IDT enters amended employment agreement with COO Pereira through Jan 2027

IDT CORP

Base salary $500,000/year; target bonus $300,000 (with $150K satisfied by equity).
Equity grants: 23,500 DSUs, 50,000 restricted shares of net2phone 2.0, plus additional DSUs.
Contingent bonus up to $1M per milestone (max two) based on revenue or EBITDA targets.
Severance of $800,000 if terminated without cause or resignation for good reason.
Agreement runs from Nov 1, 2023 to Jan 31, 2027, replacing 2017 agreement.

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