April 23, 2008
Comverse Technology, Inc.
810 Seventh Avenue, 35th Floor
New York, NY 10019
Attention: Andre Dahan, President and Chief Executive Officer
|Re:||Deferred Stock Award Agreement (the Agreement) between Comverse Technology, Inc. (the Company) and Avi Aronovitz|
Dear Mr. Dahan:
This letter serves as the undersigneds irrevocable election to satisfy the aggregate withholding obligation of $49,227.74 (the Withholding Tax) in connection with the vesting of 8,618 deferred stock units (the Award) on April 20, 2008 (the Vesting Date) by directing the Company to retain 2,913 shares of the Companys common stock issuable upon vesting of the Award sufficient to cover the Withholding Tax valuing each share at $16.90, the closing price of the shares of the Companys common stock on Friday, April 18, 2008, the last business day before the Vesting Date.
Upon your acknowledgement of the election, I understand that, as soon as practicable following the Vesting Date, the Company will deliver 5,705 shares of the Companys common stock, to my attention, representing to balance of the shares of the Companys common stock vesting under the Award.
|AGREED AND ACKNOWLEDGED|
|COMVERSE TECHNOLOGY, INC.|
|By:||/s/ Andre Dahan|
|Title:||President and Chief Executive Officer|
Date: April 23, 2008