Document:

Form of Stock Option Agreement

Exhibit 4.3 
 
FORM OF 
IDT CORPORATION 
STOCK OPTION AGREEMENT 
CLASS B COMMON STOCK 
 
This STOCK OPTION AGREEMENT (this “Agreement”) is entered into as of
                , 2002, by and between IDT Corporation, a Delaware corporation (the “Company”), and «FIRST_NAME» «LAST_NAME»
(the “Employee”). 
 
WHEREAS, the Company
desires to grant to the Employee options to acquire an aggregate of «OPTIONS» shares of Class B Common Stock of the Company, par value $.01 per share (the “Stock”), on the terms set forth herein. 
 
NOW, THEREFORE, the parties hereby agree as follows:

 
1. Definitions. Capitalized terms are
defined herein. 
 
2. Grant of Options. The
Employee is hereby granted stock options (the “Options”) to purchase an aggregate of «OPTIONS» shares of Stock, pursuant to the terms of this Agreement. 
 
3. Term. The term of the Options (the “Option Term”) shall be for ten (10) years commencing
on September 6, 2002 and terminating on September 5, 2012. 
 
4. Option Price. The initial exercise price per share of the Options shall be $            , subject to adjustment as provided herein. 
 
5. Conditions to Exercisability. The Options shall vest
and become exercisable on the later of the following dates, «VESTING», known as the vesting dates, if the Employee continues to be employed by or acts as a Consultant to or a Director of the Company or any of its subsidiaries on such
date. 
 
6. Method of Exercise. An Option
may be exercised, as to any or all full shares of Class B Common Stock as to which the Option has become exercisable, by written notice delivered in person or by mail to the Company’s transfer agent or other administrator designated by the
Company, specifying the number of shares of Class B Common Stock with respect to which the Option is being exercised. 
 
7. Medium and Time of Payment. The Option Price shall be paid in full, at the time of exercise, in cash or in shares of Class B
Common Stock (whether then owned by the Employee or issuable upon exercise of the Option) having a Fair Market Value equal to such Option Price or in a combination of cash and Class B Common Stock, including a cashless exercise procedure through a
broker-dealer. 
 
8. Termination. Except as
provided in this Section 8 and in Section 9 hereof, an Option may not be exercised unless the Employee is then in the employ of or maintaining a director or consultant relationship with the Company or a Subsidiary thereof (or a company or a Parent
or Subsidiary of such company issuing or assuming the Option in a transaction to which Section 424(a) of the Code applies), and unless the Employee has remained continuously so employed or in the director or consultant relationship since the date of
grant of the Option. In the event that the employment or consultant relationship of a Employee shall terminate (other than by reason of death, Disability or Retirement), all Options of such Employee that are exercisable at the time of
Employee’s termination may, unless earlier terminated in accordance with their terms, be exercised within one hundred eighty (180) days after the date of such termination (or such different period as the Compensation Committee of the Company
(the “Committee”) shall prescribe). 
 
9.
Death, Disability or Retirement of Employee. If the Employee shall die while employed by, or maintaining a director or consultant relationship with, the Company or a Subsidiary thereof, or within thirty (30) days after the 

date of termination of such Employee’s employment, director or consultant relationship (or within such different period as the Committee
may have provided pursuant to Section 8 hereof), or if the Employee’s employment, director or consultant relationship shall terminate by reason of Disability, all Options theretofore granted to the Employee (to the extent otherwise exercisable)
may, unless earlier terminated in accordance with their terms, be exercised by the Employee or by the Employee’s estate or by a person who acquired the right to exercise such Options by bequest or inheritance or otherwise by result of death or
Disability of the Employee, at any time within 180 days after the death or Disability of the Employee (or such different period as the Committee shall prescribe). In the event that an Option granted hereunder shall be exercised by the legal
representatives of a deceased or former Employee, written notice of such exercise shall be accompanied by a certified copy of letters testamentary or equivalent proof of the right of such legal representative to exercise such Option. In the event
that the employment or consultant relationship of a Employee shall terminate on account of such Employee’s Retirement, all Options of the Employee that are exercisable at the time of such Retirement may, unless earlier terminated in accordance
with their terms, be exercised at any time within one hundred eighty (180) days after the date of such Retirement (or such different period as the Committee shall prescribe). 
 
10. Withholding Taxes. No later than the date of exercise of an Option, the Employee will pay to the
Company or make arrangements satisfactory to the Company regarding payment of any federal, state or local taxes of any kind required by law to be withheld upon the exercise of an Option. Alternatively, solely to the extent permitted or required by
law, the Company may deduct the amount of any federal, state or local taxes of any kind required by law to be withheld upon the exercise of an Option from any payment of any kind due to the Employee. The withholding obligation may be satisfied by
the withholding or delivery of the Stock. 
 
