<SEC-DOCUMENT>0001213900-23-017640.txt : 20230306
<SEC-HEADER>0001213900-23-017640.hdr.sgml : 20230306
<ACCEPTANCE-DATETIME>20230306101103
ACCESSION NUMBER:		0001213900-23-017640
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230306
DATE AS OF CHANGE:		20230306
GROUP MEMBERS:		DEBORAH JONAS

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IDT CORP
		CENTRAL INDEX KEY:			0001005731
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				223415036
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-48167
		FILM NUMBER:		23707850

	BUSINESS ADDRESS:	
		STREET 1:		520 BROAD ST
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102
		BUSINESS PHONE:		973 438 1000

	MAIL ADDRESS:	
		STREET 1:		520 BROAD STREET
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JONAS HOWARD S
		CENTRAL INDEX KEY:			0001034247
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>ea174325-13da5jonas_idtcorp.htm
<DESCRIPTION>AMENDMENT NO. 5 TO SCHEDULE 13D
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13D/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 5*)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IDT CORPORATION</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Issuer) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class B Common Stock, par value $0.01 per share</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Title of Class of Securities) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">448947309</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(CUSIP Number) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Howard S. Jonas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">c/o IDT Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">520 Broad Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Newark, NJ 07102</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<FONT STYLE="font-size: 10pt">973) 438-1000</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">October 26, 2007</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Date of Event which Requires Filing of this
Statement) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is filing this statement because of Rule 13d-1(e), 13d-1(f) or
13d-1(g), check the following box:&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page shall
not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;) or otherwise
subject to the liabilities of that section of the Act but shall be subject to all other provisions of the act (however, see the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 13D/A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;1</FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NAME OF REPORTING PERSON</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Howard S. Jonas&nbsp;&nbsp;</B></P></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font-size: 10pt; width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;2</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&nbsp;&#9746;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&nbsp;&#9744;</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;3</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SEC USE ONLY</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;4</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOURCE OF FUNDS</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>OO</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;5</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) or 2(e)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;6</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>United
States</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-bottom: Black 1.5pt solid; width: 17%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NUMBER&nbsp;OF<BR>
&nbsp;SHARES <BR>
BENEFICIALLY <BR>
OWNED&nbsp;BY <BR>
EACH <BR>
REPORTING <BR>
PERSON <BR>
WITH &nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; width: 5%; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">7</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 78%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SOLE
VOTING POWER </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>5,443</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">8</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SHARED
VOTING POWER<B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>2,960,223</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">9</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SOLE
DISPOSITIVE POWER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>5,443</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">10</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SHARED
DISPOSITIVE POWER<B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>2,960,223 &nbsp;</B></P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>2,965,666</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>12.4%</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>IN</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 13D/A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;1</FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NAME OF REPORTING PERSON</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Deborah Jonas&nbsp;&nbsp;</B></P></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font-size: 10pt; width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;2</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&nbsp;&#9746;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&nbsp;&#9744;</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;3</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SEC USE ONLY</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;4</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOURCE OF FUNDS</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>OO</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;5</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) or 2(e)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;6</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>United States</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="border-bottom: Black 1.5pt solid; vertical-align: middle; width: 17%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NUMBER&nbsp;OF<BR>
