Document:

EX-4.2

 Exhibit 4.2 

FORM OF EMPLOYEE MATTERS AGREEMENT 

BY AND BETWEEN 
 VERINT
SYSTEMS INC. 
 AND 

COGNYTE SOFTWARE LTD. 

DATED AS OF [DATE] 
  

 FORM OF EMPLOYEE MATTERS AGREEMENT 

This EMPLOYEE MATTERS AGREEMENT (this “Agreement”), dated as of [DATE], is by and between Verint Systems Inc.,
a Delaware corporation (“Parent”), and Cognyte Software Ltd., a company organized under the laws of the State of Israel (“SpinCo”). 

RECITALS 
 WHEREAS,
the board of directors of Parent (the “Parent Board”) has determined that it is in the best interests of Parent and its shareholders to create a new publicly traded company that shall operate the SpinCo Business; 

WHEREAS, in furtherance of the foregoing, the Parent Board has determined that it is appropriate and desirable to make a distribution, on a
pro rata basis and in accordance with a distribution ratio to be determined by the Parent Board, to the holders of Parent Shares on the Record Date of all the outstanding SpinCo Shares owned by Parent (the “Distribution”), and,
immediately following the Distribution separate the SpinCo Business from the CES Business (the “Separation”); 
 WHEREAS,
Parent and SpinCo entered into the Separation and Distribution Agreement (the “Separation and Distribution Agreement”), dated as of [DATE], in order to carry out, effect and consummate the Separation and the Distribution and
set forth the principal arrangements between them regarding the terms of the Separation and the Distribution; and 
 WHEREAS, the Parties
desire to provide for and agree upon the allocation between the Parties of the principal employment, compensation, equity plan, and other benefit plan arrangements of each of the Parties and their respective affiliates arising prior to, as a result
of, and subsequent to the Separation and the Distribution, and to provide for and agree upon other matters relating to such matters. 
 NOW,
THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be
legally bound, hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01    Defined Terms. For the purpose of this Agreement, the following terms shall have the following
meanings, and capitalized terms used herein and not otherwise defined in this Article I shall have the respective meanings assigned to them in the Separation and Distribution Agreement. 

(a)    “Adjusted Parent Award” means an Adjusted Parent RSU Award or Adjusted Parent PSU Award. 

 (b)    “Adjusted Parent PSU Award” means a
performance-based restricted stock unit award granted pursuant to a Parent Equity Plan as adjusted in accordance with Section 6.01. 

(c)    “Adjusted Parent RSU Award” means a restricted stock unit award granted pursuant to a Parent
Equity Plan as adjusted in accordance with Section 6.01. 

(d)    “Affiliate” has the meaning set forth in the Separation and Distribution Agreement. It is
expressly agreed that, prior to, at and after the Effective Time, for purposes of this Agreement, (a) no member of the SpinCo Group will be deemed to be an Affiliate of any member of the CES Group, and (b) no member of the CES Group will
be deemed to be an Affiliate of any member of the SpinCo Group. 
 (e)    “Agreement” has the meaning
set forth in the Preamble. 
 (f)    “Benefit Plan” means any (i) “employee benefit plan,” as
defined in ERISA Section 3(3) (whether or not such plan is subject to ERISA); and (ii) employment, compensation, severance, redundancy, salary continuation, bonus, thirteenth month, incentive, retirement, thrift, superannuation, savings,
pension, workers’ compensation, termination benefit (including termination notice requirements), termination indemnity, other indemnification, supplemental unemployment benefit, profit sharing, deferred compensation, stock ownership, stock
purchase, stock option, stock appreciation right, restricted stock, performance stock, “phantom” stock, performance stock unit, restricted stock unit, other equity-based incentive, change in control, paid time off, perquisite, fringe
benefit, vacation, disability, life, or other insurance, death benefit, hospitalization, medical, or other compensatory or benefit plan, program, fund, agreement, arrangement, or policy of any kind (whether written or oral, qualified or
nonqualified, funded or unfunded, foreign or domestic, currently effective or terminated), and any trust, escrow or similar agreement related thereto, whether or not funded. 

(g)    “COBRA” means coverage required by Section 4980B of the Code or ERISA Section 601 et.
seq. 
 (h)    “Code” means the U.S. Internal Revenue Code of 1986, as amended. 

(i)    “Collective Bargaining Agreement” means (i) any collective bargaining agreement or labor
agreement with a union, works council, or trade representative, to which any member of the CES Group or the SpinCo Group is a party or by which it is otherwise bound or (ii) any terms and conditions that apply to Employees who perform services
outside of the United States by virtue of membership in a union or participation in a particular trade, industry or economic sector. 

(j)    “Distribution” has the meaning set forth in the Recitals. 

(k)    “Employee” means, as applicable, an employee on the payroll of Parent or any other member of the
CES Group or SpinCo or any other member of the SpinCo Group, including any employee absent from work on account of vacation, annual leave, jury duty, funeral leave, personal leave, sickness, short-term disability, long-term disability

  
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or workers’ compensation leave (in each case, unless treated as a separated employee for employment purposes), military leave, family leave, parental leave (whether paid or unpaid), pay
continuation leave, garden leave, or other approved leave of absence or for whom an obligation to recall, rehire or otherwise return to employment exists under a contractual obligation or Law. A Former Employee is not considered an
“Employee” for purposes of this Agreement. 
 (l)    “Employee Recoupment Asset” means an
employer’s right to repayment from an employee or former employee in respect of a tax equalization payment, sign-on bonus payment, relocation expense payment, tuition payment, reimbursement, loan, or
other similar item, including any agreement related thereto. 
 (m)    “Employment Agreement” means an
employment contract between a member of the CES Group or the SpinCo Group, as applicable, and an Employee (including a contract in place prior to the Spin-off Date or one that takes effect on or after the Spin-off Date). 
 (n)    “ERISA” means the U.S. Employee Retirement
Income Security Act of 1974, as amended. 
 (o)    “First Post-Distribution Trading Day” means, with
respect to Parent Shares, the first day on or following the Spin-off Date on which “regular way” trading in Parent Shares is reported on NASDAQ and, with respect to SpinCo Shares, the first day on or
following the Spin-off Date on which “regular way” trading in SpinCo Shares is reported on NASDAQ. 

(p)    “Former Employee” means any individual whose employment with Parent and all of its Subsidiaries
(including SpinCo and any other member of the SpinCo Group) terminated on or prior to the Spin-off Date and for whom no obligation to recall, rehire or otherwise return to employment exists under a contractual
obligation or applicable Law. 
 (q)    “Health and Welfare Plan” means any Benefit Plan established or
maintained to provide Employees or Former Employees or their beneficiaries, through the purchase of insurance or otherwise, medical, dental, prescription, vision, short-term disability, long-term disability, death benefits, life insurance,
accidental death and dismemberment insurance, business travel accident insurance, employee assistance program, group legal services, wellness, cafeteria (including premium payment, health care flexible spending account, and dependent care flexible
spending account components), travel reimbursement, transportation, vacation benefits, apprenticeship or other training programs, day care centers, or prepaid legal services benefits, including any “employee welfare benefit plan” (as
defined in ERISA Section 3(1)), whether or not subject to ERISA, that is not a severance plan. 

(r)    “Incurred Claim” means a Liability related to services or benefits provided under a Benefit Plan,
which will be deemed to be incurred: (i) with respect to medical, dental, vision, and prescription drug benefits, upon the rendering of services 

  
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giving rise to such Liability; (ii) with respect to death benefits, life insurance, accidental death and dismemberment insurance, and business travel accident insurance, upon the occurrence
of the event giving rise to such Liability; (iii) with respect to disability benefits, upon the date of disability, as determined by the applicable disability benefit insurance carrier or claim administrator; (iv) with respect to a period
of continuous hospitalization, upon the date of admission to the hospital; and (v) with respect to tuition reimbursement or adoption assistance, upon completion of the requirements for such reimbursement or assistance, whichever is applicable.

 (s)    “Israeli Tax Ruling” has the meaning set forth in Section 6.01(d).

 (t)    “NASDAQ” means the Nasdaq Global Select Market. 

(u)    “Notice” means any written notice, request, demand or other communication specifically referencing
this Agreement and given in accordance with Section 7.08. 
 (v)    “Parent”
has the meaning set forth in the first paragraph of this Agreement. 
 (w)    “Parent 401(k) Plan”
means the Verint Systems Inc. 401(k) Savings Plan. 
 (x)    “Parent Award” means a Parent RSU Award or
Parent PSU Award, as applicable, which are subject to adjustment in accordance with Section 6.01 and/or with respect to which corresponding SpinCo Awards will be issued pursuant to Section 6.01.

 (y)    “Parent Benefit Plan” means a Benefit Plan sponsored by, maintained by, or contributed to by
any member of the CES Group, other than a SpinCo Benefit Plan. For the avoidance of doubt, no member of the CES Group will be deemed to sponsor, maintain or contribute to any Benefit Plan if its relationship to such Benefit Plan is solely to
administer such Benefit Plan or provide to the SpinCo Group any reimbursement in respect of such Benefit Plan. 

(z)    “Parent Board” has the meaning set forth in the Recitals. 

(aa)     “Parent Compensation Committee” means the Compensation Committee of the Parent Board. 

(bb)    “Parent Equity Plan” means, collectively, the Verint Systems Inc. 2019 Long-Term Stock Incentive
Plan, the Verint Systems Inc. Amended and Restated 2015 Long-Term Stock Incentive Plan, and any incentive compensation program or arrangement that governs the terms of equity-based incentive awards assumed by the CES Group in connection with a
corporate transaction and that is maintained by the CES Group immediately prior to the Spin-off Date (excluding the SpinCo Equity Plan and any other plan maintained solely by SpinCo or any other member of the
SpinCo Group), and any sub-plans established under those programs. 

  
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 (cc)    “Parent Former Employee” means a Former
Employee who is not a SpinCo Former Employee. 
 (dd)    “Parent Health and Welfare Plan” means a
Health and Welfare Plan sponsored by, maintained by, or contributed to by any member of the CES Group. For the avoidance of doubt, no member of the CES Group will be deemed to sponsor, maintain or contribute to any Health and Welfare Plan if its
relationship to such Health and Welfare Plan is solely to administer such Health and Welfare Plan or provide to the SpinCo Group any reimbursement in respect of such Health and Welfare Plan. 

(ee)    “Parent Non-U.S. Retirement Plan” means any Benefit Plan
that is a pension or retirement plan (other than a severance plan) that is maintained by any member of the CES Group for the benefit of Employees employed outside the U.S., other than a SpinCo Benefit Plan. 

(ff)    “Parent Phantom Award” means a “phantom” award, payable in cash and tied to the value
of Parent Shares, granted by Parent and outstanding immediately prior to the Spin-off Date. 

(gg)    “Parent Post-Distribution Stock Value” means the volume weighted average per share price of one
Parent Share, trading “regular way,” as reported on the NASDAQ measured during the 5 consecutive trading days starting with the First Post-Distribution Trading Day, rounded to the nearest cent. 

(hh)    “Parent PSU Award” means a performance-based restricted stock unit award granted pursuant to a
Parent Equity Plan and outstanding immediately prior to the Spin-off Date. 

(ii)    “Parent RSU Award” means a restricted stock unit award granted pursuant to a Parent Equity Plan
and outstanding immediately prior to the Spin-off Date. 

(jj)    “Parent Shares” means the common shares of Parent, $0.001 par value per share. 

(kk)    “Party” or “Parties” means a party or the parties to this Agreement. 

(ll)    “Pre-Distribution Stock Value” means the volume weighted
average per share price of one Parent Share, trading “regular way,” as reported on the NASDAQ during the 3 consecutive trading days ending with the day immediately prior to the Spin-off Date (or if
such day is not an NASDAQ trading day, ending on the next preceding NASDAQ trading day), rounded to the nearest cent; provided, however, that the Pre-Distribution Stock Value shall only be measured on trading
days on which the price per Parent Share remains based on the value of the combined company. 

(mm)    “Retained Employee” means any Employee other than a SpinCo Employee. 

(nn)    “Securities Act” means the U.S. Securities Act of 1933, as amended. 

  
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 (oo)    “Separation” has the meaning set forth in the
Recitals. 
 (pp)    “Separation and Distribution Agreement” has the meaning set forth in the Recitals.

 (qq)    “SpinCo” has the meaning set forth in the Preamble. 

(rr)    “SpinCo Award” means a SpinCo RSU Award or SpinCo PSU Award, as applicable, issued pursuant to
Section 6.01. 
 (ss)    “SpinCo Benefit Plan” means each Benefit Plan
sponsored by, maintained by, or contributed to by any member of the SpinCo Group and that covers SpinCo Employees and/or SpinCo Former Employees. For the avoidance of doubt, no member of the SpinCo Group will be deemed to sponsor, maintain or
contribute to any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or provide to the CES Group any reimbursement in respect of such Benefit Plan. 

(tt)     “SpinCo Employee” means any Employee who is (i) employed by any member of the SpinCo Group
immediately prior to the Spin-off Date or who continues in employment with the SpinCo Group from and after the Spin-off Date, or (ii) hired by any member of the
SpinCo Group on or after the Spin-off Date. 
 (uu)    “SpinCo Equity
Plan” means the equity incentive compensation plan or arrangement that governs the terms of equity-based incentive awards assumed by the SpinCo Group in connection with this Agreement and any
sub-plans established under those programs. 
 (vv)    “SpinCo Former
Employee” means a Former Employee who was primarily employed or engaged by the SpinCo Group immediately prior to such individual’s termination of employment. 

