**EXHIBIT 3.01**

 

RESTATED CERTIFICATE OF INCORPORATION 

OF 

IDT CORPORATION 

 

IDT CORPORATION, a Delaware corporation, the original Certificate of Incorporation of which was filed with the Secretary of State of Delaware onDecember 22, 1995, HEREBY CERTIFIES that this Restated Certificate of Incorporation, restating, integrating and amending its Certificate of Incorporation and reclassifying its capital stock as described in Article FOURTH below, was duly adoptedin accordance with Sections 228, 242 and 245 of the General Corporation Law of the State of Delaware. 

 

FIRST: The name of the Corporation is IDT Corporation (the “Corporation”). 

 

SECOND: The address of the registered office of theCorporation in the State of Delaware is 1209 Orange Street in the City of Wilmington, County of New Castle. The name of its registered agent at such address is The Corporation Trust Company. 

 

THIRD: The purpose of the Corporation is to engage in anylawful act or activity for which a corporation may be organized under the General Corporation Law of the State of Delaware (the “GCL”). 

 

FOURTH: The aggregate number of shares of all classes of capital stock which the Corporation shall have the authority to issue is onehundred and forty-five million (145,000,000) shares, consisting of (a) 100,000,000 shares of common stock, par value $.01 per share (“Common Stock”), (b) 35,000,000 shares of Class A Common Stock, par value $.01 pershare (the “Class A Stock”, and collectively, such Common Stock and Class A Stock are referred to herein as the “Common Shares”), and (c) 10,000,000 shares of preferred stock, par value $.01 per share (“PreferredStock”). 

 

1. Preferred Stock 

 

The Board of Directors is hereby expressly authorized, by resolution orresolutions, to provide, out of the unissued and undesignated shares of Preferred Stock, for one or more series of Preferred Stock. Before any shares of any such series are issued, the Board of Directors shall fix, and hereby is expressly empoweredto fix, by resolution or resolutions, the following provisions of the shares thereof: 

 

(a) the designation of such series, the number of shares to constitute such series, and the stated value thereof if different from the parvalue thereof; 

 

(b) whether the shares of suchseries shall have voting rights, in addition to any voting rights provided by law, and, if so, the terms of such voting rights, which may be general or limited; 

 

(c) the dividends, if any, payable on such series, whether any such dividends shall be cumulative, and, ifso, from what dates, the conditions and dates upon which such dividends shall be payable, the preference or relation which such dividends shall bear to the dividends payable on any shares of stock of any other class or any other series of thisclass; 

 

(d) whether the shares of such seriesshall be subject to redemption by the Corporation, and, if so, the terms and conditions of such redemption, including the manner of selecting shares for redemption if less than all shares of such series are to be redeemed, the date or dates upon orafter which they shall be redeemable, and the amount per share payable in case of redemption, which amount may vary under different conditions and at different redemption dates; 

 

(e) the amount or amounts payable upon shares of such series upon, and the rights of the holders of suchseries in, the voluntary or involuntary liquidation, dissolution or winding up, or upon any distribution of the assets, of the Corporation, and whether such rights shall be in preference to, or in another relation to, the comparable rights of anyother class or classes or series of stock; 

 

(f) whether the shares of such series shall be subject to the operation of a retirement or sinking fund and, if so, the extent to and manner in which any such retirement or sinking fund shall be applied to the 

purchase or redemption of the shares of such series for retirement or other corporate purposes and the terms and provisions relative to the operationthereof; 

 

(g) whether the shares of suchseries shall be convertible into, or exchangeable for, shares of stock of any other series of this class or any other securities and, if so, the price or prices or the rate or rates of conversion or exchange and the method, if any, of adjusting thesame, and any other terms and conditions of conversion or exchange; 

 

(h) the limitations and restrictions, if any, to be effective while any shares of such series are outstanding upon the payments of dividends or the making of other distributions on, and upon the purchase, redemptionor other acquisition by the Corporation of, the Common Stock, the Class A Stock or shares of stock of any other class or any other series of this class; 

 

(i) the conditions or restrictions, if any, upon the creation of indebtedness of the Corporation or upon the issue of any additionalstock, including additional shares of such series or of any other series of this class or of any other class; and 

 

(j) any other powers, preferences and relative, participating, optional and other special rights, and any qualifications, limitations andrestrictions thereof. 

 

The powers, preferences and relative,participating, optional and other special rights of each series of Preferred Stock, and the qualifications, limitations of restrictions thereof, if any, may differ from those of any and all other series at any time outstanding. All shares of anyoneseries of Preferred Stock shall be identical in all respects with all other shares of such series, except that shares of anyone series issued at different times may differ as to the dates from which dividends thereon shall accrue and/or becumulative. 

