Document:

Exhibit 10.7 - Limited Standstill Agreement

    
      

      

    

    

    

    

    LIMITED
      STANDSTILL AGREEMENT

    

    THIS
      LIMITED STANDSTILL AGREEMENT
      (the
“Agreement”) is made as of the 1st
      day of
      September, 2006, by the signatories hereto (each a “Holder”), in connection with
      his ownership of shares of common stock of OXFORD MEDIA, INC., a Nevada
      corporation (the “Company”).

    

    NOW,
      THEREFORE, for good and valuable consideration, the sufficiency and receipt
      of
      which consideration are hereby acknowledged, Holder agrees as
      follows:

    

    1.    Background.

    

    a.    Holder
      is
      the beneficial owner of the amount of shares of the Common Stock, $.001 par
      value, of the Company (“Common Stock”) designated on the signature page
      hereto.

    

    b.    Holder
      acknowledges that the Company has entered into or will enter into an agreement
      with each subscriber (“Subscription Agreement”) to the Company’s notes and
      warrants (the “Subscribers”), for the sale of an aggregate of up to $9,500,000
      of principal amount of convertible promissory notes (“Notes”) and warrants to
      the Subscribers (the “Offering”). Holder understands that, as a condition to
      proceeding with the Offering, the Subscribers have required, and the Company
      has
      agreed to obtain, an agreement from the Holder to refrain from selling any
      securities of the Company from the date of the Subscription Agreement and until
      the sooner of (i) the Notes are no longer outstanding; or, (ii) the date the
      Registration Statement (as defined in Section 13.1(iv) of the Subscription
      Agreement) has been effective for use in the unrestricted public resale of
      the
      Common Stock for 365 days (the “Restriction Period”). 

    

    2.    Share
      Restriction. 

    

    a.    Holder
      hereby agrees that during the Restriction Period, the Holder will not sell
      or
      otherwise dispose of any shares of Common Stock or any options, warrants or
      other rights to purchase shares of Common Stock or any other security of the
      Company which Holder owns or has a right to acquire as of the date hereof and
      the Initial Closing Date (as defined in the Subscription Agreement), other
      than
      in connection with an offer made to all shareholders of the Company or any
      merger, consolidation or similar transaction involving the Company, or as
      otherwise permitted below. 

    

    b.    Holder
      further agrees that the Company is authorized to and the Company agrees to
      place
“stop orders” on its books to prevent any transfer of shares of Common Stock or
      other securities of the Company held by Holder in violation of this
      Agreement.

    

    c.    Any
      subsequent issuance to and/or acquisition of shares or the right to acquire
      shares by Holder will be subject to the provisions of this
      Agreement.

    

    

    

    
      
        
           

        

        
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    d.    Notwithstanding
      the foregoing restrictions on transfer, the Holder may, from time to time during
      the Restriction Period, transfer the Common Stock (i) as bona fide gifts or
      transfers by will or intestacy; (ii) to any trust for the direct or indirect
      benefit of the undersigned or the immediate family of the Holder, provided
      that
      any such transfer shall not involve a disposition for value; (iii) to a
      partnership which is the general partner of a partnership of which the Holder
      is
      a general partner, provided, that, in the case of any gift or transfer described
      in clauses (i), (ii) or (iii), each donee or transferee agrees in writing prior
      to the transfer, to be bound by the terms and conditions contained herein in
      the
      same manner as such terms and conditions apply to the undersigned;(iv) in an
      amount not to exceed in any calendar month 5% of the average trading volume
      for
      the immediately preceding calendar month, but in no
      event
      shall
      (1) all Holders, in the aggregate, exceed this 5% limitation in any calendar
      month, and (2) any single Holder transfer in any calendar year more than 10%
      of
      the shares beneficially owned by that Holder. For purposes hereof, “immediate
      family” means any relationship by blood, marriage, or adoption, not more remote
      than first cousin. Notwithstanding the foregoing, HERBERT PRESLEY, upon five
      (5)
      days written notice, shall be entitled to a one-time transfer of no more than
      forty percent (40%) of the shares beneficially owned by him for the sole purpose
      of acquiring a principal residence. 

