Document:

EX-10.(K) AMENDED NONQUALIFIED DEFERRED COMP. PLAN

 

Exhibit 10(k)

CHECKFREE CORPORATION

AMENDED AND RESTATED

NONQUALIFIED DEFERRED COMPENSATION PLAN

     THIS AMENDED AND RESTATED NONQUALIFIED DEFERRED COMPENSATION PLAN (the “Plan”), the terms
and provisions of which are herein contained, is made and entered into effective as of this 26th
day of July, 2007 (the “Effective Date”), by CHECKFREE CORPORATION, a Delaware corporation (the
“Company”).

     1. PURPOSE OF THE PLAN.

     The purpose of this Plan is to establish a deferred compensation program for certain key
management and highly-compensated associates of the Company and any of its Subsidiaries and
Affiliates permitting such associates with the ability to defer the receipt of compensation from
the Company.

     2. DEFINITIONS.

     As used in this Plan, the following capitalized terms shall have the indicated meaning.

          “Affiliate” means any entity other than the Company and its Subsidiaries that is
designated by the Board as a participating employer under the Plan, provided that the Company
directly or indirectly owns at least 20% of the combined voting power of all classes of stock of
such entity or more than 50% of the ownership interests in such entity.

          “Annual Enrollment Form” means, with respect to each Participant and any calendar
year, the form specified by the Plan Administrator, as completed and delivered to the Company by
each Participant pursuant to such specific deadlines as may exist from time to time pursuant to the
Plan.

          “Beneficiary” has the meaning set forth in Section 9 hereof.

          “Board” means the Board of Directors of the Company.

          “Bonus Compensation” means any cash compensation payable to a Participant pursuant to
a written incentive plan of the Company for any fiscal year of the Company.

          “Bonus Deferral Election” means an election to defer a portion of a Participant’s
Bonus Compensation for any fiscal year of the Company pursuant to the Plan and as set forth in the
Participant’s Annual Enrollment Form for the calendar year in which ends the Company’s fiscal year.

 

 

          “Business Day” means any day on which both (i) the National Association of Securities
Dealers Automated Quotation System (“NASDAQ”) is open for trading and (ii) each of the Company,
the Trustee, each Investment and any record keeper retained by the Plan Administrator is open for
business.

          “Change of Control” means the occurrence of one or more of the following events:

          (a) Any “person” including a “syndication” or “group” as those terms are used in Section
13(d)(3) of the Securities Act, becomes (on or after the Effective Date) the beneficial owner,
directly or indirectly, of securities of the Company representing thirty percent (30%) or more of
the combined voting power of the Company’s then outstanding Voting Securities;

          (b) the Company is merged or consolidated with another corporation and immediately after
giving effect to the merger or consolidation less than fifty percent (50%) of the outstanding
Voting Securities of the surviving or resulting entity are then beneficially owned in the aggregate
by (x) the stockholders of the Company immediately prior to the merger or consolidation, or (y) if
a record date has been set to determine the stockholders of the Company entitled to vote on the
merger or consolidation, the stockholders of the Company as of that record date.

          (c) The date a majority of the members of the Board becomes replaced, during the preceding
twelve (12) month period, by directors whose appointment or election to the Board was not endorsed
by a majority of the members of the Board before the date of such appointment or election.

          (d) the Company transfers substantially all of its assets to another person, or more than one
person acting as a group, in accordance with Section 409A of the Code and guidance promulgated
thereunder.

          “Code” means the Internal Revenue Code of 1986, as amended.

          “Company” means CheckFree Corporation, a corporation organized under the laws of the
State of Delaware, or any successor corporation.

          “Deferral Account” means, with respect to each Participant, the book-keeping record
maintained by the Company for each Participant in accordance with the terms of this Plan.

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

          “Effective Date” has the meaning as set forth in the introductory paragraph of this
Plan.

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          “Fair Market Value” means, with respect to any Investment, the closing price on the
date of reference, or if there were no sales on such date, then the closing price on the nearest
preceding day on which there were such sales, and in the case of an unlisted security, the mean
between the bid and asked prices on the date of reference, or if no such prices are available for
such date, then the mean between the bid and asked prices on the nearest preceding day for which
such prices are available. With respect to any Investment which reports “net asset values” or
similar measures of the value of an ownership interest in the Investment, Fair Market Value shall
mean such closing net asset value on the date of reference, or if no net asset value was reported
on such date, then the net asset value on the nearest preceding day on which such net asset value
was reported. For any Investment not described in the preceding sentences, Fair Market Value shall
mean the value of the Investment as determined by the Plan Administrator in its reasonable judgment
on a consistent basis, based upon such available and relevant information as the Plan Administrator
determines to be appropriate.

          “Installment Distribution Option” means the distribution option for a Participant’s
Retirement Account as described in Section 8(b)(i) hereof.

          “Investment” means the options set forth in Exhibit “A” attached hereto, as
the same may be amended from time to time by the Company in its sole and absolute discretion.

          “Lump Sum Distribution Option” means the distribution option for a Participant’s
Retirement Account as described in Section 8(b)(ii) hereof.

          “Mandatory Commencement Date” means, with respect to each Participant, the date of the
Participant’s 65th birthday. For example, the Mandatory Commencement Date for a
Participant born on October 1, 1950 is October 1, 2015.

          “Participant” means an associate of the Company or any Subsidiary or Affiliate
designated in Section 4 hereof, or otherwise designated by the Plan Administrator in its sole and
absolute discretion for participation in the Plan who enters into a Participation Agreement, or a
person who was such at the time of his retirement, death, or other termination of employment and
who obtains, or whose beneficiary obtains, benefits under this Plan in accordance with its terms.

