Document:

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                                                                    EXHIBIT 10.2

                                   MEMORANDUM

FROM: Stephen Greenberg

TO: Bruce D. Shoulson

RE: Employment Agreement

Dated: December 10, 2002

         This is to confirm that, with the approval the Board of Directors, this
Memorandum shall serve to amend your Employment Agreement dated January 8, 2001
as follows:

         1.       Effective January 1, 2003, your annual base salary shall be
                  increased to $260,000.00.

         2.       In the event of the termination of your employment for any
                  reason, other than cause or your resignation without cause,
                  you and your eligible dependents shall continue to receive all
                  Welfare Benefits provided for in your Employment Agreement
                  until at least August 12, 2005.

         3.       In the event of the termination of your employment for any
                  reason, other than cause or your resignation without cause,
                  the period during which your options shall be exercisable
                  shall be extended until the fourth anniversary date of
                  termination.

         4.       You shall report directly to the Chief Executive Officer of
                  the Company.

         For purposes of this Agreement, your failure to agree to or the
Company's failure to offer the extension of the term of your employment shall
not be deemed to be a termination for "cause" or a "resignation without cause".

         Except as specifically provided for herein, the terms of your
Employment Agreement of January 8, 2001 are hereby ratified and confirmed and
remain in full force and effect.

                                          Net2Phone, Inc.

                                          By: /s/ Stephen M. Greenberg
                                             ------------------------------
                                          Stephen M. Greenberg, CEO

         Agreed:
         /s/ Bruce D. Shoulson
         --------------------------
         Bruce D. ShoulsonMEMORANDUM

From:  Stephen M. Greenberg

To:  Glenn Williams

Re:  Amendment to Employment Agreement

Dated:  December 20, 2002

         This is to confirm to you that, effective January 1, 2003, your
existing Employment Agreement ("Agreement") with Net2Phone, Inc, is hereby
amended as follows:

         1.       The term of the Agreement shall expire December 31, 2005.

         2.       Your Base Salary shall be $195,000.00 per annum, subject to
                  such increases as the Board of Directors or its Compensation
                  Committee may approve from time to time.

         3.       You shall report directly to the Chief Executive Officer of
                  the Company.

         4.       Upon termination of your Employment Agreement for any reason,
                  except for termination by the Company for Cause or termination
                  by you without Cause, all vested Options to purchase shares of
                  the Company's Common Stock held by you on the date of
                  termination shall be exercisable until the 10th anniversary
                  dates of their respective grants.

         Except as specifically otherwise provided for herein, the terms and
conditions of your existing Agreement are hereby ratified and confirmed and
remain in full force and effect.

   Net2Phone, Inc.                                 Accepted and Agreed

   By: /s/ Stephen M. Greenberg                    /s/  Glenn Williams
      ----------------------------                 ------------------------
      Stephen M. Greenberg, CEO                    Glenn Williams<PAGE>

                                                                    EXHIBIT 10.9

HQ Global Workplaces

Client:                             TheMacReport.Net
Center:                             Broadhollow
Address:                            200 Broadhollow Road, Suite 207
Address:
City, State and Zip:                Melville, NY  11747
Email Address:                      Claudia.Amico@hq.com
Phone:                              631-393-5000
Contact Name:                       V. William Lucchetti, Jr.
Fax:                                631-673-0631
Contact Name:
Billing Address (if different from above):
Type of Business or Service:
Persons authorized to charge to account:
Referring Broker:
Real Estate Company Name:
Real Estate Company Address:
Program:                            Full Office Program
Number of Offices:                  4
Office Numbers:                     127, 143, 144, and 156

Initial Term:                       6 months

Fixed Monthly Fees:                 Monthly Rent: $4,849.00
                                    Tele Answering: $200.00
                                    Tel Lines/Equip: $860.00
                                    Add'l Voicemail: $50.00
                                    Fax Line: $50.00

Refundable Retainer:                Refundable Retainer: 4390.00 on file.
                                    $600.00 additional security deposit to
                                    be paid by January 5, 2003

Fixed Fee Payment Date:    1st of Month
Service Fee Payment Date:
Start Date:                January 1, 2003

This agreement will automatically renew for the same period of time as the
initial term at the then current rates for the offices and/or services.

If I have less than three (3) offices, I will give sixty (60) days written
notice to cancel my renewal.

