Document:

Registration Rights Agreement

 Exhibit 10.21 
  
 REGISTRATION RIGHTS AGREEMENT 
  

REGISTRATION RIGHTS AGREEMENT (this “Registration Rights Agreement”), dated as of November 25, 2003, by and among Digital Insight
Corporation, a Delaware corporation (“Parent”), and each of the stockholders listed on the signature pages hereto (each an “Holder” and collectively, the “Holders”). 
  
 RECITALS 
  
 A. Parent, Mureau Acquisitions LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent
(“Merger Sub”), and Magnet Communications, Inc., a Delaware corporation (“Company”), have entered into an Agreement and Plan of Merger, dated as of October 23, 2003 (the “Merger Agreement”),
pursuant to which Company will be merged (the “Merger”) with and into Merger Sub. 
  
 B. Parent intends to issue shares of Parent Common Stock to the Holders in the Merger pursuant to an Exempt Offering. 
  
 C. Parent and the Holders are entering into this Registration Rights
Agreement for purposes of designating the registration rights of the Holders with respect to the Registrable Securities as required by the Merger Agreement. 
  
 NOW, THEREFORE, in consideration of the foregoing and the representations, warranties, covenants and agreements herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 I. DEFINITIONS 
  
 1.1 Certain Definitions. As used in this Registration Rights Agreement, the following terms shall have the following respective meanings. Any such
term, unless the context otherwise requires, may be used in the singular or the plural, depending upon reference. Terms used herein and not otherwise defined shall have the meaning set forth in the Merger Agreement. 
  
 “Commission” means the Securities and Exchange Commission.

  
 “Demand Registration” has the meaning as set
forth in Section 2.1(a). 
  
 “Exchange Act” means
the Securities Exchange Act of 1934, and the rules and regulations promulgated thereunder, as the same shall be amended from time to time. 
  
 “Holder” has the meaning set forth in the Preamble. 
  
 “Losses” has the meaning set forth in Section 4.1. 
  
 “Merger” has the meaning set forth in the Recitals.

  
 “Merger Agreement” has the meaning set forth
in the Recitals. 

 “Merger Sub” has the meaning set forth in the Recitals. 
  
 “Parent” has the meaning set forth in the Preamble.

  
 “Parent Common Stock” means the Common Stock,
par value $0.001 per share, of Parent. 
  
 “Person” means any individual, corporation (including not-for-profit), general or limited partnership, limited liability company, joint venture, estate, trust, association, organization, governmental entity or other entity
of any kind or nature. 
  
 “Registrable
Securities” means the shares of Parent Common Stock issued or issuable to the Holders pursuant to the Merger Agreement or obtained as a stock dividend or split thereon. As to any particular Registrable Securities, once issued, such
securities shall cease to be Registrable Securities when (i) a registration statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with
such registration statement, (ii) they shall be eligible for resale pursuant to Rule 144(k) (or any similar or successor provision) under the Securities Act, (iii) they shall have been otherwise transferred, new certificates for them that do not
bear a legend restricting further transfer shall have been delivered by Parent and subsequent public distribution of them shall not, in the opinion of counsel for the Holders, require registration of them under the Securities Act or (iv) they shall
have ceased to be outstanding. 
  
 “Registration
Expenses” means all expenses incident to Parent’s performance of or compliance with Section 2, including, without limitation, all registration and filing fees, all fees of the Nasdaq National Market, other national securities exchanges
or automated quotation systems or the National Association of Securities Dealers, Inc., all fees and expenses of complying with securities or blue sky laws, all word processing, duplicating and printing expenses, messenger and delivery expenses, the
fees and disbursements of counsel for Parent and of its independent public accountants, including the expenses of “comfort” letters required by or incident to such performance and compliance, any fees and disbursements of underwriters
customarily paid by issuers or sellers of securities (excluding any underwriting discounts or commissions with respect to the Registrable Securities) and the fees and expenses of one counsel to the Holders. 
  
 “Securities Act” means the Securities Act of 1933, and the
rules and regulations promulgated thereunder, as the same shall be amended from time to time. 
  
 II. REGISTRATION UNDER THE SECURITIES ACT 
  
 2.1 Demand Registration. 
  
 (a)
Filing and Effectiveness of Registration Statement. If, after the three-month anniversary of the Closing Date and prior to the date one year after the date of this Registration Rights Agreement (subject to extension pursuant to Section
2.3 below), Parent shall receive a written request or requests from Holders representing not less than one-third of the Registrable Securities (the “Initiating Holders”) that Parent effect a registration of all or any portion of the
Registrable Securities, Parent shall (x) give notice of such election within 30 days after receipt of 
  

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 the Initiating Holders’ notice to each other Holder of Registrable Securities, which notice shall set forth the
identity of the Initiating Holder(s) requesting such registration, and such Holders shall have the right, by giving written notice to Parent within 30 days after Parent provides its notice, to elect to have included in such registration such of
their Registrable Securities as such Holders may request in such notice of election and (y) use reasonable best efforts to cause to be declared or become effective under the Securities Act a registration statement with respect to all Registrable
Securities requested to be registered by the Initiating Holders and other Holders (the “Demand Registration”). Parent shall not be obligated to effect any such registration pursuant to this Section 2.1(a) on more than one occasion
and Parent shall not be obligated to effect any underwritten offering in connection with the Demand Registration. Notwithstanding anything to the contrary contained herein, Parent shall not be obligated to effect the Demand Registration: (i) if the
Holders propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public of less than $5.0 million; or (ii) in any jurisdiction in which Parent would be required to qualify to do business or to execute a
general consent to service of process in effecting such registration, qualification or compliance as a result of the provisions in this Section 2.1(a). 
  
 (b) Supplements and Amendments; Expenses. Parent shall supplement or amend, if necessary, any registration statement used in connection with
the Demand Registration, as required by the instructions applicable to such registration form or by the Securities Act or as reasonably requested by any of the Holders of the Registrable Securities and Parent shall furnish to the Holders of
Registrable Securities, to which the Demand Registration relates, copies of any such supplement or amendment concurrently with its being filed with the Commission. Parent shall pay all Registration Expenses in connection with the Demand
Registration, whether or not it becomes effective, and whether all, none or some of the Registrable Securities are sold pursuant to the Demand Registration. 
  
 (c) Right to Demand Registration. Parent’s obligation to use reasonable best efforts to cause to be declared or become effective under
the Securities Act a registration statement with respect to such Registrable Securities shall be triggered only once by Holders representing not less than one-third of the Registrable Securities. 
  
 2.2 “Piggyback” Registrations. 
  