SHARES <BR>
BENEFICIALLY <BR>
OWNED&nbsp;BY <BR>
EACH <BR>
REPORTING <BR>
PERSON <BR>
WITH &nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; width: 5%; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">7</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 78%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SOLE
VOTING POWER </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">8</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SHARED
VOTING POWER<B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>540,420</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">9</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SOLE
DISPOSITIVE POWER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">10</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">SHARED
DISPOSITIVE POWER<B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>540,420</B> </P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>540,420</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>2.1%</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt"><B>IN</B></P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 13D/A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Amendment No. 5 to Schedule 13D (this &ldquo;Amendment&rdquo;)
supplements and amends the information contained in the Schedule 13D originally filed with the Securities and Exchange Commission (the
&ldquo;Commission&rdquo;) on May 19, 1998, as previously amended by Amendment No. 1 thereto filed with the Commission on October 23, 1998,
Amendment No. 2 thereto filed with the Commission on March 26, 1999, Amendment No. 3 thereto filed with the Commission on June 23, 2003,
and Amendment No. 4 thereto filed with the Commission on March 5, 2004 (as so amended, the &ldquo;Schedule 13D&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. Security and Issuer </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">This Amendment relates
to the Class B common stock, par value $0.01 per share (&ldquo;Class B Common Stock&rdquo;), of IDT Corporation (the &ldquo;Company&rdquo;
or &ldquo;IDT&rdquo;). The principal executive offices of IDT are located at 520 Broad Street, Newark, New Jersey 07102.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Identity and Background </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">This Amendment is being
filed jointly by Howard S. Jonas and Deborah Jonas (collectively, the &ldquo;Reporting Persons&rdquo;). During the last five years, none
of the Reporting Persons, the general partners or trustees of the Reporting Persons or, to the knowledge of the Reporting Persons, has
been (i) convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violations with respect to such
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Source and Amount of Funds or Other Consideration </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The matters set forth
in Item 4 of this Amendment are incorporated in this Item 3 by reference as if fully set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Purpose of Transaction </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Item 4 is hereby amended
and supplemented as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 14, 2004,
Howard S. Jonas (&ldquo;Mr. Jonas&rdquo;) disposed of 21,750 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 13, 2005,
Mr. Jonas disposed of 27,900 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 8, 2006,
Mr. Jonas disposed of 48,750 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 20, 2006,
Mr. Jonas disposed of 3,750 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 20, 2006,
The Howard S. &amp; Deborah Jonas Foundation sold 180,000 shares of Class B Common Stock at a price of $12.80 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 21, 2006,
Mr. Jonas sold 100,000 shares of Class B Common Stock at a price of $12.85 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On March 21, 2007, Trust
FBO Joseph Jonas, Trust FBO Tamar Jonas, Trust FBO Rachel Jonas, Trust FBO Jonathan Jonas, Trust FBO Leora Jonas, Trust FBO David Jonas,
Trust FBO Michael Jonas, and Trust FBO Samuel Jonas, each sold 31,250 shares of Class B Common Stock at a price of $11.55 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On March 22, 2007, Trust
FBO Joseph Jonas, Trust FBO Tamar Jonas, and Trust FBO Rachel Jonas, each sold 31,250 shares of Class B Common Stock at prices ranging
from $11.79 to $11.84 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On March 23, 2007, Trust
FBO Jonathan Jonas, Trust FBO Leora Jonas, and Trust FBO David Jonas, each sold 31,250 shares of Class B Common Stock at prices ranging
from $11.47 to $11.49 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On March 26, 2007, Trust
FBO Michael Jonas sold 4,032 shares of Class B Common Stock at a price of $11.45 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On March 27, 2007, Trust
FBO Michael Jonas sold 27,218 shares of Class B Common Stock, and Trust FBO Shmuel Jonas sold 31,250 shares of Class B Common Stock at
prices ranging from $11.36 to $11.37 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 26, 2007,
Mr. Jonas transferred 1,100,000 shares of Class A Common Stock and 700,000 shares of Class B Common Stock from his direct holdings to
The Howard S. Jonas 2007 Annuity Trust. Also on October 26, 2007, The Howard S. Jonas 1998 Annuity Trust transferred 229,108 shares of
Class B Common Stock to Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 17, 2007,
