Document:

Exhibit
10.2

CARREKER CORPORATION

SENIOR EXECUTIVE

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

This Amended and Restated Employment
Agreement (the “Agreement”) is dated as of October       ,
2006, between Carreker Corporation, a Delaware corporation with its principal
executive offices at 4055 Valley View Lane, Suite 1000, Dallas, Texas 75244
(the “Company”), and Lisa Peterson (the “Executive”) who resides at 772
Lexington Avenue, Coppell, Texas 75019

W I T N E S S E T H:

WHEREAS, the Executive and the
Company desire to define the terms of the employment of the Executive with the
Company;

NOW, THEREFORE, for and in
consideration of the premises and the mutual covenants contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, and subject to the terms and conditions hereinafter set
forth, the parties hereto agree as follows:

1.                                       DEFINITIONS.

In addition to the words and terms elsewhere
defined in this Agreement, the following words and terms as used herein shall
have the following meanings, unless the context or use indicates a different
meaning:

“Cause” means (a) any act by the Executive
that is materially adverse to the best interests of the Company and which, if
the subject of a criminal proceeding, could result in a criminal conviction for
a felony or (b) the failure by the Executive to substantially perform her
duties hereunder, which duties are within the control of the Executive (other
than the failure resulting from the Executive’s incapacity due to physical or
mental illness), provided, however, that the Executive shall not be deemed to
be terminated for Cause under this subsection (b) unless and until (1) after
the Executive receives written notice from the Company specifying with reasonable
particularity the actions of Executive which constitute a violation of this
subsection (b) and (2) within a period of 30 days after receipt of such notice
(and during which the violation is within the control of the Executive), Executive
fails to reasonably and prospectively cure such violation.

“Good
Reason” means the occurrence of a Triggering Event (as defined below) and (A)
without her prior concurrence, the
Company materially diminishes the Executive’s
duties, assigns to the Executive duties inconsistent with his/her designated
position, or reduces the Executive’s Base Salary or Targeted Bonus (as defined
below) to an amount less than previously determined or established by the
Chairman or Board of Directors,
(B) the Company’s or any subsidiary’s requiring the Executive to perform
services at any location outside the Dallas, Texas metropolitan area, other
than reasonable business travel consistent with Executive’s current travel
requirements, or (C) any change in
any employee benefit plans or

 

arrangements
in effect on the date hereof in which the Executive participates (including
without limitation any pension and retirement plan, savings and profit sharing
plan, stock ownership or purchase plan, stock option plan, or life, medical or
disability insurance plan), which would adversely affect the Executive’s rights
or benefits thereunder, unless such change occurs pursuant to a program
applicable to all executive officers of the Company and does not result in a
proportionately greater reduction in the rights of or benefits to the Executive
as compared to any other executive officer of the Company.

“Triggering Date” means the date
of a Triggering Event.

“Triggering
Event” means an event of a nature that would be required to be reported by the
Company in response to Item 6(d) of Schedule 14A of Regulation 14A promulgated
under the Exchange Act; provided that, without limitation, such an event shall
be deemed to have occurred if (a) any person or group (as such terms are
used in Section 13(d) and 14(d) of the Exchange Act) is or becomes the
beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing more than 50% of the
combined voting power of the Company’s then outstanding securities, or (b)
there are serving as directors a majority of persons who were elected as
members of the Board of Directors and were not nominated by management or the
Board of Directors of the Company to serve on the Board of Directors of the
Company, or (c) the Company is merged or consolidated with another
corporation and as a result of such merger or consolidation less than 51% of
the outstanding voting securities of the surviving or resulting corporation are
owned in the aggregate by the former shareholders of the Company, excluding for
purposes of such calculation shares of the voting securities of the Company
owned by a party to such merger or consolidation or affiliates (within the
meaning of the Exchange Act) of such party, as the same existed immediately prior
to such merger or consolidation, or (d) a liquidation or dissolution of the
Company, or (e) a sale of substantially all of the assets of the Company.

