Document:

Tax Disaffiliation Agreement

 Exhibit 10.3 
 TAX DISAFFILIATION AGREEMENT 
 BY AND BETWEEN 

COMVERSE TECHNOLOGY, INC. 
 AND 
 COMVERSE, INC. 

DATED AS OF OCTOBER 31, 2012 

 TAX DISAFFILIATION AGREEMENT 

This Tax Disaffiliation Agreement (this “Agreement”), is dated as of October 31, 2012, by and between Comverse Technology,
Inc., a New York corporation (“CTI”), and Comverse, Inc., a Delaware corporation and a wholly-owned subsidiary of CTI (“Comverse” and, together with CTI, the “Parties” and each a “Party”). 

W I T N E S S E T H 

WHEREAS, Comverse is currently a member of the CTI Consolidated Group (as defined herein); 

WHEREAS, pursuant to the Distribution Agreement entered into between CTI and Comverse dated as of the date hereof (the “Distribution
Agreement”), CTI shall distribute all of the outstanding capital stock of Comverse to its stockholders (the “Distribution”); 
 WHEREAS, the Parties wish to provide for the payment of Taxes and entitlement to Refunds thereof, allocate responsibility for, and cooperation in, the filing of Tax Returns and provide for certain other
matters relating to Taxes. 
 NOW, THEREFORE, in consideration of the mutual promises and undertakings contained herein and in
any other document executed in connection with this Agreement, the Parties agree as follows: 
 ARTICLE I 

DEFINITIONS; CERTAIN OPERATING CONVENTIONS 
 Section 1.01. For the purposes of this Agreement, the following terms shall have the meanings set forth below: 
 “Agreement” shall have the meaning ascribed thereto in the introductory paragraph. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Combined Return” means any Tax Return that includes at least one asset or activity (including but not limited to any item of
income, deduction, gain, loss, or credit) that is allocable pursuant to this Agreement to the CTI Pre-Distribution Group or the CTI Group and at least one asset or activity (including but not limited to any item of income, deduction, gain, loss, or
credit) that is allocable to the Comverse Group. 
 “Comverse” shall have the meaning ascribed thereto in the
introductory paragraph, and shall include any successor of Comverse. 
 “Comverse Group” means Comverse and each
Person that is, or may become, a wholly-owned Subsidiary of Comverse as of the day after the Distribution Date. 

  
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 “Comverse Indemnitees” shall have the meaning ascribed thereto in the Distribution
Agreement. 
 “CTI” shall have the meaning ascribed thereto in the introductory paragraph, and shall include any
successor of CTI, including for U.S. federal tax purposes. 
 “CTI Consolidated Group” means the affiliated group of
corporations, within the meaning of Section 1504(a) of the Code, of which CTI is the common parent corporation, and any member of such group. 
 “CTI Group” means CTI and each Person (other than any member of the Comverse Group) that is, or may become, a wholly-owned Subsidiary of CTI as of the day after the Distribution Date.

 “CTI Indemnitees” shall have the meaning ascribed thereto in the Distribution Agreement. 

“CTI Pre-Distribution Group” means CTI and each Person that is a Subsidiary of CTI at any time before the end of the day of the
Distribution Date, other than Verint and its Subsidiaries. 
 “Distribution” shall have the meaning set forth in the
Recitals. 
 “Distribution Agreement” shall have the meaning set forth in the Recitals. 

“Distribution Date” shall have the meaning ascribed thereto in the Distribution Agreement. 

“Group” means the CTI Pre-Distribution Group, CTI Group or the Comverse Group, as the context may require. 

“Indemnifying Party” means any Person from which an Indemnified Party is seeking indemnification pursuant to the provisions of
this Agreement. 
 “Indemnified Party” means any Person seeking indemnification from an Indemnifying Party pursuant to
the provisions of this Agreement. 
 “IRS” means the United States Internal Revenue Service. 

“Merger” means the merger transaction contemplated by the Merger Agreement 

“Merger Agreement” means the Agreement and Plan of Merger among Verint, Comverse Technology, Inc., and Victory Acquisition I
LLC, dated as of August 12, 2012. 
 “Newco” shall have the meaning ascribed thereto in Section 6.13.

 “Outside Notice Date” shall have the meaning ascribed thereto in the Distribution Agreement. 

  
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 “Party” and “Parties” shall have the meaning ascribed thereto in the
introductory paragraph. 
 “Person” means any natural person, corporation, business trust, limited liability company,
joint venture, association, company, partnership or government, or any agency or subdivision thereof. 
 “Post-Distribution
Taxable Period” means a taxable period that begins on the day after the Distribution Date. 
 “Pre-Distribution
Taxable Period” means a taxable period that ends at the end of the day of or before the Distribution Date. 

“Prepared Tax Returns” shall have the meaning ascribed thereto in Section 3.01(a).

“Refund” means any refund of Taxes, including any reduction in liability for such Taxes by means of a credit, offset or
otherwise. 
 “Statute of Limitations” means the period permitted by law during which a Tax Authority may assess and
collect a Tax, which, for the avoidance of doubt, includes any extension or waiver of such period resulting from the utilization of any Tax Attribute. 
 “Straddle Period” means a taxable period that includes, but does not end on, the Distribution Date. 
 “Subsidiary” shall have the meaning ascribed thereto in the Distribution Agreement. 
 “Tax” or “Taxes” means all federal, state, local and foreign taxes, charges, fees, imposts, levies or other assessments, including, without limitation, all net income, gross receipts,
capital, sales, use, gains, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll, employment, social security, unemployment, excise, severance, stamp, occupation, property and estimated
taxes, custom duties, fees, assessments and charges of any kind whatsoever, together with any interest and any penalties, fines, additions to tax or additional amounts imposed by any Tax Authority (domestic or foreign) and shall include any
liability in respect of Taxes imposed by Treasury Regulations Section 1.1502-6, as transferee or successor, by contract or otherwise. 
 “Tax Attributes” means net operating losses, capital losses, earnings and profits, previously taxed income, credits, those items set forth in Section 381(c) of the Code and all other Tax
attributes. 
 “Tax Authority” means the IRS and any other domestic or foreign governmental authority responsible for
the administration, assessment or collection of Taxes. 
 “Tax Proceeding” means any audit or other examination, or
any judicial or administrative proceeding, relating to liability for or Refunds with respect to Taxes. 

  
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 “Tax Returns” means all reports, returns, filings, declaration forms, claims for
Refunds and statements filed or required to be filed with respect to Taxes; including any amendments thereto (whether on a separate, consolidated or unitary basis). 
 “Taxable Year” means the year or portion of a year on the basis of which taxable income is computed or during which a Tax is assessed. 

“Transaction Party” shall have the meaning ascribed thereto in Section 6.02. 

“Transfer Taxes” means any sales, use, stock transfer, real property transfer, real property gains, transfer, stamp,
registration, documentary, recording or other similar duties or Taxes, together with any interest thereon, penalties, fines, costs, fee, additions to tax or additional amounts with respect thereto, incurred in connection with the transactions
contemplated by the Distribution Agreement. 
 “Treasury Regulations” means the regulations under the Code promulgated
by the United States Department of the Treasury. 
 “TSA” means the Transition Services Agreement, between Comverse
and CTI, dated as of the date hereof. 
 “Verint” means Verint Systems Inc. 

“Verint Tax Attribute” means a Tax Attribute of Verint that was not a Tax Attribute of the CTI Pre-Distribution Group.

 Section 1.02. Other Definitional Provisions. 

(a) Capitalized terms not otherwise defined in this Agreement shall have the meaning ascribed to them in the Distribution Agreement.

 (b) The words “hereof, “herein”, and “hereunder” and words of similar import, when used in this
Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. 
 (c) The terms
defined in the singular shall have a comparable meaning when used in the plural, and vice versa. 
 ARTICLE II 

RESPONSIBILITY, ALLOCATION, AND PAYMENT 
 Section 2.01. Responsibility for and Allocation of Taxes. 
 (a) Except
as provided in Section 2.01(b), CTI and Comverse shall each be separately responsible for paying the Taxes of the CTI Pre-Distribution Group, CTI Group and the Comverse Group as follows: Comverse shall be responsible for paying all Taxes
(i) of the CTI Pre-Distribution Group for the Pre-Distribution Taxable Period and the portion of any Straddle 

  
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Period ending on the Distribution Date and (ii) of the Comverse Group for the Post-Distribution Taxable Period and the portion of any Straddle Period beginning on the day after the
Distribution Date. CTI shall be responsible for paying all Taxes of the CTI Group for the Post-Distribution Taxable Period and the portion of any Straddle Period beginning on the day after the Distribution Date. 

(b) Comverse shall be liable for any Transfer Taxes. The Parties shall cooperate in good faith to minimize the amount of any Transfer
Taxes and to obtain any Refunds thereof. Unless otherwise required by applicable law, Comverse shall be responsible for preparing and timely filing any Tax Return relating to Transfer Taxes. 

