SOURCE: eFunds

July 01, 2005 17:28 ET

eFunds Corporation Adopts Supplemental Employment Inducement Award Plan

SCOTTSDALE, AZ -- (MARKET WIRE) -- July 1, 2005 -- eFunds Corporation (NYSE: EFD), a leading provider of risk management, electronic payments and global outsourcing solutions, announced today that concurrently with the closing of the WildCard Systems acquisition, the Company adopted the eFunds Corporation 2005 Special Supplement Employment Inducement Award Plan. Under the Plan, the Company is authorized to make employment inducement awards of restricted stock or restricted stock units to employees of WildCard. 37,500 shares of the Company's common stock are available for issuance pursuant to awards granted under this plan.

Pursuant to the plan, the Company granted Larence Park, the chief executive officer of WildCard, restricted stock units convertible into 37,500 shares of the Company's common stock. 60% of the restricted stock units will vest and be converted into shares of common stock on September 16, 2008, 20% will vest and be so converted on September 16, 2009, and 20% will vest on September 16, 2010. Any unvested portion of the restricted stock units will be forfeited upon the termination of Mr. Park's employment with the Company, except if Mr. Park's employment is terminated following a change of control of the Company or by reason of his death or disability. In these circumstances, any unvested portion of the restricted stock units will vest upon Mr. Park's last day of employment with the Company.

About eFunds

eFunds Corporation is an industry leader with nearly 30 years of experience and expertise in electronic payments and risk management. eFunds offers electronic funds transfer software and processing, risk management and related outsourcing solutions to financial institutions, electronic funds transfer networks, retailers, telecommunications providers, and government agencies around the world. Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers.

Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, the unpredictability of merger and acquisition activity, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Quarterly Report on Form 10-Q for the period ending March 31, 2005.

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