Exhibit 10.75

 

iBasis

 

 

iBasis, Inc.

 

20 Second Avenue, Burlington, MA 01803 USA

 

Confidential

 

 

781 505.7500, FAX 505.7300, ibasis.net

 

 

 

July 10, 2002

Dan Powdermaker

Re: “Double Jeopardy’’

Dear Dan:

In the event that iBasis, Inc. (“Company) terminates your employment without
cause or you terminate your employment for good reason, in either case within
six months after the occurrence of an acquisition or change in control, then the
Company will continue to pay your base salary and provide health benefits for
nine months and your options and restricted stock, if any, shall immediately
vest and become exercisable, and each option shall remain exercisable until the
expiration of the option or until it sooner terminates in accordance with its
terms.

Sincerely,

 

/s/ Gordon VanderBrug

 

Gordon VanderBrug

 

Executive Vice President

 

cc: Tamah Rosker, Esq.

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