Document:

Separation Agreement, dated 08/05/2012

 Exhibit 10.32 
 SEPARATION AGREEMENT 
 This Separation Agreement (the
“Agreement”) is made and entered into this 5 day of August, 2012 (the “Execution Date”) by and between Comverse Ltd., an Israeli company (the “Company”), and Oded Golan (Israeli ID number 024652802)
(the “Employee”). 
  

	 WHEREAS:  
	The Employee has been employed by the Company since June 27, 2010, pursuant to an offer letter dated June 15, 2010, which was signed by the Employee on June 16, 2010, and pursuant
to amendments to the employment agreement, dated March 3, 2011, September 22, 2011 and March 29, 2012 (the offer letter and its amendments shall be referred to as the “Employment Agreement”). The Employment
Agreement superseded any earlier employment agreement or other arrangement or understanding, if any; and 

  

	 WHEREAS:  
	It has been mutually agreed by the Employee and the Company that the Employee’s employment with the Company shall be terminated, effective as of the Termination Date, as defined below; and

  

	 WHEREAS:  
	The Employee and the Company have negotiated the terms relating to the termination of the Employee’s employment with the Company; and 

 

	 WHEREAS: 
	The parties wish to, fully and finally settle all matters between them, directly or indirectly connected to and/or arising from the employment relationship between them and the termination
thereof, subject to the terms and conditions set forth herein. 

 NOW
THEREFORE, in consideration for the promises and other good and valuable consideration set forth herein, the parties agree as follows: 
  

	1.	The preamble to this Agreement constitutes an integral part thereof. 

  

	2.	Capitalized terms that are not defined in this Agreement shall have the meaning defined in the Employment Agreement. 

Termination of Employment  
  

	3.	The Employee’s prior notice period shall commence on the Execution Date. 

 

	4.	The Continuous Service Termination Date shall be January 31, 2013. As of the Execution Date and until the Continuous Service Termination Date, the Employee shall
work regularly, on a full time scope of employment and carry out his duties as a Chief Operating Officer (COO), reporting to the Company’s CEO. In addition to the Employee’s regular duties, the Employee shall provide assistance with
respect to the integration of the Employee’s successor. 

  

	5.	August 31, 2013 shall be the Employee’s last day of Employment (the “Termination Date”). 

 

	6.	During the period beginning on the Continuous Service Termination Date and ending on the Termination Date, upon reasonable notice by the Company, the Employee will
provide, without additional compensation in excess of the compensation to which the Employee is entitled under the terms of this Agreement and the Employment Agreement during such period, transition services as may be reasonably requested by the
Company from time to time. Employee shall be entitled to reimbursement of expenses approved in writing (by electronic mail is sufficient) by the Company in advance, that were incurred by the Employee in the course of his provision of the said
transition services. 

  

	7.	As of the Continuous Service Termination Date, the Employee shall have no authority to act for or on behalf of the Company, or to contractually bind the Company, in any
manner whatsoever. The Employee’s signing on this Agreement shall be deemed resignation by the Employee of any position held by the Employee in any Board of Directors or comity in any of the Company’s subsidiaries or affiliates. Such
resignation shall become effective on the Continuous Service Termination Date. 

 Simultaneously with the
execution of this Agreement, the Employee will sign resignation letters from the relevant boards and committees, in a format that will be agreed upon between the Employee and the Company and the Company and the Employee will execute such other
documents as are reasonably required to effect such resignations. 

  
 1 

	 	8.	Until the Termination Date, the Employee shall be entitled to receive all the regular employment terms and benefits, as stipulated in the Employment Agreement and in
all the plans that apply to the Employee on the Execution Date, as if the Employee was working regularly. 

  

	 	9.	The Employee shall be entitled to become employed or engaged (in any capacity, including employee, consultant, advisor, etc.), by another company or business, other
than the Company, prior to the Termination Date, subject to the following terms: 

  

	 	a.	Such employment or engagement shall not commence prior to the Continuous Service Termination Date. 

 

	 	b.	The Employee shall inform the Company’s CEO, in writing, of the identity of the company with which the employee is employed or engaged, and the date in which such
employment or engagement has began. 

  

	 	c.	Such employment or engagement shall comply with the restrictive covenants that the Employee undertook towards the Company. 

Settlement of Accounts 
  

	 	10.	Below is a list of payments which the Employee shall be entitled to receive from the Company following the Termination Date: 

 

	 	a.	Payment of the necessary supplement (if any) to the amount accrued in the severance pay portion of the Employee’s pension plan, so that the Employee will receive
full severance pay per applicable law. 

  

	 	b.	Payment of outstanding monthly salary (including allocations to pension plan and education fund) for the period ending on the Termination Date.

  

	 	c.	Payment for outstanding recuperation pay, if any. 

  

	 	d.	Redemption of accumulated and unutilized vacation days, if any. 

  

	 	e.	Payment of preapproved and outstanding expenses’ reimbursement. 

  

	 	f.	Reimbursement of legal expenses incurred by the Employee in connection of the negotiations of this Agreement, subject to the Employee providing the Company with
detailed invoices documenting the time spent and activities undertaken and the attendant fees. The legal expenses’ reimbursement under this section, including VAT, shall not exceed NIS 8,000. The reimbursement under this section will be paid to
the Employee within 30 (thirty) calendar days from the date in which the Employee submits the relevant invoice to the Company, provided that the invoice is submitted after the Execution Date (as defined above). 

 

	 	g.	Subject to the Employee’s full and complete compliance with all terms and conditions of this Agreement and the Employment Agreement, the Company shall also pay the
following to the Employee: 

  

	 	(i)	An amount of USD 225,000 with respect to the payment entitled to the Employee under section 4(c)(v) to the Employment Agreement. This payment will be made in New
Israeli Shekels, per the prevailing USD – NIS exchange rate as of the day of the Execution Date (as defined above). 

  

	 	(ii)	To the extent the Employee shall be entitled to receive an annual bonus for 2012 under the terms of the Executive Bonus Plan, then such annual bonus will be paid to the
Employee. Such Bonus shall be paid at the same timing it is paid to all the other senior executives of the Company. 

 It is noted that if this payment shall be made by the Company prior to the Termination Date, then the Employee shall not be entitled to any additional payment with respect to annual bonus for year 2012.

  
 2 

	 	11.	Unless stipulated otherwise, the above payments will be made within 30 calendar days from the Termination Date. 

 

	 	12.	Following the Termination Date the Employee shall not be entitled to receive from the Company any other payments or benefits in connection with his employment or the
termination thereof except for the payments listed above, and the deferred stock units, which are referred to below. 