2.                                       EMPLOYMENT.

The Company hereby employs the Executive and the Executive
hereby accepts employment on the terms and conditions set forth herein.

3.                                       TERM.

The term of this Agreement
shall commence on the date of execution hereof and may be terminated only in
accordance with the provisions of Section 9 of this Agreement.

4.                                       SALARY.

(a)                                  For all services rendered by the Executive under
this Agreement, the Company shall pay the Executive a base salary as
established each fiscal year by the Board of Directors (“Base Salary”), which Base Salary shall at
no time be less than the amount in effect at the date of this Agreement, payable in accordance with the Company’s
customary payroll practices.

(b)                                 The Executive shall be entitled to participate in
any employee bonus plan or arrangement made available by the Board of Directors
in the future to its executive officers, subject to and on a basis consistent
with the terms, conditions and overall administration of such plan or
arrangement, in a maximum potential amount as established by Executive’s offer
letter or other written communication (“Targeted Bonus”)

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(c)                                  The Executive shall be entitled to participate in
or receive benefits under any employee benefit plan or arrangement
(collectively referred to as “Benefits”) made available by the Company in the
future to its executive officers and key management personnel, subject to and
on a basis consistent with the terms, conditions and overall administration of
such plan or arrangement.  Nothing paid
to the Executive under any plan or arrangement presently in effect or made
available in the future shall be deemed to be in lieu of the salary payable to
the Executive pursuant to Subsection 4(a) and 4(b).

5.                                       POSITION.

The
Executive shall be engaged in an executive capacity as a senior officer of the
Company.  The Executive will serve on the
executive/management committee of the Company that sets policy and strategy
for, and directs and manages the implementation and execution of, the business
of, the Company and its affiliates. The
precise services of the Executive may be extended or curtailed from time to
time at the direction of the Board of Directors of the Company provided that the Executive’s
authority, duties and responsibilities shall be at least commensurate in all
material respects with those provided for herein and exercised by Executive at
the date of this Agreement.

6.                                       DUTIES.

During the Employment
Period, and excluding any periods of vacation and sick leave to which the
Executive is entitled, the Executive agrees to devote reasonable attention and
time during normal business hours to the business and affairs of the Company
and, to the extent necessary to discharge the responsibilities assigned to the
Executive hereunder, to use the Executive’s reasonable best efforts to perform
faithfully and efficiently such responsibilities.  During the Employment Period it shall not be
a violation of this Agreement for the Executive to (A) serve on corporate (with
the approval of the Chairman and Board of Directors), civic or charitable
boards or committees, and (B) manage personal investments, so long as such
activities do not significantly interfere with the performance of the Executive’s
responsibilities as an employee of the Company in accordance with this
Agreement or create a conflict of interest.

7.                                       DISABILITY.

If the Executive is unable to
perform his services by reason of illness or incapacity for a continuous period
in excess of six months, unless otherwise required by the provisions of
Sections 10 or 24 of this Agreement, compensation otherwise payable
by the Company shall cease and any future payments to the Executive shall be
subject to the terms and provisions of long-term disability insurance coverage,
if any, maintained by the Company. 
Notwithstanding anything herein to the contrary, the Board of Directors
of the Company may terminate the Executive’s employment with the Company under
this Agreement at any time after the Executive shall be absent from his
employment, for whatever reason, for a continuous period of more than six
months, and, except for any obligations of the Company under Sections 10,
24, and 27 of this Agreement, all other obligations of the Company
hereunder shall cease upon such termination.

8.                                       COMPENSATION AFTER DEATH.

If the
Executive dies during the term of his/her employment, the Company shall pay to
such person as the Executive shall designate in a notice filed with the
Company, or, if no such person shall be designated, to his/her estate as a lump
sum death benefit, all earned and unpaid base salary, prorated bonuses (if any)
for that portion of the year of his/her death during which he worked, other bonuses
(if any) accrued and payable, and accrued benefits, all as of the date of
his/her death, in 

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addition
to any payments the Executive’s spouse, beneficiaries, or estate may be
entitled to receive pursuant to any pension or employee benefit plan or life
insurance policy which may be maintained by the Company, and such payments
shall fully discharge the Company’s obligations hereunder.