(c) In any case in which a Tax is assessed with respect to a Straddle Period, the Taxes, if any, attributable to a Straddle Period shall
be allocated as follows: (i) Taxes based upon or related to income, gain or receipts shall be allocated based upon a closing of the books of the relevant members of the CTI Pre-Distribution Group, CTI Group and the Comverse Group as of the end
of the day on the Distribution Date, provided, however, that credits, exemptions, depreciation, amortization and cost recovery deductions shall be taken into account in accordance with the principles of clause (iii) below; (ii) Taxes
(other than those specified in (i)) imposed on specific transactions (e.g., sales and payroll) shall be allocated based on the day on which such transactions occur; and (iii) any Taxes not covered by clause (i) or (ii) above
shall be allocated based upon the number of calendar days in the portion of the Straddle Period ending on the Distribution Date and the number of calendar days in the portion of the Straddle Period beginning the day after the Distribution Date, as
determined on a per diem basis. 
 Section 2.02. Tax Attributes. Tax Attributes of the CTI
Pre-Distribution Group existing on the Distribution Date shall be allocated between the CTI Group and the Comverse Group in accordance with the Code and Treasury Regulations (and any applicable state, local and foreign laws or regulations). CTI and
Comverse shall jointly determine the amounts of such Tax Attributes as soon as reasonably practicable following the Distribution Date, and hereby agree to compute and to have their Subsidiaries compute, all Taxes for Taxable Years ending after the
Distribution Date consistently with that determination, except as otherwise required by applicable law. 
 Section 2.03.
Penalties, Additions to Tax and Interest. Penalties, fines, costs, fees, additions to Tax, interest and other similar items on any Tax deficiencies or overpayments will be allocated as the underlying deficiencies or overpayments are
allocated under this Agreement. 
 Section 2.04. Payment of Taxes. Each of CTI and Comverse agrees to timely
pay or cause to be timely paid all Taxes for which it is responsible pursuant to Section 2.01 (which, for the avoidance of doubt, shall not include any payment from one Party to the other for any use of, or any reduction in, any Tax Attributes
of the CTI Pre-Distribution Group, CTI Group or the Comverse Group). 
 Comverse shall timely pay or cause to be paid to CTI, no
later than five (5) days prior to the filing of a Tax Return, an amount equal to the Tax of Comverse determined under Sections 2.01(a), reflected on a Combined Return filed by CTI or a member of the CTI Group. CTI and Comverse shall each
be responsible to timely pay or cause to be timely paid to the applicable Tax Authority all Taxes that are reflected on a Tax Return filed by a member of their respective Groups. 

  
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 Section 2.05. Allocation of Estimated Tax Payments. Any payment of
estimated Taxes prior to the Distribution shall be allocated to, and treated as paid by, Comverse. 
 Section 2.06.
Characterization of Distribution and Payments. For all applicable income Tax purposes, the CTI Pre-Distribution Group, the CTI Group and the Comverse Group agree to treat (i) the Distribution as a taxable distribution under the Code,
(ii) any payment required to be made from one Party to the other Party pursuant to this Agreement as either a contribution by CTI to Comverse or a distribution by Comverse to CTI, as the case may be, occurring immediately prior to the
Distribution Date, and (iii) any receipt or payment of interest or Refund or payment of non-federal Taxes by or to a Tax Authority, as includible in taxable income or deductible from taxable income, as the case may be, of the Party entitled or
obligated under this Agreement to receive or make such payment, in either case except as otherwise mandated by applicable law. 

ARTICLE III 

PREPARATION AND FILING OF TAX RETURNS, COOPERATION 
 AND RECORD RETENTION 
 Section 3.01. Preparation of Tax
Returns. (a) Comverse shall be responsible for the preparation of (i) all Tax Returns required to be filed by the Comverse Group and (ii) those Tax Returns required to be filed by the CTI Pre-Distribution Group or CTI Group
as provided in the TSA. All such Tax Returns shall be prepared in a manner that is consistent with past practice, unless otherwise required by applicable law. Comverse shall be responsible for the preparation of all other Tax Returns required to be
filed by the CTI Pre-Distribution Group. Notwithstanding any provision of the TSA, the CTI Pre-Distribution Group’s and the CTI Group’s U.S. federal income, New York State income, New York City income Tax Returns, and all material Tax
Returns for the taxable years ending 1/31/2012 and 1/31/2013 (or such other date on which the taxable period ends, in the case of a short taxable period)(the “Applicable Tax Returns”) shall be reviewed and signed by a “big 4”
accounting firm as preparer (the “Accounting Review Requirement”). For this purpose, the term “review” or “reviewed” means solely the processes and procedures that such accounting firm is required to perform in order to
sign such Tax Returns as preparer. Prior to incurring any costs of such review, each of CTI and Comverse will in good faith work together with such accounting firm to agree upon the costs (the “Accounting Review Costs”), scope of work, and
the terms of the engagement with respect to the Accounting Review Requirement. Comverse shall bear the entire cost of the preparation of such Tax Returns, and both Comverse and CTI shall equally bear the cost of the Accounting Review Costs. With
respect to all other Tax Returns, the Party required to prepare any such Tax Return pursuant to this Section 3.01 shall bear all costs relating to the preparation of such Tax Return, including costs for the use of third party contractors,
except as otherwise provided in the TSA. To the extent a CTI officer no longer serving in such capacity with CTI (or its successor) is permitted to sign the U.S. federal consolidated income, New York State income and New York City income Tax Returns
for the taxable years ending 1/31/2012 of the CTI Pre-Distribution Group (but only to the extent such return has not been filed by the date of the Merger) and 

  
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1/31/2013 of the CTI Group (the “Prepared Tax Returns”), the chief financial officer of CTI as of January 31, 2013, to the extent then employed as an officer of Comverse, shall
sign the Prepared Tax Returns as taxpayer. If such CTI officer is not able to sign the Prepared Tax Returns, a responsible corporate officer of Comverse shall provide to Verint the 2013 certification (or 2012 certification, if necessary) set forth
in Schedule 3.01. 
 CTI or Comverse, as the case may be, shall be permitted to review and comment on any Tax Return prepared by
the other Party pursuant to this Section 3.01(a) for which Taxes are allocated in accordance with Section 2.01. In particular, the Party that prepares such Tax Return shall deliver a copy of such Tax Return, together with a statement
calculating the portion of the Taxes payable by the other Party, if any, to the other Party for such Party’s review and consent, not to be unreasonably withheld, no later than twenty (20) days prior to the due date for filing thereof or
such shorter period as the circumstances require (but only in the case of non-income Tax Returns). Any dispute in respect of any such Tax Return shall be resolved by a mutually agreed, independent, internationally recognized accounting firm. If the
Parties cannot mutually agree on the accounting firm to resolve such dispute, each Party shall choose an independent, internationally recognized accounting firm, and the mutual conclusion reached by these two accounting firms shall resolve such
dispute. If these two accounting firms do not reach a mutual conclusion in resolution of the dispute, the two accounting firms shall mutually choose a third independent, internationally recognized accounting firm to resolve the dispute and such
third accounting firm’s resolution shall be final as between the Parties. The costs of each of the Parties, including any costs incurred to engage its chosen accounting firm, shall become the sole cost and responsibility of the choosing Party,
and the costs related to the third accounting firm shall be the responsibility of the Party that does not prevail in the dispute. The Party required to file any Tax Return subject to a dispute shall file such disputed Tax Return on the due date
thereof (taking into account any applicable timely filed extension) in the manner that it sees fit, without prejudice to the resolution of such dispute. 
 (b) Except as provided in Section 4.02 below or as otherwise required by applicable law, neither Party nor any of its Affiliates shall amend, refile, revoke, rescind or otherwise modify any Tax
Return, Tax election or method of accounting filed for CTI with respect to any taxable year ending on or prior to the end of the year that includes the Distribution Date or the CTI Pre-Distribution Group with respect to a Pre-Distribution Taxable
Period without the prior written consent of the other Party, which consent may not be unreasonably withheld. 
 (c) For the
avoidance of doubt, in the preparation of any Tax Return pursuant to this Article III, no election shall be made pursuant to Treasury Regulations Section 1.1502-36(d)(6)(i)(B). 

Section 3.02. Filing of Tax Returns. The Party required to file any Tax Return prepared in accordance with
Section 3.01 shall file such Tax Return on or prior to the due date (taking into account any applicable timely filed extension) for filing thereof. 
 Section 3.03. Cooperation; Maintenance and Retention of Records. CTI and Comverse shall, and shall cause the CTI Group and the Comverse Group respectively to, provide the requesting
Party with such assistance, access to personnel, and documents as may be reasonably requested by such Party, including, for the avoidance of doubt, the execution of any document, in 

  
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connection with (i) the preparation of any Tax Return, (ii) the conduct of any Tax Proceeding, (iii) any matter relating to Taxes of any member of the CTI Pre-Distribution Group,
CTI Group or Comverse Group, (iv) any other matter that is a subject of this Agreement, and (v) to allow CTI to update the Chucktaylor Disclosure Letter (as defined in the Merger Agreement). CTI and Comverse shall retain or cause to be
retained all Tax Returns, schedules and workpapers, and all material records or other documents relating thereto, in each case, that are currently in their possession, until the expiration of the Statute of Limitations (including any waivers or
extensions thereof) of the taxable periods to which such Tax Returns and other documents relate or until the expiration of any additional period that any Party reasonably requests, in writing, with respect to specific material records or documents.
A Party intending to destroy any material records or documents shall provide the other Party with reasonable advance written notice and the opportunity to copy or take possession of such records and documents, at the expense of the requesting Party.
The Parties hereto will notify each other in writing of any waivers or extensions of the applicable Statute of Limitations that may affect the period for which the foregoing records or other documents must be retained. 

