Document:

Exhibit 10.28

Exhibit 10.28

___________ __, 20__

[Name of Recipient]

[Address]

Notice of Grant of Performance-Based Restricted Stock Units

Dear [Name]:

Congratulations! You have been granted a performance-based Restricted Stock Unit award (the
“Award”) pursuant to the terms and conditions of the Verint Systems Inc. (the “Company”) [Stock
Incentive Compensation Plan][2004 Stock Incentive Compensation Plan][2010 Long-Term Stock Incentive
Plan][, as modified by the [UK Sub-Plan thereunder][Canadian Sub-Plan thereunder][Israeli
Supplement thereto],] (the “Plan”) and the attached Verint Systems Inc. Performance-Based
Restricted Stock Unit Award Agreement (the “Agreement”). The details of your Award are specified
below and in the attached Agreement.

	 	 	 	 	 
	 

	 	Granted To:
	 	[Name]
	 

	 	ID#:
	 	[ID Number]
	 
	 	 	 	 
	 

	 	Grant Date:
	 	[                    ]
	 
	 	 	 	 
	 

	 	Target Number	 	 
	 

	 	of Units Granted:
	 	[Number] (with the opportunity to earn up to 
[Number]1 additional
Restricted Stock Units)
	 
	 	 	 	 
	 

	 	Price Per Unit:
	 	U.S.$0.00
	 
	 	 	 	 
	 

	 	Vesting Schedule:	 	 
	 

	 	 	 	The Restricted Stock Units granted hereby shall vest on
the dates or at the times set forth in the Agreement, upon
the achievement of specified performance goals.

 

	 	 	 
	1	 	Not to exceed 100% of the Target Number of Units (i.e.,
if the Target Number of Restricted Stock Units is 100, the opportunity for
additional Restricted Stock Units may not exceed 100, for a grand total of
200).

Universal Performance-Based RSU Form (2011)

 

 

 

	 	 	 	 	 
	 	Verint Systems Inc.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

By my signature below, I hereby acknowledge my receipt of this Award granted on the date shown
above, which has been issued to me under the terms and conditions of the Plan and the Agreement. I
agree that the Award is subject to all of the terms and conditions of this Notice of Grant of
Restricted Stock Units, the Plan, and the Agreement.

If I am a resident of Canada, I also acknowledge having requested that this Notice and all
documents referred to herein be drafted in the English language. Je reconnais également avoir
exigé que ce document ainsi que tout document auquel ce document fait référence, soient rédigés en
langue anglaise.

Signature:       
                 
                
                
            Date:    
                 

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VERINT SYSTEMS INC.

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT

This Performance-Based Restricted Stock Unit Award Agreement (“Agreement”) and the Verint
Systems Inc. [Stock Incentive Compensation Plan][2004 Stock Incentive Compensation Plan][2010
Long-Term Stock Incentive Plan][, as modified by the [UK Sub-Plan thereunder][Canadian Sub-Plan
thereunder][Israeli Supplement thereto],] (the “Plan”) govern the terms and conditions of
the Performance-Based Restricted Stock Unit Award (the “Award”) specified in the Notice of
Grant of Performance-Based Restricted Stock Units (the “Notice of Grant”) delivered
herewith entitling the person to whom the Notice of Grant is addressed (“Grantee”) to
receive from Verint Systems Inc. (the “Company”) the targeted number of performance-based
Restricted Stock Units indicated in the Notice of Grant (and the opportunity to earn additional
Restricted Stock Units if targeted performance is exceeded, as described herein, if provided for in
the Notice of Grant), subject to the terms and conditions of this Agreement (the “Restricted
Stock Units”). [The Award is a Performance Compensation Award intended to qualify as
“performance-based compensation” under Section 162(m) of the Code.]2

	1	 	RESTRICTED STOCK UNITS; VESTING
	 
	1.1	 	Grant of Performance-Based Restricted Stock Units.

	(a)	 	Subject to the terms of this Agreement, the Company hereby grants to Grantee the targeted
number of performance-based Restricted Stock Units indicated in the Notice of Grant (the
“Target Units”), vesting of which depends upon the Company’s performance during each
Performance Period (defined below), as specified for each such Performance Period.

	(b)	 	Grantee’s right to receive all, any portion of, or more than the Target Units will be
contingent upon the Company’s achievement of specified levels of Revenue measured over the
following periods (each, a “Performance Period” and, collectively, the
“Performance Periods”):

	 	(i)	 	Payment of the first one-third of the Target Units (the
“20[       ] Units”) will be contingent upon the achievement of specified levels of Revenue
during the period from [            
        ] through [   
                 ]
(the “20[________] Period”);

	 	(ii)	 	Payment of the second one-third of the Target Units (the
“20[________] Units”) will be contingent upon the achievement of specified levels of Revenue
during the period from
[               
     ] through [      
              ] (the “20[________] Period”); and

	 	(iii)	 	Payment of the final one-third of the Target Units (the “20[_______] Units”) will be contingent upon the achievement of specified levels of Revenue
during the period from [                
    ] through [           
         ] (the “20[_______] Period” or the “Final Period”).

 

	 	 	 
	2	 	Include for 162(m) officers.

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	(c)	 	The applicable “Revenue” definition and target, “Threshold” level, and “Maximum” level (as
described below) for each Performance Period will be set by the Board or the Committee prior
to the conclusion of each such Performance Period, and to the extent practicable, within the
first 90 days of each such Performance Period, and will be attached in a performance matrix
(the “Performance Matrix”) as an exhibit to this Agreement. A sample Performance
Matrix is set forth on Exhibit A hereto.

	(d)	 	If and when the Restricted Stock Units vest in accordance with the terms of this Agreement
and the Notice of Grant without forfeiture, and upon the satisfaction of all other applicable
conditions as to the Restricted Stock Units, one Share shall be issuable to Grantee for each
Restricted Stock Unit that vests on such date, which Shares, except as otherwise provided
herein or in the Notice of Grant, will be free of any Company-imposed transfer restrictions.
Except as otherwise provided below, any fractional Restricted Stock Unit remaining after the
Award is fully vested shall be discarded and shall not be converted into a fractional Share.

	1.2	 	Vesting of Performance-Based Restricted Stock Units.

	(a)	 	Below Threshold. If upon conclusion of the relevant Performance Period, Revenue for
that Performance Period falls below the “Threshold” level, as set forth in the applicable
Performance Matrix, no Restricted Stock Units for that Performance Period shall become vested.

	(b)	 	Between Threshold and Target. If, upon conclusion of the relevant Performance
Period, Revenue for that Performance Period equals or exceeds the “Threshold” level, but is
less than the “Target” level, as set forth in the applicable Performance Matrix, a portion of
the Target Units eligible for vesting during such Performance Period (of between the
percentage specified on the Performance Matrix opposite the “Threshold” Revenue level and
100%) will vest based on where actual Revenues for such Performance Period fall between the
“Threshold” level and the “Target” level. If the foregoing calculation would result in the
vesting of a fraction of a Restricted Stock Unit, the result of the calculation will be
rounded down to the nearest whole Restricted Stock Unit.

