Document:

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                                                                     EXHIBIT 4.6

               FORM OF WARRANT - INTELIDATA TECHNOLOGY CORPORATION

Warrant Certificate No.:  HFN 1                                Right to Purchase
                                                           640,000 Warrant Units

THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR WHICH MAY BE ISSUED UPON
EXERCISE OF THE RIGHTS HEREIN GRANTED HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR WITH ANY STATE SECURITIES COMMISSION, AND
MAY NOT BE TRANSFERRED OR DISPOSED OF BY THE HOLDER IN THE ABSENCE OF A
REGISTRATION STATEMENT WHICH IS EFFECTIVE UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND APPLICABLE STATE LAWS AND RULES, OR, UNLESS, IMMEDIATELY PRIOR TO
THE TIME SET FOR TRANSFER, SUCH TRANSFER MAY BE EFFECTED WITHOUT VIOLATION OF
THE SECURITIES ACT OF 1933, AS AMENDED, AND OTHER APPLICABLE STATE LAWS AND
RULES.

THE SECURITIES EVIDENCED BY THIS CERTIFICATE ARE ENTITLED TO CERTAIN RIGHTS AND
THE HOLDER HEREOF IS SUBJECT TO CERTAIN OBLIGATIONS SPECIFIED IN A CERTAIN
SHAREHOLDER AGREEMENT BETWEEN SYBASE, INC. AND THE ORIGINAL HOLDER OF THESE
SECURITIES, A COPY OF WHICH IS AVAILABLE FOR EXAMINATION AT THE PRINCIPAL OFFICE
OF SYBASE, INC.

                                     WARRANT

                           TO PURCHASE COMMON STOCK OF
                                  SYBASE, INC.

                            VOID AFTER MARCH 31, 2005

      This Warrant certifies that InteliData Technologies Corporation or
registered assigns (the "Holder"), is entitled to subscribe for and purchase
from Sybase, Inc., a Delaware corporation ("Sybase"), all or any part of 640,000
"Warrant Units" (as hereinafter defined) at a purchase price equal to $3.00 per
Warrant Unit (the "Exercise Price"), subject to adjustment as set forth herein.
The term "Warrant Unit" means $1.153448 in cash and 0.34794 shares of duly
authorized, validly issued, fully paid and nonassessable shares of the common
stock, $0.001 par value, of Sybase, (the common stock, including any stock into
which it may be changed, reclassified, or converted, is herein referred to as
the "Sybase Common Stock"). The Warrant may be exercised, in whole or in part,
at any time, and from time to time, from the date hereof and ending at 5:00
p.m., Eastern Daylight Time, on March 31, 2005.

      This Warrant is issued in consideration of surrender by the Holder of that
certain Common Stock Warrant, issued as of March 31, 1997 by Home Financial
Network, Inc., a Delaware

<PAGE>   2
corporation ("HFN") in connection with the merger of HFN with On-Line Financial
Services, Inc., a Delaware corporation "Merger Sub") a wholly owned subsidiary
of Sybase pursuant to the terms of that certain Agreement and Plan of
Reorganization, dated as of November 29, 1999, by and among Sybase, HFN, Merger
Sub, and certain principal shareholders of HFN and a shareholder representative
designated therein.

      This Warrant and any shares of Sybase Common Stock issued upon exercise of
this Warrant shall become subject to the terms of the Shareholder Agreement, a
copy of which is attached hereto as Exhibit A (the "Shareholder Agreement").

      This Warrant is subject to the following provisions, terms and conditions:

      SECTION 1. EXERCISE OF WARRANT.

      To exercise this Warrant in whole or in part, the Holder shall deliver to
Sybase at its principal office, (a) a written notice, in substantially the form
of the Subscription Notice appearing at the end of this Warrant, of the Holder's
election to exercise this Warrant which notice shall specify the number of
Warrant Units to be purchased, (b) cash or a certified check payable to Sybase
in an amount equal to the aggregate purchase price of the number of Warrant
Units being purchased, and (c) this Warrant. Sybase shall as promptly as
practicable, and in any event within 15 days thereafter, execute and deliver or
cause to be executed and delivered, in accordance with such notice, a
certificate or certificates representing the aggregate number of Warrant Units
specified in such notice. The stock certificate or certificates of Sybase Common
Stock delivered in connection therewith shall be issued in the name of the
Holder or such other name as shall be designated in such notice. Such
certificate or certificates shall be deemed to have been issued and the Holder
or any other person so designated to be named therein shall be deemed for all
purposes to have become a holder of record of such shares as of the date such
notice is received by Sybase as aforesaid. If this Warrant shall have been
exercised only in part, Sybase shall, at the time of delivery of said
certificate or certificates, deliver to the Holder a new Warrant evidencing the
rights of the Holder to purchase the remaining Warrant Units called for by this
Warrant, which new Warrant shall in all other respects be identical to this
Warrant, or, at the request of the Holder, appropriate notation may be made on
this Warrant and the same returned to the Holder. Sybase shall pay all expenses,
taxes and other charges payable in connection with the preparation, issue and
delivery of such stock certificates, except that, in case such stock
certificates shall be registered in a name or names other than the name of the
Holder, funds sufficient to pay all stock transfer taxes that are payable upon
the issuance of such stock certificate or certificates shall be paid by the
Holder at the time of delivering the notice of exercise mentioned above.