Section 3.04. Provision of Tax Returns, Workpapers, Etc. Prior to the Distribution Date, Comverse shall provide and
CTI shall have in its possession true and complete copies of each Tax-related document that Comverse has in its possession that is referenced in Section 3.03 with respect to Comverse and each of its Subsidiaries for each Taxable Year beginning
with 2008 through the Taxable Year of the Distribution. At its own expense, Comverse shall use reasonable best efforts to solicit (no later than the Distribution Date) from Ernst & Young LLP and/or any other relevant tax advisor the
documents referenced in Section 3.03 for Taxable Years beginning with 1999 through the Taxable Year of the Distribution, and provide such documents to CTI as soon as reasonably practicable following receipt thereof (it being understood that
Comverse shall not be required to incur any extraordinary expense (for the avoidance of doubt, not to include valid past due charges for accounting and Tax services) to satisfy its obligations under this Section 3.04, with respect to Taxable
Years 1999 through 2007). 
 ARTICLE IV 
 REFUNDS 
 Section 4.01. Refunds of Taxes. Except as provided in
Section 4.02 below, Comverse and CTI shall each be entitled to receive and retain any Refund relating to Taxes (plus any interest thereon received with respect thereto from the applicable Tax Authority) for which such Party is or may be liable
pursuant to Articles II and V of this Agreement. A Party receiving a Refund to which another Party is entitled pursuant to this Agreement shall pay the amount to which such other Party is entitled (plus any interest thereon received with respect
thereto from the applicable Tax Authority less any Taxes payable by reason of the receipt of such Refund and interest) within thirty (30) days after the receipt of the Refund. 

Section 4.02. Carrybacks. (a) The carryback of any loss, credit or other Tax Attribute in any Post-Distribution
Taxable Period shall be in accordance with the provisions of the Code and Treasury Regulations (and any applicable state, local or foreign laws or regulations). 

  
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 (b)(i) Subject to Section 4.02(c) and (d), in the event that any member of the Comverse
Group realizes any loss, credit or other Tax Attribute in any Post-Distribution Taxable Period, such member may elect to carry back such loss, credit or Tax Attribute to a Pre-Distribution Taxable Period or the portion of a Straddle Period ending on
the Distribution Date. CTI shall cooperate with Comverse and such member in seeking from the appropriate Tax Authority any Refund that reasonably would result from such carryback (including by filing an amended Tax Return) at Comverse’s cost
and expense. Comverse shall be entitled to any Refund (or other Tax benefit) received by the CTI Group (including any interest thereon received from such Tax Authority less any Taxes payable by reason of the receipt of such Refund and interest)
attributable to such carryback, if such Refund is allocable to the Comverse Group under the principles of Section 4.01, within thirty (30) business days after such Refund (or other Tax benefit) is received. 

(ii) Subject to Section 4.02(c) and (d), in the event that any member of the CTI Group realizes any loss, credit or other Tax
Attribute in any Post-Distribution Taxable Period, such member may elect to carry back such loss, credit or Tax Attribute to a Pre-Distribution Taxable Period or the portion of a Straddle Period ending on the Distribution Date. Comverse shall
cooperate with CTI and such member in seeking from the appropriate Tax Authority any Refund that reasonably would result from such carryback (including by filing an amended Tax Return) at CTI’s cost and expense. CTI shall be entitled to any
Refund (or other Tax benefit) received by the Comverse Group (including any interest thereon received from such Tax Authority less any Taxes payable by reason of the receipt of such Refund and interest) attributable to such carryback, if such Refund
is allocable to the CTI Group under the principles of Section 4.01, within thirty (30) business days after such Refund (or other Tax benefit) is received. 
 (c) Except as otherwise provided by applicable law, if the CTI Group and the Comverse Group both may carry back a loss, credit or other Tax Attribute to the same Pre-Distribution Taxable Period or the
portion of a Straddle Period ending on the Distribution Date, any Refund (or other Tax benefit) resulting therefrom shall be allocated between CTI and Comverse proportionately based on the relative amounts of the Refunds (or other Tax benefits) to
which the CTI Group and the Comverse Group, respectively, would have been entitled had its carryback been the only carryback to such taxable period. 
 (d) To the extent that the amount of a Refund to which a Party is entitled under this Section 4.02 is reduced by the applicable Tax Authority as a result of the offset of such amount against a Tax of
the other Party, as allocated under this Agreement, the Party which receives the benefit of such offset shall appropriately compensate the other Party within thirty (30) days of receipt or actual utilization of such benefit.

ARTICLE V 

INDEMNIFICATION 

Section 5.01. Indemnification by CTI. CTI shall pay, and shall indemnify and hold the Comverse Indemnitees harmless
from and against, without duplication, (i) all Taxes allocable to CTI under Article II, (ii) all Taxes incurred by the Comverse Group by reason of the breach by CTI of any of its covenants hereunder, and (iii) any costs and expenses
related to this Section 5.02 (including, without limitation, reasonable attorneys’ fees and expenses). 

  
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 Section 5.02. Indemnification by Comverse. Comverse shall pay, and shall
indemnify and hold the CTI Indemnitees harmless from and against, without duplication, (i) all Taxes allocable to Comverse under Article II, (ii) all Taxes incurred by the CTI Pre-Distribution Group or CTI Group by reason of the breach by
Comverse of any of its covenants hereunder, and (iii) any costs and expenses related to this Section 5.02 (including, without limitation, reasonable attorneys’ fees and expenses). For the avoidance of doubt, notwithstanding anything
to the contrary (including Section 2.04), the indemnity obligations of Comverse pursuant to this Section 5.02 shall include indemnifying CTI for Taxes payable by CTI (which, for the avoidance of doubt, shall include any Taxes offset by the
use of a Verint Tax Attribute) in any Post-Distribution Taxable Period (or any portion thereof) of CTI, as a result of any: (1) change in method of accounting for a taxable period (or portion thereof) ending on or before the Distribution Date,
including under Section 481(a) of the Code or any comparable or similar provision of state, local, or foreign law; (2) installment sale or other open transaction entered into on or prior to the Distribution Date; (3) prepaid amount
received on or prior to the Distribution Date; (4) closing agreement described in Section 7121 of the Code or any comparable or similar provision of state, local or foreign law executed on or prior to the Distribution Date; or
(5) indebtedness discharged in connection with any election under Section 108(i) of the Code made on or prior to the Distribution Date. Notwithstanding anything to the contrary in this Agreement, this Section 5.02 shall not require
Comverse to indemnify any CTI Indemnitees for the use of, or any reduction in, any Tax Attributes of the CTI Pre-Distribution Group, CTI Group or the Comverse Group. 
 Section 5.03. Audits. 
 (a) If an Indemnified Party becomes
aware of the commencement of a Tax Proceeding that may give rise to Taxes for which an Indemnifying Party is responsible pursuant to Article II or V, such Indemnified Party shall promptly (and in any event by the Outside Notice Date) notify the
Indemnifying Party of such Tax Proceeding, and thereafter shall promptly (and in any event within 10 business days) forward or make available to the Indemnifying Party copies of notices and communications relating to such Tax Proceeding. The failure
of the Indemnified Party to notify the Indemnifying Party of the commencement of any such Tax Proceeding or promptly forward any further notices or communications shall not relieve the Indemnifying Party of any obligation which it may have to the
Indemnified Party under this Agreement except to the extent that the Indemnifying Party is actually prejudiced by such failure (except that the Indemnifying Party shall not be liable for any expenses incurred during the period beginning immediately
after the Outside Notice Date and ending on the date the Indemnified Party gives the required notice). For the avoidance of doubt, knowledge of the commencement of a Tax Proceeding by a Person who is an officer or director of both CTI and Comverse
shall not constitute notice for purposes of this Section 5.03. 
 (b) Any extension of the Statute of Limitations for any
Taxes or a Tax Return prepared in accordance with Section 3.01 for any Pre-Distribution Taxable Period or a Straddle Period shall be made by the Party required to file such Tax Return or pay such Taxes to a Taxing Authority; provided
that to the extent such Taxes or Tax Return may result in an indemnity payment pursuant to this Agreement by the Party other than the filing Party, the Indemnifying Party may, in its reasonable discretion, require that the filing Party extend the
applicable Statute of Limitations for such period as determined by the Indemnifying Party. 

