<SEC-DOCUMENT>0001493152-25-020225.txt : 20251030
<SEC-HEADER>0001493152-25-020225.hdr.sgml : 20251030
<ACCEPTANCE-DATETIME>20251030161559
ACCESSION NUMBER:		0001493152-25-020225
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20251030
FILED AS OF DATE:		20251030
DATE AS OF CHANGE:		20251030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IDT CORP
		CENTRAL INDEX KEY:			0001005731
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		ORGANIZATION NAME:           	06 Technology
		EIN:				223415036
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16371
		FILM NUMBER:		251435783

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>formdef14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2025" xmlns:us-gaap="http://fasb.org/us-gaap/2025" xmlns:us-roles="http://fasb.org/us-roles/2025" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:ecd="http://xbrl.sec.gov/ecd/2025" xmlns:country="http://xbrl.sec.gov/country/2025" xmlns:srt="http://fasb.org/srt/2025" xmlns:IDT="http://idt.net/20250731">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html"/>
</head>
<!-- Field: Set; Name: xdx; ID: xdx_02B_ECD%2D2025 -->
<!-- Field: Set; Name: xdx; ID: xdx_039_IDT_idt.net_20250731 -->
<!-- Field: Set; Name: xdx; ID: xdx_049_20240801_20250731 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_05B_edei%2D%2DEntityCentralIndexKey_0001005731 -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_065_Ratio_4_xbrli%2D%2Dpure -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
 <ix:hidden>
  <ix:nonNumeric contextRef="From2024-08-01to2025-07-31" id="Fact000003" name="dei:AmendmentFlag">false</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2024-08-01to2025-07-31" id="Fact000004" name="dei:EntityCentralIndexKey">0001005731</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2024-08-01to2025-07-31" id="xdx2ixbrl0011" name="dei:DocumentType">DEF 14A</ix:nonNumeric>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="idt-20250731.xsd" xlink:type="simple"/>
  </ix:references>
 <ix:resources>
    <xbrli:context id="From2024-08-01to2025-07-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2020-08-012021-07-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-08-01</xbrli:startDate>
        <xbrli:endDate>2021-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingEquityAwardsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2025-07-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingAndUnvestedEquityAwardsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2025-07-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-08-01</xbrli:startDate>
        <xbrli:endDate>2025-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingEquityAwardsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2024-07-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsUnvestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsUnvestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingAndUnvestedEquityAwardsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2024-07-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingAndUnvestedEquityAwardsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2023-07-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2023-08-01</xbrli:startDate>
        <xbrli:endDate>2024-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingEquityAwardsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2023-07-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-01</xbrli:startDate>
        <xbrli:endDate>2023-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_ecd_PeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_ecd_PeoMember_custom_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_ecd_PeoMember_custom_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_ecd_NonPeoNeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2022-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2020-08-012021-07-31_ecd_PeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-08-01</xbrli:startDate>
        <xbrli:endDate>2021-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2020-08-012021-07-31_ecd_NonPeoNeoMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001005731</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-08-01</xbrli:startDate>
        <xbrli:endDate>2021-07-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
    <xbrli:unit id="Ratio">
      <xbrli:measure>xbrli:pure</xbrli:measure>
    </xbrli:unit>
  </ix:resources>
 </ix:header>
</div>


<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"></p>

<!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 4pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>UNITED
STATES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>SECURITIES
AND EXCHANGE COMMISSION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>Washington,
D.C. 20549</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b><span id="xdx_906_edei--DocumentType_dxL_c20240801__20250731_zIKb7PbbHtc5" title="::XDX::DEF 14A"><span style="-sec-ix-hidden: xdx2ixbrl0011">SCHEDULE
14A</span></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proxy
Statement Pursuant to Section 14(a) of the</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Securities
Exchange Act of 1934</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by the Registrant &#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by a Party other than the Registrant &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary
    Proxy Statement</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Confidential,
    for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
    Proxy Statement</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
    Additional Materials</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
    Material under Rule 14a-12</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b><span id="xdx_90B_edei--EntityRegistrantName_c20240801__20250731_zNHIIwNQUUJ5"><ix:nonNumeric contextRef="From2024-08-01to2025-07-31" id="Fact000012" name="dei:EntityRegistrantName">IDT
Corporation</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Name
of Registrant as Specified In Its Charter)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment
of Filing Fee (Check the appropriate box):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
    fee required.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    computed on table below per Exchange Act Rule 14a-6(i)(1), and 0-11.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
    of each class of securities to which transaction applies:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
    number of securities to which transaction applies:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
    unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
    filing fee is calculated and state how it was determined):</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed
    maximum aggregate value of transaction:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    fee paid:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    paid previously with preliminary materials.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
    box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting
    fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its
    filing.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount
    Previously Paid:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form,
    Schedule or Registration Statement No.:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing
    Party:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
    Filed:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1pt solid; font-size: 1pt; border-bottom: Black 4pt solid">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="width: 34%">&#160;</td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IDT
CORPORATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>520
Broad Street</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Newark,
New Jersey 07102</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(973)
438-1000</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTICE
OF ANNUAL MEETING OF STOCKHOLDERS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TIME
    AND DATE:</b></span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11:00
    a.m., local time, Thursday, December 11, 2025</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PLACE:</b></span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offices
    of IDT Corporation, 520 Broad Street, Newark, New Jersey 07102</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEMS
    OF BUSINESS:</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    elect five directors, each for a term of one year.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    approve an amendment to the IDT Corporation 2024 Equity Incentive Plan that will increase the number of shares of the Company&#8217;s
    Class B Common Stock available for the grant of awards thereunder by an additional 175,000.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    transact other business as may properly come before the Annual Meeting and any adjournment or postponement thereof.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RECORD
    DATE:</b></span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    can vote if you were a stockholder of record as of the close of business in New York, New York on October 17, 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROXY
    VOTING:</b></span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    can vote either in person at the Annual Meeting or by proxy without attending the meeting. See details under the heading &#8220;How
    do I Vote?&#8221;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ANNUAL
    MEETING</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IN-PERSON</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADMISSION:</b></span></p></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    you were a stockholder of record as of the close of business in New York, New York on October 17, 2025, a form of personal photo
    identification must be presented in order to be admitted to the Annual Meeting. If your shares are held in the name of a bank, broker
    or other holder of record, you must bring a brokerage statement or other written proof of ownership as of October 17, 2025 with you
    to the Annual Meeting, as well as a form of personal photo identification. The Company requests that any stockholder seeking to attend
    the Annual Meeting in person first email the Company&#8217;s investor relations department at <span style="background-color: white">invest@idt.net
    to RSVP.</span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ANNUAL
    MEETING DIRECTIONS:</b></span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    may request directions to the Annual Meeting via email at invest@idt.net or by calling IDT Investor Relations at (973) 438-3838.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>IMPORTANT
NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE IDT CORPORATION STOCKHOLDERS MEETING TO BE HELD ON DECEMBER 11, 2025:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Notice of Annual Meeting and Proxy Statement and the 2025 Annual Report are available at:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>www.idt.net/investors-and-media</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BY
    ORDER OF THE BOARD OF DIRECTORS</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><img src="formdef14-a_001.jpg" alt=""/></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joyce
    J. Mason</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
    Vice President, General Counsel and Corporate Secretary</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Newark,
New Jersey</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
30, 2025</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROXY
STATEMENT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENERAL
INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Introduction</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Proxy Statement is being furnished to the stockholders of record of IDT Corporation, a Delaware corporation (the &#8220;Company&#8221;
or &#8220;IDT&#8221;) as of the close of business in New York, New York on October 17, 2025, in connection with the solicitation by the
Company&#8217;s Board of Directors (the &#8220;Board of Directors&#8221;) of proxies for use in voting at the Company&#8217;s 2025 Annual
Meeting of Stockholders (the &#8220;Annual Meeting&#8221;). The Annual Meeting will be held on Thursday, December 11, 2025 at 11:00 a.m.,
local time, at the offices of IDT, 520 Broad Street, Newark, New Jersey 07102. The shares of the Company&#8217;s Class A common stock,
par value $0.01 per share (&#8220;Class A Common Stock&#8221;), and Class B common stock, par value $0.01 per share (&#8220;Class B Common
Stock&#8221;), present at the Annual Meeting or represented by the proxies received by Internet or mail (properly marked, dated and executed)
and not revoked, will be voted at the Annual Meeting. This Proxy Statement is being mailed to the Company&#8217;s stockholders starting
on or about November 7, 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Solicitation
and Voting Procedures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
solicitation of proxies is being made by the Company. The solicitation is being conducted by mail, and the Company will bear all attendant
costs. These costs will include the expense of preparing and mailing proxy materials for the Annual Meeting and any reimbursements paid
to brokerage firms and others for their expenses incurred in forwarding the solicitation materials regarding the Annual Meeting to the
beneficial owners of the Company&#8217;s Class A Common Stock and Class B Common Stock. The Company may conduct further solicitations,
by telephone or by facsimile through its officers, directors and employees, none of whom will receive additional compensation for assisting
with the solicitation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
close of business in New York, New York on October 17, 2025 has been fixed as the record date (the &#8220;Record Date&#8221;) for determining
the holders of shares of Class A Common Stock and Class B Common Stock entitled to notice of, and to vote at, the Annual Meeting. As
of the Record Date, the Company had 25,072,591 shares outstanding and entitled to vote at the Annual Meeting, consisting of 1,574,326
shares of Class A Common Stock and 23,498,265 shares of Class B Common Stock. The remaining shares issued (which are not deemed to be
outstanding), consisting of 1,698,000 shares of Class A Common Stock and 5,030,430 shares of Class B Common Stock, are beneficially owned
by the Company, and are not entitled to vote or to be counted as present at the Annual Meeting for purposes of determining whether a
quorum is present. The shares of stock owned by the Company will not be deemed to be outstanding for determining whether a majority of
the votes cast have voted in favor of any proposal.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders
are entitled to three votes for each share of Class A Common Stock held by them and one-tenth of one vote for each share of Class B Common
Stock held by them. The holders of shares of Class A Common Stock and Class B Common Stock will vote as a single body on all matters
presented to the stockholders. There are no dissenters&#8217; rights of appraisal in connection with any proposal.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>How
do I Vote?</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
can vote either in person at the Annual Meeting or by proxy without attending the meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beneficial
holders of Class A Common Stock and Class B Common Stock as of the Record Date whose stock is held of record by another party should
receive voting instructions from their bank, broker or other holder of record. If a stockholder&#8217;s shares are held through a nominee
and the stockholder wants to vote at the meeting, such stockholder must obtain a proxy from the nominee record holder authorizing such
stockholder to vote at the Annual Meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders
of record should receive a paper copy of our proxy materials and may vote by following the instructions on the proxy card that is included
with the proxy materials. As set forth on the proxy card, there are two convenient methods for holders of record to direct their vote
by proxy without attending the Annual Meeting: on the Internet or by mail. To vote by Internet, visit <i>www.voteproxy.com</i>. To vote
by mail, mark, date and sign the enclosed proxy card and return it in the postage-paid envelope provided. Holders of record may also
vote by attending the Annual Meeting and voting by ballot.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
shares for which a proxy has been duly executed and delivered (by Internet or mail) and not properly revoked prior to the meeting will
be voted at the Annual Meeting. If a stockholder of record signs and returns a proxy card but does not give voting instructions, the
shares represented by that proxy will be voted as recommended by the Board of Directors. If any other matters are properly presented
at the Annual Meeting for consideration and if you have voted your shares by Internet or mail, the persons named as proxies will have
the discretion to vote on those matters for you. On the date of filing this Proxy Statement with the Securities and Exchange Commission
(or &#8220;SEC&#8221;), the Board of Directors did not know of any other matters to be raised at the Annual Meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>How
Can I Change My Vote?</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
stockholder of record can revoke his, her or its proxy at any time before it is voted at the Annual Meeting by delivering to the Company
(to the attention of Joyce J. Mason, Esq., Executive Vice President, General Counsel and Corporate Secretary) a written notice of revocation
or by executing a later-dated proxy by Internet or mail, or by attending the Annual Meeting and voting in person.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
your shares are held in the name of a bank, broker, or other nominee, you must obtain a proxy executed in your favor from the holder
of record (that is, your bank, broker, or nominee) to be able to vote at the Annual Meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quorum
and Vote Required</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
presence at the Annual Meeting of a majority of the voting power of the outstanding Class A Common Stock and Class B Common Stock (voting
together and excluding the shares owned by the Company as those shares are not considered to be outstanding), either in person or by
proxy, will constitute a quorum for the transaction of business at the Annual Meeting. Abstention votes and any broker non-votes (i.e.,
votes withheld by brokers on non-routine proposals in the absence of instructions from beneficial owners) will be counted as present
or represented at the Annual Meeting for purposes of determining whether a quorum exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
affirmative vote of a majority of the voting power present (in person or by proxy) at the Annual Meeting and casting a vote on a Proposal
will be required for the approval of the election of any director (Proposal No. 1) and the adoption of an amendment to the Company&#8217;s
2024 Equity Incentive Plan (the &#8220;2024 Plan&#8221;) (Proposal No. 2). This means that the number of votes cast &#8220;for&#8221;
a director nominee or Proposal No. 2 must exceed the number of votes cast &#8220;against&#8221; that director nominee or Proposal No.
2, respectively. Abstentions are not counted as votes &#8220;for&#8221; or &#8220;against&#8221; a nominee or Proposal No. 2.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you are a beneficial owner whose shares are held of record by a broker, you must instruct your broker how to vote your shares. If you
do not provide voting instructions, your shares will not be voted on any proposal on which the broker does not have discretionary authority
to vote. This is called a &#8220;broker non-vote.&#8221; In these cases, the broker can register your shares as being present at the
Annual Meeting for purposes of determining the presence of a quorum but will not be able to vote on those matters for which specific
authorization is required under the rules of the New York Stock Exchange.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you are a beneficial owner whose shares are held of record by a broker, your broker does not have discretionary authority to vote on
the election of directors (Proposal No. 1) and the adoption of an amendment to the 2024 Plan (Proposal No. 2) or on any stockholder proposal
or other matter raised at the Annual Meeting without instructions from you, in which case a broker non-vote will occur and your shares
will not be voted on these matters.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>How
Many Votes Are Required to Approve Other Matters?</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
otherwise required by law or the Company&#8217;s Bylaws, the affirmative vote of a majority of the voting power represented at the Annual
Meeting and entitled to vote will be required for other matters that may properly come before the meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stockholders
Sharing the Same Address</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are sending only one copy of the Annual Report and Proxy Statement to stockholders of record who share the same last name and address,
unless they have notified the Company that they want to continue to receive multiple copies. This practice, known as &#8220;householding,&#8221;
is designed to reduce duplicate mailings and printings and postage costs. However, if any stockholder residing at such address wishes
to receive a separate Annual Report or Proxy Statement in the future, he or she may contact Joyce J. Mason, Esq., Corporate Secretary,
IDT Corporation, 520 Broad Street, Newark, New Jersey 07102, or by phone at (973) 438-1000, and we will promptly forward to such stockholder
a separate Annual Report and/or Proxy Statement. The contact information above may also be used by members of the same household currently
receiving multiple copies of the Annual Report and Proxy Statement in order to request that only one set of materials be sent in the
future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>References
to Fiscal Years</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s fiscal year ends on July 31 of each calendar year. Each reference to a fiscal year refers to the fiscal year ending in
the calendar year indicated (e.g., Fiscal 2025 refers to the Fiscal Year ended July 31, 2025).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CORPORATE
GOVERNANCE</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Introduction</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has in place a comprehensive corporate governance framework that reflects the corporate governance requirements and the rules
and regulations promulgated under the Securities Exchange Act of 1934, as amended, and the corporate governance-related listing requirements
of the New York Stock Exchange. Consistent with the Company&#8217;s commitment to strong corporate governance, the Company does not rely
on the exceptions from the New York Stock Exchange&#8217;s corporate governance listing requirements available to it because it is a
&#8220;controlled company,&#8221; except as described below with regard to (i) the composition of the Nominating Committee and (ii) the
Company not having a single Nominating/Corporate Governance Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with Sections 303A.09 and 303A.10 of the New York Stock Exchange Listed Company Manual, the Company has adopted a set of Corporate
Governance Guidelines and a Code of Business Conduct and Ethics, the full texts of which are available for your review in the Governance
section of our website at <i>https://www.idt.net/investors-and-media/governance </i>and which also are available in print to any stockholder
upon written request to the Corporate Secretary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company qualifies as a &#8220;controlled company&#8221; as defined in Section 303A of the New York Stock Exchange Listed Company Manual,
because more than 50% of the voting power of the Company is controlled by one individual, Howard S. Jonas, who serves as Chairman and
Chairman of the Board of Directors. Notwithstanding that being a &#8220;controlled company&#8221; entitles the Company to exempt itself
from the requirement that a majority of the voting directors be independent directors and that the Compensation Committee and Corporate
Governance Committee be comprised entirely of independent directors, the Board of Directors has determined affirmatively that a majority
of the voting members of the Board of Directors and the director nominees are independent in accordance with Section 303A.02 of the New
York Stock Exchange Listed Company Manual and that the Compensation Committee and the Corporate Governance Committee are in fact comprised
entirely of independent directors. As a &#8220;controlled company,&#8221; the Company may, and has chosen to, exempt itself from the
New York Stock Exchange requirement that it have a single Nominating/Corporate Governance Committee composed entirely of independent
directors. As noted above, and discussed in greater detail below, the Board of Directors maintains a separate Corporate Governance Committee
and Nominating Committee, each of which is comprised entirely of independent directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
Independence</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Corporate Governance Guidelines adopted by the Board of Directors provide that a majority of the voting members of the Board of Directors,
and each member of the Audit Committee, Compensation Committee, Corporate Governance Committee and Nominating Committee, must meet the
independence requirements set forth therein. The full text of the Corporate Governance Guidelines, including the independence requirements,
is available for your review in the Governance section of our website at <i>https://www.idt.net/investors-and-media/governance</i>. For
a director to be considered independent, the Board of Directors must determine that a director meets the Independent Director Qualification
Standards set forth in the Corporate Governance Guidelines, which comply with the New York Stock Exchange&#8217;s definition of &#8220;independence.&#8221;
The Board of Directors considers all relevant facts and circumstances known to it in making a determination of independence, and not
merely from the standpoint of the director, but also from that of persons or organizations with which the director has an affiliation
or significant financial interest. In addition to considering all relevant information available to it, the Board of Directors uses the
following categorical Independent Director Qualification Standards in determining the &#8220;independence&#8221; of its directors:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
    the past three years, the Company shall not have employed the director, or, except in a non-officer capacity, any of the director&#8217;s
    immediate family members;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
    the past three years, the director shall not have received, and shall not have an immediate family member who has received, during
    any twelve-month period within the last three years, more than $120,000 in direct compensation from the Company, other than director
    and committee fees and pension or other forms of deferred compensation for prior service (provided such compensation is not contingent
    in any way on continued service);</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
    The director shall not be a current partner or employee of a firm that is the Company&#8217;s internal or external auditor, (b) the
    director shall not have an immediate family member who is a current partner of such firm, (c) the director shall not have an immediate
    family member who is a current employee of such firm and personally works on the Company&#8217;s audit, and (d) neither the director
    nor any of his or her immediate family members shall have been, within the last three years, a partner or employee of such firm and
    personally worked on the Company&#8217;s audit within that time;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither
    the director, nor any of his or her immediate family members, shall be, or shall have been within the last three years, employed
    as an executive officer of another company where any of the Company&#8217;s present executive officers at the same time serves or
    served on that company&#8217;s compensation (or equivalent) committee; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    director shall not be a current employee and shall not have an immediate family member who is a current executive officer of a company
    (excluding tax-exempt organizations) that has made payments to, or received payments from, the Company for property or services in
    an amount which, in any of the last three Fiscal Years, exceeds the greater of (a) $1 million or (b) two percent of the consolidated
    gross revenues of such other company. The Corporate Governance Committee will review the materiality of such relationship to tax
    exempt organizations to determine if such director qualifies as independent.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, all members of the Company&#8217;s Audit Committee must meet the independence requirements of the Securities Exchange Act of
1934, as amended.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
on the review and recommendation of the Corporate Governance Committee, the Board of Directors has determined that each of Eric F. Cosentino,
Irwin Katsof and Judah Schorr is independent in accordance with the Corporate Governance Guidelines and Section 2014.10A-3 of the Securities
Exchange Act of 1934 and, thus, that a majority of the current voting members of the Board of Directors, a majority of the director nominees,
and each current member of the Audit, Compensation, Corporate Governance and Nominating Committees is independent. As used herein, the
term &#8220;non-employee director&#8221; shall mean any director who is not an employee or consultant of the Company and who is deemed
independent by the Board of Directors. Therefore, none of Howard S. Jonas, Bill Pereira or Elaine S. Yatzkan is a non-employee director.
None of the non-employee directors had any relationships with the Company that the Corporate Governance Committee was required to consider
when reviewing independence.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
Selection Process</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Nominating Committee will consider director candidates recommended by the Company&#8217;s stockholders. Stockholders may recommend director
candidates by contacting the Chairman of the Board as provided under the heading &#8220;Director Communications.&#8221; The Nominating
Committee considers candidates suggested by its members, other directors, senior management and stockholders in anticipation of upcoming
elections and actual or expected board vacancies. All candidates, including those recommended by stockholders, are evaluated on the same
basis in light of the entirety of their credentials and the needs of the Board of Directors and the Company. Of particular importance
is the candidate&#8217;s wisdom, integrity, ability to make independent analytical inquiries, understanding of the business environment
in which the Company operates, as well as his or her potential contribution to the diversity of the Board of Directors and his or her
willingness to devote adequate time to fulfill duties as a director. Under &#8220;Proposal No. 1&#8212;Election of Directors&#8221; below,
we provide an overview of each nominee&#8217;s experience, qualifications, attributes and skills, including as to personal factors of
nominees and the diverse perspectives that nominees may bring to their service on the Board, that led the Nominating Committee and the
Board of Directors to determine that each nominee should serve as a director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
Communications</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders
and other interested parties may communicate with: (i) the Board of Directors, by contacting the Chairman of the Board; (ii) the non-employee
directors, by contacting the Lead Independent Director (currently Eric F. Cosentino); and (iii) the Audit, Compensation, Corporate Governance
or Nominating Committees of the Board of Directors, by contacting the respective chairmen of such committees. All communications should
be in writing, should indicate in the address whether the communication is intended for the Lead Independent Director, the Chairman of
the Board, or a Committee Chairman, and should be directed care of IDT Corporation&#8217;s Corporate Secretary, Joyce J. Mason, Esq.,
Stockholder Communications, IDT Corporation, 520 Broad Street, Newark, New Jersey 07102.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Corporate Secretary will relay correspondence (i) intended for the Board of Directors, to the Chairman of the Board, who will, in turn,
relay such correspondence to the entire Board of Directors, (ii) intended for the non-employee directors, to the Lead Independent Director,
who will, in turn, relay such correspondence to the other non-employee directors, and (iii) intended for the Audit, Compensation, and/or
Corporate Governance Committees, to the Chairmen of such committees, who will, in turn, relay such correspondence to the members of the
applicable committee(s).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Corporate Secretary may filter out and disregard or re-direct (without providing a copy to the directors or advising them of the communication),
or may otherwise handle at his or her discretion, any director communication that falls into any of the following categories:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obscene
    materials;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsolicited
    marketing or advertising material or mass mailings;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsolicited
    newsletters, newspapers, magazines, books and publications;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Surveys
    and questionnaires;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resumes
    and other forms of job inquiries;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Requests
    for business contacts or referrals;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Material
    that is threatening or illegal; or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
    communications or materials that are not in writing.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the Corporate Secretary may handle in her discretion any director communication that can be described as an &#8220;ordinary
business matter.&#8221; Such matters include the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Routine
    questions, service and product complaints and comments that can be appropriately addressed by management; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Routine
    invoices, bills, account statements and related communications that can be appropriately addressed by management.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BOARD
OF DIRECTORS AND COMMITTEES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
of Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors held four regularly scheduled meetings and a total of eight meetings in Fiscal 2025. In Fiscal 2025, each of the Company&#8217;s
directors attended or participated in 75% or more of the aggregate of (i) the total number of regularly scheduled meetings of the Board
of Directors and (ii) the total number of regularly scheduled meetings held by all committees of the Board of Directors on which each
such director served.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors
are encouraged to attend the Company&#8217;s annual meeting of stockholders. All of the current members of the Board of Directors attended
the 2024 annual meeting of stockholders either in person or via video/telephonic conference.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
of Directors Leadership Structure and Risk Oversight Role</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
S. Jonas has served as Chairman of the Board since the Company&#8217;s inception and has served as Chairman, an executive officer position,
since September 2022. From October 2009 through December 2013, he also served as Chief Executive Officer. On January 1, 2014, Shmuel
Jonas, who served as the Company&#8217;s Chief Operating Officer from June 2010 through December 2013, was elected as Chief Executive
Officer of the Company. Howard S. Jonas is Chairman of the Board and provides overall leadership to the Board of Directors in its oversight
function. An important purpose of the risk management and oversight roles of the Audit, Compensation, Corporate Governance and Nominating
Committees discussed below, which are comprised solely of independent directors, is to provide an appropriate and effective balance to
the Chairman of the Board role.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s Eighth Amended and Restated By-Laws enable the Board of Directors to appoint one or more <i>ex-officio</i> (non-voting)
directors. <span style="background-color: white">Since March 24, 2021, Bill Pereira has served as an <i>ex-officio</i> (non-voting) member
of the Board of Directors.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors selects the Chairman of the Board at the annual meeting of the <span style="background-color: white">Board of Directors</span>,
which occurs promptly after the Annual Meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
303A.03 of the New York Stock Exchange Listed Company Manual and the Company&#8217;s Corporate Governance Guidelines require that the
independent directors of the Company meet privately without management at regularly scheduled executive sessions. These executive sessions
are held at every regularly scheduled meeting of the Board of Directors. Eric F. Cosentino, an independent director and the &#8220;Lead
Independent Director,&#8221; serves as the presiding director of these executive sessions and has served in that capacity since December
17, 2009. The Board of Directors determined that the role of Lead Independent Director is important to maintain a well-functioning Board
of Directors that objectively assesses management&#8217;s proposals.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors and each of its committees conduct annual self-assessments in private executive sessions to review and monitor their
respective continued effectiveness.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors as a whole, and through its committees, has responsibility for the oversight of risk management, including the review
of the policies with respect to risk management and risk assessment. With the oversight of the Board of Directors, the Company&#8217;s
senior management is responsible for the day-to-day management of the material risks the Company faces. The Board of Directors is required
to satisfy itself that the risk management process implemented by management is adequate and functioning as designed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of the Audit, Compensation and Corporate Governance Committees oversees certain aspects of risk management and reports its respective
findings to the Board of Directors on a quarterly basis, and as is otherwise needed. The Audit Committee is responsible for overseeing
risk management of financial matters, financial reporting, the adequacy of the risk-related internal controls, internal investigations,
and security risks, generally. The Compensation Committee oversees risks related to compensation policies and practices. The Corporate
Governance Committee oversees our Corporate Governance Guidelines and governance-related risks, such as board independence, as well as
senior management succession planning.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
Committees</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors has established an Audit Committee, a Compensation Committee, a Corporate Governance Committee and a Nominating Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Audit Committee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee is responsible for, among other things, the appointment, compensation, removal and oversight of the Company&#8217;s independent
registered public accounting firm. The Audit Committee also oversees management&#8217;s performance of its responsibility for the integrity
of the Company&#8217;s accounting and financial reporting and its systems of internal controls, the performance of the Company&#8217;s
internal audit function and the Company&#8217;s compliance with legal and regulatory requirements. The Audit Committee operates under
a written Audit Committee charter adopted by the Board of Directors, which can be found in the Governance section of our web site, <i>https://www.idt.net/investors-and-media/governance</i>,
and is also available in print to any stockholder upon request to the Corporate Secretary. The Audit Committee consists of Mr. Katsof
(Chairman), Rev. Cosentino and Dr. Schorr. The Audit Committee held eight meetings during Fiscal 2025. The Board of Directors has determined
that (i) all of the members of the Audit Committee are independent within the meaning of the Section 303A.07(b) and Section 303A.02 of
the New York Stock Exchange Listed Company Manual and Rule 10A-3(b) under the Securities Exchange Act of 1934, (ii) all of the members
of the Audit Committee are financially literate and (iii) that Mr. Katsof qualifies as an &#8220;audit committee financial expert&#8221;
within the meaning of Item 407(d)(5) of Regulation S-K.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Compensation Committee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Compensation Committee is responsible for, among other things, reviewing, evaluating and approving all compensation arrangements for
the executive officers of the Company, evaluating the performance of executive officers, administering the 2015 Stock Option and Incentive
Plan (the &#8220;2015 Plan&#8221;) and the 2024 Plan and recommending to the Board of Directors the compensation for Board members, such
as retainers, committee and other fees, stock options, restricted stock, deferred stock units and other stock awards, and other similar
compensation as deemed appropriate. The Compensation Committee confers with the Company&#8217;s executive officers when making the above
determinations. The Compensation Committee currently consists of Rev. Cosentino (Chairman), Mr. Katsof and Dr. Schorr. The Compensation
Committee held seven meetings during Fiscal 2025. The Compensation Committee operates under a written charter adopted by the Board of
Directors, which can be found in the Governance section of our web site, <i>https://www.idt.net/investors-and-media/governance</i>, and
which is also available in print to any stockholder upon request to the Corporate Secretary. The Board of Directors has determined that
all of the members of the Compensation Committee are independent within the meaning of Section 303A.02 of the New York Stock Exchange
Listed Company Manual and the categorical standards set forth above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Compensation Committee adopts goals and objectives for the fiscal year to be used as a guide when determining annual bonus payments to
executive officers after the end of the fiscal year. Such goals may be Company-wide or targeted at specific segments, business units
or corporate departments. The Compensation Committee reviews the performance of the Company relative to those goals and objectives, and
the contribution of each executive officer to such performance at the end of the fiscal year and considers them as some of the factors
when determining the amounts of annual bonuses to be awarded to executive officers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Committee Interlocks and Insider Participation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None
of the members of the Compensation Committee have served as an officer or employee of the Company or have any relationship with the Company
that is required to be disclosed under the heading &#8220;Related Person Transactions.&#8221; No executive officer of the Company served
in Fiscal 2025 or serves on the compensation committee or board of any company that employed or employs any member of the Company&#8217;s
Compensation Committee or Board of Directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Corporate Governance Committee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Corporate Governance Committee is responsible for, among other things, reviewing and reporting to the Board of Directors on matters involving
relationships among the Board of Directors, the stockholders and senior management. The Corporate Governance Committee (i) reviews the
Corporate Governance Guidelines and other policies and governing documents of the Company and recommends revisions as appropriate, (ii)
reviews any potential conflicts of interest of independent directors, (iii) reviews and monitors related person transactions, (iv) oversees
the annual self-evaluations of the Board of Directors, the Audit Committee, the Corporate Governance Committee and the Compensation Committee
and (v) reviews and determines director independence, and makes recommendations to the Board of Directors regarding director independence.
The Corporate Governance Committee currently consists of Rev. Cosentino (Chairman), Mr. Katsof and Dr. Schorr. The Corporate Governance
Committee held six meetings in Fiscal 2025. The Corporate Governance Committee operates under a written charter adopted by the Board
of Directors, which can be found in the Governance section of our web site, <i>https://www.idt.net/investors-and-media/governance</i>,
and which is also available in print to any stockholder upon request to the Corporate Secretary. The Board of Directors has determined
that all of the members of the Corporate Governance Committee are independent within the meaning of Section 303A.02 of the New York Stock
Exchange Listed Company Manual and the categorical standards set forth above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Nominating Committee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Nominating Committee is responsible for overseeing nominations to the Board of Directors, including: (i) developing the criteria and
qualifications for membership on the Board of Directors, (ii) recommending candidates to fill new or vacant positions on the Board of
Directors, and (iii) conducting appropriate inquiries into the backgrounds of potential candidates. A summary of new director qualifications
can be found under the heading &#8220;Director Selection Process.&#8221; The Nominating Committee currently consists of Rev. Cosentino
(Chairman) and Dr. Schorr. The Board of Directors has determined that both of the members of the Nominating Committee are independent
within the meaning of Section 303A.02 of the New York Stock Exchange Listed Company Manual and the categorical standards set forth above.
The Nominating Committee operates under a written charter adopted by the Board of Directors, which can be found in the Governance section
of our web site, <i>https://www.idt.net/investors-and-media/governance</i>, and which is also available in print to any stockholder upon
request to the Corporate Secretary. The Nominating Committee held two meetings in Fiscal 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FISCAL
2025 COMPENSATION FOR NON-EMPLOYEE DIRECTORS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual
compensation for non-employee directors for Fiscal 2025 was comprised of equity compensation, consisting of awards of restricted shares
of Class B Common Stock, and cash compensation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
Equity Grants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
Fiscal 2025, pursuant to the 2024 Plan, each non-employee director of the Company received, on January 6, 2025, an automatic grant of
1,053 restricted shares of Class B Common Stock, which vested in full immediately upon grant and which had a value of $49,991 based on
the average of the high and the low trading prices of Class B Common Stock on the trading day immediately prior to the grant date. A
new non-employee director who becomes a member of the Board of Directors during the course of the calendar year receives an automatic
grant on the date that he or she becomes a director in the amount specified above, pro-rated based on the calendar quarter of the year
in which such person became a director. Accordingly, during Fiscal 2025, Irwin Katsof received an additional grant of 369 restricted
shares (25% of the 1,476 restricted shares granted to directors in January 2024 for the full year of service) of Class B Common Stock
on December 12, 2024 when he was elected to the Board of Directors, which vested in full immediately upon grant and which had a value
of $19,140 based on the average of the high and the low trading prices of Class B Common Stock on the trading day immediately prior to
the grant date. The stock is granted on a going-forward basis before the director completes his or her service for the calendar year.
All such grants of stock to non-employee directors are subject to certain terms and conditions described in the 2024 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
of Directors Retainers</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
non-employee director of the Company receives an annual cash retainer of $50,000 thatis paid in equal quarterly payments provided the
non-employee director attended at least 75% of the regularly scheduled meetings of the Board of Directors that quarter. The annual cash
retainer is pro-rated (by calendar quarter based on the calendar quarter when service on the Board of Directors began or ended) for non-employee
directors who join the Board of Directors or depart from the Board of Directors during the calendar year, if such director attended 75%
of the regularly scheduled meetings of the Board of Directors for such quarter. The Company&#8217;s Chief Executive Officer may, in his
discretion, waive the requirement of 75% attendance by a director to receive the retainer in the case of mitigating circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Committee
Fees</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors
do not receive fees for committee service.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lead
Independent Director</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Lead Independent Director receives an additional annual cash retainer of $50,000, paid in equal quarterly amounts upon the completion
of each quarter of service. Eric F. Cosentino has served as the Lead Independent Director since December 17, 2009.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal
2025 Director Compensation Table</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table lists Fiscal 2025 compensation for any person who served as a non-employee director during Fiscal 2025. This table does
not include compensation to Howard S. Jonas, Bill Pereira or Elaine S. Yatzkan, as they are not non-employee directors and do not receive
any compensation for service as members of the <span style="background-color: white">Board of Directors</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dates
    of Board <br/>
    Service <br/>
    During Fiscal <br/>
    2025</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fees
    <br/>
    Earned or<br/>
    Paid in <br/>
    Cash <br/>
    ($)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    <br/>
    Awards <br/>
    ($)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
    Other <br/>
    Compensation <br/>
    ($)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    <br/>
    ($)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 18%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric
    F. Cosentino</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/01/2024&#8211;07/31/2025</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(1)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,291</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(2)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">  &#160;&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">150,291</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Irwin
    Katsof</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/12/2024&#8211;07/31/2025</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,500</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(3)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69,280</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(4)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,780</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judah
    Schorr</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/01/2024&#8211;07/31/2025</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,000</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(5)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,291</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(2)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,291</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael
    Chenkin</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/01/2024&#8211;12/12/2024</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,000</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(6)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,000</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) $50,000, which represents the annual Board of Directors retainer earned in Fiscal 2025, and (b) $50,000, which represents
    the Lead Independent Director Fee earned in Fiscal 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the grant date fair value of an award of 1,053 restricted shares of Class B Common Stock on January 6, 2025, computed in accordance
    with FASB ASC Topic 718.&#160;&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the annual Board of Directors retainer earned in Fiscal 2025, pro-rated for three calendar quarters.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the grant date fair value of (a) an award of 369 restricted shares of Class B Common Stock on December 12, 2024, and (b) an award
    of 1,053 restricted shares of Class B Common Stock on January 6, 2025, each computed in accordance with FASB ASC Topic 718.&#160;&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the annual Board of Directors retainer earned in Fiscal 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the annual Board of Directors retainer earned in Fiscal 2025, pro-rated for the two calendar quarters during which he served on the
    Board of Directors.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of July 31, 2025, non-employee directors held the following shares of Class B Common Stock granted for their service as directors. Non-employee
directors did not hold any options to purchase shares of the Company&#8217;s capital stock as of July 31, 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">Name</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B <br/> Common <br/> Stock</td><td style="padding-bottom: 1pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 80%; text-align: left">Eric F. Cosentino</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 16%; text-align: right">253</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Irwin Katsof</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,422</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Judah Schorr</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">71,439</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 11; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RELATED
PERSON TRANSACTIONS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Review
of Related Person Transactions</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors has adopted a Statement of Policy with respect to Related Person Transactions, which is administered by the Corporate
Governance Committee. This policy covers any transaction or series of transactions in which the Company or a subsidiary is a participant,
the amount involved exceeds $120,000 and a Related Person has a direct or indirect material interest. Related Persons include directors,
director nominees, executive officers, any beneficial holder of more than 5% of any class of the Company&#8217;s voting securities, and
any immediate family member of any of the foregoing persons. The policy also covers transactions which, despite not meeting all of the
criteria set forth above, would otherwise be considered material to investors based on qualitative factors, as determined by the Corporate
Governance Committee with input from the Company&#8217;s management and advisors. Transactions that fall within the definition are considered
by the Corporate Governance Committee for approval or other action. Based on its consideration of all of the relevant facts and circumstances,
the Corporate Governance Committee will decide whether or not to approve such transactions and will approve only those transactions that
are in the best interests of the Company and its stockholders. If the Company becomes aware of an existing Related Person Transaction
that has not been approved under this policy, the matter will be referred to the Corporate Governance Committee at its next regularly
scheduled meeting. The Corporate Governance Committee will evaluate all options available, including approval, revision or termination
of such transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Transactions
with Related Persons, Promoters and Certain Control Persons</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of the following Related Person Transactions were approved in accordance with the policy described above:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is a father/son relationship between Howard S. Jonas, Chairman and Chairman of the Board, and Shmuel Jonas, Chief Executive Officer.
Howard Jonas holds voting control over a controlling interest in the Company. Howard Jonas&#8217; and Shmuel Jonas&#8217; total compensation
during Fiscal 2025 are set forth in the Summary Compensation Table of this Proxy Statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is a brother/sister relationship between Howard S. Jonas, and Joyce J. Mason, General Counsel, Corporate Secretary and Executive Vice
President. Howard Jonas&#8217; total compensation during Fiscal 2025 is set forth in the Summary Compensation Table of this Proxy Statement.
Joyce Mason&#8217;s total compensation during Fiscal 2025 was $412,800.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 28, 2011, the Company spun off its subsidiary, Genie Energy Ltd. (&#8220;Genie&#8221;). In connection with the spin-off, the
Company and Genie entered into a Transition Services Agreement, dated October 28, 2011 (the &#8220;Genie TSA&#8221;), pursuant to which
the Company provides certain services to Genie, for which Howard S. Jonas serves as the Chairman of the Board and owns a controlling
interest, and for which Michael Stein, his son-in-law, is the Chief Executive Officer. The services under the Genie TSA include, but
are not limited to, services relating to human resources, employee benefits administration, system support and treasury, tax, facilities,
investor relations and legal. Furthermore, the Company granted Genie a license to use the IDT name for its Retail Energy Provider business.
Genie paid the Company a total of approximately $1,068,667 for services provided by the Company pursuant to the Genie TSA during Fiscal
2025. As of July 31, 2025, Genie owed the Company approximately $211,831 for such services. Additionally, Genie provided human resources,
legal and administrative services to the Company pursuant to the Genie TSA. The Company paid Genie a total of approximately $157,425
for services provided to the Company by Genie pursuant to the Genie TSA during Fiscal 2025. As of July 31, 2025, the Company owed Genie
approximately $10,985 for such services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 1, 2016, the Company spun off its subsidiary, Zedge, Inc. (&#8220;Zedge&#8221;). Zedge and the Company entered into a Transition
Services Agreement (the &#8220;Zedge TSA&#8221;), effective June 1, 2016. This constitutes a Related Person Transaction because Howard
S. Jonas is a director and Vice Chairman of Zedge and his son, Michael Jonas, is the Chairman of the board of directors, Executive Chairman,
and the controlling stockholder of Zedge. Pursuant to the Zedge TSA, the Company provides legal services to Zedge. Zedge paid the Company
a total of $126,000 for legal services provided by the Company pursuant to the Zedge TSA during Fiscal 2025. In addition, the Company
paid Zedge $86,000 for consulting services provided to the Company by a Zedge employee. As of July 31, 2025, Zedge owed the Company $1,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 26, 2018, the Company spun off its subsidiary, Rafael Holdings, Inc. (&#8220;Rafael&#8221;). In connection with the spin-off, the
Company and Rafael entered into a Transition Services Agreement, dated March 26, 2018 (the &#8220;Rafael TSA&#8221;), pursuant to which
the Company provides certain services to Rafael, for which Howard S. Jonas serves as the Chairman of the board of directors and owns
a controlling interest. The services include, but are not limited to, administrative, tax, and legal. The Company billed Rafael a total
of $275,323 under the Rafael TSA during Fiscal 2025. As of July 31, 2025, Rafael owed the Company $59,460 for such services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
Fiscal 2025, in connection with a rights offering consummated by Rafael, the Company purchased 168,122 shares of Rafael&#8217;s Class
B common stock for $215,196. The terms of the Company&#8217;s participation in the rights offering were identical to those for other
Rafael stockholders.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company occupies approximately 42,300 square feet in a building and has parking rights in a garage located at 520-536 Broad St, Newark,
New Jersey that was previously owned by Rafael. On August 22, 2022, Rafael sold the building and parking garage to an unrelated third
party. The Company leases office space in Jerusalem, Israel from Rafael. The Company paid Rafael $370,000 for office rent during Fiscal
2025. As of July 31, 2025, IDT owed Rafael $92,725 for office rent.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 28, 2025, the Company exercised its option pursuant to an Exchange and Option Agreement with Alexander Mason, son of Joyce Mason,
pursuant to which the Company exchanged 127,500 shares of National Retail Solutions, Inc. (&#8220;NRS&#8221;), a subsidiary of the Company,
for 7,685 shares of Class B Common Stock of the Company (valued at $395,250).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
Fiscal 2024, NRS and&#160;Zedge entered into a marketing relationship.&#160; During Fiscal 2025, Zedge received $156,000 from this Agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
Fiscal 2024, NRS and CTM Media Group entered into a marketing relationship.&#160; This constitutes a Related Person Transaction because
Howard S. Jonas is the owner of CTM Media Group.&#160; NRS billed CTM Media Group&#160;a total of $532,667&#160;pursuant to the marketing
relationship during Fiscal 2025.&#160;&#160;As of July 31, 2025, CTM Media Group owed NRS $532,667&#160;for such services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<!-- Field: Page; Sequence: 13; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth certain information regarding the beneficial ownership as of the close of business on October 17, 2025, of
Class A Common Stock and Class B Common Stock by (i) each person or entity known by the Company to be the beneficial owner of more than
5% of the outstanding shares of the Class A Common Stock or the Class B Common Stock, (ii) each of the Company&#8217;s directors, director
nominees, and the Named Executive Officers for Fiscal 2025 (who are listed under Executive Compensation below), and (iii) all directors
and executive officers of the Company as a group. Unless otherwise noted in the footnotes to the table, to the best of the Company&#8217;s
knowledge, the persons named in the table have sole voting and investing power with respect to all shares indicated as being beneficially
owned by them.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
otherwise noted, the security ownership information provided below is given as of the close of business on October 17, 2025 and all shares
are owned directly. Percentage ownership information is based on the following amounts of issued and outstanding shares: 1,574,326 shares
of Class A Common Stock and 23,498,265 shares of Class B Common Stock. The percentage ownership numbers reported below for Class B Common
Stock assume the conversion of all 1,574,326 currently outstanding shares of Class A Common Stock into shares of Class B Common Stock
on a one-for-one basis. In computing the number of shares of Class B Common Stock beneficially owned by a person and the percentage ownership
of that person, we considered shares of Class B Common Stock subject to options held by that person that are currently exercisable or
exercisable within sixty days of October 17, 2025 and Class B Common Stock issuable upon the vesting of deferred stock units within sixty
days of October 17, 2025 to be outstanding and to be owned by the applicable person.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    <br/>
    of Shares <br/>
    of Class A <br/>
    Common <br/>
    Stock</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage
    of <br/>
    Ownership<br/>
    of Class A<br/>
    Common<br/>
    Stock</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    <br/>
    of Shares <br/>
    of Class B <br/>
    Common <br/>
    Stock</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage
    of <br/>
    Ownership<br/>
    of Class B<br/>
    Common<br/>
    Stock</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of
    Aggregate<br/>
    Voting</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power
    <sup>&#948;</sup></span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 30%"><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
    S. Jonas</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">520
    Broad Street</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Newark,
    NJ 07102</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,574,326<sup></sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%">&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(1)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,630,104</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(2)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.9</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">70.5</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Blackrock,
    Inc.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">55
    East 52nd Street</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York, NY 10055</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,430,990</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(3)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Vanguard Group</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100
    Vanguard Blvd.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Malvern,
    PA 19355</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,216,941</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(3)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.7</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
    Jonas</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">184,811</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(4)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
    Pereira</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">45,972</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(5)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
    Fischer</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">73,302</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(6)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
    Ash</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54,613</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(7)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Wartell</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric
    F. Cosentino</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Irwin
    Katsof</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,422</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judah
    Schorr</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">128,571</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(8)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elaine
    S. Yatzkan</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
    directors, Named Executive Officers</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and
    other executive officers as a group (13 persons)</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,574,326</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,798,034</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<sup>(9)</sup></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.4</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71.3</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less
    than 1%.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#948;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting
    power represents combined voting power of Class A Common Stock (three votes per share) and Class B Common Stock (one-tenth of one
    vote per share). Excludes stock options as option holders have no voting rights related to the shares underlying the options.</span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Owned
    by IDT A Partners, L.P.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) 62,851 shares of Class B Common Stock held directly, (b) 197,641 shares of Class B Common Stock owned by the Jonas Foundation,
    (c) 1,811,711 shares of Class B Common Stock owned by the Howard S. Jonas 2019 Remainder Trust, (d) 342,779 shares of Class B Common
    Stock owned by Chartwell Holding, LLC, (e) 211,269 shares of Class B Common Stock held by the Debbie Jonas 2018 Dynasty Trust, and
    (f) 3,853 shares of Class B Common Stock held by Howard S. Jonas in his IDT Corporation 401(k) Plan account as of September 30, 2025.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Does
not include (a) 123,598 shares of Class B Common Stock owned by the Howard S. and Deborah Jonas Foundation, Inc., as Howard S. Jonas
does not beneficially own those shares, (b) an aggregate of 3,468,979 shares of Class B Common Stock beneficially owned by trusts for
the benefit of the children of Howard S. Jonas, as Howard S. Jonas does not exercise or share voting or investment control over those
shares, (c) 160,000 shares of Class B Common Stock owned by the 2012 Jonas Family, LLC (Howard S. Jonas is a minority equity holder of
such entity), (d) 1,574,326 shares of Class A Common Stock (which are convertible into Class B Common Stock) owned by IDT A Partners,
L.P., (e) shares representing 3.1% of the outstanding common stock of net2phone 2.0, Inc., a subsidiary of the Company, or (f) shares
representing 2.4% of the outstanding common stock of National Retail Solutions, Inc., a subsidiary of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
    to the applicable Schedule 13G as filed by the applicable beneficial owner.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) 172,166 shares of Class B Common Stock owned directly, (b) 5,057 shares of Class B Common Stock held by a trust for the benefit
    of Shmuel Jonas, (c) options to purchase 6,032 shares of Class B Common Stock that are exercisable within 60 days of October 17,
    2025, and (d) 1,556 shares of Class B Common Stock owned by Shmuel Jonas&#8217; wife.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Does
    not include (a) 649,106 shares of Class B Common Stock owned by trusts for the benefit of Shmuel Jonas, which trusts are controlled
    by an independent trustee, as Shmuel Jonas does not hold or share investment control of such shares; (b) shares representing 2.6%
    of the outstanding common stock of net2phone 2.0, Inc., a subsidiary of the Company; or (c) shares representing 7.2% of the outstanding
    common stock of National Retail Solutions, Inc., a subsidiary of the Company.</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) 42,500 shares of Class B Common Stock owned directly, and (b) 3,472 shares of Class B Common Stock held by Mr. Pereira in
    his IDT Corporation 401(k) Plan account as of September 30, 2025. Does not include shares representing 0.3% of the outstanding common
    stock of net2phone 2.0, Inc., a subsidiary of the Company.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) 64,513 shares of Class B Common Stock owned directly, (b) options to purchase 6,032 shares of Class B Common Stock that are
    exercisable within 60 days of October 17, 2025, and (c) 2,757 shares of Class B Common Stock held by Mr. Fischer in his IDT Corporation
    401(k) Plan account as of September 30, 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) 51,756 shares of Class B Common Stock owned directly, and (b) 2,857 shares of Class B Common Stock held by Mr. Ash in his
    IDT Corporation 401(k) Plan account as of September 30, 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of (a) 121,439 shares of Class B Common Stock owned directly, (b) 7,000 shares of Class B Common Stock held in the Schorr Family
    Trust, and (c) 132 shares of Class B Common Stock in an IRA.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the shares set forth above with respect to the Named Executive Officers and directors, and the following shares of Class B Common
    Stock beneficially owned by other executive officers of the Company: (a) 96,305 shares of Class B Common Stock held by other executive
    officers and their immediate families, which includes 1,172 restricted shares of Class B Common Stock that <span style="background-color: white">vest,
    and vest in full, only if the Class B Common Stock closes above $72.50 per share of either the average of ten (10) trading days or
    ten (10) consecutive trading days prior to October 15, 2027</span>; (b) 7,159 shares of Class B Common Stock held by other executive
    officers in their respective IDT Corporation 401(k) Plan accounts as of September 30, 2025; and (c) 1,396 shares of Class B Common
    Stock purchased through the Company&#8217;s Employee Stock Purchase Program held by an executive officer.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SECTION
16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the securities laws of the United States, the Company&#8217;s directors, executive officers, and any persons holding more than ten percent
or more of a registered class of the Company&#8217;s equity securities are required to file reports of ownership and changes in ownership,
on a timely basis, with the SEC and the New York Stock Exchange. Based on material provided to the Company, the Company believes that
all such required reports were filed on a timely basis in Fiscal 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 15; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXECUTIVE
COMPENSATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>COMPENSATION
COMMITTEE REPORT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Compensation Committee has reviewed and discussed with management the following Compensation Discussion and Analysis section of the Company&#8217;s
2025 Proxy Statement. Based on our review and discussions, we have recommended to the Board of Directors that the Compensation Discussion
and Analysis be included in IDT&#8217;s 2025 Proxy Statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric
Cosentino, Chairman</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Irwin
Katsof</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judah
Schorr</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Notwithstanding
anything to the contrary set forth in any of the Company&#8217;s previous filings under the Securities Act of 1933, as amended (the &#8220;Act&#8221;),
or the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), that might incorporate future filings, including
this Proxy Statement, in whole or in part, the foregoing report shall not be incorporated by reference into any such filings, nor shall
it be deemed to be soliciting material or deemed filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) under the
Act or under the Exchange Act.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>COMPENSATION
DISCUSSION AND ANALYSIS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following discussion and analysis of our compensation practices and related compensation information should be read in conjunction with
the Summary Compensation table and other tables included in this proxy statement, as well as our financial statements and management&#8217;s
discussion and analysis of our financial condition and results of operations included in our Annual Report on Form 10-K for the fiscal
year ended July 31, 2025, which we refer to as the Form 10-K. The following discussion includes statements of judgment and forward-looking
statements that involve risks and uncertainties. These forward-looking statements are based on our current expectations, estimates and
projections about our industry, our business, compensation, management&#8217;s beliefs, and certain assumptions made by us, all of which
are subject to change. Forward-looking statements can often be identified by words such as &#8220;anticipates,&#8221; &#8220;expects,&#8221;
&#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;predicts,&#8221; &#8220;believes,&#8221; &#8220;seeks,&#8221; &#8220;estimates,&#8221;
&#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; &#8220;could,&#8221; &#8220;potential,&#8221; &#8220;continue,&#8221;
&#8220;ongoing,&#8221; similar expressions, and variations or negatives of these words and include, but are not limited to, statements
regarding projected performance and compensation. Actual results could differ significantly from those projected in the forward-looking
statements as a result of certain factors, including, but not limited to, the risk factors discussed in the Form 10-K. We assume no obligation
to update the forward-looking statements or such risk factors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Introduction</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is the responsibility of the Compensation Committee of our board of directors to: (i) oversee our general compensation policies; (ii)
determine the base salary and bonus, if any, to be paid each year to each of our executive officers; (iii) oversee our compensation policies
and practices as they relate to our risk management; and (iv) determine the compensation to be paid each year to our non-employee directors
for service on our board of directors and the various committees of our board of directors. In addition, the Compensation Committee administers
our Stock Option and Incentive Plans with respect to restricted stock, stock options or other equity-based awards. Further, from time
to time, certain individuals have received grants of equity in certain of our subsidiaries and any grants in subsidiaries to our executive
officers must be approved by the Compensation Committee. Restricted shares of Class B common stock are granted to our non-employee directors
automatically on an annual basis under our 2015 Plan and 2024 Plan, and under other policies adopted by the Board and Compensation Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Elements
of Compensation</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
three broad components of our executive officer compensation are annual base salary, annual bonus awards, and long-term equity-based
incentive awards, including (i) awards that may have time and performance-based vesting conditions and that may present the recipient
with additional growth opportunities through decisions to remain at risk related to continued employment, and (ii) in certain circumstances,
awards in, or related to, equity of subsidiaries or operating units, where the individual recipient has specific responsibilities related
to that subsidiary or unit or has significant ability, through job performance, to impact meaningfully the value of that operation. The
Compensation Committee periodically reviews total compensation levels and the allocation of compensation among these three components
for each of the executive officers, as well as for the Company, in the context of our overall compensation policy. Additionally, the
Compensation Committee reviews the relationship of executive compensation to corporate performance generally and with respect to specific
enumerated goals that are approved by the Compensation Committee in each fiscal year. Management and the Compensation Committee believe
that our current compensation plans are serving their intended purposes and are functioning reasonably. Below is a description of the
general policies and processes that govern the compensation paid to our executive officers, as reflected in the accompanying compensation
tables.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Compensation
Structure, Philosophy and Process</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
executive compensation structure is designed to attract and retain qualified and motivated personnel and align their interests with the
short-term and long-term goals of the Company and with the best interests of our stockholders. Our compensation philosophy is to provide
sufficient compensation to attract the individuals necessary to meet our current needs and planned organic growth and changes in operations,
as well as for the business units that represent longer-term growth initiatives and provide them with the proper incentives to motivate
those individuals to perform their duties and execute their roles in order to achieve our long-term plans.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
base salary that we pay to each of our Named Executive Officers is based on the responsibilities undertaken by the respective individuals,
if applicable, the business unit managed and its complexity and role within the Company, and the marketplace for employment of people
of similar skills and backgrounds. The base salaries paid are determined by discussions with the covered individual and his or her manager,
as well as budgetary considerations. Such base salaries are approved by the relevant members of our senior management and, in the case
of executive officers and, from time to time, certain other key, highly compensated individuals, the Compensation Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incentive
compensation is designed to reward contributions towards achieving the Company&#8217;s, or one or more business units&#8217; goals for
the current period, as well as for the longer term. Bonuses are generally a reward for performance in the relevant period and equity
awards also provide incentive to contribute to future performance and growth and to align our personnel&#8217;s interest with those of
our stockholders.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Compensation Committee, with recommendations from the Company&#8217;s management, sets goals for executive compensation in each fiscal
year. These goals are set for the Company and for specific operating divisions and are designed to set forth achievable goals for the
current performance of the Company and its business units and for current contributions to long-term initiatives. The Company&#8217;s
practice has evolved to setting detailed financial, operational and strategic goals to provide ample metrics against which to measure
performance of the Company, each business or other unit, and the contributions of senior corporate and divisional personnel toward the
achievement of (or failure to achieve) the goals.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Compensation Committee&#8217;s decisions regarding bonuses are primarily subjective and specific to each Named Executive Officer and
are made by the Committee in its discretion after an overall assessment of all of the factors it deems appropriate, which includes, but
is not limited to, the specific Company-wide goals, the individual&#8217;s role in achieving those goals, if relevant, the performance
of the business unit or units over which the individual exercised management or with respect to which the individual contributed, and
other accomplishments during the fiscal year that were deemed relevant in specific instances. Following the end of the fiscal year, our
management sets Company-wide bonus amounts (in terms of total budget for bonuses, percentages of base compensation for individuals and
relation to prior years&#8217; bonuses) and for the fiscal year then-ended, based on Company performance and available resources. Proposed
bonuses for executive officers are then presented to the Compensation Committee. The bonus amount awarded to each executive officer is
the result of subjective proposals made by management and determination of the Compensation Committee with respect to each subject individual,
based on Company and individual performance, particularly relative to the performance goals set by the Compensation Committee for the
fiscal year, and levels relative to the bonuses of other personnel and officers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
officers are eligible to receive cash bonuses of up to 100% of base salary (or higher upon extraordinary performance or other circumstances
as determined by the Compensation Committee) based upon performance, including the specific financial and other goals set by the Compensation
Committee, which goals are Company-wide, specific to a business unit or specific to an executive and his or her area of responsibility,
as well as specific extraordinary accomplishments by such officers during the relevant period. Specific bonuses will depend on the individual
achievements of executives and their contribution to the achievement of the enumerated goals. These goals are approved by the Compensation
Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity
grants are made to provide longer term incentive compensation and to better align the interests of our executives with our stockholders.
Executives have been granted equity interests in the Company and, with regard to individuals whose areas of responsibility focus on specific
operations or who have the ability to contribute in significant ways to specific subsidiaries or business units, in those subsidiaries
or business units, so as to better incentivize and reward the executives for the results of their efforts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
recent years, the Company&#8217;s grants in Company equity (broad-based and to senior personnel) have focused on awards with features
that link the size of the awards to the market price of the Company&#8217;s Class B common stock, and that present the recipient with
additional growth opportunities through decisions to remain at risk related to continued employment. In these grants, the number of shares
issued upon vesting varies with the market price of the Class B common stock at each vesting date relative to the base amount (which
is linked to the market price at or near the time the awards are made), and recipients have the flexibility to have awards scheduled
to vest remain unvested, giving them the possibility of greater ultimate awards if the market price increases further during the deferral
period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Decisions Made in Fiscal 2025</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Company
Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
Fiscal 2025, the Company was successful in continuing to improve the contributions to its top and bottom lines from its high margin growth
businesses, while cutting costs and managing its Traditional Communications segment so those units continued to contribute positively
to overall performance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Gross Profit grew by 14% and Income from Operation grew by 55% from the fiscal 2024 levels and the Company reported diluted earnings
per share of $3.01 compared to $2.54 in fiscal 2024. Cash flow from operations also increased compared to fiscal 2024.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS
improved key financial and operational metrics while growing its network, broadening its offerings and entering into additional strategic
relationships.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Boss Money international remittance offerings, and the entire Fintech segment, delivered increased top line and bottom line contributions
compared to the prior fiscal year, led by growth in its digital channel, while growing the number of transactions processed and the total
funds sent by its customers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone
delivered modest top line growth and a very substantial increase in income from operations despite pressure from the impact of a strong
U.S. dollar, while expanding its use of artificial intelligence to broaden and improve its offerings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
our Traditional Communications segment continues to see downward pressure from the shifts that are impacting the minute-based communications
industry, it delivered increases in gross profit and income from operations while updating offerings within the digital payments channel.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company delivered strong performance across the board while continuing to invest in the future of its key growth-oriented units, as well
as incubating earlier-stage operations and positioning all for continuing growth and contributions to Company-wide performance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
and Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
for Fiscal Year 2025</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 18, 2024, the Compensation Committee approved executive compensation goals for Fiscal 2025. The goals cover
Company-wide targets as well as goals for specific business units and other groups. The goals are detailed and, in many instances, consist
of specific operational achievements related to an identified effort or unit. The key goals set for Fiscal 2025 included:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9679;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, gross profit, EBITDA less capital expenditures above budgeted
                                            levels and cutting costs from prior year;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9679;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals (including as to revenue and gross profit) with respect to specific business
                                            units, including Boss PINLESS, IDT Global, Mobile Top-Up, Boss Money, net2phone and NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9679;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            the NRS POS network and NRS Pay accounts to specified targets, and achieve targeted revenue
                                            growth for advertising and data sales;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            presence in specified verticals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhance
                                            technological offerings at the point of sale;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            seats domestically and internationally;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            marketing channels;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrate
                                            offerings with additional communications platforms;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            operational stability and uptime statistics;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BOSS
                                            Money:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Introduce
                                            expanded customer offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lower
                                            costs of payouts;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduce
                                            anti-fraud costs;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secure
                                            new licenses and payment corridors;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Traditional
                                            Communications:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            integration of BOSS offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Introduce
                                            E-Sim product for BOSS Pinless;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            backend functionality;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            various new ventures within the Fintech segment;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology
                                            team to improve internal reporting, and support of business units, including on improving
                                            uptime.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 18, 2025, management reported to the Compensation Committee on the Company&#8217;s performance relative to
the above goals as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company substantially achieved all key financial goals &#8211; delivering between 98% and
                                            132% of all targets; minor shortfalls were more than offset by overachievement of other goals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
                                            segment substantially achieved its financial goals: BOSS Money exceeded most goals; net2phone
                                            delivered between 90% and 100% of each target; NRS achieved 99%-101% of each goal and Traditional
                                            Telecom achieved its targets;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS
                                            met or exceeded its targets for customer growth, including for specific offerings, achieved
                                            86% of its target for advertising and data sales, grew almost all the verticals that were
                                            targeted and exceeded 90% completion on nearly all of the technology-related goals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone
                                            met 91% -95% of its customer growth goals, achieved its marketing channel expansion targets,
                                            integrated with key communications platforms and achieved 90%-100% of its operational stability
                                            and uptime targets;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BOSS
                                            Money successfully lowered its cost of payouts, achieved most of its anti-fraud cost reduction
                                            targets at 85% or greater levels, and successfully expanded its payment corridors;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Traditional Telecom segment improved its integration to the NRS POS to a lesser extent than
                                            targeted, successfully introduced its E-sim offering for BOSS Pinless, and substantially
                                            met its backend efficiency improvement goals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
                                            early-stage ventures were advanced, others were abandoned and replaced with other newer undertakings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            technology team met its key targets while continuing to support existing operations and developing
                                            new offerings across the business units.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
considering the key goals listed above as well as the other goals approved by the Compensation Committee, the Compensation Committee
concluded that the Company and its segments/business units had substantially met or exceeded the significant majority of the key quantitative
and qualitative goals, while certain of the goals that were not met had been de-emphasized due to market or other conditions that arose
during the fiscal year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bonus
Awards for Fiscal 2025 Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
light of the performance relative to the enumerated goals and the overall financial performance of the Company, in particular the top
line and bottom line performance of the Company&#8217;s higher-margin growth businesses, the fact that they are contributing positively
to the Company&#8217;s bottom line, operational improvements, including feature and product enhancements, back-end improvements, cost-management
and success in mitigating the sectoral decline in the traditional communications market, management recommended performance bonuses for
management that were approximately 12.65% higher than those paid in respect of Fiscal 2024. As a percentage of base salary, the amounts
paid ranged from 16.9% to 138% of the executive officer&#8217;s base salary. The following individual bonus levels were determined and
paid in early Fiscal 2026 in respect of services provided in Fiscal 2025:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
                                            Jonas was awarded a cash bonus of $684,250, an increase from the $595,000 paid to him for
                                            services provided in Fiscal 2024. In Fiscal 2025, he continued to provide overall strategic
                                            guidance and directed efforts in setting priorities and goals for each of the Company&#8217;s
                                            segments and the operational units within such segments, as well as monitoring performance
                                            and reacting to operational and market developments. He guided decisions on new offerings
                                            and changes to existing offerings, and on non-organic growth opportunities, while maintaining
                                            strong discipline regarding spending. He was directly involved in budgeting decisions and
                                            drove final decisions regarding the allocation of resources and in setting priorities for
                                            development. He set the tone of striving for outstanding performance and maintaining high
                                            expectations.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
                                            Fischer was awarded a cash bonus of $339,250, an increase from the $295,000 paid to him for
                                            services provided in Fiscal 2024. As CFO, Mr. Fischer is one of the principal executives
                                            responsible for strategic planning and budgeting and executing on the strategic initiatives
                                            of the Company. He plays an essential role in preparing models and projections for business
                                            units and managing costs, in revenue-generating initiatives and in consideration of non-organic
                                            growth opportunities. Mr. Fischer plays a key role in investor relations and communications
                                            with market professionals. In fiscal 2025, Mr. Fischer was instrumental in the factors that
                                            led to the Company&#8217;s financial performance that exceeded budgets overall and at the
                                            business unit level.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
                                            Pereira was awarded a cash bonus of $575,000 (of which $425,000 was paid in cash and the
                                            remainder of which was satisfied via the previous issuance of deferred stock units), an increase
                                            from the $500,000 paid to him for services provided in Fiscal 2024. In addition, (i) in accordance
                                            with his Amended and Restated Employment Agreement, Mr. Pereira earned a bonus, which he
                                            elected (as provided for under such employment agreement) to receive in the form of 39,155
                                            shares of Class B Common Stock, upon the Company meeting one of the milestones set forth
                                            in that agreement in Fiscal 2025, and (ii) Mr. Pereira was paid a $500,000 bonus for meeting
                                            another one of the milestones set forth in that agreement in Fiscal 2025. During Fiscal 2025,
                                            he oversaw day-to-day operations for the Company&#8217;s business units, providing direction
                                            to divisional management while addressing developments and internal and external factors
                                            that impacted the Company&#8217;s ability to carry out its strategic initiatives. Mr. Pereira
                                            plays a key role in the management of the business units within the Fintech and Traditional
                                            Communications segment and has been instrumental in efforts to manage sectoral factors driving
                                            significant revenue declines and mitigating the impact on the bottom line of each of the
                                            Traditional Communication segment and its business units. Mr. Pereira helps to shape growth
                                            strategies and set priorities for the Company and to execute on those directives as well
                                            as exploring and executing on non-organic growth efforts.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
                                            Ash was paid a cash bonus of $187,000, an increase from the $170,000 paid to him in respect
                                            of Fiscal 2024 performance. In addition, Mr. Ash was paid a bonus of $500,000 earlier in
                                            Fiscal 2025, out of an extraordinary bonus approved in Fiscal 2024 ($1,000,000 of which was
                                            paid to Mr. Ash in fiscal 2024) in connection with an extraordinary positive event for the
                                            Company with respect to which he was closely associated. Mr. Ash is responsible for supporting
                                            existing operations and plays a significant role in various strategic initiatives, non-organic
                                            growth efforts, as well as risk management and overseeing legal proceedings and disputes.
                                            Mr. Ash is also actively involved in the legal aspects of dealing with third parties, including
                                            commercial relationships and strategic partnerships.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in">&#160;</p>

