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<P align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>As
filed with the Securities and Exchange Commission on May 13, 2004</B>


<P align="right" style="font-size: 10pt">Registration No.&nbsp;333-____________



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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549
</B>
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<P align="center" style="font-size: 18pt"><B>FORM S-8</B>

<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT</B></DIV>


<DIV align="center" style="font-size: 12pt"><B>UNDER</B></DIV>


<DIV align="center" style="font-size: 12pt"><B>THE SECURITIES ACT OF 1933</B>
&nbsp;&nbsp;&nbsp;</DIV>
<P>




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<DIV align="center" style="font-size: 24pt"><B>S1 Corporation</B>
</DIV>
<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>



<P align="center" style="font-size: 10pt">Delaware<BR>
(State or other jurisdiction of<BR>
incorporation or organization)



<P align="center" style="font-size: 10pt">58-2395199<BR>
(IRS employer identification number)



<P align="center" style="font-size: 10pt"><B>S1 Corporation<BR>
3500 Lennox Road, NE, Suite&nbsp;200<BR>
Atlanta, Georgia 30326</B><BR>
(Address, including zip code, and telephone number,<BR>
including area code, of registrant&#146;s principal<BR>
executive offices)



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<P align="center" style="font-size: 10pt"><B>2003 Stock Incentive Plan</B><BR>
(Full title of the Plan)



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<P align="center" style="font-size: 10pt"><B>Richard P. Dobb, Esq.<BR>
Vice President, General Counsel and Secretary<BR>
S1 Corporation<BR>
3500 Lennox Road, NE, Suite&nbsp;200<BR>
Atlanta, Georgia 30326</B><BR>
(Name, address and telephone number of Agent for Service)



<P align="center" style="font-size: 10pt">Copy to:<BR>
<B>Stuart G. Stein, Esq.<BR>
Hogan &#038; Hartson L.L.P.<BR>
555 13th Street, N.W.<BR>
Washington, D.C. 20004<BR>
(202)&nbsp;637-8575</B>



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<P align="center" style="font-size: 10pt"><B>Calculation of Registration Fee</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
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<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Title of securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>to be registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per share (1)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price (1)(2)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>fee (1)(2)</B><HR size="1" noshade></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, par value $0.01 per share
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,657,517</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">9.05</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">69,300,528.85</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">8,780.38</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

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<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) of the Securities
Act of 1933, as amended, based upon the average of the highest and lowest quoted selling prices of the Registrant&#146;s
common stock reported on the Nasdaq National Market on May&nbsp;7, 2004, a date within five business days of the date on
which this registration statement was filed.</TD>
</TR>

</TABLE>


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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant is registering 7,657,517 shares of its common stock, par value $0.01 per share, reserved for
issuance pursuant to the Registrant&#146;s 2003 Stock Incentive Plan.</TD>
</TR>

</TABLE>


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<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD colspan="9"><A HREF="#000"> PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001"> PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003"> Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004"> Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005"> Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006"> Item&nbsp;7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007"> Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010"> EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g89111exv5.htm">EX-5 OPINION OF RICHARD P. DOBB, ESQ.</A></TD></TR>
<TR><TD colspan="9"><A HREF="g89111exv23w2.htm">EX-23.2 CONSENT OF PRICEWATERHOUSECOOPERS LLP</A></TD></TR>
</TABLE>
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<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I will be sent
or given to employees as specified by Rule&nbsp;428(b)(1) of the Securities Act of
1933, as amended (the &#147;Securities Act&#148;). In accordance with the instructions
to Part&nbsp;I of Form S-8, such documents will not be filed with the (&#147;SEC&#148;) either
as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 of the Securities Act. These documents and
the documents incorporated by reference pursuant to Item&nbsp;3 of Part&nbsp;II of this
registration statement, taken together, constitute the prospectus as required
by Section 10(a) of the Securities Act.