  
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 (c) The Indemnifying Party shall be entitled to participate in the defense of a Tax
Proceeding and, if it so chooses and acknowledges in writing its obligation to indemnify the Indemnified Party, the Indemnifying Party may assume the defense thereof with counsel selected by the Indemnifying Party; provided, however,
that such counsel is not reasonably objected to by the Indemnified Party. Should the Indemnifying Party so elect to assume the defense of a Tax Proceeding, the Indemnifying Party shall, within 30 days (or sooner if the nature of the Tax
Proceeding so requires), notify the Indemnified Party of its intent to do so, and the Indemnifying Party shall thereafter not be liable to the Indemnified Party for legal or other expenses subsequently incurred by the Indemnified Party in connection
with the defense thereof; provided, however, that such Indemnified Party shall have the right to employ counsel to represent such Indemnified Party if, in such Indemnified Party’s reasonable judgment, a conflict of interest
between such Indemnified Party and such Indemnifying Party exists in respect of such claim which would make representation of both such parties by one counsel inappropriate, and in such event the fees and expenses of such separate counsel shall be
paid by such Indemnifying Party. If the Indemnifying Party assumes such defense, the Indemnified Party shall have the right to participate in the defense thereof and to employ counsel, subject to the proviso of the preceding sentence, at its own
expense, separate from the counsel employed by the Indemnifying Party, it being understood that the Indemnifying Party shall control such defense. The Indemnifying Party shall be liable for the fees and expenses of counsel employed by the
Indemnified Party for any period during which the Indemnifying Party has failed to assume the defense thereof (other than during the period prior to the time the Indemnified Party shall have given notice of the Tax Proceeding as provided above). If
the Indemnifying Party so elects to assume the defense of any Tax Proceeding, all of the Indemnified Parties shall cooperate with the Indemnifying Party in the defense or prosecution thereof, including by providing or causing to be provided records
and witnesses as soon as reasonably practicable after receiving any request from or on behalf of the Indemnifying Party. 
 (d)
If the Indemnifying Party acknowledges in writing responsibility under this Section 5.03 for a Tax Proceeding, then in no event will the Indemnified Party admit any liability with respect to, or settle, compromise or discharge, any Tax
Proceeding without the Indemnifying Party’s prior written consent; provided, however, that the Indemnified Party shall have the right to settle, compromise or discharge such Tax Proceeding without the consent of the Indemnifying
Party if the Indemnified Party releases the Indemnifying Party from its indemnification obligation hereunder with respect to such Tax Proceeding and such settlement, compromise or discharge would not otherwise adversely affect the Indemnifying
Party. If the Indemnifying Party acknowledges in writing liability for a Tax Proceeding, the Indemnified Party will agree to any settlement, compromise or discharge of a Tax Proceeding that the Indemnifying Party may recommend and that by its terms
obligates the Indemnifying Party to pay the full amount of the liability in connection with such Tax Proceeding and releases the Indemnified Party completely in connection with such Tax Proceeding and that would not otherwise adversely affect the
Indemnified Party. If an Indemnifying Party elects not to assume the defense of a Tax Proceeding, or fails to notify an Indemnified Party of its election to do so as provided herein, such Indemnified Party may compromise, settle or defend such Tax
Proceeding. 

  
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 (e) Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to assume
the defense of any Tax Proceeding (and shall be liable for the fees and expenses of counsel incurred by the Indemnified Party in defending such Tax Proceeding) if the Tax Proceeding seeks an order, injunction or other equitable relief or relief for
other than money damages against the Indemnified Party which the Indemnified Party reasonably determines, after conferring with its counsel, cannot be separated from any related claim for money damages. If such equitable relief or other relief
portion of the Tax Proceeding can be so separated from that for money damages, the Indemnifying Party shall be entitled to assume the defense of the portion relating to money damages. 

(f) If a Tax Proceeding involves a Tax adjustment that may reasonably be expected to result solely in the reduction or loss of a Tax
Attribute that was allocated under Section 2.02, and: (i) such Tax Attribute is allocable solely to CTI under Section 2.02, CTI shall have the right to control all proceedings and make all decisions in connection with the defense and
settlement of such Tax adjustment (including selection of counsel) at its own expense, and Comverse shall have the right to participate in such proceeding, but not control such Tax Proceeding or make decisions in connection with the defense and
settlement of such proceeding, at its sole expense; (ii) such Tax Attribute is allocable solely to Comverse under Section 2.02, Comverse shall have the right to control all proceedings and make all decisions in connection with the defense
and settlement of such Tax adjustment (including selection of counsel) at its own expense, and CTI shall have the right to participate in such proceeding, but not control such proceeding or make decisions in connection with the defense and
settlement of such proceeding, at its sole expense; (iii) such Tax Attribute was allocated under Section 2.02 to both CTI and Comverse, the Parties shall cooperate in the defense of such Tax Proceeding and mutually agree to any settlement
of such Tax adjustment (each at its own expense). Notwithstanding anything to the contrary in this Agreement, neither Party shall settle any Tax Proceeding involving a Tax Attribute allocated under Section 2.02 of the other Party, without such
other Party’s prior written consent (which shall not be unreasonably withheld, conditioned or delayed), if the resolution of such Tax Proceeding adversely affects such Tax Attribute of such other Party. 

Section 5.04. Payment. If an Indemnifying Party is required to indemnify an Indemnified Party pursuant to this Article
V, the Indemnified Party shall submit its calculations of the amount required to be paid pursuant to this Article V, in sufficient detail. Subject to the following sentence, the Indemnifying Party shall pay to the Indemnified Party, no later than
ten (10) business days after the Indemnifying Party receives the Indemnified Party’s calculations, the amount that the Indemnifying Party is required to pay the Indemnified Party under this Article V. If the Indemnifying Party disagrees
with such calculations, it must notify the Indemnified Party of its disagreement in writing within ten (10) business days of receiving such calculations. Any dispute regarding such calculations shall be resolved in accordance with the dispute
resolution mechanism of Section 3.01(a) of this Agreement. 
 Section 5.05. Time Limits. Any claim under
this Article V with respect to a Tax must be made no later than sixty (60) days after the expiration of the applicable Statute of Limitations for assessment of such Tax. 

  
 13 

 ARTICLE VI 
 MISCELLANEOUS 
 Section 6.01. Termination of Prior Tax Sharing
Agreements. This Agreement shall take effect on the Distribution Date and shall replace all tax sharing and other similar agreements, whether or not written, in respect of any Taxes between or among the CTI Group on the one hand and the Comverse
Group on the other. All such replaced agreements shall be canceled as of the Distribution to the extent they relate to the Comverse Group, and any rights or obligations of the CTI Group or the Comverse Group existing thereunder thereby shall be
fully and finally settled without any payment by any Party thereto. 
 Section 6.02. Merger or Consolidation.
Neither CTI nor Comverse (in either case, the “Transaction Party”) shall (i) consolidate with or merge into any Person or permit any Person to consolidate with or merge into the Transaction Party (other than a merger or
consolidation in which the Transaction Party is the surviving or continuing corporation) or (ii) sell, assign, transfer, lease or otherwise dispose of, in one transaction or a series of related transactions, all or substantially all of the
assets of the Transaction Party, unless the resulting, surviving or transferee Person shall expressly assume, by instrument in form and substance reasonably satisfactory to the other Party, all of the obligations of the Transaction Party under this
Agreement. 
 Section 6.03. Subsidiaries. Each of the Parties hereto shall cause to be performed, and hereby
guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary (as defined in the Distribution Agreement) of such Party or by any entity that is contemplated to be a Subsidiary of such Party
on or after the Distribution Date. 
 Section 6.04. Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of New York, without reference to choice of law principles, including matters of construction, validity and performance. 
 Section 6.05. Amendment. This Agreement may be amended, modified or supplemented only by a written Agreement signed by all of the Parties hereto. 

Section 6.06. Notices. Notices, requests, permissions, waivers, referrals and all other communications hereunder shall
be in writing and shall be deemed to have been duly given if signed by the respective Persons giving them (in the case of any corporation, the signature shall be by an officer thereof) and delivered by hand or by telecopy or on the date of receipt
indicated on the return receipt if mailed (registered or certified, return receipt requested, properly addressed and postage prepaid): 
 If to CTI, to: 
 Comverse Technology, Inc. 

810 Seventh Avenue 
 New York, NY 10019 
 Attention: General Counsel 

If to Comverse, to: 
 Comverse, Inc. 
 200 Quannapowitt Parkway 

Wakefield, MA 01880 
 Attention: General Counsel 

  
 14 

 Such names and addresses may be changed by notice given in accordance with this
Section 6.06 
 Section 6.07. Entire Agreement. This Agreement contains the entire understanding of the
Parties hereto with respect to the subject matter contained herein, and supersedes and cancels all prior agreements, negotiations, correspondence, undertakings and communications of the Parties, oral or written, respecting such subject matter.

 Section 6.08. Headings; References. The article. section and paragraph headings contained in this
Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. All references herein to “Articles” or “Sections” shall be deemed to be references to Articles or Sections
hereof unless otherwise indicated. 
 Section 6.09. Counterparts. This Agreement may be executed in one or
more counterparts and each counterpart shall be deemed to be an original, but all of which shall constitute one and the same original. 
 Section 6.10. Parties in Interest; Assignment; Successor. Neither this Agreement nor any of the rights, interest or obligations hereunder shall be assigned by any of the Parties hereto
without the prior written consent of the other Party. Notwithstanding the preceding sentence, this Agreement shall inure to the benefit of and be binding upon CTI and Comverse and their respective successors. Nothing in this Agreement, express or
implied, is intended to confer upon any other Person any rights or remedies under or by reason of this Agreement. 

Section 6.11. Waiver of Jury Trial. The Parties hereby irrevocably waive any and all right to trial by jury in any
legal proceeding arising out of or related to this Agreement. 
 Section 6.12. Severability; Enforcement. The
invalidity of any portion hereof shall not affect the validity, force or effect of the remaining portions hereof. If it is ever held that any restriction hereunder is too broad to permit enforcement of such restriction to its fullest extent, each
Party agrees that a court of competent jurisdiction may enforce such restriction to the maximum extent permitted by law, and each Party hereby consents and agrees that such scope may be judicially modified accordingly in any proceeding brought to
enforce such restriction. 
 Section 6.13. Creation of CTI Subsidiary. At the request of Verint (and provided
such request is made with at least 20 days notice), the Parties agree that CTI shall, on or before January 24, 2013, form a wholly-owned incorporated Subsidiary under Delaware law (“Newco”), and CTI shall contemporaneously transfer to
Newco as much of its Retained Assets (as such term is defined in the Merger Agreement) as is available. 

