Document:

Unisys Corp Elected Officer Pension Plan as Amended

 Exhibit 10.26 
 UNISYS CORPORATION 
 ELECTED OFFICER PENSION PLAN 
 AS AMENDED AND RESTATED 
 EFFECTIVE JANUARY 1, 2009 
 ARTICLE I 
 PURPOSE 
 1.01 The Plan was previously adopted by the Company to provide a minimum level of retirement benefits for elected Officers (as defined in
Section 2.12 below) of the Company. The Plan originally became effective June 1, 1988, and was previously amended and restated several times since its effective date. The Plan was frozen effective after December 31, 2006, so that no
additional benefits may be accrued thereunder after December 31, 2006. The Plan is now hereby further amended and restated effective January 1, 2009 to implement changes required pursuant to and consistent with section 409A of the Code.
Benefit payments on or after January 1, 2009 are generally governed by this Plan document as amended and restated effective January 1, 2009. Plan benefit payments commencing prior to January 1, 2009 are governed by the terms of the
Plan as they existed prior to this amendment and restatement and are either grandfathered from the requirements of section 409A or payable pursuant to a fixed schedule as required by, and in compliance with, section 409A. Between January 1,
2005 and December 31, 2008 the Plan has been operated in accordance with transition relief established by the Treasury Department and Internal Revenue Service pursuant to Code section 409A. This amendment and restatement is adopted in
conformity with final regulations under section 409A of the Code issued by the Treasury Department on April 10, 2007 and effective January 1, 2009. The Plan as set forth herein only applies to those Participants in the Plan who are
entitled to commence a benefit from the Plan after December 31, 2008, but does not apply to any Participant’s Pre-2005 Benefit (as defined in Section 2.17 below). Any Participant who is entitled to commence his or her Pre-2005 Benefit
from the Plan after December 31, 2008, and (a) who terminated employment prior to January 1, 2005, shall have the terms and conditions of his or her Pre-2005 Benefit governed by the terms and conditions of the Plan as in effect on the
date of his or her termination of employment, or (b) who terminates employment at any time on or after January 1, 2005, shall have the terms and conditions of his or her Pre-2005 Benefit governed by the terms and conditions of the Plan as
in effect on October 3, 2004. All capitalized terms shall have the meanings set forth in Article II below, unless the context clearly indicates otherwise. 

 ARTICLE II 
 DEFINITIONS 
  

	2.01	“Board” shall mean the Board of Directors of Unisys Corporation. 

  

	2.02	“Change in Control” means any of the following events: 

  

	 	(a)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding
Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and
(iii) of subsection (c) of this Section 2.17; or 

  

	 	(b)	Individuals who, as of May 25, 1995, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

  

	 	(c)	 Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business
Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding
Company Voting Securities immediately 

  

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prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and
the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately
prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business Combination or any employee benefit
plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting
from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the
members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business
Combination; or 

  

	 	(d)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  

	2.03	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

  

	2.04	“Committee” shall mean the Compensation Committee of the Board or its delegate. 

  

	2.05	“Company” shall mean Unisys Corporation, a Delaware corporation. 

  

	2.06	“Company Plan” shall mean the Unisys Pension Plan. 

  

	2.07	“Credited Service” shall mean the Participant’s Credited Service, as defined in Article IV. 

  

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	2.08	“Date of an Insolvency” shall mean the date on which the Company (i) voluntarily files a petition under the United States Bankruptcy Code, (including a
petition for Chapter 11 reorganization) or (ii) has filed involuntarily against it a petition under the United States Bankruptcy Code and an Order for Relief is entered thereon. 

  

	2.09	“Disability” shall refer to a Participant who is determined by the Committee or its designee to be unable to perform, because of injury or sickness, each of the
regular duties of the Participant’s occupation for a period of up to 24 months. After 24 months, the Participant will continue to be considered Disabled if the Committee or its designee determines that the Participant cannot perform each of the
regular duties of any gainful occupation for which he or she is fitted by training, education or experience. 

  

	2.10	“Effective Date” shall mean January 1, 2009, the effective date of this amendment and restatement of the Plan. 

  

	2.11	“Employee” shall mean any person employed by Unisys Corporation or one of its subsidiaries. 

  

	2.12	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

  

	2.13	“Final Average Compensation” shall mean the Participant’s Final Average Compensation, as defined in the Company Plan, except that any salary amounts deferred
under an arrangement approved by the Board not included by the Company Plan and any amounts excluded from consideration under the Company Plan due to the application of Code section 401(a)(17) shall be included in the calculation of Final Average
Compensation in the month in which such amounts were or would otherwise have been paid; provided, however, that no more than the most recent five annual bonus amounts (whether paid or deferred) shall be included in the calculation of Final Average
Compensation. Notwithstanding any provision in this Plan to the contrary, for purposes of this Plan a Participant’s Final Average Compensation shall be frozen as of December 31, 2006 (or such earlier date, if applicable) and no changes in
salary after such date shall be taken into account for purposes of determining Final Average Compensation. 

  

	2.14	“Officer” shall mean any officer of the Company elected by the Board, but excluding assistant officers, appointed officers or the general auditor.

  

	2.15	“Participant” shall mean any person entitled to participate in this Plan under Article III. 

  

	2.16	“Plan” shall mean the Unisys Corporation Elected Officer Pension Plan, as set forth herein and as hereafter amended. 

  

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	2.17	“Pre-2005 Benefit” shall mean for any Participant that portion of the Participant’s benefit under the Plan that was earned and vested on December 31,
2004, within the meaning of Treasury Regulations section 1.409A-6(a)(2). For purposes of determining the present value of the Pre-2005 Benefit in accordance with Treasury Regulations section 1.409A-6(a)(3), the actuarial assumptions in Appendix C
Table IX of the Company Plan shall be applied. 

  

	2.18	“Primary Social Security Benefit” shall mean the annualized amount calculated according to the rules for computing the primary social security benefit payable to a
Participant upon attainment of Social Security Retirement Age under the Federal Social Security Act as in effect at the time the Participant has a Separation From Service. In the event that a Participant retires prior to attainment of eligibility
for Social Security benefits, the Participant’s Primary Social Security Benefit shall be deemed to be 80% of the Primary Social Security Benefit payable at Social Security Retirement Age. In the event the Participant retires after attainment of
eligibility for Social Security benefits, but before Social Security Retirement Age, the Primary Social Security Benefit shall be deemed to be an amount prorated between the benefit payable at Social Security Retirement Age and 80% of such amount.
For purposes of this calculation, it will be assumed that the Participant has no earnings for Social Security purposes beyond the date of Separation From Service. Notwithstanding any provision in this Plan to the contrary, a Participant shall not
accrue additional service or earnings for purposes of determining the Primary Social Security Benefit after December 31, 2006. 

  

	2.19	“Separation From Service” shall mean a Participant’s separation from service with the Company within the meaning of section 409A of the Code and the
regulations issued thereunder. 

  

	2.20	“Specified Employee” shall mean any Participant who, at any time during the twelve month period ending on the identification date (as determined by the Board or its
delegate), is a specified employee under section 409A of the Code, as determined by the Board (or its delegate). The determination of “specified employees,” including the number and identity of persons considered “specified
employees” and identification date, shall be made by the Board (or its delegate) in accordance with the provisions of sections 416(i) and 409A of the Code and the regulations issued thereunder. 

