Document:

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                                                                    EXHIBIT 10.2

                              CORILLIAN CORPORATION

                               SEVERANCE AGREEMENT

This Severance Agreement (the "Agreement") is made and entered into by and
between __________________ (the "Employee") and Corillian Corporation (the
"Company"), effective as of the latest date set forth by the signatures of the
parties hereto below.

                                 R E C I T A L S

         A.       Because of Employee's significant role in the Company's
business, the Compensation Committee (the "Committee") of the Board of Directors
of the Company (the "Board") has determined that it is in the best interests of
the Company and its shareholders to establish clear terms for the termination of
Employee's employment with the Company.

         B.       In addition, it is expected that the Company from time to time
will consider the possibility of an acquisition by another company or other
change of control as a means of enhancing shareholder value. The Committee
recognizes that such consideration can be a distraction to the Employee and can
cause the Employee to consider alternative employment opportunities. The
Committee has determined that it is in the best interests of the Company and its
shareholders to assure that the Company will have the continued dedication and
objectivity of the Employee, notwithstanding the possibility, threat or
occurrence of a Change of Control (as defined below) of the Company.

         C.       The Committee believes that it is imperative to provide the
Employee with certain severance benefits upon the Employee's termination of
employment, including as a result of a Change of Control.

         D.       Certain capitalized terms used in the Agreement but not
defined when first used are defined in Section 6 below.

NOW, THEREFORE, the parties hereto agree as follows:

1.       TERM OF AGREEMENT. This Agreement shall terminate upon the date that
all obligations of the parties hereto with respect to this Agreement have been
satisfied.

2.       AT-WILL EMPLOYMENT. The Company and the Employee acknowledge that,
unless there is a written employment agreement between the Company and the
Employee, which this Agreement is acknowledged by the Employee not to be, the
Employee's employment is and shall continue to be at-will, as defined under
applicable law. If the Employee's employment terminates for any reason, the
Employee shall not be entitled to any payments, benefits, damages, awards or
compensation except for those

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payments that may be set forth herein or that may be available pursuant to other
written agreements with the Company.

3.       SEVERANCE BENEFITS.

         (a) Termination Not in Connection with a Change of Control. If the
         Employee's employment terminates as a result of Involuntary Termination
         (as defined below) other than for Cause at any time more than 90 days
         preceding a Change of Control or announcement of a Change of Control,
         whichever occurs earlier, then, subject to Section 5, the Employee
         shall be entitled to receive the following severance benefits:

                  (1) Severance Payment. After the condition set forth in
         Section 3(e) is satisfied, a cash payment in an amount equal to the
         Severance Payment;

                  (2) Timing of Severance Payments. Any severance payment to
         which the Employee is entitled under Section 3(a)(1) shall be paid by
         the Company to the Employee (or to the Employee's successor in
         interest, pursuant to Section 7(b)) in accordance with the Company's
         customary payroll schedule over the Severance Period after the
         condition set forth in Section 3(e) has been satisfied.

         (b) Termination in Connection with a Change of Control. If the
         Employee's employment terminates as a result of Involuntary Termination
         (as defined below) other than for Cause (i) within 90 days preceding a
         Change of Control or announcement of a Change of Control, whichever
         occurs earlier, or (ii) within twelve (12) months following a Change of
         Control or the announcement of a Change of Control, whichever comes
         later, then, subject to Section 5, the Employee shall be entitled to
         receive the following severance benefits:

                  (1) Severance Payment. After the condition set forth in
         Section 3(e) is satisfied, a cash payment in an amount equal to the
         Severance Payment;

                  (2) Timing of Severance Payments. Any severance payment
         to which the Employee is entitled under Section 3(b)(1) shall be paid
         by the Company to the Employee (or to the Employee's successor in
         interest, pursuant to Section 7(b)) in accordance with the Company's
         customary payroll schedule over the Severance Period after the
         condition set forth in Section 3(e) has been satisfied.

         (c) Voluntary Resignation; Termination for Cause. If the Employee's
         employment terminates by reason of the Employee's voluntary resignation
         (and is not an Involuntary Termination), or if the Employee is
         terminated for Cause, then the Employee shall not be entitled to
         receive severance or other benefits except for those (if any) as may
         then be established under the Company's then existing option and
         benefits plans and practices or pursuant to other written agreements
         with the Company.

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         (d) Disability; Death. If the Company terminates the Employee's
         employment as a result of the Employee's Disability, or the Employee's
         employment is terminated due to the death of the Employee, then the
         Employee shall not be entitled to receive severance or other benefits
         except for those (if any) as may then be established under the
         Company's then existing severance and benefits plans and practices or
         pursuant to other agreements with the Company.

         (e) Release. As a condition to the entitlement to and receipt of any
         payments under this Agreement, after termination, but at least eight
         days before any payments are due, Participant must execute and deliver
         the Release attached hereto as Exhibit A. To receive payments under
         this Agreement, the Release must not have been rescinded or revoked as
         permitted thereby.

4.       ATTORNEY FEES, COSTS AND EXPENSES. If any party files an action in any
court or other forum or commences an arbitration to enforce compliance with any
term of this Agreement or to allege a breach thereof, the party prevailing in
that action shall be entitled to recover all attorney's fees, costs and any
necessary disbursements incurred therein, including, without limitation, expert
witness fees, deposition costs, court clerk fees, service fees, and printing
costs, in addition to any other relief to which the party may be entitled at
arbitration, trial or upon appeal.

