Document:

Deferred Stock Award Agreement - Comverse and Mark Terrell

 Exhibit 10.168 

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, the Company hereby grants to Mark Terrell (the “Grantee”) a total of
10,000 Deferred Stock Units (the “Granted Units”) as of December 3, 2009. 
 (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. 
 (c) Plan and Defined Terms. This award is granted
under and subject to the terms of the 2005 Stock Incentive Compensation Plan and the Stock Incentive Compensation Plan (2005) Addendum dated July 5, 2005 (together 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 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 100% on January 1, 2011 (the “Vesting Date”). 

(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 any Affiliate in any capacity of Employee, Director or Consultant (irrespective of whether the Grantee continues to receive
severance or any other continuation payments or benefits after such date) (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 approved leave of absence, (ii) transfers among the Company, any Subsidiary
or Affiliate, or any successor, in any capacity of 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 of Employee,
Director or Consultant. 
 (c) Involuntary Termination. In the event of Service Termination due to death, disability, mandatory
retirement pursuant to Board policy or failure of the Director to be re-nominated or re-elected to the Board (provided such Director has indicated his willingness to stand for re-nomination or re-election, as the case may be), the Granted Units
shall vest on the Termination Date and the shares of Common Stock to be issued under the vested Granted Units shall be delivered to the Grantee in accordance with Section 4 hereof, provided, however, that in the event of a Change in Control on
or after the Termination Date and prior to the Delivery Date, the Common Stock shall be delivered on the date of the Change in Control. 
 (d)
Resignation or Other Termination. In the event of Service Termination resulting from the Grantee’s voluntary resignation or termination from the Board for any reason except as set forth in Section 3(c) above, all unvested Granted
Units subject to this award shall be immediately forfeited as of the Termination Date. 
 (e) Change in Control. Any unvested portion of
the Granted Units shall become 100% vested upon a Change in Control. 
 SECTION 4. SETTLEMENT OF GRANTED UNITS. 

The Company shall deliver to the Grantee on the Vesting Date or upon the date the Granted Units pursuant to Sections 3(c) or
 3(e), or
as soon as practicable thereafter, 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. 
 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) to shareholders of the Company,
or any extraordinary dividend or distribution of cash or other assets, 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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 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 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). 

SECTION 7. DEFINITIONS. 
 (a)
“Agreement” shall mean this Deferred Stock Unit Award Agreement. 
 (b) “Board” shall mean the Board of
Directors of the Company. 
  

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 (c) “Change of Control” means, and shall be deemed to have occurred: 

(i) any person, entity or affiliated group becoming the beneficial owner or owners of more than fifty percent (50%) of the
outstanding equity securities of the Company, or otherwise becoming entitled to vote shares representing more than fifty percent (50%) of the total voting power of the Company’s then-outstanding securities eligible to vote to elect members
of the Board (the “Voting Securities”); 
 (ii) a consolidation or merger (in one transaction or a series of
related transactions) of the Company pursuant to which the holders of the Company’s Voting Securities immediately prior to such transaction (or series of related transactions) would not be the holders immediately after such transaction (or
series of related transactions) of more than fifty percent (50%) of the Voting Securities of the entity surviving such transaction (or series of related transactions); 

(iii) during any period of two consecutive years, individuals who at the beginning of such period constituted the entire Board ceased for
any reason to constitute a majority thereof unless the election, or the nomination for election by the Company’s shareholders, of each new director was approved by a vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period; or 
 (iv) a sale of all or substantially all of the Company’s assets. 

(d) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder.

 (e) “Disability” shall mean the Grantee’s inability to substantially perform his duties and responsibilities at the
Company for a period of six (6) consecutive months or nine (9) out of twelve (12) nonconsecutive months due to a physical or mental disability. 

