Separation and Release Agreement between Comverse Ltd. and Yaron Tchwella
This agreement, dated December 19, 2007, is between Comverse Ltd. and Yaron Tchwella. It confirms the termination of Mr. Tchwella's employment as President of Comverse Ltd. without cause. Both parties agree to the terms set out in a prior separation agreement, finalizing the end of the employment relationship and releasing each other from further obligations. The agreement is signed by both Mr. Tchwella and a representative of Comverse Ltd.
Exhibit 10.149
CONFIDENTIAL
Separation and Release Agreement
Dated this 19th day of December, 2007
| Between: | Yaron Tchwella (Israel ID Number 56470685) | |||
| 3 SNIR ST (address) | ||||
| HOD HASHARON ISRAEL | ||||
| (the “Employee”) | ||||
| and between: | Comverse Ltd. | |||
| 29 Habarzel Street | ||||
| Ramat Hachayal, Tel-Aviv, Israel 69710 | ||||
| (the “Company”) | ||||
Whereas, the Company has unilaterally notified Employee of the termination of his employment with the Company, without cause, and the Company has terminated the Employee’s services as President; and
Whereas, the parties have reached an agreement to terminate such employment in accordance with the terms and conditions of the separation agreement between Comverse, Inc. and Employee dated .th of December 2007 (the “Agreement”).
Now, therefore, the parties hereto hereby agree that each party is bound to all of the terms specified in the “Agreement.”
In Witness whereof, the parties have signed this Agreement as of the date first set forth above.
| /s/ Yaron Tchwella | /s/ Lance Miyamoto | |||
| Employee | Comverse Ltd. | |||
| By: Dec. 19, 2007 | ||||
| Title: EVP HUMAN RESOURCES |
