Document:

Form of Indemnification Agreement

 Exhibit 10.28 
  
 INDEMNIFICATION AGREEMENT 
  
 This Indemnification Agreement (“Agreement”) is made as of this          day of
            , 20__, by and between each of SunGard Capital Corporation, a Delaware corporation (“Capital Corp.”), SunGard Capital Corporation II, a Delaware
corporation (“Capital Corp. II”), SunGard Holding Corporation, a Delaware corporation (“Holdings”), SunGard HoldCo, LLC, a Delaware limited liability company (“LLC”) and SunGard Data Systems, Inc., (“SunGard,”
and together with Capital Corp., Capital Corp. II, Holdings and LLC, each a “Corporation”), and
                                        
                                        
                     (“Indemnitee”). 
  
 WHEREAS, each Corporation and Indemnitee recognize the increasing difficulty in obtaining directors’ and officers’ liability insurance, the
significant increases in the cost of such insurance and the general reduction in the coverage of such insurance; and 
  
 WHEREAS, each Corporation and Indemnitee further recognize the substantial increase in corporate litigation, in general, subjecting officers and directors
to expensive litigation risks at the same time as liability insurance has been severely limited; and 
  
 WHEREAS, Indemnitee does not regard the current protection available as adequate given the present circumstances, and Indemnitee and other officers and
directors of the Corporations may not be willing to serve as officers and directors without adequate protection; and 
  
 WHEREAS, the Corporations desire to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve as officers and
directors of the Corporations and to indemnify their respective officers and directors so as to provide them with the maximum protection permitted by law. 
  
 NOW, THEREFORE, each Corporation and Indemnitee hereby agree as follows: 
  
 1. Indemnification. 
  
 (a) Third Party Proceedings. Each Corporation shall indemnify Indemnitee if Indemnitee is or was a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of any Corporation) by reason of the fact that Indemnitee is or was a director, officer,
employee or agent of any Corporation, or any subsidiary of any Corporation, by reason of any action or inaction on the part of Indemnitee while an officer or director or by reason of the fact that Indemnitee is or was serving at the request of any
Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement (if such
settlement is approved pursuant to Section 2(f) hereof) actually and reasonably incurred by Indemnitee in connection with such action, suit or proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in
or not opposed to the best interests of the Corporations, and, with respect to any criminal action or proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful. The termination of any action, suit or proceeding by
judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not
opposed to the best interests of the Corporations, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful. For the avoidance of doubt, the foregoing indemnification
obligation includes, without limitation, claims for 

			
	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 
monetary damages against Indemnitee in respect of an alleged breach of fiduciary duties, to the fullest extent permitted under Section 102(b)(7) of the
DGCL as in existence on the date hereof. 
  
 (b) Proceedings
By or in the Right of the Corporations. Each Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of any Corporation
or any subsidiary of any Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or was a director, officer, employee or agent of any of the Corporations, or any subsidiary of any of the Corporations, by reason of any
action or inaction on the part of Indemnitee while an officer or director or by reason of the fact that Indemnitee is or was serving at the request of any of the Corporations as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees) and amounts paid in settlement (if such settlement is approved pursuant to Section 2(f) hereof) actually and reasonably incurred by
Indemnitee in connection with the defense or settlement of such action or suit if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporations and, with respect to
any criminal action or proceedings, had no reasonable cause to believe Indemnitee’s conduct was unlawful, except that no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to
be liable to any of the Corporations unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability
but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery of the State of Delaware or such other court shall deem proper. 
  
 (c) Mandatory Indemnification. To the extent that Indemnitee has been
successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Sections 1 (a) and 1 (b) or the defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including
attorneys’ fees) actually and reasonably incurred by Indemnitee in connection therewith. For purposes of this Section 1 (c), the term “successful on the merits or otherwise” shall include, but not be limited to, (i) any
termination, withdrawal, or dismissal (with or without prejudice) of any claim, action, suit or proceeding against Indemnitee without any express finding of liability or guilt against him, or (ii) the expiration of a reasonable period of time
after the making of any claim or threat of an action, suit or proceeding without the institution of the same and without any promise or payment made to induce a settlement. 
  
