Document:

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                                                                    EXHIBIT 10.6

[*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT MARKED BY
BRACKETED ASTERISKS HAS BEEN OMITTED AND FILED SEPERATELY WITH THE SECURITIES
AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS
AMENDED.

                         AOL ONLINE SERVICES AGREEMENT

          THIS AOL ONLINE SERVICES AGREEMENT (this "Agreement"), dated as of
     _________, 2000 (the "Effective Date"), is entered into by and between
     America Online, Inc., ("AOL" or "Service Provider"), a corporation
     organized under the laws of the state of Delaware, having its principal
     offices at 22000 AOL Way, Dulles, Virginia, USA 20166-9323, and America
     Online Latin America, Inc., a Delaware corporation (the "Company" or
     "Recipient"), having its principal offices at 6600 N. Andrews Avenue, Suite
     500, Ft. Lauderdale, FL, USA 33309.

                                  WITNESSETH:
                                  ----------

          WHEREAS, Service Provider is engaged in the business of providing
     Interactive Services worldwide.

          WHEREAS, the Company operates and/or markets and supports the Business
     in the Territory through certain operating entities owned by the Company,
     including Recipient.

          WHEREAS, concurrent with the execution hereof, the Company and AOL
     have entered into the related AOL License Agreement (the "AOL License"),
     pursuant to which AOL has granted to the Company certain rights and
     licenses for conducting the Recipient Interactive Services. In connection
     therewith, and pursuant to the Related Agreements, AOL has agreed to extend
     to the Company certain services, including technical support, training and
     related services pertaining to AOL Services, that are necessary to Launch
     and operate the Recipient Interactive Services in the Territory, all as set
     forth in this Agreement.

          NOW, THEREFORE, in consideration of the mutual promises contained
     herein and other good and valuable consideration, the receipt and
     sufficiency of which is hereby acknowledged, the parties agree as follows:

                                  AGREEMENT:
                                  ---------

     1. DEFINITIONS; CONSTRUCTION. Capitalized terms used but not defined in the
     body of this Agreement shall have the meaning given to such terms in
     Attachment A. Other capitalized terms used without definition shall have
     ------------
     the meanings given in the AOL License. Unless the context clearly indicates
     otherwise, any term defined or used in the singular shall include the
     plural. Use of the term "include" or "including" shall be construed to mean
     "include without limitation" or "including without limitation", as
     applicable.

     2. PROVISION OF CERTAIN ONLINE SERVICES. In connection with the AOL
     License, and subject to the Related Agreements, Service Provider shall
     provide Recipient with the services described in this Section 2 in order to
     facilitate the Launch and operation by Recipient of AOL-branded PC Access
     Services in the Territory. At such time that the Board of Directors
     approves the development and Launch of one or more additional Recipient
     Interactive Service(s) in particular country(s) in the Territory pursuant
     to the Company's Certificate of Incorporation, Recipient shall notify
     Service Provider in writing of such approval and identify

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     the particular country(s) in the Territory and what Recipient Interactive
     Services are to be provided (such notice, the "Service Notice"), and
     Service Provider shall commence provision of the services described in this
     Section 2 in such countries and/or with respect to such additional
     Recipient Interactive Services.

          2.1  Consistency of AOL Services. The parties acknowledge and agree
               ---------------------------
     that it is necessary for Service Provider to maintain uniform standards
     governing all material facets of AOL Services in order to provide
     subscribers worldwide with high quality, cost effective and consistent
     levels of service, and to protect the reputation and goodwill associated
     with the AOL Services in the Interactive Services market. Accordingly,
     Service Provider shall provide Recipient with the services described herein
     in a manner consistent with such objectives.

          2.2  Licensed Product Development Services.
               -------------------------------------

               (a)  Launch Software. As promptly as practicable following the
                    ---------------
     date hereof, and pursuant to the terms and conditions of this Agreement,
     Service Provider shall provide Recipient with the launch software, in
     accordance with the requirements set forth in Attachment B (the "Launch
                                                   ------------
     Software"), to be used in connection with the Launch by Recipient of a PC
     Access Service in the country(s) in the Territory identified by Recipient
     as aforesaid. All Launch Software shall be deemed to be components of the
     Licensed Products. Recipient shall have the same license rights to the
     Launch Software as those rights granted to Recipient in Section 2 of the
     AOL License with respect to the Licensed Products. Recipient shall pay
     Service Provider for the localization of the Launch Software at MFN Rates.
     All payments under this Section 2.2(a) shall be made within twenty (20)
     Business Days following submission of quarterly invoices, which shall
     include a breakdown, on a time and material basis, in reasonable detail of
     the charges, in respect of the work carried out during the preceding
     quarter. Recipient shall pay Service Provider at MFN Rates for the
     internationalization or localization of post-Launch modifications to the
     Licensed Products in accordance with the process described in Section
     2.2(d) below.

               (b)  New AOL Developments. Service Provider shall provide
                    --------------------
     Recipient with New AOL Developments for the Recipient Interactive Services
     as described in this Section 2.2(b). At the beginning of each calendar
     quarter, Service Provider shall conduct a technology review and provide
     Recipient with Service Provider's New AOL Development intentions for that
     quarter with respect to the Recipient Interactive Services that Recipient
     is then providing. Recipient shall pay Service Provider at MFN Rates for
     any internationalization or localization required to implement New AOL
     Developments for such Recipient Interactive Services in accordance with the
     process described in Section 2.2(d) below. Recipient acknowledges and
     agrees that New AOL Developments shall be deemed to be Licensed Products
     under the AOL License. Recipient shall have the same license rights to the
     New AOL Developments as those rights granted to Recipient in Section 2 of
     the AOL License with respect to the Licensed Products. Consistent with
     Service Provider's Uniform Policies regarding New AOL Developments and,
     subject to Section 2.2 of the AOL License, Service Provider shall exercise
     commercially reasonably efforts to retain and grant to Recipient all rights
     with respect to Third Party Product enhancements on the same terms as set
     forth in Section 2.2 in the AOL License.

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               (c)  Requested Developments. Upon Recipient's request, and
                    ----------------------
     subject to the good faith agreement of Service Provider and Recipient in
     writing upon reasonable terms and conditions of such development, including
     commercially reasonable payment terms at MFN Rates, all in accordance with
     the process described in Section 2.2(d) below, Service Provider shall
     develop revisions, enhancements and/or modifications of the Licensed
     Products and provide other development services related to the Recipient
     Interactive Services that Recipient is then providing or in respect of
     which it has delivered a Service Notice ("Requested Developments").
     Recipient acknowledges and agrees that Requested Developments shall be
     deemed to be Licensed Products. Recipient shall have the same license
     rights to the Requested Developments as those rights granted to Recipient
     in Section 2 of the AOL License with respect to the Licensed Products.