  
 15 

 Section 6.14. Effective Date. This Agreement shall become effective only
upon the occurrence of the Distribution. 

  
 16 

 IN WITNESS WHEREOF, each of the Parties has caused this Tax Disaffiliation Agreement to be
executed on its behalf by its officers thereunto duly authorized, all as of the day and year first written above. 
  

			
	COMVERSE TECHNOLOGY, INC.
		
	By:	 	/s/ Shefali Shah
		 	 Name: Shefali Shah

Title: Senior Vice President,
 General Counsel
and
 Corporate Secretary

  

			
	COMVERSE, INC.
		
	By:	 	/s/ Thomas B. Sabol
		 	 Name: Thomas B. Sabol

Title: Chief Financial Officer

 [Signature Page to Tax Disaffiliation Agreement] 

  
 17 

 Schedule 3.01 

Comverse, Inc. 
 Certification for Tax Filing 
 For the Tax Year ended January 31,
2013 
 The undersigned officer of Comverse, Inc. (“Comverse”) hereby certifies to each of Victory Acquisition I
LLC (as successor to Comverse Technology, Inc. (“CTI”)) and Verint Systems Inc., with respect to the Tax Filing (as defined below), as follows: 
  

	 	1.	I have supervised and coordinated the preparation, internal review and approval, of the U.S. federal income tax return for the tax year ending January 31, 2013,
and the New York State and New York City income tax returns for the tax year ending January 31, 2013, each of these three tax returns in its final form, together with all accompanying attachments, elections, statements and schedules
(collectively, the “Tax Filing”). 

  

	 	2.	To my knowledge and belief, the Tax Filing reflects the information of CTI and its consolidated subsidiaries in all material respects. 

 

	 	3.	To my knowledge and belief, the Tax Filing is true, correct and complete and complies with all applicable laws, in each case, in all material respects, subject to those
positions in the Tax Filings for which there is a reasonable basis, and for which there is adequate disclosure as required by applicable law. 

  

	 	4.	I have maintained and retained an audit trail (work papers) containing evidential matter and formal documentation relating to the work performed in the preparation of
the Tax Filing. 

  

	 	5.	I confirm that the tax positions reflected in the Tax Filing have been documented and reviewed in formal memos, spreadsheets and working papers.

  

	 	6.	I have provided the auditors – internal and external – and the accounting firm that is reviewing the Tax Filing, open and honest answers to all questions and
provided complete and accurate documentation in response to such requests. 

  

	 	7.	I am not aware of any information that should have been reviewed for potential errors that was intentionally or unintentionally excluded from review or that was not
reviewed. 

  

	 	8.	I have made reasonable inquiries of those persons, and reviewed all appropriate information, necessary to the preparation of the Tax Filings. 

 

	 	9.	All employees, consultants or other persons that were involved in the preparation, review and/or approval of the Tax Filing have adequate expertise to complete the
tasks they were assigned and I have reviewed their work product and found it to be adequate for the purposes for which it was intended. 

  

	 	10.	I am aware of no fraud, whether or not material, that involves management or other employees who had a significant role in the preparation of the Tax Filing.

 I understand that each of Victory Acquisition I LLC and Verint Systems Inc. will rely on this certification,
among other things, in signing the Tax Filing and attesting that it is true, correct and complete. 

  
 18 

 If I at any time become aware of any information which may make any of my responses
inaccurate or incorrect in any material respect, I will immediately advise [            ] of Verint Systems Inc., who can be reached at
(                    ). 
 Please
enter your name, title, and date below and sign. 
  

							
	Signature:	  	 	  		  	
	Name:	  	 	  		  	
	Title:	  	 	  		  	
	Date:	  	 	  		  	

 [TO BE SIGNED BY A SENIOR EXECUTIVE OFFICER (SUCH AS CHIEF ACCOUNTING OFFICER, ETC.)] 

  
 19Employee Matters Agreement

 Exhibit 10.4 
 EMPLOYEE MATTERS AGREEMENT 
 This Employee Matters Agreement (this
“Agreement”), dated as of October 31, 2012, with effect as of the Effective Time by and between Comverse Technology, Inc., a New York corporation (“CTI”), and Comverse, Inc., a Delaware corporation
(“Comverse,” and together with CTI, the “Parties”). 
 WHEREAS, contemporaneously herewith,
CTI and Comverse are entering into a Distribution Agreement pursuant to which the Parties have set out the terms on which, and the conditions subject to which, they wish to implement the Distribution (as defined in the Distribution Agreement) (such
agreement, as amended, restated or modified from time to time, the “Distribution Agreement”); and 
 WHEREAS,
in connection therewith, CTI and Comverse have agreed to enter into this Agreement to allocate between them assets, liabilities and responsibilities with respect to certain employee compensation, pension and benefit plans, programs and arrangements
and certain employment matters. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, covenants and
other provisions set forth in this Agreement, the Parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Section 1 Definitions. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Distribution Agreement and the following terms shall have the
following meanings: 
 “Assumed Health and Welfare Plans” shall have the meaning set forth in Section 5.2.

 “Benefit Plan” shall mean with respect to an entity, (a) each “employee welfare benefit plan”
(as defined in Section 3(1) of ERISA) and all other employee benefits arrangements, policies or payroll practices (including, without limitation, severance pay, sick leave, vacation pay, salary continuation, disability, retirement, deferred
compensation, bonus, stock option or other equity-based compensation, hospitalization, medical insurance or life insurance) sponsored or maintained by such entity or by any of its Subsidiaries (or to which such entity or any of its Subsidiaries
contributes or is required to contribute) and (b) all “employee pension benefit plans” (as defined in Section 3(2) of ERISA), occupational pension plan or arrangement or other pension arrangements sponsored, maintained or
contributed to by such entity or any of its Subsidiaries (or to which such entity or any of its Subsidiaries contributes or is required to contribute). When immediately preceded by “CTI,” Benefit Plan means any Benefit Plan sponsored
solely by CTI. When immediately preceded by “Comverse,” Benefit Plan means any Benefit Plan sponsored solely by Comverse. 

 “Black-Scholes Value” shall mean the value of an Option determined in
accordance with a pricing model that includes the stock price of the underlying shares of common stock, the exercise price of the CTI Option or Comverse Option, as applicable, and the expected standard deviation of the return of the underlying
common stock, with such volatility parameters based on assumptions that are determined by the board of directors of CTI, in its sole discretion. 
 “Cash Incentive Plans” shall mean any of the annual or short term cash incentive plans of CTI or Comverse, all as in effect as of the time relevant to the applicable provisions of this
Agreement, including, without limitation, the Comverse Technology, Inc. Restatement Bonus Plan, the 2012 GET Executive Bonus Plan, the Spin-Off Plan and the 2012 Comverse Incentive Compensation Plan. 

“Comverse Conversion Ratio” shall mean the quotient obtained by dividing (A) the published closing trading price of
a share of Comverse common stock listed on the NASDAQ Stock Exchange on the Distribution Date by (B) the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange traded “regular way” on the
day prior to the Distribution Date. 
 “Comverse Employee” shall mean each individual employed by Comverse
immediately before the Effective Time. 
 “Comverse Executive Severance Protection Plan” shall have the meaning
set forth in Section 2.4. 
 “CTI 401(k) Plan” shall mean the Comverse Technology, Inc. 401(k) Retirement
Savings Plan. 
 “CTI Conversion Ratio” shall mean the quotient obtained by dividing (A) the published
closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange on the Distribution Date by (B) the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange traded “regular
way” on the day prior to the Distribution Date. 
 “CTI Employee” shall mean each individual employed by
CTI immediately before the Effective Time. 
 “CTI Executive Severance Protection Plan” shall mean the Comverse
Technology, Inc. Executive Severance Protection Plan, dated as of November 11, 2008. 
 “CTI Severance
Plans” shall mean the CTI Executive Severance Protection Plan and any other severance plans, policies or programs of CTI. 
 “CTI Stock Incentive Plans” shall mean each of CTI’s stock incentive compensation plans, including, without limitation, the Boston Technology, Inc. 1996 Stock Incentive Plan, the
Comverse Technology, Inc. 2011 Stock Incentive Compensation Plan, the Comverse Technology, Inc. 2005 Stock Incentive Compensation Plan, the Comverse Technology, Inc. 2004 Stock 

  
 2 

 
Incentive Compensation Plan, the Comverse Technology, Inc. 2001 Stock Incentive Compensation Plan, the Comverse Technology, Inc. 2000 Stock Incentive Compensation Plan, the Comverse Technology,
Inc. 1999 Stock Incentive Compensation Plan, and the Comverse Technology, Inc. 1996 Stock Incentive Compensation Plan. 

“COBRA” shall mean the continuation coverage requirements for group health plans under the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended, and as codified in Code section 4980B and ERISA sections 601 though 608. 

