Document:

Exhibit 10.21

 

 

 

 

AMENDED AND RESTATED

STOCK OPTION AGREEMENT

 

UNDER

 

TRANSACTION SYSTEMS ARCHITECTS, INC.

1999 STOCK OPTION PLAN

as amended by

the Stockholders on February 22, 2000,

the Board of Directors on May 5, 2000,

the Stockholders on February 20, 2001, and

the Stockholders on February 19, 2002

 

US MASTER

 

 

 

 

TABLE OF CONTENTS

 

	
  1.

  	
  GRANT OF NON-QUALIFIED STOCK OPTION

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  TERMS OF PLAN

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  EXERCISE PRICE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  EXERCISE OF OPTION

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.1

  	
  Time of Exercise of Option

  	
   

  
	
   

  	
  4.2

  	
  Acceleration of Option

  	
   

  
	
   

  	
  4.3

  	
  Termination of Option

  	
   

  
	
   

  	
  4.4

  	
  Effect of Optionee’s Disability or Death

  	
   

  
	
   

  	
  4.5

  	
  Limitations on Exercise of Option

  	
   

  
	
   

  	
  4.6

  	
  Method of Exercise of Option

  	
   

  
	
   

  	
   

  	
  Cash Exercise

  	
   

  
	
   

  	
   

  	
  Same-Day-Sale Exercise

  	
   

  
	
   

  	
   

  	
  Sell-to-Cover Exercise

  	
   

  
	
   

  	
  4.7

  	
  Parachute Limitations

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  TRANSFERABILITY OF OPTIONS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  RIGHTS AS STOCKHOLDER

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  WITHHOLDING OF TAXES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  DISCLAIMER OF RIGHTS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  INTERPRETATION OF THIS OPTION AGREEMENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  GOVERNING LAW

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  BINDING EFFECT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
  NOTICE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
  ENTIRE AGREEMENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SIGNATURE PAGE (TO BE
  COMPLETED AND RETURNED)

  	
   

  
					

 

 

AMENDED AND RESTATED

STOCK OPTION AGREEMENT

TRANSACTION SYSTEMS ARCHITECTS, INC.

1999 STOCK OPTION PLAN

as amended by

the Stockholders on February 22, 2000,

the Board of Directors on May 5, 2000,

the Stockholders on February 20, 2001, and

the Stockholders on February 19, 2002

 

This Stock
Option Agreement (the “Option Agreement”) is made as of __________, by and between Transaction Systems Architects, Inc., (“TSA”)
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
Class A 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 Class A 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.

 

2

 

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:

 

(i) any
individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Exchange Act) (a “Person”) is or becomes the beneficial owner
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or
more of the combined voting power of the then-outstanding Voting Stock of the
Corporation; provided, however, that:

 

(1) for
purposes of this paragraph (i), the following acquisitions shall not constitute
a Change in Control: (A) any acquisition of Voting Stock of the Corporation
directly from the Corporation that is approved by a majority of the Incumbent
Directors, (B) any acquisition of Voting Stock of the Corporation by the
Corporation or any subsidiary of the Corporation, (C) any acquisition of Voting
Stock of the Corporation by the trustee or other fiduciary holding securities
under any employee benefit plan (or related trust) sponsored or maintained by
the Corporation or any subsidiary of the Corporation, and (D) any acquisition
of Voting Stock of the Corporation by any Person pursuant to a Business
Transaction that complies with clauses (A), (B) and (C) of subparagraph (i)(3)
below;

 

(2) if any
Person is or becomes the beneficial owner of 20% or more of combined voting
power of the then-outstanding Voting Stock of the Corporation as a result of a
transaction described in clause (A) of subparagraph (i)(1) above and such
Person thereafter becomes the beneficial owner of any additional shares of
Voting Stock of the Corporation representing 1% or more of the then-outstanding
Voting Stock of the Corporation, other than in an acquisition directly from the
Corporation that is approved by a majority of the Incumbent Directors or other
than as a result of a stock dividend, stock split or similar transaction effected
by the Corporation in which all holders of Voting Stock are treated equally,
such subsequent acquisition shall be treated as a Change in Control;

 