               (d)  Process for Developments. The process for internationalizing
                    ------------------------
     and localizing New AOL Developments and for requesting Requested
     Developments shall be conducted through a marketing requirements document
     ("MRD") developed by AOL's international product marketing group in
     conjunction with Recipient, containing reasonably sufficient information in
     order for Service Provider to make a technical assessment and to provide an
     initial estimate of the timetable and total pricing for completion of the
     development services. Service Provider shall negotiate in good faith with
     Recipient all reasonable MRDs, provided that Recipient acknowledges and
     agrees that Service Provider will not accept MRDs that in Service
     Provider's reasonable opinion, may compromise security or performance or
     otherwise do not comply with AOL's Uniform Policies. If Service Provider
     reasonably believes that an MRD would have such effect, Service Provider
     shall exercise commercially reasonable efforts to assist Recipient in
     developing an MRD that does not have such effect but that provides the
     functionality that Recipient desires. Service Provider and Recipient
     recognize that the level of information required in an MRD will vary
     according to the specified functionality, but must contain a sufficient
     level of information and detail for Service Provider to assess fully the
     nature and scope of the project and its technical feasibility. The parties
     acknowledge that Recipient may need to consult with Service Provider's
     management, technology and international staffs in order to develop the
     MRD. Upon written acceptance of an MRD by Service Provider, Service
     Provider shall provide the applicable development services in accordance
     with the terms and conditions of such MRD, including commercially
     reasonable payment terms at MFN Rates.

          2.3  Training, Technical Support, Documentation and Additional Support
               -----------------------------------------------------------------
     Services
     --------

               (a)  Training and Technical Support.
                    ------------------------------

                    (i)  Scope. Service Provider shall provide Recipient with
                         -----
     the pre-Launch and post-Launch Training and Technical Support set forth in
     Attachment D with respect to PC Access Services and with appropriate
     ------------
     pre-Launch and post-Launch Training and Technical support as may be agreed
     by Service Provider and Recipient with respect to Wireless Access Services
     and TV Access Services in substantially the manner Service Provider is
     providing them in the United States after Recipient obtains the right to
     Launch such Services in the Territory. With respect to such Training and
     Technical Support, Service Provider reserves the right to amend
     Attachment D from time to time to permit Service Provider to make such
     ------------
     reasonable changes as are necessary for Service Provider to provide such
     items on a consistent worldwide basis; provided that any such amendment
     shall not increase the rates or expand the fee structure

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     applicable to Recipient any more than such rates are increased or fee
     structure expanded with respect to other JV Affiliates consistent with
     AOL's Uniform Policies. Service Provider shall provide Recipient with prior
     notice of such amendments to Attachment D.
                                  ------------

                    (ii)  Exchange Program. Service Provider shall, upon the
                          ----------------
     request of Recipient and subject to Service Provider's reasonable
     discretion and the availability of its personnel, send qualified English-
     speaking employees from among Service Provider's Content production and
     technical personnel to Recipient's offices to assist and train Recipient's
     Trainees. During the time such exchange personnel participate in the
     aforementioned exchange program, (i) Service Provider shall pay all of
     their salary and standard Service Provider benefits, and (ii) Recipient
     shall either pay or reimburse Service Provider for all of their air travel,
     lodging, local transportation, meals, and other out-of-pocket expenses
     associated with such travel; provided that such expenses conform to
     Recipient's general and reasonable policies regarding expenses for its own
     employees and such arrangement is at least as favorable as any similar
     arrangement with any JV Affiliate, taking into account any reasonable
     differences in payment or reimbursement policies due to differences in
     location. Recipient shall also pay or reimburse Service Provider for
     reasonable incremental expenses incurred by such exchange personnel as a
     result of their relocation and travel, including increased cost of living,
     increased tax burden, or other factors attendant to relocating to a
     different country.

                    (iii) Contacts.  Service Provider shall promptly after the
                          --------
     Effective Date and as necessary from time to time thereafter provide
     Recipient with an up-to-date list of contact names and telephone numbers of
     the individuals providing Training and Technical Support.

               (b)  Documentation. The Documentation and Confidential
                    -------------
     Information identified in Attachment B of the AOL License shall be
                               ------------
     periodically updated by Service Provider. After a Service Notice and
     thereafter from time to time as necessary to reflect updates, Recipient
     will receive one (1) print and computer-readable copy of each final,
     finished release of such Documentation and Confidential Information in
     English as it becomes available.

               (c)  Licensed Product Support and Maintenance.
                    ----------------------------------------

                    (i)  Error Correction; Virus Deletion. Recipient shall
                         --------------------------------
     promptly disclose to Service Provider any Errors or Viruses in the Licensed
     Products of which Recipient becomes aware. The minimum amount of
     information to be provided when disclosing an Error or a Virus is set forth
     in Attachment C. Service Provider shall, at no charge to Recipient, use
        ------------
     commercially reasonable efforts to (i) correct any material, replicable
     Errors in Licensed Products, and (ii) use industry-standard software
     programs to detect material Viruses and to delete material Viruses in the
     Licensed Products. However, if Recipient is determined to have been either
     the source or direct conduit for the Error or Virus, Recipient shall
     promptly pay Service Provider for such Error Correction or Virus Deletion,
     as the case may be, on a commercially reasonable time and materials basis
     at MFN Rates. Service Provider shall assign the same priority and apply the
     level of effort that Service Provider uses for similar priority Errors or
     Viruses for the AOL-US Service, as set forth in Attachment C, and will
                                                     ------------
     promptly on commercially reasonable terms and conditions (A) supply the
     Error Correction to Recipient when available and/or (B) perform the Virus
     Deletion. Service Provider shall have the right to amend from time to time
     the AOL Error Correction and/or Virus Deletion Policies set forth in

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     Attachment C, respectively, if such amendment is made in connection with a
     ------------
     change in AOL's worldwide Error Correction or Virus Deletion Policy, as the
     case may be, and applies substantially equally to all AOL Services,
     including the AOL-US Service. Service Provider shall provide Recipient with
     prior notice of such amendments.

                    (ii)   Other Maintenance Terms. With respect to Third Party
                           -----------------------
     Products, Service Provider shall provide Recipient with all associated
     third-party support and maintenance rights, including error correction
     and/or deletion of Viruses, as applicable, to the extent that Service
     Provider may grant or pass through to Recipient such rights at no
     additional cost to Service Provider; provided, however, that Service
     Provider shall have no obligation to obtain such support and maintenance
     rights for Recipient other than to provide Recipient commercially
     reasonable assistance in obtaining maintenance service for Third Party
     Products at rates at least as favorable as those applicable to any JV
     Affiliate, subject to any reasonable difference in rates or cost due to
     location, usage or other reasonable factors that might impact the level and
     cost of support and maintenance. To the extent Recipient receives the right
     to use a Third Party Product and Service Provider pays the maintenance fees
     for such Product, Recipient shall promptly reimburse Service Provider for
     that percentage of such maintenance fees attributable to Recipient's use of
     that Third Party Product.

               (d)  Additional Support Services. Service Provider shall provide
     Recipient additional support services relating to the Licensed Products at
     MFN Rates.

          2.4  Host Computer Access and Operations.
               -----------------------------------

               (a)  Access.  Service Provider shall provide Recipient with Host
                    ------
     Computer Access as necessary to operate Recipient Interactive Services in a
     manner substantially similar to the AOL-US Services and Recipient shall
     compensate Service Provider for such access at MFN Rates.

               (b)  Information Provider Connection.  Upon Recipient's request
                    -------------------------------
     and at Recipient's expense, Service Provider shall provide Recipient's
     Content providers with the capability to make a network connection to the
     AOL Services host system via direct TCP/IP or other mutually agreeable
     network connection for the purpose of permitting such providers to provide
     and manage Recipient Interactive Service Content with respect to PC Access
     Services and, if applicable, with respect to Wireless Access Services and
     TV Access Services after Recipient obtains the right to Launch such
     Services in the Territory. Recipient shall have the right to seek
     reimbursement from its Content providers for the cost of such network
     connections; provided, however, that Recipient shall remain primarily
     liable for such costs in any event.