11.
Terms Incorporated by Reference Herein. Each of the terms of the Company’s 1996 Stock Option and Incentive Plan, as Amended and Restated (“Plan”), as in effect as of the date hereof, shall be deemed to govern the Options
granted hereunder, as if the Options had been granted pursuant to the Plan. To the extent that there is any inconsistency between this Agreement and the terms of the Plan, the terms of this Agreement shall govern. 
 
12. Transferability of Options. Stock Options may not
be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than to an immediate family member of Employee or to a trust or other estate planning entity created for the benefit of the Employee or one or more members of
his immediate family as provided for under the Plan, provided that, in all cases, such transferee executes a written consent to be bound by the terms of this Agreement and that written evidence of the transfer as well as the written consent of the
transferee is provided to the Compensation Committee, care of Joyce Mason, General Counsel and Secretary of the Company, within thirty (30) days of the transfer. 
 
13. Entire Agreement. This Agreement contains all of the understandings between the parties hereto
pertaining to the matters referred to herein, and supersedes all undertakings and agreements, whether oral or in writing, previously entered into by them with respect thereto. The Employee represents that, in executing this Agreement, he does not
rely and has not relied upon any representation or statement not set forth herein made by the Company with regard to the subject matter of this Agreement or otherwise. 
 
14. Amendment or Modification, Waiver. No provision of this Agreement may be amended or waived unless
such amendment or waiver is agreed to in writing, signed by the Employee and by a duly authorized officer of the Company. No waiver by any party hereto of any breach by another party hereto of any condition or provision of this Agreement to be
performed by such other party shall be deemed a waiver of a similar of dissimilar condition or provision at the same time, any prior time or any subsequent time. 
 
15. Notices. Each notice relating to this Agreement shall be in writing and delivered in person or by
certified mail to the proper address. All notices to the Company shall be addressed to it at: 

IDT Corporation 
520 Broad Street 
Newark, New Jersey 07102 

	 	Attention:	Shari Gordon 

	 	    	Options Administrator 

 
All notices to the Employee or other person or persons then entitled to exercise the Options shall be addressed to the Employee or such
other person or persons at: 
 

	                                      
                                        
                                        
                     

	                                      
                                        
                                        
                     

	                                      
                                        
                                        
                     

	                                      
                                        
                                        
                     

 
Anyone
to whom a notice may be given under this Agreement may designate a new address by notice to such effect. 
 
16. Severability. If any provision of this Agreement or the application of any such provision to any party or circumstances shall
be determined by any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of this Agreement or the application of such provision to such person or circumstances other than those to which it is so determined to
be invalid and unenforceable, shall not be affected thereby, and each provision hereof shall be validated and shall be enforced to the fullest extent permitted by law. 
 
17. Governing Law. This Agreement shall be construed and governed in accordance with the laws of the
state of Delaware, without regard to principles of conflicts of laws. 
 
18. Headings. All descriptive headings of sections and paragraphs in this Agreement are intended solely for convenience, and no provision of this Agreement is to be construed by reference to the heading of any section
or paragraph. 
 
19. Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed to be an original but both of which together shall constitute one and the same instrument. 
 
IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by an authorized
officer and the Employee has hereunto set his hand all as of the date first above written. 
 

	 IDT Corporation

	
	 By:
	 	  

	 	 	 Name: Stephen R. Brown

	 	 	 Title: Chief Financial Officer

	 	 	 
	 By:
	 	  

	 	 	 Employee: «FIRST_NAME»«LAST_NAME»

	 	 	 Telephone:

 
Schedule to
Exhibit 4.3 
 
Attached to this Schedule is a
Form of Stock Option Agreement by and between IDT Corporation and each of the optionees listed in note (6) to the “Calculation of Registration Fee” table in the Registration Statement to which this Schedule and Exhibit are attached. The
executed Stock Option Agreements are substantially identical to the Form of Stock Option Agreement attached to this Schedule except as to the dates of execution, the names of the optionees, the optionees’ respective addresses, the number of
shares of Class B Common Stock of IDT Corporation underlying the options reflected thereby, the exercise prices of such options and the vesting periods applicable to such options. The number of shares of Class B Common Stock underlying such options
ranges from 8,000 to 100,000, the exercise price is $14.45 for each option granted on September 6, 2002 and $14.95 for each option granted on January 3, 2003 and the options vest in tranches over three years. Set forth below are the dates of
execution (grant dates), number of shares of Class B Common Stock underlying the options, option exercise prices and vesting periods with respect to such Option Agreements entered into with executive officers of IDT Corporation: 
 

	 Name of Optionee

	  	 Date of
 Stock
 Option
 Agreement

	    	 Number of Shares of Class B
 Common Stock of IDT Corporation Issuable Upon Exercise of Option

