Document:

Employment Letter

 Exhibit 10.5 

 
 

 
 November 9, 2010 
 Janie M. West 
 2450 Shumard Oak Drive 
 Braselton, GA 30517 
 Dear Janie, 
 On behalf of Online Resources Corporation, I am pleased to offer you the position of Chief Marketing Officer, reporting to Joe Cowan, President and Chief Executive Officer, effective November 8,
2010. Outlined below are the details of our offer. 
 Salary: Your base compensation will be $230,000.00 per annum, paid semi-monthly at
$9,583.33 less applicable deductions. 
 Bonus/Incentive Programs: You will be eligible to participate in the company’s bonus plan
in 2011. Your targeted payout for your level is 50% of salary for a total target bonus of $115,000. The actual payout will depend on the company’s performance, and will be pro-rated based on time in position. 

In addition to the bonus plan, you will be eligible to participate in Online Resources’ Long Term Incentive (LTI) Program. As Chief Marketing
Officer, the annual grant for 2011 is targeted for the equivalent of 75% of salary representing a value of $172,500. (The 2011 grant is subject to the approval of the board of directors.) Since the grant is issued in quarterly increments, you will
be eligible for the program beginning January 2011. Additional details, including vesting upon change of control, will be outlined in plan documents and communicated at the time of the grant. 
 You will also be eligible for a New Hire Inducement Grant of $115,000 which will vest over a two year period. 50% of this grant will vest on your first year anniversary. You will be 100% vested on your
second year anniversary. 
 Severance Plan: As a valued member of the senior management team, you will be considered a “Named A
Level Executive” for determination of separation benefits as defined in our Company’s Severance Pay Policy, dated May 6, 2009.  
 Benefits: As a full-time employee you will be entitled to the benefits offered by Online Resources. You will receive more information on these benefits in your offer packet. Soon after you begin
employment, you will be invited to attend our Benefits Orientation program where you will learn more about our various benefit and recognition programs. 
 Employment Conditions: This offer is contingent upon successful completion of a background investigation and drug test. As a further condition of your employment, you must certify to us that you do
not have a continuing legal obligation to your previous employer, including an agreement relating to non-competition. If you have such an agreement, please present it to our Human Resources Department. 

 Additionally, you should understand that your employment with our company is “at will”, which
means that either you or the Company may terminate the relationship at any time with or without cause and with or without notice. 
 To accept
this employment offer, please sign and date this letter in the space marked below and return by fax to me at fax number 703-653-3107 at your earliest possible convenience. If your acceptance is not received within seven calendar days after the date
of this letter, this employment offer is withdrawn. 
 We look forward to your acceptance of this offer and to working with you in the future.

 If you have any questions, please don’t hesitate to contact me at 703-653-2291. 

Sincerely, 
 /s/ Sheri Mullin 

Sheri Mullin, SPHR 
 Vice President, Human
Resources and Training 
 Offer Accepted: 
 Signature: /s/ Janie M. West 
 Date: November 14, 2010Retention Bonus Agreement

 Exhibit 10.6 

 

			
	

	  	

 April 1, 2012 

Janie West 
 2450 Shumard Oak Drive 

Braselton, GA 30517 
 Dear Janie: 

Online Resources Corporation (the “Company”) is pleased to offer you a special bonus arrangement as a retention incentive for you to maintain
your employment in good standing with the Company through March 31, 2013 (your “Stay Date”). Under this arrangement, and subject to the conditions described below in this letter, if you are actively employed by the Company on your Stay
Date, you will be entitled to a payment from the Company of $59,000 (your “Retention Bonus”). Generally, your retention bonus will be paid to you in a single cash payment, less any applicable Federal and state income and employment taxes
required to be withheld, within fifteen days following your Stay Date. 
 If you voluntarily terminate your employment with the Company before
your Stay Date, you will not be entitled to payment of any portion of your Retention Bonus. Also, if your employment with the Company is terminated by the Company “for Cause” before your Stay Date, you will not be entitled to payment of
any portion of your Retention Bonus. For purposes of your Retention Bonus, your employment will be considered to have been terminated “for Cause” if the reason for the termination is: (i) your commission of any acts of fraud or
misappropriation intended to result in substantial personal enrichment at the expense of the Company; (ii) your repeated violations of your obligations to the Company that are demonstrably willful and deliberate and that result in material injury to
the Company; or (iii) your breach of an published Company policy that, in the opinion of counsel, had a reasonable likelihood to expose the Company to material liability or material regulatory noncompliance. 

In addition, if you have been placed on a Performance Improvement Plan (“PIP”) that is in effect at the time of your Stay Date, or that you
have successfully cleared within 60 days before your Stay Date, you will only be entitled to receive your Retention Bonus if remain employed by the Company and are in good standing on the date that is 60 days after you have successfully cleared the
PIP. In that case, payment of your Retention Bonus will be made, less any applicable Federal and state income and employment taxes required to be withheld, within fifteen days following the date that is 60 days after you have successfully cleared
the PIP. 
  
 

 

  
 1 

 On the other hand, if your employment with the Company is terminated by the Company other than “for
Cause” before your Stay Date, you will be entitled to receive your Retention Bonus at the time of your termination. 
 Nothing in this
letter or in the offer to you of a Retention Bonus is intended to create an employment contract for any specific period of time. You should understand that you, like all employees at the Company are employed “at will,” which means that you
and the Company each have the right to terminate the employment relationship at any time for any reason, whether or not “for Cause.” In addition, any determination of your entitlement to receive a Retention Bonus in accordance with the
terms and conditions set forth in this letter, including whether your employment terminated “for Cause,” whether you were subject to a PIP at any time, whether you have successfully cleared a PIP, or whether you are in good standing with
the Company will be made by the Company in its sole discretion and will be binding on you and the Company unless you can demonstrate by clear and convincing evidence that the Company was acting in bad faith in making the determination. 