               (c)  Operations. Subject to Section 2.4(a), Service Provider
                    ----------
     shall have the sole right within its complete discretion to control the
     operations of its computers providing Host Computer Access to Recipient. On
     the Effective Date, computers providing Host Computer Access for all AOL
     Services are located in the United States. Subject to approval by the Board
     of Directors, computers providing Host Computer Access for the Recipient
     Interactive Services may be located remotely within the Territory if
     technically and financially feasible, provided that: (i) such operations
     shall be subject to a remote host computer access technical plan to be
     developed by Service Provider, in consultation with Recipient and the
     Company, and

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     (ii) Recipient and the Company shall compensate Service Provider for
     services in connection with the implementation and operation of any remote
     Host Computer Access at applicable MFN Rates.

          2.5  Interconnection.
               ---------------

               (a)  AOL-branded Access Services Interconnection. With respect to
                    -------------------------------------------
     AOL-branded PC Access Services, and, following their Launch by Recipient,
     AOL-branded TV Access Services, AOL-branded Wireless Access Services and
     Internet Portal Services operated by Recipient, Service Provider shall
     provide Recipient with a non-exclusive Interconnection between the AOL
     Services and the AOL-branded Recipient Interactive Services. Likewise, with
     respect to PC Access Services, and, following their Launch by Recipient, TV
     Access Services, Wireless Access Services, and Internet Portal Services,
     Recipient shall provide, to such AOL Services providing such access,
     substantially comparable non-exclusive Interconnection to such AOL-branded
     Recipient Interactive Services. Both parties acknowledge that such
     Interconnection between and among the AOL Services, as well as access to
     each AOL Service's Content, shall be subject to the Related Agreements and
     any technical limitations of the Recipient Interactive Services which are
     not due to the failure of Service Provider to meet its obligations under
     this Agreement or the AOL License (e.g. a different operating system is
     required, as is the case with the AOL Service in Japan).

               (b)  Other AOL Services Interconnection.
                    ----------------------------------

                    (i)  AOL-branded Internet Portal Services Interconnection.
                         ----------------------------------------------------
     Subject to and in accordance with the Related Agreements, if AOL is
     entitled to and offers an AOL-branded Internet Portal Service in the
     Territory, then AOL and its Affiliates shall have the right to Interconnect
     (subject to applicable limitations in agreements with third parties) such
     AOL-branded Internet Portal Service with: (A) any AOL-branded Access
     Services, and (B) any AOL-branded Internet Portal Services (to the extent
     offered by Recipient pursuant to Section 2.9(a) of the AOL License), in
     each case then being offered by Recipient. Specifically, in such event: (1)
     Recipient shall provide, to such AOL Services providing such access,
     substantially comparable non-exclusive Interconnection to such AOL-branded
     Recipient Interactive Services, and (2) Recipient shall be entitled to
     receive reasonable compensation for Interconnection in the amount of (y) an
     allocation of ongoing costs of running the applicable AOL-branded
     Interactive Service offered by Recipient reasonably allocable to such
     Interconnection plus (z) the amount that third parties pay for access to
     Content of the applicable Recipient Interactive Service offered by
     Recipient, if anything, to the extent that such Interconnection results in
     access to such Content.

                    (ii) License to Certain Recipient Content. If AOL and its
                         ------------------------------------
     Affiliates have the right to Interconnect to AOL-branded Interactive
     Services offered by Recipient in the Territory pursuant to paragraph (i)
     above, Recipient hereby grants to AOL and its Affiliates the non-
     transferable (except as expressly provided herein) right to access, and to
     grant to subscribers to AOL Services the right to access, Content available
     through any such Interconnected AOL-branded Interactive Services offered by
     Recipient, including access to Recipient Content and other Content, but
     excluding Restricted Content.

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          2.6  AOL Operating Standards.  The Parties agree that Recipient shall
               -----------------------
     exercise commercially reasonable efforts to implement and maintain
     reasonable operating standards, specifications and procedures ("AOL
     Operating Standards") as follows:

               (a)  As to each of the AOL Operating Standards set forth in
     Attachment E, Service Provider shall, with respect to PC Access Services,
     ------------
     prescribe, and Recipient shall implement and maintain, such AOL Operating
     Standards, provided that such AOL Operating Standards shall be applied to
     Recipient in a manner that is not less favorable to Recipient than the
     manner in which such AOL Operating Standards are applied to other JV
     Affiliates.

               (b)  As to other operating matters, such as sales, marketing,
     customer service, business development and Content programming, Service
     Provider shall provide advice to Recipient, to which Recipient shall give
     good faith consideration.

               (c)  Service Provider may provide Recipient with any changes to
     the AOL Operating Standards in writing from time to time and Recipient
     shall implement such changes to AOL Operating Standards in accordance with
     commercially reasonable schedules to the extent that such changes do not
     materially expand or modify the categories of standards described therein
     and do not unreasonably interfere with the operations of Recipient.

               (d)  For the avoidance of doubt, the Parties agree that (i) any
     standard, specification or procedure relating to interoperability of the
     AOL Services shall be conclusively deemed to be subject to subsection (a)
     above, and (ii) Recipient agrees not to adopt or implement any standard,
     specification or procedure relating to such interoperability without the
     prior approval of Service Provider, provided that Service Provider agrees
     to provide any changes or enhancements to the AOL Operating Standards in a
     commercially reasonable manner such that Recipient may implement such
     changes or enhancements without unreasonable interference with its
     operations.

               (e)  Service Provider and Recipient shall each designate one
     individual having appropriate qualifications to confer on a regular basis
     regarding AOL Operating Standards and their implementation and maintenance.

          2.7  Rights of Operating Entities. Recipient may direct that the
               ----------------------------
     services from Service Provider to which it is entitled hereunder are to be
     provided for the benefit of Operating Entities that are established
     pursuant to the Certificate of Incorporation. All such services provided
     for the benefit of Operating Entities hereunder shall be subject to all of
     the terms and conditions of this Agreement and the Related Agreements.

     3.   REPRESENTATIONS AND WARRANTIES AND RELATED MATTERS.

          3.1  Service Provider.  Service Provider represents and warrants to
               ----------------
     Recipient that the execution, delivery and performance of this Agreement
     have been duly authorized by all necessary action of Service Provider and
     this Agreement is a valid and binding obligation of Service Provider,
     enforceable in accordance with its terms, except as such enforcement may be
     limited by bankruptcy, insolvency, fraudulent conveyance or other similar
     laws affecting the enforcement of creditor's rights generally and subject
     to the applicability of general principles of equity and principles of
     public policy.

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          3.2  Recipient. Recipient represents and warrants to Service Provider
               ---------
     that the execution, delivery and performance of this Agreement have been
     duly authorized by all necessary action of Recipient and this Agreement is
     a valid and binding obligation of Recipient, enforceable in accordance with
     its terms, except as such enforcement may be limited by bankruptcy,
     insolvency, fraudulent conveyance or other similar laws affecting the
     enforcement of creditor's rights generally and subject to the applicability
     of general principles of equity and principles of public policy.

          3.3  DISCLAIMER OF OTHER WARRANTIES. EXCEPT AS EXPRESSLY PROVIDED IN
               ------------------------------
     THIS SECTION 3, SERVICE PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES
     WITH RESPECT TO THE SERVICES PROVIDED HEREUNDER. SERVICE PROVIDER DISCLAIMS
     ALL OTHER WARRANTIES, EXPRESS AND IMPLIED, INCLUDING, WITHOUT LIMITATION,
     IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND
     TITLE.