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

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
                                            Wartell received a cash bonus of $195,000, an increase from the $185,000 paid to him for
                                            services provided in Fiscal 2024. As the Company&#8217;s Chief Technology Officer, Mr. Wartell
                                            is responsible for managing all of the technology development at the Company. He is instrumental
                                            in planning development goals and determining what can be accomplished, as well as the allocation
                                            of resources. A significant number of the goals set by the Compensation Committee related
                                            to new product development and product enhancements, as well as backend improvements to improve
                                            efficiency and reliability which have become key competitive factors and essential for the
                                            Company&#8217;s operating units, particularly those that are technology focused, to distinguish
                                            their offerings on the marketplace. Mr. Wartell is also responsible for ensuring that the
                                            technology group has the skills and resources necessary to meet the evolving and growing
                                            demands of the business units.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
                                            S. Jonas did not receive a cash bonus for services provided in Fiscal 2024 or Fiscal 2025.
                                            Howard Jonas serves as the Company&#8217;s Chairman and provides strategic guidance to the
                                            Company and is actively involved in all major decisions and in the implementation of key
                                            initiatives for the Company.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Base
Salaries</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company paid base salaries to its executives intended to meet the goals and purposes outlined above. The base salaries of certain executives
are set forth in written agreements with the Company. Subject to those written agreements, the base salaries are set by the Compensation
Committee on an annual basis, based on presentations made by management. No changes were made to the base compensation of any Named Executive
Officers from the Fiscal 2025 levels.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Fifth Amended and Restated Employment Agreement (the &#8220;Fifth Amended H. Jonas Agreement&#8221;), effective January 1, 2021,
between the Company and Howard Jonas that is discussed in more detail below, Howard Jonas receives a cash base salary of $250,000 per
annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
Jonas receives a base salary of $495,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
Fischer receives a base salary of $450,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the agreement described below, Bill Pereira receives a base salary of $500,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Ash receives a base salary of $400,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Wartell receives a base salary of $300,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Grants </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
of the Company&#8217;s Executive Officers participated in the Fiscal 2023 broad-based grant of deferred stock units (DSUs) under the
Company&#8217;s 2022 Equity Growth Program (the &#8220;2022 Equity Growth Program&#8221;) which is described in the Company&#8217;s financial
statements included in the Form 10-K, which grants continued to be eligible for vesting in Fiscal 2025. Grants under that program serve
to create incentives for outstanding work performance that drives increases in the price for the Company&#8217;s Class B Common Stock,
and create opportunities to enhance the value to be received by retaining risk with respect to grants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
Fiscal 2025, Mr. Fischer received 56,250 shares, Mr. Pereira received 100,313 shares, Mr. Ash received 9,374 shares and Mr. Wartell received
14,374 shares of Class B common stock upon the vesting of DSUs granted under the 2022 Equity Growth Program. The number of shares issued
reflect the number of DSUs that vested in fiscal 2025 which depended on the number of DSUs originally granted and decisions made by the
executive officers in respect of previous vesting dates as permitted under the 2022 Equity Growth Program.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
Fiscal 2025:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
                                            of Shmuel Jonas and Marcelo Fischer received a grant of options to purchase 18,094 shares
                                            of Class B common stock;</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
                                            Pereira received a grant of 39,155 restricted shares of Class B Common Stock that vested
                                            in full upon grant (in connection with the achievement of milestones set forth in the employment
                                            agreement between the Company and Mr. Pereira);</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
                                            Fischer received a grant of 15,624 DSUs that vested and are scheduled to vest in each of
                                            October 2025, 2026 and 2027; and</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
                                            Ash received grants of an aggregate of 440 DSUs, all of which vested in full on grant.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of the aforementioned grants were made under the 2015 Plan, the 2024 Plan or a combination thereof.&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
September 18, 2025, the Compensation Committee adopted a 2025 Equity Growth Program under the 2024 Plan and granted DSUs to the Named
Executive Officers thereunder.</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 343.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
for Fiscal Year 2026</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 18, 2025, the Compensation Committee approved executive compensation goals for Fiscal 2026. The goals cover
Company-wide targets as well as goals for specific business units and other groups. The goals are detailed and, in many instances, consist
of specific operational achievements related to an identified function or unit. The key goals set for Fiscal 2026 include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, gross profit, EBITDA less capital expenditures above budgeted
                                            levels and cutting costs at certain business units;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals (including as to revenue, gross profit, and key performance indicators) with
                                            respect to specific segments or business units, including Boss Pinless, IDT Global, Digital
                                            Payments, Money Remittance, net2phone and NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            use and application of AI, including for customer-facing offerings and internal efficiencies;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            the NRS POS network and NRS Pay accounts to specified targets;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Achieve
                                            targeted revenue growth for advertising and data sales;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            e-commerce channels;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Broaden
                                            functionality of POS terminals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Add
                                            additional features for certain target retailer customer types;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhance
                                            technological offerings at the point of sale;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            accounts domestically and internationally;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Focus
                                            on certain geographic markets and industry verticals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            AI capabilities;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Money
                                            Remittance:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deploy
                                            WhatsApp sales channel;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            customer acquisition processes;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            conversion and completion rates;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase
                                            penetration of targeted geographic markets;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Traditional
                                            Communications:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            integration of BOSS offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Introduce
                                            the BOSS Wallet;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redesign
                                            BOSS Revolution App;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Add
                                            new enterprise accounts for BOSS Global;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            more promising early-stage new ventures within the Fintech segment;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            uptime across all offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Support
                                            new development and compliance efforts;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            PCI Level1 compliance scope;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            on-time delivery of patches.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Decisions Made in Fiscal 2024</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Company
Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
Fiscal 2024, the Company&#8217;s high margin growth businesses built on prior performance and again delivered very strong results, while
the Traditional Communications segment was able to partially offset the impact of sectoral decline on its bottom line. NRS grew its installed
base, revenue and income from operations and saw increased contributions from newer offerings while continuing to introduce additional
services. BOSS Money, the key component of the Fintech segment delivered over 40% growth in both transaction volume and revenue. net2phone
increased seats served, total revenue, subscription revenue and operating margins. Within the Traditional Communications segment, IDT
Digital Payments grew revenue, IDT Global was able to mitigate the bottom-line impact of continued revenue declines, while cost cutting
and streamlining continued. On a consolidated basis, the Company delivered record levels of gross profit and gross profit margin.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
and Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
for Fiscal Year 2024</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 20, 2023, the Compensation Committee approved executive compensation goals for Fiscal 2024. The goals cover
Company-wide targets as well as goals for specific business units and other groups. The goals are detailed and, in many instances, consist
of specific operational achievements related to an identified effort or unit. The key goals set for Fiscal 2024 include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, profitability, EBITDA less capital expenditures above budgeted
                                            levels, generating free cash flow and cutting costs from prior year;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals (including as to revenue and profitability) with respect to specific business
                                            units, including Boss PINLESS, IDT Global, Mobile Top-Up, Boss Money, net2phone and NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growing
                                            NRS&#8217; POS network and NRS Pay accounts, achieving targeted revenue growth for advertising
                                            and data sales;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launching
                                            a tablet-based POS terminal and other operational improvements at NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growing
                                            net2phone seats domestically and internationally, improvements to stability and adding redundancy
                                            and premium plans;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Building
                                            out AI product and development team at net2phone;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Completing
                                            net2phone&#8217;s mobile app overhaul unifying voice, video, messaging, contact and calendar;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
                                            BOSS Money at breakeven or better, establishing the US as a destination corridor, while expanding
                                            delivery methods and retail network, reducing payout costs and banking fees and broadening
                                            geographic scope of licenses;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expanding
                                            international geographic scope of Top-Up and gift offerings and continued buildout of the
                                            Zendit platform;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launching
                                            or further developing early-stage businesses.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 18, 2024, management reported to the Compensation Committee on the Company&#8217;s performance relative to
the above goals as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company substantially achieved all key financial goals; minor shortfalls were more than offset
                                            by overachievement of other goals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS
                                            met or exceeded its financial and customer growth goals, and achieved over 85% of its targets
                                            for advertising and data sales;</span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="margin-top: 0; margin-bottom: 0"></p>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS
                                            launched a tablet-based POS terminal and between 50% and 100% of other operational goals
                                            with the exception of certain integration goals which were not met;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone
                                            met at a level of 95% -100% its financial and customer growth goals, 85% or greater of its
                                            operational goals, built out AI product and development teams, introduced premium plans,
                                            and completed the overhaul of its mobile app;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BOSS
                                            Money met or exceeded its financial goals and goals for improvements to its network and cost
                                            structure, but failed to introduce the U.S. as a destination corridor;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Top-Up
                                            substantially met its financial goals and plans for the Zendit platform, but did not achieve
                                            its goals for geographic expansion;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company advanced several early-stage ventures.</span></td></tr></table>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
considering the key goals listed above as well as the other goals approved by the Compensation Committee, the Compensation Committee
concluded that the Company had substantially met or exceeded the significant majority of the key quantitative and qualitative goals,
while certain of the goals that were not met had been de-emphasized due to market or other conditions that arose during the fiscal year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bonus
Awards for Fiscal 2024 Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
light of the performance relative to the enumerated goals and the overall financial performance of the Company, in particular the top
line and bottom line performance of the Company&#8217;s higher-margin growth businesses, the fact that they are contributing positively
to the Company&#8217;s bottom line, operational improvements, including feature and product enhancements, back-end improvements, cost-management
and success in mitigating the sectoral decline in the traditional communications market, management recommended performance bonuses for
management that were approximately 4.1% higher than those paid for services provided in Fiscal 2023. As a percentage of base salary,
the amounts paid ranged from 42.5% to 120% of the executive officer&#8217;s base salary. The following individual bonus levels were determined
and paid in early Fiscal 2025 in respect of services provided in Fiscal 2024:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
                                            Jonas was awarded a cash bonus of $595,000, an increase from the $580,425 paid to him for
                                            services provided in Fiscal 2023. In Fiscal 2024, he continued to provide overall strategic
                                            guidance and directed efforts in setting priorities and goals for each of the Company&#8217;s
                                            segments and the operational units within such segments. He guided decisions on new offerings
                                            and changes to existing offerings, while maintaining strong discipline regarding spending.
                                            He was directly involved in budgeting decisions and drove final decisions regarding allocation
                                            of resources and in setting priorities for development. He set the tone of striving for outstanding
                                            performance and high expectations.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
                                            Fischer was awarded a cash bonus of $295,000, an increase from the $269,775 paid to him for
                                            services provided in Fiscal 2023. As CFO, Mr. Fischer is one of the principal executives
                                            responsible for strategic planning and budgeting and executing on the strategic initiatives
                                            of the Company. He plays an essential role in preparing models and projections for business
                                            units and managing costs as well as in revenue-generating initiatives. Mr. Fischer plays
                                            a key role in investor relations and communications with market professionals. In fiscal
                                            2024, Mr. Fischer was instrumental in the factors that led to the Company&#8217;s financial
                                            performance that exceeded budgets overall and at the business unit level.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
                                            Pereira was awarded a cash bonus of $500,000 (of which $350,000 was paid in cash and the
                                            remainder of which was satisfied via the previous issuance of deferred stock units), an increase
                                            from the $490,500 paid to him for services provided in Fiscal 2023. In accordance with his
                                            Amended and Restated Employment Agreement, Mr. Pereira earned a bonus, which he elected (as
                                            provided for under the employment agreement) to receive in the form of 39,155 shares of Class
                                            B Common Stock, upon the Company meeting the targets set forth in that agreement in Fiscal
                                            2024 which was paid by the issuance of restricted shares of Class B Common Stock (as described
                                            below). During Fiscal 2024, he oversaw day-to-day operations for the Company&#8217;s business
                                            units, providing direction to divisional management while addressing developments and internal
                                            and external factors that impacted the Company&#8217;s ability to carry out its strategic
                                            initiatives. Mr. Pereira plays a key role in the management of the business units within
                                            the Fintech and Traditional Communications segment and has been instrumental in efforts to
                                            manage sectoral factors driving significant revenue declines and mitigating the impact on
                                            the segment&#8217;s and its business units&#8217; bottom line. He helps to shape growth strategies
                                            and set priorities for the Company and to execute those strategies.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in">&#160;</p>

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

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
                                            Ash was paid a cash bonus of $170,000 (in addition to the extraordinary bonus received earlier
                                            in the year), a decrease from the $183,500 paid to him for services provided in Fiscal 2023.
                                            Earlier in Fiscal 2024, Mr. Ash received an extraordinary bonus of $1,000,000 in connection
                                            with an extraordinary positive event with respect to which he was closely associated. Mr.
                                            Ash is responsible for supporting existing operations and plays a significant role in various
                                            strategic initiatives, as well as risk management and overseeing legal proceedings and disputes.
                                            Mr. Ash is also actively involved in the legal aspects of dealing with third parties, including
                                            commercial relationships and strategic partnerships.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
                                            Wartell received a cash bonus of $185,000, an increase from the $150,000 paid to him for
                                            services provided in Fiscal 2023. As the Company&#8217;s Chief Technology Officer, Mr. Wartell
                                            is responsible for managing all technology development at the Company. He is instrumental
                                            in planning development goals and determining what can be accomplished, as well as allocation
                                            of resources. A significant number of the goals set by the Compensation Committee related
                                            to new product development and product enhancements, which have become key competitive factors
                                            and essential for the Company&#8217;s operating units, particularly those that are technology
                                            focused, to distinguish their offering on the marketplace. Mr. Wartell is also responsible
                                            for ensuring that the technology group has the skill and resources necessary to meet the
                                            evolving and growing needs of the business units.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
                                            S. Jonas did not receive a cash bonus for services provided in Fiscal 2023 or Fiscal 2024.
                                            Howard Jonas serves as the Company&#8217;s Chairman and provides strategic guidance to the
                                            Company and is actively involved in all major decisions and in the implementation of key
                                            initiatives for the Company.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Base
Salaries</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company paid base salaries to its executives intended to meet the goals and purposes outlined above. The base salaries of certain executives
are set forth in written agreements with the Company. Subject to those written agreements, the base salaries are set by the Compensation
Committee on an annual basis, based on presentations made by management. No changes were made to the base compensation of any Named Executive
Officers from the Fiscal 2024 levels.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Fifth Amended and Restated Employment Agreement (the &#8220;Fifth Amended H. Jonas Agreement&#8221;), effective January 1, 2021,
between the Company and Howard Jonas that is discussed in more detail below, Howard Jonas receives a cash base salary of $250,000 per
annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
Jonas receives a base salary of $495,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
Fischer receives a base salary of $450,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the agreement described below, Bill Pereira receives a base salary of $500,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Ash receives a base salary of $400,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Wartell receives a base salary of $300,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Grants</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
of the Company&#8217;s Executive Officers participated in the Fiscal 2023 broad-based grant of deferred stock units (DSUs) under the
Company&#8217;s 2022 Equity Growth Program, which grants continued to be eligible for vesting in Fiscal 2024. Grants under that program
serve to create incentives for outstanding performance that drives increases in the stock price for the Company&#8217;s Class B Common
Stock, and create opportunities to enhance the value to be received by retaining risk with respect to grants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
Fiscal 2024, Mr. Pereira received (a) a grant of 39,155 restricted shares of Class B Common Stock that vested in full upon grant (in
connection with the achievement of milestones set forth in the employment agreement between the Company and Mr. Pereira) and (b) a grant
of 23,500 DSUs under the 2022 Equity Growth Program (which were issued in lieu of a portion of the cash bonus awarded to him.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
for Fiscal Year 2025</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 18, 2024, the Compensation Committee approved executive compensation goals for Fiscal 2025. The goals cover
Company-wide targets as well as goals for specific business units and other groups. The goals are detailed and, in many instances, consist
of specific operational achievements related to an identified effort or unit. The key goals set for Fiscal 2025 include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, gross profit, EBITDA less capital expenditures above budgeted
                                            levels and cutting costs from prior year;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals (including as to revenue and gross profit) with respect to specific business
                                            units, including Boss PINLESS, IDT Global, Mobile Top-Up, Boss Money, net2phone and NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            the NRS POS network and NRS Pay accounts to specified targets, and achieve targeted revenue
                                            growth for advertising and data sales;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            presence in specified verticals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhance
                                            technological offerings at the point of sale;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            seats domestically and internationally;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            marketing channels;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrate
                                            offerings with additional communications platforms;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            operational stability and uptime statistics;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BOSS
                                            Money:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Introduce
                                            expanded customer offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lower
                                            costs of payouts;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduce
                                            anti-fraud costs;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9676;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secure
                                            new licenses and payment corridors;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Traditional
                                            Communications:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            integration of BOSS offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Introduce
                                            E-Sim product for BOSS Pinless;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            backend functionality;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            various new ventures within the Fintech segment;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology
                                            team to improve internal reporting, and support of business units, including on improving
                                            uptime.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Decisions Made in Fiscal 2023</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Company
Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fiscal
2023 was notable for the growth and improved profitability for the Company&#8217;s high margin growth businesses. NRS added significantly
to its customer base as it continued to expand the range of services it provides and increased revenue from a variety of sources. net2phone
delivered significant domestic and international growth in seats while growing subscription revenue (a key performance metric for that
business) by 25% and focusing on its relatively new CCaaS offering. BOSS Money grew transaction volume and further enhanced its network
of payers. The Traditional Telecom segment continued to streamline operations and took initiative to stem the impact of secular declines
in per-minute calling. Mobile Top-Up had a challenging year, but is positioning itself for a return to growth. The Company saw increasing
benefits from cross-selling offerings, particularly within its BOSS Revolution ecosystem. Corporate and divisional management were key
to all developments and the technology development team played essential roles in the execution of many operational enhancements and
new products and features.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
and Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
for Fiscal Year 2023</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 19, 2022, the Compensation Committee approved executive compensation goals for Fiscal 2023. The goals cover
Company-wide targets as well as goals for specific business units and other groups. The goals are detailed and, in many instances, consist
of specific operational achievements related to an identified effort or unit. The key goals set for Fiscal 2023 include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, profitability, EBITDA less capital expenditures above budgeted
                                            levels, generating free cash flow and generating higher profits or cutting costs from prior
                                            year;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals with respect to specific business units, including Boss Calling, IDT Global,
                                            Mobile Top-Up, Boss Money, net2phone and NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Relaunch
                                            wireless offering nationally and achieve certain customer levels;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launch
                                            updated retailer portal across multiple product lines with cross-product functionality;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            net2phone revenue and seats (domestic and international), reduce variable costs and improve
                                            operating efficiencies, enhance user experience, roll out additional features, and improve
                                            uptime;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            NRS&#8217; revenues, POS terminal network, NRS Pay and advertising and data sales, offer
                                            additional services for merchants;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            Mobile Top-Up revenue and profitability, migrate all activity to new platform; and add promotional
                                            tools; diversify revenues through specific new offerings and improve B2B penetration;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            Boss Money &#8211; retail and D2C, address identified technological issues; improve risk
                                            management and consumer communication, increase efficiencies in back-end processing, grow
                                            payer network and expand origination in Canada;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhance
                                            Boss Revolution Calling beyond per minute basis.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 20, 2023, management reported to the Compensation Committee on the Company&#8217;s performance relative to
the above goals as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, profitability, EBITDA less capital expenditures above budgeted
                                            levels, generating free cash flow and generating higher profits or cutting costs from prior
                                            year:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company either substantially (over 90%) met or exceeded each of the enumerated goals;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals with respect to specific business units, including Boss Calling, IDT Global,
                                            Mobile Top-Up, Boss Money, net2phone and NRS:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            goals were substantially (over 90%) met or exceeded by the business units, other than NRS,
                                            which achieved approximately 85% of the targeted amounts on a segment basis and between 68%
                                            and 116% with regard to specific metrics;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Relaunch
                                            wireless offering nationally and achieve certain customer levels;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            offering was relaunched, but the customer levels achieved were only 42% of the target;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launch
                                            updated retailer portal across multiple product lines with cross-product functionality;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            goal was accomplished;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            net2phone revenue and seats (domestic and international), reduce variable costs and improve
                                            operating efficiencies, enhance user experience, roll out additional features, and improve
                                            uptime;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue
                                            and domestic goals were completely met, international growth was approximately 80% of target
                                            and other goals were between 50% and 99% accomplished;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            NRS&#8217; revenues, POS terminal network, NRS Pay and advertising and data sales, offer
                                            additional services for merchants;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue
                                            growth was 85% of targeted amounts, POS terminal and NRS Pay growth targets were exceeded,
                                            ad data sales growth achieved 68% of targeted amount and most additional services were successfully
                                            rolled out;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            Mobile Top-Up revenue and profitability, migrate all activity to new platform; and add promotional
                                            tools; diversify revenues through specific new offerings and improve B2B penetration;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            targets were over 90% met, platform migration was 95% accomplished, promotional tool additions
                                            were 90% accomplished, diversification of revenues goals were 65% met and B2B penetration
                                            goals were met;</span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="margin-top: 0; margin-bottom: 0"></p>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            Boss Money &#8211; retail and D2C, address identified technological issues; improve risk
                                            management and consumer communication, increase efficiencies in back-end processing, grow
                                            payer network and expand origination in Canada:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growth
                                            targets for retail and D2C were exceeded, technological issued were addressed with 97% success,
                                            other operational goals were over 90% achieved, payer network grew by 66% of the targeted
                                            amounts and targets for expanding originations in Canada were not met;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhance
                                            Boss Revolution Calling beyond per minute basis;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhancement
                                            90% achieved.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
considering the key goals listed above as well as the other goals approved by the Compensation Committee, the Compensation Committee
concluded that the Company had substantially met or exceeded almost all of the key quantitative and qualitative goals, while certain
of the goals that were not met had been de-emphasized due to market or other conditions that arose during the fiscal year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bonus
Awards for Fiscal 2023 Performance</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
light of the performance relative to the enumerated goals and the overall financial performance of the Company, in particular the top
line and bottom line performance of the Company&#8217;s higher-margin growth businesses, particularly the move toward self-funding and
profitability at those units, while continuing to limit the impact of the sector-wide decline in the Company&#8217;s Traditional Communications
segment&#8217;s operations, management recommended performance bonuses for management that were approximately 8-9% higher than those
paid for services provided in Fiscal 2022. As a percentage of base salary, the amounts paid ranged from 18% to 117% of the executive
officer&#8217;s base salary. The following individual bonus levels were determined and paid in early Fiscal 2024 in respect of services
provided in Fiscal 2023:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
                                            Jonas was awarded a cash bonus of $580,425 an increase from the $532,500 paid for services
                                            provided in Fiscal 2022. In Fiscal 2023, he continued to provide overall strategic guidance
                                            and directed efforts in setting priorities and goals for each of the Company&#8217;s business
                                            units and particularly in driving improvements in profitability of the Company&#8217;s growth
                                            businesses, while maintaining a focus on the fiscal conservatism that has been a hallmark
                                            of his tenure as CEO. He was instrumental in budgeting decisions and allocation of resources
                                            and in setting priorities for development. He continued to drive cost management and re-allocation
                                            of resources to enable the Company to maintain performance in extremely challenging competitive
                                            and industry environments.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
                                            Fischer was awarded cash a bonus of $269,775, an increase from the $247,500 paid for services
                                            provided in Fiscal 2022. As CFO, Mr. Fischer is one of the principal executives responsible
                                            for strategic planning and budgeting and executing on the strategic initiatives of the Company.
                                            He plays an essential role in preparing models and projections for business units and managing
                                            costs. Mr. Fischer plays a key role in investor relations and communications with market
                                            professionals. In fiscal 2023, Mr. Fischer was instrumental in the factors that led to the
                                            Company&#8217;s financial performance that exceeded budgets.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
                                            Pereira was awarded a bonus of $490,500, an increase from the $450,000 paid for services
                                            provided in Fiscal 2022, of which $340,500 was paid in cash and the remaining $150,000 is
                                            contingent to be paid via the award of Deferred Stock Units to Mr. Pereira upon the execution
                                            of an amended and restated employment agreement between the Company and Mr. Periera (as of
                                            November 1, 2023, such amended and restated employment agreement had not been executed and
                                            such $150,000 of Deferred Stock Units had not been awarded). During Fiscal 2023, he oversaw
                                            day-to-day operations for the Company&#8217;s business units, providing direction to divisional
                                            management while addressing developments and internal and external factors that impacted
                                            the Company&#8217;s ability to carry out its strategic initiatives. Mr. Pereira is an essential
                                            link between the executive, operational and financial teams at the Company and operating
                                            units. He helps to shape growth strategies and set priorities for the Company and to execute
                                            those strategies.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
                                            Ash was paid a cash bonus of $185,300, an increase from the $170,000 paid for services provided
                                            in Fiscal 2022. Mr. Ash is responsible for supporting existing operations and plays a significant
                                            role in various strategic initiatives, as well as risk management and overseeing legal proceedings
                                            and disputes. Mr. Ash is also actively involved in the legal aspects of dealing with third
                                            parties, including commercial relationships and strategic partnerships.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></p>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
                                            Wartell received a cash bonus of $150,000, equal to the bonus paid for services provided
                                            in Fiscal 2022. As the Company&#8217;s Chief Technology Officer, Mr. Wartell is responsible
                                            for managing all technology development at the Company. He is instrumental in planning development
                                            goals and determining what can be accomplished, as well as allocation of resources. A significant
                                            number of the goals set by the Compensation Committee related to new product development
                                            and product enhancements, which have become key competitive factors and essential for the
                                            Company&#8217;s operating units, particularly those that are technology focused, to distinguish
                                            their offering on the marketplace. Mr. Wartell is also responsible for ensuring that the
                                            technology group has the skill and resources necessary to meet the evolving and growing needs
                                            of the business units.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
                                            S. Jonas did not receive a cash bonus for services provided in Fiscal 2023 or Fiscal 2022.
                                            Howard Jonas serves as the Company&#8217;s Chairman and provides strategic guidance to the
                                            Company and is actively involved in all major decisions and in the implementation of key
                                            initiatives for the Company.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Base
Salaries</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company paid base salaries to its executives intended to meet the goals and purposes outlined above. The base salaries of certain executives
are set forth in written agreements with the Company. Subject to those written agreements, the base salaries are set by the Compensation
Committee on an annual basis, based on presentations made by management. No changes were made to the base compensation of any Named Executive
Officers from the Fiscal 2023 levels.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Fifth Amended and Restated Employment Agreement (the &#8220;Fifth Amended H. Jonas Agreement&#8221;), effective January 1, 2021,
between the Company and Howard Jonas that is discussed in more detail below, Howard Jonas receives a cash base salary of $250,000 per
annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
Jonas receives a base salary of $495,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
Fischer receives a base salary of $450,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the agreement described below, Bill Pereira receives a base salary of $500,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Ash receives a base salary of $400,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Wartell receives a base salary of $300,000 per annum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Grants</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
of the Company&#8217;s Executive Officers participated in the broad-based grant of DSUs under the 2022 Equity Growth Program which is
described in the Company&#8217;s financial statements included in the Form 10-K. Grants under that program serve to create incentives
for outstanding performance that drives increases in the stock price for the Company&#8217;s Class B Common Stock, and create opportunities
to enhance the value to be received by retaining risk with respect to grants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Messrs.
Fischer and Pereira each received a grant of 30,000 DSUs under the Growth Program with a grant date fair value of $816,000.&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Ash received (a) aggregate grants of 10,000 DSUs under the Growth Program with a total grant date value of $272,000, and (b) a grant
of 16,000 shares of restricted Class B Common Stock that will only vest if the closing price for the Class B Common Stock on the NYSE
is over $50 for 10 consecutive trading days prior to February 25, 2025. The restricted stock had a grant date value of $298,400.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Wartell received (a) aggregate grants of 10,000 DSUs under the Growth Program with a total grant date value of $272,000, and (b) a grant
of 8,000 shares of restricted Class B Common Stock that will only vest if the closing price for the Class B Common Stock on the NYSE
is over $50 for 10 consecutive trading days prior to February 25, 2025. The restricted stock had a grant date value of $149,200.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
set forth below, bonuses for fiscal 2022 performance for Shmuel Jonas, Marcelo Fischer and Bill Pereira were paid one-half in cash and
one half through the receipt of 10,654, 8,961 and 4,928 shares of Class B Common Stock, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goals
for Fiscal Year 2024</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
a meeting held on September 20, 2023, the Compensation Committee approved executive compensation goals for Fiscal 2024. The goals cover
Company-wide targets as well as goals for specific business units and other groups. The goals are detailed and, in many instances, consist
of specific operational achievements related to an identified effort or unit. The key goals set for Fiscal 2024 include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
                                            goals as to consolidated revenue, profitability, EBITDA less capital expenditures above budgeted
                                            levels, generating free cash flow and cutting costs from prior year;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            financial goals (including as to revenue and profitability) with respect to specific business
                                            units, including Boss PINLESS, IDT Global, Mobile Top-Up, Boss Money, net2phone and NRS;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NRS:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            the NRS POS network and NRS Pay accounts to specified targets, and achieve targeted revenue
                                            growth for advertising and data sales;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launch
                                            a tablet-based POS terminal;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            security measures and enhance service offerings, including at the loyalty program;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">net2phone:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grow
                                            seats domestically and internationally;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            operational stability and uptime statistics, including adding redundancy;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Add
                                            premium plans with non-standard feature sets;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Build
                                            out AI product and development team;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Complete
                                            mobile app overhaul unifying voice, video, messaging, contact and calendar;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BOSS
                                            Money:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operate
                                            at breakeven or better through top line growth and efficiencies;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establish
                                            the US as a destination corridor;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            delivery methods and retail network, while reducing payout costs and banking fees;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improve
                                            back-office efficiencies and eliminate redundant infrastructure;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secure
                                            additional international money remittance licenses;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mobile
                                            Top-Up:</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Explore
                                            strategies to migrate customers to D2C channel;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            international geographic scope of Top-Up and gift offerings;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">&#9676;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Continue
                                            buildout of the Zendit platform;</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launch
                                            or further develop earlier stage businesses.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Employment
Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to his Employment Agreement, Mr. Pereira is paid a base salary of $500,000 per year, and has a target annual bonus of $300,000, based
on performance and as approved by the Compensation Committee. Mr. Pereira is also entitled to participate in any of the Company&#8217;s
broad-based equity grants to its employees. Should Mr. Pereira&#8217;s employment be terminated without Cause or should he resign for
Good Reason (as such terms are defined in the agreement), the Company will be obligated to pay him severance of $800,000. The agreement
continues until it is terminated by either the Company or Mr. Pereira.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 30; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXECUTIVE
COMPENSATION TABLES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
Compensation Table</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below summarizes the total compensation paid or awarded for performance during Fiscal 2025, Fiscal 2024 and Fiscal 2023 to each
of the Chief Executive Officer, the Chief Financial Officer and the three other highest paid executive officers of the Company during
Fiscal 2025, and Howard S. Jonas, the Chairman and the Chairman of the Board (collectively, the &#8220;Named Executive Officers&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">Name and Principal Position</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year</td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Salary <br/> ($)</td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Bonus <br/> ($)</td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock <br/> Awards <br/> ($)<sup>(1)</sup> &#160;</span></td><td style="padding-bottom: 1pt"><sup>&#160;</sup></td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Option <br/> Awards <br/> ($)<sup>(1)</sup></span></td><td style="padding-bottom: 1pt"><sup>&#160;</sup></td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">All Other <br/> Compensation <br/> ($)</td><td style="padding-bottom: 1pt"><sup>&#160;</sup></td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total <br/> ($)</td><td style="padding-bottom: 1pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 23%; text-align: left; text-indent: 0pt; padding-left: 0pt">Shmuel Jonas</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">2025</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">495,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">684,250</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left"><sup></sup></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">300,003</td><td style="width: 1%; text-align: left">&#160;<sup>(2)</sup></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left"><sup>&#160;</sup></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 7%; text-align: right">1,479,253</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0.125in">Chief Executive Officer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2024</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">495,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">595,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,090,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: 0pt; padding-left: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2023</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">495,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">580,425</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,075,425</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Bill Pereira</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2025</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">500,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">925,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,824,231</td><td style="text-align: left">&#160;<sup>(3)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left"><sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">22,063</td><td style="text-align: left">&#160;<sup>(4)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,271,294</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0.125in">President and Chief Operating Officer,</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2024</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">500,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">350,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,293,930</td><td style="text-align: left">&#160;<sup>(5)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,000</td><td style="text-align: left">&#160;<sup>(6)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,145,930</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic; text-align: left; text-indent: 0pt; padding-left: 0.125in">Ex-Officio Board Member</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2023</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">500,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">340,500</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">816,000</td><td style="text-align: left">&#160;<sup>(7)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,000</td><td style="text-align: left">&#160;<sup>(6)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,658,500</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Marcelo Fischer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2025</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">450,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">339,250</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">681,793</td><td style="text-align: left">&#160;<sup>(8)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">300,003</td><td style="text-align: left">&#160;<sup>(2)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">13,250</td><td style="text-align: left">&#160;<sup>(4)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,784,296</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0.125in">Chief Financial Officer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2024</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">450,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">295,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,000</td><td style="text-align: left">&#160;<sup>(6)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">747,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: 0pt; padding-left: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2023</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">450,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">269,775</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">816,000</td><td style="text-align: left">&#160;<sup>(9)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,000</td><td style="text-align: left">&#160;<sup>(6)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,537,755</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">David Wartell</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2025</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">300,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">195,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,275</td><td style="text-align: left">&#160;<sup>(10)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">498,275</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0.125in">Chief Technology Officer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2024</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">300,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">185,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">800</td><td style="text-align: left">&#160;<sup>(11)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">485,800</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: 0pt; padding-left: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2023</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">300,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">150,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">421,200</td><td style="text-align: left">&#160;<sup>(12)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">871,200</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Menachem Ash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2025</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">400,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">687,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">18,941</td><td style="text-align: left">&#160;<sup>(13)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4,675</td><td style="text-align: left">&#160;<sup>(14)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,110,616</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0.125in">Executive Vice President of Strategy and Legal Affairs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2024</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">400,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,185,300</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,600</td><td style="text-align: left">&#160;<sup>(15)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,588,900</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: 0pt; padding-left: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2023</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">400,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">185,300</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">570,400</td><td style="text-align: left">&#160;<sup>(16)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,000</td><td style="text-align: left">&#160;<sup>(6)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,157,700</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Howard S. Jonas</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2025</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt; padding-left: 0.125in">Chairman and</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2024</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: 0pt; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board&#160;<sup>(17)</sup></span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2023</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;<sup>&#160;</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    amounts shown in these columns reflect the aggregate grant date fair value of restricted stock awards, deferred stock units and option
    awards computed in accordance with FASB ASC Topic 718. In valuing such awards, the Company made certain assumptions. For a discussion
    of those assumptions, please see Note 20 &#8211; Stock-Based Compensation to our Consolidated Financial Statements included in the
    Form 10-K. Holders of restricted shares of Class B Common Stock are entitled to receive any dividends paid on Class B Common Stock.
    Stock Awards include the value of stock awards made in a subsequent fiscal year for services provided during the fiscal year in question.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of a grant on September 30, 2025 of 18,094 options, with a five-year term, to purchase shares of Class B Common Stock
    at $38.43 per share that vest with respect to 6,032 options on October 15, 2025 and 6,031 options on each of October 15, 2026 and
    October 15, 2027.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of a grant on October 16, 2024 of 39,155 restricted shares of Class B Common Stock that vested in full upon grant.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the value of shares of Class B Common Stock given as a matching contribution to the IDT Corporation 401(k) Plan and dividend equivalents
    paid upon the vesting of DSUs.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of (a) a grant on March 15, 2024 of 39,155 restricted shares of Class B Common Stock that vested in full upon grant
    and (b) a grant on January 12, 2024 of 23,500 DSUs. &#160;Each DSU was the right to receive between one-half of a share and two shares
    of Class B Common Stock. Vesting was originally scheduled as to 15,667 shares on February 21, 2024 and 7,833 shares on February 25,
    2025. The number of shares of Class B Common Stock to be issued for each DSU depended on the market price for the Class B Common
    Stock as of the relevant vesting date. One-half of a share would be issued for each DSU if the market price on the vesting date was
    less than $12.705 (50% of the grant date value of a share of Class B Common Stock) and two shares would be issued for each DSU if
    the market price on the vesting date was $50.82 (200% of the grant date value) or greater, with a proportionate amount to vest based
    on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value. Mr. Pereira
    elected to defer the vesting in February 2024, and the related issuance of shares of Class B Common Stock, to the next vesting date
    in February 2025.&#160;&#160;On February 25, 2025, upon vesting in full, Mr. Pereira received 44,063 shares of Class B Common Stock
    from the 23,500 DSUs held by him.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 31; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the value of shares of Class B Common Stock given as a matching contribution to the IDT Corporation 401(k) Plan.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of a grant on December 5, 2022 of 30,000 DSUs. Each DSU was the right to receive between one-half of a share and two
    shares of Class B Common Stock. Vesting was originally scheduled in equal one-third installments in May 2023, February 2024 and February
    2025. The number of shares of Class B Common Stock that would be issued for each DSU depended on the market price for the Class B
    Common Stock as of the relevant vesting date. One-half of a share would be issued for each DSU if the market price on the vesting
    date was less than $12.705 (50% of the grant date value of a share of Class B Common Stock) and two shares would be issued for each
    DSU if the market price on the vesting date was $50.82 (200% of the grant date value) or greater, with a proportionate amount to
    vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value.
    Mr. Pereira elected to defer the vesting in May 2023 and in February 2024, and the related issuances of shares of Class B Common
    Stock, of two-thirds of the 30,000 DSUs to the vesting date in February 2025. On February 25, 2025, upon vesting in full, Mr. Pereira
    received 56,250 shares of Class B Common Stock from the 30,000 DSUs held by him.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of a grant on September 18, 2024 of 15,624 DSUs. Each DSU is the right to receive between one-half of a share and two
    shares of Class B Common Stock. Vesting was originally scheduled in equal one-third installments in October 2025, October 2026 and
    October 2027. The number of shares of Class B Common Stock that will be issued for each DSU depends on the market price for the Class
    B Common Stock as of the relevant vesting date. One-half of a share will be issued for each DSU if the market price on the vesting
    date is less than $19.20 (50% of the grant date value of a share of Class B Common Stock) and two shares will be issued for each
    DSU if the market price on the vesting date is $76.80 (200% of the grant date value) or greater, with a proportionate amount to vest
    based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value. Mr.
    Fischer elected to defer the vesting in October 2025, and the related issuance of shares of Class B Common Stock, of one-third of
    the 15,624 DSUs to the next vesting date in October 2026.&#160; As of the grant date and as of October 17, 2025, upon vesting in
    full, Mr. Fischer was entitled to receive between 7,812 and 31,248 shares of Class B Common Stock from the 15,624 DSUs held by him.
    &#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of a grant on December 5, 2022 of 30,000 DSUs. Each DSU was the right to receive between one-half of a share and two
    shares of Class B Common Stock. Vesting was originally scheduled in equal one-third installments in May 2023, February 2024 and February
    2025. The number of shares of Class B Common Stock that would be issued for each DSU depended on the market price for the Class B
    Common Stock as of the relevant vesting date. One-half of a share would be issued for each DSU if the market price on the vesting
    date was less than $12.705 (50% of the grant date value of a share of Class B Common Stock) and two shares would be issued for each
    DSU if the market price on the vesting date was $50.82 (200% of the grant date value) or greater, with a proportionate amount to
    vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value.
    Mr. Fischer elected to defer the vesting in May 2023 and in February 2024, and the related issuances of shares of Class B Common
    Stock, of two-thirds of the 30,000 DSUs to the vesting date in February 2025. On February 25, 2025, upon vesting in full, Mr. Fischer
    received 56,250 shares of Class B Common Stock from the 30,000 DSUs held by him.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    cash dividends paid on unvested restricted shares of Class B Common Stock and dividend equivalents paid on DSUs upon vesting.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    cash dividends paid on unvested restricted shares of Class B Common Stock.</span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<!-- Field: Page; Sequence: 32; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of: (a) the value of a grant on December 5, 2022 of 7,000 DSUs. Each DSU was the right to receive between one-half of a share and
    two shares of Class B Common Stock. Vesting was originally scheduled in approximately equal one-third installments in May 2023, February
    2024 and February 2025. The number of shares of Class B Common Stock that would be issued for each DSU depended on the market price
    for the Class B Common Stock as of the relevant vesting date. One-half of a share would be issued for each DSU if the market price
    on the vesting date was less than $12.705 (50% of the grant date value of a share of Class B Common Stock) and two shares would be
    issued for each DSU if the market price on the vesting date was $50.82 (200% of the grant date value) or greater, with a proportionate
    amount to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date
    value. Mr. Wartell elected to vest 2,334 DSUs in May 2023 and receive 2,918 shares of Class B Common Stock and to defer the vesting
    in February 2024, and the related issuances of shares of Class B Common Stock, of 2,333 DSUs to the vesting date in February 2025;
    on February 25, 2025, upon vesting of his remaining 4,666 DSUs, Mr. Wartell received 8,749 shares of Class B Common Stock from the
    remaining 4,666 DSUs held by him; (b) the value of a grant on May 16, 2023 of 3,000 DSUs. Each DSU was the right to receive between
    one-half of a share and two shares of Class B Common Stock. Vesting was originally scheduled two-thirds in February 2024 and one-third
    in February 2025. The number of shares of Class B Common Stock that would be issued for each DSU depended on the market price for
    the Class B Common Stock as of the relevant vesting date. One-half of a share would be issued for each DSU if the market price on
    the vesting date was less than $12.705 (50% of the grant date value of a share of Class B Common Stock) and two shares would be issued
    for each DSU if the market price on the vesting date was $50.82 (200% of the grant date value) or greater, with a proportionate amount
    to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value.
    Mr. Wartell elected to defer the vesting in February 2024, and the related issuances of shares of Class B Common Stock, of two-thirds
    of the 3,000 DSUs to the vesting date in February 2025. On February 25, 2025, upon vesting in full, Mr. Wartell received 5,625 shares
    of Class B Common Stock from the 3,000 DSUs held by him; and (c) the value of a grant on May 16, 2023 of 8,000 restricted shares
    of Class B Common Stock that <span style="background-color: white">vest, and vest in full, only if the Class B </span>Common Stock
    <span style="background-color: white">closes above $50 per share for 10 consecutive trading days prior to February 25, 2025; such
    vesting occurred on December 5, 2024 when the vesting condition was satisfied.</span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of the value of (a) a grant on August 6, 2024 of 259 restricted shares of Class B Common Stock that vested in full upon grant; and
    (b) a grant on April 28, 2025 of 181 restricted shares of Class B Common Stock that vested in full upon grant.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the value of shares of Class B Common Stock given as a matching contribution to the IDT Corporation 401(k) Plan, cash dividends paid
    on unvested restricted shares of Class B Common Stock and dividend equivalents paid on DSUs upon vesting.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the value of shares of Class B Common Stock given as a matching contribution to the IDT Corporation 401(k) Plan and cash dividends
    paid on unvested restricted shares of Class B Common Stock.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(16)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of: (a) the value of a grant on December 5, 2022 of 7,000 DSUs. Each DSU was the right to receive between one-half of a share and
    two shares of Class B Common Stock. Vesting was originally scheduled in approximately equal one-third installments in May 2023, February
    2024 and February 2025. The number of shares of Class B Common Stock that would be issued for each DSU depended on the market price
    for the Class B Common Stock as of the relevant vesting date. One-half of a share would be issued for each DSU if the market price
    on the vesting date was less than $12.705 (50% of the grant date value of a share of Class B Common Stock) and two shares would be
    issued for each DSU if the market price on the vesting date was $50.82 (200% of the grant date value) or greater, with a proportionate
    amount to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date
    value. Mr. Ash elected to vest 2,334 DSUs in May 2023 and receive 2,918 shares of Class B Common Stock and, in February 2024, he
    elected to vest 1,167 DSUs and receive 1,605 shares of Class B Common Stock and to defer 1,166 DSUs to the vesting date in February
    2025; on February 25, 2025, upon the vesting of his remaining 3,499 DSUs, Mr. Ash received 6,561 shares of Class B Common Stock from
    the remaining 3,499 DSUs held by him; (b) the value of a grant on March 2, 2023 of 3,000 DSUs. Each DSU was the right to receive
    between one-half of a share and two shares of Class B Common Stock. Vesting was originally scheduled in approximately equal one-third
    installments in May 2023, February 2024 and February 2025. The number of shares of Class B Common Stock that would be issued for
    each DSU depended on the market price for the Class B Common Stock as of the relevant vesting date. One-half of a share would be
    issued for each DSU if the market price on the vesting date was less than $12.705 (50% of the grant date value of a share of Class
    B Common Stock) and two shares would be issued for each DSU if the market price on the vesting date was $50.82 (200% of the grant
    date value) or greater, with a proportionate amount to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%,
    150%, 162.5%, 175% and 187.5% of the grant date value. Mr. Ash elected to vest 1,000 DSUs in May 2023 and receive 1,250 shares of
    Class B Common Stock and, in February 2024, elected to vest 500 DSUs and receive 688 shares of Class B Common Stock and to defer
    500 DSUs to the vesting date in February 2025; on February 25, 2025, upon vesting of his remaining 1,500 DSUs, Mr. Ash received 2,813
    shares of Class B Common Stock from the remaining 1,500 DSUs held by him; and (c) the value of a grant on March 2, 2023 of 16,000
    restricted shares of Class B Common Stock that <span style="background-color: white">vest, and vest in full, only if the Class B
    </span>Common Stock <span style="background-color: white">closes above $50 per share for 10 consecutive trading days prior to February
    25, 2025; such vesting occurred on December 5, 2024 when the vesting condition was satisfied.&#160;&#160;</span></span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<!-- Field: Page; Sequence: 33; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(17)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
    September 19, 2022, the Board of Directors of the Company adopted the Company&#8217;s Eighth Amended and Restated By-Laws, effective
    as of September 19, 2022, with the effect of authorizing the Company to appoint, at the discretion of the Board, a Chairman, an officer
    position. Howard S. Jonas was elected Chairman, an executive officer position, on September 19, 2022. On April 6, 2020, the Board
    of Directors adopted the Company&#8217;s Sixth Amended and Restated By-Laws, effective as of April 6, 2020, with the effect of changing
    the position of Chairman of the Board from an officer position to a non-executive Board position. Between April 6, 2020 and September
    19, 2022, Howard S. Jonas was not an officer of the Company.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employment
Agreements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Shmuel
Jonas, David Wartell and Menachem Ash</i>: None of Shmuel Jonas, David Wartell and Menachem Ash is a party to an employment agreement
with the Company or any of its subsidiaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bill
Pereira</i>: On December 21, 2023, the Company entered into an Amended and Restated Agreement (the &#8220;Pereira Agreement&#8221;) with
Bill Pereira, who currently serves as President and Chief Operating Officer. The Pereira Agreement supersedes the Amended and Restated
Employment Agreement, dated December 5, 2017, between the Company and Mr. Pereira. The Pereira Agreement provides for a base salary of
$500,000 per year and a target annual bonus of $300,000 (of which $150,000 will be deemed satisfied by virtue of a portion of the equity
grants described below), based on performance and as approved by the Compensation Committee of the Company&#8217;s Board of Directors.
Mr. Pereira also received certain equity grants, consisting of 23,500 DSUs representing the right to receive between 11,750 and 47,000
shares of Class B Common Stock, 50,000 restricted shares of Class B common stock of the Company&#8217;s subsidiary net2phone 2.0, Inc.
(&#8220;n2p&#8221;), an award of DSUs representing 0.3875% of the outstanding stock of n2p, and will be entitled to participate in any
broad-based equity grants to the Company&#8217;s employees. In addition, Mr. Pereira will be entitled to receive a contingent bonus subject
to the completion of certain financial milestones, as set forth in the Pereira Agreement; three of these milestones were achieved, for
which the Company issued to Mr. Pereira 39,155 shares of its Class B common stock in Fiscal 2024, an additional 39,155 shares of its
Class B common stock in Fiscal 2025 and a $500,000 bonus for hitting one of the milestones in Fiscal 2025. Should Mr. Pereira&#8217;s
employment be terminated without Cause or should he resign for Good Reason (as such terms are defined in the Pereira Agreement), the
Company will be obligated to pay to Mr. Pereira severance of $800,000. The Pereira Agreement continues through January 31, 2027, or until
it is terminated by either the Company or Mr. Pereira. In the event that Mr. Pereira is employed by the Company through but not after
January 31, 2027 because the Pereira Agreement has expired and his employment has not been continued after January 31, 2027 on any terms,
including resignation by Mr. Pereira, the $800,000 Severance will additionally include a pro-rated portion (based on the portion of fiscal
year 2027 during which he was employed) of his target bonus for fiscal year 2027.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Marcelo
Fischer</i>: On November 13, 2008, Marcelo Fischer and the Company entered into a Confidential Release and Retention Agreement, which
is described below under &#8220;Potential Payments Upon Termination or Change-in-Control.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Howard
S. Jonas</i>: <span style="background-color: white">Effective January 1, 2021, </span>the Company and Howard S. Jonas entered into the
<span style="background-color: white">Fifth Amended and Restated Employment Agreement (the &#8220;Fifth </span>Revised Jonas Agreement<span style="background-color: white">&#8221;)
</span>with an initial term from January 1, 2021 to December 31, 2021, which <span style="background-color: white">automatically extends
for additional one-year periods unless prior notice is given by either party, which has not occurred. Pursuant to the Fifth </span>Revised
Jonas Agreement<span style="background-color: white">, Howard S. Jonas receives (i) an annual cash base salary of $250,000 for his role
as senior advisor to the Chief Executive Officer and, if so designated by the Board of Directors, Chairman of the Board of the Company
and (ii) discretionary bonuses approved by the Chief Executive Officer or the Compensation Committee of the Company&#8217;s Board of
Directors. </span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 34; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, including pursuant to their employment agreements, executives are eligible to receive bonuses based upon performance, including
the specific financial and other goals set by the Compensation Committee of the Board of Directors as described above in the Compensation
Discussion and Analysis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Grants
of Plan-Based Awards</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information concerning the number of shares of Class B Common Stock underlying stock options, restricted shares
of Class B Common Stock and deferred stock units granted to the Named Executive Officers in Fiscal 2025 as Plan-based awards. All of
the following equity awards were issued pursuant to the 2015 Plan or the 2024 Plan. There are no estimated future payouts in connection
with such awards.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold">Name</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Type of Award</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Grant Date</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">All Other Stock<br/> Awards;<br/> Number of<br/> Shares of Stock<br/> or Units (#)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">All Other Option<br/> Awards; Number<br/> of Securities<br/> Underlying Options<br/> (#)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise or<br/> Base Price<br/> of Option<br/> Awards<br/> ($/Sh)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="border-bottom: black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Grant Date Fair<br/> Value of Stock<br/> and Option<br/> Awards<br/> ($)&#160;<sup>(1)</sup></b></span></p></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 17%; text-align: left">Shmuel Jonas</td><td style="width: 2%">&#160;</td>
    <td style="width: 16%; text-align: left">Stock Option</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/30/2024</span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">18,094</td><td style="width: 1%; text-align: left">&#160;<sup>(2)</sup></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">38.43</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">300,003</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Bill Pereira</td><td>&#160;</td>
    <td style="text-align: left">Restricted Stock</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/16/2024</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">39,155</td><td style="text-align: left">&#160;<sup>(3)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,494,546</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Marcelo Fischer</td><td>&#160;</td>
    <td style="text-align: left">Stock Option</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/30/2024</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">18,094</td><td style="text-align: left">&#160;<sup>(2)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">38.43</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">300,003</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Marcelo Fischer</td><td>&#160;</td>
    <td style="text-align: left">Deferred Stock Unit</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/18/2024</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">15,624</td><td style="text-align: left">&#160;<sup>(4)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">681,793</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">David Wartell</td><td>&#160;</td>
    <td>&#8212;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Menachem Ash</td><td>&#160;</td>
    <td style="text-align: left">Restricted Stock</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/06/2024</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">259</td><td style="text-align: left">&#160;<sup>(3)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">9,632</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Menachem Ash</td><td>&#160;</td>
    <td style="text-align: left">Restricted Stock</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">04/28/2025</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">181</td><td style="text-align: left">&#160;<sup>(3)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">9,309</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Howard S. Jonas</td><td>&#160;</td>
    <td>&#8212;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the grant date fair value of each equity award calculated in accordance with FASB ASC Topic 718.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such
    options have a five-year term and vest with respect to 6,032 options on October 15, 2025 and 6,031 options on each of October 15,
    2026 and October 15, 2027.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such
    restricted shares of Class B Common Stock vested in full upon grant.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
    DSU is the right to receive between one-half of a share and two shares of Class B Common Stock. Vesting was originally scheduled
    in equal one-third installments in October 2025, October 2026 and October 2027. The number of shares of Class B Common Stock that
    will be issued for each DSU depends on the market price for the Class B Common Stock as of the relevant vesting date. One-half of
    a share will be issued for each DSU if the market price on the vesting date is less than $19.20 (50% of the grant date value of a
    share of Class B Common Stock) and two shares will be issued for each DSU if the market price on the vesting date is $76.80 (200%
    of the grant date value) or greater, with a proportionate amount to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%,
    125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value. Mr. Fischer elected to defer the vesting in October 2025, and
    the related issuance of shares of Class B Common Stock, of one-third of the 15,624 DSUs to the next vesting date in October 2026.&#160;&#160;As
    of the grant date and as of October 17, 2025, upon vesting in full, Mr. Fischer was entitled to receive between 7,812 and 31,248
    shares of Class B Common Stock from the 15,624 DSUs held by him.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 35; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Outstanding
Equity Awards at Fiscal Year-End</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth all equity awards made to each of the Named Executive Officers that were outstanding at the end of Fiscal
2025. All of the following equity awards were issued pursuant to the 2015 Plan or the 2024 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Option Awards</td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Stock Awards</td><td style="padding-bottom: 1pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold">Name</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Securities<br/> Underlying<br/> Unexercised<br/> Options (#)<br/> Exercisable</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Securities<br/> Underlying<br/> Unexercised<br/> Options (#)<br/> Unexercisable</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Option<br/> Exercise<br/> Price<br/> ($)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Option<br/> Expiration<br/> Date</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Shares or<br/> Units of <br/> Stock That<br/> Have Not<br/> Vested<br/> (#)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market<br/> Value of<br/> Shares or<br/> Units of<br/> Stock That<br/> Have Not<br/> Vested<sup>(1)<br/> </sup>($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 16%; text-align: left">Shmuel Jonas</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">0</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">18,094</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">38.43</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/30/2029</span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Bill Pereira</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Marcelo Fischer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">15,064</td><td style="text-align: left">&#160;<sup>(2)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">887,420</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Marcelo Fischer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">18,094</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">38.43</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/30/2029</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">David Wartell</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Menachem Ash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Howard S. Jonas</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market
    value is computed by multiplying the closing market price of the Class B Common Stock on July 31, 2025, the last day that the stock
    was traded in Fiscal 2025 ($58.91), by the number of restricted shares of Class B Common Stock or DSUs that had not vested as of
    July 31, 2025. Such computation does not take into consideration the impact of certain vesting conditions. Please see Note 20 &#8211;
    Stock-Based Compensation to our Consolidated Financial Statements included in the Form 10-K.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of DSUs. Each DSU is the right to receive between one-half of a share and two shares of Class B Common Stock. Vesting was originally
    scheduled in equal one-third installments in October 2025, October 2026 and October 2027. The number of shares of Class B Common
    Stock that will be issued for each DSU depends on the market price for the Class B Common Stock as of the relevant vesting date.
    One-half of a share will be issued for each DSU if the market price on the vesting date is less than $19.20 (50% of the grant date
    value of a share of Class B Common Stock) and two shares will be issued for each DSU if the market price on the vesting date is $76.80
    (200% of the grant date value) or greater, with a proportionate amount to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%,
    125%, 137.5%, 150%, 162.5%, 175% and 187.5% of the grant date value. Mr. Fischer elected to defer the vesting in October 2025, and
    the related issuance of shares of Class B Common Stock, of one third of the 15,624 DSUs to the next vesting date in October 2026.&#160;&#160;As
    of the grant date and as of October 17, 2025, upon vesting in full, Mr. Fischer was entitled to receive between 7,812 and 31,248
    shares of Class B Common Stock from the 15,624 DSUs held by him.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Option
Exercises and Stock and Deferred Stock Units Vested</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information regarding the stock options exercised and the deferred stock units and restricted shares of Class
B Common Stock that vested for each of the Named Executive Officers in Fiscal 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="6" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Option
    Awards</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred
    Stock Units / Restricted Stock Awards</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number
    of<br/>
    Shares<br/>
    Acquired<br/>
    Upon<br/>
    Exercise<br/>
    (#)</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value<br/>
    Realized<br/>
    On<br/>
    Exercise<sup>(1) </sup><br/>
    ($)</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number
    of<br/>
    Shares<br/>
    Acquired<br/>
    Upon<br/>
    Vesting<br/>
    (#)</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number
    of<br/>
    Shares<br/>
    Withheld to<br/>
    Cover<br/>
    Taxes<br/>
    (#)</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value<br/>
    Realized on<br/>
    Vesting<br/>
    ($)<sup>(1)</sup></b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
    Jonas</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
    Pereira</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">39,155</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,979</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,862,063</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
    Pereira</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,313</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">51,093</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,992,578</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
    Fischer</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,250</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28,323</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,799,563</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Wartell</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,000</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,948</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">426,400</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Wartell</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,374</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,639</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">715,394</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
    Ash</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">259</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">93</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,047</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
    Ash</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,000</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,784</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">852,800</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
    Ash</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,374</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,389</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">466,545</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
    Ash</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">181</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,956</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
    S. Jonas</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    &#8220;Value Realized on Exercise&#8221; and the &#8220;Value Realized on Vesting&#8221; represent the total number of shares of
    Class B Common Stock acquired upon exercise or vesting (without regard to the amount of shares withheld to cover taxes, if applicable)
    and is based on the closing price of the Class B Common Stock on the exercise or vesting date, as applicable.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<!-- Field: Page; Sequence: 36; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CEO
Pay Ratio</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with SEC rules, we are providing the ratio of the annual total compensation of our Chief Executive Officer to the annual total
compensation of our median employee. The Fiscal 2025 annual total compensation of our Chief Executive Officer, Shmuel Jonas, is $1,479,253;
the Fiscal 2025 annual total compensation of our median compensated employee is $32,225, and the ratio of these amounts is 45.9 to 1.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company identified the median compensated employee by examining the Fiscal 2025 total cash compensation and the approved value of the
annual equity awards granted during Fiscal 2025 for all individuals, excluding its Chief Executive Officer, who were employed by the
Company on July 31, 2025, the last day of its fiscal payroll year. The Company included all employees, whether employed on a full-time,
part-time, or seasonal basis. The Company did not make any assumptions, adjustments, or estimates with respect to total cash compensation,
and it did not annualize the compensation for any full-time employees that were not employed by the Company for all of Fiscal 2025. For
employees paid in currencies other than U.S. Dollars, compensation was converted to U.S. Dollars using the average of the applicable
monthly exchange rate from August 1, 2024 to July 31, 2025. Because the SEC rules for identifying the median compensated employee and
calculating the pay ratio based on that employee&#8217;s annual total compensation allow companies to adopt a variety of methodologies,
to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their compensation practices, the pay ratio
reported by other companies may not be comparable to the pay ratio reported above, as other companies may have different employment and
compensation practices and may utilize different methodologies, exclusions, estimates, and assumptions in calculating their own pay ratios</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
identifying the median compensated employee, we calculated annual total compensation for such employee using the same methodology we
use for our Named Executive Officers as set forth in the Summary Compensation Table, above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
illustrated in the table below, the Fiscal 2025 pay ratio for the annual total compensation of our Chief Executive Officer to the annual
total compensation of our median employee is 45.9 to 1.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td colspan="6" style="text-align: center">Fiscal 2025 Annual Compensation</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Pay Ratio</td><td style="padding-bottom: 1pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">CEO</td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Median Compensated <br/> Employee</td><td style="padding-bottom: 1pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: left">Base Salary (including bonus)</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,179,250</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">32,225</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Stock Awards</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">300,003</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">All Other Compensation</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">TOTAL</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,479,253</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">32,225</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">CEO Pay to Median Compensated Employee Pay Ratio</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">45.9</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<!-- Field: Page; Sequence: 37; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>POTENTIAL
PAYMENTS UPON TERMINATION OR CHANGE-IN-CONTROL</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bill
Pereira</i>: Under the terms of the Pereira Agreement, in the event of Mr. Pereira&#8217;s death or disability, the Company shall pay
Mr. Pereira or his estate a death/disability benefit equal to $800,000, one-half to be paid within ten (10) days of termination, and
one-half to be paid monthly in equal installments over the six-month period following the date of the initial payment. If Mr. Pereira
is terminated without &#8220;cause,&#8221; or if he voluntarily terminates his employment with &#8220;good reason,&#8221; each as defined
in the Pereira Agreement, (i) he is entitled to a payment equal to $800,000; one-half paid upon ten days after the effective date of
a release agreement and one-half paid monthly over the following six-month period and (ii) all awards granted under the Company&#8217;s
incentive plan shall vest (and the restrictions thereon lapse). A &#8220;change in control&#8221; is deemed to be &#8220;good reason&#8221;
under the Second Pereira Agreement. Mr. Pereira has agreed not to compete with the Company for a period of one year following the termination
of his agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Marcelo
Fischer</i>: On November 13, 2008, Mr. Fischer and the Company entered into a Confidential Release and Retention Agreement (the &#8220;Fischer
Agreement&#8221;), pursuant to which the Company shall pay Mr. Fischer (or his estate) a severance payment of $550,000 in the event he
is terminated without &#8220;cause,&#8221; as defined in the Fischer Agreement, or in the event of Mr. Fischer&#8217;s death or disability.
Mr. Fischer has agreed not to compete with the Company for a period of one year following the termination of his employment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Howard
S. Jonas</i>: Under the terms of the Fifth Revised Jonas Agreement, in the event of Howard S. Jonas&#8217; death or disability, or in
the event the Company terminates Howard S. Jonas&#8217; employment without &#8220;cause&#8221; or Howard S. Jonas voluntarily terminates
his employment with &#8220;good reason,&#8221; which includes a &#8220;change in control,&#8221; any unvested restricted shares of Class
B Common Stock or other equity award granted in connection with Howard S. Jonas&#8217; service to the Company shall vest. In the event
of Howard S. Jonas&#8217; death or disability, or in the event the Company terminates Howard S. Jonas&#8217; employment without &#8220;cause&#8221;
or Howard S. Jonas voluntarily terminates his employment with &#8220;good reason,&#8221; which includes a &#8220;change in control,&#8221;
the Company shall pay Howard S. Jonas&#8217; estate a lump sum payment equal to twelve (12) months of Howard S. Jonas&#8217; annual base
salary (at the rate in effect on the date of his death). Howard S. Jonas has agreed not to compete with the Company for a period of one
year following the termination of his agreement (other than termination of his employment for &#8220;good reason&#8221; or by the Company
other than for &#8220;cause&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>All
Named Executive Officers</i>: All severance payments are contingent on Named Executive Officers executing the Company&#8217;s standard
release agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Named Executive Officers are subject to the Company&#8217;s Severance Pay and Plan Document (the &#8220;Severance Plan&#8221;), which
was amended and restated on February 19, 2019. Under the Severance Plan, U.S. employees who are terminated without cause are entitled
in specific instances, as set forth in the Severance Plan, to severance payments as follows: employees shall receive four weeks of severance
pay for each completed year of service up to August 1, 2009 and two weeks for each completed period of service on or after August 1,
2009. Such severance payments are equal to 100% of the employee&#8217;s base salary for weeks one through twenty, 80% of the employee&#8217;s
base salary for weeks twenty-one through twenty-six, and 60% of the employee&#8217;s base salary for weeks twenty-seven through forty.
Severance payments are capped at forty weeks. If a Named Executive Officer is entitled to a greater severance payment pursuant to an
agreement, the greater severance payment shall control.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth quantitative information with respect to potential payments to be made to each of the Named Executive Officers
upon termination in various circumstances and/or a change in control of the Company (each an &#8220;Event&#8221;). The following table
assumes the Event took place on July 31, 2025 for each of the Named Executive Officers and uses the closing price of Class B Common Stock
on July 31, 2025, the last trading day in Fiscal 2025 ($58.91). The potential payments are based on agreements entered into by Named
Executive Officers with the Company, discussed above, the 2015 Plan, the 2024 Plan and the Severance Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 38; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">Name</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Event of<br/> Death or<br/> Disability<br/> ($) &#160;<sup>&#160;</sup></span></td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change In<br/> Control<br/> ($) &#160;<sup>&#160;</sup></span></td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Termination<br/> For Cause<br/> ($)</td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voluntary Termination<br/> for Good<br/> Reason<br/> ($) &#160;<sup>&#160;</sup></span></td><td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Termination<br/> Without<br/> Cause<br/> ($) &#160;<sup>&#160;</sup></span></td><td style="padding-bottom: 1pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Shmuel Jonas</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 10pt">Restricted Shares/DSUs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 30%; padding-left: 10pt">Severance</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">304,615</td><td style="width: 1%; text-align: left">&#160;<sup>(1)</sup></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Bill Pereira</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt">Restricted Shares/DSUs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt">Severance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">800,000</td><td style="text-align: left">&#160;<sup>(2)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">800,000</td><td style="text-align: left">&#160;<sup>(2)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">800,000</td><td style="text-align: left">&#160;<sup>(2)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">800,000</td><td style="text-align: left">&#160;<sup>(2)</sup></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Marcelo Fischer</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 10pt">Restricted Shares/DSUs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">920,410</td><td style="text-align: left">&#160;<sup>(3)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt">Severance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">550,000</td><td style="text-align: left">&#160;<sup>(4)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">550,000</td><td style="text-align: left">&#160;<sup>(4)</sup></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">David Wartell</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt">Restricted Shares/DSUs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt">Severance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">92,308</td><td style="text-align: left">&#160;<sup>(1)</sup></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Menachem Ash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 10pt">Restricted Shares/DSUs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt">Severance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">255,385</td><td style="text-align: left">&#160;<sup>(1)</sup></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Howard S. Jonas</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt">Restricted Shares/DSUs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt">Severance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;<sup>(5)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;<sup>(5)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;<sup>(5)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;<sup>(5)</sup></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payable
    pursuant to the Severance Plan.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payable
    pursuant to the Pereira Agreement.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the accelerated vesting of 18,094 DSUs. Market value is computed by multiplying the closing market price of the Class B Common Stock
    on July 31, 2025, the last day that the stock was traded in Fiscal 2025 ($58.91), by the number of DSUs that had not vested as of
    July 31, 2025. Such computation does not take into consideration the impact of certain vesting conditions. Please see Note 20 &#8211;
    Stock-Based Compensation to our Consolidated Financial Statements included in the Form 10-K.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payable
    pursuant to the Fischer Agreement.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payable
    pursuant to the Fifth Revised Jonas Agreement. Howard S. Jonas&#8217; annual base salary was $250,000 as of July 31, 2025.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Policies
and Practices Related to the Timing of Grants of Certain Equity Awards</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p id="xdx_98D_eecd--AwardTmgMnpiDiscTextBlock_c20240801__20250731_gBFATMDTB-RHGTR_zEPltVwKMoii" class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><ix:nonNumeric contextRef="From2024-08-01to2025-07-31" continuedAt="ConU000015-01" escape="true" id="Fact000015" name="ecd:AwardTmgMnpiDiscTextBlock"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is the Compensation Committee&#8217;s practice to consider and approve ordinary course annual equity grants for the Company&#8217;s executive
officers at its&#160;regularly scheduled meeting held in September of each year. At this meeting, the Compensation Committee approves
the portion of each named executive officer&#8217;s annual equity award that will be granted in the form of stock options, if any.</span></ix:nonNumeric></p>