  

	2.21	“Supplemental Plan” shall mean the Unisys Corporation Supplemental Executive Retirement Income Plan, as amended and restated as of January 1, 2009 and as
amended from time to time. 

 Unless otherwise specified, capitalized words and phrases used in this Plan shall have the same meaning as such
words or phrases when used in the Company Plan. 
  

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 ARTICLE III 
 PARTICIPATION AND VESTING 
  

	3.01	Participation 

 An Officer shall become a
Participant in the Plan on the later of (i) the Effective Date or (ii) the effective date on which the Officer is elected to officer status by the Board. Notwithstanding any provision in this Plan to the contrary, an Employee who is
elected as an Officer on or after January 1, 2007 shall not become a Participant in the Plan on or after such date (or resume participation in the Plan if rehired on or after such date). 
  

	3.02	Vesting 

  

	 	(a)	Each Participant shall acquire a vested right to a retirement benefit calculated in accordance with Article V on the earliest to occur of the following: 

  

	 	(1)	the date on which the Participant attains age 55 and completes 10 years of Credited Service, provided that the Participant is or becomes an Officer on or after such date; or

  

	 	(2)	the date on which occurs a Change in Control or the Date of an Insolvency, provided the Participant is an Officer on such date; or 

  

	 	(3)	for a Participant who is or becomes an Officer on or after January 1, 1997 and before July 19, 2001, the date on which the Participant attains age 50 and completes
5 years of Credited Service, provided that the Participant is employed by the Company or an Affiliated Company on or after December 31, 1998; or 

  

	 	(4)	The date specified in a written agreement between a Participant and the Company, provided that for agreements entered into on and after May 22, 1997, such agreements must be
approved by the Committee. 

  

	 	(b)	A Participant who has a Separation From Service with the Company due to Disability or death. 

  

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 ARTICLE IV 
 CREDITED SERVICE 
  

	4.01	Credited Service 

 Credited Service under this Plan
shall be calculated on the basis of Credited Service as defined in the Company Plan for the following periods: 
  

	 	(a)	periods of employment as an Officer; and 

  

	 	(b)	up to twelve months of active employment with the Company immediately following termination of Officer status, or, if longer, the number of months of a Company approved leave of
absence due to Disability immediately following termination of Officer status; and 

  

	 	(c)	employment prior to becoming an Officer with the Company including a predecessor or an Affiliated Company or 50% Affiliated Company for the period of time such company was an
Affiliated Company or 50% Affiliated Company. However, if a Participant receives Credited Service under the Company Plan for employment with a company before it became an Affiliated Company or 50% Affiliated Company, Credited Service shall include
the period of employment with such company. 

  

	 	(d)	Notwithstanding any provision in this Plan to the contrary, a Participant shall not accrue Credited Service for purposes of the calculation of Plan benefits after December 31,
2006, but shall continue to accrue Credited Service for purposes of vesting under Section 3.02 and for purposes of eligibility to receive early retirement benefits and subsidies. 

  

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 ARTICLE V 
 CALCULATION OF BENEFITS 
  

	5.01	Amount of Benefits 

  

	 	(a)	Subject to the adjustments set forth in Section 5.02, a Participant who satisfies the vesting requirements described in Section 3.02(a) shall receive an annual retirement
benefit payable at Normal Retirement Date equal to: 

  

	 	(1)	4% of the Participant’s Final Average Compensation for each year of Credited Service not in excess of 10 including proportional credit for a fraction of a year; plus

  

	 	(2)	1% of the Participant’s Final Average Compensation for each year of Credited Service in excess of 10 (but not in excess of 30) including proportional credit for a fraction of a
year; minus 

  

	 	(3)	50% of the Participant’s Primary Social Security Benefit. 

  

	 	(b)	The benefit payable from this Plan and described in paragraph (a) shall be a monthly benefit paid in the form of a single life annuity if the Participant is unmarried on the
date that the Participant commences receipt of benefits, or in the form of a joint and 50% surviving spouse annuity if the Participant is married on the date the Participant commences receipt of benefits. The benefit payable to a Participant shall
not be reduced or increased as a result of such payment in the surviving spouse benefit form or for any age difference between the Participant and spouse. 

  

	5.02	Early Retirement Prior to Age 62 

 Benefits paid
under this Plan shall be reduced by one-half of one percent (0.5%) for each calendar month by which the commencement of benefits precedes the first day of the month coincident with or next following the Participant’s 62nd birthday, provided
that benefits cannot commence prior to the first day of the month following the month the Participant attains age 55. 
  

	5.03	Death Benefits 

  

	 	(a)	In the event of the death of a Participant who, at the time of death, has satisfied the vesting requirements described in Section 3.01(a) above, and who:

  

	 	(1)	has not commenced retirement benefits under this Plan; and 

  

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	 	(2)	who has a surviving spouse, 

 such Participant’s
surviving spouse shall receive a survivor’s benefit in the amount described in paragraph (b). 
  

	 	(b)	The amount payable under this paragraph shall be equal to the benefit the spouse would have received if the Participant: 

  

	 	(1)	had a Separation From Service on the earlier of the date of death or the date of the Participant’s actual Separation From Service; and 

  

	 	(2)	had survived to the benefit commencement date described in paragraph (c); and 

  

	 	(3)	had begun to receive an immediate retirement benefit in the form under Section 5.01(b); and 

  

	 	(4)	had died on the following day. 

  

	 	(c)	The benefit payable under this Section shall be paid to the surviving spouse in the form of a single life annuity and shall commence on the later of the first day of the month
following the (i) month in which the Participant’s death occurs, or (ii) date the Participant would have attained age 55. 

  

	 	(d)	If at the time of the Participant’s death the Participant had not commenced receipt of the benefits under the Plan, no benefit will be payable under the Plan if the Participant
does not have a surviving spouse at the time of his or her death. 

  

	5.04	Benefit Offset 

 The retirement benefit determined
under this Article and payable to a Participant or surviving spouse shall be reduced by the Participant’s Pre-2005 Benefit, if any, and any benefits payable under the Company Plan and the Supplemental Plan, calculated in accordance with
Section 6.01. 
  

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 ARTICLE VI 
 BENEFIT PAYMENTS 
  

	6.01	Form of Benefit Payment 

 For purposes of
determining the offset under Section 5.05, the Participant shall be deemed to be in receipt of the Pre-2005 Benefit and the amount of benefit payable under the Company Plan as if the Participant had elected the Qualified Joint and 50% Survivor
Annuity under the Company Plan if the Participant is married on the date of payment from this Plan, or a single life annuity if the Participant is not married on the date of payment from this Plan, determined under the Company Plan as of the date on
which the Participant’s benefit commences pursuant to Section 6.02, regardless of whether the Pre-2005 Benefit or the Company Plan benefit is actually payable on that date. The benefit payable under the Supplemental Plan shall be
determined in accordance with the terms of the Supplemental Plan, which is payable in the same form and at the same time as the benefit is paid under this Plan, except with respect to benefits under the Supplemental Plan that were earned and vested
prior to January 1, 2005. For this purpose, the Pre-2005 Benefit and the benefit payable under the Company Plan shall be calculated using the applicable actuarial assumptions in effect under the Company Plan on the date of payment from the
Plan. The actuarial assumptions shall be applied separately to that portion of each benefit that comprises the Residual Annuity and that portion that comprises the Retirement Accumulation Account; provided that with respect to that portion of each
benefit that comprises the Retirement Accumulation Account such benefit shall be determined by taking the Annuity Equivalent of the Participant’s account(s) on the date of payment from the Plan. The total of these two benefit portions under the
Company Plan shall comprise the Company Plan offset, and the total of these two portions of the Pre-2005 Benefit shall comprise the Pre-2005 Benefit offset. The calculations will be made by utilizing methods and assumptions that the Committee deems
to be reasonable and consistent with the requirements of section 409A of the Code and the regulations issued thereunder. 
  