(ww)    “SpinCo Health and Welfare Plan” means a SpinCo Benefit Plan that is a Health and Welfare Plan.
For the avoidance of doubt, no member of the SpinCo Group will be deemed to sponsor, maintain or contribute to any Health and Welfare Plan if its relationship to such Health and Welfare Plan is solely to administer such Health and Welfare Plan or
provide to the CES Group any reimbursement in respect of such Health and Welfare Plan. 
 (xx)    “SpinCo
Post-Distribution Stock Value” means the volume weighted average per share price of one SpinCo Share, trading “regular way,” as reported on NASDAQ, or such alternative primary exchange on which SpinCo Shares may be traded at such
time, on each of the 5 consecutive trading days starting with the First Post-Distribution Trading Day, rounded to the nearest cent. 

  
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 (yy)    “SpinCo PSU Award” means a performance-based
restricted stock unit award issued by SpinCo in accordance with Section 6.01. 

(zz)    “SpinCo Retirement Plan” means any SpinCo Benefit Plan that is a retirement or pension plan. 

(aaa)     “SpinCo RSU Award” means a restricted stock unit award issued by SpinCo in accordance with
Section 6.01. 
 (bbb)    “Tax” has the meaning set forth in the Tax Matters
Agreement. 
 (ccc)    “Tax Authority” has the meaning set forth in the Tax Matters Agreement. 

ARTICLE II 
 GENERAL
PRINCIPLES 
 Section 2.01    Allocation of Liabilities. 

(a)    SpinCo Liabilities. Effective as of the Effective Time, and except as expressly provided in this Agreement,
SpinCo hereby assumes (or retains) or will cause any other member of the SpinCo Group to assume (or retain) and agrees to (or to cause another member of the SpinCo Group to) pay, perform, fulfill, discharge, and indemnify the CES Group for, all
Liabilities (i) to the extent relating to, arising out of, or resulting from the employment (or termination of employment) of any SpinCo Employee or any SpinCo Former Employee, whether such Liabilities relate to or arise out of periods on,
prior to or after the Spin-off Date and including any Liabilities that are required to be assumed pursuant to local Law, or (ii) which are expressly assumed or retained by the SpinCo Group pursuant to
this Agreement. For the avoidance of doubt, SpinCo shall assume (or retain) all statutory employee entitlements, including accrued but untaken annual leave, long service leave, personal leave, sick leave, family, parental or carer’s leave and
redundancy or severance pay related to any SpinCo Employee or SpinCo Former Employee. 
 (b)    Parent Liabilities.
Effective as of the Effective Time, and except as expressly provided in this Agreement, Parent hereby assumes (or retains) or will cause any other member of the CES Group to assume (or retain) and agrees to (or to cause another member of the CES
Group to) pay, perform, fulfill, discharge, and indemnify the Spinco Group for, all Liabilities (i) to the extent relating to, arising out of, or resulting from the employment (or termination of employment) of any Retained Employee or any
Parent Former Employee, whether such Liabilities relate to or arise out of periods on, prior to or after the Spin-off Date or (ii) which are expressly assumed or retained by the CES Group pursuant to this
Agreement. 
 (c)    Intended Effect; Other Liabilities. The intended effect of this Agreement, except to the
extent expressly provided herein, is that (i) the SpinCo Group (or a member thereof) will assume or retain all Liabilities to or related to SpinCo Employees and SpinCo Former Employees including under the Parent Benefit Plans (with respect to
SpinCo 

  
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Employees and SpinCo Former Employees) and all Liabilities under or with respect to any SpinCo Benefit Plan or any Employment Agreement with any SpinCo Employee, and (ii) the CES Group (or a
member thereof) will assume and retain all Liabilities to or related to Employees and Former Employees other than SpinCo Employees and SpinCo Former Employees and all Liabilities under the Parent Benefit Plans (excluding those with respect to SpinCo
Employees and SpinCo Former Employees) and any Employment Agreement with any Retained Employee. To the extent that this Agreement does not address particular Liabilities and the Parties later determine that such Liabilities should be allocated in
connection with the Separation, the Parties will agree in good faith on the allocation, taking into account the handling of comparable Liabilities under this Agreement. 

(d)    Transfer of Employees. Except with respect to employees who transfer employment pursuant to
Section 2.04 after the Spin-off Date, Parent will use commercially reasonable efforts to ensure that employees of the CES Group who are designated by Parent to transfer employment to
the SpinCo Group transfer to the appropriate member of the SpinCo Group prior to the Spin-off Date, taking into account the requirements of local Law (including, where required by applicable Law, ensuring that
they resign from their employment with Parent or a member of the CES Group and accept employment with SpinCo or a member of the SpinCo Group and sign any documentation required by applicable Law in connection with such transfer). 

Section 2.02    Employment with SpinCo. 

(a)    Retention of Employees. From and after the Effective Time, the Parties intend for SpinCo Employees to remain
employed by the SpinCo Group and all other Employees to remain employed by the CES Group. The Parties will cooperate in good faith to identify clearly the SpinCo Employees. SpinCo will be responsible for, and will indemnify the CES Group from and
against, any Liabilities incurred (including any severance payments made or required to be made): (i) in connection with the transfer or termination of a SpinCo Employee on or after the Spin-off Date,
(ii) arising from or in connection with a failure or refusal by any SpinCo Employee to continue in employment from and after the Spin-off Date, and (iii) any other Liabilities retained or assumed by
SpinCo (or any other member of the SpinCo Group) under this Agreement. Parent will be responsible for, and will indemnify the SpinCo Group from and against, any Liabilities incurred (including any severance payments made or required to be made): (i)
in connection with the transfer or termination of an Employee other than a SpinCo Employee on or after the Spin-off Date, (ii) arising from or in connection with a failure or refusal by any Employee other
than a SpinCo Employee to continue in employment from and after the Spin-off Date, and (iii) any other Liabilities retained or assumed by Parent (or any other member of the CES Group) under this
Agreement. 
 (b)    Certain Local Law Requirements. Notwithstanding anything to the contrary herein, the
following terms will apply to all SpinCo Employees: 
 (i)    To the extent that (A) the applicable Law of any
jurisdiction, (B) any applicable Collective Bargaining Agreement or other applicable agreement 

  
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with a works council or economic committee, or (C) any applicable Employment Agreement would require SpinCo or a member of the SpinCo Group to provide any specific terms of employment to any
SpinCo Employee in connection with the Distribution, then SpinCo will cause the SpinCo Group to provide such SpinCo Employee with such specific terms. SpinCo will be responsible for liabilities for, and will cause the SpinCo Group to provide, all
compensation or benefits (whether statutory, contractual or otherwise) to each SpinCo Employee arising from or related to the transactions contemplated by the Separation and Distribution Agreement, or the related transfer of the employee to SpinCo
or a member of the SpinCo Group. 
 (ii)    Parent and SpinCo agree that to the extent provided under the applicable Laws
of certain foreign jurisdictions, (A) any Employment Agreements between a member of the CES Group, on the one hand, and any SpinCo Employee, on the other hand, and (B) any Collective Bargaining Agreements applicable to the SpinCo Employees
in such jurisdictions, will in each case have effect after the Distribution as if originally made between the SpinCo Group and the other parties to such Employment Agreement or Collective Bargaining Agreement. 

Section 2.03    Establishment of SpinCo Plans. From and after the
Spin-off Date, SpinCo will (or will cause another member of the SpinCo Group to) adopt or continue in effect the SpinCo Benefit Plans (and related trusts, if applicable, as determined by the Parties) that were
in effect prior to the Spin-off Date and such other SpinCo Benefit Plans as determined in the discretion of the SpinCo Group (or any member thereof), subject to the terms and conditions of
Section 2.02(b). Notwithstanding the foregoing or any other provision of this Agreement, SpinCo will adopt the SpinCo Equity Plan prior to the Spin-off Date. 

Section 2.04    Transfers by Mutual Agreement. The Parties recognize that, prior to and/or for a period of
twelve (12) months from the Spin-off Date, they may determine it to be in their mutual best interests to transfer an individual classified (or who would otherwise be classified) as a Retained Employee to
the SpinCo Group or to transfer an individual classified (or who would otherwise be classified) as a SpinCo Employee to the CES Group. With the express written consent of each Party, CES Group or SpinCo Group, as applicable, will use commercially
reasonable efforts to ensure that such individual’s employment is either transferred, terminated by such individual by resigning, or failing that, will be terminated by the CES Group or the SpinCo Group, as applicable, and such Employee will be
immediately offered employment by the other Party on the same basis as mandated by Section 2.02(b) (such terminations and hires are referred to in this Section 2.04 as “transfers”), in
each case taking into account the requirements of local Law. Retained Employees (or a person who would otherwise be classified as a Retained Employee, in any case with such status being determined as of the date of transfer) who are subsequently
transferred to the SpinCo Group pursuant to this Section 2.04 will be treated as Retained Employees for all purposes hereof during their time as Employees of the CES Group until their actual transfer to the SpinCo Group,
upon and following which 

  
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the Parties will use commercially reasonable efforts to provide that they are treated as SpinCo Employees for all purposes hereof. SpinCo Employees (or a person who would otherwise be classified
as a SpinCo Employee, with such status being determined as of the date of transfer) who are subsequently transferred to the CES Group pursuant to this Section 2.04 will be treated as SpinCo Employees for all purposes hereof
during their time as Employees of the SpinCo Group until their actual transfer to the CES Group, upon and following which the Parties will use commercially reasonable efforts to provide that they are treated as Retained Employees for all purposes
hereof. 
 Section 2.05    Collective Bargaining Agreements. Effective as of the Spin-off Date, (i) Parent or a member of the CES Group will retain each Collective Bargaining Agreement then in effect covering any Retained Employee and will retain all liabilities arising prior to the Spin-off Date and assume all liabilities arising after the Spin-off Date under each such Collective Bargaining Agreement and (ii) SpinCo or a member of the SpinCo Group
will retain or assume each Collective Bargaining Agreement then in effect covering any SpinCo Employee and will retain all liabilities arising prior to the Spin-off Date and assume all liabilities arising
after the Spin-off Date under each such Collective Bargaining Agreement. 

Section 2.06    Outstanding Offer Letters. From and after the Spin-off
Date, (i) the SpinCo Group (or a member thereof) will assume or retain all Liabilities, promises or other obligations set forth in offer letters extended to prospective employees who are ultimately hired as SpinCo Employees and (ii) the
CES Group (or a member thereof) will assume and retain all Liabilities, promises or other obligations set forth in offer letters extended to prospective employees who are ultimately hired as Retained Employees. Furthermore, to the extent that any
such offer letters include a promise to recommend that an Employee receive an equity grant, any such equity grants recommended to be awarded to SpinCo Employees (if approved) shall be granted under the SpinCo Equity Plan, and any such equity grants
recommended to be awarded to Retained Employees (if approved) shall be granted under the Verint Systems Inc. 2019 Long-Term Stock Incentive Plan and, in each case, shall take into account the principals of Article VI in determining the total number
of shares to be subject to such equity grant. 
 ARTICLE III 

PARENT 401(K) PLAN 

Section 3.01    401(k) Plan. From and after the Spin-off Date, the
Parent 401(k) Plan will continue to be responsible for all Liabilities thereunder and no assets or Liabilities of the Parent 401(k) Plan will be transferred to any SpinCo Benefit Plan and SpinCo will not assume any Liabilities under or with respect
to the Parent 401(k) Plan, in each case other than in connection with any rollovers that may be made from the Parent 401(k) Plan to any SpinCo Benefit Plan that is a 401(k) plan in accordance with the terms of such plan. 

  
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 ARTICLE IV 

PARENT NON-U.S. RETIREMENT PLANS AND SPINCO RETIREMENT PLANS 

Section 4.01    Parent Non-U.S. Retirement Plans. From and after the Spin-off Date, each member of the CES Group will continue to be responsible for all Liabilities under and with respect to any Parent Non-U.S. Retirement Plan, other than any
such Liabilities attributable to SpinCo Employees and SpinCo Former Employees, and the SpinCo Group will not assume any Liabilities under or with respect to any such Parent Non-U.S. Retirement Plan other than
those attributable to the SpinCo Employees and SpinCo Former Employees. Without limiting the generality of the foregoing, SpinCo Employees will cease to be active participants in the Parent Non-U.S. Retirement
Plans effective as of the Spin-off Date and no SpinCo Employee will accrue any benefits under any Parent Non-U.S. Retirement Plan for periods after the Spin-off Date. 
 Section 4.02    SpinCo Retirement Plans. From and after
the Spin-off Date, each member of the SpinCo Group will be responsible for all Liabilities under and with respect to any SpinCo Retirement Plan, other than any Liabilities attributable to Retained Employees
and Parent Former Employees and no member of the CES Group will assume or otherwise have any Liabilities under or with respect to any SpinCo Retirement Plan other than those attributable to the Retained Employees and Parent Former Employees. Without
limiting the generality of the foregoing, Retained Employees will cease to be active participants in any SpinCo Retirement Plan effective as of the Spin-off Date and no Retained Employee will accrue any
benefits under any SpinCo Retirement Plan for periods after the Spin-off Date except in accordance with the express terms and conditions of and applicable SpinCo Retirement Plan. 

ARTICLE V 
 WELFARE AND
FRINGE BENEFIT PLANS 
 Section 5.01    Health and Welfare Plans. 

(a)    Allocation of Liabilities; Generally. 

