Document:

EX-4.1

 Exhibit 4.1 

American Software, Inc. 

2011 Equity Compensation Plan 

1. Purpose of the Plan. The purpose of the 2011 Equity Compensation Plan (the “Plan”) is to aid American Software,
Inc., a Georgia corporation (“Company”), and its Affiliates (defined below) in recruiting and retaining key employees, directors, consultants and other service providers of outstanding ability and to motivate such employees,
directors, consultants and other service providers to exert their best efforts on behalf of Company and its Affiliates by providing incentives through the granting of Awards (defined below). Company expects that it will benefit from the added
interest which such key employees, directors, consultants and other service providers will have in the welfare of Company as a result of their proprietary interest in Company’s success. 

2. Definitions. The following capitalized terms used in the Plan have the respective meanings set forth in this Section 2:

 “Act” means the Securities Exchange Act of 1934, as amended, or any successor thereto. 

“Affiliate” means with respect to Company, any entity directly or indirectly controlling, controlled by, or under common
control with, Company or any other entity designated by the Board in which Company or an Affiliate has an interest. 

“Award” means an Option or Stock Appreciation Right granted pursuant to the Plan. 

“Board” means the Board of Directors of Company. 

“Change of Control” means any event which is a “change in control event” as defined in Treasury Regulation
Section 1.409A-3(i)(5) or any subsequent regulation or authoritative governmental interpretation of Section 409A(a)(2)(A)(v) of the Code, including any amendments thereto. To the extent consistent with such definition, a “Change of
Control” means a transaction or a series of transactions occurring within any single 12-month period in which: 
 (i) any one Person,
or more than one Person acting as a group, acquires ownership of stock of Company that, together with stock held by such Person or group, constitutes Majority Shareholder Voting Power, taking into account all such stock acquired during the 12-month
period ending on the date of the most recent acquisition; 
 (ii) a majority of the members of the Board is replaced during any 12-month
period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or 

(iii) any one Person, or more than one Person acting as a group, other than a Person or group of persons that is related to Company, acquires
assets from Company that have a total gross fair market value equal to or more than 75% of the total gross fair market value of all of the assets of Company immediately prior to such acquisition or acquisitions, taking into account all such assets
acquired during the 12-month period ending on the date of the most recent acquisition. 

  
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 Notwithstanding the foregoing, a “Change in Control” shall not include any
transaction or a series of transactions in which the Class B Common Shares of the Company held by any person holding such shares as of the Effective Date are transferred to one or more members of his immediate family, to an entity controlled by any
such family member or members or a trust for the benefit of any such family member or members. Further, a “Change in Control” shall not include any transaction or a series of transactions in any acquisition of stock or assets by a
Person who owns Majority Shareholder Voting Power prior to such transaction or series of transactions. 
 “Code” means the
Internal Revenue Code of 1986, as amended, or any successor thereto. 
 “Committee” means the Stock Option Committee of the
Board, or such other committee of the Board (including, without limitation, the full Board) to which the Board has delegated full or partial power to act under or pursuant to the provisions of the Plan. 

“Company” has the meaning set forth in Section 1. 

“Disability” means Disability as defined for purposes of Section 409A of the Code. In a dispute, the Disability
determination shall be in the sole discretion of the Committee and a Participant (or his representative) shall furnish the Committee with medical evidence documenting the Participant’s disability or infirmity which is satisfactory to the
Committee. 
 “Effective Date” means May 17, 2010 (the date the Board approved the Plan). The effectiveness of the
Plan and the validity of any and all Awards granted hereunder are contingent upon approval of the Plan by the requisite vote of the shareholders of Company in a manner which complies with Section 422(b)(1) of the Code, the requirements of any
national securities exchange on which such Shares are listed or admitted to trading and the provisions of the corporate charter, bylaws and applicable state law of Company. 