	6.02	Commencement of Benefits 

 Payment of a
Participant’s vested benefits shall commence to be paid to the Participant on the first day of the month following the month in which the later of the following two events occurs: (i) the Participant’s Separation From Service, or
(ii) the Participant attains age 55; provided, however, that, if the Participant’s Separation From Service occurs after his or her attainment of age 55 and if at such time the Participant is a Specified Employee, the payment of the
Participant’s benefit shall not commence until the first day of the month next following the six month anniversary of the Participant’s Separation From Service; provided, that 

  

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such first payment shall include the monthly payments, without interest, that would have been paid to the Participant for the first six months following his
or her Separation From Service, but for this delay. 
  

	6.03	Funding of Benefits 

 Benefits under this Plan shall
not be funded and shall be paid out of the general assets of the Company. The Company shall not be required to segregate any funds for the Plan’s Participants. Notwithstanding any provision in this Section 6.03 to the contrary, the
Committee shall have the discretion but not the obligation to fund this Plan through a trust of the type described in Internal Revenue Service Private Letter Ruling 8502023. 
  

	6.04	Forfeiture of Benefits 

  

	 	(a)	Any benefit payable under this Plan shall be forfeited and no further benefits shall be payable hereunder if it is determined by the Committee that a Participant is engaged or
employed as a business owner, employee or consultant in any activity which is in competition with any line of business of the Company existing as of the date of the Participant’s Separation From Service with the Company.

  

	 	(b)	Additionally, any benefit payable under this Plan shall be forfeited and no further benefits shall be payable hereunder in the event it is found by the Committee that a Participant,
either during or following termination of employment with the Company, willfully engaged in any activity which is determined by the Committee to be materially adverse or detrimental to the interests of the Company, including any activity that might
reasonably be considered by the Committee to be of a nature warranting dismissal of an employee for cause. If the Committee so finds, it shall require the forfeiture of benefits to the Participant and, after furnishing notice to the Participant,
shall terminate benefits under this Plan and no further benefits shall be paid. The Committee will consider in its deliberation relative to this provision any explanation or justification submitted to it in writing by the Participant within 60 days
following the giving of such notice. 

  

	 	(c)	Except as heretofore provided for in this Section 6.04, the acceptance by a Participant of any benefit under this Plan shall constitute an agreement with the provisions of this
Plan and a representation that he or she is not engaged or employed in any activity serving as a basis for suspension and forfeiture of benefits hereunder. By accepting a benefit under this Plan each Participant acknowledges that he or she will
accept payment of benefits under this Plan only if there is no basis for such forfeiture. 

  

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 ARTICLE VII 
 ADMINISTRATION 
  

	7.01	Committee 

 The Plan shall be administered by the
Committee, which shall administer the Plan in a manner consistent with the administration of the Company Plan, except that this Plan shall be administered as an unfunded plan that is not intended to meet the requirements of section 401(a) of the
Code. The Committee shall be the Plan administrator and named fiduciary of the Plan that has the discretionary authority to control and manage the operation and administration of the Plan. The Committee has the discretionary authority to supply
omissions, make factual determinations, and to decide any dispute that may arise regarding the rights of Participants. All such decisions are binding and conclusive on all interested parties. 
  

	7.02	Claims Procedure. 

  

	 	(a)	Claims. Any person or entity claiming a benefit, requesting an interpretation or ruling under the Plan (hereinafter referred to as “claimant”), or requesting
information under the Plan shall present the request in writing to the Committee, which shall respond in writing or electronically. The notice advising of the denial shall be furnished to the claimant within ninety (90) days of receipt of the
benefit claim by the Committee, unless special circumstances require an extension of time to process the claim. If an extension is required, the Committee shall provide notice of the extension prior to the termination of the ninety (90) day
period. In no event may the extension exceed a total of one hundred eighty (180) days from the date of the original receipt of the claim. 

  

	 	(b)	Denial of Claim. 

 If the claim or request is
denied, the written or electronic notice of denial shall state: 
  

	 	•	 	 The reason(s) for denial; 

  

	 	•	 	 Reference to the specific Plan provisions on which the denial is based; 

  

	 	•	 	 A description of any additional material or information required and an explanation of why it is necessary; and 

  

	 	•	 	 An explanation of the Plan’s claims review procedures and the time limits applicable to such procedures, including the right to bring a civil action under
section 502(a) of ERISA. 

  

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	 	(c)	Review of Claim. 

 Any claimant whose claim or
request is denied or who has not received a response within sixty (60) days may request a review by notice given in writing or electronic form to the Committee. Such request must be made within sixty (60) days after receipt by the claimant
of the written or electronic notice of denial, or in the event the claimant has not received a response, sixty (60) days after receipt by the Committee of the claimant’s claim or request. The claim or request shall be reviewed by the
Committee which may, but shall not be required to, grant the claimant a hearing. On review, the claimant may have representation, examine pertinent documents, and submit issues and comments in writing. 
  

	 	(d)	Final Decision. 

 The decision on review shall
normally be made within sixty (60) days after the Committee’s receipt of claimant’s claim or request. If an extension of time is required for a hearing or other special circumstances, the claimant shall be notified and the time limit
shall be one hundred twenty (120) days. The decision shall be in writing or in electronic form and shall: 
  

	 	•	 	 state the specific reason(s) for the denial; 

  

	 	•	 	 reference the relevant Plan provisions; 

  

	 	•	 	 state that the claimant is entitled to receive, upon request and free of charge, and have reasonable access to and copies of all documents, records and other
information relevant to the claim for benefits; and 

  

	 	•	 	 state that the claimant may bring an action under section 502(a) of ERISA. 

 All decisions on review shall be final and bind all parties concerned. 
  

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	7.03	Plan Amendment and Termination 

 The Company expects
to continue this Plan indefinitely, but reserves the right to amend or discontinue it if, in its sole judgment, such a change is deemed necessary or desirable. However, if the Company should amend or discontinue this Plan, the Company shall be
liable for any benefits accrued under this Plan (determined on the basis of each Participant’s presumed termination of employment as of the date of such amendment or discontinuance) as of the date of such action. Any change to the Plan which
adversely affects a Participant’s or Beneficiary’s rights to benefits and/or the amount, form and manner in which benefits are accrued, vested and/or paid shall not affect the Participant’s or Beneficiary’s benefits accrued up to
the date of the change. Changes which adversely affect a Participant’s or Beneficiary’s rights under the Plan may only take effect on the adoption date of the change and on a going forward basis. Notwithstanding the foregoing, no
Participant consent is necessary if any modification, amendment, suspension or termination of the Plan is necessary to comply with the requirements of section 409A of the Code and its corresponding regulations. 
  

	7.04	No Employment Rights 

 Neither the action of the
Company in establishing the Plan, nor any provisions of the Plan, nor any action taken by the Company or by the Committee shall be construed as giving to any employee of the Company or any of its subsidiaries the right to be retained in its employ,
or any right to payment except to the extent of the benefits provided by the Plan. 
  

