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Exhibit 10.10  

        STOCK PURCHASE AGREEMENT

        >THIS
STOCK PURCHASE AGREEMENT, dated as of January 31, 2002 (the "Agreement"), is by and between COMVERSE, INC., a Delaware
corporation ("Purchaser") and COMVERSE INFOSYS, INC., a Delaware corporation ("Seller"). 

W
I T N E S S E T H: 

        WHEREAS,
Seller is the holder of all the outstanding shares of capital stock of Comverse Media Holding Inc., a Delaware corporation
("Media", and such shares are referred to herein as the "Media Shares"); and 

        WHEREAS,
the parties hereto had entered into an oral agreement that on February 1, 2001 (the "Effective Date") Seller would sell,
and Purchaser would purchase, the Media Shares in consideration for an amount of $100,000, which was paid by a reduction in the outstanding principal amount of intercompany debt owed by Seller to
Purchaser; and 

        WHEREAS,
since the Effective Date Purchaser has operated the business and affairs of Media as the sole stockholder of Media and Seller has had no involvement in the business and affairs
of Media; and 

        WHEREAS,
Seller did not formally transfer the Media Shares to Purchaser on the Effective Date, and Seller and Purchaser now wish to effect the formal transfer of the Media Shares to
Purchaser and to confirm in writing their oral agreement referred to above. 

        NOW,
THEREFORE, in consideration of the foregoing and the representations, warranties, covenants and agreements herein contained, the parties hereto agree as follows: 

 
 

ARTICLE I
  DEFINITIONS    
  

        1.1    Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below: 

        "Business Day" shall mean a day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or
required by law to close. 

        "Code" shall mean the United States Internal Revenue Code of 1986, as amended. 

        "Encumbrances" shall mean any and all mortgages, security interests, liens, claims, pledges, restrictions (including restrictions on
transfer), leases, title 

 

exceptions,
easements, rights of way, rights of first refusal, charges or other encumbrances. 

        "Person" shall mean an individual, corporation, limited liability company, partnership, trust or unincorporated organization or a
government or any agency or political subdivision thereof. 

        "Securities Act" shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

        "Subsidiary" shall mean, with respect to any Person, (i) each corporation, partnership, joint venture or other legal entity of
which such Person owns, either directly or indirectly, more than 50% of the stock or other equity interests the holders of which are generally entitled to vote for the election of the board of
directors or similar governing body of such corporation, partnership, joint venture or other legal entity, (ii) each partnership in which such Person or another Subsidiary of such Person is the
general or managing partner and (iii) each limited liability company in which such Person or another Subsidiary of such Person is the managing member or otherwise controls (by contract, through
ownership of membership interests or otherwise). 

        "Third Party" shall mean any Person other than Seller, Purchaser and Media. 

        1.2    Other Definition Provisions.

        (a)    The
words "hereof", "herein", and "hereunder" and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any
particular provision of this Agreement. 

        (b)    Terms
defined in the singular shall have a comparable meaning when used in the plural, and vice versa. 

        (c)    The
terms "dollars" and "$" shall mean United States dollars. 

        (d)    The
term "including" shall be deemed to be immediately followed by the term "but not limited to." 

 
 

ARTICLE II
  CONFIRMATION OF THE PURCHASE AND SALE OF MEDIA SHARES    
  

        2.1    Purchase and Sale of Media Shares. Purchaser and Seller hereby confirm that the transfer of all of the burdens, benefits,
obligations and incidents of ownership of the Media Shares was effected as of the Effective Date in consideration for a reduction in the outstanding principal amount of intercompany debt owed by
Seller to Purchaser. In furtherance thereof, on the date of this Agreement, the parties hereto shall make the deliveries set forth below in Section 2.2. 

2

 

        2.2    Deliveries. On the date hereof, Seller shall deliver to Purchaser certificates representing the Media Shares, registered
in the name of Seller, together with stock powers executed in blank by Seller. The parties acknowledge and agree that the Media Shares will not be registered under the Securities Act and, accordingly,
certificates representing such securities will contain legends to that effect. 

        2.3    Transfer of Ownership. It is the intention of the parties that all of the burdens, benefits, obligations and incidents of
ownership of the Media Shares were absolutely and unconditionally transferred from Seller to Purchaser as of the Effective Date. 

 
 

ARTICLE III
  REPRESENTATIONS AND WARRANTIES OF SELLER    
  

        Seller makes the following representations and warranties to Purchaser as of the Effective Date and as of the date hereof: 

        3.1    Corporate Existence. Each of Seller and Media is a corporation duly organized, validly existing and in good standing
under the laws of its jurisdiction of incorporation, with all requisite power and authority to enable it to own, lease and operate its assets and properties and to conduct its business as currently
being conducted, and is qualified and in good standing to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties owned or
leased by it requires such qualification, except where the failure to be so qualified and in good standing does not and would not reasonably be expected to have, individually or in the aggregate, a
material adverse effect on Seller or Media, as applicable. 

        3.2    Corporate Power; Authorization; Enforceable Obligations. Seller has all requisite corporate power and authority to
execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of
the transactions contemplated hereby have been duly authorized by all requisite corporate action on the part of Seller. This Agreement has been duly executed and delivered by Seller, and constitutes
the legal, valid and binding obligation of Seller, and is enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors' rights generally and to general principles of equity. 

