X0303 4 2010-06-17 0 0000888953 ONLINE RESOURCES CORP ORCC 0001298365 Cowan Joseph L C/O ONLINE RESOURCES 4795 MEADOW WOOD LANE CHANTILLY VA 20151 1 1 0 0 Chief Executive Officer Common Stock 2010-06-17 2010-06-17 4 A 0 107066 4.67 A 107066 D Stock Options 4.67 2010-06-17 2010-06-17 4 A 0 266080 4.67 A 2017-06-17 Common Stock 266080 266080 D Restricted Stock Units 0.00 2010-06-17 2010-06-17 4 A 0 214132 0.00 A Common Stock 214132 214132 D Restricted Stock Units 0.00 2010-06-17 2010-06-17 4 A 0 107066 0.00 A Common Stock 107066 107066 D This transaction is a private sale from the Company to Mr. Cowan and is exempt from Section 16(b) of the Act pursuant to Rule 16b-3(d)(1). These awards were granted outside of the Company's Amended and Restated 2005 Restricted Stock and Option Plan in accordance with NASDAQ Listing Rule 5635(c)(4) as an inducement to Mr. Cowan's entry into employment with the Company. The options vest equally on 6/15/2011, 6/15/2012, 6/15/2013 and 6/15/2014. The restricted stock units vest equally on 6/15/2011, 6/15/2012, 6/15/2013 and 6/15/2014. Not applicable. All restricted stock units will vest 3/17/2011. /s/ Joseph L. Cowan 2010-06-21