9.                                       TERMINATION.

9.1                                 Termination Prior to the Triggering Date.

(a)                                  Upon 60 days’ prior written notice to the Executive
and prior to the Triggering Date, the Company may terminate the Executive’s
employment with the Company under this Agreement with or without Cause.

(b)                                 Prior to the Triggering Date, the Executive may
terminate her employment with the Company under this Agreement by giving 60
days’ prior written notice of her desire to the Board of Directors of the
Company.  The Executive will continue to
receive her Base Salary and Benefits through the date of termination with no
liability on the part of the Company for further payments to the Executive
unless Executive terminates her employment pursuant to Section 9.1(c)(ii), at
which time Sections 9.1(c) and (d) shall apply.

(c)                                  In the event that (I) the Company terminates the Executive’s
employment for any reason other than for Cause and at a time when Executive is
not eligible to receive benefits under the Company’s Long Term Disability Plan;
or (ii) the Executive terminates her employment as a result of any of the
following reasons: (A) without the Executive’s consent the Company materially
diminishes the scope of the Executive’s duties, assigns to the Executive duties
materially inconsistent with his designated position, or reduces the Executive’s
Base Salary or Targeted Bonus to an amount less than previously determined or
established by the Board of Directors,(B) the Company’s requires the Executive to perform
services at any location outside the Dallas, Texas metropolitan area, other
than reasonable business travel or (C) the
Company breaches any of its material obligations under this Agreement and such
breach is not cured within 30 days after written notice thereof by the Executive;
then the Company shall pay the Executive severance payments in an amount equal
to the sum of the (x) Executive’s annual Base Salary (“Annual Base Salary”),
and (y) an amount equal to the maximum Targeted Bonus that could have been payable to
Executive (not to exceed fifty percent (50%) for the fiscal year during which
notice of such termination occurs (“Bonus”) (provided, however, that if the basis for Executive’s termination is the
reduction in her Base Salary, the severance pay shall be based on the Base
Salary in effect prior to such reduction). 
The severance payments shall be made in installments over a period of 12
months.  Notwithstanding the foregoing,
if the Executive terminates her employment pursuant to clause (ii) above, she
shall be entitled to the severance payments provided for in this paragraph only
if she gives written notice to the Company of her termination of employment within
30 days after the occurrence of the event or events specified in clause (ii) on
which she bases his termination and such notice specifies such event or events.

(d)                                 The severance payments provided for in this
Section 9.1 shall be in lieu of all severance payments or benefits to which the
Executive might otherwise be entitled under Company severance policies from
time to time in effect, except for (i) accrued and unpaid Base Salary to the
date of termination, and (ii) any bonus or other compensation due with respect
to periods completed as of the date of termination.  Nothing contained in the foregoing shall be
construed so as to affect the Executive’s rights or the Company’s obligations
relating to agreements or benefits that are unrelated to termination of
employment.

(e)                                  In the event that the Company terminates the Executive’s
employment for Cause, 

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the Company will have no liability on its part for further payments
after the termination date to the Executive.

(f)                                    In voting upon such termination described in Subsections
9.1(a), if the Executive is also a member of the Board of Directors of the
Company, then she may not vote on such termination, and the total number of
members of the Board of Directors will be reduced by one for purposes of voting
on such termination.

9.2                                 Termination After the Triggering Date.

(a)                                  On or after the Triggering Date and irrespective
of whether or not the Executive has given notice of termination of employment
pursuant to Section 9.2(c), the Company may terminate the Executive’s
employment with the Company under this Agreement only for Cause and, subject to
the provisions of Sections 24 and 27 hereof, with no liability on its part for
further payments to the Executive.