<div id="xdx_C04_gBFATMDTB-RHGTR_zC09i3ue4T9"><ix:continuation continuedAt="ConU000015-02" id="ConU000015-01"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#160;does <span id="xdx_908_eecd--AwardTmgMnpiCnsdrdFlag_dbF_c20240801__20250731_zl1uqKW7CeKb" class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__"><ix:nonNumeric contextRef="From2024-08-01to2025-07-31" format="ixt:booleanfalse" id="Fact000016" name="ecd:AwardTmgMnpiCnsdrdFlag">no</ix:nonNumeric></span>t&#160;schedule its equity grants in anticipation of the release of material, non-public information (&#8220;MNPI&#8221;),&#160;nor
does the Company time the release of&#160;MNPI&#160;based on equity grant dates. In the event&#160;MNPI&#160;becomes known to the Compensation
Committee prior to granting an equity award, the Compensation Committee will take the existence of such information into consideration
and use its collective business judgment to determine whether to delay the grant of equity to avoid any impropriety.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
fiscal 2025, no named executive officer received a stock option grant during the period beginning four business days before, and ending
one business day after, the filing of a periodic report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on
Form 8-K that discloses&#160;MNPI.</span></p>

</ix:continuation></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_C04_gBFATMDTB-RHGTR_zWQ98K5mUhqc"><ix:continuation id="ConU000015-02"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></ix:continuation></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Pay
vs. Performance </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table presents compensation information for Shmuel Jonas, the Company&#8217;s Chief Executive Officer, and the average compensation
information for the other individuals named in the summary compensation table, as well as certain measures relating to Company performance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 39; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2024-08-01to2025-07-31" escape="true" id="Fact000018" name="ecd:PvpTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_88F_eecd--PvpTableTextBlock_zv4bf1BMvmYj" summary="xdx: Disclosure - Pay vs Performance Disclosure" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal Year<sup>(1)</sup></b></span></td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_48C_eecd--PeoTotalCompAmt_z8IYH0bEXJgh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary<br/> Compensation<br/> Table Total<br/> for PEO<sup>(2)</sup><br/> ($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_480_eecd--PeoActuallyPaidCompAmt_zYMZTPdMgRAb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation<br/> Actually Paid<br/> to PEO<br/> ($) &#160;<sup>&#160;</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_481_eecd--NonPeoNeoAvgTotalCompAmt_zuvuUxe6O4y5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average<br/> Summary<br/> Compensation<br/> Table Total<br/> for Non-PEO<br/> NEOs<sup>(3)</sup><br/> ($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_482_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zCUizaPrjoA7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average<br/> Compensation<br/> Actually Paid<br/> to Non-PEO<br/> NEOs<br/> ($) &#160;<sup>&#160;</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_48D_eecd--TotalShareholderRtnAmt_pp2d_z8ACViwmpV3a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value of<br/> Initial Fixed<br/> $100 Investment<br/> Based On Total<br/> Shareholder<br/> Return<sup>(4)</sup><br/> ($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_481_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_zRwcob3OHtT7" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value of<br/> Initial Fixed<br/> $100 Investment<br/> Based On Peer</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Group&#8217;s Total<br/> Shareholder<br/> Return<sup>(5)</sup><br/> ($)</b></span></p></td><td style="padding-bottom: 1pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_48B_eus-gaap--NetIncomeLoss_zjWNXFYxdRM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Income<br/> ($)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
  <tr id="xdx_414_20240801__20250731_zyhIMuApaWk4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 10%">Fiscal 2025</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="ecd:PeoTotalCompAmt" contextRef="From2024-08-01to2025-07-31" id="Fact000019" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,479,253</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="ecd:PeoActuallyPaidCompAmt" contextRef="From2024-08-01to2025-07-31" id="Fact000020" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,479,253</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgTotalCompAmt" contextRef="From2024-08-01to2025-07-31" id="Fact000021" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,382,896</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgCompActuallyPaidAmt" contextRef="From2024-08-01to2025-07-31" id="Fact000022" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,919,113</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;<sup>(6)</sup></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="ecd:TotalShareholderRtnAmt" contextRef="From2024-08-01to2025-07-31" id="Fact000023" format="ixt:numdotdecimal" decimals="2" unitRef="USD">911.46</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="ecd:PeerGroupTotalShareholderRtnAmt" contextRef="From2024-08-01to2025-07-31" id="Fact000024" format="ixt:numdotdecimal" decimals="2" unitRef="USD">211.03</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2024-08-01to2025-07-31" id="Fact000025" format="ixt:numdotdecimal" decimals="0" unitRef="USD">81,139,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_410_20230801__20240731_zR5QIj0xM5pd" style="vertical-align: bottom; background-color: White">
    <td>Fiscal 2024</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoTotalCompAmt" contextRef="From2023-08-012024-07-31" id="Fact000026" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,090,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoActuallyPaidCompAmt" contextRef="From2023-08-012024-07-31" id="Fact000027" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,090,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgTotalCompAmt" contextRef="From2023-08-012024-07-31" id="Fact000028" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,243,526</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgCompActuallyPaidAmt" contextRef="From2023-08-012024-07-31" id="Fact000029" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,552,575</ix:nonFraction></td><td style="text-align: left">&#160;<sup>(7)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:TotalShareholderRtnAmt" contextRef="From2023-08-012024-07-31" id="Fact000030" format="ixt:numdotdecimal" decimals="2" unitRef="USD">588.83</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeerGroupTotalShareholderRtnAmt" contextRef="From2023-08-012024-07-31" id="Fact000031" format="ixt:numdotdecimal" decimals="2" unitRef="USD">160.76</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2023-08-012024-07-31" id="Fact000032" format="ixt:numdotdecimal" decimals="0" unitRef="USD">68,264,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_411_20220801__20230731_zBOcfoPhFYM9" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Fiscal 2023</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoTotalCompAmt" contextRef="From2022-08-012023-07-31" id="Fact000033" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,075,425</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoActuallyPaidCompAmt" contextRef="From2022-08-012023-07-31" id="Fact000034" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,075,425</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgTotalCompAmt" contextRef="From2022-08-012023-07-31" id="Fact000035" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,095,435</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgCompActuallyPaidAmt" contextRef="From2022-08-012023-07-31" id="Fact000036" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,083,516</ix:nonFraction></td><td style="text-align: left">&#160;<sup>(8)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:TotalShareholderRtnAmt" contextRef="From2022-08-012023-07-31" id="Fact000037" format="ixt:numdotdecimal" decimals="2" unitRef="USD">364.36</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeerGroupTotalShareholderRtnAmt" contextRef="From2022-08-012023-07-31" id="Fact000038" format="ixt:numdotdecimal" decimals="2" unitRef="USD">123.63</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-08-012023-07-31" id="Fact000039" format="ixt:numdotdecimal" decimals="0" unitRef="USD">44,366,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_419_20210801__20220731_zcOy0mOhSR2i" style="vertical-align: bottom; background-color: White">
    <td>Fiscal 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoTotalCompAmt" contextRef="From2021-08-012022-07-31" id="Fact000040" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,027,500</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoActuallyPaidCompAmt" contextRef="From2021-08-012022-07-31" id="Fact000041" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,080,870</ix:nonFraction></td><td style="text-align: left">&#160;<sup>(9)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgTotalCompAmt" contextRef="From2021-08-012022-07-31" id="Fact000042" format="ixt:numdotdecimal" decimals="0" unitRef="USD">584,101</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgCompActuallyPaidAmt" contextRef="From2021-08-012022-07-31" id="Fact000043" format="ixt:numdotdecimal" decimals="0" unitRef="USD">597,684</ix:nonFraction></td><td style="text-align: left">&#160;<sup>(10)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:TotalShareholderRtnAmt" contextRef="From2021-08-012022-07-31" id="Fact000044" format="ixt:numdotdecimal" decimals="2" unitRef="USD">399.85</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeerGroupTotalShareholderRtnAmt" contextRef="From2021-08-012022-07-31" id="Fact000045" format="ixt:numdotdecimal" decimals="2" unitRef="USD">102.23</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-08-012022-07-31" id="Fact000046" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,005,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_41F_20200801__20210731_zhdCfZbZrByk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Fiscal 2021</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoTotalCompAmt" contextRef="From2020-08-012021-07-31" id="Fact000047" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,144,500</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeoActuallyPaidCompAmt" contextRef="From2020-08-012021-07-31" id="Fact000048" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,144,500</ix:nonFraction></td><td style="text-align: left">&#160;<sup>(11)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgTotalCompAmt" contextRef="From2020-08-012021-07-31" id="Fact000049" format="ixt:numdotdecimal" decimals="0" unitRef="USD">671,833</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:NonPeoNeoAvgCompActuallyPaidAmt" contextRef="From2020-08-012021-07-31" id="Fact000050" format="ixt:numdotdecimal" decimals="0" unitRef="USD">671,833</ix:nonFraction></td><td style="text-align: left">&#160;<sup>(12)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:TotalShareholderRtnAmt" contextRef="From2020-08-012021-07-31" id="Fact000051" format="ixt:numdotdecimal" decimals="2" unitRef="USD">764.87</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ecd:PeerGroupTotalShareholderRtnAmt" contextRef="From2020-08-012021-07-31" id="Fact000052" format="ixt:numdotdecimal" decimals="2" unitRef="USD">143.91</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2020-08-012021-07-31" id="Fact000053" format="ixt:numdotdecimal" decimals="0" unitRef="USD">96,891,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  </table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information
    provided for the last five fiscal years.</span></td></tr>
  </table>
<ix:nonNumeric contextRef="From2024-08-01to2025-07-31" escape="true" id="Fact000055" name="ecd:NamedExecutiveOfficersFnTextBlock"><p id="xdx_894_eecd--NamedExecutiveOfficersFnTextBlock_dU_zQ5hPSqByY7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eecd--PeoName_c20240801__20250731_zXzZcMM7MiA7"><span id="xdx_90F_eecd--PeoName_c20230801__20240731_zbqRYrr2cp52"><span id="xdx_90C_eecd--PeoName_c20220801__20230731_zCEEnBHLXZQc"><span id="xdx_90B_eecd--PeoName_c20210801__20220731_zY0aKI5jIXu8"><span id="xdx_903_eecd--PeoName_c20200801__20210731_zC0Hjf6bmBkl"><ix:nonNumeric contextRef="From2024-08-01to2025-07-31" id="Fact000056" name="ecd:PeoName"><ix:nonNumeric contextRef="From2023-08-012024-07-31" id="Fact000057" name="ecd:PeoName"><ix:nonNumeric contextRef="From2022-08-012023-07-31" id="Fact000058" name="ecd:PeoName"><ix:nonNumeric contextRef="From2021-08-012022-07-31" id="Fact000059" name="ecd:PeoName"><ix:nonNumeric contextRef="From2020-08-012021-07-31" id="Fact000060" name="ecd:PeoName">Shmuel
    Jonas</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></span></span></span></span></span>, Chief Executive Officer, is the Principal Executive Officer (&#8220;PEO&#8221;).</span></td></tr>
  </table>
</ix:nonNumeric><p id="xdx_8AA_zJ2wEV6e0q6e" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
    S. Jonas, Chairman, Bill Pereira, President and Chief Operating Officer, Marcelo Fischer, Chief Financial Officer, David Wartell,
    Chief Technology Officer, and Menachem Ash, Executive Vice President &#8211; Strategy and Legal Affairs, for Fiscal 2025, Fiscal
    2024, Fiscal 2023 and Fiscal 2022. Howard S. Jonas, Chairman, Bill Pereira, President and Chief Operating Officer, and Marcelo Fischer,
    Chief Financial Officer, for Fiscal 2021.</span></td></tr>
  </table>

<ix:nonNumeric contextRef="From2024-08-01to2025-07-31" escape="true" id="Fact000062" name="ecd:EquityValuationAssumptionDifferenceFnTextBlock"><p id="xdx_89B_eecd--EquityValuationAssumptionDifferenceFnTextBlock_dU_zKuXh6M9Np2l" style="display: none; margin-top: 0; margin-bottom: 0">&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calculated
    based on a hypothetical $100 investment beginning at market close on July 31, 2020.</span></td></tr>
  </table>
</ix:nonNumeric><p id="xdx_8A0_zyEYso6l5qR" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2024-08-01to2025-07-31" escape="true" id="Fact000064" name="ecd:Additional402vDisclosureTextBlock"><p id="xdx_893_eecd--Additional402vDisclosureTextBlock_dU_zsSIb2PwWeph" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calculated
    based on a hypothetical $100 investment beginning at market close on July 31, 2020 in the S&amp;P 500 Communication Services.</span></td></tr>
</table>