(i)    Except as otherwise provided in this Agreement, from and after the Spin-off
Date, (A) the CES Group and the Parent Health and Welfare Plans, as applicable, will continue to be responsible for all Liabilities under and with respect to the Parent Health and Welfare Plans (including all Incurred Claims, regardless of when
the Incurred Claim arose or was incurred) other than any Liabilities attributable to SpinCo Employees or SpinCo Former Employees and (B) the CES Group and the Parent Health and Welfare Plans, as applicable, will retain all assets relating to or
associated with the Parent Health and Welfare Plans and Incurred Claims (including Medicare reimbursements, insurance payments and reimbursements, pharmaceutical rebates, and similar items) other than any assets related to SpinCo Employees or SpinCo
Former Employees that are transferred to a 

  
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corresponding SpinCo Health and Welfare Plan in connection with the SpinCo Group’s assumption of any Liabilities that are associated with such assets. If any SpinCo Employees remain active
participants in the Parent Health and Welfare Plans as of or following the Spin-off Date, the SpinCo Group will reimburse Parent for the cost of any benefits provided to such SpinCo Employees on or after the Spin-off Date. 
 (ii)    Except as otherwise provided in this Agreement, from and
after the Spin-off Date, (A) the SpinCo Group and the SpinCo Health and Welfare Plans, as applicable, will be responsible for all Liabilities under and with respect to the SpinCo Health and Welfare Plans
(including all Incurred Claims, regardless of when the Incurred Claim arose or was incurred) other than any Liabilities attributable to Retained Employees or Parent Former Employees and (B) the SpinCo Group and the SpinCo Health and Welfare
Plans, as applicable, will retain all assets relating to or associated with the SpinCo Health and Welfare Plans and Incurred Claims (including Medicare reimbursements, insurance payments and reimbursements, pharmaceutical rebates, and similar items)
other than any assets related to Retained Employees or Parent Former Employees that are transferred to a corresponding Parent Health and Welfare Plan in connection with the CES Group’s assumption of any Liabilities that are associated with such
assets. If any Retained Employees remain active participants in the SpinCo Health and Welfare Plans as of or following the Spin-off Date, the CES Group will reimburse SpinCo for the cost of any benefits
provided to such Retained Employees on or after the Spin-off Date. 

(b)    COBRA. Without limiting the generality of Section 5.01(a), the CES Group will
continue to be responsible for compliance with the health care continuation requirements of COBRA, and the corresponding provisions of the Parent Health and Welfare Plans with respect to any (i) Retained Employees and any Former Employees (and
their covered dependents) who incur a qualifying event under COBRA on, prior to, or following the Spin-off Date, and (ii) any SpinCo Employees (and their covered dependents) who incur a qualifying event
under COBRA on or prior to the Spin-off Date. 

Section 5.02    Vacation, Holidays, Annual Leave and Leaves of Absence. Effective as of the Spin-off Date, SpinCo will (or will cause any other member of the SpinCo Group to) retain (or assume) all Liabilities of the CES Group with respect to vacation, holiday, annual leave, long service or other leave of
absence, and required payments related thereto, for each SpinCo Employee and each SpinCo Former Employee or reimburse the CES Group for any such expenses incurred by the CES Group in connection with the Separation. Parent will (or will cause any
other member of the CES Group to) retain (or assume) all Liabilities with respect to vacation, holiday, annual leave, long service or other leave of absence, and required payments related thereto, for all Retained Employees and Parent Former
Employees or reimburse the SpinCo Group for any such expenses incurred by the SpinCo Group in connection with the Separation. 

  
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 Section 5.03    Severance and Unemployment Compensation.
Effective as of the Spin-off Date, SpinCo will (or will cause another member of the SpinCo Group to) retain (or assume) all Liabilities to, or relating to, SpinCo Employees and SpinCo Former Employees in
respect of severance and unemployment compensation or reimburse the CES Group for any such expenses incurred by the CES Group in connection with the Separation. The CES Group will be responsible for any and all Liabilities to, or relating to,
Retained Employees and Parent Former Employees in respect of severance and unemployment compensation and will reimburse the SpinCo Group for any such expenses incurred by the SpinCo Group in connection with the Separation. 

Section 5.04    Workers’ Compensation. With respect to claims for workers’ compensation in the
United States, (a) the SpinCo Group will be responsible for claims in respect of SpinCo Employees and SpinCo Former Employees, whether occurring or related to events occurring prior to, on or following the
Spin-off Date, and (b) the CES Group will be responsible for all claims in respect of Retained Employees and Parent Former Employees, whether occurring or related to events occurring prior to, on or
following the Spin-off Date. 
 ARTICLE VI 

EQUITY AND INCENTIVE PROGRAMS 

Section 6.01    Equity Plans. 

(a)    The Parties will use commercially reasonable efforts to take all actions necessary or appropriate so that each
outstanding Parent RSU Award and Parent PSU Award granted under a Parent Equity Plan will be adjusted or assumed, as applicable, as set forth in this Section 6.01. 

(i)    Parent RSU Awards. As determined by the Parent Compensation Committee pursuant to its authority under the
applicable Parent Equity Plan, each Parent RSU Award, regardless of by whom held, whether vested or unvested, will be converted effective as of the Spin-off Date as described in this
Section 6.01(a)(i). Each Parent RSU Award will be either (x) converted effective as of the Spin-off Date into an Adjusted Parent RSU Award (for Retained Employees, Parent Former
Employees and Parent non-employee directors) or (y) assumed by SpinCo and converted effective as of the Spin-off Date into a SpinCo RSU Award (for SpinCo Employees
and SpinCo Former Employees). Except as otherwise provided in this Section 6.01, each Adjusted Parent RSU Award and each SpinCo RSU Award shall be subject to the same terms and conditions (including with respect to vesting,
settlement and termination) after the conversion as applied to such Parent RSU Award immediately prior to the conversion; provided, however, that: 

(A)    the number of Parent Shares (including those attributable to dividend equivalent units) subject to
each Adjusted Parent RSU Award subject to this Section 6.01(a)(i)(A) will be equal to the quotient of (I) the 

  
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product of (a) the number of Parent Shares (including those attributable to dividend equivalent units) subject to the corresponding Parent RSU Award immediately prior to the Spin-off Date, multiplied by (b) the Pre-Distribution Stock Value; divided by (II) the Parent Post-Distribution Stock Value, rounded down to the nearest whole
number; and 
 (B)    the number of SpinCo Shares subject to each SpinCo RSU Award (including those
attributable to dividend equivalent units) subject to this Section 6.01(a)(i)(A) will be equal to the quotient of (I) the product of (a) the number of Parent Shares (including those attributable to dividend
equivalent units) subject to the corresponding Parent RSU Award immediately prior to the Spin-off Date, multiplied by (b) the Pre-Distribution Stock Value; divided
by (II) the SpinCo Post-Distribution Stock Value, rounded down to the nearest whole number. 
 (ii)    Parent PSU
Awards. As determined by the Parent Compensation Committee pursuant to its authority under the applicable Parent Equity Plan, each Parent PSU Award, regardless of by whom held, whether vested or unvested, will be converted effective as of the Spin-off Date as described in this Section 6.01(a)(ii). For the avoidance of doubt, each Parent PSU Award with a performance period that ends on or near the
Spin-off Date, but for which the performance results have not yet been determined, will be considered outstanding and unvested as of such date for purposes hereof and will be converted as described in this
Section 6.01(a)(ii). Each Parent PSU Award will be either (x) converted effective as of the Spin-off Date into an Adjusted Parent PSU Award (for Retained Employees, Parent Former
Employees and Parent non-employee directors) or (y) assumed by SpinCo and converted effective as of the Spin-off Date into a SpinCo PSU Award (for SpinCo Employees
and SpinCo Former Employees). Except as otherwise provided in this Section 6.01, each Adjusted Parent PSU Award and each SpinCo PSU Award will be subject to the same terms and conditions (including with respect to vesting,
settlement and termination) after the conversion as applied to the corresponding Parent PSU Award immediately prior to the conversion; provided, however, that: 

(A)    the number of Parent Shares subject to each Adjusted Parent PSU Award subject to this
Section 6.01(a)(ii)(A) will be equal to the quotient of (I) the product of (a) the number of Parent Shares (including those attributable to dividend equivalent units) subject to the corresponding Parent PSU Award
immediately prior to the Spin-off Date, multiplied by (b) the Pre-Distribution Stock Value; divided by (II) the Parent Post-Distribution Stock Value, rounded
down to the nearest whole number; 
 (B)    the number of SpinCo Shares subject to each SpinCo PSU Award
subject to this Section 6.01(a)(ii)(A) will be equal to the quotient of (I) the product of (a) the number of Parent Shares (including those attributable to dividend equivalent units) subject to the corresponding
Parent PSU 

  
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Award immediately prior to the Spin-off Date, multiplied by (b) the Pre-Distribution Stock Value; divided by
(II) the Spinco Post-Distribution Stock Value, rounded down to the nearest whole number; and 

(C)    the performance criteria and performance targets under each Adjusted Parent PSU Award and each
SpinCo PSU Award subject to this Section 6.01(a)(ii)(A) will be subject to equitable adjustment in connection with the Distribution as determined appropriate or required in the sole discretion of the Parent Compensation
Committee; provided, however, that nothing in this clause (C) shall limit the authority of the Parent Compensation Committee (with respect to Adjusted Parent PSU Awards) or of the compensation committee of SpinCo (with respect to SpinCo PSU
Awards) to exercise its discretion or make adjustments to such awards following the Distribution. 

(b)    Miscellaneous Award Terms.  

(i)     After the Spin-off Date, Adjusted Parent Awards, regardless of by
whom held, will be obligations retained by and settled by Parent (from the Parent Equity Plan), and SpinCo Awards, regardless of by whom held, will be obligations assumed by and settled by SpinCo (from the SpinCo Equity Plan), in each case, without
reimbursement by the other Party. Except as otherwise provided in this Agreement, with respect to grants described in this Section 6.01, no SpinCo Employee will be treated as having incurred a termination of employment with
respect to any Parent Award solely by reason of the transfer of employment to SpinCo. In addition, none of the Separation, the Distribution, or any employment transfer described in Section 2.04 will constitute a termination
of employment for any Employee for purposes of any Adjusted Parent Award or any SpinCo Award. Following the Spin-off Date, for any award adjusted under this Section 6.01, any
reference to a “change in control,” “change of control” or similar definition in an award agreement, Employment Agreement or Parent Equity Plan applicable to such award (1) with respect to Adjusted Parent Awards, will be
deemed to refer to a “change in control,” “change of control” or similar definition as set forth in the applicable award agreement, Employment Agreement or Parent Equity Plan, and (2) with respect to SpinCo Awards, will be
deemed to refer to a “Change in Control” as defined in the SpinCo Equity Plan unless otherwise provided in an Employment Agreement between the holder and SpinCo or a subsidiary thereof; provided, however, to the extent that any such award
constitutes “nonqualified deferred compensation” for purposes of Code Section 409A, and payable upon a “change in control event” for purposes of Code Section 409A, then such award shall be settled in accordance with its
original terms. 
 (ii)    If, after the Spin-off Date, (A) the Parties
determine it to be in their mutual best interest that an individual’s employment is transferred to the SpinCo Group or to the CES Group in accordance with Section 2.04 or (B)

  
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either Party identifies an administrative error in the individuals identified as holding Adjusted Parent Awards or SpinCo Awards, the amount of awards held by such individuals, the vesting level
of such awards, or any other similar error, then the Parties will mutually cooperate in taking such actions as are necessary or appropriate to place, as nearly as reasonably practicable, the individual and Parent or SpinCo, as applicable, in the
position in which they would have been had such transfer or error not occurred. 
 (c)    Tax Reporting and
Withholding. Following the Spin-off Date, it is expected that: (i) Parent will be responsible for all income, payroll and other tax remittance and reporting related to income of Retained Employees,
Parent Former Employees, and, to the extent required, individuals who are or were Parent non-employee directors in respect of Adjusted Parent Awards; and (ii) SpinCo will be responsible for all income,
payroll and other tax remittance and reporting related to income of SpinCo Employees and SpinCo Former Employees in respect of SpinCo Awards; subject, in both cases, to the terms and conditions of the Israeli Tax Ruling. Parent or SpinCo, as
applicable, will facilitate performance by the other Party of its obligations hereunder by promptly remitting amounts or shares withheld in conjunction with a transfer of shares or cash, either (as mutually agreed by the Parties) directly to the
applicable taxing authority or to the other Party for remittance to such taxing authority. The Parties will cooperate and communicate with each other and with third-party providers to effectuate withholding and remittance of taxes, as well as
required tax reporting, in a timely, efficient and appropriate manner. If Parent or SpinCo determines in its reasonable judgment that any action required under this Section 6.01 will not achieve the intended tax, accounting
and legal results, including, without limitation, the intended results under Code Section 409A or FASB ASC Topic 718 – Stock Compensation, then at the request of Parent or SpinCo, as applicable, Parent and SpinCo will mutually cooperate in
taking such actions as are necessary or appropriate to achieve such results, or most nearly achieve such results if they originally-intended results are not fully attainable. 

(d)    Registration and Other Regulatory Requirements; Israeli Tax Ruling. Prior to the Spin-off Date (and in any case before the date of issuance of any SpinCo Shares pursuant to the SpinCo Equity Plan), SpinCo agrees to file a Form S-8 registration statement
(or any other required forms) with respect to, and to cause to be registered pursuant to applicable Law, the SpinCo Shares authorized for issuance under the SpinCo Equity Plan, or such similar registration as may be required by applicable local Law.
The Parties will take such additional actions as are deemed necessary or advisable to effectuate the foregoing provisions of this Section 6.01, including compliance with securities Laws and other legal requirements
associated with equity compensation awards in affected non-U.S. jurisdictions. Notwithstanding anything to the contrary, treatment of each outstanding Parent RSU Award, Parent PSU Award, SpinCo RSU Award and
SpinCo PSU Award, as set forth in this Section 6.01 held by (or for the benefit of) Israeli holders shall be subject to the terms and conditions of the Israeli tax ruling governing the subject matter (the “Israeli
Tax Ruling”). 