If I have three (3) or more offices, I will give ninety (90) days written notice
to cancel my renewal.

I have read and understand the terms and conditions on the reverse side and I
agree to be bound by those terms and conditions.

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TERMS AND CONDITIONS

1. OFFICE ACCESS. As a client you have a license to use the office(s) assigned
to you. You also have shared use of common areas in the center. Your office
comes with standard office furniture. You have access to your office(s)
twenty-four (24) hours a day, seven (7) days a week. Our building provides
office cleaning, maintenance services, electric heating and air conditioning to
the center during normal business hours as determined by the landlord for the
building.

                  We reserve the right to relocate you to another office in the
center from time to time. If we exercise this right it will only be to an office
of equal or larger size and configuration. This relocation is at our expense.

                  We reserve the right to show the office(s) to prospective
clients and will use reasonable efforts not to disrupt your business.

2. SERVICES. In addition to your office, we provide you with certain services on
an as requested basis. The fee schedule for these services is available upon
request. The fees are charged to your account and are payable on the service fee
payment date listed on the reverse side of this agreement. You agree to pay all
charges authorized by you or your employees. The fee schedule is updated from
time to time.

                  HQ Global Workplaces (HQ) and vendors designated by HQ are the
only service providers authorized to provide services in the center. You agree
that neither you nor your employees will solicit other clients of the center to
provide any service provided by HQ or its designated vendors, or otherwise.

                  In the event you default on your obligations under this
agreement, you agree that HQ may cease to provide any and all services including
telephone services without resort to legal process.

3. PAYMENTS. You agree to pay the fixed and additional service fees and all
applicable sales or use taxes on the payment dates listed on the reverse side of
this agreement. If you dispute any portion of the charges on your bill, you
agree to pay the undisputed portion on the designated payment date. You agree
that charges must be disputed within ninety (90) days or you waive your right to
dispute such charges. You may be charged a late fee for any late payments.

                  When you sign this agreement you are required to pay your
fixed fee, set up fees and a refundable retainer. The refundable retainer will
not be kept in a separate account from other funds of HQ and no interest will be
paid to you on this amount. The refundable retainer may be applied to
outstanding charges at any time at our discretion. We have the right to require
that you replace retainer funds that we apply to your charges. At the end of the
term of this agreement, if you have satisfied all of your payment obligations,
we will refund you this retainer within forty-five (45) days.

4. OUR LIMITATION OF LIABILITY. You acknowledge that due to the imperfect nature
of verbal, written and electronic communications, neither HQ nor HQ's landlord
or any of their respective officers, directors, employees, shareholders,
partners, agents or representatives shall be responsible for damages, direct or
consequential, that may result from the failure of HQ to furnish any service,
including but not limited to the service

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of conveying messages, communications and other utility or services. Your sole
remedy and HQ's sole obligation for any failure to render any service, any error
or omission, or any delay or interruption of any service, is limited to an
adjustment to your bill in an amount equal to the charge for such service for
the period during which the failure, delay or interruption continues.

                  WITH THE SOLE EXCEPTION OF THE REMEDY DESCRIBED ABOVE, CLIENT
EXPRESSLY AND SPECIFICALLY AGREES TO WAIVE, AND AGREES NOT TO MAKE, ANY CLAIM
FOR DAMAGES, DIRECT OR CONSEQUENTIAL, INCLUDING WITH RESPECT TO LOST BUSINESS OR
PROFITS, ARISING OUT OF ANY FAILURE TO FURNISH ANY SERVICE, ANY ERROR OR
OMISSION WITH RESPECT THERETO, OR ANY DELAY OR INTERRUPTION OF SERVICES. HQ
DISCLAIMS ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

5. LICENSE AGREEMENT. THIS AGREEMENT IS NOT A LEASE OR ANY OTHER INTEREST IN
REAL PROPERTY. IT IS A CONTRACTUAL ARRANGEMENT THAT CREATES A REVOCABLE LICENSE.
We retain legal possession and control of the center and the office assigned to
you. Our obligation to provide you space and services is subject to the terms of
our lease with the building. This agreement terminates simultaneously with the
termination of our lease or the termination of the operation of our center for
any reason. As our client you do not have any rights under our lease with our
landlord. When this agreement is terminated because the term has expired or
otherwise, your license to occupy the center is revoked. You agree to remove
your personal property and leave the office as of the date of termination. We
are not responsible for property left in the office after termination.