    

    3.    Miscellaneous.

    

    a.    At
      any
      time, and from time to time, after the signing of this Agreement Holder will
      execute such additional instruments and take such action as may be reasonably
      requested by the Subscribers to carry out the intent and purposes of this
      Agreement.

    

    b.    This
      Agreement shall be governed, construed and enforced in accordance with the
      laws
      of the State of New York without regard to conflicts of laws principles that
      would result in the application of the substantive laws of another jurisdiction,
      except to the extent that the securities laws of the state in which Holder
      resides and federal securities laws may apply. Any proceeding brought to enforce
      this Agreement may be brought exclusively in courts sitting in New York County,
      New York.

    

    c.    This
      Agreement contains the entire agreement of the Holder with respect to the
      subject matter hereof.

    

    d.    This
      Agreement shall be binding upon Holder, its legal representatives, successors,
      and assigns.

    

    e.    This
      Agreement may be signed and delivered by facsimile or by E-Mail delivery of
      a
“.pdf” format data file and such facsimile or E-Mail signed and delivered shall
      be enforceable.

    

    f.    The
      Company agrees not to take any action or allow any act to be taken which would
      be inconsistent with this Agreement.

    

    g.    This
      Agreement may be executed in any number of original, fax, or electronic
      counterparts, and all counterparts shall be considered together as one
      agreement.

    

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    IN
      WITNESS WHEREOF,
      and
      intending to be legally bound hereby, Holder has executed this Limited
      Standstill Agreement as of the day and year first above written.

     

    

    

    
      	
              HOLDER:

            	
              COMPANY:

            
	 	 
	 	
              OXFORD
                MEDIA, INC.

            
	
              _____________________________

            	 
	 	 
	
              NAME:
                ______________________

            	
              BY:
                ______________________________

            
	 	 
	 	
              NAME:
                ___________________________

            
	 	 
	 	
              TITLE:
                ____________________________

            

    

    Number
      of
      Shares of Common Stock Actually Owned: _________________

    

    Number
      of
      Additional Shares of Common Stock Beneficially Owned: _________________

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     3Exhibit
10.2

CARREKER CORPORATION

SENIOR EXECUTIVE

EMPLOYMENT
AGREEMENT

This Employment Agreement
(the “Agreement”) is entered into effective as of May 19, 2006, between
Carreker Corporation, a Delaware corporation with its principal executive
offices at 4055 Valley View Lane, Suite 1000, Dallas, Texas 75244 (the “Company”),
and John D. Carreker, III (the “Executive”) who resides at 6648 Castle Pines
Drive, Plano, Texas 75093.

W I T N E S S E T
H:

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

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

1.                                       DEFINITIONS.

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

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

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

 

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

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

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

2.                                       EMPLOYMENT.

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

3.                                       TERM.

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

4.                                       SALARY.

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

(b)           The Executive shall be entitled to
participate in any employee bonus plan or arrangement made available by the
Chairman or Board of Directors in the future to its executive officers, subject
to and on a basis consistent with the terms, conditions and overall
administration of such plan or arrangement (“Targeted Bonus”).

 

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

5.                                       POSITION.

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

6.                                       DUTIES.

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

7.                                       DISABILITY.

If the Executive is unable
to perform his/her services by reason of illness or incapacity for a continuous
period in excess of six months, unless otherwise required by the provisions of
Sections 10 or 25 of this Agreement, compensation otherwise payable
by the Company shall cease and any future payments to the Executive shall be
subject to the terms and provisions of long-term disability insurance coverage,
if any, maintained by the Company. 
Notwithstanding anything herein to the contrary, the Chairman or Board
of Directors of the Company may terminate the Executive’s employment with the
Company under this Agreement at any time after the Executive shall be absent
from his/her employment, for whatever reason, for a continuous period of more
than six months, and, except for any obligations of the Company under
Sections 10, 24, and 27 of this Agreement, all other obligations of
the Company hereunder shall cease upon such termination.