          3.4  LIMITATION OF LIABILITY. EXCEPT AS EXPRESSLY PROVIDED IN SECTION
               -----------------------
     3.5, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR INDIRECT,
     INCIDENTAL OR SPECIAL DAMAGES, LOST PROFITS, LOST SAVINGS OR ANY OTHER
     CONSEQUENTIAL OR SIMILAR DAMAGES, REGARDLESS OF THE FORM OF ACTION, EVEN IF
     THAT PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, RESULTING
     FROM BREACH OF ITS OBLIGATIONS UNDER THIS AGREEMENT.

          3.5  Indemnity.
               ---------

          (a)  Service Provider shall, at its expense, defend any action, suit
     or proceeding brought (other than by any shareholder of Recipient or any
     Affiliate of Recipient) against Recipient or any Affiliate thereof, to the
     extent it results from breach of a representation or warranty by Service
     Provider under Section 3.1 above and Service Provider shall indemnify and
     hold Recipient and/or any Affiliate of Recipient thereof harmless from and
     against all damages, costs, expenses (including, but not limited to,
     attorneys' fees), obligations or liabilities payable by Recipient and/or
     any Affiliate thereof to any third party (other than any shareholder of
     Recipient or any Affiliate of Recipient) directly relating to or resulting
     from any such action, suit or proceeding, provided, however, that Service
     Provider shall not settle any claim without Recipient's prior written
     approval, not to be unreasonably withheld, delayed or conditioned.

          (b)  Recipient shall, at its expense, defend any action, suit or
     proceeding brought by any party against Service Provider or any Affiliate
     thereof, to the extent it results from breach of a representation or
     warranty by Recipient under Section 3.2 above and Recipient shall indemnify
     and hold Service Provider and/or any Affiliate thereof harmless from and
     against all damages, costs, expenses (including, but not limited to,
     attorneys' fees), obligations or liabilities payable by Service Provider
     and/or any Affiliate thereof to any third party (other than any Affiliate
     of Service Provider) directly relating to or resulting from any such
     action, suit or proceeding, provided, however, that Recipient shall not
     settle any claim without Service Provider's prior written approval, not to
     be unreasonably withheld, delayed or conditioned.

                                      -8-
<PAGE>

          (c)(i) If, and to the extent that, the Company, Recipient, any other
     Operating Entity, any stockholder of the Company, any equity holder of
     Recipient or any other Operating Entity, or any other Person brings any
     Action against Service Provider (or any of its officers, directors, agents,
     shareholders, members, partners, Affiliates or Subsidiaries) seeking any
     Damages or injunctive or other equitable relief based on, arising out of or
     relating to any breach or alleged breach of any fiduciary or other duty
     based on any action or inaction which is permitted by or taken or not taken
     in reliance on  the provisions of Article THIRD of the Certificate of
     Incorporation, Recipient shall indemnify and hold such Persons harmless
     from and against all Damages arising out of or in connection with any such
     Action. The right to indemnification conferred herein shall include the
     right to be paid by Recipient an Advancement of Expenses.  Neither Service
     Provider nor any other Person entitled to indemnification under this
     Section 3.5(c) shall be required, as a condition to any such Advancement of
     Expenses, be required to deliver to Recipient any Undertaking.  The rights
     to indemnification and to the Advancement of Expenses conferred herein
     shall inure to the benefit of the indemnitee's successors, assigns, heirs,
     executors and administrators.

          (ii)   If a claim for indemnification under this Section 3.5(c) is not
     paid in full by Recipient within sixty (60) days after a written claim has
     been received by Recipient, except in the case of a claim for an
     Advancement of Expenses, in which case the applicable period shall be
     twenty (20) days, the indemnitee may at any time thereafter bring suit
     against Recipient to recover the unpaid amount of the claim. If successful
     in whole or in part in any such suit, or in a suit brought by Recipient to
     recover an Advancement of Expenses, the indemnitee shall be entitled to be
     paid also the expense of prosecuting or defending such suit.  In any suit
     brought by the indemnitee to enforce a right to indemnification or to an
     Advancement of Expenses hereunder, or brought by Recipient to recover an
     Advancement of Expenses pursuant, the burden of proving that the indemnitee
     is not entitled to be indemnified, or to such Advancement of Expenses,
     under this Section 3.5(c) or otherwise, shall be on Recipient.

          (iii)  The rights to indemnification and to the Advancement of
     Expenses conferred in this Section 3.5(c) shall not be exclusive of any
     other right which any person may have or hereafter acquire by any statute,
     the Certificate of Incorporation, the Company's By-laws, or any agreement,
     vote of stockholders or other equity holders, disinterested directors or
     otherwise.

     3.6  Indemnification Procedures.  The indemnified party shall (i) give the
          --------------------------
indemnifying party prompt written notice of such action, or proceeding (and in
no event more than seven (7) Business Days following the indemnified party's
receipt of notice of such suit, action or proceeding), (ii) at the indemnifying
party's request and expense, permit the indemnifying party, through its counsel,
to defend such claim or suit, and (iii) give the indemnifying party reasonable
information, assistance and authority to do so.  To the extent the indemnified
party fails to provide notice as required above and such failure hinders the
indemnifying party's ability to perform its indemnification obligations set
forth in Section 3.5, then such indemnification obligations shall be waived to
an extent commensurate with the hindrance caused by such delay in notification
or failure to notify.  The indemnifying party shall

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<PAGE>

have exclusive control of the defense if it elects to defend any such suit,
including appeals, negotiations and the right to effect a settlement or
compromise thereof (provided that, as a condition to any such settlement or
compromise, the indemnified party shall not incur any liability or obligation).
The indemnified party may be represented by counsel at its own expense in any
action being defended by the indemnifying party. Notwithstanding anything to the
contrary contained in the foregoing, in the event Service Provider is the
indemnified party with respect to any intellectual property claim, Service
Provider shall have the right to exclusive control of the defense, at
Recipient's reasonable cost and expense, if it elects to defend any such suit,
including appeals, negotiations and the right to effect a settlement or
compromise thereof; provided, however that Recipient shall have the right to
participate in settlement negotiations, if any, and shall have the right to
approve such settlement, which shall not be unreasonably withheld, delayed or
conditioned. Recipient shall reimburse Service Provider for all of Service
Provider's reasonable costs and expenses in connection with such defense and for
any damages or other liability in connection therewith, including any settlement
obligations.

4.   CONFIDENTIALITY.

     4.1  Restriction on Use.  Each party shall treat as confidential all
          ------------------
Confidential Information of the other party and shall use such Confidential
Information only to the extent necessary (a) to allow Recipient to provide
Recipient Interactive Services as contemplated under this Agreement or (b) as
permitted under the AOL License.  Neither party shall disclose any such
Confidential Information to any third party except as may be reasonably required
in connection with the use of Licensed Products or Documentation pursuant to
this Agreement or the AOL License, and in all cases subject to the Recipient
entering into a written confidentiality agreement imposing obligations upon such
third party that are at least as protective of such information as those set
forth in this Agreement.  Without limiting the foregoing, each party agrees to
use at least the same degree of care with respect to the Confidential
Information of the other which it uses to protect its own similarly valuable
Confidential Information from unauthorized disclosure or use, but no less than a
reasonable standard of care.

     4.2  Termination of Obligations.  The parties' obligations under this
          -------------------------
Section 4 shall survive any termination of this Agreement; provided, however,
such obligations shall terminate (a) five (5) years after such termination with
respect to Confidential Information regarding financial and marketing matters
and (b) ten (10) years after such termination with respect to all other
Confidential Information (except for Source Code for which such obligations
shall continue as long as such Source Code is protected by the laws applicable
to trade secrets or similar legal principles).

