TERM SHEET BY AND BETWEEN S1 CORPORATION AND JOHANN DREYEREmployment Agreement • November 2nd, 2006 • S1 Corp /De/ • Services-computer programming, data processing, etc.
This Term Sheet shall form the basis under which S1 Corporation (also referred to as "S1") shall amend and restate that certain Employment Agreement by and between S1 Corporation and Johann Dreyer, dated November 12, 2004, as amended by Amendment to Employment Agreement, dated February 28, 2005. The parties contemplate that as soon as reasonably practicable, Mr. Dreyer and S1 will amend the aforementioned employment agreement on terms consistent with this Term Sheet and in a form approved by S1. Subject to the execution of that amended written employment agreement by S1 and Johann Dreyer, Mr. Dreyer's employment will continue on the basis as in existence on the date hereof. This Term Sheet does not create a contract of employment.
