December 13, 2005
Timothy P. Enright
645 Martins Pond Road
Groton, MA 01450
On behalf of iBasis, Inc. (iBasis), it is a pleasure to extend to you an offer of employment as Senior Vice
President, Retail . In this position you will be assigned to our Burlington, Massachusetts, office and you will
report to Ofer Gneezy, President & Chief Executive Officer .
We anticipate your regular employment to begin on January 2, 2006. Your starting base salary of $180,000 will
be payable on a bi-weekly basis at a rate of $6,923.08.
In addition, you will also be eligible to receive an annual bonus, at plan, of $90,000. This bonus will be based on
the achievement of corporate net income for 2006. As with all iBasis executives, any such bonus is subject to
corporate performance generally, and remains at the discretion of the Compensation Committee of the Board of
A recommendation will be made to the Board of Directors to grant you the right to purchase 100,000 shares of
iBasis Inc. Incentive Stock Options. The Compensation Committee of the Board of Directors meets at the end of
the quarter to approve grants. The option price is based on fair market value. You will receive a copy of the
stock plan and your option grant agreement within ninety (90) days of its approval by the Board. These options
vest over a four-year period.
In the event that iBasis, Inc. (“Company”) terminates your employment without cause or you terminate your
employment for good reason, in either case within six months after the occurrence of an acquisition or change in
control, then the Company will continue to pay your base salary and provide health benefits for nine months and
your options shall immediately vest and become exercisable, and each option shall remain exercisable until the
expiration of the option or until it sooner terminates in accordance with its terms. The benefits, terms, and
terminology used here shall be accorded the meaning contained in, and b