	(c)	 	Between Target and Maximum. If, upon the conclusion of the relevant Performance
Period, Revenue for that Performance Period equals or exceeds the “Target” level, but is less
than the “Maximum” level, as set forth in the applicable Performance Matrix, 100% of the
Target Units for such Performance Period will become vested, plus, if the Notice of Grant
indicates that units in excess of the Target Units are eligible to be earned, an additional
number of Restricted Stock Units (of between 0% and the maximum percentage of the Target Units for such Performance
Period specified on the Performance Matrix opposite the “Maximum” Revenue level) based on
where actual Revenues for such Performance Period fall between the “Target” level and the
“Maximum” level. If the foregoing calculation would result in the vesting of a fraction of
a Restricted Stock Unit, the result of the calculation will be rounded down to the nearest
whole Restricted Stock Unit.

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	(d)	 	Equals or Exceeds Maximum. If the Notice of Grant indicates that units in excess of
the Target Units are eligible to be earned, and upon conclusion of the relevant Performance
Period, Revenue for that Performance Period equals or exceeds the “Maximum” level, as set
forth in the applicable Performance Matrix, the maximum percentage of the Target Units for
such Performance Period specified on the Performance Matrix opposite the “Maximum” Revenue
level shall become vested.

	(e)	 	Determination of Earned Award. Not later than 60 days following the Board’s receipt
of the Company’s audited financial statements covering the relevant Performance Period, the
Board or the Committee will determine (i) whether and to what extent the goals relating to
Revenue have been satisfied for each Performance Period, (ii) the number of Restricted Stock
Units that shall have become vested hereunder and (iii) whether all other conditions to
receipt of the Shares have been met. The Board or Committee’s determination of the foregoing
shall be final and binding on Grantee absent a showing of manifest error. Notwithstanding any
other provision of this Agreement, no Restricted Stock Units for a given Performance Period
shall vest until the Board or Committee has made the foregoing determinations for such
Performance Period (the date of such determination for each Performance Period). [In the case
of the Final Period, such determination shall not be final until on or after the third
anniversary of the date of Board or Committee approval.]3

	(f)	 	Other Vesting Provisions. Any Restricted Stock Units that do not become vested based
on the foregoing provisions with respect to a given Performance Period will be automatically
forfeited by Grantee without consideration.

	1.3	 	Forfeiture.

	(a)	 	Except as otherwise provided herein, Grantee’s right to receive any of the Restricted Stock
Units is contingent upon his or her remaining in the Continuous Service of the Company or a
Subsidiary or Affiliate through the end of the relevant Performance Period. If Grantee’s
Continuous Service terminates for any reason, all Restricted Stock Units which are then
unvested shall, unless otherwise determined by the Board or the Committee in its sole
discretion or subject to a separate written agreement between
the parties, be cancelled and the
Company shall thereupon have no
further obligation thereunder.
For the avoidance of doubt,
subject to a separate written
agreement between the parties,
Grantee acknowledges and agrees
that he or she has no expectation
that any Restricted Stock Units
will vest on the termination of
his or her Continuous Service for
any reason and that he or she will
not be entitled to make a claim
for any loss occasioned by such
forfeiture as part of any claim
for breach of his or her
employment or service contract or
otherwise.

 

	 	 	 
	3	 	Required for grant under the 2004 Plan only.

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	1.4	 	Delivery.

	(a)	 	Subject to Section 1.6 and any other applicable conditions hereunder, as soon as
administratively practicable following the vesting of Restricted Stock Units in accordance
with the terms of this Agreement (but in no event later than the date the short-term deferral
period under Section 409A of the Code expires with respect to such vested Shares), the Company
shall issue the applicable Shares and, at its option, (i) deliver or cause to be delivered to
Grantee a certificate or certificates for the applicable Shares or (ii) transfer or arrange to
have transferred the Shares to a brokerage account of Grantee designated by the Company.

	(b)	 	Notwithstanding the foregoing, the issuance of Shares upon the vesting of a Restricted Stock
Unit shall be delayed in the event the Company reasonably anticipates that the issuance of
Shares would constitute a violation of U.S. federal securities laws, other applicable law, or
Nasdaq rules. If the issuance of the Shares is delayed by the provisions of this paragraph,
such issuance shall occur at the earliest date at which the Company reasonably anticipates
issuing the Shares will not cause such a violation. For purposes of this paragraph, the
issuance of Shares that would cause inclusion in gross income or the application of any
penalty provision or other provision of the Code or other tax legislation applicable to
Grantee is not considered a violation of applicable law.

	1.5	 	Restrictions.

	(a)	 	Except as provided herein, Grantee shall not have any rights as a stockholder with respect to
any Shares to be distributed under the Plan until he or she has become the holder of such
Shares as provided in the Plan.
	 
	(b)	 	The Award is subject to the transferability restrictions under the Plan.

	1.6	 	Tax; Withholding.

	(a)	 	The Company shall determine the amount of any withholding or other tax required by law to be
withheld or paid by the Company or its Subsidiary with respect to any income recognized by
Grantee with respect to the Restricted Stock Units or the issuance of Shares pursuant to the
terms of the Restricted Stock Units.

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	(b)	 	Neither the Company nor any Subsidiary, Affiliate or agent makes any representation or
undertaking regarding the treatment of any tax or withholding in connection with the grant or
vesting of the Award or the subsequent sale of Shares subject to the Award. The Company and
its Subsidiaries and Affiliates do not commit and are under no obligation to structure the
Award to reduce or eliminate Grantee’s tax liability.

	(c)	 	Notwithstanding the withholding provision in the Plan:

	 	(i)	 	If in the tax jurisdiction in which Grantee resides a tax withholding
obligation arises upon vesting of the Award (regardless of when the Shares underlying
the Award are delivered to Grantee), then on each date the Award actually vests, if
(1) the Company does not have in place an effective registration statement under the
Securities Act of 1933, as amended (the “Securities Act”) under which Grantee
may sell Shares or (2) Grantee is subject to a Company-imposed trading blackout,
unless Grantee has made other arrangements satisfactory to the Company, the Company
will withhold from the Shares to be delivered to Grantee such number of Shares as are
sufficient in value (as determined by the Committee in its sole discretion) to cover
the minimum amount of the tax withholding obligation.