(b)                                 On or after the Triggering Date and irrespective
of whether or not the Executive has given notice of termination of employment
pursuant to Section 9.2(c), if the Executive’s employment with the Company is
terminated without Cause or if Executive terminates her employment with the
Company for Good Reason, the Executive will continue to accrue and receive her
base salary and Benefits through the date of termination and will be entitled
to receive the benefits provided for under Section 10 hereof.

(c)                                  On or after the Triggering Date, the Executive
may, in her sole and absolute discretion and without any prior approval by the
Board of Directors of the Company, and upon 60 days prior written notice to the
Company, terminate her employment with the Company under this Agreement for any
reason whatsoever.  If the Executive’s
employment with the Company under this Agreement is terminated pursuant to this
Subsection 9.2(c) and subject in all respects to the provisions of Section
9.2(a) and (b), the Executive will continue to accrue and receive her base
salary and Benefits through the date of termination and will be entitled to
receive the benefits provided for under Section 10 hereof.  No termination of the Executive’s employment
with the Company pursuant to Subsections 9.2(b) or (c) shall in any way
terminate the Company’s obligations under Sections 24 and 27 of this
Agreement.

10.                                 COMPENSATION AFTER CERTAIN TERMINATIONS.

If the Executive’s employment with the Company is
terminated (whether such termination is by the Executive or by the Company) at
any time on or within two years after the Triggering Date for any reason other
than (a) termination by the Company for Cause, (b) the Executive
having reached the age of 65, or (c) the Executive’s death, then, within
five days after the date of such termination, the Company shall pay the Executive
a lump sum amount in cash equal to one and one-half (1.5) times the sum of the (x)
Executive’s Annual Base Salary and (y) Bonus.

11.                                 TRANSFER OF ASSETS TO IRREVOCABLE TRUST.

On the Triggering Date or as soon thereafter as
the Company knows of the occurrence of a Triggering Event, the Company shall
transfer cash to an irrevocable trust in an amount no less than the total
amount which would be payable to the Executive pursuant to Section 10 of this
Agreement as if the Executive’s employment terminated on the Triggering Date.

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12.                                 MITIGATION.

The Executive shall not be
required to mitigate the amount of any payment provided for in this Agreement
by seeking other employment or otherwise, nor shall the amount of any payment
provided for in this Agreement be reduced by any compensation earned by the Executive
as the result of employment by another employer after the date of termination
of Executive’s employment with the Company, or otherwise.

13.                                 NON-COMPETE AND
CONFIDENTIAL INFORMATION. 

13.1  Covenant Not to
Compete. 

(i)
Compliance with the provisions of this Section 13 is an express condition of
the Executive’s right to receive payments, vesting, and benefits hereunder. The
Executive acknowledges and recognizes the confidential information and records
provided by the Company, the benefits provided hereunder, and the professional
training and experience he will receive from and the contacts he will be
provided by the Company, as well as the highly competitive nature of the
Company’s business, and in consideration of all of the above, agrees that
during the period beginning on the effective date of the Executive’s
termination of employment with the Company (the “Date of Termination”) and
ending twelve (12) months thereafter (the “Covered Time”), the Executive will
not directly or indirectly, individually or as an employee, partner, officer,
director, or stockholder (other than as the holder of less than 2% of the
outstanding stock of a publicly-traded corporation) (a) solicit from or perform
for any client of the Company any services which are directly competitive with
any of the services which the Company performs or solicits or (b) sell, license
or lease any products or services to any client of the Company which are
directly competitive with any products or services which the Company sells,
licenses, or leases.  The Company will
furnish to Executive, promptly after termination, a list of clients as if the
date of Executive’s termination for purposes of establishing the definition of “client
of the Company” under this Section 13.1

(ii) The
Executive agrees that during the term of this Agreement (including any
extensions thereof) and for the twenty-four (24) months thereafter, he shall
not (i) directly or indirectly solicit or attempt to solicit any of the
employees, agents, consultants, or representatives of the Company or affiliates
of the Company to leave any of such entities; or (ii) directly or indirectly
solicit or attempt to solicit any of the employees, agents, consultants or
representatives of the Company or affiliates of the Company to become
employees, agents, representatives or consultants of any other person or
entity.

