Document:

Exhibit

Exhibit 10.2

Personal – Confidential 

Amended and Restated
Appendix to Employment Agreement 
Between 
Verint Systems Ltd. 
(the “Company”)
and 
Name: Hanan Gino ID Number: 056025075
(“You”)

		
	WHEREAS  
	You signed an Employment Letter Agreement with the Company dated January 1, 2013 and amended and restated as of May 26, 2015 (the “Employment Agreement”); and 

		
	WHEREAS  
	The Company perceives you to be a Key Employee who provides significant benefit to the Company; and

		
	WHEREAS
	The Company entered into an Appendix to your Employment Agreement with you dated January 17, 2013 (the “Appendix”) to provide you with certain special rights and benefits; and 

		
	WHEREAS 
	The Company and you wish to amend and restate the terms of the Appendix. 

THEREFORE in consideration of this preamble, the parties hereby agree, and amend and restate the Appendix in its entirety, as follows:

		
	1.
	Except as specifically included herein, all terms and conditions of your Employment Agreement will continue to apply to you. Unless specially stated in this Appendix, all definition of terms as stated in the Employment Agreement will apply for this Appendix as well.

		
	2.
	Separation Bonus for Unfair Termination. In the event that your employment is terminated by the Company for any reason other than (1) “Cause” (as defined below), (2) death, or (3) disability, or is terminated by you for “Good Reason” (as defined below), you shall be entitled to a separation bonus equal to 9 months’ salary, based on your last monthly salary (or if higher, your monthly salary as of the date immediately prior to the first event or circumstance constituting “Good Reason” in connection with such departure).  In order to avoid any doubt, such separation bonus shall not include social benefits, car allowance, telephone allowance etc., but rather the base salary only. 

“Cause” shall mean:

		
	i.
	conviction of, or plea of guilty or no contest to, a crime which is punishable by more than one year in prison;

		
	ii.
	an indictment for a crime involving dishonesty or fraud;

		
	iii.
	willful and intentional breach by you of your obligations to the Company or of your Employment Agreement or this Appendix which is materially harmful to the Company;

		
	iv.
	willful misconduct, or any dishonest or fraudulent act or omission, which is materially harmful to the Company;

		
	v.
	a violation of any U.S. or Israeli securities or financial reporting laws, rules or regulations, or any policy of the Company or Verint Systems Inc. (“VSI”) relating to the foregoing;

		
	vi.
	violation of the Company’s policies on harassment, discrimination or substance abuse;

		
	vii.
	your gross negligence, gross neglect of duties or gross insubordination; or

		
	viii.
	any other reason which would generally lead to a denial of severance under Israeli law,

but, in the case of clauses (iii), (iv), (vii), or (viii), if such conduct is capable of being cured, such conduct will only be considered Cause if the Company has first notified you in writing of such circumstance and you have failed to cure it within 15 days of receiving such notice.
“Good Reason” shall mean:
		
	i.
	a material reduction in your salary;

		
	ii.
	a material reduction in your duties, position or reporting status; or

		
	iii.
	the assignment to you of duties materially inconsistent with your position or a materially adverse alteration in the nature of your duties and/or responsibilities, reporting obligations, titles or authority, provided, however, that Good Reason shall not exist where such an assignment or alteration is due solely to VSI ceasing to be an issuer of registered securities,

but only if you have notified the Company in writing that you believe a Good Reason event has occurred within 90 days of becoming aware of such event, and the Company fails to cure such issue within 30 days of receiving your written notice.

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	3.
	Separation Bonus for Termination upon Death. In the event your employment ends due to your death, your estate shall be entitled to a separation bonus, payable in a lump sum, equal to a pro rata portion of your target bonus that you would have been entitled to receive pursuant to your signed bonus plan in such year (if such year had been completed) based upon the percentage of the fiscal year that shall have elapsed and, to the extent relevant to the calculation of your bonus, assuming that VSI’s and the Company’s actual performance were annualized through the end of such year.

