Document:

Form of Executive Employment Agreement

 Exhibit 10.1 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement (“Agreement”)
is made effective as of September 1, 2008 (“Effective Date”), by and between Jamba Juice Company, a California corporation (“Company”) and [NAME] (“Executive”). 
 WHEREAS, Executive is, at present, an employee of the Company. The Company is entering into this Agreement with Executive in order to
provide an incentive to Executive to maintain Executive’s employment relationship with the Company. 
 WHEREAS,
Executive, as a senior employee of the Company, needs to devote Executive’s full energy and attention to the success of the Company. 
 WHEREAS, Company wishes to retain Executive’s continued services and attention to the Company; and 
 WHEREAS, Company desires to continue Executive’s employment on the terms and conditions set forth herein, and Executive is willing to accept continued employment on such terms and conditions. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 The parties agree as follows:

 1. Employment. Company hereby continues Executive’s employment, and Executive hereby accepts such employment, upon the terms
and conditions set forth herein. 
 2. Duties. 
 2.1 Position. Executive is employed as [TITLE], and shall continue to have the duties and responsibilities assigned by
Company’s President and Chief Executive Officer (“CEO”) or the Board of Directors (“Board”) and as may be reasonably assigned from time to time. Executive shall perform faithfully and diligently all duties
assigned to Executive. Company reserves the right to modify Executive’s position and duties at any time in its sole and absolute discretion. 
 2.2 Best Efforts/Full-time. Executive will expend Executive’s best efforts on behalf of Company, and will abide by all policies and decisions made by Company, as well as all applicable federal, state and
local laws, regulations or ordinances. Executive will act in the best interest of Company at all times. Executive shall devote Executive’s full business time and efforts to the performance of Executive’s assigned duties for Company, unless
Executive notifies the CEO in advance of Executive’s intent to engage in other paid work and receives the CEO’s express written consent to do so. 
 2.3 Work Location. Executive’s principal place of work shall be located at the Company’s corporate offices in Emeryville, California, or such other location as Company may direct from time to time.

  

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 3. Term. 
 3.1 Initial Term. The employment relationship pursuant to this Agreement shall be for an initial term commencing on the Effective
Date set forth above and continuing for a period of sixteen (16) months following such date (“Initial Term”), unless sooner terminated in accordance with Section 7 below. 
 3.2 Renewal. On expiration of the Initial Term specified in subsection 3.1 above, this Agreement will automatically renew for
subsequent one (1) year terms unless either party provides thirty (30) days advance written notice to the other that Company/Executive does not wish to renew the Agreement for a subsequent one year term. In the event of non-renewal by the
Company, Executive’s employment will be deemed to be a Termination without Cause and subject to the provisions of Section 7.2 below. In the event of non-renewal by the Executive, Executive’s employment will be treated as a Voluntary
Resignation by Executive Without Good Reason and subject to the provisions of Section 7.4 below. 
 4. Compensation. 

4.1 Base Salary. As compensation for Executive’s performance of Executive’s duties hereunder, Company shall pay to
Executive a Base Salary of [SALARY] per year (“Base Salary”) which shall continue to be paid in accordance with the normal payroll practices of Company, less required deductions for state and federal withholding tax, social security
and all other employment taxes and payroll deductions. The Base Salary shall be reviewed annually by the Compensation and Executive Development Committee of the Board (the “Committee”) with any adjustments made at the sole
discretion of the Committee. In the event Executive’s employment under this Agreement is terminated by either party, for any reason, Executive will earn the Base Salary prorated to the date of termination. 
 4.2 Incentive Compensation. Executive shall be entitled to participate in such bonuses and incentives as may be awarded annually or
from time to time by the Committee. Any bonus payable to Executive pursuant to this Agreement shall be paid in full no later than 90 days after the end of the fiscal year in which the bonus was earned by Executive (but in no event earlier than the
completion of the audited financial statements of Jamba, Inc., the Company’s parent company (“Parent”)) and shall be payable to Executive only if, at the time of such payment, Executive is employed by Company in good standing. In
addition, the Company has adopted the 2006 Employee, Director and Consultant Stock Plan (the “Plan”). Executive shall be entitled to receive grants of stock options and/or restricted stock on the terms and conditions determined by
the Committee and in accordance with the Plan. 
 4.3 Acceleration of Unvested Stock/Options. As of the Effective Date,
the Company is in the search process for a new CEO. Given the uncertainty that Executive may be experiencing during this search period, effective for the three (3) month period following the start date of the next hired CEO from the date
hereof, in the event of the Executive’s Termination Without Cause pursuant to Section 7.2 below or due to a Voluntary Resignation By Executive for Good Reason as set forth in Section 7.3 below, provided Executive complies with all of
the provisions of Sections 7.2 or 7.3, Executive shall receive accelerated vesting in any previously granted restricted stock or stock options which are unvested at the time of Termination Without Cause or Voluntary Resignation by Executive for Good
Reason subject to the following schedule: 
 (a) Previously granted restricted stock or stock options that are up to one year vested: 50% of
unvested shares subject to grant shall vest; 
  

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 (b) Previously granted restricted stock or stock options that are between one to two years vested: 75% of
unvested shares subject to grant shall vest; and 
 (c) Previously granted restricted stock or stock options that are two or more years
vested: 100% of unvested shares subject to grant shall vest. 
 With respect to the stock options subject to the accelerated vesting
described above, the post termination exercise period shall be extended to twelve (12) months (but not beyond the option’s original term). 
 After the three (3) month period following the start date of the next hired CEO from the date hereof, the provisions of this Section 4.3 shall be of no further force and effect. 
 5. Customary Fringe Benefits. Executive will continue to be eligible for and participate in all customary and usual fringe benefits generally
available to Executives of Company subject to the terms and conditions of Company’s benefit plan documents. Company reserves the right to change or eliminate the fringe benefits on a prospective basis, at any time, effective upon notice to
Executive. 
 6. Business Expenses. Executive will be reimbursed for all reasonable, out-of-pocket business expenses incurred in the
performance of Executive’s duties on behalf of Company. To obtain reimbursement, expenses must be submitted promptly with appropriate supporting documentation and will be reimbursed in accordance with Company’s policies. Any reimbursement
Executive is entitled to receive shall (a) be paid no later than the last day of Executive’s tax year following the tax year in which the expense was incurred, (b) not be affected by any other expenses that are eligible for
reimbursement in any tax year, and (c) not be subject to liquidation or exchange for another benefit. 
 7. Termination of
Executive’s Employment. 
 7.1 Termination for Cause by Company. Although Company anticipates a mutually
rewarding employment relationship with Executive, Company may terminate Executive’s employment immediately at any time for Cause. For purposes of this Agreement, “Cause” means Executive’s (a) conviction or plea of guilty or
nolo contendere to any felony or crime involving moral turpitude or dishonesty; (b) participation in a fraud or embezzlement against the Company; (c) failure to substantially perform the material duties and obligations of employment, which
failure continues uncured after written notice thereof by the Company and a reasonable opportunity to cure; or (d) material violation of a statutory duty Executive owes to the Company, which violation continues uncured after written notice
thereof by the Company and a reasonable opportunity to cure. In the event Executive’s employment is terminated in accordance with this Section 7.1, Executive shall be entitled to receive only Executive’s Base Salary then in effect,
prorated to the date of termination and all accrued benefits through the date of termination. All other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely extinguished. Executive will not
be entitled to receive the Severance Package described in Section 7.2 below. 
 7.2 Termination Without Cause by
Company/Severance. Company may also terminate Executive’s employment under this Agreement Without Cause at any time without notice. In the event of such termination, Executive will receive Executive’s Base Salary then in effect,
prorated to the date of termination, and any accrued benefits through the date of termination and shall be entitled to no other payments or benefits except as set forth in this 