	 	(ii)	 	If in the tax jurisdiction in which Grantee resides a tax withholding
obligation arises upon delivery of the Shares underlying the Restricted Stock Units
(regardless of when vesting occurs), then following each date the Award actually
vests, the Company will defer the delivery of the Shares otherwise deliverable to
Grantee until the earliest of (1) the date Grantee’s employment with the Company (or a
Subsidiary or Affiliate) is terminated (by either party), (2) the date that the
short-term deferral period under Section 409A of the Code expires with respect to such
vested Shares, or (3) the date on which the Company has in place an effective
registration statement under the Securities Act under which Grantee may sell Shares
and on which Grantee is not subject to a Company-imposed trading blackout (the
earliest of such dates, the “Delivery Date”). If on the Delivery Date (1) the Company
does not have in place an effective registration statement under the Securities Act
under which Grantee may sell Shares or (2) Grantee is subject to a Company-imposed
trading blackout, unless Grantee has made other arrangements satisfactory to the
Company, the Company will withhold from the Shares to be delivered to Grantee such
number of Shares as are sufficient in value (as determined by the Committee in its
sole discretion) to cover the minimum amount of the tax withholding obligation.

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	(d)	 	Grantee is ultimately liable and responsible for all taxes owed by Grantee in connection with
the Award, regardless of any action the Company or any of its Subsidiaries, Affiliates or
agents takes with respect to any tax withholding
obligations that arise in connection with the Award. Accordingly, Grantee agrees to pay to
the Company or its relevant Subsidiary or Affiliate as soon as practicable, including
through additional payroll withholding (if permitted under applicable law), any amount of
required tax withholding that is not satisfied by any such action of the Company or its
Subsidiary or Affiliate.

	(e)	 	The Committee shall be authorized, in its sole discretion, to establish such rules and
procedures relating to the use of Shares of common stock to satisfy tax withholding
obligations as it deems necessary or appropriate to facilitate and promote the conformity of
Grantee’s transactions under this Agreement with Rule 16b-3 under the Securities Exchange Act
of 1934, as amended, if such rule is applicable to transactions by Grantee.

1.7 Detrimental Activity. In the event the Committee determines or discovers during or
after the course of Grantee’s employment that Grantee committed an act during the course of
employment that constitutes or would have constituted Cause for termination, the Committee shall
have the right to cancel any or all of Grantee’s then outstanding Awards (whether or not vested).

2 CERTAIN DEFINITIONS

Defined terms not defined in this Agreement but defined in the Plan shall have the same definitions
as in the Plan [and Appendix A].4

3 REPRESENTATIONS OF GRANTEE

Grantee hereby represents to the Company that Grantee has read and fully understands the provisions
of this Agreement, and Grantee acknowledges that Grantee is relying solely on his or her own
advisors with respect to the tax consequences of this Award. Grantee acknowledges that this
Agreement has not been reviewed or approved by any regulatory authority in his or her country of
residence or otherwise.

 

	 	 	 
	4	 	Include for grants under the 1996 and 2004 plans.

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4 NOTICES

All notices or communications under this Agreement shall be in writing, addressed as follows:

To the Company:

Verint Systems Inc.

330 South Service Road

Melville, NY 11747-3201

U.S.A.

+(631) 962-9600 (phone)

+(631) 962-9623 (fax)

Attn: Chief Legal Officer

To Grantee:

as set forth in the Company’s payroll
records

Any such notice or communication shall be (a) delivered by hand (with written confirmation of
receipt) or sent by a nationally recognized overnight delivery service (receipt requested) or (b)
sent certified or registered mail, return receipt requested, postage prepaid, addressed as above
(or to such other address as such party may designate in writing from time to time), and the actual
date of receipt shall determine the time at which notice was given. Grantee will promptly notify
the Company in writing upon any change in Grantee’s mailing address or e-mail address.

5 BINDING AGREEMENT

This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of
Grantee and the assigns and successors of the Company.

6 ENTIRE AGREEMENT; AMENDMENT

The Plan, this Agreement and the Notice of Grant represent the entire agreement of the parties
with respect to the subject matter hereof. The Committee may waive any conditions or rights under,
amend any terms of, or alter, suspend, discontinue, cancel or terminate, the Award; provided that
any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination
that would impair the rights of Grantee or any holder or beneficiary of the Award previously
granted shall not be effective as to the Grantee without the written consent of Grantee, holder or
beneficiary, further, provided, that the consent of Grantee or any holder or beneficiary shall not
be required to an amendment that is deemed necessary by the Company to ensure compliance with (a)
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any regulations promulgated
thereunder, including as a result of the implementation of any recoupment policy the Company adopts
to comply with the requirements set forth in the Dodd-Frank Act and (b) Section 409A of the Code as
amplified by any Internal Revenue Service or
U.S. Treasury Department regulations or guidance, or any other applicable equivalent tax law,
rule, or regulation, as the Company deems appropriate or advisable.

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7 GOVERNING LAW

The rules and regulations relating to this Agreement shall be determined in accordance with the
laws of the State of New York, applied without giving effect to its conflict of laws principles.
Each party to this Agreement hereby consents and submits himself, herself or itself to the
jurisdiction of the courts of the state of New York for the purposes of any legal action or
proceeding arising out of this Agreement. Nothing in this Agreement shall affect the right of the
Company to commence proceedings against the Grantee in any other competent jurisdiction, or
concurrently in more than one jurisdiction, or to serve process, pleadings and other papers upon
the Grantee in any manner authorized by the laws of any such jurisdiction. The Grantee irrevocably
waives:

(a) any objection which it may have now or in the future to the laying of the venue of any
action, suit or proceeding in any court referred to in this Section; and

(b) any claim that any such action, suit or proceeding has been brought in an inconvenient
forum.

8 SEVERABILITY

If any provision of this Agreement is or becomes or is deemed to be invalid, illegal or
unenforceable in any jurisdiction or as to any person or this Agreement, or would disqualify this
Agreement under any law deemed applicable by the Committee, such provision shall be construed or
deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended
without, in the determination of the Committee, materially altering the intent of this Agreement,
such provision shall be stricken as to such jurisdiction, person or this Agreement and the
remainder of this Agreement shall remain in full force and effect.

9 ONE-TIME GRANT; NO RIGHT TO CONTINUED SERVICE OR PARTICIPATION; EFFECT ON OTHER PLANS

The award evidenced by this Agreement is a voluntary, discretionary bonus being made on a one-time
basis and it does not constitute a commitment to make any future awards. Neither this Agreement
nor the Notice of Grant shall be construed as giving Grantee the right to be retained in the employ
of, or in any consulting relationship to, or as a director on the Board or board of directors, as
applicable, of, the Company or any Subsidiary or Affiliate of the Company. Further, the Company or
a Subsidiary or Affiliate of the Company may at any time dismiss Grantee from employment or
discontinue any consulting relationship, free from any liability or any claim under the Plan or
this Agreement, unless otherwise expressly provided in the Plan, this Agreement or any applicable
employment contract or agreement. Payment received by Grantee pursuant to this Agreement and the
Notice of Grant shall not be considered salary or other
compensation for purposes of any severance pay or similar allowance and shall not be included in
the determination of benefits under any pension, group insurance or other benefit plan of the
Company or any Subsidiary or Affiliate in which Grantee may be enrolled or provided under the terms
of such plans, or as determined by the Board.