        3.3    Capitalization. The authorized capital stock of Media consists of 100 shares of capital stock, par value $.01 per share,
of which 100 shares are issued and outstanding, all of which are validly issued,
fully paid and nonassessable and none of which are held in the treasury of Media. Other than the Media Shares being sold hereunder to Purchaser, no shares of the capital stock or other securities of
Media are issued or outstanding, or reserved for any purpose. There are no options, warrants, convertible or exchangeable securities or other rights (including pre-emptive,
tag-along, right of first refusal, buy-sell, repurchase, redemption, registration or similar rights), 

3

 

agreements,
arrangements or commitments of any kind obligating or which could obligate Media to grant, issue or sell, or obligating or which could obligate Seller to sell, transfer or otherwise
dispose of, any shares of capital stock of Media to any Person other than Purchaser. Media has no outstanding bonds, debentures, notes or other obligations the holders of which have the right to vote
or that are convertible into or exercisable for securities having the right to vote with the stockholders of Media on any matter. There are no voting trusts, stockholders' agreements or other
agreements or understandings with respect to the voting of Media capital stock. 

        3.4    Ownership of Media Shares. Seller holds of record, subject to the rights of Purchaser hereunder, all of the Media Shares,
free and clear of any Encumbrances (other than any restrictions under the Securities Act and state securities laws). The Media Shares have not been issued in violation of any pre-emptive
rights, other rights or obligations, or any term or condition created by statute, the certificate of incorporation, by-laws or other organizational document of Media, or any contract to
which Media is a party or by which it is bound. 

        Except
as expressly set forth in this Article III, Seller makes no other representations or warranties, express or implied, to Purchaser in connection with this Agreement. 

 
 

ARTICLE IV
  REPRESENTATIONS AND WARRANTIES OF PURCHASER    
  

        Purchaser makes the following representations and warranties to Seller as of the Effective Date and as of the date hereof: 

        4.1    Corporate Existence. Purchaser is a corporation duly organized, validly existing and in good standing under the laws of
the State of Delaware, with all requisite power to enable it to own, lease and operate its assets and properties and to conduct its business as currently being conducted, and is qualified and in good
standing to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties owned or leased by it requires such qualification,
except where the failure to be so qualified and in good standing does not and would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on Purchaser. 

        4.2    Corporate Power; Authorization; Enforceable Obligations. Purchaser has all requisite corporate power and authority to
execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of
the transactions contemplated hereby have been duly authorized by all requisite corporate action on the part of Purchaser. This Agreement has been duly executed and delivered by Purchaser and
constitutes the legal, valid and binding obligation of Purchaser and is enforceable against Purchaser, in accordance with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, 

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reorganization,
moratorium or similar laws affecting creditors' rights generally and general principles of equity. 

        4.3    Investment Representations.

        (a)    Purchaser Bears Economic Risk. Purchaser has substantial experience in evaluating and investing in private placement
transactions of securities in companies similar to Media and it is capable of evaluating the merits and risks of its investment in Media and has the capacity to protect its own interests. Purchaser
must bear the economic risk of this investment indefinitely unless the Media Shares are registered pursuant to the Securities Act, or an exemption from registration is available. Purchaser understands
that Media has no present intention of registering the Media Shares. Purchaser also understands that there is no assurance that any exemption from registration under the Securities Act will be
available and that, even if available, such exemption may not allow Purchaser to transfer all or any portion of the Media Shares under the circumstances, in the amounts or at the times Purchaser might
propose. 

        (b)    Acquisition for Own Account. Purchaser is acquiring the Media Shares for Purchaser's own account for investment only, and
not with a view towards their distribution. 

        (c)    Purchaser Can Protect Its Interest. Purchaser represents that by reason of its, or of its management's, business or
financial experience, Purchaser has the capacity to protect its own interests in connection with the transactions contemplated in this Agreement. 

        (d)    Accredited Investor. Purchaser represents that it is an accredited investor within the meaning of Regulation D
under the Securities Act. 

        (e)    Rule 144. Purchaser acknowledges and agrees that the Media Shares must be held indefinitely unless it is
subsequently registered under the Securities Act or an exemption from such registration is available. Purchaser has been advised or is aware of the provisions of Rule 144 promulgated under the
Securities Act as in effect from time to time, which permits limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions, including, among other things:
(i) the availability of certain current public information about Media, (ii) the resale occurring following the required holding period under Rule 144 and (iii) the number
of shares being sold during any three-month period not exceeding specified limitations. 

        Except
as expressly set forth in this Article IV, Purchaser makes no other representations or warranties, express or implied, to Seller in connection with this Agreement. 

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ARTICLE V
  INDEMNIFICATION    
  

        5.1    Survival of Representations and Warranties. All representations and warranties contained in this Agreement and all claims
with respect thereto shall survive the completion of the transaction of purchase and sale contemplated hereby. 

        5.2    Indemnification. (a) Seller shall indemnify Purchaser, its Subsidiaries, and each of their directors, officers,
employees, agents, successors and assigns (each, a "Purchaser Indemnitee", and collectively, the "Purchaser Indemnitees") in respect of, and hold the Purchaser Indemnitees harmless against, any and
all damages, liabilities, judgements, fines, fees, penalties, interest obligations, deficiencies, losses and expenses, including amounts paid in settlement, interest, court costs, reasonable costs of
investigation, reasonable fees and expenses of attorneys, accountants, financial advisors, engineers and other expenses, and other expenses of litigation (collectively, "Damages") incurred or suffered
by the Purchaser Indemnitees arising out of, resulting from, or in any way related to, (i) the untruth, inaccuracy or breach of any representation or warranty of Seller contained in this
Agreement, or (ii) any breach, nonfulfillment or failure to perform any agreement or covenant of Seller contained in this Agreement. 