  

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Section 7.2. In addition, Executive will receive a “Severance Package” that shall include (a) a severance payment in an amount equal to
twelve (12) months of Executive’s then current Base Salary, less applicable withholding, payable in accordance with Company’s regular payroll cycle (the “Severance Period”); and (b) if Executive was covered under
the Company’s group health plan as of the date of Executive’s Termination Without Cause and Executive timely elects to continue such group coverage under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act
(“COBRA”) and remains eligible for these benefits under COBRA, the Company shall provide Executive with payment of the premiums required for such COBRA coverage for the Severance Period, provided that Executive does not become
eligible for health coverage through another employer during this period. Notwithstanding the above, during the Severance Period Executive shall use Executive’s best efforts to obtain other employment and to pursue other business opportunities
and activities, at a comparable level, and any amounts otherwise payable pursuant to this Section 7.2 shall be reduced by all amounts (whether direct or indirect salary, compensation or otherwise) earned by Executive from other employment or
business activities prior to the end of the Severance Period. Executive will only receive the Severance Package if Executive: (w) complies with all surviving provisions of this Agreement as specified in Section 14.8 below;
(x) executes a full general release in favor of the Company and in a form acceptable to Company, releasing all claims, known or unknown, that Executive may have against Company arising out of or any way related to Executive’s employment or
termination of employment with Company, and such release has become effective in accordance with its terms prior to the 60th day following the termination date, (y) agrees, during the Severance Period, that Executive will not recruit, directly
or indirectly, any employee of the Company for employment with any other company, organization, or operation, unless Executive obtains the prior written approval from the CEO, and (z) agrees not make any voluntary statements, written or oral,
or cause or encourage others to make any such statements that defame, disparage or in any way criticize the personal and/or business reputations, practices or conduct of Company. All other Company obligations to Executive will be automatically
terminated and completely extinguished. 
 7.3 Voluntary Resignation by Executive for Good Reason/Severance. Executive
may voluntarily resign Executive’s position with Company for Good Reason, at any time on thirty (30) days’ advance written notice. In the event of Executive’s resignation for Good Reason, Executive will be entitled to receive
Executive’s Base Salary then in effect, prorated to the date of termination, any accrued benefits through the date of termination, and the Severance Package described in Section 7.2 above subject to the provisions regarding mitigation set
forth therein and provided Executive complies with all of the conditions in Section 7.2 above. All other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely extinguished. Executive
will be deemed to have resigned for Good Reason if Executive voluntarily terminates Executive’s employment with Company within thirty (30) days after the occurrence of one or more of the following circumstances: (a) a material
reduction in Executive’s Base Salary, unless the reduction is made as part of, and is generally consistent with, a general reduction of senior executive salaries; (b) a material diminution of Executive’s position and/or duties so that
Executive’s duties are no longer consistent with the position of a senior executive; or (c) Company relocates Executive’s principal place of work to a location more than sixty (60) miles from the location specified in
Section 2.3, without Executive’s prior written approval; provided, however, that Company has been provided with written notice of the circumstance and twenty (20) days from receipt of written notice in which to cure such circumstance.

  

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 7.4 Voluntary Resignation by Executive Without Good Reason. Executive may
voluntarily resign Executive’s position with Company without Good Reason, at any time on fourteen (14) days’ advance written notice. In the event of Executive’s resignation without Good Reason, Executive will be entitled to
receive only Executive’s Base Salary and benefits for the fourteen-(14) day notice period and no other amount. All other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely
extinguished. In addition, Executive will not be entitled to receive the Severance Package described in Section 7.2 above. 
 7.5 Termination Following a Change of Control. In addition to any Severance Package which Executive may be entitled to under Sections 7.2 or 7.3 above, in the event Executive’s employment with the Company is terminated Without
Cause (as defined above) or by Executive for Good Reason (as defined above) at any time within twelve (12) months following a Change of Control (as defined below), provided Executive complies with all of the conditions in Section 7.2 or
7.3, as applicable, then Executive will also be entitled to receive accelerated vesting in any previously granted restricted stock or stock options which are unvested at the time of Termination following a Change of Control subject to the following
schedule: 
 (a) Previously granted restricted stock or stock options that are up to one year vested: 50% of unvested shares subject to grant
shall vest; 
 (b) Previously granted restricted stock or stock options that are between one to two years vested: 75% of unvested shares
subject to grant shall vest; and 
 (c ) Previously granted restricted stock or stock options that are two or more years vested: 100% of
unvested shares subject to grant shall vest. 
 With respect to the stock options subject to the accelerated vesting described above, the
post termination exercise period shall be extended to twelve (12) months (but not beyond the option’s original term). 
 “Change of Control” means (a) a sale of substantially all of the assets of the Company or Parent, (b) a merger or consolidation in which the Parent is not the surviving corporation, (c) a reverse merger in
which the Parent is the surviving corporation but the shares of common stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise, (d) an
acquisition by any person, entity or group within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or any comparable successor provisions (excluding any employee benefit
plan, or related trust, sponsored or maintained by the Parent) of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act, or comparable successor rule) of securities of the Parent representing at least fifty
percent (50%) of the combined voting power entitled to vote in the election of directors. 
 For purposes of clarity, in the event of a
Termination following a Change of Control during the three (3) month period following the start date of the next hired CEO from the date hereof, the acceleration provided in this Section 7 is not intended to be cumulative to the
acceleration provisions of Section 4.3 and only the acceleration of vesting provided in either this Section 7 or in Section 4.3 shall apply. 
  