<PAGE>   3
      SECTION 2. TRANSFER, DIVISION AND COMBINATION.

      All shares of Sybase Common Stock issued upon the exercise of this Warrant
shall be validly issued, fully paid and nonassessable and, if the Sybase Common
Stock is then listed on a national securities exchange or quoted on an automated
quotation system, shall be duly listed or quoted thereon.

      Sybase agrees to maintain at its principal office, books for the
registration and transfer of this Warrant, and, subject to the provisions of
Section 3 hereof, this Warrant and all rights hereunder are transferable, in
whole or in part, on such books at such office, upon surrender of this Warrant
at such office, together with a written assignment of this Warrant duly executed
by the Holder or his agent or attorney and funds sufficient to pay any stock
transfer taxes payable upon the making of such transfer. Upon such surrender and
payment, Sybase shall execute and deliver a new Warrant in the name of the
assignee and this Warrant shall promptly be canceled. If and when this Warrant
is assigned in blank, Sybase may (but shall not be obliged to) treat the bearer
hereof as the absolute owner of this Warrant for all purposes, and Sybase shall
not be affected by any notice to the contrary. A Warrant may be exercised by a
new holder for the purchase of Warrant Units without having a new Warrant
issued.

      This Warrant may be divided or combined with other Warrants upon
presentation hereof at Sybase's principal office, together with a written notice
specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or his agent or attorney. Subject to compliance with the
preceding paragraph as to any transfer that may be involved in such division or
combination, Sybase shall execute and deliver a new Warrant or Warrants in
exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice.

      SECTION 3. RESTRICTIONS ON EXERCISE AND TRANSFER OF WARRANTS AND SYBASE
COMMON STOCK.

      This Warrant shall be exercisable (a) only under circumstances such that
the issuance of Sybase Common Stock issuable upon such exercise is exempt from
the requirements of registration under the Securities Act of 1933, as amended
(or any similar statute then in effect) (the "1933 Act") and any applicable
state securities law or (b) upon registration of such Sybase Common Stock in
compliance therewith. This Warrant shall be transferable only upon satisfaction
of any restrictions on transfer contained in the Additional Agreements and
either (a) only under circumstances such that the transfer is exempt from the
requirements of registration under the 1933 Act and any applicable state
securities law or (b) upon registration (for resale or otherwise) of such
Warrant in compliance therewith. By acceptance hereof, the Holder (for resale or
otherwise) agrees to comply with such legislation.

      As long as this Warrant is not registered under the 1933 Act, before any
transfer or attempted transfer of all of this Warrant or such Sybase Common
Stock, the Holder shall give Sybase written notice of its intention so to do
describing briefly the manner of any such proposed transfer. Promptly after
receiving such written notice, Sybase shall present copies thereof to Company
counsel and to any special counsel designated by the Holder. If, in the opinion
of counsel for Sybase and counsel, if any, for the Holder, the proposed transfer
may be effected without registration under

<PAGE>   4
the 1933 Act and any applicable state securities law of any such securities,
Sybase, as promptly as practicable, shall notify the Holder of such opinion,
whereupon the securities proposed to be transferred may be transferred in
accordance with the terms of such notice. Sybase shall not be required to effect
any such transfer before the receipt of such favorable opinion or opinions or
the effectiveness of registration.

      SECTION 4. CERTAIN COVENANTS.

      Sybase covenants and agrees that it will at all times reserve and set
apart and have, free from preemptive rights, a number of shares of authorized
but unissued Sybase Common Stock, or other stock or securities deliverable
pursuant to this Warrant, sufficient to enable it at any time to fulfill all its
obligations hereunder.

      SECTION 5. NOTICES.

      In the event Sybase provides written notice to the holders of its Common
Stock of

            (a) Sybase proposes to declare, pay or set aside for payment any
dividend or other distribution with respect to the Sybase Common Stock or any
other class of securities of Sybase or purchase, redeem or otherwise acquire for
value any shares of Sybase Common Stock or any other class of securities of
Sybase,

            (b) Sybase proposes to grant to the holders of its Sybase Common
Stock generally any rights or options,

            (c) Sybase proposes to effect any capital reorganization or
reclassification of capital stock of Sybase,

            (d) Sybase proposes to consolidate with, or merge into, any other
corporation or to transfer its property as an entirety or substantially as an
entirety, or

            (e) Sybase proposes to effect the liquidation, dissolution or
winding up of Sybase,

then and in each such event Sybase will mail to the Holder hereof any such
notice delivered to the holders of its Common Stock, at the time and in the
manner such notice was provided to the holders of Sybase Common Stock.

