Document:

Form of June 2011 Time-Based Restricted Stock Unit Award Agreements

 Exhibit 10.3 

 

					
		  		  	Name: Template
		  		  	Number of Stock Units: Template
		  		  	Date of Grant:

 SUNGARD CAPITAL CORP. AND
SUNGARD CAPITAL CORP. II 
 MANAGEMENT
TIME-BASED RESTRICTED STOCK UNIT AGREEMENT 
 THIS AWARD AND ANY SECURITIES ISSUED UPON THE PAYMENT OF THIS 
 RESTRICTED
STOCK UNIT AWARD ARE SUBJECT TO RESTRICTIONS ON VOTING 
 AND TRANSFER AND REQUIREMENTS OF SALE AND OTHER PROVISIONS AS SET

 FORTH IN THE STOCKHOLDERS AGREEMENT AMONG SUNGARD CAPITAL CORP., 

SUNGARD CAPITAL CORP. II, SUNGARD HOLDING CORP., SOLAR CAPITAL CORP. 

AND CERTAIN STOCKHOLDERS OF SUNGARD CAPITAL CORP. AND SUNGARD 

CAPITAL CORP. II, DATED AS OF AUGUST 10, 2005 (AS IN EFFECT FROM TIME TO 

TIME, THE “STOCKHOLDERS AGREEMENT”). 
 SUNGARD CAPITAL CORP. AND SUNGARD CAPITAL CORP. II STRONGLY 
 ENCOURAGE
YOU TO SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL 
 ADVISORS WITH RESPECT TO YOUR AWARD AND ITS TAX CONSEQUENCES.

 This agreement (the “Agreement”) evidences Restricted Stock Units granted by SunGard Capital Corp., a
Delaware corporation (the “Company”), and SunGard Capital Corp. II, a Delaware corporation (“Lowerco” and together with the Company, the “Companies”), to the undersigned (the
“Grantee”), pursuant to, and subject to the terms of, the SunGard 2005 Management Incentive Plan (as amended from time to time, the “Plan”) which is incorporated herein by reference and of which the Grantee hereby
acknowledges receipt. 
 1. Grant of Restricted Stock Units. The Company and Lowerco (as applicable) grant to the
Grantee, as of the above Date of Grant, Restricted Stock Units for the number of Stock Units stated above (the “Stock Units”), on the terms provided herein and in the Plan. The Stock Units represent a conditional right to receive
Units (as defined below) consisting of Class A Common shares, Class L Common shares and Lowerco Preferred shares (the “Shares”). The Stock Units evidenced by this Agreement are granted to the Grantee in an Employment capacity
as an Employee. 
 2. Stock Unit Account. The Company shall establish and maintain a Stock Unit account (the
“Account”) as a bookkeeping account on its records for the Grantee and shall record in the Account the number of Stock Units awarded to the Grantee. No Shares shall be issued to the Grantee at the time the Award is made, and the
Grantee shall not be, nor have any of the rights or privileges of, a shareholder of the Companies with respect to any Stock Units recorded in the Account or amounts credited to the Account pursuant to Section 8. The Grantee shall not have any
interest in any fund or specific assets of the Companies by reason of this Award or the Account established for the Grantee. 

3. Meaning of Certain Terms. Except as otherwise defined herein, all capitalized terms used in this Agreement shall have the same
meaning as in the Plan. The terms “Change of  

 
Control,” “Disability” and “Fair Market Value” shall have the same meaning as set forth in the Stockholders Agreement and without regard to any subsequent
amendment thereof. The following terms shall have the following meanings: 
  

	 	(a)	“Adjustment Event” means (i) a cash distribution with respect to Shares paid to all or substantially all holders of Shares, other than cash
dividends in respect of Shares declared by the Board as part of a regular dividend payment practice or stated cash dividend policy of the Company following an IPO, or (ii) a substantially pro rata redemption or substantially pro rata repurchase
(in each case, as applicable, by the Company, Lowerco or any of their subsidiaries) of all or part of any class of Shares; 

  

	 	(b)	“CEO” means the Chief Executive Officer of the Company. 

  

	 	(c)	“Date of Termination” means the date that the termination of the Grantee’s Employment with Employer is effective on account of the Grantee’s
death, the Grantee’s Disability, termination by Employer for Cause or without Cause, or by the Grantee, as the case may be; 

  

	 	(d)	“Employer” means the Company or, as the case may be, its Affiliate with whom the Grantee has entered into an Employment relationship;

  

	 	(e)	“Restrictive Covenant” means any of the restrictive covenants set forth in Exhibit A, which is incorporated herein by reference;

  

	 	(f)	“Tax” or “Taxes” means any income tax, social insurance, payroll tax, contributions, payment on account obligations or other payments;

  

	 	(g)	“Unit” means an undivided interest in 1.3 Class A shares, 0.1444 Class L shares and 0.05 Lowerco Preferred shares, determined at the Date of
Grant, as it may be adjusted as provided herein; and 

 As used herein with respect to the Stock Units, the term
“vest” means that the restrictions on the right to receive payment pursuant to the Stock Units lapse in whole or in specified part. 
 4. Vesting of Stock Units. The Stock Units shall be subject to forfeiture until the Stock Units vest. The Stock Units shall vest, in accordance with Schedule A, based on the Grantee’s
continued Employment; provided, however, that: 
  

	 	(a)	upon the Grantee’s Employment being terminated involuntarily by Employer within six months following a Change of Control other than for Cause, the Stock Units
shall become fully vested; 

  

	 	(b)	if the Grantee’s Employment terminates without or prior to a Change of Control as a result of (i) termination of the Grantee by Employer without Cause,
(ii) resignation by the Grantee or (iii) the Grantee’s Disability or death, then the Stock Units shall immediately stop vesting, and any unvested Stock Units shall be forfeited as of the Date of Termination; and

  
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	 	(c)	if the Grantee’s Employment terminates as a result of termination by Employer for Cause, then the Stock Units will be immediately forfeited by the Grantee and
terminate as of the Date of Termination. 

 5. Payment of Stock Units. The Grantee’s vested Stock
Units shall be paid in Shares upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code, (ii) the Grantee’s separation from service for
any reason other than for Cause, or (iii) the date that is four years after the Date of Grant. If a Change of Control occurs before the Stock Units are fully vested, any Stock Units that subsequently vest shall be paid upon the first to occur
of (i) the Grantee’s separation from service for any reason other than for Cause or (ii) the date that is four years after the Date of Grant. Notwithstanding the foregoing, all distributions of Shares under this Agreement upon
separation from service shall only be made upon the Grantee’s “separation from service” within the meaning of Section 409A of the Code and a distribution shall be made at a time and in a manner consistent with Section 409A.
Subject to Sections 15, 16 and 20, when the vested Stock Units become payable, the Companies will issue to the Grantee Shares representing the Units underlying the vested Stock Units, subject to satisfaction of the Grantee’s Tax withholding
obligations as described below, within 30 days after the payment event. 
 6. Certain Calls and Puts. The Stock Units
granted hereunder and the related Shares are subject to the call and put rights contained in Section 6 of the Stockholders Agreement, except that such put rights shall be granted only if and to the extent permitted by the Code (including
Section 409A thereof); provided, however, that the call rights contained in Section 6 of the Stockholders Agreement shall not apply in the event of a termination resulting from Disability or death. 

7. Share Restrictions, etc. Except as expressly provided herein, the Grantee’s rights hereunder and with respect to Shares
received upon payment in accordance with Section 5 herein are subject to the restrictions and other provisions contained in the Stockholders Agreement. 
 8. Distributions, Redemptions, etc. 
  