(3) a Change
in Control will not be deemed to have occurred if a Person is or becomes the
beneficial owner of 20% or more of the Voting Stock of the Corporation as a
result of a reduction in the number of shares of Voting Stock of the
Corporation outstanding pursuant to a transaction or series of transactions
that is approved by a majority of the Incumbent Directors unless and until such
Person thereafter becomes the beneficial owner of any additional shares of
Voting Stock of the Corporation 

 

3

 

representing 1% or more of the
then-outstanding Voting Stock of the Corporation, other than as a result of a
stock dividend, stock split or similar transaction effected by the Corporation
in which all holders of Voting Stock are treated equally; and

 

(4) if at
least a majority of the Incumbent Directors determine in good faith that a
Person has acquired beneficial ownership of 20% or more of the Voting Stock of
the Corporation inadvertently, and such Person divests as promptly as
practicable but no later than the date, if any, set by the Incumbent Board a
sufficient number of shares so that such Person beneficially owns less than 20%
of the Voting Stock of the Corporation, then no Change in Control shall have
occurred as a result of such Person’s acquisition; or

 

(ii) a
majority of the Board ceases to be comprised of Incumbent Directors; or

 

(iii) the
consummation of a reorganization, merger or consolidation, or sale or other
disposition of all or substantially all of the assets of the Corporation or the
acquisition of the stock or assets of another corporation, or other transaction
(each, a “Business Transaction”), unless, in each case, immediately following
such Business Transaction (A) the Voting Stock of the Corporation outstanding
immediately prior to such Business Transaction continues to represent (either
by remaining outstanding or by being converted into Voting Stock of the
surviving entity or any parent thereof), more than 60% of the combined voting
power of the then outstanding shares of Voting Stock of the entity resulting
from such Business Transaction (including, without limitation, an entity which
as a result of such transaction owns the Corporation or all or substantially
all of the Corporation’s assets either directly or through one or more
subsidiaries), (B) no Person (other than the Corporation, such entity resulting
from such Business Transaction, or any employee benefit plan (or related trust)
sponsored or maintained by the Corporation, any subsidiary of the Corporation
or such entity resulting from such Business Transaction) beneficially owns,
directly or indirectly, 20% or more of the combined voting power of the then
outstanding shares of Voting Stock of the entity resulting from such Business
Transaction, and (C) at least a majority of the members of the Board of
Directors of the entity resulting from such Business Transaction were Incumbent
Directors at the time of the execution of the initial agreement or of the
action of the Board providing for such Business Transaction; or

 

(iv) approval
by the shareholders of the Corporation of a complete liquidation or dissolution
of the Corporation, except pursuant to a Business Transaction that complies
with clauses (A), (B) and (C) of paragraph (iii).

 

For purposes
of this Section 4.2, the term “Exchange Act” means the Securities Exchange
Act of 1934, as amended.

 

For purposes
of this Section 4.2, the term “Incumbent Directors” means the 

 

4

 

individuals
who, as of the date hereof, are Directors of the Corporation and any individual
becoming a Director subsequent to the date hereof whose election, nomination
for election by the Corporation’s shareholders, or appointment, was approved by
a vote of at least two-thirds of the then Incumbent Directors (either by a
specific vote or by approval of the proxy statement of the Corporation in which
such person is named as a nominee for director, without objection to such
nomination); provided, however, that an individual shall not be
an Incumbent Director if such individual’s election or appointment to the Board
occurs as a result of an actual or threatened election contest (as described in
Rule 14a-12(c) of the Exchange Act) 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.

 

For purposes
of this Section 4.2, the term “Voting Stock” means securities entitled to
vote generally in the election of directors.

 

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.

 

5

 

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 

 

6

 

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 

 

7

 

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, 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.

 

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 

 

8

 

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 

 

9

 

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.

 

 

10

 

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.

 

	
  Transaction Systems Architects, 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 Street Address

  
												

 

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 Transaction Systems Architects Inc. 224 S. 108 Avenue Omaha
NE  68154

 

1999 Stock Option Plan – US Plan

	
   

  	
  Options

  	
  $

  	
   

  	
  /Share Exercise Price

  	
   

  	
  Date

  	
   

  

 

11Exhibit 10.22

 

 

 

 

STOCK OPTION AGREEMENT

 

UNDER

 

TRANSACTION
SYSTEMS ARCHITECTS, INC.