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<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S1 Corporation (&#147;S1&#148;) hereby incorporates by reference into this
registration statement the following documents filed by it with the SEC:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>S1&#146;s annual report on Form 10-K for the fiscal
year ended December&nbsp;31, 2003 filed with the SEC on March&nbsp;15,
2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>S1&#146;s quarterly report on Form 10-Q for the
quarter ended March&nbsp;31, 2004 filed with the SEC on May&nbsp;10,
2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>S1&#146;s current report on Form 8-K filed with the
SEC on April&nbsp;28, 2004</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>S1&#146;s current report on Form 8-K filed with the
SEC on March&nbsp;15, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>S1&#146;s current report on Form 8-K filed with the
SEC on February&nbsp;12, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of S1&#146;s common stock, par value
$0.01 per share contained in S1&#146;s Registration Statement on
Form 8-A filed with the SEC on September&nbsp;30, 1998, including
any amendment or report filed for the purpose of updating such
description.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents and reports filed by S1 subsequent to the date
hereof pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), prior to the filing of a
post-effective amendment that indicates that all securities offered have been
sold or that deregisters all securities remaining unsold, shall be deemed to be
incorporated by reference in this registration statement and to be part hereof
from the date of filing of such documents or reports. Any statement contained
in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this registration
statement to the extent that a statement contained herein or in any other
subsequently filed document, which also is or is deemed to be incorporated by
reference herein, modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this registration statement.

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="center" style="font-size: 10pt">2
</DIV>

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<!-- link2 " Item&nbsp;5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

<!-- link2 " Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the General Corporation Law of the State of Delaware sets
forth certain circumstances under which directors, officers, employees and
agents may be indemnified against liability that they may incur in their
capacity as such. Section&nbsp;6 of S1&#146;s Amended and Restated Certificate of
Incorporation, as amended, provides for indemnification of S1&#146;s directors,
officers, employees and agents under certain circumstances. Section&nbsp;6 of S1&#146;s
Amended and Restated Bylaws, as amended, provides that S1 may purchase and
maintain insurance on behalf of directors, officers, employees or agents. S1
has in effect a policy of liability insurance covering its directors and
officers. Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of S1 pursuant to the foregoing provisions, or otherwise, S1 has been advised
that in the opinion of the SEC such indemnification is against public policy as
expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the
payment by S1 of expenses incurred or paid by a director, officer, or
controlling person of S1 in the successful defense of any action, suit, or
proceeding) is asserted by such director, officer, or controlling person in
connection with the securities being registered, S1 will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to
a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.

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<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="center" style="font-size: 10pt">2
</DIV>