5.   TERM; TERMINATION.

     5.1  Term. The term of this Agreement shall begin on the Effective Date and
          ----
shall terminate only as provided in Section 5.2.; provided, however, that
notwithstanding the foregoing, this Agreement shall terminate automatically upon
the termination of the AOL License for any reason.

     5.2  Termination for Cause. Service Provider may terminate this Agreement
          ---------------------
effective upon notice to Recipient if (A)(i) Recipient materially breaches
Recipient's obligations to make

                                      -10-
<PAGE>

payments to Service Provider under this Agreement, including, without
limitation, any indemnity payments required under Sections 3.5 or 3.6, or (ii) a
Senior Executive Officer of Recipient intentionally breaches, or knowingly
permits an intentional breach of, Recipient's obligations pursuant to Section 4
or, with respect only to the initial press release regarding this Agreement,
pursuant to Section 7.13, and such breach results in substantial adverse
consequences to Service Provider, and (B) Recipient fails to cure such breach
within ninety (90) calendar days after receipt by Recipient of written notice of
such breach.

     5.3  Effect of Termination. Notwithstanding the foregoing provisions of
          ---------------------
this Section 5, Section 1 (and any other defined term herein), Sections 3.3,
3.4, 3.5, 3.6 and 4, this Section 5.3, Section 6.1 and Section 7 shall survive
any termination of this Agreement.

6.   RECIPIENT BREACHES. The parties acknowledge and agree that, in the event of
a threatened or actual breach of Section 4 or 7.13 or an actual breach of any
other provision of this Agreement and failure to cure any such breach within
thirty (30) calendar days following notice thereof from the other party, damages
alone shall be an inadequate remedy, that such breach shall cause the other
party great, immediate and irreparable injury and damage, and that, accordingly,
each party shall be entitled to injunctive and other equitable relief, including
mandatory injunctive relief and specific performance, in addition to, and not in
lieu of, any remedies it may have at law or under this Agreement. Recipient
further acknowledges and agrees that Service Provider shall be entitled to all
damages as a remedy for such breach (except a threatened breach of Section 4) to
the full extent permitted under Sections 3.4 and 3.5 above.

7.   GENERAL PROVISIONS.

     7.1  Relationship of Parties. The parties are and shall be independent
          -----------------------
contractors. Neither party, its employees, consultants, third party contractors
or agents shall be deemed under this Agreement to be the agents, employees,
partners or joint venturers of the other, nor does either party have any
authority to enter into any obligation on behalf of the other. Neither party
shall make any express or implied representations to any third party to the
contrary.

     7.2  No Use of Name or Trademarks. Subject to Section 7.13 below and, in
          ----------------------------
the absence of the other party's prior written consent or a separate agreement
between the parties hereto to the contrary, neither party shall be entitled to
use the name of the other in promotional, advertising and other similar
materials, it being understood that this shall not restrict either party from
reference to the relationship between the parties to the extent required by law
in connection with financial disclosure or similar requirements. Except as set
forth in Section 4 of the AOL License, neither party will, without the other's
prior written approval of such proposed use, use the other's trademarks, service
marks, trade names, logos or other commercial or product designations, for any
purpose (including, but not limited to, use in connection with any products,
promotions, advertisements or exhibitions).

     7.3  Assignment. The rights and liabilities of the parties hereto shall
          ----------
bind and inure to the benefit of their respective permitted successors; provided
that neither party may assign its rights or obligations under this Agreement,
either in whole or in part, without the prior written consent of the other.
Notwithstanding the foregoing, Recipient may direct that the services to be
provided by Service Provider hereunder are to be provided for the benefit of
Wholly Owned

                                      -11-
<PAGE>

Affiliates of Recipient for so long as such entities remain Wholly-Owned
Affiliates, and Service Provider may assign any of its rights and obligations
hereunder to any Wholly-Owned Affiliate or Affiliates. Any attempted assignment
in violation of the provisions of this Section 7.3 shall be void. For avoidance
of doubt, no assignment shall relieve any party of any of its obligations under
this Agreement. If Service Provider makes any assignment in accordance with this
Section 7.3, then Service Provider shall contemporaneously therewith execute an
unconditional guarantee for the benefit of Recipient in the form of the AOL
Guarantee, adjusted only as necessary to reflect that the obligations guaranteed
under such guarantee shall be the obligations of Service Provider under this
Agreement.

     7.4  Governing Law. This Agreement shall be construed and enforced in
          -------------
accordance with the laws of the State of New York, USA, but without giving
effect to its laws or rules relating to conflicts of laws, the Uniform
Commercial Code, or the United Nations Convention on Contracts for the
International Sale of Goods. To permit the enforcement of judgments entered
under this Section 7.4 and the application of judicial injunctive relief as
permitted hereunder, each party consents to the jurisdiction of the courts in
the place where such judgment enforcement or injunctive relief is sought. Each
party waives any objection it otherwise may have to the personal jurisdiction
and venue of such courts.

     7.5  Severability. If any provision of this Agreement shall be held to be
          ------------
illegal, invalid or unenforceable, that provision of the Agreement shall be
enforced to the maximum extent permissible so as to give effect to the intent of
the parties, and the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby. In such event,
the parties agree to negotiate in good faith alternate provisions to substitute
for any such provisions in order to give effect, to the maximum extent
permissible, the intent of any such provision.

     7.6  Notices. All notices, requests, demands and other communications
          -------
hereunder shall be in writing in English and shall be deemed to have been duly
given (except as may otherwise be specifically provided herein to the contrary):
(a) if delivered by hand or courier service which provides evidence of delivery
to a party to whom said notice or other communication shall have been directed,
upon such receipt, (b) if mailed by registered or certified U.S. air mail with
postage prepaid, return receipt requested, on the seventh Business Day after
mailing, or (c) if transmitted by telefax, on the date of transmission, (d) if
delivered by e-mail on the day of dispatch, with such transmittal followed by
delivery of a confirmation copy via one of the other methods set out herein. All
notices shall be addressed as set forth below or to any other address such Party
shall notify to the other party in accordance with this Section 7.6:

     If to Service Provider, to:

          America Online, Inc.
          22000 AOL Way
          Dulles, Virginia 20166-9323,
          Attention: President AOL-International
          Telefax: 703-265-2502

                                      -12-
<PAGE>

     with a copy to:

          America Online, Inc.
          22000 AOL Way
          Dulles, Virginia 20166-9323,
          Attention: General Counsel
          Telefax: 703-265-2208

     If to Recipient, to:

          America Online Latin America, Inc.
          6600 N. Andrews Avenue, Suite 500
          Fort Lauderdale, FL 33309, USA
          Attn: President
          Fax No.: (954) 772-7089

     with a copy to

          America Online, Inc.
          22000 AOL Way
          Dulles, VA 20166-9323
          Attention: General Counsel
          Fax: 703-265-2208

          and

          Finser Corporation
          550 Biltmore Way
          Suite 900
          Coral Gables, FL 33134
          Attention: Legal Department
          Fax: (305) 447-1389

     7.7  No Waiver. Failure by either party to enforce any provision of this
          ---------
Agreement shall not be deemed a waiver of future enforcement of that or any
other provision.

     7.8  No Rights in Third Parties. This Agreement is made for the benefit of
          --------------------------
Service Provider and Recipient and not for the benefit of any third parties
other than Operating Joint Entities and Distributors as provided herein.