5.       LIMITATION ON PAYMENTS.

         (a) If severance and other benefits provided for in this Agreement or
         otherwise payable to the Employee (i) constitute "parachute payments"
         within the meaning of Section 280G of the Internal Revenue Code of
         1986, as amended (the "Code") and (ii) but for this Section 5, would be
         subject to the excise tax imposed by Section 4999 of the Code, then the
         Employee's severance benefits under Section 3(a)(1) shall be either

                  (1) delivered in full, or

                  (2) delivered as to such lesser extent which would result in
         no portion of such severance benefits being subject to excise tax under
         Section 4999 of the Code, whichever of the foregoing amounts, taking
         into account the applicable federal, state and local income taxes and
         the excise tax imposed by Section 4999, results in the receipt by the
         Employee on an after-tax basis, of the greatest amount of severance
         benefits, notwithstanding that all or some portion of such severance
         benefits may be taxable under Section 4999 of the Code. Any taxes due
         under Section 4999 shall be the responsibility of the Employee.

         (b) If a reduction in the payments and benefits that would otherwise be
         paid or provided to the Employee under the terms of this Agreement is
         necessary to comply with the provisions of Section 5(a), the Employee
         shall be entitled to select which payments or benefits will be reduced
         and the manner and method of any such reduction of such payments or
         benefits subject to reasonable limitations (including,

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         for example, express provisions under the Company's benefit plans) (so
         long as the requirements of Section 5(a) are met). Within thirty (30)
         days after the amount of any required reduction in payments and
         benefits is finally determined in accordance with the provisions of
         Section 5(c), the Employee shall notify the Company in writing
         regarding which payments or benefits are to be reduced. If no
         notification is given by the Employee, the Company will determine which
         amounts to reduce. If, as a result of any reduction required by Section
         5(a), amounts previously paid to the Employee exceed the amount to
         which the Employee is entitled, the Employee will promptly return the
         excess amount to the Company.

         (c) Unless the Company and the Employee otherwise agree in writing, any
         determination required under this Section 5 shall be made in writing by
         the Company's Accountants immediately prior to Change of Control, whose
         determination shall be conclusive and binding upon the Employee and the
         Company for all purposes. For purposes of making the calculations
         required by this Section 5, the Accountants may, after taking into
         account the information provided by the Employee, make reasonable
         assumptions and approximations concerning applicable taxes and may rely
         on reasonable, good faith interpretations concerning the application of
         Sections 280G and 4999 of the Code. The Company and the Employee shall
         furnish to the Accountants such information and documents as the
         Accountants may reasonably request in order to make a determination
         under this Section. The Company shall bear all costs the Accountants
         may reasonably incur in connection with any calculations contemplated
         by this Section 5.

         (d) Any amounts received by Employee as cash compensation for
         employment or services rendered for any third party during the
         Severance Period will be offset against amounts payable by the Company
         under this Agreement.

6.       DEFINITION OF TERMS. The following terms referred to in this Agreement
shall have the following meanings:

         (a) "ANNUAL COMPENSATION" means an amount equal to the greater of (i)
         the Employee's Company base salary for the twelve (12) months preceding
         the Change of Control or (ii) the Employee's Company base salary on an
         annualized basis.

         (b) "CAUSE" means (i) any act of personal dishonesty taken by the
         Employee in connection with his responsibilities as an employee and
         intended to result in substantial personal enrichment of the Employee,
         (ii) the conviction of a felony, (iii) a willful act by the Employee
         that constitutes gross misconduct and that is injurious to the Company,
         or (iv) for a period of not less than thirty (30) days following
         delivery to the Employee of a written demand for performance from the
         Company that describes the basis for the Company's belief that the
         Employee has not substantially performed his duties, continued
         violations by the Employee of the Employee's obligations to the Company
         that are demonstrably willful and deliberate on the Employee's part.
         Any dismissal for cause in accordance with Subsection (iv)

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         of this Section 6(b) must be approved by the Company's Board of
         Directors prior to the dismissal date.

         (c) "CHANGE OF CONTROL" means the occurrence of any of the following
         events:

                  (1)      Any "person" (as such term is used in Sections 13(d)
         and 14(d) of the Securities Exchange Act of 1934, as amended) becomes
         the "beneficial owner" (as defined in Rule 13d-3 under said Act),
         directly or indirectly, of securities of the Company representing fifty
         percent (50%) or more of the total voting power represented by the
         Company's then outstanding voting securities;

                  (2)      A change in the composition of the Board occurring
         within a twelve-month period, as a result of which fewer than a
         majority of the directors are Incumbent Directors. "Incumbent
         Directors" shall mean directors who either (A) are directors of the
         Company as of the date hereof, or (B) are elected, or nominated for
         election, to the Board with the affirmative votes of at least a
         majority of the Incumbent Directors at the time of such election or
         nomination (but shall not include an individual whose election or
         nomination is in connection with an actual or threatened proxy contest
         relating to the election of directors to the Company);

                  (3)      The consummation of a merger or consolidation of the
         Company with any other corporation, other than a merger or
         consolidation that would result in the voting securities of the Company
         outstanding immediately prior thereto continuing to represent (either
         by remaining outstanding or by being converted into voting securities
         of the surviving entity or such surviving entity's parent) at least
         fifty percent (50%) of the total voting power represented by the voting
         securities of the Company or such surviving entity or such surviving
         entity's parent outstanding immediately after such merger or
         consolidation;

                  (4)      The consummation of the sale or disposition by the
         Company of all or seventy-five percent (75%) or more of the Company's
         assets.

