Document:

Second Amendment to Initial Deferred Stock Award Agreement

 Exhibit 10.99 
 

 
 December 3, 2008 

Lance Miyamoto 
 Comverse Technology, Inc.

 810 Seventh Avenue 
 35th Floor

 New York, NY 10019 

Re:  Second Amendment to the initial Deferred Stock Unit Award Agreement (the “Deferred Stock Award Agreement”)
dated as of November 1, 2007 between Comverse Technology, Inc. (the “Company”) and Lance Miyamoto 
 Dear Lance: 

Pursuant to the terms of the Deferred Stock Award Agreement, the Company was required to deliver to you on November 1, 2008 and is
required to deliver to you on November 1, 2009 the number of shares of Company common stock equal to the aggregate number of Granted Units (as defined in the Deferred Stock Award Agreement) that vest as of each date (i.e., 10,000 shares of
Company common stock). The Compensation Committee of the Company’s Board of Directors has determined that it would be beneficial to amend your Deferred Stock Award Agreement to provide greater flexibility as to the timing of the delivery of the
10,000 shares of Company common stock which vested on November 1, 2008 and which will vest on November 1, 2009 in order to alleviate the possibility of the vested Company common stock being required to be delivered to you (and taxable to
you) when the Company common stock is not subject to an effective registration statement and/or other restrictions on the resale of such stock. Accordingly, upon your execution of this letter amendment below and delivery to the Company by
December 23, 2008, the Deferred Stock Award Agreement is hereby amended by adding the following as the last sentence of Section 4(a): 

“Notwithstanding anything to the contrary contained in this Section 4(a), and subject to Section 4(b), the number of shares of Common
Stock deliverable to the Grantee in respect of any Granted Units which vest in calendar years 2008 and 2009 shall be deliverable to the Grantee on the first date within calendar year 2010 on which there is an Effective Registration (as defined
below) in place, but in no event later than December 31, 2010; provided, however, that (i) in the event of the Grantee’s Service Termination in accordance with Section 3(b) prior to December 31, 2010 and there
is no Effective 
  

 810 Seventh Avenue,
35th Floor, New York, NY
10019        Telephone (212) 739 1000  Facsimile (212) 739 1001 

www.cmvt.com 

 
Registration in place or (ii) in the event that any shares are deliverable to the Grantee in respect of Granted Units when there is no effective registration statement on Form S-8 or any
successor form under the Securities Act of 1933, as amended, in respect of the Granted Units, unless the Grantee elects otherwise subject to Section 4(b), the number of shares of Common Stock in respect of any Granted Units which are vested as
of the Termination Date or Vesting Date, as applicable, shall be delivered to the Grantee on the Termination Date or Vesting Date, as applicable, less a number of shares of Common Stock with an aggregate value sufficient to cover any applicable
Withholding Tax, with the shares of Common Stock valued using the closing price of the Common Stock on the Termination Date or Vesting Date, as applicable. For purposes of this Section 4, “Effective Registration” shall mean the
registration of the shares of Common Stock granted to the Grantee hereunder pursuant to an effective registration statement on Form S-8 or any successor form under the Securities Act of 1933, as amended, and no restrictions under applicable law
apply to the resale of such shares of Common Stock at the time of delivery of such shares of Common Stock.” 
 This letter
amendment constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to the subject matter herein and supersedes any other promises, warranties, representations or amendments related to
the subject matter herein, including, without limitation the letter amendment to the initial Deferred Stock Unit Award Agreement dated as of November 1, 2007 between Comverse Technology, Inc. and Lance Miyamoto, dated as of April 29, 2008

 Except as expressly herein amended, the terms and conditions of the Deferred Stock Award Agreement shall remain in full force
and effect. 
  

							
		 		 	COMVERSE TECHNOLOGY INC.
				
		 		 	By:	 	 /s/ Cynthia L. Shereda

		 		 	Name:	 	Cynthia L. Shereda
		 		 	Title:	 	Executive Vice President, General Counsel and Corporate Secretary
				
	Accepted and Agreed as of December 4, 2008:	 		 		 	
				
	 /s/ Lance Miyamoto
	 		 		 	
	Lance Miyamoto	 		 		 	

  

 2Make-Whole Award Deferred Stock Award Agreement - Comverse and Miyamoto

 Exhibit 10.100 

 

	
	Make-Whole Award
	

 COMVERSE TECHNOLOGY,
INC. 
 2005 STOCK INCENTIVE COMPENSATION PLAN

 DEFERRED STOCK AWARD AGREEMENT 

SECTION 1. GRANT OF DEFERRED STOCK UNITS. 

