EMPLOYMENT AGREEMENT

Employment Agreement

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This Employment Agreement involves

ARBINET CORP | Arbinet-thexchange, Inc

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Title: EMPLOYMENT AGREEMENT
Date: 6/18/2009
Industry: Business Services Sector: Services

EMPLOYMENT AGREEMENT, Parties: arbinet corp , arbinet-thexchange inc

EXHIBIT 10.1

First Amendment to the

EMPLOYMENT AGREEMENT

This First Amendment (the “Amendment”), is made as of the 16th day of June, 2009, to the Employment Agreement by and between Arbinet-thexchange, Inc. a Delaware corporation with its headquarters located in New Brunswick, New Jersey (the “Employer”), and Shawn F. O’Donnell (the “Executive”) made as of September 2, 2008 (the “Agreement”). In consideration of the mutual covenants contained in this Amendment, the Employer and the Executive desire to amend certain provisions of the Agreement as follows:

1. Section 3(d) is amended by deleting it in its entirety and substituting therefor the following:

(a) The Executive shall maintain a permanent residence in the New Jersey area no later than July 1, 2010.

2. Section 4(e)(iii)(B) is amended by deleting it in its entirety and substituting therefor the following:

&nbs

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