         (d) "DISABILITY" shall mean that the Employee has been unable to
         perform his or her Company duties as the result of incapacity due to
         physical or mental illness, and such inability, at least twenty-six
         (26) weeks after its commencement, is determined to be total and
         permanent by a physician selected by the Company or its insurers and
         acceptable to the Employee or the Employee's legal representative (such
         Agreement as to acceptability not to be unreasonably withheld).
         Termination resulting from Disability may only be effected after at
         least thirty (30) days' written notice by the Company of its intention
         to terminate the Employee's employment. In the event that the Employee
         resumes the performance of substantially all of his or her duties
         hereunder before the termination of employment becomes effective, the
         notice of intent to terminate shall automatically be deemed to have
         been revoked.

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         (e) "INVOLUNTARY TERMINATION" shall mean (i) without the Employee's
         express written consent, the significant reduction of the Employee's
         duties, authority or responsibilities, relative to the Employee's
         duties, authority or responsibilities as in effect immediately prior to
         such reduction, or the assignment to the Employee of such significantly
         reduced duties, authority or responsibilities; (ii) without the
         Employee's express written consent, a substantial reduction of the
         facilities and perquisites (including office space and location)
         available to the Employee immediately prior to such reduction; (iii)
         without the Employee's express written consent, a reduction by the
         Company of at least five percent (5%) in the base salary or target
         bonus of the Employee as in effect immediately prior to such reduction,
         disregarding for purposes of such calculation any across-the-board
         changes that affect substantially all employees of the Company; (iv)
         without the Employee's express written consent, a material reduction by
         the Company in the kind or level of employee benefits, including
         bonuses, to which the Employee was entitled immediately prior to such
         reduction with the result that the Employee's overall benefits package
         is significantly reduced, disregarding for purposes of such calculation
         any across-the-board changes that affect substantially all employees of
         the Company; (v) without the Employee's express written consent, the
         relocation of the Employee to a facility or a location more than fifty
         (50) miles from the Employee's then present location, without the
         Employee's express written consent; (vi) any purported termination of
         the Employee by the Company that is not effected for Disability or for
         Cause, or any purported termination for which the grounds relied upon
         are not valid; (vii) the failure of the Company to obtain the
         assumption of this Agreement by any successors contemplated in Section
         7(a) below; or (viii) any act or set of facts or circumstances that
         would constitute a constructive termination of the Employee under
         Oregon law.

         (f) "SEVERANCE PAYMENT" means the Employee's Annual Compensation for
         the Severance Period.

         (g) "SEVERANCE PERIOD" means (i) six (6) months if Section 3(a) is
         applicable and (ii) twelve (12) months if Section 3(b) is applicable.

         (h) "TERMINATION DATE" shall mean (i) if this Agreement is terminated
         by the Company for Disability, thirty (30) days after notice of
         termination is given to the Employee (provided that the Employee shall
         not have returned to the performance of the Employee's duties on a
         full-time basis during such thirty (30)-day period), (ii) if the
         Employee's employment is terminated by the Company for any other
         reason, the date on which a notice of termination is given, provided
         that if within thirty (30) days after the Company gives the Employee
         notice of termination, the Employee notifies the Company that a dispute
         exists concerning the termination or the benefits due pursuant to this
         Agreement, then the Termination Date shall be the date on which such
         dispute is finally determined, either by mutual written agreement of
         the parties, or a by final judgment, order or decree of a court of
         competent jurisdiction (the time for appeal therefrom having expired
         and no appeal having been perfected),

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         or (iii) if the Agreement is terminated by the Employee, the date on
         which the Employee delivers the notice of termination to the Company.

7.       SUCCESSORS.

         (a) Company's Successors. Any successor to the Company (whether direct
         or indirect and whether by purchase, merger, consolidation, liquidation
         or otherwise) to all or substantially all of the Company's business
         and/or assets shall assume the obligations under this Agreement and
         agree expressly to perform the obligations under this Agreement in the
         same manner and to the same extent as the Company would be required to
         perform such obligations in the absence of a succession. For all
         purposes under this Agreement, the term "Company" shall include any
         successor to the Company's business and/or assets which executes and
         delivers the assumption agreement described in this Section 7(a) or
         which becomes bound by the terms of this Agreement by operation of law.

         (b) Employee's Successors. The terms of this Agreement and all rights
         of the Employee hereunder shall inure to the benefit of, and be
         enforceable by, the Employee's personal or legal representatives,
         executors, administrators, successors, heirs, distributees, devisees
         and legatees.

8.       NOTICE.

         (a) General. Notices and all other communications contemplated by this
         Agreement shall be in writing and shall be deemed to have been duly
         given when personally delivered or when mailed by U.S. registered or
         certified mail, return receipt requested and postage prepaid. In the
         case of the Employee, mailed notices shall be addressed to him or her
         at the home address which he or she most recently communicated to the
         Company in writing. In the case of the Company, mailed notices shall be
         addressed to its corporate headquarters, and all notices shall be
         directed to the attention of its Secretary.