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 8. Application of Section 409A. 
 (a) Notwithstanding anything set forth in this Agreement to the contrary, no amount payable pursuant to this Agreement which constitutes a
“deferral of compensation” within the meaning of the Treasury Regulations issued pursuant to Section 409A (the “Section 409A Regulations”) of the Internal Revenue Code of 1986, as amended (the
“Code”) shall be paid unless and until Executive has incurred a “separation from service” within the meaning of the Section 409A Regulations. For purposes of this Agreement, the right to a series of installment
payments shall be treated as a right to a series of separate payments within the meaning of the 409A Regulations. Furthermore, to the extent that Executive is a “specified employee” within the meaning of the Section 409A Regulations
as of the date of Executive’s separation from service, no amount that constitutes a deferral of compensation which is payable on account of Executive’s separation from service shall be paid to Executive before the date (the
“Delayed Payment Date”) which is first day of the seventh month after the date of Executive’s separation from service or, if earlier, the date of Executive’s death following such separation from service. All such amounts
that would, but for this Section, become payable prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date. 
 (b) The Company intends that income provided to Executive pursuant to this Agreement will not be subject to taxation under Section 409A of the Code. The provisions of this Agreement shall be interpreted and
construed in favor of satisfying any applicable requirements of Section 409A of the Code. However, the Company does not guarantee any particular tax effect for income provided to Executive pursuant to this Agreement. In any event, except for
the Company’s responsibility to withhold applicable income and employment taxes from compensation paid or provided to Executive, the Company shall not be responsible for the payment of any applicable taxes on compensation paid or provided to
Executive pursuant to this Agreement. 
 9. No Conflict of Interest. During the term of Executive’s employment with Company,
Executive must not engage in any work, paid or unpaid, that creates an actual conflict of interest which materially and substantially disrupts the operations of the Company. Such work shall include, but is not limited to, directly or indirectly
competing with Company in any way, or acting as an officer, director, employee, consultant, stockholder, volunteer, lender, or agent of any business enterprise of the same nature as, or which is in direct competition with, the business in which
Company is now engaged or in which Company becomes engaged during the term of Executive’s employment with Company, as may be determined by Company in its sole discretion. If Company believes such a conflict exists during the term of this
Agreement, Company may ask Executive to choose to discontinue the other work or resign employment with Company. 
 10. Confidential
Information. Executive agrees to continue to abide by the Company’s form Employee Non-Disclosure, Assignment and Non-Solicitation Agreement that Executive signed as a condition of Executive’s employment with the Company. 
 11. Injunctive Relief. Executive acknowledges that Executive’s breach of the covenants contained in Sections 9 (“No Conflict of
Interest”) and 10 (“Confidential Information”) would cause irreparable injury to Company and agrees that in the event of any such breach, Company shall be entitled to seek temporary, and preliminary injunctive relief pursuant to the
California Arbitration Act, without the necessity of proving actual damages or posting any bond or other security. 
  

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 12. Arbitration. In the event of any dispute or claim relating to or arising out of the employment
relationship between Executive and Company or the termination of that relationship (including, but not limited to, any claims of breach of contract, wrongful termination or age, sex, race, disability or other discrimination), Executive and Company
agree that all such disputes shall be resolved by binding arbitration conducted before a single neutral arbitrator in San Francisco, California, pursuant to the rules for arbitration of employment disputes by the American Arbitration Association
(available at www.adr.org) and the rules set forth in the California Arbitration Act, Code of Civil Procedure Section 1280, et seq. (available at www.leginfo.ca.gov/calaw.html). The arbitrator shall permit adequate discovery, including
discovery pursuant to Section 1283.05 of the California Code of Civil Procedure. In addition, the arbitrator is empowered to award all remedies otherwise available in a court of competent jurisdiction; however Executive and Company each retain
the right under Section 1281.8 of the California Code of Civil Procedure to seek provisional remedies. Any judgment rendered by the arbitrator may be entered by any court of competent jurisdiction. The arbitrator shall issue an award in writing
and state the essential findings and conclusions on which the award is based. By executing this Agreement, Executive and Company are both waiving the right to a jury trial with respect to any such disputes. Company shall bear the costs of the
arbitrator, forum and filing fees. Each party shall bear its own respective attorneys’ fees and all other costs, unless otherwise provided by law and awarded by the arbitrator. This arbitration agreement does not include claims that, by law,
may not be subject to mandatory arbitration. 
 13. Limitation on Payments. In the event that the severance and other benefits
provided for in this Agreement or otherwise payable to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section, would be subject to the excise tax imposed by
Section 4999 of the Code, then Executive’s severance benefits under this Agreement shall be payable either 
 13.1
in full, or 
 13.2 as to such lesser amount which would result in no portion of such severance benefits being subject to
excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Executive on an
after-tax basis, of the greatest amount of severance benefits under this Agreement, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code. Unless the Company and Executive otherwise
agree in writing, any determination required under this Section shall be made in writing by independent public accountants (the “Accountants”) selected by the Company, whose determination shall be conclusive and binding upon
Executive and the Company for all purposes. For purposes of making the calculations required by this Section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith
interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination
under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section. 
 14. General Provisions. 
 14.1 Successors and Assigns. The rights and
obligations of Company under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of Company. Executive shall not be entitled to assign any of Executive’s rights or obligations under this Agreement.

  

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 14.2 Waiver. Either party’s failure to enforce any provision of this
Agreement shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Agreement. 
 14.3 Attorneys’ Fees. Each side will bear its own attorneys’ fees in any dispute unless a statutory section at issue, if
any, authorizes the award of attorneys’ fees to the prevailing party. 
 14.4 Severability. In the event any
provision of this Agreement is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended
that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and
the validity and enforceability of the remaining provisions shall not be affected thereby. 
 14.5 Interpretation;
Construction. The headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing Company, but Executive has participated in the
negotiation of its terms. Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Agreement and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 
 14.6 Governing Law. This Agreement will be governed by and construed in accordance with the laws of the United States and the State of California. Each party consents to the jurisdiction and venue of the state or federal courts in
San Francisco, California, if applicable, in any action, suit, or proceeding arising out of or relating to this Agreement. 
 14.7 Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (a) by personal delivery when delivered personally; (b) by
overnight courier upon written verification of receipt; (c) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (d) by certified or registered mail, return receipt requested, upon
verification of receipt. Notice shall be sent to the addresses set forth below, or such other address as either party may specify in writing. 
 14.8 Survival. Sections 9 (“No Conflict of Interest”), 10 (“Confidential Information”), 11 (“Injunctive Relief”), 12 (“Arbitration”), 14 (“General Provisions”)
and 15 (“Entire Agreement”) of this Agreement shall survive Executive’s employment by Company for any reason. 
 15. Entire
Agreement. This Agreement constitutes the entire agreement between the parties relating to this subject matter and supersedes all prior or simultaneous representations, discussions, negotiations, and agreements, whether written or oral. This
Agreement may be amended or modified only with the written consent of Executive and the Committee. No oral waiver, amendment or modification will be effective under any circumstances whatsoever. 
  