 

2. Common Stock and Class AStock 

 

(a) *General*. Except ashereinafter expressly set forth in Section 2, and subject to the rights and preferences of the holders of Preferred Stock at any time outstanding, the Class A Stock and the Common Stock, both of which are classes of common stock, shallhave the same rights and privileges and shall rank equally, share ratably and be identical in respects as to all matters, including rights in liquidation. 

 

(b) *Voting Rights*. Except as otherwise expressly provided by law, and subject to any voting rights provided to holders of PreferredStock at any time outstanding, the Common Shares have exclusive voting rights on all matters requiring a vote of the Corporation. 

 

The holders of Common Stock shall be entitled to one vote per share on all matters to be voted on by the stockholders of the Corporation.The holders of Class A Stock shall be entitled to three votes per share on all matters to be voted on by the stockholders of the Corporation. 

 

Except as otherwise provided in this Restated Certificate of Incorporation or as required by law, and subject to any voting rightsprovided to holders of Preferred Stock at any time outstanding, the holders of shares of Class A Stock and the holders of shares of Common Stock shall vote together as one class on all matters submitted to a vote of stockholders of theCorporation. 

 

(c) *Dividends andDistributions*. Subject to the rights of the holders of Preferred Stock, and subject to any other provisions of this Restated Certificate of Incorporation, as it may be amended from time to time, holders of Class A Stock and holders ofCommon Stock shall be entitled to receive such dividends and other distributions in cash, in property or in shares of the Corporation as may be declared thereon by the Board of Directors from time to time out of assets or funds of the Corporationlegally available therefor; *provided*, *however*, that no cash, property or share dividend or distribution may be declared or paid on the outstanding shares of either the Class A Stock or the Common Stock unless an identical pershare dividend or distribution is simultaneously declared and paid on the outstanding shares of the other such class of common stock; *provided*, *further*, however, that a dividend of shares may be declared and paid in Class A Stockto holders of Class A Stock and in Common Stock to holders of Common Stock if the number of shares paid per share to holders of Class A Stock and to holders of Common Stock shall be the same. If the Corporation shall in any mannersubdivide, combine or reclassify the outstanding shares of Class A Stock or Common Stock, the outstanding shares of the other such class of common stock shall be subdivided, combined or 

reclassified proportionately in the same manner and on the same basis as the outstanding shares of Class A Stock or Common Stock, as the case may be,have been subdivided, combined or reclassified. 

 

(d) *Optional Conversion*. 

 

(1)The shares of Common Stock are not convertible into or exchangeable for shares of Class A Stock or any other shares or securities of the Corporation. 

 

(2) Each share of Class A Stock may be converted, at any time and at the option of the holder thereof, into one fully paid andnonassessable share of Common Stock. 

 

(e)*Mandatory Conversion*. 

 

(1) Upon aTransfer by a Holder, other than to a “Permitted Transferee” of such Holder, shares of Class A Stock so transferred shall, effective on the date of such Transfer, be automatically converted, without further act on anyone’s part,into an equal number of shares of Common Stock, and the stock certificates formerly representing such shares of Class A Stock shall thereupon and thereafter be deemed to represent the like number of shares of Common Stock. 

 

(2) For purposes of this Section 2(e): 

 

A “Permitted Transferee” of a Holder shall mean,the following: 

 

(i) In the case of anyHolder, the Corporation or any one or more of its directly or indirectly wholly owned subsidiaries; 

 

(ii) In the case of a Holder who is a natural person: 

 

(A) The spouse of such Holder (the “Spouse”), any lineal ancestor of such Holder or of theSpouse, and any person who is a lineal descendant of a grandparent of such Holder or of the Spouse, or a spouse of any such lineal descendent or such lineal ancestor (collectively, the “Family Members”); 

 

(B) A trust (including a voting trust) exclusively for thebenefit of one or more of (x) such Holder, (y) one or more of his or her Family Members or (z) an organization to which contributions are deductible under 501(c)(3) of the Internal Revenue Code of 1986, as amended, or any successorprovision (the “Internal Revenue Code”) or for estate or gift tax purposes (a “Charitable Organization”); *provided* that such trust may include a general or special power of appointment for such Holder or Family Members (a“Trust”); *provided*, *further*, that if by reason of any change in the beneficiaries of such Trust, such Trust would not have qualified, at the time of the Transfer of Class A Stock to such Trust (for purposes of thissub-paragraph (B), the “Transfer Date”), as a Permitted Transferee, all shares of Class A Stock so transferred to such Trust shall, effective on the date of such change of beneficiary, be automatically converted, without further acton anyone’s part, into an equal number of shares of Common Stock, and the stock certificates formerly representing such shares of Class A Stock shall thereupon and thereafter be deemed to represent the like number of shares of CommonStock; 