         (b) Notice of Termination. Any termination by the Company for Cause or
         by the Employee as a result of a voluntary resignation or an
         Involuntary Termination shall be communicated by a notice of
         termination to the other party hereto given in accordance with Section
         8(a) of this Agreement. Such notice shall indicate the specific
         termination provision in this Agreement relied upon, shall set forth in
         reasonable detail the facts and circumstances claimed to provide a
         basis for termination under the provision so indicated, and shall
         specify the termination date (which shall be not more than thirty (30)
         days after the giving of such notice). The failure by the Employee to
         include in the notice any fact or circumstance which contributes to a
         showing of Involuntary Termination shall not waive any right of the
         Employee hereunder or preclude the Employee from asserting such fact or
         circumstance in enforcing his rights hereunder.

9.       MISCELLANEOUS PROVISIONS.

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         (a) Authority of Company. The Company has the authority in its sole
         discretion to interpret the terms of the Agreement, decide questions of
         eligibility or benefits under the Agreement, and make any related
         findings of fact. All decisions will be final and binding to the
         fullest extent permitted by law.

         (b) No Duty to Mitigate. The Employee shall not be required to mitigate
         the amount of any payment contemplated by this Agreement.

         (c) Waiver. No provision of this Agreement shall be modified, waived or
         discharged unless the modification, waiver or discharge is agreed to in
         writing and signed by the Employee and by an authorized officer of the
         Company (other than the Employee). No waiver by either party of any
         breach of, or of compliance with, any condition or provision of this
         Agreement by the other party shall be considered a waiver of any other
         condition or provision or of the same condition or provision at another
         time.

         (d) Whole Agreement. This Agreement and any outstanding stock option
         agreements represent the entire understanding of the parties hereto
         with respect to the subject matter hereof and supersedes all prior
         arrangements and understandings regarding the same subject matter,
         including, without limitation, the Change of Control Severance
         Agreement between the parties. Other than the agreements described in
         the preceding sentence, no agreements, representations or
         understandings (whether oral or written and whether express or implied)
         that are not expressly set forth in this Agreement have been made or
         entered into by either party with respect to the subject matter hereof.

         (e) Governing Law. This Agreement shall be governed by, and construed
         and interpreted in accordance with, the laws of the State of Oregon
         without regard to principles of conflicts of laws.

         (f) Severability. The invalidity or unenforceability of any provision
         or provisions of this Agreement shall not affect the validity or
         enforceability of any other provision hereof, which shall remain in
         full force and effect.

         (g) Withholding. All payments made pursuant to this Agreement will be
         subject to withholding of applicable income and employment taxes.

         (h) Counterparts. This Agreement may be executed in counterparts, each
         of which shall be deemed an original, but all of which together will
         constitute one and the same instrument.

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         IN WITNESS WHEREOF, each of the parties has executed this Agreement, in
the case of the Company by its duly authorized officer, as of the day and year
set forth below.

                                       "Company"

                                       CORILLIAN CORPORATION

                                       By: _____________________________________
                                       Title: __________________________________
                                       Name: ___________________________________

                                       "Employee"

                                       _________________________________________
                                       Print Name: _____________________________

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                                    EXHIBIT A
                                RELEASE AGREEMENT

This Release Agreement (this "Agreement") is entered into this ___ day of
_________, 20__, by and between Corillian Corporation, an Oregon corporation,
and its subsidiaries and divisions (the "Company"), and ________________
("Employee").

                                    RECITALS

A.       The Company and the Employee are parties to a Severance Agreement,
         dated as of _______________, 20__ (the "Severance Agreement").

B.       Under the terms of the Severance Agreement, Employee agreed to enter
         into this Agreement.

NOW, THEREFORE, for in consideration of the mutual promises contained herein,
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties agree as follows:

                                    AGREEMENT

1.       SEVERANCE; RELEASE. In consideration of the payments to be made to
Employee under the Severance Agreement, Employee, on Employee's own behalf and
on behalf of Employee's descendants, dependents, heirs, executors, successors,
assigns and administrators hereby (1) covenants not to sue, (2) fully releases
and discharges, and (3) agrees to indemnify and hold harmless the Company and
each of its related companies or entities, and each of its predecessors,
successors, assigns, officers, directors, shareholders, representatives,
attorneys, employees and agents, past and present, with respect to and from and
against any and all claims, demands, obligations, causes of action, debts,
expenses, damages, judgments, orders and liabilities of whatever kind or nature,
in law, equity or otherwise, whether now known or unknown, suspected or
unsuspected, matured or unmatured, and whether or not concealed or hidden
(collectively, the "Claims"), which Employee now owns or holds or has at any
time heretofore owned or held or had, or may at any time own or hold or have,
against the Company, including without limiting the generality of the foregoing,
any Claims arising out of or in any way connected with any transactions,
occurrences, acts or omissions regarding or relating to Employee's employment
with the Company or any of its affiliates, or the termination of Employee's
employment, including without limitation any claims arising from any alleged
violation by the Company of any federal, state or local statutes, ordinances or
common laws, including, but not limited to, the Age Discrimination in Employment
Act, Title VII of the Civil Rights Act of 1964 and/or the Civil Rights Act of
1991, the Americans with Disabilities Act, and the Family and Medical Leave Act
of 1993, or any claim for severance pay, bonus, sick leave, holiday pay,
vacation pay, life insurance, health or medical insurance or any other fringe
benefit, workers' compensation or disability.