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<!-- link2 " Item&nbsp;8. Exhibits." -->
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<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Exhibit</B><HR size="1" noshade></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated
Certificate of
Incorporation of S1
Corporation (&#147;S1&#148;) (filed
as Exhibit&nbsp;1 to S1&#146;s
Registration Statement on
Form&nbsp;8-A filed with the
Securities and Exchange
Commission (the &#147;SEC&#148;) on
September&nbsp;30, 1998 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
June&nbsp;3, 1999 (filed as
Exhibit&nbsp;4.2 to S1&#146;s
Registration Statement on
Form&nbsp;S-8 (File No.
333-82369) filed with the
SEC on July&nbsp;7, 1999 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
November&nbsp;10, 1999 (filed
as Exhibit&nbsp;3.3 to S1&#146;s
Annual Report on Form
10-K for the fiscal year
ended December&nbsp;31, 1999
and incorporated herein
by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designation for S1&#146;s
Series&nbsp;B Redeemable
Convertible Preferred
Stock (filed as Exhibit&nbsp;2
to S1&#146;s Registration
Statement on Form&nbsp;8-A
filed with the SEC on
September&nbsp;30, 1998 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designation for S1&#146;s
Series&nbsp;C Redeemable
Convertible Preferred
Stock (filed as Exhibit&nbsp;3
to S1&#146;s Quarterly Report
on Form&nbsp;10-Q for the
quarterly period ended
March&nbsp;31, 1999 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designations for S1&#146;s
Series&nbsp;D Convertible
Preferred Stock (filed as
Exhibit&nbsp;3 to S1&#146;s Current
Report on Form&nbsp;8-K filed
with the SEC on June&nbsp;7,
2000 and incorporated
herein by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designations for S1&#146;s
Series&nbsp;E Convertible
Preferred Stock (filed as
Exhibit&nbsp;3 to S1&#146;s
Registration Statement on
Form&nbsp;S-8 (File No.
333-72250) filed with the
SEC on October&nbsp;26, 2001
and incorporated herein
by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated
Bylaws of S1, as amended
(filed as Exhibit&nbsp;4.7 to
S1&#146;s Post-Effective
Amendment No.&nbsp;1 to Form
S-8 Registration
Statement (File No.
333-82383) filed with the
SEC on August&nbsp;9, 2000 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s common stock (filed
as Exhibit&nbsp;4 to S1&#146;s
Quarterly Report on Form
10-Q for the quarterly
period ended March&nbsp;31,
2000 and incorporated
herein by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;B Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.3 to S1&#146;s Annual Report
on Form&nbsp;10-K for the
fiscal year ended
December&nbsp;31, 1998 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;C Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.10 to S1&#146;s
Post-Effective Amendment
No.&nbsp;1 to Form&nbsp;S-8
Registration Statement
(File No.&nbsp;333-82383)
filed with the SEC on
August&nbsp;9, 2000 and
incorporated herein by
reference).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Exhibit</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.12
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;D Convertible
Preferred Stock (filed as
Exhibit&nbsp;4 to S1&#146;s Current
Report on Form&nbsp;8-K filed
with the SEC on June&nbsp;7,
2000 and incorporated
herein by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;E Convertible
Preferred Stock (filed as
Exhibit&nbsp;4.2 to S1&#146;s
Registration Statement on
Form&nbsp;S-3 (File No.
333-75178) filed with the
SEC on December&nbsp;14, 2001
and incorporated herein
by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Richard P. Dobb, Esq. as to the legality of the securities
registered hereunder, including the consent of Mr.&nbsp;Dobb.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Mr.&nbsp;Dobb (included in Item&nbsp;5).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on signature page).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2003 Stock Incentive Plan (incorporated by reference from S1&#146;s Proxy
Statement for the 2003 annual meeting of stockholders filed with the SEC
on April&nbsp;18, 2003).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings</B>.



<P align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt">(a)&nbsp;The undersigned Registrant hereby undertakes:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or
sales are being made, a post effective amendment to this
registration statement:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:15%; font-size: 10pt">(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of
the Securities Act;



<P align="left" style="margin-left:15%; font-size: 10pt">(ii)&nbsp;To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or
the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the registration
statement; and



<P align="left" style="margin-left:15%; font-size: 10pt">(iii)&nbsp;To include any material information with respect to the
plan of distribution not previously disclosed in the
registration statement or any material change to such
information in the registration statement.



<P align="left" style="margin-left:10%; font-size: 10pt"><I>provided,
however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the SEC by the
Registrant pursuant to Section&nbsp;13 or Section 15(d) of the Exchange
Act that are incorporated by reference in the registration
statement.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any
liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the
initial <I>bona fide </I>offering thereof.</TD>
</TR>

</TABLE>


<P align="left" style="margin-left:0px;text-indent:15%;font-size: 10pt">(3)&nbsp;To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.


<P align="center" style="font-size: 10pt">4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt">(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s
annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona
fide </I>offering thereof.


<P align="left" style="margin-left: 0%; text-indent: 3%; margin-right: 0%; font-size: 10pt">(c)&nbsp;Insofar as indemnification for liability arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant or expenses incurred or
paid by a director, officer or controlling person in successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question of whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.