Sincerely, 
 /s/ Sheri Mullin 

Sheri Mullin 
 Vice President, Human Resources

 & Training 
 Accepted:

  

			
	/s/ Janie West	  	
	  
	  	

 Signature 
  

			
	Janie
West                                         
       4-11-2012	  	
	  
	  	
	Print Name
                                         
           Date	  	

  
 2Consent Agreement

 Exhibit 10.7 
 CONSENT AGREEMENT 
 This Consent Agreement (this “Agreement”) is
made as of January 30, 2013, by and between the undersigned optionholder (“Optionee”) and Online Resources Corporation, a Delaware corporation (the “Company”). 

A. Optionee holds one or more options to purchase shares of the Company’s common stock (the “Options”); 

B. The Company, ACI Worldwide, Inc., a Delaware corporation (“Parent”), and Ocelot Acquisition Corp., a Delaware corporation
(“Purchaser”), intend to enter into a Transaction Agreement (the “Transaction Agreement”), pursuant to which Purchaser will merge with and into the Company (the “Closing”, and the date on which the Closing occurs, the
“Closing Date”); and 
 C. Optionee’s execution and delivery of this Agreement is a material inducement to the
Company, Parent and Purchaser to enter into the Transaction Agreement and effectuate the transactions contemplated thereby. 

NOW, THEREFORE, the parties hereto, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
intending to be legally bound, hereby agree as follows: 
 1. Termination of the Options. Optionee irrevocably agrees
that effective as of the Closing, Optionee hereby cancels, forfeits and surrenders all right, title or interest in or to the Options or any equity of the Company purportedly purchasable upon exercise of the Options (but excluding any Common Stock
previously purchased upon exercise of all or part of the Options), and the Options will thereupon be cancelled and terminated and treated as described in this Section 1. Effective as of the Closing, (i) each Option then held by Optionee
(whether or not vested) that has a per share exercise price less than the amount to be paid per share of Common Stock to holders thereof (“Per Share Amount”) as a result of the Closing (“In the Money Options”) will be cancelled
in exchange for a cash payment to be made on or as soon as practicable after the Closing Date in an amount equal to the product of (A) the excess of the Per Share Amount over such per share exercise price times (B) the number of shares of
Common Stock subject to such In the Money Options (whether or not vested) immediately prior to such cancellation, and (ii) each Option then held by Optionee that has a per share exercise price that equals or exceeds the Per Share Amount will be
cancelled in exchange for no consideration. Amounts payable under this Section 1 will be subject to the deductions and withholdings for taxes set forth in the Transaction Agreement. 

2. Representations and Warranties of Optionee. Optionee hereby represents and warrants that (i) Optionee has good and
unencumbered title to the Options, free and clear of all restrictions or limitations of any kind whatsoever, (ii) Optionee has not transferred or otherwise disposed of (including by gift), or consented to any transfer of, any of the Options or
any interest therein, or entered into any 

 
arrangement with respect to the transfer of the Options to any person or entity other than the Company, and (iii) Optionee has carefully reviewed this Agreement and fully understands the
terms and conditions hereof and intends for the terms hereof to be binding on and enforceable against Optionee and has entered into this Agreement voluntarily. All representations and warranties of Optionee contained herein will survive the
execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 3. Release and
Indemnity. Optionee hereby releases and forever discharges the Company, Parent, Purchaser, and each of their respective former, current and future stockholders, subsidiaries, affiliates, employees, directors, officers, agents, heirs,
administrators, and each of their predecessors, successors and assigns (the “Released Parties”), of and from any and all claims arising from or in connection with the Options, including any claim or right of Optionee to purchase stock of
the Company upon exercise of the Options or otherwise; provided, however, that the foregoing release does not apply to the right of Optionee to receive payment in respect of In the Money Options as set forth in Section 1 hereof.
In addition, Optionee will defend and hold the Released Parties harmless from and against and in respect of any and all claims, including interest, penalties and reasonable attorney’s fees, that such indemnified persons may incur or suffer and
that relate to any failure by Optionee to perform or honor any of Optionee’s covenants or agreements set forth in this Agreement. 
 4. Effectiveness. This Agreement is effective immediately upon its execution by the parties, but will terminate automatically if the Transaction Agreement is terminated without the occurrence of
the Closing. 
 5. Miscellaneous. This Agreement is to be governed by, and construed an enforced in accordance with, the
laws of the State of Delaware, without giving effect to conflict of law principles that would result in the application of the law of any other State. Parent and Purchaser are intended, express third-party beneficiaries of this Agreement and will be
entitled to enforce the rights of the Company, as well as the obligations of Optionee, in each case as if a party hereto. Irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with
their specific terms or were otherwise breached. The parties accordingly agree that the Company, Parent and Purchaser will be entitled to an injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions of
this Agreement, in addition to any other remedy to which they are entitled at law or in equity. 
 [Signature Page Follows]

 IN WITNESS WHEREOF, the undersigned has executed this Consent Agreement as of the date first
above written. 
  

			
	ONLINE RESOURCES CORPORATION
		
	By:	 	/s/ Joseph L. Cowan
		 	  

		 	Name: Joseph L. Cowan
		 	Title: Chief Executive Officer
	
	OPTIONEE
	
	/s/ Joseph L. Cowan
	Name: Joseph L. Cowan

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