        (b)    Purchaser
shall indemnify Seller, its Subsidiaries, and each of their directors, officers, employees, agents, successors and assigns (each a "Seller Indemnitee", and
collectively the "Seller Indemnitees") in respect of, and hold the Seller Indemnitees harmless against, any and all Damages incurred or suffered
by the Seller Indemnitees arising out of, resulting from, or in any way related to, (i) the untruth, inaccuracy or breach of any representation or warranty of Purchaser contained in this
Agreement, (ii) any breach, nonfulfillment or failure to perform any agreement or covenant of Purchaser contained in this Agreement, (iii) Purchaser's ownership of the Media Shares,
Purchaser's control of Media and the conduct of the business and affairs of Media and its Subsidiaries since the Effective Date and (iv) any claims that are made by any Person against Seller or
any other Seller Indemnitee concerning Purchaser's ownership or control of Media since the Effective Date or the conduct of the business and affairs of Media and its Subsidiaries since the Effective
Date. 

        5.3    Indemnification Procedures.

        (a)    Third Party Claims. If Purchaser, on behalf of any Purchaser Indemnitee, or Seller, on behalf of any Seller Indemnitee,
seeks to be indemnified pursuant to this Article V (in each case, an "Indemnified Party"), it shall give prompt written notification to the party against whom indemnification is sought (the
"Indemnifying Party") of the assertion of any Third Party claim or commencement of any action, suit or proceeding relating to a Third Party claim for which indemnification pursuant to this
Article V may be sought, but the failure of an Indemnified Party to give prompt notice to the Indemnifying Party shall not affect the rights of the Indemnified Party to indemnification
hereunder, except if (and then only to the extent that) the Indemnifying Party incurs additional expenses or the Indemnifying Party is actually 

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prejudiced
by reason of such failure to give timely notice. The Indemnifying Party may, upon written notice thereof to the Indemnified Party, assume control of the defense of such claim, action, suit
or proceeding with counsel reasonably satisfactory to the Indemnified Party; provided that the Indemnifying Party acknowledges in writing, and in form and substance acceptable, to the Indemnified
Party that any damages, fines, costs, judgements or other liabilities that may be assessed against the Indemnitee in connection with such action, suit or proceeding constitute Damages for which the
Indemnified Party shall be entitled to indemnification pursuant to this Article V; and provided, further, that (x) Purchaser shall have the right to control the defense and settlement
negotiations to the extent of any claim or demand seeking equitable relief or remedial action on the part of a Purchaser Indemnitee and (y) Seller shall have the right to control the defense
and settlement negotiations to the extent of any claim or demand seeking equitable relief or remedial action on the part of a Seller Indemnitee. If the Indemnifying Party does not so assume control of
such defense, the Indemnified Party shall control such defense. The party not controlling such defense may participate therein at its own expense; provided that if the Indemnifying Party assumes
control of such defense and the Indemnified Party reasonably concludes that the Indemnifying Party and the Indemnified Party have a conflict of interest or different defenses available with respect to
such action, suit or proceeding, the reasonable fees and expenses of counsel to the Indemnified Party shall be considered "Damages" for purposes of this Agreement. The party controlling such defense
shall keep the other party advised of the status of such action, suit or proceeding and the defense thereof and shall consider in good faith recommendations made by the other party with respect
thereto. The Indemnified Party shall not agree to any settlement of such claim, action, suit or proceeding without the prior written consent of the Indemnifying Party. The Indemnifying Party shall not
agree to any settlement of such action, suit or
proceeding without the prior written consent of the Indemnified Party, which shall not be unreasonably withheld. 

        (b)    Direct Claims. With respect to claims other than Third Party claims, the Indemnified Party shall use reasonable efforts
promptly to notify in writing the Indemnifying Party of such claims, but the failure of the Indemnified Party so to give notice to the Indemnifying Party shall not affect the rights of the Indemnified
Party to indemnification hereunder, except if (and then only to the extent that) the Indemnifying Party incurs additional expenses or the Indemnifying Party is actually prejudiced by reason of such
failure to give timely notice. 

 
 

ARTICLE VI
  GENERAL PROVISIONS    
  

        6.1    Further Assurances. Each of the parties hereto shall execute such documents and other instruments and take such further
actions as may be reasonably required or desirable to carry out the provisions hereof and consummate and evidence the transactions contemplated hereby or, at and after the date hereof, to evidence the
consummation of the transactions contemplated by this Agreement. Upon the terms and subject to the conditions hereof, each of the parties hereto shall take or cause to be taken 

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all
actions and to do or cause to be done all other things necessary, proper or advisable to consummate and make effective as promptly as practicable the transactions contemplated by this Agreement
and to obtain in a timely manner all necessary waivers, consents and approvals and to effect all necessary registrations and filings. 

        6.2    Announcements. Neither Seller nor Purchaser will issue any press release or otherwise make any public statement with
respect to this Agreement and the transactions contemplated hereby without the prior written consent of the other, except as may be required by any law or regulation (including, without limitation,
pursuant to the U.S. federal securities laws) or rules of the NASDAQ National Market, in which event the party required to make the release or announcement shall allow the other party reasonable time,
in light of the circumstances, to comment on such release or announcement in advance of such issuance. 