<P align="center" style="font-size: 10pt">5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Atlanta, State of Georgia, on this 13&nbsp;day of May
2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="14%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="73%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>S1 CORPORATION</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Jaime W. Ellertson</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jaime W. Ellertson</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer and a Director</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below appoints Jaime W. Ellertson or
Richard P. Dobb, jointly and severally, each in his or her own capacity, as
true and lawful attorneys-in-fact, with full power or substitution in such
person&#146;s name, place and stead, in any and all capacities to sign any
amendments to this Registration Statement on Form S-8 and to file the same,
with all exhibits thereto, and other documents in connection therewith, with
the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorneys-in-fact, or their substitute or substitutes, may lawfully
do or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated below on this 13&nbsp;day of May&nbsp;2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>SIGNATURE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>TITLE</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jaime W. Ellertson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer and a Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Executive Officer)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jaime W. Ellertson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Matthew Hale
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Financial Officer</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Matthew Hale
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">and Principal Accounting Officer)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James S. Mahan, III
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James S. Mahan, III</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David C. Hodgson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David C. Hodgson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ M. Douglas Ivester
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">M. Douglas Ivester</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Gregory J. Owens
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gregory J. Owens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Howard J. Runnion, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="50%" align="left"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Howard J. Runnion, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 " EXHIBIT INDEX" -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Exhibit</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated
Certificate of
Incorporation of S1
Corporation (&#147;S1&#148;) (filed
as Exhibit&nbsp;1 to S1&#146;s
Registration Statement on
Form&nbsp;8-A filed with the
Securities and Exchange
Commission (the &#147;SEC&#148;) on
September&nbsp;30, 1998 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
June&nbsp;3, 1999 (filed as
Exhibit&nbsp;4.2 to S1&#146;s
Registration Statement on
Form&nbsp;S-8 (File No.
333-82369) filed with the
SEC on July&nbsp;7, 1999 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
November&nbsp;10, 1999 (filed
as Exhibit&nbsp;3.3 to S1&#146;s
Annual Report on Form
10-K for the fiscal year
ended December&nbsp;31, 1999
and incorporated herein
by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designation for S1&#146;s
Series&nbsp;B Redeemable
Convertible Preferred
Stock (filed as Exhibit&nbsp;2
to S1&#146;s Registration
Statement on Form&nbsp;8-A
filed with the SEC on
September&nbsp;30, 1998 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designation for S1&#146;s
Series&nbsp;C Redeemable
Convertible Preferred
Stock (filed as Exhibit&nbsp;3
to S1&#146;s Quarterly Report
on Form&nbsp;10-Q for the
quarterly period ended
March&nbsp;31, 1999 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designations for S1&#146;s
Series&nbsp;D Convertible
Preferred Stock (filed as
Exhibit&nbsp;3 to S1&#146;s Current
Report on Form&nbsp;8-K filed
with the SEC on June&nbsp;7,
2000 and incorporated
herein by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of
Designations for S1&#146;s
Series&nbsp;E Convertible
Preferred Stock (filed as
Exhibit&nbsp;3 to S1&#146;s
Registration Statement on
Form&nbsp;S-8 (File No.
333-72250) filed with the
SEC on October&nbsp;26, 2001
and incorporated herein
by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated
Bylaws of S1, as amended
(filed as Exhibit&nbsp;4.7 to
S1&#146;s Post-Effective
Amendment No.&nbsp;1 to Form
S-8 Registration
Statement (File No.
333-82383) filed with the
SEC on August&nbsp;9, 2000 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s common stock (filed
as Exhibit&nbsp;4 to S1&#146;s
Quarterly Report on Form
10-Q for the quarterly
period ended March&nbsp;31,
2000 and incorporated
herein by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;B Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.3 to S1&#146;s Annual Report
on Form&nbsp;10-K for the
fiscal year ended
December&nbsp;31, 1998 and
incorporated herein by
reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;C Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.10 to S1&#146;s
Post-Effective Amendment
No.&nbsp;1 to Form&nbsp;S-8
Registration Statement
(File No.&nbsp;333-82383)
filed with the SEC on
August&nbsp;9, 2000 and
incorporated herein by
reference).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">7
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Exhibit</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.12
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;D Convertible
Preferred Stock (filed as
Exhibit&nbsp;4 to S1&#146;s Current
Report on Form&nbsp;8-K filed
with the SEC on June&nbsp;7,
2000 and incorporated
herein by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for
S1&#146;s Series&nbsp;E Convertible
Preferred Stock (filed as
Exhibit&nbsp;4.2 to S1&#146;s
Registration Statement on
Form&nbsp;S-3 (File No.
333-75178) filed with the
SEC on December&nbsp;14, 2001
and incorporated herein
by reference).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Richard P. Dobb, Esq. as to the legality of the securities
registered hereunder, including the consent of Mr.&nbsp;Dobb.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Mr.&nbsp;Dobb (included in Item&nbsp;5).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on signature page).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2003 Stock Incentive Plan (incorporated by reference from S1&#146;s Proxy
Statement for the 2003 annual meeting of stockholders filed with the SEC
on April&nbsp;28, 2003).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">8
</DIV>

