee and/or Administrator, as the case may be, on all matters relating to the compensation of its Participants, the date and circumstances of the
Retirement, Disability, death or Termination of Employment of its Participants, and such other pertinent information as the Committee or Administrator may reasonably require. 

ARTICLE 15

Other Benefits and Agreements  

	15.1
	Coordination with Other Benefits. The benefits provided for a Participant and Participant's Beneficiary under the Plan are in addition
to any other benefits available to such Participant under any other plan or program for employees of the Participant's Employer. The Plan shall supplement and shall not supersede, modify or amend any
other such plan or program except as may otherwise be expressly provided. 

ARTICLE 16

Claims Procedures  

	16.1
	Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to
below as a "Claimant") may deliver to the Committee a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. If such a claim relates to the
contents of a notice received by the Claimant, the claim must be made within sixty (60) days after such notice was received by the Claimant. All other claims must be made within 180 days
of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the Claimant.

	16.2
	Notification of Decision. The Committee shall consider a Claimant's claim within a reasonable time, but no later than ninety
(90) days after receiving the claim. If the Committee determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be
furnished to the Claimant prior to the termination of the initial ninety (90) day period. In no event shall such extension exceed a period of ninety (90) days from the end of the initial
period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Committee expects to render the benefit determination. The Committee
shall notify the Claimant in writing: 

	(a)
	that
the Claimant's requested determination has been made, and that the claim has been allowed in full; or 

22

 

	(b)
	that
the Committee has reached a conclusion contrary, in whole or in part, to the Claimant's requested determination, and such notice must set forth in a manner calculated to be
understood by the Claimant:

	(i)
	the
specific reason(s) for the denial of the claim, or any part of it;

	(ii)
	specific
reference(s) to pertinent provisions of the Plan upon which such denial was based;

	(iii)
	a
description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or
information is necessary;

	(iv)
	an
explanation of the claim review procedure set forth in Section 16.3 below; and

	(v)
	a
statement of the Claimant's right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

	16.3
	Review of a Denied Claim. On or before sixty (60) days after receiving a notice from the Committee that a claim has been
denied, in whole or in part, a Claimant (or the Claimant's duly authorized
representative) may file with the Committee a written request for a review of the denial of the claim. The Claimant (or the Claimant's duly authorized representative): 

	(a)
	may,
upon request and free of charge, have reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits;

	(b)
	may
submit written comments or other documents; and/or

	(c)
	may
request a hearing, which the Committee, in its sole discretion, may grant. 

	16.4
	Decision on Review. The Committee shall render its decision on review promptly, and no later than sixty (60) days after the
Committee receives the Claimant's written request for a review of the denial of the claim. If the Committee determines that special circumstances require an extension of time for processing the claim,
written notice of the extension shall be furnished to the Claimant prior to the termination of the initial sixty (60) day period. In no event shall such extension exceed a period of sixty
(60) days from the end of the initial period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Committee expects to render
the benefit determination. In rendering its decision, the Committee shall take into account all comments, documents, records and other information submitted by the Claimant relating to the claim,
without regard to whether such information was submitted or considered in the initial benefit determination. The decision must be written in a manner calculated to be understood by the Claimant, and
it must contain: 

	(a)
	specific
reasons for the decision;

	(b)
	specific
reference(s) to the pertinent Plan provisions upon which the decision was based;

	(c)
	a
statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the Claimant's claim for benefits; and

	(d)
	a
statement of the Claimant's right to bring a civil action under ERISA Section 502(a). 

	16.5
	Legal Action. A Claimant's compliance with the foregoing provisions of this Article 16 is a mandatory prerequisite to a
Claimant's right to commence any legal action with respect to any claim for benefits under this Plan. 

23

 
ARTICLE 17

Trust  

	17.1
	Establishment of the Trust. In order to provide assets from which to fulfill the obligations of the Participants and their
beneficiaries under the Plan, the Company may establish a Trust by a trust agreement with a third party, the trustee, to which each Employer may, in its discretion, contribute cash or other property,
including securities issued by the Company, to provide for the benefit payments under the Plan.

	17.2
	Interrelationship of the Plan and the Trust. The provisions of the Plan and the Plan Agreement shall govern the rights of a
Participant to receive distributions pursuant to the Plan. The provisions of the Trust shall govern the rights of the Employers, Participants and the creditors of the Employers to the assets
transferred to the Trust. Each Employer shall at all times remain liable to carry out its obligations under the Plan.

	17.3
	Distributions From the Trust. Each Employer's obligations under the Plan may be satisfied with Trust assets distributed pursuant to
the terms of the Trust, and any such distribution shall reduce the Employer's obligations under this Plan. 

ARTICLE 18

Miscellaneous  

	18.1
	Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that "is
unfunded and is maintained by an employer primarily for the purpose of
providing deferred compensation for a select group of management or highly compensated employees" within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be administered
and interpreted to the extent possible in a manner consistent with that intent.

	18.2
	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable
rights, interests or claims in any property or assets of an Employer. For purposes of the payment of benefits under this Plan, any and all of an Employer's assets shall be, and remain, the general,
unpledged unrestricted assets of the Employer. An Employer's obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future.

	18.3
	Employer's Liability. An Employer's liability for the payment of benefits shall be defined only by the Plan and the Plan Agreement, as
entered into between the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan except as expressly provided in the Plan and his or her Plan Agreement.

	18.4
	Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge,
anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all
rights to which are expressly declared to be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment,
garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be transferable by operation of law in the event of a
Participant's or any other person's bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise.

	18.5
	Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between
any Employer and the Participant. Such employment is hereby acknowledged to be an "at will" employment relationship that can be terminated at any time for any reason, or no reason, with or without
cause, and with or without notice, unless expressly provided in a written employment agreement. Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of
any Employer, as an Employee, or to interfere with the right of any Employer to discipline or discharge the Participant at any time. 

24

 

	18.6	 	Furnishing Information. A Participant or his or her Beneficiary will cooperate with the Committee by furnishing any and all information requested by the Committee and take such other
actions as may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder, including but not limited to taking such physical examinations as the Committee may deem necessary.
	

18.7	
 	
Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were in the feminine in all cases where they would so apply; and whenever any words
are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply.
	

18.8	
 	
Captions. The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of any of its
provisions.
	

18.9	
 	
Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and interpreted according to the internal laws of the State of Georgia without regard to its conflicts
of laws principles.
	

18.10	
 	
Notice. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing and hand-delivered, or sent by registered or
certified mail, to the address below:

Certegy
Inc.

Attn: Vice President—Human Resources

11720 Amber Park Drive, Suite 600

Alpharetta, Georgia 30004 

	

 	
 	

Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification.
	

 	
 	

Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Participant.
	

18.11	
 	
Successors. The provisions of this Plan shall bind and inure to the benefit of the Participant's Employer and its successors and assigns and the Participant and the Participant's
designated Beneficiaries.
	

18.12	
 	
Spouse's Interest. The interest in the benefits hereunder of a spouse of a Participant who has predeceased the Participant shall automatically pass to the Participant and shall not be
transferable by such spouse in any manner, including but not limited to such spouse's will, nor shall such interest pass under the laws of intestate succession.
	

18.13	
 	
Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall
be construed and enforced as if such illegal or invalid provision had never been inserted herein.
	

18.14	
 	
Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared incompetent or to a person incapable of handling
the disposition of that person's property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person. The Committee may require proof of
minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the Participant's Beneficiary, as the case may be,
and shall be a complete discharge of any liability under the Plan for such payment amount.
	
 	
 	

 

25

 

	

18.15	
 	
Court Order. The Committee is authorized to make any payments directed by court order in any action in which the Plan or the Committee has been named as a party. In addition, if a
court determines that a spouse or former spouse of a Participant has an interest in the Participant's benefits under the Plan in connection with a property settlement or otherwise, the Committee, in its sole discretion, shall have the right,
notwithstanding any election made by a Participant, to immediately distribute the spouse's or former spouse's interest in the Participant's benefits under the Plan to that spouse or former spouse.
	

18.16	
 	
Distribution in the Event of Taxation.

	(a)
	In General. If, for any reason, all or any portion of a Participant's benefits under this Plan becomes taxable to the Participant prior
to receipt, a Participant may petition the Committee before a Change in Control, or the trustee of the Trust after a Change in Control, for a distribution of that portion of his or her benefit that
has become taxable. Upon the grant of such a petition, which grant shall not be
unreasonably withheld (and, after a Change in Control, shall be granted), a Participant's Employer shall distribute to the Participant immediately available funds in an amount equal to the taxable
portion of his or her benefit (which amount shall not exceed a Participant's unpaid vested Account Balance under the Plan). If the petition is granted, the tax liability distribution shall be made
within 90 days of the date when the Participant's petition is granted. Such a distribution shall affect and reduce the benefits to be paid under this Plan.

	(b)
	Trust. If the Trust terminates in accordance with its terms and benefits are distributed from the Trust to a Participant in accordance
therewith, the Participant's benefits under this Plan shall be reduced to the extent of such distributions. 

	

18.17	
 	
Insurance. The Employers, on their own behalf or on behalf of the trustee of the Trust, and, in their sole discretion, may apply for and procure insurance on the life of the
Participant, in such amounts and in such forms as the Trust may choose. The Employers or the trustee of the Trust, as the case may be, shall be the sole owner and beneficiary of any such insurance. The Participant shall have no interest whatsoever in
any such policy or policies, and at the request of the Employers shall submit to medical examinations and supply such information and execute such documents as may be required by the insurance company or companies to whom the Employers have applied
for insurance.

26

 

	

18.18	
 	
Legal Fees To Enforce Rights After Change in Control. The Company and each Employer is aware that upon the occurrence of a Change in Control, the Board or the board of directors of a
Participant's Employer (which might then be composed of new members) or a shareholder of the Company or the Participant's Employer, or of any successor corporation might then cause or attempt to cause the Company, the Participant's Employer or such
successor to refuse to comply with its obligations under the Plan and might cause or attempt to cause the Company or the Participant's Employer to institute, or may institute, litigation seeking to deny Participants the benefits intended under the
Plan. In these circumstances, the purpose of the Plan could be frustrated. Accordingly, if, following a Change in Control, it should appear to any Participant that the Company, the Participant's Employer or any successor corporation has failed to
comply with any of its obligations under the Plan or any agreement thereunder or, if the Company, such Employer or any other person takes any action to declare the Plan void or unenforceable or institutes any litigation or other legal action designed
to deny, diminish or to recover from any Participant the benefits intended to be provided, then the Company and the Participant's Employer irrevocably authorize such Participant to retain counsel of his or her choice at the expense of the Company and
the Participant's Employer (who shall be jointly and severally liable) to represent such Participant in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, the Participant's Employer
or any director, officer, shareholder or other person affiliated with the Company, the Participant's Employer or any successor thereto in any jurisdiction.

        IN
WITNESS WHEREOF, the Company has signed this Plan document as of                        , 200    . 

	 	 	"Company"

Certegy Inc., a Georgia corporation
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

27

QuickLinks

TABLE OF CONTENTSQuickLinks
 -- Click here to rapidly navigate through this document
Exhibit 10.33  

       

       

ASSET PURCHASE AGREEMENT  

 BETWEEN  

 DOWN ACQUISITION CORPORATION  

 AND  

 NETZEE, INC.  

  

 
 

TABLE OF CONTENTS    
  

	1.	 	Introduction	 	1
	

2.	
 	
Effective Date	
 	

1
	

3.	
 	
Definitions	
 	

1
	

4.	
 	
Purchase and Sale	
 	

6
	 	 	4.1  	 	Purchase and Sale of Purchased Assets.	 	6
	 	 	4.2  	 	Assumption of Liabilities.	 	7
	 	 	4.3  	 	Consideration for Purchased Assets.	 	8
	

5.	
 	
Closing	
 	

8
	 	 	5.1  	 	Time and Place	 	8
	 	 	5.2  	 	Closing Deliveries of Netzee	 	9
	 	 	5.3  	 	Closing Deliveries of Certegy	 	9
	

6.	
 	
Representations and Warranties of Netzee	
 	

9
	 	 	6.1  	 	Organization.	 	9
	 	 	6.2  	 	Authority	 	9
	 	 	6.3  	 	Required Consents	 	9
	 	 	6.4  	 	Equipment and Tangible Property	 	10
	 	 	6.5  	 	Intellectual Property and Proprietary Rights.	 	10
	 	 	6.6  	 	Material Business Contracts.	 	11
	 	 	6.7  	 	Business Licenses	 	12
	 	 	6.8  	 	Business Employees.	 	12
	 	 	6.9  	 	Employee Benefit Plans	 	12
	 	 	6.10	 	Financial Information	 	12
	 	 	6.11	 	Real Property.	 	13
	 	 	6.12	 	Litigation; Governmental Orders	 	13
	 	 	6.13	 	Compliance with Laws	 	13
	 	 	6.14	 	Environmental Matters	 	13
	 	 	6.15	 	Insurance	 	13
	 	 	6.16	 	Transactions with Affiliates	 	14
	 	 	6.17	 	Taxes.	 	14
	 	 	6.18	 	Absence of Changes or Events	 	14
	 	 	6.19	 	Sufficiency of Assets	 	15
	 	 	6.20	 	Brokers	 	15
	 	 	6.21	 	Accounts Receivable	 	15
	 	 	6.22	 	Prepaid Subscriptions	 	15
	 	 	6.23	 	Absence of Undisclosed Liabilities	 	15
	 	 	6.24	 	Books and Records	 	15
	 	 	6.25	 	Bank Accounts; Lock Boxes	 	15
	 	 	6.26	 	Projections	 	16
	 	 	6.27	 	Disclosure	 	16
	 	 	6.28	 	Business Performance	 	16
	

7.	
 	
Representations and Warranties of Certegy	
 	

16
	 	 	7.1  	 	Organization	 	16
	 	 	7.2  	 	Authority	 	16
	 	 	7.3  	 	Brokers	 	16
	

8.	
 	
