Document:

Exhibit 10.11

Exhibit
10.11

AMENDMENT NO. 1

TO THE

VERINT SYSTEMS INC.

2004 STOCK INCENTIVE COMPENSATION PLAN

THIS AMENDMENT NO. 1 TO THE VERINT SYSTEMS INC. 2004 STOCK INCENTIVE COMPENSATION PLAN is made
effective as of the 23rd day of December 2008, (the “Amendment”) by Verint Systems Inc.,
a Delaware corporation (the “Company”).

WHEREAS, the Board of Directors of the Company has determined that it is in the best interest
of the Company to amend the Verint Systems Inc. 2004 Stock Incentive Compensation Plan (as amended
and restated, the “Plan”), to make technical changes to comply with the requirements of Section
409A of the Internal Revenue Code of 1986, as amended (“Section 409A”);

WHEREAS, the Board of Directors of the Company has determined that this Amendment may be made
without stockholder approval;

NOW, THEREFORE, the Plan is hereby amended as follows:

	1.	 	Section 2.16(b) of the Plan is amended by replacing the following “but if selling prices are
not reported, the FMV of a share of Common Stock shall be the mean between the high bid and
low asked prices for the Common Stock on the date of determination (or, if no such prices were
reported on that date, on the last date such prices were reported), as reported in The Wall
Street Journal or such other sources as the Committee deems reliable” with the following words
“, or if no closing sales price was reported on that date, the closing sale price on the
immediately preceding trading date”.
	 
	2.	 	Section 6.3 of the Plan is replaced in its entirety with the following:
	 
	 	 	Amounts equal to any dividends declared during the Deferral Period with respect to the
number of shares covered by a Deferred Stock Award will be paid at the same time as the
underlying Deferred Stock Award.
	 
	3.	 	The following sentence is added to the end of Section 6.5:
	 
	 	 	The Committee may, in its sole discretion, accelerate the delivery of all or any part of a
Deferred Stock Award or waive the deferral or other limitations or restrictions for all or
any part of a Deferred Stock Award in certain circumstances including among others, a
Holder’s death, disability or a Change in Control; provided, however, if the Deferred Stock
Award is subject to prior distribution elections, such Deferred Stock Award will be paid in
accordance with such distribution election in compliance with Section 409A.
	 
	4.	 	Section 8.3 of the Plan is replaced in its entirety with the following:
	 
	 	 	Amounts equal to any dividends declared with respect to the number of shares of Common Stock
covered by an Award of Restricted Stock Units will be paid at the same time as the
underlying Award of Restricted Stock Units.

 

 

 

	5.	 	The last sentence of Section 8.5 is deleted and replaced in its entirety with the following:
	 
	 	 	At the end of the Restriction Period the restrictions imposed hereunder shall lapse with
respect to the applicable number of Restricted Stock Units as provided in the Restricted
Stock Unit agreement. The Committee may, in its sole discretion, accelerate the delivery of
all or any part of an Award of Restricted Stock Units or waive the deferral or other
limitations or restrictions for all or any part of an Award of Restricted Stock Units in
certain circumstances including among others, a Holder’s death, disability or a Change in
Control; provided, however, if the Award of Restricted Stock Units is subject to prior
distribution elections, such Award of Restricted Stock Units will be paid in accordance with
such distribution election in compliance with Section 409A.
	 
	6.	 	The last sentence of Section 9.2 of the Plan is deleted in its entirety.
	 
	7.	 	The last sentence of Section 9.11 is replaced in its entirety with the following:
	 
	 	 	The Committee may, in its sole discretion, modify or accelerate the vesting and delivery of
Options in certain circumstances including, among others, a Holder’s death, disability or a
Change in Control; provided, however, if the Option is considered deferred compensation
under Section 409A of the Code, such Option will be vested and delivered in accordance with
prior distribution election in compliance with Section 409A.
	 
	8.	 	The last sentence of Section 10.2 of the Plan is replaced in its entirety with the following:
	 
	 	 	The base price of a Freestanding SAR shall be not less than 100% of the Fair Market Value of
the Common Stock, as determined by the Committee, on the date of grant.
	 
	9.	 	A new sentence is added to the end of Section 12 as follows:
	 
	 	 	Notwithstanding any provision of this Plan to the contrary, to the extent an award shall be
deemed to be vested or restrictions lapse, expire or terminate upon the occurrence of a
Change in Control and such Change in Control is not described by Section 409A(a)(2)(A)(v) of
the Code, then any resulting payment permitted by Section 12 that would be considered
deferred compensation under Section 409A of the Code will instead be made to the Holder on
the 30th day following the earliest of (A) the Holder’s “separation from service”
with the Company (determined in accordance with Section 409A), (B) the date payment would
have otherwise been made in the absence of any provisions in this Plan to the contrary
(provided such date is permissible under Section 409A), or (C) the Holder’s death.
	 
