Document:

Exhibit 10.2
   
 

AMENDED
AND RESTATED

STOCK OPTION AGREEMENT

UNDER

ACI
WORLDWIDE, INC.

1999
STOCK OPTION PLAN

as
amended by the Stockholders on February 22, 2000,

February
20, 2001 and February 19, 2002,

and
amended by the Board of Directors

on May 5, 2000 and March 7, 2006

US MASTER

 

   
 

TABLE OF
CONTENTS

	
  

  	
   

  	
  

  	
   

  	
  Page

  
	
  1.

  	
   

  	
  GRANT OF NON-QUALIFIED STOCK OPTION

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  TERMS OF PLAN

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  EXERCISE PRICE

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  EXERCISE
  OF OPTION

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.1

  	
   

  	
  Time of Exercise of Option

  	
   

  	
  2

  
	
   

  	
   

  	
  4.2

  	
   

  	
  Acceleration of Option

  	
   

  	
  3

  
	
   

  	
   

  	
  4.3

  	
   

  	
  Termination
  of Option

  	
   

  	
  5

  
	
   

  	
   

  	
  4.4

  	
   

  	
  Effect of Optionee’s Disability or Death

  	
   

  	
  5

  
	
   

  	
   

  	
  4.5

  	
   

  	
  Limitations on Exercise of Option

  	
   

  	
  6

  
	
   

  	
   

  	
  4.6

  	
   

  	
  Method of Exercise of Option

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Cash Exercise

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
  Same-Day-Sale Exercise

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
  Sell-to-Cover Exercise

  	
   

  	
  7

  
	
   

  	
   

  	
  4.7

  	
   

  	
  Parachute Limitations

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  TRANSFERABILITY OF OPTIONS

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  RIGHTS
  AS STOCKHOLDER

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
   

  	
  WITHHOLDING
  OF TAXES

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
   

  	
  DISCLAIMER
  OF RIGHTS

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
   

  	
  INTERPRETATION OF THIS OPTION AGREEMENT

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
   

  	
  GOVERNING LAW

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
   

  	
  BINDING EFFECT

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
   

  	
  NOTICE

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
   

  	
  ENTIRE
  AGREEMENT

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SIGNATURE PAGE (TO BE
  COMPLETED AND RETURNED)

  	
   

  	
   

  

 

 

AMENDED
AND RESTATED

STOCK OPTION AGREEMENT

ACI
WORLDWIDE, INC.

1999
STOCK OPTION PLAN

as
amended by the Stockholders on February 22, 2000,

February
20, 2001 and February 19, 2002

and
amended by the Board of Directors

on May 5, 2000 and March 7, 2006

This Stock Option Agreement (the “Option Agreement”)
is made as of
                  
by and between ACI Worldwide, Inc., a Delaware corporation (the “Corporation”),
and
                   ,
an employee of the Corporation or its subsidiaries (the “Optionee”).

WHEREAS, the Board of Directors of the Corporation has
duly adopted and approved the 1999 Stock Option Plan (the “Plan”), which Plan
authorizes the Corporation to grant to eligible individuals options for the
purchase of shares of the Corporation’s Common Stock (the “Stock”); and

WHEREAS, the Corporation has determined that it is
desirable and in its best interests to grant the Optionee, pursuant to the
Plan, an option to purchase a certain number of shares of Stock, in order to
provide the Optionee with an incentive to advance the interests of the
Corporation, all according to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual
promises and covenants contained herein, the parties hereto do hereby agree as
follows:

1.                GRANT OF NON-QUALIFIED STOCK OPTION

Subject to the terms of the Plan, the Corporation
hereby grants to the Optionee the right and option (the “Option”) to purchase
from the Corporation, on the terms and subject to the conditions set forth in the
Plan and in this Agreement,
             
shares of  Common Stock.  The Date of Grant of this Option is
           .  This Option shall not
constitute an incentive stock option within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”).

2.                TERMS OF PLAN

The Option granted pursuant to this Option Agreement
is granted subject to the terms and conditions set forth in the Plan, a copy of
which is attached to this Option Agreement. 
All terms and conditions of the Plan, as may be amended from time to
time, are hereby incorporated into this Option Agreement by reference and shall
be deemed to be part of this Option Agreement, without regard to whether such
terms and conditions (including, for example, provisions relating to certain
changes in 

capitalization of the Corporation) are not otherwise
set forth in this Option Agreement.  In
the event that there is any inconsistency between the provisions of this Option
Agreement and of the Plan, the provisions of the Plan shall govern.

3.                EXERCISE PRICE

The Exercise Price for the shares of Stock subject to
the Option granted by this Option Agreement is
$             
per share.

4.                EXERCISE OF OPTION

Except as otherwise
provided herein, and subject to the provisions of the Plan (including restrictions
on the transferability of the Option and special provisions relating to
exercise or termination of the Option following the Optionee’s termination of
employment, disability, death or retirement or certain changes in
capitalization of the Corporation), the Option granted pursuant to this Option
Agreement shall be subject to exercise as follows:

4.1              Time of Exercise of Option

The Optionee may exercise the Option (subject to the
limitations on exercise set forth in this Agreement and in the Plan), in
installments as follows:

(i)                                               Subject
to Section 4.2, no Option may be exercised during the first year from the
Original Date of Grant;

(ii)                                            Subject
to Section 4.2, after one year from the Original Date of Grant, the Option
shall be exercisable in respect of 33 and 1/3 percent of the number of shares
specified in Section 1 above; and

(iii)                                         Subject
to Section 4.2, after the expiration of each of the second, and third years
from the Original Date of Grant, the Option shall be exercisable in respect of
an additional 33 and 1/3 percent of such shares specified in Section 1 above.

