Employment Letter Agreement between IDT Corporation and R. Colin Hickey dated July 21, 2005
IDT Corporation offers R. Colin Hickey the position of Vice President – Business Development at its Newark, NJ office, starting July 25, 2005, with a base salary of $160,000 per year and eligibility for an equity program to be determined later. Mr. Hickey will also be eligible for company benefits, including health, dental, life, disability insurance, and a 401(k) plan, after 90 days of employment. Employment is contingent on completing required forms, passing background checks, and providing proof of work authorization. Acceptance must be confirmed within five days.
Exhibit 10.12
 | IDT Corporation 520 Broad Street Newark, NJ 07102 P ###-###-#### F ###-###-#### ***@*** www.idt.net |
July 21, 2005
Mr. R. Colin Hickey
33 Stone Run Road
Bedminster, NJ 07921
Dear Colin:
I am pleased to offer you the position of Vice President – Business Development at IDT Spectrum, to be located at our Newark, New Jersey offices. In this position, you will be reporting to John Petrillo and it is my understanding that you will be starting your employment with IDT on July 25, 2005.
Your Base Salary will be at the rate of $160,000 per year. In addition, you will participate in an equity program to be determined at a later date.
In addition to your Base Salary, you will be eligible, on the first day of the month following your initial 90 days of employment, to participate in IDT’s medical, dental, life and disability programs, as well as in the Company’s 401(k) plan, subject to the terms of the Plans.
Prior to the commencement of your employment, you will be required to complete several administrative forms, including IDT’s Non-Disclosure/Non-Competition Agreement (attached for your review) and an I-9 form, so it is necessary that you bring with you valid proof of your authorization to work in the United States (e.g. Drivers License and Social Security card or Birth Certificate or Passport). Failure to complete the aforementioned forms will delay the commencement of your employment. IDT also conducts investigations, including verification by a third party, of prior employment history, education and record of conviction. Please be aware that false statements or failure to disclose information can disqualify you for employment or, if employed, result in your dismissal.
Please acknowledge your acceptance of our offer by signing below and returning to me within five days of the date of this letter. Please report directly to the Human Resources Department located on the 9th Floor on your first day.
We are very excited about you joining us at IDT.
Sincerely,
| /s/ Charles R. Fredda |
| Charles R. Fredda Director – Human Resources |
| Acknowledged and agreed to: /s/ R. Colin Hickey | Date: July 22, 2005 |