	7.05	Severability of Provisions 

 If any provision of
this Plan is determined to be void by any court of competent jurisdiction, the Plan shall continue to operate and, for the purposes of the jurisdiction of that court only, shall be deemed not to include the provision determined to be void.

  

	7.06	Non-Assignability 

 Except as required by applicable
law, no benefits under this Plan shall be subject in any manner to alienation, anticipation, sale, transfer, assignment, pledge, or encumbrance. 
  

	7.07	Withholding 

 All federal, state and local income,
employment or other taxes required to be withheld in connection with a benefit accrued and paid under the Plan shall be the 

  

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sole responsibility of the Participant. To the extent not otherwise paid for by Participant, to satisfy its withholding obligations the Company shall have
the right to deduct from any wages or other compensation payable to the Participant or any payment made pursuant to this Plan any such taxes, as the Committee may determine in its sole discretion. 
  

	7.08	Code Section 409A 

 The Plan is intended to
comply with the applicable requirements of section 409A of the Code and related guidance, and shall be administered in accordance therewith. Notwithstanding anything in the Plan to the contrary, distributions from the Plan may only be made under the
Plan upon an event and in a manner permitted by section 409A of the Code and related guidance. To the extent that any provision of the Plan would cause a conflict with the requirements of section 409A of the Code and related guidance, or would cause
the administration of the Plan to fail to satisfy the requirements of section 409A and related guidance, such provision shall be deemed null and void. In no event shall a Participant, directly or indirectly, designate the calendar year of payment of
benefits under the Plan. 
  

	7.09	Governing Law 

 Except to the extent superseded by
ERISA, all questions pertaining to the validity, construction, and operation of the Plan shall be determined in accordance with the laws of the Commonwealth of Pennsylvania. 
 IN WITNESS WHEREOF, and as evidence of the adoption of the Plan as amended and restated herein, Unisys Corporation has caused this instrument to be
executed by its duly authorized representatives. 
  

			
	UNISYS CORPORATION:
		
	By:	 	  

		 	Patricia A. Bradford
	
	Dated: December     , 2008

  

 15Unisys Corp 2005 Deferred Compensation Plan as Amended

 Exhibit 10.27 
 UNISYS CORPORATION 
 2005 DEFERRED COMPENSATION PLAN 
 (As amended and restated effective January 1, 2005 
 except as otherwise noted below) 
 Article I 
 Purpose & Authority 
 1.1 Purpose. The purpose of the Plan is to offer Eligible Executives the opportunity to defer receipt of a portion of their compensation from the Corporation, to receive Corporation Contributions and, effective for the period
January 1, 2007 through December 31, 2008, to receive Savings Plan Credits, under terms advantageous to both the Eligible Executive and the Corporation and subject to rules that are intended to satisfy the requirements of Code section
409A. 
 1.2 Effective Date. The Burroughs’ Officers Deferred Compensation Plan was originally approved by the board of
directors of Burroughs Corporation on January 29, 1982. That plan, currently named the Unisys Corporation Deferred Compensation Plan (the “Prior Plan”), has been amended and restated from time to time since its original adoption.
Deferrals of compensation earned and vested before January 1, 2005 were made under that plan and amounts deferred under that plan will continue to be subject to the rules set forth in that plan document. This Plan was adopted February 10,
2005, effective January 1, 2005 (except as otherwise specified below), for deferrals made on and after the Effective Date. Deferrals of compensation earned and vested on or after the Effective Date will be subject to the rules set forth in this
Plan document as it may be amended from time to time. 
  

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 1.3 Authority. Any decision made or action taken by the Corporation and any of its officers
or employees involved in the administration of this Plan, or any member of the Board or the Committee arising out of or in connection with the construction, administration, interpretation and effect of the Plan shall be within the sole discretion of
all and each of them, as the case may be, and will be conclusive and binding on all parties. No member of the Board and no employee of the Corporation shall be liable for any act or action hereunder, whether of omission or commission, by any other
member or employee or by any agent to whom duties in connection with the administration of the Plan have been delegated or, except in circumstances involving the member’s or employee’s bad faith, for anything done or omitted to be done by
himself or herself. 
 Article II 
 Definitions 
 2.1 “Account” means, for any Participant, each memorandum account established for the
Participant under Section 6.1. 
 2.2 “Account Balance” means, for any Participant as of any date and with respect to
any Account, the aggregate amount reflected in that Account. 
 2.3 “Annual Incentive Pay” means, for any individual, the
amount payable, if any, to such individual under the Unisys Executive Variable Compensation Plan (or under any successor annual incentive plan of the Corporation) or under any other similar annual incentive plan of the Corporation approved by the
Senior Vice President, Human Resources. 
  

 2 

 2.4 “Beneficiary” means the person or persons designated from time to time in writing by
a Participant to receive payments under the Plan after the death of such Participant or, in the absence of such designation or in the event that such designated person or persons predeceases the Participant, the Participant’s estate.

 2.5 “Board” means the Board of Directors of the Corporation. 
 2.6 “Change in Control” means any of the following events: 
 (a) The acquisition by any individual, entity or group (within the meaning of Treasury Regulation section 1.409A-3(i)(5)) (a “Person”) of ownership of 30% or more of the combined voting power of the then
outstanding voting securities of the Corporation (the “Outstanding Voting Securities”) during a 12-month period, provided, however, that the acquisition by any corporation pursuant to a transaction described in clauses (1), (2) and
(3) of Section 2.6(c) will not constitute a Change in Control; or 
 (b) During a 12-month period, individuals who constitute the
Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; or 
 (c) Consummation of a
reorganization, merger or consolidation or sale or disposition of assets of the Corporation that have a total gross fair market value of more than 40% of the total gross fair market value of assets of the Corporation immediately before the
acquisition (a “Substantial Portion of Assets”) within a 12-month period (a “Business Combination”), unless, in each case following such Business Combination, (1) all or substantially all of the individuals and entities who
were the owners, respectively, of the then outstanding shares of Stock (the “Outstanding Stock”) and Outstanding Voting Securities immediately before the Business Combination own, directly or 

  

 3 

 
indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting
securities, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation that as a result of the transaction owns (A) the Corporation or (B) a Substantial Portion of Assets
of the Corporation acquired within a 12-month period either directly or indirectly through one or more Subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Stock
and Outstanding Voting Securities, as the case may be, (2) no Person (excluding any employee benefit plan (or related trust) of the Corporation or the corporation resulting from the Business Combination) owns, directly or indirectly, 30% or
more of, the combined voting power of the then outstanding voting securities of the corporation resulting from the Business Combination except to the extent that the Person owned 30% or more of the Outstanding Voting Securities before the Business
Combination, and (3) at least a majority of the members of the board of directors of the corporation resulting from the Business Combination were members of the Incumbent Board during the 12-month period immediately preceding the Business
Combination; or 
 (d) Approval by the stockholders of the Corporation of a complete liquidation or dissolution of the Corporation, but only
to the extent that one Person acquires a Substantial Portion of Assets of the Corporation within a 12-month period in connection with such transaction. 
 The rules of this Section 2.6 shall be interpreted and applied in accordance with the provisions of Treasury Regulation section 1.409A-3(i)(5). 
  