(iii)  The Executive understands that the provisions
of Sections 13(a)(i) and (ii) may limit his ability to earn a livelihood in a
business similar to the business of the Company but nevertheless agrees and
hereby acknowledges that the restrictions and limitations thereof are
reasonable in scope, area, and duration, are reasonably necessary to protect
the goodwill and business interests of the Company, and that the consideration
provided under this Agreement is sufficient to justify the restrictions
contained in such provisions. Accordingly, in consideration thereof and in
light of the Executive’s education, skills and abilities, the Executive agrees
that he will not assert that, and it should not be considered that, such
provisions are either unreasonable in scope, area, or duration, or will prevent
him from earning a living, or otherwise are void, voidable, or unenforceable or
should be voided or held unenforceable.

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13.2          Enforcement. 

(i)  The parties hereto agree and acknowledge that
the covenants and agreements contained herein are reasonable in scope, area,
and duration and necessary to protect the reasonable competitive business
interests of the Company, including, without limitation, the value of the
proprietary information and goodwill of the Company.

(ii)  The Executive agrees that the covenants and
undertakings contained in Section 13 of this Agreement relate to matters which
are of a special, unique and extraordinary character and that the Company
cannot be reasonably or adequately compensated in damages in an action at law
in the event the Executive breaches any of these covenants or undertakings.
Therefore, the Executive agrees that the Company shall be entitled, as a matter
of course, without the need to prove irreparable injury, to an injunction,
restraining order or other equitable relief from any court of competent
jurisdiction, restraining any violation or threatened violation of any of such
terms by the Executive and such other persons as the court shall order. The
Executive agrees to pay costs and legal fees incurred by the Company in
obtaining such injunction, if and when any injunction becomes final and unappealable.

(iii)  Rights and
remedies provided for in this Section 13(b) are cumulative and shall be in
addition to rights and remedies otherwise available to the parties under any
other agreement or applicable law.

(iv)  In the event
that any provision of this Agreement shall to any extent be held invalid,
unreasonable or unenforceable in any circumstances, the parties hereto agree
that the remainder of this Agreement and the application of such provision of
this Agreement to other circumstances shall be valid and enforceable to the
fullest extent permitted by law. If any provision of this Agreement, or any
part thereof, is held to be unenforceable because of the scope or duration of
or the area covered by such provision, the parties hereto agree that the court
or arbitrator making such determination shall reduce the scope, duration and/or
area of such provision (and shall substitute appropriate provisions for any
such unenforceable provisions) in order to make such provision enforceable to
the fullest extent permitted by law, and/or shall delete specific words and
phrases, and such modified provision shall then be enforceable and shall be
enforced. The parties hereto recognize that if, in any judicial proceeding, a
court shall refuse to enforce any of the separate covenants contained in this
Agreement, then that unenforceable covenant contained in this Agreement shall
be deemed eliminated from these provisions to the extent necessary to permit
the remaining separate covenants to be enforced. In the event that any court or
arbitrator determines that the time period or the area, or both, are
unreasonable and that any of the covenants is to that extent unenforceable, the
parties hereto agree that such covenants will apply in the greatest
geographical area that would not render them unenforceable.

(v)  In the event of
the Executive’s breach of this Section 13 and entry of a final and unappealable
judgment enforcing the covenant, in addition to all other rights the Company
may have hereunder or in law or in equity, all payments and benefits hereunder
shall cease; all options, stock, and other securities granted by the Company,
including stock obtained through prior exercise of options, within the 12 month
period prior to Executive’s termination shall be immediately forfeited (whether
or not vested), and the original purchase price, if any, shall be returned to
the Executive; and all profits received through exercise of options or sale of
stock and all previous

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payments and benefits made or provided hereunder within the 12
month period prior to Executive’s termination shall be promptly returned and
repaid to the Company.