Mr. Jonas transferred 75,465 shares of Class B Common Stock from his direct holdings to various individuals and entities, including to
his children&rsquo;s trusts, via bona fide gifts as follows: 2,795 shares to Trust FBO Joseph Jonas, 2,795 shares to Trust FBO Tamar Jonas,
2,795 shares to Trust FBO Rachel Jonas, 2,795 shares to Trust FBO Jonathan Jonas, 2,795 shares to Trust FBO Leora Jonas, and 2,795 shares
to Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 19, 2007,
The Howard S. &amp; Deborah Jonas Foundation sold 120,000 shares of Class B Common Stock at a price of $8.73 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On September 3, 2008,
Mr. Jonas received a grant of 1,704,545 restricted shares of Common Stock that was scheduled to vest in full on January 5, 2012 and which
was subsequently replaced by a separate grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 31, 2008,
<FONT STYLE="background-color: white">Mr. Jonas received a grant of 3,529,063 restricted shares of Class B Common Stock that have since
vested, and <FONT STYLE="font-family: Times New Roman, Times, Serif">a grant of 2,650,000 restricted shares of Common Stock that have
since vested (the latter grant was in replacement of the September 3, 2008 grant of 1,704,545 restricted shares of Common Stock which
prior grant was cancelled). </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
February 24, 2009, the Company implemented a one-for-three reverse stock split of each share of the Company&rsquo;s Common, Class B, and
Class A Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
August 11, 2009, Mr. Jonas transferred 510,030 shares of Class A Common Stock from his direct holdings to The Howard S. Jonas 2009 Annuity
Trust I, and 973,333 shares of Class A Common Stock from his direct holdings to The Howard S. Jonas 2009 Annuity Trust II. Also on August
11, 2009, The Howard S. Jonas 2007 Annuity Trust transferred 366,666 shares of Class A Common Stock to The Howard S. Jonas 2009 Annuity
Trust II, and 233,333 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">On
June 7, 2010, Mr. </FONT>Jonas disposed of 650 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 4, 2010, The
Howard S. Jonas 2009 Annuity Trust transferred 23,217 shares of Class A Common Stock to Mr. Jonas&rsquo; direct holdings, and The Howard
S. Jonas 2009 Annuity Trust II transferred 30,715 shares of Class A Common Stock to Mr. Jonas&rsquo; direct holdings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On February 18, 2011,
Mr. Jonas disposed of 8,800 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 4, 2011, (i)
<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas disposed of 883,333 shares of Common Stock
in exchange for Class B Common Stock for an identical number of shares of Class B Common Stock pursuant to the Company&rsquo;s amendment
to its certificate of incorporation whereby each share of Common Stock was converted into one share of Class B Common Stock, and (ii)
The Howard S. &amp; Deborah Jonas Foundation and The Jonas Foundation disposed of 333,333 and 275,047 shares of Common Stock, respectively,
in exchange for the same number of shares of Class B Common Stock. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
April 5, 2011, The Howard S. Jonas 2009 Annuity Trust I and The Howard S. Jonas 2009 Annuity Trust II disposed of 388,716 and 1,309,284
shares of Class A Common Stock, respectively, in exchange for shares of Class B Common Stock on a one-for-one basis pursuant to an Exchange
Agreement entered into on April 5, 2011 between these trusts and the Company. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 20, 2011, Mr.
Jonas sold 302,000 shares of Class B Common Stock to the Company at a price of $24.83 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 21, 2011, the
Jonas Family Limited Partnership, of which <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas
was the sole general partner and of which Mr. Jonas and his wife were the sole limited partners, transferred to Mr. Jonas&rsquo; direct
holdings 6,523 shares of Class A Common Stock and 6,523 shares of Class B Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 27, 2011,
Mr. Jonas transferred 28,594 shares of Class B Common Stock from his direct holdings to The Jonas Foundation, and separately disposed
of 12,800 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On July 2, 2012, Mr.
Jonas&rsquo; Company 401(k) plan account received 254 shares of Class B Common Stock, granted by the Company as part of a 401(k) match.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On August 7, 2012, Mr.
Jonas transferred 98,097 shares of Class B Common Stock from his direct holdings to The Howard S. Jonas 2009 Annuity Trust I, in exchange
for 98,097 shares of Class A Common Stock, which were transferred from The Howard S. Jonas 2009 Annuity Trust I to Mr. Jonas&rsquo; direct
holdings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On September 17, 2012,
The Howard S. Jonas 2009 Annuity Trust I and The Howard S. Jonas 2009 Annuity Trust II transferred 486,813 and 39,857 shares of Class
B Common Stock, respectively, to Mr. Jonas and trusts for the benefit of his children, as follows: 69,140 shares to Mr. Jonas&rsquo; direct
holdings, 45,867 shares to Trust FBO Joseph Jonas, 45,867 shares to Trust FBO Tamar Jonas, 45,867 shares to Trust FBO Rachel Jonas, 45,867
shares to Trust FBO Leora Jonas, 45,867 shares to Trust FBO David Jonas, 45,867 shares to Trust FBO Michael Jonas, 45,867 shares to Trust
FBO Samuel Jonas, 45,867 shares to Trust FBO Jonathan Jonas, and 90,594 shares to Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 14, 2012,
Mr. Jonas disposed of 460,000 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On January 18, 2013,
Mr. Jonas disposed of 21,000 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On May 28, 2013, Mr.