</ix:nonNumeric><p id="xdx_8AB_zmHiBF4y2cti" style="margin: 0">&#160;</p>

<ix:nonNumeric contextRef="From2024-08-01to2025-07-31" escape="true" id="Fact000066" name="ecd:AdjToNonPeoNeoCompFnTextBlock"><p id="xdx_899_eecd--AdjToNonPeoNeoCompFnTextBlock_dU_zmoqTHH665P4" style="margin: 0; display: none">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2025, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_904_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_ziZlCF4ZDoK1"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember" id="Fact000067" format="ixt:numdotdecimal" decimals="0" unitRef="USD">536,217</ix:nonFraction></span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90E_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_zX51DkGm98Ra"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" id="Fact000068" format="ixt:numdotdecimal" decimals="0" unitRef="USD">184,082</ix:nonFraction></span> ($<span id="xdx_90E_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zCMExcRkz2xa"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" id="Fact000069" format="ixt:numdotdecimal" decimals="0" unitRef="USD">920,410</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and deferred stock units awarded during Fiscal 2025 to the Non-PEO NEOs that did not vest during Fiscal 2025 based
    upon the closing price of our Class B Common Stock on July 31, 2025 (the last trading day of Fiscal 2025) of $<span id="xdx_900_ecustom--CommonStockClosingPrice_iI_pid_c20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zBKhMieSuKdh" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember" id="Fact000071" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">58.91</ix:nonFraction></span>; see Outstanding
    Equity Awards at Fiscal Year-End, above;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_900_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_zPfdIpLLGceg"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" id="Fact000072" format="ixt:numdotdecimal" decimals="0" unitRef="USD">368,634</ix:nonFraction></span> ($<span id="xdx_908_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsAwardedInCurrentYearMember_z6qUfOvZuf4l"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember" id="Fact000073" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,843,172</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2025 to the Non-PEO NEOs that vested during Fiscal 2025 based upon the closing
    price of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested,
    above; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_908_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_zv6OyBAaOw68"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" id="Fact000074" format="ixt:numdotdecimal" decimals="0" unitRef="USD">488,494</ix:nonFraction></span> ($<span id="xdx_90F_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zkIEkuaJCdt"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember" id="Fact000075" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,442,469</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs that vested during Fiscal 2025 (based on the closing price of our Class B Common Stock on such vesting
    date) as compared to the fair market value of such restricted shares of Class B Common Stock and DSUs that were outstanding and unvested
    on July 31, 2024 (the last trading day of Fiscal 2024, which had a closing price of our Class B Common Stock on such date of $<span id="xdx_90B_ecustom--CommonStockClosingPrice_iI_pid_c20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zcaPkFMs5vhg" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember" id="Fact000077" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">38.23</ix:nonFraction></span>);
    and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_90A_eecd--AdjToCompAmt_di_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_zTqsMi58EsJ5"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" id="Fact000078" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">504,993</ix:nonFraction></span> ($<span id="xdx_909_eecd--AdjToCompAmt_di_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zURxgPVFzui7"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember" id="Fact000079" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,524,965</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2025 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 40; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 96%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2024, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_906_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zAFp1xBh2SC6"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember" id="Fact000080" format="ixt:numdotdecimal" decimals="0" unitRef="USD">309,049</ix:nonFraction></span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90D_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_zYjrVVatjZa2"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" id="Fact000081" format="ixt:numdotdecimal" decimals="0" unitRef="USD">179,681</ix:nonFraction></span> ($<span id="xdx_90F_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zCOCYoI7sZxj"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" id="Fact000082" format="ixt:numdotdecimal" decimals="0" unitRef="USD">898,405</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and deferred stock units awarded during Fiscal 2024 to the Non-PEO NEOs that did not vest during Fiscal 2024 based
    upon the closing price of our Class B Common Stock on July 31, 2024 (the last trading day of Fiscal 2024) of $<span id="xdx_90B_ecustom--CommonStockClosingPrice_iI_pid_c20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zz5U1odTnGlb" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember" id="Fact000084" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">38.23</ix:nonFraction></span>; see Outstanding
    Equity Awards at Fiscal Year-End, above;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_902_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_zqmMyPbV4Yxf"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" id="Fact000085" format="ixt:numdotdecimal" decimals="0" unitRef="USD">297,500</ix:nonFraction></span> ($<span id="xdx_909_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsAwardedInCurrentYearMember_zhFybKOnAGOb"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember" id="Fact000086" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,487,498</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2024 to the Non-PEO NEOs that vested during Fiscal 2024 based upon the closing
    price of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested,
    above; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90D_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_ze7TnIxbZG5f"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" id="Fact000087" format="ixt:numdotdecimal" decimals="0" unitRef="USD">285,220</ix:nonFraction></span> ($<span id="xdx_90B_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsUnvestedInCurrentYearMember_zEL9AO1pta02"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" id="Fact000088" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,426,101</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs outstanding and unvested on July 31, 2024 (the last trading day of Fiscal 2024, which had a closing
    price of our Class B Common Stock on such date of $<span id="xdx_902_ecustom--CommonStockClosingPrice_iI_pid_c20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zobknEhQDFLd" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember" id="Fact000090" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">38.23</ix:nonFraction></span>) as compared to the fair market value of such restricted shares of Class
    B Common Stock and DSUs that were outstanding and unvested on July 31, 2023 (the last trading day of Fiscal 2023, which had a closing
    price of our Class B Common Stock on such date of $<span id="xdx_901_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zSMAsIzZY0bl" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember" id="Fact000092" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">23.63</ix:nonFraction></span>); </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_900_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_z7zJtgN2y85l"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" id="Fact000093" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,434</ix:nonFraction></span> ($<span id="xdx_90F_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zRMprkFND5ae"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember" id="Fact000094" format="ixt:numdotdecimal" decimals="0" unitRef="USD">27,172</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and DSUs that vested during Fiscal 2024 (based on the closing price of our Class B Common Stock on such vesting date)
    as compared to the fair market value of such restricted shares of Class B Common Stock and DSUs that were outstanding and unvested
    on July 31, 2023 (the last trading day of Fiscal 2023, which had a closing price of our Class B Common Stock on such date of $<span id="xdx_90A_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_z6I0Q3yYGxM4" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember" id="Fact000096" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">23.63</ix:nonFraction></span>);
    and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_909_eecd--AdjToCompAmt_di_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_z7P7QPFdAOLh"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" id="Fact000097" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">458,786</ix:nonFraction></span> ($<span id="xdx_907_eecd--AdjToCompAmt_di_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zUzkLlPNAvWj"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember" id="Fact000098" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,293,930</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2024 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 6px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2023, the average compensation actually paid to non-PEO NEOs was lower than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_znqK8nbAqjyj"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember" id="Fact000099" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,919</ix:nonFraction></span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90B_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_z6k6oX87bBM9"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" id="Fact000100" format="ixt:numdotdecimal" decimals="0" unitRef="USD">466,487</ix:nonFraction></span> ($<span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zolrD3bWll4j"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" id="Fact000101" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,332,436</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEO NEOs that did not vest during Fiscal 2023 based upon the
    closing price of our Class B Common Stock on July 31, 2023 (the last trading day of Fiscal 2023) of $<span id="xdx_90C_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zBRXWGom7iA6" title="Common stock closing price"><ix:nonFraction name="IDT:CommonStockClosingPrice" contextRef="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember" id="Fact000103" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">23.63</ix:nonFraction></span>; see Outstanding Equity
    Awards at Fiscal Year-End, above;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_906_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_zCxtCH5T7eb"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" id="Fact000104" format="ixt:numdotdecimal" decimals="0" unitRef="USD">46,314</ix:nonFraction></span> ($<span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zVsCZ5XjVLdi"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember" id="Fact000105" format="ixt:numdotdecimal" decimals="0" unitRef="USD">231,570</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEO NEOs that vested during Fiscal 2023 based upon the closing price
    of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested, above.
    Excluded from this calculation are restricted shares of Class B Common Stock owned by Bill Pereira and Marcelo Fischer that were
    awarded in Fiscal 2023 for services provided in Fiscal 2022, see footnote 8 below; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_909_eecd--AdjToCompAmt_di_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_zSoyDP7RbLj5"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" id="Fact000106" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">524,720</ix:nonFraction></span> ($<span id="xdx_907_eecd--AdjToCompAmt_di_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zzUHNd6spah2"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember" id="Fact000107" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,623,200</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2022, the compensation actually paid to Shmuel Jonas (PEO) was greater than the total amount disclosed in the Summary Compensation
    Table in the amount of $<span id="xdx_908_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zqr0evyYznOd"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_ecd_PeoMember" id="Fact000108" format="ixt:numdotdecimal" decimals="0" unitRef="USD">53,370</ix:nonFraction></span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the amount of $<span id="xdx_904_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_zHuMjSislkLa"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_ecd_PeoMember_custom_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" id="Fact000109" format="ixt:numdotdecimal" decimals="0" unitRef="USD">319,620</ix:nonFraction></span> related to the fair market value of restricted shares of Class B Common Stock awarded during Fiscal
    2025 for services provided by Shmuel Jonas in Fiscal 2022 that vested upon grant based upon the closing price of our Class B Common
    Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested, above; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the amount of $<span id="xdx_901_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_zmdWhzmWye0g"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_ecd_PeoMember_custom_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" id="Fact000110" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">266,250</ix:nonFraction></span> related to the fair market value of restricted shares of Class B Common Stock awarded during Fiscal
    2025 for services provided by Shmuel Jonas in Fiscal 2022 based upon the price of the Class B Common Stock at the applicable grant
    date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<ix:exclude><!-- Field: Page; Sequence: 41; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2022, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_90A_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zqKk3Bi1cMSj"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_ecd_NonPeoNeoMember" id="Fact000111" format="ixt:numdotdecimal" decimals="0" unitRef="USD">13,583</ix:nonFraction></span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90E_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_zwtI4BQNANai"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" id="Fact000112" format="ixt:numdotdecimal" decimals="0" unitRef="USD">83,334</ix:nonFraction></span> ($<span id="xdx_903_eecd--AdjToCompAmt_c20210801__20220731__ecd--AdjToCompAxis__custom--AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_zVSTHurpkY0f"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" id="Fact000113" format="ixt:numdotdecimal" decimals="0" unitRef="USD">416,670</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock awarded during Fiscal 2023 for services provided by two non-PEO NEOs (Bill Pereira and Marcelo Fischer) in Fiscal
    2022 that vested upon grant based upon the closing price of our Class B Common Stock on the applicable date of vesting; see Option
    Exercises and Stock and Deferred Stock Units Vested, above; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_908_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_zKJytENRdK1f"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" id="Fact000114" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">69,751</ix:nonFraction></span> ($<span id="xdx_90F_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--AdjToCompAxis__custom--AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_zhTDYCmQNEi9"><ix:nonFraction name="ecd:AdjToCompAmt" contextRef="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" id="Fact000115" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">348,753</ix:nonFraction></span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock awarded during Fiscal 2023 for services provided by two non-PEO NEOs (Bill Pereira and Marcelo Fischer) in Fiscal
    2022 based upon the price of the Class B Common Stock at the applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    value of a grant to Shmuel Jonas in Fiscal 2021 of <span id="xdx_90C_ecustom--NumberOfRestrictedSharesGranted_pid_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zAqKOZnMGtC" title="Number of restricted shares grant"><ix:nonFraction name="IDT:NumberOfRestrictedSharesGranted" contextRef="From2020-08-012021-07-31_ecd_PeoMember" id="Fact000117" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50</ix:nonFraction></span> restricted shares of Class B common stock of net2phone 2.0, Inc., a subsidiary
    of the Company (&#8220;net2phone 2.0&#8221;), which represents <span id="xdx_902_ecustom--OutstandingCommonStockPercentage_pid_dp_uRatio_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zamKbMbdJC91" title="Outstanding common stock percentage"><ix:nonFraction name="IDT:OutstandingCommonStockPercentage" contextRef="From2020-08-012021-07-31_ecd_PeoMember" id="Fact000119" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Ratio">5</ix:nonFraction></span>% of the outstanding common stock of net2phone 2.0, was valued at
    the time of grant and assumed to not have changed value by the end of Fiscal 2021 as such shares were illiquid and did not vest by
    the end of Fiscal 2021.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    value of a grant to Howard S. Jonas (a non-PEO NEO) in Fiscal 2021 of <span id="xdx_907_ecustom--NumberOfRestrictedSharesGranted_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z9cXmNOMpxO" title="Number of restricted shares grant"><ix:nonFraction name="IDT:NumberOfRestrictedSharesGranted" contextRef="From2020-08-012021-07-31_ecd_NonPeoNeoMember" id="Fact000121" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50</ix:nonFraction></span> restricted shares of Class B common stock of net2phone 2.0,
    which represents <span id="xdx_90F_ecustom--OutstandingCommonStockPercentage_pid_dp_uRatio_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zW110lkUlvU" title="Outstanding common stock percentage"><ix:nonFraction name="IDT:OutstandingCommonStockPercentage" contextRef="From2020-08-012021-07-31_ecd_NonPeoNeoMember" id="Fact000123" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Ratio">5</ix:nonFraction></span>% of the outstanding common stock of net2phone 2.0, was valued at the time of grant and assumed not to have changed
    value by the end of Fiscal 2021 as such shares were illiquid and did not vest by the end of Fiscal 2021.</span></td></tr>
  </table>
</ix:nonNumeric><p id="xdx_8A4_zXXvh2If9KN9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
cash components of our executive compensation are based on a number of factors, including, in the case of bonus compensation, goals for
the Company and for individual executive officers that are set early in the fiscal year by the Compensation Committee of our Board of
Directors. Those goals typically include specific financial metrics as well as other qualitative and quantitative factors related to
operational and other matters. Following the end of each fiscal year, management reports to the Compensation Committee regarding actual
performance relative to the goals, the contribution of each executive officer related to the goals set for the Company and the relevant
executive and other factors regarding the performance of the executive officers, and makes recommendations regarding various elements
of compensation. The Compensation Committee then determines the compensation to be awarded.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
officers are also granted, from time to time, equity awards in securities of the Company or its subsidiaries to directly align their
interests with those of our stockholders. Equity awards may include grants of restricted shares of stock, options to purchase shares
of stock and deferred stock units which may have performance-based vesting criteria in addition to time-based vesting criteria.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
the specific factors that drive compensation decisions may not directly correlate with our net income or Total Shareholder Return, many
of the criteria used tend to impact compensation as well as Total Shareholder Return and that contributes to the correlation shown in
the table above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EQUITY
COMPENSATION PLAN INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employee
Stock Incentive Program</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company adopted the 2015 Plan and the 2024 Plan, pursuant to which options to purchase shares of Class B Common Stock, restricted shares
of Class B Common Stock and deferred stock units may be awarded. The Company anticipates awarding options to purchase shares of Class
B Common Stock, restricted shares of Class B Common Stock and deferred stock units to employees, officers, directors and consultants
under the 2024 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Compensation Plans and Individual Compensation Arrangements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following chart provides aggregate information regarding grants under all equity compensation plans of the Company as of July 31, 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold">Plan Category</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Securities to<br/> be Issued<br/> upon<br/> Exercise of<br/> Outstanding<br/> Options</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-<br/> Average<br/> Exercise<br/> Price of<br/> Outstanding<br/> Options</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Securities<br/> Remaining<br/> Available for<br/> Future<br/> Issuance<br/> under Equity<br/> Compensation<br/> Plans</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 49%; text-align: left">Equity compensation plans approved by security holders</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 13%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 13%; text-align: right">23,934</td><td style="width: 1%; text-align: left">&#160;<sup>(1)</sup></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Equity compensation plans not approved by security holders</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Total</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">23,934</td><td style="text-align: left">&#160;<sup>(1)</sup></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Does
    not include shares of Class B Common Stock issuable pursuant to 18,229 outstanding DSUs that will be deducted from the 2024 Plan
    when the underlying shares of Class B Common Stock are issued on the DSUs&#8217; vesting dates. The number of shares of Class B Common
    Stock to be issued on the DSUs&#8217; vesting date will vary depending upon the market price of the Class B Common Stock. Please
    see Note 20 &#8211; Stock-Based Compensation to our Consolidated Financial Statements included in the Form 10-K.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 42; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSALS
REQUIRING YOUR VOTE</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSAL
NO. 1</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ELECTION
OF DIRECTORS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Company&#8217;s Third Restated Certificate of Incorporation, the number of members of the Board of Directors is to be between
three and seventeen, with the actual number to be set, within that range, by the Board of Directors from time to time. The Board of Directors
has set the number of directors on the Board of Directors at six, including one <i>ex-officio </i>(non-voting) director who is to be
appointed by the voting members of the Board, and there are currently six directors on the Board of Directors, including one <i>ex-officio
</i>(non-voting) director. The current terms of all serving directors expire at the Annual Meeting. The Company&#8217;s Eighth Amended
and Restated By-Laws enable the Board of Directors to appoint one or more <i>ex-officio </i>(non-voting) directors to serve on the Board.
Bill Pereira was appointed <i>ex-officio</i> (non-voting) director on March 24, 2021 and has since served in that capacity. The stockholders
are not being asked to vote on Mr. Pereira&#8217;s appointment as an <i>ex-officio </i>(non-voting) director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
nominees for voting members of the Board of Directors are Eric F. Cosentino, Howard S. Jonas, Irwin Katsof, Judah Schorr and Elaine S.
Yatzkan, each of whom has consented to be named in this proxy statement and to serve if elected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of these director nominees is standing for election for a term of one year until the 2026 annual meeting of stockholders, or until his
or her successor is duly elected and qualified or until his or her earlier resignation or removal. A majority of the votes cast for or
against a director nominee at the Annual Meeting shall elect each voting director. Stockholders may not vote for more than five persons,
which is the number of nominees identified herein. The following pages contain biographical information and other information about the
director nominees. Following each nominee&#8217;s biographical information, we have provided information concerning particular experience,
qualifications, attributes and/or skills, including as to personal factors of nominees and the diverse perspectives that nominees may
bring to their service on the Board and that the Nominating Committee and the Board of Directors considered when determining that each
nominee should serve as a director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Eric
F. Cosentino</i></b> has been a director of the Company since February 2007. Rev. Cosentino was a director of Zedge, Inc., a former subsidiary
of the Company that was spun off to stockholders in June 2016, from September 2008 until May 2016. Rev. Cosentino was a member of the
National Association of Corporate Directors (NACD) from March 2009 to 2021. Rev. Cosentino earned an NACD Governance Fellowship in 2014,
when he completed NACD&#8217;s comprehensive program study for corporate directors. He supplements his skill sets through ongoing engagement
with the director community and access to leading practices. Rev. Cosentino served on the Board of Directors of a Company subsidiary,
IDT Entertainment, until it was sold to Liberty Media in 2006. Rev. Cosentino was the Rector of the Episcopal Church of the Divine Love
in Montrose, New York, from 1987 until his retirement in 2014. He began his ordained ministry in 1984 as curate (assistant) at St. Elizabeth&#8217;s
Episcopal Church in Ridgewood, Bergen County, New Jersey. He has also served on the Board of Directors of the Evangelical Fellowship
Anglican Communion of New York. Rev. Cosentino has published articles and book reviews for The Episcopal New Yorker, Care &amp; Community,
and Evangelical Journal. Rev. Cosentino received a B.A. from Queens College and a M.Div. from General Theological Seminary, New York</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Key
Attributes, Experience and Skills:</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rev.
Cosentino has strong leadership skills, having served as the Rector of the Episcopal Church of the Divine Love in Montrose, New York,
from 1987 until 2014. As Chairman of the Company&#8217;s Corporate Governance Committee, Rev. Cosentino has become well-versed in corporate
governance issues by attending seminars and joining the National Association of Corporate Directors in March 2009. Rev. Cosentino&#8217;s
long tenure as a director of the Company, as well as prior tenures with former Company subsidiaries&#8217; Zedge and IDT Entertainment,
brings extensive knowledge of our Company to the Board.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 43; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Howard
S. Jonas</i></b> founded IDT in August 1990, has served as Chairman of the Board of Directors since its inception and has served as its
Chairman since September 2022. Mr. Jonas served as a member of the Board of Directors from inception to December 2020, when he was appointed
as an <i>ex-officio</i> (non-voting) member of the Board of Directors. In March 2021, Mr. Jonas was reappointed as a voting member of
the Board of Directors. Mr. Jonas served as Chief Executive Officer of the Company from October 2009 through December 2013 and from December
1991 until July 2001. From January 2014 until November 2017, Mr. Jonas served as the Chief Executive Officer of Genie Energy Ltd., a
former subsidiary of IDT that was spun off to stockholders in October 2011, and has served as Chairman of the Board of Directors of Genie
Energy since the spin-off. From June 2016 to November 2016, Mr. Jonas served as the Chairman of the Board of Zedge, Inc., a former subsidiary
of IDT that was spun off to stockholders in June 2016. Mr. Jonas has served as the Vice Chairman of Zedge, Inc. since November 2016.
Mr. Jonas also has served as the Chairman of the Board of Rafael Holdings, Inc., a former subsidiary of IDT that was spun off to stockholders
in March 2018, since the spin-off, and also as the Chief Executive Officer until May 2021. Mr. Jonas also has served as the Chairman
of the Board of IDW Media Holdings, Inc., a former subsidiary of IDT, since it was spun off to stockholders in September 2009, and has
been its Chairman since June 2022 and was its Chief Executive Officer from February 2019 through April 2020. Mr. Jonas has been a director
of Rafael Pharmaceuticals, Inc. (f/k/a Cornerstone Pharmaceuticals) since April 2013 and was appointed Chairman of the Board in April
2016. Mr. Jonas received a B.A. in Economics from Harvard University.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Key
Attributes, Experience and Skills:</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
founder of the Company and Chairman of the Board since its inception, Howard S. Jonas brings tremendous knowledge of all aspects of our
Company and each industry in which it is involved to the Board. Howard S. Jonas&#8217; service as Chairman and Chairman of the Board
creates a critical link between management and the Board, enabling the Board to perform its oversight function with the benefits of management&#8217;s
perspectives on the businesses of the Company. In addition, having Howard S. Jonas on the Board provides our Company with effective leadership.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Irwin
Katsof</i></b> <span style="background-color: white">has been a director of the Company since December 2024. </span>He is the founder
and the President of Global Capital Associates, Inc. Irwin Katsof was the Co-Leader of the U.S. Commerce department 2008 Trade Mission
to the Republic of Georgia with Under Secretary of Trade John Sullivan, U.S. Trade Representative Larry Walther and Director of Overseas
Private Investment Corporation (OPIC) Robert Mosbacher Jr. In 2011, he was appointed, by U.S. Secretary of Commerce Gary Locke and Ambassador
Ron Kirk, the United States Trade Representative to serve on the U.S. Commerce Department Trade Advisory Board (ITAC 6) to advise the
United States government on International Trade Policy. In 2013, Mr. Katsof formed TradeMissions.Org, which has organized 85 international
trade missions in partnership with the U.S. Department of Commerce to countries including Brazil, Canada, Switzerland, Germany, Israel,
Singapore, India, the United Kingdom, Saudi Arabia, UAE, Bahrain and Hong Kong. From 2010 to 2020, Mr. Katsof was Executive Director
of America&#8217;s Voices In Israel, which arranged trips to Israel for political leaders, celebrities and athletes. Mr. Katsof served
as a director of IDW Media Holdings, Inc. (OTC: IDWM) from October 2010 through March 2023. Mr. Katsof received his B.A. in Psychology
and Organizational Development from Loyola College &#8212; Concordia University, Montreal, his Rabbinical Ordination from Yeshivat Aish
Hatorah, Jerusalem and his Masters in Transpersonal Psychology from Atlantic University. In 2024, Mr. Katsof published his fourth book,
a business memoir and self-help book entitled &#8220;Living Dangerously: How I tried to get Rich without losing my Soul.&#8221; Mr. Katsof
also completed his Series 39 and 7 exams.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Key
Attributes, Experience and Skills:</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Katsof&#8217;s breadth of experience brings important perspectives to the Company&#8217;s Board. He has important contacts in both the
private and public sector. His skills in interpersonal relationships and working with disparate groups is useful in enabling the Company&#8217;s
business units to work in a collaborative and mutually beneficial manner.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Judah
Schorr</i></b> has been a director of the Company since December 2006. Dr. Schorr founded Judah Schorr MD PC in 1994, an anesthesia provider
to hospitals, ambulatory surgery centers and medical offices, and has been its President and owner since its inception, as well as the
President of its subsidiary, Tutto Anesthesia. Dr. Schorr is an attending physician at Anesthesia Services at Bergen Regional Medical
Center, the largest hospital in the state of New Jersey, and the Managing Partner of Chavrusa Realty Corp., a commercial real-estate
company in Long Island, New York. Dr. Schorr received his B.S. in Psychology from Brooklyn College and his M.D. from the University of
Trieste Faculty of Medicine and Surgery in Italy.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 44; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Key
Attributes, Experience and Skills:</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
Dr. Schorr&#8217;s career as an entrepreneur driving the growth of Judah Schorr MD PC and Chavrusa Realty Corp., he has obtained valuable
business and management experience and brings important perspectives on the issues facing the Company. Dr. Schorr&#8217;s tenure as a
member of the Board and its Compensation, Corporate Governance and Audit Committees brings useful compliance insights to the Board.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Elaine
S. Yatzkan </i></b>has served as a director of the Company since December 2023. Ms. Yatzkan received her B.A. from Barnard College, and
her MSW and PhD degrees from the New York University School of Social Work. Elaine Yatzkan had a private practice of psychotherapy from
1973-2023 and served as the Director of Program Development for the Jewish Guild for the Blind from 1990-2010.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Key
Attributes, Experience and Skills:</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elaine
S. Yatzkan brings a different perspective to the Board than the current members due to her age and gender. She is active in promoting
women to leadership roles and is committed to that goal. The Company believes that obtaining input from more diverse perspectives enhances
the Board&#8217;s oversight of management and provides input on addressing different markets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors has no reason to believe that any of the persons named above will be unable or unwilling to serve as a director, if
elected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE
BOARD OF DIRECTORS RECOMMENDS A VOTE <i>FOR</i><br/>
THE ELECTION OF THE NOMINEES NAMED ABOVE.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Directors,
Director Nominees and Executive Officers</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
executive officers, directors, director nominees and Named Executive Officers of the Company are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Age</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Position</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shmuel
    Jonas</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer and Named Executive Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
    S. Jonas</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman,
    Chairman of the Board, Director, Director Nominee and Named Executive Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bill
    Pereira</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">President,
    Chief Operating Officer, <i>Ex-Officio</i> (Non-Voting) Director and Named Executive Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcelo
    Fischer</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer and Named Executive Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joyce
    J. Mason</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
    Vice President, General Counsel and Corporate Secretary</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Wartell</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Technology Officer and Named Executive Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menachem
    Ash</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
    Vice President of Strategy and Legal Affairs and Named Executive Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitch
    Silberman</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">57</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Accounting Officer and Controller</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nadine
    Shea</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
    Vice President of Global Human Resources</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric
    F. Cosentino</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Director Nominee</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Irwin
    Katsof</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Director Nominee</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judah
    Schorr</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">73</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Director Nominee</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elaine
    S. Yatzkan</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">92</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Director Nominee</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Set
forth below is biographical information with respect to the Company&#8217;s current executive officers and Named Executive Officers,
except Howard S. Jonas, whose information is set forth above in Proposal No. 1:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shmuel
Jonas</i></b> has served as Chief Executive Officer of the Company since January 2014. Mr. Jonas served as Chief Operating Officer of
the Company from June 2010 through December 2013. Mr. Jonas joined the Company in June 2008 and served as a Vice President until June
2009 when he was elected to serve as the Company&#8217;s Vice President of Operations. Since 2004, Mr. Jonas has been the managing member
of Arlington Suites, a thirty million dollar mixed-use ground-up development project in Bronx, New York. In addition, Mr. Jonas was a
director of Zedge, Inc., a former subsidiary of the Company that was spun off to stockholders in June 2016, from October 2010 until May
2016. From 2006 through 2008, Mr. Jonas was a partner in a 160-unit garden apartment complex in Memphis, Tennessee. Between 2004 and
2005, Mr. Jonas owned and operated various businesses in the food industry, including BID Distribution, a distributor and marketer of
frozen desserts to grocery stores and food service operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 45; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Bill
Pereira</i></b> served as a voting member of the Company&#8217;s Board of Directors from October 31, 2011 to March 2021, when he was
appointed as an <i>ex-officio</i> (non-voting) member of the Board of Directors. Mr. Pereira has also served as President and Chief Operating
Officer of the Company since January 1, 2018. Mr. Pereira served as the Chief Executive Officer and President of IDT Telecom from October
31, 2011 to December 31, 2017. Mr. Pereira served as Chief Financial Officer of the Company from January 2009 until October 2011, and
served as the Treasurer from January 2009 to December 2010. Previously, he served as Executive Vice President of Finance for the Company
from January 2008 to January 2009. Mr. Pereira initially joined the Company in December 2001 when the Company bought Horizon Global Trading,
a financial software firm where he was a managing partner. In February 2002, Mr. Pereira joined Winstar Communications, a subsidiary
of the Company, as a Senior Vice President of Finance. Mr. Pereira was promoted to CFO of Winstar Communications, a position he held
until 2006 when he was named a Senior Vice President of the Company responsible for financial reporting, budgeting and planning. Prior
to joining the Company, Mr. Pereira worked for a number of companies in the financial sector, including Prudential Financial, SBC Warburg
and UBS. Mr. Pereira received a B.S. from Rutgers University and an M.B.A. from the New York University Stern School of Business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Marcelo
Fischer</i></b> has served as the Company&#8217;s Chief Financial Officer since June 3, 2019 and as Chief Financial Officer of IDT Telecom
since June 2007. Mr. Fischer served as Senior Vice President&#8211;Finance (the Company&#8217;s principal financial officer position)
from October 31, 2011 to June 2019. Mr. Fischer also served as the Company&#8217;s Senior Vice President of Finance from March 2007 to
June 2007. Mr. Fischer served as the Company&#8217;s Chief Financial Officer and Treasurer from June 2006 to March 2007, as the Company&#8217;s
Controller from May 2001 until June 2006 and as Chief Accounting Officer from December 2001 until June 2006. Prior to joining the Company,
Mr. Fischer was the Corporate Controller of Viatel, Inc. from 1999 until 2001. From 1998 through 1999, Mr. Fischer was the Controller
of the Consumer International Division of Revlon, Inc. From 1991 through 1998, Mr. Fischer held various accounting and finance positions
at Colgate-Palmolive Corporation. Mr. Fischer, a Certified Public Accountant, received a B.A. from the University of Maryland and an
M.B.A. from the New York University Stern School of Business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Joyce
J. Mason</i></b> has served as an Executive Vice President of the Company since December 1998 and as General Counsel and Corporate Secretary
of the Company from its inception. Ms. Mason also served as a director of the Company from its inception until December 2006. In addition,
Ms. Mason was a director of Zedge, Inc., a former subsidiary of the Company that was spun off to stockholders in June 2016, from September
2008 until May 2016, and she also served as a director of IDT Telecom from December 1999 until May 2001 and as a director of Net2Phone
from October 2001 until October 2004. Ms. Mason has served as the Corporate Secretary of Rafael Holdings, Inc., a former subsidiary of
the Company that was spun off to stockholders in March 2018, from its inception in July 2017. Ms. Mason has also served as a director
of Genie Energy Ltd., a former subsidiary of the Company that was spun off to stockholders in October 2011, since May 2021. Ms. Mason
served as Corporate Secretary of IDW Media Holdings, Inc. from March 2023 until April 2025, and, prior to that, from September 2019 to
March 2023 as its Assistant Corporate Secretary. Prior to joining the Company, Ms. Mason had been in private legal practice. Ms. Mason
received a B.A. from the City University of New York and a J.D. from New York Law School.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Mitch
Silberman</i></b> has served as the Company&#8217;s Chief Accounting Officer and Controller since June 2006. Mr. Silberman joined the
Company in October 2002 as Director of Financial Reporting until his promotion to Assistant Controller in October 2003. Prior to joining
the Company, Mr. Silberman was a senior manager at KPMG LLP, where he served in the firm&#8217;s Biotechnology and Pharmaceutical practice.
Prior to KPMG, Mr. Silberman worked for Grant Thornton LLP, serving in the firm&#8217;s Telecommunications, Service and Technology practice.
Mr. Silberman, a Certified Public Accountant, received a Bachelor of Science in Accounting from Brooklyn College.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Menachem
Ash</i></b> has served as the Company&#8217;s Executive Vice President of Strategy and Legal Affairs since October 2012. Mr. Ash served
as the managing attorney of the Company&#8217;s legal department from June 2011 to October 2012. Mr. Ash has served as senior counsel
to several IDT divisions since he joined the Company in July 2004, including IDT Telecom and IDT Carmel. Mr. Ash served as President
of Rafael Holdings, Inc., a former subsidiary of the Company that was spun off to stockholders in March 2018, from its inception in July
2017 to September 2021. Prior to joining the Company, Mr. Ash served as General Counsel to Telstar International, Inc., a telecommunications
services provider. Mr. Ash also worked at KPMG as a senior associate in its tax group focusing on financial services and technology companies.
He is a graduate of Brooklyn College and the Benjamin N. Cardozo School of Law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 46; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Nadine
Shea </i></b>has served as the Company&#8217;s Executive Vice President of Global Human Resources since September 2019. Ms. Shea joined
the Company in May 2000 as Associate General Counsel and held various senior counsel roles at the Company. Prior to joining the Company,
Ms. Shea worked in private legal practice. Ms. Shea received a B.A. in Criminal Justice from the University of Maryland and a J.D. from
New York Law School.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>David
Wartell</i></b> has been the Chief Technology Officer of the Company since March 2018 and the Executive Vice President &#8211; Technology
of IDT Telecom since June 2017. Mr. Wartell brings 20 years of operational experience in enterprise and cloud technology to the Company.
Prior to joining the Company, he was Executive Vice President of Idera Inc., one of the largest private B2B software vendors in the world,
with products evangelized by millions of community members, and more than 50,000 customers. Previously, he was founder and CEO of R1soft.com,
a leading provider of cloud backup and disaster recovery software. Earlier in his career, he ran operations for some of the largest cloud
service providers in the world. Mr. Wartell received a B.S. in Computer Engineering from Michigan State University.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Relationships
among Directors, Director-Nominees and Executive Officers</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard
S. Jonas and Joyce J. Mason are brother and sister. Howard S. Jonas and Shmuel Jonas are father and son. Joyce J. Mason and Shmuel Jonas
are aunt and nephew. Howard S. Jonas and Elaine S. Yatzkan are son-in-law and mother-in-law. Shmuel Jonas and Elaine S. Yatzkan are grandson
and grandmother. There are no other familial relationships among any of the directors, director nominees or executive officers of the
Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 47; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSAL
NO. 2</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>APPROVAL
OF AMENDMENT TO THE COMPANY&#8217;S</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024
EQUITY INCENTIVE PLAN</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s stockholders are being asked to approve an amendment to the Company&#8217;s 2024 Equity Incentive Plan (the &#8220;2024
Plan&#8221;) that will increase the number of shares of the Company&#8217;s Class B Common Stock available for the grant of awards thereunder
by an additional 175,000. The Board of Directors adopted the proposed amendment to the 2024 Plan on September 18, 2025, subject to stockholder
approval at the Annual Meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors believes that the proposed amendment to increase the number of shares of Class B Common Stock available for the grant
of awards thereunder by 175,000 is necessary in order to provide the Company with a sufficient reserve of shares of Class B Common Stock
for future grants needed to attract and retain the services of key employees, directors and consultants of the Company essential to the
Company&#8217;s long-term success.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
proposed amendment is being submitted for a stockholder vote in order to enable the Company to grant, among other equity grants permitted
pursuant to the 2015 Plan, options which are incentive stock options (&#8220;ISOs&#8221;) within the meaning of Section 422 of the Internal
Revenue Code of 1986, as amended (the &#8220;Code&#8221;); and because such approval may be required or advisable in connection with
(i) the provisions set forth in Rule 16b-3 promulgated under the Exchange Act and (ii) the rules and regulations applicable to New York
Stock Exchange-listed companies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description of the 2024 Plan, as proposed to be amended by this Proposal, is a summary, does not purport to be complete and
is qualified in its entirety by the full text of the 2024 Plan, as proposed to be amended. A copy of the 2024 Plan, as proposed to be
amended, is attached hereto as Exhibit A and has been filed with the SEC with this Proxy Statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DESCRIPTION
OF THE 2024 PLAN</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the 2024 Plan, officers, employees, directors and consultants of the Company and certain of its subsidiaries are eligible to receive
awards of stock options, stock appreciation rights, restricted stock and deferred stock units. There are approximately 1,893 employees
and directors eligible for grants under the 2024 Plan. Options granted under the 2024 Plan may be ISOs or non-qualified stock options
(&#8220;NQSOs&#8221;). Stock appreciation rights (&#8220;SARs&#8221;) may be granted either alone or simultaneously with the grant of
an option. Restricted stock and restricted stock units may be granted in addition to or in lieu of any other award made under the 2024
Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
maximum number of shares reserved for the grant of awards under the 2024 Plan is 425,000 shares of Class B Common Stock. Such share reserves
are subject to further adjustment in the event of specified changes to the capital structure of the Company. The shares may be made available
either from the Company&#8217;s authorized but unissued capital stock or from capital stock reacquired by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Compensation Committee of the Board of Directors administers the 2024 Plan. Subject to the provisions of the 2024 Plan, the Compensation
Committee determines the type of awards, when and to whom awards will be granted, the number and class of shares covered by each award
and the terms, provisions and kind of consideration payable (if any), with respect to awards. The Compensation Committee may interpret
the 2024 Plan and may at any time adopt such rules and regulations for the 2024 Plan as it deems advisable, including the delegation
of certain of its authority. In determining the persons to whom awards shall be granted and the number of shares covered by each award,
the Compensation Committee takes into account the duties of the respective persons, their present and potential contributions to the
success of the Company and such other factors as the Compensation Committee deems relevant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
option may be granted on such terms and conditions as the Compensation Committee may approve, and generally may be exercised for a period
of up to ten years from the date of grant. Generally, ISOs will be granted with an exercise price equal to the &#8220;Fair Market Value&#8221;
(as defined in the 2024 Plan) on the date of grant. In the case of ISOs, certain limitations will apply with respect to the aggregate
value of option shares which can become exercisable for the first time during any one calendar year, and certain additional limitations
may apply to ISOs. The Compensation Committee may provide for the payment of the option price in cash, by delivery of Class B Common
Stock having a Fair Market Value equal to such option price, by a combination thereof or by any other method. Options granted under the
2024 Plan will become exercisable at such times and under such conditions as the Compensation Committee shall determine.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 48; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
2024 Plan also provides for the granting of restricted stock awards, which are awards of Class B Common Stock that may not be disposed
of, except by will or the laws of descent and distribution, for such period as the Compensation Committee determines (the &#8220;restricted
period&#8221;). The Compensation Committee may also impose such other conditions and restrictions, if any, on the shares as it deems
appropriate, including the satisfaction of performance criteria.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the restricted period for a restricted stock award, the grantee will be entitled to receive dividends with respect to, and to vote, the
shares of restricted stock awarded to him or her. If, during the restricted period, the grantee&#8217;s service with the Company terminates,
any shares remaining subject to restrictions will be forfeited. The Compensation Committee has the authority to cancel any or all outstanding
restrictions prior to the end of the restricted period, including cancellation of restrictions in connection with certain types of termination
of service.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
2024 Plan also permits the Compensation Committee to grant SARs. Generally, SARs may be exercised at such time or times and only to the
extent determined by the Compensation Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
exercise of an SAR, a grantee will receive for each share for which an SAR is exercised, an amount in cash or shares of Class B Common
Stock, as determined by the Compensation Committee, equal to the excess, if any, of (i) the Fair Market Value of a share of Class B Common
Stock on the date the SAR is exercised, over (ii) the exercise or other base price of the SAR or, if applicable, the exercise price per
share of the option to which the SAR relates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
an SAR is exercised, the option to which it relates, if any, will cease to be exercisable to the extent of the number of shares with
respect to which the SAR is exercised, but will be deemed to have been exercised for purposes of determining the number of shares available
for the future grant of awards under the 2024 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
2024 Plan further provides for the granting of restricted stock units, which are awards providing a right to receive shares of Class
B Common Stock on a deferred basis, subject to such restrictions and a restricted period as the Compensation Committee determines. The
Compensation Committee may also impose such other conditions and restrictions, if any, on the payment of shares as it deems appropriate,
including the satisfaction of performance criteria.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
grantee of a restricted stock unit will not be entitled to receive dividends or vote the underlying shares until the underlying shares
are delivered to the grantee. The Compensation Committee has the authority to cancel any or all outstanding restrictions prior to the
end of the restricted period, including cancellation of restrictions in connection with certain types of termination of service.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors may at any time, and from time to time, suspend, amend, modify or terminate the 2024 Plan; provided, however, that,
to the extent required by any other law, regulation or stock exchange rule, no such change shall be effective without the requisite approval
of the Company&#8217;s stockholders. In addition, no such change may adversely affect an award previously granted, except with the written
consent of the grantee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
awards may be granted under the 2024 Plan after October 26, 2033, ten years from the Board&#8217;s approval of the 2024 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company cannot now determine the number of options or other awards to be granted in the future under the 2024 Plan to officers, directors,
employees and consultants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Federal
Income Tax Consequences of Awards Granted under the 2024 Plan</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company believes that, under present law, the following are the U.S. federal income tax consequences generally arising with respect to
awards under the 2024 Plan:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Incentive
Stock Options</i>. ISOs granted under the 2024 Plan are intended to meet the definitional requirements of Section 422(b) of the Code
for &#8220;incentive stock options.&#8221; A participant who receives an ISO does not recognize any taxable income upon the grant of
such ISO. Similarly, the exercise of an ISO generally does not give rise to federal taxable income to the participant, provided that
(i) the federal &#8220;alternative minimum tax,&#8221; which depends on the participant&#8217;s particular tax situation, does not apply
and (ii) the participant is employed by the Company from the date of grant of the option until three months prior to the exercise thereof,
except where such employment or service terminates by reason of disability or death (where the three month period is extended to one
year).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 49; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,
if after exercising an ISO, a participant disposes of the shares of Class B Common Stock so acquired more than two years from the date
of grant and more than one year from the date of transfer of the Class B Common Stock pursuant to the exercise of such ISO (the &#8220;applicable
holding period&#8221;), the participant will normally recognize a long-term capital gain or loss equal to the difference, if any, between
the amount received for the shares and the exercise price. If, however, the participant does not hold the shares so acquired for the
applicable holding period &#8212; thereby making a &#8220;disqualifying disposition&#8221; &#8212; the participant would realize ordinary
income on the excess of the fair market value of the shares at the time the ISO was exercised over the exercise price, and the balance
of income, if any, would be long-term capital gain (provided the holding period for the shares exceeded one year and the participant
held such shares as a capital asset at such time).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
participant who exercises an ISO by delivering Class B Common Stock previously acquired pursuant to the exercise of another ISO is treated
as making a &#8220;disqualifying disposition&#8221; of such Class B Common Stock if such shares are delivered before the expiration of
their applicable holding period. Upon the exercise of an ISO with previously acquired shares as to which no disqualifying disposition
occurs, the participant would not recognize gain or loss with respect to such previously acquired shares. The Company will not be allowed
a federal income tax deduction upon the grant or exercise of an ISO or the disposition, after the applicable holding period, of the Class
B Common Stock acquired upon exercise of an ISO. In the event of a disqualifying disposition, the Company generally will be entitled
to a deduction in an amount equal to the ordinary income recognized by the participant, provided that such amount constitutes an ordinary
and necessary business expense to the Company and is reasonable and the limitations of Sections 280G and 162(m) of the Code (discussed
below) do not apply.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Non-Qualified
Stock Options and Stock Appreciation Rights</i>. Non-qualified stock options granted under the 2024 Plan are options that do not qualify
as ISOs. A participant who receives an NQSO or an SAR will not recognize any taxable income upon the grant of such NQSO or SAR. However,
the participant generally will recognize ordinary income upon exercise of an NQSO in an amount equal to the excess of (i) the fair market
value of the shares of Class B Common Stock at the time of exercise over (ii) the exercise price. Similarly, upon the receipt of cash
or shares pursuant to the exercise of an SAR, the individual generally will recognize ordinary income in an amount equal to the sum of
the cash and the fair market value of the shares received.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
ordinary income recognized with respect to the receipt of shares or cash upon exercise of a NQSO or an SAR will be subject to both wage
withholding and other employment taxes. In addition to the customary methods of satisfying the withholding tax liabilities that arise
upon the exercise of an SAR for shares or upon the exercise of a NQSO, the Company may satisfy the liability in whole or in part by withholding
shares of Class B Common Stock from those that otherwise would be issuable to the participant or by the participant tendering other shares
owned by him or her, valued at their fair market value as of the date that the tax withholding obligation arises.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
federal income tax deduction generally will be allowed to the Company in an amount equal to the ordinary income recognized by the individual
with respect to his or her NQSO or SAR, provided that such amount constitutes an ordinary and necessary business expense to the Company
and is reasonable and the limitations of Sections 280G and 162(m) of the Code do not apply.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
a participant exercises an NQSO by delivering shares of Class B Common Stock to the Company, other than shares previously acquired pursuant
to the exercise of an ISO which is treated as a &#8220;disqualifying disposition&#8221; as described above, the participant will not
recognize gain or loss with respect to the exchange of such shares, even if their then fair market value is different from the participant&#8217;s
tax basis. The participant, however, will be taxed as described above with respect to the exercise of the NQSO as if he or she had paid
the exercise price in cash, and the Company likewise generally will be entitled to an equivalent tax deduction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other
Awards</i>. With respect to other awards under the 2024 Plan that are settled either in cash or in shares of Class B Common Stock that
are either transferable or not subject to a substantial risk of forfeiture (as defined in the Code and the regulations thereunder), participants
generally will recognize ordinary income equal to the amount of cash or the fair market value of the Class B Common Stock received. Participants
also will not recognize income upon the grant of a deferred stock unit, and will instead recognize ordinary income when shares of Class
B Common Stock are delivered in satisfaction of such award.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 50; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
respect to restricted stock awards under the 2024 Plan that are restricted to transferability and subject to a substantial risk of forfeiture
&#8212; absent a written election pursuant to Section 83(b) of the Code filed with the Internal Revenue Service within 30 days after
the date of transfer of such shares pursuant to the award (a &#8220;Section 83(b) election&#8221;) &#8212; a participant will recognize
ordinary income at the earlier of the time at which (i) the shares become transferable or (ii) the restrictions that impose a substantial
risk of forfeiture of such shares (the &#8220;Restrictions&#8221;) lapse, in an amount equal to the excess of the fair market value (on
such date) of such shares over the price paid for the award, if any. If a Section 83(b) election is made, the participant will recognize
ordinary income, as of the transfer date, in an amount equal to the excess of the fair market value of the Class B Common Stock as of
that date over the price paid for such award, if any.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
ordinary income recognized with respect to the receipt of cash, shares of Class B Common Stock or other property under the 2024 Plan
will be subject to both wage withholding and other employment taxes. In addition to the customary methods of satisfying withholding tax
liabilities that arise with respect to the delivery of cash or property (or vesting thereof), the Company may satisfy the liability in
whole or in part by withholding shares of Class B Common Stock from those that would otherwise be issuable to the participant or by the
participant tendering other shares owned by him or her, valued at their fair market value as of the date that the tax withholding obligation
arises.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company generally will be allowed a deduction for federal income tax purposes in an amount equal to the ordinary income recognized by
the participant, provided that such amount constitutes an ordinary and necessary business expense and is reasonable and the limitations
of Sections 280G and 162(m) of the Code do not apply.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Change
in Control</i>. In general, if the total amount of payments to a participant that are contingent upon a &#8220;change in control&#8221;
of the Company (as defined in Section 280G of the Code), including awards under the 2024 Plan that vest upon a &#8220;change in control,&#8221;
equals or exceeds three times the individual&#8217;s &#8220;base amount&#8221; (generally, such participant&#8217;s average annual compensation
for the five calendar years preceding the change in control), then, subject to certain exceptions, the payments may be treated as &#8220;parachute
payments&#8221; under the Code, in which case a portion of such payments would be non-deductible to the Company and the participant would
be subject to a 20% excise tax on such portion of the payments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Certain
Limitations on Deductibility of Executive Compensation</i>. With certain exceptions, Section 162(m) of the Code denies a deduction to
publicly held corporations for compensation paid to certain executive officers in excess of $1 million per executive per taxable year
(including any deduction with respect to the exercise of an NQSO or SAR or the disqualifying disposition of stock purchased pursuant
to an ISO).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 21, 2025, the last reported sale price of the Class B Common Stock on the New York Stock Exchange was $49.42 per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE
BOARD OF DIRECTORS RECOMMENDS A VOTE <i>FOR</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>APPROVAL
OF THE AMENDMENT TO THE 2024 PLAN AS DESCRIBED ABOVE.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 51; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE
COMPANY&#8217;S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL 2025</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grant
Thornton LLP is the Company&#8217;s independent registered public accounting firm and has served the Company as its independent registered
public accounting firm since January 28, 2020. Grant Thornton LLP was the Company&#8217;s independent registered public accounting firm
for Fiscal 2024 and Fiscal 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is not asking stockholders to ratify at the Annual Meeting the appointment of Grant Thornton LLP or any other firm as the Company&#8217;s
independent registered public accounting firm for the Fiscal Year ending July 31, 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect that representatives for Grant Thornton LLP will be present at the Annual Meeting, will be available to respond to appropriate
questions and will have the opportunity to make such statements as they may desire.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Audit
and Non-Audit Fees</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table presents fees billed for professional services rendered by Grant Thornton LLP for the period from August 1, 2023 to July
31, 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold">Fiscal Years Ended July 31</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit Fees&#160;<sup>(1)</sup></span></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,632,695</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,617,624</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit-Related Fees&#160;<sup>(2)</sup></span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax Fees&#160;<sup>(3)</sup></span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">48,435</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">45,468</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All Other Fees&#160;<sup>(4)</sup></span></td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">7,996</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">7,577</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Total</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">1,689,126</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">1,631,669</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit
    Fees consist of fees for the audit of the Company&#8217;s financial statements included in the Form 10-K and reviews of financial
    statements included in the Company&#8217;s Form 10-Qs, for the audits of the effectiveness of the Company&#8217;s internal controls
    over financial reporting and for services that are normally provided by the independent accountant in connection with statutory and
    regulatory filings or engagements.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
    were no Audit-Related Fees for Fiscal 2024 or Fiscal 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
    Fees consist of fees for tax compliance and tax preparation related to three of the Company&#8217;s subsidiaries in Fiscal 2024 and
    Fiscal 2025.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2024 and Fiscal 2025, All Other Fees included fees relating to the support with statutory filings of a foreign subsidiary.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee concluded that the provision of the non-audit services listed above is compatible with maintaining the independence of
Grant Thornton, LLP.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Policy
on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of the Independent Registered Public Accounting Firm</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee is responsible for appointing, setting compensation for, and overseeing the Company&#8217;s independent registered public
accounting firm. The Audit Committee has established a policy regarding the pre-approval of all audit and permissible non-audit services
provided by the independent registered public accounting firm, and all such services were approved by the Audit Committee in Fiscal 2025
and Fiscal 2024.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee assesses requests for services by the independent registered public accounting firm using several factors. The Audit
Committee will consider whether such services are consistent with the Public Company Accounting Oversight Board&#8217;s (&#8220;PCAOB&#8221;)
and SEC&#8217;s rules on auditor independence. In addition, the Audit Committee will determine whether the independent registered public
accounting firm is best positioned to provide the most effective and efficient service based upon the members&#8217; familiarity with
the Company&#8217;s business, people, culture, accounting systems, risk profile and whether the service might enhance the Company&#8217;s
ability to manage or control risk or improve audit quality.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 52; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Report
of the Audit Committee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purpose of the Audit Committee is to assist the Board of Directors in its general oversight of the Company&#8217;s financial reporting
process, internal controls, and audit functions. The Audit Committee&#8217;s purpose is more fully described in its charter, which can
be found on the Company&#8217;s website at <i>www.idt.net/investors-and-media/governance.</i> The Audit Committee reviews its charter
on an annual basis. The Board of Directors annually reviews the NYSE listing standards&#8217; definition of independence for Audit Committee
members and has determined that each member of the Audit Committee meets that standard. The Board of Directors has also determined that
Irwin Katsof qualifies as an &#8220;audit committee financial expert&#8221; within the meaning of Item 407(d)(5) of Regulation S-K.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s management is responsible for the preparation, presentation, and integrity of the Company&#8217;s financial statements,
accounting and financial reporting principles, internal controls, and procedures designed to reasonably assure compliance with accounting
standards, applicable laws, and regulations. The Company has a full-time Internal Audit department that reports to the Audit Committee
and to the Company&#8217;s management. This department is responsible for objectively reviewing and evaluating the adequacy, effectiveness,
and quality of the Company&#8217;s system of internal controls related to, for example, the reliability and integrity of the Company&#8217;s
financial information and the safeguarding of the Company&#8217;s assets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s independent registered public accounting firm for Fiscal 2025, Grant Thornton LLP, is responsible for performing an independent
audit of the consolidated financial statements in accordance with generally accepted auditing standards and expressing an opinion on
the conformity of those financial statements with U.S. generally accepted accounting principles. In accordance with law, the Audit Committee
has ultimate authority and responsibility for selecting, compensating, evaluating, and, when appropriate, replacing the Company&#8217;s
independent audit firm, and evaluates its independence. The Audit Committee has the authority to engage its own outside advisors, including
experts in particular areas of accounting, as it determines appropriate, apart from counsel or advisors hired by the Company&#8217;s
management.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee members are not professional accountants or auditors, and their functions are not intended to duplicate or to certify
the activities of the Company&#8217;s management and the independent audit firm; nor can the Audit Committee certify that the independent
audit firm is &#8220;independent&#8221; under applicable rules. The Audit Committee serves a Board-level oversight role in which it provides
advice, counsel, and direction to the Company&#8217;s management and to the auditors on the basis of the information it receives, discussions
with the Company&#8217;s management and the auditors, and the experience of the Audit Committee&#8217;s members in business, financial,
and accounting matters.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee&#8217;s agenda for the year includes reviewing the Company&#8217;s financial statements, internal control over financial
reporting, and audit and other matters. The Audit Committee meets each quarter with Grant Thornton LLP and the Company&#8217;s management
to review the Company&#8217;s interim financial results before the publication of the Company&#8217;s quarterly earnings releases. The
Company&#8217;s management&#8217;s and the independent audit firm&#8217;s presentations to, and discussions with, the Audit Committee
cover various topics and events that may have significant financial impact or are the subject of discussions between the Company&#8217;s
management and the independent audit firm. The Audit Committee reviews and discusses with the Company&#8217;s management the Company&#8217;s
major financial risk exposures and the steps that the Company&#8217;s management has taken to monitor and control such exposures. In
accordance with law, the Audit Committee is responsible for establishing procedures for the receipt, retention, and treatment of complaints
received by the Company regarding accounting, internal accounting controls, or auditing matters, including confidential, anonymous submission
by the Company&#8217;s employees, received through established procedures, of any concerns regarding questionable accounting or auditing
matters.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Among
other matters, the Audit Committee monitors the activities and performance of the Company&#8217;s internal auditors and independent registered
public accounting firm, including the audit scope, external audit fees, auditor independence matters, and the extent to which the independent
audit firm can be retained to perform non-audit services. The Company&#8217;s independent audit firm has provided the Audit Committee
with the written disclosures and the letter required by the PCAOB regarding the independent accountant&#8217;s communications with the
Audit Committee concerning independence, and the Audit Committee has discussed with the independent audit firm and the Company&#8217;s
management that firm&#8217;s independence. In accordance with Audit Committee policy and the requirements of law, the Audit Committee
pre-approves all services to be provided by Grant Thornton LLP. Pre-approval includes audit services, audit-related services, tax services
and other services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Committee has reviewed and discussed with the Company&#8217;s management the audited financial statements of the Company for the Fiscal
Year ended July 31, 2025, as well as the effectiveness of the Company&#8217;s internal controls over financial reporting as of July 31,
2025. The Committee has also reviewed and discussed with Grant Thornton LLP the matters required to be discussed with the independent
registered public accounting firm by applicable PCAOB rules regarding &#8220;Communication with Audit Committees.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
reliance on these reviews and discussions, the Audit Committee recommended to the Board of Directors, and the Board has approved, that
the audited financial statements be included in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended July 31, 2025,
for filing with the Securities and Exchange Commission.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
    AUDIT COMMITTEE OF THE BOARD OF DIRECTORS</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Irwin
    Katsof, Chairman</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric
    F. Cosentino</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judah
    Schorr</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Notwithstanding
anything to the contrary set forth in any of the Company&#8217;s previous filings under the Act, as amended, or the Exchange Act, as
amended, that might incorporate future filings, including this Proxy Statement, in whole or in part, the foregoing report, as well as
any charters op policies referenced within this Proxy Statement, shall not be incorporated by reference into any such filings, nor shall
they be deemed to be soliciting material or deemed filed with the SEC under the Act or under the Exchange Act.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 53; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OTHER
INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Submission
of Proposals for the 2026 Annual Meeting of Stockholders</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders
who wish to present proposals for inclusion in the Company&#8217;s proxy materials in connection with the 2026 annual meeting of stockholders
must submit such proposals in writing to the Corporate Secretary of the Company at 520 Broad Street, Newark, New Jersey 07102, which
proposals must be received at such address no later than July 5, 2026. In addition, any stockholder proposal submitted with respect to
the Company&#8217;s 2026 annual meeting of stockholders, which proposal is submitted outside the requirements of Rule 14a-8 under the
Exchange Act and relevant interpretations thereof and other guidance related thereto will not be included in the relevant proxy materials
and will be considered untimely for purposes of Rule 14a-4 and 14a-5 if written notice thereof is received by the Company&#8217;s General
Counsel and Corporate Secretary after September 22, 2026.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other
than the Company&#8217;s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act
no later than October 13, 2026, or not later than the date that is 60 days prior to the one-year anniversary of the Annual Meeting if
such meeting takes place on any day other than December 10, 2026.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Availability
of Annual Report on Form 10-K</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
copies of the Company&#8217;s Annual Report on Form 10-K for Fiscal 2025 may be obtained by contacting Bill Ulrey, Vice President&#8211;Investor
Relations and External Affairs, by phone at (973) 438-3838, by mail addressed to Bill Ulrey, Vice President&#8211;Investor Relations
and External Affairs, at 520 Broad Street, Newark, New Jersey 07102, or may be requested through the Get In Touch section of our website:
<i>https://www.idt.net/investors-and-media</i>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other
Matters</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors knows of no other business that will be presented at the Annual Meeting. If any other business is properly brought
before the Annual Meeting, it is intended that proxies granted will be voted in respect thereof in accordance with the judgments of the
persons voting the proxies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is important that the proxies be returned promptly and that your shares be represented. Stockholders are urged to fill in, sign and promptly
return the accompanying form in the enclosed envelope.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BY
    ORDER OF THE BOARD OF DIRECTORS</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    30, 2025</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><img src="formdef14-a_002.jpg" alt="" style="height: 47px; width: 130px"/></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joyce
    J. Mason</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
    Vice President, General Counsel and Corporate Secretary</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<!-- Field: Page; Sequence: 54; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXHIBIT
A</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024
EQUITY INCENTIVE PLAN</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>Effective
October 26, 2023 to October 26, 2033<br/>
(Amended and Restated on September 18, 2025)</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
1.	</b><span style="text-decoration: underline">Purpose; Definitions</span>. The purposes of the IDT Corporation 2024 Equity Incentive Plan (as amended from time to time,
the &#8220;<span style="text-decoration: underline">Plan</span>&#8221;) are to: (a) enable IDT Corporation, a Delaware corporation (the &#8220;<span style="text-decoration: underline">Company</span>&#8221;), and its
affiliated companies to recruit and retain highly qualified employees, directors and consultants; (b) provide those employees, directors
and consultants with an incentive for productivity; and (c) provide those employees, directors and consultants with an opportunity to
share in the growth and value of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
purposes of the Plan, the following terms will have the meanings defined below, unless the context clearly requires a different meaning:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) &#8220;<span style="text-decoration: underline">Affiliate</span>&#8221;
means, with respect to a Person, a Person that directly or indirectly controls, is controlled by, or is under common control with such
Person.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) &#8220;<span style="text-decoration: underline">Applicable
Law</span>&#8221; means the legal requirements relating to the administration of and issuance of securities under stock incentive plans,
including, without limitation, the requirements of state corporations law, federal, state and foreign securities law, federal, state
and foreign tax law, and the requirements of any stock exchange or quotation system upon which the Shares may then be listed or quoted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) &#8220;<span style="text-decoration: underline">Approval
Date</span>&#8221; has the meaning defined below in <span style="text-decoration: underline">Section 17</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) &#8220;<span style="text-decoration: underline">Award</span>&#8221;
means an award of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units or Cash or Other Stock Based Awards made
under this Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e) &#8220;<span style="text-decoration: underline">Award
Agreement</span>&#8221; means, with respect to any particular Award, the written document that sets forth the terms of that particular Award.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f) &#8220;<span style="text-decoration: underline">Board</span>&#8221;
means the Board of Directors of the Company, as constituted from time to time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g) &#8220;<span style="text-decoration: underline">Cash
or Other Stock Based Award</span>&#8221; means an award that is granted under <span style="text-decoration: underline">Section 10</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)
&#8220;<span style="text-decoration: underline">Cause</span>&#8221; means (i) the Participant&#8217;s refusal to comply with any lawful directive or policy of the Company which
refusal is not cured by the Participant within ten (10) days of such written notice from the Company; (ii) the Company&#8217;s determination
that the Participant has committed any act of dishonesty, embezzlement, unauthorized use or disclosure of confidential information or
other intellectual property or trade secrets, common law fraud or other fraud against the Company or any Subsidiary or Affiliate; (iii)
a material breach by the Participant of any written agreement with or any fiduciary duty owed to any Company or any Subsidiary or Affiliate;
(iv) the Participant&#8217;s conviction (or the entry of a plea of a nolo contendere or equivalent plea) of a felony or any misdemeanor
involving material dishonesty or moral turpitude; or (v) the Participant&#8217;s habitual or repeated misuse of, or habitual or repeated
performance of Participant&#8217;s duties under the influence of, alcohol, illegally obtained prescription controlled substances or non-prescription
controlled substances. Notwithstanding the foregoing, if a Participant and the Company (or any of its Affiliates) have entered into an
employment agreement, consulting agreement or other similar agreement that specifically defines &#8220;cause,&#8221; then with respect
to such Participant, &#8220;Cause&#8221; shall have the meaning defined in such other agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 55; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) &#8220;<span style="text-decoration: underline">Change
in Control</span>&#8221; shall mean the occurrence of any of the following events: (i) any &#8220;person,&#8221; as such term is used in
Sections 13(d) and 14(d) of the Exchange Act (other than (A) the Company, (B) any trustee or other fiduciary holding securities under
an employee benefit plan of the Company, (C) any corporation or other entity owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their ownership of common stock, or (D) directly or directly by: (i) any person who,
together with such person&#8217;s Affiliates, on November 1, 2023, owned beneficially or of record securities representing 25% or more
of the combined voting power of the Company&#8217;s then outstanding voting securities, (ii) one or more trusts&#160;<span style="background-color: white">solely
for the benefit of any such persons and/or any Family Member(s) of such persons</span>&#160;or (iii) one or more entities that are directly
or indirectly controlled by such persons or&#160;and/or any Family Member(s) of such persons&#160;or (iv) as otherwise determined by
the Committee), is or becomes a &#8220;beneficial owner&#8221; (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing 50% or more of the total power to vote for the election of directors of the Company; (ii) during
any twelve month period, individuals who at the beginning of such period constitute the Board and any new director (other than a director
designated by a person who has entered into an agreement with the Company to effect a transaction described in <span style="text-decoration: underline">Section 1(i)(i)</span>,
<span style="text-decoration: underline">Section 1(i)(iii)</span>, <span style="text-decoration: underline">Section 1(i)(iv)</span> or <span style="text-decoration: underline">Section 1(i)(v)</span> hereof) whose election by the Board or nomination for election
by the Company&#8217;s stockholders was approved by a vote of at least a majority of the directors then still in office who either were
directors at the beginning of the period of whose election or nomination for election was previously approved, cease for any reason to
constitute a majority thereof; (iii) the merger or consolidation of the Company with another corporation where the stockholders of the
Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation,
shares entitling such stockholders to 50% or more of all votes to which all stockholders of the surviving corporation would be entitled
in the election of directors (without consideration of the rights of any class of stock to elect directors by a separate class vote);
(iv) the sale or other disposition of all or substantially all of the assets of the Company; (v) a liquidation or dissolution of the
Company; or (vi) such other event deemed to constitute a &#8220;Change in Control&#8221; by the Board.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 13.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 13.5pt; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
anything in the Plan or an Award Agreement to the contrary, to the extent necessary to comply with Section 409A of the Code, no event
that, but for the application of this paragraph, would be a Change in Control as defined in the Plan or the Award Agreement, as applicable,
shall be a Change in Control unless such event is also a &#8220;change in control event&#8221; as defined in Section 409A of the Code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j) &#8220;<span style="text-decoration: underline">Code</span>&#8221;
means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k) &#8220;<span style="text-decoration: underline">Committee</span>&#8221;
means the committee authorized to administer the Plan under <span style="text-decoration: underline">Section 2</span>. To the extent required under Applicable Law, the Committee
shall have at least two members and each member of the Committee shall be a Non-Employee Director. Unless otherwise determined by the
Board, the Compensation Committee of the Board will serve as the Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l) &#8220;<span style="text-decoration: underline">Director</span>&#8221;
means a member of the Board.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m) &#8220;<span style="text-decoration: underline">Disability</span>&#8221;
means a condition rendering a Participant Disabled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n) &#8220;<span style="text-decoration: underline">Disabled</span>&#8221;
will have the same meaning as set forth in Section&#160;22I(3) of the Code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o) &#8220;<span style="text-decoration: underline">Effective
Date</span>&#8221; has the meaning defined below in <span style="text-decoration: underline">Section 17</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p) &#8220;<span style="text-decoration: underline">Exchange
Act</span>&#8221; means the Securities Exchange Act of 1934, as amended.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q) &#8220;<span style="text-decoration: underline">Fair
Market Value</span>&#8221; means, as of any date, the value of a Share determined as follows: (i)&#160;if the Shares are listed on any established
stock exchange or a national market system (including, without limitation, the New York Stock Exchange), the Fair Market Value of a Share
will be the closing sales price for such stock as quoted on that exchange or system at the close of regular hours trading for the last
preceding date on which there were sales of Shares on such exchange or system; (ii)&#160;if the Shares are regularly quoted by recognized
securities dealers but selling prices are not reported, the Fair Market Value of a Share will be the mean between the high bid and low
asked prices for Shares at the close of regular hours trading on the last preceding date; or (iii)&#160;if Shares are not traded as set
forth above, the Fair Market Value will be determined in good faith by the Committee taking into consideration such factors as the Committee
considers appropriate, such determination by the Committee to be final, conclusive and binding. Notwithstanding the foregoing, in connection
with a Change in Control, Fair Market Value shall be determined in good faith by the Committee, such determination by the Committee to
be final conclusive and binding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 56; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r) &#8220;<span style="text-decoration: underline">Family
Member</span>&#8221; shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, aunt,
uncle, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive
relationships), any person sharing the household (other than a tenant or employee), a trust in which these persons have more than 50%
of the beneficial interest, a foundation in which these persons control the management of assets, and any other entity in which these
persons own more than 50% of the voting interests.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s) &#8220;<span style="text-decoration: underline">Incentive
Stock Option</span>&#8221; means any Option intended to be an &#8220;Incentive Stock Option&#8221; within the meaning of Section&#160;422
of the Code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t) &#8220;Insider
Trading Policy&#8221; shall mean the Insider Trading Policy (or similar policy) of the Company, as may be amended from time to time or
any replacement therefor.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u) &#8220;<span style="text-decoration: underline">Non-Employee
Director</span>&#8221; will have the meaning set forth in Rule&#160;16b-3(b)(3)(i) promulgated by the Securities and Exchange Commission
under the Exchange Act, or any successor definition adopted by the Securities and Exchange Commission and shall refer to a Non-Employee
Director of the Company or any Subsidiary of the Company who is not an employee of the Company or any Subsidiary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v) &#8220;<span style="text-decoration: underline">Non-Qualified
Stock Option</span>&#8221; means any Option that is not an Incentive Stock Option.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(w) &#8220;<span style="text-decoration: underline">Option</span>&#8221;
means any option to purchase Shares (including an option to purchase Restricted Stock, if the Committee so determines) granted pursuant
to <span style="text-decoration: underline">Section 5</span> hereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x) &#8220;<span style="text-decoration: underline">Parent</span>&#8221;
means, in respect of the Company, a &#8220;parent corporation&#8221; as defined in Section&#160;424(e) of the Code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(y) &#8220;<span style="text-decoration: underline">Participant</span>&#8221;
means an employee, consultant, Director, or other service provider of or to the Company or any of its Affiliates to whom an Award is
granted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(z) &#8220;<span style="text-decoration: underline">Person</span>&#8221;
means an individual, partnership, corporation, limited liability company, trust, joint venture, unincorporated association, or other
entity or association.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aa)	&#8220;<span style="text-decoration: underline">Restricted
Stock</span>&#8221; means Shares that are subject to restrictions pursuant to <span style="text-decoration: underline">Section 8</span> hereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bb)	&#8220;<span style="text-decoration: underline">Restricted
Stock Unit</span>&#8221; means a right granted under and subject to restrictions pursuant to <span style="text-decoration: underline">Section 9</span> hereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(cc)	&#8220;<span style="text-decoration: underline">Securities
Act</span>&#8221; means the Securities Act of 1933, as amended.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(dd)	&#8220;<span style="text-decoration: underline">Shares</span>&#8221;
means shares of the Company&#8217;s Class B common stock, par value $0.01, subject to substitution or adjustment as provided in <span style="text-decoration: underline">Section
3(e)</span> hereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ee)	&#8220;<span style="text-decoration: underline">Stock
Appreciation Right</span>&#8221; means a right granted under and subject to <span style="text-decoration: underline">Section 6</span> hereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ff)	&#8220;<span style="text-decoration: underline">Subsidiary</span>&#8221;
means, in respect of the Company, a subsidiary company as defined in Sections&#160;424(f) and (g) of the Code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
2.	</b><span style="text-decoration: underline">Administration</span>. The Plan shall be administered by the Committee; <i>provided</i>, <i>that</i>, notwithstanding anything
to the contrary herein, in its sole discretion, the Board may at any time and from time to time exercise any and all rights and duties
of the Committee under the Plan except with respect to matters which under Applicable Law are required to be determined in the sole discretion
of the Committee. Any action of the Committee in administering the Plan shall be final, conclusive and binding on all persons, including
the Company, its Subsidiaries, Affiliates, their respective employees, the Participants, persons claiming rights from or through Participants
and stockholders of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p>