		
	4.
	Separation Bonus for Termination upon Disability.  In the event your employment ends due to your disability which prevents you from performing the services required by your Employment Agreement (based on objective evidence), you shall be entitled to a separation bonus equal to 6 months’ salary (minus any advance notice the Company is required to give you in the event of such a termination for disability), based on your last salary, in addition to any entitlement that you may be entitled to under applicable law. In order to avoid any doubt, such payment shall not include social benefits, car allowance, telephone allowance etc., but rather the base salary only.

		
	5.
	For the avoidance of doubt, (i) in no event will you qualify for more than one of the separation bonuses above and (ii) any bonus payment under Section 2, 3, or 4 shall supersede and replace any severance or redundancy payments under local Company policy or practice that you might otherwise be eligible to receive. Except as otherwise provided above, any separation bonus to which you become entitled hereunder may be paid to you in equal monthly installments over a period of 12 months, at the Company’s exclusive discretion.  

		
	6.
	Clawback.  Notwithstanding anything to the contrary, if VSI’s financial statements for the year ended January 31, 2014 or thereafter are restated due to material noncompliance, as a result of your misconduct, with any financial reporting requirement under the U.S. securities laws applicable to such fiscal year, you shall, at the request of the Compensation Committee of the Board of VSI (“Committee”), and without making any claim for compensation in respect thereof, return or forfeit, as applicable, all or a portion (but no more than 100%) of any bonus (including separation bonuses under this Appendix) or any incentive award (including equity awards) made to you during your employment with the Company as incentive for the specific fiscal year or years (in the case of equity awards granted during  your employment with the Company, the portion of the award vested during such fiscal year or years) required to be restated for the year ended January 31, 2014 or thereafter.  For example, if you are granted an award in the year ended January 31, 2014 (and during your employment with the Company) that vests in installments based on performance in the years ended January 31, 2015 and January 31, 2016, and VSI’s financial statements for the year ended January 31, 2015 are required, as a result of your misconduct, to be restated due to material noncompliance with any financial reporting requirements as set forth above, the portion of the award which vests in the year ended January 31, 2015 based on achievement of the performance targets for the year ended January 31, 2015 shall be subject to clawback in accordance with this Section, but the portion of the award which vests in the year ended January 31, 2016 shall not be subject to forfeiture or clawback.  Or, if based on the same 

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facts as set forth in the preceding sentence, you are paid a bonus in the year ended January 31, 2016 for performance in the year ended January 31, 2015, such bonus shall be subject to clawback in accordance with this Section, but not any bonus paid for any other fiscal year.  The amount to be recovered from you shall be the amount by which the bonus or incentive compensation award exceeded the amount that would have been payable to you had the financial statements been initially filed as restated (including, but not limited to, the entire award), as reasonably determined by the Committee.  

		
	7.
	Covenants.  The terms of this Appendix are specifically and explicitly contingent upon the following undertakings made by you (and you acknowledge and agree that these undertakings (i) are reasonable and necessary in light of your fiduciary relationship with the Company, your access to the confidential information of the Company and its affiliates, and your exposure, in an extensive and in-depth manner, to the trade, professional, and technological secrets of the Company and its affiliates in the past and in the present, and to its long-term plans and strategies, and (ii) do not unreasonably restrict your freedom of employment and livelihood): 

		
	a.
	you shall comply with the provisions of your Employment Agreement, including the Statement of Undertaking, dated May 26, 2015, undertaken by you to the Company; 

		
	b.
	for a period of two years following the termination of your employment (by either party and for any reason), you shall not, whether on your own behalf or on behalf or in conjunction with any other person, directly or indirectly: (i) solicit customers, business, patronage or orders for, or sell, any products and services in competition with the Company’s business; or (ii) perform the same or substantially similar services for a competitor of the Company as you have performed for the Company.  For the purposes of this paragraph, “the Company’s business” will be defined as the development, manufacture, marketing, support, and/or sales of products or services that are competitive with the products or services offered by the Company or its affiliates on the date hereof or with any new lines of business of the Company or its affiliates during the term of your employment; and

		
	c.
	during your employment with the Company and for a two year period thereafter, you shall not, unless otherwise required by law, directly or indirectly, make or cause to be made any statements to any third parties criticizing or disparaging the Company (including its directors, officers, predecessors, parents, subsidiaries, divisions, and related or affiliated companies) or comment on its character or business reputation. 