“Code” shall mean the Internal Revenue Code of 1986, as amended, or successor federal income tax law. Reference to a
specific Code provision also includes any proposed, temporary or final regulation in force under that provision. 

“Distribution Date” shall have the meaning assigned to such term in the Distribution Agreement; provided that for
purposes of this Agreement, if the Effective Time occurs after the close of trading of CTI common stock on a particular trading date, the Distribution Date shall be deemed to be the next such trading date. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. Reference to a specific provision of
ERISA also includes any proposed, temporary or final regulation in force under that provision. 
 “Health and Welfare
Plans” shall mean any plan, fund or program which was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, medical (including, without
limitation, PPO, EPO and HDHP coverages), dental, prescription, vision, short-term disability, long-term disability, life and AD&D, employee assistance, group legal services, wellness, cafeteria (including, without limitation, premium payment,
health flexible spending account and dependent care flexible spending account components), travel reimbursement, transportation, or other benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits,
apprenticeship or other training programs or day care centers, scholarship funds, or prepaid legal services, including, without limitation, any such plan, fund or program as defined in Section 3(1) of ERISA. 

“Liability” or “Liabilities” shall have the meaning set forth in the Distribution Agreement.

 “Offer Employees” shall have the meaning set forth in Section 2.1. 

“Option” when immediately preceded by “CTI” shall mean an Option to purchase shares of CTI common stock
pursuant to a CTI Stock Incentive Plan. When immediately preceded by “Comverse,” an Option shall mean an Option to purchase shares of Comverse common stock following the Effective Time pursuant to the Comverse Stock Incentive Plan.

 “Person” shall have the meaning set forth in the Distribution Agreement. 

“Remaining CTI Employees” shall have the meaning set forth in Section 2.1. 

  
 3 

 “Spin-Off Plan” shall mean the Comverse Technology, Inc. Spin-Off
Compensation Plan. 
 “Stock Units” (a) when immediately preceded by “CTI,” means a restricted
stock unit or deferred stock unit issued under a CTI Stock Incentive Plan representing a general unsecured promise by CTI to pay the value of shares of CTI common stock in cash or shares of CTI common stock and, (b) when immediately preceded by
“Comverse,” means a restricted stock unit issued pursuant to this Agreement representing a general unsecured promise by Comverse to pay the value of shares of Comverse common stock in cash or shares of Comverse common stock. 

“Transferred Employees” shall have the meaning set forth in Section 2.1. 

“Transition Period” shall mean the period of time from and after the Effective Time until the earlier of (i) the
date the separate existence of CTI shall cease or that CTI is acquired by reason of a merger, dissolution or otherwise and (ii) such other date, as determined by the board of directors of Comverse. 

“Transition Services Agreement” shall mean the Transition Services Agreement by and between Comverse Technology, Inc.
and Comverse, Inc., dated as of _______, 2012. 
 “Verint” shall mean Verint Systems Inc., a Delaware
Corporation. 
 ARTICLE II 
 EMPLOYMENT MATTERS 
 Section 2.1 Employment of CTI Employees.
Not later than twenty (20) Business Days prior to the Effective Time, Comverse shall extend written offers of employment to certain CTI Employees (the “Offer Employees”) on terms and conditions substantially similar to those in
effect with respect to the Offer Employee as in effect as of immediately before the Effective Time. Each Offer Employee who accepts the Comverse offer of employment shall commence employment with Comverse as of the Effective Time (the
“Transferred Employees”). CTI Employees who are not Transferred Employees shall continue to be employees of CTI immediately after the Effective Time (the “Remaining CTI Employees”). 

Section 2.2 Paid Time Off. Comverse shall honor all accrued but untaken or unpaid vacation credited to Transferred Employees
under the paid time off plans of CTI as of the Effective Time. 
 Section 2.3. CTI Employment Agreements. As of the
Effective Time, any employment agreement, offer letter or other similar agreement or arrangement between CTI and any employee (other than a Remaining CTI Employee) shall be hereby assigned by CTI to Comverse, and Comverse will hereby assume such
agreement and all Liabilities under such agreement, subject to obtaining any necessary consents. The Parties shall use reasonable efforts to obtain any necessary consents from Transferred Employees to effectuate such assignment and assumption.

  
 4 

 Section 2.4 Severance Plans. Neither a Comverse Employee nor a CTI Employee
shall be deemed to have terminated employment for purposes of determining eligibility for severance benefits in connection with or in anticipation of the consummation of the transactions contemplated by the Distribution Agreement. Other than as set
forth in the penultimate sentence of this Section 2.4, CTI shall be solely responsible for all Liabilities in respect of all costs arising out of payments and benefits relating to the termination of any Remaining CTI Employee’s employment
that occurs following the Effective Time, including any amounts required to be paid (including any payroll or other taxes), and the costs of providing benefits, under the CTI Severance Plans. As of the Effective Time, Comverse Employees and
Transferred Employees will cease to participate in the CTI Executive Severance Protection Plan. In connection with the Distribution, Comverse shall establish a severance plan for the benefit of certain Comverse Employees and Transferred Employees
that is substantially similar in all material respects to the CTI Executive Severance Protection Plan (the “Comverse Executive Severance Protection Plan”). Comverse shall be solely responsible for all Liabilities in respect of all
costs arising out of payments and benefits relating to the termination of any Comverse Employee’s or any Transferred Employee’s employment that occurs following the Effective Time, including, without limitation, any amounts required to be
paid (including, without limitation, payroll or other taxes), and the costs of providing benefits, under the Comverse Executive Severance Protection Plan. In addition, Comverse shall be solely responsible for all amounts required to be paid and the
costs of providing benefits to employees of CTI whose employment is terminated in connection with, or in anticipation of, the Distribution. In addition, the Parties hereby agree that if any payments to be made by either Comverse or CTI to any
employee or former employee of Comverse or CTI is conditioned on a release of claims and if such payment is under an arrangement in effect prior to the Effective Time or in respect of the period prior to the Effective Time, then as a condition to
the payment to the applicable employee, Comverse and CTI will include Verint, its Subsidiaries and their respective officers, directors and employees as one of the parties required to be released. 

Section 2.5 Workers’ Compensation Liabilities. All workers’ compensation Liabilities relating to, arising out of,
or resulting from any claim by a Comverse Employee, Transferred Employee or Remaining CTI Employee that results from an accident occurring, or from an occupational disease which becomes manifest, before, on or after the Effective Time shall be
retained by Comverse, other than Liabilities in respect of Remaining CTI Employees that result from an accident occurring, or from an occupational disease which becomes manifest, after the Transition Period. 

Section 2.6 Payroll Taxes and Reporting of Compensation. Comverse shall bear responsibility for payroll administration
obligations and for the proper reporting to the appropriate governmental authorities of compensation earned by (i) Comverse Employees and Transferred Employees after the Effective Time and (ii) Remaining CTI Employees during the Transition
Period. 

  
 5 

 ARTICLE III 
 BENEFIT PLANS GENERALLY 
 Section 3.1 Assumption of Benefit Plan
Liabilities In General. Except as otherwise specifically provided in this Agreement and the Distribution Agreement, as of the Effective Time, (i) with respect to any Liability or obligation to, or in respect of, the Comverse Employees and
the Transferred Employees, whether arising out of actions, events or omissions that occurred (or, in the case of omissions, failed to occur) prior to, at, or following, the Effective Time, Comverse shall assume and be solely responsible for all such
Liabilities and obligations whatsoever with respect to the Comverse Employees and the Transferred Employees to the extent such Liabilities and obligations arise or arose under any Benefit Plan, and (ii) with respect to any Liability or
obligation to, or in respect of, the Remaining CTI Employees whether arising out of actions, events or omissions that occurred (or, in the case of omissions, failed to occur) prior to, at, or following, the Effective Time, CTI shall assume and be
solely responsible for all such Liabilities and obligations whatsoever with respect to the Remaining CTI Employees to the extent such Liabilities and obligations arise or arose under any Benefit Plan. The Parties agree that none of the transactions
contemplated by the Distribution Agreement or this Agreement, constitutes a “change in control,” “change of control” or similar term, as applicable, within the meaning of any applicable Benefit Plan. 

ARTICLE IV 

401(K) PLAN 
 Section 4.1 401(k) Plan. As of the Effective Time, (i) Comverse shall hereby assume and CTI shall hereby transfer sponsorship of the CTI 401(k) Plan and Comverse shall assume all assets
and Liabilities thereunder; (ii) Comverse shall become the “Employer” for purposes of the CTI 401(k) Plan and CTI shall cease to be a participating employer in the CTI 401(k) Plan; and (iii) Remaining CTI Employees shall cease to
be eligible to make contributions or have contributions made on their behalf under the CTI 401(k) Plan. With respect to the Remaining CTI Employees, in lieu of a year-end matching contribution in respect of the 2012 calendar year, CTI shall make a
lump sum cash payment to the Remaining CTI Employees who remain employed with CTI through December 31, 2012, to be made on or prior to March 15, 2013. The amount of such payments will be determined by CTI in its discretion, and will be
intended to approximate the amount of the matching contribution that would otherwise be made to each such CTI Employee for the 2012 calendar year under the CTI 401(k) Plan, without taking into account any tax or deferral benefits. 