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 THE PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED
HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW. 
  

									
	Dated:	 	 	 		 	  

		 		 		 	[EXECUTIVE]
			
		 		 	JAMBA JUICE COMPANY
					
	Dated:	 	 	 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:
				
		 		 		 	6475 Christie Ave., Ste 150
		 		 		 	Emeryville, CA 94608

  

 9Retention Agreement

 Exhibit 10.15 
 [IDT LETTERHEAD] 
 Marcelo Fischer 
 1656 Marine Parkway 
 Brooklyn, NY 11234 
 As of April 1, 2008 
 Dear Marcelo: 
 You have been a member of the management team of IDT for many years, serving in a variety of capacities, including Chief Accounting Officer and Controller of IDT Corporation, Chief Financial Officer of IDT Corporation and Chief Financial
Officer of IDT Telecom. This letter (the “Agreement”) sets forth the terms in the event of your termination of employment with IDT Corporation and IDT Telecom (collectively the “Company”). 
 If: 
  

	 	(i)	the Company terminates your employment for any reason other than Cause during the two (2) year period following the date of this Agreement; 

  

	 	(ii)	you terminate your employment for any reason during any Termination Option Period (as defined below); or 

  

	 	(iii)	you die or become incapacitated during the two (2) year period following the date of this Agreement, 

 you shall be entitled to receive severance in the aggregate amount of One Million One Hundred Seventy Thousand Dollars ($1,170,000), (the
“Severance”), provided you execute and deliver a separation agreement and general release of claims against the Company (substantially similar to the Company standard form annexed hereto as Exhibit 1, the “Release”) within one
(1) month after the date of such termination of employment. The Company shall promptly commence the severance payments following receipt of the Release and upon expiration of the Revocation Period (defined in attached Release). As used herein,
the term “Termination Option Period” shall mean any time during the months of August 2008, November 2008 or February 2009, or any time between April 1, 2009 and March 31, 2010. 

 The Severance will be paid in the following manner: 
  

	 	(i)	IDT shall promptly pay Eight Hundred Thirty-Five Thousand Dollars ($835,000.00) upon execution and delivery of the Release and expiration of the Revocation Period.

  

	 	(ii)	One Hundred Sixty-Seven Thousand Five Hundred Dollars ($167,500.00) on or before 90 days after the date of termination (“Second Payment Period”) provided execution and
delivery of the above mentioned Release. 

  

	 	(iii)	One Hundred Sixty-Seven Thousand Five Hundred Dollars ($167,500.00) within 90 days after the Second Payment Period provided execution and delivery of the above mentioned Release.

 Notwithstanding the above, if the Compensation Committee of the Company determines that you are a “specified employee” within the
meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and that such amounts are not exempt from Code Section 409A, then any Severance to be paid pursuant to this Agreement will not be paid during
the six month period following your termination of employment. Instead, the Company will pay you, in a lump sum amount, on the first day following such six month period, the full Severance. 
 Except for those obligations specifically set forth in this Agreement, as of the date of this Agreement, any and all agreements or arrangements, either
oral or written, between the Company and you, related to severance, commissions, bonuses or compensation of any nature, including, without limitation, any documents, correspondence, oral promises or any other arrangements related to the proposal
known as the Jonah Value Creation Project are null and void. 
 If you are at any time terminated for Cause or you terminate your employment
with the Company other than during a Termination Option Period, you shall forfeit any entitlement to the Severance. For purposes of entitlement to the Severance, “Cause” shall be defined as your: 
  

	 	(i)	conviction for the commission of an act or acts constituting a felony under the laws of the United States or any state thereof; 

  

	 	(ii)	commission of fraud, embezzlement, gross negligence or malfeasance; 

  

	 	(iii)	 willful or continued failure to substantially perform your duties (other than any such failure resulting from your incapacity due to physical or mental illness) or
directives of the Board, after written notice has been delivered to you by the Company, which notice specifically identifies the manner in which you have not substantially performed your duties, and your failure to substantially perform 

	 	 
your duties is not cured within ten (10) business days after notice of such failure has been given to you. For purposes of these Sections (iii),
(iv) and (vi), no act or failure to act on your part shall be deemed “willful” unless done or omitted to be done, by you not in good faith and without reasonable belief that your act, or failure to act, was in the best interest of the
Company; 

  

	 	(iv)	willful misrepresentation or concealment of a material fact from the Board or general counsel, chief financial officer or any other member of senior
management;

  

	 	(v)	material violation of the Company’s rules, policies or procedures, including without limitation, the Company’s Code of Business Conduct and Ethics; or

  

	 	(vi)	willful or negligent act or omission which results in an assessment of a civil or criminal penalty against you or the Company or its affiliates, which in the reasonable judgment of
the Board could result in a material violation of any foreign or United States federal, state or local law or regulation having the force of law, or in the reasonable judgment of the Board is injurious to the Company or any of its affiliates.

 You agree to provide the Company with 30 days written notice of the intention to terminate your employment with the Company.
The Company agrees to provide you with 30 day written notice of the intention to terminate your employment, if such termination is to be prior to March 31, 2009. In the event that you terminate your employment with the Company, the Company
shall be entitled to waive all or part of such notice period, and determine the effective date of termination accordingly. 
 The Company has
no obligation to rehire, recall or re-employ you at any time and nothing herein creates any right or entitlement to continued employment. 
 With the exception of the Company’s Non-Disclosure and Non-Competition Agreement (“NDA”) and any stock option, restricted share or other incentive award agreements which may be issued by the Company, the explicit terms of
this letter supersede any and all prior agreements, arrangements, promises, covenants, communications, representations or warranties, whether oral or written, by any officer, employee or representative of the Company, or its parent or affiliates
(including, but not limited to any documents, correspondence, oral promises or any other arrangements related to the proposal known as the Jonah Value Creation Project); and any prior agreement in respect of the terms of your employment with or
severance from the Company, its parent or affiliates is hereby terminated and canceled. 
 [Signature Page Follows] 

 Please acknowledge your consent to the terms of this letter by countersigning below. 
  