2.       ADEA WAIVER. Employee expressly acknowledges and agrees that, by
entering into this Agreement, Employee is waiving any and all rights or claims
that Employee may have arising under the Age Discrimination in Employment Act of
1967, as amended, which have arisen on or before the date of execution of this
Agreement. Employee further expressly acknowledges and agrees to the following:

2.1.     CONSIDERATION. In return for this Agreement, Employee will receive
consideration beyond that which Employee was already entitled to receive before
entering into this Agreement.

2.2.     COUNSEL. Employee was orally advised by Company and was advised in
writing to consult with an attorney before signing this Agreement.

<PAGE>

2.3.     REVOCATION. Employee was informed that Employee has seven (7) days
following the date of execution of this Agreement in which to revoke this
Agreement.

3.       WAIVER OF KNOWN AND UNKNOWN CLAIMS. In executing this Agreement,
Employee intends to bar each and every claim, demand and cause of action
specified above; in furtherance of this intention Employee hereby expressly
waives any and all rights and benefits conferred upon Employee by any statutory
provision and expressly agrees that this Agreement will be given full force and
effect according to each and all of its express terms and provisions. This
Agreement extends to unknown and unsuspected claims, demands and causes of
action, if any, as well as to those relating to any other claims, demands and
causes of action hereinabove specified. Employee makes this waiver with full
knowledge of Employee's rights, after adequate opportunity to consult with legal
counsel.

Employee acknowledges that Employee may hereafter discover claims or facts in
addition to or different from those which Employee now knows or believes to
exist with respect to the subject matter of this Agreement, and which, if known
or suspected at the time of executing this Agreement may have materially
affected this settlement. Nevertheless, Employee hereby waives any right, claim
or cause of action that might arise as a result of such different or additional
claims or facts. Employee hereby understands and acknowledges the significance
and consequence of such release and waiver.

This Agreement constitutes a full release in accordance with its terms.
Participant knowingly and voluntarily waives the provisions of any statute, law,
or rule that would limit the effect of this Agreement, and acknowledges and
agrees that this waiver is an essential and material term of this Agreement, and
without such waiver the severance payments to Participant would not have been
paid.

4.       INDEMNIFICATION. Employee warrants and represents that Employee has not
previously assigned or transferred to any person not a party to this Agreement,
any released matter or any part or portion thereof and Employee will defend,
indemnify and hold harmless the Company from and against any claim (including
the payment of attorneys' fees and costs actually incurred whether or not
litigation is commenced) based on or in connection with or arising out of any
such assignment or transfer made, purported or claimed.

5.       GENERAL PROVISIONS.

5.1.     DISCLAIMER OF LIABILITY. While this Agreement resolves all issues
between the parties, as well as any future effects and consequences of any acts
or omissions, it does not constitute an admission by any of the parties of any
liability or wrongdoing. Nothing in this Agreement or any related document will
be construed or admissible in any proceeding as evidence of liability or
wrongdoing by the Company or Employee.

5.2.     ADDITIONAL DOCUMENTATION AND COOPERATION WITH FURTHER PROCEEDINGS. From
time to time and without charge or other consideration, the parties will execute
such additional documentation, take any actions and cooperate in further
proceedings in connection with carrying out and effectuating the intent and
purpose of this Agreement and all transactions and things contemplated by this
Agreement.

5.3.     ASSIGNMENT. This Agreement is a personal contract, and the rights,
interests and obligations of Employee under this Agreement may not be sold,
transferred, assigned, pledged or hypothecated, except that this Agreement may
be assigned by the Company to any corporation or other business entity that
succeeds to all or substantially all of the business of the Company through
merger, consolidation, corporate reorganization or by acquisition of all or
substantially all of the assets of the Company and that assumes the Company's
obligations under this Agreement. The terms and conditions of this Agreement
will inure to the benefit of and be binding upon any successor to the business
of the Company and Employee's heirs and legal representatives.

5.4.     AMENDMENTS; WAIVERS. Amendments, waivers, demands, consents and
approvals under this Agreement must be in writing and designated as such. No
failure or delay in exercising any right will be deemed a waiver of such right.

<PAGE>

5.5.     INTEGRATION. This Agreement is the entire agreement between the parties
pertaining to its subject matter, and supersedes all prior agreements and
understandings of the parties in connection with such subject matter.

5.6.     GOVERNING LAW. This Agreement is to be interpreted in accordance with
the laws of the State of Oregon.

5.7.     HEADINGS. Headings of sections are for convenience only and are not a
part of this Agreement.

5.8.     COUNTERPARTS. This Agreement may be executed in one or more
counterparts, all of which constitute one agreement.

5.9.     SUCCESSORS AND ASSIGNS. This Agreement is binding upon and inures to
the benefit of each party and such party's respective heirs, personal
representatives, successors and assigns. Nothing in this Agreement, express or
implied, is intended to confer any rights or remedies upon any other person.