          “Participation Agreement” means an agreement between the Company and an individual
pursuant to which the individual becomes a Participant in the form specified by the Plan
Administrator. Participation Agreements for each Participant need not be the same and may contain
such terms and conditions, not inconsistent with the Plan, as the Plan Administrator may determine
appropriate.

          “Permitted Retirement Date” means the date on which a Participant both has (i)
completed at least ten (10) years of full-time employment with the Company or any subsidiary or
Affiliate , and (ii) is at least 55 years old.

          “Plan” means this CheckFree Corporation Nonqualified Deferred Compensation Plan, as it
may be amended from time to time.

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          “Plan Administrator” means the Company or such person or persons as may be designated
from time to time in writing by the Company.

          “Retirement Account” means, with respect to each Participant, that portion of a
Participant’s Deferral Account which is determined in accordance with Section 6(d) hereof.

          “Salary Compensation” means any base salary plus any receipts of commission
compensation which is otherwise payable to a Participant in cash by the Company in any calendar
year, without reduction for the amount of any contributions made by the Company on behalf of
Participant under any salary reduction or similar arrangement to a qualified deferred compensation,
pension or cafeteria plan, contributions toward a simplified employee pension plan described in
Section 408(k) of the Code, contributions towards the purchase of an annuity contract described in
Section 403(b) of the Code, and/or contributions of elective contributions pursuant to an
arrangement qualified under Section 401(k) of the Code; provided, however, that in no event shall
“Salary Compensation” include any severance payments or other compensation which is paid to
Participant as a result of the Participant’s termination of employment with the Company.
Notwithstanding anything herein to the contrary, in no event shall Salary Compensation include
Bonus Compensation.

          “Salary Deferral Election” means an election to defer a portion of a Participant’s
Salary Compensation pursuant to the Plan and as set forth in the Participant’s Annual Enrollment
Form for the calendar year in which ends the Company’s fiscal year.

          “Specified Date Account” means, with respect to each Participant, that portion of the
Participant’s Deferral Account which is determined in accordance with Section 6(d) hereof.

          “Sub Account” means, with respect to any Participant, the Participant’s Retirement
Account or any Specified Date Account of the Participant.

          “Termination Date” means, with respect to each Participant, the date on which a
Participant terminates employment with the Company and all its subsidiaries and Affiliates for any
reason, including death or disability.

          “Trust” means the trust created pursuant to the Trust Agreement.

          “Trust Agreement” means that certain Trust Agreement by and between the Company and
the Trustee may be amended from time to time in accordance with the terms hereof.

          “Trustee” means the trustee of the Trust. The Trustee shall at all times be a bank
with trust powers. The initial and any successor Trustee shall be as selected by the Company
pursuant to the Trust Agreement.

          “Unforeseeable Emergency” means in accordance with Section 409A of the Code and
guidance promulgated thereunder, (1) a severe financial hardship to the Participant resulting

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from an illness or accident of the Participant, the Participant’s spouse, the Participant’s
beneficiary, or the Participant’s dependent; (2) loss of the Participant’s property due to
casualty; or (3) any other similar extraordinary and unforeseeable circumstances arising as a
result of events beyond the control of the Participant.

          “Voting Securities” means any security which ordinarily possesses the power to vote in
the election of the Board without the happening of any precondition or contingency.

     3. ADMINISTRATION.

     The Plan shall be administered by the Plan Administrator. The Plan Administrator shall have
the authority to adopt, alter and repeal such rules, guidelines and practices governing the Plan as
it shall, from time to time, deem advisable; to interpret the terms and provisions of the Plan and
any award issued under the Plan (and any agreements relating thereto); and to otherwise supervise
the administration of the Plan. All decisions made by the Plan Administrator pursuant to the
provisions of the Plan shall be made in the Plan Administrator’s sole discretion and shall be final
and binding on all persons, including Participants.

     Without limiting the generality of the foregoing, the Plan Administrator shall have the
following powers and duties:

     (a) To require any person to furnish such reasonable information as may be requested
for the purpose of the proper administration of the Plan as a condition to receiving any
benefits under the Plan;

     (b) To make and enforce such rules and regulations and prescribe the use of such forms
as it shall deem necessary for the efficient administration of the Plan;

     (c) To determine the amount of benefits that shall be payable to any person in
accordance with the provisions of the Plan, and to provide a full and fair review to any
Participant whose claim for benefits has been denied in whole or in part;

     (d) To employ at the expense of the Company other persons (who may or may not be
employed by the Company) to assist the Plan Administrator in carrying out its duties under
the terms of the Plan;

     (e) To keep records of all acts and determinations, and to keep all such records, books
of account, data and other documents as may be necessary for the proper administration of
the Plan;

     (f) To prepare and distribute to all Participants, and Beneficiaries information
concerning the Plan and their rights under the Plan;

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     (g) To exercise any powers reserved to the Company under the Trust executed in
connection with this Plan, including but not limited to the power to provide investment
guidelines to the trustee under the Trust; and

     (h) To do all things necessary to operate and administer the Plan in accordance with
its provisions.

     4. PARTICIPANTS.

     The Plan Administrator, in its sole and absolute discretion, shall select those management or
other key associates of the Company or any Affiliate or Subsidiary who are responsible for or
contribute to the management, growth and/or profitability of the business of the Company and/or its
Subsidiaries and Affiliates to participate in the Plan. No one shall be treated as a Participant
unless and until the person has entered into a Participation Agreement.