Covenants and Agreements	
 	

17

i

 

	 	 	8.1  	 	Conduct of Business.	 	17
	 	 	8.2  	 	Access and Information	 	18
	 	 	8.3  	 	Confidentiality.	 	18
	 	 	8.4  	 	Further Actions	 	18
	 	 	8.5  	 	Publicity	 	19
	 	 	8.6  	 	Transaction Costs	 	19
	 	 	8.7  	 	Employees and Employee Benefit Matters.	 	19
	 	 	8.8  	 	Retention of and Access to Records.	 	19
	 	 	8.9  	 	Insurance	 	20
	 	 	8.10	 	Exclusivity	 	20
	 	 	8.11	 	Covenant Not to Compete.	 	20
	 	 	8.12	 	Equitable Remedies	 	20
	 	 	8.13	 	Intellectual Property	 	20
	 	 	8.14	 	Endorsement of Checks	 	21
	 	 	8.15	 	Meeting of Stockholders	 	21
	 	 	8.16	 	Filings; Other Actions	 	21
	 	 	8.17	 	Use of Proceeds	 	22
	

9.	
 	
Conditions to Closing	
 	

22
	 	 	9.1  	 	Conditions to Obligations of Certegy	 	22
	 	 	9.2  	 	Conditions to Obligations of Netzee	 	23
	

10.	
 	
Indemnification	
 	

24
	 	 	10.1  	 	Survival	 	24
	 	 	10.2  	 	Indemnification by Certegy	 	24
	 	 	10.3  	 	Indemnification by Netzee	 	24
	 	 	10.4  	 	Claims.	 	24
	 	 	10.5  	 	Limitations.	 	25
	 	 	10.6  	 	Treatment of Indemnity Benefits	 	25
	

11.	
 	
Termination	
 	

25
	 	 	11.1  	 	Termination	 	25
	 	 	11.2  	 	Procedure and Effect of Termination.	 	25
	

12.	
 	
Miscellaneous	
 	

26
	 	 	12.1  	 	Assignment	 	26
	 	 	12.2  	 	Governing Law	 	26
	 	 	12.3  	 	Waiver	 	26
	 	 	12.4  	 	Force Majeure	 	26
	 	 	12.5  	 	Headings; Construction	 	26
	 	 	12.6  	 	Entire Agreement	 	27
	 	 	12.7  	 	Neutral Construction	 	27
	 	 	12.8  	 	Severability	 	27
	 	 	12.9  	 	Notices	 	27
	 	 	12.10	 	Time is of the Essence	 	28
	 	 	12.11	 	No Third Party Beneficiary	 	28
	 	 	12.12	 	Counterparts	 	28
	 	 	12.13	 	Amendment	 	28
	 	 	12.14	 	No Successor Liability	 	28
	 	 	12.15	 	Specific Performance	 	28

ii

 
 
 

List of Schedules and Exhibits    
  

	Schedule
 
	 	Description

	4.1(a)(i)	 	Leased Real Property
	4.1(a)(vi)	 	Purchased Assets, Including All Intellectual Property, Client Contracts and Material Business Contracts
	4.1(b)(x)	 	Certain Retained Assets
	4.3(b)	 	Accounts Receivable Certificate
	6.1	 	List of Affiliates and Jurisdictions
	6.3	 	Required Consents
	6.4	 	Equipment and Tangible Personal Property
	6.5	 	Intellectual Property Infringement, Licensing and Ownership Issues
	6.6(a)	 	Contract Listing
	6.6(b)	 	Material Business Contracts—Exceptions to Enforceability
	6.7	 	Business Licenses
	6.8(a)	 	Business Employees
	6.10	 	Financial Information
	6.12	 	Litigation; Governmental Orders
	6.13	 	Compliance with Laws
	6.14	 	Environmental Matters
	6.15	 	Business Insurance Policies
	6.16	 	Transactions with Affiliates
	6.17(a)	 	Taxes
	6.18	 	Certain Changes or Events
	6.19	 	Affiliate Ownership of Assets
	6.21	 	Accounts Receivable
	6.22	 	Prepaid Subscriptions
	6.23	 	Liabilities
	6.25	 	Accounts and Lock Boxes
	6.26	 	Projections
	8.7	 	Identified Employees
	8.15(b)	 	Plan of Liquidation and Dissolution

	
Exhibit
 
	
 	

Description

	Exhibit A	 	Wire Instructions for Netzee
	Exhibit B	 	Indemnity Escrow Agreement

iii

   ASSET PURCHASE AGREEMENT  

        By this Asset Purchase Agreement, Down Acquisition Corporation ("Certegy") and Netzee, Inc. ("Netzee"), agree as follows: 

        1.    Introduction. Netzee desires to sell certain assets that it uses in connection with its Business, including the Material
Business Contracts and the Software. Certegy desires to purchase, and Netzee desires to sell, certain of the assets owned, used or held for use by Netzee in connection with the Business and in
connection therewith, Certegy has agreed to assume certain specifically identified liabilities of Netzee relating to the Business, all upon the terms and subject to the conditions set forth in this
Agreement. 

        2.    Effective Date. This Agreement is made and entered on and is effective as of December 5, 2002 ("Effective Date"). 

        3.    Definitions. When used in this Agreement, the following terms shall have the respective meanings set forth below: 

        "Accounts Receivable" shall mean all of Netzee's rights in, to and under all purchase orders or receipts for goods or services as
maintained in the books and records of Netzee in the ordinary course of business. 

        "Accounts Receivable Certificate" has the meaning set forth in Subsection 4.3(b). 

        "Action" means any claim, action, suit or proceeding, arbitral action, governmental inquiry, criminal prosecution or other investigation. 

        "Affiliate" means, with respect to any Person: (i) any other Person directly or indirectly controlling, controlled by or under
common control with, such Person; (ii) any other Person that beneficially owns
ten percent (10%) or more of any class of equity securities (including any equity securities issuable upon the exercise of any option or convertible security) of such Person or any of its Affiliates;
or (iii) any director, partner, executive officer or manager of such Person. For the purposes of this definition, "control" (including, with correlative meanings, the terms "controlling",
"controlled by" and "under common control with") means, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies
of such Person, whether through ownership of voting securities, by contract or otherwise. 

        "Agreement" means this Asset Purchase Agreement and all of its schedules and exhibits, as well as the Operative Agreements. 

        "Alternative Transaction" has the meaning set forth in Subsection 8.1(b). 

        "Assigned IP" has the meaning set forth in Subsection 4.1(a)(vi). 

        "Assumed Liabilities" has the meaning set forth in Subsection 4.2(a). 

        "Balance Sheet" has the meaning set forth in Subsection 6.10. 

        "Benefit Plan" means any Plan that is sponsored, maintained or contributed to or required to be contributed to by Netzee or to which
Netzee is a party, or with respect to which Netzee has any other similar or comparable obligation or liability (fixed, contingent or otherwise), whether written or oral, for the benefit of any
Business Employee. 

        "Bill of Sale and Assignment Agreement" has the meaning set forth in Subsection 9.1(viii). 

        "Business" means Netzee's full-service Internet banking, online bill payment, cash management and other business lines,
including the Material Business Contracts and the Software. 

1

 

        "Business Day" means any day other than Saturday, Sunday or any day on which any U.S. national banking association is required or
authorized to be closed. 

        "Business Employees" has the meaning set forth in Subsection 6.8(b). 

        "Business Insurance Policies" has the meaning set forth in Subsection 6.15. 

        "Business Licenses" has the meaning set forth in Subsection 4.1(a)(iii). 

        "Cash Payment" has the meaning set forth in Subsection 4.3(a). 

        "Certegy" has the meaning set forth in the preamble to this Agreement. 

        "Certegy Indemnified Party" has the meaning set forth in Subsection 10.3. 

        "Claim" has the meaning set forth in Subsection 10.4. 

        "Client Contracts" means Netzee's agreements to provide Business' services to the customers identified in  Schedule 4.1(a)(vi). 

        "Closing" has the meaning set forth in Subsection 5.1. 

        "Closing Cash Payment" has the meaning set forth in Subsection 5.3. 

        "Closing Date" has the meaning set forth in Subsection 5.1. 

        "Closing Date Accounts Receivable" has the meaning set forth in Subsection 4.3(b). 

        "Contract" means any contract, agreement, indenture, note, bond, instrument, lease, conditional sales contract, mortgage, license,
franchise agreement, concession agreement, insurance policy, security interest, guaranty, binding commitment or other agreement or arrangement, whether written or oral. 

        "Effective Date" has the meaning set forth in Section 2. 

        "Encumbrance" means any security interest, pledge, mortgage, lien, charge, adverse claim of ownership or use, restriction on transfer
(such as a right of first refusal or other similar right), defect of title, or other encumbrance of any kind or character. 

        "Environmental Law" means any applicable law, order, regulation, decree, permit, license, ordinance or other federal, state, county,
provincial, local or foreign governmental requirements in effect as of the date hereof and/or the Closing Date relating to pollution, the protection of human health and the environment, or the Spill
of any Hazardous Substance into the environment. 

        "ERISA" means the Employee Retirement Income Security Act of 1974, as amended, any successor statute thereto and the rules and regulations
promulgated thereunder. 

        "Excluded Assets" has the meaning set forth in Subsection 4.1(b). 

        "Excluded Liabilities" has the meaning set forth in Subsection 4.2(b). 

        "Financial Information" has the meaning set forth in Subsection 6.10. 

        "GAAP" means United States generally accepted accounting principles, as in effect from time to time. 

        "Governmental Authority" means any government, any governmental entity, department, commission, board, agency or instrumentality, and any
court, tribunal or judicial body, in each case whether federal, state, county, provincial, local or foreign. 

2

 

        "Governmental Order" means any order, judgment, injunction, decree, stipulation or determination issued, promulgated or entered by or with
any Governmental Authority of competent jurisdiction. 

        "Hazardous Substance" means petroleum, petroleum by-products, polychlorinated biphenyls and any other chemicals, materials,
substances or wastes which are currently defined or regulated as "hazardous substances," "hazardous materials," "hazardous wastes," "extremely hazardous wastes," "restricted hazardous wastes," "toxic
substances," "toxic pollutants," "toxic air pollutants," "hazardous air pollutants," "pollutants," or "contaminants" under any Environmental Law. 

        "Identified Employees" has the meaning set forth in Subsection 8.7(a). 

        "Indemnified Party" has the meaning set forth in Subsection 10.4. 

        "Indemnifying Party" has the meaning set forth in Subsection 10.4. 

        "Indemnity Escrow Amount" has the meaning set forth in Subsection 5.3. 

        "Indemnity Escrow Agent" has the meaning set forth in Subsection 5.3. 

        "Indemnity Escrow Agreement" has the meaning set forth in Subsection 5.3. 

        "Independent Accounting Firm" means: (i) one of the nationally-recognized "big-four" public accounting firms mutually
acceptable to Netzee and Certegy; or (ii) if Netzee and Certegy are unable to agree upon such a firm, then each party shall select one such firm and those two firms shall select a third such
firm, in which event "Independent Accounting Firm" shall mean such third firm. 

        "Intellectual Property" means any: (i) patents, patent applications, invention disclosures and any inventions and improvements
described therein, whether patentable or unpatentable; (ii) Marks; (iii) copyrights and copyrightable works, and any registrations and applications for registration thereof;
(iv) trade secrets, confidential business information, know-how, research and development information; (v) technical drawings, technical specifications, technical designs and
technical data; (vi) software, software systems, databases and database systems, and documentation associated therewith; (vii) website applications and Internet web sites, including any
domain names, URLs, hypertext markup language ("HTML") files, graphics, text files and documentation associated with such website applications and Internet websites;
(viii) licenses granting Netzee any rights with respect to any of the foregoing; and (ix) where appropriate, copies and tangible embodiments of any of the foregoing in an appropriate
form or medium. 

        "Internal Revenue Code" means the Internal Revenue Code of 1986, as amended, any successor statute, and the rules and regulations
promulgated thereunder. 

        "knowledge of Netzee" means the actual knowledge of either Donny R. Jackson, Jarett J. Janik, Kevin R. Lee, Mike Upton, Leslie Owen, Luke
Balding, Jara Keskessa, Jim Averna, Tammy Martindale or Richard Campbell, or knowledge that either of them should have gained through the reasonable performance of their respective job functions. 

        "Law" means any federal, state, county, provincial, local or foreign statute, law, ordinance, regulation, rule, code or rule of common
law. 

        "Leased Real Property" has the meaning set forth in Subsection 4.1(a)(i). 

        "Liability" means any indebtedness, obligation or other liability (whether absolute, accrued, matured, contingent, known or unknown, fixed
or otherwise, or whether due or to become due), including, without limitation, any fine, penalty, judgment, award or settlement respecting any judicial administrative or arbitration proceeding,
damage, loss, claim or demand with respect to any Law. 

3

 

        "License" means any franchise, approval, permit, order, authorization, consent, license, registration or filing, certificate, variance and
any other similar right obtained from or filed with any Governmental Authority or private organization. 

        "Losses" has the meaning set forth in Subsection 10.2. 

        "Marks" means all imprints, titles, names, trade name, service marks, trade dress, logos, trade names and corporate names, the goodwill
associated therewith, and any registrations and applications for registration thereof. 

        "Material Adverse Change" means any change in or effect on the Purchased Assets or the Business that is, individually or in the aggregate,
materially adverse to the business, assets, operation, prospects, condition (financial or otherwise) or results of operations of the Business or the Purchased Assets; provided, however, that a
Material Adverse Change shall not include any change in or effect to the extent that it results indirectly or directly from (i) the loss of any customer, the cancellation or termination of any
Material Business Contract with any customer of Netzee, or any potential or
threatened customer loss or cancellation or termination of such Material Business Contract where such loss or threatened loss, cancellation or termination (a) has been disclosed on  Schedule 6.6(b) or (b) was directly or indirectly caused by any communication by or on behalf of Certegy, or any of its Affiliates, to
such customer or other party to such Material Business Contract; (ii) any changes in Law; or (iii) any change in generally applicable economic, business or financial market conditions. 