      Any other notice or other document required or permitted to be given or
delivered to the holder of record of the Warrant shall be delivered by
facsimile, reliable courier or first-class mail postage prepaid to such holder
at the last address shown on the books of Sybase maintained for the registry and
transfer of the Warrant. Any notice or other document required or permitted to
be given or delivered to holders of record of Sybase Common Stock issued
pursuant to the Warrant shall be delivered by facsimile, reliable courier or
first-class mail postage prepaid to each such holder at such holder's address as
the same appears on the stock records of Sybase. Any notice or other document
required or permitted to be given or delivered to Sybase shall be delivered by
facsimile, reliable courier or first-class mail postage prepaid to the principal
office of Sybase, or such other address as

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shall have been furnished by Sybase in writing to the holder of record of such
Warrant and the holders of record of such Sybase Common Stock.

      SECTION 6. LIMITATION OF LIABILITY; NOT STOCKHOLDERS.

      No provision of this Warrant shall be construed as conferring upon the
Holder the right to vote or to consent or to receive dividends or to receive
notice as a stockholder in respect of meetings of stockholders for the election
of directors of Sybase or any other matter whatsoever as stockholders of Sybase.
No provision hereof, in the absence of affirmative action by the Holder to
purchase Warrant Units, and no mere enumeration herein of the rights or
privileges of the Holder, shall give rise to any liability of Holder for the
purchase price or as a stockholder of Sybase, whether such liability is asserted
by Sybase, creditors of Sybase or others.

      SECTION 7. LOSS, DESTRUCTION, ETC. OF WARRANT.

      Upon receipt of evidence satisfactory to Sybase of the loss, theft,
mutilation or destruction of the Warrant, and in the case of any such loss,
theft or destruction upon delivery of a bond of indemnity in such form and
amount as shall be reasonably satisfactory to Sybase, or in the event of such
mutilation upon surrender and cancellation of the Warrant, Sybase will make and
deliver a new Warrant, of like tenor, in lieu of such lost, stolen, destroyed or
mutilated Warrant. Any Warrant issued under the provisions of this Section 7 in
lieu of any Warrant alleged to be lost, destroyed or stolen, or of any mutilated
Warrant, shall constitute an original contractual obligation on the part of
Sybase.

      SECTION 8. EXERCISE OF WARRANT.

      This Warrant shall be exercisable at any time during the period commencing
on the date hereof and ending on March 31, 2005.

      For all purposes of this Section 8 and this Warrant, unless the context
otherwise requires, the following terms have the following respective meanings:

      SECTION 9. INVESTMENT INTENT.

      Unless a current registration statement under the Securities Act of 1933,
as amended, shall be in effect with respect to the securities to be issued upon
exercise of this Warrant, the Holder thereof, by accepting this Warrant,
covenants and agrees that, at the time of exercise hereof, and at the time of
any proposed transfer of securities acquired upon exercise hereof, such Holder
will deliver to Sybase a written statement that the securities acquired by the
Holder upon exercise hereof are for the own account of the Holder for investment
and are not acquired with a view to, or for sale in connection with, any
distribution thereof (or any portion thereof) and with no present intention (at
any such time) of offering and distributing such securities (or any portion
thereof).

      SECTION 10. NO RIGHTS OR LIABILITY AS A STOCKHOLDER.

      This Warrant does not entitle the Holder hereof to any voting rights or
other rights as a stockholder of Sybase. No provisions hereof, in the absence of
affirmative action by the Holder

<PAGE>   6
hereof to purchase Sybase Common Stock, and no enumeration herein of the rights
or privileges of the Holder hereof shall give rise to any liability of such
Holder as a stockholder of Sybase. Notwithstanding the foregoing, Sybase will
transmit to the Warrant holder such information, documents and reports as are
generally distributed to the Holders of any class or series of the securities of
Sybase concurrently with the distribution thereof to the stockholders.

      SECTION 11. DEFINITIONS.

      "SYBASE COMMON STOCK": (i) Sybase's presently authorized Sybase Common
Stock as such class exists on the date of this Warrant; (ii) securities issued
upon exercise of this Warrant; and (iii) stock of Sybase of any class thereafter
authorized that ranks, or is entitled to a participation, as to assets or
dividends, substantially on a parity with Sybase Common Stock.

      "SYBASE": Sybase, Inc., a Delaware corporation, and any other corporation
assuming Sybase's obligations with respect to this Warrant pursuant to this
Section 11.

      SECTION 12. REMEDIES.

      Sybase stipulates that the remedies at law of the Holder of this Warrant
in the event of any default or threatened default by Sybase in the performance
of or compliance with any of the terms of this Warrant are not and will not be
adequate and that, without limiting any other remedy available at law, such
terms may be specifically enforced by a decree for the specific performance of
any agreement contained herein or by an injunction against a violation of any of
the terms hereof. The rights and remedies of the Holder are cumulative and not
exclusive of any rights or remedies which the Holder might otherwise have.

      SECTION 13. COVENANTS TO BIND SUCCESSOR AND ASSIGNS.

      The terms of this Warrant shall bind the successors and permitted assigns
of the Holder and Sybase.