 

(C) A Charitable Organizationestablished solely by one or more of such Holder or a Family Member; 

 

(D) An Individual Retirement Account, as defined in Section 408(a) of the Internal Revenue Code, of which such Holder is a participant or beneficiary, provided that such Holder has the power to direct theinvestment of funds deposited into such Individual Retirement Account and to control the voting of securities held by such Individual Retirement Account (an “IRA”); 

 

(E) A pension, profit sharing, stock bonus or other type of plan or trust of which such Holder is aparticipant or beneficiary and which satisfies the requirements for qualification under Section 401(k) of the Internal Revenue Code, provided that such Holder has the power 

to direct the investment of funds deposited into such plan or trust and to control the voting of securities held by such plan or trust (a “Plan”);

 

(F) Any corporation or partnership directlyor indirectly controlled, individually or as a group, only by such Holder and/or any of his Permitted Transferees as determined under this clause (ii); *provided* that if by reason of any change in the direct or indirect control of suchcorporation or partnership, such corporation or partnership would not have qualified, at the time of the Transfer of Class A Stock to such corporation or partnership, as a Permitted Transferee of such Holder, all shares of Class A Stock sotransferred to such corporation or partnership shall, effective on the date of such direct or indirect change in control, be automatically converted, without further act on anyone’s part, into an equal number of shares of Common Stock, and thestock certificates formerly representing such shares of Class A Stock shall thereupon and thereafter be deemed to represent the like number of shares of Common Stock; and 

 

(G) The estate, executor, executrix or other personal representative, custodian, administrator or guardianof such Holder. 

 

(iii) In the case of aHolder holding the shares of Class A Stock in question as trustee of an IRA, a Plan or a Trust, “Permitted Transferee” means (x) the person who transferred Class A Stock to such IRA, such Plan or such Trust, (y) anyPermitted Transferee of any such person determined pursuant to this Section 2(e) and (z) any successor trustee or trustees in such capacity of such IRA, such Plan or such Trust; 

 

(iv) In the case of a Holder which is a partnership,“Permitted Transferee” means any other person, directly or indirectly controlling, controlled by or under direct or indirect common control with such partnership, *provided* that, if by reason of any change in the direct or indirectcontrol of such person, such person would not have qualified, at the time of the Transfer of the Class A Stock to such person, as a Permitted Transferee of such partnership, all shares of Class A Stock so transferred to such person shall,effective on the date of such direct or indirect change in control, be automatically converted, without further act on anyone’s part, into an equal number of shares of Common Stock, and the stock certificates formerly representing such sharesof Class A Stock shall thereupon and thereafter be deemed to represent the like number of shares of Common Stock; 

 

(v) In the case of a Holder which is a corporation (other than a Charitable Organization) “Permitted Transferee” means anyother person directly or indirectly controlling, controlled by or under direct or indirect common control with such corporation; *provided* that if by reason of any change in the direct or indirect control of such person, such person would nothave qualified, at the time of the Transfer of the Class A Stock to such person, as a Permitted Transferee of such corporation, all shares of Class A Stock so transferred to such person shall, effective on the date of such direct orindirect change in control be automatically converted, without further act on anyone’s part, into an equal number of shares of Common Stock, and the stock certificates formerly representing such shares of Class A Stock shall thereupon andthereafter be deemed to represent the like number of shares of Common Stock; and 

 

(vi) In the case of a Holder which is the estate of a deceased Holder or who is the executor, executrix or other personal representative,custodian or administrator of such Holder, or guardian of a disabled or adjudicated incompetent Holder or which is the estate of a bankrupt or insolvent Holder, which owns the shares of Class A Stock in question, “PermittedTransferee” means a Permitted Transferee of such deceased, or adjudicated incompetent, disabled, bankrupt or insolvent Holder as otherwise determined pursuant to this Section 2(e). 

 

As used in this Section 2(e), the term “control” means thepossession, direct or indirect, of the power to direct or cause the direction of the management and policies of the controlled person or entity. 

 

As used in this Section 2(e), the term “Holder” means any holder of Class A Stock or of the proxy to vote shares of Class AStock. 

As used in this Section 2(e), the term “person” shall mean both natural persons and legalentities, unless otherwise specified. The relationship of any person that is derived by or through legal adoption shall be considered a natural relationship. 