Jonas&rsquo; Company 401(k) plan account received 111 shares of Class B Common Stock, granted by the Company as part of a 401(k) match.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On September 24, 2013,
Mr. Jonas disposed of 29,250 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 9, 2013, Mr.
Jonas disposed of 14,374 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On January 6, 2014, Mr.
Jonas received a g<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">rant of 63,320 shares of restricted
Class B Common Stock, which have since vested. At the time of the grant, 21,106 shares were withheld by the Company for tax purposes.
Also on January 6, 2014, Mr. Jonas disposed of 12,125 shares of Class B Common Stock via bona fide gift to one or more third parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
August 22, 2014, Mr. Jonas transferred 1,031,026 shares of Class B Common Stock from his direct holdings to The Howard S. Jonas 2014 Annuity
Trust, and 192,741 shares of Class B Common Stock from his direct holdings to The Howard S. Jonas 2009 Annuity Trust II.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">On
December 3, 2014, The Howard S. Jonas 2009 Annuity Trust II transferred 1,462,168 shares of Class B Common Stock to trusts for the benefit
of Mr. Jonas&rsquo; children, as follows: </FONT>162,463 shares to Trust FBO Joseph Jonas, 162,463 shares to Trust FBO Tamar Jonas, 162,463
shares to Trust FBO Rachel Jonas, 162,463 shares to Trust FBO Leora Jonas, 162,463 shares to Trust FBO David Jonas, 16,760 shares to Trust
FBO Michael Jonas, 162,463 shares to Trust FBO Samuel Jonas, 162,463 shares to Trust FBO Jonathan Jonas, and 162,464 shares to Trust FBO
Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On January 22, 2015,
Mr. Jonas disposed of 1,450 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 24, 2015, The
Howard S. Jonas 2014 Annuity Trust transferred 149,280 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings. On June 25,
2015, Mr. Jonas sold 404,967 shares of Class B Common Stock to the Company at a price of $18.52 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
September 2, 2015, The Howard S. Jonas 2014 Annuity Trust transferred 251,938 shares of Class B Common Stock to Mr. Jonas&rsquo; direct
holdings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 23, 2015,
Mr. Jonas disposed of 11,895 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On January 13, 2016,
Mr. Jonas disposed of 875 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 17, 2016, Mr.
Jonas <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">transferred 165,001 shares of Class B Common Stock
from his direct holdings to trusts for the benefit of his children, as follows: </FONT>19,722 shares to Trust FBO Joseph Jonas, 19,769
shares to Trust FBO Tamar Jonas, 19,684 shares to Trust FBO Rachel Jonas, 19,891 shares to Trust FBO Leora Jonas, 9,051 shares to Trust
FBO David Jonas, 16,760 shares to Trust FBO Michael Jonas, 19,912 shares to Trust FBO Samuel Jonas, 20,128 shares to Trust FBO Jonathan
Jonas, and 20,084 shares to Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On September 29, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.53 per share, as follows: 1,416 shares sold by </FONT>Trust
FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust
FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust FBO
Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust FBO
Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust FBO David
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust FBO Michael
Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 1,416 </FONT>shares sold by Trust FBO Samuel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust FBO Jonathan
Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,416 </FONT>shares sold by Trust FBO Miriam
Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On September 30, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.50 per share</FONT>: <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">110
shares sold by </FONT>Trust FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">110 </FONT>shares
sold by Trust FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">110 </FONT>shares sold
by Trust FBO Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">109 </FONT>shares sold by
Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">109 </FONT>shares sold by Trust
FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">109 </FONT>shares sold by Trust FBO
Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 109 </FONT>shares sold by Trust FBO Samuel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">109 </FONT>shares sold by Trust FBO Jonathan
Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">109 </FONT>shares sold by Trust FBO Miriam
Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 7, 2016, trusts
for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children each sold
shares of the Company&rsquo;s Class B Common Stock at a price of $17.57 per share, as follows: 1,789 shares sold by </FONT>Trust FBO Joseph
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,789 </FONT>shares sold by Trust FBO Tamar Jonas,
<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,789 </FONT>shares sold by Trust FBO Rachel Jonas,
<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,789 </FONT>shares sold by Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,789
</FONT>shares sold by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,789 </FONT>shares
sold by Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 1,789 </FONT>shares
sold by Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,790 </FONT>shares
sold by Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,789 </FONT>shares
sold by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 10, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of </FONT>$17.92 per share: <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,584
shares sold by </FONT>Trust FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,584
</FONT>shares sold by Trust FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,584 </FONT>shares
sold by Trust FBO Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,585 </FONT>shares
sold by Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,585 </FONT>shares sold
by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,584 </FONT>shares sold by
Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 3,584 </FONT>shares sold by
Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,584 </FONT>shares sold by
Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">3,584 </FONT>shares sold
by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 11, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.82 per share, as follows: 2,718 shares sold by </FONT>Trust
FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust
FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust FBO
Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust FBO
Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust FBO David
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust FBO Michael
Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 2,718 </FONT>shares sold by Trust FBO Samuel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust FBO Jonathan
Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,718 </FONT>shares sold by Trust FBO Miriam
Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 12, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of </FONT>$17.58 per share: <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895
shares sold by </FONT>Trust FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895
</FONT>shares sold by Trust FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895 </FONT>shares
sold by Trust FBO Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895 </FONT>shares
sold by Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895 </FONT>shares sold
by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,896 </FONT>shares sold by
Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 1,895 </FONT>shares sold by
Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895 </FONT>shares sold by
Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,895 </FONT>shares sold
by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 13, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.57 per share, as follows: 985 shares sold by </FONT>Trust
FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">985 </FONT>shares sold by Trust FBO
Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">985 </FONT>shares sold by Trust FBO Rachel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">985 </FONT>shares sold by Trust FBO Leora Jonas,
<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">985 </FONT>shares sold by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">984
</FONT>shares sold by Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 985 </FONT>shares
sold by Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">985 </FONT>shares sold
by Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">985 </FONT>shares sold
by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 14, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at</FONT> a price of $17.53 per share: <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">932
shares sold by </FONT>Trust FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">931 </FONT>shares
sold by Trust FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">931 </FONT>shares sold
by Trust FBO Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">931 </FONT>shares sold by
Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">931 </FONT>shares sold by Trust
FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">932 </FONT>shares sold by Trust FBO
Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 932 </FONT>shares sold by Trust FBO Samuel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">931 </FONT>shares sold by Trust FBO Jonathan
Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">932 </FONT>shares sold by Trust FBO Miriam
Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 17, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.50 per share, as follows: 182 shares sold by </FONT>Trust
FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">183 </FONT>shares sold by Trust FBO
Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">183 </FONT>shares sold by Trust FBO Rachel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">182 </FONT>shares sold by Trust FBO Leora Jonas,
<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">182 </FONT>shares sold by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">182
</FONT>shares sold by Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 182 </FONT>shares
sold by Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">182 </FONT>shares sold
by Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">182 </FONT>shares sold
by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 18, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock</FONT> at a price of $17.64 per share: <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,030
shares sold by </FONT>Trust FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,030
</FONT>shares sold by Trust FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,030 </FONT>shares
sold by Trust FBO Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,031 </FONT>shares
sold by Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,031 </FONT>shares sold
by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,031 </FONT>shares sold by
Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 2,030 </FONT>shares sold by
Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,031 </FONT>shares sold by
Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,030 </FONT>shares sold
by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 19, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.75 per share, as follows: 2,443 shares sold by </FONT>Trust
FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,443 </FONT>shares sold by Trust
FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,443 </FONT>shares sold by Trust FBO
Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,442 </FONT>shares sold by Trust FBO
Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,442 </FONT>shares sold by Trust FBO David
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,442 </FONT>shares sold by Trust FBO Michael
Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 2,443 </FONT>shares sold by Trust FBO Samuel
Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,442 </FONT>shares sold by Trust FBO Jonathan
Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">2,443 </FONT>shares sold by Trust FBO Miriam
Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 20, 2016,
trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr. Jonas&rsquo; children
each sold shares of the Company&rsquo;s Class B Common Stock at a price of $17.55 per share</FONT>: <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,916
shares sold by </FONT>Trust FBO Joseph Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,916
</FONT>shares sold by Trust FBO Tamar Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,916 </FONT>shares
sold by Trust FBO Rachel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,917 </FONT>shares
sold by Trust FBO Leora Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,917 </FONT>shares sold
by Trust FBO David Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,917 </FONT>shares sold by
Trust FBO Michael Jonas<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">, 1,917 </FONT>shares sold by
Trust FBO Samuel Jonas, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,917 </FONT>shares sold by
Trust FBO Jonathan Jonas, and <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">1,917 </FONT>shares sold
by Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 21, 2016,
Trust FBO <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Michael Jonas </FONT>transferred a total of
157,681 shares of Class B Common Stock, as follows: 76,753 shares were transferred to Mr. Jonas&rsquo; direct holdings, 10,116 shares
were transferred to Trust FBO Joseph Jonas, 10,116 shares were transferred to Trust FBO Tamar Jonas, 10,116 shares were transferred to
Trust FBO Rachel Jonas, 10,116 shares were transferred to Trust FBO Leora Jonas, 10,116 shares were transferred to Trust FBO David Jonas,
10,116 shares were transferred to Trust FBO Samuel Jonas, 10,116 shares were transferred to Trust FBO Jonathan Jonas, and 10,116 shares
were transferred to Trust FBO Miriam Jonas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
December 22, 2016, Mr. Jonas disposed of 9,750 shares of Class B Common Stock via bona fide gift to one or more third parties. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On January 5, 2017, Mr.
Jonas received a grant of 69,624 shares of restricted Class B Common Stock, which have since vested<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">.
At the time of the grant, 23,208 shares were withheld by the Company for tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 11, 2017, Mr.
Jonas purchased 728,332 shares of Class B Common Stock from the Company, at a price of $13.73 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On May 2, 2017, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr.
Jonas received a grant of an option to purchase 1,000,000 shares of Class B Common Stock that was immediately exercisable. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 9, 2017, Mr.
Jonas purchased 1,000,000 shares of Class B Common Stock from the Company at a price of $14.93 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 14, 2017, Mr.
Jonas <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">transferred 92,359 shares of Class B Common Stock
from his direct holdings to trusts for the benefit of his children over which he does not exercise or share investment control and thus
he disclaims beneficial ownership of these shares. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
July 13, 2017, Mr. Jonas transferred 1,736,276 shares from his direct holdings to The Howard S. Jonas 2017 Annuity Trust.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
November 1, 2017, Mr. Jonas disposed of 25,200 shares of Class B Common Stock via bona fide gift to one or more third parties. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On November 28, 2017,
<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">The Howard S. Jonas 2014 Annuity Trust transferred 178,696
shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 25, 2018, <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">The
Howard S. Jonas 2017 Annuity Trust transferred 1,464,739 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On July 10, 2018, Mr.
Jonas <FONT STYLE="background-color: white">transferred 1,574,326 shares of Class A Common Stock and 1,659,722 shares of Class B Common
Stock from his direct holdings to The Howard S. Jonas 2017 Annuity Trust and <FONT STYLE="font-family: Times New Roman, Times, Serif">disposed
of 64,380 shares of Class B Common Stock via bona fide gift to one or more third parties. </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
August 23, 2018, The Howard S. Jonas 2014 Annuity Trust transferred 451,112 shares of Class B Common Stock to The Howard S. Jonas 2017
Annuity Trust. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 21, 2018,
Mr. Jonas purchased 2,546,689 shares of Class B Common Stock from the Company at a price of $5.89 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On March 19, 2019, Trust
FBO Michael Jonas <FONT STYLE="background-color: white">transferred 33,960 <FONT STYLE="font-family: Times New Roman, Times, Serif">shares
of Class B Common Stock to trusts for the benefit of Mr. Jonas&rsquo; other children in equal parts. </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">On
July 2, 2019, Mr. Jonas transferred 2,570,939 shares of Class B Common Stock from his direct holdings to The HSJ 2019 IDT Annuity Trust.
Also on July 2, 2019, Deborah Jonas was removed as the trustee of certain </FONT>trusts for the benefit of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Mr.
Jonas&rsquo; children and was replaced with an independent trustee. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On August 7, 2019, <FONT STYLE="background-color: white">The
HSJ 2019 IDT Annuity Trust transferred 2,570,939 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On August 15, 2019, <FONT STYLE="background-color: white">Mr.