	 	(a)	Upon the occurrence of an Adjustment Event, there shall be credited to the Account an amount equal to the product of (i) the per-Share amount paid with respect to
Shares underlying the Stock Units in connection with the Adjustment Event, multiplied by (ii) the number of Shares of the class of stock affected by the Adjustment Event that are included in each Unit immediately prior to the Adjustment Event,
multiplied by (iii) the number of Units underlying the Grantee’s Stock Units pursuant to this Award. 

  

	 	(b)	If any other cash dividend or distribution is paid with respect to Shares underlying the Stock Units, there shall be credited to the Account an amount equal to the
product of (i) the per-Share amount paid with respect to Shares underlying the Stock Units, multiplied by (ii) the number of Shares of the applicable class of stock that are included in each Unit, multiplied by (iii) the number of
Units underlying the Grantee’s Stock Units pursuant to this Award. 

  
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	 	(c)	The amount credited to the Account pursuant to this Section 8 with respect to Stock Units is referred to as the “Bonus Value.” The Bonus Value shall vest
on the same terms as the Stock Units to which it relates, as set forth in this Agreement, and the vested Bonus Value shall be paid to the Grantee, in cash, Shares or such other securities or assets as the Compensation Committee or Board shall
determine, at the same time as the vested Stock Units are paid pursuant to Section 5 herein, consistent with Section 409A of the Code. 

  

	 	(d)	In the case of a redemption or repurchase of Shares, the number of Shares of the class of stock redeemed or repurchased that are subject to outstanding Stock Units will
be automatically reduced by an amount proportionate to the percentage reduction in outstanding Shares of the affected class resulting from the redemption or repurchase. The Grantee shall be entitled to receive any information reasonably requested
regarding the composition of a Unit, as adjusted in accordance with this Section 8. 

 9. Forfeiture.
Upon delivery of Shares pursuant to the Stock Units, the Grantee shall certify on a form acceptable to the Committee that the Grantee is, and at all times during and after Employment has been, in compliance with the Restrictive Covenants and all
other agreements between the Grantee and the Company or any of its Affiliates. If the Company determines that the Grantee is not, or at any time during or after Employment has not been, in compliance with one or more of the Restrictive Covenants or
with the provisions of any agreement between the Grantee and the Company or any of its Affiliates, and such non-compliance has not been authorized in advance in a specific written waiver from the Company or the applicable party, the Committee may
cancel any unpaid Stock Units. The Company shall also have the following (and only the following) additional remedies: 
  

	 	(a)	During the six months after any delivery of Shares pursuant to the Stock Units, such delivery may be rescinded at the Company’s option if the Grantee fails, or at
any time during or after Employment has failed, to comply in any material respect with the terms of the Restrictive Covenants or of any other agreement with the Company or any of its Affiliates or if the Grantee breaches, or at any time during or
after Employment has breached, any duty to the Company or any of its Affiliates. The Company shall notify the Grantee in writing of any such rescission within one year after such delivery. Within ten days after receiving such a notice from the
Company, the Grantee shall remit or deliver to the Company (i) the amount of any gain realized upon the sale of any Shares, (ii) any consideration received upon the exchange of any Shares (or to the extent that such consideration was not
received in the form of cash, the cash equivalent thereof valued at the time of the exchange), and (iii) the number of Shares received in connection with the rescinded delivery. 

 

	 	(b)	 The Company shall have the right to offset, against any Shares and any cash amounts due to the Grantee under or by reason of the Grantee’s holding
the Stock Units, any amounts to which the Company is entitled as a result of the Grantee’s violation of the terms of the Restrictive Covenants or of any other agreement with the Company or any of its Affiliates or the Grantee’s breach of
any duty to the Company or any of its Affiliates; provided, however, that no offset shall 

  
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accelerate or defer the distribution date of amounts payable under this Agreement in violation of Section 409A of the Code, and any offset in violation of Section 409A shall be null and
void. Accordingly, the Grantee acknowledges that (i) the Company may withhold delivery of Shares, (ii) the Company may place the proceeds of any sale or other disposition of Shares in an escrow account of the Company’s choosing
pending resolution of any dispute with the Company, and (iii) the Company has no liability for any attendant market risk caused by any such withholding, or escrow, subject, however, to compliance with the requirements of Section 409A of
the Code. 

 The Grantee acknowledges and agrees that the calculation of damages from a breach of any of the Restrictive Covenants
or of any other agreement with the Company or any of its Affiliates or of any duty to the Company or any of its Affiliates would be difficult to calculate accurately and that the right to offset or other remedy provided for herein is reasonable and
not a penalty. The Grantee further agrees not to challenge the reasonableness of such provisions even where the Company rescinds, delays, withholds or escrows Shares or proceeds or uses those Shares or proceeds as a setoff. 

10. Legends, etc. Shares issued upon the lapse of any restrictions on the Stock Units shall bear such legends as may be required
or provided for under the terms of the Stockholders Agreement. 
 11. Transfer of Stock Units. The Stock Units may only
be transferred by the laws of descent and distribution, or to a legal representative in the event of the Grantee’s incapacity and in accordance with the terms of the Stockholders Agreement. 

12. Withholding. The payment of the Shares and other amounts in accordance with this Agreement will give rise to compensation
income which may be subject to withholding. The Grantee expressly acknowledges and agrees that the Grantee’s rights hereunder, including the right to be issued Shares in accordance with Section 5 herein and paid cash in accordance with
Section 8 hereof, are subject to the Grantee promptly paying to the Companies all Taxes required to be withheld, at the Grantee’s election, in cash or by Share withholding as described below (or by such other means as may be acceptable to
the Administrator in its discretion). The Grantee also authorizes the Companies and their Affiliates to withhold such amount from any amounts otherwise owed to the Grantee. Unless the Grantee elects otherwise by providing written notice to the
Company not later than 30 days after the payment event, any tax withholding obligation with respect to the payment of Shares shall be satisfied by having Shares withheld up to an amount that does not exceed the minimum applicable withholding Tax.
Accordingly, unless the Grantee timely elects to pay the withholding Taxes in cash, the Grantee shall be deemed to have elected to pay such Taxes through Share withholding as described above. In addition, the Companies may require the Grantee to pay
any taxes or other amounts required to be paid by the Companies or any Affiliate with respect to the grant or vesting of the Stock Units or the payment of the Shares. Any such taxes or amounts must be paid at such time and in such form as determined
by the Companies. 
 13. Grant Subject to Plan Provisions. This Award is made pursuant to the Plan, the terms of which
are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The Award and payment of the Stock Units are subject to 

  
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interpretations, regulations and determinations concerning the Plan established from time to time by the Administrator in accordance with the provisions of the Plan, including, but not limited
to, provisions pertaining to (i) the registration, qualification or listing of the shares issued under the Plan, (ii) changes in capitalization and (iii) other requirements of applicable law. The Administrator shall have the authority
to interpret and construe the Stock Units pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder. 
 14. Effect on Employment. Neither the grant of the Stock Units, nor the issuance of Shares or other payments in accordance with this Agreement, shall give the Grantee any right to be retained in
the employ of the Company, Lowerco or any of their Affiliates, affect the right of the Company, Lowerco or any of their Affiliates to discharge or discipline the Grantee at any time, or affect any right of the Grantee to terminate his or her
Employment at any time, subject to applicable local law and the terms of any employment agreement. 
 15. Delay in Payments
for Specified Employees. Notwithstanding anything in this Agreement to the contrary, if the Grantee is a “specified employee” of a publicly traded corporation under Section 409A of the Code at the time of separation from service
and if payment of any amount under this Agreement is required to be delayed for a period of six months after the separation from service pursuant to Section 409A of the Code, payment of such amount shall be delayed as required by
Section 409A of the Code, and the accumulated postponed amount shall be paid in a lump sum payment within 10 days after the end of the six-month period. If the Grantee dies during the postponement period prior to the payment of postponed
amount, the accumulated postponed amount shall be paid to the personal representative of the Grantee’s estate within 60 days after the date of the Grantee’s death. 
 16. Section 409A. It is intended that the Stock Units awarded hereunder shall comply with the requirements of Section 409A of the Code (and any regulations and guidelines issued
thereunder), and this Agreement shall be interpreted on a basis consistent with such intent. Payments shall only be made on an event and in a manner permitted by Section 409A of the Code. Each payment under this Agreement is considered a
separate payment for purposes of Section 409A of the Code. As provided under Section 409A, if calculation of the amount of a payment is not administratively practicable due to events beyond the control of the Grantee, the payment will be
treated as made upon the date specified hereunder if the payment is made during the first calendar year in which calculation of the amount of the payment is administratively practicable. This Agreement may be amended without the consent of the
Grantee in any respect deemed by the Committee to be necessary in order to preserve compliance with Section 409A of the Code. 
 17. Nature of Grant; No Entitlement; No Claim for Compensation. Grantee, in accepting the Stock Units, represents and acknowledges that Grantee’s participation in the Plan is voluntary; that
participation in the Plan is discretionary and does not form any part of Grantee’s contract of employment, if any, with the Company or any of its subsidiaries; and that Grantee has not been induced to participate in the Plan by any expectation
of employment or continued employment with the Company or any of its subsidiaries. Grantee furthermore understands and acknowledges that the grant of the Stock Units is discretionary and a one-time occurrence, does not constitute any portion of
Grantee’s regular remuneration and is not intended to be taken into account in calculating service-related benefits, and bears no guarantee or implication that any additional grant will be made in the future. In consideration of the grant of

  
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the Stock Units, no claim or entitlement to compensation or damages shall arise from forfeiture of the Stock Units or diminution in value of the Stock Units or any of the Shares issuable under
the Stock Units from termination of Grantee’s employment by the Company or his or her employer, as applicable (and for any reason whatsoever and whether or not in breach of contract or local labor laws), and Grantee irrevocably release his or
her employer, the Company and its subsidiaries, as applicable, from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement,
Grantee shall be deemed to have irrevocably waived Grantee’s entitlement to pursue such claim. 
 18. Personal Data.
Grantee understands and acknowledges that in order to perform its obligations under the Plan, the Company and its subsidiaries may process personal data and/or sensitive personal data relating to Grantee. Such data includes but is not limited to the
information provided in this Agreement and any changes thereto, other personal and financial data relating to Grantee (including, without limitation, Grantee’s address and telephone number, date of birth, social insurance number or other
identification number, salary, nationality, job title), and information about Grantee’s participation in the Plan and the Shares acquired from time to time pursuant to the Plan. Grantee, in accepting the Stock Units, gives his or her explicit
and voluntary consent to the Company and its subsidiaries to collect, use and process any such personal data and/or sensitive personal data (in electronic or other form). Grantee also hereby gives his or her explicit and voluntary consent to the
Company and its subsidiaries to transfer any such personal data and/or sensitive personal data (in electronic or other form) outside the country in which Grantee works or is employed. The legal persons for whom Grantee’s personal data are
intended include the Company and any of its subsidiaries, any outside plan administrator or service provider selected by the Company or any of its subsidiaries from time to time, and any other person that the Administrator may find in its
administration of the Plan to be appropriate; such recipients may be located in countries that have different data privacy laws and protections than Grantee’s country. Grantee hereby acknowledges that he or she has been informed of his or her
right of access and correction to his or her personal data by contacting his or her local human resources representative. Grantee understands that the transfer of the information described herein is important to the administration of the Plan and
that failure to consent to the transmission of such information may limit or prohibit his or her participation in the Plan. 

19. Governing Law. This Agreement and all claims arising out of or based upon this Agreement or relating to the subject matter
hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic
substantive laws of any other jurisdiction. 
 20. Compliance with Laws, Regulations and Policies. The issuance of Shares
pursuant to the vested Stock Units shall be subject to compliance by the Companies and the Grantee with all applicable requirements of law relating thereto (including, without limitation, foreign securities and exchange control requirements). The
inability of the Companies to lawfully issue Shares or the inability of the Companies and/or the Grantee to obtain approval from any regulatory body having authority deemed by the Companies to be necessary to the lawful issuance of any Shares hereby
shall relieve the Companies of any liability with respect to the non-issuance of the Shares. The Stock Units, and all Shares and other amounts payable 

  
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pursuant to the Stock Units, are subject to the terms of any applicable clawback and other policies adopted by the Board. 
 21. Amendment. In addition to the authority to make adjustments pursuant to Section 7(b) of the Plan, the Administrator may modify the terms of the Award as the Administrator deems
appropriate, in good faith, to take account of a change in circumstances occasioned by a stock dividend or other similar distribution (whether in the form of stock, other securities or other property), stock split or combination of shares (including
a reverse stock split), recapitalization, conversion, reorganization, consolidation, split-up, spin-off, combination, merger, exchange of stock, redemption or repurchase of all or part of the shares of any class of stock or any change in the capital
structure of the Company or an Affiliate or other transaction or event, including the power to adjust the performance goals that are affected by such a transaction. 
 22. Additional Terms and Conditions for Residents of Certain Countries. The following are additional terms and conditions that govern an Award granted to a Grantee resident in one of the countries
listed below: 
  

	 	(a)	For Residents of Chile: Neither the Company nor Lowerco or any of the Shares are (i) listed in the Chilean Registry of Securities or (ii) under the
supervision and control of the Superintendencia Valores Y Seguros de Chile. 

  

	 	(b)	For Residents of Hong Kong: The Stock Units and the Shares to be issued upon vesting of the Stock Units do not constitute a public offer of securities and are
available only for employees of the Company or a subsidiary. 

 WARNING: The contents of the Agreement and the
Plan have not been reviewed by any regulatory authority in Hong Kong. Grantee is advised to exercise caution in relation to the Stock Units. If Grantee is in any doubt as to the contents of the Agreement or the Plan, Grantee should obtain
independent professional advice. 
  

	 	(c)	For Residents of Singapore: The Stock Units have been granted pursuant to the “Qualifying Person” exemption” under section 273(1)(f) of the
Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”). The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore. Grantee should note that the Stock Units are subject to section 257 of the SFA
and Grantee will not be able to make (i) any subsequent sale of the shares of Stock in Singapore or (ii) any offer of such subsequent sale of the shares of Stock subject to the Stock Units in Singapore, unless such sale or offer is made
pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA (Chapter 289, 2006 Ed.). 

 [SIGNATURE PAGE FOLLOWS] 

  
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 By acceptance of the Stock Units, the undersigned agrees hereby to become a party to, and be
bound by the terms of, the Stockholders Agreement as a “Manager” as defined therein. 
 Executed as of the Date of
Grant. 
  

									
	SunGard Capital Corp. and	 		 	SUNGARD CAPITAL CORP.
	SunGard Capital Corp. II	 		 	SUNGARD CAPITAL CORP. II
					
		 		 		 	By: 	 	 
		 		 		 		 	

 Grantee 

I ACKNOWLEDGE THAT I HAVE RECEIVED A COPY OF
THIS AGREEMENT AND CERTAIN RELATED INFORMATION, AND THAT I HAVE READ AND
UNDERSTOOD THESE DOCUMENTS. I ACCEPT AND AGREE TO ALL OF THE PROVISIONS
OF THIS AGREEMENT. 
  