  
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 (e)    Further Adjustments. Notwithstanding the foregoing
provisions of this Section 6.01, the Parent Board (or a committee authorized by the Parent Board) may determine, in its sole discretion, not to adjust certain outstanding Parent equity-based awards pursuant to the foregoing provisions of
this Section 6.01 where (i) those actions would create or trigger adverse legal, accounting or tax consequences for Parent, SpinCo and/or the affected award holders, or (ii) where the Parent Board (or such other
committee authorized by the Parent Board) determines that an adjustment in accordance with the terms provided above is inappropriate due to distortions in either Parent or SpinCo’s share values due, among other things, to an unforeseen
temporary market event unrelated to Parent or SpinCo. In such circumstances, Parent and/or SpinCo may take any action necessary or advisable to prevent any such adverse legal, accounting or tax consequences or distortions, including
(x) agreeing that the outstanding Parent equity-based awards of the affected award holders will terminate in accordance with the terms of the Parent Equity Plans and the underlying award agreements, in which case Parent will equitably
compensate the affected award holders in an alternate manner determined by Parent in its sole discretion, or (y) apply an alternate adjustment method. Where and to the extent required by applicable Law or tax considerations outside the United
States, the adjustments described in this Section 6.01 will be deemed to have been effectuated immediately prior to the Spin-off Date. 

(f)    Code Section 409A. Notwithstanding any other provision of this Agreement to the contrary,
in the case of any Parent RSU Award or Parent PSU Award, all conversions and adjustments pursuant to this Section 6.01 will be made taking into account the requirements of Code Section 409A, to the extent applicable.

 Section 6.02    Bonus and Incentive Plans. 

(a)    Generally. The SpinCo Group will retain (or assume) and be responsible for all bonus payments and other cash
incentive payments to SpinCo Employees and SpinCo Former Employees in respect of any plan period, and the CES Group will retain (or assume) and be responsible for all bonus payments and other cash incentive payments to Retained Employees and Parent
Former Employees in respect of any plan period. In furtherance of the foregoing, the Parent Compensation Committee (with respect to any such bonus or cash incentive obligations to Retained Employees and Parent Former Employees) and the compensation
committee of SpinCo (with respect to any such obligations to SpinCo Employees and SpinCo Former Employees) shall have the authority to determine the satisfaction of applicable performance conditions and to exercise discretion or make adjustments to
such obligations following the Spin-off Date. 
 (b)    Phantom Awards.
Each Parent Phantom Award shall, for applicable purposes of this Agreement, be considered a Parent RSU Award and shall be subject to conversion as described in Section 6.01(a)(i)(A) or
Section 6.01(a)(i)(B), as applicable; provided, however, that, for the avoidance of doubt, any Parent Phantom Award adjusted pursuant to this Section 6.02(b) will remain subject to
the same underlying terms and conditions as the original Parent Phantom Award (including, but not limited to, the fact that such award shall be settled in cash). 

  
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 (c)    Stock Bonus Program. 

(i)    The SpinCo Group will be responsible for all bonus payments to SpinCo Employees and SpinCo Former Employees under
Parent’s Stock Bonus Program in respect of any bonus period for which the scheduled delivery date has not yet occurred as of the Spin-off Date. Any portion of an annual bonus payout that a SpinCo Employee
or SpinCo Former Employee has elected to receive in Parent Shares under the Stock Bonus Program will instead be paid in SpinCo Shares and (other than the settlement in SpinCo Shares) such portion of the annual bonus payout will be subject to the
same terms and conditions (including, but not limited to, the discount rate, valuation methodology, payment schedule, and vesting schedule, if applicable) as set forth in the Stock Bonus Program and applicable enrollment form. Notwithstanding the
foregoing, if the Value Date (as defined in the Stock Bonus Program) for a Stock Bonus Program bonus period occurs prior to the Spin-off Date but the scheduled delivery date for such bonus period occurs
following the Spin-off Date, then any portion of the annual bonus payout that a SpinCo Employee or SpinCo Former Employee elected to receive in Parent Shares will instead be valued in SpinCo Shares immediately
following the Spin-off Date and settled in SpinCo Shares on the original scheduled delivery date (and, for the avoidance of doubt, any valuation in Parent Shares that occurred prior to the Spin-off Date shall be disregarded). 
 (ii)    Each restricted stock unit award
granted to an Employee under Parent’s Stock Bonus Program that is outstanding and remains subject to vesting as of the Spin-off Date shall, for purposes of this Agreement, be treated as a Parent RSU Award
and shall be subject to conversion as described in Section 6.01(a)(i)(A) or Section 6.01(a)(i)(B), as applicable. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.01    Transfer of Records. Parent will transfer to SpinCo any and all employment records and
information (including any Form I-9, Form W-2 or other Internal Revenue Service forms or foreign jurisdiction equivalents, personnel files, performance reviews and other
employment related information) with respect to SpinCo Employees and other records reasonably required by SpinCo to enable SpinCo properly to carry out its obligations under this Agreement. In addition, to the extent applicable, SpinCo will transfer
to Parent any and all employment records and information with respect to Retained Employees and other records reasonably required by Parent to enable Parent properly to carry out its obligations under this Agreement. In each case, such transfer of
records generally will occur as soon as administratively practicable on or after the Spin-off Date. Each Party will permit the other Party reasonable access to Employee records to the extent reasonably
necessary for such accessing Party to carry out its obligations 

  
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hereunder and/or respond to any complaints or otherwise carry out any necessary business purpose following the Spin-off Date. Any transfer required
hereunder will be required only to the extent required or permitted by applicable local Law. 

Section 7.02    Cooperation. Each Party will upon reasonable request provide the other Party and the other
Party’s respective Affiliates, agents and vendors all information reasonably necessary to the other Party’s performance of its obligations hereunder. The Parties agree to use commercially reasonable efforts and to cooperate with each other
to carry out their obligations hereunder and to effectuate the terms of this Agreement. Without limiting the generality of the foregoing, (a) Parent shall provide to SpinCo all information relating to the performance of the CES Group following
the Distribution that is necessary for SpinCo to calculate any performance bonuses or similar obligations payable to any SpinCo Employee or SpinCo Former Employee for the performance period in which the Distribution occurs and (b) SpinCo shall
provide to Parent all information relating to the performance of the SpinCo Group following the Distribution that is necessary for Parent to calculate any performance bonuses or similar obligations payable to any Retained Employee or Parent Former
Employee for the performance period in which the Distribution occurs. 
 Section 7.03    Tax Benefits. If
any member of the CES Group remits a payment to a Tax Authority for Taxes on behalf of any SpinCo Employee or a SpinCo Former Employee, SpinCo shall remit to Parent the amount for which it is liable within thirty (30) days after receiving
written notification requesting such amount. If any member of the SpinCo Group remits a payment to a Tax Authority for Taxes on behalf of any Retained Employee or any Parent Former Employee, Parent shall remit to SpinCo the amount for which it is
liable within thirty (30) days after receiving written notification requesting such amount. Effective as of the Spin-off Date, the CES Group will be entitled to all Employee Recoupment Assets in respect
of all Employees and Former Employees to the extent that the Employee Recoupment Asset relates to a payment made by the CES Group. The SpinCo Group will be entitled to all Employee Recoupment Assets in respect of SpinCo Employees and SpinCo Former
Employees to the extent that the Employee Recoupment Asset relates to a payment made by the SpinCo Group. 

Section 7.04    Compliance. The agreements and covenants of the Parties hereunder will at all times be subject
to the requirements and limitations of applicable Law (including local Laws, rules and customs relating to the treatment of benefit plans) and collective bargaining agreements, and/or social consultation as applicable. Where an agreement or covenant
of a Party hereunder cannot be effected in compliance with applicable Law or an applicable collective bargaining agreement or social consultation requirement, the Parties agree to negotiate in good faith to modify such agreement or covenant to the
least extent possible in keeping with the original agreement or covenant in order to comply with applicable Law or such applicable collective bargaining agreement or social consultation requirement. Each provision of this Agreement is subject to and
qualified by this Section 7.04, whether or not such provision expressly states that it is subject to or limited by applicable Law or by applicable collective bargaining agreements. Each reference to the Code, ERISA, or the
Securities Act or any other Law will be deemed to include the rules, regulations, and guidance issued thereunder. 

  
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 Section 7.05    Preservation of Rights. Unless expressly
provided otherwise in this Agreement, nothing herein will be construed as a limitation on the right of the CES Group or the SpinCo Group to (a) amend or terminate any Benefit Plan or (b) terminate the employment of any Employee. 

Section 7.06    Not a Change in Control. The Parties acknowledge and agree that the Separation, Distribution
and other transactions contemplated by the Separation and Distribution Agreement and this Agreement do not constitute a “change in control” or a “change of control” for purposes of any Benefit Plan, any Employment Agreement or
any other agreement or arrangement. 
 Section 7.07    Reimbursements; Interest on Late Payments. The
Parties acknowledge and agree that the CES Group, on one hand, and the SpinCo Group, on the other hand, may incur costs and expenses (including payment of compensation) which are the responsibility of the other Party as set forth in this Agreement.
Accordingly, the Parties agree to reimburse each other for Liabilities and obligations for which such Party is responsible, and will provide such reimbursement reasonably promptly and in accordance with the terms of any agreement between the Parties
or their Affiliates addressing such matters. Payments pursuant to this Agreement that are not made by the date prescribed in this Agreement or, if no such date is prescribed, within thirty (30) days after written demand for payment is made,
shall accrue interest for the period from and including the date immediately following the due date therefor through and including the date of payment at a rate per annum equal to the Prime Rate plus two percent (2%) (compounded monthly). Such rate
shall be redetermined at the beginning of each calendar quarter following such due date. Such interest will be payable at the same time as the payment to which it relates and shall be calculated on the basis of a year of three hundred sixty-five
(365) days and the actual number of days for which due. 
 Section 7.08    Notices. Unless expressly
provided herein, all notices, requests, claims, demands or other communications under this Agreement shall be delivered in accordance with the requirements for the provision of notice set forth in Section 10.6 of the Separation and Distribution
Agreement. 
 Section 7.09    Procedures for Indemnification. For the avoidance of doubt, the procedures for
indemnification, including with respect to Third-Party Claims, set forth in Article IV of the Separation and Distribution Agreement shall apply to all Liabilities assumed or allocated to any Party pursuant to this Agreement. 

Section 7.10    Limitation on Enforcement. This Agreement is an agreement solely between the Parties. Nothing
in this Agreement, whether express or implied, will be construed to: (a) confer upon any current or former Employee of the CES Group or the SpinCo Group, or any other person any rights or remedies, including to any right to (i) employment
or recall; (ii) continued employment or continued service for any specified period; or (iii) claim any particular compensation, benefit or aggregation of benefits, of any kind or nature; or (b) create, modify, or amend any Benefit
Plan. 

  
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 Section 7.11    Disputes. The procedures for discussion,
negotiation, mediation and arbitration set forth in Article VII of the Separation and Distribution Agreement shall apply to all disputes, controversies or claims (whether sounding in contract, tort or otherwise) that may arise out of or relate to,
or arise under or in connection with, this Agreement. 
 Section 7.12    Third Party Consents. Without
limiting or otherwise modifying the provisions regarding Approvals or Notifications set forth in the Separation and Distribution Agreement, if the obligation of any Party under this Agreement depends upon the Approval or Notification of a Third
Party, such as a vendor or insurer, and that Approval or Notification is withheld, the Parties will use commercially reasonable efforts to implement the affected provisions of this Agreement to the fullest extent practicable; provided that,
except to the extent expressly provided in this Agreement or any of the Ancillary Agreements or as otherwise agreed between Parent and SpinCo, neither Parent nor SpinCo shall be obligated to contribute capital or pay any consideration in any form
(including providing any letter of credit, guaranty or other financial accommodation) to any Person in order to obtain or make such Approvals or Notifications. If any provision of this Agreement cannot be implemented due to the failure of a Third
Party to provide a required Approval or Notification, the Parties will negotiate in good faith to implement the provision in a mutually satisfactory manner, taking into account the original purpose of the affected provision. 

Section 7.13    Further Assurances and Consents. Without limiting or otherwise modifying the provisions of
Article VIII of the Separation and Distribution Agreement, in addition to the actions specifically provided for in this Agreement, each of the Parties will use reasonable best efforts to (a) execute and deliver such further instruments and
documents and take such other actions as the other Party may reasonably request to effectuate the purposes of this Agreement and to carry out the terms hereof, and (b) take, or cause to be taken, all actions and do, or cause to be done, all
things, reasonably necessary, proper or advisable under applicable Law and agreements or otherwise to consummate and make effective the transactions contemplated by this Agreement, including using reasonable best effort to obtain any required
consents and approvals and to make any filings and applications necessary or desirable to consummate the transactions contemplated by this Agreement; provided, that, except to the extent expressly provided in this Agreement or any of the
Ancillary Agreements or as otherwise agreed between Parent and SpinCo, no Party will be obligated to contribute capital or pay any consideration in any form therefor. 

Section 7.14    Effect if Distribution Does Not Occur. If the Distribution does not occur, then all actions
and events that are to be taken under this Agreement, or otherwise in connection with the Distribution, will not be taken or occur, except to the extent specifically provided by Parent. 

Section 7.15    Counterparts; Entire Agreement; Authority; Facsimile Signatures. 

(a)    Counterparts. This Agreement may be executed in one (1) or more counterparts (including by facsimile,
PDF or other electronic transmission), all of which shall be considered one (1) and the same agreement. 

  
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 (b)    Entire Agreement. This Agreement, together with the
Separation and Distribution Agreement and the other Ancillary Agreements, contain the entire agreement between the Parties with respect to the subject matter hereof, and supersede all previous agreements, negotiations, discussions, writings,
understandings, commitments and conversations with respect to such subject matter. 
 (c)    Authority. Parent
represents on behalf of itself, and SpinCo represents on behalf of itself, as follows: 
 (i)    it has the requisite
corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

(ii)    this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it
enforceable in accordance with the terms hereof. 
 Section 7.16    Governing Law. This Agreement shall be
governed by and construed and interpreted in accordance with the Laws of the State of Delaware without regard to rules of conflicts of laws. 

Section 7.17    Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit
of the Parties and their respective successors and permitted assigns; provided, that neither Party may assign any of its rights or assign or delegate any of its obligations under this Agreement without the express prior written consent of the
other Party. 
 Section 7.18    No Third Party Beneficiaries. The provisions of this Agreement are solely
for the benefit of the Parties and their respective Subsidiaries, Affiliates, successors and assigns and will not be deemed to confer upon any other Person any remedy, claim, liability, reimbursement, cause of action or other right in excess of
those existing without reference to this Agreement. Nothing in this Agreement is intended to amend any Benefit Plan or affect Parent or SpinCo or the applicable plan sponsor’s right to amend or terminate any Benefit Plan pursuant to the terms
of such Benefit Plan. No Employee or Former Employee, officer, director, or independent contractor or any other individual associate therewith shall be regarded for any purpose as a third-party beneficiary of this Agreement. 

Section 7.19    Severability. If any provision of this Agreement or the application thereof to any Person or
circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which
it has been held invalid, void or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby. Upon such determination, the Parties shall negotiate in good faith in an effort to agree upon
such a suitable and equitable provision to effect, as closely as possible, the original intent of the Parties. 

  
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 Section 7.20    No Set Off. Except as mutually agreed to in
writing by the Parties, neither Party nor any other member of such Party’s Group shall have any right of set-off or other similar rights with respect to (a) any amounts payable pursuant to this
Agreement or (b) any other amounts claimed to be owed to the other Party or any other member of its Group arising out of this Agreement. 

Section 7.21    Survival of Covenants. Except as expressly set forth in this Agreement, the covenants and
agreements contained in this Agreement, and Liability for the breach of any such obligations contained herein, shall survive the Separation and the Distribution and shall remain in full force and effect. 

Section 7.22    Waivers of Default; Remedies Cumulative. Waiver by a Party of any default by the other Party
of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the other Party. No failure or delay by a Party in exercising any right, power or privilege
under this Agreement shall operate as a waiver thereof, nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege. All rights and remedies existing under
this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

Section 7.23    Amendments. No provisions of this Agreement may be waived, amended, supplemented or modified,
unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the Party against whom it is sought to enforce such waiver, amendment, supplement or modification. 

Section 7.24    Specific Performance. Subject to the provisions of Article VII of the Separation and
Distribution Agreement, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party or Parties who are, or are to be, thereby aggrieved shall have the right to specific
performance and injunctive or other equitable relief in respect of its or their rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties
agree that the remedies at law for any breach or threatened breach, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived.
Any requirements for the securing or posting of any bond with such remedy are waived by each of the Parties. 

Section 7.25    Mutual Drafting. This Agreement shall be deemed to be the joint work product of the Parties,
and any rule of construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable. 

Section 7.26    Predecessors or Successors. Any reference to Parent, SpinCo, a Person or a Subsidiary in this
Agreement shall include any predecessors or successors (e.g., by merger or other reorganization, liquidation or conversion) of Parent, SpinCo, such Person or such Subsidiary, respectively. 

  
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 Section 7.27    Change in Law. Any reference to a provision
of the Code or any other Tax Law shall include a reference to any applicable successor provision or Law. 

Section 7.28    Limitations of Liability. Notwithstanding anything in this Agreement or the Separation and
Distribution Agreement to the contrary, neither SpinCo or any other member of the SpinCo Group, on the one hand, nor Parent or any other member of the CES Group, on the other hand, shall be liable under this Agreement to the other for any indirect,
punitive, exemplary, remote, speculative or similar damages in excess of compensatory damages of the other (other than any such damages awarded to a Third Party with respect to a Third-Party Claim). 

Section 7.29    Performance. Parent shall cause to be performed, and hereby guarantees the performance of, all
actions, agreements and obligations set forth in this Agreement to be performed by any member of the CES Group. SpinCo shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth in this
Agreement to be performed by any member of the SpinCo Group. 
 Section 7.30    Incorporation.
Sections 10.10 (Headings) and 10.15 (Interpretation) the Separation and Distribution Agreement are hereby incorporated in this Agreement as if fully set forth herein. 

[Signatures set forth on following page] 

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their
authorized representatives. 
  

									
	Verint Systems Inc.	 	 	 	Cognyte Software Ltd.
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 	  	 	Name:	 	
	Title:	 		 		 	Title:	 	

 [Signature Page to Employee Matters Agreement]EX-4.3

 Exhibit 4.3 

FORM OF TRANSITION SERVICES AGREEMENT 

BETWEEN 
 VERINT SYSTEMS INC. 

AND 
 COGNYTE SOFTWARE LTD. 

DATED [●], 2021 
  

 
  

 FORM OF TRANSITION SERVICES AGREEMENT 

THIS TRANSITION SERVICES AGREEMENT dated [●], 2021 (this “Agreement”), is between Verint Systems Inc., a Delaware
corporation (“VSI”), and Cognyte Software Ltd., a company organized under the laws of the State of Israel (“SpinCo”). VSI and SpinCo are sometimes referred to herein individually as a “Party”, and
collectively as the “Parties”. 
 R E C I T A L S 

A.    SpinCo and VSI are parties to that certain Separation and Distribution Agreement dated as of the [●], 2021
(the “Separation and Distribution Agreement”). 
 B.    In connection with the Separation and
Distribution Agreement, the board of directors of VSI (the “VSI Board”) has determined that it is appropriate and desirable to make a distribution, on a pro rata basis and in accordance with a distribution ratio to be determined by
the VSI Board, to holders of VSI Shares on the Record Date of all the outstanding SpinCo Shares owned by VSI (the “Distribution”), and, immediately following the Distribution separate the SpinCo Business from the CES Business
(the “Separation”). 
 C.    In connection with the transactions contemplated by the Separation
and Distribution Agreement and in order to ensure a smooth transition following the Distribution and Separation, each Party desires that the other Party provide, or cause its Affiliates or contractors to provide, certain transition services on an arm’s-length basis. 
 In consideration of the forgoing and the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

1.1    Definitions. Unless otherwise defined herein, each capitalized term will have the meaning specified for such
term in the Separation and Distribution Agreement. As used in this Agreement: 
 “Additional SpinCo Service” has the
meaning set forth in Section 2.2(b). 
 “Additional VSI Service” has the meaning set forth in
Section 2.2(a). 
 “Agreement” has the meaning set forth in the Preamble. 

“Ancillary Agreements” means all agreements (other than this Agreement and the Separation and Distribution Agreement) entered
into by the Parties or members of their respective Groups (but as to which no Third Party is a party) in connection with the Separation, the Distribution or the other transactions contemplated by the Separation

 
and Distribution Agreement, including the Employee Matters Agreement, the Tax Matters Agreement, the Trademark Cross License Agreement, the Intellectual Property Cross License Agreement and the
Transfer Documents. 
 “Authorized Representative” means, for each Party, any of the individuals listed on
Annex A under the name of such Party. 
 “Availed Party” has the meaning set forth in
Section 5.2(b). 
 “Data Protection Laws” has the meaning set forth in
Section 5.2(a). 
 “Distribution” has the meaning set forth in the Recitals. 

“Fees” means the fees for a particular Service as set forth on Annex B or
Annex C as the case may be. 
 “Force Majeure” means, with respect to a Party, an event beyond
the reasonable control of such Party (or any Person acting on its behalf), which event (a) does not arise or result from the fault or negligence of such Party (or any Person acting on its behalf) and (b) by its nature would not reasonably
have been foreseen by such Party (or such Person), or, if it would reasonably have been foreseen, was unavoidable, and includes acts of God, acts of civil or military authority, embargoes, epidemics, pandemics, war, riots, insurrections, fires,
explosions, earthquakes, floods, unusually severe weather conditions, labor problems or unavailability of parts, or, in the case of computer systems, any significant and prolonged failure in electrical or air conditioning equipment. 

“Materials” has the meaning set forth in Section 2.5(a). 

“Partial Termination” has the meaning set forth in Section 6.3(a). 

“Party” has the meaning set forth in the Preamble. 

“Payment Due Date” has the meaning set forth in Section 4.4. 

“Prime Rate” has the meaning set forth in Section 4.5. 

“Protected Data” has the meaning set forth in Section 5.2(a). 

“Safety and Security Policies” has the meaning set forth in Section 5.2(b). 

“Sales Taxes” has the meaning set forth in Section 4.2. 

“Separation” has the meaning set forth in the Recitals. 

“Separation and Distribution Agreement” has the meaning set forth in the Recitals. 

“Service Coordinators” has the meaning set forth in Section 7.8. 

  
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 “Service Provider” means (a) in the case of VSI Services, VSI or any
of its Subsidiaries providing a VSI Service hereunder, or (b) in the case of SpinCo Services, SpinCo or any of its Subsidiaries providing a SpinCo Service hereunder. 

“Service Recipient” means (a) in the case of VSI Services, SpinCo or any of its Subsidiaries receiving a VSI Service
hereunder, or (b) in the case of SpinCo Services, VSI or any of its Subsidiaries receiving a SpinCo Service. 
 “Service
Recipient Data” means all of the data and information owned and provided solely by the Service Recipient, or created by the Service Provider solely on behalf, or for the benefit, of the Service Recipient (including any such data and
information created by the Service Provider or the Service Recipient using the Service Provider’s computer systems or software) in relation to the provision of the Services. 

“Service Term” means the term for a particular Service as set forth on Annex B or
Annex C, as the case may be. 
 “Services” means the VSI Services or the SpinCo Services,
individually, or the VSI Services and the SpinCo Services, collectively, as the context may indicate. 
 “SpinCo” has the
meaning set forth in the Preamble. 
 “SpinCo Service Coordinator” has the meaning set forth in
Section 7.8. 
 “SpinCo Services” means the Services generally described on
Annex C and any other Service provided by SpinCo or any of its Subsidiaries pursuant to this Agreement. 

“Systems, Facilities and Data” has the meaning set forth in Section 5.2(b). 

“Term” has the meaning set forth in Section 6.1. 

“Term Extension” has the meaning set forth in Section 6.2. 

“VSI” has the meaning set forth in the Preamble. 

“VSI Board” has the meaning set forth in the Recitals. 

“VSI Group” means VSI and each Person that is a Subsidiary of VSI other than SpinCo and any other member of the SpinCo Group.

 “VSI Indemnitees” has the meaning set forth in Section 7.2. 

“VSI Service Coordinator” has the meaning set forth in Section 7.8. 

“VSI Services” means the Services generally described on Annex B and any other Service provided by
the VSI Group pursuant to this Agreement. 

  
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 ARTICLE II 

PERFORMANCE AND SERVICES 

2.1    General. 

(a)    During the Term, and subject to the terms and conditions of this Agreement, VSI will use commercially reasonable
efforts to provide, or cause to be provided, the VSI Services to SpinCo and its Subsidiaries. The applicable Fee for each VSI Service will be the specified Fee for such VSI Service set forth on Annex B, and the applicable
Service Term for each VSI Service will be the specified Service Term for such VSI Service set forth on Annex B, in each case, subject to adjustment for each Term Extension as provided in
Section 6.2. Notwithstanding anything to the contrary contained herein or on any Annex, VSI will have no obligation under this Agreement to: (i) operate the SpinCo Business or any portion thereof (it being acknowledged
and agreed by VSI and SpinCo that providing the VSI Services will not be deemed to be operating the SpinCo Business or any portion thereof); (ii) advance funds or extend credit to SpinCo; (iii) hire new employees for the purpose of
providing the VSI Services; (iv) provide VSI Services to any Person other than members of the SpinCo Group; or (v) implement new systems, processes, technologies, plans or initiatives developed, acquired or utilized by VSI whether before
or after the Distribution Date. 
 (b)    During the Term, and subject to the terms and conditions of this Agreement,
SpinCo will use commercially reasonable efforts to provide, or cause to be provided, the SpinCo Services to VSI and the other members of the VSI Group. The applicable Fee for each SpinCo Service will be the specified Fee for such SpinCo Service set
forth on Annex C, and the applicable Service Term for each SpinCo Service will be the specified Service Term for such SpinCo Service set forth on Annex C, in each case, subject to adjustment for
each Term Extension as provided in Section 6.2. Notwithstanding anything to the contrary contained herein or on any Annex, SpinCo will have no obligation under this Agreement to: (i) operate the CES Business or any
portion thereof (it being acknowledged and agreed by VSI and SpinCo that providing the SpinCo Services will not be deemed to be operating the CES Business or any portion thereof); (ii) advance funds or extend credit to VSI; (iii) hire new
employees for the purpose of providing the SpinCo Services; (iv) provide SpinCo Services to any Person other than members of the VSI Group; or (v) implement new systems, processes, technologies, plans or initiatives developed, acquired or
utilized by SpinCo whether before or after the Distribution Date. 
 (c)    Notwithstanding anything to the contrary in
this Agreement, neither VSI nor SpinCo (nor any of their respective Subsidiaries) will be required to perform Services hereunder or take any actions relating thereto that conflict with or violate any applicable Law, contract, license, sublicense,
authorization, certification or permit. 

  
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 2.2    Additional Unspecified Services. 