The
foregoing installments, to the extent not exercised, shall accumulate and be
exercisable, in whole or in part, at any time and from time to time, after
becoming exercisable and prior to the termination of the Option; provided,
that no single exercise of the Option shall be for less than 100 shares, unless
at the time of the exercise, the maximum number of shares available for
purchase under this Option is less than 100 shares.  In no event shall the Option be exercised for
a fractional share.

4.2              Acceleration of Option

Notwithstanding any other
provision of this Agreement to the contrary, the Option granted hereby shall
become immediately exercisable upon the occurrence of a Change in Control (as
hereinafter defined) of the Corporation if Optionee is an employee of the
Corporation or any of its subsidiaries on the date of the consummation of such
Change in Control.

For
purposes of this Section 4.2, a “Change in Control” means the occurrence of any
of the following events:

(a)           Any individual, entity or group
(within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)) (a “Person”) becomes the
beneficial owner (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of 20% or more of either (i) the then-outstanding shares of
common stock of the Company (the “Outstanding Company Common Stock”) or (ii)
the combined voting power of the then-outstanding voting securities of the
Company entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”); provided, however, that, for purposes of this
Section 9(a), the following acquisitions shall not constitute a Change in
Control:  (A) any acquisition directly
from the Company, (B) any acquisition by the Company, (C) any acquisition by
any employee benefit plan (or related trust) sponsored or maintained by the
Company or any Affiliated Company or (D) any acquisition by any corporation
pursuant to a transaction that complies with Sections 4.2(c)(A), 4.2(c)(B) and
4.2(c)(C);

(b)             Any time at which individuals who,
as of the date hereof, constitute the Board (the “Incumbent Board”) cease for
any reason to constitute at least a majority of the Board; provided, however,
that any individual becoming a director subsequent to the date hereof whose
election, or nomination for election by the Company’s stockholders, was
approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of
the Incumbent Board, but excluding, for this purpose, any such individual whose
initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other
actual or threatened solicitation of proxies or consents by or on behalf of a
Person other than the Board;

(c)          Consummation
of a reorganization, merger, statutory share exchange or consolidation or
similar transaction involving the Company or any of its subsidiaries, a sale or
other disposition of all or substantially all of the assets of the Company, or
the acquisition of assets or stock of another entity by the Company or any of
its subsidiaries (each, a “Business Combination”), in each case unless,
following such Business Combination, (A) all or substantially all of the
individuals and entities that were the beneficial owners of the Outstanding Company
Common Stock and the Outstanding Company Voting Securities immediately prior to
such Business Combination beneficially own, directly or indirectly, more than
50% of the then-outstanding shares of common stock (or, for a non-corporate
entity, equivalent securities) and the combined voting power of the
then-outstanding voting securities entitled to vote generally in the election
of directors (or, for a non-corporate entity, equivalent governing body), as
the case may be, of the entity resulting from such Business Combination
(including, without limitation, an entity that, as a result of such
transaction, owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially
the same proportions as their ownership immediately prior to such Business Combination
of the Outstanding Company Common Stock and the Outstanding Company Voting Securities,
as the case may be, (B) no Person (excluding 

any corporation resulting from such Business Combination or any employee
benefit plan (or related trust) of the Company or such corporation resulting
from such Business Combination) beneficially owns, directly or indirectly, 20%
or more of, respectively, the then-outstanding shares of common stock of the
corporation resulting from such Business Combination or the combined voting
power of the then-outstanding voting securities of such corporation, except to
the extent that such ownership existed prior to the Business Combination, and
(C) at least a majority of the members of the board of directors (or, for a
non-corporate entity, equivalent governing body) of the entity resulting from
such Business Combination were members of the Incumbent Board at the time of
the execution of the initial agreement or of the action of the Board providing
for such Business Combination; or

(d)          Approval
by the stockholders of the Company of a complete liquidation or dissolution of
the Company.

4.3              Termination of Option

The Option shall terminate upon the earlier of the
expiration of a period of (i) ten years from the Original Date of Grant, or
(ii) one month from the date of the Optionee’s termination of employment with
the Corporation or a subsidiary; provided, however, that if such termination of
employment falls within the scope of one of the provisions of the Plan
providing for an extended exercise period in excess of one month, the Option
shall terminate upon the expiration of the extended period, as specified in
such provision, after the Optionee’s termination of employment with the
Corporation or a subsidiary within which the Option is exercisable.

4.4              Effect of Optionee’s Disability or Death

If the Optionee ceases to be an Employee of the
Corporation or a Subsidiary of the Corporation by reason of Disability, the
unexercised portion of any Option held by such Optionee at that time will
become immediately vested and will be exercisable for the shorter of one year
from the date on which the Optionee ceased to be so employed or the remaining
Option term.  If the Optionee does not
exercise the Option within the time specified, such Option shall
terminate.  The Corporation shall have
the authority to determine the date an Optionee ceases to be an Employee by
reason of Disability.

If
the Optionee dies while employed by the Corporation or a Subsidiary of the
Corporation (or dies within a period of one month after ceasing to be an
Employee for any reason other than Disability or within a period of one year
after ceasing to be an Employee by reason of Disability), the unexercised
portion of any Option held by such Optionee at the time of death will become
immediately vested and will be exercisable for the shorter of one year from the
date of such Optionee’s death, or the remaining Option term.  Such Option may be exercised by the executor
or administrator of the Optionee’s estate or by any person or persons who shall
have acquired the Option directly from the Optionee by bequest or
inheritance.  If the Option is not
exercised within the time specified, such Option shall terminate.

