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Sample Business Contracts

Restricted Stock Award Agreement - Comverse Technology Inc.

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                        RESTRICTED STOCK AWARD AGREEMENT
                        --------------------------------

This Restricted Stock Award Agreement ("Agreement"), (Agreement_Date_Year), is
between Comverse Technology, Inc., a New York corporation (the "Company"), and
(Name) ("Employee").

                                   WITNESSETH:

WHEREAS, the Company has adopted the Comverse Technology, Inc. (Year) Stock
Incentive Compensation Plan, as the same may be amended or restated (the
"Plan"); and

WHEREAS, capitalized terms used but not defined in this Agreement shall have the
meanings set forth in the Plan;

NOW, THEREFORE, the parties, intending to be legally bound, agree as follows:

1      RESTRICTED STOCK

1.1    Grant of Restricted Stock.
       -------------------------

(A)    Pursuant to the provisions of the Plan, the Committee hereby awards to
       the Employee, on the date hereof (the "Date of Grant"), subject to the
       terms and conditions of the Plan and subject further to the terms and
       conditions herein set forth, (share_number) shares of Common Stock (the
       "Restricted Stock"). If and when the restrictions set forth in Paragraph
       1.2 expire in accordance with the terms of this Agreement without
       forfeiture of the Restricted Stock, and upon the satisfaction of all
       other applicable conditions as to the Restricted Stock, such shares shall
       no longer be considered Restricted Stock for purposes of this Agreement.

(B)    As soon as practicable after the Date of Grant, the Company shall direct
       that a stock certificate or certificates representing shares of
       Restricted Stock be registered in the name of and issued to the Employee.
       Such certificate or certificates shall be held in the custody of the
       Company or its designee until such shares no longer are considered
       Restricted Stock.

(C)    On or before the issuance of the stock certificate or certificates
       representing the Restricted Stock, the Employee shall deliver to the
       Company stock powers endorsed in blank relating to the Restricted Stock,
       in a form provided by the Company. Employee irrevocably appoints the
       Company and each of its officers, employees and agents as his true and
       lawful attorneys with power (i) to sign in Employee's name and on
       Employee's behalf stock certificates and stock powers covering the
       Restricted Stock and such other documents and instruments as the
       Committee deems necessary or desirable to carry out the terms of this
       Agreement and (ii) to take such other action as the Committee deems
       necessary or desirable to effectuate the terms of this Agreement. This
       power, being coupled with an interest, is irrevocable. Employee agrees to
       execute such other stock powers and documents as may be reasonably
       requested from time to time by the Committee to effectuate the terms of
       this Agreement.


<PAGE>
(D)    Each certificate of the Restricted Stock shall bear the following legend
       (the "Legend"):

              "The ownership and transferability of this certificate and the
              shares of stock represented hereby are subject to the terms and
              conditions (including forfeiture) of the Comverse Technology, Inc.
              (Year) Stock Incentive Compensation Plan and a Restricted Stock
              Award Agreement entered into between the registered owner and
              Comverse Technology, Inc. Copies of such Plan and Agreement are on
              file in the executive offices of Comverse Technology, Inc."

       In addition, the stock certificate or certificates for the Restricted
       Stock shall be subject to such stop-transfer orders and other
       restrictions as the Company may deem advisable under the rules,
       regulations, and other requirements of the Securities and Exchange
       Commission, any stock exchange or securities association upon which the
       Common Stock is then listed, and any applicable federal or state
       securities law, and the Company may cause a legend or legends to be
       placed on such certificate or certificates to make appropriate reference
       to such restrictions.

(E)    As soon as administratively practicable following the applicable Vesting
       Date (as defined in Paragraph 1.3), and upon the satisfaction of all
       other applicable conditions as to such Vested Percentage (as defined in
       Paragraph 1.3) of Restricted Stock, including, but not limited to, the
       payment by the Employee of all applicable withholding taxes, the Company
       shall deliver or cause to be delivered to the Employee a certificate or
       certificates for the applicable shares of Restricted Stock which shall
       not bear the Legend.

