SunGard Data Systems Inc. Outside Director Stock in Lieu of Cash Fees Program Summary
SunGard Data Systems Inc. offers a program allowing its outside directors to choose to receive company stock instead of cash for their board service fees. Directors must make this election in writing; otherwise, they are paid in cash. Shares are issued quarterly, based on the stock's closing price at each board meeting. The plan started in June 2001, with 50,000 shares set aside for this purpose.
EXHIBIT 10.30
SUNGARD DATA SYSTEMS INC.
SUMMARY DESCRIPTION OF THE COMPANY’S
STOCK IN LIEU OF DIRECTOR CASH COMPENSATION PLAN
SunGard Data Systems Inc. has a plan that permits outside directors to elect to receive shares of SunGard common stock in lieu of cash compensation. Unless an outside director elects in writing to receive shares in lieu of cash compensation, all fees are paid in cash. If an outside director elects to receive shares in lieu of cash compensation, then the shares are issued on a quarterly basis based upon the closing price of SunGard’s common stock on the date of each quarterly board meeting. This plan became effective in June 2001 with 50,000 shares reserved for issuance.