“Employment” means (i) a Participant’s employment if the Participant is an employee of Company or any of its
Affiliates, (ii) a Participant’s service as a consultant or other service provider, if the Participant is a consultant or other service provider to Company or its Affiliates, and (iii) a Participant’s service as an non-employee
director, if the Participant is a non-employee member of the Board. 
 “Fair Market Value” means, on a given date,
(i) if there should be a public market for the Shares on such date, the closing price of the Shares as reported on such date on the composite tape of the principal national securities exchange on which such Shares are listed or admitted to
trading, or, if no composite tape exists for such national securities exchange on such date, then the closing price on the principal national securities exchange on which such Shares are listed or admitted to trading, or, (ii) if the Shares are
not listed or admitted to trading or quotation on a national securities exchange, the arithmetic mean of the per Share closing bid price and per Share closing asked price on such date as quoted on the National Association of Securities Dealers
Automated Quotation System (or such market in which such prices are regularly quoted), or 

  
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(iii) if there is no market on which the Shares are regularly quoted, the Fair Market Value shall be the value established by the Committee in good faith pursuant to the reasonable application of
a reasonable valuation method under Treasury Regulation Section 1.409A-1(b)(5)(iv)(B). With respect to (i) and (ii) above, if no sale of Shares shall have been reported on such composite tape or such national securities exchange on
such date or quoted on the National Association of Securities Dealer Automated Quotation System on such date, then the immediately preceding date on which sales of the Shares have been so reported or quoted shall be used. 

“ISO” means an Option that is also an incentive stock option granted pursuant to Section 6(d). 

“Majority Shareholder Voting Power” means either (i) with respect to the election of members of the Board by the
shareholders of Company, the ability to elect a majority of the Board, or (ii) with respect to all other matters, more than 50% of the total voting power of the stock of Company, in both cases taking into account the relative voting power of
the Shares and Company’s Class B Common Shares. 
 “Option” means a stock option granted pursuant to
Section 6. 
 “Option Price” means the purchase price per Share of an Option, as determined pursuant to
Section 6(a). 
 “Participant” means an employee, director, consultant or other service provider of Company or
any of its Affiliates who is selected by the Committee to participate in the Plan. 
 “Permitted Holder” means, as of the
date of determination, any and all of an employee benefit plan (or trust forming a part thereof) maintained by (i) Company, or (ii) any corporation or other Person of which a majority of its voting power of its voting equity securities or
equity interest is owned, directly or indirectly, by Company. 
 “Person” means a “person”, as such term is used
for purposes of Section 13(d) or 14(d) of the Act (or any successor section thereto). 
 “Plan” has the meaning set
forth in Section 1. 
 “Shares” means Company’s Class A Common Shares. 

“Stock Appreciation Right” means a stock appreciation right granted pursuant to Section 7. 

“Subsidiary” means a subsidiary corporation, as defined in Section 424(f) of the Code (or any successor section
thereto). 
 3. Shares Subject to the Plan. Subject to Section 8, the total number of Shares which may be issued under
the Plan is 2,500,000 and the maximum number of Stock Appreciation Rights that may be granted is 500,000. The Shares may consist, in whole or in part, of unissued Shares or treasury Shares. The issuance of Shares or the payment of cash upon the
exercise of an Award or in consideration of the cancellation or termination of an Award shall reduce the total number of Shares available under the Plan, as applicable. Shares subject to Awards that terminate or lapse without the payment of
consideration may be granted again under the Plan. 

  
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 4. Administration. The Plan shall be administered by the Committee. The Committee is
authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make any other determinations that it deems necessary or advisable for the administration of the Plan. The Committee may correct
any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or advisable. Any decision of the Committee in the interpretation and administration of the Plan, as described
herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, Participants and their beneficiaries or successors). The Committee shall have the full
power and authority to establish the terms and conditions of any Award consistent with the provisions of the Plan and to waive any such terms and conditions at any time (including, without limitation, accelerating or waiving any vesting conditions).
Determinations made by the Committee under the Plan need not be uniform and may be made selectively among Participants, whether or not such Participants are similarly situated. Awards may, in the discretion of the Committee, be made under the Plan
in assumption of, or in substitution for, outstanding awards previously granted by Company, any of its Affiliates or any of their respective predecessors, or any entity acquired by Company or with which Company combines. The number of Shares
underlying such substitute awards shall be counted against the aggregate number of Shares available for Awards under the Plan. The Committee shall require payment of any minimum amount it may determine to be necessary to withhold for federal, state,
local or other taxes as a result of the exercise, vesting or grant of an Award. Unless the Committee specifies otherwise, the Participant may elect to pay a portion or all of such minimum withholding taxes by (i) delivery in Shares, or
(ii) having Shares withheld by Company from any Shares that would have otherwise been received by the Participant. The number of Shares so delivered or withheld shall have an aggregate Fair Market Value sufficient to satisfy the applicable
minimum withholding taxes. 
 5. Limitations. No Award may be granted under the Plan after the tenth anniversary of the Effective
Date, but Awards theretofore granted may extend beyond that date. 
 6. Terms and Conditions of Options. Options granted under the
Plan shall be, as determined by the Committee, non-qualified or incentive stock options for federal income tax purposes, as evidenced by the related Award agreements, and shall be subject to the foregoing and the following terms and conditions and
to such other terms and conditions, not inconsistent therewith, as the Committee shall determine: 
 (a) Option Price. The Option
Price per Share shall be determined by the Committee, but shall not be less than 100% of the Fair Market Value of a Share on the date an Option is granted (other than in the case of Options granted in assumption or substitution of previously granted
awards, as described in Section 4; provided that such assumption or substitution is described in Treasury Regulation Section 1.409A-1(b)(5)(v)(D)). 

