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Title: |
Outsourcing Agreement |
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Date: |
2000 |
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Preview shows 19KB of 98KB total |
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$47 |
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ID: |
#1242678 |
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OUTSOURCING AGREEMENT
BY AND BETWEEN
MARSHALL & ILSLEY CORPORATION
acting on behalf of its Subsidiaries and Affiliates
and
METAVANTE CORPORATION
DATED AS OF
July 1, 2000
i
<PAGE>
TABLE OF CONTENTS
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<TABLE>
<CAPTION>
Page
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<S> <C>
1. DEFINITIONS............................................................................ 1
1.1 Definitions........................................................................ 1
1.2 References......................................................................... 1
1.3 Interpretation..................................................................... 1
2. TERM................................................................................... 1
2.1 Initial Term....................................................................... 1
2.2 Extensions......................................................................... 1
3. APPOINTMENT............................................................................ 1
3.1 Performance by Metavante Affiliates or Subcontractors.............................. 1
3.2 Third Party Products/Services...................................................... 1
3.3 Proper Instructions................................................................ 1
4. INTENTIONALLY OMITTED.................................................................. 1
5. SERVICES............................................................................... 1
5.1 Banking Application Services....................................................... 1
5.2 e-Pathway and Retail Delivery Services............................................. 2
5.3 Electronic Funds Delivery.......................................................... 2
5.4 New Services....................................................................... 2
5.5 Trust Services..................................................................... 2
6. FEES................................................................................... 2
6.1 Fee Structure...................................................................... 2
6.2 Pricing and Operational Assumptions................................................ 2
6.3 EFD Services....................................................................... 2
6.4 Training and Education............................................................. 2
6.5 Excluded Costs..................................................................... 2
6.6 Disputed Amounts................................................................... 3
6.7 Terms of Payment................................................................... 3
6.8 Modification of Terms and Pricing.................................................. 3
7. PERFORMANCE WARRANTY/EXCLUSIVE REMEDY/DISCLAIMER OF ALL OTHER WARRANTIES............... 3
7.1 Performance Warranty............................................................... 3
7.2 Performance Standards.............................................................. 3
7.3 Performance Warranty Exclusions.................................................... 3
7.4 Notice of and Correction of Defects................................................ 3
7.4 Backup Remedy...................................................................... 3
7.5 DISCLAIMER OF ALL OTHER WARRANTIES................................................. 3
8. MODIFICATION OR PARTIAL TERMINATION.................................................... 3
8.1 Modifications to Services.......................................................... 3
8.2 PARTIAL TERMINATION BY............................................................. 3
8.3 Partial Termination by Customer.................................................... 4
8.4 Ownership and Proprietary Rights................................................... 4
9. TERMINATION............................................................................ 4
9.1 Early Termination.................................................................. 4
9.2 For Cause.......................................................................... 4
9.3 For Insolvency..................................................................... 4
9.4 For Force Majeure.................................................................. 4
9.5 For Assignment..................................................................... 4
10. SERVICES FOLLOWING TERMINATION......................................................... 4
10.1 Termination Assistance............................................................. 4
10.2 Continuation of Services........................................................... 4
</TABLE>
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<PAGE>
<TABLE>
<S> <C>
11. LIMITATION OF LIABILITY/MAXIMUM DAMAGES ALLOWED........................................ 4
11.1 Equitable Relief.................................................................... 4
11.2 Exclusion of Incidental and Consequential Damages................................... 4
11.3 Maximum Damages Allowed............................................................. 5
11.4 Statute of Limitations.............................................................. 5
11.5 Economic Loss Waiver................................................................ 5
11.6 Liquidated Damages.................................................................. 5
11.7 Essential Elements.................................................................. 5
12. INSURANCE AND INDEMNITY................................................................ 5
12.1 Insurance........................................................................... 5
12.2 Indemnity........................................................................... 5
12.3 Indemnification Procedures.......................................................... 5
13. DISPUTE RESOLUTION..................................................................... 5
13.1 Representatives of Parties.......................................................... 6
13.2 Arbitration......................................................................... 6
13.3 Continuity of Performance........................................................... 6
14. AUTHORITY.............................................................................. 6
14.1 By.................................................................................. 6
14.2 By Customer......................................................................... 6
15. CONFIDENTIALITY AND OWNERSHIP.......................................................... 6
15.1 Customer Data....................................................................... 6
15.2 Metavante Systems................................................................... 6
15.3 Confidential Information............................................................ 6
15.4 Obligations of the Parties.......................................................... 6
15.5 Security............................................................................ 6
16. MANAGEMENT OF PROJECT.................................................................. 7
16.1 Account Representatives............................................................. 7
16.2 Development Projects and Technical Support.......................................... 7
17. REGULATORY COMPLIANCE.................................................................. 7
18. DISASTER RECOVERY...................................................................... 8
18.1 Services Continuity Plan............................................................ 8
18.2 Relocation.......................................................................... 8
18.3 Resumption of Services.............................................................. 8
18.4 Annual Test......................................................................... 8