4.5              Limitations on Exercise of Option

Notwithstanding the foregoing Subsections, in no event
may the Option be exercised, in whole or in part, after ten years following the
Original Date of Grant, or after the occurrence of an event which results in
termination of the Option under the Plan.

4.6              Method of Exercise of Option

Cash Exercise (to exercise and retain the Shares):  Subject to the terms and conditions of this
Option Agreement, the Option may be exercised by delivering written notice of
exercise to the Corporation, at its principal office, addressed to the
attention of Stock Option Administration, or to the agent/broker designated by
the Corporation, which notice shall specify the number of shares for which the
Option is being exercised, and shall be accompanied by payment in full of the
Exercise Price of the shares for which the Option is being exercised plus the
full amount of all applicable withholding taxes due on the Option
exercise.  Payment of the Exercise Price
for the shares of Stock purchased pursuant to the exercise of the Option shall
be made either in cash or by certified check payable to the order of the
Corporation.  If the person exercising
the Option is not the Optionee, such person shall also deliver with the notice
of exercise appropriate proof of his or her right to exercise the Option, as
the Corporation may require in its sole discretion.  Promptly after exercise of the Option as
provided for above, the Corporation shall deliver to the person exercising the
Option a certificate or certificates for the shares of Stock being purchased.

Same-Day-Sale Exercise (to exercise and immediately
sell all the Shares): 
Subject to the terms and conditions of this Option Agreement, the Option
may be exercised by delivering written notice of exercise to the agent/broker
designated by the Corporation, which notice shall specify the number of shares
for which the Option is being exercised and irrevocable instructions to
promptly (1) sell all of the shares of Stock to be issued upon exercise and (2)
remit to the Corporation the portion of the sale proceeds sufficient to pay the
Exercise Price for the shares of Stock purchased pursuant to the exercise of
the Option and all applicable taxes due on the Option exercise.  The agent/broker shall request issuance of
the shares and immediately and concurrently sell the shares on the Optionee’s
behalf.  Payment of the Exercise Price
for the shares of Stock purchased pursuant to the exercise of the Option, any
brokerage fees, transfer fees, and all applicable taxes due on the Option
exercise, shall be deducted from the proceeds of the sale of the shares.  If the person exercising the Option is not
the Optionee, such person shall also deliver with the notice of exercise
appropriate proof of his or her right to exercise the Option, as the
Corporation may require in its sole discretion. 
Promptly after exercise of the Option as provided for above, the
agent/broker shall deliver to the person exercising the Option the net proceeds
from the sale of the shares of Stock being exercised and sold.

Sell-to-Cover Exercise (to exercise and immediately
sell a portion of the Shares):  Subject to the terms and conditions of this
Option Agreement, the Option may be exercised by delivering written notice of
exercise to the agent/broker designated by the Corporation, which notice shall
specify the number of shares for which the Option is being exercised and
irrevocable instructions to promptly (1) sell the portion (which must 

be a whole number) of the shares of Stock to be issued
upon exercise sufficient to generate proceeds to pay the Exercise Price for the
shares of Stock purchased pursuant to the exercise of the Option, any brokerage
or transfer fees, and all applicable taxes due on the Option exercise
(collectively the “Exercise Costs”) and (2) remit to the Corporation a
sufficient portion of the sale proceeds to pay the Exercise Price for the
shares of Stock purchased pursuant to the exercise of the Option and all
applicable taxes due on the Option exercise. 
The agent/broker shall request issuance of the shares and immediately
and concurrently sell on the Optionee’s behalf only such number of the Shares
as is required to generate proceeds sufficient to pay the Exercise Costs.  Promptly after exercise of the Option as
provided for above, the Corporation shall deliver to the person exercising the
Option a certificate for the shares of Stock issued upon exercise which are not
sold to pay the Exercise Costs.  Promptly
after exercise of the Option as provided for above, the agent/broker shall
deliver to the person exercising the Option any net proceeds from the sale of
the Shares in excess of the Exercise Costs. 
If the person exercising the Option is not the Optionee, such person
shall also deliver with the notice of exercise appropriate proof of his or her
right to exercise the Option, as the Corporation may require in its sole
discretion.

The Option shall not be exercisable if and to the
extent the Corporation determines such exercise or method of exercise would
violate applicable securities laws, the rules and regulations of any securities
exchange or quotation system on which the Stock is listed, or the Company’s
policies and procedures.  An attempt to
exercise the Option granted hereunder other than as set forth above shall be
invalid and of no force and effect.

