AGILYSYS INC — Director's Dealing 2010

Aug 17, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGILYSYS INC (AGYS)
CIK: 0000078749
Period of Report: 2010-08-13

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
2010-08-13	Common Stock	P	21121	$5.3764	Acquired	3544048	Direct
2010-08-13	Common Stock	P	60600	$5.355	Acquired	3604648	Direct
2010-08-13	Common Stock	P	80000	$5.5	Acquired	3684648	Direct

Footnotes

F1: Reflects transactions for the purchase of shares of common stock of Agilysys, Inc. (the "Shares") by and Share holdings of
MAK Capital Fund.

F2: 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.

F3: 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.