        "Material Business Contracts" has the meaning set forth in Subsection 6.6(a). 

        "Netzee Indemnified Party" has the meaning set forth in Subsection 10.2. 

        "Netzee" has the meaning set forth in the preamble to this Agreement. 

        "Netzee Marks" means all Marks of Netzee used in connection with the Business including those names and logos set forth on  Schedule 4.1(a)(vi). 

        "Nondisclosure Agreement" means the two (2) September 18, 2002 Confidentiality Agreements executed by Certegy and Netzee. 

        "Operating Software" means the processing software used by Netzee to operate and manage the Business, but excludes personal computer based
software licensed to consumers and businesses to perform electronic banking and/or electronic bill payment transactions, and as more fully described in Schedule 4.1(a)(vi). 

        "Operative Agreements" means, collectively; (i) the Bill of Sale and Assignment Agreement; (ii) all transfer documents
described in Subsection 9.1(v); (iii) the instruments effecting the assumption by Certegy of the Assumed Liabilities as described in Subsection 9.2(v); and (iv) a mutually acceptable
voting agreement among Certegy, John H. Harland Company, InterCept, Inc. and the owner of all shares of Series B 8% Convertible Preferred Stock of Netzee concerning the approval of the
transactions contemplated by this Agreement and the other Operative Agreements. 

        "Permitted Encumbrances" means: (i) Encumbrances for mechanics' and materialmen's liens and workmen's, repairmen's, warehousemen's,
landlord's, laborer's and carriers' liens arising in the ordinary course of business, the obligations of which are not overdue or otherwise delinquent; and (ii) Encumbrances for Taxes not yet
due and payable or being contested in good faith (it being understood that all Tax Liabilities of Netzee are Excluded Liabilities). 

        "Person" means any individual, general or limited partnership, firm, corporation, limited liability company or partnership, association,
trust, unincorporated organization or other entity. 

4

 

        "Plan" means any deferred compensation, bonus or other incentive compensation plan, program, agreement or arrangement; any severance or
termination pay, medical, surgical, hospitalization, life insurance and other "welfare" plan, fund or program (within the meaning of Section 3(1) of ERISA); any profit-sharing, stock bonus or
other "pension" plan, fund or program (within the meaning of Section 3(2) of ERISA); any employment, termination or severance agreement or arrangement; and any other employee benefit plan,
fund, program, agreement or arrangement. 

        "Purchase Price" has the meaning set forth in Subsection 4.3(a). 

        "Purchased Assets" has the meaning set forth in Subsection 4.1(a). 

        "Real Property Lease" has the meaning set forth in Subsection 4.1(a)(i). 

        "SEC" has the meaning set forth in Subsection 8.16. 

        "Software" means Netzee's proprietary software and website applications used to operate the Business as more fully described in  Schedule 4.1(a)(vi). 

        "Spill" means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping or
disposing of a Hazardous Substance into the environment. 

        "Stub Statements" has the meaning set forth in Subsection 6.10. 

        "Subsidiary" means, with respect to any Person, any corporation, general or limited partnership, limited liability company, joint venture
or other legal entity of any kind of which such Person (either alone or through or together with one or more of its other Subsidiaries) owns, directly or indirectly, more than fifty percent (50%) of
the stock or other equity interests, the holders of which are: (i) generally entitled to vote for the election of the board of directors or other governing body of such legal entity; or
(ii) generally entitled to share in the profits or capital of such legal entity. 

        "Tax" means any federal, state, county, provincial, local or foreign income, gross receipts, sales, use, ad valorem, employment,
severance, transfer, gains, profits, excise, franchise, property, capital stock, premium, minimum and alternative minimum or other taxes, fees, levies, duties, assessments or charges of any kind or
nature whatsoever imposed by any Governmental Authority (whether payable directly or by withholding), together with any interest, penalties (civil or criminal), additions to or additional amounts
imposed by, any Governmental Authority with respect thereto. 

        "Tax Return" means a report, return or other information required to be supplied to a Governmental Authority with respect to any Tax. 

        "Termination Date" has the meaning set forth in Subsection 11.1. 

        "Transferred Employees" has the meaning set forth in Subsection 8.7. 

Except
as otherwise expressly provided in this Agreement, or unless the context otherwise requires: (i) words using the singular or plural number also include the plural or singular number,
respectively, and the use of any gender herein shall be deemed to include the other genders; (ii) references in this Agreement to "Sections," "Subsections" and other subdivisions without
reference to a document are to the specified Sections, Subsections and other subdivisions of this Agreement; (iii) a reference to a subsection without further reference to a Section is a
reference to the subsection contained in the same Section in which the reference appears, and this rule shall also apply to other subdivisions within a Section or Subsection; and (iv) the words
"include," "includes" and "including" are to be read as being followed by the phrase "without limitation." All accounting terms used in this Agreement that are not 

5

 

expressly defined shall have the meanings given to them under GAAP. All references to dollars or "$" shall mean United States dollars. 

        4.    Purchase and Sale. 

        4.1  Purchase and Sale of Purchased Assets.

        (a)  Purchase and Sale. Subject to the terms and conditions set forth in this Agreement, at the Closing Certegy shall purchase
from Netzee, and Netzee shall irrevocably sell, convey, transfer, assign and deliver to Certegy, free and clear of all Encumbrances other than Permitted Encumbrances, all right, title and interest of
Netzee in and to all of Netzee's tangible and intangible rights, properties and assets of every kind, nature and description, wherever located, whether arising by contract, law or otherwise that
relate to the Business except for the Excluded Assets (collectively, "Purchased Assets"), including without limitation the following assets of Netzee relating to the Business (except for the Excluded
Assets): (i) all rights under the lease of real property ("Real Property Lease"), as more fully described in Schedule 4.1(a)(i), as to
which Netzee is the lessee ("Leased Real Property"), together with any leasehold improvements thereon, and in each case all other rights, subleases, licenses, permits and profits appurtenant or
related to such lease; (ii) all tangible assets including machinery, equipment, furniture, office equipment, fixtures, computer equipment (including all hardware and software, but subject, in
the case of software, to any restrictions by the vendor or licensor on the assignment thereof), facsimile machines, copying machines, communications equipment, vehicles and spare and replacement
parts, as more fully described in Schedule 6.4; (iii) all Licenses issued to or possessed by Netzee or required for the operation of the
Business or use of the Purchased Assets that are not, by Law or their terms, unassignable by Netzee to Certegy, and all rights thereunder (each, a "Business License" and, collectively, the "Business
Licenses"); (iv) all of Netzee's rights in, to and under the Material Business Contracts; (v) all marketing, sales and promotional literature, market research studies, subscriber
research, books, operating manuals, databases, customer and supplier lists and files, including customer lists, documents and records relating to past, present and prospective subscribers, such lists
to be in both printed form and computer media; (vi) all Intellectual Property owned by Netzee and used in the Business (including the Software set forth in  Schedule 4.1(a)(vi)), and all
goodwill associated therewith, rights thereunder, remedies against infringements thereof, and rights under
applicable Laws of all jurisdictions ("Assigned IP"), except that each of Netzee and its applicable Subsidiaries shall, for a period of one hundred eighty (180) days following the Closing Date,
be permitted to continue to use the word "Netzee" (and its derivatives) in or as its legal corporate name to undertake any acts or activities in connection with the liquidation and dissolution of
Netzee and its Subsidiaries; (vii) all accounts, accounts receivable and notes receivable of Netzee relating to the Business, (including any collateral or security held by Netzee for the
payment thereof and accrued but unpaid interest thereon); (viii) all prepaid expenses and charges paid by Netzee prior to the Closing Date and pertaining to periods after the Closing Date;
(ix) all of Netzee's rights, claims, credits, causes of action or rights of set-off against third parties, including claims pursuant to all warranties, awards, advances, bonds,
deposits, retentions, representations and guarantees made by suppliers, manufacturers, contractors and other third parties in connection with the Purchased Assets but not, in any event claims under
the Business Insurance Policies or any Contracts not included in the Purchased Assets; (x) all claims, rights and choses in action of Netzee against any Person, whether matured or unmatured,
direct or indirect, known or unknown, absolute or contingent relating to the Purchased Assets and/or the Material Business Contracts; (xi) all accepted bids, work in process and outstanding
proposals; (xii) all goodwill associated with Netzee, the Business or the Purchased Assets; (xiii) the Software, in both electronic and paper form, and all rights thereunder, remedies
against infringements 

6

 

thereof and rights to protection of interests therein under the applicable Laws of all jurisdictions; and (xiv) all reference materials used in connection with the Software. 

        (b)  Excluded Assets. Notwithstanding anything to the contrary in this Agreement, the Purchased Assets shall not include the
following assets of Netzee (collectively, the "Excluded Assets"): (i) all cash, restricted cash, cash equivalents and securities of Netzee; (ii) all bank and other depository accounts of
Netzee (excluding any client trust accounts used in connection with the operation of Netzee's electronic bill payment business), and all books, records, stock books, share records, shareholder
agreements, files,
documents, financial records, bills, accounting, internal and audit records, operating manuals, personnel records, Tax Returns, corporate or organizational records, and minute books of Netzee and its
Subsidiaries; (iii) refunds of Taxes and Tax loss carry forwards; (iv) all Business Insurance Policies or other insurance policies relating to the Business, any refunds paid or payable
in connection with the cancellation or discontinuance of any insurance policies applicable to the Business, and any claims made under any such insurance policies (other than "occurrence" based claims
which are subject to Subsection 8.9 hereof); (v) all rights in any assets associated with or allocated to the Benefit Plans; (vi) all rights of Netzee under this Agreement, the Purchase
Price, or any agreement, certificate, instrument or other document executed and delivered by Certegy in connection with the transactions contemplated by this Agreement; and (vii) the right, for
a period of one hundred eighty (180) days following the Closing, of each of Netzee and its applicable Subsidiaries to continue to use the word "Netzee" (and its derivatives) in or as its legal
corporate name to undertake any acts or activities in connection with the liquidation and dissolution of Netzee and its Subsidiaries; (viii) claims under the Business Insurance Policies or any
Contracts not included in the Purchased Assets; (ix) all claims, rights and choses in action of Netzee against any Person, whether matured or unmatured, direct or indirect, known or unknown,
absolute or contingent that do not relate to the Purchased Assets and/or the Material Business Contracts; and (x) those assets specifically identified in Schedule 4.1(b)(x) which
are needed for the dissolution and liquidation of Netzee after the Closing. 

        4.2  Assumption of Liabilities.

        (a)  Assumption. Subject to the terms and conditions set forth in this Agreement, at the Closing Certegy shall assume from
Netzee and agree to pay when due, perform and discharge in accordance with the terms thereof, the following Liabilities of Netzee existing at Closing to the extent that they relate to the Business or
the Purchased Assets (collectively, the "Assumed Liabilities"): (i) all Liabilities of Netzee arising after the Closing Date under: (A) the Material Business Contracts; or
(B) Contracts not required to be listed on Schedule 6.6(a) entered into by Netzee after the Effective Date of this Agreement; except to the extent those Liabilities should have been
paid, performed or otherwise discharged on or prior to the Closing Date or to the extent the same arise out of any breach or default by Netzee; and (ii) all obligations to fulfill unfulfilled
terms of the Client Contracts outstanding on the Closing Date. It is understood and agreed that nothing in this Subsection 4.2(a) shall constitute a waiver or release of any claims arising out of the
contractual relationships between Netzee and Certegy. 

        (b)  Excluded Liabilities. Except for the Assumed Liabilities specifically identified in this Agreement, Certegy shall not
assume or in any way be responsible for any Liabilities of Netzee or its Affiliates relating to or arising out of the operation of the Business or the ownership of the Purchased Assets on or prior to
the Closing Date (whether or not disclosed on a schedule), and Netzee shall indemnify Certegy from and against all such Liabilities. Without limiting the foregoing sentence, and notwithstanding
anything in Subsection 4.2(a) to the contrary, the Assumed Liabilities shall not include, and Certegy shall not assume, any of the following Liabilities (collectively, "Excluded Liabilities") of
Netzee or its Affiliates relating to or arising out of the 

7

 

operation of the Business or the ownership of the Purchased Assets on or prior to the Closing Date, including those that relate to or arise out of: (i) any of the Excluded Assets;
(ii) Taxes of any nature, other than transfer Taxes as described in Subsection 8.6; (iii) any Liabilities or responsibilities relating to the employment or termination of employment by
Netzee or its Affiliates of any Person attributable to
any action or inaction by Netzee or its Affiliates on or prior to the Closing Date, including with respect to any Benefit Plan or arrangement of Netzee or its Affiliates, or any severance retention,
stay bonus or similar obligations owed by Netzee or its Affiliates to any Person (including the Transferred Employees), subject to Subsection 8.7; (iv) any Liability of Netzee in connection
with this Agreement or any Operative Agreement for legal, accounting or broker's fees, Taxes (other than as set forth in Subsection 8.6) or other transaction costs incurred by Netzee or its Affiliates
in connection with this Agreement or the consummation of the transactions contemplated by this Agreement; (v) any Liability owed by Netzee to any shareholder or former shareholder of Netzee or
to any Affiliate or former Affiliate of Netzee; (vi) any Liability relating to Netzee's bank accounts that accrued or relate to events that occur prior to the Closing Date; (vii) any
Liabilities resulting from any Action (whether or not pending or threatened on the date hereof and whether or not disclosed on any schedule), including but not limited to any claim related to
noncompliance by Netzee with any applicable Law or the failure of Netzee to comply with or the breach of or default by Netzee under any Contract; (viii) any Liabilities for indebtedness of
borrowed money, letters of credit, capital leases or installment purchases; (ix) any Liabilities relating to the Business, the Purchased Assets or Netzee under any applicable Environmental Law
with respect to the time period prior to the Closing Date; and (x) any other Liabilities not expressly assumed by Certegy in this Agreement. 