4.7              Parachute Limitations

Notwithstanding any other provision of this Option
Agreement or the Plan or any other agreement, contract or understanding
heretofore or hereafter entered into by the Optionee with the Corporation (or
any subsidiary or affiliate thereof), except an agreement, contract or
understanding hereafter entered into that expressly modifies or excludes
application of this Subsection (the “Other Agreements”), and notwithstanding
any formal or informal plan or other arrangements heretofore or hereafter
adopted by the Corporation (or any such subsidiary or affiliate) for the direct
or indirect compensation of the Optionee (including groups or classes of
participants or beneficiaries of which the Optionee is a member), whether or
not such compensation is deferred, is in cash, or is in the form of a benefit
to or for the Optionee (an “Other Benefit Plan”), the Optionee shall not have
any right to exercise an Option or receive any payment or other benefit under
this Option Agreement, any Other Agreement, or any Other Benefit Plan if such
right to exercise, payment or benefit, taking into account all other rights,
payments or benefits to or for the Optionee under this Option Agreement, all
Other Agreements and all Other Benefit Plans, would cause any right, payment or
benefit to the Optionee under this Option Agreement to be considered a “parachute
payment” within the meaning of Section 280G(b)(2) of the Code as then in effect
(a “Parachute Payment”).  In the event
that the receipt of any such right to exercise or any other payment or benefit
under this Option Agreement, any Other Agreement or any Other Benefit Plan
would cause the Optionee to be considered to have received a Parachute Payment
under this Agreement, then the Optionee shall have the right, in the Optionee’s
sole discretion, to designate those rights, payments or 

benefits under this Option Agreement, any Other
Agreements, and/or any Other Benefit Plans, which should be reduced or
eliminated so as to avoid having the right, payment or benefit to the Optionee
under this Option Agreement be deemed to be a Parachute Payment.

5.                TRANSFERABILITY OF OPTIONS

During the lifetime of an Optionee, only such Optionee
or any permitted transferee (or, in the event of legal incapacity or
incompetency, the Optionee’s guardian or legal representative) may exercise the
Option.  No Option shall be assignable or
transferable by the Optionee to whom it is granted, other than by will or the
laws of descent and distribution other than by will or the laws of descent and
distribution or, except with respect to an Incentive Stock Option, pursuant to
a domestic relations order (within the meaning of Rule 16a-12 of the Securities
Exchange Act of 1934, as amended).

6.                RIGHTS AS STOCKHOLDER

Neither the Optionee nor any executor, administrator,
distributee or legatee of the Optionee’s estate shall be, or have any of the
rights or privileges of, a stockholder of the Corporation in respect of any
shares of Stock issuable hereunder unless and until such shares have been fully
paid and certificates representing such shares have been endorsed, transferred
and delivered, and the name of the Optionee (or of such personal
representative, administrator, distributee or legatee of the Optionee’s estate)
has been entered as the stockholder or record on the books of the Corporation.

7.                WITHHOLDING OF TAXES

The parties hereto recognize that the Corporation or a
subsidiary may be obligated to withhold federal, state and/or local income
taxes and Social Security taxes to the extent that the Optionee realizes ordinary
income in connection with the exercise of the Option or in connection with a
disposition of any shares of Stock acquired by exercise of the Option. The
Optionee agrees that the Corporation or a subsidiary may withhold amounts
needed to cover such taxes from payments otherwise due and owing to the
Optionee, and also agrees that upon demand the Optionee will promptly pay to
the Corporation or a subsidiary having such obligation any additional amounts
as may be necessary to satisfy such withholding tax obligation.  Such payment shall be made in cash or by
check payable to the order of the Corporation or a subsidiary.

8.                DISCLAIMER OF RIGHTS

No provision in this Option Agreement shall be
construed to confer upon the Optionee the right to be employed by the Corporation
or any subsidiary, or to interfere in any way with the right and authority of
the Corporation or any subsidiary either to increase or decrease the
compensation of the Optionee at any time, or to terminate any employment or
other relationship between the Optionee and the Corporation or any subsidiary.

9.                INTERPRETATION OF THIS OPTION AGREEMENT

All decisions and interpretations made by the Board or
the Compensation Committee thereof with regard to any question arising under
the Plan or this Option Agreement shall be binding and conclusive on the
Corporation and the Optionee and any other person entitled to exercise the
Option as provided for herein.

10.              GOVERNING LAW

This Option Agreement shall be governed by the laws of
the State of Delaware (but not including the choice of law rules thereof).

11.              BINDING EFFECT

Subject to all restrictions provided for in this
Option Agreement, the Plan, and by applicable law relating to assignment and
transfer of this Option Agreement and the option provided for herein, this
Option Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, executors, administrators, successors and
assigns.

12.              NOTICE

Any notice hereunder by
the Optionee to the Corporation shall be in writing and shall be deemed duly
given if mailed or delivered to the Corporation at its principal office,
addressed to the attention of Stock Plan Administration or if so mailed or
delivered to such other address as the Corporation may hereafter designate by
notice to the Optionee.  Any notice
hereunder by the Corporation to the Optionee shall be in writing and shall be
deemed duly given if mailed or delivered to the Optionee at the address
specified below by the Optionee for such purpose, or if so mailed or delivered
to such other address as the Optionee may hereafter designate by written notice
given to the Corporation.

13.              ENTIRE AGREEMENT

This Option Agreement and the Plan together constitute
the entire agreement and supersede all prior understandings and agreements,
written or oral (including, without limitation, the Stock Option Agreement
between the Corporation and Optionee dated May 13, 2002), of the parties hereto
with respect to the subject matter hereof. 
Except for amendments to the Plan incorporated into this Option
Agreement by reference pursuant to Section 2 above, neither this Option
Agreement nor any term hereof may be amended, waived, discharged or terminated
except by a written instrument signed by the Corporation and the Optionee; provided,
however, that the Corporation unilaterally may waive any provision hereof
in writing to the extent that such waiver does not adversely affect the
interests of the Optionee hereunder, but no such waiver shall operate as or be
construed to be a subsequent waiver of the same provision or a waiver of any
other provision hereof.

SIGNATURE PAGE

IN WITNESS WHEREOF, the
parties hereto have duly executed this Amended and Restated Option Agreement,
or caused this Amended and Restated Option Agreement to be duly executed on
their behalf, as of the day and year first above written.