<!-- Field: Page; Sequence: 57; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Committee will have full authority to grant Awards under this Plan and determine the terms of such Awards. Such authority will include
the right to:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) select
the individuals to whom Awards are granted (consistent with the eligibility conditions set forth in <span style="text-decoration: underline">Section 4</span>);</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) determine
the type of Award to be granted;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) determine
the number of Shares, if any, to be covered by each Award;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) establish
the other terms and conditions of each Award; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
modify or amend each Award, subject to the Participant&#8217;s consent if such modification or amendment would materially impair such
Participant&#8217;s rights.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Committee will have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as
it, from time to time, deems advisable; to interpret the terms and provisions of the Plan and any Award issued under the Plan (and any
Award Agreement); and to otherwise take any action that may be necessary or desirable to facilitate the administration of the Plan. The
Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award Agreement in the manner
and to the extent it deems necessary to carry out the intent of the Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the extent permitted by Applicable Law, the Committee may delegate to one or more officers of the Company the authority to grant Awards
to employees of the Company or its Subsidiaries who are not executive officers of the Company subject to the requirements of Section
16 of the Exchange Act and the rules and regulations thereunder. The Committee may revoke any such delegation at any time for any reason
with or without prior notice.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
Director will be liable for any good faith determination, act or omission in connection with the Plan or any Award.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
3.	</b><span style="text-decoration: underline">Shares Subject to the Plan</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <span style="text-decoration: underline">Shares
Subject to the Plan</span>. Subject to adjustment as provided in this <span style="text-decoration: underline">Section 3</span>, the maximum number of Shares that may be issued
in respect of Awards under the Plan is 425,000. Any Shares issued hereunder may consist, in whole or in part, of authorized and unissued
Shares or treasury shares. Any Shares issued in respect of Awards granted in substitution for equity-based awards of an entity acquired
by the Company or a Subsidiary, or with which the Company or a Subsidiary combines, shall not reduce the maximum number of Shares available
for delivery under the Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span style="text-decoration: underline">Incentive
Stock Option Limit</span>. Subject to adjustment as provided in <span style="text-decoration: underline">Section 3(e)</span> of the Plan, the maximum aggregate number of Shares
that may be issued under the Plan in respect of Incentive Stock Options is 100% of the amount stated in the first sentence of <span style="text-decoration: underline">Section
3</span>(a) of the Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) <span style="text-decoration: underline">Effect
of the Expiration or Termination of Awards</span>. If and to the extent that an Option or a Stock Appreciation Right expires, terminates
or is canceled or forfeited for any reason without having been exercised in full, the Shares associated with that Award will again become
available for grant under the Plan. Similarly, if and to the extent an Award of Restricted Stock or Restricted Stock Units is canceled
or forfeited for any reason, the Shares subject to that Award will again become available for grant under the Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) <span style="text-decoration: underline">Shares
Withheld in Satisfaction of Taxes or Exercise Price</span>. Shares withheld in settlement of a tax withholding obligation associated with
an Award, or in satisfaction of the exercise price payable upon exercise of an Option, will again become available for grant under the
Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 58; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e) <span style="text-decoration: underline">Other
Adjustment</span>. In the event of any corporate event or transaction such as a merger, consolidation, reorganization, recapitalization,
stock split, reverse stock split, split up, spin-off, combination of shares, exchange of shares, stock dividend, dividend in kind, or
other like change in capital structure (other than ordinary cash dividends) to stockholders of the Company, or other similar corporate
event or transaction affecting the Shares, the Committee, to prevent dilution or enlargement of Participants&#8217; rights under the
Plan, shall, in such manner as it deems equitable, substitute or adjust, in its sole discretion, the number and kind of shares that may
be issued under the Plan or under any outstanding Awards, the number and kind of shares subject to outstanding Awards, the exercise price,
grant price or purchase price applicable to outstanding Awards, and/or any other affected terms and conditions of this Plan or outstanding
Awards.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f) <span style="text-decoration: underline">Change
in Control</span>. Notwithstanding anything to the contrary set forth in the Plan, upon or in anticipation of any Change in Control, the
Committee may, in its sole and absolute discretion and without the need for the consent of any Participant, take one or more of the following
actions contingent upon the occurrence of that Change in Control:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) cause
any or all outstanding Awards to become vested and immediately exercisable (as applicable), in whole or in part;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) cause
any outstanding Option or Stock Appreciation Right to become fully vested and immediately exercisable for a reasonable period in advance
of the Change in Control and, to the extent not exercised prior to that Change in Control, cancel that Option or Stock Appreciation Right
upon closing of the Change in Control;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii) cancel
any unvested Award or unvested portion thereof, with or without consideration;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv) cancel
any Award in exchange for a substitute award;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v) redeem
any Restricted Stock or Restricted Stock Unit for cash and/or other substitute consideration with value equal to the Fair Market Value
of an unrestricted Share on the date of the Change in Control;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi) cancel
any Option or Stock Appreciation Right in exchange for cash and/or other substitute consideration with a value equal to: (A)&#160;the
number of Shares subject to that Option or Stock Appreciation Right, multiplied by (B)&#160;the difference, if any, between the Fair
Market Value on the date of the Change in Control and the exercise price of that Option or the base price of the Stock Appreciation Right;
<i>provided</i>, that if the Fair Market Value on the date of the Change in Control does not exceed the exercise price of any such Option
or the base price of any such Stock Appreciation Right, the Committee may cancel that Option or Stock Appreciation Right without any
payment of consideration therefor; and/or</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii) take
such other action as the Committee determines to be appropriate under the circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the discretion of the Committee, any cash or substitute consideration payable upon cancellation of an Award may be subjected to (i)&#160;vesting
terms substantially identical to those that applied to the cancelled Award immediately prior to the Change in Control, or (ii)&#160;earn-out,
escrow, holdback or similar arrangements, to the extent such arrangements are applicable to any consideration paid to stockholders in
connection with the Change in Control.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
any provision of this <span style="text-decoration: underline">Section 3(f)</span>, in the case of any Award subject to Section 409A of the Code, the Committee shall only be
permitted to take actions under this <span style="text-decoration: underline">Section 3(f)</span> to the extent that such actions would be consistent with the intended treatment
of such Award under Section 409A of the Code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g) <span style="text-decoration: underline">Foreign
Holders</span>. N<span style="background-color: white">otwithstanding any provision of the Plan to the contrary, in order to comply with
the laws in countries other than the United States in which the Company and its Subsidiaries operate or have </span>employees, directors
and consultants<span style="background-color: white">, or in order to comply with the requirements of any foreign securities exchange
or other Applicable Law, the Committee, in its sole discretion, shall have the power and authority to: (i) modify the terms and conditions
of any Award granted to </span>employees, directors and consultants <span style="background-color: white">outside the United States to
comply with Applicable Law (including, without limitation, applicable foreign laws or listing requirements of any foreign securities
exchange); (ii) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary
or advisable;&#160;<i>provided</i>,&#160;<i>however</i>, that no such subplans and/or modifications shall increase the share limitations
contained in <span style="text-decoration: underline">Section 3</span>; and (iii) take any action, before or after an Award is made, that it deems advisable to obtain approval
or comply with any necessary local governmental regulatory exemptions or approvals or listing requirements of any foreign securities
exchange.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 59; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h) <span style="text-decoration: underline">Annual
Compensation Limitations for Non-Employee Directors</span>. Beginning with the first fiscal year following the year in which the Approval
Date occurs, the aggregate amount of equity and cash compensation (collectively &#8220;<span style="text-decoration: underline">Compensation</span>&#8221;) payable to a Non-Employee
Director with respect to a fiscal year, whether under the Plan or otherwise, for services as a Non-Employee Director, shall not exceed
$750,000; <i>provided</i>, <i>however</i>, that such amount shall be $1,000,000 for the fiscal year in which the applicable Non-Employee
Director is initially elected or appointed to the Board (collectively, the &#8220;<span style="text-decoration: underline">Director Limit</span>&#8221;). Equity incentive awards
shall be counted towards the Director Limit in the year in which they are granted, based on the grant date fair value of such awards
for financial reporting purposes (but excluding the impact of estimated forfeitures related to service-based vesting provisions). Cash
fees shall be counted towards the Director Limit in the year for which they are reported as compensation in the Company&#8217;s director
compensation disclosures pursuant to Item 402 of Regulation S-K under the Securities Act, or a successor provision. The Director Limit
shall not apply to (i) Compensation earned by a Non-Employee Director solely in his or her capacity as chairperson of the Board or lead
independent director; (ii) Compensation earned with respect to services a Non-Employee Director provides in a capacity other than as
a Non-Employee Director, such as an advisor or consultant to the Company; and (iii) Compensation awarded by the Board to a Non-Employee
Director in extraordinary circumstances, as determined by the Board in its discretion, in each case provided that the Non-Employee Director
receiving such additional Compensation does not participate in the decision to award such Compensation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
4.	</b><span style="text-decoration: underline">Eligibility</span>. Employees, Directors, consultants and other persons who provide services to the Company or its Affiliates
are eligible to be granted Awards under the Plan; <i>provided </i>that such persons are eligible to be issued securities of the Company
registered on Form S-8 or exempt from registration under Rule 701 under the Securities Act, as applicable (or any successor provision).
However, only employees of the Company, any Parent or a Subsidiary are eligible to be granted Incentive Stock Options.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
5.	</b><span style="text-decoration: underline">Options</span>. Options granted under the Plan may be of two types: (i)&#160;Incentive Stock Options or (ii)&#160;Non-Qualified
Stock Options. The Award Agreement shall state whether such grant is an Incentive Stock Option or a Non-Qualified Stock Option.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Award Agreement evidencing any Option will incorporate the following terms and conditions and will contain such additional terms and
conditions, not inconsistent with the terms of the Plan, as the Committee deems appropriate in its sole and absolute discretion:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)	<span style="text-decoration: underline">Shares</span>.	The
number of Shares subject to the Option.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span style="text-decoration: underline">Option
Price</span>. The exercise price per Share under an Option will be determined by the Committee and, in the case of an Incentive Stock Option,
will not be less than 100% of Fair Market Value on the date of the grant. However, any Incentive Stock Option granted to any Participant
who, at the time the Option is granted, owns, either directly and/or within the meaning of the attribution rules contained in Section&#160;424(d)
of the Code, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, will have an exercise
price per Share of not less than 110% of Fair Market Value on the date of the grant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) <span style="text-decoration: underline">Option
Term</span>. The term of each Option will be fixed by the Committee, but no Option will be exercisable more than 10 years after the date
the Option is granted. However, any Incentive Stock Option granted to any Participant who, at the time such Option is granted, owns,
either directly and/or within the meaning of the attribution rules contained in Section&#160;424(d) of the Code, stock possessing more
than 10% of the total combined voting power of all classes of stock of the Company, may not have a term of more than 5 years. No Option
may be exercised by any Person after expiration of the term of the Option. Unless otherwise specified by the Committee or required by
the second sentence of this paragraph, each Option will have a term of 10 years (subject to earlier termination in accordance with other
provisions of this Plan and the applicable award agreement).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) <span style="text-decoration: underline">Exercisability</span>.
Options will vest and be exercisable at such time or times and subject to such terms and conditions as determined by the Committee. Such
terms and conditions may include the continued employment or service of the Participant, the attainment of specified individual or corporate
performance goals, or such other factors as the Committee may determine in its sole discretion (the &#8220;<span style="text-decoration: underline">Vesting Conditions</span>&#8221;).
<span style="background-color: white">The Committee may provide in the terms of an Award Agreement that the Participant may exercise
the unvested portion of an Option in whole or in part in exchange for shares of Restricted Stock subject to the same vesting terms as
the portion of the Option so exercised. Restricted Stock acquired upon the exercise of an unvested Option shall be subject to such additional
terms and conditions as </span>determined by the Committee<span style="background-color: white">.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 60; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e) <span style="text-decoration: underline">Method
of Exercise</span>. Subject to the terms of the applicable Award Agreement, the exercisability provisions of <span style="text-decoration: underline">Section 5(c)</span> and the
termination provisions of <span style="text-decoration: underline">Section 7</span>, Options may be exercised in whole or in part from time to time during their term by the delivery
of written notice to the Company specifying the number of Shares to be purchased. Such notice will be accompanied by payment in full
of the purchase price and any taxes required to be withheld in connection with such exercise, either by certified or bank check, in the
manner described in the next sentence, or by such other means as the Committee may accept. Unless otherwise determined by the Committee
(which determination may be made at any time), payment of the exercise price of an Option may be paid in the form of previously acquired
Shares based on the Fair Market Value of the Shares on the date the Option is exercised or by means of a &#8220;net settlement,&#8221;
whereby the Option exercise price will not be due in cash and where the number of Shares issued upon such exercise will be equal to:
(A)&#160;the product of (i)&#160;the number of Shares as to which the Option is then being exercised, and (ii)&#160;the excess, if any,
of (a)&#160;the then current Fair Market Value over (b)&#160;the Option exercise price, divided by (B)&#160;the then current Fair Market
Value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
Option will not confer upon the Participant any of the rights or privileges of a stockholder in the Company unless and until the Participant
exercises the Option in accordance with the paragraph above and is issued Shares pursuant to such exercise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f) <span style="text-decoration: underline">Incentive
Stock Option Limitations</span>. In the case of an Incentive Stock Option, the aggregate Fair Market Value (determined as of the time of
grant) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar
year under the Plan and/or any other plan of the Company, its Parent or any Subsidiary will not exceed $100,000. For purposes of applying
the foregoing limitation, Incentive Stock Options will be taken into account in the order granted. To the extent any Option does not
meet such limitation, that Option will be treated for all purposes as a Non-Qualified Stock Option.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g) <span style="text-decoration: underline">Termination
of Service</span>. Unless otherwise specified in the applicable Award Agreement or as otherwise provided by the Committee at or after the
time of grant, Options will be subject to the terms of <span style="text-decoration: underline">Section 7</span> with respect to exercise upon or following termination of employment
or other service.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
6.	</b><span style="text-decoration: underline">Stock Appreciation Right</span>. Subject to the other terms of the Plan, the Committee may grant Stock Appreciation Rights
to eligible individuals. Each Stock Appreciation Right shall represent the right to receive, upon exercise, an amount equal to the number
of Shares subject to the Award that is being exercised multiplied by the excess of (i) the Fair Market Value on the date the Award is
exercised, over (ii) the base price specified in the applicable Award Agreement. Distributions may be made in cash, Shares, or a combination
of both, at the discretion of the Committee. The Award Agreement evidencing each Stock Appreciation Right shall indicate the base price,
the term and the Vesting Conditions for such Award. A Stock Appreciation Right base price may never be less than the Fair Market Value
of an underlying Share of the Company on the date of grant of such Stock Appreciation Right. The term of each Stock Appreciation Right
will be fixed by the Committee, but no Stock Appreciation Right will be exercisable more than 10 years after the date the Stock Appreciation
Right is granted. Subject to the terms and conditions of the applicable Award Agreement, Stock Appreciation Rights may be exercised in
whole or in part from time to time during their term by the delivery of written notice to the Company specifying the portion of the Award
to be exercised. Unless otherwise specified in the applicable Award Agreement or as otherwise provided by the Committee at or after the
time of grant, Stock Appreciation Rights will be subject to the terms of <span style="text-decoration: underline">Section 7</span> with respect to exercise upon or following
termination of employment or other service.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
7.	</b><span style="text-decoration: underline">Termination of Service</span>. Unless otherwise specified with respect to a particular Option or Stock Appreciation Right in
the applicable Award Agreement or otherwise determined by the Committee, any portion of an Option or Stock Appreciation Right that is
not exercisable upon termination of service will expire immediately and automatically upon such termination and any portion of an Option
or Stock Appreciation Right that is exercisable upon termination of service will expire on the date it ceases to be exercisable in accordance
with this <span style="text-decoration: underline">Section 7</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 61; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <span style="text-decoration: underline">Termination
by Reason of Death</span>. If a Participant&#8217;s service with the Company or any Affiliate terminates by reason of death, any Option
or Stock Appreciation Right held by such Participant may thereafter be exercised, to the extent it was exercisable at the time of his
or her death or on such accelerated basis as the Committee may determine at or after grant, by the legal representative of the estate
or by the legatee of the Participant, for a period expiring (i)&#160;at such time as may be specified by the Committee at or after grant,
or (ii)&#160;if not specified by the Committee, then six (6) months from the date of death, or (iii)&#160;if sooner than the applicable
period specified under (i)&#160;or (ii)&#160;above, upon the expiration of the stated term of such Option or Stock Appreciation Right.
In the event that an Option or Stock Appreciation Right granted hereunder shall be exercised by the legal representatives of a deceased
or former Participant, written notice of such exercise shall be accompanied by a certified copy of letters testamentary or equivalent
proof of the right of such legal representative to exercise such Option or Stock Appreciation Right.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span style="text-decoration: underline">Termination
by Reason of Disability</span>. If a Participant&#8217;s service with the Company or any Affiliate terminates by reason of Disability, any
Option or Stock Appreciation Right held by such Participant may thereafter be exercised by the Participant or his or her personal representative,
to the extent it was exercisable at the time of termination, or on such accelerated basis as the Committee may determine at or after
grant, for a period expiring (i)&#160;at such time as may be specified by the Committee at or after grant, or (ii)&#160;if not specified
by the Committee, then six (6) months from the date of termination of service, or (iii)&#160;if sooner than the applicable period specified
under (i) or (ii) above, upon the expiration of the stated term of such Option or Stock Appreciation Right. In the event that an Option
or Stock Appreciation Right granted hereunder shall be exercised by the legal representatives of a former Participant, written notice
of such exercise shall be accompanied by proof of the right of such legal representative to exercise such Option or Stock Appreciation
Right</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) <span style="text-decoration: underline">Cause</span>.
If a Participant&#8217;s service with the Company or any Affiliate is terminated for Cause or if a Participant resigns at a time that
there was a Cause basis for such Participant&#8217;s termination: (i)&#160;any Option or Stock Appreciation Right, or portion thereof,
not already exercised will be immediately and automatically forfeited as of the date of such termination, and (ii)&#160;any Shares that
the Company has not yet delivered will be immediately and automatically forfeited and the Company will refund to the Participant the
Option exercise price paid for such Shares, if any.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) <span style="text-decoration: underline">Other
Termination</span>. If a Participant&#8217;s service with the Company or any Affiliate terminates for any reason other than death, Disability
or Cause, any Option or Stock Appreciation Right held by such Participant may thereafter be exercised by the Participant, to the extent
it was exercisable at the time of such termination, or on such accelerated basis as the Committee may determine at or after grant, for
a period expiring (i)&#160;at such time as may be specified by the Committee at or after grant, or (ii)&#160;if not specified by the
Committee, then 90 days from the date of termination of service, or (iii)&#160;if sooner than the applicable period specified under (i)
or (ii) above, upon the expiration of the stated term of such Option or Stock Appreciation Right.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
8.	</b><span style="text-decoration: underline">Restricted Stock</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <span style="text-decoration: underline">Issuance</span>.
Restricted Stock may be issued either alone or in conjunction with other Awards. The Committee will determine the time or times within
which Restricted Stock may be subject to forfeiture, and all other conditions of such Awards. The purchase price for Restricted Stock
may, but need not, be zero.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span style="text-decoration: underline">Restrictions
and Conditions</span>. The Award Agreement evidencing the grant of any Restricted Stock will incorporate the following terms and conditions
and such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee deems appropriate in its sole
and absolute discretion:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) During
a period commencing with the date of an Award of Restricted Stock and ending at such time or times as specified by the Committee (the
&#8220;<span style="text-decoration: underline">Restriction Period</span>&#8221;), the Participant will not be permitted to sell, transfer, pledge, assign or otherwise encumber
Restricted Stock awarded under the Plan. The Committee may condition the lapse of restrictions on Restricted Stock upon one or more Vesting
Conditions (provided that such Shares shall continue to be subject to the Insider Trading Policy to the extent applicable).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 62; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) While
any Share of Restricted Stock remains subject to restriction, the Participant will have, with respect to the Restricted Stock, the right
to vote the Shares. If any cash distributions or dividends are payable with respect to the Restricted Stock, the cash distributions or
dividends will be subjected to the same Restriction Period as is applicable to the Restricted Stock with respect to which such amounts
are paid, or, if the Committee so determines, reinvested in additional Restricted Stock, to the extent Shares are available under Section
3 of the Plan. A Participant shall not be entitled to interest with respect to any dividends or distributions subjected to the Restriction
Period. Any distributions or dividends paid in the form of securities with respect to Restricted Stock will be subject to the same terms
and conditions as the Restricted Stock with respect to which they were paid, including, without limitation, the same Restriction Period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii) Subject
to the provisions of the applicable Award Agreement or as otherwise determined by the Committee, if a Participant&#8217;s service with
the Company and its Affiliates terminates prior to the expiration of the applicable Restriction Period, the Participant&#8217;s Restricted
Stock that then remains subject to forfeiture will then be forfeited automatically.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
9.	</b><span style="text-decoration: underline">Restricted Stock Units</span>. Subject to the other terms of the Plan, the Committee may grant Restricted Stock Units to eligible
individuals and may impose one or more Vesting Conditions on such units. Each Restricted Stock Unit will represent a right to receive
from the Company, upon fulfillment of any applicable conditions, an amount equal to the Fair Market Value (at the time of the distribution).
Distributions may be made in cash, Shares, or a combination of both, at the discretion of the Committee. The Award Agreement evidencing
a Restricted Stock Unit shall set forth the Vesting Conditions and time and form of payment with respect to such Award. The Participant
shall not have any stockholder rights with respect to the Shares subject to a Restricted Stock Unit Award until that Award vests and
the Shares are actually issued thereunder; <i>provided</i>, <i>however</i>, that an Award Agreement may provide for the inclusion of
dividend equivalent payments or unit credits with respect to the Award in the discretion of the Committee. Subject to the provisions
of the applicable Award Agreement or as otherwise determined by the Committee, if a Participant&#8217;s service with the Company terminates
prior to the Restricted Stock Unit Award vesting in full, any portion of the Participant&#8217;s Restricted Stock Units that then remain
subject to forfeiture will then be forfeited automatically.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
10.	</b><span style="text-decoration: underline">Cash or Other Stock Based Awards</span>. Subject to the other terms of the Plan, the Committee may grant Cash or Other Stock
Based Awards (including Awards to receive unrestricted Shares or immediate cash payments) to eligible individuals. The Award Agreement
evidencing a Cash or Other Stock Based Award shall set forth the terms and conditions of such Cash or Other Stock Based Award, including,
as applicable, the term, any exercise or purchase price, performance goals, Vesting Conditions and other terms and conditions. Payment
in respect of a Cash or Other Stock Based Award may be made in cash, Shares, or a combination of cash and Shares, as determined by the
Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
11.	</b><span style="text-decoration: underline">Amendments and Termination</span>. <span style="background-color: white">Subject to any stockholder approval that may be required
under Applicable Law, the Plan may be amended or terminated at any time or from time to time by the Board</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
12.	</b><span style="text-decoration: underline">Repricing Permitted</span>. The Committee may reprice Options or Stock Appreciation Rights without stockholder approval, whether
such repricing is accomplished by (i) means of a cancellation/re-grant program pursuant to which outstanding Options or Stock Appreciation
Rights are cancelled and new Options or Stock Appreciation Rights are granted in replacement with a lower exercise or base price per
share, (ii) cancellation of outstanding Options or Stock Appreciation Rights with exercise prices or base prices per share in excess
of the then current Fair Market Value for consideration payable in equity securities of the Company or cash, (iii) directly or indirectly
reducing the exercise price or base price of outstanding Options or Stock Appreciation Rights, or (iv) any other method.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 63; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
13.	</b><span style="text-decoration: underline">Conditions Upon Grant of Awards and Issuance of Shares</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) The
implementation of the Plan, the grant of any Award and the issuance of Shares in connection with the issuance, exercise or vesting of
any Award made under the Plan shall be subject to the Company&#8217;s procurement of all approvals and permits required by regulatory
authorities having jurisdiction over the Plan, the Awards made under the Plan and the Shares issuable pursuant to those Awards.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) No
Shares or other assets shall be issued or delivered under the Plan unless and until there shall have been compliance with all applicable
requirements of Applicable Law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) If
the Company cannot, by the exercise of commercially reasonable efforts, obtain authority from any regulatory body having jurisdiction
over the issuance or sale of Shares under this Plan, and such authority is deemed by the Company&#8217;s counsel to be necessary to the
lawful issuance of those Shares, the Company will be relieved of any liability for failing to issue or sell those Shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
14.	</b><span style="text-decoration: underline">Limits on Transferability; Beneficiaries</span>. No Award or other right or interest of a Participant under the Plan shall
be pledged, encumbered, or hypothecated to, or in favor of, or subject to any lien, obligation, or liability of such Participant to,
any party, other than the Company, any Subsidiary or Affiliate, or assigned or transferred by such Participant other than by will or
the laws of descent and distribution, and such Awards and rights shall be exercisable during the lifetime of the Participant only by
the Participant or his or her guardian or legal representative. Notwithstanding the foregoing, the Committee may, in its discretion,
provide that Awards or other rights or interests of a Participant granted pursuant to the Plan (other than an Incentive Stock Option)
be transferable, without consideration, to immediate family members (i.e., children, grandchildren or spouse), to trusts for the benefit
of such immediate family members, to partnerships in which such family members are the only partners, to other similar estate planning
vehicles, or to such other transferees as the Committee permits (taking into account the restrictions or requirements of applicable tax,
securities and other laws), provided that the Shares underlying such Award shall continue to be subject to the Insider Trading Policy
to the extent applicable. The Committee may attach to such transferability feature such terms and conditions as it deems advisable. In
addition, a Participant may, in the manner established by the Committee, designate a beneficiary (which may be a person or a trust) to
exercise the rights of the Participant, and to receive any distribution, with respect to any Award upon the death of the Participant.
A beneficiary, guardian, legal representative or other person claiming any rights under the Plan from or through any Participant shall
be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise determined
by the Committee, and to any additional restrictions deemed necessary or appropriate by the Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
15.	</b><span style="text-decoration: underline">Withholding of Taxes</span>. No later than the date as of which an amount first becomes includible in the gross income of
the Participant for federal income tax purposes with respect to any Award under the Plan, the Participant will pay to the Company, or
make arrangements satisfactory to the Company regarding the payment of, any federal, state or local taxes of any kind required by law
to be withheld with respect to such amount. To the extent authorized by the Committee, the required tax withholding may be satisfied
by the withholding of Shares subject to the Award based on the fair market value of those Shares, as determined by the Company, but in
any case not in excess of the amount determined based on the maximum statutory tax rate in the applicable jurisdiction. The obligations
of the Company under the Plan will be conditioned on such payment or arrangements and the Company will have the right to deduct any such
taxes from any payment of any kind otherwise due to the Participant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
16.	</b><span style="text-decoration: underline">General Provisions</span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) The
Committee may require each Participant to represent to and agree with the Company in writing that the Participant is acquiring securities
of the Company for investment purposes and without a view to distribution thereof and as to such other matters as the Committee believes
are appropriate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) The
Awards, and any Shares subject thereto, will be subject to the Company&#8217;s stock ownership, securities trading, anti-hedging and
other similar policies as in effect from time to time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) All
Shares or other securities delivered under the Plan will be subject to such stop-transfer orders and other restrictions as the Board
may deem necessary to reflect the terms of the applicable Award or advisable to comply with the rules, regulations and other requirements
of the Securities Act, the Exchange Act, any stock exchange upon which the Shares are then listed, and any other Applicable Law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"></p>