     7.9  Counterparts. This Agreement may be executed in one or more
          ------------
counterparts, each of which shall be deemed an original, but which collectively
shall constitute one and the same instrument.

                                      -13-
<PAGE>

     7.10 Headings and References. The headings and captions used in this
          -----------------------
Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

     7.11 Construction. This Agreement has been negotiated by the parties and
          ------------
their respective counsel. This Agreement shall be interpreted fairly in
accordance with its terms and without any strict construction in favor of or
against either party.

     7.12 Audit Rights. Each party hereto and its representatives shall have
          ------------
the right to examine, copy and audit the books and records of the other party
relating to this Agreement for purposes of verifying the timely payment of all
amounts payable hereunder or the basis for any costs or fees claimed, as the
case may be, upon not less than ten (10) Business Days' prior written notice,
and in any event no more frequently than quarterly. In the event that any such
review shall determine (a) a deficiency in an amount of such access or service
fees exceeding five percent (5%) of the amount paid or (b) claims of costs or
fees exceeding by five percent (5%) the actual amount owed, as the case may be,
the other party shall pay the out-of-pocket expenses incurred in connection with
such review, including all professional fees, and shall pay all delinquent and
undisputed amounts or refund all overcharged amounts, as the case may be, within
fifteen (15) Business Days of receipt of written notice thereof.

     7.13 Publicity. Except as may be required by law or in response to an order
          ---------
of a court or governmental agency (provided, however, the discloser shall
provide prompt notice thereof to the other Party and a reasonable opportunity to
seek to prevent or limit such disclosure), the execution and content of this
Agreement and the transactions contemplated herein shall be kept in confidence
by the parties, and neither party shall make any public announcement or issue
any press release relating thereto without the prior written approval of the
other party and, in the case of Recipient, subject to the delivery of a complete
and accurate English translation thereof to Service Provider at least three (3)
Business Days prior to any such public announcement or issuance.

     7.14 Taxes. Recipient shall be responsible for the collection of any and
          -----
all value added, consumption, sales, use or similar taxes and fees payable with
respect to the performance of services or provision of Host Computer Access
provided hereunder in the Territory and shall pay such collected taxes to the
relevant tax authorities. Recipient shall be entitled to collect from the
relevant payee or payor any such taxes owed. The following two examples
illustrate, without limitation, the foregoing terms. Subscribers of the
Recipient Interactive Service shall bear the cost of any relevant taxes;
Recipient shall collect and pay such taxes to the relevant tax authorities.
Service Provider shall bear the cost of any applicable income or withholding
taxes for service fees to be paid to it by Recipient; Recipient shall collect
and pay such withholding taxes to the relevant tax authorities.

     7.15 Further Assurances. Each party shall perform all other acts and
          ------------------
execute and deliver all other documents as may be necessary to secure all
necessary authorizations and approvals by this Agreement of all applicable local
and U.S. governmental bodies.

     7.16 Export Controls. Each party shall comply with all applicable United
          ---------------
States laws, regulations and executive orders relating to the export of
Confidential Information and technical

                                      -14-
<PAGE>

information and data and any other sensitive materials and with local and all
other national laws and regulations relating to such information and materials,
including those relating to their exportation and importation. Each party shall
cooperate with the other party as reasonably requested to permit each party to
comply with the laws and administrative regulations of the United States and the
jurisdictions within the Territory controlling the export of commodities and
technical data.

     7.17 Complete Agreement. This Agreement, including all attachments hereto
          ------------------
which are incorporated herein by reference and all related agreements constitute
the entire agreement between the parties with respect to the subject matter
hereof, and supersede and replace all prior or contemporaneous understandings or
agreements, written or oral, regarding such subject matter. No amendment to or
modification of this Agreement shall be binding unless in writing and signed by
a duly authorized representative of both parties.

     7.18 Further Assurances. Each party shall perform all other acts and
          -------------------
execute and deliver all other documents as may be necessary to secure all
necessary authorizations and approvals of this Agreement by all applicable local
and U.S. governmental bodies. In addition, if and when the Company and Recipient
shall obtain the right to offer such TV Access Services and Wireless Access
Services in the Territory, AOL shall negotiate with Recipient regarding such
modifications to this Agreement, including the attachments hereto, as reasonably
may be necessary or required to enable Recipient to provide such TV Access
Services and Wireless Access Services in the Territory in a manner substantially
similar to the basis on which it is providing such services in the United
States.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their duly authorized representatives as of the date set forth below.

AMERICA ONLINE LATIN             AMERICA ONLINE, INC.
AMERICA, INC.

By: /s/ Charles M. Herington     By: /s/ J. Michael Kelly
    ------------------------         ------------------------
Name:   Charles M. Herington     Name:   J. Michael Kelly
      ------------------------         ------------------------
Title:  President and CEO        Title:  Senior Vice President and CFO
       ------------------------         -------------------------------

                                      -15-
<PAGE>

                              LIST OF ATTACHMENTS

     Attachment A   Definitions

     Attachment B   Launch Software Specifications

     Attachment C   Error Correction and Virus Deletion Policies

     Attachment D   Training and Technical Support

     Attachment E   AOL Operating Standards

     Attachment F   MFN Rates

                                      -16-
<PAGE>

                                 ATTACHMENT A

                                  Definitions

     As used in this Agreement, the following terms, whether in the singular or
the plural, have the following meanings:

     1.   "Access Services" shall mean, collectively, PC Access Services, TV
Access Services and Wireless Access Services.

     2.   "Action" shall have the meaning set forth in the Certificate of
Incorporation.

     3.   "Advancement of Expenses" shall have the meaning set forth in the
Certificate of Incorporation.

     4.   "Affiliate" shall mean, for purposes of this Agreement, as to any
Person, any other Person that, directly or indirectly, controls, is under common
control with, or is controlled by, that Person, provided neither Recipient nor
any other Operating Entity shall be considered an Affiliate of AOL. For
avoidance of doubt, any Person (other than Recipient and any other Operating
Entity) that is controlled by the Cisneros Family shall be deemed to be an
Affiliate of ODC. For purposes of this definition "control" (including, with its
correlative meanings, the terms "controlled by" and "under common control
with"), as used with respect to any Person, shall mean the possession, directly
or indirectly, of the power to direct or cause the direction of the management
and policies of such Person, whether through the ownership of voting securities
or by contract or otherwise.

     5.   "AOL-branded" shall have the meaning set forth in the AOL License.

     6.   "AOL Guarantee" shall have the meaning set forth in the AOL License.

     7.   "AOL License" shall have the meaning set forth in the recitals hereto.

     8.   "AOL Services" shall mean, initially, the Interactive Services that
are PC Access Services provided worldwide, including the AOL-US Service and any
other international AOL Services, under the brand name America Online(TM) and/or
AOL(TM) existing as of the Effective Date or in the future and modified from
time to time. From and after the date that any additional Recipient Interactive
Services are provided by Recipient in accordance with the provisions hereof, the
AOL License and the Certificate of Incorporation, AOL Services shall be deemed
to include such additional Recipient Interactive Services provided worldwide,
including the comparable AOL-US Service and any other international AOL
Services, under the brand name America Online(TM) and/or AOL(TM) existing as of
Launch of such additional Recipient Interactive Services or in the future and
modified from time to time.

     9.   "AOL Seventy-Five Percent Affiliate" means any Person in which AOL or
any of Affiliates owns, directly or indirectly through any Person or Persons, at
least seventy-five percent (75%) of the equity interests.