 

8.                                       COMPENSATION AFTER DEATH.

If the Executive dies
during the term of his/her employment, the Company shall pay to such person as
the Executive shall designate in a notice filed with the Company, or, if no
such person shall be designated, to his/her estate as a lump sum death benefit,
all earned and unpaid base salary, prorated bonuses (if any) for that portion
of the year of his/her death during which he worked, other bonuses (if any)
accrued and payable, and accrued benefits, all as of the date of his/her death,
in addition to any payments the Executive’s spouse, beneficiaries, or estate
may be entitled to receive pursuant to any pension or employee benefit plan or
life insurance policy which may be maintained by the Company, and such payments
shall fully discharge the Company’s obligations hereunder.

9.                                       TERMINATION.

9.1                                 Termination Prior to the
Triggering Date.

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

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

(c)           Executive agrees to continue in
employment with the Company through August 15, 2006.    Provided that the Executive continues his
employment through August 15, 2006, the Company shall pay the Executive, upon
Executive’s termination of his employment prior to any Triggering Date, severance
payments in an amount equal to the Executive’s annualized Base Salary in effect
at the time of such termination (“Annual Base Salary”), payable in installments
over a period of 12 months. After a Triggering Date, this subsection 9(c) shall
have no further force and effect.  Notwithstanding
subsection (b) above, any termination by Executive under this subsection (c) shall
require 30 days notice by Executive.

(d)           In the event that (i) the Company
terminates the Executive’s employment for any reason other than for Cause and
at a time when Executive is not eligible to receive benefits under the Company’s
Long Term Disability Plan; or (ii) the Executive terminates his/her employment
as a result of any of the following reasons: (A) without the Executive’s
consent the Company materially diminishes the Executive’s duties, assigns to
the Executive duties materially inconsistent with his/her designated position,
or reduces the Executive’s Base Salary or Targeted Bonus to an amount less than
previously determined or established by the Chairman or Board of Directors, (B) the Company’s requiring the
Executive to perform services at any location outside the Dallas, Texas
metropolitan area, other than reasonable business travel or (C) the Company
breached any of its material obligations under this Agreement and such breach
is not cured within 30 days after written notice thereof by the Executive; then
the Company shall pay the Executive severance payments in an amount equal to
the sum of the (x) Executive’s Annual Base Salary, and (y) an amount equal to
the maximum amount of Targeted Bonus that could have been payable to Executive
under the bonus plan not to exceed fifty percent (50%) of Annual Base Salary in
effect for the fiscal year

 

during which notice of such termination occurs (“Bonus”)
(provided, however, that if the basis for Executive’s termination is the
reduction in his/her Base Salary, the severance pay shall be based on the Base
Salary in effect prior to such reduction). 
The severance payments shall be made in installments over a period of 12
months.  Notwithstanding the foregoing,
if the Executive terminates his/her employment pursuant to clause (ii) above,
he shall be entitled to the severance payments provided for in this paragraph
only if he gives written notice to the Company of his/her termination of
employment within 30 days after the occurrence of the event or events specified
in clause (ii) on which he bases his/her termination and such notice specifies
such event or events.

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

(f)            In the event that the Company terminates
the Executive’s employment for Cause, the Company will have no liability on its
part for further payments after the termination date to the Executive.

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

9.2                                 Termination After the
Triggering Date.

(a)           On or after the Triggering Date and
irrespective of whether or not the Executive has given notice of termination of
employment pursuant to Section 9.2(c), the Company may terminate the Executive’s
employment with the Company under this Agreement with no liability on its part
for further payments to the Executive only for Cause, subject to the provisions
of Sections 25 and 28 hereof,.