			
		  	  

		  	Template

 Grantee 

I ALSO ACKNOWLEDGE, WITH RESPECT TO ALL PRIOR
GRANTS OF RESTRICTED STOCK UNITS OR GRANTS OF OPTIONS BY THE
COMPANIES TO ME, THAT I HAVE RECEIVED A COPY OF EACH RESTRICTED STOCK
UNIT AGREEMENT AND/OR STOCK OPTION AGREEMENT AND CERTAIN RELATED INFORMATION,
AND THAT I HAVE READ AND UNDERSTOOD THESE DOCUMENTS. I ACCEPT AND AGREE
TO ALL OF THE PROVISIONS OF THE RESTRICTED STOCK UNIT AGREEMENTS
AND/OR STOCK OPTION AGREEMENTS PREVIOUSLY GRANTED TO ME BY THE
COMPANIES, WHICH ARE LISTED ON THE EQUITY STATEMENT THAT I RECEIVED ALONG
WITH THIS AGREEMENT. 
  

			
		  	  

		  	Template

  
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 Schedule A 
 Vesting Schedule 
 28% of the Stock Units shall vest on the first anniversary of the Date
of Grant (“Initial Vesting Date”); and 
 The remaining 72% of the Stock Units shall vest in equal monthly installments of 2%
over the 36 months following the Initial Vesting Date starting with the first monthly anniversary of the Initial Vesting Date. 

 Exhibit 10.3 
 Exhibit A 
 Restrictive Covenants 

1. The Grantee will not render services for any organization or engage directly or indirectly in any business which, in the judgment and
sole determination of the CEO or another senior officer designated by the Committee, is or becomes competitive with the Company and/or its Affiliates (together, for purposes of this Exhibit A, “Company”), or which organization or business,
or the rendering of services to such organization or business, is or becomes otherwise prejudicial to or in conflict with the interests of the Company. If the Grantee’s employment or other service with the Company has terminated, the judgment
of the CEO or other designated officer will be based on the Grantee’s position and responsibilities while employed by the Company, the Grantee’s post-employment responsibilities and position with the other organization or business, the
extent of past, current and potential competition or conflict between the Company and the other organization or business, the effect on the Company’s customers, suppliers, employees and competitors of the Grantee’s assuming the
post-employment position and such other considerations as are deemed relevant given the applicable facts and circumstances. 

2. The Grantee will not disclose to anyone outside the Company, or use other than in the Company’s business, any confidential or
proprietary information or material relating to the business of the Company, acquired by the Grantee either during or after employment with the Company. The Grantee understands that the Company’s proprietary and confidential information
includes, by way of example: (a) the identity of customers and prospects, their specific requirements, and the names, addresses and telephone numbers of individual contacts; (b) prices, renewal dates and other detailed terms of customer
and supplier contracts and proposals; (c) pricing policies, information about costs, profits and sales, methods of delivering software and services, marketing and sales strategies, and software and service development strategies;
(d) source code, object code, specifications, user manuals, technical manuals and other documentation for software products; (e) screen designs, report designs and other designs, concepts and visual expressions for software products;
(f) employment and payroll records; (g) forecasts, budgets, acquisition models and other non-public financial information; and (h) expansion plans, business or development plans, management policies, information about possible
acquisitions or divestitures, potential new products, markets or market extensions, and other business and acquisition strategies and policies. 
 3. The Grantee will promptly communicate to the Company, in writing, all marketing strategies, product ideas, software designs and concepts, software enhancement and improvement ideas, and other ideas and
inventions (collectively, “works and ideas”) pertaining to the Company’s business, whether or not patentable or copyrightable, that are made, written, developed, or conceived by the Grantee, alone or with others, at any time (during
or after business hours) while the Grantee is employed by the Company or during the three months after the Grantee’s employment terminates. The Grantee understands that all of those works and ideas will be the Company’s exclusive property,
and by accepting the Stock Units the Grantee assigns and agrees to assign all the Grantee’s right, title and interest in those works and ideas to the Company. The Grantee will sign all documents which the Company deems necessary to confirm its
ownership of those works and ideas, and the Grantee will cooperate fully with the Company to allow the Company to take full advantage of those works and ideas, including the securing of patent and/or copyright protection and/or other similar rights
in the United States and in foreign countries. 
 4. The Grantee will not solicit or contact at any time, directly or through
others, for the purpose or with the effect of competing or interfering with or harming any part of the Company’s business: (a) any customer or acquisition target under contract with the Company at any time during the last two years of the
Grantee’s employment with the Company; (b) any prospective customer or acquisition target that received or requested a proposal, offer or letter of intent from the Company at any time during the last two years of the Grantee’s
employment with the Company; (c) any affiliate of any such customer or prospect; (d) any of the individual contacts established by the Company or the Grantee or others at the Company during the period of the Grantee’s employment with
the Company; or (e) any individual who is an employee or independent contractor of the Company at the time of the solicitation or contact or who has been an employee or independent contractor within three months before such solicitation or
contact.Form of June 2011 Performance-Based Restricted Stock Unit Award Agreements

 Exhibit 10.4 

 

					
		  		  	Name: Template
		  		  	Number of Stock Units: Template
		  		  	Date of Grant:

 SUNGARD CAPITAL CORP. AND
SUNGARD CAPITAL CORP. II 
 MANAGEMENT
PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT 
 THIS AWARD AND ANY SECURITIES ISSUED UPON THE PAYMENT OF THIS 
 RESTRICTED
STOCK UNIT AWARD ARE SUBJECT TO RESTRICTIONS ON VOTING 
 AND TRANSFER AND REQUIREMENTS OF SALE AND OTHER PROVISIONS AS SET

 FORTH IN THE STOCKHOLDERS AGREEMENT AMONG SUNGARD CAPITAL CORP., 

SUNGARD CAPITAL CORP. II, SUNGARD HOLDING CORP., SOLAR CAPITAL CORP. 

AND CERTAIN STOCKHOLDERS OF SUNGARD CAPITAL CORP. AND SUNGARD 

CAPITAL CORP. II, DATED AS OF AUGUST 10, 2005 (AS IN EFFECT FROM TIME TO 

TIME, THE “STOCKHOLDERS AGREEMENT”). 
 SUNGARD CAPITAL CORP. AND SUNGARD CAPITAL CORP. II STRONGLY 
 ENCOURAGE
YOU TO SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL 
 ADVISORS WITH RESPECT TO YOUR AWARD AND ITS TAX CONSEQUENCES.

 This agreement (the “Agreement”) evidences Restricted Stock Units granted by SunGard Capital Corp., a
Delaware corporation (the “Company”), and SunGard Capital Corp. II, a Delaware corporation (“Lowerco” and together with the Company, the “Companies”), to the undersigned (the
“Grantee”), pursuant to, and subject to the terms of, the SunGard 2005 Management Incentive Plan (as amended from time to time, the “Plan”) which is incorporated herein by reference and of which the Grantee hereby
acknowledges receipt. 
 1. Grant of Restricted Stock Units. The Company and Lowerco (as applicable) grant to the
Grantee, as of the above Date of Grant, Restricted Stock Units for the number of Stock Units stated above (the “Stock Units”), on the terms provided herein and in the Plan. The Stock Units represent a conditional right to receive
Units (as defined below) consisting of Class A Common shares, Class L Common shares and Lowerco Preferred shares (the “Shares”). The Stock Units evidenced by this Agreement are granted to the Grantee in an Employment capacity
as an Employee. 
 2. Stock Unit Account. The Company shall establish and maintain a Stock Unit account (the
“Account”) as a bookkeeping account on its records for the Grantee and shall record in the Account the number of Stock Units awarded to the Grantee. No Shares shall be issued to the Grantee at the time the Award is made, and the
Grantee shall not be, nor have any of the rights or privileges of, a shareholder of the Companies with respect to any Stock Units recorded in the Account or amounts credited to the Account pursuant to Section 8. The Grantee shall not have any
interest in any fund or specific assets of the Companies by reason of this Award or the Account established for the Grantee. 

3. Meaning of Certain Terms. Except as otherwise defined herein, all capitalized terms used in this Agreement shall have the same
meaning as in the Plan. The terms “Change of Control,” “Disability” and “Fair Market Value” shall have the same meaning as set forth in the 

 
Stockholders Agreement and without regard to any subsequent amendment thereof. The term “Performance Period” is defined in Schedule A. The following terms shall have the
following meanings: 
  

	 	(a)	“Adjustment Event” means (i) a cash distribution with respect to Shares paid to all or substantially all holders of Shares, other than cash
dividends in respect of Shares declared by the Board as part of a regular dividend payment practice or stated cash dividend policy of the Company following an IPO, or (ii) a substantially pro rata redemption or substantially pro rata repurchase
(in each case, as applicable, by the Company, Lowerco or any of their subsidiaries) of all or part of any class of Shares; 

  

	 	(b)	“CEO” means the Chief Executive Officer of the Company. 

  

	 	(c)	“Date of Termination” means the date that the termination of the Grantee’s Employment with Employer is effective on account of the Grantee’s
death, the Grantee’s Disability, termination by Employer for Cause or without Cause, or by the Grantee, as the case may be; 

  

	 	(d)	“Employer” means the Company or, as the case may be, its Affiliate with whom the Grantee has entered into an Employment relationship;

  

	 	(e)	“Investors” means investment funds advised by Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman, Sachs & Co., Kohlberg Kravis
Roberts, Providence Equity Partners and TPG that own capital stock of the Company; 

  

	 	(f)	“Restrictive Covenant” means any of the restrictive covenants set forth in Exhibit A, which is incorporated herein by reference;

  

	 	(g)	“Tax” or “Taxes” means any income tax, social insurance, payroll tax, contributions, payment on account obligations or other payments;

  

	 	(h)	“Unit” means an undivided interest in 1.3 Class A shares, 0.1444 Class L shares and 0.05 Lowerco Preferred shares, determined at the Date of
Grant, as it may be adjusted as provided herein; and 

  

	 	(i)	 “Vest on a Pro Rata Basis” means, with respect to the Grantee’s termination of Employment described in Section 4(a) during
the Performance Period, that the Grantee’s Stock Units shall continue to be earned through the end of the Performance Period, provided that only a portion of the Stock Units subject to this Restricted Stock Unit Agreement that otherwise would
have been earned at the end of the Performance Period shall be earned as of the end of such period, such portion being determined by multiplying (i) the number of Stock Units that otherwise would have been earned at the end of such period based
upon attainment of the pre-determined performance goal, by (ii) (A) the number of days in which the Grantee was employed by Employer during the Performance Period divided by (B) 550 (the number of days in the Performance Period)
(rounded to the nearest whole number of Stock Units); and the Stock Units that are earned for 

  
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the Performance Period as described in this paragraph shall vest as of the last day of the Performance Period pursuant to Section 4(a). 

As used herein with respect to the Stock Units, the Stock Units shall be earned based on performance and shall vest based on
Section 4 below, and the term “vest” means that the restrictions on the right to receive payment pursuant to the Stock Units lapse in whole or in specified part 
 4. Vesting of Stock Units. The Stock Units shall be subject to forfeiture until the Stock Units vest. The Stock Units shall vest, in accordance with Schedule A, based on the Grantee’s
continued Employment; provided, however, that: 
  

	 	(a)	if the Grantee’s Employment terminates on or after January 1, 2012 as a result of (i) termination of the Grantee by Employer without Cause or
(ii) the Grantee’s Disability or death, then (A) if the Date of Termination occurs during the Performance Period, the Stock Units shall Vest on a Pro Rata Basis, and (B) if the Date of Termination occurs after end of the
Performance Period, any unvested Stock Units that were earned for the Performance Period shall become fully vested as of the Date of Termination; 

  

	 	(b)	if the Grantee’s Employment terminates for any reason before January 1, 2012, no Stock Units shall be earned or vested with respect to the Performance Period;

  

	 	(c)	if the Grantee’s Employment terminates as a result of resignation by the Grantee, then (A) if the Date of Termination occurs during the Performance Period, no
Stock Units shall be earned or vested with respect to the Performance Period, and (B) if the Date of Termination occurs after end of the Performance Period, any Stock Units that were earned in the Performance Period shall be deemed to have
stopped vesting as of the Date of Termination; 

  

	 	(d)	if the Grantee’s Employment terminates as a result of termination by Employer for Cause, then the Stock Units will be immediately forfeited by the Grantee and
terminate as of the Date of Termination; and 

  

	 	(e)	upon a Change of Control during the Performance Period, the Compensation Committee of the Board and the CEO will determine in mutual consultation the effect of such
Change of Control on the Stock Units, which shall be treated in a manner they jointly consider equitable under the circumstances; provided that in the event of a Change of Control after the Performance Period, any Stock Units that were earned with
respect to the Performance Period and that have not yet vested shall vest in full upon the Change of Control. 

5. Payment of Stock Units. The Grantee’s vested Stock Units shall be paid in Shares upon the first to occur of (i) a
Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code, (ii) the Grantee’s separation from service for any reason other than for Cause, or (iii) the date that is four
years after the Date of Grant. If a Change of Control occurs before the Stock Units are fully vested, any Stock Units that subsequently vest shall be paid upon the first to occur of (i) the Grantee’s separation from service for any reason
other than for Cause or (ii) the date that is four years after the Date of Grant. 

  
 -3-

 
Notwithstanding the foregoing, all distributions of Shares under this Agreement upon separation from service shall only be made upon the Grantee’s “separation from service” within
the meaning of Section 409A of the Code and a distribution shall be made at a time and in a manner consistent with Section 409A. Subject to Sections 15, 16 and 20, when the vested Stock Units become payable, the Companies will issue to the
Grantee Shares representing the Units underlying the vested Stock Units, subject to satisfaction of the Grantee’s Tax withholding obligations as described below, within 30 days after the payment event. 

6. Certain Calls and Puts. The Stock Units granted hereunder and the related Shares are subject to the call and put rights
contained in Section 6 of the Stockholders Agreement, except that such put rights shall be granted only if and to the extent permitted by the Code (including Section 409A thereof); provided, however, that the call rights contained in
Section 6 of the Stockholders Agreement shall not apply in the event of a termination resulting from Disability or death. 

7. Share Restrictions, etc. Except as expressly provided herein, the Grantee’s rights hereunder and with respect to Shares
received upon payment in accordance with Section 5 herein are subject to the restrictions and other provisions contained in the Stockholders Agreement. 
 8. Distributions, Redemptions, etc. 
  

	 	(a)	Upon the occurrence of an Adjustment Event, there shall be credited to the Account an amount equal to the product of (i) the per-Share amount paid with respect to
Shares underlying the Stock Units in connection with the Adjustment Event, multiplied by (ii) the number of Shares of the class of stock affected by the Adjustment Event that are included in each Unit immediately prior to the Adjustment Event,
multiplied by (iii) the number of Units underlying the Grantee’s Stock Units pursuant to this Award. 

  

	 	(b)	If any other cash dividend or distribution is paid with respect to Shares underlying the Stock Units, there shall be credited to the Account an amount equal to the
product of (i) the per-Share amount paid with respect to Shares underlying the Stock Units, multiplied by (ii) the number of Shares of the applicable class of stock that are included in each Unit, multiplied by (iii) the number of
Units underlying the Grantee’s Stock Units pursuant to this Award. 

  

	 	(c)	The amount credited to the Account pursuant to this Section 8 with respect to Stock Units is referred to as the “Bonus Value.” The Bonus Value shall vest
on the same terms as the Stock Units to which it relates, as set forth in this Agreement, and the vested Bonus Value shall be paid to the Grantee, in cash, Shares or such other securities or assets as the Compensation Committee or Board shall
determine, at the same time as the vested Stock Units are paid pursuant to Section 5 herein, consistent with Section 409A of the Code. 

  

	 	(d)	 In the case of a redemption or repurchase of Shares, the number of Shares of the class of stock redeemed or repurchased that are subject to outstanding
Stock Units will be automatically reduced by an amount proportionate to the percentage reduction in outstanding Shares of the affected class resulting from the 

  
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redemption or repurchase. The Grantee shall be entitled to receive any information reasonably requested regarding the composition of a Unit, as adjusted in accordance with this Section 8.

 9. Forfeiture. Upon delivery of Shares pursuant to the Stock Units, the Grantee shall certify on a form
acceptable to the Committee that the Grantee is, and at all times during and after Employment has been, in compliance with the Restrictive Covenants and all other agreements between the Grantee and the Company or any of its Affiliates. If the
Company determines that the Grantee is not, or at any time during or after Employment has not been, in compliance with one or more of the Restrictive Covenants or with the provisions of any agreement between the Grantee and the Company or any of its
Affiliates, and such non-compliance has not been authorized in advance in a specific written waiver from the Company or the applicable party, the Committee may cancel any unpaid Stock Units. The Company shall also have the following (and only the
following) additional remedies: 
  

	 	(a)	During the six months after any delivery of Shares pursuant to the Stock Units, such delivery may be rescinded at the Company’s option if the Grantee fails, or at
any time during or after Employment has failed, to comply in any material respect with the terms of the Restrictive Covenants or of any other agreement with the Company or any of its Affiliates or if the Grantee breaches, or at any time during or
after Employment has breached, any duty to the Company or any of its Affiliates. The Company shall notify the Grantee in writing of any such rescission within one year after such delivery. Within ten days after receiving such a notice from the
Company, the Grantee shall remit or deliver to the Company (i) the amount of any gain realized upon the sale of any Shares, (ii) any consideration received upon the exchange of any Shares (or to the extent that such consideration was not
received in the form of cash, the cash equivalent thereof valued at the time of the exchange), and (iii) the number of Shares received in connection with the rescinded delivery. 

 

	 	(b)	The Company shall have the right to offset, against any Shares and any cash amounts due to the Grantee under or by reason of the Grantee’s holding the Stock Units,
any amounts to which the Company is entitled as a result of the Grantee’s violation of the terms of the Restrictive Covenants or of any other agreement with the Company or any of its Affiliates or the Grantee’s breach of any duty to the
Company or any of its Affiliates; provided, however, that no offset shall accelerate or defer the distribution date of amounts payable under this Agreement in violation of Section 409A of the Code, and any offset in violation of
Section 409A shall be null and void. Accordingly, the Grantee acknowledges that (i) the Company may withhold delivery of Shares, (ii) the Company may place the proceeds of any sale or other disposition of Shares in an escrow account
of the Company’s choosing pending resolution of any dispute with the Company, and (iii) the Company has no liability for any attendant market risk caused by any such withholding, or escrow, subject, however, to compliance with the
requirements of Section 409A of the Code. 

 The Grantee acknowledges and agrees that the calculation of damages from a
breach of any of the Restrictive Covenants or of any other agreement with the Company or any of its Affiliates or 

  
 -5-

 
of any duty to the Company or any of its Affiliates would be difficult to calculate accurately and that the right to offset or other remedy provided for herein is reasonable and not a penalty.
The Grantee further agrees not to challenge the reasonableness of such provisions even where the Company rescinds, delays, withholds or escrows Shares or proceeds or uses those Shares or proceeds as a setoff. 

10. Legends, etc. Shares issued upon the lapse of any restrictions on the Stock Units shall bear such legends as may be required
or provided for under the terms of the Stockholders Agreement. 
 11. Transfer of Stock Units. The Stock Units may only
be transferred by the laws of descent and distribution, or to a legal representative in the event of the Grantee’s incapacity and in accordance with the terms of the Stockholders Agreement. 

12. Withholding. The payment of the Shares and other amounts in accordance with this Agreement will give rise to compensation
income which may be subject to withholding. The Grantee expressly acknowledges and agrees that the Grantee’s rights hereunder, including the right to be issued Shares in accordance with Section 5 herein and paid cash in accordance with
Section 8 hereof, are subject to the Grantee promptly paying to the Companies all Taxes required to be withheld, at the Grantee’s election, in cash or by Share withholding as described below (or by such other means as may be acceptable to
the Administrator in its discretion). The Grantee also authorizes the Companies and their Affiliates to withhold such amount from any amounts otherwise owed to the Grantee. Unless the Grantee elects otherwise by providing written notice to the
Company not later than 30 days after the payment event, any tax withholding obligation with respect to the payment of Shares shall be satisfied by having Shares withheld up to an amount that does not exceed the minimum applicable withholding Tax.
Accordingly, unless the Grantee timely elects to pay the withholding Taxes in cash, the Grantee shall be deemed to have elected to pay such Taxes through Share withholding as described above. In addition, the Companies may require the Grantee to pay
any taxes or other amounts required to be paid by the Companies or any Affiliate with respect to the grant or vesting of the Stock Units or the payment of the Shares. Any such taxes or amounts must be paid at such time and in such form as determined
by the Companies. 
 13. Grant Subject to Plan Provisions. This Award is made pursuant to the Plan, the terms of which
are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The Award and payment of the Stock Units are subject to interpretations, regulations and determinations concerning the Plan established from
time to time by the Administrator in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) the registration, qualification or listing of the shares issued under the Plan, (ii) changes in
capitalization and (iii) other requirements of applicable law. The Administrator shall have the authority to interpret and construe the Stock Units pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions
arising hereunder. 
 14. Effect on Employment. Neither the grant of the Stock Units, nor the issuance of Shares or other
payments in accordance with this Agreement, shall give the Grantee any right to be retained in the employ of the Company, Lowerco or any of their Affiliates, affect the right of the Company, Lowerco or any of their Affiliates to discharge or
discipline the Grantee at any 

  
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time, or affect any right of the Grantee to terminate his or her Employment at any time, subject to applicable local law and the terms of any employment agreement. 

15. Delay in Payments for Specified Employees. Notwithstanding anything in this Agreement to the contrary, if the Grantee is a
“specified employee” of a publicly traded corporation under Section 409A of the Code at the time of separation from service and if payment of any amount under this Agreement is required to be delayed for a period of six months after
the separation from service pursuant to Section 409A of the Code, payment of such amount shall be delayed as required by Section 409A of the Code, and the accumulated postponed amount shall be paid in a lump sum payment within 10 days
after the end of the six-month period. If the Grantee dies during the postponement period prior to the payment of postponed amount, the accumulated postponed amount shall be paid to the personal representative of the Grantee’s estate within 60
days after the date of the Grantee’s death. 
 16. Section 409A. It is intended that the Stock Units awarded
hereunder shall comply with the requirements of Section 409A of the Code (and any regulations and guidelines issued thereunder), and this Agreement shall be interpreted on a basis consistent with such intent. Payments shall only be made on an
event and in a manner permitted by Section 409A of the Code. Each payment under this Agreement is considered a separate payment for purposes of Section 409A of the Code. As provided under Section 409A, if calculation of the amount of
a payment is not administratively practicable due to events beyond the control of the Grantee, the payment will be treated as made upon the date specified hereunder if the payment is made during the first calendar year in which calculation of the
amount of the payment is administratively practicable. Accordingly, if the Grantee’s Date of Termination occurs on or after January 1, 2012 during the Performance Period and the Stock Units Vest on a Pro Rata Basis under Section 4(a),
and calculation of the amount of a payment is not administratively practicable due to events beyond the control of the Grantee, the vested Stock Units shall be paid during the first calendar year in which calculation of the amount of the payment is
administratively practicable, in accordance with Section 409A. This Agreement may be amended without the consent of the Grantee in any respect deemed by the Committee to be necessary in order to preserve compliance with Section 409A of the
Code. 
 17. Nature of Grant; No Entitlement; No Claim for Compensation. Grantee, in accepting the Stock Units,
represents and acknowledges that Grantee’s participation in the Plan is voluntary; that participation in the Plan is discretionary and does not form any part of Grantee’s contract of employment, if any, with the Company or any of its
subsidiaries; and that Grantee has not been induced to participate in the Plan by any expectation of employment or continued employment with the Company or any of its subsidiaries. Grantee furthermore understands and acknowledges that the grant of
the Stock Units is discretionary and a one-time occurrence, does not constitute any portion of Grantee’s regular remuneration and is not intended to be taken into account in calculating service-related benefits, and bears no guarantee or
implication that any additional grant will be made in the future. In consideration of the grant of the Stock Units, no claim or entitlement to compensation or damages shall arise from forfeiture of the Stock Units or diminution in value of the Stock
Units or any of the Shares issuable under the Stock Units from termination of Grantee’s employment by the Company or his or her employer, as applicable (and for any reason whatsoever and whether or not in breach of contract or local labor
laws), and Grantee irrevocably release his or her employer, the Company and its subsidiaries, as applicable, from any such claim that may arise; if, notwithstanding the foregoing, 

  
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any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, Grantee shall be deemed to have irrevocably waived Grantee’s entitlement to
pursue such claim. 
 18. Personal Data. Grantee understands and acknowledges that in order to perform its obligations
under the Plan, the Company and its subsidiaries may process personal data and/or sensitive personal data relating to Grantee. Such data includes but is not limited to the information provided in this Agreement and any changes thereto, other
personal and financial data relating to Grantee (including, without limitation, Grantee’s address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title), and information
about Grantee’s participation in the Plan and the Shares acquired from time to time pursuant to the Plan. Grantee, in accepting the Stock Units, gives his or her explicit and voluntary consent to the Company and its subsidiaries to collect, use
and process any such personal data and/or sensitive personal data (in electronic or other form). Grantee also hereby gives his or her explicit and voluntary consent to the Company and its subsidiaries to transfer any such personal data and/or
sensitive personal data (in electronic or other form) outside the country in which Grantee works or is employed. The legal persons for whom Grantee’s personal data are intended include the Company and any of its subsidiaries, any outside plan
administrator or service provider selected by the Company or any of its subsidiaries from time to time, and any other person that the Administrator may find in its administration of the Plan to be appropriate; such recipients may be located in
countries that have different data privacy laws and protections than Grantee’s country. Grantee hereby acknowledges that he or she has been informed of his or her right of access and correction to his or her personal data by contacting his or
her local human resources representative. Grantee understands that the transfer of the information described herein is important to the administration of the Plan and that failure to consent to the transmission of such information may limit or
prohibit his or her participation in the Plan. 
 19. Governing Law. This Agreement and all claims arising out of or
based upon this Agreement or relating to the subject matter hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule
that would cause the application of the domestic substantive laws of any other jurisdiction. 
 20. Compliance with Laws,
Regulations and Policies. The issuance of Shares pursuant to the vested Stock Units shall be subject to compliance by the Companies and the Grantee with all applicable requirements of law relating thereto (including, without limitation, foreign
securities and exchange control requirements). The inability of the Companies to lawfully issue Shares or the inability of the Companies and/or the Grantee to obtain approval from any regulatory body having authority deemed by the Companies to be
necessary to the lawful issuance of any Shares hereby shall relieve the Companies of any liability with respect to the non-issuance of the Shares. The Stock Units, and all Shares and other amounts payable pursuant to the Stock Units, are subject to
the terms of any applicable clawback and other policies adopted by the Board. 
 21. Amendment. In addition to the
authority to make adjustments pursuant to Section 7(b) of the Plan, the Administrator may modify the terms of the Award as the Administrator deems appropriate, in good faith, to take account of a change in circumstances occasioned by a stock
dividend or other similar distribution (whether in the form of stock, other 

  
 -8-

 
securities or other property), stock split or combination of shares (including a reverse stock split), recapitalization, conversion, reorganization, consolidation, split-up, spin-off,
combination, merger, exchange of stock, redemption or repurchase of all or part of the shares of any class of stock or any change in the capital structure of the Company or an Affiliate or other transaction or event, including the power to adjust
the performance goals that are affected by such a transaction. 
 22. Additional Terms and Conditions for Residents of
Certain Countries. The following are additional terms and conditions that govern an Award granted to a Grantee resident in one of the countries listed below: 
  

	 	(a)	For Residents of Chile: Neither the Company nor Lowerco or any of the Shares are (i) listed in the Chilean Registry of Securities or (ii) under the
supervision and control of the Superintendencia Valores Y Seguros de Chile. 

  

	 	(b)	For Residents of Hong Kong: The Stock Units and the Shares to be issued upon vesting of the Stock Units do not constitute a public offer of securities and are
available only for employees of the Company or a subsidiary. 

 WARNING: The contents of the Agreement and the
Plan have not been reviewed by any regulatory authority in Hong Kong. Grantee is advised to exercise caution in relation to the Stock Units. If Grantee is in any doubt as to the contents of the Agreement or the Plan, Grantee should obtain
independent professional advice. 
  

	 	(c)	For Residents of Singapore: The Stock Units have been granted pursuant to the “Qualifying Person” exemption” under section 273(1)(f) of the
Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”). The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore. Grantee should note that the Stock Units are subject to section 257 of the SFA
and Grantee will not be able to make (i) any subsequent sale of the shares of Stock in Singapore or (ii) any offer of such subsequent sale of the shares of Stock subject to the Stock Units in Singapore, unless such sale or offer is made
pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA (Chapter 289, 2006 Ed.). 

 [SIGNATURE PAGE FOLLOWS] 

  
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 By acceptance of the Stock Units, the undersigned agrees hereby to become a party to, and be
bound by the terms of, the Stockholders Agreement as a “Manager” as defined therein. 
 Executed as of the Date of
Grant. 
  

									
	SunGard Capital Corp. and	 		 	SUNGARD CAPITAL CORP.
	SunGard Capital Corp. II	 		 	SUNGARD CAPITAL CORP. II
					
		 		 		 	By: 	 	 
		 		 		 		 	

 Grantee 

I ACKNOWLEDGE THAT I HAVE RECEIVED A COPY OF
THIS AGREEMENT AND CERTAIN RELATED INFORMATION, AND THAT I HAVE READ AND
UNDERSTOOD THESE DOCUMENTS. I ACCEPT AND AGREE TO ALL OF THE PROVISIONS
OF THIS AGREEMENT. 
  

			
		  	          

		  	Template

 Grantee 

I ALSO ACKNOWLEDGE, WITH RESPECT TO ALL PRIOR
GRANTS OF RESTRICTED STOCK UNITS OR GRANTS OF OPTIONS BY THE
COMPANIES TO ME, THAT I HAVE RECEIVED A COPY OF EACH RESTRICTED STOCK
UNIT AGREEMENT AND/OR STOCK OPTION AGREEMENT AND CERTAIN RELATED INFORMATION,
AND THAT I HAVE READ AND UNDERSTOOD THESE DOCUMENTS. I ACCEPT AND AGREE
TO ALL OF THE PROVISIONS OF THE RESTRICTED STOCK UNIT AGREEMENTS
AND/OR STOCK OPTION AGREEMENTS PREVIOUSLY GRANTED TO ME BY THE
COMPANIES, WHICH ARE LISTED ON THE EQUITY STATEMENT THAT I RECEIVED ALONG
WITH THIS AGREEMENT. 
  

			
		  	          

		  	Template

  
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 Schedule A 
 Vesting Schedule 
  

	(1)	The Stock Units shall be earned to the extent the Target is achieved at the end of Performance Period as follows, and the portion of the Stock Units that is earned for
the Performance Period shall vest in accordance with paragraph (2) below: 

  

	 	(a)	if Actual Internal EBITA for the Performance Period is less than or equal to 95% of the Target, none of the Stock Units shall be earned at the end of the Performance
Period; 

  

	 	(b)	if Actual Internal EBITA for the Performance Period is between 95% and 100% of the Target, the number of Stock Units that shall be earned at the end of the Performance
Period shall be determined by linear interpolation between 95% and 100% of the number of Stock Units; and 

  

	 	(c)	if Actual Internal EBITA for the Performance Period is equal to or greater than 100% of the Target, all of the Stock Units shall be earned at the end of the Performance
Period. 

  

	(2)	The Stock Units shall vest and be exercisable with respect to 52% of the total number of Stock Units earned under paragraph (1) above at the end of the Performance
Period (“Initial Vesting Date”); and the remaining 48% of the total number of Stock Units earned shall vest and be exercisable in equal monthly installments of 2% over the 24 months following the Initial Vesting Date starting with the
first monthly anniversary of the Initial Vesting Date. 

  

	(3)	Any Stock Units that are not earned at the end of the Performance Period shall be forfeited as of the end of the Performance Period. Except as specifically provided in
this Agreement, any unvested Stock Units shall be forfeited as of the Grantee’s Date of Termination. 

 For purposes of this
Vesting Schedule: 
 “Performance Period” means the 18-month period from July 1, 2011 to December 31, 2012.

 “Actual Internal EBITA” means the Company’s actual earnings before interest, taxes and amortization for the
applicable period, determined based on the Company’s audited financials. Actual Internal EBITA shall not be reduced by costs of the Company’s proposed spin-off of its availability services business or related items, management and
transaction fees payable to the Investors or their affiliates, extraordinary items (as determined by the Compensation Committee in consultation with the CEO) or non-cash equity incentive expenses. Actual Internal EBITA shall be calculated without
giving effect to purchase accounting and shall be adjusted in good faith by the Compensation Committee in consultation with the CEO to reflect the consequences of acquisitions and dispositions. Unless otherwise determined by the Board or
Compensation Committee and agreed to by the CEO, the adjustment for acquisitions and dispositions shall be based on a cost of funds used for acquisitions and released by dispositions at a rate of 11%, compounded at the rate of 7.5% per annum,
provided that transactions with a purchase price in excess of $50 million may merit an alternative adjustment, in which case the rate will be as mutually agreed by the CEO and the Board or Compensation Committee. Actual Internal EBITA targets shall
be appropriately adjusted by the Compensation Committee in consultation with the CEO in case of changes in GAAP promulgated by FASB or the SEC or changes in depreciation methodology. 

“Target” means the sum of the Company’s final consolidated Actual Internal EBITA, as approved by the Board or Compensation
Committee and as appears in the Company’s operating budget for (i) the period from July 1, 2011 to December 31, 2011 and (ii) the period from January 1, 2012 to December 31, 2012. 

  
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 Exhibit A 
 Restrictive Covenants 
 1. The Grantee will not render services for any
organization or engage directly or indirectly in any business which, in the judgment and sole determination of the CEO or another senior officer designated by the Committee, is or becomes competitive with the Company and/or its Affiliates (together,
for purposes of this Exhibit A, “Company”), or which organization or business, or the rendering of services to such organization or business, is or becomes otherwise prejudicial to or in conflict with the interests of the Company. If the
Grantee’s employment or other service with the Company has terminated, the judgment of the CEO or other designated officer will be based on the Grantee’s position and responsibilities while employed by the Company, the Grantee’s
post-employment responsibilities and position with the other organization or business, the extent of past, current and potential competition or conflict between the Company and the other organization or business, the effect on the Company’s
customers, suppliers, employees and competitors of the Grantee’s assuming the post-employment position and such other considerations as are deemed relevant given the applicable facts and circumstances. 

2. The Grantee will not disclose to anyone outside the Company, or use other than in the Company’s business, any confidential or
proprietary information or material relating to the business of the Company, acquired by the Grantee either during or after employment with the Company. The Grantee understands that the Company’s proprietary and confidential information
includes, by way of example: (a) the identity of customers and prospects, their specific requirements, and the names, addresses and telephone numbers of individual contacts; (b) prices, renewal dates and other detailed terms of customer
and supplier contracts and proposals; (c) pricing policies, information about costs, profits and sales, methods of delivering software and services, marketing and sales strategies, and software and service development strategies;
(d) source code, object code, specifications, user manuals, technical manuals and other documentation for software products; (e) screen designs, report designs and other designs, concepts and visual expressions for software products;
(f) employment and payroll records; (g) forecasts, budgets, acquisition models and other non-public financial information; and (h) expansion plans, business or development plans, management policies, information about possible
acquisitions or divestitures, potential new products, markets or market extensions, and other business and acquisition strategies and policies. 
 3. The Grantee will promptly communicate to the Company, in writing, all marketing strategies, product ideas, software designs and concepts, software enhancement and improvement ideas, and other ideas and
inventions (collectively, “works and ideas”) pertaining to the Company’s business, whether or not patentable or copyrightable, that are made, written, developed, or conceived by the Grantee, alone or with others, at any time (during
or after business hours) while the Grantee is employed by the Company or during the three months after the Grantee’s employment terminates. The Grantee understands that all of those works and ideas will be the Company’s exclusive property,
and by accepting the Stock Units the Grantee assigns and agrees to assign all the Grantee’s right, title and interest in those works and ideas to the Company. The Grantee will sign all documents which the Company deems necessary to confirm its
ownership of those works and ideas, and the Grantee will cooperate fully with the Company to allow the Company to take full advantage of those works and ideas, including the securing of patent and/or copyright protection and/or other similar rights
in the United States and in foreign countries. 
 4. The Grantee will not solicit or contact at any time, directly or through
others, for the purpose or with the effect of competing or interfering with or harming any part of the Company’s business: (a) any customer or acquisition target under contract with the Company at any time during the last two years of the
Grantee’s employment with the Company; (b) any prospective customer or acquisition target that received or requested a proposal, offer or letter of intent from the Company at any time during the last two years of the Grantee’s
employment with the Company; (c) any affiliate of any such customer or prospect; (d) any of the individual contacts established by the Company or the Grantee or others at the Company during the period of the Grantee’s employment with
the Company; or (e) any individual who is an employee or independent contractor of the Company at the time of the solicitation or contact or who has been an employee or independent contractor within three months before such solicitation or
contact. 

  
 -12-

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