AGILYSYS INC — Director's Dealing 2010

Sep 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGILYSYS INC (AGYS)
CIK: 0000078749
Period of Report: 2010-08-27

Reporting Person: MAK CAPITAL ONE LLC (Director, 10% Owner)
Reporting Person: MAK Capital Fund LP (10% Owner)
Reporting Person: Kaufman Michael A (10% Owner)
Reporting Person: SUSSMAN S DONALD (10% Owner)
Reporting Person: Cueva R. Andrew (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-08-27	Common Stock	P	41010	$4.4095	Acquired	3725658	Direct
2010-08-30	Common Stock	P	47847	$4.5050	Acquired	3773505	Direct
2010-08-31	Common Stock	P	47847	$4.4366	Acquired	3821352	Direct

Footnotes

F1: These purchases of the shares of common stock of Agilysys, Inc. (the "Shares") were effected pursuant to a Rule 10b5-1
trading plan adopted by MAK Capital Fund LP ("MAK Capital Fund") on August 12, 2010.

F2: The price reported in Column 4 is a weighted average price. These Shares were purchased on August 27, 2010 in multiple
transactions at purchase prices ranging from $4.30 to $4.50, inclusive. The reporting person undertakes to provide to
Agilysys, Inc. (the "Company"), any security holder of the Company or the staff of the Securities and Exchange Commission,
upon request, full information regarding the number of Shares purchased at each separate purchase price within the range set
forth in this footnote.

F3: Reflects Share transactions by and Share holdings of MAK Capital Fund.

F4: MAK Capital One LLC ("MAK Capital One") acts as the investment manager of MAK Capital Fund and Paloma International L.P.
("Paloma") with respect to the Shares. Paloma, through its subsidiary, Sunrise Partners Limited Partnership, owns 1,772,286
Shares. Michael A. Kaufman is the managing member of MAK Capital One and the controlling person of MAK Capital Fund. S.
Donald Sussman is the controlling person of Paloma.

F5: MAK Capital One and Mr. Kaufman may each be deemed to indirectly beneficially own the Shares held by MAK Capital Fund and
Paloma. Mr. Sussman may be deemed to beneficially own the Shares held by Paloma. For purposes of this Form 4, MAK Capital
One, Mr. Kaufman and Mr. Sussman each disclaims ownership of the Shares owned by MAK Capital Fund and Paloma, except to the
extent of their pecuniary interest therein. R. Andrew Cueva, a director of the Company and a managing director of MAK
Capital Fund, may be deemed to share beneficial ownership of the Shares held by MAK Capital Fund. Mr. Cueva disclaims
beneficial ownership of such Shares except to the extent of his pecuniary interest therein.

F6: The price reported in Column 4 is a weighted average price. These Shares were purchased on August 30, 2010 in multiple
transactions at purchase prices ranging from $4.41 to $4.65, inclusive. The reporting person undertakes to provide to the
Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full
information regarding the number of Shares purchased at each separate purchase price within the range set forth in this
footnote.

F7: The price reported in Column 4 is a weighted average price. These Shares were purchased on August 31, 2010 in multiple
transactions at purchase prices ranging from $4.37 to $4.53, inclusive. The reporting person undertakes to provide to the
Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full
information regarding the number of Shares purchased at each separate purchase price within the range set forth in this
footnote.