(a) Award. On the terms and conditions set forth in this Agreement, and consistent with the commitments made in the Grantee’s Employment
Agreement, the Company grants to Lance Miyamoto (the “Grantee”) a total of 20,000 Deferred Stock Units (the “Granted Units”) on November 1, 2007 (the “Grant Date”). 

(b) Shareholder Rights. The Grantee (or any successor in interest) shall not have any of the rights of a shareholder (including, without
limitation, voting, dividend and liquidation rights) with respect to the Granted Units until such time as the Company delivers to the Grantee the shares of Common Stock in settlement of the Granted Units, as described in Section 4(a).

 (c) Plan and Defined Terms. This award is granted under and subject to the terms of the 2005 Stock Incentive Compensation Plan (the
“Plan”), which is incorporated herein by reference. Capitalized terms used herein and not defined in the Agreement (including Section 7 hereof) shall have the meaning set forth in the Plan. To the extent any conflict between the terms
of this Agreement (other than Section 7 hereof) and the Plan, the terms of the Plan shall control. 
 (d) Grantee Undertaking. The
Grantee agrees to execute such further instruments and to take such action as may reasonably be necessary to carry out the intent of this Agreement. 

SECTION 2. NO TRANSFER OR ASSIGNMENT OF AWARD. 

This Award and the rights and privileges conferred hereby shall not be sold, pledged or otherwise transferred (whether by operation of law
or otherwise) and shall not be subject to sale under execution, attachment, levy or similar process; provided, however, that the Grantee shall be permitted to transfer this award, in connection with his or her estate plan, to the Grantee’s
spouse, siblings, parents, children and grandchildren or a charitable organization that is exempt under Section 501(c)(3) of the Code or to trusts for the benefit of such persons or partnerships, corporations, limited liability companies or
other entities owned solely by such persons, including trusts for such persons or to the Grantee’s former spouse in accordance with a domestic relations order. 

SECTION 3. VESTING; TERMINATION OF SERVICE. 

(a) Vesting. This award shall vest with respect to one-third of the Granted Units on each of the first, second and third anniversaries of the Grant
Date or such earlier date as may be determined under Section 3(c) hereof (each, a “Vesting Date”). 

			
		 	Make-Whole Award

  

(b) Termination of Continuous Service. Except as otherwise provided in this Section 3, the unvested portion of the award shall be forfeited as
of the date (the “Termination Date”) that the Grantee actually ceases to provide services to the Company or an Affiliate in any capacity as an Employee, Director or Consultant (irrespective of whether the Grantee continues to receive
severance or any other continuation payments or benefits after such date) for any reason (such cessation of the provision of services by Grantee being referred to as “Service Termination”). A Service Termination shall not occur and
Continuous Service shall not be considered interrupted in the case of (i) any vacation, sick leave or approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate, or any successor, in any capacity as an
Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate in any capacity as an Employee, Director or Consultant. 

(c) Certain Terminations. In the event of Service Termination by the Company or an Affiliate without Cause or by the Grantee for Good Reason or
resulting from the Grantee’s Disability, the Granted Units shall vest on the Termination Date and the shares of Common Stock to be issued under the vested Granted Units in accordance with Section 4 of hereof shall be delivered to the
Grantee on the applicable Vesting Date. 
 SECTION 4. SETTLEMENT OF GRANTED UNITS. 

(a) Settlement Amount. Subject to Section 4(b) hereof, the Company shall deliver to the Grantee on each Vesting Date a number of shares of
Common Stock equal to the aggregate number of Granted Units that vest as of such date; provided, however, that no shares of Common Stock will be issued in settlement of this award unless the issuance of shares complies with all relevant provisions
of law and the requirements of any stock exchange upon which the shares of Common Stock may then be listed. No fractional shares of Common Stock will be issued. The Company will pay cash in respect of fractional shares of Common Stock. 

(b) Tax Withholding Requirements. Unless the Grantee has made arrangements satisfactory to the Company to enable it to satisfy all such
withholding requirements, the Company shall withhold from the settlement amount a sufficient number of shares of Common Stock to enable the Company to satisfy its withholding requirements with respect to the settlement of the Granted Units.

 SECTION 5. ADJUSTMENT OF GRANTED UNITS. 