5.10.    INTERPRETATION. This Agreement is to be construed as a whole and in
accordance with its fair meaning. Any rule of law or any legal decision that
would require interpretation of any claimed ambiguities in this Agreement
against the party that drafted it, has no application and is expressly waived.

5.11.    TIME IS OF THE ESSENCE. Time is of the essence in the performance of
each and every term, provision and covenant in this Agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.

                                         "Company"

                                         CORILLIAN CORPORATION

                                         By ____________________________

                                         Its ___________________________

                                         "Employee"
                                         _______________________________<PAGE>

                                                                    EXHIBIT 10.3

                    SEPARATION AGREEMENT AND GENERAL RELEASE

         This Separation Agreement and General Release ("Agreement") is made and
entered into this 30th day of September, 2003, by and between Steve Sipowicz
("Sipowicz") and Corillian Corporation (the "Company") (collectively referred to
as the "Parties"), and is made and entered into with reference to the following
facts.

                                    RECITALS

         WHEREAS, the Parties have mutually decided that Sipowicz's full-time
employment relationship with the Company will terminate effective November 15,
2003 but that Sipowicz will remain employed with the Company on a temporary,
part-time basis until May 14, 2003; and

         WHEREAS, the Parties each desire to resolve any disputes which exist or
may exist arising out of Sipowicz's full-time employment with the Company and/or
the termination thereof.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the foregoing and the mutual
promises contained below, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties agree that
Sipowicz's separation from the Company shall be on the following terms and
conditions:

         1.       Last Day Of Full-Time Employment. The parties agree that
Sipowicz's last day of full-time employment with the Company will be November
14, 2003 (the "Transition Date"). Sipowicz will continue to perform the duties
of Chief Financial Officer through the Transition Date consistent with his legal
duties to the Company, its shareholders and Board of Directors. From the date of
execution of this Agreement through the Transition Date, Sipowicz's employment
may only be terminated for "Cause" as defined in the Company's Change of Control
Severance Agreement. Any accrued paid time off due to Sipowicz will be paid to
Sipowicz upon the Transition Date. In addition, the Company will return to
Sipowicz any amounts on deposit in Sipowicz's Employee Stock Purchase Plan
account.

         2.       Consideration. On the eighth day after the revocation period
set forth in paragraph 4(c) has passed without revocation of this Agreement by
Sipowicz, the parties agree to be bound as follows:

         (a)      Sipowicz will serve as a temporary, part-time employee of the
Company in consideration of a monthly salary of $2,000 per month, less state and
federal tax withholdings, for a period of six months following the Transition
Date and ending on May 14, 2004 (the "Transition Period"), commencing on the
first pay period following the commencement of the Transition Period. In the
capacity of financial advisor, Sipowicz shall act as a part-time employee and
will advise the Company's chief executive officer on financial and audit issues
confronting the Company and issues related to the recruitment and hiring of the
Company's chief financial officer. During the Transition Period, Sipowicz will
not be expected to provide, on average, more than four hours of service per
month. Further, as a temporary, part-time employee during the Transition Period,
Sipowicz shall not accrue any vacation pay and shall not be eligible to
participate in any employee benefit, group insurance or compensation plan, or
other program maintained by Corillian. However, the Company shall indemnify and
defend Sipowicz in all acts undertaken in the course and scope of the Transition
Period. Sipowicz's temporary, part-time employment may only be terminated during
the Transition Period for "Cause" as defined in the Company's Change of Control
Severance Agreement.

         (b)      Sipowicz will continue to vest in any stock options previously
granted to Sipowicz until the expiration of the Transition Period, and the
vested portion of all such stock options would terminate 90

<PAGE>

days after the end of the Transition Period. Any unvested stock options as of
the end of the Transition Period would terminate.

         (c)      If, prior to November 14, 2003, there is an announcement of a
Change of Control (as defined in Sipowicz's Change of Control Severance
Agreement), issuance of a Letter of Intent that later results in a Change of
Control, tender offer that later results in a Change of Control, or a Change of
Control: (1) Sipowicz will be entitled to receive a lump sum payment equal to
the difference between the severance amount set forth in Section 5(a) and the
Severance Payment that would be due to Sipowicz under the Change of Control
Severance Agreement if Sipowicz's employment was terminated under Section 3(a)
of the Change of Control Severance Agreement, (2) Sipowicz's stock options will
be subject to accelerated vesting as if Sipowicz's employment was terminated in
connection with a Change of Control, and (3) the Transition Period will
automatically terminate, and the Company will be relieved of any obligation to
pay any consulting fees under Section 2(a) or continue any benefits under
Section 5(b). Sipowicz acknowledges that he will not be entitled to any
additional payments or benefits as a result of any Change of Control announced
or consummated after November 14, 2003, and that any provisions in any
agreements providing for any such payments or benefits will be of no force or
effect after November 14, 2003. Sipowicz further agrees that the release set
forth in Section 3 covers any claim that Sipowicz's employment was terminated in
connection with a Change of Control, except as set forth in this Section.

         (d)      During the Transition Period, Sipowicz will have access to an
email account at Corillian and be able to use his laptop, Blackberry device and
cell phone. After the Transition Period, Sipowicz will be entitled to retain his
laptop, Blackberry device and cell phone so long as (i) he submits all such
hardware to Corillian at the end of the Transition Period for erasing of any
Corillian property, and (ii) Corillian cancels any subscription agreements or
licenses with respect to the devices and Sipowicz assumes responsibility for
establishing the service relationships for the devices.