13.3                           Confidential Information. The Executive shall hold
in a fiduciary capacity for the benefit of the Company all secret or
confidential information, knowledge or data relating to the Company or any of
its affiliated companies, and their respective businesses, which shall have
been obtained by the Executive during the Executive’s employment by the Company
or any of its affiliated companies and which shall not be or become public
knowledge (other than by acts by the Executive or representatives of the
Executive in violation of this Agreement). After termination of the Executive’s
employment with the Company, the Executive shall not, without the prior written
consent of the Company or as may otherwise be required by law or legal process,
communicate or divulge any such information, knowledge or data to anyone other
than the Company and those designated by it. In no event shall an asserted
violation of the provisions of this Section 13.3 constitute a basis for
deferring or withholding any amounts otherwise payable to the Executive under
this Agreement.

14.                                 ENTIRE AGREEMENT.

This Agreement, embodies the entire agreement and
understanding between the parties hereto with respect to the subject matter
hereof and supersedes all prior negotiations, agreements, and understandings
relating to such subject matter, and may be modified or amended only by an
instrument in writing signed by the parties hereto.

15.                                 LAW TO GOVERN.

This Agreement is executed and delivered in the
State of Texas and shall be governed, construed, and enforced in accordance
with the laws of the State of Texas.

16.                                 ASSIGNMENT.

This Agreement is personal to the
parties, and neither this Agreement nor any interest herein may be assigned
(other than by will or by the laws of descent and distribution) without the
prior written consent of the parties hereto nor be subject to alienation,
anticipation, sale, pledge, encumbrance, execution, levy, or other legal
process of any kind against the Executive or any of her beneficiaries or any
other person.  Notwithstanding the
foregoing, but subject to satisfaction of the Company’s obligation to fund the
irrevocable trust as provided in Section 11, the Company shall be permitted to
assign this Agreement to any corporation or other business entity succeeding to
substantially all of the business and assets of the Company by merger,
consolidation, sale of assets, or otherwise, but only if by written agreement
the Company’s successor assumes in full all of the Company’s obligations under
this Agreement.  From and after
assignment of this Agreement by the Company in accordance with the foregoing
provisions, a Triggering Event shall be deemed to have occurred.  Failure by the Company to obtain such
assumption prior to the effectiveness of such succession shall be a breach of
this Agreement and shall entitle the Executive to immediately receive
compensation under this Agreement from the Company and from the Company’s
successor in the same aggregate amount and on the same terms as he would be
entitled to hereunder if he had voluntarily terminated his employment with the
Company for Good Reason after the Triggering Date, and, for purposes of
implementing the foregoing, the date on which any such succession becomes
effective shall be deemed the Triggering Date.

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17.                                 BINDING AGREEMENT.

Subject to the provisions of
Section 16 of this Agreement, this Agreement shall be binding upon and
shall inure to the benefit of the Company and the Executive and their
respective representatives, successors, and assigns.

18.                                 REFERENCES AND GENDER.

All references to “Sections” and “Subsections”
contained herein are, unless specifically indicated otherwise, references to
sections and subsections of this Agreement. 
Whenever herein the singular number is used, the same shall include the
plural where appropriate, and words of any gender shall include each other
gender where appropriate.

19.                                 WAIVER.

No waiver of any right under this Agreement shall
be deemed effective unless the same is set forth in writing and signed by the
party giving such waiver, and no waiver of any right shall be deemed to be a
waiver of any such right in the future.

20                                    NOTICES.

Except as may be otherwise specifically provided
in this Agreement, all notices required or permitted hereunder shall be in
writing and will be deemed to be delivered when deposited in the United States
mail, postage prepaid, registered or certified mail, return receipt requested,
addressed to the parties at the respective addresses set forth herein, or at
such other addresses as may have theretofore been specified by written notice
delivered in accordance herewith.