  
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 (b) Exercisability. Options granted under the Plan shall be exercisable at such time and
upon such terms and conditions as may be determined by the Committee, but in no event shall an Option be exercisable more than ten years after the date it is granted. Each Award agreement shall set forth the extent to which the Participant shall
have the right to exercise the Option following termination of the Participant’s employment or service with Company or its Affiliates. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award
agreements, need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination. 

(c) Exercise of Options. Except as otherwise provided in the Plan or in an Award agreement, an Option may be exercised for all, or from
time to time any part, of the Shares for which it is then exercisable. For purposes of Section 6, the exercise date of an Option shall be the later of the date a notice of exercise is received by Company and, if applicable, the date
payment is received by Company pursuant to clause (i), (ii), (iii), (iv) or (v) in the following sentence. The purchase price for the Shares as to which an Option is exercised shall be paid to Company to the extent permitted by law,
(i) in cash or its equivalent (e.g., by personal check) at the time the Option is exercised, (ii) in Shares having a Fair Market Value equal to the aggregate Option Price for the Shares being purchased and satisfying such other
requirements as may be imposed by the Committee; provided, that such Shares have been held by the Participant for no less than six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting
treatment applying generally accepted accounting principles), (iii) partly in cash and partly in Shares (as described in (ii) above), (iv) if there is a public market for the Shares at such time, through the delivery of irrevocable
instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to Company an amount out of the proceeds of such sale equal to the aggregate Option Price for the Shares being purchased plus any and all
federal, state, or local taxes and any other levies of any kind required by law to be deducted or withheld with respect to the exercise of the Option, or (v) to the extent the Committee shall approve in the Award agreement, through “net
settlement” in Shares. In the case of a “net settlement” of an Option, Company will not require a cash payment of the Option Price of the Option set forth in the Award agreement, but will reduce the number of Shares issued upon the
exercise by the largest number of whole Shares that have a Fair Market Value that does not exceed the aggregate Option Price set forth in the Award agreement. With respect to any remaining balance of the aggregate Option Price, Company shall accept
a cash payment. No Participant shall have any rights to dividends or other rights of a shareholder with respect to Shares subject to an Option until the Participant has given written notice of exercise of the Option, paid in full for such Shares
and, if applicable, has satisfied any other conditions imposed by the Committee pursuant to the Plan. 
 (d) ISOs. The Committee may
grant Options under the Plan that are intended to be ISOs. Such ISOs shall comply with the requirements of Section 422 of the Code (or any successor section thereto). No ISO may be granted to any Participant who at the time of such grant, owns
more than 10% of the total combined voting power of all classes of stock of Company or of any Subsidiary, unless (i) the Option Price for such ISO is at least 110% of the Fair Market Value of a Share on the date the ISO is granted and
(ii) the date on which such ISO terminates is a date not later than the day preceding the fifth anniversary of the date on which the ISO is granted. Any Participant who disposes of Shares acquired upon the exercise of an ISO either
(i) within two years after the date of grant of such ISO or (ii) within one year after the transfer of such Shares to the Participant, shall notify Company of such disposition and of the 

  
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amount realized upon such disposition. All Options granted under the Plan are intended to be nonqualified stock options, unless the applicable Award agreement expressly states that the Option is
intended to be an ISO. If an Option is intended to be an ISO, and if for any reason such Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such non-qualification, such Option (or portion thereof) shall be regarded as a
nonqualified stock option granted under the Plan. In no event shall any member of the Committee, Company or any of its Affiliates (or their respective employees, officers or directors) have any liability to any Participant (or any other Person) due
to the failure of an Option to qualify for any reason as an ISO. 
 (e) Attestation. Wherever in this Plan or any agreement
evidencing an Award a Participant is permitted to pay the exercise price of an Option or taxes relating to the exercise of an Option by delivering Shares, the Participant may, subject to procedures satisfactory to the Committee, satisfy such
delivery requirement by presenting proof of beneficial ownership of such Shares, in which case Company shall treat the Option as exercised without further payment and/or shall withhold such number of Shares from the Shares acquired by the exercise
of the Option, as appropriate. 
 7. Terms and Conditions of Stock Appreciation Rights. 

(a) Grants. The Committee may also grant (i) a Stock Appreciation Right independent of an Option or (ii) a Stock Appreciation
Right in connection with an Option, or a portion thereof. A Stock Appreciation Right granted pursuant to clause (ii) of the preceding sentence (A) may be granted at the time the related Option is granted or at any time prior to the
exercise or cancellation of the related Option, (B) shall cover the same number of Shares covered by an Option (or such lesser number of Shares as the Committee may determine), and (C) shall be subject to the same terms and conditions as
such Option except for such additional limitations as are contemplated by this Section 7 (or such additional limitations as may be included in an Award agreement). 

(b) Terms. The exercise price per Share of a Stock Appreciation Right shall be an amount determined by the Committee but in no event
shall such amount be less than the Fair Market Value of a Share on the date the Stock Appreciation Right is granted (other than in the case of a Stock Appreciation Right granted in assumption or substitution of previously granted awards, as
described in Section 4; provided that such assumption or substitution is described in Treasury Regulation Section 1.409A-1(b)(5)(v)(D)); provided, however, that, in the case of a Stock Appreciation Right granted in conjunction with
an Option, or a portion thereof, the exercise price may not be less than the Option Price of the related Option. Each Stock Appreciation Right granted independent of an Option shall entitle a Participant upon exercise to an amount equal to the
product of (i) the excess of (A) the Fair Market Value on the exercise date of one Share over (B) the exercise price per Share, multiplied by (ii) the number of Shares covered by the Stock Appreciation Right. Each Stock
Appreciation Right granted in conjunction with an Option, or a portion thereof, shall entitle a Participant to surrender to Company the unexercised Option, or any portion thereof, and to receive from Company in exchange therefor an amount equal to
the product of (i) the excess of (A) the Fair Market Value on the exercise date of one Share over (B) the greater of the exercise price per Share or the Option Price per Share, multiplied by (ii) the number of Shares
covered by the Option, or portion thereof, which is 

  
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surrendered. The date on which a notice of exercise is received by Company shall be the exercise date. Payment shall be made in cash as set forth in the Award agreement. Stock Appreciation Rights
may be exercised from time to time upon actual receipt by Company of written notice of exercise stating the number of Shares with respect to which the Stock Appreciation Right is being exercised. 

(c) Limitations. The Committee may impose, in its sole discretion, such conditions upon the exercisability or transferability of Stock
Appreciation Rights as it may determine, but in no event shall a Stock Appreciation Right be exercisable more than ten years after the date it is granted. 

8. Adjustments upon Certain Events. Notwithstanding any other provisions in the Plan to the contrary, the following provisions shall
apply to all Awards granted under the Plan: 
 (a) Generally. In the event of any change in the outstanding Shares after the
Effective Date by reason of any Share dividend or split, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of Shares or other corporate exchange or change in capital structure, any distribution to
shareholders of Shares (other than regular cash dividends) or any similar event, the Committee without liability to any person shall make such substitution or adjustment, if any, as it deems to be equitable (subject to Section 15), as to
the number or kind of Shares or other securities issued or reserved for issuance as set forth in Section 3 or pursuant to outstanding Awards; provided that the Committee shall determine in its sole discretion the manner in which such
substitution or adjustment shall be made. 
 (b) Change of Control. In the event of a Change of Control (or similar corporate
transaction, whether or not including any Permitted Holder) after the Effective Date, the Committee may (subject to Section 15), but shall not be obligated to, (i) accelerate, vest or cause the restrictions to lapse with respect to
all or any portion of an Award, (ii) cancel such Awards for fair value (as determined in the sole discretion of the Committee) which, in the case of Options and Stock Appreciation Rights, may equal the excess, if any, of value of the
consideration to be paid in the Change of Control transaction to holders of the same number of Shares subject to such Options or Stock Appreciation Rights (or, if no consideration is paid in any such transaction, the Fair Market Value of the Shares
subject to such Options or Stock Appreciation Rights) over the aggregate exercise price of such Options or Stock Appreciation Rights, (iii) provide for the issuance of substitute Awards that will substantially preserve the otherwise applicable
terms of any affected Awards previously granted hereunder as determined by the Committee in its sole discretion, or (iv) provide that for a period of at least 10 days prior to the Change of Control, such Options shall be exercisable as to all
Shares subject thereto and that upon the occurrence of the Change of Control, such Options shall terminate and be of no further force or effect. For the avoidance of doubt, pursuant to (ii) above, the Committee may cancel Options and Stock
Appreciation Rights for no consideration if the aggregate Fair Market Value of the Shares subject to such Options or Stock Appreciation Rights is less than or equal to the aggregate Option Price of such Options or exercise price of such Stock
Appreciation Rights. 
 9. No Right to Employment or Awards. The granting of an Award under the Plan shall impose no obligation on
Company or any of its Affiliates to continue the Employment of a Participant and shall not lessen or affect Company’s or any of its Affiliates’ right to terminate the 

  
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Employment of such Participant. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants, or holders or
beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants are similarly
situated). 
 10. Successors and Assigns. The Plan shall be binding on all successors and assigns of Company and the Participants,
including, without limitation, the estate of each such Participant and the executor, administrator or trustee of such estate, and any receiver or trustee in bankruptcy or any other representative of the Participant’s creditors. 

11. Nontransferability of Awards. Unless otherwise determined by the Committee, an Award shall not be transferable or assignable by the
Participant otherwise than by will or by the laws of descent and distribution. An Award exercisable after the death of a Participant may be exercised by the legatees, personal representatives or distributees of the Participant. 

12. Amendments or Termination. The Committee may amend, alter or discontinue the Plan, but no amendment, alteration or discontinuation
shall be made which, (a) without the approval of the shareholders of Company, would (except as is provided in Section 8) increase the total number of Shares reserved for the purposes of the Plan or change the maximum number of
Shares for which Awards may be granted to any Participant, or (b) without the consent of a Participant, would materially adversely impair any of the rights under any Award theretofore granted to such Participant under the Plan; provided,
however, that the Committee may amend the Plan in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the Code or other applicable laws (including, without limitation, to avoid adverse tax consequences to
Company or any Participant). 
 Without limiting the generality of the foregoing, to the extent applicable, notwithstanding anything herein
to the contrary, this Plan and Awards issued hereunder shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any
such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision herein to the contrary, in the event the Committee determines that any amounts payable hereunder will be taxable to a Participant under
Section 409A of the Code and related Department of Treasury guidance prior to payment to such Participant of such amount, Company may (i) adopt such amendments to the Plan and Awards and appropriate policies and procedures, including
amendments and policies with retroactive effect, that the Committee determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Plan and Awards hereunder, and/or (ii) take such other actions as the
Committee determines necessary or appropriate to avoid the imposition of an additional tax under Section 409A of the Code. 
 13.
Choice of Law. The Plan shall be governed by and construed in accordance with the laws of the State of Georgia without regard to conflicts of laws. 

14. Effectiveness of Plan. The Plan shall be effective as of the Effective Date, subject to the approval of Company’s
shareholders, as provided in Section 2 in the definition of “Effective Date.” 

  
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 15. Section 409A. Notwithstanding other provisions of the Plan or any Award
agreements thereunder, no Award shall be granted, deferred, accelerated, extended, paid out or modified under this Plan in a manner that would result in the imposition of an additional tax under Section 409A of the Code upon a Participant. In
the event that it is reasonably determined by the Committee that, as a result of Section 409A of the Code, any payment or delivery of Shares in respect of any Award under the Plan may not be made at the time contemplated by the terms of the
Plan or the relevant Award agreement, as the case may be, without causing the Participant holding such Award to be subject to taxation under Section 409A of the Code, Company will make such payment or delivery of Shares on the first day that
would not result in the Participant incurring any tax liability under Section 409A of the Code. In the case of a Participant who is a “specified employee” (within the meaning of Section 409A(a)(2)(B)(i) of the Code), any payment
and/or delivery of Shares in respect of any Award subject to Section 409A of the Code that is linked to the date of the Participant’s separation from service shall not be made prior to the date which is six (6) months after the date
of such Participant’s separation from service from Company and its Affiliates, determined in accordance with Section 409A of the Code and the regulations promulgated thereunder. Company shall use commercially reasonable efforts to
implement the provisions of this Section 15 in good faith; provided that neither Company, the Committee nor any of Company’s employees, directors or representatives shall have any liability to Participants with respect to this
Section 15. 

  
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 FIRST AMENDMENT TO THE 

AMERICAN SOFTWARE, INC. 

2011 EQUITY COMPENSATION PLAN 

1. Section 3 of the Plan is removed and replaced with the following: 

“Subject to Section 8, the total number of Shares which may be issued under the Plan is 3,700,000 and the maximum number of Stock
Appreciation Rights that may be granted is 500,000. The Shares may consist, in whole or in part, of unissued Shares or treasury Shares. The issuance of Shares or the payment of cash upon the exercise of an Award or in consideration of the
cancellation or termination of an Award shall reduce the total number of Shares available under the Plan, as applicable. Shares subject to Awards that terminate or lapse without the payment of consideration may be granted again under the Plan.”

 2. This Amendment was approved by the Board of Directors on May 15, 2013, by the shareholders of the Company on August 19,
2013. 
 3. Except as amended herein, the Plan shall remain in full force and effect. 

4. All capitalized terms used and not otherwise defined in this Amendment have the same meanings ascribed to them in the Plan. 

  
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 THIRD AMENDMENT TO THE 

AMERICAN SOFTWARE, INC. 

2011 EQUITY COMPENSATION PLAN 

WHEREAS, American Software, Inc. (the “Company”) has previously adopted the American Software, Inc. 2011 Equity Compensation Plan,
as amended (the “Plan”), reserving the right therein to amend the Plan; and 
 WHEREAS, the Board of Directors of the Company has
deemed it advisable and in the best interest of the Company that the Plan be amended to require shareholder approval prior to the repricing of previously granted awards; 

NOW, THEREFORE, subject to the approval of the shareholders of the Company, the Plan is hereby amended as follows: 

1. Section 4 of the Plan is amended by adding the following clause to the end of the fourth sentence: 

“, provided, however, that the Committee may not reduce the Option Price per Share of any Award previously granted without the approval
of the Shareholders of the Company.” 
 2. This Amendment is subject to approval by the shareholders of the Company. 

3. Except as amended herein, the Plan shall remain in full force and effect. 

4. All capitalized terms used and not otherwise defined in this Amendment have the same meanings ascribed to them in the Plan. 

IN WITNESS WHEREOF, the undersigned has executed this Amendment, effective as of May 13, 2015. 

 

			
	AMERICAN SOFTWARE, INC.
		
	By:	 	 /s/ James R. McGuone

		 	James R. McGuone, Secretary

  
 11EX-4.2

 Exhibit 4.2 

SECOND AMENDMENT TO THE 

AMERICAN SOFTWARE, INC. 

2011 EQUITY COMPENSATION PLAN 

WHEREAS, American Software, Inc. (the “Company”) has previously adopted the American Software, Inc. 2011 Equity Compensation Plan,
as amended (the “Plan”), reserving the right therein to amend the Plan; and 
 WHEREAS, the Board of Directors of the Company has
deemed it advisable and in the best interest of the Company that the Plan be amended to increase the number of shares of Common Stock of the Company which are authorized to be issued under the Plan; 

NOW, THEREFORE, subject to the approval of the shareholders of the Company, the Plan is hereby amended as follows: 

1. Section 3 of the Plan is removed and replaced with the following: 

“Subject to Section 8, the total number of Shares which may be issued under the Plan is 5,000,000 and the maximum number of Stock
Appreciation Rights that may be granted is 500,000. The Shares may consist, in whole or in part, of unissued Shares or treasury Shares. The issuance of Shares or the payment of cash upon the exercise of an Award or in consideration of the
cancellation or termination of an Award shall reduce the total number of Shares available under the Plan, as applicable. Shares subject to Awards that terminate or lapse without the payment of consideration may be granted again under the Plan.”

 2. This Amendment is subject to approval by the shareholders of the Company. 

3. Except as amended herein, the Plan shall remain in full force and effect. 

4. All capitalized terms used and not otherwise defined in this Amendment have the same meanings ascribed to them in the Plan. 

IN WITNESS WHEREOF, the undersigned has executed this Amendment, effective as of May 13, 2015. 

 

			
	AMERICAN SOFTWARE, INC.
		
	By:	 	 /s/ James R. McGuone

		 	James R. McGuone, Secretary

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