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

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

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

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

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

THIS AWARD SHALL BE SUBJECT TO ALL POLICIES ADOPTED BY THE BOARD WITH RESPECT TO DIRECTOR COMPENSATION, AS SUCH POLICIES MAY BE AMENDED FROM TIME TO
TIME, INCLUDING THE POLICIES ADOPTED PURSUANT TO THE CORPORATE GOVERNANCE GUIDELINES & PRINCIPLES, AS AMENDED AND RESTATED BY THE BOARD OF DIRECTORS ON APRIL 20, 2007, 

 

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WHICH CURRENTLY PROVIDES THAT DIRECTORS ARE REQUIRED TO HOLD FIFTY-PERCENT (50%) OF ALL SHARES OF COMMON STOCK RECEIVED AS COMPENSATION (AFTER THE SALE OF THAT PORTION NECESSARY FOR PAYMENT
OF TAX LIABILITY) FOR AT LEAST AS LONG AS THE DIRECTOR CONTINUES TO SERVE ON THE BOARD. 
 IN WITNESS WHEREOF, each of the
parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the date below and the Agreement is effective as of the day and year first above written. 

 

							
	GRANTEE:	 		 	COMVERSE TECHNOLOGY, INC.
				
	/s/ Mark C. Terrell	 		 	By:	 	/s/ Andre Dahan
		 		 	Name: 	 	Andre Dahan
		 		 	Title:	 	President and Chief Executive Officer
				
	    December 11, 2009    	 		 		 	    December 10, 2009    
	Date	 		 		 	Date

  

 5Deferred Stock Award Agreement - Comverse and Andre Dahan

 Exhibit 10.169 

COMVERSE TECHNOLOGY, INC. 

2004 STOCK INCENTIVE COMPENSATION PLAN 

DEFERRED STOCK AWARD AGREEMENT 

REFERENCE NUMBER: 010-21 

SECTION 1. GRANT OF DEFERRED STOCK UNITS. 

(a) Award. On the terms and conditions set forth in this Agreement, the Company granted to Andre Dahan (the “Grantee”) a total of
300,000 Deferred Stock Units (the “Granted Units”) on March 26, 2010 (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. 
 (c) Plan
and Defined Terms. This award is granted under and subject to the terms of the 2004 Stock Incentive Compensation Plan (the “Plan”), which is incorporated herein by reference. Capitalized terms used herein and not defined in the
Agreement shall have the meaning set forth in the Plan. 
 (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 forty percent (40%) of the Granted Units on the first anniversary of the Grant Date, thirty
percent (30%) of the Granted Units on the second anniversary of the Grant Date, and thirty percent (30%) of the Granted Units on the third anniversary of the Grant Date or such earlier date as may be determined pursuant to any other
subsection of this Section 3 (each, a “Vesting Date”). 
 (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 of 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 approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate, or any successor, in any capacity of 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 of Employee, Director or Consultant. 
 (c)
Certain Termination. In the event of a Service Termination, (i) by the Company without Cause, (ii) by the Company by providing a notice of non-renewal, in accordance with Section 2 of the Employment Agreement, (iii) by the
Grantee for Good Reason, or (iv) resulting from the Grantee’s Disability or death, any unvested portion of 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 herein shall be delivered to the Grantee on the applicable Vesting Date. 
 SECTION 4. SETTLEMENT OF
GRANTED UNITS. 
 Subject to Section 5 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. 

SECTION 5. WITHHOLDING REQUIREMENTS. 

In accordance with Section 14.2 of the Plan, the Grantee shall make arrangements satisfactory to the Company to enable it to satisfy all such
withholding requirements in respect of any delivery to the Grantee of shares of Common Stock pursuant to Section 4 hereof. 

SECTION 6. 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, 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. 
 SECTION 7. 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. 
  