6. DAMAGES AND INSURANCE. You are responsible for any damage you cause to the
center or your office(s) beyond normal wear and tear. We have the right to
inspect the condition of the office from time to time and make any necessary
repairs.

                  You are responsible for insuring your personal property
against all risks. You have the risk of loss with respect to any of your
personal property. You agree to waive any right of recovery against HQ, its
directors, officers and employees for any damage or loss to your property under
your control. All property in your office(s) is understood to be under your
control.

7. DEFAULT. You are in default under this agreement if; 1) you fail to abide by
the rules and regulations of the center, a copy of which has been provided to
you; 2) you do not pay your fees on the designated payment date and after
written notice of this failure to pay you do not pay within five (5) days; and
3) you do not comply with the terms of this agreement. If the default is
unrelated to payment you will be given written notice of the default and you
will have ten (10) days to correct the default.

8. TERMINATION. You have the right to terminate this agreement early; 1) if your
mail or telecommunications service or access to the office(s) is cut for a
period of ten (10) concurrent business days; 2) in accordance with a negotiated
buy out agreement; or 3) in connection with a transfer to another center in the
HQ network.

<PAGE>

                  HQ has the right to terminate this agreement early; 1) if you
fail to correct a default or the default cannot be corrected; 2) without
opportunity to cure if you repeatedly default under the agreement; or 3) if you
use the center for any illegal operations or purposes.

9. RESTRICTION ON HIRING. Our employees are an essential part of our ability to
deliver our services. You acknowledge this and agree that, during the term of
your agreement and for six (6) months afterward, you will not hire any of our
employees. If you do hire one of our employees, you agree that actual damages
would be difficult to determine and therefore you agree to pay liquidated
damages in the amount of one-half of the annual base salary of the employee you
hire. You agree that this liquidated damage amount is fair and reasonable.

10. MISCELLANEOUS.
A. All notices are to be in writing and may be given by registered or certified
mail, postage prepaid, overnight mail service or hand delivered with proof of
delivery, addressed to HQ or client at the address listed on the reverse side of
this agreement.

B. You acknowledge that HQ will comply with the U.S. Postal Service regulations
regarding client mail. Upon termination of this agreement, you must notify all
parties with whom you do business of your change of address. You agree not to
file a change of address form with the postal service. Filing of a change of
address form may forward all mail addressed to the center to your new address.
In addition, all telephone and facsimile numbers and IP addresses are the
property of HQ. These numbers will not be transferred to you at the end of the
term. For a period of thirty (30) days after the expiration of this agreement,
HQ will provide your new telephone number and address to all incoming callers
and will hold or forward your mail, packages, and facsimiles at no cost to you.
After thirty days (30) you may request the continuation of this service at your
cost. Business Access clients must pay for the additional five (5) months of
mail forwarding required by the USPS regulations.

C. In the event a dispute arises under this agreement you agree to submit the
dispute to mediation. If mediation does not resolve the dispute, you agree that
the matter will be submitted to arbitration pursuant to the procedure
established by the American Arbitration Association in the metropolitan area in
which the center is located. The decision of the arbitrator will be binding on
the parties. The non-prevailing party as determined by the arbitrator shall pay
the prevailing parties attorney's fees and costs of the arbitration.
Furthermore, if a court decision prevents or HQ elects not to submit this matter
to arbitration, then the non-prevailing party as determined by the court shall
pay the prevailing parties reasonable attorney's fees and costs. Nothing in this
paragraph will prohibit HQ from seeking equitable relief including without
limitation any action for removal of the client from the center after the
license has been terminated or revoked.

D. This agreement is governed by the laws of the state in which the center is
located.

E. Client may not assign this agreement without HQ's prior written consent,
which will not be unreasonably withheld.

F. This agreement is the entire agreement between you and HQ. It supercedes all
prior agreements.

<PAGE>

HQ Global Workplaces, Inc.

By:      /s/
         ----------------------------------------------
         Authorized Signature

                                            1/17/2003
         -------------------------------    -----------
         Print Name                         Date

         Its:
         ----------------------------------------------

         CLIENT:

By:      /s/
         ----------------------------------------------
         Authorized Signature

         V. William Lucchetti, Jr.
         Print Name                               Date

Its:     CEO

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