        4.3  Consideration for Purchased Assets.

        (a)  Consideration. Subject to Subsection 4.3(b), the purchase price ("Purchase Price") for the Purchased Assets shall be:
(i) ten million, four hundred thousand dollars ($10,400,000.00) in cash, subject to adjustment as provided in Subsection 4.3(b) ("Cash Payment"); and (ii) the assumption by Certegy of
Assumed Liabilities pursuant to Subsection 4.2. 

        (b)  Accounts Receivable Adjustment. On the Closing Date, Netzee shall execute and deliver to Certegy a certificate ("Accounts
Receivable Certificate") in the form attached to this Agreement as Schedule 4.3(b). The Accounts Receivable Certificate shall set forth the total
outstanding balance of all Accounts Receivable in existence for the Business as of the Closing Date ("Closing Date Accounts Receivable") and the name of the account debtor thereon. If the Closing Date
Accounts Receivable are less than eight hundred thousand dollars ($800,000.00), the Purchase Price shall be reduced, dollar for dollar, by the amount by which the Closing Date Accounts Receivable are
less than eight hundred thousand dollars ($800,000.00). If the Closing Date Accounts Receivable are equal to or greater than eight hundred thousand dollars ($800,000.00) there shall be no upwards
adjustment of the Purchase Price. 

        (c)  Allocation of Purchase Price. The Purchase Price will be allocated by the parties in writing, through arm's-length
negotiation, prior to Closing and will properly reflect the fair market value of the Purchased Assets. The allocations under this subsection will be binding on all parties for all tax purposes in
connection with the purchase and sale of the Purchased Assets and will be consistently reflected by each party on its respective tax returns. 

        5.    Closing. 

        5.1  Time and Place. The consummation of the transactions contemplated by this Agreement shall take place at a closing
("Closing") at the offices of Netzee, 6190 Powers Ferry Road, Suite 400, Atlanta, Georgia 30339, to be held on the third Business Day after satisfaction and fulfillment or, if possible, of the
conditions set forth in Section 9 pursuant to the terms thereof (other than those conditions to be satisfied simultaneously at the Closing), but, in any event, on or prior to 

8

 

January 15, 2003 unless another time, date or place is mutually agreed upon in writing by Netzee and Certegy. The date of the Closing is referred to as the "Closing Date." 

        5.2  Closing Deliveries of Netzee. At the Closing, upon satisfaction or waiver of the conditions set forth in Subsection 9.2,
Netzee shall deliver, or cause to be delivered, to Certegy each of the instruments, certificates and other documents set forth in Subsection 9.2. 

        5.3  Closing Deliveries of Certegy. At the Closing, upon satisfaction or waiver of the conditions set forth in Subsection 9.1,
Certegy shall pay and deliver, or cause to be paid and delivered, to Netzee: (i) nine million six hundred thousand dollars ($9,600,000.00) of the Cash Payment ("Closing Cash Payment") by wire
transfer of immediately available funds to a bank account of Netzee, the instructions for which are attached as Exhibit A; (ii) eight
hundred thousand dollars ($800,000.00), representing the balance of the Cash Payment, ("Indemnity Escrow Amount") by wire transfer of immediately available funds to a separate, segregated account of a
financial institution selected by Certegy ("Indemnity Escrow Agent"), the wire transfer instructions for which shall be set forth in an indemnity escrow agreement by and among Certegy, Netzee and the
Escrow Agent in the form attached as Exhibit B ("Indemnity Escrow Agreement") (The Indemnity Escrow Amount shall be held and disbursed by the
Indemnity Escrow Agent as provided in the Indemnity Escrow Agreement): and (iii) deliver, or cause to be delivered, to Netzee each of the instruments, certificates and other documents set forth
in Subsection 9.1. 

        6.    Representations and Warranties of Netzee. Netzee represents and warrants to Certegy that each of the following is true and
correct: 

        6.1  Organization. Netzee is a corporation duly organized, validly existing, and in good standing under the Laws of the State
of Georgia, with all requisite corporate authority to own, operate or lease the Purchased Assets as they are now owned, operated or leased, and to conduct the Business as presently conducted. Netzee
has furnished to Certegy true and complete copies of its Articles of Incorporation and Bylaws, updated copies of each to be provided to Certegy by Netzee if amended prior to the Closing Date.  Schedule 6.1 sets forth a complete and accurate list of all of Netzee's Subsidiaries and all jurisdictions in which Netzee or its Subsidiaries
are qualified as foreign corporations. Netzee is not required to so qualify in any jurisdiction other than those listed in Schedule 6.1, except
where any failure to so qualify would have an adverse affect on Certegy or the Purchased Assets. 

        6.2  Authority. Netzee has all requisite corporate power and authority to enter into and deliver this Agreement and the
Operative Agreements, to perform its obligations under this Agreement and the Operative Agreements, and, subject to obtaining the approval of Netzee's shareholders, to consummate the transactions
contemplated by this Agreement and the Operative Agreements. The execution and delivery by Netzee of this Agreement and the Operative Agreements, the performance by Netzee of its obligations under
this Agreement and the Operative Agreements and the consummation by Netzee of the transactions contemplated by this Agreement and the Operative Agreements have been duly authorized by the Board of
Directors of Netzee in accordance with the Articles of Incorporation and Bylaws of Netzee. This Agreement has been, and the Operative Agreements shall be, duly executed and delivered by Netzee. This
Agreement constitutes, and each of the Operative Agreements to which Netzee is a party when so executed and delivered will constitute, a legal, valid and binding obligation of Netzee, enforceable
against it in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws that
affect the enforcement of creditor's rights against Netzee generally or general principles of equity, whether considered in a proceeding at law or in equity. 

        6.3  Required Consents. Except for the consents specified on  Schedule 6.3, no consent, order, authorization, approval, declaration or filing, including, without
limitation, any consent, approval or 

9

 

authorization of or declaration or filing with any Governmental Authority or other Person or any party to a Material Business Contract or other Contract which will be an Assumed Liability, is
required on the part of Netzee for or in connection with the execution, delivery or performance of this Agreement or the Operative Agreements or to the knowledge of Netzee, the conduct of the Business
by Certegy after the Closing, or to prevent a default under any Contract. Netzee has no reason to believe that any of the required consents and approvals will not be obtained. Subject to obtaining the
consents specified on Schedule 6.3, and except for material defaults which have been waived or which are cured or rendered moot by payment or
discharge of the obligation at Closing, the execution, delivery and performance of this Agreement and the other instruments and agreements contemplated by this Agreement by Netzee will not result in
any violation of, be in conflict with, or constitute a default (with or without the giving of notice and/or passage of time) under, any Articles of Incorporation, bylaw, License, Law, Contract, or
Governmental Order to which Netzee is a party or by which Netzee is bound. 

        6.4  Equipment and Tangible Property. Schedule 6.4 contains a list of
all equipment and tangible personal property (except for non-capitalized leased equipment) of Netzee included in the Purchased Assets with a value in excess of one thousand dollars
($1,000.00). All such property is adequate and usable for the purpose for which it is currently used. 

        6.5  Intellectual Property and Proprietary Rights. Schedule 4.1(a)(vi) contains a complete and accurate list of all
Intellectual Property owned by Netzee that is used in the Business, and all such Intellectual Property is included in the Assigned IP and the Purchased Assets. Other than as listed in  Schedule 6.5 and expiration by operation of Law, there is no reasonably foreseeable or threatened expiration of any Assigned IP. Netzee has taken
commercially reasonable and appropriate actions to maintain and protect against known or suspected infringements of the Assigned IP. Netzee has title to, or valid and continuing licenses to use, all
Assigned IP. As of Closing, Netzee assigns all ownership in the Assigned IP to Certegy. Except as set forth in Schedule 6.5, none of the Assigned
IP is subject to any
Encumbrances. The Assigned IP includes all of the proprietary rights necessary to conduct the Business as currently conducted. Except as set forth in  Schedule 6.5, the use of the Assigned IP in the
Business does not infringe upon the proprietary rights of any Person and there are no present or,
to Netzee's knowledge, threatened Actions relating to the Assigned IP by any Person. Except as set forth in Schedule 6.5, there are no pending,
or to Netzee's knowledge, threatened proceedings or litigation or other adverse claims by any Person against Netzee relating to its ownership or use of any Assigned IP. Except as listed on  Schedule 6.5, no Person has or is materially infringing or diluting any of Netzee's rights in or to the Assigned IP. Except as set forth on
Schedule 6.5, none of the Netzee Marks included in the Purchased Assets has been abandoned, and the Netzee Marks and copyrights included in the
Purchased Assets are not subject to any outstanding Governmental Order, written restriction or agreement restricting their scope of use. Each of the registered Netzee Marks and copyrights set forth in  Schedule 4.1(a)(vi)
were duly registered, and such registrations will remain in full force and effect as of the Closing. Except as set forth on  Schedule 6.5, Netzee has not granted any license
(other than such licenses and permissions for one-time or limited use granted in the
ordinary course of business) to any Person to use any of the Assigned IP. Except as set forth in Schedule 6.5, no Assigned IP is subject to any
transfer, assignment, or site limitations. All Assigned IP includes, to the extent applicable, the source code, system documentation, statements of principles of operation and schematics, as well as
any pertinent commentary, explanation, program (including compilers), techniques, tools, and higher level or "proprietary" language used for development, maintenance, implementation and/or use, so
that a trained computer programmer could develop, maintain, support, compile and use all releases or separate versions. There are no agreements or arrangements in effect with respect to the marketing,
distribution, licensing or promotion of the Assigned IP by any Person other than as disclosed in Schedule 4.1(a)(vi). All employees, agents,
consultants or contractors who contributed to or participated in the creation or 

10

 

development of any of the Assigned IP: (i) are a party to a "work-for-hire" agreement under which Netzee or its predecessor in interest is deemed to be the original
owner/author of all property rights therein; or (ii) have executed an assignment or an agreement to assign to Netzee or its predecessor in interest all right, title and interest in such
material. 

        6.6  Material Business Contracts.

        (a)  Schedule 4.1(a)(vi) contains a complete and accurate list of all Contracts of Netzee to be assigned to, or assumed
by, Certegy that relate to the Business, including all Client Contracts and Real Property Leases, (each, a "Material Business Contract" and, collectively, the "Material Business Contracts"). Other
than as disclosed by Netzee in any public filings made to the SEC, Schedule 6.6(a) contains a complete and accurate list of the following
Contracts that relate to the Business: (i) Real Property Leases; (ii) Contracts with respect to which Netzee has any Liability that equals or exceeds ten thousand dollars ($10,000.00),
contingent or otherwise, or which may extend for a term of greater than one (1) year after the Closing Date; (iii) Contracts with any Person which purport to restrict the business
activities of Netzee, restrict the use of the Business's information or restrict the use of the Software in any location, including any covenant not to compete or any Contracts imposing exclusive
dealing obligations; (iv) employment, collective bargaining, severance, stay bonuses, retention, consulting, employee benefit and similar plans and agreements; (v) agreements under which
Netzee is obligated to indemnify or hold harmless, or entitled to indemnification from, any other Person, or agreements under which Netzee is obligated to pay liquidated damages; (vi) Contracts
under which the amount payable by Netzee is dependent on the revenues or income or similar measure of the Business, or in which Netzee is obligated to pay royalties, commissions or similar payments to
any person or entity; (vii) pledges,
security agreements, sale/leaseback arrangements and equipment leases; (viii) material license and other similar arrangements where Netzee is either licensee or licensor with respect to any
Proprietary Rights, the Software or any Business's databases; (ix) Contracts to which Netzee is a party relating to the borrowing of money, the capital lease or purchase on an installment basis
of any asset, or the guarantee of any of the foregoing, if any of the foregoing has or could create a security interest, lien or other encumbrance on the Purchased Assets; (x) joint venture,
strategic alliance, partnership or other similar agreements; (xi) any Contracts relating to the lease, license or rental of any data, information or lists, whether Netzee is the provider or
consumer of such information; (xii) to the extent not already specifically listed, any other Contract or agreement material to Netzee or the Business; (xiii) the forms of Netzee's
standard form service agreement and a complete and accurate list of all clients that are a party to such agreements; (xiv) all Client Contracts; and (xv) all material agreements with
suppliers, vendors, manufacturers, contractors and other third parties in connection with the Business. Schedule 6.6(a) includes with respect to
each Material Business Contract, the names of the parties, the date thereof (to the extent readily available to Netzee), and the title or other general description of the Agreement. Netzee has
furnished Certegy with copies of all Material Business Contracts (or written summaries, in the case of Material Business Contracts that are oral) and any further information that Certegy has
reasonably requested in connection therewith. 

        (b)  Except
as set forth in Schedule 6.6(b): (i) each Material Business Contract represents a valid, binding and
enforceable obligation of Netzee in accordance with the respective terms thereof and, to the knowledge of Netzee, represents a valid, binding and enforceable obligation of each of the other parties
thereto; (ii) there have been no amendments, modifications or supplemental arrangements to or in respect of any Material Business Contract; (iii) with respect to each Client Contract,
there are no Client Contracts that materially vary from the master form or forms provided to Certegy; and (iv) there is no event 

11

 

which has occurred or an existing condition (including the execution and delivery of this Agreement and the consummation of the transactions contemplated by this Agreement) that constitutes or that,
with notice, the happening of an event and/or the passage of time, would constitute a default or breach under any Material Business Contract by Netzee, or would cause the acceleration of any
obligation of Netzee, give rise to any right of termination or cancellation by any party other than Netzee, or cause the creation of any Encumbrance on any of the Purchased Assets. To the knowledge of
Netzee there is no reason to expect that a party to a Material Business Contract will not fulfill its obligations thereunder in all material respects after the Closing. 

        6.7  Business Licenses. Netzee owns or possesses all right, title and interest in and to all Business Licenses which are
necessary as of the Effective Date to conduct the Business as currently conducted. Schedule 6.7 contains a list of all Business Licenses. All
such Business Licenses are in full force and effect, and Netzee is not in material violation of the terms of any such Business License. No loss or expiration of any such Business License is pending
or, to the knowledge of Netzee, threatened. 