 (a) Right to Include Registrable Securities. If, at any time
prior to the date one year after the date of this Registration Rights Agreement, Parent proposes to register any shares of Parent Common Stock under the Securities Act on a registration statement on any form other than a Form S-4 or Form S-8 (or an
equivalent general registration form then in effect) for purposes of an offering or sale by or on behalf of Parent for its own account or for purposes of a combined primary and secondary offering, then each such time Parent shall, at least 15 days
prior to the time when any such registration statement is filed with the Commission, give prompt written notice to the Holders of its intention to do so and of such Holders’ rights under this Section 2.2. Upon the written request of any Holder,
given within ten business days following the receipt of any such written notice, Parent will use its reasonable best efforts to include such Holder’s Registrable Securities with respect to which it has requested registration in such
registration statement; provided, however, that if, at any time after giving written notice of its intention to register any securities and prior to the effective date of the registration statement 
  

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 filed in connection with such registration, Parent shall determine for any reason not to register or to delay
registration of such securities, Parent shall give written notice of such determination to each Holder of Registrable Securities and (i) in the case of a determination not to register, shall be relieved of its obligation to register any Registrable
Securities in connection with such registration (but not from any obligation of Parent to pay the Registration Expenses in connection therewith and its obligations under this Section 2.2), and (ii) in the case of a determination to delay
registering, shall be permitted to delay registering any Registrable Securities, for the same period as the delay in registering such other securities. Notwithstanding the foregoing, the Holders shall not have any right under this Section 2.2 if the
registration proposed to be effected by Parent relates solely to shares of Parent Common Stock that are issuable solely to officers or employees of Parent or any subsidiary thereof pursuant to a bona fide employee stock option, bonus or other
employee benefit plan or as direct consideration in connection with a merger, exchange offer or acquisition of a business. 
  
 (b) Priority in Incidental Registrations. If the managing underwriter of any underwritten offering shall inform Parent that the number or
type of securities requested to be included in such registration would in its judgment adversely affect such offering in any material respect, and Parent has so advised the Holders in writing, then Parent will include in such registration, to the
extent of the number and type that Parent is so advised can be sold in (or during the time of) such offering, first, all securities proposed by Parent to be sold for its own account, and then, pro rata, shares of the Registrable Securities requested
to be included in such registration pursuant to this Section 2.2 along with all other securities proposed to be registered, as according to their original subscription to the offering. 
  
 (c) Expenses. Parent will pay all Registration Expenses (except for any underwriting commissions or discounts)
in connection with any registration effected pursuant to this Section 2.2. 
  
 2.3 Limitations, Conditions and Qualifications to Obligations under Registration Covenants. Anything in this Registration Rights Agreement to the contrary notwithstanding, it is understood and agreed that
Parent shall not be required to file a registration statement or any amendment or post-effective amendment thereto or prospectus supplement or to supplement or amend any registration statement if Parent is then involved in discussions concerning, or
is otherwise engaged in, any financing, acquisition or investment transaction, if the board of directors of Parent determines in good faith that the making of such a filing, supplement, amendment or post-effective amendment at such time would be
detrimental to Parent and its stockholders or would interfere with such transaction so long as Parent shall, as soon as practicable thereafter, make such filing, supplement, amendment or post-effective amendment; provided, however,
that Parent shall not postpone such filing, supplement, amendment or post-effective amendment for more than an aggregate of 60 days from the receipt of the demand notice from the Initiating Holders; provided, further, that Parent shall
not exercise such right to defer filing more often than once in any 12-month period. Parent shall promptly give the Holders written notice of any such postponement, containing a general statement of the reasons for such postponement and an
approximate length of the anticipated delay. Upon receipt by a Holder of notice of an event of the kind described in this Section 2.3, such Holder shall forthwith discontinue such Holder’s disposition of Registrable Securities until such
Holder’s receipt of notice from Parent that such disposition may continue and of any supplemented or amended 
  

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 prospectus indicated in such notice. Should Parent postpone any filing, supplement, amendment or post-effective amendment
pursuant to the provisions of this Section 2.3, then (i) the one-year period for submission of Demand Registration requests referenced in Section 2.1(a), (ii) the one-year period referenced in Section 2.2(a), and (iii) the term of this Agreement,
each shall be automatically extended for a period equal to such postponement (and any successive postponement shall be cumulative). 
  
 III. REGISTRATION PROCEDURES 
  
 3.1 Registration Procedures. In effecting the registration of any Registrable Securities under the Securities Act as provided in Sections 2.1 and
2.2, Parent will, unless provided otherwise in this Registration Rights Agreement, as expeditiously as possible: 
  
 (a) before filing with the Commission the requisite registration statement to effect such registration or any amendments or supplements (other than
supplements that do nothing more substantive than name one or more Holders as selling security holders) thereto, furnish to one counsel selected by the Holders of a majority of the Registrable Securities covered by such registration statement copies
of all such documents proposed to be filed and use reasonable efforts to reflect in each such document when so filed with the Commission such comments as such counsel shall reasonably propose within two business days of the delivery of such copies
to such counsel; 
  
 (b) prepare and file, no later than 30 days
after request, with the Commission the requisite registration statement to effect such registration, and thereafter use its reasonable best efforts to cause such registration statement to become effective and remain effective, in the case of a
registration pursuant to Section 2.1, until the one-year anniversary of the date that such registration shall first be declared effective; provided, however, that Parent may discontinue any registration of its securities that are not
Registrable Securities (and, under the circumstances specified in Section 2.2(a), its securities that are Registrable Securities) at any time prior to the effective date of the registration statement relating thereto; 
  
 (c) promptly notify each Holder of Registrable Securities covered by such
registration statement if and when (i) such registration statement and any post-effective amendment thereto become effective, (ii) any supplement (other than supplements that do nothing more substantive than name one or more Holders as selling
security holders) to the prospectus forming a part of such registration statement is filed and (iii) any stop order issued or threatened by the Commission with respect to such registration statement; 
  
 (d) prepare and file with the Commission such amendments and supplements to
such registration statement and the prospectus used in connection therewith as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such registration statement
and take all reasonable actions required to prevent the entry of any stop order with respect to such registration statement or to obtain the withdrawal of such order if entered; 
  
 (e) furnish to each seller of Registrable Securities covered by such registration statement, such number of conformed copies
of such registration statement and of each such 
  

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 amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained
in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act and each such amendment and supplement thereto, in conformity with the
requirements of the Securities Act, and such other documents, as such seller may reasonably request; 
  