  

	 	13.	The Company will also send release letters to the relevant insurance companies and funds releasing to the Employee all sums (including sums on account of severance
pay), accrued in the Employee’s pension plans and education fund. Copies of the said release letters will be sent to the Employee. 

 Deferred Stock Units (“DSUs”), Restricted Stock Units (“RSUs”) and Options (“Options”) 

 

	 	14.	The Employee hereby declares and affirms that prior to the Execution Date, the Employee was granted with the following DSUs: 

 

	 	a.	Deferred Stock Units (“DSUs”) granted on September 1, 2010: 

 

	 	(i)	10,000 DSUs (“One Time Award”) under the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan. 

 

	 	(ii)	30,000 DSUs under the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan. 

 

	 	b.	60,000 DSUs granted on March 3, 2011 under the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan. 

 

	 	c.	40,000 DSUs granted on July 27, 2011 under the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan. 

 

	 	15.	The above listed DSUs shall continue to vest until the Termination Date. 

  

	 	16.	The 10,000 DSUs (“One Time Award”) granted on September 1, 2010, to the extent then not vested, shall become fully vested on the Termination Date.

  

	 	17.	Any DSU that is not vested on the Termination Date shall be forfeited. 

  

	 	18.	The Employee hereby declares and affirms that prior to the Execution Date, the Employee was granted with the following RSUs: 

70,000 RSUs granted on April 9, 2012 under the Comverse Technology, Inc. 2011 Stock Incentive Compensation Plan.

 The above listed RSUs shall continue to vest until the Termination Date. Any RSU that is not vested on the Termination Date
shall be forfeited. 
  

	 	19.	The Employee hereby declares and affirms that prior to the Execution Date, the Employee was granted with the following Stock Options for the purchase of shares of
Comverse Technology Inc. (the “Options”): 

  

	 	a.	1,020 Options granted on December 23, 2002 under the Comverse Technology, Inc. 2001 Stock Incentive Compensation Plan . 

 

	 	b.	3,500 Options granted on December 19, 2003 under the Comverse Technology, Inc. 2000 Stock Incentive Compensation Plan. 

 

	 	c.	7,000 Options granted on December 6, 2004 under the Comverse Technology, Inc. 2001 Stock Incentive Compensation Plan. 

 

	 	d.	6,000 Options granted on October 14, 2005 under the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan. 

 

	 	e.	9,000 Options granted on May 28, 2009 under the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan. 

  
 3 

	 	20.	 All Options are vested as of the Execution Date. Any Option that is not exercised prior to the 90th day after the Termination Date shall be forfeited. Options shall
expire in accordance with the terms under which they were granted and remain subject to all terms and conditions of the grant agreement and the plans under which they have been granted. 

 

	 	21.	The Employee acknowledges that Comverse Technology, Inc. has announced its intention to distribute 100% of the shares of Comverse, Inc. (“CNS”) to its
shareholders subject to certain conditions (the “Proposed Spinoff”). Further, the Employee acknowledges that, subject to the determination of the Compensation and Leadership Committee of the Comverse Technology, Inc. Board of
Directors (the “Committee”) (and notice to the Company’s employees), acting pursuant to its authority under the plans under which the incentive equity of Comverse Technology, Inc. is granted, upon consummation of the Proposed Spinoff,
to the extent that the Employee continues to provide Continuous Service to the Company, the incentive equity granted to the Employee (including the DSUs, RSUs and Options) will be replaced with CNS incentive equity on substantially similar terms and
conditions, including vesting, granted under a stock incentive plan to be adopted by CNS and which will represent the right to receive common stock of CNS in settlement thereof in accordance with the terms thereof. The Employee acknowledges
that the number of shares of CNS common stock, as well as the other terms and conditions of the CNS equity awards, will be determined by the Committee acting in its sole discretion in order to preserve Employee’s rights under the respective
plans. 

 Waiver of rights to Equity 

 

	 	22.	The Employee hereby declares and affirms that aside from the DSUs, RSUs and Options listed above, the Employee was not promised or had any right to be granted with
additional DSUs, RSUs, Options or any other type of equity securities of the Company and/or its affiliates, parents and subsidiaries whatsoever (together, “Company Equity”). 

Confirmation and General Release 

 

	 	23.	The Employee acknowledges that the receipt of all that is listed under the Settlement of Accounts and Deferred Stock Units, Restricted Stock Units and Options sections
above, constitutes a full and final settlement of everything owed to him, in any matter, by the Company, including, but not limited to, with respect to salary, Company Equity (as defined above) or any other type of equity, severance pay, sick leave,
annual leave, redemption of annual leave, travel expenses, company car, recuperation pay, prior notice, expenses reimbursement, bonuses of any kind, social contributions of all kinds, repayment of salary deductions, commissions, stock, options,
warranties and every other payment or cost or social benefit whatsoever arising out of or connected to the Employee’s employment by the Company and/or the termination thereof. 

 

	 	24.	Subject to the Employee’s receipt of all that is listed under the Settlement of Accounts and Deferred Stock Units, Restricted Stock Units and Options sections
above, the Employee hereby (i) undertakes that neither the Employee nor anyone on his behalf, including assigns (“Releasing Parties”), shall have any present or future claim and/or demand of any kind whatsoever against the
Company and/or its affiliates, parents and subsidiaries, and their respective officers, directors, shareholders, owners, employees, attorneys, advisors, agents, management, or any of their representatives or successors thereof (the “Released
Parties”) and (ii) for himself and each Releasing Party, hereby unconditionally releases and forever discharges the Released Parties from any and all claims, demands, actions, causes of action, proceedings, contracts, agreements,
debts, costs, losses, liabilities, obligations and expenses (including, without limitation, attorneys’ fees and costs) whatsoever, whether known or unknown, suspected or unsuspected, at law or in equity, which he or they now has, have ever had,
or may hereafter have against the respective Released Parties. 

  
 4 

	 	25.	The Employee’s waiver and release herein is intended to bar any form of legal claim, charge, complaint or any other form of action against the Company, solely with
respect to matters which are related to the Employee’s employment by the Company, seeking any form of relief including, without limitation, the recovery of any damages or any other form of monetary recovery whatsoever against the Company, for
any alleged action, inaction or circumstance existing or arising through the Termination Date. 

  

	 	26.	In exchange for the release of claims and all other undertakings by the Employee contained herein, the Company will pay the Employee with the payment per section
4(c)(v) to the Employment Agreement. The Employee hereby acknowledges and agrees that unless he had executed this Agreement, including the waiver and release included herein, he would not have received the aforementioned payments. Therefore, Should
the Employee act in a manner which is non–consistent with the Employee’s waiver and release of claims stipulated hereinabove, it is agreed, that in addition to any of the Company’s other legal rights, the Employee shall return to the
Company the amount of USD 150,000 which the Employee received in accordance to section 4(c)(v) to the Employment Agreement. 