        6.3    Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York
without reference to choice of law principles, including all matters of construction, validity and performance. 

        6.4    Notices. All notices, requests, permissions, waivers, and other communications hereunder shall be in writing and shall be
deemed to have been duly given, (a) five Business Days following sending by registered mail, postage prepaid, (b) when sent if sent by facsimile during the normal business hours of the
recipient, or one Business Day after the date sent if sent by facsimile after the normal business hours of the recipient, provided that the sending
party receives written confirmation that the facsimile has been successfully transmitted to the intended recipient, (c) when delivered, if delivered personally to the intended recipient and
(d) one Business Day following sending by overnight delivery via a national courier service, and in each case, addressed to a party at the following address for such party: 

	(i)
	If
to Seller, to: 

Comverse
Infosys, Inc.

234 Crossways Park Drive

Woodbury, New York 11797

Attention: President and Chief Executive Officer

Facsimile No.: (516) 677-7399 

	(ii)
	If
to Purchaser, to: 

Comverse, Inc.

100 Quannapowitt Parkway

Wakefield, Massachusetts 01880

Attention: Legal Department

Facsimile No.: (781) 224-8144 

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Such
names and addresses may be changed by notice given in accordance with this Section 6.4. 

        6.5    Entire Agreement. This Agreement contains the entire understanding of the parties hereto and thereto with respect to the
subject matter contained herein and therein, and supersedes and cancels all prior agreements, negotiations, correspondence, undertakings and communications of the parties, oral or written, respecting
such subject matter. There are no restrictions, promises, representations, warranties, agreements or undertakings of any party hereto with respect to the transactions contemplated by this Agreement
other than those set forth herein. 

        6.6    Headings; References. The article, section and paragraph headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. All references herein to "Articles" or "Sections" shall be deemed to be references to Articles or Sections hereof
unless otherwise indicated. 

        6.7    Counterparts. This Agreement may be executed in multiple counterparts and each counterpart shall be deemed to be an
original, but all of which shall constitute one and the same original. 

        6.8    Parties in Interest; Assignment. Neither this Agreement nor any of the rights, interest or obligations hereunder shall be
assigned by any of the parties hereto without the prior written consent of the other party. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
successors and permitted assigns. Except as set forth in Article V, nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies under or by
reason of this Agreement. 

        6.9    Severability; Enforcement. The invalidity of any portion hereof shall not affect the validity, force or effect of the
remaining portions hereof. If it is ever held that any restriction hereunder is too broad to permit enforcement of such restriction to its fullest extent, each party agrees that a court of competent
jurisdiction may enforce such restriction to the maximum extent permitted by law, and each party hereby consents and agrees that such scope may be judicially modified accordingly in any proceeding
brought to enforce such restriction. 

        6.10    Specific Performance. The parties hereto agree that the remedy at law for any breach of this Agreement will be
inadequate and that any party by whom this Agreement is enforceable shall be entitled to specific performance in addition to any other appropriate relief or remedy. Such party may, in its sole
discretion, apply to a court of competent jurisdiction for specific performance or injunctive or such other relief as such court may deem just and proper in order to enforce this Agreement or prevent
any violation hereof and, to the extent permitted by applicable law, each party waives any objection to the imposition of such relief. 

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        6.11    Jurisdiction. Each party to this Agreement hereby irrevocably agrees that any legal action, suit or proceeding arising
out of or relating to this Agreement, shall be brought in the United States District Court for the Southern District of New York or the Supreme Court of the State of New York and each party hereto
agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding any claim that it is not subject personally to the jurisdiction of such court, that the
action, suit or proceeding is brought in an inconvenient forum, that the venue of the action, suit or proceeding is improper or that this Agreement, or the subject matter hereof or thereof may not be
enforced in or by such court. Each party hereto further and irrevocably submits to the jurisdiction of such court in any action, suit or proceeding. 

        6.12    Waiver. Failure at any time to enforce or require performance of any of the provisions hereof shall in no way be
construed to be a waiver of such provision or to affect the validity of this Agreement or any part thereof or the right of either party thereafter to enforce each provision in accordance with the
terms of this Agreement. 

        6.13    Broker Fees. Each party hereto represents and warrants that no agent, broker, investment banker, person or firm acting
on behalf of or under the authority of such party hereto is or will be entitled to any broker's or finder's fee or any other commission directly or indirectly in connection with the transactions
contemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this
Section 6.13 being untrue. 

        6.14    Expenses. The parties shall each bear their own expenses incurred in connection with the negotiation and execution of
this Agreement and the consummation of the transactions contemplated hereby, it being understood that in no event shall Media bear any of such costs and expenses. 

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[STOCK PURCHASE AGREEMENT SIGNATURE PAGE]    
  

        IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above written. 

	 	 	COMVERSE, INC.
	

 	
 	

By:	
 	

/s/  DAVID KREINBERG      
 Name: David Kreinberg

Title: Vice President
	

 	
 	

COMVERSE INFOSYS, INC.
	

 	
 	

By:	
 	

/s/  DAN BODNER      
 Name:Dan Bodner

Title: President and Chief Executive Officer

 
 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	Page

	ARTICLE I        DEFINITIONS	 	1
	1.1	 	Definitions	 	1
	1.2	 	Other Definition Provisions	 	2
	ARTICLE II        CONFIRMATION OF THE PURCHASE AND SALE OF MEDIA SHARES	 	2
	2.1	 	Purchase and Sale of Media Shares	 	2
	2.2	 	Deliveries	 	3
	2.3	 	Transfer of Ownership	 	3
	ARTICLE III        REPRESENTATIONS AND WARRANTIES OF SELLER	 	3
	3.1	 	Corporate Existence	 	3
	3.2	 	Corporate Power; Authorization; Enforceable Obligations	 	3
	3.3	 	Capitalization	 	3
	3.4	 	Ownership of Media Shares	 	4
	ARTICLE IV        REPRESENTATIONS AND WARRANTIES OF PURCHASER	 	4
	4.1	 	Corporate Existence	 	4
	4.2	 	Corporate Power; Authorization; Enforceable Obligations	 	4
	4.3	 	Investment Representations	 	5
	ARTICLE V        INDEMNIFICATION	 	6
	5.1	 	Survival of Representations and Warranties	 	6
	5.2	 	Indemnification	 	6
	5.3	 	Indemnification Procedures	 	6
	ARTICLE VI        GENERAL PROVISIONS	 	7
	6.1	 	Further Assurances	 	7
	6.2	 	Announcements	 	8
	6.3	 	Governing Law	 	8
	6.4	 	Notices	 	8
	6.5	 	Entire Agreement	 	9
	6.6	 	Headings; References	 	9
	6.7	 	Counterparts	 	9
	6.8	 	Parties in Interest; Assignment	 	9

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TABLE OF CONTENTS
  (continued)    
  

	 
	 	 
	 	Page

	6.9	 	Severability; Enforcement	 	9
	6.10	 	Specific Performance	 	9
	6.11	 	Jurisdiction	 	10
	6.12	 	Waiver	 	10
	6.13	 	Broker Fees	 	10
	6.14	 	Expenses	 	10

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ARTICLE I DEFINITIONS

ARTICLE II CONFIRMATION OF THE PURCHASE AND SALE OF MEDIA SHARES

ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF PURCHASER

ARTICLE V INDEMNIFICATION

ARTICLE VI GENERAL PROVISIONS

[STOCK PURCHASE AGREEMENT SIGNATURE PAGE]

TABLE OF CONTENTS

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Exhibit 10.11  

 
 

AGREEMENT    
  

        Entered into this 1 day of 07, 2001 by and among 

COMVERSE INFOSYS LTD, a company organized under the laws of the State of Israel with its offices at 23 Habarzel St., Tel-Aviv, Israel
and/or its subsidiaries or affiliates ("Comverse"); and 

COMVERSE INFOSYS (SINGAPORE) PTE LTD, a company organized under the laws of the Republic of Singapore, with its offices
at                        ,
Singapore (the "Company"). 

WHEREAS Comverse develops, manufactures and markets products for digital recording, monitoring and processing telecommunication signals, and provides
related services; and 

WHEREAS the Company is a partially owned subsidiary of Comverse, established under the name Pacific Links Technologies Pte Ltd., which sells and
supports certain of Comverse' products in Singapore, Brunei and Myanmar; and 

WHEREAS the parties wish to extend the Company's activities so that the Company shall serve as a non-exclusive distributor of additional
Comverse' products, pursuant to the terms and conditions of this Agreement; 

NOW THEREFORE, in consideration of the promises and of the mutual covenants and obligations hereinafter set forth, the parties hereto agree as follows: 

1.    General Scope of the Agreement

1.1    This
Agreement set forth the relationship between the parties in the following areas and services to be provided to Comverse by the Company: 

	(a)
	Distribution
of CCD Products;

	(b)
	Furnish
of office facilities and employee services;

	(c)
	Pass-through
services; 

1.2    The
services provided by the Company shall be independent from each other. 

2.    Distribution of CCD Products by the Company

        2.1  The
Company is hereby appointed as a non-exclusive distributor of Comverse CCD Products in Singapore. "CCD
Products" shall mean the products manufactured by the Call Center Division (CCD) of Comverse, as listed in Exhibit A, all
as may be available from time to time by Comverse. 

        2.2  The
Company shall be entitled to a discount from the prices published in Comverse' end-user APAC price list, as they shall be from time to time, on purchase
of CCD Products from Comverse under this Agreement. The rate of discount shall be agreed upon in writing between the parties from time to time. At the date of this Agreement the rate of discount is
detailed in Exhibit C hereto. In any event, all end user prices must be approved by Comverse. 

        2.3  The
payment terms which shall apply to the purchase of the CCD Products are detailed in Exhibit C hereto. The delivery terms of the CCD Products shall be DDU
Singapore, as defined in Incoterms 2000. 

        2.4  The
Company shall hire and employ a dedicated sales account manager who will be responsible for the promotion and marketing of the CCD Products in Singapore. In the
event a sale is made through Comverse' sales personnel, the Company will support the pre-sales activities and will report to Comverse' CCD, regional manager for South East Asia. 

        2.5  The
Company shall provide Comverse on a quarterly basis with a rolling twelve (12) month forecast of its future requirements of CCD Products, which will be
approved by Comverse ("Annual 

 

Quota"). Such Annual Quotas shall not bind or commit any of the parties for themselves, except that Comverse may rely on such forecasts in preparing to meet shipment requirements of CCD Products. 

        2.6  The
Company will take all reasonable efforts to enter into after-warranty service contracts (either full service or on a per call basis) with its customers concerning
the CCD Products. The Company will enter into a relevant service agreement with Comverse for every service contract with its customers in accordance with Comverse' support service policy as shall be
from time to time, in consideration detailed in Exhibit C. 

        2.7  Comverse
reserves the right to appoint any other person or entity as a distributor of the CCD Products in Singapore, as it deems appropriate. 

3.    Furnish of Office Facilities and Employee Services

        3.1  The
Company shall provide office space and secretarial assistance to Comverse in the Company's main office in Singapore, as well as appropriate space for demos room,
meetings, warehouse and storage space; Comverse shall pay the Company a monthly sum of S$1,500 (fifteen hundred Singapore Dollar) for the office and secretarial assistance provided by the Company at
the date of this Agreement. Any change in the scope of office space and secretarial assistance shall be agreed on from time to time by the parties. 

        3.2  Upon
request of Comverse, at its discretion, the Company shall employ personnel on behalf of Comverse ("Comverse Personnel"), on the terms and conditions of employment,
and total employment cost as provided by Comverse. Comverse shall pay the Company the Comverse Personnel salary and
social benefits costs, and shall reimburse the Company other out of pocket employment expenses incurred by the Company directly as a result of the employment of the Comverse Personnel. The Comverse
Personnel shall report in administrative matters to the general manager of the Company, and in professional matters to the relevant Comverse employees. 

        3.3  Comverse
may, at its discretion, discontinue any of the services provided by the Company in accordance to this Section 5, upon a 90 (ninety) days written notice
to the Company. 

4.    Intentionally Deleted.

5.    General Responsibilities of the Company as a Distributor

In
addition to all other rights and obligations set forth in this Agreement, as long as the Company serves as a distributor to the CCD Products, the Company shall, at its sole cost and expense: 

        5.1  Provide
competent technical support services, including installation services for the CCD Products to the Company's customers, as is required from a distributor of
Comverse. 

        5.2  Maintain
at all times sufficient stock to meet and supply reasonable estimated demand and a stock of spare parts and accessories sufficient for its maintenance and
service obligations hereunder. 

        5.3  Use
its best efforts to promote, advertise, sell and market the CCD Products in Singapore, including in pre-sales activities such as presentations,
demonstrations, training seminars, preparing proposals, and such other activities as shall be agreed by the parties from time to time. 

        5.4  Obtain
and maintain any and all import and business licenses or permits required in Singapore in connection with the Company's activities hereunder and comply with all
necessary governmental approvals, licenses, permits and consents in connection with the importation, sale and use of the CCD Products as are or may be promulgated by authorized governmental
authorities and required in order to carry out the terms of this Agreement. 

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        5.5  Report
to Comverse on a quarterly basis on the Company's marketing potential, trends and forecasts, competition, marketing techniques, current developments in Singapore
changes of regulations governing the sale of Products in therein and amounts of Products sold by the Company; and 

        5.6  Provide
Comverse promptly with customer comments and follow-up information and furnish Comverse with copies of documentation and correspondence relating to
technical support and sale of the Products. 

        5.7  The
Company will send its technical and sales personnel to participate in periodic technical an d sales training seminars at Comverse as will be agreed by the parties
from time to time, but at least twice a year. The Company will bear the cost of travel and living expenses of its employees during such seminars. 

6.    Responsibilities of Comverse

        In
addition to its other rights and obligations set forth in this Agreement, Comverse shall: 

        6.1  Promptly
accept and confirm or reject, as appropriate, all orders and make every reasonable effort to deliver the CCD Products, as set forth in orders made by the
Company pursuant to the terms of this Agreement. 

        6.2  Promptly
respond to the Company's requests for information regarding the Products and/or their availability. 

        6.3  Provide
the Company with complete sales and technical information for the products and keep the Company informed of all specification changes, and supply the Company,
for its own use, without charge, sufficient copies of marketing, sales and technical information, literature, brochures, catalogues, application and engineering data, price lists and such other
information and sale aids as required by the Company for the Company to solicit the sales of the CCD Products. 

7.    Scope and Limitations of Authority

        7.1  This
Agreement does not create an agency, joint venture or partnership between Comverse and the Company. The Company shall operate under this Agreement only as an
independent distributor and a technical support representative of Comverse and not as a principal. 

        7.2  Neither
party shall have the authority to act for or bind the other in any way, to execute agreements on behalf of the other or to represent that either party is in any
way responsible for the acts or omissions of the other, unless specifically agreed otherwise in writing. 

8.    Confidential Information

        Comverse
has already made available to the Company and will continue to make available to the Company from time to time information, data, and material of a proprietary nature, of
technical, business and financial nature. Such information is considered as confidential ("Confidential Information"). The Company shall use such Confidential Information only to the extent necessary
to carry out the terms of this Agreement, and shall not disclose Confidential Information to others or otherwise use the Confidential Information without the prior written consent of Comverse. The
Company shall treat the Confidential Information with the same degree of care as it would exercise in handling its own confidential or proprietary information, but in no event less than reasonable
care, and may disclose the Confidential Information to any person including employees, consultants and/or contractors and/or potential and actual customers, only on a "need to know basis' and provided
such person or entity is bound by a like obligation of confidentiality. Upon termination or cancellation of this Agreement for any reason, all such data, proprietary information and Confidential
Information of 

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Comverse shall be immediately returned by the Company to Comverse and the limitations and undertakings specified in this paragraph shall survive such termination and shall remain in effect. 