        6.8  Business Employees.

        (a)  Schedule 6.8(a) lists all employees of Netzee who, as of the Effective Date, have employment duties primarily
related to the Business, including (and designating as such) any such employee who is an inactive employee on paid or unpaid leave of absence, short-term disability or
long-term disability, and indicating date and location of employment, current title, compensation, and other benefits accrued as of a recent date. To Netzee's knowledge, no employee of
Netzee is obligated under any Contract, or subject to any Governmental Order, that would interfere with that employee's duties to Netzee or Certegy (if such employee is a Transferred Employee) or that
would conflict or interfere with the Business. 

        (b)  None
of the Transferred Employees is or has been covered by union or collective bargaining agreements or are represented by a labor organization with respect to their
employment by Netzee. There are no existing, pending or threatened strikes, work stoppages or lockouts related to the Transferred Employees. There are no union organizational campaigns in progress
with respect to the Transferred Employees or any questions concerning representation with respect to such Transferred Employees. There are no unfair labor practice charges or complaints pending or
threatened against Netzee with the National Labor Relations Board. Netzee complies in all material respects with all applicable Laws regarding employment and employment practices. 

        6.9  Employee Benefit Plans. No Netzee Benefit Plan is or has ever been subject to Title IV of ERISA. Netzee does not and will
not have any liability under or with respect to any Benefit Plan that would (i) impose a lien on the Purchased Assets on or after the Closing Date, or (ii) affect Certegy's right, title
or interest in the Purchased Assets on and after the Closing Date. 

        6.10 Financial Information. Set forth as Schedule 6.10 are
(i) the consolidated balance sheets, statements of income and statements of cash flows of Netzee and its Subsidiaries as of and for each of the years ended December 31, 2000 and
December 31, 2001, as audited by Arthur Andersen LLP (collectively, the "Year-End Statements"); (ii) the unaudited consolidated statements of income of Netzee and its
Subsidiaries as of and for the ten (10) month period ended October 31, 2002 ("Stub Statements"), and an unaudited consolidated balance sheet for Netzee and its Subsidiaries as of
October 31, 2002 ("Balance Sheet") and together with all of the foregoing financial information, collectively, the "Financial Information"). The Financial Information has been prepared from
books and records maintained by Netzee consistent with past practice and in accordance with GAAP, except that: (i) footnotes have been omitted from the Stub Statements; (ii) software
capitalization for the month ended October 31 2002 has not been 

12

 

recorded; and (iii) the Stub Statements are subject to normal year-end adjustments, accruals and cut-offs which, except as set forth in  Schedule 6.10, are not material in the aggregate. Each
of the Year-End Statements and the Stub Statements fairly present in all
material respects the financial condition of Netzee and its consolidated Subsidiaries at the respective dates thereof and the results of operations of Netzee and its consolidated Subsidiaries for the
years ended December 31, 2000 and December 31, 2001, and for the ten (10) month period ended October 31, 2002, respectively, all in accordance with GAAP as described in the
Year-End Statements. 

        6.11 Real Property. The Purchased Assets do not include any owned real property.  Schedule 4.1(a)(i) sets forth each interest in real property leased or subleased by
Netzee and used in the Business. Copies of each Real Property
Lease listed in Schedule 4.1(a)(i) have been delivered to Certegy. With respect to each such lease or sublease, Netzee is the sole tenant for the
space leased or subleased and does not share with or sublet to any other Person any such space. Netzee is not in default under any such lease or sublease and has not been informed that the lessor or
sublessor, as the case may be, under any of the leases or subleases has taken action or threatened to terminate the lease or sublease before the expiration date specified in the lease or sublease. 

        6.12 Litigation; Governmental Orders. Except as set forth in  Schedule 6.12, there are no, and since January 1, 2000 there have not been any, pending or, to the
knowledge of Netzee, threatened Actions
(or any basis therefor) by any Person or Governmental Authority against or relating to Netzee or the Business or to which any of the Purchased Assets are subject, or against any Affiliate, director or
executive officer of Netzee with respect to the Business or the Purchased Assets. Except as set forth in Schedule 6.12, Netzee is not subject to
or bound by any Governmental Order relating to the Business or the Purchased Assets. No director, executive officer or Affiliate of Netzee is subject to or bound by any Governmental Order which
relates to the affairs of the Business. Except as set forth in Schedule 6.12, there are no facts or circumstances that may result in the
institution of any Action involving or affecting Netzee, or the transactions contemplated by this Agreement and the Operative Agreements. Except as set forth on  Schedule 6.12, there is no Action by
Netzee pending or threatened against others. 

        6.13 Compliance with Laws. Except as set forth on Schedule 6.13,
Netzee has complied in all material respects with all applicable Laws and all Governmental Orders applicable to it and Netzee has not received any claim or notice that it is not in compliance with any
such Law or Governmental Order. 

        6.14 Environmental Matters. Except as disclosed in Schedule 6.14:
(i) the use by Netzee of the Leased Real Property, the occupancy and operation thereof, and the conduct of Netzee's operations are in compliance in all material respects with all Environmental
Laws; (ii) Netzee has obtained all Licenses, kept all records and made all filings required by applicable Environmental Laws with respect to a Spill of a Hazardous Substance;
(iii) Netzee has never knowingly permitted the Spill of a Hazardous Substance on the Leased Real Property nor is there, to Netzee's knowledge, a basis for any Action by any Person or
Governmental Authority alleging a violation of or Liability under any Environmental Law; (iv) Netzee has not received any notice from any Governmental Authority concerning the violation or
alleged violation of any Environmental Law; and (v) Netzee has not transported or arranged for the treatment, storage, or disposal of any Hazardous Substances in connection with the Business
that has resulted in a Liability or is reasonably likely to lead to any Liability to Netzee under applicable Environmental Laws. 

        6.15 Insurance. Netzee maintains insurance on the Purchased Assets and the Business, covering such risks, in such amounts,
with such terms and with such insurers as Netzee has determined is appropriate in light of the Business ("Business Insurance Policies"). Schedule 6.15  contains a list and brief description of all
Business Insurance Policies or binders of insurance held 

13

 

by or on behalf of Netzee that provide coverage for any of the Purchased Assets or assets used in connection with the Business (in each case specifying the insurer, the amount of coverage, and the
type of insurance). All premiums due under the Business Insurance Policies have been paid and Netzee is not in any material default under or in material breach of its obligations under any of the
Business Insurance Policies. 

        6.16 Transactions with Affiliates. Except as set forth in Schedule 6.16  or as reported in Netzee's filings with the SEC, no Affiliate of Netzee (a) has an
outstanding loan of money from or to Netzee; (b) has any interest in any of the
Purchased Assets; (c) provides any services to Netzee; (d) is a party with Netzee to any Contract which relates to the Business or the Purchased Assets; or (e) competes with the
Business. 

        6.17 Taxes.

        (a)  Except
as set forth in Schedule 6.17(a), all Tax Returns required to be filed by or on behalf of Netzee have been
duly filed on a timely basis. All copies of such Tax Returns that have been provided to Purchaser are true and correct. Except as set forth in  Schedule 6.17(a), all Taxes owed by Netzee for or with
respect to any taxable period or partial taxable period of Netzee ending on or before the
Closing Date have been paid or will be timely paid by Netzee prior to the Closing to the extent due. Certegy has been supplied with true and complete copies of each Tax Return of Netzee based on
income filed for the last three (3) taxable years. Netzee: (i) has never been audited or received notice of initiation thereof by any governmental taxing authority for which the statute
of limitations for assessment of Taxes remains open; (ii) has never extended any applicable statute of limitations regarding Taxes for which the statute of limitations for assessment of Taxes
remains open; (iii) is not, contractually or otherwise, liable for the Taxes of any other Person (other than Taxes arising in the ordinary course of business); (iv) is not a "consenting
corporation" under Section 341(f) of the Code; (v) has not agreed to nor is required to make any adjustment under Code Section 481(a) or 263A (in each case as a result of any
examination by a taxing authority); (vi) has never made any payments, is obligated to make any payments, or is a party to any agreement or arrangement that under certain circumstances could
obligate it to make any payments that may not be deductible under Section 280G of the Code; (vii) is not a party to any allocation or sharing agreement with respect to Taxes; and
(viii) is a "United States person" as such term is used in Code Section 1445. 

        (b)  No
property used by Netzee is "tax-exempt use property" within the meaning of Section 168(h) of the Code. None of the Purchased Assets secures any
debt the interest on which is tax-exempt under Section 103(a) of the Code. 

        (c)  There
are no security interests in any of the Purchased Assets that arose in connection with any failure (or alleged failure) to pay any Tax. 

        6.18 Absence of Changes or Events. Except as set forth in  Schedule 6.18, Netzee has operated the Business only in the usual and ordinary course since November 1,
2002, and since November 1,
2002 there has not
been: (i) any event, circumstance or condition which has had or which would reasonably be expected to have a Material Adverse Change in the Purchased Assets or the Business prior to the
Closing; (ii) any damage, destruction or casualty loss, whether covered by insurance or not, which individually or in the aggregate exceeds twenty-five thousand dollars
($25,000.00); (iii) any acquisition or sale, transfer or other disposition of assets other than in the ordinary course of business consistent with past practice or any Encumbrances placed upon
any assets of Netzee; (iv) any increase in compensation of any Transferred Employees except in the usual and ordinary course of business; and (v) except as expressly contemplated by this
Agreement, any entry into any agreement, commitment or transaction (including, without limitation, any borrowing or capital financing) by Netzee, which is material to the Business or operations of the 

14

 

Purchased Assets, except agreements, commitments or transactions in the ordinary course of business consistent with past practices. Except as disclosed in  Schedule 6.18, since November 1, 2002,
 Netzee has not taken any action that would have been prohibited under Subsection 8.1 of this
Agreement had this Agreement been in effect. 

        6.19 Sufficiency of Assets. The Purchased Assets include all assets necessary for the conduct of the Business and are
adequate to conduct the operations of the Business as currently conducted. The Material Business Contracts include all Contracts necessary for the conduct of the Business. Except as set forth in  Schedule 6.19, Netzee has title to or a valid leasehold or license interest in each item of personal property used by it in the Business and
included in the Purchased Assets free and clear of any Encumbrances other than Permitted Encumbrances. The consummation of the Transactions contemplated by the Agreement and the Operative Agreements
will not impair the ability of Certegy to use the Purchased Assets. Without limiting the foregoing, and except as disclosed on Schedule 6.19, no
assets used in the Business are owned by any Affiliates of Netzee. Netzee's current ownership, use and/or occupancy of the Purchased Assets does not violate any instrument, agreement, restriction or
Law affecting the Purchased Assets. 

        6.20 Brokers. Except for Jeffrey P. John, CFA (whose fees shall be paid by Netzee), no finder, broker, or financial advisor
has acted on behalf of Netzee in connection with the negotiation or consummation of this Agreement or the transactions contemplated herein. 

        6.21 Accounts Receivable. The accounts receivable (net of any reserves) of Netzee as reflected in the Financial Information
are, and the accounts receivable (net of any reserves) of Netzee as reflected in the Accounts Receivable Certificate will be, valid and enforceable claims, subject to no set-off or
counterclaim. All such accounts receivable represent monies due for services rendered or goods sold and delivered in bona fide transactions in the ordinary course of business.  Schedule 6.21 contains a complete and accurate list of all accounts receivable as of the date of the Stub Statement. 

        6.22 Prepaid Subscriptions. Schedule 6.22 is a list, as of the date of
the Stub Statement, of the outstanding prepaid subscription payments relating to the Business, the dollar amount of services to be performed, and the type of services to be performed in consideration
of such prepayment, all segregated by the year for which the related subscription are to be fulfilled. Netzee shall not, between the Effective Date
and the Closing Date, bill for or accept prepayment for services that represent more than twelve (12) months of prepayment from any customer or client. 

        6.23 Absence of Undisclosed Liabilities. Except as set forth in  Schedule 6.23, Netzee has no liabilities other than: (a) the Excluded Liabilities; (b) the
liabilities reflected in the Stub
Statement; (c) liabilities of future performance under the Material Business Contracts and Business Licenses; (d) liabilities that have arisen since November 1, 2002 in the
ordinary course of business or otherwise in accordance with this Agreement; and (e) liabilities disclosed on the schedules to this Agreement. 

        6.24 Books and Records. Netzee has made available to Certegy the minute books of Netzee, and such minute books contain true
and correct, in all material respects, records of all material corporate action taken by the shareholders and directors of Netzee. 

        6.25 Bank Accounts; Lock Boxes. With respect to any bank or lock box account used by the Business that is among the Purchased
Assets, Schedule 6.25 sets forth a true, correct and complete list showing the name and address of the banking institution at which Netzee
maintains such account or lock box, the account numbers or box numbers relating thereto, and the name of each person authorized to draw thereon or to have access thereto.  Schedule 6.25 also sets
forth any powers of attorney granted by or to Netzee or any other Person with respect to such accounts. 

15

  

        6.26 Projections. The projections set forth on Schedule 6.26 relating
to the Business were prepared by Netzee in good faith and were based on assumptions Netzee believed were reasonable. 

        6.27 Disclosure. The representations, warranties and other statements of Netzee contained in this Agreement, the Operative
Documents and the other documents, certificates and written statements furnished to Certegy by or on behalf of Netzee pursuant hereto or thereto, do not contain any untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements contained herein and therein not misleading in light of the circumstances in which they were made. 

        6.28 Business Performance. The Business has in excess of seven hundred and fifty (750) current financial institution
customers (the determination of this number shall be consistent with Netzee's past counting practices) unless the failure to have such number was caused by any communication by or on behalf of
Certegy, or one of its Affiliates, to such customers. For the immediately preceding twelve (12) month period, the Business shall have generated in excess of fifteen million dollars
($15,000,000.00) in revenue, as determined in accordance with past business practice. The Business has had positive earnings before interest, taxes, depreciation and amortization during the
immediately preceding twelve (12) month period, as determined in accordance with past business practice. 