Jonas gifted 2,570,939 shares of Class B Common Stock from his direct holdings to The HSJ 2019 IDT Annuity Trust II. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 6, 2020, <FONT STYLE="background-color: white">The
Howard S. Jonas 2017 Annuity Trust transferred 1,574,326 shares of Class A Common Stock and 2,382,371 shares of Class B Common Stock in
substantially equal amounts to eight trusts for the benefit of Mr. Jonas&rsquo; children. Mr. Jonas no longer has or reports beneficial
ownership of these shares as there is an independent trustee for such trusts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 7, 2020, T<FONT STYLE="background-color: white">he
HSJ 2019 IDT Annuity Trust II transferred </FONT>2,570,939 shares of Class B Common Stock <FONT STYLE="background-color: white">to Mr.
Jonas&rsquo; direct holdings. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
April 14, 2020, Mr. Jonas disposed of 68,040 shares of Class B Common Stock via bona fide gift to one or more third parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On June 5, 2020, Mr.
Jonas transferred <FONT STYLE="background-color: white">2,502,899 shares Class B Common Stock from his direct holdings to The HSJ 2020
IDT Annuity Trust. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On August 12, 2021, <FONT STYLE="background-color: white">The
HSJ 2020 IDT Annuity Trust transferred 163,767 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
August 17, 2021, The HSJ 2020 IDT Annuity Trust transferred 119,311 shares of Class B Common Stock to The HSJ 2020 IDW-Zedge Annuity Trust.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On October 22, 2021,
<FONT STYLE="background-color: white">The HSJ 2020 IDW-Zedge Annuity Trust transferred 119,311 shares of Class B Common Stock to Mr. Jonas&rsquo;
direct holdings, and The HSJ 2020 IDT Annuity Trust transferred 92,076 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
November 10, 2021, Mr. Jonas disposed of 7,575 shares of Class B Common Stock via bona fide gift to one or more third parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On December 30, 2021,
Mr. Jonas transferred 342,779 shares of Class B Common Stock from his direct holdings to Chartwell Holding, LLC, in which Mr. Jonas is
the sole member and beneficiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 21, 2022, <FONT STYLE="background-color: white">The
HSJ 2020 IDT Annuity Trust</FONT> sold <FONT STYLE="background-color: white">42,896 shares of Class B Common Stock at a price of $30.63
per share, and on April 22, 2020, The HSJ 2020 IDT Annuity Trust sold 10,047 shares of Class B Common Stock, at a price of $29.22 per
share. The combined proceeds of these sales were loaned by The HSJ 2020 IDT Annuity Trust to Mr. Jonas and utilized by Mr. Jonas to pay
certain of the tax withholding obligation that arose upon his exercise of certain options to purchase Class B common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="background-color: white">On
April 25, 2022, Mr. Jonas exercised an option to purchase 563,149 shares of Class B Common Stock, of which 292,751 shares were withheld
by the Company to pay the exercise price and 55,972 shares were withheld by the Company to pay certain of the tax withholding obligation
that arose upon Mr. Jonas&rsquo; exercise of the option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 28, 2022, Mr.
Jonas exercised an option to purchase 436,851 shares of Class B Common Stock, of which <FONT STYLE="font-family: Times New Roman, Times, Serif">235,884
shares were withheld by the Company to pay the exercise price, and 81,392 shares were withheld by the Company to pay certain of the tax
withholding obligation that arose upon Mr. Jonas&rsquo; exercise of the option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On August 16, 2022, Mr.