      SECTION 14. GOVERNING LAW.

      This Warrant shall be governed by the laws of the State of Delaware
without regard to its conflict of laws principles or rules.

                            [Signature on Next Page]

<PAGE>   7
      IN WITNESS WHEREOF, Sybase has caused this Warrant to be signed in its
name by its duly authorized officer.

Dated: January 20, 2000

                                          SYBASE, INC.,
                                          a Delaware corporation

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Its:
                                                --------------------------------

<PAGE>   8
                                     EXHIBIT

   [Attach Shareholder Agreement Which Is Exhibit to Reorganization Agreement]

<PAGE>   9
                                   EXHIBIT 4.6
               FORM OF WARRANT - INTELIDATA TECHNOLOGY CORPORATION

Warrant Certificate No.:  HFN 1                                Right to Purchase
                                                           640,000 Warrant Units

                               SUBSCRIPTION NOTICE

THE UNDERSIGNED, THE HOLDER, HEREBY ELECTS TO EXERCISE PURCHASE RIGHTS
REPRESENTED BY SUCH WARRANT FOR, AND TO PURCHASE THEREUNDER, ________ WARRANT
UNITS COVERED BY SUCH WARRANT AND HEREWITH MAKES PAYMENT IN FULL THEREFOR OF
$_________ IN CASH OR CERTIFIED CHECK AND REQUESTS THAT CERTIFICATES FOR SUCH
SHARES (AND ANY SECURITIES OR PROPERTY DELIVERABLE UPON SUCH EXERCISE) BE ISSUED
IN THE NAME OF AND DELIVERED TO _________________________________ WHOSE ADDRESS
IS ________________________________________________________________________.

      The undersigned agrees that, in the absence of an effective registration
statement with respect to Sybase Common Stock issued upon this exercise, the
undersigned is acquiring such Sybase Common Stock for investment and not with a
view to distribution thereof and that the certificate or certificates
representing such Sybase Common Stock may bear a legend substantially as
follows:

   "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
   UNDER THE SECURITIES ACT OF 1933 OR WITH ANY STATE SECURITIES COMMISSION, AND
   MAY NOT BE TRANSFERRED OR DISPOSED OF BY THE HOLDER IN THE ABSENCE OF A
   REGISTRATION STATEMENT WHICH IS EFFECTIVE UNDER THE SECURITIES ACT OF 1933
   AND APPLICABLE STATE LAWS AND RULES, OR, UNLESS, IMMEDIATELY PRIOR TO THE
   TIME SET FOR TRANSFER, SUCH TRANSFER MAY BE EFFECTED WITHOUT VIOLATION OF THE
   SECURITIES ACT OF 1933 AND OTHER APPLICABLE STATE LAWS AND RULES."

      Holder, by his acceptance and delivery of shares of Sybase Common Stock or
other securities upon exercise of this Warrant shall be deemed to have
represented and warranted that such shares of Sybase Common Stock or other
securities will be taken for his own account for investment and not with a view
to resale or distribution, except in compliance with applicable law.

      Neither this Warrant nor any shares of Sybase Common Stock constituting
the Warrant Units to be purchased pursuant to this Warrant have been registered
under the Securities Act of 1933 (the "Securities Act"). Therefore, unless this
Warrant or any shares of Sybase Common Stock to be purchased pursuant to this
Warrant have been registered under the Securities Act, Sybase may require, as a
condition of allowing the transfer or exchange of this Warrant or such shares,
that the holder or transferee of this Warrant or such shares, as the case may
be, furnish to Sybase an opinion of counsel reasonably acceptable to Sybase to
the effect that such transfer or exchange may be made without registration under
the Securities Act of 1933. The certificates evidencing the Sybase Common Stock
issued upon the exercise of the Warrant shall bear the legends set forth at the
beginning of this Warrant.
<PAGE>   10
     SECTION 2.     TRANSFER, DIVISION AND COMBINATION.

     All shares of Sybase Common Stock issued upon the exercise of this Warrant
shall be validly issued, fully paid and nonassessable and, if the Sybase Common
Stock is then listed on a national securities exchange or quoted on an automated
quotation system, shall be duly listed or quoted thereon.

     Sybase agrees to maintain at its principal office, books for the
registration and transfer of this Warrant, and, subject to the provisions of
Section 3 hereof, this Warrant and all rights hereunder are transferable, in
whole or in part, on such books at such office, upon surrender of this Warrant
at such office, together with a written assignment of this Warrant duly executed
by the Holder or his agent or attorney and funds sufficient to pay any stock
transfer taxes payable upon the making of such transfer. Upon such surrender and
payment, Sybase shall execute and deliver a new Warrant in the name of the
assignee and this Warrant shall promptly be canceled. If and when this Warrant
is assigned in blank, Sybase may (but shall not be obliged to) treat the bearer
hereof as the absolute owner of this Warrant for all purposes, and Sybase shall
not be affected by any notice to the contrary. A Warrant may be exercised by a
new holder for the purchase of Warrant Units without having a new Warrant
issued.