	  	 Exercise
 Price

	  	 Vesting

	 Stephen R. Brown
	  	 9/6/02
	    	 100,000
	  	 $
	 14.45
	  	 35,000 on 10/01/2003; 35,000 on 10/01/2004; and 30,000 on 10/01/2005

	 	  	 1/3/03
	    	 100,000
	  	 $
	 14.95
	  	 16,666 on 07/01/2003; 16,666 on 01/01/2004; 16,666 on
 07/01/2004; 16,666 on
 01/01/2005; 16,666 on
 07/01/2005; and 16,670 on 01/01/2006

	
	 James A. Courter
	  	 9/6/02
	    	 100,000
	  	 $
	 14.45
	  	 35,000 on 10/01/2003; 35,000 on 10/01/2004; and 30,000 on 10/01/2005

	 	  	 1/3/03
	    	 100,000
	  	 $
	 14.95
	  	 16,666 on 07/01/2003; 16,666 on 01/01/2004; 16,666 on
 07/01/2004; 16,666 on
 01/01/2005; 16,666 on
 07/01/2005; and 16,670 on 01/01/2006

	
	 E. Brian Finkelstein
	  	 9/6/02
	    	 75,000
	  	 $
	 14.45
	  	 25,000 on 10/01/2003; 25,000 on 10/01/2004; and 25,000 on 10/01/2005

	 	  	 1/3/03
	    	 75,000
	  	 $
	 14.95
	  	 12,500 on 07/01/2003; 12,500 on 01/01/2004; 12,500 on
 07/01/2004; 12,500 on
 01/01/2005; 12,500 on
 07/01/2005; and 12,500 on 01/01/2006

	
	 Michael Fischberger
	  	 9/6/02
	    	 100,000
	  	 $
	 14.45
	  	 35,000 on 10/1/03; 35,000 on 10/1/04; and 30,000 on 10/1/05

	 	  	 1/3/03
	    	 100,000
	  	 $
	 14.95
	  	 16,666 on 07/01/2003; 16,666 on 01/01/2004; 16,666 on
 07/01/2004; 16,666 on
 01/01/2005; 16,666 on
 07/01/2005; and 16,670 on
 01/01/2006

	 Name of Optionee

	  	 Date of
 Stock
 Option
 Agreement

	    	 Number of Shares
 of Class B
 Common Stock of
 IDT Corporation Issuable Upon Exercise of Option

	  	 Exercise
 Price

	  	 Vesting

	 Marcelo Fischer
	  	 9/6/02
	    	 65,000
	  	 $
	 14.45
	  	 25,000 on 10/1/03; 20,000 on
 10/1/04; and 20,000 on 10/1/05

	 	  	 1/3/03
	    	 65,000
	  	 $
	 14.95
	  	 10,833 on 07/01/2003; 10,833 on
 01/01/2004; 10,833 on
 07/01/2004; 10,833 on
 01/01/2005; 10,833 on
 07/01/2005; and 10,835 on
 01/01/2006

	
	 Ira A. Greenstein
	  	 9/6/02
	    	 100,000
	  	 $
	 14.45
	  	 35,000 on 10/1/03, 35,000 on
 10/1/04; and 30,000 on 10/1/05

	 	  	 1/3/03
	    	 100,000
	  	 $
	 14.95
	  	 16,666 on 07/01/2003; 16,666 on
 01/01/2004; 16,666 on
 07/01/2004; 16,666 on
 01/01/2005; 16,666 on
 07/01/2005; and 16,670 on
 01/01/2006

	
	 Moshe Kaganoff
	  	 9/6/02
	    	 100,000
	  	 $
	 14.45
	  	 35,000 on 10/1/03; 35,000 on
 10/1/04; and 30,000 on 10/1/05

	 	  	 1/3/03
	    	 100,000
	  	 $
	 14.95
	  	 16,666 on 07/01/2003; 16,666 on
 01/01/2004; 16,666 on
 07/01/2004; 16,666 on
 01/01/2005; 16,666 on
 07/01/2005; and 16,670 on
 01/01/2006

	
	 Marc E. Knoller
	  	 9/6/02
	    	 75,000
	  	 $
	 14.45
	  	 25,000 on 10/1/03; 25,000 on
 10/1/04; and 25,000 on 10/1/05

	 	  	 1/3/03
	    	 75,000
	  	 $
	 14.95
	  	 12,500 on 07/01/2003; 12,500 on
 01/01/2004; 12,500 on
 07/01/2004; 12,500 on
 01/01/2005; 12,500 on
 07/01/2005; and 12,500 on
 01/01/2006

	
	 Jonathan Levy
	  	 9/6/02
	    	 50,000
	  	 $
	 14.45
	  	 20,000 on 10/1/03; 15,000 on
 10/1/04; and 15,000 on 10/1/05