 (d) Notwithstanding any other provision of this Agreement to the contrary, to the extent that Indemnitee is, by reason of
Indemnitee’s corporate status with respect to any of the Corporations or any corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee is or was serving or has agreed to serve at the request of
any of the Corporations, a witness or otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding, the Corporations shall indemnify Indemnitee against all expenses (including
attorneys’ fees) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 
  
 2. Expenses and Indemnification Procedure. 
  
 (a) Advancement of Expenses. The Corporations shall advance all expenses incurred by Indemnitee in connection with the investigation, defense,
settlement or appeal of any civil or criminal action, suit or proceeding referenced in Section 1 (a) or (b) hereof. For purposes of any advancement hereunder, the 

  

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	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 
Indemnitee shall be deemed to have acted (i) in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
Corporations, and (ii) with respect to any criminal action or procedure, to have had no reasonable cause to believe his conduct was unlawful, if under either (i) or (ii), his action is based on the records or books of account of the
Corporations, or the records or books of account of another corporation, partnership, joint venture, trust or another enterprise (collectively, the “other enterprises”), including financial statements, or on information supplied to him by
the officers of the any of the Corporations or other enterprises in the course of their duties, or on the advice of legal counsel for the Corporations or other enterprises or on information or records given or reports made to the Corporations or
other enterprises by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Corporations or other enterprises. Indemnitee hereby undertakes to repay such amounts advanced only if, and to
the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Corporations as authorized hereby. The advances to be made hereunder shall be paid by the Corporations to Indemnitee no later than thirty
(30) days following delivery of a written request therefor by Indemnitee to the Corporations. 
  
 (b) Notice/Cooperation by Indemnitee. Indemnitee shall, as a condition precedent to his right to be indemnified under this Agreement, give the
Corporations notice in writing as soon as practicable of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement. Notice to the Corporations shall be directed to 1285 Drummers Lane, Wayne, PA
19087, Attention: General Counsel (or such other address as the Corporations may from time to time designate in writing to Indemnitee). Notice shall be deemed received on the third business day after the date postmarked if sent by domestic
certified or registered mail, properly addressed; otherwise, notice shall be deemed received when such notice shall actually be received by the Corporations. In addition, Indemnitee shall give the Corporations such information and cooperation as
they may reasonably require and as shall be within Indemnitee’s power. The failure to notify promptly the Corporations of the commencement of the action, suit or proceeding, or Indemnitee’s request for indemnification, will not relieve the
Corporations from any liability that it may have to Indemnitee hereunder, except to the extent the Corporations are prejudiced in their defense of such action, suit or proceeding as a result of such failure. 
  
 (c) Procedure. Any indemnification and advances provided for in
Section 1 hereof and this Section 2 shall be made no later than thirty (30) days after receipt of the written request of Indemnitee. If a claim under this Agreement, under any statute, or under any provision of the Corporations’
Certificate of Incorporation, Bylaws or other governing documents providing for indemnification is not paid in full by the Corporations within thirty (30) days after written request for payment thereof has first been received by the
Corporations, Indemnitee may, but need not, at any time thereafter bring an action against the Corporations to recover the unpaid amount of the claim and, subject to Section 13 hereof, Indemnitee shall also be entitled to be paid for the
expenses (including attorneys’ fees) of bringing such action. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in connection with any action, suit or proceeding in advance of its
final disposition) that Indemnitee has not met the standards of conduct which make it permissible under applicable law for the Corporations to indemnify Indemnitee for the amount claimed, but the burden of proving such defense shall be on the
Corporations, and Indemnitee shall be entitled to receive interim payments of expenses pursuant to Section 2(a) hereof unless and until such defense may be finally adjudicated by court order or judgment from which no further right of appeal
exists. It is the parties’ intention that if the Corporations contest Indemnitee’s right to indemnification, the question of Indemnitee’s right to indemnification shall be for the court to decide, and neither the failure of the
Corporations (including its Board of Directors, any committee or subgroup of the Board of Directors, independent legal 

  

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	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 
counsel, or its stockholders) to have made a determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the
applicable standard of conduct required by applicable law, nor an actual determination by the Corporations (including its Board of Directors, any committee or subgroup of the Board of Directors, independent legal counsel, or its stockholders) that
Indemnitee has not met such applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable standard of conduct. 
  

(d) Notice to Insurers. If, at the time of the receipt of a notice of a claim pursuant to Section 2(b) hereof, the Corporations have
directors’ and officers’ liability insurance in effect, the Corporations shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The
Corporations shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 
  
 (e) Selection of Counsel. If the Corporations shall be obligated
under Section 2(a) hereof to pay the expenses of any proceeding against Indemnitee, the Corporations, if appropriate, shall be entitled to assume the defense of such proceeding, with counsel approved by Indemnitee, upon the delivery to
Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Corporations, the Corporations will not be liable to Indemnitee under this
Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same proceeding; provided that (i) Indemnitee shall have the right to employ separate counsel in any such proceeding at Indemnitee’s expense; and
(ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Corporations, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Corporations and Indemnitee in
the conduct of any such defense, or (C) the Corporations shall not, in fact, have employed counsel to assume the defense of such proceeding, then the reasonable fees and expenses of Indemnitee’s counsel shall be at the expense of the
Corporations. 
  