<!-- Field: Page; Sequence: 64; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) Nothing
contained in the Plan will prevent the Company from adopting other or additional compensation arrangements, subject to stockholder approval
if such approval is required.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e) Neither
the adoption of the Plan nor the execution of any document in connection with the Plan will: (i)&#160;confer upon any employee or other
service provider of the Company or an Affiliate any right to continued employment or engagement with the Company or such Affiliate, or
(ii)&#160;interfere in any way with the right of the Company or such Affiliate to terminate the employment or engagement of any of its
employees or other service providers at any time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f) The
Awards (whether vested or unvested) shall be subject to rescission, cancellation or recoupment, in whole or in part, under any current
or future &#8220;clawback&#8221; or similar policy of the Company that is applicable to the Participant. Notwithstanding any other provisions
in this Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will
be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange
listing requirement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
17.	</b><span style="text-decoration: underline">Effectiveness of Plan</span>. The Plan became effective on October 26, 2023 (the &#8220;<span style="text-decoration: underline">Effective Date</span>&#8221;), the
date it was approved by the Board; and was approved by the stockholders of the Company at its annual meeting of stockholders on December
13, 2023 (the &#8220;<span style="text-decoration: underline">Approval Date</span>&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
18.	</b><span style="text-decoration: underline">Term of Plan</span>. Unless extended with the approval of the stockholders of the Company, the Plan shall terminate on the
10-year anniversary of the Effective Date, and no Awards shall thereafter be granted under the Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
19.	</b><span style="text-decoration: underline">Invalid Provisions</span>. In the event that any provision of this Plan is found to be invalid or otherwise unenforceable
under any Applicable Law, such invalidity or unenforceability will not be construed as rendering any other provisions contained herein
as invalid or unenforceable, and all such other provisions will be given full force and effect to the same extent as though the invalid
or unenforceable provision was not contained herein.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
20.	</b><span style="text-decoration: underline">Governing Law</span>. The Plan and all Awards granted hereunder will be governed by and construed in accordance with the laws
and judicial decisions of the State of Delaware, without regard to the application of the principles of conflicts of laws.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Section
21.	</b><span style="text-decoration: underline">Notices</span>. Any notice to be given to the Company pursuant to the provisions of this Plan must be given in writing and
addressed, if to the Company, to its principal executive office to the attention of its Chief Financial Officer (or such other Person
as the Company may designate in writing from time to time), and, if to a Participant, to the address contained in the Company&#8217;s
personnel files, or at such other address as that Participant may hereafter designate in writing to the Company. Any such notice will
be deemed duly given: if delivered personally or via recognized overnight delivery service, on the date and at the time so delivered;
if sent via telecopier or email, on the date and at the time telecopied or emailed with confirmation of delivery; or, if mailed, five
(5) days after the date of mailing by registered or certified mail.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 65; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ANNUAL
MEETING OF STOCKHOLDERS OF</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IDT
CORPORATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December
11, 2025</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Important
Notice Regarding the Availability of Proxy Materials for the IDT Corporation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Stockholders
Meeting to be Held on December 11, 2025</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Notice of Annual Meeting and Proxy Statement and the 2025 Annual Report are available at:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>www.idt.net/investors-and-media</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Please
date, sign and mail</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>your
proxy card in the</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>envelope
provided as soon</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>as
possible.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8595;
Please detach along perforated line and mail in the envelope provided. &#8595;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PLEASE
SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTES IN BLUE OR BLACK INK AS SHOWN HERE </b>&#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE
BOARD OF DIRECTORS RECOMMENDS VOTES<br/>
&#8220;FOR&#8221; THE LISTED NOMINEES, &#8220;FOR&#8221; PROPOSAL 2 AND FOR &#8220;THREE YEARS&#8221; ON PROPOSAL 3</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 19%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
    &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGAINST
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABSTAIN
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
    &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGAINST
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABSTAIN</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
    &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election
    of Directors:</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOMINEES:
    </b>&#160;</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    approve an amendment to the IDT Corporation 2024 Equity Incentive Plan that will increase the number of shares of the Company&#8217;s
    Class B Common Stock available for the grant of awards thereunder by an additional 175,000.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Eric
    F. Cosentino</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Howard
    S. Jonas</b> &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Irwin
    Katsof</b> &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Judah
    Schorr</b> &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Elaine
    S. Yatzkan</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td colspan="7" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    change the address on your account, please check the box at right and indicate your new address in the address space above. Please
    note that changes to the registered name(s) on the account may not be submitted via this method.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#9744;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MARK
    &#8220;X&#8221; HERE IF YOU PLAN TO ATTEND THE MEETING.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#9744;&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 34%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature
    of Stockholder</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 33%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature
    of Stockholder</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<!-- Field: Page; Sequence: 66; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 48px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note:</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
    sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor,
    administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate
    name by a duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by an authorized
    person.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electronic
Distribution</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you would like to receive future IDT CORPORATION proxy statements and annual reports electronically, please visit <span style="text-decoration: underline">www.amstock.com</span>.
Click on Shareholder Account Access to enroll. Please enter your account number and tax identification number to log in, then select
Receive Company Mailings via e-Mail and provide your e-mail address.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THIS
PROXY IS BEING SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IDT
CORPORATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>520
Broad Street, Newark, New Jersey 07102</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(973)
438-1000</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROXY
FOR ANNUAL MEETING OF STOCKHOLDERS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>To
Be Held December 11, 2025</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned appoints Howard S. Jonas and Joyce J. Mason, or either one of them, as the proxy of the undersigned with full power of substitution
to attend and vote at the Annual Meeting of Stockholders (the &#8220;Annual Meeting&#8221;) of IDT Corporation to be held at the Offices
of IDT Corporation, 520 Broad Street, Newark, New Jersey 07102 on December 11, 2025 at 11:00 a.m., and any adjournment or postponement
of the Annual Meeting, according to the number of votes the undersigned would be entitled to cast if personally present, for or against
any proposal, including the election of members of the Board of Directors, and any and all other business that may come before the Annual
Meeting, except as otherwise indicated on the reverse side of this card.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THIS
PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED STOCKHOLDER. IF NO SUCH DIRECTIONS ARE MADE, THIS PROXY WILL
BE VOTEED &#8220;FOR&#8221; THE LISTED NOMINEES AND &#8220;FOR&#8221; PROPOSAL 2 LISTED ON THE REVERSE SIDE.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONTINUED
AND TO BE SIGNED ON REVERSE SIDE</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<!-- Field: Page; Sequence: 67; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ANNUAL
MEETING OF STOCKHOLDERS OF</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IDT
CORPORATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December
11, 2025</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROXY
VOTING INSTRUCTIONS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 59%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INTERNET
    - </b>Access &#8220;<b>www.voteproxy.com</b>&#8221; and follow the on-screen instructions or scan the QR code with your smartphone.
    Have your proxy card available when you access the web page. Vote online until 11:59 PM EST the day before the meeting.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 40%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MAIL
    </b>- Date, sign and mail your proxy card in the envelope provided as soon as possible.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IN
    PERSON - </b>You may vote your shares in person by attending the Annual Meeting.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>COMPANY
    NUMBER _______________</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GO
    GREEN - </b>e-Consent makes it easy to go paperless. With e-Consent, you can quickly access your proxy material, statements and other
    eligible documents online, while reducing costs, clutter and paper waste. Enroll today via www.amstock.com to enjoy online access.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ACCOUNT
    NUMBER _______________</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8595;
<b>Please detach along perforated line and mail in the envelope provided you are not voting via the Internet. &#8595;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PLEASE
SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTES IN BLUE OR BLACK INK AS SHOWN HERE &#9746;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE
BOARD OF DIRECTORS RECOMMENDS VOTES<br/>
&#8220;FOR&#8221; THE LISTED NOMINEES AND &#8220;FOR&#8221; PROPOSAL 2 </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 19%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
    &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGAINST
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABSTAIN
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
    &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGAINST
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABSTAIN</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
    &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election
    of Directors:</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOMINEES:
    </b>&#160;</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    approve an amendment to the IDT Corporation 2024 Equity Incentive Plan that will increase the number of shares of the Company&#8217;s
    Class B Common Stock available for the grant of awards thereunder by an additional 175,000.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Eric
    F. Cosentino</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Howard
    S. Jonas</b> &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Irwin
    Katsof</b> &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Judah
    Schorr</b> &#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Elaine
    S. Yatzkan</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td colspan="8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
    change the address on your account, please check the box at right and indicate your new address in the address space above. Please
    note that changes to the registered name(s) on the account may not be submitted via this method.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#9744;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MARK
    &#8220;X&#8221; HERE IF YOU PLAN TO ATTEND THE MEETING.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 34%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature
    of Stockholder</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%; padding-bottom: 2.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%; padding-bottom: 2.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 33%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature
    of Stockholder</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%; padding-bottom: 2.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 48px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note:</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
    sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor,
    administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate
    name by a duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by an authorized
    person.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<!-- Field: Page; Sequence: 68; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></td><td style="width: 33%">&#160;</td></tr></table></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- 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 -->
<!-- Field: Set; Name: xdx; ID: xdx_088_labels -->
<!-- eJwdzLEOgkAMgOHdxHdobjaU6Mams8MNbMShd1eVWCkpFw7fXmD//t9dU+pzrwMJ3CmwTO7k3jmPDWIppVqCSaX2wnNdX9BUGGVj7nhwHFPj57GlINzykm+i8bPmnn4wT+DZnmpfGiJDtyPYFOzssQ7+OCopiQ== -->
</body>
</html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>formdef14-a_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 formdef14-a_001.jpg
M_]C_X  02D9)1@ ! 0$ 9 !D  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  O ((# 2(  A$! Q$!_\0
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M+JNI:[XDU"QRNHP:%+X16588HT7]>_V"_%OPX^$_Q%^.]K\!OV)OBO\ !O\
M9X^(=UX.U+X*:IX.^&D5IX)\>Z/X9TG48=>\9LDFIOJ_ADZY-J-J^DZ'K&GV
M+WP@$BP0SR7- 'Z8_!G]I;X+?M#?#^Y^(GPG^)6B>(- T*]O+'Q>UU='0M6\
M :CIL4T]_IWC_0=4%GJ?@V[M;6V>62V\0VEBS0M;W41DM9TN*B^'/[5O[.7Q
MI\9:]\./A5\9/"GC3QGX<LSJ>JZ!HNH3N]SITTI@;5]"U":UBT_Q1HEI>![&
M^U?PQ=:SI^G7JR07]Q;-')L_!_\ ::_9F_;"_;&_:#E_:(^%O[,UW\,_V8==
MTS1O G[1O[-GBOQEI/P?^-G[=7A[0_$46MZ'KGB*^2.;2? NG>#-3MM.$\7B
M.2\UKQ/X;AOM'-U)97Z6B?0W[37_  3K_:>^.&A?"GX@?"WQ3X*_9J^-.D>/
MO#/A&;2O <ZG1/@E^QQ?V"Z+\4OA/X$;[-8:1K/BGQ;IKZK<:OJ5O#I-C+J&
ML-+I_P!G%K:S( ?HK\%?V\O@+\?_ (]?$S]G/X7:SXA\0^._A9X>T[Q)K&LS
M>'KRQ\!Z]I%YJEUHU[=>#?$\BFQUV/2=6M)=-OKBU+6_VJ2,0231EF3[-:]@
MAA:ZGF2WLXW9&GGN$@2 J0@1Y9,QL';/\64*A'()(K\9H_V/?VMO@'^TY\2/
M'/[$FE?LOZ'\-?B5\#_@K\'=%OOB[JOC>6[^#FC?!J#Q':Q0Z+X2\*6-T/%5
MWK9UU?$%RUSJUA9:AJT8EU.\9G:4?17P\_89NI_$_A3XH?M<?'#XC?M5?%?0
M@M[ILK03?#3X.>%-21H6CN/"7P<\+ZM-9VJQN9(UU'7-6UB6X6-9+F%9IAY0
M!^C8:1P'C^SO&X#1N'+!T;E6#*I5@RD$%25(.02.:*J+;)M&)H,8&-Q<-T_B
M 8#=ZX YHH ^)_VN/V7KK]H;1?"?C;X:>+H_A;^TO\%=6O/$7P"^,]I'*)M!
MU&[CB;Q%X)\9I#B;5?A?XY2TM]%\5>#YC<6TT46G:FMM-=V%JT7C'AW_ (*(
M>+?AC'+X1_;=_9N^,OP,\;Z#:0_VO\0/AOX/UKXS_ CQG-&A\[6/!GBOP/::
MUK^FZ7<JL=TUCXCT+3;O3\SVE[.&M'D;]4Q;0J&58T56" JJ*!B/[HQC! ]"
M"!221K(ACEBCDC.[='(JRHR%2I!5\@#!VE0,%688P: /R-^(7[=7Q;^/>G:1
M\/?^">7PR\6^.?&7CF9;;5?VB/BIX.USX=_ WX&>&#-"NK>,M0L_&$.F:WX^
MUZULOM+>&?#7AS3KK3M5UFWC@U'4;"R:9I?M_P" 'P3T_P"!GA";24\1:SX^
M\8^*=1?Q#\2?B1XA@@_X2OXG>++B'[)<:[JD$*K!8VD:_NK&Q5GCT[38[:SM
M6\B*//TA!:P0(L<5O!#&@,:QPPQQQJIR6C5450$R 1A0<YSU-2)#& =L:*>A
MP/ER .P/0'@=\?6@#/5(Y)4><*1MD,R$%H',:HRR[&SD*R;X3("RKRN, U^5
M?_!*V$>(=&_;9^.UY=_VAJ7QN_;T_:(N[:9ERR^$OA[XEC^'7@;3EF8/-(MK
MHNBHMO$[/%;K($@6.,,!^HOB"].F:-K^HR'Y-/T34]0CP 69[&RO)I"0 00
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!V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>formdef14-a_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 formdef14-a_002.jpg
M_]C_X  02D9)1@ ! 0$ > !X  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1"  Y )X# 2(  A$! Q$!_\0
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MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#]4ZB<88G
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MP4 _6N5_:E_:(\1H8?!'P\%M:7NL78TN?7[T_NXP1^^:$=&*+R6/ KA/@?\
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MHGQCS?)7=CTSC-6_)3:%VC X'M3Z* &A !P*9GYVR< 8.?6I:@N?N-_NG^5
M'RY^PYJEQK]S\8=0FMI4:3QA=)'</]V:-25 'L.E?44<"%C_ !A>F3R/:OGS
M]B/_ ))AX@_[&K5/_1[5]"P??F_WOZ4 2A0#G'-+110 4TH"<XYIU% '!?$G
MX)>$?BI]CDU[33+=V086]W!(T<T8;J RD'%:?@#X?:1\.-*_L_2%N5@)Y-U.
DTK$_5B373R_<-03?ZVV^O]* +5%%% !1110 4F!Z4M% '__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>4
<FILENAME>idt-20250731.xsd
<DESCRIPTION>XBRL SCHEMA FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.2b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: 96Mps7xRiXgen8uDanwsWaWEabP9z5Z8eekhvWB6bTlabywvomRx9C3T2PtW4X8F -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2025" xmlns:us-gaap="http://fasb.org/us-gaap/2025" xmlns:srt="http://fasb.org/srt/2025" xmlns:srt-types="http://fasb.org/srt-types/2025" xmlns:ecd="http://xbrl.sec.gov/ecd/2025" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:IDT="http://idt.net/20250731" elementFormDefault="qualified" targetNamespace="http://idt.net/20250731">
    <annotation>
      <appinfo>
        <link:roleType roleURI="http://idt.net/role/Cover" id="Cover">
          <link:definition>00000001 - Document - Cover</link:definition>
          <link:usedOn>link:presentationLink</link:usedOn>
          <link:usedOn>link:calculationLink</link:usedOn>
          <link:usedOn>link:definitionLink</link:usedOn>
        </link:roleType>
        <link:linkbaseRef xlink:type="simple" xlink:href="idt-20250731_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
        <link:linkbaseRef xlink:type="simple" xlink:href="idt-20250731_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
        <link:linkbaseRef xlink:type="simple" xlink:href="idt-20250731_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2025" schemaLocation="https://xbrl.sec.gov/dei/2025/dei-2025.xsd" />
    <import namespace="http://fasb.org/us-gaap/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd" />
    <import namespace="http://fasb.org/us-types/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-types-2025.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" />
    <import namespace="http://xbrl.sec.gov/ecd/2025" schemaLocation="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2025" schemaLocation="https://xbrl.sec.gov/country/2025/country-2025.xsd" />
    <import namespace="http://fasb.org/srt/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd" />
    <import namespace="http://fasb.org/srt-types/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-types-2025.xsd" />
    <element id="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" name="IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" name="AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_OutstandingEquityAwardsMember" name="OutstandingEquityAwardsMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" name="IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" name="AggregateAmountEquityAwardsAwardedInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" name="IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" name="AggregateAmountEquityAwardsVestedInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_OutstandingAndUnvestedEquityAwardsMember" name="OutstandingAndUnvestedEquityAwardsMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" name="DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" name="AggregateAmountEquityAwardsGrantInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" name="IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" name="AggregateAmountEquityAwardsUnvestedInCurrentYearMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" name="IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" name="DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" name="IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" name="AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" name="DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" name="AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_NumberOfRestrictedSharesGranted" name="NumberOfRestrictedSharesGranted" nillable="true" xbrli:periodType="duration" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_OutstandingCommonStockPercentage" name="OutstandingCommonStockPercentage" nillable="true" xbrli:periodType="duration" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_CommonStockClosingPrice" name="CommonStockClosingPrice" nillable="true" xbrli:periodType="instant" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" />
    <element id="IDT_AverageCompensationHigherThanTotalAmountMember" name="AverageCompensationHigherThanTotalAmountMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>5
<FILENAME>idt-20250731_def.xml
<DESCRIPTION>XBRL DEFINITION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.2b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="idt-20250731.xsd#Cover" roleURI="http://idt.net/role/Cover" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpDisclosureWithAdditionalMeasures" roleURI="http://xbrl.sec.gov/ecd/role/PvpDisclosureWithAdditionalMeasures" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpTable" roleURI="http://xbrl.sec.gov/ecd/role/PvpTable" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpAdjustmentsToCompensation" roleURI="http://xbrl.sec.gov/ecd/role/PvpAdjustmentsToCompensation" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#TabularListsByExecutiveCategory" roleURI="http://xbrl.sec.gov/ecd/role/TabularListsByExecutiveCategory" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#TabularListMeasures" roleURI="http://xbrl.sec.gov/ecd/role/TabularListMeasures" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpMeasures" roleURI="http://xbrl.sec.gov/ecd/role/PvpMeasures" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpExecutiveCategoriesOnly" roleURI="http://xbrl.sec.gov/ecd/role/PvpExecutiveCategoriesOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpAdjustmentsOnly" roleURI="http://xbrl.sec.gov/ecd/role/PvpAdjustmentsOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#IndividualsOnly" roleURI="http://xbrl.sec.gov/ecd/role/IndividualsOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#AwardTypeOnly" roleURI="http://xbrl.sec.gov/ecd/AwardTypeOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#TradingArrangmentsOnly" roleURI="http://xbrl.sec.gov/ecd/role/TradingArrangementsOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ForgoneRecoveries" roleURI="http://xbrl.sec.gov/ecd/role/ForgoneRecoveries" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#OutstandingRecoveries" roleURI="http://xbrl.sec.gov/ecd/role/OutstandingRecoveries" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#AwardsCloseToMnpiDisc" roleURI="http://xbrl.sec.gov/ecd/role/AwardsCloseToMnpiDisc" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#InsiderTradingArrangemenstByInd" roleURI="http://xbrl.sec.gov/ecd/role/InsiderTradingArrangementsByInd" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#Defaults" roleURI="http://xbrl.sec.gov/ecd/role/Defaults" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
    <link:definitionLink xlink:type="extended" xlink:role="http://idt.net/role/Cover" xlink:title="00000001 - Document - Cover" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/PvpExecutiveCategoriesOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/PvpAdjustmentsOnly">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllAdjToCompMember" xlink:label="loc_ecdAllAdjToCompMember" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsDidNotVestInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingEquityAwardsMember" xlink:label="loc_IDTOutstandingEquityAwardsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTOutstandingEquityAwardsMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsAwardedInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:type="arc" order="40" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:type="arc" order="50" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsVestedInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:type="arc" order="60" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingAndUnvestedEquityAwardsMember" xlink:label="loc_IDTOutstandingAndUnvestedEquityAwardsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTOutstandingAndUnvestedEquityAwardsMember" xlink:type="arc" order="70" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:label="loc_IDTDecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTDecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:type="arc" order="80" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsGrantInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:type="arc" order="90" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:type="arc" order="100" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsUnvestedInCurrentYearMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:type="arc" order="110" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:label="loc_IDTIncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:type="arc" order="120" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:label="loc_IDTDecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTDecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:type="arc" order="130" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:label="loc_IDTIncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:type="arc" order="140" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:label="loc_IDTAggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:type="arc" order="150" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:label="loc_IDTDecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTDecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:type="arc" order="160" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:label="loc_IDTAggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:type="arc" order="170" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/IndividualsOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/AwardTypeOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/TradingArrangementsOnly" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>idt-20250731_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.2b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ExecutiveCategoryAxis" xlink:label="ecd_ExecutiveCategoryAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ExecutiveCategoryAxis" xlink:to="ecd_ExecutiveCategoryAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ExecutiveCategoryAxis_lbl" xml:lang="en-US">Executive Category [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoMember" xlink:label="ecd_NonPeoNeoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NonPeoNeoMember" xlink:to="ecd_NonPeoNeoMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NonPeoNeoMember_lbl" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAxis" xlink:label="ecd_AdjToCompAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AdjToCompAxis" xlink:to="ecd_AdjToCompAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AdjToCompAxis_lbl" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_lbl" xml:lang="en-US">Increase in Average Amount Equity Awards did not Vest in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:label="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_lbl" xml:lang="en-US">Aggregate Amount Equity Awards did not Vest in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingEquityAwardsMember" xlink:label="IDT_OutstandingEquityAwardsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_OutstandingEquityAwardsMember" xlink:to="IDT_OutstandingEquityAwardsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_OutstandingEquityAwardsMember_lbl" xml:lang="en-US">Outstanding Equity Awards [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_lbl" xml:lang="en-US">Increase in Average Amount Equity Awards Awarded in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:label="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember_lbl" xml:lang="en-US">Aggregate Amount Equity Awards Awarded in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_lbl" xml:lang="en-US">Increase in Average Amount Equity Awards Vested in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:label="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember_lbl" xml:lang="en-US">Aggregate Amount Equity Awards Vested in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingAndUnvestedEquityAwardsMember" xlink:label="IDT_OutstandingAndUnvestedEquityAwardsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_OutstandingAndUnvestedEquityAwardsMember" xlink:to="IDT_OutstandingAndUnvestedEquityAwardsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_OutstandingAndUnvestedEquityAwardsMember_lbl" xml:lang="en-US">Outstanding and Unvested Equity Awards [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:label="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:to="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_lbl" xml:lang="en-US">Decrease in Average Amount Equity Awards Grant in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:label="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember_lbl" xml:lang="en-US">Aggregate Amount Equity Awards Grant in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_lbl" xml:lang="en-US">Increase in Average Amount Equity Awards Unvested in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:label="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember_lbl" xml:lang="en-US">Aggregate Amount Equity Awards Unvested in Current Year [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoMember" xlink:label="ecd_PeoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PeoMember" xlink:to="ecd_PeoMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PeoMember_lbl" xml:lang="en-US">PEO [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:label="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:to="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_lbl" xml:lang="en-US">Increase in Amount Related to Fair Market Value Awards for Services [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:label="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:to="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_lbl" xml:lang="en-US">Decrease in Amount Related to Fair Market Value Awards for Services [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:label="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:to="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_lbl" xml:lang="en-US">Increase in Average Amount of Equity Awards Vested upon Grant based upon Closing Price of ClassB Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:label="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:to="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_lbl" xml:lang="en-US">Aggregate Amount of Equity Awards Vested upon Grant based upon Closing Price of Class B Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:label="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:to="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_lbl" xml:lang="en-US">Decrease in Average Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:label="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:to="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_lbl" xml:lang="en-US">Aggregate Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTable" xlink:label="ecd_PvpTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PvpTable" xlink:to="ecd_PvpTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PvpTable_lbl" xml:lang="en-US">Pay vs Performance Disclosure [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTableTextBlock" xlink:label="ecd_PvpTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PvpTableTextBlock" xlink:to="ecd_PvpTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PvpTableTextBlock_lbl" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureName" xlink:label="ecd_CoSelectedMeasureName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_CoSelectedMeasureName" xlink:to="ecd_CoSelectedMeasureName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_CoSelectedMeasureName_lbl" xml:lang="en-US">Company Selected Measure Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NamedExecutiveOfficersFnTextBlock" xlink:label="ecd_NamedExecutiveOfficersFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="ecd_NamedExecutiveOfficersFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NamedExecutiveOfficersFnTextBlock_lbl" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupIssuersFnTextBlock" xlink:label="ecd_PeerGroupIssuersFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PeerGroupIssuersFnTextBlock" xlink:to="ecd_PeerGroupIssuersFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PeerGroupIssuersFnTextBlock_lbl" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChangedPeerGroupFnTextBlock" xlink:label="ecd_ChangedPeerGroupFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ChangedPeerGroupFnTextBlock" xlink:to="ecd_ChangedPeerGroupFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ChangedPeerGroupFnTextBlock_lbl" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoTotalCompAmt" xlink:label="ecd_PeoTotalCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PeoTotalCompAmt" xlink:to="ecd_PeoTotalCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PeoTotalCompAmt_lbl" xml:lang="en-US">PEO Total Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoActuallyPaidCompAmt" xlink:label="ecd_PeoActuallyPaidCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PeoActuallyPaidCompAmt" xlink:to="ecd_PeoActuallyPaidCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PeoActuallyPaidCompAmt_lbl" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToPeoCompFnTextBlock" xlink:label="ecd_AdjToPeoCompFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AdjToPeoCompFnTextBlock" xlink:to="ecd_AdjToPeoCompFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AdjToPeoCompFnTextBlock_lbl" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgTotalCompAmt" xlink:label="ecd_NonPeoNeoAvgTotalCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NonPeoNeoAvgTotalCompAmt" xlink:to="ecd_NonPeoNeoAvgTotalCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NonPeoNeoAvgTotalCompAmt_lbl" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:label="ecd_NonPeoNeoAvgCompActuallyPaidAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="ecd_NonPeoNeoAvgCompActuallyPaidAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NonPeoNeoAvgCompActuallyPaidAmt_lbl" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:label="ecd_AdjToNonPeoNeoCompFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:to="ecd_AdjToNonPeoNeoCompFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AdjToNonPeoNeoCompFnTextBlock_lbl" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:label="ecd_EquityValuationAssumptionDifferenceFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="ecd_EquityValuationAssumptionDifferenceFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_EquityValuationAssumptionDifferenceFnTextBlock_lbl" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote [Text Block]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:label="ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:to="ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_lbl" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:label="ecd_CompActuallyPaidVsNetIncomeTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:to="ecd_CompActuallyPaidVsNetIncomeTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_CompActuallyPaidVsNetIncomeTextBlock_lbl" xml:lang="en-US">Compensation Actually Paid vs. Net Income</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:label="ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:to="ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_lbl" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:label="ecd_TotalShareholderRtnVsPeerGroupTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:to="ecd_TotalShareholderRtnVsPeerGroupTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TotalShareholderRtnVsPeerGroupTextBlock_lbl" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:label="ecd_CompActuallyPaidVsOtherMeasureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="ecd_CompActuallyPaidVsOtherMeasureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_CompActuallyPaidVsOtherMeasureTextBlock_lbl" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TabularListTableTextBlock" xlink:label="ecd_TabularListTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TabularListTableTextBlock" xlink:to="ecd_TabularListTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TabularListTableTextBlock_lbl" xml:lang="en-US">Tabular List, Table</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnAmt" xlink:label="ecd_TotalShareholderRtnAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TotalShareholderRtnAmt" xlink:to="ecd_TotalShareholderRtnAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TotalShareholderRtnAmt_lbl" xml:lang="en-US">Total Shareholder Return Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupTotalShareholderRtnAmt" xlink:label="ecd_PeerGroupTotalShareholderRtnAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="ecd_PeerGroupTotalShareholderRtnAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PeerGroupTotalShareholderRtnAmt_lbl" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureAmt" xlink:label="ecd_CoSelectedMeasureAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_CoSelectedMeasureAmt" xlink:to="ecd_CoSelectedMeasureAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_CoSelectedMeasureAmt_lbl" xml:lang="en-US">Company Selected Measure Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OtherPerfMeasureAmt" xlink:label="ecd_OtherPerfMeasureAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_OtherPerfMeasureAmt" xlink:to="ecd_OtherPerfMeasureAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_OtherPerfMeasureAmt_lbl" xml:lang="en-US">Other Performance Measure, Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAmt" xlink:label="ecd_AdjToCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AdjToCompAmt" xlink:to="ecd_AdjToCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AdjToCompAmt_lbl" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_NumberOfRestrictedSharesGranted" xlink:label="IDT_NumberOfRestrictedSharesGranted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_NumberOfRestrictedSharesGranted" xlink:to="IDT_NumberOfRestrictedSharesGranted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_NumberOfRestrictedSharesGranted_lbl" xml:lang="en-US">Number of restricted shares grant</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingCommonStockPercentage" xlink:label="IDT_OutstandingCommonStockPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_OutstandingCommonStockPercentage" xlink:to="IDT_OutstandingCommonStockPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_OutstandingCommonStockPercentage_lbl" xml:lang="en-US">Outstanding common stock percentage</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_CommonStockClosingPrice" xlink:label="IDT_CommonStockClosingPrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_CommonStockClosingPrice" xlink:to="IDT_CommonStockClosingPrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IDT_CommonStockClosingPrice_lbl" xml:lang="en-US">Common stock closing price</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoName" xlink:label="ecd_PeoName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PeoName" xlink:to="ecd_PeoName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PeoName_lbl" xml:lang="en-US">PEO Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MeasureName" xlink:label="ecd_MeasureName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_MeasureName" xlink:to="ecd_MeasureName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_MeasureName_lbl" xml:lang="en-US">Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonGaapMeasureDescriptionTextBlock" xlink:label="ecd_NonGaapMeasureDescriptionTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="ecd_NonGaapMeasureDescriptionTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NonGaapMeasureDescriptionTextBlock_lbl" xml:lang="en-US">Non-GAAP Measure Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Additional402vDisclosureTextBlock" xlink:label="ecd_Additional402vDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_Additional402vDisclosureTextBlock" xlink:to="ecd_Additional402vDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_Additional402vDisclosureTextBlock_lbl" xml:lang="en-US">Additional 402(v) Disclosure [Text Block]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnBnftsAdjFnTextBlock" xlink:label="ecd_PnsnBnftsAdjFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_PnsnBnftsAdjFnTextBlock" xlink:to="ecd_PnsnBnftsAdjFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_PnsnBnftsAdjFnTextBlock_lbl" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjFnTextBlock" xlink:label="ecd_EqtyAwrdsAdjFnTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_EqtyAwrdsAdjFnTextBlock" xlink:to="ecd_EqtyAwrdsAdjFnTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_EqtyAwrdsAdjFnTextBlock_lbl" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ErrCompRecoveryTable" xlink:label="ecd_ErrCompRecoveryTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ErrCompRecoveryTable" xlink:to="ecd_ErrCompRecoveryTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ErrCompRecoveryTable_lbl" xml:lang="en-US">Erroneously Awarded Compensation Recovery [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDateAxis" xlink:label="ecd_RestatementDateAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_RestatementDateAxis" xlink:to="ecd_RestatementDateAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_RestatementDateAxis_lbl" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_IndividualAxis" xlink:label="ecd_IndividualAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_IndividualAxis" xlink:to="ecd_IndividualAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_IndividualAxis_lbl" xml:lang="en-US">Individual [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDeterminationDate" xlink:label="ecd_RestatementDeterminationDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_RestatementDeterminationDate" xlink:to="ecd_RestatementDeterminationDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_RestatementDeterminationDate_lbl" xml:lang="en-US">Restatement Determination Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompAmt" xlink:label="ecd_AggtErrCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AggtErrCompAmt" xlink:to="ecd_AggtErrCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AggtErrCompAmt_lbl" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ErrCompAnalysisTextBlock" xlink:label="ecd_ErrCompAnalysisTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ErrCompAnalysisTextBlock" xlink:to="ecd_ErrCompAnalysisTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ErrCompAnalysisTextBlock_lbl" xml:lang="en-US">Erroneous Compensation Analysis</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:label="ecd_StkPrcOrTsrEstimationMethodTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:to="ecd_StkPrcOrTsrEstimationMethodTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_StkPrcOrTsrEstimationMethodTextBlock_lbl" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingAggtErrCompAmt" xlink:label="ecd_OutstandingAggtErrCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_OutstandingAggtErrCompAmt" xlink:to="ecd_OutstandingAggtErrCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_OutstandingAggtErrCompAmt_lbl" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:label="ecd_AggtErrCompNotYetDeterminedTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:to="ecd_AggtErrCompNotYetDeterminedTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AggtErrCompNotYetDeterminedTextBlock_lbl" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryIndName" xlink:label="ecd_ForgoneRecoveryIndName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ForgoneRecoveryIndName" xlink:to="ecd_ForgoneRecoveryIndName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ecd_ForgoneRecoveryIndName_lbl" xml:lang="en-US">Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:label="ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_lbl" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:label="ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:to="ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_lbl" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:label="ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_lbl" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:label="ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_lbl" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryIndName" xlink:label="ecd_OutstandingRecoveryIndName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_OutstandingRecoveryIndName" xlink:to="ecd_OutstandingRecoveryIndName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ecd_OutstandingRecoveryIndName_lbl" xml:lang="en-US">Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryCompAmt" xlink:label="ecd_OutstandingRecoveryCompAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_OutstandingRecoveryCompAmt" xlink:to="ecd_OutstandingRecoveryCompAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_OutstandingRecoveryCompAmt_lbl" xml:lang="en-US">Compensation Amount</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:label="ecd_RestatementDoesNotRequireRecoveryTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="ecd_RestatementDoesNotRequireRecoveryTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_RestatementDoesNotRequireRecoveryTextBlock_lbl" xml:lang="en-US">Restatement does not require Recovery</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgDiscLineItems" xlink:label="ecd_AwardTmgDiscLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardTmgDiscLineItems" xlink:to="ecd_AwardTmgDiscLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardTmgDiscLineItems_lbl" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiDiscTextBlock" xlink:label="ecd_AwardTmgMnpiDiscTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardTmgMnpiDiscTextBlock" xlink:to="ecd_AwardTmgMnpiDiscTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardTmgMnpiDiscTextBlock_lbl" xml:lang="en-US">Award Timing MNPI Disclosure [Text Block]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMethodTextBlock" xlink:label="ecd_AwardTmgMethodTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardTmgMethodTextBlock" xlink:to="ecd_AwardTmgMethodTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardTmgMethodTextBlock_lbl" xml:lang="en-US">Award Timing Method</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgPredtrmndFlag" xlink:label="ecd_AwardTmgPredtrmndFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardTmgPredtrmndFlag" xlink:to="ecd_AwardTmgPredtrmndFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardTmgPredtrmndFlag_lbl" xml:lang="en-US">Award Timing Predetermined</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiCnsdrdFlag" xlink:label="ecd_AwardTmgMnpiCnsdrdFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="ecd_AwardTmgMnpiCnsdrdFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardTmgMnpiCnsdrdFlag_lbl" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:label="ecd_AwardTmgHowMnpiCnsdrdTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="ecd_AwardTmgHowMnpiCnsdrdTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardTmgHowMnpiCnsdrdTextBlock_lbl" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MnpiDiscTimedForCompValFlag" xlink:label="ecd_MnpiDiscTimedForCompValFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_MnpiDiscTimedForCompValFlag" xlink:to="ecd_MnpiDiscTimedForCompValFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_MnpiDiscTimedForCompValFlag_lbl" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:label="ecd_AwardsCloseToMnpiDiscTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:to="ecd_AwardsCloseToMnpiDiscTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardsCloseToMnpiDiscTableTextBlock_lbl" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscIndName" xlink:label="ecd_AwardsCloseToMnpiDiscIndName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardsCloseToMnpiDiscIndName" xlink:to="ecd_AwardsCloseToMnpiDiscIndName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ecd_AwardsCloseToMnpiDiscIndName_lbl" xml:lang="en-US">Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardUndrlygSecuritiesAmt" xlink:label="ecd_AwardUndrlygSecuritiesAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardUndrlygSecuritiesAmt" xlink:to="ecd_AwardUndrlygSecuritiesAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardUndrlygSecuritiesAmt_lbl" xml:lang="en-US">Underlying Securities</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardExrcPrice" xlink:label="ecd_AwardExrcPrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardExrcPrice" xlink:to="ecd_AwardExrcPrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardExrcPrice_lbl" xml:lang="en-US">Exercise Price</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardGrantDateFairValue" xlink:label="ecd_AwardGrantDateFairValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardGrantDateFairValue" xlink:to="ecd_AwardGrantDateFairValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardGrantDateFairValue_lbl" xml:lang="en-US">Fair Value as of Grant Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_UndrlygSecurityMktPriceChngPct" xlink:label="ecd_UndrlygSecurityMktPriceChngPct" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_UndrlygSecurityMktPriceChngPct" xlink:to="ecd_UndrlygSecurityMktPriceChngPct_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_UndrlygSecurityMktPriceChngPct_lbl" xml:lang="en-US">Underlying Security Market Price Change</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrByIndTable" xlink:label="ecd_TradingArrByIndTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TradingArrByIndTable" xlink:to="ecd_TradingArrByIndTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TradingArrByIndTable_lbl" xml:lang="en-US">Trading Arrangements, by Individual [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrAxis" xlink:label="ecd_TradingArrAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TradingArrAxis" xlink:to="ecd_TradingArrAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TradingArrAxis_lbl" xml:lang="en-US">Trading Arrangement [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MtrlTermsOfTrdArrTextBlock" xlink:label="ecd_MtrlTermsOfTrdArrTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="ecd_MtrlTermsOfTrdArrTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_MtrlTermsOfTrdArrTextBlock_lbl" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndName" xlink:label="ecd_TrdArrIndName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrIndName" xlink:to="ecd_TrdArrIndName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ecd_TrdArrIndName_lbl" xml:lang="en-US">Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndTitle" xlink:label="ecd_TrdArrIndTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrIndTitle" xlink:to="ecd_TrdArrIndTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrIndTitle_lbl" xml:lang="en-US">Title</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Rule10b51ArrAdoptedFlag" xlink:label="ecd_Rule10b51ArrAdoptedFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_Rule10b51ArrAdoptedFlag" xlink:to="ecd_Rule10b51ArrAdoptedFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_Rule10b51ArrAdoptedFlag_lbl" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrAdoptedFlag" xlink:label="ecd_NonRule10b51ArrAdoptedFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NonRule10b51ArrAdoptedFlag" xlink:to="ecd_NonRule10b51ArrAdoptedFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NonRule10b51ArrAdoptedFlag_lbl" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrAdoptionDate" xlink:label="ecd_TrdArrAdoptionDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrAdoptionDate" xlink:to="ecd_TrdArrAdoptionDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrAdoptionDate_lbl" xml:lang="en-US">Adoption Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Rule10b51ArrTrmntdFlag" xlink:label="ecd_Rule10b51ArrTrmntdFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_Rule10b51ArrTrmntdFlag" xlink:to="ecd_Rule10b51ArrTrmntdFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_Rule10b51ArrTrmntdFlag_lbl" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrTrmntdFlag" xlink:label="ecd_NonRule10b51ArrTrmntdFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_NonRule10b51ArrTrmntdFlag" xlink:to="ecd_NonRule10b51ArrTrmntdFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_NonRule10b51ArrTrmntdFlag_lbl" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrTerminationDate" xlink:label="ecd_TrdArrTerminationDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrTerminationDate" xlink:to="ecd_TrdArrTerminationDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrTerminationDate_lbl" xml:lang="en-US">Termination Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrExpirationDate" xlink:label="ecd_TrdArrExpirationDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrExpirationDate" xlink:to="ecd_TrdArrExpirationDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrExpirationDate_lbl" xml:lang="en-US">Expiration Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrDuration" xlink:label="ecd_TrdArrDuration" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrDuration" xlink:to="ecd_TrdArrDuration_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrDuration_lbl" xml:lang="en-US">Arrangement Duration</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrSecuritiesAggAvailAmt" xlink:label="ecd_TrdArrSecuritiesAggAvailAmt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="ecd_TrdArrSecuritiesAggAvailAmt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrSecuritiesAggAvailAmt_lbl" xml:lang="en-US">Aggregate Available</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingPoliciesProcLineItems" xlink:label="ecd_InsiderTradingPoliciesProcLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_InsiderTradingPoliciesProcLineItems" xlink:to="ecd_InsiderTradingPoliciesProcLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_InsiderTradingPoliciesProcLineItems_lbl" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:label="ecd_InsiderTrdPoliciesProcAdoptedFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:to="ecd_InsiderTrdPoliciesProcAdoptedFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_InsiderTrdPoliciesProcAdoptedFlag_lbl" xml:lang="en-US">Insider Trading Policies and Procedures Adopted</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:label="ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:to="ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_lbl" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_doc" xml:lang="en-US">Increase in Average Amount Equity Awards did not Vest in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_doc" xml:lang="en-US">Aggregate Amount Equity Awards did not Vest in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_CommonStockClosingPrice" xlink:to="IDT_CommonStockClosingPrice_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_CommonStockClosingPrice_doc" xml:lang="en-US">Common stock closing price.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_OutstandingEquityAwardsMember" xlink:to="IDT_OutstandingEquityAwardsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_OutstandingEquityAwardsMember_doc" xml:lang="en-US">Outstanding Equity Awards [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_doc" xml:lang="en-US">Increase in Average Amount Equity Awards Awarded in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember_doc" xml:lang="en-US">Aggregate Amount Equity Awards Awarded in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_doc" xml:lang="en-US">Increase in Average Amount Equity Awards Unvested in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember_doc" xml:lang="en-US">Aggregate Amount Equity Awards Unvested in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_OutstandingAndUnvestedEquityAwardsMember" xlink:to="IDT_OutstandingAndUnvestedEquityAwardsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_OutstandingAndUnvestedEquityAwardsMember_doc" xml:lang="en-US">Outstanding and Unvested Equity Awards [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:to="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_doc" xml:lang="en-US">Increase in Average Amount Equity Awards Vested in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember_doc" xml:lang="en-US">Aggregate Amount Equity Awards Vested in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:to="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_doc" xml:lang="en-US">Decrease in Average Amount Equity Awards Grant in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:to="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember_doc" xml:lang="en-US">Aggregate Amount Equity Awards Grant in Current Year [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:to="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_doc" xml:lang="en-US">Increase in Amount Related to Fair Market Value Awards for Services [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:to="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_doc" xml:lang="en-US">Decrease in Amount Related to Fair Market Value Awards for Services [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AverageCompensationHigherThanTotalAmountMember" xlink:label="IDT_AverageCompensationHigherThanTotalAmountMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AverageCompensationHigherThanTotalAmountMember" xlink:to="IDT_AverageCompensationHigherThanTotalAmountMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AverageCompensationHigherThanTotalAmountMember_doc" xml:lang="en-US">Average Compensation Higher than Total Amount [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:to="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_doc" xml:lang="en-US">Increase in Average Amount of Equity Awards Vested upon Grant based upon Closing Price of ClassB Common Stock [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:to="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_doc" xml:lang="en-US">Aggregate Amount of Equity Awards Vested upon Grant based upon Closing Price of Class B Common Stock [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:to="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_doc" xml:lang="en-US">Decrease in Average Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:to="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_doc" xml:lang="en-US">Aggregate Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_NumberOfRestrictedSharesGranted" xlink:to="IDT_NumberOfRestrictedSharesGranted_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_NumberOfRestrictedSharesGranted_doc" xml:lang="en-US">Number of restricted shares granted.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IDT_OutstandingCommonStockPercentage" xlink:to="IDT_OutstandingCommonStockPercentage_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="IDT_OutstandingCommonStockPercentage_doc" xml:lang="en-US">Outstanding common stock percentage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_ForgoneRecoveryIndName" xlink:to="ecd_ForgoneRecoveryIndName_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_ForgoneRecoveryIndName_2_lbl" xml:lang="en-US">Forgone Recovery, Individual Name</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_OutstandingRecoveryIndName" xlink:to="ecd_OutstandingRecoveryIndName_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_OutstandingRecoveryIndName_2_lbl" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_AwardsCloseToMnpiDiscIndName" xlink:to="ecd_AwardsCloseToMnpiDiscIndName_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_AwardsCloseToMnpiDiscIndName_2_lbl" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ecd_TrdArrIndName" xlink:to="ecd_TrdArrIndName_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ecd_TrdArrIndName_2_lbl" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>idt-20250731_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.2b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="idt-20250731.xsd#Cover" roleURI="http://idt.net/role/Cover" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpDisclosure" roleURI="http://xbrl.sec.gov/ecd/role/PvpDisclosure" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ErrCompDisclosure" roleURI="http://xbrl.sec.gov/ecd/role/ErrCompDisclosure" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#AwardTimingDisclosure" roleURI="http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#InsiderTradingArrangements" roleURI="http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#InsiderTradingPoliciesProc" roleURI="http://xbrl.sec.gov/ecd/role/InsiderTradingPoliciesProc" />
    <link:presentationLink xlink:type="extended" xlink:role="http://idt.net/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/PvpDisclosure" xlink:title="995410 - Disclosure - Pay vs Performance Disclosure">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PayVsPerformanceDisclosureLineItems" xlink:label="loc_ecdPayVsPerformanceDisclosureLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTable" xlink:label="loc_ecdPvpTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdPvpTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ExecutiveCategoryAxis" xlink:label="loc_ecdExecutiveCategoryAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPvpTable" xlink:to="loc_ecdExecutiveCategoryAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllExecutiveCategoriesMember" xlink:label="loc_ecdAllExecutiveCategoriesMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdExecutiveCategoryAxis" xlink:to="loc_ecdAllExecutiveCategoriesMember" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoMember" xlink:label="loc_ecdNonPeoNeoMember" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllExecutiveCategoriesMember" xlink:to="loc_ecdNonPeoNeoMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoMember" xlink:label="loc_ecdPeoMember" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllExecutiveCategoriesMember" xlink:to="loc_ecdPeoMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAxis" xlink:label="loc_ecdAdjToCompAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPvpTable" xlink:to="loc_ecdAdjToCompAxis" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllAdjToCompMember" xlink:label="loc_ecdAllAdjToCompMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAdjToCompAxis" xlink:to="loc_ecdAllAdjToCompMember" order="0" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsDidNotVestInCurrentYearMember" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsDidNotVestInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingEquityAwardsMember" xlink:label="loc_IDTOutstandingEquityAwardsMember" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTOutstandingEquityAwardsMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsAwardedInCurrentYearMember" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsAwardedInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsVestedInCurrentYearMember" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsVestedInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingAndUnvestedEquityAwardsMember" xlink:label="loc_IDTOutstandingAndUnvestedEquityAwardsMember" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTOutstandingAndUnvestedEquityAwardsMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:label="loc_IDTDecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTDecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsGrantInCurrentYearMember" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsGrantInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:label="loc_IDTIncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:label="loc_IDTAggregateAmountEquityAwardsUnvestedInCurrentYearMember" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountEquityAwardsUnvestedInCurrentYearMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:label="loc_IDTIncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:label="loc_IDTDecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTDecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:label="loc_IDTIncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTIncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:label="loc_IDTAggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:label="loc_IDTDecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTDecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:label="loc_IDTAggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAllAdjToCompMember" xlink:to="loc_IDTAggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTableTextBlock" xlink:label="loc_ecdPvpTableTextBlock" />
      <link:presentationArc order="2000" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdPvpTableTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureName" xlink:label="loc_ecdCoSelectedMeasureName" />
      <link:presentationArc order="2010" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdCoSelectedMeasureName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NamedExecutiveOfficersFnTextBlock" xlink:label="loc_ecdNamedExecutiveOfficersFnTextBlock" />
      <link:presentationArc order="2020" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdNamedExecutiveOfficersFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupIssuersFnTextBlock" xlink:label="loc_ecdPeerGroupIssuersFnTextBlock" />
      <link:presentationArc order="2030" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdPeerGroupIssuersFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChangedPeerGroupFnTextBlock" xlink:label="loc_ecdChangedPeerGroupFnTextBlock" />
      <link:presentationArc order="2040" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdChangedPeerGroupFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoTotalCompAmt" xlink:label="loc_ecdPeoTotalCompAmt" />
      <link:presentationArc order="2050" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdPeoTotalCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoActuallyPaidCompAmt" xlink:label="loc_ecdPeoActuallyPaidCompAmt" />
      <link:presentationArc order="2060" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdPeoActuallyPaidCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToPeoCompFnTextBlock" xlink:label="loc_ecdAdjToPeoCompFnTextBlock" />
      <link:presentationArc order="2070" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdAdjToPeoCompFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgTotalCompAmt" xlink:label="loc_ecdNonPeoNeoAvgTotalCompAmt" />
      <link:presentationArc order="2080" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdNonPeoNeoAvgTotalCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:label="loc_ecdNonPeoNeoAvgCompActuallyPaidAmt" />
      <link:presentationArc order="2090" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdNonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:label="loc_ecdAdjToNonPeoNeoCompFnTextBlock" />
      <link:presentationArc order="2100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdAdjToNonPeoNeoCompFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:label="loc_ecdEquityValuationAssumptionDifferenceFnTextBlock" />
      <link:presentationArc order="2110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdEquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:label="loc_ecdCompActuallyPaidVsTotalShareholderRtnTextBlock" />
      <link:presentationArc order="2120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdCompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:label="loc_ecdCompActuallyPaidVsNetIncomeTextBlock" />
      <link:presentationArc order="2130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdCompActuallyPaidVsNetIncomeTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:label="loc_ecdCompActuallyPaidVsCoSelectedMeasureTextBlock" />
      <link:presentationArc order="2140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdCompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:label="loc_ecdTotalShareholderRtnVsPeerGroupTextBlock" />
      <link:presentationArc order="2150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdTotalShareholderRtnVsPeerGroupTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:label="loc_ecdCompActuallyPaidVsOtherMeasureTextBlock" />
      <link:presentationArc order="2160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdCompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TabularListTableTextBlock" xlink:label="loc_ecdTabularListTableTextBlock" />
      <link:presentationArc order="2170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdTabularListTableTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnAmt" xlink:label="loc_ecdTotalShareholderRtnAmt" />
      <link:presentationArc order="2180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdTotalShareholderRtnAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupTotalShareholderRtnAmt" xlink:label="loc_ecdPeerGroupTotalShareholderRtnAmt" />
      <link:presentationArc order="2190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdPeerGroupTotalShareholderRtnAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaapNetIncomeLoss" />
      <link:presentationArc order="2200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_us-gaapNetIncomeLoss" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureAmt" xlink:label="loc_ecdCoSelectedMeasureAmt" />
      <link:presentationArc order="2210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdCoSelectedMeasureAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OtherPerfMeasureAmt" xlink:label="loc_ecdOtherPerfMeasureAmt" />
      <link:presentationArc order="2220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdOtherPerfMeasureAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAmt" xlink:label="loc_ecdAdjToCompAmt" />
      <link:presentationArc order="2230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdCoSelectedMeasureName" xlink:to="loc_ecdAdjToCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_NumberOfRestrictedSharesGranted" xlink:label="loc_IDTNumberOfRestrictedSharesGranted" />
      <link:presentationArc order="2240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_IDTNumberOfRestrictedSharesGranted" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_OutstandingCommonStockPercentage" xlink:label="loc_IDTOutstandingCommonStockPercentage" />
      <link:presentationArc order="2250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_IDTOutstandingCommonStockPercentage" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="idt-20250731.xsd#IDT_CommonStockClosingPrice" xlink:label="loc_IDTCommonStockClosingPrice" />
      <link:presentationArc order="2260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_IDTCommonStockClosingPrice" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoName" xlink:label="loc_ecdPeoName" />
      <link:presentationArc order="2270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdPeoName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MeasureName" xlink:label="loc_ecdMeasureName" />
      <link:presentationArc order="2280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdMeasureName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonGaapMeasureDescriptionTextBlock" xlink:label="loc_ecdNonGaapMeasureDescriptionTextBlock" />
      <link:presentationArc order="2290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdMeasureName" xlink:to="loc_ecdNonGaapMeasureDescriptionTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Additional402vDisclosureTextBlock" xlink:label="loc_ecdAdditional402vDisclosureTextBlock" />
      <link:presentationArc order="2300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdAdditional402vDisclosureTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnBnftsAdjFnTextBlock" xlink:label="loc_ecdPnsnBnftsAdjFnTextBlock" />
      <link:presentationArc order="2310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdPnsnBnftsAdjFnTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjFnTextBlock" xlink:label="loc_ecdEqtyAwrdsAdjFnTextBlock" />
      <link:presentationArc order="2320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdPayVsPerformanceDisclosureLineItems" xlink:to="loc_ecdEqtyAwrdsAdjFnTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/ErrCompDisclosure" xlink:title="995440 - Disclosure - Recovery of Erroneously Awarded Compensation">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RecoveryOfErrCompDisclosureLineItems" xlink:label="loc_ecdRecoveryOfErrCompDisclosureLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ErrCompRecoveryTable" xlink:label="loc_ecdErrCompRecoveryTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdRecoveryOfErrCompDisclosureLineItems" xlink:to="loc_ecdErrCompRecoveryTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDateAxis" xlink:label="loc_ecdRestatementDateAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdErrCompRecoveryTable" xlink:to="loc_ecdRestatementDateAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_IndividualAxis" xlink:label="loc_ecdIndividualAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdErrCompRecoveryTable" xlink:to="loc_ecdIndividualAxis" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllIndividualsMember" xlink:label="loc_ecdAllIndividualsMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdIndividualAxis" xlink:to="loc_ecdAllIndividualsMember" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDeterminationDate" xlink:label="loc_ecdRestatementDeterminationDate" />
      <link:presentationArc order="2000" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdRecoveryOfErrCompDisclosureLineItems" xlink:to="loc_ecdRestatementDeterminationDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompAmt" xlink:label="loc_ecdAggtErrCompAmt" />
      <link:presentationArc order="2010" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdRestatementDeterminationDate" xlink:to="loc_ecdAggtErrCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ErrCompAnalysisTextBlock" xlink:label="loc_ecdErrCompAnalysisTextBlock" />
      <link:presentationArc order="2020" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAggtErrCompAmt" xlink:to="loc_ecdErrCompAnalysisTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:label="loc_ecdStkPrcOrTsrEstimationMethodTextBlock" />
      <link:presentationArc order="2030" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAggtErrCompAmt" xlink:to="loc_ecdStkPrcOrTsrEstimationMethodTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingAggtErrCompAmt" xlink:label="loc_ecdOutstandingAggtErrCompAmt" />
      <link:presentationArc order="2040" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAggtErrCompAmt" xlink:to="loc_ecdOutstandingAggtErrCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:label="loc_ecdAggtErrCompNotYetDeterminedTextBlock" />
      <link:presentationArc order="2050" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAggtErrCompAmt" xlink:to="loc_ecdAggtErrCompNotYetDeterminedTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryIndName" xlink:label="loc_ecdForgoneRecoveryIndName" />
      <link:presentationArc order="2060" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAggtErrCompAmt" xlink:to="loc_ecdForgoneRecoveryIndName" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:label="loc_ecdForgoneRecoveryDueToExpenseOfEnforcementAmt" />
      <link:presentationArc order="2070" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAggtErrCompAmt" xlink:to="loc_ecdForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:label="loc_ecdForgoneRecoveryDueToViolationOfHomeCountryLawAmt" />
      <link:presentationArc order="2080" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdRestatementDeterminationDate" xlink:to="loc_ecdForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:label="loc_ecdForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" />
      <link:presentationArc order="2090" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdRestatementDeterminationDate" xlink:to="loc_ecdForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:label="loc_ecdForgoneRecoveryExplanationOfImpracticabilityTextBlock" />
      <link:presentationArc order="2100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="loc_ecdForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryIndName" xlink:label="loc_ecdOutstandingRecoveryIndName" />
      <link:presentationArc order="2110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="loc_ecdOutstandingRecoveryIndName" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryCompAmt" xlink:label="loc_ecdOutstandingRecoveryCompAmt" />
      <link:presentationArc order="2120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="loc_ecdOutstandingRecoveryCompAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:label="loc_ecdRestatementDoesNotRequireRecoveryTextBlock" />
      <link:presentationArc order="2130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="loc_ecdRestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure" xlink:title="995443 - Disclosure - Award Timing Disclosure">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgDiscLineItems" xlink:label="loc_ecdAwardTmgDiscLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiDiscTextBlock" xlink:label="loc_ecdAwardTmgMnpiDiscTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardTmgMnpiDiscTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMethodTextBlock" xlink:label="loc_ecdAwardTmgMethodTextBlock" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardTmgMethodTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgPredtrmndFlag" xlink:label="loc_ecdAwardTmgPredtrmndFlag" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardTmgPredtrmndFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiCnsdrdFlag" xlink:label="loc_ecdAwardTmgMnpiCnsdrdFlag" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardTmgMnpiCnsdrdFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:label="loc_ecdAwardTmgHowMnpiCnsdrdTextBlock" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MnpiDiscTimedForCompValFlag" xlink:label="loc_ecdMnpiDiscTimedForCompValFlag" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdMnpiDiscTimedForCompValFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:label="loc_ecdAwardsCloseToMnpiDiscTableTextBlock" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardsCloseToMnpiDiscTableTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscIndName" xlink:label="loc_ecdAwardsCloseToMnpiDiscIndName" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardsCloseToMnpiDiscIndName" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardUndrlygSecuritiesAmt" xlink:label="loc_ecdAwardUndrlygSecuritiesAmt" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardUndrlygSecuritiesAmt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardExrcPrice" xlink:label="loc_ecdAwardExrcPrice" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardExrcPrice" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardGrantDateFairValue" xlink:label="loc_ecdAwardGrantDateFairValue" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdAwardGrantDateFairValue" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_UndrlygSecurityMktPriceChngPct" xlink:label="loc_ecdUndrlygSecurityMktPriceChngPct" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdAwardTmgDiscLineItems" xlink:to="loc_ecdUndrlygSecurityMktPriceChngPct" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements" xlink:title="995445 - Disclosure - Insider Trading Arrangements">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingArrLineItems" xlink:label="loc_ecdInsiderTradingArrLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrByIndTable" xlink:label="loc_ecdTradingArrByIndTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTradingArrByIndTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrAxis" xlink:label="loc_ecdTradingArrAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdTradingArrByIndTable" xlink:to="loc_ecdTradingArrAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllTradingArrangementsMember" xlink:label="loc_ecdAllTradingArrangementsMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdTradingArrAxis" xlink:to="loc_ecdAllTradingArrangementsMember" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_IndividualAxis" xlink:label="loc_ecdIndividualAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdTradingArrByIndTable" xlink:to="loc_ecdIndividualAxis" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllIndividualsMember" xlink:label="loc_ecdAllIndividualsMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdIndividualAxis" xlink:to="loc_ecdAllIndividualsMember" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MtrlTermsOfTrdArrTextBlock" xlink:label="loc_ecdMtrlTermsOfTrdArrTextBlock" />
      <link:presentationArc order="2000" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdMtrlTermsOfTrdArrTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndName" xlink:label="loc_ecdTrdArrIndName" />
      <link:presentationArc order="2010" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrIndName" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndTitle" xlink:label="loc_ecdTrdArrIndTitle" />
      <link:presentationArc order="2020" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrIndTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Rule10b51ArrAdoptedFlag" xlink:label="loc_ecdRule10b51ArrAdoptedFlag" />
      <link:presentationArc order="2030" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdRule10b51ArrAdoptedFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrAdoptedFlag" xlink:label="loc_ecdNonRule10b51ArrAdoptedFlag" />
      <link:presentationArc order="2040" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdNonRule10b51ArrAdoptedFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrAdoptionDate" xlink:label="loc_ecdTrdArrAdoptionDate" />
      <link:presentationArc order="2050" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrAdoptionDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Rule10b51ArrTrmntdFlag" xlink:label="loc_ecdRule10b51ArrTrmntdFlag" />
      <link:presentationArc order="2060" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdRule10b51ArrTrmntdFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrTrmntdFlag" xlink:label="loc_ecdNonRule10b51ArrTrmntdFlag" />
      <link:presentationArc order="2070" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdNonRule10b51ArrTrmntdFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrTerminationDate" xlink:label="loc_ecdTrdArrTerminationDate" />
      <link:presentationArc order="2080" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrTerminationDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrExpirationDate" xlink:label="loc_ecdTrdArrExpirationDate" />
      <link:presentationArc order="2090" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrExpirationDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrDuration" xlink:label="loc_ecdTrdArrDuration" />
      <link:presentationArc order="2100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrDuration" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrSecuritiesAggAvailAmt" xlink:label="loc_ecdTrdArrSecuritiesAggAvailAmt" />
      <link:presentationArc order="2110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingArrLineItems" xlink:to="loc_ecdTrdArrSecuritiesAggAvailAmt" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/InsiderTradingPoliciesProc" xlink:title="995447 - Disclosure - Insider Trading Policies and Procedures">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingPoliciesProcLineItems" xlink:label="loc_ecdInsiderTradingPoliciesProcLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:label="loc_ecdInsiderTrdPoliciesProcAdoptedFlag" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingPoliciesProcLineItems" xlink:to="loc_ecdInsiderTrdPoliciesProcAdoptedFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:label="loc_ecdInsiderTrdPoliciesProcNotAdoptedTextBlock" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_ecdInsiderTradingPoliciesProcLineItems" xlink:to="loc_ecdInsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2025</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">DEF 14A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">IDT
Corporation<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001005731<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Pay vs Performance Disclosure - USD ($)<br></strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2025</div></th>
<th class="th"><div>Jul. 31, 2024</div></th>
<th class="th"><div>Jul. 31, 2023</div></th>
<th class="th"><div>Jul. 31, 2022</div></th>
<th class="th"><div>Jul. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTableTextBlock', window );">Pay vs Performance [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" id="xdx_88F_eecd--PvpTableTextBlock_zv4bf1BMvmYj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal Year<sup>(1)</sup></b></span></td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_48C_eecd--PeoTotalCompAmt_z8IYH0bEXJgh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary<br/> Compensation<br/> Table Total<br/> for PEO<sup>(2)</sup><br/> ($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_480_eecd--PeoActuallyPaidCompAmt_zYMZTPdMgRAb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation<br/> Actually Paid<br/> to PEO<br/> ($) &#160;<sup>&#160;</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_481_eecd--NonPeoNeoAvgTotalCompAmt_zuvuUxe6O4y5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average<br/> Summary<br/> Compensation<br/> Table Total<br/> for Non-PEO<br/> NEOs<sup>(3)</sup><br/> ($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_482_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zCUizaPrjoA7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average<br/> Compensation<br/> Actually Paid<br/> to Non-PEO<br/> NEOs<br/> ($) &#160;<sup>&#160;</sup></b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_48D_eecd--TotalShareholderRtnAmt_pp2d_z8ACViwmpV3a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value of<br/> Initial Fixed<br/> $100 Investment<br/> Based On Total<br/> Shareholder<br/> Return<sup>(4)</sup><br/> ($)</b></span></td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_481_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_zRwcob3OHtT7" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value of<br/> Initial Fixed<br/> $100 Investment<br/> Based On Peer</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Group&#8217;s Total<br/> Shareholder<br/> Return<sup>(5)</sup><br/> ($)</b></span></p></td><td style="padding-bottom: 1pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" id="xdx_48B_eus-gaap--NetIncomeLoss_zjWNXFYxdRM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Income<br/> ($)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
  <tr id="xdx_414_20240801__20250731_zyhIMuApaWk4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 10%">Fiscal 2025</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">1,479,253</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">1,479,253</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">1,382,896</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">1,919,113</td><td style="width: 1%; text-align: left">&#160;<sup>(6)</sup></td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">911.46</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">211.03</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">81,139,000</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_410_20230801__20240731_zR5QIj0xM5pd" style="vertical-align: bottom; background-color: White">
    <td>Fiscal 2024</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,090,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,090,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,243,526</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,552,575</td><td style="text-align: left">&#160;<sup>(7)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">588.83</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">160.76</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">68,264,000</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_411_20220801__20230731_zBOcfoPhFYM9" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Fiscal 2023</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,075,425</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,075,425</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,095,435</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,083,516</td><td style="text-align: left">&#160;<sup>(8)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">364.36</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">123.63</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">44,366,000</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_419_20210801__20220731_zcOy0mOhSR2i" style="vertical-align: bottom; background-color: White">
    <td>Fiscal 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,027,500</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,080,870</td><td style="text-align: left">&#160;<sup>(9)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">584,101</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">597,684</td><td style="text-align: left">&#160;<sup>(10)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">399.85</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">102.23</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">29,005,000</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_41F_20200801__20210731_zhdCfZbZrByk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Fiscal 2021</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,144,500</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,144,500</td><td style="text-align: left">&#160;<sup>(11)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">671,833</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">671,833</td><td style="text-align: left">&#160;<sup>(12)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">764.87</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">143.91</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">96,891,000</td><td style="text-align: left">&#160;</td></tr>
  </table><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_NamedExecutiveOfficersFnTextBlock', window );">Named Executive Officers, Footnote [Text Block]</a></td>
<td class="text"><p id="xdx_894_eecd--NamedExecutiveOfficersFnTextBlock_dU_zQ5hPSqByY7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eecd--PeoName_c20240801__20250731_zXzZcMM7MiA7"><span id="xdx_90F_eecd--PeoName_c20230801__20240731_zbqRYrr2cp52"><span id="xdx_90C_eecd--PeoName_c20220801__20230731_zCEEnBHLXZQc"><span id="xdx_90B_eecd--PeoName_c20210801__20220731_zY0aKI5jIXu8"><span id="xdx_903_eecd--PeoName_c20200801__20210731_zC0Hjf6bmBkl">Shmuel
    Jonas</span></span></span></span></span>, Chief Executive Officer, is the Principal Executive Officer (&#8220;PEO&#8221;).</span></td></tr>
  </table>
<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PeoTotalCompAmt', window );">PEO Total Compensation Amount</a></td>
<td class="nump">$ 1,479,253<span></span>
</td>
<td class="nump">$ 1,090,000<span></span>
</td>
<td class="nump">$ 1,075,425<span></span>
</td>
<td class="nump">$ 1,027,500<span></span>
</td>
<td class="nump">$ 1,144,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PeoActuallyPaidCompAmt', window );">PEO Actually Paid Compensation Amount</a></td>
<td class="nump">1,479,253<span></span>
</td>
<td class="nump">1,090,000<span></span>
</td>
<td class="nump">1,075,425<span></span>
</td>
<td class="nump">1,080,870<span></span>
</td>
<td class="nump">1,144,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_NonPeoNeoAvgTotalCompAmt', window );">Non-PEO NEO Average Total Compensation Amount</a></td>
<td class="nump">1,382,896<span></span>
</td>
<td class="nump">1,243,526<span></span>
</td>
<td class="nump">1,095,435<span></span>
</td>
<td class="nump">584,101<span></span>
</td>
<td class="nump">671,833<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_NonPeoNeoAvgCompActuallyPaidAmt', window );">Non-PEO NEO Average Compensation Actually Paid Amount</a></td>
<td class="nump">$ 1,919,113<span></span>
</td>
<td class="nump">1,552,575<span></span>
</td>
<td class="nump">1,083,516<span></span>
</td>
<td class="nump">597,684<span></span>
</td>
<td class="nump">671,833<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToNonPeoNeoCompFnTextBlock', window );">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</a></td>
<td class="text"><p id="xdx_899_eecd--AdjToNonPeoNeoCompFnTextBlock_dU_zmoqTHH665P4" style="margin: 0; display: none">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2025, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_904_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_ziZlCF4ZDoK1">536,217</span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90E_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_zX51DkGm98Ra">184,082</span> ($<span id="xdx_90E_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zCMExcRkz2xa">920,410</span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and deferred stock units awarded during Fiscal 2025 to the Non-PEO NEOs that did not vest during Fiscal 2025 based
    upon the closing price of our Class B Common Stock on July 31, 2025 (the last trading day of Fiscal 2025) of $<span id="xdx_900_ecustom--CommonStockClosingPrice_iI_pid_c20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zBKhMieSuKdh" title="Common stock closing price">58.91</span>; see Outstanding
    Equity Awards at Fiscal Year-End, above;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_900_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_zPfdIpLLGceg">368,634</span> ($<span id="xdx_908_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsAwardedInCurrentYearMember_z6qUfOvZuf4l">1,843,172</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2025 to the Non-PEO NEOs that vested during Fiscal 2025 based upon the closing
    price of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested,
    above; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_908_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_zv6OyBAaOw68">488,494</span> ($<span id="xdx_90F_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zkIEkuaJCdt">2,442,469</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs that vested during Fiscal 2025 (based on the closing price of our Class B Common Stock on such vesting
    date) as compared to the fair market value of such restricted shares of Class B Common Stock and DSUs that were outstanding and unvested
    on July 31, 2024 (the last trading day of Fiscal 2024, which had a closing price of our Class B Common Stock on such date of $<span id="xdx_90B_ecustom--CommonStockClosingPrice_iI_pid_c20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zcaPkFMs5vhg" title="Common stock closing price">38.23</span>);
    and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_90A_eecd--AdjToCompAmt_di_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_zTqsMi58EsJ5">504,993</span> ($<span id="xdx_909_eecd--AdjToCompAmt_di_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zURxgPVFzui7">2,524,965</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2025 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 96%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2024, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_906_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zAFp1xBh2SC6">309,049</span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90D_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_zYjrVVatjZa2">179,681</span> ($<span id="xdx_90F_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zCOCYoI7sZxj">898,405</span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and deferred stock units awarded during Fiscal 2024 to the Non-PEO NEOs that did not vest during Fiscal 2024 based
    upon the closing price of our Class B Common Stock on July 31, 2024 (the last trading day of Fiscal 2024) of $<span id="xdx_90B_ecustom--CommonStockClosingPrice_iI_pid_c20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zz5U1odTnGlb" title="Common stock closing price">38.23</span>; see Outstanding
    Equity Awards at Fiscal Year-End, above;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_902_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_zqmMyPbV4Yxf">297,500</span> ($<span id="xdx_909_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsAwardedInCurrentYearMember_zhFybKOnAGOb">1,487,498</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2024 to the Non-PEO NEOs that vested during Fiscal 2024 based upon the closing
    price of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested,
    above; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90D_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_ze7TnIxbZG5f">285,220</span> ($<span id="xdx_90B_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsUnvestedInCurrentYearMember_zEL9AO1pta02">1,426,101</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs outstanding and unvested on July 31, 2024 (the last trading day of Fiscal 2024, which had a closing
    price of our Class B Common Stock on such date of $<span id="xdx_902_ecustom--CommonStockClosingPrice_iI_pid_c20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zobknEhQDFLd" title="Common stock closing price">38.23</span>) as compared to the fair market value of such restricted shares of Class
    B Common Stock and DSUs that were outstanding and unvested on July 31, 2023 (the last trading day of Fiscal 2023, which had a closing
    price of our Class B Common Stock on such date of $<span id="xdx_901_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zSMAsIzZY0bl" title="Common stock closing price">23.63</span>); </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_900_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_z7zJtgN2y85l">5,434</span> ($<span id="xdx_90F_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zRMprkFND5ae">27,172</span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and DSUs that vested during Fiscal 2024 (based on the closing price of our Class B Common Stock on such vesting date)
    as compared to the fair market value of such restricted shares of Class B Common Stock and DSUs that were outstanding and unvested
    on July 31, 2023 (the last trading day of Fiscal 2023, which had a closing price of our Class B Common Stock on such date of $<span id="xdx_90A_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_z6I0Q3yYGxM4" title="Common stock closing price">23.63</span>);
    and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_909_eecd--AdjToCompAmt_di_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_z7P7QPFdAOLh">458,786</span> ($<span id="xdx_907_eecd--AdjToCompAmt_di_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zUzkLlPNAvWj">2,293,930</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2024 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 6px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2023, the average compensation actually paid to non-PEO NEOs was lower than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_znqK8nbAqjyj">11,919</span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90B_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_z6k6oX87bBM9">466,487</span> ($<span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zolrD3bWll4j">2,332,436</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEO NEOs that did not vest during Fiscal 2023 based upon the
    closing price of our Class B Common Stock on July 31, 2023 (the last trading day of Fiscal 2023) of $<span id="xdx_90C_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zBRXWGom7iA6" title="Common stock closing price">23.63</span>; see Outstanding Equity
    Awards at Fiscal Year-End, above;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_906_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_zCxtCH5T7eb">46,314</span> ($<span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zVsCZ5XjVLdi">231,570</span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEO NEOs that vested during Fiscal 2023 based upon the closing price
    of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested, above.
    Excluded from this calculation are restricted shares of Class B Common Stock owned by Bill Pereira and Marcelo Fischer that were
    awarded in Fiscal 2023 for services provided in Fiscal 2022, see footnote 8 below; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_909_eecd--AdjToCompAmt_di_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_zSoyDP7RbLj5">524,720</span> ($<span id="xdx_907_eecd--AdjToCompAmt_di_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zzUHNd6spah2">2,623,200</span> in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2022, the compensation actually paid to Shmuel Jonas (PEO) was greater than the total amount disclosed in the Summary Compensation
    Table in the amount of $<span id="xdx_908_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zqr0evyYznOd">53,370</span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the amount of $<span id="xdx_904_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_zHuMjSislkLa">319,620</span> related to the fair market value of restricted shares of Class B Common Stock awarded during Fiscal
    2025 for services provided by Shmuel Jonas in Fiscal 2022 that vested upon grant based upon the closing price of our Class B Common
    Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested, above; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the amount of $<span id="xdx_901_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_zmdWhzmWye0g">266,250</span> related to the fair market value of restricted shares of Class B Common Stock awarded during Fiscal
    2025 for services provided by Shmuel Jonas in Fiscal 2022 based upon the price of the Class B Common Stock at the applicable grant
    date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    Fiscal 2022, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $<span id="xdx_90A_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zqKk3Bi1cMSj">13,583</span>, due to the following:</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    increase in the average amount of $<span id="xdx_90E_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_zwtI4BQNANai">83,334</span> ($<span id="xdx_903_eecd--AdjToCompAmt_c20210801__20220731__ecd--AdjToCompAxis__custom--AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_zVSTHurpkY0f">416,670</span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock awarded during Fiscal 2023 for services provided by two non-PEO NEOs (Bill Pereira and Marcelo Fischer) in Fiscal
    2022 that vested upon grant based upon the closing price of our Class B Common Stock on the applicable date of vesting; see Option
    Exercises and Stock and Deferred Stock Units Vested, above; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    decrease in the average amount of $<span id="xdx_908_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_zKJytENRdK1f">69,751</span> ($<span id="xdx_90F_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--AdjToCompAxis__custom--AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_zhTDYCmQNEi9">348,753</span> in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock awarded during Fiscal 2023 for services provided by two non-PEO NEOs (Bill Pereira and Marcelo Fischer) in Fiscal
    2022 based upon the price of the Class B Common Stock at the applicable grant date; see Summary Compensation Table, above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    value of a grant to Shmuel Jonas in Fiscal 2021 of <span id="xdx_90C_ecustom--NumberOfRestrictedSharesGranted_pid_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zAqKOZnMGtC" title="Number of restricted shares grant">50</span> restricted shares of Class B common stock of net2phone 2.0, Inc., a subsidiary
    of the Company (&#8220;net2phone 2.0&#8221;), which represents <span id="xdx_902_ecustom--OutstandingCommonStockPercentage_pid_dp_uRatio_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zamKbMbdJC91" title="Outstanding common stock percentage">5</span>% of the outstanding common stock of net2phone 2.0, was valued at
    the time of grant and assumed to not have changed value by the end of Fiscal 2021 as such shares were illiquid and did not vest by
    the end of Fiscal 2021.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    value of a grant to Howard S. Jonas (a non-PEO NEO) in Fiscal 2021 of <span id="xdx_907_ecustom--NumberOfRestrictedSharesGranted_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z9cXmNOMpxO" title="Number of restricted shares grant">50</span> restricted shares of Class B common stock of net2phone 2.0,
    which represents <span id="xdx_90F_ecustom--OutstandingCommonStockPercentage_pid_dp_uRatio_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zW110lkUlvU" title="Outstanding common stock percentage">5</span>% of the outstanding common stock of net2phone 2.0, was valued at the time of grant and assumed not to have changed
    value by the end of Fiscal 2021 as such shares were illiquid and did not vest by the end of Fiscal 2021.</span></td></tr>
  </table>
<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_EquityValuationAssumptionDifferenceFnTextBlock', window );">Equity Valuation Assumption Difference, Footnote [Text Block]</a></td>
<td class="text"><p id="xdx_89B_eecd--EquityValuationAssumptionDifferenceFnTextBlock_dU_zKuXh6M9Np2l" style="display: none; margin-top: 0; margin-bottom: 0">&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calculated
    based on a hypothetical $100 investment beginning at market close on July 31, 2020.</span></td></tr>
  </table>
<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_TotalShareholderRtnAmt', window );">Total Shareholder Return Amount</a></td>
<td class="nump">$ 911.46<span></span>
</td>
<td class="nump">588.83<span></span>
</td>
<td class="nump">364.36<span></span>
</td>
<td class="nump">399.85<span></span>
</td>
<td class="nump">764.87<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PeerGroupTotalShareholderRtnAmt', window );">Peer Group Total Shareholder Return Amount</a></td>
<td class="nump">211.03<span></span>
</td>
<td class="nump">160.76<span></span>
</td>
<td class="nump">123.63<span></span>
</td>
<td class="nump">102.23<span></span>
</td>
<td class="nump">143.91<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Income (Loss) Attributable to Parent</a></td>
<td class="nump">$ 81,139,000<span></span>
</td>
<td class="nump">$ 68,264,000<span></span>
</td>
<td class="nump">$ 44,366,000<span></span>
</td>
<td class="nump">$ 29,005,000<span></span>
</td>
<td class="nump">$ 96,891,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PeoName', window );">PEO Name</a></td>
<td class="text">Shmuel
    Jonas<span></span>
</td>
<td class="text">Shmuel
    Jonas<span></span>
</td>
<td class="text">Shmuel
    Jonas<span></span>
</td>
<td class="text">Shmuel
    Jonas<span></span>
</td>
<td class="text">Shmuel
    Jonas<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_Additional402vDisclosureTextBlock', window );">Additional 402(v) Disclosure [Text Block]</a></td>
<td class="text"><p id="xdx_893_eecd--Additional402vDisclosureTextBlock_dU_zsSIb2PwWeph" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calculated
    based on a hypothetical $100 investment beginning at market close on July 31, 2020 in the S&amp;P 500 Communication Services.</span></td></tr>
</table>

<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember', window );">Aggregate Amount Equity Awards did not Vest in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">$ 920,410<span></span>
</td>
<td class="nump">$ 898,405<span></span>
</td>
<td class="nump">$ 2,332,436<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember', window );">Aggregate Amount Equity Awards Awarded in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">1,843,172<span></span>
</td>
<td class="nump">1,487,498<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember', window );">Aggregate Amount Equity Awards Vested in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">2,442,469<span></span>
</td>
<td class="nump">27,172<span></span>
</td>
<td class="nump">231,570<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember', window );">Aggregate Amount Equity Awards Grant in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="num">(2,524,965)<span></span>
</td>
<td class="num">(2,293,930)<span></span>
</td>
<td class="num">(2,623,200)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember', window );">Aggregate Amount Equity Awards Unvested in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,426,101<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember', window );">Aggregate Amount of Equity Awards Vested upon Grant based upon Closing Price of Class B Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 416,670<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAxis=IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember', window );">Aggregate Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(348,753)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">536,217<span></span>
</td>
<td class="nump">309,049<span></span>
</td>
<td class="nump">11,919<span></span>
</td>
<td class="nump">13,583<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_IDT_NumberOfRestrictedSharesGranted', window );">Number of restricted shares grant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_IDT_OutstandingCommonStockPercentage', window );">Outstanding common stock percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Increase in Average Amount Equity Awards did not Vest in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">$ 184,082<span></span>
</td>
<td class="nump">$ 179,681<span></span>
</td>
<td class="nump">$ 466,487<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Outstanding Equity Awards [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_IDT_CommonStockClosingPrice', window );">Common stock closing price</a></td>
<td class="nump">$ 58.91<span></span>
</td>
<td class="nump">$ 38.23<span></span>
</td>
<td class="nump">$ 23.63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Increase in Average Amount Equity Awards Awarded in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">$ 368,634<span></span>
</td>
<td class="nump">$ 297,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Increase in Average Amount Equity Awards Vested in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="nump">$ 488,494<span></span>
</td>
<td class="nump">$ 5,434<span></span>
</td>
<td class="nump">$ 46,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Outstanding and Unvested Equity Awards [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_IDT_CommonStockClosingPrice', window );">Common stock closing price</a></td>
<td class="nump">$ 38.23<span></span>
</td>
<td class="nump">$ 38.23<span></span>
</td>
<td class="nump">$ 23.63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Decrease in Average Amount Equity Awards Grant in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="num">$ (504,993)<span></span>
</td>
<td class="num">$ (458,786)<span></span>
</td>
<td class="num">$ (524,720)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Increase in Average Amount Equity Awards Unvested in Current Year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 285,220<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Increase in Average Amount of Equity Awards Vested upon Grant based upon Closing Price of ClassB Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember', window );">Non-PEO NEO [Member] | Decrease in Average Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(69,751)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_PeoMember', window );">PEO [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_IDT_NumberOfRestrictedSharesGranted', window );">Number of restricted shares grant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_IDT_OutstandingCommonStockPercentage', window );">Outstanding common stock percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_PeoMember', window );">PEO [Member] | Increase in Amount Related to Fair Market Value Awards for Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">319,620<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_ExecutiveCategoryAxis=ecd_PeoMember', window );">PEO [Member] | Decrease in Amount Related to Fair Market Value Awards for Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure [Table]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AdjToCompAmt', window );">Adjustment to Compensation Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (266,250)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_IDT_CommonStockClosingPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Common stock closing price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">IDT_CommonStockClosingPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>IDT_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_IDT_NumberOfRestrictedSharesGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of restricted shares granted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">IDT_NumberOfRestrictedSharesGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>IDT_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_IDT_OutstandingCommonStockPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Outstanding common stock percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">IDT_OutstandingCommonStockPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>IDT_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_Additional402vDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_Additional402vDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToNonPeoNeoCompFnTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToNonPeoNeoCompFnTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_EquityValuationAssumptionDifferenceFnTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_EquityValuationAssumptionDifferenceFnTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_NamedExecutiveOfficersFnTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_NamedExecutiveOfficersFnTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_NonPeoNeoAvgCompActuallyPaidAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 2<br> -Subparagraph iii<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_NonPeoNeoAvgCompActuallyPaidAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_NonPeoNeoAvgTotalCompAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 2<br> -Subparagraph ii<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_NonPeoNeoAvgTotalCompAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_PeerGroupTotalShareholderRtnAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 2<br> -Subparagraph iv<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_PeerGroupTotalShareholderRtnAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_PeoActuallyPaidCompAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 2<br> -Subparagraph iii<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_PeoActuallyPaidCompAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_PeoName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_PeoName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_PeoTotalCompAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 2<br> -Subparagraph ii<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_PeoTotalCompAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_PvpTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_PvpTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_PvpTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_PvpTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_TotalShareholderRtnAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 2<br> -Subparagraph iv<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_TotalShareholderRtnAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-4<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-14<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-4<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3A<br> -Subparagraph (24)(d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 105<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 9<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479343/105-10-65-9<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 17<br> -Subparagraph (d)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480336/718-10-65-17<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-6<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 805<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476176/805-60-65-1<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 323<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478666/740-323-65-2<br><br>Reference 19: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482765/220-10-50-6<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-3<br><br>Reference 24: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 25: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480175/815-40-65-1<br><br>Reference 26: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8<br><br>Reference 27: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-11<br><br>Reference 28: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-11<br><br>Reference 29: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-7<br><br>Reference 30: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 31: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(9))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 32: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(1)(d))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 33: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 35: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii)(A))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 36: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 37: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 38: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 39: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(A))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 40: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(B))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 41: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 42: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 43: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B<br><br>Reference 44: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7<br><br>Reference 45: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 46: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A<br><br>Reference 47: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B<br><br>Reference 48: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 4<br> -Subparagraph (f)(4)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481538/470-20-65-4<br><br>Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_ExecutiveCategoryAxis=ecd_NonPeoNeoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_OutstandingEquityAwardsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_OutstandingEquityAwardsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_OutstandingAndUnvestedEquityAwardsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_OutstandingAndUnvestedEquityAwardsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_ExecutiveCategoryAxis=ecd_PeoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_ExecutiveCategoryAxis=ecd_PeoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AdjToCompAxis=IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AdjToCompAxis=IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Award Timing Disclosure<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2025</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AwardTmgDiscLineItems', window );"><strong>Award Timing Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AwardTmgMnpiDiscTextBlock', window );">Award Timing MNPI Disclosure [Text Block]</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is the Compensation Committee&#8217;s practice to consider and approve ordinary course annual equity grants for the Company&#8217;s executive
officers at its&#160;regularly scheduled meeting held in September of each year. At this meeting, the Compensation Committee approves
the portion of each named executive officer&#8217;s annual equity award that will be granted in the form of stock options, if any.</span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#160;does <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_908_eecd--AwardTmgMnpiCnsdrdFlag_dbF_c20240801__20250731_zl1uqKW7CeKb">no</span>t&#160;schedule its equity grants in anticipation of the release of material, non-public information (&#8220;MNPI&#8221;),&#160;nor
does the Company time the release of&#160;MNPI&#160;based on equity grant dates. In the event&#160;MNPI&#160;becomes known to the Compensation
Committee prior to granting an equity award, the Compensation Committee will take the existence of such information into consideration
and use its collective business judgment to determine whether to delay the grant of equity to avoid any impropriety.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
fiscal 2025, no named executive officer received a stock option grant during the period beginning four business days before, and ending
one business day after, the filing of a periodic report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on
Form 8-K that discloses&#160;MNPI.</span></p>

<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_AwardTmgMnpiCnsdrdFlag', window );">Award Timing MNPI Considered [Flag]</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AwardTmgDiscLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection x<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AwardTmgDiscLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AwardTmgMnpiCnsdrdFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection x<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AwardTmgMnpiCnsdrdFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ecd_AwardTmgMnpiDiscTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection x<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ecd_AwardTmgMnpiDiscTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ecd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
.report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

.report table.authRefData a {
	display: block;
	font-weight: bold;
}

.report table.authRefData p {
	margin-top: 0px;
}

.report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

.report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

.report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

.report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
.pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
.report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

.report hr {
	border: 1px solid #acf;
}

/* Top labels */
.report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

.report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

.report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

.report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

.report td.pl div.a {
	width: 200px;
}

.report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
.report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
.report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
.report .re, .report .reu {
	background-color: #def;
}

.report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
.report .ro, .report .rou {
	background-color: white;
}

.report .rou td {
	border-bottom: 1px solid black;
}

.report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
.report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
.report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

.report .nump {
	padding-left: 2em;
}

.report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
.report .text {
	text-align: left;
	white-space: normal;
}