</BODY>
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{"company-data": {"conformed-name": "S1 CORP /DE/", "cik": "0001063254", "assigned-sic": "7370", "irs-number": "582395199", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-115457", "film-number": "04802465"}, "business-address": {"street1": "3390 PEACHTREE ROAD NE", "street2": "SUITE 1700", "city": "ATLANTA", "state": "GA", "zip": "30326", "phone": "4048126200"}, "mail-address": {"street1": "3390 PEACHTREE ROAD NE", "street2": "SUITE 1700", "city": "ATLANTA", "state": "GA", "zip": "30326"}, "former-company": {"former-conformed-name": "SECURITY FIRST TECHNOLOGIES CORP", "date-changed": "19980603"}}
S1 CORPORATION
Table of Contents
As
filed with the Securities and Exchange Commission on May 13, 2004
Registration No. 333-____________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
S1 Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
58-2395199
(IRS employer identification number)
S1 Corporation
3500 Lennox Road, NE, Suite 200
Atlanta, Georgia 30326
(Address, including zip code, and telephone number,
including area code, of registrant's principal
executive offices)
2003 Stock Incentive Plan
(Full title of the Plan)
Richard P. Dobb, Esq.
Vice President, General Counsel and Secretary
S1 Corporation
3500 Lennox Road, NE, Suite 200
Atlanta, Georgia 30326
(Name, address and telephone number of Agent for Service)
Copy to:
Stuart G. Stein, Esq.
Hogan & Hartson L.L.P.
555 13th Street, N.W.
Washington, D.C. 20004
(202) 637-8575
Calculation of Registration Fee
Amount
Proposed maximum
Proposed maximum
Amount of
Title of securities
to be
offering price
aggregate offering
registration
to be registered
registered
per share (1)
price (1)(2)
fee (1)(2)
Common Stock, par value $0.01 per share
7,657,517
$
9.05
$
69,300,528.85
$
8,780.38
(1)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) of the Securities
Act of 1933, as amended, based upon the average of the highest and lowest quoted selling prices of the Registrant's
common stock reported on the Nasdaq National Market on May 7, 2004, a date within five business days of the date on
which this registration statement was filed.
(2)
The Registrant is registering 7,657,517 shares of its common stock, par value $0.01 per share, reserved for
issuance pursuant to the Registrant's 2003 Stock Incentive Plan.
TABLE OF CONTENTS
PART I
PART II
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
EX-5 OPINION OF RICHARD P. DOBB, ESQ.
EX-23.2 CONSENT OF PRICEWATERHOUSECOOPERS LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I will be sent
or given to employees as specified by Rule 428(b)(1) of the Securities Act of
1933, as amended (the "Securities Act"). In accordance with the instructions
to Part I of Form S-8, such documents will not be filed with the ("SEC") either
as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act. These documents and
the documents incorporated by reference pursuant to Item 3 of Part II of this
registration statement, taken together, constitute the prospectus as required
by Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
S1 Corporation ("S1") hereby incorporates by reference into this
registration statement the following documents filed by it with the SEC:
a)
S1's annual report on Form 10-K for the fiscal
year ended December 31, 2003 filed with the SEC on March 15,
2004.
b)
S1's quarterly report on Form 10-Q for the
quarter ended March 31, 2004 filed with the SEC on May 10,
2004.
c)
S1's current report on Form 8-K filed with the
SEC on April 28, 2004
d)
S1's current report on Form 8-K filed with the
SEC on March 15, 2004.
e)
S1's current report on Form 8-K filed with the
SEC on February 12, 2004.
f)
The description of S1's common stock, par value
$0.01 per share contained in S1's Registration Statement on
Form 8-A filed with the SEC on September 30, 1998, including
any amendment or report filed for the purpose of updating such
description.
In addition, all documents and reports filed by S1 subsequent to the date