 4 

 2.7 “Code” means the Internal Revenue Code of 1986, as amended. 
 2.8 “Committee” means the Compensation Committee of the Board, such other committee as may be appointed by the Board to administer the
Plan or the person or persons to whom the Compensation Committee or such other committee may have delegated any of the Committee’s authority to administer the Plan. 
 2.9 “Corporation” or “Unisys” means Unisys Corporation. 
 2.10
“Corporation Contributions” means discretionary amounts that are credited by the Corporation to the Corporation Contributions Accounts of eligible Participants at any time based on individual or corporate performance or such other
criteria as is deemed appropriate by the Corporation. 
 2.11 “Corporation Contributions Account” means that portion of a
Participant’s Account to which any Corporation Contributions under the Plan for him or her are credited. 
 2.12 “Deferral
Election” means an election by an Eligible Executive to defer a portion of his or her compensation from the Corporation under the Plan, as described in Section 3.1. 
 2.13 “Effective Date” means, except as otherwise noted herein, January 1, 2005, the original effective date of the Plan.

 2.14 “Eligible Executive” means, for any calendar year, an employee of the Corporation (a) whose base salary from
the Corporation equals or exceeds 70 

  

 5 

 
percent (70%) of the maximum amount of compensation that is permitted to be taken into account under Code section 401(a)(17) and who is eligible to
receive Annual Incentive Pay or sales commissions, (b) whose base salary from the Corporation equals or exceeds the maximum amount of compensation that is permitted to be taken into account under Code section 401(a)(17), or (c) who
satisfies any other eligibility criteria established by the Committee. 
 2.15 “Fair Market Value” means, on any date, the
sales price of a share of Unisys Common Stock (a) on the New York Stock Exchange as of the official close of the New York Stock Exchange at 4:00 p.m. U.S. Eastern Standard Time or Eastern Daylight Time, as the case may be, on such date, or
(b) on such other stock exchange, designated by the Committee in its sole discretion, as of the official close of such exchange on such date. 
 2.16 “Investment Measurement Option” means any of the hypothetical investment alternatives available for determining the additional amounts to be credited to a Participant’s Account under Section 6.2. As of the
Effective Date, the Investment Measurement Options available are generally the investment options available to eligible participants under the USP. Performance Unit Compensation deferred under the Plan will be held as Stock Units. 
 2.17 “Participant” means an Eligible Executive or former Eligible Executive who has made a Deferral Election and/or received Savings
Plan Credits and/or Corporation Contributions and who has not received a distribution of his or her entire Account Balance. 
  

 6 

 2.18 “Performance Unit Compensation” means any amount payable to an Eligible Executive
as a result of the Eligible Executive’s vesting in a Performance Unit award (including, but not limited to, share unit and restricted share unit awards) made under the terms of the Unisys Corporation 2003 Long-Term Incentive and Equity
Compensation Plan or, effective as of April 26, 2007, the Unisys Corporation 2007 Long-Term Incentive and Equity Compensation Plan, or any successor equity-based incentive compensation plan. 
 2.19 “Plan” means the Unisys Corporation 2005 Deferred Compensation Plan, as set forth herein and as amended from time to time.

 2.20 “Revised Election” means an election made by a Participant, in accordance with Section 7.2, to change the date
as of which payment of his or her Account Balance is to commence and/or the form in which such payment is to be made. 
 2.21
“Savings Plan Credits” means, effective for the period January 1, 2007 through December 31, 2008, amounts automatically credited by the Corporation to the Savings Plan Credits Accounts of eligible Participants in accordance
with the provisions of Article IV of the Plan. 
 2.22 “Savings Plan Credits Account” means that portion of a
Participant’s Account to which any Savings Plan Credits under the Plan for him or her are credited. 
 2.23 “Separation from
Service” with respect to a Participant means the Participant’s death, retirement or other termination of employment with the 

  

 7 

 
Corporation as determined in accordance with Code section 409A and the regulations thereunder. A Participant shall be considered to have terminated
employment for this purpose when the Participant and the Corporation anticipate that the Participant will no longer perform services, as an employee or independent contractor, after a certain date or that the level of services the Participant would
perform after such date, as an employee or independent contractor, will permanently decrease to no more than 20 percent (20%) of the average level of the Participant’s services performed over the immediately preceding 36-month period.

 2.24 “Stock Units” means Unisys common stock-equivalent units. Each Stock Unit represents the equivalent of one share of
Unisys common stock; therefore, the value of a Stock Unit on any given date is the Fair Market Value of a share of Unisys Common Stock on that date. 
 2.25 “USP” means the Unisys Savings Plan, as amended from time to time. 
 2.26
“Valuation Date” means each business day on which the New York Stock Exchange (or such other stock exchange designated by the Committee in its sole discretion) is open, each of which is a date on which the interest of a Participant in
each of the Participant’s Accounts is valued. 
  

 8 

 Article III 
 Deferral of Compensation 
 3.1 Deferral Election. 
 (a) During any calendar year, each individual who is an Eligible Executive for such calendar year may, by properly completing and filing a Deferral
Election in the form and manner prescribed by the Committee, elect to defer: 
 (1) all or a portion of his or her salary that, absent
deferral under this Plan but giving effect to any deferral or salary deduction election under any other plan maintained by the Corporation (other than the USP), would be paid to him or her for services rendered during the next following calendar
year; and/or 
 (2) up to 75 percent (75%) of his or her sales commissions that, absent deferral under this Plan but giving effect to
any deferral or salary deduction election under any other plan maintained by the Corporation (other than the USP), would be paid to him or her for sales made during the next following calendar year; and 
 (3) all or a portion of his or her Annual Incentive Pay that, absent deferral under this Plan, but giving effect to any deferral or salary deduction
election under any other plan maintained by the Corporation (other than the USP), would be paid to him or her in the next following calendar year. 
 (b) To be effective, generally an Eligible Executive’s Deferral Election: 
 (1) with respect to salary or sales commissions
must be properly completed and filed by (A) the date specified by the Committee, which shall be no later than October 31 of the calendar year immediately preceding the calendar year in which the amounts to be deferred, absent deferral,
would be earned by the Eligible Executive, or (B) if no date is specified by the Committee, by October 31 of the calendar year immediately preceding the calendar year in which the amounts to be deferred, absent deferral, would be earned by
the Eligible Executive; provided, however, that, effective January 1, 2007, for Deferral Elections for years beginning on or after January 1, 2008, December 20 shall be substituted for October 31 in clauses (A) and
(B) of this Section 3.1(b)(1); and 
  

 9 

 (2) with respect to Annual Incentive Pay must be properly completed and filed by June 30 of the
calendar year for which the Annual Incentive Pay will be paid. 
 (c) Notwithstanding Section 3.1(b), an individual who becomes an
Eligible Executive after January 1 of a calendar year may make and file a Deferral Election on or before the date that is 30 days after the date on which he or she becomes an Eligible Executive with respect to salary and/or sales commissions
that, absent deferral, would be earned by him or her during the remainder of the calendar year after he or she filed the election, with such Deferral Election becoming effective as soon as administratively practicable after it is properly completed
and filed, and an Eligible Executive may also file a Deferral Election within such 30-day period with respect to salary and/or sales commissions that, absent deferral, would be earned in the subsequent calendar year regardless of whether such 30-day
period ends after October 31 of the 

  