 (f) Settlements. No Corporation shall be
liable to Indemnitee under this Agreement for any amounts paid in settlement of any action or claim effected without its written consent. The Corporations shall not settle any action or claim in any manner which would impose any penalty or
limitation on Indemnitee without Indemnitee’s written consent. Neither the Corporations nor Indemnitee will unreasonably withhold consent to any proposed settlement. 
  
 (g) Change In Control. If, at any time subsequent to the date of this Agreement, continuing directors do not
constitute a majority of the members of the Board of Directors, or there is otherwise a change in control of Capital Corp. (as contemplated by Item 403(c) of Regulation S-K under the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended), then upon the request of Indemnitee, the Corporations shall cause the determination of indemnification and advances required by Section 2 hereof to be made by a third-party (mutually agreed upon by the
parties). The fees and expenses incurred by the third party in making the determination of indemnification and advances shall be borne solely by the Corporations. If such third party is unwilling and/or unable to make the determination of
indemnification and advances, then the Corporations shall cause the indemnification and advances to be made by a majority vote or consent of a Board committee consisting solely of continuing directors. For purposes of this Agreement, a
“continuing director” means either a member of the Board at the date of this Agreement or a person nominated to serve as a member of the Board by a majority of the then-continuing directors. 
  

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	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 3. Additional Indemnification Rights. 
  
 (a) Scope. Notwithstanding any other provision of this Agreement,
each Corporation shall indemnify Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, such Corporation’s Certificate of
Incorporation, the Bylaws, or other governing document or by statute. In the event of any change, after the date of this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware corporation to indemnify a member of
its board of directors or an officer, such changes shall be, ipso facto, within the purview of Indemnitee’s rights and Corporation’s obligations under this Agreement. In the event of any change in any applicable law, statute or rule
which narrows the right of a Delaware corporation to indemnify a member of its board of directors or an officer, such changes (to the extent not otherwise required by such law, statute or rule to be applied to this Agreement) shall have no effect on
this Agreement or the parties’ rights and obligations hereunder. 
  
 (b) Non-exclusivity. The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which an Indemnitee may be entitled under the Corporations’ Certificates of Incorporation, Bylaws, any other
governing document, any agreement, any vote of stockholders or disinterested directors, the Delaware General Corporation Law, or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity while holding
such office. 
  
 4. Continuation of Indemnity. All
agreements and obligations of the Corporations contained herein shall continue during the period Indemnitee is a director, officer, employee or agent of the Corporations (or is or was serving at the request of the Corporations as a director,
officer, employee or agent of other enterprises) and shall continue thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal or investigative, by
reason of the fact that Indemnitee was a director, officer, employee or agent of the Corporations or serving in any other capacity referred to herein. 
  
 5. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Corporations for some or a
portion of the expenses, judgments, fines or penalties actually or reasonably incurred by him in the investigation, defense, appeal or settlement of any civil or criminal action, suit or proceeding, but not for the total amount thereof, the
Corporations shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled. 
  
 6. Mutual Acknowledgement. Each of the Corporations and Indemnitee acknowledge that, in certain instances, federal law or public policy may
override applicable state law and prohibit the Corporations from indemnifying their respective directors and officers under this Agreement or otherwise. For example, the Corporations and Indemnitee acknowledge that the Securities and Exchange
Commission (the “SEC”) has taken the position that indemnification is not permissible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. Indemnitee
understands and acknowledges that one or more of the Corporations may undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of such Corporation’s right under public policy to
indemnify Indemnitee. 
  
 7. Officer and Director Liability
Insurance. The Corporations shall, from time to time, make the good faith determination whether or not it is practicable for the Corporations to obtain and maintain a policy or policies of insurance with reputable insurance companies providing
the officers and directors of the Corporations with coverage for losses from wrongful acts, or to ensure the Corporations’ performance of 

  

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	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 
their indemnification obligations under this Agreement. Among other considerations, the Corporations will weigh the costs of obtaining such insurance
coverage against the protection afforded by such coverage. The Corporations shall have no obligation to obtain or maintain such insurance if the Corporations determine in good faith that such insurance is not reasonably available, if the premium
costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or Indemnitee is covered by similar insurance maintained
by a parent or subsidiary of the Corporations. In the event of any payment by the Corporations under this Agreement, the Corporations shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to
any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Corporations to bring suit to enforce such rights in accordance
with the terms of such insurance policy. The Corporations shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation. The Corporations shall not be liable under this Agreement to make any
payment of amounts otherwise indemnifiable hereunder (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment
under this Agreement or any insurance policy, contract, agreement or otherwise. 
  
 8. Severability. Nothing in this Agreement is intended to require or shall be construed as requiring any of the Corporations to do or fail to do any act in violation of applicable law. The inability of any
Corporation, pursuant to court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this Section 8. If this Agreement or any
portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporations shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall not have been
invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms. 
  