In order to avoid any doubt, full compliance by you with these provisions is a pre-requisite to entitle you to the benefits set forth herein and noncompliance therewith requires, as a minimum, that you refund any payments received pursuant to this Appendix to the Company.  To the extent the duration or scope of the foregoing undertakings are found to be invalid under applicable law, the parties agree to instead substitute the maximum period or scope that is legally enforceable. 

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	8.
	Indemnification.  The Company hereby undertakes to indemnify you in the event a claim is made against you, further to your activities performed for the Company, subject to the provisions and limitations of the Israeli Companies Law and the Company’s Articles of Association. Furthermore, the Company hereby confirms that it has directors and officers (D&O) insurance in effect and will maintain such insurance. 

		
	9.
	Release.  You hereby agree upon your termination to sign a release document as per the Company’s form which shall release and forever discharge the Company, its affiliates, its officers, directors, shareholders, employees, agents and all persons, firms, entities, associations and/or corporation connected with it, who were, are, or may be liable to you, of and from any and all claims, demands, counts, causes of action, obligations, taxes, damages, losses, costs and/or expenses of any kind (including attorneys’ fees), known and unknown, suspected or unsuspected, fixed or contingent, which you may have had, now have, or may hereafter have against the Company or such other releasees, by reason of any matter, cause, or thing directly or indirectly arising out of and/or connected with and/or related to your employment, your Employment Agreement, or this Appendix.  If the release has not been executed and delivered to the Company within 60 calendar days following your termination, the Company will cease to have any obligations to make any payments or provide any benefits under this Appendix.

		
	10.
	Assignment of Intellectual Property

		
	a.
	You agree that upon conception and/or development of any idea, discovery, invention, improvement, software, writing or other material or design that: (i) relates to the business of the Company or any affiliate, or (ii) relates to the Company’s or any affiliate’s actual or demonstrably anticipated research or development, or (iii) results from any work performed by you for the Company or any affiliate, you will assign to the Company (or its designee) the entire right, title and interest in and to any such idea, discovery, invention, improvement, software, writing or other material or design.

		
	b.
	You have no obligation to assign any idea, discovery, invention, improvement, software, writing or other material or design that you conceive and/or develop entirely on your own time without using the Company’s or its affiliates’ equipment, supplies, facilities, or trade secret information unless the idea, discovery, invention, improvement, software, writing or other material or design either: (i) relates to the business of the Company or any affiliate, or (ii) relates to the Company’s or any affiliate’s actual or demonstrably anticipated research or development, or (iii) results from any work performed by you for the Company or any affiliate.

		
	c.
	You agree that any idea, discovery, invention, improvement, software, writing or other material or design that relates to the business of the Company or any affiliate or relates to the Company’s or any affiliate’s actual or demonstrably anticipated research or development which is conceived or suggested by you, either solely or jointly with others, within one year following termination of your employment shall be presumed to have been so made, conceived or suggested in the course of such employment with the use of the Company’s 

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equipment, supplies, facilities, and/or trade secrets unless you can conclusively prove otherwise.

		
	d.
	In order to determine the rights of you and the Company in any idea, discovery, invention, improvement, software, writing or other material, and to ensure the protection of the same, you agree that during your employment, and for one year after termination of your employment, you will disclose immediately and fully to the Company any idea, discovery, invention, improvement, software, writing or other material or design conceived, made or developed by you solely or jointly with others.  The Company agrees to keep any such disclosures confidential.  You also agree to record descriptions of all work in the manner directed by the Company and agree that all such records and copies, samples and experimental materials will be the exclusive property of the Company.

		
	e.
	You agree that at the request of and without charge to the Company, but at the Company's expense, you will execute a written assignment of the idea, discovery, invention, improvement, software, writing or other material or design to the Company (or its designee) and will assign to the Company (or its designee) any application for letters patent or for trademark registration made thereon, and to any common-law or statutory copyright therein; and that you will do whatever may be necessary or desirable to enable the Company (or its designee) to secure any patent, trademark, copyright, or other property right therein in the United States, Israel, and in any foreign country, and any division, renewal, continuation, or continuation in part thereof, or for any reissue of any patent issued thereon.