 

Each joint owner of shares or owner of a community property interest in shares of Class A Stock shall be considered a “Holder” of suchshares. A minor for whom shares of Class A Stock are held pursuant to a Uniform Transfer to Minors Act or similar law shall be considered a Holder of such shares. 

 

As used in this Section 2(e), a “Transfer” shall mean any type of transfer of shares of Class A Stock,whether by sale, exchange, gift, operation of law, pledge, or otherwise, and shares of Class A Stock shall refer to either (i) such shares of Class A Stock so transferred, (ii) the power to vote such shares so transferred or(iii) shares of Class A Stock for which the power to vote was so transferred, as the case may be. 

 

(3) Notwithstanding anything to the contrary set forth herein, any Holder may pledge the shares of Class A Stock belonging to suchHolder to a pledgee pursuant to a bona fide pledge of such shares as collateral security for indebtedness due to the pledgee, provided that such pledgee does not have the power to vote such shares and such shares remain subject to the provisions ofthis Section. In the event of foreclosure or other similar action by the pledgee, such shares, at midnight on the thirtieth day after delivery of notice by the Corporation to the pledgor of such foreclosure or other similar action (for purposes ofthis paragraph (3) the “Conversion Time”), shall be automatically converted, without further act on anyone’s part, into an equal number of shares of Common Stock and the stock certificates formerly representing such shares ofClass A Stock shall thereupon and thereafter be deemed to represent the like number of shares of Common Stock; *provided*, *however*, that such automatic conversion of such shares of Class A Stock shall not occur if, prior to theConversion Time, (x) such pledged shares of Class A Stock are transferred to a Permitted Transferee of the pledgor or (y) such foreclosure or other similar action is cancelled or annulled so that the pledgor retains the right to votesuch shares. 

 

(4) A good faith determinationby the Board of Directors of the Corporation (x) that a transferee of shares of Class A Stock is or is not a Permitted Transferee of the transferor of such shares to such transferee on the date of Transfer, or (y) that, by reason ofany change in the direct or indirect control of such transferee subsequent to such Transfer, such person would have or have not qualified at the time of the Transfer of the Class A Stock to such person as a Permitted Transferee shall beconclusive and binding upon all the stockholders of the Corporation. 

 

(5) The Corporation may, as a condition to the transfer or the registration of transfer of shares of Class A Stock to a purported Permitted Transferee, require the furnishing of such affidavits or other proof asit deems necessary to establish that such transferee is a Permitted Transferee. Each certificate representing shares of Class A Stock shall be endorsed with a legend that states that shares of Class A Stock are not transferable other thanto certain transferees and are subject to certain restrictions as set forth in the Restated Certificate of Incorporation of the Corporation filed with the Secretary of the State of Delaware. 

 

(6) This Section 2(e) may not be amended without theaffirmative vote of holders of the majority of the shares of Class A Stock and the affirmative vote of the holders of the majority of the shares of Common Stock, each voting separately as a class. 

 

(f) *Conversion Procedures.*

 

(1) Each conversion of shares pursuant to Section 2(d)hereto will be effected by the surrender of the certificate or certificates, duly endorsed, representing the shares to be converted at the principal office of the transfer agent of the Class A Stock at any time during normal business hours,together with a written notice by the holder stating the number of shares that such holder desires to convert and the names or name in which he wishes the certificate or certificates for the Common Stock to be issued. Such conversion shall be deemedto have been effected as of the close of business on the date on which such certificate or certificates have been surrendered, and at such time, the rights of any such holder with respect to the converted shares of such holder will cease and theperson or persons in whose name 

or names the certificate or certificates for shares are to be issued upon such conversion will be deemed to have become the holder or holders of record ofsuch shares represented thereby. 

 

Promptlyafter such surrender, the Corporation will issue and deliver in accordance with the surrendering holder’s instructions the certificate or certificates for the Common Stock issuable upon such conversion and a certificate representing anyClass A Stock which was represented by the certificate or certificates delivered to the Corporation in connection with such conversion, but which was not converted. 

 

(2) The issuance of certificates upon conversion of shares pursuant to Section 2(d) hereto will be madewithout charge to the holder or holders of such shares for any issuance tax (except stock transfer tax) in respect thereof or other costs incurred by the Corporation in connection therewith. 

 

(3) The Corporation shall at all times reserve and keepavailable out of its authorized but unissued shares of Common Stock or its treasury shares, solely for the purpose of issuance upon the conversion of the Class A Stock, such number of shares of Common Stock as may be issued upon conversion ofall outstanding Class A Stock. 

 

(4)Shares of the Class A Stock surrendered for conversion as above provided or otherwise acquired by the Corporation shall be cancelled according to law and shall not be reissued. 