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10 NO STRICT CONSTRUCTION

No rule of strict construction shall be implied against the Company, the Committee, or any other
person in the interpretation of any of the terms of this Agreement, the Notice of Grant or any rule
or procedure established by the Committee.

11 USE OF THE WORD “GRANTEE”

Wherever the word “Grantee” is used in any provision of this Agreement under circumstances where
the provision should logically be construed to apply to the executors, the administrators, or the
person or persons to whom the Restricted Stock Units may be transferred by will or the laws of
descent and distribution, the word “Grantee” shall be deemed to include such person or persons.

12 FURTHER ASSURANCES

Grantee agrees, upon demand of the Company or the Committee, to do all acts and execute, deliver
and perform all additional documents, instruments and agreements which may be reasonably required
by the Company or the Committee, as the case may be, to implement the provisions and purposes of
this Agreement.

13 CONSENT TO TRANSFER PERSONAL DATA

The Company and its Subsidiaries hold certain personal information about Grantee, that may include
Grantee’s name, home address and telephone number, date of birth, social security number or other
employee identification number, salary, nationality, job title, any Shares of stock held in the
Company, or details of any entitlement to Shares of stock awarded, canceled, purchased, vested, or
unvested, for the purpose of implementing, managing, and administering the Award or the Agreement
(“Data”). The Grantee hereby agrees that the Company and/or its Subsidiaries may transfer
Data amongst themselves as necessary for the purpose of implementation, administration, and
management of Grantee’s participation in the Award or the Agreement, and the Company and/or any of
its Subsidiaries may each further transfer Data to any third parties assisting the Company in the
implementation, administration, and management of the Award or the Agreement. These recipients may
be located throughout the world, including outside the Grantee’s country of residence (or outside
of the European Economic Area, for Grantees located within the European Economic Area). Such
countries may not provide for a similar level of data protection as provided for by local law (such
as, for example, European privacy directive 95/46/EC and local implementations thereof). Grantee
hereby authorizes those recipients — even if they are located in a country outside of Grantee’s
country of residence (or outside of the European Economic Area, for Grantees located

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within the European Economic Area) — to receive, possess, use, retain, and transfer the Data, in electronic
or other form, for the purpose of implementing, administering, and managing Grantee’s participation
in the Award or the Agreement, including any requisite transfer of such Data as may be required for
the administration of the Award or the Agreement and/or the subsequent holding of Shares of stock
on Grantee’s behalf by a broker or other third party with whom Grantee or the Company may elect to
deposit any Shares of stock acquired pursuant to the Award or the Agreement. Grantee is not
obliged to consent to such collection, use, processing and transfer of personal data and may, at
any time, review Data, require any necessary amendments to it, or withdraw the consent contained in
this Section by contacting the Company in writing. However, withdrawing or withholding consent may
affect Grantee’s ability to participate in the Award or the Agreement. More information on the
Data and/or the consequences of withholding or withdrawing consent can be obtained from the
Company’s legal department.

14 GOVERNING PLAN DOCUMENT

This Agreement is subject to all the provisions of the Plan, the provisions of which are hereby
made a part of this Agreement, and is further subject to all interpretations, amendments, rules and
regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the
event of any conflict between the provisions of this Agreement and those of the Plan, the
provisions of the Plan control.

15 CERTAIN COUNTRY-SPECIFIC PROVISIONS

For residents of the UK only:

Grantee agrees, as a condition to its acceptance of the Award, to satisfy any requirement of the
Company or any Subsidiary that, prior to vesting of all or any part of the Award, Grantee enter
into a joint election under section 431(1) of the UK Income Tax (Earnings and Pensions) Act 2003,
the effect of which is that the Shares issued on vesting will be treated as if they were not
restricted securities.

Tax withholding obligations under this Agreement shall include, without limitation:

(i) United Kingdom (UK) income tax; and

(ii) UK primary class 1 (employee’s) national insurance contributions.

For residents of Canada only:

I acknowledge having requested that this Agreement and all documents referred to herein be drafted
in the English language. Je reconnais également avoir exigé que ce document ainsi que tout
document auquel ce document fait référence, soient rédigés en langue anglaise.

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Tax withholding obligations under this Agreement shall include federal and provincial income tax,
Canadian Pension Plan contributions, and Employment Insurance premiums (including the provincial
equivalents) as applicable.

For residents of Hong Kong only:

The Data Protection Principles specified in the Personal Data (Privacy) Ordinance (Cap. 486 of the
Laws of Hong Kong will apply to any Data upon its transfer to any place outside of Hong Kong).

For residents of Israel only:

By my signature on this Agreement, I acknowledge that the Award is granted under and governed by
(i) this Agreement, (ii) the Plan, a copy of which has been provided to me or made available for my
review, (iii) the Israeli Supplement (“the Supplement”), a copy of which has been provided to me or
made available for my review; (iv) Section 102(b)(2) of the Income Tax Ordinance (New Version) —
1961 and the Rules promulgated in connection therewith, and (v) the Trust Agreement, a copy of
which has been provided to me or made available for my review. Furthermore, by my signature on
this Agreement, I agree that the Awards will be issued to the Trustee to hold on my behalf,
pursuant to the terms of the Section 102, the Section 102 Rules and the Trust Agreement.

In addition, by my signature on this Agreement, I confirm that I am familiar with the terms and
provisions of Section 102, particularly the Capital Gains Track described in subsection (b)(2)
thereof, and I agree that I will not require the Trustee to release the Awards or Company shares to
me, or to sell the Awards or Company shares to a third party, during the Holding Period, unless
permitted to do so by applicable law.

All capitalized terms in this undertaking shall have the meaning granted to them under the
Supplement.

END OF AGREEMENT 

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EXHIBIT A

Performance Matrix for 20[______] Period

20[__] Units (Target Units for 20[__] Period):                     

Definition of “Revenue” for period (e.g., Consolidated GAAP revenue including/excluding the
following items...):                                         

Target “Revenue” for 20[__] Period: $                                        

	 	 	 	 	 
	 	 	Percent of 20[XX]	 
	Revenue Achieved in 20[XX] Period	 	Units Vesting	 
	Threshold ([__]% of 20[__] Target Revenues)
	 	 	[__]	%
	Target (100% of 20[__] Target Revenues)
	 	 	100	%
	Maximum ([__]% of 20[__] Target Revenues)
	 	 	[__]	%5

 

	 	 	 
	5	 	Not to exceed 200% (i.e., if the Target Number of Units
is 100, the opportunity for additional Units may not exceed 100, for a grand
total of 200 Units). If the Notice of Grant does not make additional units
available for over-performance, replace this line of the table with “Maximum:
Not Applicable”.