hereof pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), prior to the filing of a
post-effective amendment that indicates that all securities offered have been
sold or that deregisters all securities remaining unsold, shall be deemed to be
incorporated by reference in this registration statement and to be part hereof
from the date of filing of such documents or reports. Any statement contained
in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this registration
statement to the extent that a statement contained herein or in any other
subsequently filed document, which also is or is deemed to be incorporated by
reference herein, modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this registration statement.
Item 4. Description of Securities
.
Not applicable.
2
Table of Contents
Item 5. Interests of Named Experts and Counsel
.
Not applicable.
Item 6. Indemnification of Directors and Officers
.
Section 145 of the General Corporation Law of the State of Delaware sets
forth certain circumstances under which directors, officers, employees and
agents may be indemnified against liability that they may incur in their
capacity as such. Section 6 of S1's Amended and Restated Certificate of
Incorporation, as amended, provides for indemnification of S1's directors,
officers, employees and agents under certain circumstances. Section 6 of S1's
Amended and Restated Bylaws, as amended, provides that S1 may purchase and
maintain insurance on behalf of directors, officers, employees or agents. S1
has in effect a policy of liability insurance covering its directors and
officers. Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of S1 pursuant to the foregoing provisions, or otherwise, S1 has been advised
that in the opinion of the SEC such indemnification is against public policy as
expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the
payment by S1 of expenses incurred or paid by a director, officer, or
controlling person of S1 in the successful defense of any action, suit, or
proceeding) is asserted by such director, officer, or controlling person in
connection with the securities being registered, S1 will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to
a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
Item 7. Exemption from Registration Claimed
.
Not applicable.
2
Table of Contents
Item 8. Exhibits.
Exhibit
No.
Exhibit
4.1
Amended and Restated
Certificate of
Incorporation of S1
Corporation ("S1") (filed
as Exhibit 1 to S1's
Registration Statement on
Form 8-A filed with the
Securities and Exchange
Commission (the "SEC") on
September 30, 1998 and
incorporated herein by
reference).
4.2
Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
June 3, 1999 (filed as
Exhibit 4.2 to S1's
Registration Statement on
Form S-8 (File No.
333-82369) filed with the
SEC on July 7, 1999 and
incorporated herein by
reference).
4.3
Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
November 10, 1999 (filed
as Exhibit 3.3 to S1's
Annual Report on Form
10-K for the fiscal year
ended December 31, 1999
and incorporated herein
by reference).
4.4
Certificate of
Designation for S1's
Series B Redeemable
Convertible Preferred
Stock (filed as Exhibit 2
to S1's Registration
Statement on Form 8-A
filed with the SEC on
September 30, 1998 and
incorporated herein by
reference).
4.5
Certificate of
Designation for S1's
Series C Redeemable
Convertible Preferred
Stock (filed as Exhibit 3
to S1's Quarterly Report
on Form 10-Q for the
quarterly period ended
March 31, 1999 and
incorporated herein by
reference).
4.6
Certificate of
Designations for S1's
Series D Convertible
Preferred Stock (filed as
Exhibit 3 to S1's Current
Report on Form 8-K filed
with the SEC on June 7,
2000 and incorporated
herein by reference).
4.7
Certificate of
Designations for S1's
Series E Convertible
Preferred Stock (filed as
Exhibit 3 to S1's
Registration Statement on
Form S-8 (File No.
333-72250) filed with the
SEC on October 26, 2001
and incorporated herein
by reference).
4.8
Amended and Restated
Bylaws of S1, as amended
(filed as Exhibit 4.7 to