 

(5) All shares of Common Stock which may be issued upon conversion of shares of Class A Stock will,upon issue, be fully paid and nonassessable. 

 

FIFTH: Thebusiness and affairs of the Corporation shall be managed by or under the direction of a Board of Directors consisting of not less than three (3) and not more than fifteen (15) directors, the exact number of which shall initially be fixedby the Incorporator and thereafter from time to time by the Board of Directors. The directors shall be divided into three classes, designated Class I, Class II and Class III. Each class of directors shall consist, as nearly as may be possible, ofone-third of the total number of directors constituting the entire Board of Directors. The initial term of office of directors of Class I shall expire at the annual meeting of stockholders in 1996; the initial term of office of directors of Class IIshall expire at the annual meeting of stockholders in 1997; and the initial term of office of directors of Class III shall expire at the annual meeting of stockholders in 1998. At each annual meeting of stockholders, beginning with the annualmeeting in 1996, successors to the class of directors whose term expires at such annual meeting shall be elected for a three-year term. If the number of directors is changed, any increase or decrease shall be apportioned among the classes so as tomaintain the number of directors in each class as nearly equal as possible, but in no case will a decrease in the number of directors shorten the term of any incumbent director. A director shall hold office until the annual meeting of stockholdersfor the year in which his or her term expires and until his or her successor shall be elected and shall qualify, subject, however, to prior death or incapacity, resignation, retirement, disqualification or removal from office. 

 

The directors are hereby empowered to exercise all such powers and do allsuch acts and things as may be exercised or done by the Corporation, subject, nevertheless, to the provisions of the GCL, this Restated Certificate of Incorporation, and any By-Laws adopted by the stockholders; provided, however, that no By-Lawshereafter adopted by the stockholders shall invalidate any prior act of the directors which would have been valid if such By-Laws had not been adopted. 

 

Subject to the terms of anyone or more classes or series of Preferred Stock, newly created directorships resulting from any increase in the number ofdirectors and any vacancies in the Board of Directors resulting from death or incapacity, resignation, retirement, disqualification or removal from office may be filled only by the affirmative vote of a majority of the directors then in office,though less than a quorum, or by a sole remaining director, and directors so elected shall hold office for a term expiring at the annual meeting of stockholders at which the term of the class to which they have been elected expires and until theirsuccessors are duly elected and qualified, or until their earlier death or incapacity, resignation, retirement, disqualification or removal from office. 

Subject to the rights, if any, of the holders of shares of Preferred Stock then outstanding, any or allof the directors of the Corporation may be removed from office at any time, but only for cause and only by the affirmative vote of the holders of at least a majority of the voting power of the Corporation’s then outstanding capital stockentitled to vote generally in the election of directors. 

 

SIXTH: No director shall be personally liable to the Corporation or any of its stockholders for monetary damages for any breach of fiduciary duty as a director, except for liability (i) for breach of the director’s duty of loyaltyto the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) pursuant to Section 174 of the GCL or (iv) for any transaction fromwhich the director derived an improper personal benefit. Any alteration, amendment or repeal of this Article SIXTH by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing atthe time of such alteration, amendment or repeal with respect to acts or omissions occurring prior to such alteration, amendment or repeal. 

 

SEVENTH: The Corporation is to have perpetual existence. 

 

EIGHTH: The By-Laws of the Corporation may be altered, amended or repealed in whole or in part, or new By-Laws may be adopted, by the stockholders or bythe affirmative vote of the directors of the Corporation. As used in this Restated Certificate of Incorporation, the term “entire Board of Directors” means the total number of directors which the Corporation would have if there were novacancies. 

 

NINTH: Special meetings of stockholders may becalled by any of (i) the Chairman of the Board of Directors, (ii) the President, (iii) any Vice President, (iv) the Secretary, or (v) any Assistant Secretary, and shall be called by any such officer at the request in writingof a majority of the entire Board of Directors or at the request in writing of stockholders owning a majority of the capital stock of the Corporation issued and outstanding and entitled to vote. 

 

TENTH: The Corporation elects not to be governed by Section 203 of theGCL. 

 

ELEVENTH: The Corporation reserves the right to amend,alter, change or repeal any provision contained in this Restated Certificate of Incorporation, and all rights conferred upon stockholders hereby are granted subject to this reservation. 

 

**IN WITNESS WHEREOF**, the Corporation has caused this RestatedCertificate of Incorporation to be executed on its behalf this 7th day of February, 1996. 