     This Warrant may be divided or combined with other Warrants upon
presentation hereof at Sybase's principal office, together with a written notice
specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or his agent or attorney. Subject to compliance with the
preceding paragraph as to any transfer that may be involved in such division or
combination, Sybase shall execute and deliver a new Warrant or Warrants in
exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice.

     SECTION 3.     RESTRICTIONS ON EXERCISE AND TRANSFER OF WARRANTS AND
SYBASE COMMON STOCK

     This Warrant shall be exercisable (a) only under circumstances such that
the issuance of Sybase Common Stock issuable upon such exercise is exempt from
the requirements of registration under the Securities Act of 1933, as amended
(or any similar statute then in effect) (the "1933 Act") and any applicable
state securities law or (b) upon registration of such Sybase Common Stock in
compliance therewith. This Warrant shall be transferable only upon satisfaction
of any restrictions on transfer contained in the Additional Agreements and
either (a) only under circumstances such that the transfer is exempt from the
requirements of registration under the 1933 Act and any applicable state
securities law or (b) upon registration (for resale or otherwise) of such
Warrant in compliance therewith. By acceptance hereof, the Holder (for resale or
otherwise) agrees to comply with such legislation.

     As long as this Warrant is not registered under the 1933 Act, before any
transfer or attempted transfer of all of this Warrant or such Sybase Common
Stock, the Holder shall give Sybase written notice of its intention so to do
describing briefly the manner of any such proposed transfer. Promptly after
receiving such written notice, Sybase shall present copies thereof to Company
counsel and to any special counsel designated by the Holder. If, in the opinion
of counsel for Sybase and counsel, if any, for the Holder, the proposed transfer
may be effected without registration under
<PAGE>   11

corporation ("HFN") in connection with the merger of HFN with On-Line Financial
Services, Inc., a Delaware corporation ("Merger Sub") a wholly owned subsidiary
of Sybase pursuant to the terms of that certain Agreement and Plan of
Reorganization, dated as of November 29, 1999, by and among Sybase, HFN, Merger
Sub, and certain principal shareholders of HFN and a shareholder representative
designated therein.

        This Warrant and any shares of Sybase Common Stock issued upon exercise
of this Warrant shall become subject to the terms of the Shareholder Agreement,
a copy of which is attached hereto as Exhibit A (the "Shareholder Agreement").

        This Warrant is subject to the following provisions, terms and
conditions:

        Section 1.    Exercise of Warrant.

        To exercise this Warrant in whole or in part, the Holder shall deliver
to Sybase at its principal office, (a) a written notice, in substantially the
form of the Subscription Notice appearing at the end of this Warrant, of the
Holder's election to exercise this Warrant which notice shall specify the number
of Warrant Units to be purchased, (b) cash or a certified check payable to
Sybase in an amount equal to the aggregate purchase price of the number of
Warrant Units being purchased, and (c) this Warrant. Sybase shall as promptly as
practicable, and in any event within 15 days thereafter, execute and deliver or
cause to be executed and delivered, in accordance with such notice, a
certificate or certificates representing the aggregate number of Warrant Units
specified in such notice. The stock certificate or certificates of Sybase Common
Stock delivered in connection therewith shall be issued in the name of the
Holder or such other name as shall be designated in such notice. Such
certificate or certificates shall be deemed to have been issued and the Holder
or any other person so designated to be named therein shall be deemed for all
purposes to have become a holder of record of such shares as of the date such
notice is received by Sybase as aforesaid. If this Warrant shall have been
exercised only in part, Sybase shall, at the time of delivery of said
certificate or certificates, deliver to the Holder a new Warrant evidencing the
rights of the Holder to purchase the remaining Warrant Units called for by this
Warrant, which new Warrant shall in all other respects be identical to this
Warrant, or, at the request of the Holder, appropriate notation may be made on
this Warrant and the same returned to the Holder. Sybase shall pay all expenses,
taxes and other charges payable in connection with the preparation, issue and
delivery of such stock certificates, except that, in case such stock
certificates shall be registered in a name or names other than the name of the
Holder, funds sufficient to pay all stock transfer taxes that are payable upon
the issuance of such stock certificate or certificates shall be paid by the
Holder at the time of delivering the notice of exercise mentioned above.
<PAGE>   12
Dated:
        -----------------------------     --------------------------------------
                                          Signature guaranteed:

<PAGE>   13
                                   EXHIBIT 4.6
               FORM OF WARRANT - INTELIDATA TECHNOLOGY CORPORATION

Warrant Certificate No.:  HFN 1                                Right to Purchase
                                                           640,000 Warrant Units

                                   ASSIGNMENT

      FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto ________________________ the rights represented by the foregoing Warrant
and appoints ________________________ attorney to transfer said rights on the
books of said corporation, with full power of substitution in the premises.