 Company will have the right to withhold and set off the repayment of the above against any amounts due to the Employee from the Company, and said repayment of the above amounts shall bear interest and
shall be linked to the Cost of Living Index in accordance with the law. 
 The Employee shall be further required to indemnify
the Company for any claim, award of compensation or other expense arising from or in relation to any claim made by the Employee, or on his behalf against the Company, including any costs of or associated with the defense of any such claim or the
enforcement of this Agreement in relation to such claim. 
  

	 	27.	For the avoidance of any doubt, this Agreement shall be deemed a settlement and an admission of payment for the purposes of section 29 of the Israeli Severance Pay Law
– 1963. 

 Compliance with Restrictive Covenants. 

 

	 	28.	Without prejudice to any other confidentiality, non-compete, non-solicitation or any other restrictive covenants that the Employee undertook towards the Company, in
accordance with section 4(c)(v) to the Employment Agreement, the Employee hereby undertakes that if the Employee shall breach any of the restrictive covenants which he undertook towards the Company, then the Employee shall return to the Company the
amount of USD 225,000 which the Employee received in accordance to section 4(c)(v) to the Employment Agreement. 

Without limiting the generality of the Employee’s undertakings towards the Company, for the sake of clarity and for removal of doubt,
any employment or engagement of the Employee with Amdocs Limited, its affiliates, parents and subsidiaries, or any entity in the Amdocs group, before the lapse of 12 months from the Termination Date, shall be regarded as breach of the
Employee’s restrictive covenants, including with respect to confidentiality and non-competition. 

Non-Disparagement, Protection of reputation 

 

	 	29.	The Employee shall not, directly or indirectly, make, or cause to be made, any statements, written or oral, that are professionally or personally disparaging or
derogatory about, or adverse to, the interests of the Company (and its officers, directors, executives and managers) and the Company’s affiliates, including, but not limited to, any statements that disparage or interfere with the Company’s
or Company’s affiliates’ relationship with shareholders, customers, business partners, employees, and investors. 

  

	 	30.	The Employee shall not engage in any conduct which is intended to harm professionally or personally the reputation of the Company (and its officers, directors,
executives and managers). The Employee shall refrain from any act or omission which is likely to harm the Company’s reputation. 

  

	 	31.	The Company will instruct its executive officers not to, directly or indirectly, make, or cause to be made, about the Employee, any statements, written or oral, that
are professionally or personally disparaging or derogatory. 

  
 5 

	 	32.	Provision of information, by either the Employee or the Company (including any of the Company’s executive officers), in accordance with a mandatory legal
requirement (such as a requirement by a court or an authorized governmental agency), shall not be deemed to be a breach of the obligations under sections 29, 30 and 31 above. 

Cooperation 
  

	 	33.	The Employee hereby undertakes that until the Termination Date he shall assist the Company and its management, including its board, as may be reasonably required from
time to time. In particular, the Employee shall provide assistance with regard to matters that were under the Employee’s responsibility up to the Execution Date. 

 

	 	34.	At any time after the Termination Date, Employee shall cooperate fully with the Company in connection with any matter or event relating to the period in which the
Employee was employed by the Company or events that occurred during such period, including, without limitation, the defense or prosecution of any claims or actions now in existence or which may be brought or threatened in the future against or on
behalf of the Company, including any claims or actions against its affiliates and its and their officers and executives. 

  

	 	35.	Employee’s cooperation in connection with such matters or events includes, but is not limited to assistance in preparation of litigation related documents, signing
on affidavits, and testifying in court on behalf of the Company. 

  

	 	36.	All above mentioned assistance by the Employee shall be provided by the Employee for no additional compensation, Employee will be entitled to receive reimbursement of
preapproved expenses. However, it is agreed that in the event that the assistance that will be provided by the Employee will require extensive investment of time on behalf of the Employee, then the Company will provide the Employee with reasonable
compensation, which will be USD 300 per hour. 

  

	 	37.	In order to allow the Company to continuously handle issues in which the Employee was involved, including litigation related matters, the Employee hereby gives his
consent that following the Continuous Service Termination Date, the Company will be allowed to review e-mails in the Company’s e-mail account that was assigned to the Employee, and to review any other file that was created or saved by the
Employee on the Company’s computer system. The Employee shall have the opportunity to remove from his e-mail account any personal, private or non-work related correspondence. 

 

	 	38.	The Employee further agrees that should he be contacted (directly or indirectly) by any person or entity (for example, by any party representing an individual or
entity), which makes the Employee aware that such person or entity is adverse to the Company, for the purpose of providing information regarding the Company, then the Employee shall promptly notify the Company’s General Counsel.

 Return of Equipment and Material 

 

	 	39.	By no later than the Continuous Service Termination Date, the Employee shall be obligated to act as follows: 

 

	 	a.	Return the following Company’s equipment to the Company (the “Company’s Equipment”): 

 

	 	(i)	Company’s laptop computer which is currently assigned to the Employee. 

 

	 	(ii)	Company Credit card (including all passwords and pins required for the utilization of the credit card and the access of information regarding the card).

  

	 	(iii)	All keys or cards providing access to the Company’s offices; and 

  

	 	(iv)	Any and all other equipment items, documents (in whatever form or format) or assets of the Company, except for items listed in section 40 below.

  
 6 

	 	b.	Perform all that is required under section 4(d) to the Employment Agreement. 

 

	 	c.	Delete all documents and files related to the Company, which are saved on the Employee’s private computer, PDAs, data storage devices or private e-mail accounts,
and the Employee shall not retain a copy of any such document or file. 

  

	 	40.	By no later than the Termination Date, the Employee shall Return the following Company’s equipment to the Company: 

 

	 	a.	Company Car. If the Company shall be required to pay the leasing company any payment in connection with the early return of the Company car assigned to the Employee,
such payment shall be borne by the Company. 

  

	 	b.	Company purchased blackberry/iPhone/PDA. 

 General Provisions 
  

	 	41.	All terms and conditions of the Employment Agreement and all employment related documents, plans and policies, which apply to the Employee’s employment by the
Company, shall remain unchanged, unless specifically changed in this Agreement. 

  

	 	42.	Company will deduct at source all taxes, social security, health insurance and all other deductions and withholdings, which are mandatory under applicable law. In
addition, any and all debts owed to the Company by the Employee (if any, in its capacity as Company’s employee) will be set off from the payments listed under the Settlement of Accounts section, in accordance with the Wage Protection Law, 1958.

  

	 	43.	No variations or modifications hereof shall be deemed valid unless reduced to writing and signed by the parties hereto. 