 

IDT CORPORATION
By: /s/    HOWARD S. JONAS          **Howard S. Jonas**  **President and Chief Executive Officer**
 

Attest: 

 
By: /s/    HOWARD S. BALTER          **Howard S. Balter**  **Chief Operating Officer and Assistant Secretary**

CERTIFICATE OF AMENDMENT 

TO THE 

RESTATED CERTIFICATE OF INCORPORATION 

OF 

IDT CORPORATION 

 

(pursuant to Section 242 of the Delaware General Corporation Law) 

 

IDT Corporation, a Delaware corporation, hereby certifies as follows: 

 

1. The name of the corporation is IDT Corporation (hereinafter the“Corporation”). 

 

2. The Corporation’sCertificate of Incorporation was initially filed with the Secretary of State of the State of Delaware on December 22, 1995 and a Restated Certificate of Incorporation was filed on February 7, 1996. 

 

3. The Restated Certificate of Incorporation of the Corporation is herebyamended by deleting the preamble of Article Fourth thereof and replacing it with the following: 

 

“FOURTH: The aggregate number of shares of all classes of capital stock which the Corporation shall have the authority to issue is two hundred andforty five million (245,000,000) shares, consisting of (a) 100,000,000 shares of common stock, par value $0.0l per share (“Common Stock”), (b) 35,000,000 shares of Class A Common Stock, par value $0.01 per share (the“Class A Stock”), (c) 100,000,000 shares of Class B Common Stock, par value $0.01 per share (the “Class B Stock”, and collectively, such Common Stock, Class A Stock and Class B Stock are referred to herein as the“Common Shares”), and (d) 10,000,000 shares of preferred stock, par value $0.01 per share (“Preferred Stock”).” 

 

4. The Restated Certificate of Incorporation of the Corporation is hereby further amended by deleting Sections 1(h), 2(a), 2(b), 2(c), 2(d), 2(e)(6) and2(f) of Article Fourth and replacing them with the following: 

 
 “1.Preferred Stock 
 

(h) the limitations and restrictions, if any, to be effective while any shares of such series are outstanding upon the payments ofdividends or the making of other distributions on, and upon the purchase, redemption or other acquisition by the Corporation of, the Common Stock, the Class A Stock, the Class B Stock or shares of stock of any other class or any other series ofthis class;” 

 
 “2.Common Stock, Class A Stock and Class B Stock 
 

(a) *General*. Except as hereinafter expressly set forth in Section 2, and subject to the rights and preferences of the holdersof Preferred Stock at any time outstanding, the Class A Stock, Class B Stock and the Common Stock, all of which are classes of common stock, shall have the same rights and privileges and shall rank equally, share ratably and be identical inrespects as to all matters, including rights in liquidation. 

 

(b) *Voting Rights*. Except as otherwise provided in this Restated Certificate of Incorporation or as expressly provided by law, and subject to any voting rights provided to holders of Preferred Stock at any timeoutstanding, the Common Shares have exclusive voting rights on all matters requiring a vote of the Corporation. 

 

The holders of Common Stock shall be entitled to one vote per share on all matters to be voted on by the stockholders of the Corporation.The holders of Class A Stock shall be entitled to three votes per share on all matters to be voted on by the stockholders of the Corporation. The holders of Class B Stock shall entitled to one-tenth (1/10) of a vote per share on allmatters to be voted on by the stockholders of the Corporation. 

 

Except as otherwise provided in this Restated Certificate of Incorporation or as required by law, and subject to any voting rights provided to holders of Preferred Stock at any time outstanding, the holders of sharesof Class A Stock, the holders of shares of Class B Stock and the holders of shares of Common Stock shall vote together as one class on all matters submitted to a vote of stockholders of the Corporation. 

(c)(1) *Dividends and Distributions*. Subject to the rights of the holders ofPreferred Stock, and subject to any other provisions of this Restated Certificate of Incorporation, as it may be amended from time to time, holders of Class A Stock, holders of Class B Stock and holders of Common Stock shall be entitled toreceive such dividends and other distributions in cash, in property or in shares of the Corporation as may be declared thereon by the Board of Directors from time to time out of assets or funds of the Corporation legally available therefor;provided, however, that no cash, property or share dividend or distribution may be declared or paid on the outstanding shares of any of the Class A Stock, the Class B Stock or the Common Stock unless an identical per share dividend ordistribution is simultaneously declared and paid on the outstanding shares of the other classes of common stock; provided, further, however, that a dividend of shares may be declared and paid in Class A Stock to holders of Class A Stock,in Class B Stock to holders of Class B Stock and in Common Stock to holders of Common Stock if the number of shares paid per share to holders of Class A Stock, to holders of Class B Stock and to holders of Common Stock shall be the same. If theCorporation shall in any manner subdivide, combine or reclassify the outstanding shares of Class A Stock, Class B Stock or Common Stock, the outstanding shares of the other classes of common stock shall be subdivided, combined or reclassifiedproportionately in the same manner and on the same basis as the outstanding shares of Class A Stock, Class B Stock or Common Stock, as the case may be, have been subdivided, combined or reclassified. 