Jonas disposed of 13,800 shares of Class B Common Stock via bona fide gift to one or more third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On August 17, 2022, The
HSJ 2020 IDT Annuity Trust transferred 263,091 shares of Class B Common Stock to Mr. Jonas&rsquo; direct holdings, and Mr. Jonas transferred
608,092 shares of Class B Common Stock from his direct holdings to The HSJ 2022 IDT Annuity Trust I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Interest in Securities of the Issuer </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Items 5(a) and (b) are
hereby amended by deleting them in their entirety and substituting the following therefor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">(a) As of the date of
this Amendment, Howard S. Jonas beneficially owned the following number of shares and percentages of Class B Common Stock: (i) 1,556 shares
of Class B Common Stock held in a custodial account for the benefit of a child of Mr. Jonas (of which Mr. Jonas is the custodian); (ii)
197,641 shares of Class B Common Stock owned by The Jonas Foundation; (iii) 1,811,711 shares of Class B Common Stock held by The HSJ 2020
IDT Annuity Trust; (iv) 608,092 shares of Class B Common Stock held by The HSJ 2022 Annuity Trust I; (v) 342,779 shares of Class B Common
Stock held by Chartwell Holding, LLC; and (vi) 3,887 shares of Class B Common Stock held by Mr. Jonas in his IDT Corporation 401(k) Plan
account as of January 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Mr. Jonas&rsquo; beneficial ownership represents
approximately 12.4% of the issued and outstanding shares of Class B Common Stock and 4.2% of the combined voting power of the Company&rsquo;s
outstanding capital stock, based on <FONT STYLE="font-family: Times New Roman, Times, Serif">1,574,326&nbsp;shares of Class&nbsp;A Common
Stock and </FONT>23,934,705 shares of Class B Common Stock<FONT STYLE="font-family: Times New Roman, Times, Serif">,</FONT> issued and
outstanding as of December 7, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">As of the date of this
Amendment, Deborah Jonas beneficially owned the following number of shares and percentages of Class B Common Stock: (i) 197,641 shares
of Class B Common Stock owned by The Jonas Foundation; and (ii) 342,779 shares of Class B Common Stock held by Chartwell Holding, LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Deborah Jonas&rsquo; beneficial ownership represents
approximately 2.1% of the issued and outstanding shares of Class B Common Stock and 0.8% of the combined voting power of the Company&rsquo;s
outstanding capital stock, based on <FONT STYLE="font-family: Times New Roman, Times, Serif">1,574,326&nbsp;shares of Class&nbsp;A Common
Stock and </FONT>23,934,705 shares of Class B Common Stock<FONT STYLE="font-family: Times New Roman, Times, Serif">,</FONT> issued and
outstanding as of December 7, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">(b) This filing relates
to shares that are owned directly by either of the Reporting Persons, shares that are beneficially owned by the Reporting Persons, and
shares that are owned by trusts and other entities that are for the benefit of the Reporting Persons&rsquo; children or where either of
the Reporting Persons and such children hold the pecuniary interests in the shares. In certain instances, Howard S. Jonas may be in a
position to influence voting or dispositive decisions notwithstanding his having no legal or formal voting or dispositive control over
the shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">This filing identifies
Howard S. Jonas as having joint control, including the power to cast or to direct the casting of one-tenth of a vote per share, as well
as to dispose or to direct the disposition of such shares, over the following shares: (i) 1,811,711 shares of Class B Common Stock held
by The HSJ 2020 IDT Annuity Trust, of which David Polinsky serves as trustee; (ii) 608,092 shares of Class B Common Stock held by The
HSJ 2022 Annuity Trust I, of which David Polinsky serves as trustee; (iii) 197,641 shares of Class B Common Stock held by The Jonas Foundation,
of which Mr. Jonas and his wife, Deborah Jonas, serve as co-trustees; and (iv) <FONT STYLE="font-family: Times New Roman, Times, Serif">342,779
shares of Class B Common Stock held by Chartwell Holding, LLC, of which Mr. Jonas and Deborah Jonas are the sole beneficiaries</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">This filing identifies
Deborah Jonas as having joint control, including the power to cast or to direct the casting of one-tenth of a vote per share, as well
as to dispose or to direct the disposition of such shares, over the following shares: (i) 197,641 shares of Class B Common Stock held
by The Jonas Foundation, of which Mr. Jonas and Deborah Jonas serve as co-trustees; and (ii) <FONT STYLE="font-family: Times New Roman, Times, Serif">342,779
shares of Class B Common Stock held by Chartwell Holding, LLC, of which Mr. Jonas and Deborah Jonas are the sole beneficiaries</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">(c) Except as described
herein, no transactions in the Class B Common Stock were effectuated by any of the Reporting Persons during the 60 days prior to the date
of this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">(d) Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">(e) As of July 2, 2019,
Deborah Jonas ceased to be the beneficial owner of more than 5% of Class B Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer </B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The matters set forth
in item 4 of this Amendment are incorporated in this Item 6 by reference as if fully set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Material to be Filed as Exhibits </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: March 6, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%"><FONT STYLE="font-size: 10pt"><I>/s/ Howard S. Jonas </I></FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Howard S. Jonas</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%"><FONT STYLE="font-size: 10pt"><I>/s/ Deborah Jonas </I></FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Deborah Jonas</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 88pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 88pt"><B>&nbsp;</B></P>



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