     5. DEFERRED COMPENSATION.

     (a) Salary Deferrals. Any Participant may elect to defer the receipt of a portion of
the Salary Compensation otherwise payable to the Participant by the Company or any Subsidiary or
Affiliate in any calendar year, which portion, not to exceed twenty-five percent (25%) per annum,
shall be designated by the Participant pursuant to a Salary Deferral Election as set forth on the
Annual Enrollment Form.

     (b) Bonus Deferrals. Any Participant may elect to defer annually the receipt of a
portion of or all of the Bonus Compensation otherwise payable to the Participant by the Company or
any Subsidiary or Affiliate in any fiscal year, which portion shall be designated by him/her
pursuant to a Bonus Deferral Election as set forth on the Annual Enrollment Form.

     (c) Annual Enrollment Forms. Unless otherwise approved by the Plan Administrator,
Annual Enrollment Forms must be completed, signed, and delivered to the Company prior to January 1
of each calendar year for any Salary or Bonus Deferred Elections to be effective. Notwithstanding
the foregoing, with respect to the calendar year in which a Participant first becomes eligible to
participate in this Plan, the newly eligible Participant may make a Salary or Bonus Deferral
Election pursuant to an Annual Enrollment Form if such election is made within 30 days after the
date the associate becomes eligible.

     6. DEFERRAL ACCOUNTS.

     (a) Any compensation deferred pursuant to Section 5 of this Plan shall be credited to the
Deferral Account maintained in the name of the Participant. Deferral Accounts shall be bookkeeping
accounts maintained on the Company’s records. Deferral Account shall be credited (i) with respect
to deferrals of Salary Compensation, on the same day of each month on which cash compensation would
otherwise have been paid to a Participant, with a dollar amount equal to the total amount by which
the Participant’s cash compensation for such month was reduced in accordance with the Participant’s
Salary Deferral Election, and (ii) with respect to deferrals of

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Bonus Compensation, on the date such bonus compensation would otherwise have been paid to the
Participant in accordance with the Company’s normal practices.

     (b) The credit balance of the Deferral Account for each Participant shall be deemed to have
been invested and reinvested from time to time in such Investments as shall be designated by the
Participant in accordance with the following:

          (i) Upon commencement of participation in the Plan, each Participant shall make a designation
of the Investments which the Participant desires to have deemed to be purchased with the amounts
credited to the Participant’s Deferral Account in accordance with Section 6(a) hereof. All such
deemed purchases of Investments with respect to such amounts shall be deemed to have occurred on
the day on which the deferrals are credited to the Participant’s Deferral Account, unless such day
is not a Business Day, in which event the deemed purchase shall be deemed to have occurred on the
first Business Day following such day.

          (ii) Each Participant shall have the right, by giving notice to the Plan Administrator to (A)
change the existing Investments in which the Participant’s Deferral Account is deemed to be
invested by deeming a portion of the existing Investments in the Participant’s Account to have been
sold and the new Investments purchased; and (B) change the Investments which are deemed to be
purchased with future credits to the Participant’s Deferral Account pursuant to Sections 6(a)(i)
and (ii). No Participant shall be permitted to make more than six (6) changes pursuant to (A) or
(B) in any one calendar year. Such changes shall be made in such specific manner as shall be
specified from time to time by the Plan Administrator. Any such change shall be effective as of
the day given so long as such day is a Business Day and the notice of such change is given by 4:00
P.M. Eastern Standard Time on such day. Otherwise, such change shall be effective on the Business
Day immediately following the date of such notice.

          (iii) In the case of any deemed purchase, the Deferral Account shall be debited with a dollar
amount equal to the quantity and kind of the Investment deemed to have been purchased multiplied by
the Fair Market Value of such Investment on the date of reference and shall be credited with the
quantity and kind of Investment so deemed to have been purchased. In the case of any deemed sale
of an Investment, the Deferral Account shall be debited with the quantity and kind of Investment
deemed to have been sold, and shall be credited with a dollar amount equal to the quantity and kind
of Investment deemed to have been sold multiplied by the Fair Market Value of such Investment on
the date of reference.

          (iv) In no event shall the Company be under any obligation, as a result of any designation of
Investments made by Participants, to acquire assets (or to cause the Trust to acquire assets) which
correspond with any such Investments.

     (c) The Company shall, within the 45-day period following the close of each quarter during
each calendar year (March 31, June 30, September 30 and December 31), furnish each Participant with
a statement of the balance of the Participant’s Deferral Account and all Sub Accounts, showing all
debits and credits thereto in accordance with the terms of this Plan.

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     (d) A Participant’s Deferral Account shall be divided into separate Retirement and Specified
Date Accounts which shall be Sub Accounts determined in accordance with this Section 6(d) as
follows:

               (i) A Participant’s Retirement Account shall initially be credited with the portion of the
Salary Compensation and the Bonus Compensation credited to a Participant’s Deferral Account
pursuant to Section 6(a) hereof which is specified by the Participant on his Annual Enrollment Form
for such calendar year to be credited to the Participant’s Retirement Account. A Participant shall
have only 1 Retirement Account.