         (e)      Sipowicz acknowledges and agrees that the payments and other
benefits provided for herein are considerations in addition to Sipowicz's wages
to which Sipowicz would not otherwise be entitled. Sipowicz further acknowledges
and agrees that the payments and other consideration described herein are not
required by the Company's policies or procedures or by any contractual
obligation of the Company, and are offered by the Company and accepted by
Sipowicz solely as valid and sufficient consideration for this Agreement.

         3.       General Release of Claims. Sipowicz hereby expressly waives,
releases, acquits and forever discharges the Company and its divisions,
subsidiaries, affiliates, parents, related entities, partners, officers,
directors, shareholders, investors, executives, managers, employees, agents,
attorneys, representatives, successors and assigns (hereinafter collectively
referred to as "Releasees"), from any and all claims, demands, and causes of
action which Sipowicz has or claims to have, whether known or unknown, of
whatever nature, which exist or may exist on Sipowicz's behalf from the
beginning of time up to and including the date of this Agreement. As used in
this paragraph, "claims," "demands," and "causes of action" include, but are not
limited to, claims based on contract, whether express or implied, fraud,
defamation, wrongful termination, estoppel, equity, tort, retaliation,
intellectual property, personal injury, emotional distress, public policy, wage
and hour law, statute or common law, claims related to stock options and/or
fringe benefits, claims for attorneys' fees, vacation pay, debts, accounts,
compensatory damages, punitive or exemplary damages, liquidated damages, and any
and all claims arising under any federal, state, or local statute, law, or
ordinance prohibiting any kind of discrimination, including but not limited to,
the Oregon Revised Statutes, the Oregon Administrative Code, the federal Age
Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964 as
amended, the Americans with Disabilities Act, the Family and Medical Leave Act
or the Employee Retirement Income Security Act. Notwithstanding the foregoing,
the parties agree that this release shall not apply to, and nothing contained in
this Agreement shall relieve Sipowicz or the Company of, their respective
contractual rights or obligations under Sipowicz's existing stock option
agreements, except that any provisions regarding vesting or acceleration of
vesting are hereby modified to reflect Sections 2(b) of this Agreement; provided
further, that the parties agree that this release shall not apply to claims for
indemnification or defense arising out of acts relating to or which occurred in
the course and scope of Sipowicz's employment.

<PAGE>

         4.       NOTICE TO EMPLOYEE. Sipowicz agrees that he waives and
releases any rights that he may have under the Age Discrimination in Employment
Act of 1967 ("ADEA"), and he acknowledges that this waiver and release is
knowing and voluntary. Sipowicz and the Company agree that this waiver and
release does not apply to any rights or claims that may arise under ADEA after
the effective date of this Agreement. Sipowicz acknowledges that the
consideration given for this waiver and release is in addition to anything of
value to which Sipowicz was already entitled. Sipowicz further acknowledges that
he has been advised by this writing that (a) he may consult with an attorney
prior to executing this Agreement; (b) he has at least twenty-one (21) days
within which to consider this Agreement; (c) he has at least seven (7) days
following the execution of this Agreement by the parties to revoke this
Agreement; (d) this Agreement shall not be effective until the revocation period
has expired. To revoke this Agreement, Sipowicz must deliver written
confirmation of revocation to the Company within the seven (7) day revocation
period.

         5.       General Release of Claims Upon Separation; Consideration
Therefor. If, on or upon Sipowicz's Transition Date, Sipowicz executes a General
Release of Claims in a form materially similar to the general release of claims
provided for in this Agreement, Sipowicz will be entitled to receive the
following payments and other consideration:

         (a)      Subject to the terms of this Agreement, Sipowicz will be paid
$100,000, less state and federal tax withholdings, as severance, which will be
payable over a six-month period commencing on the first payroll period following
the Transition Date in accordance with the Company's normal payroll schedule;
and

         (b)      Subject to the terms of this Agreement, the Company will
continue, at its cost, medical/dental/vision insurance for Sipowicz as allowed
under and subject to the conditions of the Consolidated Omnibus Budget
Reconciliation Act of 1985 ("COBRA") for six months from the Transition Date,
after which time Sipowicz may elect to continue, at his cost, medical insurance
for the duration of any time allowed by COBRA.

         6.       Company Property/Proprietary Information. Sipowicz agrees to
continue to abide by the terms of the Company's Proprietary Information
Intellectual Property and Non-Competition Agreement the terms of which are
incorporated herein by reference.

         7.       Non-Admission of Liability. The parties agree that this
Agreement is not and should not be construed as an admission or statement by
either party that it or any other party has acted wrongfully or unlawfully, and
both parties hereto expressly deny any wrongful or unlawful action.

         8.       Ownership of Claims. Sipowicz represents and warrants that he
is the sole and lawful owner of all rights, title and interest in and to all
released matters, claims and demands referred to herein. Sipowicz further
represents and warrants that there has been no assignment or other transfer of
any interest in any such matters, claims or demands which he may have against
the Releasees.