If there shall be any change in the Common Stock of the Company, through merger, consolidation, reorganization, recapitalization, stock
dividend, stock split, reverse stock split, split up, spinoff, combination of shares, exchange of shares, dividend in kind or other like change in capital structure or distribution (other than normal cash dividends), any extraordinary dividend or
distribution of cash or other assets to shareholders of the Company, in order to prevent dilution or enlargement of participants’ rights under the Plan, the Committee shall adjust, in an equitable manner, the number and kind of shares that will
be paid to the Grantee upon settlement of the Granted Units. 
  

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		 	Make-Whole Award

  

SECTION 6. MISCELLANEOUS PROVISIONS. 
 (a)
No Retention Rights, No Future Awards. Nothing in this award or in the Plan shall confer upon the Grantee any right to any future Awards and to continue in Continuous Service for any period of specific duration or interfere with or otherwise
restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Grantee) or of the Grantee, which rights are hereby expressly reserved by each, to terminate his or her Continuous Service at any time and for any
reason, with or without cause. 
 (b) Award Unfunded. The Granted Units represent an unfunded promise. The Grantee’s rights with
respect to the Granted Units are no greater than the rights of a general unsecured creditor of the Company. 
 (c) Notice. Whenever under
this Agreement it becomes necessary to give notice, such notice shall be in writing, signed by the party or parties giving or making the same, and shall be served on the person or persons for whom it is intended or who should be advised or notified,
by Federal Express (or other similar overnight service) or by registered or certified mail, with postage and fees prepaid. Notice shall be addressed to the Company at its principal executive office and to the Grantee at the address that he or she
most recently provided in writing to the Company. 
 (d) Entire Agreement. This Agreement, the Grantee’s Employment Agreement and
the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate
to the subject matter hereof. 
 (e) Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any
other or subsequent breach or condition whether of like or different nature. 
 (f) Successors and Assigns. The provisions of this
Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Grantee, the Grantee’s assigns and the legal representatives, heirs and legatees of the Grantee’s estate, whether or not
any such person shall have become a party to this Agreement and have agreed in writing to be joined herein and be bound by the terms hereof. 

(g) Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York (regardless of the law
that might otherwise govern under applicable New York principles of conflict of laws). 
 (h) Section 409A. Anything to the contrary
herein notwithstanding, the Granted Units are not intended to be “nonqualified deferred compensation” within the meaning of Section 409A and are intended to comply with the “short term deferral” rules under
Section 409A. If, however, the Granted Units or any payment in lieu thereof is deemed to not comply with Section 409A, the Company and the Executive agree to renegotiate in good faith any such benefit or payment (including, without
limitation, as to the timing of any settlement of Granted Units or any payment in lieu thereof) so that either (i) Section 409A will not apply or (ii) compliance with Section 409A will be achieved; provided, however, that any
resulting renegotiated terms shall provide to the Executive the after-tax economic equivalent of what otherwise has been provided 

 

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		 	Make-Whole Award

  

to the Executive pursuant to the terms of this Agreement, and provided further, that any deferral of payments or other benefits shall be only for such time period as may be required to comply
with Section 409A. 
 SECTION 7. DEFINITIONS. 

(a) “Affiliate” shall mean (i) any entity other than the Subsidiaries in which the Company has a substantial direct or indirect
equity interest, as determined by the Board, and (ii) any Subsidiary. 
 (b) “Agreement” shall mean this Deferred Stock
Unit Award Agreement. 
 (c) “Cause” shall have the meaning ascribed to it in the Grantee’s written employment agreement
then in effect. 
 (d) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations
promulgated thereunder. 
 (e) “Disability” shall have the meaning ascribed to it in the Grantee’s written employment
agreement then in effect. 
 (f) “Good Reason” shall have the meaning set forth in the Grantee’s written employment
agreement then in effect. 
 (g) “Grant Date” shall have the meaning described in Section 1(a) of this Agreement. 

(h) “Granted Units” shall have the meaning described in Section 1(a) of this Agreement. 

(i) “Grantee” shall have the meaning described in Section 1(a) of this Agreement. 

(j) “Plan” shall have the meaning described in Section 1(c) of this Agreement. 

(k) “Service Termination” shall have the meaning described in Section 3(b) of this Agreement. 

(l) “Termination Date” shall have the meaning described in Section 3(b) of this Agreement. 

(m) “Vesting Date” shall have the meaning described in Section 3(a) of this Agreement. 

(Signature Page Follows) 
  

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		 	Make-Whole Award

  

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, on November 1, 2007.

  

							
	GRANTEE:	 		 	COMVERSE TECHNOLOGY, INC
				
	 /s/ Lance Miyamoto
	 		 	By:	 	 /s/ Andre Dahan

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