Under the agreement, UC-affiliated authors accepted for publication in a Springer journal will be published using Springer’s Open Choice program, offering “full and immediate open access,” with per-article charges factored into the cost of the overall license. The cost of the license was not released, however, the standard Open Choice author fee is $3000. In addition, “final published articles” will also be deposited in CDL’s eScholarship Repository.
Not mentioned in the article is that Springer's Open Choice allows authors to retain copyright to their article, but requiring them to agree to a Creative Commons Attribution-Noncommercial License. Under traditional publishing, the author signs away all of his rights over to his publisher, most of which are charging ever-growing fortunes for subscriptions to that work. Libraries, as you might guess, are very intrigued by the prospects of open access publishing.