 10 

 
preceding year or, for years beginning on or after January 1, 2008, December 20 of the preceding year. An Eligible Executive may make a
Deferral Election under this Section 3.1(c), (1) when he or she initially becomes an Eligible Executive, or (2) effective January 1, 2009, at any subsequent time if he or she becomes an Eligible Executive again after having
ceased to be an Eligible Executive at a previous time, and if he or she either had received his or her entire Account Balance attributable to his or her prior period of service as an employee before becoming an Eligible Executive again or had not
been an Eligible Executive at any time during the 24-month period ending on the date he or she became an Eligible Executive again. An Eligible Executive’s service as an employee prior to the Effective Date and his or her account under the Prior
Plan, if any, shall be taken into account in applying these rules. 
 (d) In addition to the Deferral Elections described in
Section 3.1(a), an Eligible Executive may make a Deferral Election with respect to Performance Unit Compensation that, absent deferral, would be paid to the Eligible Executive. To be effective, a Deferral Election with respect to Performance
Unit Compensation must be made in writing by the Eligible Executive on or before the date on which the award of Performance Unit Compensation that the Eligible Executive intends to defer is granted to the Eligible Executive. 
 (e) Once made, a Deferral Election shall become effective upon receipt by the Corporate Executive Compensation Department and, except to the extent
otherwise provided in Section 7.2., will become irrevocable as of the relevant date specified in Section 3.1(b) through or (d), as the case may be, above. An Eligible Executive’s Deferral Election must specify either a percentage or a
certain dollar amount 

  

 11 

 
of his or her salary, sales commissions, and/or Annual Incentive Pay, and/or a percentage of his or her Performance Unit Compensation, to be deferred under
the Plan. In addition, the Deferral Election must specify the portion of the year, if less than the full year, to which the Deferral Election is to apply. Notwithstanding the foregoing, if the amount that the Eligible Executive has elected to defer
from any payment of compensation otherwise payable to him or her is greater than the maximum amount that would enable the Corporation to withhold any applicable federal, state, local and foreign income or employment taxes (including, but not limited
to, taxes required to be withheld with respect to any Savings Plan Credits made on behalf of the Eligible Executive), any payroll deductions elected by the Eligible Executive before the beginning of the calendar year, or any amounts required to be
withheld pursuant to a domestic relations order (as defined in Code section 414(p)), the Corporation will reduce the amount of the deferral to the maximum amount that will enable the Corporation to effect such tax withholding and payroll deductions.

 (f) An Eligible Executive’s Deferral Election must also specify the date on which payment of the Eligible Executive’s Account
Balance is to commence and the form in which such payment is to be made. 
 (1) The Eligible Executive must specify the date as of which
payment of his or her Account Balance is to commence and may specify that such payment is to commence: 
 (A) as of his or her Separation
from Service; 
  

 12 

 (B) as of a specific date that is at least two years after the end of the calendar year containing the
date on which the amounts to be deferred, absent deferral, would be paid to the Eligible Executive; 
 (C) upon the Eligible
Executive’s becoming disabled (within the meaning of Code section 409A); 
 (D) upon a Change in Control of the Corporation; or

 (E) upon the earlier (or earliest) to occur of two (or more) dates described in (A) – (D) of this Section 3.1(f)(1).

 (2) The Eligible Executive must specify the form in which payment of his or her Account Balance is to be made and may specify that such
payment is to be made either in a single sum or in annual installments. If the Eligible Executive elects a specific date for payment to commence under Section 3.1(f)(1)(B), then for payment(s) commencing on such date, the Eligible Executive may
not elect an installment payment over a period shorter than two years or longer than five years. 
 (3) Notwithstanding the foregoing, a
Participant may not elect a form of payment to the extent that such an election would cause any payments to be made after the March 31 first following the date that is 20 years after the date of the Participant’s Separation from Service.

 (4) Notwithstanding the foregoing, if an Eligible Executive has elected that distribution be made pursuant to Section 3.1(f)(1)(A)
above, and the Eligible Employee is a “specified employee” within the meaning of Code section 409A and as 

  

 13 

 
designated by the Committee, distribution in the form of a single sum will be made on, and distribution in the form of installments will commence on, the
first day of the seventh month following the date of the Eligible Executive’s Separation from Service. 
 (g) Deferrals of an Eligible
Executive’s salary or sales commission shall be credited to the Plan ratably throughout the year (or, where applicable, the portion of the year) to which the Deferral Election applies. Deferrals of an Eligible Executive’s Annual Incentive
Pay and Performance Unit Compensation shall be credited in a single sum. Any deferral will be credited to the Plan as soon as administratively practicable after the date on which the amount, absent deferral, would be payable to the Participant.

 (h) Unless an Eligible Executive’s Deferral Election specifically provides otherwise, his or her Deferral Election with respect to
salary or sales commission shall expire as of the last day of the calendar year for which the Deferral Election was made, and his or her Deferral Election with respect to Annual Incentive Pay or Performance Unit Compensation shall expire as of the
date on which the Annual Incentive Pay or Performance Unit Compensation that is the subject of the Deferral Election is credited under the Plan. 
 (i) Notwithstanding the foregoing or any provision of the Prior Plan, if an Eligible Executive who has an account under the Prior Plan receives a payment from his or her account under the Prior Plan pursuant to Section 6.3 of the Prior
Plan (or any successor to such provision of the Prior Plan) during any year, the Eligible Executive may not make a Deferral Election under this Plan for the two years (or one year, for the period January 1, 2005 through December 31, 2008)
immediately following the year in 

  

 14 

 
which he or she requested the payment under the Prior Plan, and any Deferral Election that the Eligible Executive purports to make for those two years (or
that one year, for the period January 1, 2005 through December 31, 2008) shall not be given effect. 
 Article IV 

Savings Plan Credits 
 4.1
Savings Plan Credits. Savings Plan Credits will not be made on or after January 1, 2009. 
 4.2 Vesting.
Effective January 1, 2007: 
 (a) Participants will be fully vested in their Savings Plan Credits Accounts, if any. 
 (b) Notwithstanding any provision of the Plan to the contrary, any amounts credited to a Participant’s Savings Plan Credits Account will be
immediately forfeited in the event it is found by the Committee that a Participant, either during or following Separation from Service, willfully engaged in any activity which is determined by the Committee to be materially adverse or detrimental to
the interests of the Corporation, including, but not limited to, any activity which might reasonably be considered by the Committee to be of a nature warranting dismissal of an employee for cause. While the Committee’s decision is pending, the
Committee may suspend the payment of benefits to such Participant, and will furnish notice to the Participant of such review. The Committee will consider in its deliberation relative to this provision any explanation or justification submitted to it
in writing by the Participant within 60 days following the giving of such notice. The acceptance by a Participant of any benefit under 

  

 15 

 
this Plan shall constitute an agreement with the provisions of this Plan and a representation that he or she is not engaged or employed in any activity
serving as a basis for suspension or forfeiture of benefits hereunder. The Committee may require each Participant eligible for a benefit under this Plan to acknowledge in writing prior to payment of such benefit that he or she will accept payment of
benefits under this Plan only if there is no basis for such suspension or forfeiture. 
 4.3 Timing of Savings Plan Credits.
Savings Plan Credits to a Participant’s Savings Plan Credits Account under Section 4.1(a) will commence to be credited each payroll period following the first payroll period for the calendar year in which the Participant’s
compensation (as defined under the USP) exceeds the maximum amount of compensation that is permitted to be taken into account under Code section 401(a)(17). Savings Plan Credits to a Participant’s Savings Plan Credits Account pursuant to
Section 4.1(b) will be credited to the Plan ratably throughout the year (or, where applicable, the portion of the year) to which the corresponding Deferral Election applies. Any Savings Plan Credits will be credited to the Plan as soon as
administratively practicable after the applicable pay period to which such Savings Plan Credits are applicable. This Section 4.3 will not apply on or after January 1, 2009. 
 4.4 Distribution of Savings Plan Credits. Amounts credited to a Participant’s Savings Plan Credits Account will be distributed to the
Participant as a single sum distribution upon his or her Separation from Service; provided, however, that if the Participant is a “specified employee” (within the meaning of Code section 409A and as designated by the Committee) at such
time, distribution will be made in a single sum on the first day of the seventh month following the date of the Participant’s Separation from Service. 
  