	 	  	 1/3/03
	    	 40,000
	  	 $
	 14.95
	  	 6,666 on 07/01/2003; 6,666 on
 01/01/2004; 6,666 on
 07/01/2004; 6,666 on
 01/01/2005; 6,666 on
 07/01/2005; and 6,670 on
 01/01/2006

	
	 Morris Lichtenstein
	  	 9/6/02
	    	 100,000
	  	 $
	 14.45
	  	 35,000 on 10/1/03; 35,000 on
 10/1/04; and 30,000 on 10/1/05

	 	  	 1/3/03
	    	 100,000
	  	 $
	 14.95
	  	 16,666 on 07/01/2003; 16,666 on
 01/01/2004; 16,666 on
 07/01/2004; 16,666 on
 01/01/2005; 16,666 on
 07/01/2005; and 16,670 on
 01/01/2006

	 Name of Optionee

	  	 Date of
 Stock
 Option
 Agreement

	    	 Number of Shares
 of Class B
 Common Stock of
 IDT Corporation Issuable Upon Exercise of Option

	  	 Exercise
 Price

	  	 Vesting

	 Joyce J. Mason
	  	 9/6/02
	    	 50,000
	  	 $
	 14.45
	  	 20,000 on 10/1/03; 15,000 on
 10/1/04; and 15,000 on 10/1/05

	 	  	 1/3/03
	    	 50,000
	  	 $
	 14.95
	  	 8,333 on 07/01/2003; 8,333 on 01/01/2004; 8,333 on 07/01/2004;
 8,333 on 01/01/2005; 8,333 on
 07/01/2005; and
8,335 on
 01/01/2006

	
	 Geoffrey Rochwarger
	  	 9/6/02
	    	 60,000
	  	 $
	 14.45
	  	 20,000 on 10/1/03; 20,000 on
 10/1/04; and 20,000 on 10/1/05

	 	  	 1/3/03
	    	 60,000
	  	 $
	 14.95
	  	 10,000 on 07/01/2003; 10,000 on 01/01/2004; 10,000 on
 07/01/2004; 10,000 on
 01/01/2005; 10,000 on
 07/01/2005; and 10,000 on
 01/01/2006Amendment to Stock Option Agreement

Exhibit 4.6 
 
AMENDMENT TO STOCK OPTION AGREEMENT 
 
THIS AMENDMENT made on April     , 2003, by and between IDT Corporation, a
Delaware corporation (the “Company”) and
                                     (the
“Executive”). 
 
WITNESSETH:

 
WHEREAS, the Company and Executive have
entered into a Stock Option Agreement dated as of                 ,
                 (the “Agreement”) pursuant to which Executive originally had the right to purchase
             shares of the Company’s common stock, par value $.01 per share (“Common Stock”); 
 
WHEREAS, the Company declared a stock dividend of one share of the Company’s class B common stock
(“Class B Common Stock”) with respect to each outstanding share of Common Stock, Class B Common Stock and class A common stock, par value $.01 per share, which dividend was payable on May 31, 2001 (the “Stock Dividend”);

 
WHEREAS, as a result of the Stock Dividend, each
option to purchase a share of Common Stock under the Agreement became an option to purchase one share of Common Stock and one share of Class B Common Stock; 
 
WHEREAS, the Agreement is currently exercisable for             
unexercised shares of Common Stock and              unexercised shares of Class B Common Stock; and 
 
WHEREAS, the parties hereto desire to amend the Agreement to provide for the purchase of a share of Class B
Common Stock in lieu of each unexercised share of Common Stock otherwise subject to the Agreement after the Stock Dividend, such that the Agreement will be exercisable for a total of
             shares of Class B Common Stock after the date of this Amendment. 
 
NOW, THEREFORE, the Agreement is hereby amended as follows: 
 
1. Section 2 of the Agreement is hereby deleted and replaced with the following: 
 
“Grant of Options. Pursuant to a determination by
the Board of Directors of the Company (the “Board”), the Company, subject to the terms and conditions of this Agreement, hereby grants, effective as of the date hereof (the “Grant Date”), Nonqualified Stock Options (the
“Options”) to purchase from the Company              shares of class B common stock, par value $.01 per share (“Common Stock”), subject to adjustment as provided
in Section 8 hereof.” 
 
2. Section 4 of the
Agreement is hereby deleted and replaced with the following: 
 
“Option Price. The price at which shares of Common Stock shall be purchasable upon exercise of the Options shall be $             per share (the
“Option Price”), subject to adjustment as provided in Section 8 hereof.” 
 
3. Except as expressly provided above, the Agreement shall remain in full force and effect. 
 
IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by an authorized officer and the Executive has hereunto set his
hand all as of the day, month and year first above written. 
 

	 IDT CORPORATION

	
	 By:                                     
                                        
   

	
	 Executive:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]