 9. Exceptions. Any other provision herein to the contrary notwithstanding, the Corporations shall not be obligated pursuant to the terms of this
Agreement: 
  
 (a) Claims Initiated by Indemnitee. To
indemnity or advance expenses to Indemnitee with respect to proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce a right to indemnification
under this Agreement or any other statute or law or otherwise as required under Section 145 of the Delaware General Corporation Law, but such indemnification or advancement of expenses may be provided by the Corporations in specific cases if
the Board of Directors finds it to be appropriate; 
  
 (b)
Lack of Good Faith. To indemnity Indemnitee for any expenses incurred by Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of
the material assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous; 
  
 (c) Insured Claims. To indemnity Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines,
ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability insurance maintained by the Corporations or other
enterprises; or 
  

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	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 (d) Claims Under Section 16(b). To indemnify Indemnitee for expenses or the payment of
profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute. 
  
 (e) Non-compete and Non-disclosure. To indemnify Indemnitee in
connection with proceedings or claims involving the enforcement of non-compete and/or non-disclosure agreements or the non-compete and/or non-disclosure provisions of employment, consulting or similar agreements the Indemnitee may be a party to with
the Corporations, or any subsidiary of the Corporations or any other applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise, if any. 
  
 10. Contribution. In order to provide for just and equitable contribution in circumstances in which the
indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Corporations shall, to the fullest extent permitted by law, contribute to the
payment of Indemnitee’s costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, in
an amount that is just and equitable in the circumstances, taking into account, among other things, contributions by other directors and officers of the Corporations or others pursuant to indemnification agreements or otherwise; provided, that,
without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to (i) the failure of Indemnitee to meet the standard of conduct set forth in Section 1 hereof, or
(ii) any limitation on indemnification set forth in Section 2(f), 7 or 9 hereof. 
  
 11. Construction of Certain Phrases. 
  
 (a) For purposes of this Agreement, references to the “Corporations” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed
in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that if Indemnitee is or was a director, officer, employee or agent of
such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of other enterprises, Indemnitee shall stand in the same position under the provisions of this Agreement with
respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued. 
  
 (b) For purposes of this Agreement, references to “other enterprises” shall include employee benefit plans;
references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan: and references to “serving at the request of the Corporations” shall include any service as a director,
officer, employee or agent of the Corporations which imposes duties on, or involves services by, Indemnitee with respect to an employee benefit plan, its participants, or beneficiaries; and, if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Corporations” as
referred to in this Agreement. 
  
 12. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall constitute an original. 
  

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	 INDEMNIFICATION AGREEMENT
	  	(NAME)

  

 13. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of
the Corporations and its successors and assigns, and Indemnitee and Indemnitee’s estate, heirs, legal representatives and assigns. 
  
 14. Attorneys’ Fees. If any action is instituted by Indemnitee under this Agreement to enforce or interpret any of the terms hereof,
Indemnitee shall be entitled to be paid all court costs and expenses, including reasonable attorneys’ fees, incurred by Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction determines that
each of the material assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous. In the event of an action instituted by or in the name of the Corporations under this Agreement or to enforce or interpret any
of the terms of this Agreement, Indemnitee shall be entitled to be paid all court costs and expenses, including attorneys’ fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee’s counterclaims and
cross-claims made in such action), unless as a part of such action the court determines that each of Indemnitee’s material defenses to such action was made in bad faith or was frivolous. 
  
 15. Notice. All notices, requests, demands and other communications
under this Agreement shall be in writing and, unless otherwise provided, shall be deemed duly given (a) if delivered by hand and receipted for by the party addressee, on the date of such receipt, or (b) if mailed by domestic certified or
registered mail with postage prepaid, on the third business day after the date postmarked. The address for notice to the Corporations shall be as set forth in Section 2(b) hereof, and the address for notice to Indemnitee shall be as set forth
on the signature page of this Agreement, or as subsequently modified by written notice. 
  
 16. Consent to Jurisdiction. The Corporations and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action or
proceeding which arises out of or relates to this Agreement. Any action instituted under this Agreement shall be brought only in the state courts of the State of Delaware. 
  
 17. Choice of Law. This Agreement shall be governed by and its provisions construed in accordance with the laws of
the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed within Delaware. 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

  

			
	 SUNGARD CAPITAL CORP.

		
	 By:
	 	 
	
	 SUNGARD CAPITAL CORP. II

		
	 By:
	 	 
	
	 SUNGARD HOLDING CORP.

		
	 By:
	 	 
	
	 SUNGARD HOLDCO, LLC

		
	 By:
	 	 
	
	 SUNGARD DATA SYSTEMS INC.