S1's Post-Effective
Amendment No. 1 to Form
S-8 Registration
Statement (File No.
333-82383) filed with the
SEC on August 9, 2000 and
incorporated herein by
reference).
4.9
Specimen certificate for
S1's common stock (filed
as Exhibit 4 to S1's
Quarterly Report on Form
10-Q for the quarterly
period ended March 31,
2000 and incorporated
herein by reference).
4.10
Specimen certificate for
S1's Series B Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.3 to S1's Annual Report
on Form 10-K for the
fiscal year ended
December 31, 1998 and
incorporated herein by
reference).
4.11
Specimen certificate for
S1's Series C Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.10 to S1's
Post-Effective Amendment
No. 1 to Form S-8
Registration Statement
(File No. 333-82383)
filed with the SEC on
August 9, 2000 and
incorporated herein by
reference).
3
Table of Contents
Exhibit
No.
Exhibit
4.12
Specimen certificate for
S1's Series D Convertible
Preferred Stock (filed as
Exhibit 4 to S1's Current
Report on Form 8-K filed
with the SEC on June 7,
2000 and incorporated
herein by reference).
4.13
Specimen certificate for
S1's Series E Convertible
Preferred Stock (filed as
Exhibit 4.2 to S1's
Registration Statement on
Form S-3 (File No.
333-75178) filed with the
SEC on December 14, 2001
and incorporated herein
by reference).
5
Opinion of Richard P. Dobb, Esq. as to the legality of the securities
registered hereunder, including the consent of Mr. Dobb.
23.1
Consent of Mr. Dobb (included in Item 5).
23.2
Consent of PricewaterhouseCoopers LLP.
24
Power of Attorney (included on signature page).
99.1
2003 Stock Incentive Plan (incorporated by reference from S1's Proxy
Statement for the 2003 annual meeting of stockholders filed with the SEC
on April 18, 2003).
Item 9. Undertakings
.
(a) The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or
sales are being made, a post effective amendment to this
registration statement:
(i) To include any prospectus required by Section 10(a)(3) of
the Securities Act;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or
the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the registration
statement; and
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the
registration statement or any material change to such
information in the registration statement.
provided,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the SEC by the
Registrant pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in the registration
statement.
(2)
That, for the purpose of determining any
liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the
initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
4
Table of Contents
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act (and, where applicable, each filing of an employee benefit plan's
annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(c) Insofar as indemnification for liability arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant or expenses incurred or
paid by a director, officer or controlling person in successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question of whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Atlanta, State of Georgia, on this 13 day of May
2004.
S1 CORPORATION
By:
/s/ Jaime W. Ellertson
Jaime W. Ellertson
Chief Executive Officer and a Director
Each person whose signature appears below appoints Jaime W. Ellertson or
Richard P. Dobb, jointly and severally, each in his or her own capacity, as
true and lawful attorneys-in-fact, with full power or substitution in such
person's name, place and stead, in any and all capacities to sign any
amendments to this Registration Statement on Form S-8 and to file the same,
with all exhibits thereto, and other documents in connection therewith, with
the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorneys-in-fact, or their substitute or substitutes, may lawfully
do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated below on this 13 day of May 2004.
SIGNATURE
TITLE
/s/ Jaime W. Ellertson
Chief Executive Officer and a Director
