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SYNAVANT INC.
SAVINGS EQUALIZATION PLAN
I. PURPOSE OF THE PLAN
The purpose of the Synavant Inc. Savings Equalization Plan (the
"Plan") is to provide a means of equalizing the benefits of those employees
participating in the Synavant Inc. Savings Plan (the "401(k) Plan") whose
matching contributions under the 401(k) Plan are or will be limited by the
application of Sections 401(a)(17) or 415 of the Internal Revenue Code of
1986, as amended (the "Code"), or by reason of the exclusion from the
definition of Compensation under the 401(k) Plan of amounts deferred under
any nonqualified deferred compensation plan. The Plan is intended to be an
"excess benefit plan" as that term is defined in Section 3(36) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA") with
respect to those participants whose benefits under the 401(k) Plan have been
limited by Section 415 of the Code, and a plan which is unfunded and is
maintained by an employer primarily for the purposes of providing deferred
compensation for a select group of management or highly compensated employees
for purposes of ERISA.
II. ADMINISTRATION OF THE PLAN
Synavant Inc. (the "Corporation" or the "Company") shall administer
the Plan, except that any action authorized to be taken by the Company
hereunder may also be taken by any committee or person(s) duly authorized by
the Board of Directors of the Company or the duly authorized delegees of such
duly authorized committee or person(s). The Company shall have full authority
to determine all questions arising in connection with the Plan, including
interpreting its provisions and construing all of its terms; may adopt
procedural rules; and may employ and rely on such legal counsel, such
actuaries, such accountants and such agents as it may deem advisable to
assist in the administration of the Plan. All of its rules, interpretations
and decisions shall be applied in a uniform manner to all participants
similarly situated and decisions of the Company shall be conclusive and
binding on all persons.
III. PARTICIPATION IN THE PLAN
All members of the 401(k) Plan shall be eligible to participate in
this Plan whenever their benefits under the 401(k) Plan as from time to time
in effect would exceed the limitations on benefits and contributions imposed
by Sections 401(a)(17) or 415 of the Code or would be limited by reason of
the exclusion from the definition of Compensation under the 401(k) Plan of
amounts deferred under any nonqualified deferred compensation plan. For
purposes of this Plan, benefits of a participant in this Plan shall be
determined as though no provisions were contained in the 401(k) Plan
incorporating limitations imposed by Sections 401(a)(17) or 415 of the Code
or excluding from the definition of Compensation amounts deferred under any
nonqualified deferred compensation plan.
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IV. EQUALIZED BENEFITS
If member participating contributions or Company contributions to the
401(k) Plan for any calendar year are limited by reason of the application of
Sections 401(a)(17) or 415 of the Code or the exclusion from the definition of
Compensation under the 401(k) Plan of amounts deferred under any nonqualified
deferred compensation plan, the Corporation shall pay the participant, on or
about March 1st of the following year, an amount equal to:
(1) the Company matching contributions that otherwise would have
been credited to such participant's account under the 401(k)
Plan if the limitations imposed by Sections 401(a)(17) and 415
of the Code and the exclusion from the definition of
Compensation under the 401(k) Plan of amounts deferred under
any nonqualified deferred compensation plan did not apply,
plus
(2) an interest factor equal to one-half of the annual return
which would have been received by the participant had such
payment been invested eighty percent (80%) in the Fixed Income
Fund of the 401(k) Plan and twenty percent (20%) in the S&P
500 Index Fund of the 401(k) Plan during the year, less
(3) any applicable withholding taxes.
V. MISCELLANEOUS
This Plan may be terminated at any time by the Board of Directors of
the Corporation, in which event the rights of participants to their accrued
benefits shall become nonforfeitable. This Plan may also be amended at any time
by the Board of Directors of the Corporation, except that no such amendment
shall deprive any participant of benefits accrued at the time of such amendment.
Notwithstanding the foregoing, the Employee Benefits Committee of the
Corporation may amend the Plan without the approval of the Board of Directors of
the Corporation with respect to amendments that such Committee determines do not
have a significant effect on the cost of the Plan.
Benefits payable under this Plan shall not be funded and shall be made
out of the general funds of the Corporation; provided, however, that the
Corporation reserves the right to establish a trust fund as an alternate source
of benefits payable under the Plan and to the extent payments are made from such
trust, such payments will satisfy the Corporation's obligations under this Plan.
No right to payment or any other interest under this Plan may be
alienated, sold, transferred, pledged, assigned, or made subject to attachment,
execution, or levy of any kind.
Nothing in this Plan shall be construed as giving any employee the
right to be retained in the employ of the Corporation. The Corporation expressly
reserves the right to dismiss any employee at any time without regard to the
effect which such dismissal might have upon him under the Plan.
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This Plan shall be construed, administered and enforced according to
the laws of the State of Georgia unless preempted by federal law.
VI. EFFECTIVE DATE
This Plan shall be effective as of the date on which shares of common
stock of the Company that are owned by IMS Health Incorporated are distributed
to the holders of record of shares of IMS Health Incorporated.
SYNAVANT INC. SAVINGS EQUALIZATION PLAN
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