	
  ACI Worldwide, Inc.:

  	
   

  	
  Optionee:

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
						

 

 

 

	
  

  	
   

  	
  ADDRESS FOR NOTICE TO OPTIONEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Number                Street                
  Apt.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  City                State
                  Zip
  Code

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SS#                                          Hire
  Date

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  DESIGNATED BENEFICIARY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Please Print Last Name, First Name MI

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Beneficiary’s Street Address

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  City                      State
                        Zip
  Code

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Beneficiary’s Social Security Number

  

 

I
understand that in the event of my death, the above named beneficiary will have
control of any unexercised options remaining in my account at that time.  If no beneficiary is designated or if the
named beneficiary does not survive me, the options will become part of my
estate.  This beneficiary designation does
NOT apply to stock acquired by the exercise of options prior to my death.

	
  

  	
   

  	
   

  
	
   

  	
   

  	
  SIGNATURE                                 DATE

  

 

	
   

  After completing this page,
  please make a copy for your records and return it to Stock Plan
  Administration, ACI Worldwide, Inc., 224 South 108 Avenue, Omaha, NE 68154

   

  

 

1999
Stock Option Plan — US Plan

__________ Options 
                      $_______Share
Exercise Price                         ______________Exhibit 10.3

ACI WORLDWIDE, INC.

Nonqualified
Stock Option Agreement - Non-Employee Director

2005 Equity and Performance
Incentive Plan

(Amended
by the Stockholders July 24, 2007)

This Stock Option
Agreement (the “Option Agreement”) is made as of
                
by and between ACI Worldwide, Inc., a Delaware corporation (the “Corporation”),
and [                 ], a Non-Employee Director of the Corporation or its
Subsidiaries (the “Optionee”).

WHEREAS, the Board
of Directors of the Corporation has duly adopted, and the stockholders of the
Corporation have approved, the 2005 Equity and Performance Plan, as amended
(the “Plan”), which Plan authorizes the Corporation to grant to eligible
individuals options for the purchase of shares of the Corporation’s Common
Stock (the “Stock”); and

WHEREAS, the
Corporation has determined that it is desirable and in the best interests of
the Corporation and its stockholders to grant the Optionee an option to
purchase a certain number of shares of Stock, in order to provide the Optionee
with an incentive to advance the interests of the Corporation, all according to
the terms and conditions set forth herein.

NOW, THEREFORE, in
consideration of the mutual promises and covenants contained herein, the
parties hereto do hereby agree as follows:

1.              GRANT
OF NON-QUALIFIED STOCK OPTION

Subject to the terms of the Plan, the Corporation
hereby grants to the Optionee the right and option (the “Option”) to purchase
from the Corporation, on the terms and subject to the conditions set forth in
this Option Agreement, [              ] shares of Stock (the “Option Shares”).  The Date of Grant of this Option is
               .  This Option shall not
constitute an incentive stock option within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”).

2.              TERMS
OF PLAN

The Option granted
pursuant to this Option Agreement is granted subject to the terms and
conditions set forth in the Plan, a copy of which has been delivered to the
Optionee.  All terms and conditions of
the Plan, as may be amended from time to time, are hereby incorporated into
this Option Agreement by reference and shall be deemed to be a part of this
Option Agreement, without regard to whether such terms and conditions
(including, for example, provisions relating to certain changes in
capitalization of the Corporation) are otherwise set forth in this Option
Agreement.  In the event that there is
any inconsistency between the provisions of this Option Agreement and of the
Plan, the provisions of the Plan shall govern. 
Capitalized terms used herein that are not otherwise defined shall have
the meaning ascribed to them in the Plan.

 1
 

3.              EXERCISE
PRICE

The exercise price for the shares of Stock subject to
the Option granted by this Option Agreement is $           
per share (the “Exercise Price”).

4.              EXERCISE
OF OPTION

Subject to the
provisions of the Plan and subject to the earlier expiration or termination of
this Option in accordance with its terms, the Option granted pursuant to this
Option Agreement shall be exercisable only as follows:

4.1.                            Time
of Exercise of Option

4.1.1.                     The
Option shall become exercisable with respect to 100% of the Option Shares on
the earlier to occur of (i) the date which is one year following the Date of
Grant and (ii) the day immediately prior to the date of the next annual meeting
of the stockholders of the Corporation occurring following the Date of Grant.

4.1.2.                     Notwithstanding
Section 4.1.1 above, in accordance with the provisions of the Plan, the Option
granted under this Option Agreement shall become immediately exercisable upon
the occurrence of a Change in Control (as defined in Section 9 below) if the
Optionee holding such Option is a Non-Employee Director of the Corporation or a
Subsidiary of the Corporation on the date of the consummation of such Change in
Control.

4.1.3                        Notwithstanding Section 4.1.1 above, in accordance
with the provisions of the Plan, if the Optionee ceases to be a Non-Employee
Director of the Corporation or a Subsidiary of the Corporation by reason of
Disability (as defined in Section 4.3.2 below), the unexercised portion of any
Option held by such Optionee at that time will become immediately vested and
will be exercisable until terminated in accordance with Section 4.3 below.

4.1.4                        Notwithstanding
Section 4.1.1 above, in accordance with the provisions of the Plan, if the
Optionee dies while serving as a Non-Employee Director of the Corporation or a
Subsidiary of the Corporation (or dies within a period of one month after
termination of his service as a Non-Employee Director for any reason other than
Disability or within a period of one year after termination of his service as
Non-Employee Director by reason of Disability), the unexercised portion of any
Option held by such Optionee at the time of death will become immediately
vested and will be exercisable until terminated in accordance with Section 4.3
below.