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[Appendix A

CERTAIN DEFINITIONS

For purposes of this Agreement, the following terms have the following meanings:]6

[“Cause” as a reason for Grantee’s termination of employment or service shall have the meaning
assigned such term in the employment, severance or similar agreement, if any, between Grantee and
the Company or a Subsidiary or Affiliate of the Company. If Grantee is not a party to an
employment, severance or similar agreement with the Company or a Subsidiary or Affiliate of the
Company in which such term is defined, then “Cause” shall mean Grantee’s: (A) conviction of, or
plea of guilty or nolo contendere to, a felony or indictment for a crime involving dishonesty,
fraud or moral turpitude; (B) willful and intentional breach of Grantee’s obligations to the
Company or a Subsidiary or Affiliate of the Company; (C) willful misconduct, or any dishonest or
fraudulent act or omission; (D) violation of any securities or financial reporting laws, rules or
regulations or any policy of the Company or a Subsidiary or Affiliate of the Company relating to
the foregoing; (E) violation of the policies of the Company or a Subsidiary or Affiliate of the
Company on harassment, discrimination or substance abuse; or (F) gross negligence, gross neglect of
duties or gross insubordination in Grantee’s performance of duties with the Company or a Subsidiary
or Affiliate of the Company.]7

[“Continuous Service” means that the provision of services to the Company or a Subsidiary or
Affiliate in any capacity of employee, director or consultant is not interrupted or terminated. In
jurisdictions requiring notice in advance of an effective termination as an employee, director or
consultant, Continuous Service shall be deemed terminated upon the actual cessation of providing
services to the Company or a Subsidiary or Affiliate notwithstanding any required notice period
that must be fulfilled before a termination as an employee, director or consultant can be effective
under applicable labor laws. Continuous Service shall not be considered interrupted in the case of
(i) any approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate,
or any successor, in any capacity of employee, director or consultant, or (iii) any change in
status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate
in any capacity of employee, director or consultant. An approved leave of absence shall include
sick leave, military leave, or any other authorized personal leave.] 8

[“Share” means the common stock of the Company, par value $.001 per share, or such other class or
kind of shares or other securities resulting from the adjustment application under the
Plan.]9

 

	 	 	 
	6	 	Include for grants under the 1996 and 2004 plans.
	 
	7	 	Include for grants under the 1996 and 2004 plans.
	 
	8	 	Include for grants under the 1996 plan.
	 
	9	 	Include for grants under the 1996 and 2004 plans.

Universal Performance-Based RSU Form (2011)

 

15

 

[“Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations
beginning with the Company (or any subsequent parent of the Company) if each of the corporations
other than the last corporation in the unbroken chain owns stock possessing 50% or more of the
total combined voting power of all classes of stock in one of the other corporations in such
chain.] 10

 

	 	 	 
	10	 	Include for grants under the 1996 plan.

Universal Performance-Based RSU Form (2011)

 

16Exhibit 10.29

Exhibit 10.29

___________ __, 20__

[Name of Recipient]

[Address]

Notice of Grant of Restricted Stock Units

Dear [Name]:

Congratulations! You have been granted a Restricted Stock Unit award (the “Award”) pursuant
to the terms and conditions of the Verint Systems Inc. (the “Company”) [Stock Incentive
Compensation Plan][2004 Stock Incentive Compensation Plan][2010 Long-Term Stock Incentive Plan][,
as modified by the [UK Sub-Plan thereunder][Canadian Sub-Plan thereunder][Israeli Supplement
thereto],] (the “Plan”) and the attached Verint Systems Inc. Restricted Stock Unit Award Agreement
(the “Agreement”). The details of your Award are specified below and in the attached Agreement.

	 	 	 	 	 
	 

	 	Granted To:
	 	[Name]
	 

	 	ID#:
	 	[ID Number]
	 
	 	 	 	 
	 

	 	Grant Date:
	 	[___________]
	 
	 	 	 	 
	 

	 	Units Granted:
	 	[Number]
	 
	 	 	 	 
	 

	 	Price Per Unit:
	 	U.S.$0.00
	 
	 	 	 	 
	 

	 	Vesting Schedule:	 	 
	 

	 	 	 	The Restricted Stock Units granted hereby shall vest on
each of the following dates:
	 
	 	 	 	 
	 

	 	 	 	(a) [___________];
	 

	 	 	 	(b) [___________]; and
	 

	 	 	 	(c) [___________].

	 	 	 	 	 
	 	Verint Systems Inc.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Universal Time-Based RSU Form (2011)

 

 

 

By my signature below, I hereby acknowledge my receipt of this Award granted on the date shown
above, which has been issued to me under the terms and conditions of the Plan and the Agreement. I
agree that the Award is subject to all of the terms and conditions of this Notice of Grant of
Restricted Stock Units, the Plan, and the Agreement.

If I am a resident of Canada, I also acknowledge having requested that this Notice and all
documents referred to herein be drafted in the English language. Je reconnais également avoir
exigé que ce document ainsi que tout document auquel ce document fait référence, soient rédigés en
langue anglaise.

Signature:                                                                       
 Date:                     

Universal Time-Based RSU Form (2011)

 

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VERINT SYSTEMS INC.

RESTRICTED STOCK UNIT AWARD AGREEMENT

This Restricted Stock Unit Award Agreement (“Agreement”) and the Verint Systems Inc.
[Stock Incentive Compensation Plan][2004 Stock Incentive Compensation Plan][2010 Long-Term Stock
Incentive Plan][, as modified by the [UK Sub-Plan thereunder][Canadian Sub-Plan thereunder][Israeli
Supplement thereto],] (the “Plan”) govern the terms and conditions of the Restricted Stock
Unit Award (the “Award”) specified in the Notice of Grant of Restricted Stock Units (the
“Notice of Grant”) delivered herewith entitling the person to whom the Notice of Grant is
addressed (“Grantee”) to receive from Verint Systems Inc. (the “Company”) the
number of restricted stock units indicated in the Notice of Grant (the “Restricted Stock
Units”).

	1	 	RESTRICTED STOCK UNITS; VESTING

	1.1	 	Grant of Restricted Stock Units.

	(a)	 	The Award of the Restricted Stock Units is made subject to the terms and conditions of the
Plan, this Agreement and the Notice of Grant. If and when the Restricted Stock Units vest in
accordance with the terms of the Plan, this Agreement and the Notice of Grant without
forfeiture, and upon the satisfaction of all other applicable conditions as to the Restricted
Stock Units, one Share shall be issuable to Grantee for each Restricted Stock Unit that vests
on such date, which Shares, except as otherwise provided herein or in the Notice of Grant,
will be free of any Company-imposed transfer restrictions. Any fractional Restricted Stock
Unit remaining after the Award is fully vested shall be discarded and shall not be converted
into a fractional Share.