  
 6 

 ARTICLE V 
 HEALTH AND WELFARE PLANS 
 Section 5.1 Comverse Health and Welfare
Plans. Following the Effective Time, Comverse shall retain, and CTI shall have no obligation whatsoever with regard to, all Liabilities under, or with respect to the Comverse Health and Welfare Plans. 

Section 5.2 Assumption of CTI Health and Welfare Plans. Effective as of the Effective Time, Comverse shall hereby assume
sponsorship of all CTI Health and Welfare Plans, any trust or other funding arrangement established or maintained with respect to such plans or any assets held as of the Effective Time with respect to such plans, and any Liabilities relating to, or
arising out of, or resulting from health and welfare coverage or claims incurred on behalf of Comverse Employees, Transferred Employees or Remaining CTI Employees or their covered dependents under the CTI Health and Welfare Plans prior to, on or
after the Effective Time (together with the Comverse Health and Welfare Plans, the “Assumed Health and Welfare Plans”). In addition, to the extent permitted by applicable Law, during the Transition Period, Remaining CTI Employees
shall continue to participate in the Assumed Health and Welfare Plans. Comverse shall provide to CTI an invoice and CTI shall pay Comverse in accordance with Section 3 of the Transition Services Agreement, for the costs associated with (i)
providing coverage to the Remaining CTI Employees and their covered dependents under the Assumed Health and Welfare Plans during the Transition Period and (ii) the assumption by Comverse of any Liabilities relating to Remaining CTI Employees or
their covered dependents under the Assumed Health and Welfare Plans for periods prior to the Effective Time. Such invoice shall allocate the direct costs of providing such coverage and assuming such Liabilities, based on the Remaining CTI
Employees’ claims experience, in accordance with past practice. 
 Section 5.3 COBRA and HIPAA Compliance.
Comverse shall be responsible for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of the Health Insurance Portability and Accountability Act of 1996, and the
corresponding provisions of the Assumed Health and Welfare Plans with respect to Comverse Employees, Transferred Employees and Remaining CTI Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the
Health and Welfare Plans at any time before, on or after the Effective Time. 
 Section 5.4 Vendor Contracts. The
Parties shall use commercially reasonable efforts to obligate the third-party administrator of each administrative-services-only contract with a third-party administrator that relates to any of the Assumed Health and Welfare Plans (an “ASO
Contract”), each group insurance policy that relates to any of the Assumed Health and Welfare Plans (“Group Insurance Policies”) and each agreement with a Health Maintenance Organization that provides medical services under
the Assumed Health and 

  
 7 

 
Welfare Plans (“HMO Agreements”), in each case, in existence as of the date of this Agreement that is applicable to Remaining CTI Employees, to enter into a separate ASO
Contract, Group Insurance Policy and HMO Agreement, as applicable, with CTI providing for similar terms and conditions as are contained in the ASO Contracts, Group Insurance Policies and HMO Agreements, as applicable, to which Comverse is a party.
Such terms and conditions shall include, without limitation, the financial and termination provisions, performance standards, methodology, auditing policies, quality measures and reporting requirements. 

ARTICLE VI 

CASH INCENTIVE PLANS 
 Section 6.1 Determination of Bonus Awards. Comverse shall be responsible for determining all bonus awards that would otherwise have been payable under the Cash Incentive Plans to Comverse
Employees and Transferred Employees for the year in which the Effective Time occurs. Comverse shall also determine for Comverse Employees and Transferred Employees (i) the extent to which established performance criteria (as interpreted by
Comverse, in its sole discretion) have been met, and (ii) the payment level for each Comverse Employee and Transferred Employee. Comverse shall provide information to CTI with respect to the attainment of applicable performance criteria on a
timely basis. Based on such information provided by Comverse, CTI shall make all determinations with respect to bonus awards payable under the Cash Incentive Plans for Remaining CTI Employees. 

Section 6.2 Liability for Bonus Awards. Comverse shall assume all Liabilities with respect to any such bonus awards payable
to Comverse Employees and Transferred Employees for the year in which the Effective Time occurs and thereafter. CTI shall retain all Liabilities with respect to any bonus awards payable under the Cash Incentive Plans to Remaining CTI Employees for
the year in which the Effective Time occurs and thereafter. 
 ARTICLE VII 

STOCK INCENTIVE PLANS 
 Section 7.1 CTI Stock Incentive Plans. The Parties shall take all actions necessary or appropriate so that each outstanding CTI Option and CTI Stock Unit granted under any CTI Stock Incentive
Plan held by an individual shall be adjusted as set forth in this Article VII. The adjustments set forth below shall be the sole adjustments with respect to CTI Options and CTI Stock Units in connection with the Distribution and the other
transactions contemplated by the Distribution Agreement, and such adjustments will be consistent with the provisions of Section 409A of the Code and the applicable stock exchange listing standards. The Distribution shall not constitute a
“change in control” or “change of control” under any award agreement, employment agreement or CTI Stock Incentive Plan. As soon as practicable following the Effective Time, Comverse shall issue or amend award agreements with
respect to (i) Comverse Options and Comverse Stock Units for Comverse Employees and Transferred Employees and (ii) CTI Options and CTI Stock Units for Remaining CTI Employees, reflecting the terms and conditions of such awards in
accordance with this Article VII. 

  
 8 

 Section 7.2 CTI Options. CTI Options will be adjusted as described below, based
on (1) the optionholder’s employer following the Distribution and (2) whether such CTI Options have an exercise price that is (A) equal to or less than the published closing price of a share of CTI common stock on the NASDAQ
Stock Exchange on the date prior to the Distribution Date (“In-The-Money Options”), (B) not an In-The-Money Option, but is equal to or less than $10.52 per share (“Group A CTI Options”) or (C) greater than
$10.52 per share (the “Group B CTI Options”). As of the Effective Time, (1) CTI Options held by Comverse Employees or Transferred Employees will be converted into Comverse Options and (2) CTI Options held by Remaining CTI
Employees will remain as CTI Options. 
 (a) Comverse Employees and Transferred Employees. 

(i) In-The-Money Options. The exercise price of the In-The-Money Options will be adjusted such that the exercise price will equal
the product of (A) the exercise price of an In-The-Money Option immediately prior to the Effective Time, multiplied by (B) the Comverse Conversion Ratio. The number of shares subject to the In-The-Money Options will be equal to the
quotient obtained by dividing (X) the number of shares subject to the In-The-Money Options held by the optionholder immediately prior to the Effective Time by (Y) the Comverse Conversion Ratio. All other terms and conditions of these
Comverse Options will remain the same after the Effective Time as the terms and conditions applicable to the In-The-Money Options immediately prior to the Effective Time, including, without limitation, the original option term and continued vesting
pursuant to the terms of the awards. 
 (ii) Group A CTI Options. The exercise price of the Group A CTI Options will be
adjusted such that the exercise price will equal one hundred percent (100%) of the published closing trading price of a share of Comverse common stock listed on the NASDAQ Stock Exchange on the Distribution Date. The number of shares subject to
the Group A CTI Options is determined based on the aggregate Black-Scholes Value of the Group A CTI Options immediately after the Effective Time which is equal to the aggregate Black-Scholes Value of the Group A CTI Options immediately prior to the
Effective Time. Any resulting fractional shares shall be rounded down to the nearest whole share. In addition, each Comverse Option issued in exchange for Group A CTI Options will have a new option term of ten years beginning on the Distribution
Date. All other terms and conditions of these Comverse Options will remain the same after the Effective Time as the terms and conditions applicable to the Group A CTI Options immediately prior to the Effective Time, including, without limitation,
continued vesting pursuant to the terms of the awards. 
 (iii) Group B CTI Options. The exercise price of the Group B
CTI Options will be adjusted such that the exercise price will equal two hundred percent (200%) of the published closing trading price of a share of Comverse common stock listed on the NASDAQ Stock Exchange on the Distribution Date. The number
of shares subject to the Group B Options is determined based on the aggregate Black-Scholes Value of the Group B CTI Options immediately after the Effective Time which is equal to the aggregate Black-Scholes

  
 9 

 
Value immediately prior to the Effective Time. Any resulting fractional shares shall be rounded down to the nearest whole share. All other terms and conditions of these Comverse Options will
remain the same after the Effective Time as the terms and conditions applicable to such CTI Options immediately prior to the Effective Time, including, without limitation, the original option term and continued vesting pursuant to the terms of the
awards. 
 (b) Remaining CTI Employees. 
 (i) In-The-Money Options. The exercise price of the In-The-Money Options will be adjusted such that the exercise price will equal the product of (A) the exercise price of an In-The-Money
Option immediately prior to the Effective Time, multiplied by (B) the CTI Conversion Ratio. The number of shares subject to the In-The-Money Options will be equal to the quotient obtained by dividing (X) the number of shares subject
to the In-The-Money Options held by the optionholder immediately prior to the Effective Time by (Y) the CTI Conversion Ratio. All other terms and conditions of these CTI Options will remain the same after the Effective Time as the terms
and conditions applicable to the In-The-Money Options immediately prior to the Effective Time, including, without limitation, the original option term and continued vesting pursuant to the terms of the awards. 