.report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

.report .text .more {
	display: none;
}

.report .text .note {
	font-style: italic;
	font-weight: bold;
}

.report .text .small {
	width: 10em;
}

.report sup {
	font-style: italic;
}

.report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.25.3</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>48</ContextCount>
  <ElementCount>23</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>20</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>4</UnitCount>
  <MyReports>
    <Report instance="formdef14a.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://idt.net/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="formdef14a.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>995410 - Disclosure - Pay vs Performance Disclosure</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ecd/role/PvpDisclosure</Role>
      <ShortName>Pay vs Performance Disclosure</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="formdef14a.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>995443 - Disclosure - Award Timing Disclosure</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure</Role>
      <ShortName>Award Timing Disclosure</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="DEF 14A" isProxy="true" isUsgaap="true" original="formdef14a.htm">formdef14a.htm</File>
    <File>idt-20250731.xsd</File>
    <File>idt-20250731_def.xml</File>
    <File>idt-20250731_lab.xml</File>
    <File>idt-20250731_pre.xml</File>
  </InputFiles>
  <SupplementalFiles>
    <File>formdef14-a_001.jpg</File>
    <File>formdef14-a_002.jpg</File>
  </SupplementalFiles>
  <BaseTaxonomies>
    <BaseTaxonomy items="5">http://fasb.org/us-gaap/2025</BaseTaxonomy>
    <BaseTaxonomy items="4">http://xbrl.sec.gov/dei/2025</BaseTaxonomy>
    <BaseTaxonomy items="77">http://xbrl.sec.gov/ecd/2025</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>17
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "formdef14a.htm": {
   "nsprefix": "IDT",
   "nsuri": "http://idt.net/20250731",
   "dts": {
    "inline": {
     "local": [
      "formdef14a.htm"
     ]
    },
    "schema": {
     "local": [
      "idt-20250731.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/reference-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://www.xbrl.org/dtr/type/2024-01-31/types.xsd",
      "https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd",
      "https://xbrl.fasb.org/srt/2025/elts/srt-roles-2025.xsd",
      "https://xbrl.fasb.org/srt/2025/elts/srt-types-2025.xsd",
      "https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd",
      "https://xbrl.fasb.org/us-gaap/2025/elts/us-roles-2025.xsd",
      "https://xbrl.fasb.org/us-gaap/2025/elts/us-types-2025.xsd",
      "https://xbrl.sec.gov/country/2025/country-2025.xsd",
      "https://xbrl.sec.gov/dei/2025/dei-2025.xsd",
      "https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd",
      "https://xbrl.sec.gov/stpr/2025/stpr-2025.xsd"
     ]
    },
    "definitionLink": {
     "local": [
      "idt-20250731_def.xml"
     ]
    },
    "labelLink": {
     "local": [
      "idt-20250731_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "idt-20250731_pre.xml"
     ]
    }
   },
   "keyStandard": 20,
   "keyCustom": 3,
   "axisStandard": 2,
   "axisCustom": 0,
   "memberStandard": 2,
   "memberCustom": 18,
   "hidden": {
    "total": 3,
    "http://xbrl.sec.gov/dei/2025": 3
   },
   "contextCount": 48,
   "entityCount": 1,
   "segmentCount": 20,
   "elementCount": 117,
   "unitCount": 4,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/ecd/2025": 77,
    "http://fasb.org/us-gaap/2025": 5,
    "http://xbrl.sec.gov/dei/2025": 4
   },
   "report": {
    "R1": {
     "role": "http://idt.net/role/Cover",
     "longName": "00000001 - Document - Cover",
     "shortName": "Cover",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "From2024-08-01to2025-07-31",
      "name": "dei:EntityRegistrantName",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "span",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "formdef14a.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "From2024-08-01to2025-07-31",
      "name": "dei:EntityRegistrantName",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "span",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "formdef14a.htm",
      "first": true,
      "unique": true
     }
    },
    "R2": {
     "role": "http://xbrl.sec.gov/ecd/role/PvpDisclosure",
     "longName": "995410 - Disclosure - Pay vs Performance Disclosure",
     "shortName": "Pay vs Performance Disclosure",
     "isDefault": "false",
     "groupType": "disclosure",
     "subGroupType": "",
     "menuCat": "Notes",
     "order": "2",
     "firstAnchor": {
      "contextRef": "From2024-08-01to2025-07-31",
      "name": "ecd:PvpTableTextBlock",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "formdef14a.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "From2024-08-01to2025-07-31",
      "name": "ecd:PvpTableTextBlock",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "formdef14a.htm",
      "first": true,
      "unique": true
     }
    },
    "R3": {
     "role": "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure",
     "longName": "995443 - Disclosure - Award Timing Disclosure",
     "shortName": "Award Timing Disclosure",
     "isDefault": "false",
     "groupType": "disclosure",
     "subGroupType": "",
     "menuCat": "Notes",
     "order": "3",
     "firstAnchor": {
      "contextRef": "From2024-08-01to2025-07-31",
      "name": "ecd:AwardTmgMnpiDiscTextBlock",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "formdef14a.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "From2024-08-01to2025-07-31",
      "name": "ecd:AwardTmgMnpiDiscTextBlock",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "formdef14a.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "ecd_Additional402vDisclosureTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "Additional402vDisclosureTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Additional 402(v) Disclosure [Text Block]"
       }
      }
     },
     "auth_ref": [
      "r80"
     ]
    },
    "ecd_AdjToCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AdjToCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Adjustment to Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r87"
     ]
    },
    "ecd_AdjToCompAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AdjToCompAxis",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Adjustment to Compensation [Axis]"
       }
      }
     },
     "auth_ref": [
      "r87"
     ]
    },
    "ecd_AdjToNonPeoNeoCompFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AdjToNonPeoNeoCompFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Adjustment to Non-PEO NEO Compensation Footnote [Text Block]"
       }
      }
     },
     "auth_ref": [
      "r87"
     ]
    },
    "ecd_AdjToPeoCompFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AdjToPeoCompFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Adjustment To PEO Compensation, Footnote"
       }
      }
     },
     "auth_ref": [
      "r87"
     ]
    },
    "IDT_AggregateAmountEquityAwardsAwardedInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountEquityAwardsAwardedInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount Equity Awards Awarded in Current Year [Member]",
        "documentation": "Aggregate Amount Equity Awards Awarded in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountEquityAwardsDidNotVestInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount Equity Awards did not Vest in Current Year [Member]",
        "documentation": "Aggregate Amount Equity Awards did not Vest in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_AggregateAmountEquityAwardsGrantInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountEquityAwardsGrantInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount Equity Awards Grant in Current Year [Member]",
        "documentation": "Aggregate Amount Equity Awards Grant in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_AggregateAmountEquityAwardsUnvestedInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountEquityAwardsUnvestedInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount Equity Awards Unvested in Current Year [Member]",
        "documentation": "Aggregate Amount Equity Awards Unvested in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_AggregateAmountEquityAwardsVestedInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountEquityAwardsVestedInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount Equity Awards Vested in Current Year [Member]",
        "documentation": "Aggregate Amount Equity Awards Vested in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]",
        "documentation": "Aggregate Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Amount of Equity Awards Vested upon Grant based upon Closing Price of Class B Common Stock [Member]",
        "documentation": "Aggregate Amount of Equity Awards Vested upon Grant based upon Closing Price of Class B Common Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "ecd_AggtErrCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AggtErrCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Erroneous Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r53",
      "r63",
      "r73",
      "r98"
     ]
    },
    "ecd_AggtErrCompNotYetDeterminedTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AggtErrCompNotYetDeterminedTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Erroneous Compensation Not Yet Determined"
       }
      }
     },
     "auth_ref": [
      "r56",
      "r66",
      "r76",
      "r101"
     ]
    },
    "ecd_AllAdjToCompMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AllAdjToCompMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "auth_ref": [
      "r87"
     ]
    },
    "ecd_AllExecutiveCategoriesMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AllExecutiveCategoriesMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "auth_ref": [
      "r94"
     ]
    },
    "ecd_AllIndividualsMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AllIndividualsMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure",
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r94",
      "r102",
      "r106",
      "r114"
     ]
    },
    "ecd_AllTradingArrangementsMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AllTradingArrangementsMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "auth_ref": [
      "r112"
     ]
    },
    "dei_AmendmentDescription": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "AmendmentDescription",
     "presentation": [
      "http://idt.net/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Description",
        "documentation": "Description of changes contained within amended document."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://idt.net/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "ecd_AwardExrcPrice": {
     "xbrltype": "perShareItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardExrcPrice",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Exercise Price"
       }
      }
     },
     "auth_ref": [
      "r109"
     ]
    },
    "ecd_AwardGrantDateFairValue": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardGrantDateFairValue",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fair Value as of Grant Date"
       }
      }
     },
     "auth_ref": [
      "r110"
     ]
    },
    "ecd_AwardTmgDiscLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardTmgDiscLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Award Timing Disclosures [Line Items]"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_AwardTmgHowMnpiCnsdrdTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardTmgHowMnpiCnsdrdTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Award Timing, How MNPI Considered"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_AwardTmgMethodTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardTmgMethodTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Award Timing Method"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_AwardTmgMnpiCnsdrdFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardTmgMnpiCnsdrdFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Award Timing MNPI Considered [Flag]"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_AwardTmgMnpiDiscTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardTmgMnpiDiscTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Award Timing MNPI Disclosure [Text Block]"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_AwardTmgPredtrmndFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardTmgPredtrmndFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Award Timing Predetermined"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_AwardUndrlygSecuritiesAmt": {
     "xbrltype": "decimalItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardUndrlygSecuritiesAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Underlying Securities"
       }
      }
     },
     "auth_ref": [
      "r108"
     ]
    },
    "ecd_AwardsCloseToMnpiDiscIndName": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardsCloseToMnpiDiscIndName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "verboseLabel": "Name",
        "label": "Awards Close in Time to MNPI Disclosures, Individual Name"
       }
      }
     },
     "auth_ref": [
      "r107"
     ]
    },
    "ecd_AwardsCloseToMnpiDiscTableTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "AwardsCloseToMnpiDiscTableTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Awards Close in Time to MNPI Disclosures, Table"
       }
      }
     },
     "auth_ref": [
      "r106"
     ]
    },
    "ecd_ChangedPeerGroupFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ChangedPeerGroupFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Changed Peer Group, Footnote"
       }
      }
     },
     "auth_ref": [
      "r85"
     ]
    },
    "ecd_CoSelectedMeasureAmt": {
     "xbrltype": "decimalItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "CoSelectedMeasureAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Company Selected Measure Amount"
       }
      }
     },
     "auth_ref": [
      "r86"
     ]
    },
    "ecd_CoSelectedMeasureName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "CoSelectedMeasureName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Company Selected Measure Name"
       }
      }
     },
     "auth_ref": [
      "r86"
     ]
    },
    "IDT_CommonStockClosingPrice": {
     "xbrltype": "perShareItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "CommonStockClosingPrice",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Common stock closing price",
        "documentation": "Common stock closing price."
       }
      }
     },
     "auth_ref": []
    },
    "ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "CompActuallyPaidVsCoSelectedMeasureTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Compensation Actually Paid vs. Company Selected Measure"
       }
      }
     },
     "auth_ref": [
      "r91"
     ]
    },
    "ecd_CompActuallyPaidVsNetIncomeTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "CompActuallyPaidVsNetIncomeTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Compensation Actually Paid vs. Net Income"
       }
      }
     },
     "auth_ref": [
      "r90"
     ]
    },
    "ecd_CompActuallyPaidVsOtherMeasureTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "CompActuallyPaidVsOtherMeasureTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Compensation Actually Paid vs. Other Measure"
       }
      }
     },
     "auth_ref": [
      "r92"
     ]
    },
    "ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "CompActuallyPaidVsTotalShareholderRtnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Compensation Actually Paid vs. Total Shareholder Return"
       }
      }
     },
     "auth_ref": [
      "r89"
     ]
    },
    "dei_CoverAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "CoverAbstract",
     "lang": {
      "en-us": {
       "role": {
        "label": "Cover [Abstract]",
        "documentation": "Cover page."
       }
      }
     },
     "auth_ref": []
    },
    "IDT_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Decrease in Amount Related to Fair Market Value Awards for Services [Member]",
        "documentation": "Decrease in Amount Related to Fair Market Value Awards for Services [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Decrease in Average Amount Equity Awards Grant in Current Year [Member]",
        "documentation": "Decrease in Average Amount Equity Awards Grant in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Decrease in Average Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]",
        "documentation": "Decrease in Average Amount of Equity Awards for Services Based upon Price of Class B Common Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://idt.net/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentType",
     "presentation": [
      "http://idt.net/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://idt.net/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r48"
     ]
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://idt.net/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r48"
     ]
    },
    "ecd_EqtyAwrdsAdjFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "EqtyAwrdsAdjFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Equity Awards Adjustments, Footnote"
       }
      }
     },
     "auth_ref": [
      "r84"
     ]
    },
    "ecd_EquityValuationAssumptionDifferenceFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "EquityValuationAssumptionDifferenceFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Equity Valuation Assumption Difference, Footnote [Text Block]"
       }
      }
     },
     "auth_ref": [
      "r88"
     ]
    },
    "ecd_ErrCompAnalysisTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ErrCompAnalysisTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Erroneous Compensation Analysis"
       }
      }
     },
     "auth_ref": [
      "r53",
      "r63",
      "r73",
      "r98"
     ]
    },
    "ecd_ErrCompRecoveryTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ErrCompRecoveryTable",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Erroneously Awarded Compensation Recovery [Table]"
       }
      }
     },
     "auth_ref": [
      "r50",
      "r60",
      "r70",
      "r95"
     ]
    },
    "ecd_ExecutiveCategoryAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ExecutiveCategoryAxis",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Executive Category [Axis]"
       }
      }
     },
     "auth_ref": [
      "r94"
     ]
    },
    "ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Forgone Recovery due to Disqualification of Tax Benefits, Amount"
       }
      }
     },
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r102"
     ]
    },
    "ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ForgoneRecoveryDueToExpenseOfEnforcementAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Forgone Recovery due to Expense of Enforcement, Amount"
       }
      }
     },
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r102"
     ]
    },
    "ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ForgoneRecoveryDueToViolationOfHomeCountryLawAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Forgone Recovery due to Violation of Home Country Law, Amount"
       }
      }
     },
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r102"
     ]
    },
    "ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ForgoneRecoveryExplanationOfImpracticabilityTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Forgone Recovery, Explanation of Impracticability"
       }
      }
     },
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r102"
     ]
    },
    "ecd_ForgoneRecoveryIndName": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "ForgoneRecoveryIndName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "verboseLabel": "Name",
        "label": "Forgone Recovery, Individual Name"
       }
      }
     },
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r102"
     ]
    },
    "IDT_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Increase in Amount Related to Fair Market Value Awards for Services [Member]",
        "documentation": "Increase in Amount Related to Fair Market Value Awards for Services [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Increase in Average Amount Equity Awards Awarded in Current Year [Member]",
        "documentation": "Increase in Average Amount Equity Awards Awarded in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Increase in Average Amount Equity Awards did not Vest in Current Year [Member]",
        "documentation": "Increase in Average Amount Equity Awards did not Vest in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Increase in Average Amount Equity Awards Unvested in Current Year [Member]",
        "documentation": "Increase in Average Amount Equity Awards Unvested in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Increase in Average Amount Equity Awards Vested in Current Year [Member]",
        "documentation": "Increase in Average Amount Equity Awards Vested in Current Year [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Increase in Average Amount of Equity Awards Vested upon Grant based upon Closing Price of ClassB Common Stock [Member]",
        "documentation": "Increase in Average Amount of Equity Awards Vested upon Grant based upon Closing Price of ClassB Common Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "ecd_IndividualAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "IndividualAxis",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure",
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Individual [Axis]"
       }
      }
     },
     "auth_ref": [
      "r57",
      "r67",
      "r77",
      "r94",
      "r102",
      "r106",
      "r114"
     ]
    },
    "ecd_InsiderTradingArrLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "InsiderTradingArrLineItems",
     "auth_ref": [
      "r112"
     ]
    },
    "ecd_InsiderTradingPoliciesProcLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "InsiderTradingPoliciesProcLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Insider Trading Policies and Procedures [Line Items]"
       }
      }
     },
     "auth_ref": [
      "r49",
      "r118"
     ]
    },
    "ecd_InsiderTrdPoliciesProcAdoptedFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "InsiderTrdPoliciesProcAdoptedFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingPoliciesProc"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Insider Trading Policies and Procedures Adopted"
       }
      }
     },
     "auth_ref": [
      "r49",
      "r118"
     ]
    },
    "ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "InsiderTrdPoliciesProcNotAdoptedTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingPoliciesProc"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Insider Trading Policies and Procedures Not Adopted"
       }
      }
     },
     "auth_ref": [
      "r49",
      "r118"
     ]
    },
    "ecd_MeasureName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "MeasureName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Name"
       }
      }
     },
     "auth_ref": [
      "r86"
     ]
    },
    "ecd_MnpiDiscTimedForCompValFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "MnpiDiscTimedForCompValFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "MNPI Disclosure Timed for Compensation Value"
       }
      }
     },
     "auth_ref": [
      "r105"
     ]
    },
    "ecd_MtrlTermsOfTrdArrTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "MtrlTermsOfTrdArrTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Material Terms of Trading Arrangement"
       }
      }
     },
     "auth_ref": [
      "r113"
     ]
    },
    "ecd_NamedExecutiveOfficersFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NamedExecutiveOfficersFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Named Executive Officers, Footnote [Text Block]"
       }
      }
     },
     "auth_ref": [
      "r87"
     ]
    },
    "us-gaap_NetIncomeLoss": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://fasb.org/us-gaap/2025",
     "localname": "NetIncomeLoss",
     "crdr": "credit",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Income (Loss) Attributable to Parent",
        "documentation": "The portion of profit or loss for the period, net of income taxes, which is attributable to the parent."
       }
      }
     },
     "auth_ref": [
      "r0",
      "r1",
      "r2",
      "r3",
      "r4",
      "r5",
      "r6",
      "r7",
      "r8",
      "r9",
      "r10",
      "r11",
      "r12",
      "r13",
      "r14",
      "r15",
      "r16",
      "r17",
      "r18",
      "r19",
      "r20",
      "r21",
      "r22",
      "r23",
      "r24",
      "r25",
      "r26",
      "r27",
      "r28",
      "r29",
      "r30",
      "r31",
      "r32",
      "r33",
      "r34",
      "r35",
      "r36",
      "r37",
      "r38",
      "r39",
      "r40",
      "r41",
      "r42",
      "r43",
      "r44",
      "r45",
      "r46",
      "r47",
      "r119"
     ]
    },
    "ecd_NonGaapMeasureDescriptionTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NonGaapMeasureDescriptionTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Non-GAAP Measure Description"
       }
      }
     },
     "auth_ref": [
      "r86"
     ]
    },
    "ecd_NonPeoNeoAvgCompActuallyPaidAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NonPeoNeoAvgCompActuallyPaidAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Non-PEO NEO Average Compensation Actually Paid Amount"
       }
      }
     },
     "auth_ref": [
      "r83"
     ]
    },
    "ecd_NonPeoNeoAvgTotalCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NonPeoNeoAvgTotalCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Non-PEO NEO Average Total Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r82"
     ]
    },
    "ecd_NonPeoNeoMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NonPeoNeoMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Non-PEO NEO [Member]"
       }
      }
     },
     "auth_ref": [
      "r94"
     ]
    },
    "ecd_NonRule10b51ArrAdoptedFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NonRule10b51ArrAdoptedFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Non-Rule 10b5-1 Arrangement Adopted"
       }
      }
     },
     "auth_ref": [
      "r113"
     ]
    },
    "ecd_NonRule10b51ArrTrmntdFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "NonRule10b51ArrTrmntdFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Non-Rule 10b5-1 Arrangement Terminated"
       }
      }
     },
     "auth_ref": [
      "r113"
     ]
    },
    "IDT_NumberOfRestrictedSharesGranted": {
     "xbrltype": "sharesItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "NumberOfRestrictedSharesGranted",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Number of restricted shares grant",
        "documentation": "Number of restricted shares granted."
       }
      }
     },
     "auth_ref": []
    },
    "ecd_OtherPerfMeasureAmt": {
     "xbrltype": "decimalItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "OtherPerfMeasureAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Other Performance Measure, Amount"
       }
      }
     },
     "auth_ref": [
      "r86"
     ]
    },
    "ecd_OutstandingAggtErrCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "OutstandingAggtErrCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Outstanding Aggregate Erroneous Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r55",
      "r65",
      "r75",
      "r100"
     ]
    },
    "IDT_OutstandingAndUnvestedEquityAwardsMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "OutstandingAndUnvestedEquityAwardsMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Outstanding and Unvested Equity Awards [Member]",
        "documentation": "Outstanding and Unvested Equity Awards [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "IDT_OutstandingCommonStockPercentage": {
     "xbrltype": "percentItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "OutstandingCommonStockPercentage",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Outstanding common stock percentage",
        "documentation": "Outstanding common stock percentage."
       }
      }
     },
     "auth_ref": []
    },
    "IDT_OutstandingEquityAwardsMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://idt.net/20250731",
     "localname": "OutstandingEquityAwardsMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Outstanding Equity Awards [Member]",
        "documentation": "Outstanding Equity Awards [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "ecd_OutstandingRecoveryCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "OutstandingRecoveryCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r58",
      "r68",
      "r78",
      "r103"
     ]
    },
    "ecd_OutstandingRecoveryIndName": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "OutstandingRecoveryIndName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "verboseLabel": "Name",
        "label": "Outstanding Recovery, Individual Name"
       }
      }
     },
     "auth_ref": [
      "r58",
      "r68",
      "r78",
      "r103"
     ]
    },
    "ecd_PayVsPerformanceDisclosureLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PayVsPerformanceDisclosureLineItems",
     "auth_ref": [
      "r81"
     ]
    },
    "ecd_PeerGroupIssuersFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PeerGroupIssuersFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Peer Group Issuers, Footnote"
       }
      }
     },
     "auth_ref": [
      "r85"
     ]
    },
    "ecd_PeerGroupTotalShareholderRtnAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PeerGroupTotalShareholderRtnAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Peer Group Total Shareholder Return Amount"
       }
      }
     },
     "auth_ref": [
      "r85"
     ]
    },
    "ecd_PeoActuallyPaidCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PeoActuallyPaidCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "PEO Actually Paid Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r83"
     ]
    },
    "ecd_PeoMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PeoMember",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "PEO [Member]"
       }
      }
     },
     "auth_ref": [
      "r94"
     ]
    },
    "ecd_PeoName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PeoName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "PEO Name"
       }
      }
     },
     "auth_ref": [
      "r87"
     ]
    },
    "ecd_PeoTotalCompAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PeoTotalCompAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "PEO Total Compensation Amount"
       }
      }
     },
     "auth_ref": [
      "r82"
     ]
    },
    "ecd_PnsnBnftsAdjFnTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PnsnBnftsAdjFnTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pension Benefits Adjustments, Footnote"
       }
      }
     },
     "auth_ref": [
      "r83"
     ]
    },
    "ecd_PvpTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PvpTable",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pay vs Performance Disclosure [Table]"
       }
      }
     },
     "auth_ref": [
      "r81"
     ]
    },
    "ecd_PvpTableTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "PvpTableTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pay vs Performance [Table Text Block]"
       }
      }
     },
     "auth_ref": [
      "r81"
     ]
    },
    "ecd_RecoveryOfErrCompDisclosureLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "RecoveryOfErrCompDisclosureLineItems",
     "auth_ref": [
      "r50",
      "r60",
      "r70",
      "r95"
     ]
    },
    "ecd_RestatementDateAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "RestatementDateAxis",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Restatement Determination Date [Axis]"
       }
      }
     },
     "auth_ref": [
      "r51",
      "r61",
      "r71",
      "r96"
     ]
    },
    "ecd_RestatementDeterminationDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "RestatementDeterminationDate",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Restatement Determination Date"
       }
      }
     },
     "auth_ref": [
      "r52",
      "r62",
      "r72",
      "r97"
     ]
    },
    "ecd_RestatementDoesNotRequireRecoveryTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "RestatementDoesNotRequireRecoveryTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Restatement does not require Recovery"
       }
      }
     },
     "auth_ref": [
      "r59",
      "r69",
      "r79",
      "r104"
     ]
    },
    "ecd_Rule10b51ArrAdoptedFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "Rule10b51ArrAdoptedFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 10b5-1 Arrangement Adopted"
       }
      }
     },
     "auth_ref": [
      "r113"
     ]
    },
    "ecd_Rule10b51ArrTrmntdFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "Rule10b51ArrTrmntdFlag",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 10b5-1 Arrangement Terminated"
       }
      }
     },
     "auth_ref": [
      "r113"
     ]
    },
    "ecd_StkPrcOrTsrEstimationMethodTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "StkPrcOrTsrEstimationMethodTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/ErrCompDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Stock Price or TSR Estimation Method"
       }
      }
     },
     "auth_ref": [
      "r54",
      "r64",
      "r74",
      "r99"
     ]
    },
    "ecd_TabularListTableTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TabularListTableTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Tabular List, Table"
       }
      }
     },
     "auth_ref": [
      "r93"
     ]
    },
    "ecd_TotalShareholderRtnAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TotalShareholderRtnAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Shareholder Return Amount"
       }
      }
     },
     "auth_ref": [
      "r85"
     ]
    },
    "ecd_TotalShareholderRtnVsPeerGroupTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TotalShareholderRtnVsPeerGroupTextBlock",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/PvpDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Shareholder Return Vs Peer Group"
       }
      }
     },
     "auth_ref": [
      "r92"
     ]
    },
    "ecd_TradingArrAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TradingArrAxis",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Trading Arrangement [Axis]"
       }
      }
     },
     "auth_ref": [
      "r112"
     ]
    },
    "ecd_TradingArrByIndTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TradingArrByIndTable",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Trading Arrangements, by Individual [Table]"
       }
      }
     },
     "auth_ref": [
      "r114"
     ]
    },
    "ecd_TrdArrAdoptionDate": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrAdoptionDate",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Adoption Date"
       }
      }
     },
     "auth_ref": [
      "r115"
     ]
    },
    "ecd_TrdArrDuration": {
     "xbrltype": "durationItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrDuration",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Arrangement Duration"
       }
      }
     },
     "auth_ref": [
      "r116"
     ]
    },
    "ecd_TrdArrExpirationDate": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrExpirationDate",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Expiration Date"
       }
      }
     },
     "auth_ref": [
      "r116"
     ]
    },
    "ecd_TrdArrIndName": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrIndName",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "verboseLabel": "Name",
        "label": "Trading Arrangement, Individual Name"
       }
      }
     },
     "auth_ref": [
      "r114"
     ]
    },
    "ecd_TrdArrIndTitle": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrIndTitle",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title"
       }
      }
     },
     "auth_ref": [
      "r114"
     ]
    },
    "ecd_TrdArrSecuritiesAggAvailAmt": {
     "xbrltype": "sharesItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrSecuritiesAggAvailAmt",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Available"
       }
      }
     },
     "auth_ref": [
      "r117"
     ]
    },
    "ecd_TrdArrTerminationDate": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "TrdArrTerminationDate",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Termination Date"
       }
      }
     },
     "auth_ref": [
      "r115"
     ]
    },
    "ecd_UndrlygSecurityMktPriceChngPct": {
     "xbrltype": "pureItemType",
     "nsuri": "http://xbrl.sec.gov/ecd/2025",
     "localname": "UndrlygSecurityMktPriceChngPct",
     "presentation": [
      "http://xbrl.sec.gov/ecd/role/AwardTimingDisclosure"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Underlying Security Market Price Change"
       }
      }
     },
     "auth_ref": [
      "r111"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://fasb.org/us-gaap/role/ref/legacyRef",
   "Topic": "220",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "2",
   "Subparagraph": "(SX 210.5-03(20))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483621/220-10-S99-2"
  },
  "r1": {
   "role": "http://fasb.org/us-gaap/role/ref/legacyRef",
   "Topic": "230",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "45",
   "Paragraph": "28",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147482740/230-10-45-28"
  },
  "r2": {
   "role": "http://fasb.org/us-gaap/role/ref/legacyRef",
   "Topic": "942",
   "SubTopic": "220",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1",
   "Subparagraph": "(SX 210.9-04(22))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147478524/942-220-S99-1"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "105",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "65",
   "Paragraph": "9",
   "Subparagraph": "(e)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479343/105-10-65-9"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "205",
   "SubTopic": "20",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "7",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483499/205-20-50-7"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "220",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "45",
   "Paragraph": "1A",
   "Subparagraph": "(a)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147482790/220-10-45-1A"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "220",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "45",
   "Paragraph": "1B",
   "Subparagraph": "(a)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147482790/220-10-45-1B"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "220",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "6",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147482765/220-10-50-6"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "235",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S50",
   "Paragraph": "1",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480738/235-10-S50-1"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "235",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1",
   "Subparagraph": "(SX 210.4-08(g)(1)(i))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480678/235-10-S99-1"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "235",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1",
   "Subparagraph": "(SX 210.4-08(g)(1)(ii))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480678/235-10-S99-1"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "235",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1",
   "Subparagraph": "(SX 210.4-08(k)(2))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480678/235-10-S99-1"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "1",
   "Subparagraph": "(b)(2)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-1"
  },
  "r13": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "11",
   "Subparagraph": "(a)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-11"
  },
  "r14": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "11",
   "Subparagraph": "(b)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-11"
  },
  "r15": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "3",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-3"
  },
  "r16": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "4",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-4"
  },
  "r17": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "6",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-6"
  },
  "r18": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "8",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-8"
  },
  "r19": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "250",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "9",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147483443/250-10-50-9"
  },
  "r20": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "260",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "45",
   "Paragraph": "60B",
   "Subparagraph": "(a)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147482689/260-10-45-60B"
  },
  "r21": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "323",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "3",
   "Subparagraph": "(c)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147481687/323-10-50-3"
  },
  "r22": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1A",
   "Subparagraph": "(SX 210.13-01(a)(4)(i))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1A"
  },
  "r23": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1A",
   "Subparagraph": "(SX 210.13-01(a)(4)(iii)(A))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1A"
  },
  "r24": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1A",
   "Subparagraph": "(SX 210.13-01(a)(4)(iv))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1A"
  },
  "r25": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1A",
   "Subparagraph": "(SX 210.13-01(a)(5))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1A"
  },
  "r26": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1B",
   "Subparagraph": "(SX 210.13-02(a)(4)(i))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1B"
  },
  "r27": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1B",
   "Subparagraph": "(SX 210.13-02(a)(4)(iii)(A))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1B"
  },
  "r28": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1B",
   "Subparagraph": "(SX 210.13-02(a)(4)(iii)(B))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1B"
  },
  "r29": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1B",
   "Subparagraph": "(SX 210.13-02(a)(4)(iv))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1B"
  },
  "r30": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1B",
   "Subparagraph": "(SX 210.13-02(a)(5))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1B"
  },
  "r31": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "470",
   "SubTopic": "20",
   "Name": "Accounting Standards Codification",
   "Section": "65",
   "Paragraph": "4",
   "Subparagraph": "(f)(4)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147481538/470-20-65-4"
  },
  "r32": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "480",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S45",
   "Paragraph": "3",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479887/480-10-S45-3"
  },
  "r33": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "480",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S50",
   "Paragraph": "3",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479857/480-10-S50-3"
  },
  "r34": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "480",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "3A",
   "Subparagraph": "(24)(d)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480244/480-10-S99-3A"
  },
  "r35": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "718",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "65",
   "Paragraph": "17",
   "Subparagraph": "(d)(1)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480336/718-10-65-17"
  },
  "r36": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "740",
   "SubTopic": "323",
   "Name": "Accounting Standards Codification",
   "Section": "65",
   "Paragraph": "2",
   "Subparagraph": "(g)(3)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147478666/740-323-65-2"
  },
  "r37": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "805",
   "SubTopic": "60",
   "Name": "Accounting Standards Codification",
   "Section": "65",
   "Paragraph": "1",
   "Subparagraph": "(g)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147476176/805-60-65-1"
  },
  "r38": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "815",
   "SubTopic": "40",
   "Name": "Accounting Standards Codification",
   "Section": "65",
   "Paragraph": "1",
   "Subparagraph": "(f)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480175/815-40-65-1"
  },
  "r39": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "825",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "50",
   "Paragraph": "28",
   "Subparagraph": "(f)",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147482907/825-10-50-28"
  },
  "r40": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "944",
   "SubTopic": "220",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1",
   "Subparagraph": "(SX 210.7-04(18))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147477250/944-220-S99-1"
  },
  "r41": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "946",
   "SubTopic": "220",
   "Name": "Accounting Standards Codification",
   "Section": "45",
   "Paragraph": "7",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479105/946-220-45-7"
  },
  "r42": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "946",
   "SubTopic": "220",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1",
   "Subparagraph": "(SX 210.6-07(9))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479134/946-220-S99-1"
  },
  "r43": {
   "role": "http://www.xbrl.org/2003/role/disclosureRef",
   "Topic": "946",
   "SubTopic": "220",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "3",
   "Subparagraph": "(SX 210.6-09(1)(d))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479134/946-220-S99-3"
  },
  "r44": {
   "role": "http://www.xbrl.org/2003/role/exampleRef",
   "Topic": "220",
   "SubTopic": "40",
   "Name": "Accounting Standards Codification",
   "Section": "55",
   "Paragraph": "14",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147476153/220-40-55-14"
  },
  "r45": {
   "role": "http://www.xbrl.org/2003/role/exampleRef",
   "Topic": "220",
   "SubTopic": "40",
   "Name": "Accounting Standards Codification",
   "Section": "55",
   "Paragraph": "21",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147476153/220-40-55-21"
  },
  "r46": {
   "role": "http://www.xbrl.org/2003/role/exampleRef",
   "Topic": "220",
   "SubTopic": "40",
   "Name": "Accounting Standards Codification",
   "Section": "55",
   "Paragraph": "4",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147476153/220-40-55-4"
  },
  "r47": {
   "role": "http://www.xbrl.org/2003/role/exampleRef",
   "Topic": "946",
   "SubTopic": "830",
   "Name": "Accounting Standards Codification",
   "Section": "55",
   "Paragraph": "10",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147479168/946-830-55-10"
  },
  "r48": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r49": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "16",
   "Subsection": "J",
   "Paragraph": "a"
  },
  "r50": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1"
  },
  "r51": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "i"
  },
  "r52": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "A"
  },
  "r53": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "B"
  },
  "r54": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "C"
  },
  "r55": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "D"
  },
  "r56": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "E"
  },
  "r57": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "ii"
  },
  "r58": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "1",
   "Subparagraph": "iii"
  },
  "r59": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Section": "6",
   "Subsection": "F",
   "Paragraph": "2"
  },
  "r60": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a"
  },
  "r61": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "1"
  },
  "r62": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "i"
  },
  "r63": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "ii"
  },
  "r64": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "iii"
  },
  "r65": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "iv"
  },
  "r66": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "v"
  },
  "r67": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "2"
  },
  "r68": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "a",
   "Subparagraph": "3"
  },
  "r69": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Section": "19",
   "Paragraph": "b"
  },
  "r70": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a"
  },
  "r71": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "1"
  },
  "r72": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "i"
  },
  "r73": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "ii"
  },
  "r74": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "iii"
  },
  "r75": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "iv"
  },
  "r76": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "1",
   "Sentence": "v"
  },
  "r77": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "2"
  },
  "r78": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "a",
   "Subparagraph": "3"
  },
  "r79": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form N-CSR",
   "Section": "18",
   "Paragraph": "b"
  },
  "r80": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v"
  },
  "r81": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "1"
  },
  "r82": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "2",
   "Subparagraph": "ii"
  },
  "r83": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "2",
   "Subparagraph": "iii"
  },
  "r84": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "2",
   "Subparagraph": "iii",
   "Sentence": "B",
   "Clause": "1",
   "Subclause": "ii"
  },
  "r85": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "2",
   "Subparagraph": "iv"
  },
  "r86": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "2",
   "Subparagraph": "vi"
  },
  "r87": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "3"
  },
  "r88": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "4"
  },
  "r89": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "5",
   "Subparagraph": "i"
  },
  "r90": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "5",
   "Subparagraph": "ii"
  },
  "r91": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "5",
   "Subparagraph": "iii"
  },
  "r92": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "5",
   "Subparagraph": "iv"
  },
  "r93": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "6"
  },
  "r94": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "v",
   "Paragraph": "6",
   "Subparagraph": "i"
  },
  "r95": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1"
  },
  "r96": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "i"
  },
  "r97": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "A"
  },
  "r98": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "B"
  },
  "r99": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "C"
  },
  "r100": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "D"
  },
  "r101": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "i",
   "Sentence": "E"
  },
  "r102": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "ii"
  },
  "r103": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "1",
   "Subparagraph": "iii"
  },
  "r104": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "w",
   "Paragraph": "2"
  },
  "r105": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "1"
  },
  "r106": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "2"
  },
  "r107": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "2",
   "Subparagraph": "ii",
   "Sentence": "A"
  },
  "r108": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "2",
   "Subparagraph": "ii",
   "Sentence": "C"
  },
  "r109": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "2",
   "Subparagraph": "ii",
   "Sentence": "D"
  },
  "r110": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "2",
   "Subparagraph": "ii",
   "Sentence": "E"
  },
  "r111": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "402",
   "Subsection": "x",
   "Paragraph": "2",
   "Subparagraph": "ii",
   "Sentence": "F"
  },
  "r112": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "a"
  },
  "r113": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "a",
   "Paragraph": "1"
  },
  "r114": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "a",
   "Paragraph": "2",
   "Subparagraph": "A"
  },
  "r115": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "a",
   "Paragraph": "2",
   "Subparagraph": "B"
  },
  "r116": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "a",
   "Paragraph": "2",
   "Subparagraph": "C"
  },
  "r117": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "a",
   "Paragraph": "2",
   "Subparagraph": "D"
  },
  "r118": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-K",
   "Number": "229",
   "Section": "408",
   "Subsection": "b",
   "Paragraph": "1"
  },
  "r119": {
   "role": "http://www.xbrl.org/2009/role/commonPracticeRef",
   "Topic": "470",
   "SubTopic": "10",
   "Name": "Accounting Standards Codification",
   "Section": "S99",
   "Paragraph": "1A",
   "Subparagraph": "(SX 210.13-01(a)(4)(ii))",
   "Publisher": "FASB",
   "URI": "https://asc.fasb.org/1943274/2147480097/470-10-S99-1A"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>18
<FILENAME>0001493152-25-020225-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001493152-25-020225-xbrl.zip
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M8,8:NS,[<DMEU:*&Z>K\W;$)RRR.D&5P ^B#W[MLIZY]3PPX8\MT:%N>[:2
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M1E%&5AZIH* @B5!25D0JRR$5D'],0)"-/5 1<1$1<:047 KY7TO8"LB* :9
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M<JOE0[<:?/BA,,4P3(,DFE4_+'\LO!!'R3ST\&7AH9/C*_V0YR:M@(O?VP<
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M!C/H[DVS-SUQ!CZ'N7P?OAV"+OG+J_8K^CQU7%=]?O*:<E:F-A:'H>\[TQC
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M@G$Y9J7-IFDNKVO>7D+SB&W$/,&@7C(6#AVZ'8?VEN2!8\$I1\+]@V:S%S-
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MQ'>>A]=0T;H;S-EESH0'+F7S)"'E[Y8T&+01=IEH%<I. K34D46=^U0CWTF
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MS(.?\9ZI2M4N;%(&%;;5S!XJP288DS7@ 0=)!,_+=+F'1$KQ(FQ.(N1_**;
M87J+/#%4BBA9+P]R;%MX]-SGTS$6#Q!9+"-G&'N <W@D49A>C[%CCY2;6'E
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MCEH_.[[AHRL$.&_F6HB3>7P$*<K5:>'I4N4>8:0MHA<R=07V3(1V$O M4*1
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M\TZU(;0]3XBKL8311?$ P)19^73#OHASCR>>?",8U:2 T%P3(Z8KPW!9JO2
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M G!S )%M.J_OT_<X13R#M8B*/A4*/GD0BG!5&?GZ38<6K6SAA9YRNN#D99V
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M5"+?:2R1?[NPSNHQB]+O$9^ONQP;H5NG\Z\S<2Z5'G<;2X\+A2[JW7G!6VS
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M7![]<7D)?[+>Z3'\T_OTU^7)9:T7T%C5,E,*W:(>Z"B-"MU7H,P-\]K7-')
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MBVHSK?[;(,$7BS5N-*X%'DBSX<AOI"H[#"%,S3W+Y_@MIK^T!)'Q)S1I,%2
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M;:GDHY9*=FVII#W9/Z1$UXBB> <>@_P06\;QUK;^P]9_[%']1^/YOV#L<)I
M9G#(B.0(]:+-ZA7.9CR7L-LQ)F['4PSL=$_=SIFR,YM246>3KARULLX"+XO,
M8D_]'I_Z!R.SU)ULQLY ;RA+ H(96 V-8;IN32NS<=09.Y[\^(.:_D-*R/"X
M0X4JL!R*0AA0(<TZQ77*9UEVW/#0#[<FF*P,LC)H/V30CZ XUHFA[M ][@T6
M@T.$^(;%5W"EGTLX.?R.P=H)-*,1$9_&68R1)([5$<([/@/^Y>05_IL]ZO:H
MVZ.^%C@(?<YE*H=!$+RK*P2'S@CV9C#HT)EW5:<81W^-R#":#,I@V$PU]/)
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M%L[4?(:G2[G9JB9T[!EZN]AKC:4&J<LXV&F&^D,_HS1EHW#,4]6*3%/1(R?
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ME!5I'B*VV\TT"$4+GVU43U0J(E1\T;G!F5*H^W!0%$XU]K 9"CQUQ'S%>P1
M/@_=3,4XBQ.XE2_&(1",9"*(+0MD!S]J$^S,50(K%M#(X#3#]*7?PE'(KL8&
MX987L*"%,TG@4HU8R]TPJ7>CQ_7Z-$\X"48Y?T^_!Z^/1HNJYE1Z8S5X&".M
M\#*!2KL:K=6M5"37P1CL*,X?4)4Z;Q/B_:%)#Y]P@VM-,-98>,3_=0:=EVH+
M$1DSQF$XB0?2D,%T,<,VXY>5+]XN4/9:Q0NFPLM2GG/L S$Q0GIJ9,(T'^&P
MYCF7^QGK)]<,7I:9"=[I[R*,?/?.$YI@2Z((:F1 WCO]] )PL,0H,[@U#03
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M%T"=%LY6Z]:A0&BLF:+XD-*N5'M@V <FGD:>S&/LJXKS#'-CLMF7NY#*]S:
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M+.-MOF5L86NJNS+@BG;<%<?NRK8:$U3M]*J-*8Z+W9B-$_P75B%R,[66O;J
M3HD[K(3515<KMD[5MMJMV\J92MHM(R-:>Y;LAFQY0RI9B;I-Z>_SINPKN@G0
M??&?/,AN6[\G8)9:1WG3TV'956TMP6K1GIJC/37.,P1S\@ED5,F,L]&$20F:
M?H5[N*Q?P3EX>_E7>E@4V+>J3X?[]1QF!^=WKCS]G"#6Y$SE7N@!:;DC?X2%
M_\&5SJY=BU1VNI4"@ XSF'Z\1PUH>/,61?BH*IK I3$IB=D8%?$RVJ47V[RP
MP)?B"9S'3-42\8O/$UC$I3F=<JE\2];\4]<<$Q)3.0FNGHQBR'P4W>T:ZT7E
M NAD*SCM-"V4TGA4^5&MA>$EW"?9MG>'C'L56@MU4A53#1M5#D$1Z5,C&TCN
MWU9!'(C\SD=SDH.&HY81ON5!0"AVLLRJB#=5!D#!2V+G)E:B5UI)ZGM@G&4^
MN_&.A_3!P4B_'TJ<'A>JH1@PVFR6GWKGP!AT@(TG_)IA('(*,#E4;!5K2#HC
M1:#ZO+A^8//<OO'0]-TEY$-;0OZH)>1#6T*^@^=FG9;J[S38Q8!$_%_A)80D
M9LW6'1F1NJ),2*.Q%H!SI91%@:UD0,1QQH>_&F/5K#):CVX0!4JU8!IE4<5M
MT.3"RJ9JEQL5X#),+!:RI.8S/!W3YG \@3'.4,%BZ1?:?@1 &*5!2BI5/\.$
M;3+T>ZJJHU 38KV=CY8M-1QSIYM#+:]!QD04&+?2$JC Y1$6K<7!LQ4NML(%
MR7SW(*@0/5L9/4XXRFA^T1&5C:$NRH64*ELF0>8Z%Z_??WU[#G8.?#;VYD%&
M.#H$;D:X]1*(FG%&&M9!2MA,GKO$R&(,)$,)6FK<I.83.]_!'J@M'*AS7S5O
M-ZL8K8Q$.2A0?OF8J99K6<RI#]?A0GAD06D_!".@>/QK?-;G]Q__O+B\=)WW
M;[\ZOX?QR M=YP./^>*Q,"[_D 8KN8Z>LD;T?OQR:4^?/7U;.'W :;]83KLO
MDYRLC].(/XX7PA0[PQ@8EFL,1 '<1%-4S0EO])EW2TTEN9P")R4NNBCL397F
M=LL/"^NHF:G%\<0?&-MM>=[R_/W^CTLHQ]3)6_"TV@7+99;+:KCL@A-ZS82K
MZH3"=2_@L57+X#P..*^#PLURG;4<M\#&VF.Q]J.5<FO0I:GPP#CTXQG6<L"Z
MA[<F6!Y'",);*]PLL]6H5)Q)VRP*RJW,%/P$=1P):ZU9UJICK?<@?ZZPL[,A
MXH&RT!B\R%\V]TL-;+;<9[FOCOMX"ETSWC/2PFFF &!1E^;S#!Z''V8(]3"V
M3&==A6UP\>M/EY?-0,4P*6+]"BL1:_4Q ?4TA'8A U%@QCN%W1,%M(V5@9;-
M:MCLS_BF(6PGUU#$$V?NW6+[@.4KRU>+?/5%-)9=.*S]:))XN<\\9AGK,1AK
MS4;;\<X;;9=BG"?-.#6"FX?!6$38%,5CF+F/9!PG2>#'B>5=ZW!L@W>-B2!-
MT;>,X(QU0*P&7T]()I!!1-FXAOZP=4 LFZW?S[TXN@QF&LH6:Z"(USX'$9:2
M6TZSG+8>@3;RQM\$&'B3/!JSG@TRFYNUQMV.)GOEE UR4'!:"+70\.2YTC0Y
M.4C-,K)EY&UX*0^#;,^$-R-X4Y;;>IRDDP@YB8:KJ>5D&C0XR]VH9K,*&*1\
MGZ:S5CB7N&TXX-WMAUYKW_GHMQ*@ZUL-\_P!$5C+J->__CS:IS[T/4:MDFW@
MK<\%(-#^O<1>+KZ<9TS@4SC/*XI9"RN4)=GS0?6",]GRS]U^JOQA&1[3-+B:
MRA=1=U'"$F>58/,*:'F$Y2EFEH2W+8DNK;.)!"P'A 59&:B*\X[TY 2!E*E&
M6\'8!UF!'L^EC@PHI?M>N"/7(_-%9 19IZ>HZ/+;EB_" %1[F49=2+E81*G>
M$WL6J.:2)Q:K@1=I/D+,R3D%*Q0A!SS9UX3"F@E$+)(+ZV4MM6R'"$C5&[ZD
M!]-X$:5G%#(!(]JC+?;FC><5D9 V.ZN4_ =RX/L,%BWU&,KH.@[S&;='3O*$
ML!0D-!8/NY4]1RW.P(E$8BR8PX&_XK1P6%$U%;BT56D&BS]#Y._J_+8LCK\9
MF/C\8S$K#>W%;:7)+'K$;POG[XCD: 9/R!"H* SI'4M-H,[4HVE)4_A61#0@
M"%NO76!"0C_F(7<Q07O!2XIPPHU-B/B5)Q&#>^%N\LLJ9"8<CRVY"?7Z2$1B
M$J@.[S$VPQ[!O6CZF@Y#5<;+2.L8KZ)=^8+347+:"5C#]!97H T/3,#&0-PR
MGB!7.Q ;H9QP! '"483AXCSLRJ@7<S /V3HX/T^8 W-P>)Y&79/0'AQ9F^';
MFP50YC0??%@+V4[&1_CI$S@#Z \\"\"H8PL8Q5<\$F#4L06,>DI&__80J%!2
M6;OST9:_!@"LOW_OLI=[<!<.V!GA@/76C@/6MSA@!N2OQ0&SP5L;O-T"#E@I
M;+$-(##7N0+W4 X:G21"8NI.POB&L9.*;S%8 J*+24Q1?"P#$&M$AP4;LZ=V
M2Z=V36!C=R*(+4$%>\-!H!(J6,/&&(L@9H_43AVI+V!DYM%XVHB/;P*P3?&<
MZ G3*CHMV_X5%)2:LZ@C[:RT+&];WMY&%U!SSL[GRJ C3RZA@07DF!$&Y2P/
MLV .[*EJ]"A7P J% _.Z>,^65EE^WS*_-P9M*8P.$VZ5TXH'RU.0AR[\'HM;
M*;7)[$L>A)'!?4C/.^@1@4., @'6&KZH&IZ3IY@N!+\IP:_ S4KB,,0I/R8T
M@\H$N0\F@XMB[&&UAW47#ROX!++N09U6N#O"=<+)G 5X F0.W2U .]$46XJB
MZ;+YUJR;L3AONA "@XU@VR$0CVUOM*=G-T]/N6[#5'>5D-TLN.**"$P*X AL
MK#_*8BIX47 _K^3)HHMG\0-"$ED<@QN$)1<B26%M])%VLFD2YU?3(BB!#S8@
M(PO=YKSNO7;F DX]YP_LT;-';Q>/7A'FHCGTW>XKZ5X1,[_MO7'Q*"483S"2
M7&7,5)HE!P=&L3X.2FP(&*<KFFAT1ARE.08D2H!>KB[B*QFBF,G#EIDCP>("
ME%Y*<<"KQHC#6-I6PM>6)89Q$L!9X70F/.T-4.M[]D#; [V-CIP'(!K3F3:*
M"F5HW!F)VQ@/"7"YK)P<>6F0/OM&@QHJ-]1]<$?!1:]#!1=]UY2(W'K"I08K
MZC#BJ+8(VRPK5A7"<*<6#2ZE_*;.FT[ ;X]O4EN'\ 1D;RU+KT4@W^/.ST]*
MVXJ%M58L6'20'SN%/])AO]WS'>_ZR?XZ;69[J381$5 I(G;\9!ZU5H2WS@&6
M.CIGG9>'V.*#1T9\'PN!/5#"&T_5X&TX^S,\9? QB0CK:EAUMU.'XCF5^EA=
MM-NZ:-<A8)HJ$'DTL+'OWLIC=$MZHWILN!H^F\*; ",W.R(WTP 4DBP5\KG*
M_WLP Z4$I)P.7RI=I>?)>3,>00=^J*>[0"F^0"=I)+(;(2+G^/1E0X1.W^EV
MCU\J87'E)7Y)5G"OK-615D?NUKFWM7M[> JLLGK8+!9"CD@DQPN?>^Q1/53X
MLU HI.#B"-AZT*LH$\O$5I3OU*FPI:I/Y&18\=[<%R'1C@.F9_,P2$&X6R:T
MXGFGN-I65MO*ZL<_UL]=MWSAH]0XN*//FQ'X(F4C*-0T$YE;C[%&>JD<ENJP
M)T%>1&-")'9$084*60T[#+AV=O;2*D*K")^0(K1="\_AG%G-U%PS&3I&)3LJ
MB8[*09'90CHC\F*%8D3*1.5JFF5A//-P:2A6%4,[/JVCC$B9@6%:>[)D8FF,
M9=*3/ R;X6.C 0H/ A/4'DJK_';JE-NF(]MT9#7G+I2UEO2>*EI@1TX=%WFF
ML((=5>S9L.Q9N>8IHI.A=5G:+)^*).#3RW=7ATQV%J$2U:?-< "/AT0VG;#*
MR7IH2<?LCO16!25VQ<FI1SR^^\#=#61\8H&,^8I' C(^>3Y QLVXW&HL:U;N
MO%EI&VKU_S5KJ+6%MM98_=&3FC6KTE"6*H8;RX>T$K2I.Y^RADD>9OP3JS?.
M3EZJ\$JS4 ^G'TR\:<-LU%:TBOVXE<-%(UU&M\[Q\4)E;K. DZSBI=DAQNKP
MP:6A)L7938O#RV1&<7:GA6M/LE7B3[")WO*\U5YK8%$TV1JQJ:D4GCV0P_8(
M_GLJHA8-C/"Y #HKC7D(@Y02,M2.;4RQP%^9=09Z>(;LX*G'=E@U?P.)H/$1
M/HV*,S$@: !:N8>HVCCDA9PHPK*BB7Z'_^1X0>815@1: O!!J/XFPETYV$ZV
M(;3DQ?Q21(=I#Q A(RRE\,61F,VG'BZE[_@Y#7R#7?O&=/'2P!O)6!_?RDMB
M<%'\7*_SA(=G8*?XYB>+V2DQ0/?K.,K3UOF-E_@+LUSL[*2MT_T^:L&]IYDZ
MM$M 7FJ;R?580/0I\. 77;GF;>2=I2BA>3G%#$/V+^)YBT8Z4GL?V1E4QK[B
M-J71H#B_<<EPT,J\1+S#+*970@YT<%;CT21G?P0'#Y;GD9(41)$AVR"EJ(II
M("7)D!@(!?%9F3*)?Z5BG,4)3R&2TR;5,,3J.YC3+]^8<96T)=L?]4^+H9<5
M9!^,QX@();&Y:",\;:H*IOAY(5<K96]'9R\5&@<U>]+;M^9>X// ))7[EQ-1
M_?*4XU[;.0>N0 HPA.WQ)%6:NIIZL &WK'Z49TBWI8&K/D-\=$]?XHIVNR?:
M]=2CH$ Q3.#1B5X)X[8\&HE!AV@&9X0S+GU0-;P JF6(WM@77&G!XYN8"'@+
M0?Q1O,L /U0=Y<8\V%;]J_<MUM$3<"PLSMP:R+R<SG+1+,_[+Q!]*9?AHE@6
M-&T7T8+X^,+Q>S$\[;B#WI!&I*E8,PD-E!(OAOV>.^QTG 5)U2S*O$RJO2\=
M==>9BO)48GFA5H0IYG;%%98BYX'?.&# 4WI!IF=Z"ES*@Z 9%8F@D$!A"%;!
MQ4 [$_JEJF243FQ6T*_GX974*-#B)R!B4=9R8H%'V:%J+RG0);1<-0^PFBJ=
MU? ,W 5T&4AU\PQK!5TGS7KTJH /0%^F,]9YX"^P^^ Y.,P9_86&7:J@'L&9
M %,H(7?LS<6GMO.'(-[% 8!)CBN!@=U(@F<A>:#_:>0R+R4\.#;+!>2T\,8L
M4L\1R ?&<&:BKL2LN'/<;U)-[B3BJ*"MZ;KH]Z")ZA&I$].%)/>,=ZQDHJ#N
M_9XE0 4PECEBFV8_@O,8-&Q"X:7Q0; EMT#(=9#$$;'GTPIJ6(5M%?9ZR/S@
MP;$-XT:'#-4A>@FFSB:-[1DZNW=\YIZ<#-TE2KLW.-FDT@97Y,V[3Z[S(6EK
M<@-4$=J7!*D)[NJ<H ^EFY&2S8_1.#A=S2"I\ 6TWI^'7A2IKH9"$7#FFIZ%
M"3#65L55H,RRP&,ZRJJSW8@6$/E P"VJ&P=U)@7ML.1:L(H6H,V1@%GL"^G'
MPS+^(\8<*\-7J1F)2]H"+FM$"O4UMDN;($FC *&B*8C@G3-*GH8R(\CE!J8W
MS'E1#O(UY9$)UAZ@AYV2.3<QS3F3N#I%3B:%A^Z\C".&&D/W(8A^V@RJCY?0
M$PI )N*=S>DN_D\;))_58E:+[;$6>QV$S9S.SR(10>)5W,Y">PW..JB>EFFO
MP;#C=C:EO;#[30*GO>@/B ZB4T6K6-7*\"O8SM(->M&51 7-J&#_X(I"@S$X
M2/R<Z\#C>!V%2H&@MV(BD@2(O<SB\3?G+](,< '*3[6:^5QJ-:GFFCL2L-R>
M#&6R4Y)F%',6LWD8W[*S<I4(=EM49ZWI:>!5DJ0 _''GP,,-;=;.B"XM#:Y7
M,.IICB!V]Z8+\U28LR)GDY>"KVM$!CU4;^JR'2@]2W+R8=MYRVFN:N "8Q2I
MUZS\SO=N07P>P?\8 6AB^E61!A4U9QXG/YB"&NCXHA\:7 =I\^X6PV?E.( L
MFV(_6_N]J8FZ$$K#2_Y1TN4<M6]8W%3WVBKF@1#<7@*^)\(KX/[4VG?MTJD)
MRJ9:,[CM(/I6.@?:F'5+16"X!(7%D0EOECJ5-"]55"HHB>:!(HHU3$4X)ZF0
M3KVY4!D9M08R9)6*K!JSJ-*!400^-PUW!O,UQ>,V9CC!3_4_[;6K7&LI64MI
M8_Z^B#SP=6:-SM5Y.BTLD(7H?/=TZ/:7VTK=DR6VDK9_&M%2]?11DB)]0<E[
MYP?E<\1+(V2<[T'*;G>APLCSE>YH"NM-C5P-ZZ:4"XM0/G&^1-R[9NT.%N%7
M8Z^DEH5 ^D)QA2XAULL+/.C-(\-^D,Y!<*:EI0'7-^:N4T$A_.LXO&;#$_>(
M'^I1OI/VU!<>52F2SYU-@Z39'E&^ -^[0-RF%'5"VD=[^=-@+C5"$3J!*R-8
M#/SJ\=S>^J:XC3C8=_?1G=H^ND?MHSM]/GUT-H1D#:/G:AB]]< 6::3E_@9=
MA4H=W%H17-?5+4CGW74$EKZJ4CK^?D/FT'E:ZY^^F09BXGQ5[4>WSB>NJ.+X
MMWJ3X,<R("I'0(7 6?$LPS.O.)WD- :+07>=03$N?<A,+#2'9,D7F3/H\X.-
MAU&N<BN_8: MR=##TC[82HQRBB>5RIO1"UY9KLUV$B<;""-$0OD^=$EDHH?N
M(8HV 2ZI&$^=J8<SO["6D,NWC12\#II0)$7GE*3G_D-ID *\4@6,RB6;Z-#+
M\FUA\A25?%!+'0:3R+;/82^;!G*"I  ?E[%+3C$!!XY%NWHZR(RNNAFP=:JH
MG+F[&1'%.UTE<3ZG,A7*#'X+PE!%&V5U122P(]!+N*)""#Y,V%UTK3*,&',A
MQ'_P'YHY#Y(]RQ$\FWNRAH,U'%:1^0=5DS<Z:9=M6?7H!QR]ER9$V8*X1]%U
MWRDU4?0:5@IP'3R3@D\2J>HN6K0?O !3U$J+("UFM$.5.OY 9IQC]FE]E (M
MBIGW#Y6WF>5T,H 1(- KF0]*;X,&:VA'%=47E8CT_I:.[6MC"K8*>:EH76*%
M?R#2/2-_[]H0$=!?G4+R2XK^BH!K.C&59=1)86J-DJ&F&5+8W/,\F<?8>A+G
M6<C=%MC"R*T:Y7O#455#B(K[M]#80P,9JY^G>,AO$K2)HR+)FJK8I.%+7.:C
M?^0,0#8<%Z_B)I0R">IA-=9XJS08F\1?1)TEV*OMTGUH]O8<3#0E?5+8.%_@
MW8HH;]OY&&-]:W0E%((7_D8YA$C.V'0"*!-^2[$HW[G0;3#2:4N+Z+JI"KC1
M99]:&??NH'S.DQ2[6EMRY]X%$V#"<Z,RX(NJ#+@H*@/.=67  5Z$2K77>56^
M]@]E$N@?T\^ZKPY=[ (0I!2=?WG ?F#]<V5"UVTM*X$HJ79.=:.UD8+3E+)&
MG<7<#X5H)2-P*&_<\D72)$FU35*T7'%]IRJ!$4D+3\7,,M[F^VH6MJ:Z*X.S
MH=H5Q^[*MHJG5?WHJHTICHO=F(T3_!?(U*1%]6M:]H+#,DZ"$9;5LKC#HD%=
MA+-BZ[ .T&[=ULY4TFYATGK56;(;LN4-J:0ZZC:EO\^;LL>.\L5_\B"[;?V>
MX(R+/2-_[\["FS)0335*ICTU1WMJG,X(YN03R&C5*(D]_XB=QRO<-ZKNO?P+
M0^Z^X-@31O,<WEN'(0F=STD,OY[)=$V0M@J-M@1;HJCX)*=$]>E*H!]YT3L$
MTNYVCOZG[3 3:2H\K-/D9U)TD*I;$X$@]G 33 *AKX[1,O#S$1Z(*GT6VEFH
MYS35I6&I>G!*9<SS!!9J:3GQF]!+4^<U9<7 +Z;*9QY1)@F)J<0+4Q7@RK>H
M^W0J'XT#UD+&!AJ)(DL[NF601LH(4C66G G.< _P:]H3ZTAOM@PQ39.TK2UG
MW%%EBE$CNY%4UT>DSQJF<E*JIP,W4UV$TU.=B1<DDA5049UVC_$V[2VMV=IJ
MR;9M>?G.@7<(]C,8T%>XC'PJ< F[#?8ABS.:M:9WH]B(WDF/JR-P\P]&AVK7
M4+KR'F$9><)!0NRX $F!4K1.)DA4&[3H:1HT-A0Z 4OI<1BGLD_>E#1U=Y$I
MX(__>WG1PG91Q$L%^Y\NZG884T!*^ QQ>[!" 0M(J9P=1<<[,4HH0M,;4HAF
MR#%/@WJ6>MBVX2U9EK-3%RS<S8N?C7/FW;6-9[:V\5%K&\]L;:-5VS_F"SZJ
MFCA]MEJB.SAS>]O0$L^8V\\1@D\E(670T 35*W $>B6O![_C@#WG4EQ'!HH=
MT]PMA1\I)TBIUS@21U,OG)B=OBW$K: /U1 O;OV% SC/Y%$['@Y<. ]GQUVZ
M^\ ]ZYT:)Z/>D9).#]5;[!,K[7&\YG?,DK<,\-/_%5Y"H(-[]B[[=YRSED?5
M"BB0IV IH""_%/.,N[U['=7NO:(F5R,MZV*%<N*^@&,ST"19NO-78]06JMB"
M 4+5@ 2C!KFXC9[65X/)(B&@L6HT-9_AZ<PN)Z4)=G6&J6&LLT81!:M$J-,I
M:5']C%+',*.!<\S(*$7&)K]BX P#U&$5&I+%1!3XU5)Z5I U*?QD(3-M_:BM
M'WWX=$1YTJDX"X\R^L-T1.4$0K<Z?O3B]?NO;\_!\P01,O;F04;(5R"Y_"#+
MT4A@E'F&'&K8A,*51ZYS)2)5S3])0%J2_3(!NXDCMCGC%1(J%)<PL46,".QV
M\(4];%LX;.=ZEG6S[B:=2.%S=U T-O,17#KW]W AN["@T9MC;9B-U31@YO/[
MCW]>7%ZZSONW7YW?PWCDA6YY,K%K3)1S<=Y3;SZ-)>KZQR^7]OC9X[>%XP><
M9N?SW9M)?F28T9[-+6H\'Y,"<%\NG<^?+DNC(>DS[Y;:.VG00"%QA9Y%Q[%$
MZ>'H"7=*B#>SPSB<B5Z.YQ,3I*H3#^PQ#RMDA)WJ97F^AN?_]/)HW*QCU7.(
M6S)9/(+,S]W-7FAYS/)8S8@?1NAO!CPHQGF"=4<SX:7L&F+;MZRKD1V)NFVZ
M9(S*[OXPOO5"N(&L'K*L:8W++?"Z=FJLB6E%X1I,S%1X8#_Z,=R5UCV\-6%%
M.8H0WEKA9IEM/7K7S+ZDQ1@Z8+E\GL'CJ(@7H4[&99U+C 7.BY]'V(-O.=)R
M9'WDLR$XN9@%^8R@F&2S=11'1U3FC5VB$Y"..7=.6__6<EP=*'\>A,UX#D&S
MS]]KE"J&[RJPPQ"VVK*:9;6:OAR$<A,-T<)GG!_QYG,JX9MZ>8CIE<DMJM/K
M&)Q<UT&<F]@%3SA-"=J.ZB8R3S(G;)A :6B9TCJXVQ"HGRXO&W$X9?NL-VPE
MYB(O?2)GH^%PQ<RA6GY,DV#)UTAD&55URYK4>,Z3NV5.A**&V <9B C^L5:B
M9<0:1KQ 5S=\ '2G\]<EP;4BL$,6<$ &M'.2!'YL-;+EM3I>^SYO.H7)%V$
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M*Y9PJAAJ+G$\G/@C>!"Q:4OY/-&T &X:NB44)[2US-E3"+SM@9>E+"0:-[P
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M 0OW'\.T'EI?G!RW3SL\#D1A*S]L"-.:QH$PE/$:9KT3SI:"1;IKSGN9U?4
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M_W1%#L2?D#(6:'AD,?B%^SC$W4H1VZ+Q]]3)PGI?F*67CTQZ\$EK63; _*3
M/%?%$?XD6<A5$N*\IA#G;T?7GY9_P>:HS]I LX%F]>KZI"6,3H"\^Z6<,TNH
M61U;#%O.E@6/Q^'S5-UN=K#9P3/MH K7>J\\5P4WJLV\Z33ISTLJT<PIZ7=<
MUU3I]"NGSFR V0#SE"KPE/=FH_=NH-E<K 7V#!BKWBX)!:+*9VH<D(BNI$3T
MBX1MM6[5*F-J ; ]M4M4U.F8JDYGY;C0!I@-,!NOZ%KRZD:E9-7*,_+#ZDN4
M:C\!-,N]<\^I.(HJSMG(N+8AXPTT"Z:B)_$0'MEW3L?\8@<1<]T5E.T;8#;
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M^V8S[%G:A?V,C?03\,3H*_,ZPCEDL B^^Y'=PK>;W2YL#C:)JO*)WGN7_T!
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MULI_=1*#32G0BC2*+@Y!I<1BN>3DO]&%HS@(9+2+P/-H#GX^CP&.!8BZ#7R
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M,\LO\#=#%O$G2.<"E9@"W99,%L_YZ$B&*%=?1Y\T>C9/:TYO*TER$!IHSC<
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M!;2(TF0(Y!\&H 9;QC6\8@-5D&T%BG_J@#[ 'SM^']:P86WN^X,G/C6/+?/
M[@68B80'_1Z=WA]\S.8E\Q.051)A_5(*:4A-B6I_I*GE36H?GR2J?O9I5!Q@
M7D JT&KSOF9PUP-G0!%T_G>*>0[@O(0XY&+ 0M<LV R\I1%97%$/LP.$'T.
MQ>TG8\1?7V0PP>VY.?P=_WSV.NO4P)T+NT1Y7ZJIKREU'^/94N&_#(?M'H9&
MA\3)+CCE2'(\8G?,]0=$ O2]C_[0=VT5<!5EZ%BQV/8#!#BQ%"P>O6$VX!"_
M>&6W6HY'6+K OF2<']"J7QE0'W -L^F$/>.]#6BP>Q8&ON/0=EF?FW2PQID=
M1L+J@PO@A2HA*]D&7[$9N=3&4+=<^'7"[&<-*4E8&]<'IA[ #<"@MF782HE
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MGA]X&/XD4"B819,"1D$0TBGE>+D6P2^R4!+X$F!27Y])>\6:7I>?WW6;#\4
MJ#3JR1VWMV$ RV< LMZ::JVGOOWC=-,QM;&<&6A2ML+Y 7Q<F_J="N[;$=Q[
MCV7EN8*$BZ5.,I,]E0I!SH+\[Z4W*:YTFRO*!B4OW)'NC+I<1UB0<@< 1U$&
M!6DTF+60N/-T;1!Q@C\?PGUG;G;WJ<B!,:N*-KN^,YV*AKD$Z =):2"H$$U0
M)T:VEC5'X$W "SF!4Q9[LLUHA$T9H1Q'*B>Q)D@DM5$P1<F4=89MAR&.;HJ(
M^=  8/N!#Q$&?+9CFFZ"P]<UUZP<?8IC2A.6J+RY.\9[/OT%EK$[L1APFCLV
ME ))S/L7KJMGGN\@!73\'[YF@X/FL\:S0/<V$?IGC=#O;2+T3Q1E^"DF:HMZ
M;JSE+AC&-ZO<SZ^]%1(S;;QRZY&^S>6HD9&CPC=20CB:BFOGN;-2_MFT%)>S
MMJ+T0,H)#FT)F) C$RQ@>C1K ,,[AX$#?-Y&3WI($P"G\MTF]K"QL8>?XU;P
M)F*J@5AVT'R2<Y'3VRG7+9MH6$H)*+Q#(FZFK6UD?(DI8UKF9PAHY:"[2LD<
M,IM/MU%IC$"(VEA7A\;,L@ (.^3*2=OUXY2&DTYUU^S07%5/Q./'<8=3D,2V
MT.M\CTELR6'Q\HX=5 Z27(<[YG7\0(7,X4:Z'<N@E'Q0_CIQ&U0X=F=[M\R%
MD^R8+97F&XJ8.RJ.F/S+Q_AQ[RU-RZ-)?[LE"WD,:'X@J!AF]6222>YI'%",
M@_ZX7^.8,A>NR@CB#JR/21HXW(^2+X0^2I\F?&)1%.B6^&;'">T0\U&!5^#D
MO:':Y8YY; >NPST3Z,+@XX#I^P%V\E:IJ&3HAP!I%GGT-:D8*SC2>$O32C95
M #D6'&:,$!Y[MUA\$BBS_,QI]YQ; .4ZPB-*&-@+R0)8,)NY8BX_SYXS" V[
M[P.>DW%CZI_;3SIN;)7QOW3>+Z8YR (<0CA%Z51/6)H-U@IH?"\/ 3EXFW>R
MM3M\U"M5B<A?8,Z6G;R'L;3LVIEW#!I$%HO<08\->NP^_TMB^+ V[11?A36W
M0?]V07'@_ Z_+GZSDX&N<!&P9[T.>O=IUBG^P->AX:0('_SG^2;'""&>IU)I
MM&URVM8F5(X=U0;_SJF@XF]*Y_"*<ARXU9+H,Y=RO,V\O[&9G]5FWM_8S&LJ
M$Q9\>R^O+BXOKIL?C?.+';.R3(-^*0/Q"IC/JH/=O 2\?P:L7YR831QX"_^!
ML7-!\VP/+\XNF^=?A>OA>NTV5RE5:L;Q7Y].;[Z:I^>'L+/3S\?FY<?F^=IM
M9?GDM:1QL5GW52K^02H=HQA3^)UGIML#-)[0) ;=!8Q/"B@55'WC^9K'_\5H
M7X)9B_G:\.:E"^]2QBL^6"F](3+ W]+/Y3>O160&YW*#-8^)H(S63W+%PYZ-
M18D% :]#UPY#\X#2YK'0%;=DVG>VX]HRM1U?NZ6 ,*QAH]I(WKR D25KM(:T
M09%R!5I;>7\7#6$^=SZGVL;N^(-(!+L&5'..EF,60800VC^"I?Q]&%OBF2UA
MW/I7E-%K!V%PI ,8PE'7]+P8?CICE(B_<7H]_<1Y,6 ^Y*1:?.H3Z7<66C7R
M:!5=.H(Z,<SFL38+0XQV.D!EJ*@B&,+AD?*^D9,("UFHP@OA!9"H''TB@ 95
MA\11+*R@"+_+.H)#1!'Z?\EPPJPJX6)1@4)8\SL;FJP_</TA8YJAPXVM-J8H
MNQ&MFG$88GDR+_K@%VJ$>[E@36T#=^_#MMKM3;+N\N]&#MECLQ 2&L#-^DX4
MJ5H?C:5A62-+D2CSB.!3 7J?4Y<ES&1N23,N4 3=#>"PZ1O&( ["V-:9;7F7
MF*UE^@/N';SO.>T>235'B2,"2CVQ)632Z?5%J,01WA1!Q7UFDV\7DSB 9C$%
MH%:I2#H5(7K7N +>X,6XDPY=IW*COL<+PQ!+@!!=_N%#\EMOZ JT6-O&Q@M
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M8FN.Q$M1.P95E[KJ3DTZ&Z)9@ YM65JNVUO6.RF9Q [; 379A4\IRN(!2SW
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M0G([ND-:YR*>?&0#PSTD5#J1F2.D-$-BJ-Y_J(H3Z@1Y&VDF]#-Q[1"^/4;
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MK,=&B&OE#?(A&IX^F]AXE7:[..%$QEO%"?.+%=3!FBN&B(R=FQH3*N$*.MS
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M#=1\W9B""&>-9:WE( D?@U 4*R315R+/J=+F#XEE#+V.- W[XX1CJ]U7.)J
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M_C2. D0A90-WJL]I6P#5B?;48.XCFX3N9FIGN_ %4->"G5GY0Q"6=D0=1E&
M&*3DYB[M^4P+H#E#-XI3][">ELY2@$BD;&&&".2V+H#RQ.Z%SG? 0R%NCU\3
M*FZ)> 45?G40R;GFH@MB0AV06Y,@)TT!8I%H8H?$XG": L1B2U7?#]9/[<>Q
MIL9&=X7X\*WI<8E'WX- 5?>#ID>DO&IRW^>LJ[CSFJE_?.Q*!8CH2I<X0B2/
MND(!(KCEDK&L,U%/"XW9PG<\^@+$+C4W\L?LXVD+$*N[0/MR/^A@R:"[6#;=
M$1$0W>;TEY.1]MVPO;5$"!G2?.BGED2D'T X^LNL(6SXM+(-=\"NC".>P^4D
M?$LVK5C%]NF=SD=?K:B-OH=[^@'U%[44_9\EP&08JI]T. +1&Q'6XXIX406M
ME->^5O]O]=3MZ"_)^/@?4$L#!!0    ( /R!7EN,CS#]<@4  $,V   4
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MOKVK=TB9K]Y&^55?ZO]XY)W_ 5!+ P04    " #\@5Y;)\XDV; 6  #U/0$
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MT[ATH:(I@^?"F\*?=ZU.&$17WI5;%*>H=(P*SZAPC0K?*(HCE)(<<?<<7-X
M\3M,5@M*WX79:D5%GW/W=V"\*U?:WS782O-C_8#0^H[D>U5XY0Z:LF\VN9B^
MB]-5,T:E? UX5QJUHET)40L&H38;AEU)-6PZ:MJK8"P: ?$GCB;K$^C\ >H0
MF,,>T!M0.P,AV"DB&-T/*#V#Z0(,TOM(/P :?WM]CW("0M>[,!_8YGM1L<5[
MR_L@$U;>&G> ZFYCT .J;J4O$ J?((#1%7?A&$R]/43IX]P J+6ME3W&!PA%
M[T!\8)7M0[^-;OXLC;ZDSX+#T+&:P=3#L,TJ&,D(3FL'0H\#R>K&=>S_4.7
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MP+5P],2[ I*C00E)2U$GJ#>(F795Y?KD?]7ABM<X.B=B$\A]D"@J'RW:668
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M0PH%I!(=/W6V-P'TL-OOHM@F74ZLSTD2AXSYG!+MB4XK*W<YV:U#V"9J-YJ
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M *BX$  .              "  <,>  !F;W)M9&5F,31A+FAT;5!+ 0(4 Q0
M   ( /R!7ELKK@=*5P4  )DC   0              "  ?3* 0!I9'0M,C R
M-3 W,S$N>'-D4$L! A0#%     @ _(%>6XR/,/UR!0  0S8  !0
M     ( !>= ! &ED="TR,#(U,#<S,5]D968N>&UL4$L! A0#%     @ _(%>
M6R?.)-FP%@  ]3T! !0              ( !'=8! &ED="TR,#(U,#<S,5]L
M86(N>&UL4$L! A0#%     @ _(%>6T8):1IE#@  &\   !0
M ( !_^P! &ED="TR,#(U,#<S,5]P<F4N>&UL4$L%!@     '  < P@$  );[
$ 0    $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>formdef14a_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:IDT="http://idt.net/20250731"
  xmlns:dei="http://xbrl.sec.gov/dei/2025"
  xmlns:ecd="http://xbrl.sec.gov/ecd/2025"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:us-gaap="http://fasb.org/us-gaap/2025"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="idt-20250731.xsd" xlink:type="simple"/>
    <context id="From2024-08-01to2025-07-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2020-08-012021-07-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
        </entity>
        <period>
            <startDate>2020-08-01</startDate>
            <endDate>2021-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingEquityAwardsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2025-07-31</instant>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingAndUnvestedEquityAwardsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2025-07-31</instant>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-08-01</startDate>
            <endDate>2025-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingEquityAwardsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2024-07-31</instant>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsAwardedInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsUnvestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsUnvestedInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingAndUnvestedEquityAwardsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2024-07-31</instant>
        </period>
    </context>
    <context id="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingAndUnvestedEquityAwardsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2023-07-31</instant>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2023-08-01</startDate>
            <endDate>2024-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsDidNotVestInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:OutstandingEquityAwardsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2023-07-31</instant>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsVestedInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountEquityAwardsGrantInCurrentYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-01</startDate>
            <endDate>2023-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_ecd_PeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_ecd_PeoMember_custom_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_ecd_PeoMember_custom_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_ecd_NonPeoNeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:AdjToCompAxis">IDT:AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-08-01</startDate>
            <endDate>2022-07-31</endDate>
        </period>
    </context>
    <context id="From2020-08-012021-07-31_ecd_PeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:PeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2020-08-01</startDate>
            <endDate>2021-07-31</endDate>
        </period>
    </context>
    <context id="From2020-08-012021-07-31_ecd_NonPeoNeoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001005731</identifier>
            <segment>
                <xbrldi:explicitMember dimension="ecd:ExecutiveCategoryAxis">ecd:NonPeoNeoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2020-08-01</startDate>
            <endDate>2021-07-31</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <unit id="Ratio">
        <measure>pure</measure>
    </unit>
    <dei:AmendmentFlag contextRef="From2024-08-01to2025-07-31" id="Fact000003">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey contextRef="From2024-08-01to2025-07-31" id="Fact000004">0001005731</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="From2024-08-01to2025-07-31" id="xdx2ixbrl0011">DEF 14A</dei:DocumentType>
    <dei:EntityRegistrantName contextRef="From2024-08-01to2025-07-31" id="Fact000012">IDT Corporation</dei:EntityRegistrantName>
    <ecd:AwardTmgMnpiDiscTextBlock contextRef="From2024-08-01to2025-07-31" id="Fact000015">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;It
is the Compensation Committee&#x2019;s practice to consider and approve ordinary course annual equity grants for the Company&#x2019;s executive
officers at its&#160;regularly scheduled meeting held in September of each year. At this meeting, the Compensation Committee approves
the portion of each named executive officer&#x2019;s annual equity award that will be granted in the form of stock options, if any.&lt;/span&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Company&#160;does &lt;span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_908_eecd--AwardTmgMnpiCnsdrdFlag_dbF_c20240801__20250731_zl1uqKW7CeKb"&gt;no&lt;/span&gt;t&#160;schedule its equity grants in anticipation of the release of material, non-public information (&#x201c;MNPI&#x201d;),&#160;nor
does the Company time the release of&#160;MNPI&#160;based on equity grant dates. In the event&#160;MNPI&#160;becomes known to the Compensation
Committee prior to granting an equity award, the Compensation Committee will take the existence of such information into consideration
and use its collective business judgment to determine whether to delay the grant of equity to avoid any impropriety.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;During
fiscal 2025, no named executive officer received a stock option grant during the period beginning four business days before, and ending
one business day after, the filing of a periodic report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on
Form 8-K that discloses&#160;MNPI.&lt;/span&gt;&lt;/p&gt;