        7.    Representations and Warranties of Certegy. Certegy represents and warrants to Netzee that each of the following is true
and correct: 

        7.1  Organization. Certegy is a corporation duly organized, validly existing and in good standing under the Laws of the State
of Georgia, and has the corporate power and authority to own all its properties and assets and to carry on its business as it is conducted, or is proposed to be conducted after the consummation of the
transactions contemplated by the Agreement and the Operative Agreements. 

        7.2  Authority. Certegy has all requisite corporate power and authority to enter into and deliver this Agreement and the
Operative Agreements to which it is a party, to perform its obligations under this Agreement and the Operative Agreements, and to consummate the transactions contemplated by this Agreement and the
Operative Agreements. The execution and delivery by Certegy of this Agreement and the Operative Agreements to which it is a party, the performance by Certegy of its obligations under this Agreement
and the Operative Agreements to which it is a party, and the consummation by Certegy of the transactions contemplated by this Agreement and the Operative Agreements have been duly authorized by all
necessary corporate action of Certegy. No other corporate or shareholder action
on the part of Certegy is necessary to authorize the execution and delivery of this Agreement and the Operative Agreements to which Certegy is or shall be a party. This Agreement has been, and the
Operative Agreements to which Certegy is a party shall be, duly executed and delivered by Certegy. This Agreement constitutes, and each of the Operative Agreements to which Certegy is a party when so
executed and delivered, will constitute, a legal, valid and binding obligation of Certegy, enforceable against Certegy in accordance with its terms. 

        7.3  Required Consents. No consent, order, authorization, approval, declaration or filing, including, without limitation, any
consent, approval or authorization of or declaration or filing with any Governmental Authority or other Person or other Contract, is required on the part of Certegy for or in connection with the
execution, delivery or performance of this Agreement or the Operative Agreements. The execution, delivery and performance of this Agreement and the other instruments and agreements contemplated by
this Agreement by Certegy will not result in any violation of, be in conflict with, or constitute a default (with or without the giving of notice and/or passage of time) under, the Articles of
Incorporation or Bylaws of Certegy, or under any License, 

16

 

Law, Contract, or Governmental Order to which Certegy is a party or by which it is bound, the impact of which would adversely affect Certegy's ability to perform its obligations pursuant to this
Agreement or the Operative Agreements to which it is a party. 

        7.4  Brokers. No finder, broker, or financial advisor has acted on behalf of Certegy in connection with the negotiation or
consummation of this Agreement or the Operative Agreements or the transactions contemplated herein or therein. 

        7.5  Litigation; Governmental Orders. There are no pending or, to the knowledge of Certegy, threatened Actions by any Person
or Governmental Authority against Certegy, or against any director or executive officer of Certegy, which would adversely affect Certegy's ability to perform its obligations pursuant to this Agreement
or the Operative Agreements to which it is a party. No director or executive officer of Certegy is subject to or bound by any Governmental Order which would adversely affect Certegy's ability to
perform its obligations pursuant to this Agreement or the Operative Agreements to which it is a party. 

        7.6  Financial Capability. Certegy has or will have on the Closing Date sufficient cash to pay the Purchase Price to Netzee as
required by Subsection 5.3. 

        8.    Covenants and Agreements. 

        8.1  Conduct of Business.

        (a)  Required Conduct. At all times prior to the Closing, unless Certegy shall otherwise consent in writing, Netzee shall
conduct the operations of the Business in the ordinary course of business and consistent with its past practices. Without limiting the foregoing, Netzee shall: (i) use commercially reasonable
efforts to maintain its corporate existence; (ii) use commercially reasonable efforts to preserve intact the Purchased Assets and the Business; (iii) use commercially reasonable efforts
to retain all related Business Licenses; (iv) use commercially reasonable efforts to preserve its present relationships with customers, suppliers and others having business relations with the
Business; (v) maintain the Assigned IP in a manner consistent with past practice; (vi) use commercially reasonable efforts to maintain the books, accounts and records of the Business in
the ordinary course of business consistent with past practice; (vii) pay and discharge when due (including extensions) all Taxes, assessments and governmental charges imposed upon any of the
Purchased Assets or the Business, or upon the income or profit therefrom (other than those contested in good faith by appropriate proceedings); (viii) comply in all material respects with all
Material Business Contracts and any other obligations under Contracts to be included as an Assumed Liability, for so long as such Contracts have not expired or been terminated by any party thereto;
(ix) comply in all material respects with applicable Law including, without limitation, with respect to any conduct of Netzee relating to the Transferred Employees; (x) pay all trade
payables (other than those contested in good faith by appropriate proceedings) in accordance with their terms and consistent with past practice; (xi) use commercially reasonable efforts to
update representatives of Certegy from time to time regarding the general status of the Business; (xii) use commercially reasonable efforts to notify Certegy of any emergency or other material
change in the normal course of the operation of the Business; and (xiii) notify Certegy of any Governmental Order or third party complaints or investigations threatened or commenced against
Netzee (or communications indicating that such action may be contemplated). 

        (b)  Prohibited Conduct. Without limiting the generality of the foregoing, prior to the Closing, without the prior written
consent of Certegy, or except as otherwise expressly permitted or required by this Agreement, Netzee shall not, nor shall it permit any of its officers, directors, employees or advisors to:
(i) increase the compensation, benefits or severance arrangement of any Transferred Employee, or pay or agree to pay to any 

17

 

Transferred Employee any bonus or similar payment, except for such increases in compensation or payments made in the ordinary course of business consistent with past practice; (ii) sell,
transfer, or otherwise dispose of, or agree to sell, transfer or otherwise dispose of, any material assets other than sales, transfers or disposals of, or entry into agreements to sell, transfer or
otherwise dispose of assets in the ordinary course of business consistent with past practice; (iii) enter into any material agreement that would constitute an Assumed Liability, other than any
agreement made in the ordinary course of business consistent with past practice; (iv) amend or terminate any Material Business Contract other than in the ordinary course of business;
(v) accept prepaid subscriptions or other advance payments for Business' services, or otherwise modify its accounting and business policies with respect thereto, other than in the ordinary
course of business consistent with past practice; (vi) other in the ordinary course of business, make any capital expenditures with respect to the Purchased Assets; (vii) take any other
action which would materially and adversely affect or detract from the value of the Purchased Assets or the Business or would reasonably be expected to delay the Closing; (viii) except as
otherwise permitted by this Agreement, disclose to any person, other than Certegy, any proprietary or confidential information related to the Business in connection with a possible acquisition of all
or substantially all the assets or stock of Netzee; (ix) except for (A) borrowings under any credit facility existing as of November 18, 2002, (B) the accrual of dividends
on Netzee's Series B 8% Convertible Preferred Stock or (C) trade or other debts incurred in the ordinary course of business, incur any additional indebtedness; (x) acquire any
equity securities or other interest in any Person or acquire all, or substantially all, of the assets of a
Person; (xi) notify any Person that such Person's actions may constitute an infringement of the Assigned IP; (xii) sell, pledge, assign, or otherwise dispose of, or impair, or grant any
rights with respect to the Assigned IP; (xiii) pay or declare any dividend or distribution on its capital stock; or (xiv) agree to do any of the foregoing. 

        8.2  Access and Information. At all times prior to Closing, Netzee shall permit Certegy and its authorized agents and
representatives to have reasonable access, upon reasonable notice and during normal business hours, to the Purchased Assets and all books, records and documents of or relating to the Business and the
Purchased Assets, and shall furnish to Certegy such information and data, financial records and other documents in its possession relating to the Business and the Purchased Assets as Certegy may
reasonably request. Netzee shall permit Certegy and its agents and representatives reasonable access to its accountants for reasonable consultation or verification of any information obtained by
Certegy during the course of any investigation conducted pursuant to this Subsection 8.2. No investigation or findings of Certegy shall diminish or affect the representations and warranties of Netzee
hereunder or relieve Netzee of any obligation hereunder. 

        8.3  Confidentiality. The terms of the Nondisclosure Agreements are incorporated into this Agreement by reference and shall
continue in full force and effect from the date hereof until the Closing in accordance with their terms. 

        8.4  Further Actions. Subject to the terms and conditions set forth in this Agreement, Netzee and Certegy shall each act in
good faith and use their respective commercially reasonable efforts to take, or cause to be taken, all appropriate action, and to do, or cause to be done, and to assist and cooperate with each other
in doing all things necessary, proper or advisable under applicable Laws to consummate the transactions contemplated by this Agreement. For the sake of clarity, it is understood that the use of
commercially reasonable efforts by Certegy or Netzee shall not include paying any fee (other than fees to legal and accounting advisors) to obtain a third party's consent to the transactions
contemplated by this Agreement. At and after the Closing, and without further consideration, Netzee shall execute and deliver to Certegy such further instruments and certificates of conveyance and
transfer and take such further action as Certegy may reasonably request in 

18

 

order more effectively to convey and transfer the Purchased Assets from Netzee to Certegy, and to put Certegy in operational control of the Business. 

        8.5  Publicity. Netzee and Certegy shall cooperate with each other in the development and distribution of all news releases,
other public disclosures and customer communications relating to the transactions contemplated by this Agreement. Neither Netzee nor Certegy shall issue or make, or allow to be issued or made, any
press release or public announcement or customer communications concerning the transactions contemplated by this Agreement without the consent of the other party, except as otherwise required by
applicable Law, but in any event only after giving the other party a reasonable opportunity to comment on such release or announcement in advance, consistent with such applicable legal requirements. 

        8.6  Transaction Costs. Each party shall pay their own transaction costs and expenses (including any legal, accounting and
other professional fees) incurred in connection with the negotiation, execution and performance of this Agreement and the consummation of the transactions contemplated by this Agreement, whether or
not those transactions are consummated. Notwithstanding the immediately preceding sentence, Certegy shall pay any and all transfer Taxes (including sales, use, recording and real and personal property
transfer Taxes) and the fees and costs of recording or filing all applicable conveyance instruments associated with the transfer of the Purchased Assets from Netzee to Certegy at Closing. Netzee and
Certegy shall cooperate in the preparation, execution and filing of all Tax Returns regarding any transfer Taxes which become payable as a result of the transfer of the Purchased Assets from Netzee to
Certegy pursuant to this Agreement or shall cooperate to seek an available exemption from such Taxes. 

        8.7  Employees and Employee Benefit Matters. Prior to Closing, Certegy shall offer, or cause to be offered, employment, to all
individuals listed on Schedule 8.7 who are then Business Employees (such listed employees, the "Identified Employees"), with such employment to
be effective as of and subject to the Closing. Certegy will offer such Identified Employees employment at the wage rates or base salary and bonus levels that are reasonably comparable, but not
necessarily the same, as those paid by Netzee as of the Closing, and on such other terms and conditions (including benefit plan coverages) that Certegy makes available to its employees generally. The
Identified Employees who accept Certegy's offer of employment are referred to collectively as the "Transferred Employees." Certegy shall have no liability or obligation to any employee of Netzee or
its Affiliates except as expressly set forth in this subsection. Except as expressly provided in this subsection, this Agreement does not restrict the right of Certegy to review and change its
employment policies, terms and benefits at any time or from time to time, or to terminate any employee, including any Transferred Employee. 

        8.8  Retention of and Access to Records. Until Netzee is dissolved in accordance with Law, Netzee shall preserve all books and
records of Netzee that may relate to the Business but are not transferred by Netzee to Certegy pursuant to this Agreement. Upon the effective date of such dissolution, Netzee shall provide Certegy a
reasonable opportunity to obtain copies, at Certegy's sole expense, of any of such books and records, after which time Netzee shall have no further obligation under this Agreement to preserve such
books and records. In addition to the foregoing, from and after the Closing until the effective date of Netzee's dissolution, Netzee shall afford Certegy and its counsel, accountants and other
authorized agents and representatives, during normal business hours, reasonable access to the books, records and other data relating to the Purchased Assets, the Assumed Liabilities, the Transferred
Employees and the Excluded Liabilities in its possession with respect to periods prior to the Closing, and the right to make copies and extracts therefrom, to the extent that such access may be
reasonably required by the requesting party: (a) to facilitate the investigation, litigation and final disposition of any claims which may have been or may be made against any such party or
Person, or its Affiliates, and (b) for the preparation of Tax Returns and audits. 

19

 

        8.9  Insurance. Effective 11:59 p.m. (Eastern Standard Time) on the Closing Date, the Business shall cease to be
insured by Netzee or its Affiliates' insurance policies; provided, however, that with respect to insurance coverage written on an "occurrence basis", to the extent that the Business was insured
under such policies, Certegy shall, with respect to the Business, have rights under such policies to the extent the events giving rise as a claim under such policies occurred prior to 12:00 midnight
(Eastern standard time) on the Closing Date. Netzee agrees to cooperate with Certegy in making claims under Netzee's insurance policies in connection with insurable events that occurred prior to 12:00
midnight (Eastern Standard Time) on the Closing Date, and shall remit any associated recoveries promptly to Certegy. Subject to Section 10 regarding indemnification, with respect to events or
circumstances covered by insurance coverage written on an "occurrence basis," Netzee and its Affiliates will have no liability for occurrences that take place on and after 12:00 midnight (Eastern
Standard Time) on the day following the Closing Date. With respect to events or circumstances covered by insurance coverage written on a "claims made basis," Netzee and its Affiliates will have no
liability for claims made after 11:59 p.m. on the Closing Date. 

        8.10 Exclusivity. From the Effective Date until the Closing, Netzee will not (and shall cause its agents and Affiliates not
to), directly or indirectly: (a) sell or agree to sell, or solicit any proposal from, or initiate or engage in discussions or negotiations with, any Person or group of Persons other than
Certegy and its Affiliates and representatives, concerning any proposal to acquire, directly or indirectly, and through an asset or stock acquisition, merger or other structure, all or substantially
all of the assets of Netzee or the Business; (b) provide confidential information concerning the Business or the Purchased Assets to any such person or group for use in the evaluation of a
potential acquisition of any of the Purchased Assets; or (c) otherwise cooperate in any way with, assist, participate in, facilitate or encourage, any effort or attempt by any other Person to
do or seek any of the foregoing. Netzee will promptly provide Certegy written notice of Netzee's receipt of any proposal described in subpart (a) above. 