	1.2	 	Restrictions.

	(a)	 	Except as provided herein, Grantee shall not have any rights as a stockholder with respect to
any Shares to be distributed under the Plan until he or she has become the holder of such
Shares as provided in the Plan.

	(b)	 	The Award is subject to the transferability restrictions under the Plan.

	1.3	 	Vesting.

	(a)	 	Subject to the terms and conditions of this Agreement, the applicable percentage or fraction
(per the Notice of Grant) of Restricted Stock Units awarded hereunder shall be deemed vested
and no longer subject to forfeiture under this Agreement on the applicable vesting date in
accordance with the schedule set forth in the Notice of Grant.

	(b)	 	Vesting shall cease upon the date Grantee’s Continuous Service terminates for any reason,
unless otherwise determined by the Board or the Committee in its sole discretion.

Universal Time-Based RSU Form (2011)

 

3

 

	1.4	 	Forfeiture.

	(a)	 	If Grantee’s Continuous Service terminates for any reason, all Restricted Stock Units which
are then unvested shall, unless otherwise determined by the Committee in its sole discretion,
be cancelled and the Company shall thereupon have no further obligation thereunder. For the
avoidance of doubt, subject to a separate written agreement between the parties, Grantee
acknowledges and agrees that he or she has no expectation that any Restricted Stock Units will
vest on the termination of his or her Continuous Service for any reason and that he or she
will not be entitled to make a claim for any loss occasioned by such forfeiture as part of any
claim for breach of his or her employment or service contract or otherwise.
	 
	1.5	 	Delivery.

	(a)	 	Subject to Section 1.6 and any other applicable conditions hereunder, as soon as
administratively practicable following the vesting of Restricted Stock Units in accordance
with the terms of this Agreement (but in no event later than the date the short-term deferral
period under Section 409A of the Code expires with respect to such vested Shares), the Company
shall issue the applicable Shares and, at its option, (i) deliver or cause to be delivered to
Grantee a certificate or certificates for the applicable Shares or (ii) transfer or arrange to
have transferred the Shares to a brokerage account of Grantee designated by the Company.

	(b)	 	Notwithstanding the foregoing, the issuance of Shares upon the vesting of a Restricted Stock
Unit shall be delayed in the event the Company reasonably anticipates that the issuance of
Shares would constitute a violation of U.S. federal securities laws, other applicable law, or
Nasdaq rules. If the issuance of the Shares is delayed by the provisions of this paragraph,
such issuance shall occur at the earliest date at which the Company reasonably anticipates
issuing the Shares will not cause such a violation. For purposes of this paragraph, the
issuance of Shares that would cause inclusion in gross income or the application of any
penalty provision or other provision of the Code or other tax legislation applicable to
Grantee is not considered a violation of applicable law.
	 
	1.6	 	Tax; Withholding.

	(a)	 	The Company shall determine the amount of any withholding or other tax required by law to be
withheld or paid by the Company or its Subsidiary with respect to any income recognized by
Grantee with respect to the Restricted Stock Units or the issuance of Shares pursuant to the
terms of the Restricted Stock Units.

Universal Time-Based RSU Form (2011)

 

4

 

	(b)	 	Neither the Company nor any Subsidiary, Affiliate or agent makes any representation or
undertaking regarding the treatment of any tax or withholding in connection with the grant or
vesting of the Award or the subsequent sale of Shares subject to the Award. The Company and
its Subsidiaries and Affiliates do not commit and are under no obligation to structure the
Award to reduce or eliminate Grantee’s tax liability.
	 
	(c)	 	Notwithstanding the withholding provision in the Plan:

	 	(i)	 	If in the tax jurisdiction in which Grantee resides a tax withholding
obligation arises upon vesting of the Award (regardless of when the Shares underlying
the Award are delivered to Grantee), then on each date the Award actually vests, if
(1) the Company does not have in place an effective registration statement under the
Securities Act of 1933, as amended (the “Securities Act”) under which Grantee may sell
Shares or (2) Grantee is subject to a Company-imposed trading blackout, unless Grantee
has made other arrangements satisfactory to the Company, the Company will withhold
from the Shares to be delivered to Grantee such number of Shares as are sufficient in
value (as determined by the Committee in its sole discretion) to cover the minimum
amount of the tax withholding obligation.

	 	(ii)	 	If in the tax jurisdiction in which Grantee resides a tax withholding
obligation arises upon delivery of the Shares underlying the Restricted Stock Units
(regardless of when vesting occurs), then following each date the Award actually
vests, the Company will defer the delivery of the Shares otherwise deliverable to
Grantee until the earliest of (1) the date Grantee’s employment with the Company (or a
Subsidiary or Affiliate) is terminated (by either party), (2) the date that the
short-term deferral period under Section 409A of the Code expires with respect to such
vested Shares, or (3) the date on which the Company has in place an effective
registration statement under the Securities Act under which Grantee may sell Shares
and on which Grantee is not subject to a Company-imposed trading blackout (the
earliest of such dates, the “Delivery Date”). If on the Delivery Date (1) the Company
does not have in place an effective registration statement under the Securities Act
under which Grantee may sell Shares or (2) Grantee is subject to a Company-imposed
trading blackout, unless Grantee has made other arrangements satisfactory to the
Company, the Company will withhold from the Shares to be delivered to Grantee such
number of Shares as are sufficient in value (as determined by the Committee in its
sole discretion) to cover the minimum amount of the tax withholding obligation.

Universal Time-Based RSU Form (2011)

 

5

 

	(d)	 	Grantee is ultimately liable and responsible for all taxes owed by Grantee in connection with
the Award, regardless of any action the Company or any of its Subsidiaries, Affiliates or
agents takes with respect to any tax withholding
obligations that arise in connection with the Award. Accordingly, Grantee agrees to pay to
the Company or its relevant Subsidiary or Affiliate as soon as practicable, including
through additional payroll withholding (if permitted under applicable law), any amount of
required tax withholding that is not satisfied by any such action of the Company or its
Subsidiary or Affiliate.

	(e)	 	The Committee shall be authorized, in its sole discretion, to establish such rules and
procedures relating to the use of Shares of common stock to satisfy tax withholding
obligations as it deems necessary or appropriate to facilitate and promote the conformity of
Grantee’s transactions under this Agreement with Rule 16b-3 under the Securities Exchange Act
of 1934, as amended, if such rule is applicable to transactions by Grantee.

1.7 Detrimental Activity. In the event the Committee determines or discovers during or
after the course of Grantee’s employment that Grantee committed an act during the course of
employment that constitutes or would have constituted Cause for termination, the Committee shall
have the right to cancel any or all of Grantee’s then outstanding Awards (whether or not vested).

