Exhibit 10.5.7
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 Xxxxxx X. Xxxxxxxx, Xx. ("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/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Chairman, Compensation Committee of
the Board of Directors
/s/ Xxxxxx X. Xxxxxxxx, Xx.
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Xxxxxx X. Xxxxxxxx, Xx.