		
	 By:
	 	 
	 	 	Cristóbal Conde

  

	
	 AGREED TO AND ACCEPTED:

	 INDEMNITEE:

	
	  
	 (signature)

	
	  
	 (name)

	
	  
	 (address)2005 Management Incentive Plan

 Exhibit 10.29 
  
 SUNGARD 
 2005 MANAGEMENT INCENTIVE PLAN 
  

	1.	DEFINED TERMS 

  
 Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those terms.

  

	2.	PURPOSE 

  
 The Plan has been established to advance the interests of the Company and its Affiliates by providing for the grant to Participants of Stock-based and
other incentive Awards. 
  

	3.	ADMINISTRATION 

  
 The Administrator has discretionary authority, subject only to the express provisions of the Plan and the Award Agreements, to interpret the Plan;
determine eligibility for and grant Awards; determine, modify or waive the terms and conditions of any Award; prescribe forms, rules and procedures; and otherwise do all things necessary to carry out the purposes of the Plan. Except as otherwise
provided by the express terms of an Award Agreement, all determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 
  

	4.	LIMITS ON AWARDS UNDER THE PLAN 

  
 (a) Number of Shares. A maximum of 60,000,000 shares of Class A Common, 7,000,000 shares of Class L Common, and 2,500,000 shares
of Lowerco Preferred may be delivered in satisfaction of Awards under the Plan. The number of shares of Stock delivered in satisfaction of Awards shall, for purposes of the preceding sentence, be determined net of shares of Stock withheld by the
Company in payment of the exercise price of the Award or in satisfaction of tax withholding requirements with respect to the Award. The limits set forth in this Section 4(a) shall be construed to comply with Section 422 of the Code and the
regulations thereunder. To the extent consistent with the requirements of Section 422 of the Code and regulations thereunder, Stock issued under awards of an acquired company that are converted, replaced or adjusted in connection with the
acquisition shall not reduce the number of shares available for Awards under the Plan. 
  
 (b) Type of Shares. Stock delivered under the Plan may be authorized but unissued Stock or previously issued Stock acquired by the Company or any of its subsidiaries. No fractional shares of Stock
will be delivered under the Plan. 
  

	5.	ELIGIBILITY AND PARTICIPATION 

  
 The Administrator will select Participants from among those key Employees and directors of, and consultants and advisors to, the Company or its Affiliates
who, in the opinion of the Administrator, are in a position to make a significant contribution to the success of the Company and its Affiliates. Eligibility for ISOs is limited to employees of the Company or of a “parent corporation” or
“subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code. 

	6.	RULES APPLICABLE TO AWARDS 

  
 (a) All Awards 
  
 (1) Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations provided herein,
and shall furnish to each Participant an Award Agreement setting forth the terms applicable to the Participant’s Award. By entering into an Award Agreement, the Participant agrees to the terms of the Award and of the Plan, to the extent not
inconsistent with the express terms of the Award Agreement. Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may contain terms and
conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 
  
 (2) Transferability. Neither ISOs, nor, except as the Administrator otherwise expressly provides, other Awards may be
transferred other than by will or by the laws of descent and distribution, and during a Participant’s lifetime ISOs (and, except as the Administrator otherwise expressly provides, other non-transferable Awards requiring exercise) may be
exercised only by the Participant. 
  
 (3)
Vesting, Etc. The Administrator may determine the time or times at which an Award will vest or become exercisable and the terms on which an Award requiring exercise will remain exercisable. Without limiting the foregoing, the
Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however,
the following rules will apply if a Participant’s Employment ceases: Immediately upon the cessation of Employment an Award requiring exercise will cease to be exercisable and will terminate, and all other Awards to the extent not already vested
will be forfeited, except that: 
  
 (A) subject
to (B) and (C) below, all Stock Options held by the Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain
exercisable for the shorter of (i) a period of three months or (ii) the period ending on the latest date on which such Stock Option could have been exercised without regard to this Section 6(a)(3), and will thereupon terminate;

  
 (B) all Stock Options held by a Participant
or the Participant’s permitted transferees, if any, immediately prior to the Participant’s death, to the extent then exercisable, will remain exercisable for the shorter of (i) the one year period ending with the first anniversary of
the Participant’s death or (ii) the period ending on the latest date on which such Stock Options could have been exercised without regard to this Section 6(a)(3), and will thereupon terminate; and 
  
 (C) all Stock Options held by a Participant or the
Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation if such cessation of Employment has resulted in connection with an act or
failure to act constituting Cause. 
  

 -2- 

 (4) Taxes. The Administrator will make such provision for the
withholding of taxes as it deems necessary. The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding requirements (but not in
excess of the applicable minimum statutory withholding rate). 
  
 (5) Dividend Equivalents, Etc. To the extent consistent with Section 409A of the Code, the Administrator may in its sole discretion provide for the payment of amounts in cash, or for other
adjustments to an Award, upon the payment of a cash dividend or distribution, or upon a substantially pro rata redemption or repurchase, with respect to Stock subject to an Award. 
  