               (ii) A Participant’s Specified Date Account for any specified year shall initially be credited
with the portion of the Salary Compensation and the Bonus Compensation credited to a Participant’s
Specified Date Account pursuant to Section 6(a) hereof which is specified by the Participant to be
credited to the Participant’s Specified Date Account for such specified year on his Annual
Enrollment Form for such calendar year. The Specified Date Accounts shall be designated by any
particular year which begins at least twelve (12) months after an individual becomes a Participant;
provided however, that a Participant shall not be permitted to designate a year for a Specified
Date Account which is after the year in which occurs the Participant’s Mandatory Commencement Date.
If a Participant designates a Specified Date Account pursuant to any Annual Enrollment Form which
is not permitted by the immediately preceding sentence, such designation of Specified Date Account
shall be deemed null and void and all amounts otherwise designated by the Participant to be
credited to such Specified Date Account shall instead be credited to the Participant’s Retirement
Account.

               (iii) All deemed Investment designations made by a Participant pursuant to this Plan shall be
specified by percentages and shall be deemed to apply in the same percentage to each of the credit
balances of all Sub Accounts of the Participant’s Deferred Comp Account, so that at all times the
portion of the total credit balance of each Sub Account that is deemed to be invested in a
particular Investment designated by the Participant shall be identical for all Sub Accounts.

     (e) A Participant’s Deferral Account (and Sub Accounts thereof) shall be debited in an amount
equal to the amount of cash distributed to the Participant or the Participant’s Beneficiary
pursuant to Section 8 hereof.

     (f) In determining the amounts of all debits and credits to Deferral Accounts and Sub
Accounts, the Plan Administrator shall exercise its reasonable best judgment, and all such
determinations (in the absence of bad faith) shall be binding upon all Participants and their
Beneficiaries. If an error is discovered in the Deferral Account or any Sub Account of a
Participant, the Plan Administrator, in its sole and absolute discretion, shall cause appropriate,
equitable adjustments to be made as soon as administratively practicable following the discovery of
such error or omission.

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     7. THE TRUST.

          (a) The Company shall enter into the Trust Agreement creating the Trust for the purposes
specified therein and herein. The Trust is intended to be a “grantor trust” with the result that
the corpus and income of the trust be treated as assets and income of the Company for federal
income tax purposes pursuant to Subpart E, Part I, Subchapter J, Chapter 1, Subtitle A of the Code.
The Trust and any assets held by the Trust will in all events conform to the substantive terms of
the “model trust” described in Revenue Procedure 92-64, 1992-2 C.B. 422, all as determined by the
Company in its sole and absolute discretion. All amounts contributed to the Trust shall remain the
assets of the Company subject to the terms and conditions of the Trust Agreement.

          (b) The Company shall contribute an amount equal to the credits to the Participant’s Deferral
Account with respect to Salary Deferral Elections and Bonus Deferral Elections at such times as
such amounts are credited to a Participants account in accordance with Sections 5 and 6 hereof.

          (c) The Company shall remain primarily liable to make payments to Participants and their
Beneficiaries pursuant to this Plan and the Company’s contribution of amounts to the Trust shall
not satisfy the Company’s obligation to make payments to Participants and/or Beneficiaries pursuant
to this Plan. Distributions from the Trust to Participants or Beneficiaries will, however, be
applied in satisfaction of such obligation of the Company to make payments pursuant to Section 8
hereof.

          (d) The Company shall be responsible for and pay without any debit to the Deferral Account or
reduction in the Trust, all amounts owed the Trustee pursuant to the Trust Agreement (including,
without limitation, any amounts which are due pursuant to Section 9 of the Trust Agreement). In
the event that the Company does not pay any such amounts to the Trustee and the Trustee charges
such amount against, and pays it from, the Trust, the Company shall immediately contribute an
amount equal to such charge to the Trust.

     8. DISTRIBUTIONS.

          (a) Specified Date Accounts.

               (i) Specified Date. Except as otherwise provided in this Section 8(a), Participant
shall be paid an amount equal to the credit balance of the Participant’s Specified Date Account by
January 15th of the year specified for such Specified Date Account.

               (ii) Termination of Employment. If a Participant’s Termination Date occurs prior to
payment with respect to a Specified Date Account pursuant to Section 8(a)(i) or (iii) hereof, the
Participant shall be paid an amount equal to the credit balance of such Specified Date Account
within thirty (30) days of the Participant’s Termination Date. Notwithstanding the foregoing, with
respect to amounts deferred after December 31, 2004, distributions to Participants, who are “key
employees,” as defined in Section 416(i) of the Code, will not commence until the

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earlier of (1) the date that is six (6) months after the date of termination, (2) the date of the
Participant’s death, or (3) any earlier date permitted under Section 409A of the Code.

               (iii) Change of Control. If there is a Change of Control prior to the payment with
respect to a Specified Date Account pursuant to Section 8(a)(i) or 8(a)(ii) hereof, a Participant
shall be paid an amount equal to the credit balance of such Specified Date Account within thirty
(30) days following such Change of Control.

          (b) Retirement Account.

