SEC Contract Filing

Filing Date: 2015-09-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>5
<FILENAME>cnsi-7312015xexhibit101.htm
<DESCRIPTION>EXHIBIT 10.1 - EMPLOYMENT AGREEMENT
<TEXT>
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<a name="s34764a947159485ea3d155e475ecac56"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">August 6, 2014</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">By Electronic Mail</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Michael Grossi</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dear Michael,</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">We are pleased to extend an offer to you (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to join Comverse, Inc. (the &#8220;Company&#8221;) pursuant to the terms of this Employment Letter (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Letter</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company desires that Executive become employed by, and Executive desires to be employed by, the Company effective as of September 2, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of such employment and the mutual covenants and promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows: </font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:0px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Employment</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The Company hereby agrees to employ Executive, and Executive hereby agrees to accept employment with the Company, upon the terms and conditions contained in this Letter. Executive&#8217;s employment with the Company shall commence on the Effective Date and shall continue, subject to earlier termination of such employment pursuant to the terms hereof, until the third anniversary of the Effective Date (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term</font><font style="font-family:inherit;font-size:12pt;">&#8221;). In the event Executive continues in employment after the expiration of the Term, unless the Company and Executive have mutually agreed in writing to extend the Term, such employment shall be &#8220;at will&#8221; employment and may be terminated at any time by either party on written notice, but without </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections 5 and 6</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof applying thereto.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Duties</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;During the Term, Executive shall serve on a full-time basis and perform services in a capacity and in a manner consistent with Executive&#8217;s position for the Company and any entity that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the Company (an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Affiliate</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Executive shall have the title of Senior Vice President and Chief Strategy Officer and shall have such duties, authorities and responsibilities as are consistent with such position. Executive shall report directly to the Chief Executive Officer of the Company. Executiv