<PAGE>

                                                                   EXHIBIT 10.34


              COMPENSATORY ARRANGEMENTS WITH NON-EMPLOYEE DIRECTORS


         Each non-employee director of Open Solutions Inc. (the "Company") is
paid an annual retainer consisting of (i) $15,000 in cash and (ii) restricted
stock units granted pursuant to Section 7 of the Company's 2003 Stock Incentive
Plan with an initial value of $15,000. The number of restricted stock units
granted is determined by dividing $15,000 by the last sale price of the
Company's common stock on the Nasdaq National Market on the date of grant. The
restricted stock units vest on the earlier of (i) the date on which the
non-employee director leaves the Board, (ii) the ninth anniversary of the
January 1 immediately following the date of grant, (iii) the death or disability
of the non-employee director and (iv) a change in ownership or effective control
of the Company. Each non-employee director may elect annually to receive all or
part of the cash portion of the annual retainer in the form of restricted stock
units as described above.

         Each non-employee director also receives an amount equal to $1,000 for
each Board meeting that the non-employee director personally attends, or $750
for each Board meeting that the non-employee director participates in by
telephone. In addition, each non-employee director who serves on the Audit
Committee receives a retainer of $10,000 per year, each non-employee director
who serves on the Compensation Committee receives a retainer of $7,500 per year
and each non-employee director who serves on the Nominations Committee receives
a retainer of $5,000 per year. The chairman of the Audit Committee receives an
additional $10,000 per year, the chairman of the Compensation Committee receives
an additional $7,500 per year and the chairman of the Nominations Committee
receives an additional $5,000 per year. In addition, the lead director receives
a retainer of $30,000 per year.

         Each non-employee director also receives (i) upon initial election to
the Board and upon any reelection to the Board at an Annual Meeting of
Stockholders, 5,000 shares of restricted stock of the Company and an option to
purchase 15,000 shares of the Company's common stock, (ii) on the date of the
2006 Annual Meeting of Stockholders, 1,667 shares of restricted stock of the
Company and an option to purchase 5,000 shares of the Company's common stock
(except for Douglas Anderson, Samuel McKay, Carlos Naudon and Richard Yanak, who
will each receive 2,500 shares of restricted stock of the Company and an option
to purchase 7,500 shares of the Company's common stock because they did not
receive an annual grant at the 2005 Annual Meeting of Stockholders) and (iii) on
the date of each Annual Meeting of Stockholders after the 2006 Annual Meeting of
Stockholders, 1,667 shares of restricted stock of the Company and an option to
purchase 5,000 shares of the Company's common stock. Such restricted stock will
vest in five equal annual installments beginning on the first anniversary of the
date of grant. The stock options will have an exercise price equal to the last
sale price of the Company's common stock on the Nasdaq National Market on the
date of grant. One-third of the shares of common stock underlying each option
will vest on the first anniversary of the date of grant, and the remaining
shares will vest monthly thereafter over a two-year period.

         The Company reimburses its non-employee directors for reasonable
out-of-pocket expenses incurred in attending Board or committee meetings. No
director who is an employee of the Company receives separate compensation for
services rendered as a director.