               (i) Termination of Employment After Permitted Retirement Date or Due to Death.
Except as otherwise provided in this Section 8(b), if a Participant’s Termination Date occurs after
the Participant’s Permitted Retirement Date or prior to the Participant’s Permitted Retirement Date
due to the Participant’s death, then the Participant shall be paid an amount equal to the credit
balance of the Participant’s Retirement Account pursuant to the distribution option set forth below
that was specifically selected by the Participant pursuant to the Participant’s Participation
Agreement:

                    (A) Installment Distribution Option. If the Participant selects the “Installment
Distribution Option,” the Participant shall receive annual payments commencing on any day which is
no more than 30 days following the Participant’s Termination Date and continuing annually
thereafter on the same date for two (2) to fifteen (15) years (as selected by the Participant in
the Participant’s Participation Agreement). Notwithstanding the foregoing, with respect to amounts
deferred after December 31, 2004, distributions to Participants, who are “key employees,” as
defined in Section 416(i) of the Code, will not commence until the earlier of (1) the date that is
six (6) months after the date of termination, (2) the date of the Participant’s death, or (3) any
earlier date permitted under Section 409A of the Code. The amount of each annual payment shall be
determined by dividing (I) the balance in the Participant’s Retirement Account, by (II) the number
of payments that remain to be made to the Participant based upon the payout period selected. For
example, if a Participant has selected a 10-year payout period and the first annual payment is to
be made on January 15, 2015, the amount of the payment to be made on that date would be the
quotient obtained by dividing (w) the balance of the Deferral Account immediately prior to such
payment date, by (x) 10; the amount of the payment for January 15, 2016, would be the quotient
obtained by dividing (y) the balance of the Retirement Account immediately prior to such payment
date in December, Year 1, by (z) 9; and so forth.

                    (B) Lump Sum Distribution Option. If the Participant selects the “Lump Sum
Distribution Option” in the Participant’s Participation Agreement, the Participant shall be paid
within thirty (30) days after the Participant’s Termination Date an amount equal to the credit
balance of the Participant’s Retirement Account. Notwithstanding the foregoing, with respect to
amounts deferred after December 31, 2004, distributions to Participants, who are “key employees,”
as defined in Section 416(i) of the Code, will not commence until the earlier of (1) the date that
is six (6) months after the date of termination, (2) the date of the Participant’s death, or (3)
any earlier date permitted under Section 409A of the Code.

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                    (C) Change in Distribution Options. A Participant shall be entitled to change payout
options of the Participant’s Retirement Account between those in Sections 8(b)(ii)(A) or (B) above
by written notice to the Company. Such notice must be delivered no less than twelve (12) months
prior to the Termination Date and must provide that payments commence at least five (5) years after
the payments otherwise would have commenced. Any notice of change that does not comply with these
terms shall be of no force and effect.

               (ii) Termination of Employment Prior to Permitted Retirement Date Other than Due to
Death. Except as otherwise provided in this Section 8(b), if a Participant’s Termination Date
occurs prior the Participant’s Permitted Retirement Date for any reason other than the
Participant’s death, then the Participant shall be paid, within thirty (30) days after the
Participant’s Termination Date, an amount equal to the credit balance of the Participant’s
Retirement Account. Notwithstanding the foregoing, with respect to amounts deferred after December
31, 2004, and notwithstanding the foregoing, distributions to Participants, who are “key
employees,” as defined in Section 416(1) of the Code, will not commence until the earlier of (1)
the date that is six (6) months after the date of termination, (2) the date of the Participant’s
death, or (3) any earlier date permitted under Section 409A of the Code.

               (iii) Change of Control. If there is a Change of Control prior to payment with
respect to a Participant’s Retirement Account pursuant to Section 8(b)(i) or 8(a)(ii) hereof, the
Participant shall be paid an amount equal to the credit balance of the Participant’s Retirement
Account within thirty (30) days following such Change of Control.

          (c) Hardship Distributions. If a Participant experiences an Unforeseeable Emergency,
upon application by the Participant, payments of the then credit balance in the Participant’s
Deferral Account may be made to the Participant in an amount which the Plan Administrator
determines to be reasonably necessary to meet the financial hardship associated with such
Unforeseeable Emergency. The Plan Administrator shall have exclusive authority to determine the
circumstances which will constitute an Unforeseeable Emergency. Notwithstanding the foregoing in
no event shall any distributions be made pursuant to this Section 8(c) to the extent that the Plan
Administrator determines that the financial hardship related to the Unforeseeable 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) cessation of deferrals under the Plan. (The
provisions of this Section 8(c) shall also apply following a Participant’s death to any Beneficiary
that is entitled to receive distributions.) The provisions of this Section 8(c) are intended to
comply with the requirements of Section 409A of the Code and Treasury Regulation 1.409A-3(i)(3) and
shall be interpreted and applied in a manner consistent therewith. All distributions pursuant to
this Section 8(c) shall be debited from each of the Participant’s Sub Accounts in proportion to the
respective credit balance of each Sub Account.

          (d) Early Payment and Withdrawal. With respect to amounts deferred before January 1,
2005, and upon written notice to the Plan Administrator any time prior to a Participant’s
Termination Date, a Participant shall be paid, within thirty (30) days of the date of such written
notice, an amount equal to ninety percent (90%) of the credit balance of all Sub Accounts of the

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Participant. If a Participant makes such election for early payment (i) the Participant shall
forfeit, have debited from the Participant’s Deferral Account, and not have any right to receive
payment with respect to, ten percent (10%) of the credit balance of all Sub Accounts of the
Participant, (ii) the Participant shall thereafter cease to be a Participant, and (iii) the
Participant shall not be permitted to again participate in the Plan until at least the January
1st which is at least twelve (12) months after the date of such withdrawal. Early
payments under this Section 8(d) shall not be available with respect to deferrals made after
December 31, 2004.

          (e) Withholding and Other Taxes. Any payments pursuant to this Section 8 shall be
subject to withholding of federal, state and local income taxes and any other applicable
withholding or employment taxes.

     9. BENEFICIARIES.

     Each Participant shall have the right to designate a beneficiary (a “Beneficiary”) who is to
succeed to the Participant’s right to receive payments hereunder in the event of the Participant’s
death. If either (a) a Participant dies without designating a Beneficiary, (ii) the Beneficiary
designated by a Participant is not surviving when a payment is to be made to such person under the
Plan, and no contingent Beneficiary has been designated by the Participant, or (iii) the
Beneficiary designated by a Participant cannot be located by the Plan Administrator within 1 year
from the date benefits are to be paid to such person; then, in any of such events, the Beneficiary
of such Participant with respect to any benefits that remain payable under the Plan shall be the
estate of the Participant. No designation of Beneficiary shall be valid unless in writing signed
by the Participant, dated, and delivered to the Company. Beneficiaries may be changed by a
Participant without the consent of any prior Beneficiaries.

     10. RIGHTS UNSECURED; UNFUNDED PLAN; ERISA.

     This Plan and the Company’s obligations arising hereunder to pay benefits to a Participant or
his beneficiary constitutes a mere promise by the Company to make payments in the future in
accordance with the terms of this Plan and all Participants and their respective beneficiaries have
the status of a general unsecured creditor of the Company. Neither a Participant nor his
beneficiary shall have any rights in or against any specific assets of the Company, including,
without limitation, the assets of the Trust or any assets of the Company which correspond with the
Investments in which Participants can deem their Deferral Accounts to be invested.

     It is the intention of the Company that this Plan and the Company’s obligations hereunder be
unfunded for income tax purposes and for purposes of Title I of ERISA.

     The Company shall treat this Plan as an unfunded plan maintained for a select group of
management associates exempt from Parts 2, 3 and 4 of Title I of ERISA. The Company shall comply
with the reporting and disclosure requirements of Part 1 of Title I of ERISA in accordance with
U.S. Department of Labor Regulation §2520.104-23.

-12-

 

     11. NAMED FIDUCIARY AND CLAIMS PROCEDURES

          (a) The Company is hereby designated as the named fiduciary under the Plan and shall have the
authority to control and manage the operation and administration of this Plan, and shall be
responsible for establishing and carrying out the terms of this Plan.

               (i) If for any reason a claim for benefits under this Plan is denied by the Company, the Plan
Administrator shall deliver to the claimant a written explanation setting forth the specific
reasons for the denial, pertinent references to the Section(s) of this Plan and any other
applicable document on which the denial is based, such other data as may be pertinent and
information on the procedures to be followed by the claimant in obtaining a review of his claim,
all written in a manner calculated to be understood by the claimant. For this purpose:

     (A) The claimant’s claim shall be deemed filed when presented in
writing to the Plan Administrator.

     (B) The Plan Administrator’s explanation shall be in writing delivered
to the claimant within 90 days of the date the claim is filed.

               (ii) The claimant shall have 60 days following his receipt of the denial of the claim to file
with the Plan Administrator a written request for review of the denial. For such review, the
claimant or his representative may submit pertinent documents and written issues and comments.

               (iii) The Plan Administrator shall decide the issue on review and furnish the claimant with a
copy within 60 days of receipt of the claimant’s request for review of his claim. The decision on
review shall be in writing and shall include specific reasons for the decision, written in a manner
calculated to be understood by the claimant, as well as specific references to the pertinent Plan
provisions on which the decision is based. If a copy of the decision is not so furnished to the
claimant within such 60 days, the claim shall be deemed denied on review.

     12. NONASSIGNABILITY.

     The rights of a Participant or his beneficiaries to payments pursuant to this Plan are not
subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance,
attachment, or garnishment by creditors of the Participant or his beneficiaries.

     13. AMENDMENT OF THE PLAN.

     The Plan Administrator may amend this Plan at any time, without the consent of the
Participants or their beneficiaries, provided, however, that no amendment shall divest any
Participant or beneficiary of the credit balance of his Deferral Account except to the extent
expressly provided otherwise in this Plan.

-13-

 

     The Plan Administrator may amend the terms of any Participation Agreement, prospectively or
retroactively, but, subject to Section 3 above, no such amendment shall impair the rights of any
Participant without the Participant’s consent.

     Subject to the above provisions, the Plan Administrator shall have broad authority to amend
the Plan to take into account changes in applicable securities and tax laws and accounting rules,
as well as other developments.

     14. TERMINATION OF THIS PLAN.

     The Plan Administrator may terminate this Plan at any time. Upon termination of this Plan,
distribution of the credit balance of each Participant’s Deferral Account shall be made in the
manner and at the time heretofore prescribed, it being the intent that no such termination shall
accelerate the payment of any amounts already credited to a Participant’s Deferral Account.

     15. EXPENSES.

     Costs of administration of this Plan will be paid by the Company.

     16. NO SPECIAL EMPLOYMENT RIGHTS.

     Nothing contained in this Plan shall confer upon any Participant any right with respect to the
continuation of his employment by the Company or interfere in any way with the right of the
Company, subject to the terms of any separate employment agreement to the contrary, at any time to
terminate such employment or to increase or decrease the compensation of the Participant from the
rate in existence from time to time.

     17. NOTICES.

     (a) In Writing; Address. All notices, demands, consents and other communications
provided for in this Plan shall be in writing, shall be given by a method prescribed in Section
17(b) hereof, and shall be given to the party to whom it is addressed at the address set forth
below or at such other address as such party hereto may hereafter specify by at least fifteen (15)
days prior written notice:

	 	 	 	 	 	 	 
	 	 	If to the Company:	 	CheckFree Corporation
	 	 	 	 	4411 East Jones Bridge Road
	 	 	 	 	Norcross, GA 30092
	 

	 	 	 	Attention:
	 	Plan Administrator — Nonqualified
	 

	 	 	 	 	 	Deferred Compensation Plan
	 
	 	 	 	 	 	 
	 	 	If to a Participant:	 	To the address designated by Participant to the
Company in the Participant’s respective Participation
Agreement.

