IDT LETTERHEAD]Severance Agreement • October 14th, 2008 • Idt Corp • Telephone communications (no radiotelephone) • New Jersey
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”).
CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASESeparation Agreement • October 14th, 2008 • Idt Corp • Telephone communications (no radiotelephone) • New Jersey
This CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE (“Agreement”), dated as of June 16, 2008 is hereby made between MIKHAIL LEIBOV (“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).
