Document:

Amendment 2006-1 to the 1997 Stock Option Plan

 EXHIBIT 10.2.1 
 AMENDMENT 2006-1 
 TO THE 
 SEI INVESTMENTS COMPANY 
 1997 STOCK OPTION PLAN 
 AMENDMENT, dated as of November 27, 2006 to the SEI Investments Company 1997 Stock Option Plan (the “Plan”), by SEI Investments
Company (the “Company”). 
 WHEREAS, the Company maintains the Plan for the benefit of its and its affiliates’ eligible
employees and consultants; and 
 WHEREAS, pursuant to Section 13 of the Plan, the Board of Directors of the Company may amend
the Plan at any time. 
 NOW THEREFORE, effective as of November 27, 2006, the Plan is hereby amended as follows: 
 1. Section 12(a) shall be deleted in its entirety and replaced with the following: 
 “Adjustments. If there is any change in the number, kind or value of the outstanding Shares by reason of any reclassification, subdivision,
combination, split-up or spin-off, stock dividend or exchange of stock of the Company for the outstanding Shares, the maximum aggregate number of Shares (or other kind of stock) as to which options may be granted under the Plan, the maximum
aggregate number of Shares (or other kind of stock) that any individual participating in the Plan may be granted in any calendar year, the number of Shares (or other kind of stock) subject to each outstanding option grant and the option price per
share shall be equitably adjusted by the Committee, in such manner as the Committee deems appropriate, to reflect any increase or decrease in the number of, or change in the kind or value of, the issued Shares to preclude, to the extent practicable,
the enlargement or dilution of rights and benefits under the Plan and such outstanding options; provided, however, that any fractional shares resulting from such adjustment shall be eliminated. Any adjustments determined by the Committee shall be
final, binding and conclusive. Such adjustment to Shares subject to the Plan or to Shares subject to options under the Plan shall not in any event take place with respect to any dividend payable in Shares of the Company, unless such dividend would
result in either (i) an increase of ten percent (10%) or more in the outstanding Shares of the Company since the adoption of the Plan or the grant of the subject option thereunder, as the case may be; or (ii) an increase in any one
transaction of five percent (5%) or more in the outstanding Shares.” 
 2. Except for the foregoing amendment, all the terms and
provisions of the Plan are hereby ratified and confirmed and shall continue in full force and effect. 
  

 Page 81 of 89Amendment 2006-1 to the 1998 Equity Compensation Plan

 EXHIBIT 10.4.1 
 AMENDMENT 2006-1 
 TO THE 
 SEI INVESTMENTS COMPANY 
 1998 EQUITY INCENTIVE PLAN 
 AMENDMENT, dated as of November 27, 2006 to the SEI Investments Company 1998 Equity Incentive Plan (the “Plan”), by SEI Investments
Company (the “Company”). 
 WHEREAS, the Company maintains the Plan for the benefit of its and its subsidiaries’
eligible employees, consultants and directors; and 
 WHEREAS, pursuant to Section 16 of the Plan, the Board of Directors of the
Company may amend the Plan at any time. 
 NOW THEREFORE, effective as of November 27, 2006, the Plan is hereby amended as
follows: 
 1. Section 3(b) shall be deleted in its entirety and replaced with the following: 
 “Adjustments. If there is any change in the number, kind or value of the shares of Company Stock outstanding (i) by reason of a stock
dividend, spinoff, recapitalization, stock split or combination or exchange of shares, (ii) by reason of a merger, reorganization or consolidation, (iii) by reason of a reclassification or change in par value or (iv) by reason of any
other extraordinary or unusual event affecting the outstanding Company Stock as a class without the Company’s receipt of consideration, or if the value of outstanding shares of Company Stock is substantially reduced as a result of a spinoff or
the Company’s payment of an extraordinary dividend or distribution, the maximum number of shares of Company Stock (or other kind of stock) available for Grants, the maximum number of shares of Company Stock (or other kind of stock) that any
individual participating in the Plan may be granted in any year, the kind and number of shares covered by outstanding Grants, the kind and number of shares issued or issuable under the Plan, and the price per share or the applicable market value of
such Grants shall be equitably adjusted by the Committee, in such manner as the Committee deems appropriate, to reflect any increase or decrease in the number of, or change in the kind or value of, the issued shares of Company Stock to preclude, to
the extent practicable, the enlargement or dilution of rights and benefits under the Plan and such outstanding Grants; provided, however, that any fractional shares resulting from such adjustment shall be eliminated. Any adjustments determined by
the Committee shall be final, binding and conclusive.” 
 2. Except for the foregoing amendment, all the terms and provisions of the Plan
are hereby ratified and confirmed and shall continue in full force and effect. 
  