	10.	 	Section 15.5 of the Plan is deleted in its entirety.
	 

 

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	11.	 	A new Section 17 is added to the Plan:

	 	17.	 	Compliance with Section 409A.
	 
	 	17.1	 	It is the intention that any amounts payable under this Plan comply with the provisions
of Section 409A so as not to subject any Holder to the payment
of the additional tax, interest and any tax penalty which may be imposed under Section 409A. In
furtherance thereof, to the extent that any provision hereof would result in any Holder
being subject to payment of the additional tax, interest and tax penalty under Section 409A,
the Company and the Holder agree to amend this Plan in order to bring this Plan into
compliance with Section 409A; without materially changing the economic value of the
arrangements under this Plan to the Company or any Holder; and thereafter the Company and
any Holder interpret its provisions in a manner that complies with Section 409A.
Notwithstanding the foregoing, no particular tax result for any Holder with respect to any
income recognized by the Holder in connection with this Plan is guaranteed.
	 
	 	17.2.	 	Notwithstanding any provisions of this Plan to the contrary, if the Holder is a
“specified employee” (within the meaning of Section 409A and determined pursuant to policies
adopted by the Company) at the time of his or her separation from service and if any portion
of the payments or benefits to be received by the Holder upon separation from service would
be considered deferred compensation under Section 409A, amounts that would otherwise be
payable pursuant to this Plan during the six-month period immediately following the Holder’s
separation from service and benefits that would otherwise be provided pursuant to this Plan
during the six-month period immediately following the Holder’s separation from service will
instead be paid or made available on the earlier of (i) the first day of the seventh month
following the date of the Holder’s “separation from service” (within the meaning of Section
409A) and (ii) the Holder’s death.

Except as specifically amended by this Amendment, the Plan shall remain in full force and effect in
accordance with its terms.

 

- 3 -Exhibit 10.15

Exhibit
10.15

AMENDMENT NO. 3

TO THE

WITNESS SYSTEMS, INC.

AMENDED AND RESTATED STOCK INCENTIVE PLAN

THIS AMENDMENT NO. 3 TO THE WITNESS SYSTEMS, INC. AMENDED AND RESTATED STOCK INCENTIVE PLAN
(this “Amendment”) is made effective as of the 6th day of December 2007, by Verint
Systems Inc., a Delaware corporation (the “Company”).

WITNESSETH:

WHEREAS, the Company has acquired Witness Systems, Inc., and in connection therewith, has
assumed the Witness Systems, Inc. Amended and Restated Stock Incentive Plan (as amended, the
“Plan”); and

WHEREAS, the Board of Directors of the Company has determined that it is in the best interest
of the Company to amend the Plan to provide for the award of restricted stock units;

WHEREAS, the Board of Directors of the Company has determined that this Amendment may be made
without stockholder approval;

NOW, THEREFORE, in consideration of the premises and mutual promises contained herein, the
Plan is hereby amended as follows:

1. A new Section 7.5 is hereby added to the Plan as follows:

“7.5 Terms and Conditions of Restricted Stock Units.

A Restricted Stock Unit Award is an award which may be settled for shares of Common Stock.
Such an award shall be subject to the following terms and conditions.

Restricted Stock Unit Awards shall be evidenced by Stock Incentive Agreements. Such
agreements shall conform to the requirements of the Plan and may contain such other restrictions or
provisions as the Board shall deem advisable.

Upon determination of the number of Restricted Stock Units to be awarded to a Participant, the
Board shall direct that the same be credited to the Participant’s account on the books of the
Company but the underlying shares of Common Stock shall be delivered only upon vesting of the
Restricted Stock Units as provided herein. The Participant shall have no rights as a stockholder
with respect to any shares underlying the Restricted Stock Units prior to issuance and delivery of
the shares of Common Stock upon vesting of the Restricted Stock Units.

 

 

 

Amounts equal to any dividends declared with respect to the number of shares of Common Stock
covered by a Restricted Stock Unit Award may or may not be paid to the Participant currently, or
may or may not be deferred and deemed to be reinvested in additional Restricted Stock Units, or
otherwise reinvested on such terms as are determined at the time of the grant of the Restricted
Stock Unit Award by the Board, in its sole discretion, and specified in the Stock Incentive
Agreement.

The Board may condition the grant of a Restricted Stock Unit Award or the vesting thereof upon
the Participant’s achievement of one or more performance goal(s) specified in the Stock Incentive
Agreement. If the Participant fails to achieve the specified performance goal(s), either the Board
shall not grant the Restricted Stock Unit Award to such Participant or the Participant shall not
vest into and/or shall forfeit the Restricted Stock Unit Award.

The Stock Incentive Agreement shall specify the vesting period and the performance, employment
or other conditions (including the termination of a Participant’s service with the Company, whether
due to death, disability, retirement or other cause) under which the Restricted Stock Unit Award
may be forfeited to the Company. The vesting period shall be determined at the discretion of the
Board. The Board shall have the power to permit, in its discretion, an acceleration of the vesting
period with respect to any part or all of the Restricted Stock Unit Award.

The Board may require a cash payment from the Participant in an amount no greater than the
aggregate Fair Market Value of the shares of Common Stock underlying the Restricted Stock Unit
Award determined at the date of grant in exchange for the award or may grant the Restricted Stock
Unit Award without the requirement of a cash payment.

All references in this Plan to “Restricted Stock Awards” other than in Section 7.4 shall be
deemed to include Restricted Stock Unit Awards unless the context requires otherwise.”

2. Except as specifically amended by this Amendment, the Plan shall remain in full force and effect
as prior to this Amendment.

 

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