&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;</ecd:AwardTmgMnpiDiscTextBlock>
    <ecd:AwardTmgMnpiCnsdrdFlag contextRef="From2024-08-01to2025-07-31" id="Fact000016">false</ecd:AwardTmgMnpiCnsdrdFlag>
    <ecd:PvpTableTextBlock contextRef="From2024-08-01to2025-07-31" id="Fact000018">&lt;table cellpadding="0" cellspacing="0" id="xdx_88F_eecd--PvpTableTextBlock_zv4bf1BMvmYj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="border-bottom: Black 1pt solid; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Fiscal Year&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_48C_eecd--PeoTotalCompAmt_z8IYH0bEXJgh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Summary&lt;br/&gt; Compensation&lt;br/&gt; Table Total&lt;br/&gt; for PEO&lt;sup&gt;(2)&lt;/sup&gt;&lt;br/&gt; ($)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_480_eecd--PeoActuallyPaidCompAmt_zYMZTPdMgRAb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Compensation&lt;br/&gt; Actually Paid&lt;br/&gt; to PEO&lt;br/&gt; ($) &#160;&lt;sup&gt;&#160;&lt;/sup&gt;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_481_eecd--NonPeoNeoAvgTotalCompAmt_zuvuUxe6O4y5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Average&lt;br/&gt; Summary&lt;br/&gt; Compensation&lt;br/&gt; Table Total&lt;br/&gt; for Non-PEO&lt;br/&gt; NEOs&lt;sup&gt;(3)&lt;/sup&gt;&lt;br/&gt; ($)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_482_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zCUizaPrjoA7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Average&lt;br/&gt; Compensation&lt;br/&gt; Actually Paid&lt;br/&gt; to Non-PEO&lt;br/&gt; NEOs&lt;br/&gt; ($) &#160;&lt;sup&gt;&#160;&lt;/sup&gt;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_48D_eecd--TotalShareholderRtnAmt_pp2d_z8ACViwmpV3a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Value of&lt;br/&gt; Initial Fixed&lt;br/&gt; $100 Investment&lt;br/&gt; Based On Total&lt;br/&gt; Shareholder&lt;br/&gt; Return&lt;sup&gt;(4)&lt;/sup&gt;&lt;br/&gt; ($)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_481_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_zRwcob3OHtT7" style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Value of&lt;br/&gt; Initial Fixed&lt;br/&gt; $100 Investment&lt;br/&gt; Based On Peer&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Group&#x2019;s Total&lt;br/&gt; Shareholder&lt;br/&gt; Return&lt;sup&gt;(5)&lt;/sup&gt;&lt;br/&gt; ($)&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" id="xdx_48B_eus-gaap--NetIncomeLoss_zjWNXFYxdRM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"&gt;Net Income&lt;br/&gt; ($)&lt;/td&gt;&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr id="xdx_414_20240801__20250731_zyhIMuApaWk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 10%"&gt;Fiscal 2025&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;1,479,253&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;1,479,253&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;1,382,896&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;1,919,113&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;sup&gt;(6)&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;911.46&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;211.03&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;81,139,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr id="xdx_410_20230801__20240731_zR5QIj0xM5pd" style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Fiscal 2024&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,090,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,090,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,243,526&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,552,575&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;sup&gt;(7)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;588.83&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;160.76&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;68,264,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr id="xdx_411_20220801__20230731_zBOcfoPhFYM9" style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Fiscal 2023&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,075,425&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,075,425&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,095,435&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,083,516&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;sup&gt;(8)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;364.36&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;123.63&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;44,366,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr id="xdx_419_20210801__20220731_zcOy0mOhSR2i" style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Fiscal 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,027,500&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,080,870&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;sup&gt;(9)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;584,101&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;597,684&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;sup&gt;(10)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;399.85&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;102.23&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29,005,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr id="xdx_41F_20200801__20210731_zhdCfZbZrByk" style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Fiscal 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,144,500&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,144,500&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;sup&gt;(11)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;671,833&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;671,833&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;sup&gt;(12)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;764.87&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;143.91&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;96,891,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ecd:PvpTableTextBlock>
    <ecd:PeoTotalCompAmt
      contextRef="From2024-08-01to2025-07-31"
      decimals="0"
      id="Fact000019"
      unitRef="USD">1479253</ecd:PeoTotalCompAmt>
    <ecd:PeoActuallyPaidCompAmt
      contextRef="From2024-08-01to2025-07-31"
      decimals="0"
      id="Fact000020"
      unitRef="USD">1479253</ecd:PeoActuallyPaidCompAmt>
    <ecd:NonPeoNeoAvgTotalCompAmt
      contextRef="From2024-08-01to2025-07-31"
      decimals="0"
      id="Fact000021"
      unitRef="USD">1382896</ecd:NonPeoNeoAvgTotalCompAmt>
    <ecd:NonPeoNeoAvgCompActuallyPaidAmt
      contextRef="From2024-08-01to2025-07-31"
      decimals="0"
      id="Fact000022"
      unitRef="USD">1919113</ecd:NonPeoNeoAvgCompActuallyPaidAmt>
    <ecd:TotalShareholderRtnAmt
      contextRef="From2024-08-01to2025-07-31"
      decimals="2"
      id="Fact000023"
      unitRef="USD">911.46</ecd:TotalShareholderRtnAmt>
    <ecd:PeerGroupTotalShareholderRtnAmt
      contextRef="From2024-08-01to2025-07-31"
      decimals="2"
      id="Fact000024"
      unitRef="USD">211.03</ecd:PeerGroupTotalShareholderRtnAmt>
    <us-gaap:NetIncomeLoss
      contextRef="From2024-08-01to2025-07-31"
      decimals="0"
      id="Fact000025"
      unitRef="USD">81139000</us-gaap:NetIncomeLoss>
    <ecd:PeoTotalCompAmt
      contextRef="From2023-08-012024-07-31"
      decimals="0"
      id="Fact000026"
      unitRef="USD">1090000</ecd:PeoTotalCompAmt>
    <ecd:PeoActuallyPaidCompAmt
      contextRef="From2023-08-012024-07-31"
      decimals="0"
      id="Fact000027"
      unitRef="USD">1090000</ecd:PeoActuallyPaidCompAmt>
    <ecd:NonPeoNeoAvgTotalCompAmt
      contextRef="From2023-08-012024-07-31"
      decimals="0"
      id="Fact000028"
      unitRef="USD">1243526</ecd:NonPeoNeoAvgTotalCompAmt>
    <ecd:NonPeoNeoAvgCompActuallyPaidAmt
      contextRef="From2023-08-012024-07-31"
      decimals="0"
      id="Fact000029"
      unitRef="USD">1552575</ecd:NonPeoNeoAvgCompActuallyPaidAmt>
    <ecd:TotalShareholderRtnAmt
      contextRef="From2023-08-012024-07-31"
      decimals="2"
      id="Fact000030"
      unitRef="USD">588.83</ecd:TotalShareholderRtnAmt>
    <ecd:PeerGroupTotalShareholderRtnAmt
      contextRef="From2023-08-012024-07-31"
      decimals="2"
      id="Fact000031"
      unitRef="USD">160.76</ecd:PeerGroupTotalShareholderRtnAmt>
    <us-gaap:NetIncomeLoss
      contextRef="From2023-08-012024-07-31"
      decimals="0"
      id="Fact000032"
      unitRef="USD">68264000</us-gaap:NetIncomeLoss>
    <ecd:PeoTotalCompAmt
      contextRef="From2022-08-012023-07-31"
      decimals="0"
      id="Fact000033"
      unitRef="USD">1075425</ecd:PeoTotalCompAmt>
    <ecd:PeoActuallyPaidCompAmt
      contextRef="From2022-08-012023-07-31"
      decimals="0"
      id="Fact000034"
      unitRef="USD">1075425</ecd:PeoActuallyPaidCompAmt>
    <ecd:NonPeoNeoAvgTotalCompAmt
      contextRef="From2022-08-012023-07-31"
      decimals="0"
      id="Fact000035"
      unitRef="USD">1095435</ecd:NonPeoNeoAvgTotalCompAmt>
    <ecd:NonPeoNeoAvgCompActuallyPaidAmt
      contextRef="From2022-08-012023-07-31"
      decimals="0"
      id="Fact000036"
      unitRef="USD">1083516</ecd:NonPeoNeoAvgCompActuallyPaidAmt>
    <ecd:TotalShareholderRtnAmt
      contextRef="From2022-08-012023-07-31"
      decimals="2"
      id="Fact000037"
      unitRef="USD">364.36</ecd:TotalShareholderRtnAmt>
    <ecd:PeerGroupTotalShareholderRtnAmt
      contextRef="From2022-08-012023-07-31"
      decimals="2"
      id="Fact000038"
      unitRef="USD">123.63</ecd:PeerGroupTotalShareholderRtnAmt>
    <us-gaap:NetIncomeLoss
      contextRef="From2022-08-012023-07-31"
      decimals="0"
      id="Fact000039"
      unitRef="USD">44366000</us-gaap:NetIncomeLoss>
    <ecd:PeoTotalCompAmt
      contextRef="From2021-08-012022-07-31"
      decimals="0"
      id="Fact000040"
      unitRef="USD">1027500</ecd:PeoTotalCompAmt>
    <ecd:PeoActuallyPaidCompAmt
      contextRef="From2021-08-012022-07-31"
      decimals="0"
      id="Fact000041"
      unitRef="USD">1080870</ecd:PeoActuallyPaidCompAmt>
    <ecd:NonPeoNeoAvgTotalCompAmt
      contextRef="From2021-08-012022-07-31"
      decimals="0"
      id="Fact000042"
      unitRef="USD">584101</ecd:NonPeoNeoAvgTotalCompAmt>
    <ecd:NonPeoNeoAvgCompActuallyPaidAmt
      contextRef="From2021-08-012022-07-31"
      decimals="0"
      id="Fact000043"
      unitRef="USD">597684</ecd:NonPeoNeoAvgCompActuallyPaidAmt>
    <ecd:TotalShareholderRtnAmt
      contextRef="From2021-08-012022-07-31"
      decimals="2"
      id="Fact000044"
      unitRef="USD">399.85</ecd:TotalShareholderRtnAmt>
    <ecd:PeerGroupTotalShareholderRtnAmt
      contextRef="From2021-08-012022-07-31"
      decimals="2"
      id="Fact000045"
      unitRef="USD">102.23</ecd:PeerGroupTotalShareholderRtnAmt>
    <us-gaap:NetIncomeLoss
      contextRef="From2021-08-012022-07-31"
      decimals="0"
      id="Fact000046"
      unitRef="USD">29005000</us-gaap:NetIncomeLoss>
    <ecd:PeoTotalCompAmt
      contextRef="From2020-08-012021-07-31"
      decimals="0"
      id="Fact000047"
      unitRef="USD">1144500</ecd:PeoTotalCompAmt>
    <ecd:PeoActuallyPaidCompAmt
      contextRef="From2020-08-012021-07-31"
      decimals="0"
      id="Fact000048"
      unitRef="USD">1144500</ecd:PeoActuallyPaidCompAmt>
    <ecd:NonPeoNeoAvgTotalCompAmt
      contextRef="From2020-08-012021-07-31"
      decimals="0"
      id="Fact000049"
      unitRef="USD">671833</ecd:NonPeoNeoAvgTotalCompAmt>
    <ecd:NonPeoNeoAvgCompActuallyPaidAmt
      contextRef="From2020-08-012021-07-31"
      decimals="0"
      id="Fact000050"
      unitRef="USD">671833</ecd:NonPeoNeoAvgCompActuallyPaidAmt>
    <ecd:TotalShareholderRtnAmt
      contextRef="From2020-08-012021-07-31"
      decimals="2"
      id="Fact000051"
      unitRef="USD">764.87</ecd:TotalShareholderRtnAmt>
    <ecd:PeerGroupTotalShareholderRtnAmt
      contextRef="From2020-08-012021-07-31"
      decimals="2"
      id="Fact000052"
      unitRef="USD">143.91</ecd:PeerGroupTotalShareholderRtnAmt>
    <us-gaap:NetIncomeLoss
      contextRef="From2020-08-012021-07-31"
      decimals="0"
      id="Fact000053"
      unitRef="USD">96891000</us-gaap:NetIncomeLoss>
    <ecd:NamedExecutiveOfficersFnTextBlock contextRef="From2024-08-01to2025-07-31" id="Fact000055">&lt;p id="xdx_894_eecd--NamedExecutiveOfficersFnTextBlock_dU_zQ5hPSqByY7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(2)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;span id="xdx_90D_eecd--PeoName_c20240801__20250731_zXzZcMM7MiA7"&gt;&lt;span id="xdx_90F_eecd--PeoName_c20230801__20240731_zbqRYrr2cp52"&gt;&lt;span id="xdx_90C_eecd--PeoName_c20220801__20230731_zCEEnBHLXZQc"&gt;&lt;span id="xdx_90B_eecd--PeoName_c20210801__20220731_zY0aKI5jIXu8"&gt;&lt;span id="xdx_903_eecd--PeoName_c20200801__20210731_zC0Hjf6bmBkl"&gt;Shmuel
    Jonas&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;, Chief Executive Officer, is the Principal Executive Officer (&#x201c;PEO&#x201d;).&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
</ecd:NamedExecutiveOfficersFnTextBlock>
    <ecd:PeoName contextRef="From2024-08-01to2025-07-31" id="Fact000056">Shmuel     Jonas</ecd:PeoName>
    <ecd:PeoName contextRef="From2023-08-012024-07-31" id="Fact000057">Shmuel     Jonas</ecd:PeoName>
    <ecd:PeoName contextRef="From2022-08-012023-07-31" id="Fact000058">Shmuel     Jonas</ecd:PeoName>
    <ecd:PeoName contextRef="From2021-08-012022-07-31" id="Fact000059">Shmuel     Jonas</ecd:PeoName>
    <ecd:PeoName contextRef="From2020-08-012021-07-31" id="Fact000060">Shmuel     Jonas</ecd:PeoName>
    <ecd:EquityValuationAssumptionDifferenceFnTextBlock contextRef="From2024-08-01to2025-07-31" id="Fact000062">&lt;p id="xdx_89B_eecd--EquityValuationAssumptionDifferenceFnTextBlock_dU_zKuXh6M9Np2l" style="display: none; margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(4)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Calculated
    based on a hypothetical $100 investment beginning at market close on July 31, 2020.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
</ecd:EquityValuationAssumptionDifferenceFnTextBlock>
    <ecd:Additional402vDisclosureTextBlock contextRef="From2024-08-01to2025-07-31" id="Fact000064">&lt;p id="xdx_893_eecd--Additional402vDisclosureTextBlock_dU_zsSIb2PwWeph" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(5)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Calculated
    based on a hypothetical $100 investment beginning at market close on July 31, 2020 in the S&amp;amp;P 500 Communication Services.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;

</ecd:Additional402vDisclosureTextBlock>
    <ecd:AdjToNonPeoNeoCompFnTextBlock contextRef="From2024-08-01to2025-07-31" id="Fact000066">&lt;p id="xdx_899_eecd--AdjToNonPeoNeoCompFnTextBlock_dU_zmoqTHH665P4" style="margin: 0; display: none"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(6)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
    Fiscal 2025, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $&lt;span id="xdx_904_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_ziZlCF4ZDoK1"&gt;536,217&lt;/span&gt;, due to the following:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(a)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_90E_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_zX51DkGm98Ra"&gt;184,082&lt;/span&gt; ($&lt;span id="xdx_90E_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zCMExcRkz2xa"&gt;920,410&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and deferred stock units awarded during Fiscal 2025 to the Non-PEO NEOs that did not vest during Fiscal 2025 based
    upon the closing price of our Class B Common Stock on July 31, 2025 (the last trading day of Fiscal 2025) of $&lt;span id="xdx_900_ecustom--CommonStockClosingPrice_iI_pid_c20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zBKhMieSuKdh" title="Common stock closing price"&gt;58.91&lt;/span&gt;; see Outstanding
    Equity Awards at Fiscal Year-End, above;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(b)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_900_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_zPfdIpLLGceg"&gt;368,634&lt;/span&gt; ($&lt;span id="xdx_908_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsAwardedInCurrentYearMember_z6qUfOvZuf4l"&gt;1,843,172&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2025 to the Non-PEO NEOs that vested during Fiscal 2025 based upon the closing
    price of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested,
    above; &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(c)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_908_eecd--AdjToCompAmt_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_zv6OyBAaOw68"&gt;488,494&lt;/span&gt; ($&lt;span id="xdx_90F_eecd--AdjToCompAmt_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zkIEkuaJCdt"&gt;2,442,469&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs that vested during Fiscal 2025 (based on the closing price of our Class B Common Stock on such vesting
    date) as compared to the fair market value of such restricted shares of Class B Common Stock and DSUs that were outstanding and unvested
    on July 31, 2024 (the last trading day of Fiscal 2024, which had a closing price of our Class B Common Stock on such date of $&lt;span id="xdx_90B_ecustom--CommonStockClosingPrice_iI_pid_c20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zcaPkFMs5vhg" title="Common stock closing price"&gt;38.23&lt;/span&gt;);
    and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(d)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
    decrease in the average amount of $&lt;span id="xdx_90A_eecd--AdjToCompAmt_di_c20240801__20250731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_zTqsMi58EsJ5"&gt;504,993&lt;/span&gt; ($&lt;span id="xdx_909_eecd--AdjToCompAmt_di_c20240801__20250731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zURxgPVFzui7"&gt;2,524,965&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2025 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;/span&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 3%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(7)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 96%; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
    Fiscal 2024, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $&lt;span id="xdx_906_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zAFp1xBh2SC6"&gt;309,049&lt;/span&gt;, due to the following:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(a)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_90D_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_zYjrVVatjZa2"&gt;179,681&lt;/span&gt; ($&lt;span id="xdx_90F_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zCOCYoI7sZxj"&gt;898,405&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and deferred stock units awarded during Fiscal 2024 to the Non-PEO NEOs that did not vest during Fiscal 2024 based
    upon the closing price of our Class B Common Stock on July 31, 2024 (the last trading day of Fiscal 2024) of $&lt;span id="xdx_90B_ecustom--CommonStockClosingPrice_iI_pid_c20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zz5U1odTnGlb" title="Common stock closing price"&gt;38.23&lt;/span&gt;; see Outstanding
    Equity Awards at Fiscal Year-End, above;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(b)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_902_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember_zqmMyPbV4Yxf"&gt;297,500&lt;/span&gt; ($&lt;span id="xdx_909_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsAwardedInCurrentYearMember_zhFybKOnAGOb"&gt;1,487,498&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2024 to the Non-PEO NEOs that vested during Fiscal 2024 based upon the closing
    price of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested,
    above; &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(c)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_90D_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember_ze7TnIxbZG5f"&gt;285,220&lt;/span&gt; ($&lt;span id="xdx_90B_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsUnvestedInCurrentYearMember_zEL9AO1pta02"&gt;1,426,101&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs outstanding and unvested on July 31, 2024 (the last trading day of Fiscal 2024, which had a closing
    price of our Class B Common Stock on such date of $&lt;span id="xdx_902_ecustom--CommonStockClosingPrice_iI_pid_c20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zobknEhQDFLd" title="Common stock closing price"&gt;38.23&lt;/span&gt;) as compared to the fair market value of such restricted shares of Class
    B Common Stock and DSUs that were outstanding and unvested on July 31, 2023 (the last trading day of Fiscal 2023, which had a closing
    price of our Class B Common Stock on such date of $&lt;span id="xdx_901_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_zSMAsIzZY0bl" title="Common stock closing price"&gt;23.63&lt;/span&gt;); &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(d)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_900_eecd--AdjToCompAmt_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_z7zJtgN2y85l"&gt;5,434&lt;/span&gt; ($&lt;span id="xdx_90F_eecd--AdjToCompAmt_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zRMprkFND5ae"&gt;27,172&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and DSUs that vested during Fiscal 2024 (based on the closing price of our Class B Common Stock on such vesting date)
    as compared to the fair market value of such restricted shares of Class B Common Stock and DSUs that were outstanding and unvested
    on July 31, 2023 (the last trading day of Fiscal 2023, which had a closing price of our Class B Common Stock on such date of $&lt;span id="xdx_90A_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingAndUnvestedEquityAwardsMember_z6I0Q3yYGxM4" title="Common stock closing price"&gt;23.63&lt;/span&gt;);
    and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(e)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
    decrease in the average amount of $&lt;span id="xdx_909_eecd--AdjToCompAmt_di_c20230801__20240731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_z7P7QPFdAOLh"&gt;458,786&lt;/span&gt; ($&lt;span id="xdx_907_eecd--AdjToCompAmt_di_c20230801__20240731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zUzkLlPNAvWj"&gt;2,293,930&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2024 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(8)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 6px; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
    Fiscal 2023, the average compensation actually paid to non-PEO NEOs was lower than the total amount disclosed in the Summary Compensation
    Table in the average amount of $&lt;span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_znqK8nbAqjyj"&gt;11,919&lt;/span&gt;, due to the following:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(a)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_90B_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember_z6k6oX87bBM9"&gt;466,487&lt;/span&gt; ($&lt;span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsDidNotVestInCurrentYearMember_zolrD3bWll4j"&gt;2,332,436&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEO NEOs that did not vest during Fiscal 2023 based upon the
    closing price of our Class B Common Stock on July 31, 2023 (the last trading day of Fiscal 2023) of $&lt;span id="xdx_90C_ecustom--CommonStockClosingPrice_iI_pid_c20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--OutstandingEquityAwardsMember_zBRXWGom7iA6" title="Common stock closing price"&gt;23.63&lt;/span&gt;; see Outstanding Equity
    Awards at Fiscal Year-End, above;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(b)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_906_eecd--AdjToCompAmt_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember_zCxtCH5T7eb"&gt;46,314&lt;/span&gt; ($&lt;span id="xdx_901_eecd--AdjToCompAmt_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsVestedInCurrentYearMember_zVsCZ5XjVLdi"&gt;231,570&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEO NEOs that vested during Fiscal 2023 based upon the closing price
    of our Class B Common Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested, above.
    Excluded from this calculation are restricted shares of Class B Common Stock owned by Bill Pereira and Marcelo Fischer that were
    awarded in Fiscal 2023 for services provided in Fiscal 2022, see footnote 8 below; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(c)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
    decrease in the average amount of $&lt;span id="xdx_909_eecd--AdjToCompAmt_di_c20220801__20230731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember_zSoyDP7RbLj5"&gt;524,720&lt;/span&gt; ($&lt;span id="xdx_907_eecd--AdjToCompAmt_di_c20220801__20230731__ecd--AdjToCompAxis__custom--AggregateAmountEquityAwardsGrantInCurrentYearMember_zzUHNd6spah2"&gt;2,623,200&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of
    Class B Common Stock and DSUs awarded during Fiscal 2023 to the Non-PEOs based upon the price of the Class B Common Stock at the
    applicable grant date; see Summary Compensation Table, above.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(9)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
    Fiscal 2022, the compensation actually paid to Shmuel Jonas (PEO) was greater than the total amount disclosed in the Summary Compensation
    Table in the amount of $&lt;span id="xdx_908_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zqr0evyYznOd"&gt;53,370&lt;/span&gt;, due to the following:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(a)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the amount of $&lt;span id="xdx_904_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_zHuMjSislkLa"&gt;319,620&lt;/span&gt; related to the fair market value of restricted shares of Class B Common Stock awarded during Fiscal
    2025 for services provided by Shmuel Jonas in Fiscal 2022 that vested upon grant based upon the closing price of our Class B Common
    Stock on the applicable date of vesting; see Option Exercises and Stock and Deferred Stock Units Vested, above; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(b)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
    decrease in the amount of $&lt;span id="xdx_901_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember_zmdWhzmWye0g"&gt;266,250&lt;/span&gt; related to the fair market value of restricted shares of Class B Common Stock awarded during Fiscal
    2025 for services provided by Shmuel Jonas in Fiscal 2022 based upon the price of the Class B Common Stock at the applicable grant
    date; see Summary Compensation Table, above.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(10)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
    Fiscal 2022, the average compensation actually paid to non-PEO NEOs was higher than the total amount disclosed in the Summary Compensation
    Table in the average amount of $&lt;span id="xdx_90A_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zqKk3Bi1cMSj"&gt;13,583&lt;/span&gt;, due to the following:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(a)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;an
    increase in the average amount of $&lt;span id="xdx_90E_eecd--AdjToCompAmt_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_zwtI4BQNANai"&gt;83,334&lt;/span&gt; ($&lt;span id="xdx_903_eecd--AdjToCompAmt_c20210801__20220731__ecd--AdjToCompAxis__custom--AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember_zVSTHurpkY0f"&gt;416,670&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock awarded during Fiscal 2023 for services provided by two non-PEO NEOs (Bill Pereira and Marcelo Fischer) in Fiscal
    2022 that vested upon grant based upon the closing price of our Class B Common Stock on the applicable date of vesting; see Option
    Exercises and Stock and Deferred Stock Units Vested, above; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(b)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
    decrease in the average amount of $&lt;span id="xdx_908_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_zKJytENRdK1f"&gt;69,751&lt;/span&gt; ($&lt;span id="xdx_90F_eecd--AdjToCompAmt_di_c20210801__20220731__ecd--AdjToCompAxis__custom--AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember_zhTDYCmQNEi9"&gt;348,753&lt;/span&gt; in the aggregate) related to the fair market value of restricted shares of Class
    B Common Stock awarded during Fiscal 2023 for services provided by two non-PEO NEOs (Bill Pereira and Marcelo Fischer) in Fiscal
    2022 based upon the price of the Class B Common Stock at the applicable grant date; see Summary Compensation Table, above.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(11)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
    value of a grant to Shmuel Jonas in Fiscal 2021 of &lt;span id="xdx_90C_ecustom--NumberOfRestrictedSharesGranted_pid_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zAqKOZnMGtC" title="Number of restricted shares grant"&gt;50&lt;/span&gt; restricted shares of Class B common stock of net2phone 2.0, Inc., a subsidiary
    of the Company (&#x201c;net2phone 2.0&#x201d;), which represents &lt;span id="xdx_902_ecustom--OutstandingCommonStockPercentage_pid_dp_uRatio_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zamKbMbdJC91" title="Outstanding common stock percentage"&gt;5&lt;/span&gt;% of the outstanding common stock of net2phone 2.0, was valued at
    the time of grant and assumed to not have changed value by the end of Fiscal 2021 as such shares were illiquid and did not vest by
    the end of Fiscal 2021.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 24px"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(12)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
    value of a grant to Howard S. Jonas (a non-PEO NEO) in Fiscal 2021 of &lt;span id="xdx_907_ecustom--NumberOfRestrictedSharesGranted_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z9cXmNOMpxO" title="Number of restricted shares grant"&gt;50&lt;/span&gt; restricted shares of Class B common stock of net2phone 2.0,
    which represents &lt;span id="xdx_90F_ecustom--OutstandingCommonStockPercentage_pid_dp_uRatio_c20200801__20210731__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zW110lkUlvU" title="Outstanding common stock percentage"&gt;5&lt;/span&gt;% of the outstanding common stock of net2phone 2.0, was valued at the time of grant and assumed not to have changed
    value by the end of Fiscal 2021 as such shares were illiquid and did not vest by the end of Fiscal 2021.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
</ecd:AdjToNonPeoNeoCompFnTextBlock>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember"
      decimals="0"
      id="Fact000067"
      unitRef="USD">536217</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember"
      decimals="0"
      id="Fact000068"
      unitRef="USD">184082</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember"
      decimals="0"
      id="Fact000069"
      unitRef="USD">920410</ecd:AdjToCompAmt>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember"
      decimals="INF"
      id="Fact000071"
      unitRef="USDPShares">58.91</IDT:CommonStockClosingPrice>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember"
      decimals="0"
      id="Fact000072"
      unitRef="USD">368634</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember"
      decimals="0"
      id="Fact000073"
      unitRef="USD">1843172</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember"
      decimals="0"
      id="Fact000074"
      unitRef="USD">488494</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember"
      decimals="0"
      id="Fact000075"
      unitRef="USD">2442469</ecd:AdjToCompAmt>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2025-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember"
      decimals="INF"
      id="Fact000077"
      unitRef="USDPShares">38.23</IDT:CommonStockClosingPrice>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember"
      decimals="0"
      id="Fact000078"
      unitRef="USD">-504993</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2024-08-012025-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember"
      decimals="0"
      id="Fact000079"
      unitRef="USD">-2524965</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember"
      decimals="0"
      id="Fact000080"
      unitRef="USD">309049</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember"
      decimals="0"
      id="Fact000081"
      unitRef="USD">179681</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember"
      decimals="0"
      id="Fact000082"
      unitRef="USD">898405</ecd:AdjToCompAmt>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember"
      decimals="INF"
      id="Fact000084"
      unitRef="USDPShares">38.23</IDT:CommonStockClosingPrice>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsAwardedInCurrentYearMember"
      decimals="0"
      id="Fact000085"
      unitRef="USD">297500</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsAwardedInCurrentYearMember"
      decimals="0"
      id="Fact000086"
      unitRef="USD">1487498</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsUnvestedInCurrentYearMember"
      decimals="0"
      id="Fact000087"
      unitRef="USD">285220</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsUnvestedInCurrentYearMember"
      decimals="0"
      id="Fact000088"
      unitRef="USD">1426101</ecd:AdjToCompAmt>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2024-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember"
      decimals="INF"
      id="Fact000090"
      unitRef="USDPShares">38.23</IDT:CommonStockClosingPrice>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember"
      decimals="INF"
      id="Fact000092"
      unitRef="USDPShares">23.63</IDT:CommonStockClosingPrice>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember"
      decimals="0"
      id="Fact000093"
      unitRef="USD">5434</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember"
      decimals="0"
      id="Fact000094"
      unitRef="USD">27172</ecd:AdjToCompAmt>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingAndUnvestedEquityAwardsMember"
      decimals="INF"
      id="Fact000096"
      unitRef="USDPShares">23.63</IDT:CommonStockClosingPrice>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember"
      decimals="0"
      id="Fact000097"
      unitRef="USD">-458786</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2023-08-012024-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember"
      decimals="0"
      id="Fact000098"
      unitRef="USD">-2293930</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember"
      decimals="0"
      id="Fact000099"
      unitRef="USD">11919</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsDidNotVestInCurrentYearMember"
      decimals="0"
      id="Fact000100"
      unitRef="USD">466487</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsDidNotVestInCurrentYearMember"
      decimals="0"
      id="Fact000101"
      unitRef="USD">2332436</ecd:AdjToCompAmt>
    <IDT:CommonStockClosingPrice
      contextRef="AsOf2023-07-31_ecd_NonPeoNeoMember_custom_OutstandingEquityAwardsMember"
      decimals="INF"
      id="Fact000103"
      unitRef="USDPShares">23.63</IDT:CommonStockClosingPrice>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountEquityAwardsVestedInCurrentYearMember"
      decimals="0"
      id="Fact000104"
      unitRef="USD">46314</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsVestedInCurrentYearMember"
      decimals="0"
      id="Fact000105"
      unitRef="USD">231570</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountEquityAwardsGrantInCurrentYearMember"
      decimals="0"
      id="Fact000106"
      unitRef="USD">-524720</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2022-08-012023-07-31_custom_AggregateAmountEquityAwardsGrantInCurrentYearMember"
      decimals="0"
      id="Fact000107"
      unitRef="USD">-2623200</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_ecd_PeoMember"
      decimals="0"
      id="Fact000108"
      unitRef="USD">53370</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_ecd_PeoMember_custom_IncreaseInAmountRelatedToFairMarketValueAwardsForServicesMember"
      decimals="0"
      id="Fact000109"
      unitRef="USD">319620</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_ecd_PeoMember_custom_DecreaseInAmountRelatedToFairMarketValueAwardsForServicesMember"
      decimals="0"
      id="Fact000110"
      unitRef="USD">-266250</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_ecd_NonPeoNeoMember"
      decimals="0"
      id="Fact000111"
      unitRef="USD">13583</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_IncreaseInAverageAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember"
      decimals="0"
      id="Fact000112"
      unitRef="USD">83334</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsVestedUponGrantBasedUponClosingPriceOfClassBCommonStockMember"
      decimals="0"
      id="Fact000113"
      unitRef="USD">416670</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_ecd_NonPeoNeoMember_custom_DecreaseInAverageAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember"
      decimals="0"
      id="Fact000114"
      unitRef="USD">-69751</ecd:AdjToCompAmt>
    <ecd:AdjToCompAmt
      contextRef="From2021-08-012022-07-31_custom_AggregateAmountOfEquityAwardsForServicesBasedUponPriceOfClassBCommonStockMember"
      decimals="0"
      id="Fact000115"
      unitRef="USD">-348753</ecd:AdjToCompAmt>
    <IDT:NumberOfRestrictedSharesGranted
      contextRef="From2020-08-012021-07-31_ecd_PeoMember"
      decimals="INF"
      id="Fact000117"
      unitRef="Shares">50</IDT:NumberOfRestrictedSharesGranted>
    <IDT:OutstandingCommonStockPercentage
      contextRef="From2020-08-012021-07-31_ecd_PeoMember"
      decimals="INF"
      id="Fact000119"
      unitRef="Ratio">0.05</IDT:OutstandingCommonStockPercentage>
    <IDT:NumberOfRestrictedSharesGranted
      contextRef="From2020-08-012021-07-31_ecd_NonPeoNeoMember"
      decimals="INF"
      id="Fact000121"
      unitRef="Shares">50</IDT:NumberOfRestrictedSharesGranted>
    <IDT:OutstandingCommonStockPercentage
      contextRef="From2020-08-012021-07-31_ecd_NonPeoNeoMember"
      decimals="INF"
      id="Fact000123"
      unitRef="Ratio">0.05</IDT:OutstandingCommonStockPercentage>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