		
	f.
	In the event the Company is unable, after reasonable effort, and in any event after 10 business days of exerting such reasonable efforts, to secure your signature on a written assignment to the Company of any application for letters patent or to any common-law or statutory copyright or other property right therein, whether because of your physical or mental incapacity or for any other reason whatsoever, you irrevocably designate and appoint the Chief Legal Officer and/or General Counsel of VSI as your attorney-in-fact to act on your behalf to execute and file any such application and to do all other lawfully permitted acts to further the prosecution and issuance of such letters patent, copyright or trademark.

		
	g.
	You acknowledge that to the extent permitted by law, all work papers, reports, documentation, drawings, photographs, negatives, tapes and masters therefor, prototypes and other materials (hereinafter, “items”), including without limitation, any and all such items generated and maintained on any form of electronic media, generated by you during your employment with the Company shall be considered a “work made for hire” and that ownership of any and all copyrights in any and all such items shall belong to the Company.  The item will recognize the Company as the copyright owner, will contain all proper copyright notices, e.g., “(creation date) Verint Systems Inc., All Rights Reserved,” and will be in condition to be registered or otherwise placed in compliance with registration or other statutory requirements throughout the world.

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IN WITNESS WHEREOF, the parties have executed this Appendix in duplicate:

Sincerely, 

Verint Systems Ltd. 

By:    /s/ Dganit Zahavi                
Name:  Dganit Zahavi
Title:  SVP HR

I hereby confirm that I have read and agree to the above terms: 

Employee Name: Hanan Gino

Employee Signature:   /s/ Hanan Gino      

Date:    05-26-15   

- 7 -Exhibit

Exhibit 10.3

Statement of Undertaking

This statement of undertaking (hereinafter “the Statement of Undertaking”) was signed on the 26th of May 2015, by Hanan Gino, ID no. 056025075, from Bergman 29, Rishon Lezion (hereinafter “the employee”).

		
	Whereas
	the employee wishes to engage in an employment agreement with Verint Systems Ltd. (hereinafter “the company”); and 

		
	Whereas
	safeguarding the confidential data (as defined below), the company’s right in inventions (as defined below) and any accompanying intellectual property are essential to the company and the employee signs this undertaking as a condition to his employment by the company.

Therefore, the employee declares and undertakes the following towards the company:

In this statement of undertaking the term “the company” will also include all of the parent companies, subsidiary companies and related companies, directly or indirectly, as well as their subrogates and transferees.

		
	1.
	Confidential Data

The employee acknowledges that he has and will have access to data related to the company, its business, assets, financial state, information regarding the company’s activity, plans, predictions, customers, suppliers, business partners and third parties to whom the company has undertaken to maintain confidentiality (hereinafter “the confidential data”). Confidential data will include, amongst other things, any data, whether marked as confidential or not, regarding technology, products (completed products or products in development), research and development, patents, copyrights, trade secrets, experiment results, equations, processes; regarding trade secrets data, professional data, marketing, sales promotion, business and financial plans, work procedures, strategies, forecasts, inventions, financial data, list of customers, contracts, engagements, transactions, undertakings; data regarding employees, consultants, position holders, directors and share holders. Confidential data will include data in any form, whether documents, written, oral, or electronic or magnetic media. Confidential data will not include data that has become common knowledge, not as a result of a breach of this statement of undertaking by any employee. 
The employee acknowledges and understands that his employment by the company and his access to confidential data creates a relation of trust regarding the aforementioned confidential data.
During the period of employment by the company or at any time after the termination of his employment for any reason, the employee will maintain the confidentiality of the data and will refrain from disclosure to any person or entity for his own benefit or the benefit of any organization other than the company, without the advanced consent of the company.
All of the rights to the confidential data are and will continue to be the sole property of the company or the third party providing the confidential data to the company. Without derogating the generality of the mentioned above, the employee agrees that all of the memos, documents, correspondence (email or otherwise), reports, diagrams, equations, 