9.    Proprietary Rights

        9.1  The
Company acknowledges and agrees that all proprietary rights in the Products, including but not limited to patents, copyrights and trademarks, are and shall remain at
all times the exclusive property of Comverse. 

        9.2  Comverse
hereby grants the Company a limited, non-transferable, non-exclusive and personal license (without the right to sublicense), valid
during the term of this Agreement only, to use the Trademarks in the Territory, solely in connection with the Company's marketing and promoting the Products and fulfilling its obligations under the
terms of this Agreement and in connection with related advertising therefore. For the purpose of this Agreement, "Trademarks" mean the trademarks, trade names and/or service marks specified in  Exhibit B and any other name, mark or logo from time to time adopted
and/or acquired and owned by Comverse, in connection with the CCD Products, whether registered as trademarks or service marks in the Territory or not. 

        9.3  The
Company shall not remove or alter the Trademarks affixed to any units of the Products in any manner. The Company shall not have or acquire any right, title or
interest including good-will in the Trademarks, either used alone or in conjunction with other words or names, or in the good will thereof, and shall not use any such Trademarks without
the express written consent of Comverse. The Company shall not affix to any units of the Product any other trademarks or other marks, unless specifically agreed to in writing by Comverse. 

        9.4  Upon
termination of this Agreement for any reason, the Company shall immediately return to Comverse all advertising sales or promotional material containing Trademarks,
and shall refrain from any future use of the Trademarks. 

10.  Term

        This
Agreement shall be effective from the date of its execution between both parties and will remain in effect for a period of three (3) years thereafter, unless terminated in
accordance with the provisions of Section 11 herein. Thereafter, the Agreement shall be automatically renewed for additional periods of one year each (each one year period an "Extended Term"),
until either party gives a written notice of non-renewal at least 90 days prior to the beginning of any Extended Term, or until terminated as provided in Section 11 herein. 

11.  Termination

        11.1 Either
party may terminate this Agreement: 

        11.1.1  By
a 30 days written notice to the other party if it breaches a material term of this Agreement and such breach is not remedied to other party's
satisfaction within such 30 days notice period. For the purpose of this Section 11.1.1 a breach of Sections 3.1, 3.2, 5.1, 5.4, 8, 9 or 11, as well as a breach of any other section which
substantially adversely effect the performance of this Agreement, shall be deemed a material breach of the Agreement. 

        11.1.2  Immediately
if the other party becomes insolvent or unable to pay its obligations when they become due or sells all or substantially all of its capital
stock or assets to a third party; 

        11.1.3  Immediately
if the other party files petitions for reorganization under bankruptcy laws or is adjudicated a bankrupt, or if a receiver is appointed for
it, or if it makes an assignment for the benefit of creditors, or if an involuntary bankruptcy petition is brought against it and has not been discharged within thirty (30) days of the date
brought. 

4

 

        11.2    Partial Termination.    In addition to Section 11.1 above, Comverse may, at its sole discretion, elect
to terminate only the relevant service or appointment the provisions of which the Company had not complied with, whether or not such breach was material as defined above, in the following manner: 

        11.2.1  Comverse
may, by a 30 days written notice as forth in Section 11.1.1, terminate only the appointment of the Company as a distributor of
the CCD Products (set forth in Section 2) in the event that the Company has breached a specific obligation concerning the distribution of the CCD Products or did not achieve the Annual Quota
during any year of the term of this Agreement. In the event of such partial termination the applicable terms and provisions of this Agreement shall terminate. 

        11.2.2  In
the event that Comverse had terminated the appointment of the Company as a distributor of the CCD Products (set forth in Section 2), the
Company shall not be entitled to continue to use the Trademarks as listed in Exhibit B, including the Company's name, other than as shall explicitly be permitted by Comverse following such
termination. 

        11.3    Effect of Termination    

        11.3.1  Upon
termination or expiration of this Agreement in whole or in part, as the case may be, the Company shall immediately thereafter refrain from
presenting itself as a representative, distributor or provider of technical support services of Comverse or of the Products, as applicable. 

        11.3.2  Termination
of this Agreement, in whole or in part, by either party for any reason shall not effect the rights and obligations of the parties accrued
prior to the effective date of termination of this Agreement. 

        11.3.3  No
termination of this Agreement, however, shall release the parties hereto from their rights and obligations under Sections 8, 9, 10 and 11.3. 

12.  Miscellaneous Provisions

        12.1    Force Major.    Either party shall be excused from any delay or failure in performance hereunder caused by
causes beyond its control. If such delaying cause shall continue for more than ninety (90) days, the party injured by the inability of the other to perform shall have the right, upon written
notice to the other party, to terminate this agreement. 

        12.2    Entire Agreement.    This Agreement constitutes the entire agreement and understanding between the parties
with respect to the subject matter contained herein and supersedes all prior agreements, oral or written, between the parties. Any amendment hereto must be in writing and signed by an authorized
representative of Comverse and the Company. 

        12.3    Notices.    All notices and requests required or authorized hereunder, shall be given in writing either by
personal delivery to the party to whom the notice is to be given, by certified mail, addressed to the party intended at its address set forth above, or by facsimile. Notice shall be effective at the
date of delivery in case of personal delivery, the date of the facsimile transmission, provided the receipt of the notice was confirmed by the other party in case of such facsimile transmission, or
five days following the date upon which it is deposited for registered mail delivery, addressed to the party intended at its address set forth above. 