        8.11 Covenant Not to Compete. For a period of five (5) years after the Closing Date Netzee covenants and agrees that
it will not directly or indirectly (including by licensing or other partial right transfers): (i) induce or influence any Person to terminate a relationship with Certegy or one of its
Affiliates; or (ii) engage or participate in, acquire, manage, operate, control or participate in the management, operation or control of, either alone or jointly with any corporation,
partnership, joint venture or other business organization or Person that: (a) provides any service that competes with the products and services currently offered by the Business; or
(b) solicits to hire or hires any Transferred Employee or other person employed by Certegy, or any of its Affiliates, subsequent to Closing. The parties agree that the restrictive covenants
contained in this subsection are reasonable under the circumstances and further agree that these covenants should be interpreted so as to be effective and valid under applicable Law. If any one or
more of the provisions contained in this subsection shall be held excessively broad as to duration, geographical scope, activity or subject, such provision shall be construed by limiting or reducing
it so as to be enforceable to the maximum extent compatible with applicable Law. For purposes of this subsection, the terms "Netzee" and "Certegy" shall include their respective successors and
assigns. 

        8.12 Equitable Remedies. Netzee and Certegy each acknowledge that any breach or threatened breach of the provisions of either
of Subsections 8.10 or 8.11 will cause irreparable injury for which an adequate monetary remedy does not exist. Accordingly, in the event of any such breach or threatened breach, Certegy or Netzee, as
applicable, shall be entitled, in addition to the exercise of other remedies, to seek and (subject to court approval) obtain injunctive relief, without necessity of posting a bond restraining the
applicable party from committing such breach or threatened breach. 

        8.13 Intellectual Property. If Netzee or any Person owned or controlled by it, owns or shall at any time acquire any Assigned
IP, such party shall promptly cause such Assigned IP to be 

20

 

immediately transferred to Certegy. Such party shall transfer that property for no additional consideration and through the execution and delivery of such instruments and documents as Certegy
reasonably requests. 

        8.14 Endorsement of Checks. Following the Closing, Netzee authorizes Certegy to endorse for deposit in its name, and collect
for Certegy's account, any checks received in payment of any accounts included in the Purchased Assets, and any refunds of deposits, prepaid expenses and similar amounts included in the Purchased
Assets. In the event any payments due Certegy are received by Netzee, Netzee will promptly turn same over to Certegy. 

        8.15 Meeting of Shareholders.

        (a)  Proxy Statement. As soon as practicable following the execution of this Agreement, Netzee shall prepare and file with the
Securities and Exchange Commission ("SEC") a proxy statement in preliminary form relating to the Shareholders' Meeting (as defined in Subsection 8.15(b)) (such proxy statement as amended or
supplemented from time to time being hereinafter referred to as the "Proxy Statement"). Netzee shall use best efforts to respond to all SEC comments with respect to the Proxy Statement and to have the
Proxy Statement cleared by the SEC as promptly as practicable and to cause the definitive Proxy Statement to be mailed to Netzee's shareholders at the earliest practicable date. Netzee shall notify
Certegy of the receipt of any comments of the SEC with respect to the Proxy Statement and of any requests by the SEC for any amendment or supplement thereto or for additional information and shall
provide to Certegy promptly copies of all correspondence between Netzee or any representative of Netzee and the SEC with respect thereto. Netzee shall give Certegy and its counsel the opportunity to
review the Proxy Statement, including all amendments and supplements thereto, prior to its being filed with the SEC and shall give Certegy and its counsel the opportunity to review all responses to
requests for additional information and replies to comments prior to their being filed with, or sent to, the SEC. Netzee shall use its reasonable best efforts, after consultation with Certegy, to
respond promptly to all such comments of and requests by the SEC. 

        (b)  Meeting of Shareholders. As soon as practicable following the execution of this Agreement, Netzee will take all action
necessary in accordance with applicable Law and its Articles of Incorporation and Bylaws to: (i) hold a meeting of its shareholders ("Shareholders' Meeting") to be held as soon as reasonably
practicable after the execution of this Agreement to consider adoption and approval of: (A) this Agreement; (B) approval of the transactions contemplated hereby and thereby; and
(C) a plan of liquidation and dissolution as set forth in Schedule 8.15(b); (ii) seek to cause the Board of Directors of Netzee to
recommend, in accordance with applicable Law, that the shareholders of Netzee approve and adopt this Agreement and the transactions contemplated hereby; (iii) include the recommendation of the
Board of Directors in the Proxy Statement; and (iv) use its reasonable best efforts to obtain such approval and adoption by the shareholders. 

        8.16 Filings; Other Actions.

        (a)  Subject
to applicable Laws relating to the exchange of information, Certegy and Netzee shall have the right to review in advance, and to the extent practicable each will
consult the other on, all the information relating to Certegy or Netzee, as the case may be, that appear in any filing made with, or written materials submitted to, any third party and/or any
Governmental Authority in connection with the transactions contemplated by this Agreement or the other Operative Agreements. In exercising the foregoing right, each of Netzee and Certegy shall act
reasonably and as promptly as practicable. 

21

 

        (b)  Netzee
and Certegy each shall, upon request by the other, furnish the other with all information concerning itself, its Subsidiaries, directors, officers and
shareholders and such other matters as may be reasonably necessary or advisable in connection with the Proxy Statement, or any other statement, filing, notice or application made by or on behalf of
Certegy, Netzee or any of their respective Subsidiaries to any third party and/or any Governmental Authority in connection with the transactions contemplated by this Agreement or the other Operative
Agreements. 

        8.17 Use of Proceeds. Netzee shall distribute the Closing Cash Payment, which shall be deposited at Closing as provided in
Section 5.3(i) and in the manner provided on Schedule 8.15(b). 

        9.    Conditions to Closing. 

        9.1  Conditions to Obligations of Certegy. The obligations of Certegy to consummate the transactions contemplated by this
Agreement and the Operative Agreements are subject to the satisfaction or fulfillment at or prior to Closing of the following conditions, any of which may be waived in whole or in part by Certegy in
writing: (i) all representations and warranties of Netzee contained in this Agreement or the Operative Agreements being true and correct in all material respects at and as of the Closing;
(ii) Netzee performing and complying in all material respects with all the covenants, obligations and agreements required by this Agreement to be performed or complied with at or prior to the
Closing, except that representations and warranties that are confined to a specific date shall speak only as of such date; (iii) no Material Adverse Change having occurred, and no event having
occurred that could reasonably be expected to result in a Material Adverse Change; (iv) receipt of any requisite governmental or regulatory approval (or written waiver thereof), and there being
no Law or injunction making illegal or otherwise prohibiting or restraining the consummation of the transactions contemplated by this Agreement or the Operative Agreements; (v) Netzee executing
and delivering to Certegy such bills of sale, leases, assignments and other instruments of transfer as Certegy may reasonably require to transfer title to the Purchased Assets, free and clear of all
Encumbrances other than Permitted Encumbrances; (vi) Netzee delivering to Certegy an officer's certificate in a form mutually agreeable to the parties, duly executed by an authorized officer of
Netzee, that certifies that
the conditions set forth in Subsections 9.1(i) and 9.1(ii) are fully satisfied as of Closing; (vii) Netzee delivering to Certegy a secretary's or assistant secretary's
certificate, duly executed by such authorized officer, with corporate and authority documents attached as exhibits to each certificate; (viii) Certegy having received a fully executed Bill of
Sale and Assignment from Netzee in a form mutually acceptable to the parties; (ix) the receipt by Certegy of an opinion from Netzee's legal counsel, dated the date of Closing, covering such
matters as are reasonable and customary for similar transactions and in a form mutually acceptable to the parties; (x) the waivers, consents and approvals set forth on  Schedule 6.3 shall have
been obtained and delivered, each on terms reasonably satisfactory to Certegy; (xi) Certegy receiving releases of
the Encumbrances on the Purchased Assets, other than Permitted Encumbrances, all in a form reasonably satisfactory to Certegy; (xii) the applicable landlords having executed consents, in a form
reasonably acceptable to Certegy, to the assignment of the Real Property Leases identified on Schedule 4.1(a)(vi) from Netzee to Certegy or its
designate; (xiii) Intercept, Inc. executing an agreement to market, promote and otherwise distribute the electronic banking and related services offered by Certegy and its Affiliates, in
a form mutually acceptable to the parties; (xiv) Netzee having received the requisite shareholder approval of: (A) this Agreement; (B) the transactions contemplated by this
Agreement and the Operative Agreements; and (C) a plan of liquidation and dissolution as set forth on Schedule 8.16(b);
(xv) Certegy having received general releases in a form reasonably acceptable to the parties from: (A) those executive officers of Netzee who are also shareholders of Netzee;
(B) InterCept, Inc.; (C) John H. Harland Company; and (D) the holder of all shares of Netzee's Series B Convertible Preferred Stock; (xvi) Certegy receiving
the Accounts Receivable 

22

 

Certificate as referred to and defined in Subsection 4.3(b); (xvii) all actions, proceedings, instruments and documents required to carry out the transactions contemplated by this Agreement,
and all other legal matters required for such transactions, shall have been reasonably satisfactory to Certegy prior to Closing; (xviii) the assignment by Netzee of the Client Contracts to
Certegy coupled with receipt of the requisite consent from all clients who have the ability to object to such assignment; (xix) the execution of the Indemnity Escrow Agreement, in a form
reasonably acceptable to Certegy, by all parties thereto; (xx) Netzee's reasonable efforts to obtain, at Certegy's expense, a Supplemental Extended Reporting Period clause in its existing
Errors and Omissions/Professional Liability insurance policy; (xxi) Netzee's reasonable efforts to obtain, at Certegy's expense, the addition of Certegy and its Affiliates as "additional
insureds" on all Business Insurance Policies for all claims arising out of events that occurred in advance of Closing; (xxii) the assignment (or termination) by John H. Harland Company to
Certegy or one of its Affiliates, on substantially the same terms, of the equipment leases identified in Schedule 6.19 combined with advance
written consent to such assignment by Dell Computer Corporation; and (xxiii) Certegy's receipt of written acknowledgements, in a form substantially the same as the form previously provided to
Certegy, from Bruce Gall, John H. Harland Company and Intercept, Inc. of the satisfaction of all conditions to their consents described in Schedule 6.3. 

        9.2  Conditions to Obligations of Netzee. The obligations of Netzee to consummate the transactions contemplated by this
Agreement and the Operative Agreements are subject to the satisfaction or fulfillment at or prior to the Closing of the following conditions, any of which may be waived in whole or in part by Netzee
in writing: (i) all representations and warranties of Certegy contained in this Agreement or the Operative Agreements being true and correct in all material respects at and as of the Closing;
(ii) Certegy performing and complying in all material respects with all covenants and agreements required by this Agreement to be performed or complied with at or prior to the Closing;
(iii) there being no Law or injunction issued by a court of competent jurisdiction making illegal or otherwise prohibiting or restraining the consummation of the transactions contemplated by
this Agreement; (iv) Certegy having paid Netzee the Cash Payment by wire transfer of immediately available funds to an account designated in writing by Netzee at least one (1) Business
Day prior to the Closing Date; (v) Certegy having executed and delivered to Netzee instruments of assumption, in a form
mutually acceptable to both parties and reasonably required to effect such assumption, pursuant to which Certegy shall assume the Assumed Liabilities, together with such other certificates,
instruments and agreements as may be reasonably required in order to effect such assumption; (vi) Certegy delivering to Netzee an officer's certificate, duly executed by an authorized officer
of Certegy, that certifies that the conditions set forth in Subsections 9.2(i) and 9.2 (ii) are fully satisfied; (vii) Netzee having received an opinion from Certegy's legal
counsel in a form mutually acceptable to the parties; (viii) Certegy delivering to Netzee a secretary's or assistant secretary's certificate, duly executed by such authorized officer, with
corporate and authority documents attached as exhibits to each certificate; (ix) Netzee having received the requisite shareholder approval of: (A) this Agreement; (B) the
transactions contemplated by this Agreement and the Operative Agreements; and (C) a plan of liquidation and dissolution as set forth on  Schedule 8.16(b); (x) receipt of any requisite
governmental or regulatory approval (or written waiver thereof), and there being no Law or
injunction making illegal or otherwise prohibiting or restraining the consummation of the transactions contemplated by this Agreement or the Operative Agreements; (xi) all actions, proceedings,
instruments and documents required to carry out the transactions contemplated by this Agreement, and all other legal matters required for such transactions, shall have been reasonably satisfactory to
counsel for Netzee prior to Closing; and (xii) the execution of the Indemnity Escrow Agreement, in a form reasonably acceptable to Netzee, by all parties thereto. 

23

 

        10.  Indemnification. 

        10.1 Survival. The representations, warranties and covenants contained in this Agreement and in any certificate delivered
pursuant to this Agreement shall survive the Closing and any investigation made by Certegy or Netzee for a period of one hundred eighty (180) days following the Closing Date. No action for a
breach or inaccuracy of the representations and warranties made or deemed made in this Agreement or in any certificate delivered pursuant to this Agreement shall be brought more than one hundred
eighty (180) days following the Closing Date, except for: (i) claims of which the indemnifying party has been notified by the claiming party within such one hundred eighty
(180) day period; and (ii) claims for material breaches of representations and warranties of Netzee which, to the knowledge of Netzee, were inaccurate at the Closing and which were not
then disclosed in writing to Certegy, which claims shall survive until the expiration of the applicable statute of limitations. It is understood that a claim may be made prior to such time as the
exact amount thereof shall have been determined. 