 

	 	44.	The failure of the Company to seek enforcement of any provision of this Agreement in any instance or for any period of time shall not be construed as a waiver of such
provision or the Company’s right to seek enforcement of such provision in the future. 

  

	 	45.	Except as otherwise herein expressly provided, this Agreement shall inure to the benefit of and be binding upon the Company, its successors and assigns, including,
without limitation, any Company which may acquire all or substantially all of the Company’s assets or business or with or into which the Company may be consolidated or merged, and to the benefit of, and be binding upon Employee, his heirs,
executors, administrators and legal representatives. 

  

	 	46.	Company shall have the right to assign this Agreement, including all Company’s rights under it. Such assignment will not be subject to the Employee’s consent.
Assignment of this agreement shall be executed by written notification, by the Company to the Employee, and will become effective as of the date indicated on such notification. Employee shall not be entitled to assign this Agreement, including any
Employee’s rights and/or obligations under it, except to an entity wholly owned by the Employee, provided that such assignment by Consultant shall come into effect by way of a written agreement, to which the Company would be a party, and in
which the Employee shall remain liable for the obligation of the Employee hereunder. 

  

	 	47.	The provisions of this Agreement are severable, and if for any reason any part hereof shall be found to be unenforceable, the remaining provisions shall be enforced in
full and construed so as to give them their maximum possible legal effect. 

  

	 	48.	This Agreement shall be governed by and construed in accordance with the laws of the State of Israel and the courts of Israel, District of Tel Aviv, shall have
exclusive jurisdiction over the parties hereto and subject matter hereof. 

  

	 	49.	The Employee hereby confirms and declares that he is fully aware of his rights according to law and his employment agreement, and that this Agreement is signed by the
Employee of his own free will after having checked all accounts with the Company. The Employee further acknowledges that prior to signing this separation agreement he had the opportunity to consult with independent legal counsel and tax advisor of
his choice. 

  
 7 

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

  

					
	Comverse Ltd.	 		  	Oded Golan
	 By: /s/ Sharon Dayan
	 		  	 By: /s/ Oded Golan

	Name: Sharon Dayan	 		  	Date: August 5, 2012
	Title:   Global Head of Human Resources	 		  	
	Date: August 5, 2012	 		  	

  
 8Form of Indemnification Agreement

 Exhibit 10.33 
 DIRECTOR INDEMNIFICATION AGREEMENT 
 This Director Indemnification Agreement,
dated as of             , 2012 (this “Agreement”), is made by and between Comverse, Inc., a Delaware corporation (the “Company”), and
            (“Indemnitee”). 
 RECITALS: 

A. Section 141 of the Delaware General Corporation Law provides that the business and affairs of a corporation shall be managed by
or under the direction of its board of directors. 
 B. By virtue of the managerial prerogatives vested in the directors of a
Delaware corporation, directors act as fiduciaries of the corporation and its stockholders. 
 C. Thus, it is critically
important to the Company and its stockholders that the Company be able to attract and retain the most capable persons reasonably available to serve as directors of the Company. 

D. In recognition of the need for corporations to be able to induce capable and responsible persons to accept positions in corporate
management, Delaware law authorizes (and in some instances requires) corporations to indemnify their directors and officers, and further authorizes corporations to purchase and maintain insurance for the benefit of their directors and officers.

 E. The Delaware courts have recognized that indemnification by a corporation serves the dual policies of (1) allowing
corporate officials to resist unjustified lawsuits, secure in the knowledge that, if vindicated, the corporation will bear the expense of litigation, and (2) encouraging capable persons to serve as corporate directors and officers, secure in
the knowledge that the corporation will absorb the costs of defending their honesty and integrity. 
 F. Under Delaware law, a
director’s right to be reimbursed for the costs of defense of criminal actions, whether such claims are asserted under state or federal law, does not depend upon the merits of the claims asserted against the director and is separate and
distinct from any right to indemnification the director may be able to establish. 
 G. Indemnitee is, or will be, a director or
officer of the Company and his or her willingness to serve in such capacity is predicated, in substantial part, upon the Company’s willingness to indemnify him or her in accordance with the principles reflected above, to the fullest extent
permitted by the laws of the State of Delaware, and upon the other undertakings set forth in this Agreement. 
 H. Therefore, in
recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee’s continued service as a director or officer of the Company and to enhance Indemnitee’s ability to serve
the Company in an effective manner, and in order to provide such protection pursuant to express contract rights (intended to be enforceable irrespective of, among other things, any amendment to the Company’s certificate of incorporation or
bylaws (collectively, the “Constituent Documents”), any change in the composition of the Company’s Board of Directors (the “Board”) or any 

 
change-in-control or business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancement of Expenses to
Indemnitee as set forth in this Agreement and for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies. 

I. In light of the considerations referred to in the preceding recitals, it is the Company’s intention and desire that the
provisions of this Agreement be construed liberally, subject to their express terms, to maximize the protections to be provided to Indemnitee hereunder. 
 AGREEMENT: 
 NOW, THEREFORE, the parties hereby agree as follows: 

1. Certain Definitions. In addition to terms defined elsewhere herein, the following terms have the following meanings when used
in this Agreement with initial capital letters: 
 (a) “Change in Control” shall have occurred at such time, if
any, as Incumbent Directors cease for any reason to constitute a majority of Directors. For purpose of this Section 1(a), “Incumbent Directors” means the individuals who, as of the date hereof, are Directors of the Company and
any individual becoming a Director subsequent to the date hereof whose election, nomination for election by the Company’s stockholders, or appointment, was approved by a vote of at least two-thirds of the then Incumbent Directors (either by a
specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination); provided, however, that an individual shall not be an Incumbent Director if such
individual’s election or appointment to the Board occurs as a result of an actual or threatened election contest (as described in Rule 14a-12(c) of the Securities Exchange Act of 1934, as amended) with respect to the election or
removal of Directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board. 
 (b) “Claim” means (i) any threatened, asserted, pending or completed claim, demand, action, suit or proceeding, whether civil, criminal, administrative, arbitrative, investigative or
other, and whether made pursuant to federal, state or other law; and (ii) any inquiry or investigation, whether made, instituted or conducted, by the Company or any other Person, including without limitation any federal, state or other
governmental entity, that Indemnitee determines might lead to the institution of any such claim, demand, action, suit or proceeding. For the avoidance of doubt, the Company intends indemnity to be provided hereunder in respect of acts or failure to
act prior to, on or after the date hereof. 
 (c) “Controlled Affiliate” means any corporation, limited
liability company, partnership, joint venture, trust or other entity or enterprise, whether or not for profit, that is directly or indirectly controlled by the Company. For purposes of this definition, “control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an entity or enterprise, whether through the ownership of voting securities, through other voting rights, by contract or otherwise;
provided that direct or indirect beneficial ownership of capital stock or other interests in an entity or enterprise entitling the 

  
 2 

 
holder to cast 15% or more of the total number of votes generally entitled to be cast in the election of directors (or persons performing comparable functions) of such entity or enterprise
shall be deemed to constitute control for purposes of this definition. 
 (d) “Disinterested Director” means a
director of the Company who is not and was not a party to the Claim in respect of which indemnification is sought by Indemnitee. 