2000
NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

 

 

 

TABLE OF CONTENTS

 

	
  1

  	
  GRANT OF
  NON-QUALIFIED STOCK OPTION

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  TERMS OF PLAN

  	
   

  
	
   

  	
   

  	
   

  
	
  3.

  	
  EXERCISE PRICE

  	
   

  
	
   

  	
   

  	
   

  
	
  4.

  	
  EXERCISE OF
  OPTION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  4.1 

  	
  Time of Exercise of Option

  	
   

  
	
   

  	
  4.2

  	
  Termination
  of Option

  	
   

  
	
   

  	
  4.3 

  	
  Effect of
  Optionee’s Disability or Death

  	
   

  
	
   

  	
  4.4 

  	
  Limitations on
  Exercise of Option

  	
   

  
	
   

  	
  4.5 

  	
  Method of Exercise of
  Option

  	
   

  
	
   

  	
   

  	
  Cash Exercise

  	
   

  
	
   

  	
   

  	
  Same-Day-Sale
  Exercise

  	
   

  
	
   

  	
   

  	
  Sell-to-Cover
  Exercise

  	
   

  
	
   

  	
  4.6

  	
  Parachute
  Limitations

  	
   

  
	
   

  	
   

  	
   

  
	
  5.

  	
  TRANSFERABILITY OF OPTIONS

  	
   

  
	
   

  	
   

  	
   

  
	
  6.

  	
  RIGHTS
  AS STOCKHOLDER

  	
   

  
	
   

  	
   

  	
   

  
	
  7.

  	
  WITHHOLDING
  OF TAXES

  	
   

  
	
   

  	
   

  	
   

  
	
  8.

  	
  DISCLAIMER
  OF RIGHTS

  	
   

  
	
   

  	
   

  	
   

  
	
  9.

  	
  INTERPRETATION
  OF THIS OPTION AGREEMENT

  	
   

  
	
   

  	
   

  	
   

  
	
  10.

  	
  GOVERNING LAW

  	
   

  
	
   

  	
   

  	
   

  
	
  11.

  	
  BINDING EFFECT

  	
   

  
	
   

  	
   

  	
   

  
	
  12.

  	
  NOTICE

  	
   

  
	
   

  	
   

  	
   

  
	
  13.

  	
  ENTIRE
  AGREEMENT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SIGNATURE PAGE
  (TO BE COMPLETED AND RETURNED

  	
   

  

 

 

This Stock Option Agreement (the “Option Agreement”)
is made as of ____________, by and
between Transaction Systems Architects, Inc., (“TSA”) a Delaware corporation
(the “Corporation”) and _____________, a
Non-Employee Director of the Corporation (the “Optionee”).

 

WHEREAS, the Board of Directors of the Corporation has
duly adopted and approved, the 2000 Non-Employee Director 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 Class A
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

 

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 Option Agreement,
_________ shares of Class A Common Stock (“the 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.

 

1

 

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 Stock Option Agreement and in the
Plan), in installments as follows:

 

(i)                No
Option may be exercised during the first year from the Date of Grant;

 

(ii)               After
one year from the 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)              After
the expiration of each of the second, and third years from the 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              Termination of Option

 

The Option shall terminate upon the earlier of the
expiration of a period of (i) ten years from the Date of Grant, or (ii) one
month from the date of the Optionee’s termination of Service on the Board; provided,
however, and subject to all Plan provision relating to termination, 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 

 

2

 

specified in such provision, after the Optionee’s
termination of employment with the Corporation or a subsidiary within which the
Option is exercisable.

 

4.3              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.

 

4.4              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
Date of Grant, or after the occurrence of an event that results in termination
of the Option under the Plan.

 

4.5              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 

 

3

 

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 

 

4

 

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.

 

4.6              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, 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.

 

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

 

5

 

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 

 

6

 

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, 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.

 

 

7

 

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.

 

	
  Transaction
  Systems Architects, 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
  Street Address

  
												

 

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 Transaction Systems Architects Inc. 224 S. 108 Avenue Omaha
NE  68154

 

2000
Non-Employee Directors Stock Option Plan

	
   

  	
  Shares

  	
  $

  	
   

  	
  /Share Exercise Price

  	
   

  	
   

  	
  Date

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