21.                                 OTHER INSTRUMENTS.

The parties hereto covenant and agree that they
will execute such other and further instruments and documents as are or may
become necessary or convenient to effectuate and carry out the terms of this
Agreement.

22.                                 HEADINGS.

The headings used in this Agreement are used for
reference purposes only and do not constitute substantive matter to be
considered in construing the terms of this Agreement.

23.                                 INVALID PROVISION.

Any clause, sentence, provision, section,
subsection, or paragraph of this Agreement held by a court of competent
jurisdiction to be invalid, illegal, or ineffective shall not impair,
invalidate, or nullify the remainder of this Agreement, but the effect thereof
shall be confined to the clause, sentence, provision, section, subsection, or
paragraph so held to be invalid, illegal, or ineffective.

24.                                 RIGHTS UNDER PLANS AND PROGRAMS.

Anything in this Agreement to the contrary
notwithstanding, no provision of this Agreement is intended, nor shall it be
construed, to reduce or in any way restrict any benefit to which the Executive
may be entitled under any agreement, plan, arrangement, or program providing
benefits for the Executive.

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25.                                 MULTIPLE COPIES.

This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original and all of which shall
together constitute one and the same instrument.  The terms of this Agreement shall become
binding upon each party from and after the time that he or it executed a copy
hereof.  In like manner, from and after
the time that any party executes a consent or other document, such consent or
other document shall be binding upon such parties.

26.                                 WITHHOLDING OF TAXES.

The Company may withhold from any amounts payable
under this Agreement all federal, state, city, or other taxes as shall be
required pursuant to any law or government regulation or ruling.

27.                                 LEGAL FEES AND EXPENSES.

The Company shall pay and be responsible for all
legal fees and expenses which the Executive may incur as a result of the
Company’s failure to perform under this Agreement or as a result of the Company
or any successor contesting the validity or enforceability of this Agreement.

28.                                 SET OFF OR COUNTERCLAIM.

Except with respect to any claim against or debt
or other obligation of the Executive properly recorded on the books and records
of the Company prior to the Triggering Date, there shall be no right of set off
or counterclaim against, or delay in, any payment by the Company to the Executive
or her beneficiaries provided for in this Agreement in respect of any claim
against or debt or other obligation of the Executive, whether arising hereunder
or otherwise.

IN WITNESS WHEREOF, the parties
have executed this Agreement on the day and year first above written.

	
   

  	
  

  	
  CARREKER
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  J. D. Carreker

  	
   

  
	
   

  	
   

  	
  Chairman of the
  Board

  	
   

  
	
   

  	
   

  	
  and Chief Executive
  Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Lisa Peterson

  	
   

  

 

 10Exhibit 10.1

Summary of Oral
Agreement with director Jess Ravich regarding Bonus Award

In connection with the
closing of the termination of the Finders Agreement between Cherokee Inc. (the “Company”)
and Mossimo Inc. dated March 2000 (the “Finders Agreement”), the Company
awarded Jess Ravich, a director of the Company, a bonus in the amount of
$50,000 for his extraordinary board services. 
Mr. Ravich, in his capacity as a director of the Company, closely
oversaw management’s activities in connection with the negotiation and
consummation of the termination of the Finders Agreement and the previously
disclosed Termination and Settlement Agreement between the Company and Iconix
Brand Group, Inc. (“Iconix”) entered into as of April 27, 2006 (the “Termination
Agreement”) in connection with Iconix’s acquisition of Mossimo.  The Board determined that given the size and
the complexity of these transactions, close board oversight was
appropriate.  Mr. Ravich expended
significant additional time performing such oversight and, therefore, the
Company’s Board of Directors determined that additional compensation was
appropriate.  The payment was approved by
the disinterested members of the Company’s Board of Directors.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]