In case anyone forgot/deleted the email notification regarding severance package I have copied and pasted the contents below.
Dear Employee,
As you may know, DST Systems, Inc. (the "Company") has entered into an agreement and plan of merger, dated as of January 11, 2018, with SS&C Technologies Holdings, Inc. and Diamond Merger Sub, Inc. (the "Merger Agreement"), pursuant to which, at the Effective Time (as defined in the Merger Agreement), the Company will merge with and into Diamond Merger Sub, Inc. on the terms and conditions set forth in the Merger Agreement (the "Merger"), and following the Merger, the Company will be a subsidiary of SS&C Technologies Holdings, Inc.
As an "Eligible Employee" under the DST Systems, Inc. Employee Severance Plan (the "Plan"), if you incur a "Qualifying Termination" (as defined in the Plan) you will receive a cash payment equal to the sum of: (i) 2 weeks of base salary for each year of service, subject to a minimum of 4 weeks' base salary and a maximum of 52 weeks' base salary, plus (ii) 6 months of the Company's monthly contributions toward your health insurance premiums (if you participate in Company health insurance plans), in each case, as set forth in and subject to the terms and conditions of the Plan in all respects.
The Company's Compensation Committee has determined to amend the Plan to provide for enhanced severance benefits in the event of an Eligible Employee's Qualifying Termination following the Merger. Accordingly, on February 23, 2018, the Compensation Committee approved the amendment to the Plan linked as Exhibit A hereto, effective immediately, to increase the minimum amount of base salary payable upon a Qualifying Termination that occurs within one year following the Merger to 20 weeks' base salary for Eligible Employees who are level L5 (Vice President), and 10 weeks' base salary for all other Eligible Employees. The remaining terms and conditions of the Plan shall continue in full force and effect. To access the Plan, please click here.
This non-binding cover letter is for descriptive purposes only, is not a part of the Plan and does not constitute an amendment and/or a summary of material modifications to the Plan or a summary plan document, and is subject in all respects to the terms and conditions of the Plan (as amended by the resolution attached as Exhibit A hereto). In the event of any conflict between this cover letter and the terms and conditions of the Plan, the terms and conditions of the Plan (including Exhibit A hereto) shall govern.
If you have any questions about this matter, please feel free to contact the DST People Center at 1-800-874-0174 or peoplecenter@dstsystems.com.
Thank you for your continued service and dedication to the Company!
Mary B. Meacham
Vice President HR | Associate Relations | DST Systems, Inc.
o 816.843.6729 e mbmeacham@dstsystems.com w dstsystems.com