2 CERTAIN DEFINITIONS

Defined terms not defined in this Agreement but defined in the Plan shall have the same definitions
as in the Plan [and Appendix A].1

3 REPRESENTATIONS OF GRANTEE

Grantee hereby represents to the Company that Grantee has read and fully understands the provisions
of this Agreement, and Grantee acknowledges that Grantee is relying solely on his or her own
advisors with respect to the tax consequences of this Award. Grantee acknowledges that this
Agreement has not been reviewed or approved by any regulatory authority in his or her country of
residence or otherwise.

 

	 	 	 
	1	 	Include for grants under the 1996 and 2004 plans.

Universal Time-Based RSU Form (2011)

 

6

 

4 NOTICES

All notices or communications under this Agreement shall be in writing, addressed as follows:

To the Company:

Verint Systems Inc.

330 South Service Road

Melville, NY 11747-3201

U.S.A.

+(631) 962-9600 (phone)

+(631) 962-9623 (fax)

Attn: Chief Legal Officer

To Grantee:

as set forth in the Company’s payroll
records

Any such notice or communication shall be (a) delivered by hand (with written confirmation of
receipt) or sent by a nationally recognized overnight delivery service (receipt requested) or (b)
sent certified or registered mail, return receipt requested, postage prepaid, addressed as above
(or to such other address as such party may designate in writing from time to time), and the actual
date of receipt shall determine the time at which notice was given. Grantee will promptly notify
the Company in writing upon any change in Grantee’s mailing address or e-mail address.

5 BINDING AGREEMENT

This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of
Grantee and the assigns and successors of the Company.

6 ENTIRE AGREEMENT; AMENDMENT

The Plan, this Agreement and the Notice of Grant represent the entire agreement of the parties with
respect to the subject matter hereof. The Committee may waive any conditions or rights under,
amend any terms of, or alter, suspend, discontinue, cancel or terminate, the Award; provided that
any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination
that would impair the rights of Grantee or any holder or beneficiary of the Award previously
granted shall not be effective as to the Grantee without the written consent of Grantee, holder or
beneficiary, further, provided, that the consent of Grantee or any holder or beneficiary shall not
be required to an amendment that is deemed necessary by the Company to ensure compliance with (a)
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any regulations promulgated
thereunder, including as a result of the implementation of any recoupment policy the Company adopts
to comply with the requirements set forth in the Dodd-Frank Act and (b) Section 409A of the Code as
amplified by any Internal Revenue Service or
U.S. Treasury Department regulations or guidance, or any other applicable equivalent tax law, rule,
or regulation, as the Company deems appropriate or advisable.

Universal Time-Based RSU Form (2011)

 

7

 

7 GOVERNING LAW

The rules and regulations relating to this Agreement shall be determined in accordance with the
laws of the State of New York, applied without giving effect to its conflict of laws principles.
Each party to this Agreement hereby consents and submits himself, herself or itself to the
jurisdiction of the courts of the state of New York for the purposes of any legal action or
proceeding arising out of this Agreement. Nothing in this Agreement shall affect the right of the
Company to commence proceedings against the Grantee in any other competent jurisdiction, or
concurrently in more than one jurisdiction, or to serve process, pleadings and other papers upon
the Grantee in any manner authorized by the laws of any such jurisdiction. The Grantee irrevocably
waives:

(a) any objection which it may have now or in the future to the laying of the venue of any
action, suit or proceeding in any court referred to in this Section; and

(b) any claim that any such action, suit or proceeding has been brought in an inconvenient
forum.

8 SEVERABILITY

If any provision of this Agreement is or becomes or is deemed to be invalid, illegal or
unenforceable in any jurisdiction or as to any person or this Agreement, or would disqualify this
Agreement under any law deemed applicable by the Committee, such provision shall be construed or
deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended
without, in the determination of the Committee, materially altering the intent of this Agreement,
such provision shall be stricken as to such jurisdiction, person or this Agreement and the
remainder of this Agreement shall remain in full force and effect.

9 ONE-TIME GRANT; NO RIGHT TO CONTINUED SERVICE OR PARTICIPATION; EFFECT ON OTHER PLANS

The award evidenced by this Agreement is a voluntary, discretionary bonus being made on a one-time
basis and it does not constitute a commitment to make any future awards. Neither this Agreement
nor the Notice of Grant shall be construed as giving Grantee the right to be retained in the employ
of, or in any consulting relationship to, or as a director on the Board or board of directors, as
applicable, of, the Company or any Subsidiary or Affiliate of the Company. Further, the Company or
a Subsidiary or Affiliate of the Company may at any time dismiss Grantee from employment or
discontinue any consulting relationship, free from any liability or any claim under the Plan or
this Agreement, unless otherwise expressly provided in the Plan, this Agreement or any applicable
employment contract or agreement. Payment received by Grantee pursuant to this Agreement and the
Notice of Grant shall not be considered salary or other
compensation for purposes of any severance pay or similar allowance and shall not be included in
the determination of benefits under any pension, group insurance or other benefit plan of the
Company or any Subsidiary or Affiliate in which Grantee may be enrolled or provided under the terms
of such plans, or as determined by the Board.

Universal Time-Based RSU Form (2011)

 

8

 

10 NO STRICT CONSTRUCTION

No rule of strict construction shall be implied against the Company, the Committee, or any other
person in the interpretation of any of the terms of this Agreement, the Notice of Grant or any rule
or procedure established by the Committee.

11 USE OF THE WORD “GRANTEE”

Wherever the word “Grantee” is used in any provision of this Agreement under circumstances where
the provision should logically be construed to apply to the executors, the administrators, or the
person or persons to whom the Restricted Stock Units may be transferred by will or the laws of
descent and distribution, the word “Grantee” shall be deemed to include such person or persons.

12 FURTHER ASSURANCES

Grantee agrees, upon demand of the Company or the Committee, to do all acts and execute, deliver
and perform all additional documents, instruments and agreements which may be reasonably required
by the Company or the Committee, as the case may be, to implement the provisions and purposes of
this Agreement.