 2
 

4.2.                            Limitations

The portion of the
Option that has not become exercisable as of the date of the Optionee’s
termination of service as a Non-Employee Director of the Corporation or any of
its Subsidiaries for any reason shall automatically terminate as of the date of
the Optionee’s termination of service as a Non-Employee Director of the
Corporation or its Subsidiaries and shall not become exercisable after such
termination. To the extent the Option is exercisable, it may be exercised, in
whole or in part; provided, that no single exercise of the Option shall
be for less than 100 shares, unless at the time of the exercise, the maximum
number of shares available for purchase under this Option is less than 100
shares.  In no event shall the Option be
exercised for a fractional share.

4.3.                            Termination
of Option

This Agreement and the Option granted hereby shall
terminate automatically and without further notice on the earliest of the
following dates:

4.3.1.                     90 calendar days from the date of the Optionee’s termination of
service as a Non-Employee Director of the Corporation or a Subsidiary of the
Corporation for any reason other than death or Disability (as defined below);

4.3.2.                     one year after the Optionee’s
permanent and total disability as defined in Section 22(e)(3) of the Code (“Disability”);

4.3.3.                     one year after the Optionee’s
death, if such death occurs (i) while the Optionee is serving as a Non-Employee
Director of the Corporation or a Subsidiary of the Corporation, (ii) within the
90-day  period following the Optionee’s
termination of service as a Non-Employee Director for any reason other than
Disability; or (iii) within the one-year period following the Optionee’s
termination of service as a Non-Employee Director by reason of the Optionee’s
Disability; or

4.3.4.                     ten years from the Date of Grant.

The Corporation shall have the
authority to determine the date an Optionee ceases to serve as a Non-Employee
Director by reason of Disability.  In the
case of death, the Option may be exercised by the executor or administrator of
the Optionee’s estate or by any person or persons who shall have acquired the
Option directly from the Optionee by bequest or inheritance.

4.4.                            Limitations
on Exercise of Option

In no event may
the Option be exercised, in whole or in part, after the occurrence of an event
which results in termination of the Option, as set forth in Section 4.3
above.  The Option shall not be exercisable
if and to the extent the Corporation determines such exercise or method of
exercise would violate applicable securities laws, the rules and regulations of
any securities exchange or quotation system on which the Stock is listed, or
the Corporation’s policies and procedures.

 3
 

4.5.                            Method
of Exercise of Option

4.5.1.                     To the extent then exercisable,
the Option may be exercised in whole or in part by written notice to the
Corporation stating the number of shares for which the Option is being
exercised and the intended manner of payment. 
The date of such notice shall be the exercise date.  Payment equal to the aggregate Exercise Price
of the shares shall be payable (i) in cash in the form of currency or check or
other cash equivalent acceptable to the Corporation, (ii) by actual or
constructive transfer to the Corporation of nonforfeitable, outstanding shares
of Stock that have been owned by the Optionee for at least six months prior to
the date of exercise, (iii) by any combination of the foregoing methods of
payment, or (iv) in accordance with such other method or manner as set forth
below.

(A)          Cash Exercise (to exercise and
retain the Option Shares):  Subject
to the terms and conditions of this Option Agreement and the Plan, the Option
may be exercised by delivering written notice of exercise to the Corporation,
at its principal office, addressed to the attention of Stock Plan
Administration, or to the agent/broker designated by the Corporation, which
notice shall specify the number of shares for which the Option is being
exercised, and shall be accompanied by payment in full of the Exercise Price of
the shares for which the Option is being exercised plus the full amount of all
applicable withholding taxes due on the Option exercise.  Payment of the Exercise Price for the shares
of Stock purchased pursuant to the exercise of the Option shall be made either
in cash or by certified check payable to the order of the Corporation.  If the person exercising the Option is not
the Optionee, such person shall also deliver with the notice of exercise
appropriate proof of his or her right to exercise the Option, as the
Corporation may require in its sole discretion. 
Promptly after exercise of the Option as provided for above, the
Corporation shall deliver to the person exercising the Option a certificate or
certificates for the shares of Stock being purchased.

(B)           Same-Day-Sale Exercise (to
exercise and immediately sell all the Option Shares):  Subject to the terms and conditions of this
Option Agreement and the Plan, the Option may be exercised by delivering
written notice of exercise to the agent/broker designated by the Corporation,
which notice shall specify the number of shares for which the Option is being
exercised and irrevocable instructions to promptly (1) sell all of the shares
of Stock to be issued upon exercise and (2) remit to the Corporation the
portion of the sale proceeds sufficient to pay the Exercise Price for the
shares of Stock purchased pursuant to the exercise of the Option and all
applicable taxes due on the Option exercise. 
The agent/broker shall request issuance of the shares and immediately
and concurrently sell the shares on the Optionee’s behalf.  Payment of the Exercise Price for the shares
of Stock purchased pursuant to the exercise of the Option, any brokerage fees,
transfer fees, and all applicable taxes due on the Option exercise, shall be
deducted from the proceeds of the sale of the shares.  If the person exercising the Option is not
the Optionee, such person shall also deliver with the 

 4
 

notice of exercise
appropriate proof of his or her right to exercise the Option, as the
Corporation may require in its sole discretion. 
Promptly after exercise of the Option as provided for above, the
agent/broker shall deliver to the person exercising the Option the net proceeds
from the sale of the shares of Stock being exercised and sold.