1.2    Restrictions.
       ------------

(A)    The Employee shall have all rights and privileges of a stockholder as to
       the Restricted Stock, including the right to vote and receive dividends
       or other distributions with respect to the Restricted Stock, except that
       the following restrictions shall apply:

       (I)    the Employee shall not be entitled to delivery of the certificate
              or certificates for the Vested Percentage of shares of Restricted
              Stock until the applicable Vesting Date and upon the satisfaction
              of all other applicable conditions;

       (II)   shares of Restricted Stock may not be sold, pledged, assigned,
              transferred, or otherwise encumbered or disposed of for any reason
              until the applicable Vesting Dated;

       (III)  all shares of Common Stock distributed as a dividend or
              distribution, if any, with respect to shares of Restricted Stock
              prior to the applicable Vesting Date shall be delivered to and
              held by the Company and subject to the same restrictions as the
              shares of Restricted Stock in respect of which the dividend or
              distribution was made; and


<PAGE>
       (IV)   all unvested shares of Restricted Stock shall be forfeited and
              returned to the Company and all rights of the Employee with
              respect to such shares shall terminate in their entirety on the
              terms and conditions set forth in Paragraph 1.4.

(B)    Any attempt to dispose of unvested shares of Restricted Stock or any
       interest in such shares in a manner contrary to the restrictions set
       forth in this Agreement shall be void and of no effect.

1.3 Vesting. Subject to the provisions contained in Paragraphs 1.4, 1.5 and 1.6,
the restrictions set forth in Paragraph 1.2 with respect to shares of Restricted
Stock shall apply for a period beginning on the Date of Grant and ending on the
fourth anniversary of the Date of Grant; provided, however, the applicable
percentage of shares of Restricted Stock awarded hereunder (the "Vesting
Percentage") shall be deemed vested and no longer subject to restriction under
Paragraph 1.2 or forfeiture under Paragraph 1.4 on the applicable vesting date
("Vesting Date") in accordance with the following schedule:

           Vesting Date                           Vested Percentage
           ------------                           -----------------

         (first Vesting Date)                 (first Vested Percentage)
         (second Vesting Date)                (second Vested Percentage)
         (final Vesting Date)                 (final Vested Percentage)

1.4    Acceleration; Forfeiture.
       ------------------------

(A)    If Employee's employment with the Company is terminated due to Employee's
       death or Disability, then Employee will be entitled to the immediate full
       vesting on the date of termination of all shares of Restricted Stock.

       For purposes of this Agreement, "Disability" means the inability of
       Employee to properly perform his duties in the employ of the Company by
       reason of any physical or mental incapacity, in either case for a period
       of more than one hundred eighty (180) consecutive days, or two hundred
       ten (210) days in the aggregate in any twelve (12) month period. Whether
       Employee has a Disability will be determined by the Board of Directors
       (the "Board") of the Company in its sole discretion.

(B)    If Employee's employment terminates for any reason other than as set
       forth in Paragraph 1.4(a) above, all unvested shares of Restricted Stock
       shall be forfeited by Employee as of the date of termination. In the
       event of any such forfeiture, all such forfeited shares of Restricted
       Stock shall become the property of the Company and the certificate or
       certificates representing such shares of Restricted Stock shall be
       returned immediately to the Company.

1.5    Withholding.
       -----------

(A)    The Committee shall determine the amount of any withholding or other tax
       required by law to be withheld or paid by the Company with respect to any
       income recognized by the Employee with respect to the Restricted Stock.


<PAGE>
(B)    The Employee shall be required to meet any applicable tax withholding
       obligation in accordance with the provisions of the Plan.

(C)    The Committee shall be authorized, in its sole discretion, to establish
       such rules and procedures relating to the use of shares of Common Stock
       to satisfy tax withholding obligations as it deems necessary or
       appropriate to facilitate and promote the conformity of the Employee's
       transactions under the Plan and this Agreement with Rule 16b-3 under the
       Securities Exchange Act of 1934, as amended, if such Rule is applicable
       to a transaction by the Employee.

1.6 Committee's Discretion. Notwithstanding any provision of this Agreement to
the contrary, the Committee shall have discretion to waive any forfeiture of the
Restricted Stock and any other conditions set forth in this Agreement.

2      REPRESENTATIONS OF THE EMPLOYEE

The Employee hereby represents to the Company that the Employee has read and
fully understands the provisions of this Agreement and the Plan, and the
Employee acknowledges that the Employee is relying solely on his or her own
advisors with respect to the tax consequences of this award.