-14-

 

          (b) Method. Any notice, report or other communication shall be delivered by hand or
nationally recognized overnight courier which maintains evidence of receipt, or mailed by United
States certified mail, return receipt requested, postage prepaid, deposited in a United States post
office or a depository for the receipt of mail regularly maintained by the Post Office. Any
notices, demands, consents or other communication shall be deemed given when received at the
address for which such party has given notice in accordance with the provisions hereof. Refusal to
accept delivery at the address specified for the giving of such notice in accordance herewith shall
constitute delivery.

     18. MISCELLANEOUS.

     (a) Headings. The headings of the sections of this Plan are inserted solely for
convenience and are not to be given controlling effect, or used as an aid in the construction of
any provision hereof.

     (b) Pronouns. All pronouns and any variations thereof shall be deemed to refer to the
masculine, feminine, neuter, singular or plural as the identity of the person or persons may
require.

     (c) Exhibits. All Exhibits attached to this Plan are incorporated herein and made a
part hereof without need for any further reference.

     (d) 409A Compliance. The provisions of this Plan, including all definitions, shall be
interpreted in a manner consistent with Section 409A of the Code and any guidance promulgated
thereunder.

Adopted by the Company as of the 26th day of July, 2007.

	 	 	 	 	 	 	 
	 	 	CHECKFREE CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Peter J. Kight	 	 
	 

	 	Name:
	 	 

Peter J. Kight
	 	 
	 

	 	Title:
	 	Chairman and Chief Executive Officer	 	 

-15-

 

EXHIBIT A

INVESTMENTS

     The following Investments sponsored by the Investment Offeror are available for Participants
to designate for their Deferral Accounts to be deemed to be invested:

Name of Fund

IRT Stable Value Fund

Bond Fund of America

IRT Total Return Fund

IRT 500 Index

AIM Value Fund

AIM Constellation Fund

IRT International Equity FundEX-10(A)(I)

 

Exhibit 10(a)(i)

			
	 	 	 
	F O R M
	 	FY 08 U.S. AWARDS

Stock Option Award and Agreement

[DATE]

Dear
                                        :

H. J. Heinz Company is pleased to advise you that, effective                     , you have been granted
options (“Options”) to purchase
                     shares of H. J. Heinz Company Common Stock, at an
exercise price of $                      per share, in accordance with the terms and conditions of the stock
option plan under which the Options were granted (the “Plan”), a copy of which is posted along with
a copy of the Prospectus. The Options are also granted under and governed by the terms and
conditions of this letter agreement (“Agreement”), which shall control in the event of a conflict
with the terms and conditions of the Plan. For purposes of this Agreement, the “Company” shall
refer to H. J. Heinz Company and its Affiliated Companies (as defined in Section 4 below) in the
United States and throughout the world. Unless otherwise specifically defined herein, all other
capitalized terms used in this Agreement shall have the same defined meanings as the capitalized
terms in the Second Amended and Restated H.J. Heinz Company Fiscal Year 2003 Stock Incentive Plan
(the “2003 Stock Incentive Plan”), which are hereby incorporated by reference into this Agreement
and a copy of which is posted along with this Agreement.

	1.	 	The Options are Non-Statutory Options, as defined in the Plan. The Options will vest
                     beginning on                     , and will expire on                     , subject to earlier expiration in
accordance with the terms of this Agreement or the Plan.
	 
	2.	 	Subject to paragraphs 3 and 4 of this Agreement, the exercise period for the Options,
including the effect of the termination of your employment with the Company or a “Change in
Control”, shall be governed by and determined in accordance with Section 8(B) of the 2003
Stock Incentive Plan, which is incorporated herein by reference and which shall control over
and supersede any additional, different or inconsistent terms or provisions contained in the
Plan; provided, however, that in the event of termination of your employment without “Cause”,
or by you for Good Reason, the “Expiration Date” shall be five years after the “Date of
Termination” or the date of expiration specified in Section 1 above, whichever is sooner.
	 
	3.	 	You agree that you shall not, during the term of your employment by the Company and for 12
months after termination of your employment, regardless of the reason for the termination,
either directly or indirectly, solicit, take away or attempt to solicit or take away any other
employee of the Company, either for your own purpose or for any other person or entity. You
further agree that you shall not, during the term of your employment by the Company or at any
time thereafter, use or disclose Confidential Information (as defined in Section 4

 

 

			
	 	 	 
	F O R M
	 	FY 08 U.S. AWARDS

below) except as directed by, and in furtherance of the business purposes of, the Company.
You acknowledge that the breach or threatened breach of this paragraph 3 will result in
irreparable injury to the Company for which there is no adequate remedy at law because,
among other things, it is not readily susceptible of proof as to the monetary damages that
would result to the Company. You consent to the issuance of any restraining order or
preliminary restraining order or injunction with respect to any conduct by you that is
directly or indirectly a violation or a threatened violation of this paragraph. Any breach
by you of the provisions of this paragraph 3 will, at the option of the Company and in
addition to all other rights and remedies available to the Company at law, in equity or
under this Agreement, result in the forfeiture of all unexercised options granted to you
under this Agreement as of the date of such breach.