(C)           Sell-to-Cover Exercise (to
exercise and immediately sell a portion of the Option Shares):  Subject to the terms and conditions of this
Option Agreement and the Plan, the Option may be exercised by delivering
written notice of exercise to the agent/broker designated by the Corporation,
which notice shall specify the number of shares for which the Option is being
exercised and irrevocable instructions to promptly (1) sell the portion (which
must be a whole number) of the shares of Stock to be issued upon exercise
sufficient to generate proceeds to pay the Exercise Price for the shares of
Stock purchased pursuant to the exercise of the Option, any brokerage or transfer
fees, and all applicable taxes due on the Option exercise (collectively the “Exercise
Costs”) and (2) remit to the Corporation a sufficient portion of the sale
proceeds to pay the Exercise Price for the shares of Stock purchased pursuant
to the exercise of the Option and all applicable taxes due on the Option
exercise.  The agent/broker shall request
issuance of the shares and immediately and concurrently sell on the Optionee’s
behalf only such number of the Shares as is required to generate proceeds sufficient
to pay the Exercise Costs.  Promptly
after exercise of the Option as provided for above, the Corporation shall
deliver to the person exercising the Option a certificate for the shares of
Stock issued upon exercise which are not sold to pay the Exercise Costs.  Promptly after exercise of the Option as
provided for above, the agent/broker shall deliver to the person exercising the
Option any net proceeds from the sale of the Shares in excess of the Exercise
Costs.  If the person exercising the
Option is not the Optionee, such person shall also deliver with the notice of
exercise appropriate proof of his or her right to exercise the Option, as the
Corporation may require in its sole discretion.

4.5.2.                     As soon as practicable upon the
Corporation’s receipt of the Optionee’s notice of exercise and payment, the
Corporation shall direct the due issuance of the shares so purchased.

4.5.3.                     As a further condition precedent
to the exercise of this Option in whole or in part, the Optionee shall comply
with all regulations and the requirements of any regulatory authority having
control of, or supervision over, the issuance of the shares of Stock and in
connection therewith shall execute any documents which the Board shall in its
sole discretion deem necessary or advisable.

5.              TRANSFERABILITY OF OPTIONS

During the
lifetime of an Optionee, only such Optionee (or, in the event of legal
incapacity or incompetency, the Optionee’s guardian or legal representative)
may exercise the Option.  No 

 5
 

Option shall be
assignable or transferable by the Optionee to whom it is granted, other than by
will or the laws of descent and distribution.

6.              COMPLIANCE
WITH LAW

The Corporation
shall make reasonable efforts to comply with all applicable federal and state
securities laws; provided, however, that notwithstanding any other provision of
this Option Agreement, the Option shall not be exercisable if the exercise
thereof would result in a violation of any such law.

7.              RIGHTS
AS STOCKHOLDER

Neither the Optionee nor any executor, administrator,
distributee or legatee of the Optionee’s estate shall be, or have any of the
rights or privileges of, a stockholder of the Corporation in respect of any
shares of Stock issuable hereunder unless and until such shares have been fully
paid and certificates representing such shares have been endorsed, transferred
and delivered, and the name of the Optionee (or of such personal
representative, administrator, distributee or legatee of the Optionee’s estate)
has been entered as the stockholder of record on the books of the Corporation.

8.              DISCLAIMER
OF RIGHTS

No provision in this Option Agreement shall be
construed to confer upon the Optionee the right to be employed by or to serve
as a Non-Employee Director of the Corporation, or to interfere in any way with
the right and authority of the Corporation either to increase or decrease the
compensation or other benefits of the Optionee at any time, or to terminate any
relationship between the Optionee and the Corporation.

9.              CHANGE IN CONTROL

For purposes of
this Option Agreement, “Change in Control” means:

(a)     Any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”)
becomes the beneficial owner (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 20% or more of either (i) the
then-outstanding shares of common stock of the Company (the “Outstanding
Company Common Stock”) or (ii) the combined voting power of the
then-outstanding voting securities of the Company entitled to vote generally in
the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that, for purposes of this Section 9(a), the following acquisitions
shall not constitute a Change in Control: 
(A) any acquisition directly from the Company, (B) any acquisition by
the Company, (C) any acquisition by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any Affiliated Company or (D)
any acquisition by any corporation pursuant to a transaction that complies with
Sections 9(c)(A), 9(c)(B) and 9(c)(C);

 6
 

(b)     Any time
at which individuals who, as of the date hereof, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the
date hereof whose election, or nomination for election by the Company’s
stockholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies
or consents by or on behalf of a Person other than the Board;

(c)     Consummation
of a reorganization, merger, statutory share exchange or consolidation or
similar transaction involving the Company or any of its subsidiaries, a sale or
other disposition of all or substantially all of the assets of the Company, or
the acquisition of assets or stock of another entity by the Company or any of
its subsidiaries (each, a “Business Combination”), in each case unless,
following such Business Combination, (A) all or substantially all of the
individuals and entities that were the beneficial owners of the Outstanding Company
Common Stock and the Outstanding Company Voting Securities immediately prior to
such Business Combination beneficially own, directly or indirectly, more than
50% of the then-outstanding shares of common stock (or, for a non-corporate
entity, equivalent securities) and the combined voting power of the
then-outstanding voting securities entitled to vote generally in the election
of directors (or, for a non-corporate entity, equivalent governing body), as
the case may be, of the entity resulting from such Business Combination
(including, without limitation, an entity that, as a result of such
transaction, owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially
the same proportions as their ownership immediately prior to such Business Combination
of the Outstanding Company Common Stock and the Outstanding Company Voting Securities,
as the case may be, (B) no Person (excluding any corporation resulting from
such Business Combination or any employee benefit plan (or related trust) of
the Company or such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 20% or more of, respectively, the
then-outstanding shares of common stock of the corporation resulting from such
Business Combination or the combined voting power of the then-outstanding
voting securities of such corporation, except to the extent that such ownership
existed prior to the Business Combination, and (C) at least a majority of the
members of the board of directors (or, for a non-corporate entity, equivalent
governing body) of the entity resulting from such Business Combination were
members of the Incumbent Board at the time of the execution of the initial
agreement or of the action of the Board providing for such Business Combination;
or

(d)     Approval
by the stockholders of the Company of a complete liquidation or dissolution of
the Company.