                                      -17-
<PAGE>

     10.  "AOL-US Service" means the principal AOL Service provided by AOL to
United States residents on the date hereof, as such service shall be modified
from time to time.

     11.  "Business" shall mean Interactive Services that Recipient elects to
pursue, including Interactive Services substantially similar to the AOL-US
Service (but adapted to the local markets), in accordance with the provisions of
the Related Agreements.

     12.  "Board of Directors" shall have the meaning set forth in the
Certificate of Incorporation.

     13.  "Business Day" shall mean any day on which commercial banks are not
authorized or required to close in New York, New York, USA.

     14.  "Certificate of Incorporation" shall mean the Restated Certificate of
Incorporation of the Company as in effect from time to time.

     15.  "Cisneros Family" shall mean Ricardo Cisneros, Gustavo Cisneros and/or
their lineal descendants, individually or collectively and/or any trusts for the
exclusive benefit of any one or more of such persons

     16.  "Client Product" shall have the meaning set forth in the AOL License.

     17.  "Communication Services" includes chat, e-mail, message boards, online
transactions and other forms of online interaction.

     18.  "Confidential Information" shall have the meaning set forth in the AOL
License.

     19.  "Content" shall mean either (i) text or (ii) multimedia information
which contains one or any combination of any of the following in digital form or
such other forms as may become available in the future: text, graphics, video,
sound, still images, or the like.

     20.  "Damages" shall have the meaning set forth in the Certificate of
Incorporation.

     21.  "Dependency" means any task or deliverable required of Recipient or a
third party that is beyond the reasonable control of Service Provider on which
the timely development and delivery of the Launch Software is dependent. Such
Dependencies include timely management decisions by Recipient, Recipient's
hiring a sufficient number of producers on a timely basis, timely rollout of a
sufficient network infrastructure by Recipient, and the availability of and
connectivity to a local third party billing processor.

     22.  "Documentation" shall have the meaning set forth in the AOL License.

     23.  "Effective Date" shall have the meaning set forth in the first
paragraph of this Agreement.

     24.  "Error" means any mistake, problem or defect, other than a Virus, in
AOL Proprietary Object Code that (a) renders such Object Code inoperable, (b)
causes such Object

                                      -18-
<PAGE>

Code to fail to conform to any Documentation thereof in any respect, (c) causes
incorrect results in any respect, or (d) causes incorrect functions to occur in
any respect.

     25.  "Error Correction" means any correction of an Error provided by
Service Provider to Recipient pursuant to Section 2.3(c).

     26.  "Force Majeure Event" means any circumstance beyond the reasonable
control of Service Provider that precludes, hinders, delays or renders
impracticable the performance of any Service Provider obligation under this
Agreement. Such events include wars, civil disturbances, strikes, Acts of God,
floods, fire, and governmental interference.

     27.  "Host Computer Access" means access to those portions of Service
Provider's host computers and related software reasonably necessary to operate
the Recipient Interactive Service in a manner substantially similar to the AOL-
US Services.

     28.  "Interactive Service(s)" shall have the meaning set forth in the
Certificate of Incorporation.

     29.  "Interconnect" or "Interconnection" means the electronic connection
that enables the transmission of Content and other information between and among
AOL Services (including the AOL-US Service and Recipient Interactive Services)
as described in Section 2.5 and further permits Subscribers of the AOL Services
to access such Content and other information.

     30.  "JV Affiliate" shall have the meaning set forth in the AOL License.

     31.  "Launch" shall mean the first commercial availability of an
Interactive Service to potential Subscribers in the Territory or a country in
the Territory, as applicable.

     32.  "Launch Software" shall have the meaning set forth in Section 2.2(a).

     33.  "Licensed Products" shall have the meaning set forth in the AOL
License.

     34.  "MFN Rates" means the lowest rates, if any, charged by AOL, Service
Provider or any Affiliates of AOL to (a) any JV Affiliate or (b) any other
Person, in both cases specifically excluding any AOL Seventy-Five Percent
Affiliates, offering AOL Services or similar Interactive Services for services,
products or materials similar to the applicable services, products or materials
provided by Service Provider to Recipient pursuant to this Agreement.  MFN Rates
existing at the Effective Date include the rates described on Attachment F,
                                                              ------------
which Attachment shall be amended by Service Provider and delivered to Recipient
from time to time in order to accurately reflect and notify Recipient of any
change in MFN Rates or any additional services, products or materials provided
by Service Provider.  Notwithstanding the foregoing, with respect to MFN Rates
for any Interactive Services in addition to PC Access Services, if AOL is not
providing such Interactive Services at the time of determination of such MFN
Rates to (a) any JV Affiliate or (b) any other Person, in both cases
specifically excluding any AOL Seventy-Five Percent Affiliates, then MFN Rates
for such Interactive Services shall mean [___________]

                                      -19-
<PAGE>

     35.  "MRD" shall have the meaning given in Section 2.2(d).

     36.  "New AOL Developments" means those new products or services provided
by Service Provider to Recipient that are required under Service Provider's
standard operations and other Uniform Policies, applied equally to all JV
Affiliates, which Service Provider may modify from time to time in its sole
discretion.

     37.  "Operating Entities" shall have the meaning set forth in the
Certificate of Incorporation.

     38.  "Object Code" shall have the meaning set forth in the AOL License.

     39.  "PC Access Services" shall have the meaning set forth in the
Certificate of Incorporation.

     40.  "Person" shall mean an individual corporation, partnership, limited
liability company, trust, unincorporated organization or other legal entity, or
a governmental body, or their equivalent under applicable law.

     41.  "Recipient Interactive Services" shall have the meaning set forth in
the AOL License with respect to Licensee Interactive Services.

     42.  "Related Agreements" shall mean the Certificate of Incorporation, AOL
License and the Stockholders' Agreement of even date herewith by and among AOL,
ODC and the Company.

     43.  "Requested Developments" shall have the meaning given in Section
2.2(c).

     44.  "Restricted Content" shall have the meaning set forth in the AOL
License.

     45.  "Senior Executive Officers" shall mean the Chief Executive Officer and
Chief Operating Officer of a Person, each Senior Vice President and Executive
Vice President of a Person, and the General Counsel of a Person, and any other
management personnel of a Person with equivalent titles or decision-making
authority. For purposes of this Agreement, Gustavo Cisneros, Ricardo Cisneros
and Steven Bandel shall be deemed to be Senior Executive Officers of ODC.

     46.  "Service Notice" shall have the meaning given in Section 2.

     47.  "Source Code" shall have the meaning set forth in the AOL License.

     48.  "Subscriber" shall mean, as of any date of determination and with
respect to any Interactive Service, any Person who has opened an account with or
otherwise registered as a user of such Interactive Service.

     49.  "Subsidiary" shall have the meaning set forth in the Certificate of
Incorporation.

                                      -20-
<PAGE>

     50.  "Technical Support" means the technical support set forth in Section
2.3 to be provided by Service Provider to Recipient.

     51.  "Term" shall mean the period of time that this Agreement is in effect,
as set forth in Section 5.1.

     52.  "Territory" shall have the meaning set forth in the AOL License.

     53.  "Third Party Products" shall have the meaning set forth in the AOL
License.

     54.  "Training" means the training to be provided by Service Provider to
Recipient for the sole purpose of enabling Recipient to launch, operate,
provide, market and manage or administer Recipient Interactive Services as
contemplated herein.