        10.2 Indemnification by Certegy. Certegy shall indemnify and hold Netzee and its Affiliates, officers, directors, employees,
attorneys, agents, representatives, successors and assigns (each, a "Netzee Indemnified Party") harmless from and against all claims, losses, damages, liabilities, obligations, payments, penalties,
costs and expenses of any nature (including, without limitation, the costs and expenses of any and all actions, suits, proceedings, assessments, judgments, settlements, compromises, fines and interest
relating thereto and reasonable attorneys' fees and reasonable disbursements in connection therewith) (collectively, "Losses") arising out of or relating to: (i) any inaccuracy or breach by
Certegy of a representation, warranty, covenant or agreement of Certegy contained in this Agreement, an Operative Agreement or in any certificate delivered pursuant to this Agreement; (ii) any
Liability or obligation to brokers retained by for or on behalf of Certegy or its Affiliates in connection with the transactions contemplated by this Agreement; (iii) the Assumed Liabilities to
the extent the
indemnified claim arose out of actions that occurred after the Closing; and (iv) the ownership or operation of the Purchased Assets or the Business after the Closing Date in all respects other
than the Excluded Liabilities. 

        10.3 Indemnification by Netzee. Netzee shall indemnify and hold Certegy and its Affiliates, officers, directors, employees,
attorneys, agents, representatives, successors and assigns (each, a "Certegy Indemnified Party") harmless against all Losses arising out of or related to: (i) any inaccuracy or breach by Netzee
of a representation, warranty, covenant or agreement of Netzee contained in this Agreement, an Operative Agreement or in any certificate delivered pursuant to this Agreement; (ii) any Liability
or obligation to brokers retained by for or on behalf of Netzee or its Affiliates in connection with the transactions contemplated by this Agreement; (iii) the Excluded Liabilities (regardless
of whether information relating such Excluded Liabilities is set forth on a schedule); (iv) the ownership or operation of the Purchased Assets or the Business prior the Closing Date in all
respects other than the Assumed Liabilities; (v) any voluntary or involuntary bankruptcy or insolvency proceeding of which Netzee is the subject; (vi) any third party challenges to the
transactions contemplated by this Agreement or the Operative Agreements as being part of a fraudulent conveyance; and (vii) the Closing Date Accounts Receivable being less than eight hundred
thousand dollars ($800,000.00). 

        10.4 Claims. A party entitled to indemnification under this Agreement with respect to any claim ("Indemnified Party") will
give the party required to provide such indemnification ("Indemnifying Party") prompt written notice of any legal proceeding, claim or demand (in each case, a "Claim") with respect to which the
Indemnified Party is entitled to indemnification. The Indemnifying Party shall have the right, by giving notice to the Indemnified Party within ten (10) days after receipt of notice from the
Indemnified Party of a Claim stating that the Indemnifying Party is responsible for such Claim, at its expense, to defend against, negotiate, settle or otherwise deal with any Claim with respect to
which it is the Indemnifying Party and to have 

24

 

the Indemnified Party represented by counsel, reasonably satisfactory to the Indemnified Party and selected by the Indemnifying Party; provided, that the Indemnified Party may participate in any
proceeding with counsel of its choice and at its expense; provided further, that Certegy, at any time when it believes in good faith that any Claim with respect to which Netzee is defending, is having
a Material Adverse Change on the assets, affairs, condition (financial or otherwise) or prospects of Certegy, or upon the Business or the Purchased Assets, or could adversely affect or detract from
the value of the Purchased Assets or the Business, may assume the defense and settlement of such Claim in good faith, with counsel of its choice, at it expense; and provided further, that the
Indemnifying Party may not enter into a settlement of any Claim without the consent of the Indemnified Party unless such settlement requires no more than a monetary payment for which the Indemnified
Party is fully indemnified. The parties will cooperate fully with each other in connection with the defense, negotiation and/or settlement of each Claim. 

        10.5 Limitations. Absent fraud, the cumulative indemnification obligation of either party with respect to any Losses or
Claims shall not exceed the Indemnity Escrow Amount. In the absence of fraud, and except for non-monetary equitable relief, if the Closing occurs, indemnification pursuant to the
provisions of this Section 10 shall be the sole and exclusive remedy of the parties for any breach of any representation or warranty contained in this Agreement. 

        10.6 Treatment of Indemnity Benefits. All payments made by Netzee or Certegy, as the case may be, to or for the benefit of
the other party pursuant to any indemnification obligations under this Agreement shall be treated as adjustments to the Purchase Price for Tax purposes and such agreed treatment shall govern for
purposes of this Agreement. 

        11.  Termination. 

        11.1 Termination. This Agreement and the transactions contemplated by this Agreement may be terminated at any time prior to
the Closing: (i) by the mutual written consent of Netzee and Certegy; (ii) by either Netzee or Certegy if the Closing has not occurred on or prior to 5:00 p.m., Eastern Standard
Time, on January 15, 2003 ("Termination Date"); provided, however, that the right to terminate this Agreement under this Subsection 11.1(ii) shall not be available to a party whose
action or inaction has resulted in a willful and material breach of this Agreement; (iii) by either Netzee or Certegy if any Governmental Authority issues a final and non-appealable
Governmental Order restraining, enjoining or otherwise prohibiting the consummation of the transactions contemplated by this Agreement; provided, the party seeking to so terminate has exercised
commercially reasonable efforts to oppose any such Governmental Order or to have the Governmental Order vacated or made inapplicable to the transactions contemplated by this Agreement; (iv) by
Certegy, if Netzee materially breaches any representation, warranty, covenant or other agreement to be performed by it contained in this Agreement or an Operative Agreement, and such breach is
incapable of being cured or is not cured within ten (10) days after Netzee's receipt of written notice from Certegy; (v) by Netzee, if Certegy materially breaches any representation,
warranty, covenant or other agreement contained in this Agreement or an Operative Agreement, and such breach is incapable of being cured or is not cured within ten (10) days after Certegy's
receipt of written notice from Netzee; (vi) by Certegy or Netzee if shareholder approval of the matters specified in Subsection 8.15(b) shall not have been obtained at the Shareholders Meeting;
(vii) by Certegy if the satisfaction of any condition to the obligations of Certegy set forth in Subsection 9.1 becomes impossible; or (viii) by Netzee if the satisfaction of any
condition to the obligations of Netzee set forth in Subsection 9.2 becomes impossible. 

        11.2 Procedure and Effect of Termination. If either party terminates this Agreement pursuant to Subsection 11.1, this
Agreement, other than the obligations of the parties under Subsections 8.3 (Confidentiality), 8.5 (Publicity), 8.6 (Transaction Costs), Subsection 11.2 (Procedure and Effect of Termination), and
Section 12 (Miscellaneous) (each of which shall survive termination), shall 

25

 

forthwith become void and have no effect, without any liability on the part of any terminating party or its officers, directors or shareholders. In the event of termination of this Agreement pursuant
to Subsection 11.1, written notice of the termination must be given by the terminating party at least three (3) Business Days prior to the date of termination. If this Agreement is properly
terminated, all filings, applications and other submissions made pursuant to this Agreement, to the extent practicable, shall be withdrawn from the agency or other person to which they were made. 

        12.  Miscellaneous. 

        12.1 Assignment. This Agreement shall be binding upon and inure solely to the benefit of each party and their respective
successors and assigns, provided that neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or delegated by Netzee or Certegy without the prior
written consent of the other party, and any purported assignment or delegation shall be null and void except that, without Netzee's consent, Certegy may assign this Agreement to a wholly-owned
Subsidiary of Certegy Inc. 

        12.2 Governing Law. This Agreement will be governed by and construed and interpreted in accordance with the substantive Laws
of the State of Georgia, without giving effect to any choice of law or conflicts of Law provision or rule that would cause the application of the Laws of a jurisdiction other than Georgia. The
prevailing party in any action arising out of this Agreement shall be entitled to the recovery of its reasonable attorney's fees, costs and expenses. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY
CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
WITH RESPECT TO ANY LITIGATION ARISING, DIRECTLY OR INDIRECTLY, OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE OPERATIVE AGREEMENTS. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANOTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THIS WAIVER. EACH PARTY UNDERSTANDS AND HAS
CONSIDERED THE IMPLICATIONS OF THIS WAIVER, AND MAKES IT VOLUNTARILY. 

        12.3 Waiver. No party shall be deemed to have waived any of its rights under this Agreement without agreeing to do so in
writing. No waiver of a breach of this Agreement shall constitute a waiver of any prior or subsequent breach of this Agreement. No delay on the part of any party in exercising any right, power or
privilege under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise or the exercise of any other
right, power or privilege. Whenever this Agreement requires or permits consent by or on behalf of a party, that consent must be given in writing in a manner consistent with the requirements for a
waiver as set forth in this subsection. 

        12.4 Force Majeure. No party shall be liable for any loss or damage due to causes beyond its control, including earthquake,
war, fire, flood, power failure, terrorist acts, acts of God or other catastrophes. 

        12.5 Headings; Construction. The headings that appear in this Agreement are inserted for convenience only and shall not limit
or extend its scope. Each of the agreements and covenants contained in this Agreement are in addition to any other similar agreement or covenant contained in any other document entered into in
connection with this Agreement, and do not limit the applicability of such other agreement or covenant. 

26

 

        12.6 Entire Agreement. This Agreement, together with the Nondisclosure Agreements, constitutes the entire understanding of
the parties with respect to its subject matter, and all prior agreements, understandings and representations relating to the subject matter of this Agreement are canceled in their entirety. The
exhibits, schedules and Operative Agreements are incorporated by reference into and made a part of this Agreement for all purposes. 

        12.7 Neutral Construction. The parties agree that this Agreement was negotiated fairly between them at arms' length and that
the final terms of this Agreement are the product of the parties' negotiations. Each party represents and warrants that it has sought and received legal counsel of its own choosing with regard to the
contents of this Agreement and the rights and obligations affected hereby. This Agreement shall be construed equally against the parties regardless of who is more responsible for its preparation. 

        12.8 Severability. If there is a conflict between any part of this Agreement and any present or future Law, this Agreement
shall be curtailed only to the extent necessary to bring it within the requirements of that Law, and the remainder of this Agreement shall remain in full force and effect. 

        12.9 Notices. All notices, requests, demands, claims and other communications that are required or may be given pursuant to
this Agreement must be in writing and delivered personally (with written receipt) by hand delivery, a reputable overnight courier, by facsimile or by registered or certified mail, return receipt
requested, postage prepaid, to the parties at the following addresses (or to the attention of such other Person or at such other address as any party may provide to the other party by notice in
accordance with this subsection): 

if
to Certegy, to: 

Certegy
E-Banking Services, Inc.

Attention: Law Department

11601 Roosevelt Boulevard

St. Petersburg, Florida 33717-2202

Facsimile: (727) 556-9196 

with
a copy (which shall not constitute notice) to: 

Kilpatrick
Stockton L.L.P.

1100 Peachtree Street, Suite 2800

Atlanta, Georgia 30309

Attention: Greg Cinnamon 

if
to Netzee, to: 

Netzee, Inc.

Attention: Donny R. Jackson, Chief Executive Officer

6190 Powers Ferry Road

Powers Ferry Landing East, Suite 400

Atlanta, Georgia 30339

Facsimile: (770) 850-0400 

with
a copy (which shall not constitute notice) to: 

Sutherland
Asbill & Brennan LLP

999 Peachtree Street, N.E., Suite 2300

Atlanta, Georgia 30309

Attention: Mark D. Kaufman

Facsimile: (404) 853-8806 

27

 

Any
such notice or communications shall be deemed to have been given (i) on the date of delivery, if by hand delivery, (ii) as of the next business day after the date actually sent via
overnight courier, (iii) five days after it is mailed, or (iv) upon the sender's telephonic confirmation of receipt by the recipient if sent via facsimile. 

        12.10
Time is of the Essence. Time is of the essence with respect to the obligations of the parties under this Agreement. 

        12.11
No Third Party Beneficiary. This Agreement is made for the sole benefit of the parties and their respective successors, executors
and permitted assigns, and nothing contained in this Agreement, express or implied, is intended to or shall confer any third-party beneficiary right or any other legal or equitable rights, benefits or
remedies of any nature whatsoever upon any Person who is not a party
(except to the extent that any Affiliates of Netzee or Certegy are expressly identified in this Agreement). 

        12.12
Counterparts. This Agreement may be executed in one or more counterparts for the convenience of the parties, including by facsimile,
each of which shall be deemed an original and all of which together will constitute one and the same instrument. 

        12.13  Amendment. This Agreement may only be modified by written agreement of the parties. 

        12.14
No Successor Liability. It is expressly understood that the parties intend that Certegy shall not be considered a successor to
Netzee or any of its Affiliates by reason of any theory of law or equity, and that Certegy shall have no Liability except as otherwise provided in this Agreement for any obligation or liability of
Netzee or any of its Affiliates. 

        12.15
Specific Performance. The parties acknowledge that the rights of each party to consummate the transactions contemplated hereby are
special, unique, and of extraordinary character, and that, in the event either party either violates or fails or refuses to perform any covenant herein, the other party will be without adequate remedy
at law. Therefore, in the event that any party violates, fails or refuses to perform any covenant or agreement made by it herein, the other parties, so long as they are not in breach hereof, may, in
addition to the remedies at law, institute and prosecute an action in a court of competent jurisdiction to enforce specific performance of such covenant or agreement or seek any other equitable
relief. 

[Signature
page follows.] 

28

 

        IN
WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. 

	 	 	DOWN ACQUISITION CORPORATION
	

 	
 	

By:	
 	

/s/  JERRY HINES      
 Jerry Hines

President
	

 	
 	
NETZEE, INC.
	

 	
 	

By:	
 	

/s/  DONNY R. JACKSON      
 Donny R. Jackson

Chief Executive Officer

29

 
Exhibit A

Netzee Wire Instructions  

Wire
funds to: 

Bank
of America

Atlanta, Georgia

Netzee, Inc. Master Account

ABA #061000052

Acct #003268116953 

30

QuickLinks

TABLE OF CONTENTS

List of Schedules and Exhibits

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]