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 (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 Plan and the Employment Agreement
constitute the entire contract between the parties hereto with regard to the Granted Units. 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)
Section 409A. The following shall only be applicable if the Grantee is subject to taxation in the United States or the Grantee is otherwise subject to Section 409A: 

(i) If any Granted Units (any payment in lieu thereof), shares of Common Stock in respect thereof or other benefit provided by the
Company to the Grantee pursuant to this Agreement and in connection with the Grantee’s Service Termination is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A
and the Grantee is a specified employee as defined in Section 409A(2)(B)(i) as of the date of such Service Termination, no part of such Granted Units (any payment in lieu thereof), shares of Common Stock in respect thereof or other benefit
shall be delivered or paid before the day that is six (6) months plus one (1) day after the date of such Service Termination (the “New Payment Date”). The aggregate of any Granted Units (any payment in lieu thereof), shares of
Common Stock in respect thereof or other benefit that otherwise would have been delivered or paid to the Grantee during the period between the date of Service Termination and the New Payment Date shall be delivered or paid to the Grantee in a lump
sum on such New Payment Date. Thereafter, any delivery or payments that remain outstanding as of the date immediately following the New Payment Date shall be delivered or paid without delay over the time period originally scheduled, in accordance
with the terms of this Agreement. 
 (ii) The parties acknowledge and agree that the interpretation of Section 409A and its
application to the terms of this Agreement is uncertain and may be subject to change as additional guidance and interpretations become available. Anything to the contrary herein notwithstanding, any Granted Units (any payment in lieu thereof),
shares of Common Stock in respect thereof or other benefit provided by the Company to the Grantee that would be deemed to 
  

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constitute “nonqualified deferred compensation” within the meaning of Section 409A are intended to comply with Section 409A. If however, the Granted Units (any payment in lieu
thereof), shares of Common Stock in respect thereof or any other benefit is deemed to not comply with Section 409A, the Company and the Grantee 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 Grantee the after-tax economic equivalent of what otherwise has been provided to the Grantee pursuant to the terms of this Agreement; 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. 
 (iii) A termination of employment shall not be
deemed to have occurred for purposes of any provision of this Agreement providing for the delivery of shares of Common Stock under vested Granted Units (or the payment of any amount in lieu thereof) subject to Section 409A upon or following a
termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A, and for purposes of any such provision of this Agreement, references to a “Service Termination” or
termination or interruption of “Continuous Service” or like terms shall mean separation from service. 
 (iv) If under
this Agreement, an amount is paid or delivered in two or more installments, for purposes of Section 409A, each installment shall be treated as a separate payment. 

(v) Anything to the contrary herein or in the Plan or the Employment Agreement notwithstanding, neither the Company or any of its
Subsidiaries or Affiliates or any of their respective employees, directors, officers, agents or representatives nor any member of the Committee shall have any liability to a Grantee or otherwise with respect to the failure of the Plan, the Granted
Units or the Award Agreement to comply with Section 409A. 
 (h) Headings. Section and sub-section headings are for convenient
reference only and shall not control or affect the meaning or construction of any of its provisions. 
 (i) 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). 

SECTION 8. 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 Award Agreement. 

(c) “Cause” shall have the meaning ascribed to it in the Employment Agreement. 

(d) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder.

  

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 (e) “Disability” shall have the meaning ascribed to it in the Employment Agreement.

 (f) “Employment Agreement” shall mean the employment agreement by and between Comverse Technology, Inc. and the Grantee,
dated as of October 17, 2006, as may be amended from time to time. 
 (g) “Good Reason” shall have the meaning ascribed to
it in the Employment Agreement. 
 (h) “Grant Date” shall have the meaning described in Section 1(a) of this Agreement.

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

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

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

(l) “Section 409A” shall mean Section 409A of the Code and Department of Treasury regulations and other interpretive guidance
issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof. 
 (m)
“Service Termination” shall have the meaning described in Section 3(b) of this Agreement. 
 (n) “Termination
Date” shall have the meaning described in Section 3(b) of this Agreement. 
 (o) “Vesting Date” shall have the
meaning described in Section 3(a) of this Agreement. 
 (Signature Page Follows) 

 

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 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly
authorized officer, as set forth below and this Agreement shall be dated as of the latest date set forth below. 
  

							
	GRANTEE:	 		 	COMVERSE TECHNOLOGY, INC.
				
	 /s/ Andre Dahan
	 		 	By:	 	 /s/ Shefali Shah

	  
 Dated: 4/19/10
	 		 	Name:	 	Shefali Shah
	 		 	Title:	 	SVP, General Counsel and Corporate Secretary
				
		 		 	Dated:	 	4/14/10

  

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