 (f) use reasonable best efforts (x) to register or qualify all Registrable Securities covered by such registration statement under such other securities
or blue sky laws of such States of the United States of America where an exemption is not available and as the sellers of Registrable Securities covered by such registration statement shall reasonably request, (y) to keep such registration or
qualification in effect for so long as such registration statement remains in effect and (z) to take such other action that may be reasonably necessary to enable such sellers to consummate the disposition in such jurisdictions of the Registrable
Securities to be sold by such sellers, except that Parent shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this subparagraph
(f) be obligated to be so qualified or to consent to general service of process in any such jurisdiction; 
  
 (g) use reasonable best efforts to cause all Registrable Securities covered by such registration statement to be registered with or approved by such other
federal or state governmental agencies or authorities as may reasonably be necessary in the opinion of counsel to Parent to enable the selling Holder or Holders to consummate the disposition of such Registrable Securities; 
  
 (h) in the case of an underwritten or “best efforts” offering
initiated by Parent, furnish at the effective date of such registration statement to each Holder’s underwriters, if any, a signed counterpart of: 
  
 (i) an opinion of counsel for Parent, dated the effective date of such registration statement and, if applicable, the date of the closing under the
underwriting agreement, covering substantially the same matters with respect to such registration statement (and the prospectus included therein) as are customarily covered in opinions of issuer’s counsel delivered to the underwriters in
underwritten public offerings of securities and such other legal matters as the underwriters may reasonably request, and 
  
 (ii) a “comfort” letter signed by the independent public accountants who have certified Parent’s financial statements included or
incorporated by reference in such registration statement, covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and with respect to events subsequent to the date of such financial
statements as are customarily covered in accountants’ comfort letters delivered to the underwriters in underwritten public offerings of securities and such other financial matters as the underwriters may reasonably request; 
  
 (i) notify each Holder of Registrable Securities covered by such registration
statement, at any time when a prospectus relating thereto is required to be delivered under the 
  

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 Securities Act, upon discovery that, or upon the happening of any event (including those events referred to in Section
2.3) as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances under which they were made, and promptly prepare and furnish to each such Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary
so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances under which they were made; provided, however, that Parent shall not be required, pursuant to this Section 3.1(i), to disclose to the Holders of Registrable Securities any non-public
information that it is not, whether pursuant to this Registration Rights Agreement or any other agreement, otherwise obligated to disclose to such Holders; 
  
 (j) otherwise use reasonable best efforts to comply with all applicable rules and regulations of the Commission, and, if required, make available to its
security holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first full calendar month after the effective date of such registration statement,
which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder; 
  
 (k) provide and cause to be maintained a transfer agent and registrar (which, in each case, may be Parent) for all Registrable Securities covered by such
registration statement from and after a date not later than the effective date of such registration; and 
  
 (l) use reasonable best efforts to list, if Parent meets the applicable listing requirements, all Registrable Securities covered by such registration
statement on the Nasdaq Stock Market of the National Market System or any national securities exchange or automated quotation system where Parent Common Stock is currently traded. 
  
 Parent may require each Holder as to which any registration is being effected to promptly furnish Parent such information
regarding such Holder and the distribution of such Registrable Securities as Parent may from time to time reasonably request in writing, and each such Holder agrees to furnish promptly to Parent all information required to be disclosed in order to
make the information previously furnished to Parent by such Holder not materially misleading; provided, however, that any such information shall be given or made by a Holder without representation or warranty of any kind whatsoever
except representations with respect to the identity of such Holder, such Holder’s Registrable Securities and such Holder’s intended method of distribution or any other representations required by applicable law. 
  
 Each Holder agrees by acquisition of such Registrable Securities that, upon
receipt of any notice from Parent of the happening of any event of the kind described in Section 3.1(i), such Holder will forthwith discontinue such Holder’s disposition of Registrable Securities pursuant to the registration statement relating
to such Registrable Securities until such Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.1(i) and, if so directed by Parent, will deliver to Parent (at Parent’s expense) all copies, other
than permanent file copies, then in such Holder’s possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. 
  

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 3.2 Underwritten Offerings. 
  
 (a) Incidental Underwritten Offerings. If Parent proposes to register any of its securities under the
Securities Act as contemplated by Section 2.2 and such securities are to be distributed by or through one or more underwriters, Parent will, if requested by any Holder of Registrable Securities, use its reasonable best efforts to arrange for such
underwriters to include all the Registrable Securities to be offered and sold by such Requesting Holder among the securities of Parent to be distributed by such underwriters, subject to the provisions of Section 2.2(b). The Holders of Registrable
Securities to be distributed by such underwriters shall be parties to the underwriting agreement between Parent and such underwriters. No Holder shall be required to make any representations or warranties to, or agreements with, Parent or the
underwriters other than representations, warranties or agreements regarding the identity of such Holder, such Holder’s Registrable Securities and such Holder’s intended method of distribution or any other representations required by
applicable law. 
  
 (b) Underwriting Discounts and
Commissions. The Holders of Registrable Securities sold in any offering pursuant to Section 3.2(a) shall pay all underwriting discounts and commissions of the underwriter or underwriters with respect to the Registrable Securities sold
thereby. 
  
 3.3 Preparation; Reasonable Investigation. In
connection with the preparation and filing of each registration statement under the Securities Act pursuant to this Registration Rights Agreement, Parent will give the Holders of Registrable Securities registered under such registration statement,
their underwriters, if any, and their respective counsel the opportunity to participate in the preparation of such registration statement and each prospectus included therein or filed with the Commission, and each amendment thereof or supplement
thereto, and will give each of them such reasonable access to its books and records and such opportunities to discuss the business of Parent with its officers and the independent public accountants who have certified its financial statements as
shall be necessary, in the opinion of such Holders’ and such underwriters’ respective counsel, to conduct a reasonable investigation within the meaning of the Securities Act. 
  
