DST Systems Inc. (NYSE: DST) is a software development firm that specializes in information processing and management, with the goal of improving efficiency, productivity, and customer service. DST was founded in 1969 as a division of Kansas City Southern Industries, and is currently headquartered near Kansas City Southern's headquarters on Quality Hill in Kansas City, Missouri.
DST Systems Inc. produces the AWD, or Automated Work Distributor, software package, which is a business process management solution. Its primary purpose is to increase back-office efficiency through workflow and imaging. It also helps to reduce paper in the office, moving businesses towards the paperless office.
DST Systems, Inc. is headed by CEO Thomas McDonnell, President Steve Hooley, and CFO Kenneth Hager. Internationally, many of DST Systems products are sold by its subsidiary DST Global Solutions.
(a) EQUITY PLAN PARTICIPATION. Executive shall be entitled to
participate in the 2005 Plan in accordance with the terms thereof, at a level
consistent with DST's practice regarding awards to senior executive officers.
Awards under the 2005 Plan are granted in the discretion of the DST Board or
Compensation Committee or other appropriate committee of the DST Board. It is
understood that Executive will not be granted an equity award for any period
prior to 2010, except for any Annual Incentive.
(b) INCENTIVE, SAVINGS AND RETIREMENT PLANS. In addition to Base
Salary and an Annual Incentive, Executive shall be entitled to participate
during his employment hereunder in all incentive, savings and retirement plans,
practices, policies and programs, whether or not qualified under Section 401(a)
of the Internal Revenue Code of 1986, as amended (the "Code"), that are from
time to time applicable to other senior executives of DST in accordance with
their terms as in effect from time to time.
(c) WELFARE BENEFITS. During the Employment Period, Executive and/or
his family, as the case may be, shall be eligible for participation in and shall
receive all benefits under welfare benefit plans, practices, policies and
programs provided by DST (including medical, prescription, dental, disability,
salary continuance, employee life, group life, dependent life, accidental death
and travel accident insurance plans and programs) generally applicable to other
senior executives of DST in accordance with their terms (including limitations
on eligibility) as in effect from time to time. DST reserves the right to
change, revoke or terminate any welfare benefit plan, practice, policy or
program at any time.
(d) FRINGE BENEFITS. During the Employment Period, Executive shall be
entitled to fringe benefits applicable to other senior executives of DST.
(e) VACATION. During the Employment Period, Executive shall be
entitled to paid vacation time in accordance with the DST's plans, practices,
policies, and programs, but in no event shall such vacation time be less than
four weeks per calendar year.
(f) EXPENSES. During the Employment Period, Executive shall be
entitled to receive prompt reimbursement for all ordinary and necessary business
expenses incurred by Executive, upon the receipt by DST of an accounting in
accordance with practices, policies and procedures of DST.
<PAGE>
4. TERMINATION.
(a) TERMINATION BY EXECUTIVE. Executive may terminate this Agreement
and his employment hereunder by at least thirty (30) days advance written notice
to DST, except that in the event of any material breach of this Agreement by
DST, Executive may terminate this Agreement and his employment hereunder
immediately upon notice to DST.
(b) DEATH OR DISABILITY. This Agreement and Executive's employment
hereunder shall terminate automatically on the death or disability of Executive.
For purposes of this Agreement, Executive shall be deemed to be disabled if, by
reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period
of not less than 12 months, Executive is receiving or is reasonably expected to
receive income replacement benefits for a period of not less than 3 months under
an accident and health plan that covers him (or, if he is not covered, that
covers DST's employees).
DST has certain prescribed accounting and reporting procedures, including procedures
for expense account and other payment systems, which Associates must follow. DST
and its Associates shall comply with applicable laws and regulations regarding
retention of records, and Associates are expected to become familiar with and adhere
to any DST policy regarding records retention that is applicable to the records in their
custody, care or control. Associates are to notify the DST Legal Department at
816/435-8655 if they learn of a subpoena or pending, imminent or contemplated
litigation or government investigation and, until notice or direction from the DST
Legal Department, shall not destroy, pursuant to a records policy or otherwise, any
records that are or may be relevant to such subpoena, litigation or investigation.
DST requires compliance with Generally Accepted Accounting Principles and DST’s
internal accounting and auditing controls. Associates must maintain and present
DST’s accounting and financial records, as well as reports produced from those
records, in accordance with the laws of each applicable jurisdiction. Such records and
reports must accurately and fairly reflect, in reasonable detail, DST’s assets, liabilities,
revenues and expenses. All transactions must be recorded in the proper accounting
period and be supported by reasonably detailed documentation.
In all accounting records and reports as well as supporting documentation, Associates
must accurately reflect and describe corporate transactions. Associates must not
falsify or alter the recordation of data to conceal or distort assets, liabilities, revenues,
expenses, or performance measures.
DST strives to make full, fair, accurate, timely and understandable disclosures in
public communications and in documents filed with or submitted to the U.S.
Securities and Exchange Commission.
DST Output Ltd are experts in the creation and production of essential communications such as bills and credit card statements - in paper or electronic formats - enabling businesses to reduce costs, increase response rates and maximize customer retention and loyalty.
Once an internal division of GE Mailing Services, the company was acquired by the US based DST Systems in 2002. DST Output Ltd is based in Bristol and now produces over 150 million personalised communications every year in the UK alone.
Since its acquisition in 2002 DST Output Ltd has grown rapidly with a turnover of £25 million in 2008. The business has also increased its client base significantly, servicing approximately 30 major accounts, including major names such as Orange. The size of the workforce has also increased from approximately 130 in 2003 to almost 200 in 2009.