(a)    If SpinCo reasonably determines in good faith after the date hereof (but no later than the date that is two months
after the Spin-off Date) that additional transition services (not listed on Annex B) of the type previously provided by members of the VSI Group to support and assist the SpinCo
Business are necessary to support and assist SpinCo in the conduct of the SpinCo Business, and SpinCo or its Subsidiaries are not able to provide (themselves or through service providers) such services to the SpinCo Business, then SpinCo may provide
written notice thereof to VSI. Upon receipt of such notice by VSI, VSI will use commercially reasonable efforts to provide such additional service during the Term, subject to agreement between the Parties regarding an amendment to
Annex B setting forth the additional service (each such service an “Additional VSI Service”), the terms and conditions for the provision of such Additional VSI Service and the Fees payable by SpinCo for
such Additional VSI Service, such Fees to be determined on an arm’s-length basis. For the avoidance of doubt, VSI will have no obligation to provide any Additional VSI Services to the extent doing so
would negatively impact the business or operations or VSI or its Subsidiaries in any material respect. 
 (b)    If VSI
reasonably determines in good faith after the date hereof (but no later than the date that is two months after the Spin-off Date) that additional transition services (not listed on
Annex C) of the type previously provided by members of the SpinCo Group to support and assist the CES Business are necessary to support and assist VSI in the conduct of the CES Business, and VSI or its Subsidiaries are not
able to provide (themselves or through service providers) such services to the CES Business, then VSI may provide written notice thereof to SpinCo. Upon receipt of such notice by SpinCo, SpinCo will use commercially reasonable efforts to provide
such additional service during the Term, subject to agreement between the Parties regarding an amendment to Annex C setting forth the additional service (each such service an “Additional SpinCo Service”),
the terms and conditions for the provision of such Additional SpinCo Service and the Fees payable by VSI for such Additional SpinCo Service, such Fees to be determined on an arm’s-length basis. For the
avoidance of doubt, SpinCo will have no obligation to provide any Additional SpinCo Services to the extent doing so would negatively impact the business or operations or SpinCo or its Subsidiaries in any material respect. 

2.3    Service Requests. Any requests by a Party to the other Party regarding the Services or any modification or
alteration to the provision of the Services must be made by an Authorized Representative (it being understood that the receiving Party will not be obligated to agree to any modification or alteration requested thereby). Notwithstanding anything to
the contrary hereunder, each Party may avail itself of the remedies set forth in Section 6.4 without fulfilling the notice requirements of this Section 2.3. 

  
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 2.4    Access. 

(a)    Subject to Section 5.2, SpinCo, at the reasonable request of VSI, will make available on a
timely basis to VSI, all information reasonably requested by VSI to enable VSI to provide the VSI Services and the Additional VSI Services (if any). SpinCo will give VSI and its Affiliates, employees, agents and representatives, as reasonably
requested by VSI and subject to applicable Law and contractual obligations, reasonable access, during regular business hours and at such other times as are reasonably required, to the premises of the SpinCo Business for the purposes of providing the
VSI Services and the Additional VSI Services (if any). 
 (b)    Subject to Section 5.2, VSI,
at the reasonable request of SpinCo, will make available on a timely basis to SpinCo, all information reasonably requested by SpinCo to enable SpinCo to provide the SpinCo Services and the Additional SpinCo Services (if any). VSI will give SpinCo
and its Affiliates, employees, agents and representatives, as reasonably requested by SpinCo and subject to applicable Law and contractual obligations, reasonable access, during regular business hours and at such other times as are reasonably
required, to the premises of the CES Business for the purposes of providing the SpinCo Services and the Additional SpinCo Services (if any). 

2.5    Books and Records; Retention and Transfer of Materials and Service Recipient Data. 

(a)    For a period of 24 months following termination of this Agreement, the Service Provider will retain all books,
records, files, databases or computer software or hardware (including current and archived copies of computer files) (the “Materials”) with respect to matters relating to the Services provided to the Service Recipient hereunder that
are in a form and contain a level of detail substantially consistent with the records retention policies of the Service Provider prior to the Distribution Date. The Service Provider will make such Materials available to the Service Recipient for its
review, upon reasonable notice, at the Service Recipient’s expense, during regular business hours, including in order to verify disputed charges under Section 4.6. If at any time during the 24-month period following the termination of this Agreement, the Service Recipient reasonably requests in writing that certain Materials be delivered to the Service Recipient, the Service Provider promptly will
arrange for the delivery of the requested Materials in the form in which such Materials are then maintained by the Service Provider to a location specified by, and at the expense of, the Service Recipient. As promptly as practicable following the
expiration of the Service Term (or earlier termination pursuant to Section 6.3) of a Service, the Service Provider will, upon request, use commercially reasonable efforts to furnish to the Service Recipient, and assist in
the transition of Materials belonging to the Service Recipient and relating to such Service as clearly identified by the Service Recipient, in an industry standard or mutually agreed upon data format. For the avoidance of doubt, the obligations in
this Section 2.5 will in no way derogate from any similar obligations set forth in Article VI of the Separation and Distribution Agreement. 

  
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 (b)    As between the Parties, the Service Recipient Data will be and
will remain the property of the Service Recipient. The Service Provider will use the Service Recipient Data solely to provide the Services to the Service Recipient as set forth herein and for no other purpose whatsoever. During the Term, the Service
Provider will, to the extent reasonably practicable and subject to Data Protection Laws, promptly provide the Service Recipient Data to the Service Recipient upon the Service Recipient’s reasonable request and at the Service Recipient’s
expense. As promptly as practicable following the termination or expiration of this Agreement for any reason, the Service Provider will, upon request, use commercially reasonable efforts to deliver to the Service Recipient or destroy (and certify
such destruction in writing if so requested by the Service Recipient), at Service Recipient’s option, all Service Recipient Data; provided, however, that the Service Provider will not be required to erase or destroy Service
Recipient Data included in computer files stored securely by the Service Provider that are created during automatic system backups. 

(c)    Notwithstanding anything herein to the contrary, and subject to Section 5.1, the Service
Provider may retain copies of the Materials and the Service Recipient Data in accordance with policies and procedures implemented by the Service Provider to comply with applicable Law (including Data Protection Laws), professional standards or
reasonable business practice, including document retention policies as in effect from time to time (which policies will be made available to the Service Recipient upon request). 

2.6    Permits and Third-Party Consents. The Service Provider will use commercially reasonable efforts to obtain
any permits, licenses, approvals or third-party consents necessary to provide the Services, the reasonable cost of which will be payable by Service Recipient to the extent such costs are incurred for the purpose of providing the Services. 

2.7    No Reporting Obligations. Notwithstanding anything to the contrary contained in this Agreement or any Annex
hereto, none of the Service Provider or any of its Affiliates, or any of their respective Representatives, will be obligated, pursuant to this Agreement or any Annex hereto, as part of or in connection with the Services provided hereunder, as a
result of storing or maintaining any data referred to herein or in any Annex hereto, or otherwise, to prepare or deliver any notification or report to any Governmental Authority or other Person on behalf of Service Recipient or any of its
Affiliates, or any of their respective Representatives. 
 ARTICLE III 

SERVICE QUALITY; INDEPENDENT CONTRACTOR 

3.1    Service Quality. 

(a)    The Service Provider will perform the Services in a manner and quality that is substantially consistent with the
Party’s past practice (including as to quantity) in performing the Services for the SpinCo Business or CES Business, as 

  
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applicable, and in any event in compliance with any terms or service levels set forth on the applicable Annex. The Service Recipient will use the Services in substantially the same manner and on
substantially the same scale as they were used by such Party and its Affiliates in the past practice of the SpinCo Business or CES Business, as applicable, prior to the Distribution Date. 

(b)    Each Party acknowledges and agrees that certain of the Services to be provided under this Agreement have been, and
will continue to be provided (in accordance with this Agreement and the Annexes hereto) to the CES Business or the SpinCo Business, as applicable, by third parties designated by the Party responsible for providing such Services hereunder. To the
extent so provided, the Party responsible for providing such Services will use commercially reasonable efforts to (i) cause such third parties to provide such Services in accordance with this Agreement and/or (ii) enable the Party seeking
the benefit of such Services and its Subsidiaries to avail itself of such Services; provided, however, that if any such third party is unable or unwilling to provide any such Services, the Parties agree to use their commercially
reasonable efforts to determine the manner, if any, in which such Services can best be provided (it being acknowledged and agreed that any costs or expenses to be incurred in connection with obtaining a third party to provide any such Services will
be paid by the Party to which such Services are provided; provided further that the Party responsible for providing such Services will use commercially reasonable efforts to communicate the costs or expenses expected to be incurred in
advance of incurring such costs or expenses). 
 3.2    Independent Contractor; Assets; Subcontractors.

 (a)    The Parties are independent contractors. All employees and representatives of a Party and any of its
Subsidiaries involved in providing Services will be under the exclusive direction, control and supervision of the Party or its Subsidiaries (or their subcontractors) providing such Services, and not of the Service Recipient. The Party or its
Subsidiaries (or their subcontractors) providing the Services will be solely responsible for compensation of its employees, and for all withholding, employment or payroll taxes, unemployment insurance, workers’ compensation, and any other
insurance and fringe benefits with respect to such employees. The Party or its Subsidiaries (or their subcontractors) providing the Services will have the exclusive right to hire and fire any of its employees in accordance with applicable Law. The
Service Recipient will have no right to direct and control any of the employees or representatives of the Party or its Subsidiaries (or their subcontractors) providing such Services. 

(b)    All procedures, methods, systems, strategies, tools, equipment, facilities, software, data and other resources used
by a Party, any of its Subsidiaries or any third party service provider in connection with the provision of the Services hereunder will remain the property of such Party, its Subsidiaries or such service providers and, except as otherwise provided
herein, will at all times be under the sole direction and control of such Party, its Subsidiaries or such third party service provider. Without limiting any license set forth in that certain Intellectual Property Cross License Agreement between the
Parties, and that certain Trademark Cross License Agreement 

  
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between the Parties, or any other agreement between the Parties, no license under any patents, know-how, trade secrets, copyrights or other rights is
granted by this Agreement or any disclosure in connection with this Agreement by either Party. 
 (c)    The Service
Provider may hire or engage one or more subcontractors to perform any or all of its obligations under this Agreement; provided that (a) the Service Provider will use the same degree of care in selecting any such subcontractor as it would
if such contractor was being retained to provide similar services to the Service Provider; and (b) unless otherwise agreed by the Parties in a separate agreement with express reference to this Agreement, the Service Provider will in all cases
remain primarily responsible for all of its obligations hereunder with respect to the scope of the Services, the standard for services as set forth in Article III and the content of the Services provided to the Service Recipient as if it were
providing such services itself. The Service Provider may replace a subcontractor providing Services under this Agreement without the consent of the Service Recipient provided that the costs of the replacement subcontractor are not materially higher
than the costs for such previous subcontractor. The Service Provider will provide notice to the Service Recipient prior to replacing or hiring new subcontractors whenever reasonably possible. 

3.3    Uses of Services. The Service Provider will be required to provide the Services only to the Service
Recipient and the Service Recipient’s Subsidiaries in connection with the Service Recipient’s operation of the SpinCo Business or CES Business, as applicable. The Service Recipient may not resell any Services to any Person whatsoever or
permit the use of such Services by any Person other than in connection with (a) the operation of the SpinCo Business or CES Business, as applicable, in the ordinary course of business or (b) effecting the Separation. 

3.4    Modification of Services. The Parties agree that each Service Provider may make changes from time to time in
the manner of performing the applicable Service if such Service Provider is making similar changes in performing similar services for itself, its Affiliates or other third parties, if any, provided that such Service Provider furnishes to the
Service Recipient substantially the same notice (in content) as such Service Provider provides to its Affiliates or third parties, if any, respecting such changes; provided further that each Service Provider may make any of the
following changes without obtaining the prior consent of, and without prior notice to, the Service Recipient: (a) changes to the process of performing a particular Service that do not adversely affect the benefits to the Service Recipient in
any material respect or materially increase the charge for such Service; (b) emergency changes on a temporary and short-term basis; and (c) changes to a particular Service in order to comply with applicable Law. 

3.5    Right to Suspend Services. Notwithstanding anything to the contrary in this Agreement, neither Service
Provider will be required to provide, and will incur no liability for not providing, all or any part of any Service to the extent: (a) the performance of such Service would require such Service Provider to violate any applicable Law, (b) a
third party service provider or other third party asset used to provide any Service ceases to be, or otherwise is not, available to such Service 

  
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Provider on commercially reasonable terms, or (c) prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure; provided that (i) in the case of
clauses (a) and (b), (A) only to the extent reasonably necessary for such Service Provider to address the issue raised; (B) to the extent practicable, only after such Service Provider has applied commercially reasonable efforts to
reduce the amount or effect of any such restrictions; and (C) if such Service Provider has delivered written notice thereof to the Service Recipient; and (ii) in the case of clause (c), only to the extent provided in
Section 8.7. 
 3.6    Transition of Responsibilities. Each Party agrees to use
commercially reasonable efforts to reduce or eliminate its and its Subsidiaries’ dependence on each Service as soon as is reasonably practicable. Each Party agrees to cooperate with the other Party to facilitate the smooth transition of the
Services being provided to the Service Recipient by the Service Provider. 
 3.7    Disclaimer of Warranties.
Except as expressly set forth in this Agreement: (i) each Party acknowledges and agrees that the other Party makes no warranties of any kind with respect to the Services or access to Systems, Facilities and Data to be provided hereunder; and
(ii) each Party hereby expressly disclaims all warranties with respect to the Services or access to Systems, Facilities and Data to be provided hereunder, as further set forth immediately below. 

EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE SERVICES OR ACCESS TO SYSTEMS, FACILITIES AND DATA TO BE PROVIDED UNDER THIS AGREEMENT
WILL BE PROVIDED AS-IS, WHERE-IS, WITH ALL FAULTS, AND WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF
NON-INFRINGEMENT, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, CONFORMITY TO ANY REPRESENTATION OR DESCRIPTION, TITLE OR ANY OTHER WARRANTY WHATSOEVER. 

ARTICLE IV 
 FEES; PAYMENT

 4.1    Fees. The Service Recipient will pay the Service Provider the Fees for the Services provided by such
Service Provider under this Agreement. The Fees for the VSI Services are set forth on Annex B and the Fees for the SpinCo Services are set forth on Annex C, in each case, subject to adjustment for
each Term Extension as provided in Section 6.2. 
 4.2    Taxes. All Fees to be paid
are exclusive of any applicable taxes required by Law to be collected from the Service Recipient (including sales, use, excise or service tax, which may be assessed on the provision of any Service). If a withholding, sales, use, excise, services or
similar tax is assessed on the provision of any of the Services, the Service Recipient will pay directly, or reimburse or indemnify the Service Provider for, such tax. In addition to any amounts otherwise payable hereunder, the

  
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Service Recipient will be responsible for any and all sales, use, excise, services or similar taxes imposed on the provision of goods and services by the Service Provider to the Service Recipient
(“Sales Taxes”) and will either (a) remit such Sales Taxes to the Service Provider (and the Service Provider will remit the amounts so received to the applicable Governmental Authority) or (b) provide the Service Provider
with a certificate or other proof, reasonably acceptable to the Service Provider evidencing an exemption from liability for such Sales Taxes. The Parties further agree that, notwithstanding the foregoing, neither Party will be required to pay any
franchise taxes, taxes based on the income of the other Party or personal property taxes on property owned or leased by a Party and used by such Party to provide Services. 

4.3    Invoices and Payment. Unless otherwise specified in Annex B or
Annex C, within 30 days following the end of each month during the Term (or within 30 days after receipt of a third party supplier’s invoice in the case of Services that are provided by a third party
supplier), the Service Provider will submit to the Service Recipient for payment a written statement of amounts due under this Agreement for such month. The statement will set forth the Fees, in the aggregate and itemized, based on the descriptions
set forth on Annex B or Annex C, as the case may be. Each statement will specify the nature of any amounts due for any Fees as set forth on Annex B or
Annex C and will contain reasonably satisfactory documentation in support of such amounts as specified therein and such other supporting detail as the Service Recipient may reasonably require to validate such amounts due.
All fees for Services provided by third party suppliers will be charged on a straight, pass-through basis and without mark-up of any kind. 

4.4    Timing of Payment. Unless otherwise specified in Annex B or
Annex C, the Service Recipient will pay all amounts due pursuant to each invoice under this Agreement no later than 30 days following the Service Recipient’s receipt of such invoice (or, in the case of Services
that are provided by a third party supplier, no later than 30 days following receipt of invoice by the Service Recipient) (the “Payment Due Date”). 

4.5    Non-Payment; Offsets. If either Party fails to pay the full amount
of any invoice by the Payment Due Date, such failure will be considered a material default under this Agreement. In the event that the Service Provider is not paid in full under this Agreement, and has not been paid within two business days
following notification for a failure to pay, such Service Provider will be entitled to offset amounts owed to the Service Recipient under the other agreements entered into between the Parties in connection with the transactions contemplated by the
Separation and Distribution Agreement. The remedies provided to each Party by this Section 4.5 and by Section 6.4 will be cumulative with respect to any other applicable provisions of this
Agreement. Payments made after the date they are due will bear interest at an annual rate equal to that published by The Wall Street Journal as its prime rate (the “Prime Rate”) plus 2.0% (compounded monthly), provided
that in no event will the aggregate amount of interest accrued in relation to any overdue payment exceed 10% of the entire amount of such payment. 

  
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 4.6    Payment Disputes. The Service Recipient may object to any
amounts for any Service invoiced to it at any time before, at the time of, or after payment is made, provided such objection is made in writing to the Service Provider within 60 days following receipt of invoice by the Service Recipient. The
Service Recipient will timely pay the disputed items in full while resolution of the dispute is pending; provided, however, that the Service Provider will pay interest at an annual rate equal to the Prime Rate plus 2.0% (compounded
monthly) on any amounts it is required to return to the Service Recipient upon resolution of the dispute, provided further that in no event will the aggregate amount of interest accrued in relation to any returned payment exceed 10% of
the amount of such returned payment. Payment of any amount will not constitute approval thereof. Any dispute under this Section 4.6 will be resolved in accordance with the provisions of
Section 7.9. 
 ARTICLE V 

CONFIDENTIALITY 

5.1    Confidentiality. Each Party agrees that the specific terms and conditions of this Agreement (to the extent
not otherwise publicly disclosed by the Parties in connection with the Separation and Distribution) and any information, Service Recipient Data and Materials conveyed or otherwise received by or on behalf of a Party in conjunction herewith are
confidential and are subject to the terms of the confidentiality provisions set forth in Section 6.8 of the Separation and Distribution Agreement. 

5.2    Security. 

(a)    In this Section 5.2, the terms “personal data,” “personal information”
and “processing” will have the same meaning ascribed to them as under applicable data protection, privacy or similar Laws in the relevant country (the “Data Protection Laws”). Notwithstanding
Section 5.2(b), each party will comply with Data Protection Laws that may apply in relation to any personal data or personal information processed in connection with this Agreement (the “Protected Data”).

 (b)    If either Party (including its Affiliates and their employees, authorized agents and subcontractors) is given
access to the other Party’s computer systems or software, premises, equipment, facilities or data (including Protected Data) (individually and collectively, “Systems, Facilities and Data”) in connection with the Services, the
Party given access (the “Availed Party”) will comply with (and will cause its Affiliates, and their employees, authorized agents and subcontractors to comply with) its policies and procedures in relation to the use of and access to
such systems, facilities and data (collectively, “Safety and Security Policies”) as if it were the Availed Party’s own such Systems, Facilities and Data and with all Data Protection Laws, and will not tamper with, compromise or
circumvent any safety, security or audit measures employed by such other Party. Upon the written request of the other party, the Availed Party will use commercially reasonable efforts to comply with the Safety and Security Policies of the other
party. The Availed Party will access and use only those Systems, Facilities and Data of the other Party for which it has been granted the right to access 

  
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and use in connection with the Services. All personnel given access to the Systems, Facilities and Data of the other Party will, upon request, execute a customary confidentiality and data access
agreement in form and substance reasonably acceptable to the owner of such Systems, Facilities and Data and in accordance with Data Protection Laws. 

(c)    In accordance with Data Protection Laws, each Party will use commercially reasonable efforts to ensure that only
those of its personnel who are specifically authorized to have access to the Systems, Facilities and Data of the other Party gain such access, and use commercially reasonable efforts to prevent unauthorized access, use, destruction, alteration or
loss of such Systems, Facilities and Data (including, in each case, any information contained therein), including notifying its personnel of the restrictions set forth in this Agreement and of the Safety and Security Policies. 

(d)    If, at any time, the Availed Party determines that any of its personnel or any third party has circumvented the
Safety and Security Policies, that any unauthorized Availed Party personnel or third party has accessed the Systems, Facilities and Data, or that any of its personnel or a third party has engaged in activities that lead to the unauthorized access,
use, destruction, alteration or loss of, or damage to, Systems, Facilities and Data, the Availed Party will promptly terminate any such person’s access to the Systems, Facilities and Data (if the access involves personnel) and promptly notify
the other Party of any such unauthorized access, use, destruction, alteration or loss of, or damage to, Systems, Facilities and Data. In addition, such other Party will have the right to deny personnel of the Availed Party access to its Systems,
Facilities and Data upon notice to the Availed Party in the event that the other Party reasonably believes that such personnel have engaged in any of the activities set forth above in this Section 5.2(d) or otherwise pose a
security concern. The Availed Party will use commercially reasonable efforts to cooperate with the other Party in investigating any apparent unauthorized access, use, destruction, alteration or loss of, or damage to, such other Party’s Systems,
Facilities and Data. 
 (e)    If any Systems, Facilities and Data of a Party are damaged (ordinary wear and tear
excepted) due to the conduct of the Availed Party or any of its Affiliates, or their employees, authorized agents or subcontractors, the Availed Party will be liable to the other Party for all costs associated with such damage, to the extent such
costs exceed any available insurance proceeds, in accordance with the terms of this Agreement. 
 ARTICLE VI 

TERMINATION 

6.1    Term. The initial term of this Agreement (the “Term”) will commence on the Distribution
Date and end on the earliest to occur of (a) the last date on which either Party is obligated to provide a Service pursuant to this Agreement, as specified in Annex B and Annex C, (b) the
date on which the provision of all Services has been 

  
 13 

 
terminated by the Parties pursuant to Section 6.3 and (c) the date this Agreement is terminated pursuant to Section 6.4; provided
that the end of the Term, including any Term Extension pursuant to Section 6.2, will not end later than the 24 month anniversary of the Distribution Date. 

6.2    Option to Extend Term. Either Party may request an extension of the Service Term for one or more Services by
providing written notice to the other at least 60 days in advance of the scheduled end date for such Service; provided that for any Services scheduled to conclude on or before the first anniversary of the date of this Agreement, such notice must be
provided by October 31, 2021. Following the provision of such a notice, the Parties agree to enter into good faith negotiations regarding any proposed extensions to the Service Term and appropriate increases to pricing. Following such
negotiations and upon mutual written agreement of the Parties prior to the end of the Service Term for such Service, the Parties may extend the Service Term of such Service for up to 180 days (or for such other period specified in
Annex B, Annex C or otherwise agreed to by the Parties in writing with respect to such Service, but no more than 180 days), on the terms and conditions contained in this Agreement (such
extension, a “Term Extension”). In the event a Term Extension for a Service would exceed the Term of this Agreement, the Term of this Agreement will be extended for the duration of the Term Extension (subject to the 24 month
limitation set forth in Section 6.1). 
 6.3    Partial Termination. 

(a)    The Service Recipient will provide no less than ten Business Day’s prior written notice (unless a shorter time
is mutually agreed upon by the Parties or unless otherwise specified in Annex B or Annex C with respect to a Service) to the Service Provider of any Services that, prior to the expiration of the
Service Term or Term Extension, for any reason, are no longer needed from the Service Provider, in which case this Agreement will terminate as to such Services (a “Partial Termination”). Notwithstanding the foregoing, a Partial
Termination during the first 12 months after the Spin-off Date will not relieve the Service Recipient from its obligation to pay the entire amount owed for such Service for the initial 12 month period. The
Parties will mutually agree as to the effective date of any Partial Termination. 
 (b)    Subject to
Section 6.3(a), in the event of any permitted termination prior to the scheduled expiration of the Service Term or of any Partial Termination hereunder, with respect to any terminated Services in which the Fee for such
terminated Services is charged as a flat monthly rate, if termination occurs other than the end of the month, there will be no proration of the monthly rate. To the extent any amounts due or advances made hereunder related to costs or expenses that
have been or will be incurred and that cannot be recovered by the Service Provider, such amounts due or advances made will not be prorated or reduced and the Service Provider will not be required to refund to the Service Recipient any prorated
amount for such costs or expenses; and the Service Recipient will reimburse the Service Provider for (i) Service Recipient’s proportional share of any third party costs or charges that are required to be paid in connection with the
provision of any Services and that cannot be terminated and (ii) any third party cancellation or similar charges incurred as a result of the Service Recipient’s early termination. 

  
 14 

 6.4    Termination of Entire Agreement. Subject to the provisions
of Section 6.6, a Party will have the right to terminate this Agreement or effect a Partial Termination effective upon delivery of written notice to the other Party if: 

(a)    the other Party or such other Party’s direct or indirect parent Affiliate makes an assignment for the benefit
of creditors, or becomes bankrupt or insolvent, or is petitioned into bankruptcy, or takes advantage (with respect to its own property and business) of any state, federal or foreign bankruptcy or insolvency act, or if a receiver or receiver/manager
is appointed for all or any substantial part of its property and business and such receiver or receiver/manager remains undischarged for a period of 30 days; 

(b)    the other Party materially defaults in the performance of any of its covenants or obligations contained in this
Agreement and such default is not remedied within 21 days after receipt of written notice by the defaulting Party informing such Party of such default; provided, however, that the
non-defaulting Party may seek a substitute third party service provider in accordance with Section 7.1(c) at the expense of the defaulting Party if such default is not remedied within
five business days after receipt of written notice by the defaulting Party informing such Party of such default; or 

(c)    the other Party or any of such other Party’s Affiliates engages in any act of gross negligence, willful
misconduct, fraud or reckless disregard. 
 6.5    Procedures on Termination. Following any termination of this
Agreement or Partial Termination, each Party will cooperate with the other Party as reasonably necessary to avoid disruption of the ordinary course of the other Party’s and its Subsidiaries’ businesses. Termination will not affect any
right to payment for Services provided prior to termination. 
 6.6    Effect of Termination.
Section 4.1 and Section 4.2 (in each case, with respect to Fees and Taxes attributable to periods prior to termination), Section 2.5,
Section 3.2, Section 4.3, Section 4.4, Section 4.5, Section 4.6, and Section 6.5, this
Section 6.6 and Article V, Article VII and Article VIII will survive any termination of this Agreement. In the event of a Partial Termination,
this Agreement will remain in full force and effect with respect to the Services which have not been terminated by the Parties as provided herein. For the avoidance of doubt, the termination of this Agreement with respect to the Services provided
under one Annex, but not the other Annex, will not be a termination of this Agreement. 

  
 15 

 ARTICLE VII 

INDEMNIFICATION AND DISPUTE RESOLUTION 

7.1    Limitation of Liability. 

(a)    No Party nor any of such Party’s Affiliates will be liable, whether in contract, tort (including negligence and
strict liability) or otherwise, for any special, indirect, punitive, incidental or consequential damages whatsoever that in any way arise out of, relate to, or are a consequence of, its performance or nonperformance hereunder, or the provision of or
failure to provide any Service hereunder, including loss of profits, loss of data, diminution in value, business interruptions and claims of customers, whether or not such damages are foreseeable or any Party has been advised of the possibility or
likelihood of such damages. 
 (b)    Except for Liabilities arising out of or related to the gross negligence, willful
misconduct or bad faith of the defaulting Party or in respect of negligence under Article V, in no event will a Party’s cumulative aggregate liability arising under or in connection with this Agreement (or the
provision of Services hereunder) exceed the amount of Fees paid or payable to such Party from the other Party pursuant to this Agreement in respect of the Service from which such Liability flows. 

(c)    Each Party will use commercially reasonable efforts to mitigate the Liabilities for which the other is responsible
hereunder, including, among other things, engaging a third-party provider reasonable under the circumstances in the event of a material default not remedied within five business days after receipt of written notice by the defaulting Party informing
such Party of such default (including in the event resulting in a termination by the non-breaching party under Section 6.4) and offsetting the reasonable expenses incurred against the
fees owed to the Service Provider hereunder. 
 7.2    Indemnification by SpinCo. SpinCo will indemnify, defend
and hold harmless each of VSI, each other member of the VSI Group and each of their respective past, present and future directors, officers, employees and agents, in each case in their respective capacities as such, and each of the heirs, executors,
successors and assigns of any of the foregoing (collectively, the “VSI Indemnitees”) for any Liabilities attributable to any third party claims asserted against them to the extent arising from or relating to: (a) any material
breach of this Agreement by SpinCo (including in the event resulting in a termination by VSI under Section 6.4); (b) any gross negligence, willful misconduct, fraud or bad faith by SpinCo, the other members of the
SpinCo Group, or its or their employees, suppliers or contractors, in the provision of the SpinCo Services by SpinCo, the other members of the SpinCo Group or its or their employees, suppliers or contractors pursuant to this Agreement; and
(c) the provision of the VSI Services by VSI, the other members of the VSI Group or its or their employees, suppliers or contractors, except to the extent that such third party claims for Liabilities are finally determined by a court of
competent jurisdiction to have arisen out of the material breach of this Agreement, gross negligence, willful misconduct or bad faith of VSI, the other members of the VSI Group or its or their employees, suppliers or contractors in providing the VSI
Services. 

  
 16 

 7.3    Indemnification by VSI. VSI will indemnify, defend and
hold harmless each of the SpinCo Indemnitees for any Liabilities attributable to any third party claims asserted against them to the extent arising from or relating to: (a) any material breach of this Agreement by VSI (including in the event
resulting in a termination by SpinCo under Section 6.4); (b) any gross negligence, willful misconduct, fraud or bad faith by VSI, the other members of the VSI Group, or its or their employees, suppliers or
contractors, in the provision of the VSI Services by VSI, the other members of the VSI Group or its or their employees, suppliers or contractors pursuant to this Agreement; and (c) the provision of the SpinCo Services by SpinCo, the other
members of the SpinCo Group or its or their employees, suppliers or contractors, except to the extent that such third party claims for Liabilities are finally determined by a court of competent jurisdiction to have arisen out of the material breach
of this Agreement, gross negligence, willful misconduct or bad faith of SpinCo, the other members of the SpinCo Group or its or their employees, suppliers or contractors in providing the SpinCo Services. 

7.4    Exclusive Remedy. Except for equitable relief and rights pursuant to Section 4.2,
Section 4.5 or Article V, the indemnification provisions of this Article VII will be the exclusive remedy for breach of this Agreement. 

7.5    Risk Allocation. Each Party agrees that the Fees charged under this Agreement reflect the allocation of risk
between the Parties, including the disclaimer of warranties in Section 3.7 and the limitations on liability in Section 7.1. Modifying the allocation of risk from what is stated here would affect
the Fees that each Party charges, and in consideration of those Fees, each Party agrees to the stated allocation of risk. 

7.6    Indemnification Procedures. All claims for indemnification pursuant to Section 4.2
or this Article VII will be made in accordance with the provisions set forth in Article IV of the Separation and Distribution Agreement. Notwithstanding anything to the contrary hereunder, neither Party may assert
against the other Party or submit to mediation or legal proceedings any cause of action, dispute or claim for indemnification which accrued more than two years after the later of (a) the occurrence of the act or event giving rise to the
underlying cause of action, dispute or claim and (b) the date on which such act or event was, or should have been, in the exercise of reasonable due diligence, discovered by the Party asserting the cause of action, dispute or claim. 

7.7    Express Negligence. THE INDEMNITY, RELEASES AND LIMITATIONS OF LIABILITY IN THIS AGREEMENT (INCLUDING
ARTICLE II AND THIS ARTICLE VII) ARE INTENDED TO BE ENFORCEABLE AGAINST THE PARTIES IN ACCORDANCE WITH THE EXPRESS TERMS AND SCOPE THEREOF NOTWITHSTANDING ANY EXPRESS NEGLIGENCE RULE OR ANY SIMILAR
DIRECTIVE THAT WOULD PROHIBIT OR OTHERWISE LIMIT INDEMNITIES BECAUSE OF THE NEGLIGENCE OR GROSS NEGLIGENCE (WHETHER SOLE, JOINT OR CONCURRENT OR ACTIVE OR PASSIVE) OR OTHER FAULT OR STRICT LIABILITY OF ANY OF THE INDEMNIFIED PARTIES. 

  
 17 

 7.8    Appointment of Service Coordinators. VSI will appoint a
Representative who will be its authorized representative and empowered to act on its behalf in connection with this Agreement (the “VSI Service Coordinator”), and SpinCo will appoint a Representative who will be its authorized
representative and empowered to act on its behalf in connection with this Agreement (the “SpinCo Service Coordinator”, and together with the VSI Service Coordinator, the “Service Coordinators”). The Service
Coordinators will have day-to-day responsibility for the provision and use of the Services. The VSI Coordinator and SpinCo Service Coordinator will be the Persons
identified on Annex D. Each Party will promptly notify the other in writing in the event of any change to the appointment a Service Coordinator. 

7.9    Dispute Resolution. Any Dispute arising out of or relating to this Agreement will be resolved as provided in
Article VII of the Separation and Distribution Agreement; provided, however, that before commencing any Action relating to any such Disputes, the Parties will first attempt to resolve it by engaging in good faith discussions between the Service
Coordinators, the functional leads and, if necessary, the Authorized Representatives. 
 ARTICLE VIII 

MISCELLANEOUS 

8.1    Counterparts; Entire Agreement; Corporate Power; Facsimile Signatures. 

(a)    This Agreement may be executed in one or more counterparts (including by facsimile, PDF or other electronic
transmission), all of which will be considered one and the same agreement. 
 (b)    This Agreement, including the
Annexes hereto and the sections of the Separation and Distribution Agreement referenced herein, contain the entire agreement between the Parties with respect to the subject matter hereof, and supersede all previous agreements, negotiations,
discussions, writings, understandings, commitments and conversations with respect to such subject matter. Notwithstanding anything herein to the contrary, unless expressly set forth therein, in the case of any conflict between this Agreement and an
Ancillary Agreement in relation to matters specifically addressed in such Ancillary Agreement, the Ancillary Agreement will control. 

(c)    Each Party represents and warrants to the other Party as follows: 

(i)    it has the requisite corporate or other power and authority and has taken all corporate or other
action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

  
 18 

 (ii)    this Agreement has been duly executed and
delivered by it and constitutes a valid and binding agreement of it enforceable in accordance with the terms hereof. 

8.2    Governing Law. This Agreement will be governed by and construed and interpreted in accordance with the Laws
of the State of Delaware without regard to rules of conflicts of laws. 
 8.3    Binding Effect; Assignability.
This Agreement will be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided that no Party may assign any of its rights or assign or delegate any of its obligations under this
Agreement without the express prior written consent of the other Party. 
 8.4    No Third-Party Beneficiaries.
This Agreement is solely for the benefit of the Parties and their respective Subsidiaries, Affiliates, successors and assigns and will not be deemed to confer upon any other Person any remedy, claim, liability, reimbursement, cause of action or
other right in excess of those existing without reference to this Agreement. The Parties agree that each SpinCo Indemnitee and VSI Indemnitee who is not a party to this Agreement is an intended third party beneficiary of the indemnification
provisions of this Agreement. 
 8.5    Notices. All notices, requests and other communications to any Party
hereunder will be in writing and will be deemed given if delivered personally, emailed (which is confirmed) or sent by overnight courier (providing proof of delivery) to the Parties at the following addresses: 

If to VSI, to: 
 Verint Systems
Inc. 
 175 Broadhollow Road 

Melville, New York 11747 

Attention: Chief Administrative Officer 

Email: peter.fante@verint.com 

If to SpinCo to: 
 Cognyte
Software Ltd. 
 33 Maskit 

Herzliya Pituach 4673333 
 Israel

 Attention: Ziv Levi, Chief Legal Officer 

Email: ziv.levi@cognyte.com 
 A
Party may, by notice to the other Party, change the address to which such notices are to be given. All such notices, requests and other communications will be deemed received on the date of actual receipt by the recipient thereof if received prior
to 5:00 p.m. local time in the place of receipt and such day is a business day in the place of receipt. Otherwise, any such notice, request or communication will be deemed not to have been received until the next succeeding business day in the place
of receipt. 

  
 19 

 8.6    Severability. If any provision of this Agreement or the
application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or the application of such provision to Persons or circumstances or in
jurisdictions other than those as to which it has been held invalid, void or unenforceable, will remain in full force and effect and will in no way be affected, impaired or invalidated thereby. Upon such determination, the Parties will negotiate in
good faith in an effort to agree upon such a suitable and equitable provision to effect, as closely as possible, the original intent of the Parties. 

8.7    Force Majeure. No Party will be deemed in default of this Agreement for any delay or failure to fulfill any
obligation (other than a payment obligation) hereunder so long as and to the extent to which any delay or failure in the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure.
In the event of any such excused delay, the time for performance of such obligations (other than a payment obligation) will be extended for a period equal to the time lost by reason of the delay. A Party claiming the benefit of this provision will,
as soon as reasonably practicable after the occurrence of any such event, (a) provide written notice to the other Party of the nature and extent of any such Force Majeure condition and (b) use commercially reasonable efforts to remove any
such causes and resume performance under this Agreement as soon as reasonably practicable. 
 8.8    Headings.
The article, section and paragraph headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement. 

8.9    Waivers of Default; Remedies Cumulative. Waiver by a Party of any default by another Party of any provision
of this Agreement will not be deemed a waiver by the waiving Party of any subsequent or other default, nor will it prejudice the rights of another Party. No failure or delay by a Party in exercising any right, power or privilege under this Agreement
will operate as a waiver thereof, nor will a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege. All rights and remedies existing under this Agreement are
cumulative to, and not exclusive of, any rights or remedies otherwise available. 
 8.10    Amendments. No
provisions of this Agreement may be waived, amended, supplemented or modified, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the Party against whom it is sought to enforce such
waiver, amendment, supplement or modification. 
 8.11    Interpretation. In this Agreement (a) words in the
singular will be deemed to include the plural and vice versa and words of one gender will be deemed to include the other genders as the context requires; (b) the terms “hereof,” “herein,” and “herewith” and words
of similar import will, unless otherwise stated, be construed to 

  
 20 

 
refer to this Agreement as a whole (including all of the Annexes hereto) and not to any particular provision of this Agreement; (c) Annex, Article, Section, Schedule and Exhibit references
are to the Annexes, Articles, Sections, Schedules and Exhibits to this Agreement unless otherwise specified; (d) unless otherwise stated, all references to any agreement (including this Agreement) will be deemed to include the exhibits,
schedules and annexes to such agreement; (e) references to “$” will mean U.S. dollars; (f) the word “including” and words of similar import when used in this Agreement will mean “including, without
limitation,” unless otherwise specified; (g) the word “or” will not be exclusive; (h) unless otherwise specified in a particular case, the word “days” refers to calendar days; (i) references to
“written” or “in writing” include in electronic form; (j) references to “business day” will mean any day other than a Saturday, a Sunday or a day on which banking institutions are generally authorized or required
by law to close in the United States or Israel, as the context requires; (k) references herein to this Agreement or any other agreement contemplated herein will be deemed to refer to this Agreement or such other agreement as of the date on
which it is executed and as it may be amended, modified or supplemented thereafter, unless otherwise specified; and (l) unless expressly stated to the contrary in this Agreement, all references to “the date hereof,” “the date of
this Agreement,” “hereby” and “hereupon” and words of similar import will all be references to the date set forth in the Preamble. 

8.12    Performance. VSI will cause to be performed, and hereby guarantees the performance of, all actions,
agreements and obligations set forth in this Agreement to be performed by any member of the VSI Group. SpinCo will cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth in this Agreement
to be performed by any member of the SpinCo Group. 
 8.13    Mutual Drafting. This Agreement will be deemed to
be the joint work product of the Parties, and any rule of construction that a document will be interpreted or construed against a drafter of such document will not be applicable. 

[Signatures on Following Page] 

  
 21 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the date first
written above by their respective duly authorized officers. 
  

			
	VERINT SYSTEMS INC.
		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	COGNYTE SOFTWARE LTD.
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 [Signature Page to
Transition Services Agreement]

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