 16 

 Article V 
 Corporation Contributions 
 5.1 Corporation Contributions. The Corporation may
make Corporation Contributions to a Participant’s Corporation Contributions Account from time to time. 
 5.2 Vesting.
Participants will vest in their Corporation Contributions Accounts according to the schedule established by the Corporation when the Corporation Contribution is made to that Corporation Contributions Account. Notwithstanding the foregoing, if a
Participant dies while employed by the Corporation, the Participant will be fully vested in all his Corporation Contributions Accounts, if any. 
 Article VI 
 Treatment of Deferred Amounts 
 6.1 Memorandum Account. 
 (a)
The Corporation shall establish on its books a separate Account for each Participant for each calendar year in which the Participant defers amounts pursuant to a Deferral Election. In addition, Corporation Contributions, if any, and, effective
January 1, 2007, Savings Plan Credits, if any, will be credited to a Participant’s Account and recorded in a separate Corporation Contributions Account and Savings Plan Credits Account, respectively, therein. Performance Unit Compensation
will be credited to the Participant’s Account as Stock Units. As of each Valuation Date, incremental amounts determined in accordance with Section 6.2 will be credited or debited to each 

  

 17 

 
Participant’s Account. Any payments made to or on behalf of the Participant and for his or her Beneficiary shall be debited from the Account. No assets
shall be segregated or earmarked with respect to any Account, and no Participant or Beneficiary shall have any right to assign, transfer, pledge or hypothecate his or her interest or any portion thereof in his or her Account. The Plan and the
crediting of Accounts hereunder shall not constitute a trust or a funded arrangement of any sort and shall be merely for the purpose of recording an unsecured contractual obligation of the Corporation. 
 (b) If the Corporation shall issue a stock dividend on the Unisys Common Stock, stock dividend equivalents shall be credited to the Participant’s
Stock Units Account, as of the dividend payment date, as Stock Units in the same amount as the stock dividends to which the Participant would have been entitled if the Stock Units were shares of Unisys Common Stock. Cash dividends, if any, shall be
credited to the Stock Units Account, as of the dividend payment date, in the form of Stock Units based on the Fair Market Value of the Unisys Common Stock on the dividend payment date. The Stock Units Account shall be appropriately adjusted to
reflect splits, reverse splits, or comparable changes to the Corporation’s Common Stock. 
 6.2 Investment Measurement
Options. 
 (a) Subject to the provisions of this Section 6.2, a Participant’s Account shall be credited or debited with
amounts equal to the amounts that would be earned or lost with respect to the Participant’s Account Balance (including, with respect to Stock Units, dividend equivalents and other adjustments) if amounts equal to that Account Balance were
actually invested in the Investment Measurement Options in the manner specified by the Participant. 
  

 18 

 (b) Each Eligible Executive may elect, at the same time as a Deferral Election is made, to have one or
more of the Investment Measurement Options applied to current deferrals. Such election with respect to current deferrals may be changed at any time upon appropriate notice to the Plan recordkeeper. Corporation Contributions and Savings Plan Credits
will be hypothetically invested in the same manner as amounts attributable to a Participant’s Deferral Elections for such calendar year, unless the Participant elects otherwise if permitted by the Committee. 
 (c) Subject to the restrictions described in Sections 6.2(d) and (e), a Participant may elect to change the manner in which Investment Measurement
Options apply to existing Account Balances. Such an election will be effective as soon as practicable after the Participant has provided appropriate notice to the Plan recordkeeper. 
 (d) Notwithstanding anything to the contrary in the Plan, deferrals of Performance Unit Compensation will be held as Stock Units and may not be treated
as invested under any other Investment Measurement Option. 
 (e) The following rules apply to Investment Measurement Options. 
 (1) The percentage of a Participant’s current deferrals and/or Account Balance to which a specified Investment Measurement Option is to be applied
must be in integral multiples of one percent (1%). The Participant may change the specified Investment Measurement Options which shall apply to his or her Account(s) on 

  

 19 

 
any business day as of which the Plan’s recordkeeper is open for business. Changes in a specified Investment Measurement Option with respect to a
Participant’s Account will be effective as soon as administratively practicable following receipt of the Participant’s election. 
 (2) To the extent that a Participant has not specified an Investment Measurement Option to apply to all or a portion of his or her current deferrals, Corporation Contributions, Account Balance and/or, effective January 1, 2007, Savings
Plan Credits, the Fidelity Balanced Fund (effective as of January 1, 2007) or such other fund as designated by the Committee from time to time shall be deemed to be the applicable Investment Measurement Option. 
 (3) The chosen Investment Measurement Option or Options shall apply to deferred amounts on and after the date on which such amounts are credited to the
Participant’s Account. 
 (f) The Committee shall have the authority to modify the rules and restrictions relating to Investment
Measurement Options (including the authority to change such Investment Measurement Options prospectively) as it, in its sole discretion, deems necessary. 
 Article VII 
 Payment of Deferred Amounts 
 7.1 Form and Time of Payment. The benefits to which a Participant or a Beneficiary may be entitled under the Plan shall be paid in
accordance with this Section 7.1. 
  

 20 

 (a) All payments under the Plan shall be made in cash in U.S. dollars, provided, however, that unless
otherwise provided by the Committee, Stock Units shall be paid in shares of Unisys Common Stock. 
 (b) Except as otherwise provided in
Section 4.4 with respect to Savings Plan Credits or in Section 7.1(e), 7.2 or 7.3, (1) for payment of a Participant’s Account Balance upon Separation from Service, the Account Balance shall be valued as of the last Valuation Date
in the month in which the Participant’s Separation from Service occurs and payment shall commence on the first day of the next month (notwithstanding the foregoing, if the Participant is a “specified employee” within the meaning of
Code section 409A and as designated by the Committee, distribution in a single sum will be made on, or distribution in installments will commence on, the first day of the seventh month following the date of the Participant’s Separation from
Service), (2) for payment upon any other date or dates specified in the Participant’s Deferral Election or Elections or the Participant’s Revised Election or Elections (to the extent that the Revised Election or Elections has or have
become effective) the Account Balance shall be valued as of the last Valuation Date in the month in which such date occurs and payment shall commence on the first day of the next month, and (3) all payments shall be made in the form or forms
specified in the Participant’s Deferral Election or Elections or the Participant’s Revised Election or Elections (to the extent that the Revised Election or Elections has or have become effective), provided, however, that payment of a
Participant’s Savings Plan Credits Account will be made in the form of a single sum upon the Participant’s Separation from Service with the Corporation, or later, as provided in Section 4.4. 
  

