EXHIBIT 10.1
 
AMENDMENT NO. 2 TO EXECUTIVE EMPLOYMENT AGREEMENT
 
 
This Amendment No. 2 to Executive Employment Agreement by and between
deltathree, Inc., a Delaware corporation (the “Company”) and Effi Baruch, an
individual (“Executive”) dated as of December 9, 2008 (the “Executive Employment
Agreement”), as amended by that certain Amendment No. 1, dated as of March 17,
2009 (“Amendment No. 1”, and together with the Executive Employment Agreement,
the “Agreement”), is dated as of October 20, 2009.
 
Recitals:
 
WHEREAS, the Company and Executive entered into the Executive Employment
Agreement, as amended by Amendment No. 1, and now wish to enter into this
Amendment No. 2 to Executive Employment Agreement (“Amendment No. 2”) to further
amend the Agreement as set forth below;
 
NOW, THEREFORE, in consideration of the foregoing Recitals and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:
 
1.           The first sentence of Section 5(b)(i) of the Agreement is hereby
deleted in its entirety and replaced with the following:
 
“In the event that Executive's employment is terminated by the Company Without
Cause, the Company shall pay Executive (i) his Earned Salary and Vested Benefits
(as such terms are hereinafter defined) and (ii), subject to Executive executing
a general release of all claims to the maximum extent permitted by law against
the Company, its subsidiaries and Affiliates, and their current and former
officers, directors, employees and agents in such form as reasonably determined
by the Company, a lump sum payment equal to Executive’s then-current monthly
Base Salary multiplied by three (3) (the “Severance Payment”), provided that the
Company shall not be so required to pay the Severance Payment, and Executive
shall waive all rights in connection therewith, in the event that the Company or
any subsidiary or Affiliate thereof shall offer Executive, and Executive shall
accept, employment in any other position with the Company or any subsidiary or
Affiliate thereof.”
 
2.           The first sentence of Section 5(c) of the Agreement is hereby
deleted in its entirety and replaced with the following:
 
“Earned Salary and Severance Payment (if applicable) shall be paid in a single
lump sum as soon as practicable, but in no event later than the date as set by
law following the end of the Employment Period or the day any Earned Salary
would have been payable under the Company's normal payroll practices.”
 
3.           The foregoing amendment to the Agreement shall be effective
commencing on the date hereof.
 
4.           Except as expressly provided in this Amendment No. 2, all of the
terms and conditions of the Agreement remain unchanged, and the terms and
conditions of the Agreement as amended hereby remain in full force and effect.
 
IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 2 as of
the date first set forth above.
 
 
DELTATHREE, INC.
 
By:  /s/ Robert Stevanovski

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Name: Robert Stevanovski
Title:   Chairman of the Board
 
/s/ Effi Baruch

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Effi Baruch
 
 

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