        12.4    Waivers.    The failure or waiver of either party to require performance of any provision of this Agreement
shall not affect the right to subsequently require the performance of such or any other provision of this Agreement and shall not constitute a waiver of any subsequent breach of that provision or any
subsequent breach of any other provision of this Agreement. 

        12.5    Settlement of Disputes.    The parties agree that any dispute arising out of the execution or performance of
this Agreement which shall not be resolved in good faith by the parties, shall be settled in accordance with the settlement of the dispute sections in the Joint Venture Agreement executed on
February 2, 1998, between the Company's founding shareholders. 

[Signature page to follow]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. 

	COMVERSE INFOSYS LTD.	 	COMVERSE INFOSYS

(SINGAPORE) PTE LTD.
 
	

By: Ady Meretz	
 	

By:	
 	

/s/ Stewart Yen
	 	 	 	 	

	Title: V.P. General Manager Asia Pacific	 	Title:	 	Chairman
	 	 	 	 	

6

 
 
 

EXHIBIT A—CCD PRODUCTS    
  

ULTRATM products.  

7

 
 
 

EXHIBIT B—TRADEMARKS    
  

COMVERSE

COMVERSE TECHNOLOGY

COMVERSE INFOSYS

COMVERSE NETWORK SYSTEMS

INFOSYS

RELIANT

STAR GATE

AUDIO DISK

ULTRA.

ULTRA SELECT  

8

 
  
 

    EXHIBIT C—CCD Terms of Payment/ Commission    
  

A. General  

        The parties plan to have three types of sales of CCD Products in Singapore within the framework of this Agreement, as defined below. Each kind of sale shall
entail different kind of obligations upon the Company and shall entitle the Company to a different commission and payment terms, as defined below: 

	1.
	Complete
sale by the Company as a distributor ("Company Sale"). This kind of sale is defined as a sale made in its entirety by the
Company, with a full time sales person of the Company engaged in this activity. In a Company Sale the Company shall be granted a discount of 40% from the price paid by the end customer (provided that
such end user price was approved by Comverse). The Company shall pay to Comverse thirty percent (30%) of the Purchase Price within thirty (30) days following the acceptance of the Purchase
Order by Comverse. The balance of the Purchase Price shall be paid to Comverse in accordance with the terms of payment agreed between the Company and the respective Customers in which such ordered
Products are sold. The Company shall notify Comverse of such
payment terms in the Purchase Order. The delivery terms of the CCD Products shall be DDU Singapore, as defined in Incoterms 2000.' 

The
Responsibilities of the Company in a Company Sale shall be: Sale, payment terms with end customer, Installation, Marketing and sales activities, Warranty first year service, after Warranty
service, first and second level support, Demo facility, spare parts, trainings etc... 

	2.
	A
sale made by and through Comverse sales personnel in Singapore (currently Manish Shah) ("Comverse Sale"). In a Comverse Sale the
Company shall be entitled to 15% from the price paid by end customer. The purchase order in the Comverse Sale will be made through the Company to Comverse and Comverse will pay back to the Company 15%
of the price actually paid by end customer to Comverse as the payment to the Company. The Company shall transfer the payments from end customer to Comverse within 7 days after they are received
by the Company, and Comverse will pay back to the Company 15% of each such payment 7 days after its receipt by Comverse. All payments will be made against applicable invoices. 

The
Responsibilities of the Company in a Comverse Sale shall be: Sale support, Installation, Warranty first year service, first and second level support. 

	3.
	A
sale through a local distributor in Singapore (such as Radiance) and Comverse ("Distributor Sale"). In a Distributor Sale the Company
and the Distributor shall be entitled together to a discount of 40% from the APAC price list. The share of the discount between the Distributor and the Company will be coordinated and approved by
Comverse on a case by case basis, in accordance with the responsibilities defined for each side in each specific Distributor Sale. 

The
Payment method in the Distributor Sale will be as in the Comverse sale, with only the Company's share of discount paid to the company as mentioned above in this paragraph. 

In
the event service contracts shall be made with customers of Comverse Sale, the orders of such contracts will be handled and executed by the Company directly, and the Company shall pay Comverse a
commission of 20% of these orders. 

B. Spare Parts  

        The Company shall be responsible, at is own cost and expense, for maintaining and providing spare parts to the end users from the day the Product was supplied by
Comverse, except in a Comverse Sale; in a Comverse Sale, Comverse will be responsible for providing, at its expense, spare parts during the
end customer warranty period. After the end of the warranty period the Company will assume responsibility for the spare parts in a Comverse Sale as well. 

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C. Out of Singapore Technical Support  

        The Company shall provide first and second level support services outside of Singapore in accordance with CCD needs, with Coordination with the Company. The
payment for this activity will be based on travel and lodging expenses plus the day support price for the period of travel, which at the date of this Agreement is 600 S$        . 

D. Amendments  

        Any amendments or changes to this Exhibit C and the fees set forth here in shall be made only with the approval of Comverse' CCD General Manager of Asia
Pacific. 

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QuickLinks

AGREEMENT

EXHIBIT A—CCD PRODUCTS

EXHIBIT B—TRADEMARKS

EXHIBIT C—CCD Terms of Payment/ Commission

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