 (6) Rights Limited. Nothing in the Plan will be construed as giving any person the
right to continued Employment with the Company or its Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan. The loss of potential future profit in Awards will not constitute an element of damages in
the event of termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or its Affiliate to the Participant, except to the extent such potential future profit is taken into account in
determining the current value of an Award under a recognized valuation model. 
  
 (7) Stockholders Agreement. Unless otherwise specifically provided, all Awards issued under the Plan and all Stock issued thereunder will be subject to the Stockholders Agreement. 
  
 (b) Awards Requiring Exercise 
  
 (1) Time And Manner Of Exercise. Unless
the Administrator expressly provides otherwise, an Award requiring exercise by the holder will not be deemed to have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator) signed by the
appropriate person and accompanied by any payment required under the Award. If the Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to
do so. 
  
 (2) Exercise
Price. The Administrator will determine the exercise price, if any, of each Award requiring exercise. Unless the Administrator determines otherwise, and in all events in the case of a Stock Option (except as otherwise permitted pursuant to
Section 6(a)(5) or Section 7(b)(1) hereof), the exercise price of an Award requiring exercise will not be less than the fair market value of the Stock subject to the Award, determined as of the date of grant, and in the case of an ISO
granted to a ten-percent shareholder within the meaning of Section 422(b)(6) of the Code, the exercise price will not be less than 110% of the fair market value of the Stock subject to the Award, determined as of the date of grant. 

 
 (3) Payment Of Exercise Price. Where
the exercise of an Award is to be accompanied by payment, the Administrator may determine the required or permitted forms of 

  

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payment, subject to the following: (a) all payments will be by cash or check acceptable to the Administrator, or (b) if so permitted by the
Administrator, (i) through the delivery of shares of Stock that have a fair market value equal to the exercise price, except where payment by delivery of shares would adversely affect the Company’s results of operations under Generally
Accepted Accounting Principles or where payment by delivery of shares outstanding for less than six months would require application of securities laws relating to profit realized on such shares, (ii) where permitted by law, by delivery to the
Company of a promissory note of the person exercising the Award, payable on such terms as are specified by the Administrator, (iii) at such time, if any, as the Stock is publicly traded, through a broker-assisted exercise program acceptable to
the Administrator, (iv) by other means acceptable to the Administrator, or (v) by any combination of the foregoing permissible forms of payment. The delivery of shares in payment of the exercise price under clause (b)(i) above may be
accomplished either by actual delivery or by constructive delivery through attestation of ownership, subject to such rules as the Administrator may prescribe. 
  

(4) ISOs. No ISO may be granted under the Plan after August 10, 2015, but ISOs previously granted may extend
beyond that date. 
  
 (c) Awards Not Requiring
Exercise 
  
 Awards of Restricted Stock and Unrestricted
Stock, whether delivered outright or under Awards of Stock Units or other Awards that do not require exercise, may be made in exchange for such lawful consideration, including services, as the Administrator determines. 
  

	7.	EFFECT OF CERTAIN TRANSACTIONS 

  
 (a) Except as otherwise provided in an Award Agreement: In the event of a Change of Control in which there is an acquiring or surviving entity, the
Administrator may, unless the Administrator determines that doing so is inappropriate or unfeasible, provide for the continuation or assumption of some or all outstanding Awards, or for the grant of new awards in substitution therefor, by the
acquiror or survivor or an affiliate of the acquiror or survivor, in each case on such terms and subject to such conditions as preserve the intrinsic value of the Award in the Administrator’s good faith determination. In the event of a Change
of Control (whether or not there is an acquiring or surviving entity) in which there is no assumption or substitution as to some or all outstanding Awards, the Administrator shall, to the extent necessary to preserve the value of the Award, provide
for treating as satisfied any time-based vesting condition on any such Award or for the accelerated delivery of shares of Stock issuable under each such Award consisting of Restricted Stock Units, in each case on a basis that gives the holder of the
Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the issuance of the shares, as the case may be, to participate as a stockholder in the Change of Control. Except as otherwise provided in an Award
Agreement, each Award (unless assumed pursuant to the first sentence of this Section 7(a)), other than Restricted Stock (which shall be treated as described in the following sentence of this Section 7(a)) will terminate upon consummation
of the Change of Control. In the case of Restricted Stock, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Change of Control be placed in escrow or
otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. 
  