Dated:
        -----------------------------     --------------------------------------
                                          Signature guaranteed:

      NOTICE: The signature to this assignment must correspond with the name as
written upon the face of the within Warrant in every particular, without
alteration or enlargement or any change whatever.<PAGE>   1
                                                                     EXHIBIT 4.7

                     FORM OF WARRANT - MONTGOMERY SECURITIES

Warrant Certificate No.:  HFN 3
                                                               Right to Purchase
                                                            16,667 Warrant Units

THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR WHICH MAY BE ISSUED UPON
EXERCISE OF THE RIGHTS HEREIN GRANTED HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR WITH ANY STATE SECURITIES COMMISSION, AND
MAY NOT BE TRANSFERRED OR DISPOSED OF BY THE HOLDER IN THE ABSENCE OF A
REGISTRATION STATEMENT WHICH IS EFFECTIVE UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND APPLICABLE STATE LAWS AND RULES, OR, UNLESS, IMMEDIATELY PRIOR TO
THE TIME SET FOR TRANSFER, SUCH TRANSFER MAY BE EFFECTED WITHOUT VIOLATION OF
THE SECURITIES ACT OF 1933, AS AMENDED, AND OTHER APPLICABLE STATE LAWS AND
RULES.

THE RIGHTS EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS
SPECIFIED IN A CERTAIN INVESTOR AGREEMENT BETWEEN SYBASE AND THE ORIGINAL HOLDER
OF THESE SECURITIES, A COPY OF WHICH IS AVAILABLE FOR EXAMINATION AT THE
PRINCIPAL OFFICE OF SYBASE.

                                  SYBASE, INC.

                          COMMON STOCK PURCHASE WARRANT

                             VOID AFTER MAY 9, 2002

      SYBASE, INC., a Delaware corporation (the "Sybase"), hereby certifies
that, for value received, MONTGOMERY SECURITIES, or assigns (the "Holder"), is
entitled, subject to the terms set forth below, to purchase from Sybase at any
time or from time to time before 5:00 p.m. Pacific time, on March 31, 2002 (the
"Expiration Date"), 16,667 "Warrant Units" as hereinafter defined at the
purchase price per Warrant Unit equal to $3.00 and otherwise in accordance with
the terms hereof.

      As used herein the following terms, unless the context otherwise requires,
have the following respective meanings:

(a)   The term "Sybase" includes any corporation which shall succeed to or
      assume the obligations of Sybase hereunder.

(b)   The term "Warrant Unit" means $ 1.153448 in cash and 0.34794 shares of
      Sybase Common Stock.

(b)   The term "Sybase Common Stock" shall mean duly authorized, validly issued,
      fully paid and nonassessable shares of the Common Stock, $ 0.001 par
      value, of Sybase, and any other

<PAGE>   2

      securities or property of Sybase or of any other person (corporate or
      otherwise) which the Holder of this Warrant at any time shall be entitled
      to receive on the exercise hereof, in lieu of or on account of Sybase
      Common Stock, or which at any time shall be issuable in exchange for or in
      replacement of Sybase Common Stock.

      1.    Initial Exercise Date; Expiration. This Warrant may be exercised at
            any time or from time to time. It shall expire at 5:00 p.m., Pacific
            Time, on March 31, 2002.

      2.    Exercise of Warrant; Partial Exercise.

            This Warrant may be exercised in full or in part by the Holder
            hereof by surrender of this Warrant, with the form of subscription
            attached hereto duly executed by such Holder, to Sybase at its
            principal office, accompanied by payment, in cash or by certified or
            official bank check payable to the order of Sybase, of the purchase
            price of the shares of the Warrant Units to be purchased hereunder,
            the cancellation by the Holder of indebtedness of Sybase to the
            Holder in an amount equal to such purchase price, or any combination
            thereof. For any partial exercise hereof, the Holder shall designate
            in the subscription the number of Warrant Units that it wishes to
            purchase. On any such partial exercise, Sybase at its expense shall
            forthwith issue and deliver to the Holder hereof a new warrant of
            like tenor, in the name of the Holder hereof, which shall be
            exercisable for such number of Warrant Units represented by this
            Warrant which have not been purchased upon such exercise. No
            fractional shares of Sybase Common Stock shall be issued upon
            exercise of this Warrant and any fractional share shall be rounded
            down to the next whole share of Sybase Common Stock without any
            adjustment in the cash consideration included in the Warrant Unit.

      3.    When Exercise Effective. The exercise of this Warrant shall be
            deemed to have been effected immediately prior to the close of
            business on the business day on which this Warrant is surrendered to
            Sybase as provided in Section 2, and at such time the person in
            whose name any certificate for shares of Sybase Common Stock shall
            be issuable upon such exercise, as provided in Section 4, shall be
            deemed to be the record holder of such Sybase Common Stock for all
            purposes.

      4.    Delivery on Exercise. As soon as practicable after the exercise of
            this Warrant in full or in part, and in any event within five
            business days thereafter, Sybase at its expense (including the
            payment by it of any applicable issue taxes) will cause to be issued
            in the name of and delivered to the Holder hereof, or as such Holder
            may direct, the Warrant Units (including the cash portion of the
            Warrant Unit and a certificate or certificates for the number of
            fully paid and nonassessable full shares of Sybase Common Stock
            constituting the stock portion of the Warrant Unit) to which such
            Holder shall be entitled on such exercise.