19. GENERAL TERMS AND CONDITIONS........................................................... 8
19.1 Transmission of Data................................................................ 8
19.2 Equipment and Network............................................................... 8
19.3 Reliance on Data.................................................................... 8
19.4 Data Backup......................................................................... 8
19.5 Balancing and Controls.............................................................. 8
19.6 Use of Services..................................................................... 8
19.7 Regulatory Assurances............................................................... 8
19.8 IRS Filing.......................................................................... 9
19.9 Affiliates.......................................................................... 9
19.10 Future Acquisitions............................................................... 9
20. MISCELLANEOUS PROVISIONS............................................................... 9
20.1 Governing Law....................................................................... 9
20.2 Venue and Jurisdiction.............................................................. 9
20.3 Entire Agreement; Amendments........................................................ 9
20.4 Assignment.......................................................................... 9
20.5 Relationship of Parties............................................................. 10
</TABLE>
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<PAGE>
<TABLE>
<S> <C>
20.6 Notices............................................................................. 10
20.7 Headings............................................................................ 10
20.8 Counterparts........................................................................ 10
20.9 Waiver.............................................................................. 10
20.10 Severability........................................................................ 10
20.11 Attorneys' Fees and Costs........................................................... 10
20.12 Publicity........................................................................... 10
20.13 No Third Party Beneficiaries........................................................ 10
20.14 Force Majeure....................................................................... 11
20.15 Construction........................................................................ 11
20.16 Waiver of Jury Trial................................................................ 11
20.17 Nonsolicitation..................................................................... 11
</TABLE>
Schedules
1.1 Definitions
1.2 Customer Affiliates
5.1A Core Services
5.1B Loan Origination Services
5.1C Connectware
5.1D ACH Services
5.1E Data Warehouse Services
5.1F Credit Services
5.2A DirectPC Services
5.2B Consumer Internet Banking Services
5.2D Business E-Banking Services
5.2E Cash Express Services
5.2F Payment Processing Services
5.3A Card Services
5.3B EFD Services
5.3C Merchant E-Commerce Services
5.5 Trust Services
6.1 Fee Schedule
7.1 Performance Standards
9.1 Termination Fee
Exhibits
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A Attorney-in-Fact Appointment
B Affidavit
iii
<PAGE>
OUTSOURCING AGREEMENT
This Outsourcing Agreement ("Agreement") is made as of the 1st day of July,
2000, by and between Marshall & Ilsley Corporation, a Wisconsin corporation
("Customer") and Metavante Corporation, a Wisconsin corporation ("Metavante").
In consideration of the payments to be made and services to be performed
hereunder, the parties agree as follows:
1. DEFINITIONS
1.1. Definitions. The defined terms of this Agreement shall have the
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meaning ascribed to them on attached Schedule 1.1.
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1.2. References. In this Agreement and the schedules and exhibits
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attached hereto, which are hereby incorporated and deemed a part of this
Agreement, references and mention of the word "include" and "including" shall
mean "includes, without limitation" and "including, without limitation," as
applicable.
1.3. Interpretation. In the event of a conflict between this Agreement
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and the terms of any exhibits and schedules attached hereto, the terms of the
schedules and exhibits shall prevail and control the interpretation of the
Agreement. The exhibits and schedules together with the Agreement shall be
interpreted as a single document.
2. TERM
2.1. Initial Term. This Agreement shall commence on the Effective Date
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and end on the seventh (7/th/) anniversary of the last day of the month in which
the Effective Date occurs ("Initial Term") provided that, during the ninety (90)
day period commencing on the fifth (5/th/) anniversary of the last day of the
month in which the Effective Date occurs, Customer may terminate this entire
Agreement or terminate any of the Services then received by Customer without
payment of a Termination Fee upon providing one hundred eighty (180) days
written notice to Metavante. Failure to provide timely notice during said ninety
(90) day period shall void Customer's option specified above.
2.2. Extensions. Unless this Agreement has been earlier terminated, at
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least one (1) year prior to the expiration of the Initial Term, Metavante shall
submit to Customer a written proposal for renewal of this Agreement. Customer
will respond to such proposal within three (3) months following receipt and
inform Metavante in writing whether or not Customer desires to renew this
Agreement. If Metavante and Customer are unable to agree upon the terms for
renewal of this Agreement at least six (6) months prior to the expiration of the
Initial Term, then this Agreement shall be automatically renewed for one (1)
twelve-month period under the same terms and conditions, including price.
Thereafter, this Agreement shall expire unless further renewed in writing by the
parties.
3. APPOINTMENT
3.1. Performance by Metavante Affiliates or Subcontractors. Customer
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understands and agrees that the actual performance of the Services may be made
by, and/or software used by Metavante to provide the Services may be licensed
from Affiliates of Metavante, or subcontractors of Metavante or its Affiliates
(collectively, the "Eligible Providers"). For purposes of this Agreement,
performance of the Services by any Eligible Provider shall be deemed performance
by Metavante itself. Metavante shall remain fully responsible for the
performance or non-performance of each Eligible Provider under this Agreement,
to the same extent if Metavante itself performed or failed to perform such
services. Customer agrees to look solely to Metavante, and not to any Eligible
Providers, for satisfaction of any claims Customer may have arising out of or in
connection with this Agreement or the performance or non-performance of
Services.
3.2. Third Party Products/Services. The parties acknowledge that certain
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services and products necessary for the performance of the Services are being,
and in the future may be, provided by Third Parties who will contract directly
with Customer,. Metavante shall have no liability to Customer for information
and products supplied by, or services performed by, such Third Parties in
conjunction with the Services.
3.3. Proper Instructions. "Proper Instructions" shall mean those
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instructions sent to Metavante by letter, memorandum, telegram, cable, telex,
telecopy facsimile, computer terminal, e-mail or other "on line" system or
similar means of communication or given orally over the telephone or given in
person by one or more of the person(s) whose name(s) and signature(s) are listed
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