	
	Very truly yours,
	
	/s/ James Courter
	James Courter
	CEO, IDT Corporation

  

	
	Acknowledged and agreed to:
	
	/s/ Marcelo Fischer
	Marcelo Fischer

 Date: May 6, 2008 

 Exhibit 1: RELEASE 
 CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE 
 This CONFIDENTIAL SEPARATION
AGREEMENT AND GENERAL RELEASE (“Agreement”), dated as of April__, 2008 is hereby made between
                            (“Employee”) and IDT CORPORATION and its divisions, affiliates,
subsidiaries (including but not limited to, IDT Telecom, IDT Capital, Inc., Net2Phone, Inc., and Union Telecard Alliance, LLC and their respective divisions, affiliates and subsidiaries), predecessors, successors and assigns (collectively
“IDT”). Employee and IDT are hereinafter referred to individually as a “Party” and collectively as the “Parties”. This Agreement will become effective on the Effective Date (as hereafter defined). 
 WHEREAS, EMPLOYEE’s employment with IDT will terminate effective as of the close of business on
                    , 200_ (the “Termination Date”); and 
 WHEREAS, EMPLOYEE and IDT have agreed to settle fully and finally any and all matters and/or controversies between them under the terms and conditions
set forth in this Agreement. 
 NOW THEREFORE, with the intent to be legally bound hereby, and in consideration of the mutual promises and
covenants contained herein and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, IDT and EMPLOYEE agree to the terms and conditions set forth below. 
 1. Payment. 
 1.1.
EMPLOYEE shall be entitled to the following payments from IDT: 
 1.2. EMPLOYEE shall receive reimbursement by IDT for all
reasonable and approved business expenses incurred prior to the Termination Date in accordance with IDT’s policies. 
 1.3. Notwithstanding the above, any Severance to be paid pursuant to this Agreement will not be paid during the six month period following your termination of employment if the Compensation Committee of the Company determines that you are a
“specified employee” within the meaning of Section 409A of the of the Internal Revenue Code of 1986, as amended (the “Code”) and that such amounts are not exempt from Code Section 409A. In such event, the Company

 
will pay you a lump sum amount equal to the cumulative amounts that would have otherwise been paid to you during such six month period (without interest) on
the first day following such six month period. Thereafter, you will receive your remaining Severance payments pursuant to the terms of this Agreement. 
 1.4. All payments hereunder shall be less required withholdings for taxes and benefit plan contributions (if any). 
 2. Benefits. 
 2.1. As of the Termination Date, EMPLOYEE shall be eligible to elect the continuance of group
health and dental insurance (if EMPLOYEE is currently enrolled in the IDT sponsored plan), in accordance with federal COBRA law. 
 2.2. If EMPLOYEE so elects, and so long as EMPLOYEE is entitled to COBRA coverage, during the Severance Pay Period, EMPLOYEE’s premiums for group health and dental insurance under COBRA shall be the same amount that an active employee
contributes for such benefit coverage. If EMPLOYEE wishes to elect COBRA (continue coverage in the then current group medical and/or dental plan after
                    , 200_), EMPLOYEE must complete and sign the COBRA Election Form and return it to Human Resources in accordance with
COBRA. After the completion of the Severance Pay Period, EMPLOYEE’s premiums for COBRA coverage will be the published rate of group health insurance under COBRA. 
 2.3. After the Termination Date, EMPLOYEE will not continue to accrue vacation benefits or commissions, or otherwise be eligible for Life
or Disability benefits, or continue to contribute to the IDT Savings Plan or 401(k) Plan, or participate in the Employee Stock Purchase Plan, and will not receive any other benefits from IDT, other than those specified in this Agreement.
EMPLOYEE’s rights with respect to any options to purchase IDT stock or IDT stock he may have received from IDT are governed by the applicable award agreements and plan documents. 
 3. Payment of all Outstanding Compensation. Except for those obligations specifically set forth in this Agreement, as of the Termination Date, any
and all agreements or arrangements, either oral or written, between the Parties related to commissions, bonuses, ownership or other interests in any entities or assets, payments and/or compensation of any kind, including but not limited to any
documents, correspondence, oral promises and any other arrangements related to the proposal known as the Jonah Value Creation Project, (“Compensation”) are deemed null and void without any continuing obligation or liability
of any party thereunder; it being understood that, among other things, from and after the Termination Date, except as expressly provided hereunder, IDT will have no obligation to pay EMPLOYEE any Compensation or have any duties, responsibilities or
other obligations to EMPLOYEE with respect to any agreement or arrangement and EMPLOYEE will have no rights thereunder. EMPLOYEE acknowledges and agrees that he is due no other compensation, commission payments, benefits or other consideration of
any kind other than as specifically identified in this Agreement. 

 4. Equipment. EMPLOYEE will return any and all IDT property and equipment in his possession,
including, but not limited to, any and all IDT identification cards, card key passes, keys, pagers, computers (laptops or desktops), cellular telephones, BlackBerry or similar personal digital assistant devices, corporate credit cards, corporate
calling cards, and any other property or equipment in his possession that IDT may not know of, on or before the Termination Date. 
 5.
Termination of Employment; Resignation. EMPLOYEE acknowledges and agrees that his employment by IDT terminated on the Termination Date, and that he will be deemed to have resigned from all officer positions and directorships that he may hold
with IDT (or otherwise at the request of IDT) at such time including without limitation as an officer of IDT Telecom. On or prior to the Termination Date, EMPLOYEE shall execute and deliver a resignation letter from such officer positions and
directorships, if any, in the form attached hereto as Exhibit A. 
 6. Re-employment or Reinstatement. EMPLOYEE recognizes and
acknowledges that IDT has no obligation to recall, rehire, or re-employ EMPLOYEE in the future. 
 7. Cooperation. 
 7.1. EMPLOYEE agrees to cooperate with reasonable requests for advice, cooperation and/or assistance made by IDT, at no charge, in
connection with matters he worked on while employed by IDT, including, without limitation, to assist in the orderly transition of his duties and responsibilities and any outstanding projects to the individual (or individuals) designated by IDT.
Failure by EMPLOYEE to provide complete and honest cooperation will constitute a material breach of this Agreement. 
 7.2. In
furtherance of the foregoing, EMPLOYEE agrees to cooperate with all reasonable requests which IDT may make, including but not limited to, requests for information, interviews, depositions (to be conducted at a mutually convenient and reasonable
time) and/or at trial related to any legal action arising from events which occurred during EMPLOYEE’s employment. IDT shall attempt, in good faith and when possible, to issue the above referenced requests so as not to prevent EMPLOYEE’s
efficient disposition of same, and EMPLOYEE agrees to comply in good faith with IDT’s requests. 
 8. No Other Inducements.
EMPLOYEE acknowledges that the payments described in Section 1 are made solely in consideration of and in exchange for his execution of this Agreement and the general release. EMPLOYEE acknowledges that he is not otherwise entitled to
receive the payments and other items of value referenced above, absent his execution of this Agreement, and that no other promise or agreements of any kind have been made to him or with him by any person or entity whatsoever to cause him to sign
this Agreement. 

 9. Release. 
 9.1. For good and valuable consideration (the receipt and sufficiency of which hereby are acknowledged) and as a material inducement to
IDT to enter into this Agreement, EMPLOYEE, for himself and his heirs, executors, administrators, personal representatives and members of his immediate family, hereby voluntarily, irrevocably and unconditionally releases, acquits and forever
discharges IDT and its present and former officers, directors, employees, shareholders, consultants, attorneys, advisors, insurers, agents and representatives, and all persons acting by, through, under or in concert with any of them (whether any of
the aforementioned individuals were acting as agents for IDT or in their individual capacities) (collectively, the “Released Parties”) from any and all claims and causes of action (except those necessary to enforce his rights
under this Agreement) including, but not limited to, claims related to EMPLOYEE’s employment, or separation from employment; any claims for salary, bonuses, commissions, payments related to severance pay, vacation pay or any benefits under the
Employee Retirement Income Security Act (except for vested ERISA benefits which are not affected by this Agreement); any claims for option, stock or other incentive awards; any claim under New Jersey’s Wage and Hour Laws, or other state wage
and hour laws; any claim under the Worker Adjustment and Retraining and Notification Act; any claim alleging sexual or other harassment, or discrimination based on race, color, national origin, ancestry, religion, marital status, sex, sexual
orientation, citizenship status, pregnancy, medical condition, handicap or disability (as defined by the Americans with Disabilities Act or any foreign, federal, state or local law), age, or any other unlawful discrimination (under the Age
Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act of 1990, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Equal Pay Act, the Violence Against Women Act, the New
Jersey Law Against Discrimination, or any other foreign, federal, state or local laws); discharge in violation of New Jersey’s Conscientious Employee Protection Act or other foreign, state or federal “whistle blower” laws; discharge
in violation of the federal Family and Medical Leave Act, the New Jersey Family Leave Act or other foreign, state or federal family leave laws; the New Jersey Temporary Disability Benefits Law, breach of implied or express contract, breach of
promises, misrepresentation, negligence, fraud, estoppel, defamation, infliction of emotional distress, violation of public policy, retaliatory discharge, wrongful or constructive discharge, retaliation, intentional tort or for attorneys’ fees,
which EMPLOYEE or his heirs, executors, administrators, personal representatives or members of his immediate family now have, ever had or may hereafter have, whether known or unknown, suspected or unsuspected, up to and including the date both
Parties have executed this Agreement. 
 9.2. EMPLOYEE, for himself and his heirs, executors, administrators, personal
representatives and members of his immediate family, also hereby waives all rights to file any charge or complaint against IDT arising out of EMPLOYEE’s employment by or termination thereof from IDT before any federal, state or local
administrative agency, except where any law prohibits such waivers. EMPLOYEE, for himself and his heirs, executors, administrators, 

 
personal representatives and members of his immediate family, further waives all rights to recover any damages or equitable or other relief in any claim or
suit brought by or through the Equal Employment Opportunity Commission, or any other federal, state or local agency under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act of 1990, Title VII of the
Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Equal Pay Act, the New Jersey Law Against Discrimination or any other foreign, federal, state, or local discrimination law, except where such waiver is prohibited by law.

 9.3. EMPLOYEE further agrees, promises and covenants that neither he nor his heirs, executors, administrators, personal
representatives, members of his immediate family or any person, organization, or other entity acting on his behalf has filed, charged or claimed, or will file, charge or claim, or will cause or permit to be filed, charged or claimed, any action for
damages or other relief (including injunctive, declaratory, monetary relief or other) against the Released Parties involving any matter occurring in the past up to the Effective Date (as hereafter defined), or involving or based upon any claims,
demands, causes of action, obligations, damages or liabilities which are later discovered. 
 9.4. EMPLOYEE further agrees
that the releases contained in Sections 9.1 through 9.3 above shall survive in the event of a breach by EMPLOYEE (or any person, organization or entity acting on his behalf) of this Agreement, or any representation, warranty, promise,
covenant or other obligation contained herein or therein. 
 9.5. Nothing in this Section 9 or elsewhere in this
Agreement shall serve to release any of the Released Parties, or restrict or prohibit Employee or any of the other Released Parties from filing any charges, making any complaint, recovering damages or any other action purportedly restricted by this
Section 9, in respect of (i) enforcing their rights hereunder, (ii) rights to indemnification (including, without limitation, rights to proceeds of insurance and the right to have expenses advanced or reimbursed) under applicable law,
the by-laws of IDT or any of its subsidiaries, or other agreement with Employee covering similar subject matter, related to actions, inactions or circumstances arising prior to the date hereof, or (iii) any matter arising following the date
hereof. 
 10. No Admission of Liability. The making of this Agreement and anything contained herein is not intended, and shall not be
construed, as an admission that IDT has violated any foreign, federal, state or local law (statutory or common law), ordinance or regulation; breached any contract; or violated any right or obligation that it may owe or may have owed to EMPLOYEE, or
committed any wrong whatsoever against EMPLOYEE. EMPLOYEE further acknowledges, covenants, and agrees that no final findings or final judgments have been made by any court or arbitration panel against IDT in favor of EMPLOYEE, and that EMPLOYEE does
not purport and will not claim to be a prevailing party, for any purpose. 

 11. Confidentiality of Agreement. The Parties agree that the consideration furnished under this
Agreement, the discussions and correspondence that led to this Agreement, and the terms and conditions of this Agreement are confidential. EMPLOYEE represents that he, and any attorney he may have retained to review this Agreement, have not
disclosed the terms or conditions of this Agreement. Except as may be required by law or to enforce the terms hereof, neither EMPLOYEE nor his attorney may disclose the above information to any other person or entity, except that EMPLOYEE may
disclose the provisions of this Agreement to his immediate family members and financial and/or tax advisor, provided that EMPLOYEE makes the person to whom disclosure is made aware of the confidentiality provisions of this Agreement and such
person agrees in writing to keep confidential the terms of this Agreement. If subpoenaed to appear in any civil or criminal litigation, or by any governmental authority, to testify as to the contents of this Agreement, EMPLOYEE agrees to immediately
forward a copy of the subpoena to the Chief Legal Officer of IDT so that IDT may contest such subpoena, or any request, requirement or order related thereto, and to notify the proponent of the subpoena that this Agreement is the subject of an
agreement of confidentiality. IDT may disclose the terms and conditions of this Agreement to its respective officers, directors, employees, accountants and counsel who have a business need to know, and as otherwise required by law. EMPLOYEE further
agrees that he will not encourage others who are not parties to this Agreement to demand any disclosure of the terms and conditions of this Agreement. 
 12. Intellectual Property and Non-Disclosure Obligations. 
 12.1. EMPLOYEE agrees that
he will not file, without the express written consent of the Chief Executive Officer (“CEO”) or Chief Legal Officer (“CLO”) of IDT Corporation, any patent, copyright or trademark applications relating to any
IDT Invention (as hereafter defined), except under the direction of IDT Corporation. As referred to in this Agreement, “IDT Invention” shall mean all ideas, inventions, discoveries, improvements, trade secrets, formulae,
techniques, data, software, programs, systems, specifications, developments, system architectures, documentation, algorithms, flow charts, logic diagrams, source code, methods, processes, marketing and business data, including works-in-progress,
whether or not subject to statutory protection, whether or not reduced to practice, which were conceived, created, authored, developed, or reduced to practice by EMPLOYEE, either alone or jointly with others, whether on the premises of IDT or not,
during his employment by IDT. EMPLOYEE agrees to assist IDT in perfecting, registering, maintaining, and enforcing, in any jurisdiction, IDT’s rights (including such rights as may be assigned by IDT from time to time) in the IDT Inventions by
performing promptly all acts and executing all documents deemed necessary or convenient by IDT and does hereby irrevocably designate and appoint IDT and its duly authorized officers and agents as his agent and attorney-in-fact to do all lawfully
permitted acts (including, but not limited to, the execution, verification and filing of applicable documents) with the same legal force and effect as if performed by him. 

 12.2. EMPLOYEE agrees that he will not, without the express written consent of the CEO or
CLO of IDT Corporation, use the Confidential Information (as hereafter defined). As referred to in this Agreement, “Confidential Information” shall mean technical and business information about IDT, and its clients and
customers that was learned by EMPLOYEE in the course of his employment by IDT and that was not already in the public domain through no fault of EMPLOYEE including, without limitation, any and all proprietary IDT Inventions, any trade secrets,
customer and potential customer names, product plans and designs, licenses and other agreements, marketing and business plans, and other financial and business information of IDT. EMPLOYEE will not duplicate or replicate (or cause or permit others
to duplicate or replicate) any document or other material in any medium embodying any Confidential Information. EMPLOYEE will not disclose or permit the disclosure of any Confidential Information to any person or entity under any circumstances,
unless EMPLOYEE is required to disclose such information by law or pursuant to a judicial order, and in such case, prior written notice to IDT is required where possible. All of the Confidential Information shall remain the sole and exclusive
property of IDT. IDT owns all right, title and interest in and to the Confidential Information and other intellectual property owned by IDT, including, without limitation, the IDT Inventions. EMPLOYEE agrees that he acquired no right, title or
interest in any Confidential Information or the IDT Inventions; and the Confidential Information is specialized, unique in nature, and of great value to IDT and that such Confidential Information gives IDT a competitive advantage. EMPLOYEE hereby
agrees to promptly return to IDT all tangible materials and all copies thereof, in whatever media, in his possession or control, containing or employing any Confidential Information or the IDT Inventions, together with a written certification with
the foregoing. 
 12.3. EMPLOYEE acknowledges and agrees that all copyrights, trademarks, patents and IDT Inventions
conceived, created, authored, developed or reduced to practice by EMPLOYEE during his employment with IDT are the sole and exclusive property of IDT; all copyrightable works included in the IDT Inventions shall be “works made for hire”
within the meaning of the Copyright Act of 1976, as amended (17 U.S.C. §101), and IDT Corporation is the “author” within the meaning of such Act; and in the event that title to any or all of the IDT Inventions does not or may not, by
operation of law, vest in IDT, EMPLOYEE hereby assigns to IDT all his right, title and interest in all IDT Inventions, and all copies of them, in whatever medium fixed or embodied, and in all writings relating thereto in his possession or control
and expressly waives any moral rights or similar rights in any IDT Invention or any such work made for hire. 
 12.4. EMPLOYEE
acknowledges and agrees that: 
 (a) (i) IDT owns all right, title and interest in and to the Confidential Information and IDT
Inventions, and (ii) EMPLOYEE acquired no right, title or interest in any Confidential Information or the IDT Inventions; and 
 (b) The Confidential Information is specialized, unique in nature, and of great value to IDT and that such Confidential Information gives IDT a competitive advantage; and 

 (c) EMPLOYEE hereby agrees to promptly return to IDT all tangible materials and all
copies thereof, in whatever media, in his possession or control, containing or employing any Confidential Information, together with a written certification with the foregoing. 
 13. Non-Competition and Non-Solicitation. 
 13.1. EMPLOYEE acknowledges and agrees that, during the one-year period following the Termination Date: 
 (a) EMPLOYEE shall not, either as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer, director or in any other individual or representative capacity, engage or participate,
invest in (except for investments of less than 5% of a business entity’s capitalization) or become employed by any business that is in competition in any manner whatsoever with the business of IDT as of the Termination Date; 
 (b) EMPLOYEE shall not, directly or indirectly, influence or attempt to influence, or assist or advise any person attempting to influence,
customers, distributors, partners or suppliers of IDT (i) to divert any part of their business away from IDT, (ii) to cause damage to the business of IDT, or (iii) to do any material business with any competitor of IDT; and

 (c) EMPLOYEE shall not, directly or indirectly, except for general solicitations not directed at IDT specifically, solicit
or recruit any employee, officer, partner or consultant of IDT to leave the employment of IDT or terminate his/her relationship with IDT and EMPLOYEE shall not advise or otherwise assist any other person to solicit or recruit any employee, officer,
partner or consultant of IDT. 
 13.2. The Parties agree that the provisions of this Section 13 replace all prior
non-competition and non-solicitation provisions in any agreements between EMPLOYEE and IDT notwithstanding any survival clauses contained therein. The Parties further agree that the provisions of this Section 13 shall be interpreted as
broadly as possible in favor of IDT. 
 14. Non-Disparagement. EMPLOYEE agrees that he will not at any time, in any way, disparage IDT
or any individuals associated with IDT, including its present or former officers, directors, agents and employees, by making or soliciting any comments, statements or the like to the media or to others, either orally or in writing, that may be
considered to be derogatory or detrimental, in any way, to the good name or business reputation of IDT or such other persons. EMPLOYEE further agrees that he will not engage in any conduct that is in any way injurious, or may be perceived to be
injurious, to IDT’s reputation or interest (other than normal competitive process not in violation of this Agreement), including, but not limited to, encouraging or assisting others to bring any form of suit, claim or cause of action against
IDT. 