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

(c)           On or after the Triggering Date, the
Executive may, in his/her sole and absolute discretion and without any prior
approval by the Board of Directors of the Company, and upon 60 days prior
written notice to the Company, terminate his/her employment with the Company
under this Agreement for any reason whatsoever. If the Executive’s employment
with the Company under this Agreement is terminated pursuant to this Subsection
9.2(c) and subject in all respects to the provisions of Section 9.2(a) and (b),
the Executive will continue to accrue and receive his/her base salary and
Benefits through the date of termination. 
No termination of the Executive’s employment with the Company pursuant
to Subsections 9.2(b) or (c) shall in any way terminate the Company’s
obligations under Sections 25 and 28 of this Agreement.

 

10.                                 COMPENSATION AFTER CERTAIN
TERMINATIONS.

If the Executive’s
employment with the Company is terminated by the Company without Cause or by
the Executive for Good Reason at any time on or within two years after the
Triggering Date, unless termination is a result of  (a)  the
Executive having reached the age of 65, or (b) the Executive’s death,
then, within five days after the date of such termination, the Company shall
pay the Executive a lump sum amount in cash equal to two (2) times the sum of
the (x) Executive’s Annual Base Salary and (y) Bonus.

11.                                 TRANSFER OF ASSETS TO
IRREVOCABLE TRUST.

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

12.                                 MITIGATION.

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

13.                                 NON-COMPETE AND
CONFIDENTIAL INFORMATION. 

13.1.                        Covenant Not to Compete. 

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

 

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

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

13.2.                        Enforcement. 

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

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

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

 

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

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

13.3.        Confidential Information. The Executive shall hold in a fiduciary capacity for
the benefit of the Company all secret or confidential information, knowledge or
data relating to the Company or any of its affiliated companies, and their
respective businesses, which shall have been obtained by the Executive during
the Executive’s employment by the Company or any of its affiliated companies
and which shall not be or become public knowledge (other than by acts by the
Executive or representatives of the Executive in violation of this Agreement).
After termination of the Executive’s employment with the Company, the Executive
shall not, without the prior written consent of the Company or as may otherwise
be required by law or legal process, communicate or divulge any such
information, knowledge or data to anyone other than the Company and those
designated by it. In no event shall an asserted violation of the provisions of
this Section 13(c) constitute a basis for deferring or withholding any amounts
otherwise payable to the Executive under this Agreement.

14.           ENTIRE AGREEMENT.

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

 

15.           LAW TO GOVERN.

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

16.           ASSIGNMENT.

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

17.           BINDING AGREEMENT.

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

18.           REFERENCES AND GENDER.

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

19.           WAIVER.

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

20.           DISPUTE RESOLUTION.

Any controversy or claim arising out
of or relating to this Agreement, or the breach thereof, shall be settled
solely and exclusively by arbitration in accordance with the National

 

Rules for the Resolution of Employment Disputes of
the American Arbitration Association (“AAA”), as modified herein (the “Rules”).  Disputes will be heard and determined by a
sole neutral arbitrator who is a Texas licensed employment lawyer appointed in
accordance with the Rules.  The place of
arbitration shall be Dallas, Texas.

To the extent permitted by law,
judgment upon any award of the arbitrator shall be final, binding and
conclusive and may be entered upon the motion of either party in any court
having jurisdiction thereof or having jurisdiction over one or more of the
parties or their assets.  The award of
the arbitrators may grant any relief that might be granted by a court of
competent jurisdiction.  Either party,
before or during any arbitration, may apply to a court of competent
jurisdiction for equitable relief where such relief is necessary to protect its
interests pending completion of the arbitration.

21.           NOTICES.

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

22.           OTHER INSTRUMENTS.

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

23.           HEADINGS.

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

24.           INVALID PROVISION.

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

25.           RIGHTS UNDER PLANS AND PROGRAMS.

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

 

26.           MULTIPLE COPIES.

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

27.           WITHHOLDING OF TAXES.

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

28.           LEGAL FEES AND EXPENSES.

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

29.           SET OFF OR COUNTERCLAIM.

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

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

	
  

  	
   

  	
   

  	
  CARREKER CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  J. D. Carreker, Jr.

  
	
   

  	
   

  	
   

  	
  Chairman of the Board and

  
	
   

  	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John D. Carreker, III

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