      5.    No Dilution or Impairment. Sybase will not, by amendment of its
            Certificate of Incorporation avoid the observance or performance of
            any of the terms of this Warrant, but will at all times in good
            faith assist in the carrying out of all the terms hereof.

<PAGE>   3

      6.    Notices of Record Date. In the event Sybase provides written notice
            to the holders of its Common Stock of

                  (a)   any taking by Sybase of a record of the Holders of any
                  class of securities for the purpose of determining the Holders
                  thereof who are entitled to receive any dividend or other
                  distribution, or any right to subscribe for, purchase or
                  otherwise acquire any shares of stock of any class or any
                  other securities or property, or to receive any other right,
                  or

                  (b)   any capital reorganization of Sybase, any
                  reclassification or recapitalization of the capital stock of
                  Sybase, or any transfer of all or substantially all the assets
                  of Sybase to or consolidation or merger of Sybase with or into
                  any other person, or

                  (c)   any voluntary or involuntary dissolution, liquidation or
                  winding-up of Sybase, or

                  (d)   any proposed issue or grant by Sybase of any shares of
                  stock of any class or any other securities, or any right or
                  option to subscribe for, purchase or otherwise acquire any
                  shares of stock of any class or any other securities,

            then and in each such event Sybase will mail to the Holder hereof
            any such notice delivered to the holders of its Common Stock, at the
            time and in the manner such notice was provided to the holders of
            Sybase Common Stock.

      7.    Exchange of Warrants. On surrender for exchange of this Warrant,
            properly endorsed, to Sybase, Sybase at its expense will issue and
            deliver to or on the order of the Holder thereof a new Warrant of
            like tenor, in the name of such Holder or as such Holder may direct,
            calling in the aggregate on the face thereof for the number of
            Warrant Units called for on the face of the Warrant so surrendered.

      8.    Replacement of Warrants. On receipt by Sybase of evidence reasonably
            satisfactory to Sybase of the loss, theft, destruction or mutilation
            of this Warrant and, in the case of any such loss, theft or
            destruction of this Warrant, on delivery of an indemnity agreement
            reasonably satisfactory in form and amount to Sybase or, in the case
            of any such mutilation, on surrender and cancellation of such
            Warrant, Sybase at its expense will execute and deliver, in lieu
            thereof, a new Warrant of like tenor.

      9.    Investment Intent. Unless a current registration statement under the
            Securities Act of 1933, as amended, shall be in effect with respect
            to the securities to be issued upon exercise of this Warrant, the
            Holder thereof, by accepting this Warrant, covenants and agrees
            that, at the time of exercise hereof, and at the time of any
            proposed transfer of securities acquired upon exercise hereof, such
            Holder will deliver to Sybase a written statement that the
            securities acquired by the Holder upon exercise hereof are for the
            own account of the Holder for investment and are not acquired with a
            view to, or for sale in connection with, any distribution thereof
            (or any portion thereof) and with no

<PAGE>   4

            present intention (at any such time) of offering and distributing
            such securities (or any portion thereof).

      10.   Transfer. Subject to the transfer conditions referred to in the
            legend endorsed hereon, this Warrant and all rights hereunder are
            transferable, in whole or in part, without charge to the Holder
            hereof upon surrender of this Warrant with a properly executed
            assignment (in the form annexed hereto) at the principal office of
            Sybase. Upon any partial transfer, Sybase will at its expense issue
            and deliver to the Holder hereof a new Warrant of like tenor, in the
            name of the Holder hereof, which shall be exercisable for such
            number of Warrant Units which were not so transferred.

      11.   No Rights or Liability as a Stockholder. This Warrant does not
            entitle the Holder hereof to any voting rights or other rights as a
            stockholder of Sybase. No provisions hereof, in the absence of
            affirmative action by the Holder hereof to purchase Sybase Common
            Stock, and no enumeration herein of the rights or privileges of the
            Holder hereof shall give rise to any liability of such Holder as a
            stockholder of Sybase. Notwithstanding the foregoing, Sybase will
            transmit to the Warrant holder such information, documents and
            reports as are generally distributed to the Holders of any class or
            series of the securities of Sybase concurrently with the
            distribution thereof to the stockholders.

      12.   Damages. Sybase recognizes and agrees that the Holder hereof will
            not have an adequate remedy if Sybase fails to comply with the terms
            of this Warrant and that damages will not be readily ascertainable,
            and Sybase expressly agrees that, in the event of such failure, it
            shall not oppose an application by the Holder of this Warrant or any
            other person entitled to the benefits of this Warrant requiring
            specific performance of any and all provisions hereof or enjoining
            Sybase from continuing to commit any such breach of the terms
            hereof.