13 CONSENT TO TRANSFER PERSONAL DATA

The Company and its Subsidiaries hold certain personal information about Grantee, that may include
Grantee’s name, home address and telephone number, date of birth, social security number or other
employee identification number, salary, nationality, job title, any Shares of stock held in the
Company, or details of any entitlement to Shares of stock awarded, canceled, purchased, vested, or
unvested, for the purpose of implementing, managing, and administering the Award or the Agreement
(“Data”). The Grantee hereby agrees that the Company and/or its Subsidiaries may transfer
Data amongst themselves as necessary for the purpose of implementation, administration, and
management of Grantee’s participation in the Award or the Agreement, and the Company and/or any of
its Subsidiaries may each further transfer Data to any third parties assisting the Company in the
implementation, administration, and management of the Award or the Agreement. These recipients may
be located throughout the world, including outside the Grantee’s country of residence (or outside
of the European Economic Area, for Grantees located within the European Economic Area). Such
countries may not provide for a similar level of data protection as provided for by local law (such
as, for example, European privacy directive 95/46/EC and local implementations thereof). Grantee
hereby authorizes those recipients — even if they are located in a country outside of Grantee’s
country of residence (or outside of the European Economic Area, for Grantees located

Universal Time-Based RSU Form (2011)

 

9

 

within the European Economic Area) — to receive, possess, use, retain, and transfer the Data, in electronic
or other form, for the purpose of implementing, administering, and managing Grantee’s participation
in the Award or the Agreement, including any requisite transfer of such Data as may be required for
the administration of the Award or the Agreement and/or the subsequent holding of Shares of stock
on Grantee’s behalf by a broker or other third party with whom Grantee or the Company may elect to
deposit any Shares of stock acquired pursuant to the Award or the Agreement. Grantee is not
obliged to consent to such collection, use, processing and transfer of personal data and may, at
any time, review Data, require any necessary amendments to it, or withdraw the consent contained in
this Section by contacting the Company in writing. However, withdrawing or withholding consent may
affect Grantee’s ability to participate in the Award or the Agreement. More information on the
Data and/or the consequences of withholding or withdrawing consent can be obtained from the
Company’s legal department.

14 GOVERNING PLAN DOCUMENT

This Agreement is subject to all the provisions of the Plan, the provisions of which are hereby
made a part of this Agreement, and is further subject to all interpretations, amendments, rules and
regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the
event of any conflict between the provisions of this Agreement and those of the Plan, the
provisions of the Plan control.

15 CERTAIN COUNTRY-SPECIFIC PROVISIONS

For residents of the UK only:

Grantee agrees, as a condition to its acceptance of the Award, to satisfy any requirement of the
Company or any Subsidiary that, prior to vesting of all or any part of the Award, Grantee enter
into a joint election under section 431(1) of the UK Income Tax (Earnings and Pensions) Act 2003,
the effect of which is that the Shares issued on vesting will be treated as if they were not
restricted securities.

Tax withholding obligations under this Agreement shall include, without limitation:

(i) United Kingdom (UK) income tax; and

(ii) UK primary class 1 (employee’s) national insurance contributions.

For residents of Canada only:

I acknowledge having requested that this Agreement and all documents referred to herein be drafted
in the English language. Je reconnais également avoir exigé que ce document ainsi que tout
document auquel ce document fait référence, soient rédigés en langue anglaise.

Universal Time-Based RSU Form (2011)

 

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Tax withholding obligations under this Agreement shall include federal and provincial income tax,
Canadian Pension Plan contributions, and Employment Insurance premiums (including the provincial
equivalents) as applicable.

For residents of Hong Kong only:

The Data Protection Principles specified in the Personal Data (Privacy) Ordinance (Cap. 486 of the
Laws of Hong Kong will apply to any Data upon its transfer to any place outside of Hong Kong).

For residents of Israel only:

By my signature on this Agreement, I acknowledge that the Award is granted under and governed by
(i) this Agreement, (ii) the Plan, a copy of which has been provided to me or made available for my
review, (iii) the Israeli Supplement (“the Supplement”), a copy of which has been provided to me or
made available for my review; (iv) Section 102(b)(2) of the Income Tax Ordinance (New Version) —
1961 and the Rules promulgated in connection therewith, and (v) the Trust Agreement, a copy of
which has been provided to me or made available for my review. Furthermore, by my signature on
this Agreement, I agree that the Awards will be issued to the Trustee to hold on my behalf,
pursuant to the terms of the Section 102, the Section 102 Rules and the Trust Agreement.

In addition, by my signature on this Agreement, I confirm that I am familiar with the terms and
provisions of Section 102, particularly the Capital Gains Track described in subsection (b)(2)
thereof, and I agree that I will not require the Trustee to release the Awards or Company shares to
me, or to sell the Awards or Company shares to a third party, during the Holding Period, unless
permitted to do so by applicable law.

All capitalized terms in this undertaking shall have the meaning granted to them under the
Supplement.

END OF AGREEMENT

Universal Time-Based RSU Form (2011)

 

11

 

[Appendix A

CERTAIN DEFINITIONS

For purposes of this Agreement, the following terms have the following meanings:]2

[“Cause” as a reason for Grantee’s termination of employment or service shall have the meaning
assigned such term in the employment, severance or similar agreement, if any, between Grantee and
the Company or a Subsidiary or Affiliate of the Company. If Grantee is not a party to an
employment, severance or similar agreement with the Company or a Subsidiary or Affiliate of the
Company in which such term is defined, then “Cause” shall mean Grantee’s: (A) conviction of, or
plea of guilty or nolo contendere to, a felony or indictment for a crime involving dishonesty,
fraud or moral turpitude; (B) willful and intentional breach of Grantee’s obligations to the
Company or a Subsidiary or Affiliate of the Company; (C) willful misconduct, or any dishonest or
fraudulent act or omission; (D) violation of any securities or financial reporting laws, rules or
regulations or any policy of the Company or a Subsidiary or Affiliate of the Company relating to
the foregoing; (E) violation of the policies of the Company or a Subsidiary or Affiliate of the
Company on harassment, discrimination or substance abuse; or (F) gross negligence, gross neglect of
duties or gross insubordination in Grantee’s performance of duties with the Company or a Subsidiary
or Affiliate of the Company.]3

[“Continuous Service” means that the provision of services to the Company or a Subsidiary or
Affiliate in any capacity of employee, director or consultant is not interrupted or terminated. In
jurisdictions requiring notice in advance of an effective termination as an employee, director or
consultant, Continuous Service shall be deemed terminated upon the actual cessation of providing
services to the Company or a Subsidiary or Affiliate notwithstanding any required notice period
that must be fulfilled before a termination as an employee, director or consultant can be effective
under applicable labor laws. Continuous Service shall not be considered interrupted in the case of
(i) any approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate,
or any successor, in any capacity of employee, director or consultant, or (iii) any change in
status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate
in any capacity of employee, director or consultant. An approved leave of absence shall include
sick leave, military leave, or any other authorized personal leave.] 4

[“Share” means the common stock of the Company, par value $.001 per share, or such other class or
kind of shares or other securities resulting from the adjustment application under the
Plan.]5

 

	 	 	 
	2	 	Include for grants under the 1996 and 2004 plans.
	 
	3	 	Include for grants under the 1996 and 2004 plans.
	 
	4	 	Include for grants under the 1996 plan.
	 
	5	 	Include for grants under the 1996 and 2004 plans.

Universal Time-Based RSU Form (2011)

 

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[“Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations
beginning with the Company (or any subsequent parent of the Company) if each of the corporations
other than the last corporation in the unbroken chain owns stock possessing 50% or more of the
total combined voting power of all classes of stock in one of the other corporations in such
chain.]6

 

	 	 	 
	6	 	Include for grants under the 1996 plan.

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