3      NOTICES

All notices or communications under this Agreement shall be in writing,
addressed as follows:

To the Company:

                     (Name of General Counsel)
                     (Address 1)
                     (Address 2)
                     (Address 3)
                     (City_State_Zip)
                     (Phone)

To the Employee:

                     (Name of Employee)
                     (Address 1)
                     (Address 2)
                     (Address 3)
                     (City_State_Zip)

Any such notice or communication shall be (a) delivered by hand (with written
confirmation of receipt) or sent by a nationally recognized overnight delivery
service (receipt requested) or (b) be sent certified or registered mail, return
receipt requested, postage prepaid, addressed as above (or to such other address
as such party may designate in writing from time to time), and the actual date
of receipt shall determine the time at which notice was given.


<PAGE>
4      ASSIGNMENT; BINDING AGREEMENT

This Agreement shall be binding upon and inure to the benefit of the heirs and
representatives of the Employee and the assigns and successors of the Company,
but neither this Agreement nor any rights hereunder shall be assignable or
otherwise subject to hypothecation by the Employee.

5      ENTIRE AGREEMENT; AMENDMENT

This Agreement represents the entire agreement of the parties with respect to
the subject matter hereof, except that the provisions of the Plan are
incorporated in this Agreement in their entirety. In the event of any conflict
between the provisions of this Agreement and the Plan, the provisions of the
Plan shall control. This Agreement may be amended by the Committee without the
consent of the Employee except in the case of an amendment adverse to the
Employee, in which case the Employee's consent shall be required.

6      GOVERNING LAW

This Agreement and its validity, interpretation, performance and enforcement
shall be governed by the laws of the State of New York other than the conflict
of laws provisions of such laws.

7      SEVERABILITY

Whenever possible, each provision in this Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision
of this Agreement shall be held to be prohibited by or invalid under applicable
law, then (a) such provision shall be deemed amended to accomplish the
objectives of the provision as originally written to the fullest extent
permitted by law and (b) all other provisions of this Agreement shall remain in
full force and effect.

8      NO RIGHT TO CONTINUED EMPLOYMENT OR PARTICIPATION; EFFECT ON OTHER PLANS

This Agreement shall not confer upon the Employee any right with respect to
continued employment by the Company, a Subsidiary or Affiliate, nor shall it
interfere in any way with the right of the Company a Subsidiary or Affiliate to
terminate the Employee's employment at any time. Payments received by the
Employee pursuant to this Agreement shall not be included in the determination
of benefits under any pension, group insurance or other benefit plan of the
Company or any Subsidiaries or Affiliate in which the Employee may be enrolled
or for which the Employee may become eligible, except as may be provided under
the terms of such plans or determined by the Board.

9      NO STRICT CONSTRUCTION

No rule of strict construction shall be implied against the Company, the
Committee or any other person in the interpretation of any of the terms of the
Plan, this Agreement or any rule or procedure established by the Committee.

10     USE OF THE WORD "EMPLOYEE"

Wherever the word "Employee" is used in any provision of this Agreement under
circumstances where the provision should logically be construed to apply to the
executors, the administrators, or the person or persons to whom the Restricted
Stock may be transferred by will or the laws of descent and distribution, the
word "Employee" shall be deemed to include such person or persons.



<PAGE>
11     FURTHER ASSURANCES

The Employee agrees, upon demand of the Company or the Committee, to do all acts
and execute, deliver and perform all additional documents, instruments and
agreements (including, without limitation, stock powers with respect to shares
of Common Stock issued as a dividend or distribution on Restricted Stock) which
may be reasonably required by the Company or the Committee, as the case may be,
to implement the provisions and purposes of this Agreement and the Plan.

IN WITNESS WHEREOF, the parties have duly executed this Agreement, as of the day
and year first above written.

COMVERSE TECHNOLOGY, INC.
COMPENSATION COMMITTEE



By:
   --------------------------------------------
      Name:
      Title:

By:
   --------------------------------------------
      Name:
      Title:

By:
   --------------------------------------------
      Name:
      Title:



EMPLOYEE


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Name: