0001193125-08-038589 Sample Contracts

RESTRICTED STOCK AWARD AGREEMENT UNDER THE ARBINET-THEXCHANGE, INC.
Restricted Stock Award Agreement • February 26th, 2008 • Arbinet Thexchange Inc • Services-business services, nec • New Jersey

Pursuant to the Arbinet-thexchange, Inc. 2004 Stock Incentive Plan as amended through the date hereof (the “Plan”), Arbinet-thexchange, Inc. (the “Company”) hereby grants a Restricted Stock Award (an “Award”) to the Participant named above. Upon acceptance of this Award, the Participant shall receive the number of shares of Common Stock, par value $0.001 per share (the “Stock”), of the Company specified above, subject to the restrictions and conditions set forth herein and in the Plan (the “Restricted Stock”).

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RESTRICTED STOCK AWARD AGREEMENT UNDER THE ARBINET-THEXCHANGE, INC.
Restricted Stock Award Agreement • February 26th, 2008 • Arbinet Thexchange Inc • Services-business services, nec • New Jersey

Pursuant to the Arbinet-thexchange, Inc. 2004 Stock Incentive Plan as amended through the date hereof (the “Plan”), Arbinet-thexchange, Inc. (the “Company”) hereby grants a Restricted Stock Award (an “Award”) to the Participant named above. No shares of Common Stock, par value $0.001 per share (the “Stock”), of the Company shall be issued unless the provisions of Section 2 are satisfied.

STOCK APPRECIATION RIGHTS AGREEMENT UNDER THE ARBINET-THEXCHANGE, INC.
Stock Appreciation Rights Agreement • February 26th, 2008 • Arbinet Thexchange Inc • Services-business services, nec • New Jersey

Pursuant to the Arbinet-thexchange, Inc. 2004 Stock Incentive Plan as amended through the date hereof (the “Plan”), Arbinet-thexchange, Inc. (the “Company”) hereby grants to the Participant named above an award (the “Award”) equal to the number of Stock Appreciation Rights (“SARs”) specified above. This Award shall give the Participant the right to exercise on or prior to the Expiration Date specified above all or part of the number of SARs specified above at the Exercise Price per Share specified above, and to receive a payment in accordance with Section 2 of this Agreement, subject to the terms and conditions set forth herein and in the Plan. Each of the SARs granted herein relates to one share of the Common Stock, par value $0.001 per share (the “Stock”), of the Company.

RESTRICTED STOCK UNIT AWARD AGREEMENT UNDER THE ARBINET-THEXCHANGE, INC.
Restricted Stock Unit Award Agreement • February 26th, 2008 • Arbinet Thexchange Inc • Services-business services, nec • New Jersey

Pursuant to the Arbinet-thexchange, Inc. 2004 Stock Incentive Plan as amended through the date hereof (the “Plan”), Arbinet-thexchange, Inc. (the “Company”) hereby grants the number of Restricted Stock Units (“RSUs”) specified above (the “Award”) to the Participant named above. The Award represents a promise to pay the Participant one share of common stock, par value $0.001 per share (the “Stock”), of the Company for each RSU, subject to the restrictions and conditions set forth herein and in the Plan.

Arbinet-thexchange, Inc. Non-Qualified Stock Option Agreement Granted Under 2004 Stock Incentive Plan
Non-Qualified Stock Option Agreement • February 26th, 2008 • Arbinet Thexchange Inc • Services-business services, nec • New Jersey
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