specifications, lists and any other document (in any form), prepared, collected, processed, received, held, or that was used by the employee for his work for the company or the confidential data (“the materials”) will be the exclusive property of the company and will be considered confidential data. All of the originals, the copies and the abstracts of the materials will be submitted to the company by the employee upon the termination of the employment period or at any time earlier, should the company so request, and the employee will not save any copies of the aforementioned materials and the employee will not have lien rights.
The employee will not remove the materials from the company’s offices during the period of his employment, unless it is necessary as apart of his job and in accordance with the company’s procedures. If the materials are removed from the company’s offices as described above, the employee will take all measures to maintain their confidentiality and will return them to their place immediately after they are used as mentioned.
The employee will not use, during the period he is employed by the company, without an existing permit or authorization, and will not disclose, confidential data or trade secrets that belong to his previous employers or to any other person to which he is obligated to maintain confidentiality or to refrain from use (including an academic institution or any related party) (“previous employer”).  The employee will not bring any asset or confidential document of a previous employer to the company’s offices, unless this asset, document or information has become common knowledge or the previous employer has agreed in writing to disclose the information.
 
		
	2.
	Unfair Competition and Prohibited Solicitation

The employee agrees that in light of his position in the company, his exposure to sensitive, essential and valuable company information, company assets (including intellectual property), technology, as well as business plans and reputation (“the company’s main assets”), the provisions of this section 2 are reasonable and required for the legal protection of the company’s main assets and the employee undertakes to comply as a condition to his employment. The employee declares that he has carefully read the provisions of this section 2, that he understands the results of this undertaking, specifically this section 2, and he agrees to what is contained in this section and he has considered the advantages and disadvantages of engaging in this undertaking. Therefore, the employee undertakes that during his employment by the company and for 24 months afterwards:
The employee will not engage, establish, develop or be involved in any way, directly or indirectly, as an employee, an owner, a partner, an agent, a shareholder, a director, a consultant or in any other way, in any business, profession, position, or any other activity that is likely to include or require the use of all or part of the company’s main assets. The employee confirms that it is likely that any engagement, establishment, opening, or involvement, directly or indirectly, as an employee, an owner, a partner, an agent, a shareholder, a director, a consultant, or in any other way, in any business, profession, position, or any other activity that competes with the company’s business, as it was during the period of employment or as planned during the period of employment, will require use of all or part of the company’s main assets.
The employee will not solicit, will not attempt to convince or solicit, directly or indirectly, any of the company’s employees to stop working for the company or to reduce their work for the company and will not employ such an employee directly or indirectly. 

The employee will not solicit, will not attempt to convince or solicit, directly or indirectly, any consultant, service provider, agent, distributor, customer, or supplier of the company to terminate, reduce or change their relations with the company.