(ii) Group A CTI Options. The exercise price of the Group A CTI Options will be adjusted such that the exercise price will equal
one hundred percent (100%) of the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange on the Distribution Date. The number of shares subject to the Group A CTI Options is determined based on the
aggregate Black-Scholes Value of the Group A CTI Options immediately after the Effective Time which is equal to the aggregate Black-Scholes Value of the Group A CTI Options immediately prior to the Effective Time. Any resulting fractional shares
shall be rounded down to the nearest whole share. In addition, each CTI Option issued in exchange for Group A CTI Options will have a new option term of ten years beginning on the Distribution Date, provided that nothing herein is intended to alter
or amend the treatment of such award contemplated in connection with the merger of CTI with and into a subsidiary of Verint. All other terms and conditions of these CTI Options will remain the same after the Effective Time as the terms and
conditions applicable to the Group A CTI Options immediately prior to the Effective Time, including, without limitation, continued vesting pursuant to the terms of the awards. 

(iii) Group B CTI Options. The exercise price of the Group B CTI Options will be adjusted such that the exercise price will equal
two hundred percent (200%) of the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange on the Distribution Date. The number of shares subject to the Group B Options is determined based on the
aggregate Black-Scholes Value of the Group B CTI Options immediately after the Effective Time which is equal to the aggregate Black-Scholes Value immediately prior to the Effective Time. Any resulting fractional shares shall be rounded down to the
nearest whole share. All other terms and conditions of these CTI Options will remain the same after the Effective Time as the terms and conditions applicable to such CTI Options immediately prior to the Effective Time, including, without limitation,
the original option term and continued vesting pursuant to the terms of the awards. 

  
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 Section 7.3 CTI Stock Units. As of the Effective Time, (1) CTI Stock Units
held by Comverse Employees or Transferred Employees will be converted to Comverse Stock Units and (2) CTI Stock Units held by Remaining CTI Employees will remain CTI Stock Units. 

(i) Comverse Employees and Transferred Employees. The number of shares subject to the Comverse Stock Units is equal to the number
of CTI shares of common stock underlying the CTI Stock Units held as of the Effective Time multiplied by a ratio, the numerator of which is equal to the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock
Exchange traded “regular way” on the day prior to the Distribution Date and, the denominator of which is equal to the published closing trading price of a share of Comverse common stock listed on the NASDAQ Stock Exchange on the
Distribution Date. In lieu of fractional Comverse Stock Units, cash shall be given to holders otherwise entitled to such fractional Comverse Stock Units on the Distribution Date. All other terms and conditions of the Comverse Stock Units will remain
the same after the Effective Time as the terms and conditions of the CTI Stock Units immediately prior to the Effective Time, including, without limitation, continued vesting and payment pursuant to the terms of the awards. 

(ii) Remaining CTI Employees. The number of shares subject to the CTI Stock Units is equal to the number of CTI shares of common
stock underlying the CTI Stock Units held as of the Effective Time multiplied by a ratio, the numerator of which is equal to the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange traded “regular
way” on the day prior to the Distribution Date and, the denominator of which is equal to the published closing trading price of a share of CTI common stock listed on the NASDAQ Stock Exchange on the Distribution Date. In lieu of fractional CTI
Stock Units, cash shall be given to holders otherwise entitled to such fractional CTI Stock Units on the Distribution Date. All other terms and conditions of the CTI Stock Units will remain the same after the Effective Time as the terms and
conditions of such awards immediately prior to the Effective Time, including, without limitation, vesting and payment pursuant to the terms of the awards. 
 Section 7.4 Registration Requirements. Comverse agrees that it shall file, and shall use reasonable efforts to maintain on a continuous basis, an effective registration statement under the
Securities Act of 1933, as amended (the “Securities Act”) (and maintain the prospectus contained therein for its intended use) with respect to the shares of Comverse common stock authorized for issuance under a Comverse stock
incentive plan. CTI agrees that, following the Effective Time until such time that CTI ceases to be a public issuer, it shall use reasonable efforts to continue to maintain a Form S-8 Registration Statement with respect to and cause to be registered
pursuant to the Securities Act, the shares of CTI common stock authorized for issuance under the CTI Stock Incentive Plans as required pursuant to the Securities Act and any applicable rules or regulations thereunder. 

  
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 ARTICLE VIII 
 GENERAL AND ADMINISTRATIVE 
 Section 8.1 Sharing of
Information. CTI and Comverse shall share with each other and their respective agents and vendors (without obtaining releases) all participant information necessary for the efficient and accurate administration of each of the Benefit Plans. CTI
and Comverse and their respective authorized agents shall, subject to applicable laws, be given reasonable and timely access to, and may make copies of, all information relating to the subjects of this Agreement in the custody of the other Party, to
the extent necessary for such administration. Until the Effective Time, all participant information shall be provided in the manner and as may be mutually agreed to by CTI and Comverse. 

Section 8.2 Reasonable Efforts/Cooperation. Each of the Parties will use its commercially reasonable efforts to promptly
take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable laws and regulations to consummate the transactions contemplated by this Agreement. Each of the Parties shall
cooperate fully on any issue relating to the transactions contemplated by this Agreement for which the other Party seeks a determination letter or private letter ruling from the Internal Revenue Service, an advisory opinion from the Department of
Labor or any other filing (including, but not limited to, securities filings (remedial or otherwise)), consent or approval with respect to or by a governmental agency or authority in any jurisdiction in the U.S. or abroad. 

Section 8.3 Consent of Third Parties. If (i) any provision of this Agreement is dependent on the consent of any third
party and such consent is withheld, the Parties shall implement the applicable provisions of this Agreement to the fullest extent practicable, and (ii) any provision of this Agreement cannot be implemented due to the failure of such third-party
to consent, CTI and Comverse shall negotiate in good faith to implement the provision (as applicable) in a mutually satisfactory manner. 
 Section 8.4 Fiduciary Matters. It is acknowledged that actions required to be taken pursuant to this Agreement may be subject to fiduciary duties or standards of conduct under ERISA or other
applicable law, and no Party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon its good faith determination that to do so would violate such a fiduciary duty or standard. Each Party
shall be responsible for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary responsibilities and shall fully release and indemnify the other Party for any Liabilities caused by the failure to satisfy any
such responsibility. 
 Section 8.5 Coordination with the Transition Services Agreement. The administrative costs
and expenses of Comverse related to its provision of certain services to CTI as described in this Agreement, including, without limitation, payroll administration and health and welfare benefits administration, shall be governed by the terms of the
Transition Services Agreement. 

  
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 ARTICLE IX 
 MISCELLANEOUS 
 Section 9.1 Amendment and Modifications. This
Agreement may be amended, modified or supplemented at any time by the Parties, but only by an instrument in writing signed on behalf of the Parties. 
 Section 9.2 Effect if Effective Time Does Not Occur. If the Distribution Agreement is terminated prior to the Effective Time, then this Agreement shall terminate and all actions and events
that are, under this Agreement, to be taken or occur effective immediately prior to or as of the Effective Time or otherwise in connection with the Distribution, shall not be taken or occur except to the extent specifically agreed by CTI and
Comverse. 
 Section 9.3 Entire Agreement; Assignment. This Agreement (a) constitutes, together with the
Distribution Agreement and the Ancillary Agreements, the entire agreement among the Parties with respect to the subject matter hereof and supersedes all other prior agreements and understandings, both written and oral, among the Parties with respect
to the subject matter hereof and (b) shall not be assigned by operation of law or otherwise. 
 Section 9.4
Validity. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provisions of this Agreement, each of which shall remain in full force and effect. 

Section 9.5 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall
be deemed to have been duly given if delivered personally, telecopied (which is confirmed) or sent by registered or certified mail (postage prepaid, return receipt requested) to the Parties or beneficiaries hereto at the following addresses:

 If to CTI, to: 
 Comverse Technology, Inc. 
 810 Seventh Avenue 

New York, NY 10019 
 Attention: General Counsel 
 If to Comverse, to: 

Comverse, Inc. 

200 Quannapowitt Parkway 
 Wakefield, MA 01880 
 Attention: General Counsel 

  
 13 

 or to such other address as the Person to whom notice is given may have previously furnished to the others
in writing in the manner set forth above (provided that notice of any change of address shall be effective only upon receipt thereof). 
 Section 9.6 Incorporation of Distribution Agreement Provisions. The following provisions of the Distribution Agreement are hereby incorporated herein by reference, and unless otherwise
expressly specified herein, such provisions shall apply as if fully set forth herein mutatis mutandis (references in this Section 9.6 to an “Article” shall mean an Article of the Distribution Agreement, and references in the material
incorporated herein by reference shall be references to the Distribution Agreement): Article III (relating to Indemnification); Article IV (relating to Access to Information); and Article V (relating to Miscellaneous). 

Section 9.7 No Plan Amendment; No Third Party Beneficiaries. Nothing in this Agreement shall (a) amend, or be deemed to
amend, any Benefit Plan or (b) provide any Person not a party to this Agreement with any right, benefit or remedy with regard to any Benefit Plan. 

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

			
	COMVERSE TECHNOLOGY, INC.
		
	By:	 	/s/ Shefali Shah
	Name:	 	Shefali Shah
	Title:	 	Senior Vice President, General Counsel and Corporate Secretary

  

			
	COMVERSE, INC.
		
	By:	 	/s/ Thomas B. Sabol
	Name:	 	Thomas B. Sabol
	Title:	 	Chief Financial Officer

 [Signature Page to Employee Matters Agreement] 

  
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