 -4- 

 (b) Changes In, Distributions With Respect To And Redemptions Of The Stock 
  
 (1) Basic Adjustment Provisions. In the event
of any stock dividend or other similar distribution (whether in the form of stock or other securities or other property), stock split or combination of shares (including a reverse stock split), recapitalization, conversion, reorganization,
consolidation, split-up, spin-off, combination, merger, exchange of stock, redemption or repurchase of all or part of the shares of any class of stock or any change in the capital structure of the Company or an Affiliate or other transaction or
event (other than those described in Section 7(a)), the Administrator will, as appropriate in order to prevent enlargement or dilution of benefits intended to be made available under the Plan, make adjustments to the maximum number of shares
that may be delivered under the Plan under Section 4(a) and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted, any exercise prices relating
to Awards and any other provision of Awards affected by such change. 
  
 (2) Certain Other Adjustments. The Administrator may also make adjustments of the type described in paragraph (1) above to take into account distributions to stockholders other than those provided
for in Section 7(a) and 7(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan and to preserve the value of Awards made hereunder, having due regard for the
qualification of ISOs under Section 422 of the Code, where applicable. 
  
 (3) Continuing Application of Plan Terms. References in the Plan to shares of Stock will be construed to include any stock or securities resulting from an adjustment pursuant to this Section 7.

  

	8.	LEGAL CONDITIONS ON DELIVERY OF STOCK 

  
 The Company shall use best efforts to ensure, prior to delivering shares of Stock pursuant to the Plan or removing any restriction from shares of Stock
previously delivered under the Plan, that (a) all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved, and (b) if the outstanding Stock is at the time of delivery listed on any stock
exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance. Neither the Company nor any Affiliate will be obligated to deliver any shares of
Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until the conditions set forth in the preceding sentence have been satisfied and all other conditions of the Award have been satisfied
or waived. If the sale of Stock has not been registered under the Securities Act of 1933, as amended, the Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may consider
appropriate to avoid violation of such Act. The Company may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the
certificates pending lapse of the applicable restrictions. 
  

 -5- 

	9.	AMENDMENT AND TERMINATION 

  
 The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by law, and may at
any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so as to affect
adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time of the Award. Any amendments to the Plan shall be conditioned upon stockholder approval only to the extent, if any,
such approval is required by applicable law (including the Code), as determined by the Administrator. 
  

	10.	OTHER COMPENSATION ARRANGEMENTS 

  
 The existence of the Plan or the grant of any Award will not in any way affect the right of the Company or an Affiliate to Award a person bonuses or other
compensation in addition to Awards under the Plan. 
  

	11.	WAIVER OF JURY TRIAL 

  
 By accepting an Award under the Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights
under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim
shall be tried before a court and not before a jury. By accepting an Award under the Plan, each Participant certifies that no officer, representative or attorney of the Company or any Affiliate has represented, expressly or otherwise, that the
Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the foregoing waivers. 
  

	12.	ESTABLISHMENT OF SUB-PLANS 

  
 The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of
various jurisdictions. The Board shall establish such sub-plans by adopting supplements to the Plan setting forth (i) such limitations on the Administrator’s discretion under the Plan as the Board deems necessary or desirable and
(ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only
to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction that is not affected. 
  

	13.	GOVERNING LAW 

  
 Except as otherwise provided by the express terms of an Award Agreement or under a sub-plan described in Section 12, the provisions of the Plan and
of Awards under the Plan shall be governed by and interpreted in accordance with the laws of the State of Delaware. 
  

 -6- 

  
 EXHIBIT A 

 
 Definitions of Terms 
  
 The following terms, when used in the Plan, will have the meanings and be
subject to the provisions set forth below: 
  
 “Administrator”: The Board or, if one or more has been appointed, the Committee. The Administrator may delegate ministerial tasks to such persons as it deems appropriate. 
  
 “Affiliate”: Any corporation or other entity that is an
“Affiliate” of the Company within the meaning of the Stockholders Agreement. 
  
 “Award”: Any or a combination of the following: 
  

	 	(i)	Stock Options, 

  

	 	(ii)	Restricted Stock, 

  

	 	(iii)	Unrestricted Stock, 

  

	 	(iv)	Restricted Stock Units; 

  

	 	(v)	Awards (other than Awards described in (i) through (iv) above) that are convertible into or exchangeable for Stock on such terms and conditions as the Administrator
determines; 

  

	 	(vi)	Performance Awards; and/or 

  

	 	(vii)	Current or deferred grants of cash (which the Company may make payable by any of its direct or indirect subsidiaries) or loans, made in connection with other Awards.

  
 “Award Agreement”: A written
agreement between the Company and the Participant evidencing the Award. 
  
 “Board”: With respect to SunGard Capital Corp., the Board of Directors of SunGard Capital Corp.; with respect to SunGard Capital Corp. II, the Board of Directors of SunGard Capital Corp. II. 
  
