Fifth Amendment to Employment Agreement between InteliData Technologies Corporation and Alfred S. Dominick, Jr.

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Summary

This amendment updates the employment agreement between InteliData Technologies Corporation and Alfred S. Dominick, Jr. It extends Mr. Dominick's employment term through April 5, 2006, unless ended earlier, and revises the life insurance benefit. InteliData will reimburse Mr. Dominick for premiums on up to $2 million in term life insurance, or equivalent whole life coverage, with the policies owned by him. These reimbursements are considered additional compensation and are subject to applicable taxes.

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EX-10.1 2 dex101.htm FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT Fifth Amendment to Employment Agreement

EXHIBIT 10.1

 

FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT, dated as of March 10, 2005, is by and between InteliData Technologies Corporation, a Delaware corporation and Alfred S. Dominick, Jr. (“Executive”) and amends the Employment Agreement dated April 5, 1999, and previously amended on April 5, 2002, January 14, 2003, April 2, 2003, and January 5, 2004 between InteliData and the Executive as follows:

 

  1. Section 2 of the Employment Agreement shall be replaced in its entirety by the following:

 

“2. Term. The period of employment shall be from April 5, 1999 through April 5, 2006, unless sooner terminated as herein set forth.”

 

  2. Section 4 (h) of the Employment Agreement shall be replaced in its entirety by the following:

 

“(h) Life Insurance. In addition to the life insurance plan generally made available to InteliData employees, InteliData shall reimburse Executive for premiums paid with respect to up to $2 million in term life insurance coverage on the life of Executive, or equivalently priced premiums for whole life insurance coverage, (which policies shall be owned by Executive). Amounts so reimbursed shall be additional compensation to Executive and shall be subject to applicable federal, state and local taxes and withholding.”

 

IN WITNESS WHEREOF, the parties have executed this FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT as of the tenth day of March, 2005.

 

InteliData Technologies Corporation
By:  

/s/ Patrick F. Graham

    Patrick F. Graham
    Chairman, Compensation Committee of
    the Board of Directors
   

/s/ Alfred S. Dominick, Jr.

    Alfred S. Dominick, Jr.