	4.	 	As used in this paragraph 4, the following terms shall have the respective indicated
meanings:
	 
	 	 	“Affiliated Company or Companies” means any person, corporation, limited liability company,
partnership or other entity controlling, controlled by or under common control with the
Company.
	 
	 	 	“Confidential Information” means technical or business information not readily available to
the public or generally known in the trade, including but not limited to inventions; ideas;
improvements; discoveries; developments; formulations; ingredients; recipes; specifications;
designs; standards; financial data; sales, marketing and distribution plans, techniques and
strategies; customer and supplier information; equipment; mechanisms; manufacturing plans;
processing and packaging techniques; trade secrets and other confidential information,
knowledge, data and know-how of the Company, whether or not they originated with you, or
information which the Company received from third parties under an obligation of
confidentiality.
	 
	 	 	“Conflicting Product” means any product or process of any person or organization, other than
the Company, in existence or under development, (1) that competes with a product or process
of the Company upon or with which you shall have worked during the two years prior to the
termination of your employment with the Company or (2) whose use or marketability could be
enhanced by application to it of Confidential Information acquired by you in connection with
your employment by the Company during such two year period. For purposes of this
definition, it shall be conclusively presumed that you have knowledge of information to
which you have been directly exposed through actual receipt or review of memorandum or
documents containing such information or through actual attendance at meetings at which such
information was discussed or disclosed.
	 
	 	 	“Conflicting Organization” means any person or organization that is engaged in or about to
become engaged in research on or the development, production,

 

 

			
	 	 	 
	F O R M
	 	FY 08 U.S. AWARDS

	 	 	marketing or selling of or the use in production, marketing or sale of a Conflicting
Product.
	 
	 	 	In partial consideration for the Options granted to you hereunder, you agree that, for a
period of eighteen (18) months following the date of the termination of your employment with
the Company, you shall not render services, directly or indirectly, as a director, officer,
employee, agent, consultant or otherwise to any Conflicting Organization in any geographic
area or territory in which such Conflicting Organization is engaged in or about to become
engaged in the research on or the development, production, marketing or sale of or the use
in production, marketing or sale of a Conflicting Product. The foregoing limitation does
not apply to a Conflicting Organization whose business is diversified and that, as to that
part of its business to which you render services, is not engaged in the development,
production, marketing, use or sale of a Conflicting Product, provided that the Company shall
receive separate written assurances satisfactory to the Company from you and the Conflicting
Organization that you shall not render services during such period with respect to a
Conflicting Product or directly or indirectly provide or reveal Confidential Information to
such organization. If you shall render services to any Conflicting Organization other than
as expressly permitted herein or shall provide or reveal Confidential Information to such
Conflicting Organization, you shall (i) immediately return to the Company the pre-tax income
resulting from any exercise of the Options or any portion thereof by you, unless such
exercise occurred more than twelve (12) months prior to the date of the termination of your
employment; and (ii) forfeit any unexercised portion of the Options. You acknowledge and
agree that the restrictions set forth in this paragraph 4 are reasonable and necessary to
protect the goodwill and legitimate business interests of the Company and to prevent the
disclosure of the Company’s Confidential Information and trade secrets. If any of the
provisions herein shall for any reason be determined by a court of competent jurisdiction to
be overly broad as to scope of activity, duration or territory, such provision shall be
limited or reduced so as to be enforceable to the extent compatible with existing law.
	 
	5.	 	You acknowledge and agree that nothing in this Agreement, the Plan or the 2003 Stock
Incentive Plan shall confer upon you any right with respect to future awards or continuation
of your employment, nor shall it constitute an employment agreement or interfere in any way
with your right or the right of the Company to terminate your employment, with or without
cause, and with or without notice, subject to the terms of any written employment contract
that you may have with the Company that is signed by both you and an authorized representative
of the Company.
	 
	6.	 	You consent to the collection, use, and processing of personal data (including name, home
address and telephone number, identification number and number of options held) by the Company
or a third party engaged by the Company for the purpose of implementing, administering and
managing the Plan and other stock

 

 

			
	 	 	 
	F O R M
	 	FY 08 U.S. AWARDS

option plans of the Company (the “Plans”). You further consent to the release of personal
data (a) to such a third party administrator, which, at the option of the Company, may be
designated as the exclusive broker in connection with the Plans, or (b) to any Affiliated
Company, wherever located. You hereby waive any data privacy rights with respect to such
data to the extent that receipt, possession, use, retention, or transfer of the data is
authorized hereunder.

	7.	 	The Plan is discretionary in nature and the Company may modify, cancel or terminate it at any
time without prior notice. While stock options may be granted under any of the Company’s
Plans on one or more occasions or even on a regular schedule, each grant is a one time event,
is not an entitlement to an award of grants of stock options in the future, and does not
create any contractual or other right to receive an award of stock options, compensation or
benefits in lieu of stock options or any other compensation or benefits in the future.
	 
	8.	 	This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania, without regard to its choice of law provisions.

This grant of Options is subject to your on-line acceptance of the terms and conditions of this
Agreement through the Fidelity website.

	 	 	 	 	 
	 	H.J. HEINZ COMPANY

 	 
	 	By:  	 	 
	 	 	William R. Johnson 	 
	 	 	Chairman of the Board, President and

Chief Executive Officer 	 
	 

	 	 	 
	Accepted:

	 	Signed electronically
	 
	 	 
	Date:

	 	Acceptance Date

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