 “Cause”: The occurrence of the events described in the
following clauses (i) through (iii), provided that no act or failure to act shall be deemed to constitute Cause if done, or omitted to be done, in good faith and with the reasonable belief that the action or omission was in the best interests
of the Company and its subsidiaries: 
  
 (i) at
least two-thirds of the members of the Board of Directors of the Company determined in good faith that Participant (A) was guilty of gross negligence or willful misconduct in the performance of his duties for the Company or any of its
subsidiaries (other than due to illness or injury suffered by Participant or a member of his 

  

 -7- 

 
family, or comparable personal problem), (B) breached or violated, in any material respect, any agreement between the Participant and the Company (or
any of its subsidiaries) or any material policy in the SunGard Global Business Conduct and Compliance Program (as amended from time to time), or (C) committed an act of dishonesty or breach of trust, or is convicted of a crime, and the result
of such dishonesty, breach of trust, or conviction of a crime is that there is material or potentially material financial or reputational harm to the Company (or any of its subsidiaries); and 
  
 (ii) such determination was made at a duly convened meeting
of the Board of Directors of the Company (A) of which the Participant received written notice at least ten (10) days in advance, which notice shall have set forth in reasonable detail the facts and circumstances claimed to provide a basis
for a finding that one of the events described in subsection (i) above occurred, and (B) at which the Participant had a reasonable opportunity to make a statement and answer the allegations against the Participant; and 
  
 (iii) either (A) the Participant was given a reasonable
opportunity to take remedial action but failed or refused to do so, or (B) at least two-thirds of the members of the Board of Directors of the Company also determined in good faith, at such meeting, that an opportunity to take remedial action
would not have been meaningful under the circumstances. 
  
 “Change of Control”: A “Change of Control” as defined in the Stockholders Agreement. 
  
 “Class A Common”: Class A-8 Common Stock of SunGard Capital Corp., par value $.001 per share or another class of Class A Common
Stock of the Company as designated by the Board. 
  
 “Class L Common”: Class L Common Stock of SunGard Capital Corp., par value $.001 per share. 
  
 “Code”: The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from time to time
in effect. 
  
 “Committee”: One or more
committees of the Board. 
  
 “Company”: SunGard
Capital Corp., a Delaware corporation, except that such term shall refer to SunGard Capital Corp. II, a Delaware corporation, with respect to Awards relating to Lowerco Preferred. 
  
 “Employee”: Any person who is employed by the Company or an Affiliate. 
  
 “Employment”: A Participant’s employment or other
service relationship with the Company and its Affiliates. Unless the Administrator provides otherwise: A Participant who receives an Award in his or her capacity as an Employee will be deemed to cease Employment when the employee-employer
relationship with the Company and its Affiliates ceases. A Participant who receives an Award in any other capacity will be deemed to continue Employment so long as the Participant is providing services in a capacity described in Section 5.

  

 -8- 

 
If a Participant’s relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant will be deemed to cease Employment when
the entity ceases to be an Affiliate unless the Participant transfers Employment to the Company or its remaining Affiliates. 
  
 “ISO”: A Stock Option intended to be an “incentive stock option” within the meaning of Section 422 of the Code. Each
option granted pursuant to the Plan will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant, it is expressly designated as an ISO. 
  
 “Lowerco Preferred”: 10% Cumulative Preferred Stock, par
value $.001 per share, of SunGard Capital Corp. II. 
  
 “Participant”: A person who is granted an Award under the Plan. 
  
 “Performance Award”: An Award subject to Performance Criteria. 
  
 “Performance Criteria”: Specified criteria the satisfaction of which is a condition for the grant, exercisability, vesting or full
enjoyment of an Award. If a Performance Award so provides, such criteria may be made subject to appropriate adjustments taking into account the effect of significant corporate transactions or similar events for the purpose of maintaining the
probability that the specified criteria will be satisfied. Such adjustments shall be made only in the amount deemed reasonably necessary, after consultation with the Company’s accountants, to reflect accurately the direct and measurable effect
of such event on such criteria. 
  
 “Plan”:
SunGard 2005 Management Incentive Plan as from time to time amended and in effect. 
  
 “Restricted Stock”: An Award of Stock for so long as the Stock remains subject to restrictions under this Plan or such Award requiring that it be redelivered or offered for sale to the Company if
specified conditions are not satisfied. 
  
 “Restricted
Stock Unit”: An unfunded and unsecured promise to deliver Stock or other securities in the future on specified terms. 
  
 “Stock”: Class A Common, Class L Common, and Lowerco Preferred. 
  
 “Stockholders Agreement”: Stockholders Agreement, dated as of August 10, 2005, among the Company and
certain affiliates, stockholders and Participants. 
  
 “Stock Option”: An option entitling the recipient to acquire shares of Stock upon payment of the exercise price. 
  
 “Unrestricted Stock”: An Award of Stock not subject to any restrictions under the Plan. 
  

 -9-

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