(Principal Executive Officer)
Jaime W. Ellertson
/s/ Matthew Hale
Chief Financial Officer
(Principal Financial Officer
Matthew Hale
and Principal Accounting Officer)
/s/ James S. Mahan, III
Chairman of the Board
James S. Mahan, III
/s/ David C. Hodgson
Director
David C. Hodgson
/s/ M. Douglas Ivester
Director
M. Douglas Ivester
/s/ Gregory J. Owens
Director
Gregory J. Owens
/s/ Howard J. Runnion, Jr.
Director
Howard J. Runnion, Jr.
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EXHIBIT INDEX
Exhibit
No.
Exhibit
4.1
Amended and Restated
Certificate of
Incorporation of S1
Corporation ("S1") (filed
as Exhibit 1 to S1's
Registration Statement on
Form 8-A filed with the
Securities and Exchange
Commission (the "SEC") on
September 30, 1998 and
incorporated herein by
reference).
4.2
Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
June 3, 1999 (filed as
Exhibit 4.2 to S1's
Registration Statement on
Form S-8 (File No.
333-82369) filed with the
SEC on July 7, 1999 and
incorporated herein by
reference).
4.3
Certificate of Amendment
of Amended and Restated
Certificate of
Incorporation of S1 dated
November 10, 1999 (filed
as Exhibit 3.3 to S1's
Annual Report on Form
10-K for the fiscal year
ended December 31, 1999
and incorporated herein
by reference).
4.4
Certificate of
Designation for S1's
Series B Redeemable
Convertible Preferred
Stock (filed as Exhibit 2
to S1's Registration
Statement on Form 8-A
filed with the SEC on
September 30, 1998 and
incorporated herein by
reference).
4.5
Certificate of
Designation for S1's
Series C Redeemable
Convertible Preferred
Stock (filed as Exhibit 3
to S1's Quarterly Report
on Form 10-Q for the
quarterly period ended
March 31, 1999 and
incorporated herein by
reference).
4.6
Certificate of
Designations for S1's
Series D Convertible
Preferred Stock (filed as
Exhibit 3 to S1's Current
Report on Form 8-K filed
with the SEC on June 7,
2000 and incorporated
herein by reference).
4.7
Certificate of
Designations for S1's
Series E Convertible
Preferred Stock (filed as
Exhibit 3 to S1's
Registration Statement on
Form S-8 (File No.
333-72250) filed with the
SEC on October 26, 2001
and incorporated herein
by reference).
4.8
Amended and Restated
Bylaws of S1, as amended
(filed as Exhibit 4.7 to
S1's Post-Effective
Amendment No. 1 to Form
S-8 Registration
Statement (File No.
333-82383) filed with the
SEC on August 9, 2000 and
incorporated herein by
reference).
4.9
Specimen certificate for
S1's common stock (filed
as Exhibit 4 to S1's
Quarterly Report on Form
10-Q for the quarterly
period ended March 31,
2000 and incorporated
herein by reference).
4.10
Specimen certificate for
S1's Series B Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.3 to S1's Annual Report
on Form 10-K for the
fiscal year ended
December 31, 1998 and
incorporated herein by
reference).
4.11
Specimen certificate for
S1's Series C Redeemable
Convertible Preferred
Stock (filed as Exhibit
4.10 to S1's
Post-Effective Amendment
No. 1 to Form S-8
Registration Statement
(File No. 333-82383)
filed with the SEC on
August 9, 2000 and
incorporated herein by
reference).
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Exhibit
No.
Exhibit
4.12
Specimen certificate for
S1's Series D Convertible
Preferred Stock (filed as
Exhibit 4 to S1's Current
Report on Form 8-K filed
with the SEC on June 7,
2000 and incorporated
herein by reference).
4.13
Specimen certificate for
S1's Series E Convertible
Preferred Stock (filed as
Exhibit 4.2 to S1's
Registration Statement on
Form S-3 (File No.
333-75178) filed with the
SEC on December 14, 2001
and incorporated herein
by reference).
5
Opinion of Richard P. Dobb, Esq. as to the legality of the securities
registered hereunder, including the consent of Mr. Dobb.
23.1
Consent of Mr. Dobb (included in Item 5).
23.2
Consent of PricewaterhouseCoopers LLP.
24
Power of Attorney (included on signature page).
99.1
2003 Stock Incentive Plan (incorporated by reference from S1's Proxy
Statement for the 2003 annual meeting of stockholders filed with the SEC
on April 28, 2003).
8