 15. Breach. EMPLOYEE agrees and acknowledges that if he breaches any representation, covenant,
promise or undertaking made pursuant to this Agreement, IDT is authorized to pursue all rights and remedies available in law or in equity, which rights and remedies may include, but are not limited to, EMPLOYEE’s obligation to promptly return
to IDT all amounts paid by IDT to EMPLOYEE under this Agreement. 
 16. Agreement Not Admissible. The Parties agree that this
Agreement may be used and admitted as evidence only in a subsequent proceeding in which IDT or EMPLOYEE seeks to enforce its/his rights hereunder. 
 17. Representations and Warranties. EMPLOYEE represents and warrants that he has been advised in writing to consult with an attorney before signing this Agreement; that he has had an opportunity to be represented by independent legal
counsel of his own choice throughout all of the negotiations preceding the execution of this Agreement; that he has executed this Agreement after the opportunity for consultation with above-described independent legal counsel; that he is of sound
mind and body, competent to enter into this Agreement, and is fully capable of understanding the terms and conditions of this Agreement; that he has carefully read this Agreement in its entirety; that he has had the opportunity to have the
provisions of this Agreement explained to him by his own counsel, who has answered to his satisfaction any questions he has asked with regard to the meaning of any of the provisions of this Agreement, and that he fully understands their terms and
significance; and that he voluntarily assents to all the terms and conditions contained therein, and that he is signing this Agreement of his own force and will, without any coercion or duress. EMPLOYEE acknowledges and agrees that IDT has advised
that all payments to him must comply with the requirements of Section 409A of the Internal Revenue Code (“409A”) and EMPLOYEE agrees to indemnify and hold harmless IDT from and against any and all taxes, costs and expenses as a
result of any non-compliance with 409A. 
 18. Consideration and Revocation Periods. Pursuant to the Older Workers Benefit Protection
Act, EMPLOYEE is advised that he shall have at least 21 days to consider this Agreement before signing it, but may sign this Agreement at any earlier time if he so desires. If EMPLOYEE signs this Agreement, he shall have 7 calendar days thereafter
(the “Revocation Period”) to revoke this Agreement by indicating his desire to do so, in writing, addressed to IDT Corporation—Legal Department, 520 Broad Street, 4th Floor, Newark, New Jersey 07102 (attention: General
Counsel). In order for such revocation to be effective, it must be received before 5:00 p.m. on the seventh day following the date this Agreement was executed by EMPLOYEE. The effective date of this Agreement shall be the 8th day following the
execution of this Agreement by EMPLOYEE (the “Effective Date”). In the event EMPLOYEE does not accept this Agreement, or in the event EMPLOYEE revokes this Agreement during the Revocation Period, this Agreement, including,
but not limited to, the obligation of IDT to make the payments set forth in Section 1, shall automatically be deemed null and void, and EMPLOYEE shall promptly return to IDT any amounts paid by IDT to EMPLOYEE under this Agreement. 

19. Severability. If, at any time after the date EMPLOYEE executes this Agreement, any provision of this Agreement shall be held to be illegal,
void or unenforceable, such provision shall be of no force and effect, provided that, in the event that any provision of Section 13 is held invalid or unenforceable or is deemed to exceed the time, geographic or scope limitations
permitted by applicable law, then such 

 
provisions shall be reformed to the maximum time, geographic or scope limitations, as the case may be, permitted by applicable laws, and such other changes
shall be made to give effect to the original intent of the Parties. The illegality or unenforceability of any provision shall have no effect upon, and shall not impair the enforceability of, any other provision of this Agreement, provided
that, upon a finding by a court or agency of competent jurisdiction that the release of claims contained in Section 9 is illegal, void or unenforceable, EMPLOYEE agrees that, at the request of IDT, he will execute a release covering all
the same claims as are released under Section 9 that are legal and enforceable, or, if the basis on which the release was found illegal, void or unenforceable cannot be so cured, to return promptly to IDT, upon its request, all amounts
paid to him under this Agreement. 
 20. Prior Agreements Superseded; No Oral Modification. This Agreement constitutes the complete
understanding between the Parties and supersedes any and all prior agreements (whether oral or written) between the Parties (including, but not limited to, all agreements related to commissions and any other payments). EMPLOYEE acknowledges that
neither IDT nor any representative of IDT has made any representation or promises to EMPLOYEE other than as set forth herein. This Agreement may not be modified except in a writing signed by both EMPLOYEE and the CEO of IDT Corporation. 

21. No Assignment of Claims. Each of the Parties represents and warrants that it/he has not assigned or transferred any of the claims released
under this Agreement, or any portion of or interest in any such claims, to any other individual, firm, or other entity. 
 22. Dispute
Resolution. The Parties hereby agree and submit to the exclusive jurisdiction of the Superior Court of New Jersey, Essex County, in any action, lawsuit or other proceeding arising out of or relating to this Agreement. The Parties irrevocably
waive any objection that they may now or hereafter have to the venue of any such action, lawsuit or other proceeding in any such court or that such action, lawsuit or other proceeding was brought in an inconvenient forum, and agree not to plead or
claim the same. 
 23. Choice of Law. This Agreement will be construed and enforced in accordance with the laws of the State of New
Jersey, without regard to its conflict of law rules. 
 24. Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original. Facsimile signatures shall be deemed effective if subsequently followed by handwritten signatures. 
 25.
Construction of Agreement. This Agreement shall be interpreted without regard to the identity of the drafter, and shall not be construed for or against either party. The subheadings in this Agreement are for convenience only and shall not
affect the interpretation of the substantive terms of this Agreement. 
 26. Binding Agreement. This Agreement shall inure to the
benefit of and be binding upon the Parties and their respective heirs, administrators, representatives, executors, successors and assigns. 
 [Signature Page Follows] 

 WHEREFORE, the Parties, by their signatures below, evidence their agreement to the provisions stated above. 

 

			
	IDT CORPORATION
		
	By:	 	 
	Name: Title:	 	
		
	Dated:	 	 

 I HAVE READ AND UNDERSTOOD THIS AGREEMENT, INCLUDING THE GENERAL RELEASE OF ALL CLAIMS
CONTAINED IN SECTION 9, AND AM IN AGREEMENT WITH ITS TERMS. 
  

			
	EMPLOYEE:
	
	 
		
	Name:	 	
		
	Dated:	 	 

  

	
	Sworn to before me this
	
	             day of
                                        .

	
	  
	Notary Public

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