Second Amendment to Initial Deferred Stock Award Agreement



 Exhibit 10.99 
 

 
 December 3, 2008 

Lance Miyamoto 
 Comverse Technology, Inc.

 810 Seventh Avenue 
 35th Floor

 New York, NY 10019 

Re:  Second Amendment to the initial Deferred Stock Unit Award Agreement (the “Deferred Stock Award Agreement”)
dated as of November 1, 2007 between Comverse Technology, Inc. (the “Company”) and Lance Miyamoto 
 Dear Lance: 

Pursuant to the terms of the Deferred Stock Award Agreement, the Company was required to deliver to you on November 1, 2008 and is
required to deliver to you on November 1, 2009 the number of shares of Company common stock equal to the aggregate number of Granted Units (as defined in the Deferred Stock Award Agreement) that vest as of each date (i.e., 10,000 shares of
Company common stock). The Compensation Committee of the Company’s Board of Directors has determined that it would be beneficial to amend your Deferred Stock Award Agreement to provide greater flexibility as to the timing of the delivery of the
10,000 shares of Company common stock which vested on November 1, 2008 and which will vest on November 1, 2009 in order to alleviate the possibility of the vested Company common stock being required to be delivered to you (and taxable to
you) when the Company common stock is not subject to an effective registration statement and/or other restrictions on the resale of such stock. Accordingly, upon your execution of this letter amendment below and delivery to the Company by
December 23, 2008, the Deferred Stock Award Agreement is hereby amended by adding the following as the last sentence of Section 4(a): 

“Notwithstanding anything to the contrary contained in this Section 4(a), and subject to Section 4(b), the number of shares of Common
Stock deliverable to the Grantee in respect of any Granted Units which vest in calendar years 2008 and 2009 shall be deliverable to the Grantee on the first date within calendar year 2010 on which there is an Effective Registration (as defined
below) in place, but in no event later than December 31, 2010; provided, however, that (i) in the event of the Grantee’s Service Termination in accordance with Section 3(b) prior to December 31, 2010 and there
is no Effective 
  

 810 Seventh Avenue,
35th Floor, New York, NY
10019        Telephone (212) 739 1000  Facsimile (212) 739 1001 

www.cmvt.com 








 
Registration in place or (ii) in the event that any shares are deliverable to the Grantee in respect of Granted Units when there is no effective registration statement on Form S-8 or any
successor form under the Securities Act of 1933, as amended, in respect of the Granted Units, unless the Grantee elects otherwise subject to Section 4(b), the number of shares of Common Stock in respect of any Granted Units which are vested as
of the Termination Date or Vesting Date, as applicable, shall be delivered to the Grantee on the Termination Date or Vesting Date, as applicable, less a number of shares of Common Stock with an aggregate value sufficient to cover any applicable
Withholding Tax, with the shares of Common Stock valued using the closing price of the Common Stock on the Termination Date or Vesting Date, as applicable. For purposes of this Section 4, “Effective Registration” shall mean the
registration of the shares of Common Stock granted to the Grantee hereunder pursuant to an effective registration statement on Form S-8 or any successor form under the Securities Act of 1933, as amended, and no restrictions under applicable law
apply to the resale of such shares of Common Stock at the time of delivery of such shares of Common Stock.” 
 This letter
amendment constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to the subject matter herein and supersedes any other promises, warranties, representations or amendments related to
the subject matter herein, including, without limitation the letter amendment to the initial Deferred Stock Unit Award Agreement dated as of November 1, 2007 between Comverse Technology, Inc. and Lance Miyamoto, dated as of April 29, 2008

 Except as expressly herein amended, the terms and conditions of the Deferred Stock Award Agreement shall remain in full force
and effect. 
  

							
		 		 	COMVERSE TECHNOLOGY INC.
				
		 		 	By:	 	 /s/ Cynthia L. Shereda

		 		 	Name:	 	Cynthia L. Shereda
		 		 	Title:	 	Executive Vice President, General Counsel and Corporate Secretary
				
	Accepted and Agreed as of December 4, 2008:	 		 		 	
				
	 /s/ Lance Miyamoto
	 		 		 	
	Lance Miyamoto	 		 		 	

  

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