10.       INTERPRETATION
OF THIS OPTION AGREEMENT

All
decisions and interpretations made by the Board or the Compensation Committee
thereof with regard to any question arising under the Plan or this Option
Agreement shall be binding and conclusive on the Corporation and the Optionee
and any other person entitled to exercise the Option as provided for herein.

 7
 

11.       COMPLIANCE WITH SECTION 409A
OF THE CODE.

To the extent applicable, it is intended that this
Option Agreement and the Plan comply with the provisions of Section 409A of the
Code, so that the income inclusion provisions of Section 409A(a)(1) do not
apply to Optionee.  This Option Agreement
and the Plan shall be administered in a manner consistent with this intent, and
any provision that would cause the Option Agreement or the Plan to fail to
satisfy Section 409A of the Code shall have no force and effect until amended
to comply with Section 409A of the Code (which amendment may be retroactive to
the extent permitted by Section 409A of the Code and may be made by the
Corporation without the consent of the Optionee).

12.       GOVERNING
LAW

This Option Agreement shall be governed by the laws of
the State of Delaware (but not including the choice of law rules thereof).

13.       BINDING
EFFECT

Subject to all restrictions provided for in this
Option Agreement, the Plan, and by applicable law relating to assignment and
transfer of this Option Agreement and the Option provided for herein, this
Option Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, executors, administrators, successors and
assigns.

14.       NOTICE

Any notice hereunder by the Optionee to the Corporation
shall be in writing and shall be deemed duly given if mailed or delivered to
the Corporation at its principal office, addressed to the attention of Stock
Plan Administration or if so mailed or delivered to such other address as the
Corporation may hereafter designate by notice to the Optionee.  Any notice hereunder by the Corporation to
the Optionee shall be in writing and shall be deemed duly given if mailed or
delivered to the Optionee at the address specified below by the Optionee for
such purpose, or if so mailed or delivered to such other address as the
Optionee may hereafter designate by written notice given to the Corporation.

15.       SEVERABILITY

If one or more of the
provisions of this Option Agreement is invalidated for any reason by a court of
competent jurisdiction, any provision so invalidated shall be deemed to be
separable from the other provisions hereof, and the remaining provisions hereof
shall continue to be valid and fully enforceable.

 8
 

16.       ENTIRE
AGREEMENT; ELIGIBILITY

This Option Agreement and
the Plan together constitute the entire agreement and supersedes all prior
understandings and agreements, written or oral, of the parties hereto with
respect to the subject matter hereof. 
Except for amendments to the Plan incorporated into this Option
Agreement by reference pursuant to Section 2 above, neither this Option
Agreement nor any term hereof may be amended, waived, discharged or terminated
except by a written instrument signed by the Corporation and the Optionee; provided,
however, that the Corporation unilaterally may waive any provision
hereof in writing to the extent that such waiver does not adversely affect the
interests of the Optionee hereunder, but no such waiver shall operate as or be
construed to be a subsequent waiver of the same provision or a waiver of any
other provision hereof.  In the event
that it is determined that the Optionee was not eligible to receive this
Option, the Option and this Option Agreement shall be null and void and of no
further effect.

 9

SIGNATURE PAGE

IN WITNESS WHEREOF, the parties hereto have duly
executed this Option Agreement, or caused this Option Agreement to be duly
executed on their behalf, as of the day and year first above written.

	
  ACI Worldwide, Inc.:

  	
   

  	
  Optionee:

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  [____________________]

  	
   

  	
   

  	
   

  	
  [____________________]

  
	
  

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

 

	
  

  	
  ADDRESS FOR NOTICE TO OPTIONEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Number                Street                
  Apt.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  City                State
                  Zip
  Code

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SS#                                          Hire
  Date

  
	
   

  	
   

  	
   

  
	
   

  	
  DESIGNATED BENEFICIARY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Please Print Last Name, First Name MI

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Beneficiary’s Street Address

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  City                      State
                        Zip
  Code

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Beneficiary’s Social Security Number

  

 

I
understand that in the event of my death, the above named beneficiary will have
control of any unexercised options remaining in my account at that time.  If no beneficiary is designated or if the
named beneficiary does not survive me, the options will become part of my
estate.  This beneficiary designation
does NOT apply to stock acquired by the exercise of options prior to my death.

	
  

  	
   

  	
   

  
	
   

  	
   

  	
  SIGNATURE                                 DATE

  

 

	
   

  After completing this page,
  please make a copy for your records and return it to Stock Plan
  Administration, ACI Worldwide, Inc., 224 South 108 Avenue, Omaha, NE 68154

   

  

 

2005
Equity and Performance Plan, as amended - US Plan — Non-Employee Director

__________ Options 
                      $_______/Share
Exercise Price                         ______________

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