 21 

 (c) To the extent a Participant has not specified the form or time of payment of his or her Account
Balance, payment of the portion of the Participant’s Account attributable to Deferral Elections and the Participant’s Corporation Contributions Account will be made in a single sum upon the Participant’s Separation from Service.
Notwithstanding the foregoing, if the Participant is a “specified employee” within the meaning of Code section 409A and as designated by the Committee, distribution will be made in a single sum on the first day of the seventh month
following the date of the Participant’s Separation from Service. 
 (d) To the extent a Participant has elected payment in the form of
annual installments, each installment payment after the initial installment payment shall be made on or about March 31 of each year following the year in which the first installment was paid. With respect to each Deferral Election made by a
Participant, the amount of each annual installment payment to be made to a Participant or Beneficiary under such Deferral Election shall be determined by dividing the portion of the Participant’s Account Balance attributable to such Deferral
Election as of the latest Valuation Date preceding the date of payment by the number of installments remaining to be paid under such Deferral Election, and the number of shares of Unisys Common Stock delivered to a Participant who is receiving
installments from his or her Stock Units Account shall be the quotient of (x) divided by (y) where (x) equals the amount to be distributed in an installment and (y) equals the Fair Market Value on the Valuation Date, with the
amount attributable to any fractional share payable in cash in U.S. dollars. 
 (e) Notwithstanding any Deferral Election made by the
Participant or any provision of the Plan to the contrary: 
 (1) If the Participant’s Separation from Service occurs before the specific
date as of which all or a portion of the Participant’s Account Balance is scheduled to be paid, the payment of that portion of the Participant’s Account Balance will commence upon the Participant’s Separation from Service and will be
made in the form elected by the Participant with respect to a distribution upon Separation from Service. Notwithstanding the foregoing, if the Participant is a “specified employee” within the meaning of Code section 409A and as designated
by the Committee, distribution in a single sum will be made on, or distribution in installments will commence on, the first day of the seventh month following the date of the Participant’s Separation from Service. 
  

 22 

 (2) If a Participant’s Separation from Service occurs after the Participant begins to receive any
portion of an Account Balance that was to be paid to the Participant as of a specific date, the remaining portion of such Account Balance shall continue to be distributed in accordance with the form of payment being made to the Participant at the
time of his or her Separation from Service. 
 (3) If, at the time of a Participant’s Separation from Service, the balance in all of a
Participant’s Accounts is $10,000 or less, the balance in all the Participant’s Accounts shall be paid to the Participant in a single sum upon the Participant’s Separation from Service, provided, however, that if the Participant is a
“specified employee” within the meaning of Code section 409A and as designated by the Committee, the balance in all the Participant’s Accounts shall be paid to the Participant in a single sum on the first day of the seventh month
following the date of the Participant’s Separation from Service. 
  

 23 

 (4) Any portion of a Participant’s Account Balance that has not been paid to the Participant as of
the date of his or her death shall be paid to the Participant’s Beneficiary in a single sum on the first day of the month following the month in which the Participant’s death occurs. 
 (5) If a Participant demonstrates to the satisfaction of the Committee that he or she has incurred an “unforeseeable emergency” within the
meaning of Code section 409A, the Participant may receive a distribution of the amount necessary to meet his or her unforeseeable emergency as determined by the Committee in accordance with Code section 409A and regulations thereunder. 

7.2 Revised Election. 
 (a)
Pursuant to a Revised Election, a Participant may specify: 
 (1) a date for the commencement of the payment of the Participant’s
Account Balance attributable to Deferral Elections that, if the Participant originally elected a specified date for payment (as opposed to payment upon Separation from Service), is a date at least five years after the date specified in the
Participant’s applicable Deferral Election; and/or 
 (2) a form of payment that calls for a greater number of annual installment
payments than that specified in the Participant’s applicable Deferral Election, or a number of annual installment payments where the Participant specified a single sum payment in his or her applicable Deferral Election, provided that the first
installment begins no earlier than five years after the date on which the Participant originally elected that distribution commence. 
  

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 (3) Notwithstanding the foregoing, a Participant may not elect a time of benefit commencement and/or a
form of payment to the extent that such an election would cause any payments to be made after the March 31 first following the date that is 20 years after the date of the Participant’s Separation from Service. 
 (b) A Participant may make no more than three Revised Elections with respect to the portion of the Participant’s Accounts attributable to Deferral
Elections. 
 (c) To be effective, a Revised Election must: 
 (1) meet the requirements of Sections 7.2(a) and 7.2(b) above; 
 (2) be made in writing by the Participant
on a form furnished for such purpose by the Corporate Executive Compensation Department; and 
 (3) be submitted to the Corporate Executive
Compensation Department on or before the date that is one year before the date on which the portion of the Participant’s Account Balance attributable to the Deferral Election that is the subject of the Revised Election would, absent the Revised
Election, first become payable. 
 7.3 SEC Rule 16b. If deemed necessary to comply with Rule 16b-3 under the Securities and
Exchange Act of 1934, as amended, the Corporation may delay payment with respect to Stock Units until six months following the date on which the Stock Units were credited to the Participant’s Account. 
  

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 Article VIII 
 Miscellaneous 
 8.1 Amendment. The Board may modify or amend, in whole or in
part, any of or all the provisions of the Plan, or suspend or terminate it entirely; provided, however, that any such modification, amendment, suspension or termination may not, without the Participant’s consent, adversely affect any amount
credited to him or her under the Plan for any period prior to the effective date of such modification, amendment, suspension or termination, except that no Participant consent is necessary if such modification, amendment, suspension or termination
is necessary to comply with the requirements of Code section 409A. The Plan shall remain in effect until terminated pursuant to this provision. 
 8.2 Administration. The Committee shall have the sole authority to interpret the Plan and in its sole discretion to establish and modify administrative rules for the Plan, including, but not limited to, establishing rules
regarding elections, hypothetical investments and distributions. The Committee may delegate to any person or persons the authority and responsibility for all or any aspect of administration of the Plan in its sole discretion. Notwithstanding any
provision of the Plan to the contrary, the Committee (or its delegate) shall administer the Plan in a manner that is consistent with the requirements of Code section 409A. All expenses and costs in connection with the operation of this Plan shall be
borne by the Corporation. The Corporation shall have the right to deduct from any payment to be made pursuant to this Plan any federal, state, local or foreign taxes required by law to be withheld, and any associated interest and/or penalties.

  

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 8.3 Governing Law. The Plan shall be construed and its provisions enforced and administered
in accordance with the laws of the Commonwealth of Pennsylvania except as such laws may be superseded by the federal law and without regard to Pennsylvania’s conflict of laws rules. 
 8.4 Unfunded Plan. It is intended that the Plan constitute an “unfunded” plan for deferred compensation. The Corporation may
authorize the creation of trusts or other arrangements to meet the obligations created under the Plan; provided, however, that, unless the Corporation otherwise determines, the existence of such trusts or other arrangements is consistent with the
“unfunded” status of the Plan. Any liability of the Corporation to any person with respect to any Account under the Plan shall be based solely upon any contractual obligations that may be created pursuant to the Plan. No such obligation of
the Corporation shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Corporation. 
 8.5
Payment of FICA and Other Taxes. Generally, any Federal Insurance Contributions Act (“FICA”) or other taxes that are payable by the Participant and are required to be withheld by the Corporation during any period with respect to
amounts deferred under the Plan pursuant to Section 3.1 or, effective January 1, 2007, amounts credited by the Corporation pursuant to Sections 4.1 or 5.1 during such period shall be withheld from the compensation otherwise currently
payable to the Participant during the period. 
  

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