 

(2) *Consideration in Merger and Similar Transactions*.The Corporation shall not be a party to a merger, consolidation, binding share exchange, recapitalization, reclassification or similar transaction (whether or not the Corporation is the surviving or resulting entity) (an “ExtraordinaryTransaction”), unless the per share consideration, if any, that the holders of Common Stock and Class B Stock receive in connection with such Extraordinary Transaction or are entitled to elect to receive in such Extraordinary Transaction is thesame as the per share consideration that the holders of the other of such classes of common stock are entitled to receive or elect to receive in connection with the Extraordinary Transaction. 

 
 (d)Optional Conversion. 
 

(1) The shares of Common Stock and Class B Stock are not convertible into or exchangeable for shares of Class A Stock. 

 

(2) Each share of Class A Stock may be converted, atany time and at the option of the holder thereof, into one fully paid and nonassessable share of Common Stock. 

 

(3) Each share of Class B Stock may be converted, at any time and at the option of the Corporation, into one fully paid nonassessableshare of Common Stock provided that all shares of Class B Stock are so converted.” 

 
 “(e)Mandatory Conversion. 
 

(6) This Section 2(e) may not be amended without the affirmative vote of holders of the majority of the shares of the Class AStock, the affirmative vote of holders of the majority of the shares of the Class B Stock and the affirmative vote of holders of the majority of the shares of the Common Stock, each voting separately as a class.” 

 
 “(f)Conversion Procedures. 
 

(1) Each conversion of shares pursuant to Section 2(d) hereof will be effected by the surrender of the certificate or certificates,duly endorsed, representing the shares to be converted at the principal office of the transfer agent of the Class A Stock, in the case of conversion pursuant to Section 2(d)(2), or of the Class B Stock, in the case of conversion pursuantto Section 2(d)(3), at any time during normal business hours, together with a written notice by the holder stating the number of shares that such holder desires to convert and the names or name in which he wishes the certificate or certificatesfor the Common Stock to be issued. Such conversion shall be deemed to have been effected as of the close of business on the date on which such certificate or certificates have been surrendered, and at such time, the rights of any such holder withrespect to the converted shares of such holder will cease 

and the person or persons in whose name or names the certificate or certificates for shares are to be issued upon such conversion will be deemed to havebecome the holder or holders of record of such shares represented thereby. 

 

Promptly after such surrender, the Corporation will issue and deliver in accordance with the surrendering holder’s instructions the certificate or certificates for the Common Stock issuable upon such conversionand a certificate representing any Class A Stock, in the case of conversion pursuant to Section 2(d)(2) which was represented by the certificate or certificates delivered to the Corporation in connection with such conversion, but which wasnot converted. 

 

(2) The issuance ofcertificates upon conversion of shares pursuant to Section 2(d) hereto will be made without charge to the holder or holders of such shares for any issuance tax (except stock transfer tax) in respect thereof or other costs incurred by theCorporation in connection therewith. 

 

(3) TheCorporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock or its treasury shares, solely for the purpose of issuance upon the conversion of the Class A Stock and the Class B Stock, suchnumber of shares of Common Stock as may be issued upon conversion of all outstanding Class A Stock and the Class B Stock. 

 

(4) Shares of the Class A Stock and Class B Stock surrendered for conversion as above provided or otherwise acquired by theCorporation shall be canceled according to law and shall not be reissued. 

 

(5) All shares of Common Stock which may be issued upon conversion of shares of Class A Stock and Class B Stock will, upon issue, be fully paid and nonassessable.” 

 

5. The Restated Certificate of Incorporation of the Corporation is herebyfurther amended by deleting the first sentence to Article Fifth and replacing it with the following: 

 

“FIFTH: The business and affairs of the Corporation shall be managed by or under the direction of a Board of Directors consisting ofnot less than three (3) and not more than seventeen (17) directors, the exact number of which shall be fixed from time to time by the Board of Directors.” 

 

IN WITNESS WHEREOF, the Corporation has caused this Certificate ofAmendment to be executed on its behalf this 3rd day of July, 2000. 