(e) “Expenses” means attorneys’ and experts’ fees and expenses and all other costs and expenses paid or payable
in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in (including on appeal), any Claim. 

(f) “Indemnifiable Claim” means any Claim based upon, arising out of or resulting from (i) any actual, alleged or
suspected act or failure to act by Indemnitee in his or her capacity as a director, officer, employee or agent of the Company or as a director, officer, employee, member, manager, trustee or agent of any other corporation, limited liability company,
partnership, joint venture, trust or other entity or enterprise, whether or not for profit, as to which Indemnitee is or was serving at the request of the Company, (ii) any actual, alleged or suspected act or failure to act by Indemnitee in
respect of any business, transaction, communication, filing, disclosure or other activity of the Company or any other entity or enterprise referred to in clause (i) of this sentence, or (iii) Indemnitee’s status as a current or former
director, officer, employee or agent of the Company or as a current or former director, officer, employee, member, manager, trustee or agent of the Company or any other entity or enterprise referred to in clause (i) of this sentence or any
actual, alleged or suspected act or failure to act by Indemnitee in connection with any obligation or restriction imposed upon Indemnitee by reason of such status. In addition to any service at the actual request of the Company, for purposes of this
Agreement, Indemnitee shall be deemed to be serving or to have served at the request of the Company as a director, officer, employee, member, manager, agent, trustee or other fiduciary of another entity or enterprise if Indemnitee is or was serving
as a director, officer, employee, member, manager, agent, trustee or other fiduciary of such entity or enterprise and (A) such entity or enterprise is or at the time of such service was a Controlled Affiliate, (B) such entity or enterprise
is or at the time of such service was an employee benefit plan (or related trust) sponsored or maintained by the Company or a Controlled Affiliate, or (C) the Company or a Controlled Affiliate (by action of the Board, any committee thereof or
the Company’s Chief Executive Officer (“CEO”) (other than as the CEO him or herself)) caused or authorized Indemnitee to be nominated, elected, appointed, designated, employed, engaged or selected to serve in such capacity.

 (g) “Indemnifiable Losses” means any and all Losses relating to, arising out of or resulting from any
Indemnifiable Claim; provided, however, that Indemnifiable Losses shall not include Losses incurred by Indemnitee in respect of any Indemnifiable Claim (or any matter or issue therein) as to which Indemnitee shall have been adjudged liable to the
Company, unless and only to the extent that the Delaware Court of Chancery or the court in which such Indemnifiable Claim was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnification for such Expenses as the court shall deem proper. 

  
 3 

 (h) “Independent Counsel” means a law firm, or a member of a law firm, that
is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company (or any subsidiary of the Company) or Indemnitee in any matter material to either such party
(other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements) or (ii) any other named (or, as to a threatened matter, reasonably likely to be named) party
to the Indemnifiable Claim giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (i) “Losses” means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other) and amounts paid or payable in settlement, including
without limitation all interest, assessments and other charges paid or payable in connection with or in respect of any of the foregoing. 
 (j) “Person” means any individual, entity, or group, within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended. 

(k) “Standard of Conduct” means the standard for conduct by Indemnitee that is a condition precedent to indemnification
of Indemnitee hereunder against Indemnifiable Losses relating to, arising out of or resulting from an Indemnifiable Claim. The Standard of Conduct is (i) good faith and reasonable belief by Indemnitee that his or her action was in or not
opposed to the best interests of the Company and, with respect to any criminal action or proceeding, that Indemnitee had no reasonable cause to believe that his or her conduct was unlawful, or (ii) any other applicable standard of conduct that
may hereafter be substituted under Section 145(a) or (b) of the Delaware General Corporation Law or any successor to such provision(s). 
 2. Indemnification Obligation. Subject only to Section 7 and to the proviso in this Section, the Company shall indemnify, defend and hold harmless Indemnitee, to the fullest extent permitted
or required by the laws of the State of Delaware in effect on the date hereof or as such laws may from time to time hereafter be amended to increase the scope of such permitted indemnification, against any and all Indemnifiable Claims and
Indemnifiable Losses; provided, however, that, except as provided in Sections 4 and 20, Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Claim initiated by Indemnitee against the Company
or any director or officer of the Company unless the Company has joined in or consented to the initiation of such Claim. The Company acknowledges that the foregoing obligation may be broader than that now provided by applicable law and the
Company’s Constituent Documents and intends that it be interpreted consistently with this Section and the recitals to this Agreement. 
 3. Advancement of Expenses. Indemnitee shall have the right to advancement by the Company prior to the final disposition of any Indemnifiable Claim of any and all Expenses relating to, arising out
of or resulting from any Indemnifiable Claim paid or incurred by Indemnitee or which Indemnitee determines in good faith are reasonably likely to be paid or 

  
 4 

 
incurred by Indemnitee and as to which Indemnitee’s counsel provides supporting documentation. Without limiting the generality or effect of any other provision hereof, Indemnitee’s
right to such advancement is not subject to the satisfaction of any Standard of Conduct. Without limiting the generality or effect of the foregoing, within five business days after any request by Indemnitee that is accompanied by supporting
documentation for specific Expenses to be reimbursed or advanced, the Company shall, in accordance with such request (but without duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount
sufficient to pay such Expenses, or (c) reimburse Indemnitee for such Expenses; provided that Indemnitee shall repay, without interest any amounts actually advanced to Indemnitee that, at the final disposition of the Indemnifiable Claim to
which the advance related, were in excess of amounts paid or payable by Indemnitee in respect of Expenses relating to, arising out of or resulting from such Indemnifiable Claim. In connection with any such payment, advancement or reimbursement, at
the request of the Company, Indemnitee shall execute and deliver to the Company an undertaking, which need not be secured and shall be accepted without reference to Indemnitee’s ability to repay the Expenses, by or on behalf of the Indemnitee,
to repay any amounts paid, advanced or reimbursed by the Company in respect of Expenses relating to, arising out of or resulting from any Indemnifiable Claim in respect of which it shall have been determined, following the final disposition of such
Indemnifiable Claim and in accordance with Section 7, that Indemnitee is not entitled to indemnification hereunder. 
 4.
Indemnification for Additional Expenses. Without limiting the generality or effect of the foregoing, the Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance
to Indemnitee, within five business days of such request accompanied by supporting documentation for specific Expenses to be reimbursed or advanced, any and all Expenses paid or incurred by Indemnitee or which Indemnitee determines in good faith are
reasonably likely to be paid or incurred by Indemnitee in connection with any Claim made, instituted or conducted by Indemnitee for (a) indemnification or reimbursement or advance payment of Expenses by the Company under any provision of this
Agreement, or under any other agreement or provision of the Constituent Documents now or hereafter in effect relating to Indemnifiable Claims, and/or (b) recovery under any directors’ and officers’ liability insurance policies
maintained by the Company, regardless in each case of whether Indemnitee ultimately is determined to be entitled to such indemnification, reimbursement, advance or insurance recovery, as the case may be; provided, however, that Indemnitee shall
return, without interest, any such advance of Expenses (or portion thereof) which remains unspent at the final disposition of the Claim to which the advance related. 
 5. Partial Indemnity. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Indemnifiable Loss but not for all of the total
amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 