 IV. INDEMNIFICATION 
  
 4.1 Indemnification by Parent. Parent will, and hereby does, agree to indemnify and hold harmless, in the case of any registration statement filed
pursuant to Section 2.1 or 2.2, each Holder of any Registrable Securities covered by such registration statement and each other Person, if any, who controls such Holder within the meaning of the Securities Act, and each of their respective
directors, officers, trustees, partners, members, agents, representatives and affiliates, and agrees to enter into customary agreements to indemnify and hold harmless each other Person who participates as an underwriter in the offering or sale of
such Registrable Securities and each other Person, if any, who controls such underwriter within the meaning of the Securities Act, and their respective directors, officers, trustees, partners, members, agents, representatives and affiliates, against
any losses, claims, damages or liabilities, joint or several 
  

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 (“Losses”), to which such Holder or underwriter or any such director, officer, trustee, partner, member,
agent, representative, affiliate or controlling Person may become subject under the Securities Act or otherwise, including, without limitation, the reasonable fees and expenses of legal counsel (including those incurred in connection with any
successful claim for indemnity hereunder) and any amount paid in settlement of any litigation commenced or threatened, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities were registered under the Securities Act, any preliminary prospectus, final prospectus or
summary prospectus contained therein, or any amendment or supplement thereto, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein in light of the
circumstances in which they were made not misleading, and Parent will reimburse such Holder or underwriter and each such director, officer, trustee, partner, member, agent, representative, affiliate and controlling Person for any legal or any other
expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, liability, action or proceeding; provided, however, that Parent shall not be liable in any such case to the extent that any such
Loss (or action or proceeding in respect thereof) or expense arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, any such preliminary prospectus, final
prospectus, summary prospectus, amendment or supplement in reliance upon and in conformity with written information furnished to Parent by or on behalf of such Holder or underwriter, as the case may be, expressly for use in the preparation thereof;
provided, further, however, that Parent shall not be liable to any Person who participates as an underwriter in the offering or sale of Registrable Securities or any other Person, if any, who controls such underwriter within the
meaning of the Securities Act, in any such case to the extent that any such Loss (or action or proceeding in respect thereof) or expense arises out of such Person’s failure to send or give a copy of the final prospectus, as the same may be then
supplemented or amended, to the Person asserting an untrue statement or alleged untrue statement or omission or alleged omission at or prior to the written confirmation of the sale of Registrable Securities to such Person if such statement or
omission was corrected in such final prospectus. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any such director, officer, trustee, partner, member, agent, representative,
affiliate or controlling Person and shall survive the transfer of such Registrable Securities by such Holder. 
  
 4.2 Indemnification by the Sellers. As a condition to including any Registrable Securities in any registration statement, Parent shall have
received an undertaking satisfactory to it from the prospective seller of such Registrable Securities, to indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 4.1) Parent, each director and officer of
Parent, and each other Person, if any, who participates as an underwriter in the offering or sale of such Registrable Securities and each other Person who controls Parent or any such underwriter within the meaning of the Securities Act, against any
Losses (or actions or proceedings in respect thereof) to which Parent or any such underwriter may become subject under the Securities Act or otherwise, insofar as such Losses (or actions or proceedings in respect thereof) arise out of or are based
on any untrue statement or alleged untrue statement of any material fact contained in any such registration statement, any preliminary prospectus, final prospectus or summary prospectus contained therein, or any amendment or supplement thereto, or
any omission or alleged omission to state a material fact therein required to be stated therein 
  

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 or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such
statement or alleged statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to Parent by or on behalf of such Holder expressly for use in the preparation of such registration
statement, preliminary prospectus, final prospectus, summary prospectus, amendment or supplement. Such indemnity shall remain in full force and effect, regardless of any investigation made by or on behalf of Parent or any such director, officer or
controlling Person and shall survive the transfer of such Registrable Securities by such Holder. In no event will any Holder be liable for amounts in excess of the net proceeds received from the sale of its Registrable Securities in the subject
offering. 
  
 4.3 Notices of Claims; Counsel. Promptly
after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in Section 4.1 or Section 4.2, such indemnified party will, if a claim in respect thereof is to be made against an
indemnifying party, give written notice to such indemnifying party of the commencement of such action or proceeding; provided, however, that the failure of any indemnified party to give notice as provided herein shall not relieve the
indemnifying party of its obligations under Section 4.1 or Section 4.2, as the case may be, except to the extent that such indemnifying party is actually prejudiced by such failure to give notice. In case any such action or proceeding shall be
brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to the extent that it may wish, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party; provided, however, that any indemnified party may, at its own expense, retain separate counsel to participate in such defense. Notwithstanding the foregoing, in any action or
proceeding in which both the indemnifying party and an indemnified party is, or is reasonably likely to become, a party, such indemnified party shall have the right to employ separate counsel at the indemnifying party’s expense and to control
its own defense of such action or proceeding if, in the reasonable opinion of counsel to such indemnified party (a) there are or may be legal defenses available to such indemnified party or to other indemnified parties that are different from or
additional to those available to the indemnifying party and (b) any conflict or potential conflict exists between the indemnifying party and such indemnified party that would make such separate representation advisable, and in that event the fees
and expenses of one such separate counsel for all such indemnified parties shall be paid by the indemnifying party. The indemnifying party shall not be liable for any settlement of any action or proceeding effected without its written consent, which
consent shall not be unreasonably withheld. The indemnifying party shall not, without consent of the indemnified party, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving
by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such action or proceeding or which requires action other than the payment of money by such indemnifying party. 
  
 4.4 Contribution. If the indemnification provided for in this Section
IV shall for any reason be held by a court to be unavailable to an indemnified party under Section 4.1 or Section 4.2 in respect of any Losses, or any action or proceeding in respect thereof, then, in lieu of the amount paid or payable under Section
4.1 or Section 4.2, the indemnified party and the indemnifying party under Section 4.1 or Section 4.2 shall contribute to the aggregate Losses (including legal or other expenses reasonably incurred in connection with investigating the same,

  

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 including those incurred in connection with any claim for indemnity hereunder) (i) in such proportion as is appropriate
to reflect the relative fault of Parent and the prospective sellers of Registrable Securities covered by the registration statement which resulted in such Losses, or action or proceeding in respect thereof, with respect to the statements or
omissions which resulted in such Losses, or action or proceeding in respect thereof, as well as any other relevant equitable considerations or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion
as shall be appropriate to reflect the relative benefits received by Parent and such prospective sellers from the offering of the securities covered by such registration statement. The relative fault of Parent shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by Parent or the holders of the Registrable Securities and all other
securities covered by such registration statement, if any, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. Such prospective sellers’ obligations to contribute as
provided in this Section 4.4 are several in proportion to the relative value of their respective Registrable Securities covered by such registration statement and not joint. In addition, no Person shall be obligated to contribute hereunder any
amounts in payment for any settlement of any action or proceeding effected without such Person’s consent, which consent shall not be unreasonably withheld. 
  

4.5 Other Indemnification. Indemnification and contribution similar to that specified in the preceding paragraphs of this Section IV (with
appropriate modifications) shall be given by Parent and each seller of Registrable Securities with respect to any required registration or other qualification of securities under any federal or state law or regulation of any governmental authority
other than the Securities Act. 
  