 Page 82 of 89Employment Agreement

 EXHIBIT 10.9 
 SEI INVESTMENTS COMPANY 
 June 25, 2004 
 Mr. N. Jeffrey Klauder 
 [Residence Address Omitted] 
 Dear Jeff: 
 On behalf of the company I am pleased to extend our offer of employment to you as Executive Vice President and
General Counsel. In this role, you will be responsible for the leadership of the legal and compliance functions and provide counsel to the Board of Directors and its committees. In addition, the Chief Executive Officer, from time to time, may assign
to you, other administrative and organizational responsibilities. As a member of the senior management team you will be a member of the EPS committee reporting directly to the CEO and Board of Directors. 
 Your starting salary will be $9,615.38 biweekly, which is $250,000 when annualized. Increases in your salary will be in line with raises for other Executive
Vice-Presidents. Should you accept this offer, we will determine a mutually agreeable date upon which you will begin full-time employment. 
 In addition to
salary and draw, you will be eligible to participate in SEI’s incentive compensation program and other benefits as set forth in Schedule A hereto. All amounts referred to as annual amounts will be pro-rated for the calendar year based on your
employment start date. 
 In addition, you will be entitled to a recoverable draw against your target incentive compensation of $2,307.69 bi-weekly, which is
$60,000 when annualized. The Company will be entitled to recover your draw in the event your incentive compensation does not exceed your draw or in the event of termination of your employment before the incentive compensation has been earned.

 All employees of SEI Investments are employed at-will, and either the employee or SEI investments are free to terminate the employee’s employment at
any time, without cause or notice. In the event, however, your employment is terminated by SEI Investments for any reason other than cause, SEI will provide a separation package as described in Schedule A, attached hereto. 
 At its meeting today the Board and its Compensation Committee approved the terms of this offer and the Compensation Committee granted the 200,000 options to you today
referred to in Schedule A, effective as of your employment start date. 
 SEI provides a comprehensive benefits program for its employees. When you join the
company, you will be asked to make some important decisions based on your personal insurance needs. Please carefully review and evaluate this information. Selected and company-provided benefits are effective on the first of the month following
one’s start date. 
 As a further condition of employment, all prospective employees are required to execute a copy of our Employee Non-Disclosure and
Non-Compete Agreement (copy enclosed). In addition, the Immigration Control and Reform Act of 1986 requires employers to maintain documentation certifying both the identity and employment eligibility of its employees, so appropriate substantiating
documents to satisfy the verification process (see enclosed Form 1-9) will be required during your Orientation period. Also enclosed, you will find a W-4 form and an Employee History Form that should be completed and brought with you on your first
day of employment. Also, please return a signed copy of your employment application. 
  

 Page 83 of 89 

 Jeff, the Board and everyone who has worked with you at SEI are impressed with your credentials and are confident in your
ability to contribute to SEI’s success. We believe this offer represents a good career opportunity for you today, with excellent potential for your continuing personal and professional development. I look forward to confirming an acceptance of
our offer and anticipate finalizing your start date in the near future. Again, I reiterate my confidence in your future success at SEI. If you have any questions or need clarification, please do not hesitate to call or email me at [phone number
omitted] or [email address omitted]. 
 Yours truly, 
  

	
	
	/s/ Alfred P West
	Alfred P. West

  

			
	Accepted by:	 	 /s/ N. Jeffrey Klauder

	Date:	 	June 25, 2004

  

			
	Title:	  	Executive Vice President and General Counsel
		
	Responsibilities:	  	Member of senior management team at SEI – Management of legal and compliance function at SEI – Counsel to Board and committees – Such administrative and organizational
responsibilities as may be assigned from time to time by CEO – Member of EPS Committee
		
	Reporting:	  	Reports to CEO and Board
		
	Base Salary:	  	$250,000 (raises in line with raises for other EVPs)
		
	Draw:	  	$60,000 per year as advance on incentive compensation paid ratably over year so that recurring cash flow during year is $310,000
		
	Incentive Compensation:	  	Target Bonus – Starts at 2X base; in future in line with other EVP’s with a minimum of 2X base; payment based on personal performance and company achievement of Company goals in
accordance with the incentive compensation plan applicable to all members of EPS. Paid in accordance with the incentive compensation plan.
		
	Guaranteed Cash Compensation:	  	For first two years, $375 of target bonus guaranteed, of which $60,000 of bonus will be paid ratably over year (so that recurring cash flow during year is based on $310,000)
		
	Severance:	  	If terminated without cause at any time, 2X salary plus bonus and unvested options vest. If terminated without cause or upon death, option exercise period extended for one year. If death or
resignation at age 65 or thereafter, all unvested options vest.
		
	“Signing” Option Grant	  	200,000 options initially.
		
	Annual Option Grant:	  	In line with grants to other EVPs
		
	Benefits, Perqs:	  	All received by other EVPs

  

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