6. Procedure for Notification. To obtain indemnification under this Agreement in respect of an Indemnifiable Claim or
Indemnifiable Loss, Indemnitee shall submit to the Company a written request therefor, including a brief description (based upon information then available to Indemnitee) of such Indemnifiable Claim or Indemnifiable Loss. If, at the time of the
receipt of such request, the Company has directors’ and officers’ liability insurance in effect under which coverage for such Indemnifiable Claim or Indemnifiable Loss is potentially

  
 5 

 
available, the Company shall give prompt written notice of such Indemnifiable Claim or Indemnifiable Loss to the applicable insurers in accordance with the procedures set forth in the applicable
policies. The Company shall provide to Indemnitee a copy of such notice delivered to the applicable insurers and, upon Indemnitee’s request, copies of all subsequent correspondence between the Company and such insurers regarding the
Indemnifiable Claim or Indemnifiable Loss, in each case substantially concurrently with the delivery thereof by the Company. The failure by Indemnitee to timely notify the Company of any Indemnifiable Claim or Indemnifiable Loss shall not relieve
the Company from any liability hereunder unless, and only to the extent that, the Company did not otherwise learn of such Indemnifiable Claim or Indemnifiable Loss and such failure results in forfeiture by the Company of substantial defenses, rights
or insurance coverage. 
 7. Determination of Right to Indemnification. 

(a) To the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Indemnifiable Claim or any
portion thereof or in defense of any issue or matter therein, including without limitation dismissal without prejudice, Indemnitee shall be indemnified against all Indemnifiable Losses relating to, arising out of or resulting from such Indemnifiable
Claim in accordance with Section 2 and no Standard of Conduct Determination (as defined in Section 7(b)) shall be required. 
 (b) To the extent that the provisions of Section 7(a) are inapplicable to an Indemnifiable Claim that shall have been finally disposed of, any determination of whether Indemnitee has satisfied the
applicable Standard of Conduct (a “Standard of Conduct Determination”) shall be made as follows: (i) if a Change in Control shall not have occurred, or if a Change in Control shall have occurred but Indemnitee shall have
requested that the Standard of Conduct Determination be made pursuant to this clause (i), (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (B) if such Disinterested Directors so direct,
by a majority vote of a committee of Disinterested Directors designated by a majority vote of all Disinterested Directors, or (C) if there are no such Disinterested Directors, or if a majority of the Disinterested Directors so direct, by
Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee; and (ii) if a Change in Control shall have occurred and Indemnitee shall not have requested that the Standard of Conduct
Determination be made pursuant to clause (i), by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee. Indemnitee shall cooperate with reasonable requests of the individual or firm
making such Standard of Conduct Determination, including providing to such Person documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to
such determination without incurring any unreimbursed cost in connection therewith. The Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within
five business days of such request accompanied by supporting documentation for specific costs and expenses to be reimbursed or advanced, any and all costs and expenses (including attorneys’ and experts’ fees and expenses) incurred by
Indemnitee in so cooperating with the Person making such Standard of Conduct Determination. 

  
 6 

 (c) The Company shall use its reasonable efforts to cause any Standard of Conduct
Determination required under Section 7(b) to be made as promptly as practicable. If (i) the Person empowered or selected under Section 7 to make the Standard of Conduct Determination shall not have made a determination within 30
calendar days after the later of (A) receipt by the Company of written notice from Indemnitee advising the Company of the final disposition of the applicable Indemnifiable Claim (the date of such receipt being the “Notification
Date”) and (B) the selection of an Independent Counsel, if such determination is to be made by Independent Counsel, that is permitted under the provisions of Section 7(e) to make such determination, and (ii) Indemnitee shall
have fulfilled his or her obligations set forth in the second sentence of Section 7(b), then Indemnitee shall be deemed to have satisfied the applicable Standard of Conduct; provided that such 30-day period may be extended for a reasonable
time, not to exceed an additional 30 calendar days, if the Person making such determination in good faith requires such additional time for the obtaining or evaluation or documentation and/or information relating thereto. 

(d) If (i) Indemnitee shall be entitled to indemnification hereunder against any Indemnifiable Losses pursuant to Section 7(a),
(ii) no determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law is a legally required condition precedent to indemnification of Indemnitee hereunder against any Indemnifiable Losses, or
(iii) Indemnitee has been determined or deemed pursuant to Section 7(b) or (c) to have satisfied the applicable Standard of Conduct, then the Company shall pay to Indemnitee, within five business days after the later of (x) the
Notification Date in respect of the Indemnifiable Claim or portion thereof to which such Indemnifiable Losses are related, out of which such Indemnifiable Losses arose or from which such Indemnifiable Losses resulted and (y) the earliest date
on which the applicable criterion specified in clause (i), (ii) or (iii) above shall have been satisfied, an amount equal to the amount of such Indemnifiable Losses. Nothing herein is intended to mean or imply that the Company is
intending to use Section 145(f) of the Delaware General Corporation Law to dispense with a requirement that Indemnitee meet the applicable Standard of Conduct where it is otherwise required by such statute. 