      13.   Registration Rights. Sybase covenants and agrees as follows:

            13.1  Grant of Rights. Sybase hereby grants to the initial Holder of
            this Warrant the rights set forth in the Shareholder Agreement,
            executed by Sybase and the Holder concurrently with the issuance of
            this Warrant (the "Shareholder Agreement"). Each of Sybase and the
            Holder severally covenants and agrees that it shall comply with each
            of the covenants and agreements contained in the Shareholder
            Agreement, which covenants and agreements are expressly incorporated
            herein by reference as though stated herein in full.

            13.2  No Conflicting Agreements. Sybase represents and warrants to
            the Holder that Sybase is not a party to any agreement that
            conflicts in any manner with the Holder's rights to cause Sybase to
            register Registrable Securities pursuant to the Shareholder
            Agreement. Sybase covenants and agrees that it shall not, without
            the prior written consent of the holders of two thirds of the
            outstanding Registrable Securities, amend, modify or restate the
            Shareholder Agreement, if, without the written consent of the
            Holder, the Holder would be adversely affected by the

<PAGE>   5

            amendment in a different manner than other holders of "Registrable
            Securities" (as defined in the Shareholder Agreement) similarly
            situated.

            13.3  Rights and Obligations Survive Exercise and Expiration of
            Warrant. The rights and obligations of Sybase and the Holder set
            forth in this Section 13 and in the Shareholder Agreement shall
            survive the exercise and expiration of this Warrant.

      14.   Notices. All notices referred to in this Warrant shall be in writing
            and shall be delivered personally or by certified or registered
            mail, return receipt requested, postage prepaid and will be deemed
            to have been given when so delivered or mailed (i) to Sybase, at its
            principal executive offices and (ii) to the Holder of this Warrant,
            at such Holder's address as it appears in the records of Sybase
            (unless otherwise indicated by such Holder).

      15.   Payment of Taxes. All shares of Sybase Common Stock issued upon the
            exercise of this Warrant shall be validly issued, fully paid and
            nonassessable, and Sybase shall pay all taxes and other governmental
            charges that may be imposed upon Sybase in respect to the issue or
            delivery thereof. The foregoing shall not make Sybase liable for any
            net income taxes levied upon the Holder with respect to the
            issuance, exercise, sale, exchange, or other transfer of this
            Warrant or the sale, exchange, or other transfer of the Sybase
            Common Stock or other property to be issued upon exercise or
            surrender by the Holder of this Warrant.

      16.   Legends On Shares Issued. The Sybase Common Stock issued upon
            exercise of the rights granted herein shall bear the legends set
            forth at the beginning of this Warrant, unless and until such
            legends are removed in accordance with the Shareholder Agreement.

      17.   Miscellaneous. This Warrant and any term hereof may be changed,
            waived, discharged or terminated only by an instrument in writing
            signed by the party against which enforcement of such change,
            waiver, discharge or termination is sought. This Warrant shall be
            governed by and construed and enforced in accordance with the
            internal laws of the State of California (without reference to any
            principles of the conflicts of laws). The headings in this Warrant
            are for purposes of reference only, and shall not limit or otherwise
            affect any of the terms hereof.

<PAGE>   6

      IN WITNESS WHEREOF, Sybase has caused this Warrant to be signed in its
name by its duly authorized officers.

Dated: January 20, 2000

                                          SYBASE, INC., a Delaware corporation

                                          By: _________________________________

                                          Name: _______________________________

                                          Title: ______________________________

                      [Signature Page - Montgomery Warrant]

<PAGE>   7

Warrant Certificate No.:  HFN 3

                              FORM OF SUBSCRIPTION

                    (To be signed only on exercise of Warrant)

TO _______________________________

      The undersigned, the Holder of the within Warrant, hereby irrevocably
elects to exercise the purchase right represented by such Warrant for, and to
purchase thereunder, _______________(1) Warrant Units consisting of $__________
of cash in the aggregate and ____ shares of Common Stock of Sybase, Inc. in the
aggregate, and herewith makes payment of $______________ therefor, and requests
that such cash and the certificates for such shares be issued in the name of,
and delivered to __________________________________________________ whose
address is _______________________________________________________.

                                          _____________________________________

                                          (Signature must conform in all
                                          respects to name of Holder as
                                          specified on the face of the Warrant)

                                          _____________________________________

                                          _____________________________________
                                                        (Address)

Dated:

_____________________________, 200_

--------------
      (1) Insert here the number of Warrant Units as to which the Warrant is
being exercised.

<PAGE>   8

Warrant Certificate No.: HFN 3

                               FORM OF ASSIGNMENT

      For value received, the undersigned hereby sells, assigns, and transfers
unto ____________________the right represented by the within Warrant to purchase
shares of Common Stock of Sybase, Inc. to which the within Warrant relates, and
appoints ___________________________________Attorney to transfer such right on
the books of ____________________________________________ with full power of
substitution in the premises.

                                          _____________________________________

                                          (Signature must conform in all
                                          respects to name of Holder as
                                          specified on the face of the Warrant)

                                          _____________________________________

                                          _____________________________________
                                                        (Address)

Dated:

_____________________________, 2000

<PAGE>   9

                               EXHIBIT TO WARRANT

   [Attach Shareholder Agreement which is Exhibit to Reorganization Agreement]

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