		
	3.
	Ownership of Inventions

The employee will notify and submit in writing to the company, or anyone appointed on its behalf, any inventions, enhancements, improvements, equations, processes, techniques, professional knowledge and technological data, whether they can be registered as a patent, copyright or under any other similar law or not, that were created, invented, made, developed or raised as ideas or implemented or learned by the employee, himself or with others, during the period he was employed by the company (including after work hours, on weekends, or on vacation) (all of the aforementioned will hereinafter be defined as: “inventions” or, if singular, “the invention”) immediately upon their discovery, receipt, creation, or invention.
The employee agrees that all of the inventions, from the day they were invented or created, are the company’s inventions, the company’s exclusive property, and the company will be the only owner of all patents, copyrights, trade secrets, or any other rights of any other kind, including moral rights, regarding inventions. The employee hereby irrevocably and unconditionally assigns to the company all of the following rights regarding all inventions: (1) patents, patent applications and patent rights, their extensions or expansions, (2) right related to creation, including copyrights or requests for copyrights, moral rights (as defined below) and possessory design rights, (3) rights regarding protection of trade secrets and confidential data, (4) samples and rights related to them, (5) any other possessory rights related to intangible assets including trademarks, service marks and applications for these rights, trade names and related reputation, and (6) claim rights due to the violation of any of the rights described above and the right to revenues, royalties and other payments for the aforementioned rights. The employee hereby waives all moral rights (as defined below) he may be entitled to regarding inventions, even after he completed his period of employment by the company and he agrees never to sue for these rights. “Moral rights” refer to any right of a creator to claim that his creation be named after him, any right to object to any change to a creation, and any other similar right that exists according to any law of any country or any convention.
The employee undertakes that during the period he is employed by the company and afterwards, he will perform any action required or reasonably requested by the company, and will assist the company, at its expense, in any way necessary, to register, protect, preserve, and enforce the inventions in all countries. These actions will include, amongst others, signing documents and assisting in legal procedures. The employee hereby irrevocably appoints and authorizes the company, or anyone it designates on its behalf, as a legal representative of the employee to act in his name and place, to sign any document, submit it and take any measures on behalf of the employee permitted by law to enable registration, preservation, protection and enforcement of the inventions, in any country.
The employee will not be entitled, in regard to the above, to any financial or other return beyond what is explicitly stated in the employment agreement or any other agreement or special settlement regarding this matter, written and signed by the company. Without derogating from the generality of the foregoing, the employee hereby irrevocably confirms that the amount he is paid according to the explicit terms of the 

employment agreement is in lieu of any right the employee may be entitled to by law for payment for the inventions and the employee hereby waives any right to royalties or any other payment for the inventions, including by virtue of section 134 of the Patents Law, 1967. In regard to the foregoing, any agreement, engagement, or oral or written agreement, will not be valid without being lawfully signed by the company.
  
		
	4.
	General

The employee hereby declares that in complying with all of the undertakings of this statement of undertaking, and in his position as company employee, he is not in violation of any undertaking to assign inventions, of non-competition, of confidentiality, or any similar undertaking towards, or the right of, a previous employer (including an academic institution or any related party). The employee acknowledges that the company is relying on this declaration in its decision to employ him.
The employee agrees that the provisions of this undertaking, which are an inseparable part of the terms of his employment, are reasonable and necessary for protection of the legitimate interests of the company.
The employee acknowledges that a breach of any provision of this statement of undertaking will cause the company irreparable damage and therefore in case of a breach of this statement of undertaking by the employee, the company will be entitled to issue a restraining order to enforce this statement of undertaking (without derogating from the other remedies the company will be entitled to).
Israeli law will apply to this statement of undertaking and it will be interpreted accordingly. The authorized court in Tel Aviv will have the exclusive jurisdiction in any matter related to this statement of undertaking.
Should the court or an authorized arbitrator determine that any of the provisions of this statement is invalid or non-enforceable in any way, such provision will be enforced to the maximum extent it can be according to the intent of the company and the employee. If the provision cannot be enforced according to this intent, the provision will be considered as if the parts that were determined as invalid or non-enforceable were deleted, only in the state or area in which it was determined that the provision was invalid or non-enforceable. In addition, if it will be determined that any provision included in this statement of undertaking is too wide for the period of time mentioned, the geographical perimeter, activity, or any other issue, it will be interpreted so that the applicable provision will be limited and reduced according to the above mentioned characteristic, so that the provision will be as enforceable as possible according to the law applicable at the time.
The provisions of this undertaking will remain fully valid after the termination of the employment of the employee for any reason. This undertaking will not derogate any other liability and undertaking of the employee according to any law.
This statement of undertaking serves as the complete agreement between the company and the employee regarding the issue of this statement. Any addition, change and/or waiver of the undertakings according to this statement will only be valid if they are written and signed by the company. A concession by one party to the other party will be a one-time concession and will not serve as a precedent for or reflect on a similar case or any other case.
This statement of undertaking and the rights and obligations according to it will apply to subrogates, transferees and legal representatives of the company and the employee. The company will be entitled to assign all or part of its rights under this statement of undertaking. The employee will not transfer, assign or convert the obligations imposed 

on him by virtue of this statement of undertaking in any way, without the advanced written consent of the company.

As evidence, I signed, today 26 of May 2015

Employee’s Name:  /s/ Hanan Gino

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