(e) If a Standard of Conduct Determination is required to be, but has not been, made by Independent Counsel pursuant to
Section 7(b)(i), the Independent Counsel shall be selected by the Board or a Board Committee, and the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Standard of
Conduct Determination is required to be, or to have been, made by Independent Counsel pursuant to Section 7(b)(ii), the Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of
the identity of the Independent Counsel so selected. In either case, Indemnitee or the Company, as applicable, may, within five business days after receiving written notice of selection from the other, deliver to the other a written objection to
such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not satisfy the criteria set forth in the definition of “Independent Counsel” in Section 1(h), and
the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the Person so selected shall act as Independent Counsel. If such written objection is properly and timely made and
substantiated, (i) the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit and (ii) the non-objecting party may,
at its option, select an 

  
 7 

 
alternative Independent Counsel and give written notice to the other party advising such other party of the identity of the alternative Independent Counsel so selected, in which case the
provisions of the two immediately preceding sentences and clause (i) of this sentence shall apply to such subsequent selection and notice. If applicable, the provisions of clause (ii) of the immediately preceding sentence shall apply to
successive alternative selections. If no Independent Counsel that is permitted under the foregoing provisions of this Section 7(e) to make the Standard of Conduct Determination shall have been selected within 30 calendar days after the
Company gives its initial notice pursuant to the first sentence of this Section 7(e) or Indemnitee gives its initial notice pursuant to the second sentence of this Section 7(e), as the case may be, either the Company or Indemnitee may
petition the Court of Chancery of the State of Delaware for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of
a person or firm selected by the Court or by such other person as the Court shall designate, and the person or firm with respect to whom all objections are so resolved or the person or firm so appointed will act as Independent Counsel. In all
events, the Company shall pay all of the actual and reasonable fees and expenses of the Independent Counsel incurred in connection with the Independent Counsel’s determination pursuant to Section 7(b). 

8. Presumption of Entitlement. Notwithstanding any other provision hereof, in making any Standard of Conduct Determination, the
Person making such determination shall presume that Indemnitee has satisfied the applicable Standard of Conduct, and the Company may overcome such presumption only by its adducing clear and convincing evidence to the contrary. Any Standard of
Conduct Determination that is adverse to Indemnitee may be challenged by the Indemnitee in the Court of Chancery of the State of Delaware. No determination by the Company (including by its directors or any Independent Counsel) that Indemnitee has
not satisfied any applicable Standard of Conduct shall be a defense to any Claim by Indemnitee for indemnification or reimbursement or advance payment of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any
applicable Standard of Conduct. 
 9. No Other Presumption. For purposes of this Agreement, the termination of any Claim
by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption that Indemnitee did not meet any applicable Standard of Conduct or that
indemnification hereunder is otherwise not permitted. 
 10. Non Exclusivity. The rights of Indemnitee hereunder will be
in addition to any other rights Indemnitee may have under the Constituent Documents, or the substantive laws of the Company’s jurisdiction of incorporation, any other contract or otherwise (collectively, “Other Indemnity
Provisions”); provided, however, that (a) to the extent that Indemnitee otherwise would have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will without further action be deemed to have such
greater right hereunder, and (b) to the extent that any change is made to any Other Indemnity Provision which permits any greater right to indemnification than that provided under this Agreement as of the date hereof, Indemnitee will be deemed
to have such greater right hereunder. The Company may not, without the consent of Indemnitee, adopt any amendment to any of the Constituent Documents the effect of which would be to deny, diminish or encumber Indemnitee’s right to
indemnification under this Agreement or any Other Indemnity Provision. 

  
 8 

 11. Liability Insurance and Funding. For the duration of Indemnitee’s service as
a director and/or officer of the Company and for not less than six years thereafter, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to cause to be
maintained in effect policies of directors’ and officers’ liability insurance providing coverage for Indemnitee that is at least as favorable in scope and amount to that provided by the Company’s current policies of directors’
and officers’ liability insurance. Upon request, the Company shall provide Indemnitee or his or her counsel with a copy of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements
and other related materials. In all policies of directors’ and officers’ liability insurance obtained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits, subject
to the same limitations, as are accorded to the Company’s directors and officers most favorably insured by such policy. Notwithstanding the foregoing, (i) the Company may, but shall not be required to, create a trust fund, grant a security
interest or use other means, including without limitation a letter of credit, to ensure the payment of such amounts as may be necessary to satisfy its obligations to indemnify and advance expenses pursuant to this Agreement and (ii) in renewing
or seeking to renew any insurance hereunder, the Company will not be required to expend more than 3.0 times the premium amount of the immediately preceding policy period (equitably adjusted if necessary to reflect differences in policy
periods). 
 12. Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent
of such payment to all of the related rights of recovery of Indemnitee against other Persons (other than Indemnitee’s successors), including any entity or enterprise referred to in clause (i) of the definition of “Indemnifiable
Claim” in Section 1(f). Indemnitee shall execute all papers reasonably required to evidence such rights (all of Indemnitee’s reasonable Expenses, including attorneys’ fees and charges, related thereto to be reimbursed by or, at
the option of Indemnitee, advanced by the Company). 
 13. No Duplication of Payments. The Company shall not be liable
under this Agreement to make any payment to Indemnitee in respect of any Indemnifiable Losses to the extent Indemnitee has otherwise already actually received payment (net of Expenses incurred in connection therewith) under any insurance policy, the
Constituent Documents and Other Indemnity Provisions or otherwise (including from any entity or enterprise referred to in clause (i) of the definition of “Indemnifiable Claim” in Section 1(f)) in respect of such Indemnifiable
Losses otherwise indemnifiable hereunder. 
 14. Defense of Claims. Subject to the provisions of applicable policies of
directors’ and officers’ liability insurance, the Company shall be entitled to participate in the defense of any Indemnifiable Claim or to assume or lead the defense thereof with counsel reasonably satisfactory to the Indemnitee; provided
that if Indemnitee determines, after consultation with counsel selected by Indemnitee, that (a) the use of counsel chosen by the Company to represent Indemnitee would present such counsel with an actual or potential conflict, (b) the named
parties in any such Indemnifiable Claim (including any impleaded parties) include both the Company and Indemnitee and Indemnitee shall conclude that there may be one or more legal defenses available to him or her that are different from or in
addition to those available to the Company, (c) any such representation by such counsel would be precluded under the applicable standards of professional conduct then prevailing, or (d) Indemnitee has interests in the claim or underlying