 

IDT CORPORATION
By: /s/    JOYCE J. MASON        Name: **Joyce J. Mason**Title: **Secretary and Senior Vice President**

CERTIFICATE OF AMENDMENT 

TO THE 

RESTATED CERTIFICATE OF INCORPORATION 

OF 

IDT CORPORATION 

 

(pursuant to Section 242 of the Delaware General Corporation Law) 

 

IDT Corporation, a Delaware corporation, hereby certifies as follows: 

 

1. The name of the corporation is IDT Corporation (hereinafter the“Corporation”). 

 

2. The Corporation’sCertificate of Incorporation was initially filed with the Secretary of State of the State of Delaware on December 22, 1995 and a Restated Certificate of Incorporation was filed on February 7, 1996, and an amendment to the RestatedCertificate was filed on July 3, 2000. 

 

3. The RestatedCertificate of Incorporation of the Corporation is hereby further amended by deleting Article Fifth thereof and replacing it with the following: 

 

“FIFTH: The business and affairs of the Corporation shall be managed by or under the direction of a Board of Directors consisting of not less thanthree (3) and not more than seventeen (17) directors, the exact number of which shall be fixed from time to time by the Board of Directors. 

 

A director shall hold office until the next occurring annual meeting of stockholders following his or her election and until his or her successor shall beelected and shall qualify, subject, however, to prior death or incapacity, resignation, retirement, disqualification or removal from office. 

 

The directors are hereby empowered to exercise all such powers and do all such acts and things as may be exercised or done by the Corporation, subject,nevertheless, to the provisions of the GCL, this Restated Certificate of Incorporation, and any By-Laws adopted by the stockholders; provided, however, that no By-Laws hereafter adopted by the stockholders shall invalidate any prior act of thedirectors which would have been valid if such By-Laws had not been adopted. 

 

Subject to the terms of any one or more classes or series of Preferred Stock, newly created directorships resulting from any increase in the number of directors and any vacancies in the Board of Directors resultingfrom death or incapacity, resignation, retirement, disqualification or removal from office may be filled only by the affirmative vote of a majority of the directors then in office, though less than a quorum, or by a sole remaining director, anddirectors so elected shall hold office until the next occurring annual meeting of stockholders following appointment and until their successors are duly elected and qualified, or until their earlier death or incapacity, resignation, retirement,disqualification or removal from office.” 

 

4. Theforegoing amendment was duly approved by the Board of Directors and recommended to be adopted by the stockholders of the Corporation in accordance with Section 242 of the Delaware General Corporation Law, and was adopted by the written consentof the majority stockholder in accordance with Section 228 of the Delaware General Corporation Law. 

 

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be executed on its behalf this 18th day of April, 2006. 

 
IDT CORPORATIONBy: /s/    JOYCE J. MASON        Name: **Joyce J. Mason**Title: **Secretary and Senior Vice President**

CERTIFICATE OF AMENDMENT 

TO THE 

RESTATED CERTIFICATE OF INCORPORATION 

OF 

IDT CORPORATION 

 

(pursuant to Section 242 of the Delaware General Corporation Law) 

 

IDT Corporation, a Delaware corporation, hereby certifies as follows: 

 

1. The name of the corporation is IDT Corporation (hereinafter the“Corporation”). 

 

2. The Corporation’sCertificate of Incorporation was initially filed with the Secretary of State of the State of Delaware on December 22, 1995, a Restated Certificate of Incorporation was filed on February 7, 1996, and amendments were filed to the RestatedCertificate of Incorporation July 3, 2000 and April 18, 2006. 

 

3. The Restated Certificate of Incorporation of the Corporation, as amended is hereby amended by deleting the preamble of Article Fourth thereof and replacing it with the following: 

 

“FOURTH: The aggregate number of shares of all classes of capital stockwhich the Corporation shall have the authority to issue is three hundred and forty five million (345,000,000) shares, consisting of (a) 100,000,000 shares of common stock, par value $0.0l per share (“Common Stock”),(b) 35,000,000 shares of Class A Common Stock, par value $0.01 per share (the “Class A Stock”), (c) 200,000,000 shares of Class B Common Stock, par value $0.01 per share (the “Class B Stock”, and collectively, suchCommon Stock, Class A Stock and Class B Stock are referred to herein as the “Common Shares”), and (d) 10,000,000 shares of preferred stock, par value $0.01 per share (“Preferred Stock”).” 

 

4. The foregoing amendment was duly approved by the Board of Directors andrecommended to be adopted by the stockholders of the Corporation in accordance with Section 242 of the Delaware General Corporation Law, and was adopted by the written consent of the majority stockholder in accordance with Section 228 ofthe Delaware General Corporation Law. 

 

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be executed on its behalf this 14th day of December 2006. 

 
IDT CORPORATION
By:
 
/s/    JOYCE J. MASON        
Name: **Joyce J. Mason**Title: **Corporate Secretary and Executive Vice President**