 4.6 Indemnification
Payments. The indemnification and contribution to the extent required by this Section IV shall be made by periodic payments of the amounts thereof during the course of the investigation or defense, as and when bills are received or expense,
loss, damage or liability is incurred; provided that such amounts shall be refunded immediately to the extent it is finally judicially determined that the indemnified party was not entitled to indemnification or contribution under this Section IV.

  
 V. RULE 144 
  
 5.1 Rule 144. Parent shall use reasonable best efforts to enable
Holders to sell such securities without registration under the Securities Act within the limitation of the provisions of Rule 144 under the Securities Act, as such rule may be amended from time to time, or any similar rules or regulations hereafter
adopted by the Commission. Upon the request of any Holder, Parent will deliver to such Holder a written statement as to whether it has complied with such requirements. 
  

 11 

 VI. MISCELLANEOUS. 
  
 6.1 Notices. Any notice, request, instruction or other document to be given hereunder by any party to the others
shall be in writing and delivered personally or sent by express mail or equivalent over-night courier service, prepaid, or by facsimile: 
  
 If to Parent, to: 
  
 Digital Insight Corporation 
 26025 Mureau
Road 
 Calabasas, California 91302 
 Attention: General Counsel 
 Facsimile: (818) 871-0833 
  
 with a copy (not constituting notice) to: 
  
 Sullivan & Cromwell LLP 
 1888 Century Park East 
 Los Angeles, California 90067 
 Attention: Steven B. Stokdyk 
 Facsimile:
(310) 712-8800 
  
 If to any Holder, to the address noted on the
signature page for such Holder hereto. 
  
 6.2 Assignment.
This Registration Rights Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and, with respect to Parent, its respective successors and permitted assigns and, with respect to any Holder, such
Holder’s respective affiliates, successors and permitted assigns. 
  
 6.3 Nominees for Beneficial Owners. In the event that any Registrable Securities are held by a nominee for the beneficial owner thereof, the beneficial owner thereof may, at its election in writing delivered to Parent, be treated as
the Holder of such Registrable Securities for purposes of any request or other action by any Holder or Holders pursuant to this Registration Rights Agreement or any determination of any percentage of Registrable Securities held by any Holder or
Holders contemplated by this Registration Rights Agreement. If the beneficial owner of any Registrable Securities so elects, Parent may require assurances reasonably satisfactory to it of such owner’s beneficial ownership of such Registrable
Securities. 
  
 6.4 Term of Agreement; Survival. This
Registration Rights Agreement shall continue in force and effect until the date 24 months from the date of this Registration Rights Agreement, subject to extension pursuant to Section 2.3 hereof; provided, however, that Section 5.1
shall continue in force and effect until the date two and one-half years from the date of this Registration Rights Agreement. The respective indemnities, agreements, representations, warranties and each other provision set forth in this Registration
Rights Agreement or made pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any Holder, any director, officer, partner or employee of any Holder, any
agent or underwriter or any director, officer, partner or employee thereof, or any controlling person of any of the foregoing. 
  

 12 

 6.5 No Inconsistent Agreements. Parent will not hereafter enter into any material agreement with
respect to its securities that is materially inconsistent with or violates in any material respect the rights granted to the Holders in this Registration Rights Agreement. 
  
 6.6 Severability. The provisions of this Registration Rights Agreement shall be deemed severable and the invalidity
or unenforceability of any provision shall not affect the validity or enforceability or the other provisions hereof. If any provision of this Registration Rights Agreement, or the application thereof to any Person or any circumstance, is invalid or
unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this
Registration Rights Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability
of such provision, or the application thereof, in any other jurisdiction. 
  
 6.7 GOVERNING LAW. THIS REGISTRATION RIGHTS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PROVISIONS THEREOF.

  
 6.8 Entire Agreement. This Registration Rights
Agreement and the other writings referred to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. This Registration Rights Agreement supersedes all prior
agreements and understandings between the parties with respect to its subject matter. 
  
 6.9 Amendments and Waivers. Except as otherwise provided herein, the provisions of this Registration Rights Agreement may be amended and Parent may take action herein prohibited, or omit to perform any act
herein required to be performed by it, if, but only if, Parent has obtained the written consent of Holders holding at least a majority of the Registrable Securities then in existence. 
  
 6.10 Counterparts. This Registration Rights Agreement may be executed in any number of counterparts, each such
counterpart being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement. 
  
 [Signature Page Follows] 
  

 13 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement as of the date
first above written. 
  

			
	 DIGITAL INSIGHT CORPORATION

		
	 By:
	 	 /s/ Jeff Stiefler

	 	 	 Jeff Stiefler

	 	 	 Chief Executive Officer

  
 [Signature Page
to Registration Rights Agreement] 

			
	 HOLDER

	
	
 (Name of Entity)

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 Address for Notices:

	  

	  

	  

	  

  
 [Signature Page
to Registration Rights Agreement] 

	
	 HOLDER

	
	
 (Signature of Individual Holder)

	
	 Name:

	
	 Address for Notices:

	  

	  

	  

	  

  
 [Signature Page
to Registration Rights Agreement]Employment Agreement

 Exhibit 10.23 
  
 EMPLOYMENT AGREEMENT 
  

This Employment Agreement (this “Agreement”) is entered into as of September 11, 2003 (the “Effective Date”), by and
between John Dorman (the “Executive”) and Digital Insight Corporation, a Delaware corporation (the “Company”). 
  
 RECITALS 
  
 The Executive and the Company entered into a letter agreement dated September 2, 1998 (the “Prior Agreement”), pursuant to which the
Executive became the Company’s Chief Executive Officer on October 1, 1998. As of the September 8, 2003 (“Transition Date”), the Executive ceased to be the Chief Executive Officer of the Company. Nevertheless, the Company desires that
the Executive continue to be employed by the Company on a full-time basis in the capacity described below from the Transition Date through December 31, 2004, on the terms and conditions hereinafter set forth, and the Executive is willing to accept
such employment during that period of time on such terms and conditions. Accordingly the Company and the Executive desire to set forth the terms and conditions of such continued employment in this Agreement, which shall completely and totally
supersede the Prior Agreement. 
  
 AGREEMENT 
  
 The Executive and the Company agree as follows: 
  

	1.	Duties. 

  

	1.1	Retention. The Company does hereby engage, reassign and employ the Executive in a special non-officer position with the title Transition Advisor,
reporting to the Chief Executive Officer of the Company (the “Chief Executive Officer”), and the Executive does hereby accept and agree to such engagement, reassignment and employment, effective as of the Transition Date. The
Executive shall have the duties, responsibilities and authorities as determined and assigned by the Chief Executive Officer in his or her discretion from time to time, including advising the Chief Executive Officer with respect to business
development, corporate strategy and planning and other special projects, and any other reasonable duties determined by the Chief Executive Officer. 

  

	1.2	No Other Employment. During the Executive’s employment by the Company, the Executive shall devote substantially all of his business time, energy, and skill to the
performance of his duties for the Company. 

  

	1.3	No Breach of Contract. The Executive hereby represents to the Company that the execution and delivery of this Agreement by the Executive and the Company and the
performance by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any employment or other agreement or policy to which the Executive is a party or otherwise bound. The
Company hereby represents to the Executive that it is authorized to enter into this Agreement and that the execution and delivery of this Agreement to the Executive and the employment of the Executive hereunder shall not constitute a breach of, or
otherwise contravene, the terms of any law, agreement or policy by which it is bound. 

	2.	Term of Employment. 

  
 Executive’s employment with the Company under this Agreement shall commence as of the Transition Date and shall terminate on December 31, 2004 (the
“Expiration Date”), unless terminated earlier by the Company or the Executive pursuant to Sections 5, 6 or 7 (the “Term”). 
  

	3.	Compensation. 

  

	3.1	Base Salary. The Executive’s Base Salary shall continue at a rate of $30,833.33 monthly, paid in accordance with the Company’s regular payroll
practices in effect from time to time, but not less frequently than monthly. 

  

	3.2	Annual Bonus. For calendar year 2003 Executive shall be eligible to participate in, and receive his bonuses under, the 2003 executive management incentive program
subject to the terms therein, including his individual performance goals and payouts, and without setoff or reduction by virtue of this Agreement or change in title, except to the extent required under that memorandum from Michael Hallman to you
dated May 15, 2003. The target bonus for calendar year 2003 will be an amount equal to 60% of Executive’s Base Salary. The Executive agrees that he shall be paid no bonus for the calendar year 2004. 

  

	3.3	Equity Compensation. 

  

	 	3.3.1	Current Options. 

  

	 	(i)	Option Grant Dated April 26, 2000. The Stock Option Agreement for the April 26, 2000 grant to the Executive of an option to purchase 37,500 shares of the
Company’s common stock at an exercise price of $35.00 per share is hereby amended to extend the period following the Executive’s termination of employment with the Company during which such option may be exercised from three (3) months to
two (2) years. 

  

	 	(ii)	 Option Grants Dated May 4, 2001 and May 28, 2002. Provided that the Executive remains employed by the Company through the Qualifying Date (defined
below) and executes and delivers a release in a form satisfactory to the Company, the Company agrees that the Stock Option Agreements each dated May 4, 2001 with the Executive for options to purchase an aggregate of 75,000 shares of the
Company’s common stock at an exercise price of $13.23 per share (the “2001 Options”) and the Stock Option Agreement dated May 28, 2002 with the Executive for options to purchase 100,000 shares of the Company’s common stock at an
exercise price of $14.15 per share (the “2002 Option”) are amended to provide that the 2001 Options and the 2002 Option shall become fully exercisable effective on December 31, 2004. The “Qualifying Date” shall 

  

 2 

	 	 
mean the earliest of: (A) the Expiration Date, (B) the date of the Executive’s Death or Disability as set forth in Section 5, or (C) the effective date
of the Executive’s termination upon (I) a termination without Cause by the Company as set forth in Section 6, or (II) a termination with Good Reason by the Executive as set forth in Section 7. The remaining terms of the Stock Option Agreements
for the 2001 Options and the 2002 Option, including without limitation, the post-termination exercise period provisions, shall not be affected or changed by this Agreement. 

  

	 	3.3.2	No Subsequent Option Grants. The Executive will not be eligible for any additional grants of stock options. 

  

	4.	Benefits. 

  

	4.1	Pension, Health and Welfare. While the Executive is employed hereunder, he shall be entitled to participate in all employee pension, health and welfare benefit plans
and programs made available to the Company’s senior level executives or to its employees generally, as such plans or programs may be in effect from time to time. 

  

	4.2	Reimbursement of Business Expenses 

  
 The Executive is authorized to incur reasonable expenses in carrying out his duties and responsibilities under this Agreement and the Company shall
promptly reimburse him for all business expenses incurred in connection with carrying out the business of the Company, subject to documentation in accordance with the Company’s expense reporting policy. 
  

	4.3	Vacation. The Executive will be exempt from the normal limits on vacation and paid time off that are defined in the Company’s policies in its Employee
Handbook, and the Company will not accrue vacation or paid time off for the Executive. The Executive may take as much time off as needed at his own discretion, subject only to the approval of the Chief Executive Officer which shall not be
unreasonably withheld or delayed. 

  

	5.	Death or Disability. 

  

	5.1	Definition of Disabled and Disability. For purposes of this Agreement, the terms “Disabled” and “Disability” shall mean the
Executive’s inability, because of physical or mental illness or injury, to perform his customary duties pursuant to this Agreement, with or without reasonable accommodation, and the continuation of such disabled condition for a period of one
hundred eighty (180) continuous days as determined by an approved medical doctor. For purposes hereof, an approved medical doctor shall mean a doctor selected by the Company and the Executive. If the Company and the Executive cannot agree on a
medical doctor, each shall select a medical doctor and the two doctors shall select a third who shall be the approved medical doctor for this purpose. 

  

	5.2	 Termination Due to Death or Disability. If the Executive dies or becomes Disabled while employed hereunder, this Agreement and the
Executive’s employment shall 

  

 3 

	 	 
automatically cease and terminate as of the date of the Executive’s death or the date of Disability (which date shall be determined under Section 5.1
above, and referred to as the “Disability Date”), as the case may be. In the event of the termination of the Executive’s employment due to his death or Disability, the Executive (or, in the event of his death, his estate) shall
be entitled to receive: 

  

	 	(i)	a lump sum cash payment, payable within ten (10) business days after the date of death or the Disability Date, equal to the sum of (A) any accrued but unpaid Base Salary through the
later of (I) the date of death or the Disability Date or (II) December 31, 2003, and (B) the bonus described in Section 3.2 for 2003 if not paid prior to the date of death or the Disability Date; and 

  

	 	(ii)	such employee benefits described in Section 4.1 as the Executive or his estate may be entitled to hereunder or under the employee benefit plans, programs and arrangements of the
Company. 

  

	6.	Termination by the Company. 

  

	6.1	Termination For Cause. 

  

	 	6.1.1	Definition of Termination with Cause. A termination of the Executive’s employment by the Company for cause (“Cause”) shall mean the
termination of the Executive’s employment by the Chief Executive Officer for any of the reasons listed below but, except in the case of the reason set forth in (v) below, only after written notice by the Chief Executive Officer stating the
reason for the proposed termination for Cause and the Executive’s failure to cure within thirty (30) days of receipt of such notice: 

  

	 	(i)	any act of misconduct in the performance of the Executive’s duties that is intended to result in, or does result in, (A) his substantial personal enrichment or (B) material
injury to the Company; 

  

	 	(ii)	dishonesty by the Executive in the performance of the Executive’s duties that is intended to result in, or does result in, (A) his substantial personal enrichment or (B)
material injury to the Company; 

  

	 	(iii)	any willful failure by the Executive to attend to his duties under this Agreement; 

  

	 	(iv)	any material breach of this Agreement; or 

  

	 	(v)	the Executive’s conviction of or pleading guilty or nolo contendere to any felony or misdemeanor involving, theft, embezzlement, dishonesty or moral turpitude.

  

	 	6.1.2	 Entitlements and Obligations Upon a Termination for Cause. If the Executive’s employment is terminated for Cause, the termination shall be
effective on the last day of the thirty-day cure period, except in the case of a termination for the reason described in Section 6.1.1(v), in which case the termination shall be effective on 

  

 4 

	 	 
the date the Company gives the Executive written notice of termination. In the event of the termination of the Executive’s employment hereunder due to a
termination by the Company for Cause, then the Executive shall resign and shall be deemed to have resigned from the Board of Directors if he is then serving as a director, and the Executive shall be entitled to receive: 

 

	 	(i)	a lump sum cash payment, payable within ten (10) business days after the date of termination of the Executive’s employment, equal to the amount of any accrued but unpaid Base
Salary as of the date of such termination; and 

  

	 	(ii)	such employee benefits described in Section 4.1 as the Executive or his estate may be entitled to hereunder or under the employee benefit plans, programs and arrangements of the
Company. 

  

	6.2	Termination Without Cause. If the Executive’s employment is terminated by the Company without Cause, the termination shall be effective on the thirtieth
(30th) day following written notice of such termination to the Executive. In the event of such termination without
Cause, then, subject to the Executive’s execution and delivery of a release in a form acceptable to the Company, the Executive shall be entitled to: 

  

	 	(i)	a lump sum cash payment, payable within ten (10) business days after the date of termination of the Executive’s employment, equal to the sum of (A) any accrued but unpaid Base
Salary as of the date of such termination and (B) the bonus described in Section 3.2 for 2003 if not paid prior to such termination; 

  

	 	(ii)	a monthly severance payment in each month following the date of the Executive’s termination of employment through December of 2004, the amount of each such payment to equal the
Executive’s monthly Base Salary; 

  

	 	(iii)	such employee benefits described in Section 4.1 as the Executive or his estate may be entitled to hereunder or under the employee benefit plans, programs and arrangements of the
Company; and 

  

	 	(iv)	acceleration of the vesting of the 2001 Options and the 2002 Option on December 31, 2004 as set forth in Section 3.3.1(ii). 

  

	7.	Termination by the Executive. 

  

	7.1	Termination Without Good Reason. If the Executive voluntarily terminates his employment with the Company without Good Reason, the termination shall be effective
at the end of the thirty-day notice period. If the termination of employment is without Good Reason, then the Executive shall promptly resign and shall be deemed to have resigned from the Board of Directors if he is then serving as a director, and
the Executive shall have the same entitlements as provided in Section 6.1.2 in the case of a termination by the Company for Cause. 

  

 5 

	7.2	Termination With Good Reason. 

  

	 	7.2.1	Definition of Good Reason. For purposes of this Agreement, “Good Reason” shall mean any reduction in the level of the Executive’s monthly base
salary, unless all executives take a cut in base salary in equal or greater proportions. 

  

	 	7.2.2	Entitlements Upon a Termination with Good Reason. If the Executive terminates his employment with Good Reason, the termination shall be effective at the end of the
thirty-day cure period. Upon such termination of his employment with Good Reason in accordance with Section 7.2.1 hereof, the Executive shall, subject to the Executive’s execution of a release in a form acceptable to the Company, have the same
entitlements as provided under Section 6.2 for a termination by the Company without Cause. 

  

	8.	Non-Competition. 

  
 The Executive acknowledges and recognizes the highly competitive nature of the businesses of the Company, the amount of sensitive and confidential
information involved in the discharge of his former and present positions with the Company, and the harm to the Company that would result if such knowledge or expertise was disclosed or made available to a competitor, and accordingly agrees that
during the period that he is receiving payments under this Agreement, he shall not, directly or indirectly in any manner or capacity (e.g., as an advisor, principal, agent, partner, officer, director, shareholder, employee, member of any association
or otherwise) engage in, work for, consult, provide advice or assistance or otherwise participate in any activity which is competitive with the business of the Company. The Executive further agrees that during such period he will not assist or
encourage any other person in carrying out any activity that would be prohibited by the foregoing provisions of this Section if such activity were carried out by the Executive and, in particular, the Executive agrees that he will not induce any
employee of the Company to carry out any such activity; provided, however, that the “beneficial ownership” by the Executive, either individually or as a member of a “group,” as such terms are used in Rule 13d of the
General Rules and Regulations under the Exchange Act, of not more than one percent (1%) of the voting stock of any publicly held corporation shall not be a violation of this Agreement. It is further expressly agreed that the Company will or would
suffer irreparable injury if the Executive were to compete with the company or any subsidiary or affiliate of the Company in violation of this Agreement and that the Company would by reason of such competition be entitled to injunctive relief in a
court of appropriate jurisdiction, and the Executive further consents and stipulates to the entry of such injunctive relief in such a court prohibiting the Executive from competing with the Company or any subsidiary or affiliate of the Company in
violation of this Agreement. In the event that the Executive breaches the provisions of this Section 9, the severance benefits under section 6.2 or 7.2.2, whichever is applicable, shall immediately terminate, the Executive shall cease to be entitled
to any additional payments under this Agreement, and all stock options shall cease to be exercisable. 
  

 6 

	9.	Confidentiality. 

  
 The Executive agrees to maintain the confidentiality of all confidential and proprietary information of the Company at all times (both during and after
his employment with the Company) and agrees that the Employee Nondisclosure Agreement entered into between the Company and the Executive on October 20, 1998 (the “Employee Nondisclosure Agreement”) shall remain in effect during the
Term of this Agreement. 
  

	10.	Antisolicitation. 

  
 The Executive promises and agrees that, for a period of twelve (12) months following his termination of employment, he will not influence or attempt to
influence suppliers or customers of the Company hereunder, either directly or indirectly, to divert their business away from the Company to any individual, partnership, firm, corporation or other entity then in competition with the Company.

  

	11.	Soliciting Employees. 

  
 The Executive promises and agrees that, for a period of twelve (12) months following termination of his employment hereunder, he will not directly or
indirectly solicit any person who is then an employee of the Company to leave the employ of the Company. 
  

	12.	Cooperation in Litigation. 

  
 The Executive agrees that he will cooperate with the Company in any litigation that arises out of events occurring prior to the termination of his
employment, including but not limited to, serving as a witness or consultant and producing documents and information relevant to the case or helpful to the Company. 
  

	13.	Indemnification. 

  
 The Company agrees that the Indemnification Agreement entered into between the Company and the Executive on June 21, 1999 (the “Indemnification
Agreement”) shall remain in effect during the Term of this Agreement. 
  

	14.	Assignment. 

  
 This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or
any rights or obligations hereunder; provided, however, that, in the event of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other individual(s) or entity, this
Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder, and;
provided, further, that the Executive may assign his rights to compensation and benefits by will or by operation of law or pursuant to Section 26. 
  

 7 

	15.	Governing Law. 

  
 This Agreement and the legal relations hereby created between the parties hereto shall be governed by and construed under and in accordance with the
internal laws of the State of California, without regard to conflicts of laws principles thereof. 
  

	16.	Entire Agreement. 

  
 This Agreement, the Employee Nondisclosure Agreement and the Indemnification Agreement represent the entire agreement of the parties hereto respecting the
matters within their scope and supersede the Prior Agreement and all other prior agreements of the parties hereto on the subject matter hereof. Any prior negotiations, correspondence, other agreements, proposals or understandings relating to the
subject matter hereof shall he deemed to be merged into this Agreement and to the extent inconsistent herewith, such negotiations, correspondence, agreements, proposals, or understandings shall be deemed to be of no force or effect. There are no
representations, warranties, or agreements, whether express or implied, or oral or written, with respect to the subject matter hereof, except as set forth herein. 
  

	17.	Modifications. 

  
 This Agreement shall not be modified by any oral agreement, either express or implied, and all modifications hereof shall be in writing and signed by the
parties hereto. 
  

	18.	Waiver. 

  
 Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or
condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times.

  

	19.	Number and Gender. 

  
 Where the context requires, the singular shall include the plural, the plural shall include the singular, and any gender shall include all other genders.

  

	20.	Section Headings. 

  
 The section headings in this Agreement are for the purpose of convenience only and shall not limit or otherwise affect any of the terms hereof.

  

	21.	Resolution of Disputes. 

  
 Any controversy arising out of or relating to the Executive’s employment, this Agreement, its enforcement or interpretation, or because of an alleged
breach, default, or misrepresentation in connection with any of its provisions, shall be submitted to arbitration in Los Angeles County, California, in accordance with the National Rules for 
  

 8 

 the Resolution of Employment Disputes then in effect of the American Arbitration Association;
provided, however, that provisional injunctive relief may, but need not, be sought in a court of law while arbitration proceedings are pending, and any provisional injunctive relief granted by such court shall remain effective until
the matter is finally determined by the arbitrator. Final resolution of any dispute through arbitration may include any remedy or relief which the arbitrator deems just and equitable. Any award or relief granted by the arbitrator hereunder shall be
final and binding on the parties hereto and may be enforced by any court of competent jurisdiction. 
  
 The parties acknowledge that they are hereby waiving any rights to trial by jury in any action, proceeding or counterclaim brought by either of the
parties against the other in connection with any matter whatsoever arising out of or in any way connected with this Agreement or the Executive’s employment. 
  
 The Company will pay the arbitrator’s fees and arbitration expenses and any other costs associated with the arbitration
or arbitration hearing that are unique to arbitration (recognizing that each side bears its own deposition, witness, expert and attorneys’ fees and other expenses as and to the same extent as if the matter were being heard in court), and each
shall separately pay its counsel fees and expenses unless otherwise provided by law; provided, however, that if the Executive prevails, the arbitrator may award the Executive reasonable attorneys’ fees. 
  

	22.	Severability. 

  
 In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of any statute or public policy, then
only the portions of this Agreement that violate such statute or public policy shall be stricken, and all portions of this Agreement that do not violate any statute or public policy shall continue in full force and effect. Furthermore, any court
order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties under this Agreement. 
  

	23.	Notices. 

  
 All notices under this Agreement shall be in writing and shall be either personally delivered or mailed postage prepaid, by certified mail, return receipt
requested: 
  

	 	(i)	if to the Company: 

  
 Digital Insight Corporation 
 26025 Mureau
Road 
 Calabasas, California 91302 
 Attention: Chair, Compensation Committee of the Board of Directors 
  

 9 

	 	(ii)	if to the Executive: 

  
 John Dorman 
 [                                     
           ] 
 [                                     
           ] 
  
 Either party may change its address set forth above by written notice given to the other party in accordance with the foregoing. Any notice shall be effective when personally delivered or five (5) business days after
being mailed in accordance with the foregoing. 
  

	24.	Counterparts. 

  
 This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which together shall constitute one and
the same instrument. 
  

	25.	Withholding Taxes. 

  
 The Company may withhold from any amounts payable under this Agreement such federal, state and local income, employment, or other taxes as may be required
to be withheld pursuant to any applicable law or regulation. 
  

	26.	Beneficiaries. 

  
 The Executive shall be entitled, to the extent permitted under any applicable law and to the extent permitted under any benefit plan or program maintained
by the Company, to select and change a beneficiary or beneficiaries to receive any compensation or benefit hereunder following the Executive’s death by giving the Company written notice thereof in accordance with the terms of such plan or
program. In the event of the Executive’s death or a judicial determination of his incompetence, reference in this Agreement to the Executive shall be deemed, where appropriate, to refer to his beneficiary, estate or other legal representative.

  

	27.	Survival. 

  
 Upon the termination of this Agreement, the provisions of Sections 5, 6, 7, 8, 9, 10, 11, 12, 15, 21, 22, and 23 shall survive. 
  

 10 

 IN WITNESS WHEREOF, the Company and the Executive have executed this Employment Agreement as of
the date first above written. 
  

			
	 THE COMPANY

	
	 Digital Insight Corporation,

	 a Delaware corporation

		
	 By:
	 	 /s/ Jeffrey Stiefler

	 	 	 Jeffrey Stiefler

	 	 	Chairman, President and Chief Executive Officer
	
	 THE EXECUTIVE

	
	 /s/ John Dorman

	 John Dorman

  

 11

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