  
 9 

 
subject matter that are different from or in addition to those of other Persons against whom the Claim has been made or might reasonably be expected to be made, then Indemnitee shall be entitled
to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any particular Indemnifiable Claim for all indemnitees in Indemnitee’s circumstances) at the Company’s expense. The Company shall
not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any threatened or pending Indemnifiable Claim effected without the Company’s prior written consent. The Company shall not, without the prior written consent
of the Indemnitee, effect any settlement of any threatened or pending Indemnifiable Claim which the Indemnitee is or could have been a party unless such settlement solely involves the payment of money and includes a complete and unconditional
release of the Indemnitee from all liability on any claims that are the subject matter of such Indemnifiable Claim. Neither the Company nor Indemnitee shall unreasonably withhold its consent to any proposed settlement; provided that Indemnitee may
withhold consent to any settlement that does not provide a complete and unconditional release of Indemnitee. 
 15.
Successors, Binding Agreement and Survival. 
 (a) The Company shall require any successor (whether direct or indirect,
by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement in the same manner and to the same extent the Company would
be required to perform if no such succession had taken place. This Agreement shall be binding upon and inure to the benefit of the Company and any successor to the Company, including without limitation any Person acquiring directly or indirectly all
or substantially all of the business or assets of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed the “Company” for purposes of this Agreement), but shall
not otherwise be assignable or delegable by the Company. 
 (b) This Agreement shall inure to the benefit of and be enforceable
by the Indemnitee’s personal or legal representatives, executors, administrators, heirs, distributees, legatees and other successors. 
 (c) This Agreement is personal in nature and neither of the parties hereto shall, without the consent of the other, assign or delegate this Agreement or any rights or obligations hereunder except as
expressly provided in Sections 15(a) and 15(b). Without limiting the generality or effect of the foregoing, Indemnitee’s right to receive payments hereunder shall not be assignable, whether by pledge, creation of a security interest
or otherwise, other than by a transfer by the Indemnitee’s will or by the laws of descent and distribution, and, in the event of any attempted assignment or transfer contrary to this Section 15(c), the Company shall have no liability to
pay any amount so attempted to be assigned or transferred. 
 (d) For the avoidance of doubt, this Agreement shall survive and
continue even though Indemnitee may have terminated his or her service as a director, officer, employee or agent of the Company or as a director, officer, employee, member, manager, trustee or agent of any other corporation, limited liability
company, partnership, joint venture, trust or other entity or enterprise, whether or not for profit, as to which Indemnitee is or was serving at the request of the Company. 

  
 10 

 16. Notices. For all purposes of this Agreement, all communications, including
without limitation notices, consents, requests or approvals, required or permitted to be given hereunder must be in writing and shall be deemed to have been duly given when hand delivered or dispatched by electronic facsimile or other electronic
transmission (with receipt thereof orally confirmed), or one business day after having been sent for next day delivery by a nationally recognized overnight courier service, addressed to the Company (to the attention of the Secretary of the Company)
and to Indemnitee at the applicable address shown on the signature page hereto, or to such other address as any party may have furnished to the other in writing and in accordance herewith, except that notices of changes of address will be effective
only upon receipt. 
 17. Governing Law. The validity, interpretation, construction and performance of this Agreement
shall be governed by and construed in accordance with the substantive laws of the State of Delaware, without giving effect to the principles of conflict of laws of such State. The Company and Indemnitee each hereby irrevocably consent to the
jurisdiction of the Chancery Court of the State of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement, waive all procedural objections to suit in that jurisdiction, including
without limitation objections as to venue or inconvenience, agree that service in any such action may be made by notice given in accordance with Section 16 and also agree that any action instituted under this Agreement shall be brought only in
the Chancery Court of the State of Delaware. 
 18. Validity. If any provision of this Agreement or the application of
any provision hereof to any Person or circumstance is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to any other Person or circumstance shall not be affected, and the
provision so held to be invalid, unenforceable or otherwise illegal shall be reformed to the extent, and only to the extent, necessary to make it enforceable, valid or legal. In the event that any court or other adjudicative body shall decline to
reform any provision of this Agreement held to be invalid, unenforceable or otherwise illegal as contemplated by the immediately preceding sentence, the parties thereto shall take all such action as may be necessary or appropriate to replace the
provision so held to be invalid, unenforceable or otherwise illegal with one or more alternative provisions that effectuate the purpose and intent of the original provisions of this Agreement as fully as possible without being invalid, unenforceable
or otherwise illegal. 
 19. Miscellaneous. No provision of this Agreement may be waived, modified or discharged unless
such waiver, modification or discharge is agreed to in writing signed by Indemnitee and the Company. No waiver by either party hereto at any time of any breach by the other party hereto or compliance with any condition or provision of this Agreement
to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, expressed or implied with respect to
the subject matter hereof have been made by either party that are not set forth expressly in this Agreement. 
 20. Legal
Fees and Expenses. It is the intent of the Company that Indemnitee not be required to incur legal fees and or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by
litigation or otherwise because the 

  
 11 

 
cost and expense thereof would substantially detract from the benefits intended to be extended to Indemnitee hereunder. Accordingly, without limiting the generality or effect of any other
provision hereof, if it should reasonably appear to Indemnitee that the Company has failed to comply with any of its obligations under this Agreement or in the event that the Company or any other Person takes or threatens to take any action to
declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to improperly deny, or to improperly recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder,
the Company irrevocably authorizes the Indemnitee from time to time to retain counsel of Indemnitee’s choice, at the expense of the Company as hereafter provided, to advise and represent Indemnitee in connection with any such interpretation,
enforcement or defense, including without limitation the initiation or defense of any litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other Person affiliated with the Company, in any
jurisdiction. Without limiting the generality or effect of any other provision hereof or respect to whether Indemnitee prevails, in whole or in part, in connection with any of the foregoing, the Company will pay and be solely financially responsible
for any and all attorneys’ and related fees and expenses actually and reasonably incurred by Indemnitee in connection with any of the foregoing. 
 21. Certain Interpretive Matters. Unless the context of this Agreement otherwise requires, (a) “it” or “its” or words of any gender include each other gender,
(b) words using the singular or plural number also include the plural or singular number, respectively, (c) the terms “hereof,” “herein,” “hereby” and derivative or similar words refer to this entire
Agreement, (d) the terms “Article,” “Section,” “Annex” or “Exhibit” refer to the specified Article, Section, Annex or Exhibit of or to this Agreement, (e) the terms “include,”
“includes” and “including” will be deemed to be followed by the words “without limitation” (whether or not so expressed), and (f) the word “or” is disjunctive but not exclusive. Whenever this Agreement
refers to a number of days, such number will refer to calendar days unless business days are specified and whenever action must be taken (including the giving of notice or the delivery of documents) under this Agreement during a certain period of
time or by a particular date that ends or occurs on a non-business day, then such period or date will be extended until the immediately following business day. As used herein, “business day” means any day other than Saturday, Sunday or a
United States federal holiday. 
 22. Entire Agreement. This Agreement and the Constituent Documents constitute the
entire agreement, and supersede all prior agreements and understandings, both written and oral, between the parties hereto with respect to the subject matter of this Agreement. Any prior agreements or understandings between the parties hereto with
respect to indemnification are hereby terminated and of no further force or effect. 
 23. Counterparts. This Agreement
may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together shall constitute one and the same agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
 12 

 IN WITNESS WHEREOF, Indemnitee has executed and the Company has caused its duly authorized
representative to execute this Agreement as of the date first above written. 
  

			
	COMVERSE, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	INDEMNITEE
	
	 
		
	Name:	 	 
		
	Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}]]