         9.       Governing Law and Dispute Resolution. This Agreement, in all
respects, shall be interpreted, enforced and governed by and under the laws of
the State of Oregon. Any and all actions relating to this Agreement shall be
filed and maintained in the federal and/or state courts located in the State of
Oregon, and the parties consent to the jurisdiction of such courts. In any
action arising out of this Agreement, or involving claims barred by this
Agreement, the prevailing party shall be entitled to recover all costs of suit,
including reasonable attorneys' fees. Any controversy, claim or dispute of any
type arising out of or relating to Employee's employment or the provisions of
this Agreement shall be resolved in accordance with this Section 9 regarding
resolution of disputes, which will be the sole and exclusive procedure for the
resolution of any disputes. This Agreement shall be enforced in accordance with
the Federal Arbitration Act, the enforcement provisions of which are
incorporated by this reference. Nothing in this provision is intended to
restrict Employee from submitting any matter to an administrative agency with
jurisdiction over such matter.

                  (a)      Employer and Employee will make a good faith attempt
to resolve any and all claims and disputes by submitting them to mediation in
Portland, Oregon before resorting to arbitration or

<PAGE>

any other dispute resolution procedure. The mediation of any claim or dispute
must be conducted in accordance with the then-current JAMS procedures for the
resolution of employment disputes by mediation, by a mediator who has had both
training and experience as a mediator of general employment and commercial
matters. If the parties to this Agreement cannot agree on a mediator, then the
mediator will be selected by JAMS in accordance with JAMS' strike list method.
Within thirty (30) days after the selection of the mediator, Employer and
Employee and their respective attorneys will meet with the mediator for one
mediation session of at least four hours. If the claim or dispute cannot be
settled during such mediation session or mutually agreed continuation of the
session, either Employer or Employee may give the mediator and the other party
to the claim or dispute written notice declaring the end of the mediation
process. All discussions connected with this mediation provision will be
confidential and treated as compromise and settlement discussions. Nothing
disclosed in such discussions, which is not independently discoverable, may be
used for any purpose in any later proceeding. The mediator's fees will be paid
in equal portions by Employer and Employee, unless Employer agrees to pay all
such fees.

                  (b)      If any claim or dispute has not been resolved in
accordance with Section 9(a), then the claim or dispute will be determined by
arbitration in accordance with the then-current JAMS employment arbitration
rules and procedures, except as modified herein. The arbitration will be
conducted by a sole neutral arbitrator who has had both training and experience
as an arbitrator of general employment and commercial matters and who is and for
at least ten (10) years has been, a partner, a shareholder, or a member in a law
firm. If Employer and Employee cannot agree on an arbitrator, then the
arbitrator will be selected by JAMS in accordance with Rule 12 of the JAMS
employment arbitration rules and procedures. No person who has served as a
mediator under the mediation provision, however, may be selected as the
arbitrator for the same claim or dispute. Reasonable discovery will be permitted
and the arbitrator may decide any issue as to discovery. The arbitrator may
decide any issue as to whether or as to the extent to which any dispute is
subject to the dispute resolution provisions in Section 9 and the arbitrator may
award any relief permitted by law. The arbitrator must base the arbitration
award on the provisions of Section 9 and applicable law and must render the
award in writing, including an explanation of the reasons for the award.
Judgment upon the award may be entered by any court having jurisdiction of the
matter, and the decision of the arbitrator will be final and binding. The
statute of limitations applicable to the commencement of a lawsuit will apply to
the commencement of an arbitration under Section 9(b). The arbitrator's fees
will be paid in equal portions by Employer and Employee, unless Employer agrees
to pay all such fees.

         10.      Successors and Assigns. The Parties expressly understand and
agree that this Agreement, and all of its terms, shall be binding upon their
representatives, heirs, executors, administrators, successors and assigns.

         11.      Integration. Except as otherwise specifically provided for,
this Agreement constitutes an integrated, written contract, expressing the
entire agreement between the Parties with respect to the subject matter hereof.
In this regard, Sipowicz represents and warrants that he is not relying on any
promises or representations that do not appear written herein. Sipowicz further
understands and agrees that this Agreement can be amended or modified only by a
written agreement, signed by all of the Parties hereto.

         12.      Counterparts. This Agreement may be executed in separate
counterparts and by facsimile, and each such counterpart shall be deemed an
original with the same effect as if all Parties had signed the same document.

         13.      Headings. The headings in each paragraph herein are for
convenience of reference only and shall be of no legal effect in the
interpretation of the terms hereof.

         14.      Severability. If any provision in this Agreement is held to be
invalid, the remainder of this Agreement shall not be affected by such a
determination.

         15.      Voluntary Agreement. SIPOWICZ UNDERSTANDS AND AGREES THAT HE
MAY BE WAIVING SIGNIFICANT LEGAL RIGHTS BY SIGNING THIS AGREEMENT, AND
REPRESENTS THAT HE HAS ENTERED INTO THIS AGREEMENT KNOWINGLY AND

<PAGE>

VOLUNTARILY, WITH A FULL UNDERSTANDING OF AND IN AGREEMENT WITH ALL OF ITS
TERMS.

CAUTION: READ CAREFULLY--THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND
UNKNOWN CLAIMS.

         IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on
the dates provided below.

STEVE SIPOWICZ                              CORILLIAN CORPORATION

___________________________________         By:_________________________________

Dated: ___________, 2003                    Dated: ___________, 2003

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