The culture within the business has developed as the company has grown. It has changed from that of an internal service provider to one where it actively seeks to add value on behalf of its customers through innovation, technology and a commitment to excellent customer service.
DST Systems Inc. produces the AWD, or Automated Work Distributor, software package, which is a business process management solution. Its primary purpose is to increase back-office efficiency through workflow and imaging. It also helps to reduce paper in the office, moving businesses towards the paperless office.
DST Systems, Inc. is headed by CEO Thomas McDonnell, President Steve Hooley, and CFO Kenneth Hager. Internationally, many of DST Systems products are sold by its subsidiary DST Global Solutions.
(a) EQUITY PLAN PARTICIPATION. Executive shall be entitled to
participate in the 2005 Plan in accordance with the terms thereof, at a level
consistent with DST's practice regarding awards to senior executive officers.
Awards under the 2005 Plan are granted in the discretion of the DST Board or
Compensation Committee or other appropriate committee of the DST Board. It is
understood that Executive will not be granted an equity award for any period
prior to 2010, except for any Annual Incentive.
(b) INCENTIVE, SAVINGS AND RETIREMENT PLANS. In addition to Base
Salary and an Annual Incentive, Executive shall be entitled to participate
during his employment hereunder in all incentive, savings and retirement plans,
practices, policies and programs, whether or not qualified under Section 401(a)
of the Internal Revenue Code of 1986, as amended (the "Code"), that are from
time to time applicable to other senior executives of DST in accordance with
their terms as in effect from time to time.
(c) WELFARE BENEFITS. During the Employment Period, Executive and/or
his family, as the case may be, shall be eligible for participation in and shall
receive all benefits under welfare benefit plans, practices, policies and
programs provided by DST (including medical, prescription, dental, disability,
salary continuance, employee life, group life, dependent life, accidental death
and travel accident insurance plans and programs) generally applicable to other
senior executives of DST in accordance with their terms (including limitations
on eligibility) as in effect from time to time. DST reserves the right to
change, revoke or terminate any welfare benefit plan, practice, policy or
program at any time.
(d) FRINGE BENEFITS. During the Employment Period, Executive shall be
entitled to fringe benefits applicable to other senior executives of DST.
(e) VACATION. During the Employment Period, Executive shall be
entitled to paid vacation time in accordance with the DST's plans, practices,
policies, and programs, but in no event shall such vacation time be less than
four weeks per calendar year.
(f) EXPENSES. During the Employment Period, Executive shall be
entitled to receive prompt reimbursement for all ordinary and necessary business
expenses incurred by Executive, upon the receipt by DST of an accounting in
accordance with practices, policies and procedures of DST.
<PAGE>
4. TERMINATION.
(a) TERMINATION BY EXECUTIVE. Executive may terminate this Agreement
and his employment hereunder by at least thirty (30) days advance written notice
to DST, except that in the event of any material breach of this Agreement by
DST, Executive may terminate this Agreement and his employment hereunder
immediately upon notice to DST.
(b) DEATH OR DISABILITY. This Agreement and Executive's employment
hereunder shall terminate automatically on the death or disability of Executive.
For purposes of this Agreement, Executive shall be deemed to be disabled if, by
reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period
of not less than 12 months, Executive is receiving or is reasonably expected to
receive income replacement benefits for a period of not less than 3 months under
an accident and health plan that covers him (or, if he is not covered, that
covers DST's employees).
DST has certain prescribed accounting and reporting procedures, including procedures
for expense account and other payment systems, which Associates must follow. DST
and its Associates shall comply with applicable laws and regulations regarding
retention of records, and Associates are expected to become familiar with and adhere
to any DST policy regarding records retention that is applicable to the records in their
custody, care or control. Associates are to notify the DST Legal Department at
816/435-8655 if they learn of a subpoena or pending, imminent or contemplated
litigation or government investigation and, until notice or direction from the DST
Legal Department, shall not destroy, pursuant to a records policy or otherwise, any
records that are or may be relevant to such subpoena, litigation or investigation.
DST requires compliance with Generally Accepted Accounting Principles and DST’s
internal accounting and auditing controls. Associates must maintain and present
DST’s accounting and financial records, as well as reports produced from those
records, in accordance with the laws of each applicable jurisdiction. Such records and
reports must accurately and fairly reflect, in reasonable detail, DST’s assets, liabilities,
revenues and expenses. All transactions must be recorded in the proper accounting
period and be supported by reasonably detailed documentation.
In all accounting records and reports as well as supporting documentation, Associates
must accurately reflect and describe corporate transactions. Associates must not
falsify or alter the recordation of data to conceal or distort assets, liabilities, revenues,
expenses, or performance measures.
DST strives to make full, fair, accurate, timely and understandable disclosures in
public communications and in documents filed with or submitted to the U.S.
Securities and Exchange Commission.
DST Output Ltd are experts in the creation and production of essential communications such as bills and credit card statements - in paper or electronic formats - enabling businesses to reduce costs, increase response rates and maximize customer retention and loyalty.
Once an internal division of GE Mailing Services, the company was acquired by the US based DST Systems in 2002. DST Output Ltd is based in Bristol and now produces over 150 million personalised communications every year in the UK alone.
Since its acquisition in 2002 DST Output Ltd has grown rapidly with a turnover of £25 million in 2008. The business has also increased its client base significantly, servicing approximately 30 major accounts, including major names such as Orange. The size of the workforce has also increased from approximately 130 in 2003 to almost 200 in 2009.
The culture within the business has developed as the company has grown. It has changed from that of an internal service provider to one where it actively seeks to add value on behalf of its customers through innovation, technology and a commitment to excellent customer service.
Last edited: