FILED PURSUANT TO RULE 424(B)(3)
File Number 333-166304
SUNGARD DATA SYSTEMS INC.
SUPPLEMENT NO. 11 TO
MARKET-MAKING PROSPECTUS DATED JUNE 18, 2010
THE DATE OF THIS SUPPLEMENT IS MAY 23, 2011
ON MAY 23, 2011, SUNGARD DATA SYSTEMS INC. FILED THE ATTACHED
CURRENT REPORT ON FORM 8-K DATED MAY 17, 2011
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 17, 2011
Commission file numbers:
SunGard Capital Corp. 000-53653
SunGard Capital Corp. II 000-53654
SunGard Data Systems Inc. 1-12989
SunGard® Capital Corp.
SunGard® Capital Corp. II
SunGard® Data Systems Inc.
(Exact name of registrant as specified in its charter)
Delaware | 20-3059890 | |
Delaware | 20-3060101 | |
Delaware | 51-0267091 | |
(State or other jurisdiction of incorporation) |
(I.R.S. Employer Identification No.) |
680 Swedesford Road Wayne, Pennsylvania |
19087 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (484) 582-2000
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
SunGard Data Systems Inc. (the Company) and Robert F. Woods, the Companys chief financial officer, are parties to an existing employment agreement, effective January 1, 2010, which provides for severance benefits upon Mr. Woods resignation for good reason in connection with a change of control of the Company or upon Mr. Woods involuntary termination by the Company without cause. The employment agreement was filed with the Securities and Exchange Commission on Form 8-K on December 22, 2009.
On May 17, 2011, the Company and Mr. Woods amended the employment agreement to provide that Mr. Woods will receive severance benefits upon his resignation for good reason, without regard to a change of control, and to modify the definition of resignation for good reason. Under the employment agreement, a change in Mr. Woods positions, titles, offices or responsibilities that constitutes a material and adverse change from Mr. Woods positions, titles, offices or responsibilities as in effect immediately before such change without Mr. Woods consent gives rise to a right to resign for good reason. Under the amendment, a material and adverse change in Mr. Woods positions, titles, offices or responsibilities will not be deemed to have occurred for this purpose solely as a result of a spin-off of the availability services business of the Company, the sale of some or all of the assets of the availability services business or an initial public offering relating to the stock of the Company or any of its affiliates. The amendment also modifies the definition of resignation for good reason to include the occurrence of either of the following, without Mr. Woods express prior consent: (1) a material change in the geographic location at which Mr. Woods is required to perform services for the Company or (2) a material breach by the Company of the employment agreement. The method of calculating the amount of severance benefits has not changed.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
Exhibit Title | |
10.1 | Amendment dated May 17, 2011 to the Employment Agreement by and between SunGard Data Systems Inc. and Robert Woods effective as of January 1, 2010 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SunGard Capital Corp. SunGard Capital Corp. II | ||||
May 23, 2011 | By: | /s/ Victoria E. Silbey | ||
Victoria E. Silbey | ||||
Vice President |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SunGard Data Systems Inc. | ||||
May 23, 2011 | By: | /s/ Victoria E. Silbey | ||
Victoria E. Silbey | ||||
Senior Vice President-Legal and Chief Legal Officer |
Exhibit Index
Exhibit |
Exhibit Title | |
10.1 | Amendment dated May 17, 2011 to the Employment Agreement by and between SunGard Data Systems Inc. and Robert Woods effective as of January 1, 2010 |
Exhibit 10.1
AMENDMENT
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT, dated as of May 17, 2011, between SunGard Data Systems Inc., a Delaware corporation (the Company), and Robert Woods (Executive).
WHEREAS, the Company and Executive previously entered into an Employment Agreement, dated as of January 1, 2010, (the Employment Agreement) that sets forth the terms and conditions of Executives employment with the Company;
WHEREAS, the Company and Executive desire to amend the Employment Agreement to provide for certain severance benefits if the Executives employment with the Company terminates on account of the Executives Resignation for Good Reason, which will cease to be conditioned on the occurrence of a Potential Change of Control or a Change of Control (each as defined in the Employment Agreement); and
WHEREAS, pursuant to Section 12(a) of the Employment Agreement, the Employment Agreement may be amended pursuant to a written amendment approved by the Chief Executive Officer of the Company and executed by a duly authorized officer of the Company and Executive.
NOW, THEREFORE, the Company and Executive hereby agree that, effective as of the date of this Amendment, the Employment Agreement shall be amended as follows:
1. Section 2.1 of the Employment Agreement is hereby amended in its entirety to read as follows:
2.1 Termination without Cause or Resignation for Good Reason. The Company may terminate Executives employment with the Company at any time without Cause (as defined in Section 3) (in which case the Employment Term shall be deemed to have ended) upon not less than 60 days prior written notice pursuant to Section 11 to Executive; provided, however, that, in the event that such notice is given, Executive shall be allowed to seek other employment, to the extent such other employment is consistent with Executives obligations under Section 5. In addition, Executive may resign from his employment with the Company on account of a Resignation for Good Reason (as defined in Section 3) (in which case the Employment Term shall be deemed to have ended), with such resignation to become effective no later than the day immediately following the ninetieth (90th) day following the initial occurrence of the event constituting a Resignation for Good Reason.
2. The heading for Section 2.2 of the Employment Agreement is hereby amended in its entirety to read as follows:
2.2 Benefits Payable upon Termination without Cause or Resignation for Good Reason.
3. Section 2.2(b) of the Employment Agreement is hereby amended in its entirety to read as follows:
(b) Payment of the lump sum benefits described in this subsection (a) above shall be made on the 60th day after Executives Termination Date, subject to Executives execution of, and nonrevocation of, an effective Release.
4. Section 2.3 of the Employment Agreement is hereby amended to add the following sentence to the end thereof:
Notwithstanding the foregoing, this Section 2.3 shall not apply if Executive terminates his employment on account of a Resignation for Good Reason.
5. Section 3(g) of the Employment Agreement is hereby amended in its entirety to read as follows:
(g) Resignation for Good Reason means, without Executives express prior written consent, the occurrence of any of the following: (1) a significant reduction in the Executives base salary or level of benefits to which the Executive is entitled, other than by such reduction or change that is part of and consistent with a general reduction or change applicable to all executive officers of the Company unrelated to a Change of Control; (2) a change in the Executives positions, titles, offices or responsibilities that constitutes a material and adverse change from the Executives positions, titles, offices or responsibilities as in effect immediately before such change, provided, however, that a material and adverse change in Executives positions, titles, offices or responsibilities shall not be deemed to have occurred solely as a result of a spin-off of the availability services business of the Company (the AS Business), the sale of some or all of the assets of the AS Business or an initial public offering relating to the stock of any member of the SunGard Group; (3) a material change in the geographic location at which Executive must perform services, provided that normal business travel occasioned by Executives position shall not be deemed a material change in geographic location; or (4) the Companys material breach of this Agreement, including, but not limited to, the failure by the Company to obtain, before a Change of Control occurs, an agreement in writing from any Successors and Assigns, to assume and agree to perform this Agreement; provided that within sixty (60) days following the first occurrence of any such event or condition, the Executive shall have given Notice of Termination to the Company and the Company shall not have fully corrected the event or condition within thirty (30) days after such Notice of Termination is given. Termination of
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the Executives employment by the Company for Cause, by the Executive other than for Resignation for Good Reason or as a result of the Executives death or Disability shall not be deemed to constitute or result in Resignation for Good Reason.
6. Clause (ii) of the second sentence of Section 4 of the Employment Agreement is hereby amended in its entirety to read as follows:
(ii) briefly summarize the facts and circumstances deemed to provide a basis for a termination of employment if for Cause or Resignation for Good Reason,
7. The individual signing below on behalf of the Company is a duly authorized officer of the Company who has the authority to enter into this Amendment on behalf of the Company.
8. In all respects not modified by this Amendment, the Employment Agreement is hereby ratified and confirmed.
[Signature Page Follows]
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IN WITNESS WHEREOF, the Company and Executive agree to the terms of the foregoing Amendment, effective as of the date set forth above.
SUNGARD DATA SYSTEMS INC. | ||
By: | /s/ Cristóbal Conde | |
Name: Cristóbal Conde | ||
Title: Chief Executive Officer | ||
Date: May 17, 2011 | ||
EXECUTIVE | ||
/s/ Robert Woods | ||
Name: Robert Woods | ||
Title: Chief Financial Officer | ||
SunGard Data Systems Inc. | ||
Date: May 17, 2011 |
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