     55.  "Trainee" means an employee of Recipient, or its respective
Affiliates, who is reasonably proficient in the English language, possesses
strong computer literacy and skills, and is well versed in the technical aspects
of Interactive Services.

     56.  "TV Access Services" shall have the meaning set forth in the
Certificate of Incorporation.

     57.  "Undertaking" shall have the meaning set forth in the Certificate of
Incorporation.

     58.  "Uniform Policies" shall have the meaning set forth in the AOL
License.

     59.  "Virus" means any computer code intentionally designed to disrupt,
disable, harm, or otherwise impede in any manner, including aesthetical
disruptions or distortions, the operation of a computer program, or any other
associated software, firmware, hardware, or computer system (including local
area or wide-area networks), in a manner not intended by its creator(s).

     60.  "Virus Deletion" means any deletion of a Virus performed by Service
Provider pursuant to Section 2.3(c).

     61.  "Wholly-Owned Affiliate" shall mean with respect to any Person any
other Person which is directly or indirectly wholly owned by such Person,
directly or indirectly wholly owns such Person or is directly or indirectly
wholly owned by the same Person as such Person, with such ownership to mean
possession of both 100% of the equity interest and 100% of the voting interest,
except for directors' qualifying shares, if any. Any Person which is directly or
indirectly wholly owned by the Cisneros Family shall be a Wholly-Owned Affiliate
of ODC.

     62.  "Wireless Access Services" shall have the meaning set forth in the
Certificate of Incorporation.

                                      -21-
<PAGE>

                                 ATTACHMENT B

                              PC Access Services
                        Launch Software Specifications

Subject to the terms and conditions of this Agreement, the Launch Software:

     .  Shall support the Windows 32-bit operating system.

     .  Shall allow Subscribers of Recipient Interactive Services substantially
        to communicate (via e-mail, message boards, chat and instant messages).

     .  Shall allow Recipient to produce services and allow information
        providers to create and edit content.

     .  Shall allow information providers to connect to the AOL Host in the U.S.
        via RMG and conventional telecommunications means.

     .  Shall allow reliable communications between the client and host, within
        the constraints and limitations of the telecommunications and
        operational infrastructure.

     .  Shall allow screen names and passwords using 7-bit ASCII characters.

     .  Shall allow Subscribers to see ASCII & Latin 1 content with AOL client
        software and web browser.

     .  Shall provide AOL security features that are available internationally,
        consistent with U.S. operations, as allowed by and subject to U.S. law.

     .  Shall allow customer support centers in the applicable country(s) in the
        Territory to escalate technical information (feedback) to AOL technical
        database.

     .  Shall provide a system area to store Content on the AOL system.

     .  Shall allow name and address information for residents of the applicable
        country(s) in the Territory.

     .  Shall allow bank name/address and account and/or credit card information
        using specific name/address, bank account screens and billing in local
        currency.

     .  Shall allow recording and transmitting of all Subscriber information
        necessary to give to Recipient the capability to provide back office
        functions (Recipient will have the responsibility to develop or contract
        for and manage the back office systems performing these functions).

     .  Shall provide Recipient a mechanism for creating certificates and
        passwords corresponding to specific marketing offers and campaigns.

                                      -22-
<PAGE>

     .    Shall provide all data needed by Recipient concerning account
          cancellations, suspensions and online revocations.

     .    Shall transmit all data to enable Recipient to create daily, weekly
          and monthly reports and statistics about number of registrations,
          cancellations, changes (names, addresses, payment methods), etc.
          (Recipient will have the responsibility to develop these reports.)

     .    Shall receive orders from Subscribers and make them available to
          Recipient (Recipient will have the responsibility to develop or
          contract for and manage systems required to provide order
          fulfillment).

     .    Shall provide Recipient the data that is needed to pay the required
          royalties to its information providers.

     .    Shall allow Subscribers to access Recipient Interactive Services using
          Hayes compatible modems sold in specific launched countries in the
          Territory. (Recipient will have the responsibility for later adding
          modem profiles for any other specific modems).

     .    Shall allow Subscribers of Recipient Interactive Services to create
          their own home pages in the AOL web server using 7-bit characters.

     .    Shall allow Subscribers of Recipient Interactive Services to access
          7-bit and Latin 1 character Content of AOL Services in other
          countries.

     .    Shall allow Subscribers of Recipient Interactive Services to
          communicate using 7-bit and Latin 1 characters with Subscribers of AOL
          Services in other countries.

     .    Shall provide Recipient with functions to control accounts, such as
          account suspensions and revocations.

     .    Shall allow Subscribers of Recipient Interactive Services to search
          functions such as keyword searches or text searches.

Subject to the terms and conditions of this Agreement, post-Launch, the Launch
Software:

     .    Shall support the Windows 16-bit client operating system.

     .    Shall provide merchandising technology available for use in the
          applicable country(s) in the Territory.

                                     -23-
<PAGE>

                                 ATTACHMENT C

                 Error Correction and Virus Deletion Policies

1.   Error Correction Policy.

     1.1  Reporting Errors. Recipient shall report Errors to Service Provider by
          ----------------
electronically posting Errors in Service Provider's Problem Tracking Database
(Vantive) for consideration and resolution. When reporting an Error, Recipient
shall provide Service Provider with at least the following information:

          (a)  [*]

          (b)  [*]

          (c)  [*]

     1.2  Error Severity Levels. Service Provider shall assign all replicable
          ---------------------
Errors a severity level as follows:

          (a)  [*]

          (b)  [*]

          (c)  [*]

Depending on the severity level of an Error, Service Provider shall use
commercially reasonable efforts to correct such Error within its standard, U.S.
and worldwide time periods. As part of Service Provider's amendments from time
to time of the AOL Error Correction Policy, Service Provider shall have the
right to revise program code, program specifications, design, Documentation,
messages, error messages, and operating procedures applicable to all JV
Affiliates.

2.   Virus Deletion Policy.

     2.1  Reporting Viruses. Recipient shall report Viruses to Service Provider
          -----------------
by electronically posting Viruses in Service Provider's Problem Tracking
Database (Vantive) for consideration and resolution. When reporting a Virus,
Recipient shall provide Service Provider with at least the following
information:

          (a)  a description of the Virus;

          (b)  Virus documentation, if available, including all dumps, traces,
error messages, logs, and screen prints required to evaluate the Virus; and

          (c)  a description of the tools or procedures used to detect the
Virus.

     2.2  Deleting Viruses. Service Provider shall use commercially reasonable
          ----------------
efforts to delete any such Virus with the same priority and level of effort that
Service Provider or AOL

                                      -24-
<PAGE>

uses for similar Viruses for AOL-US Services and all other AOL Services. As part
of Service Provider's amendments from time to time of the AOL Virus Deletion
Policy, Service Provider shall have the right to revise program code, program
specifications, design, Documentation, messages, error messages, and operating
procedures applicable to all JV Affiliates.

                                      -25-
<PAGE>

                                 ATTACHMENT D

                        Training and Technical Support

1.   Training.

     1.1  General.
          -------

          (a)  Scope. Service Provider shall provide Training at Service
               -----
Provider's offices in the USA on mutually agreed upon dates. If requested by
Recipient, such Training may be videotaped for use by Recipient in the Territory
to assist with the understanding of the subject matter by those individuals who
attended such Training or to train those individuals who did not attend such
Training. Service Provider shall provide the Training as set forth herein to
Recipient only once; provided, however, that in the event Recipient requests
repetitions of such Training, and the parties mutually agree, Service Provider
shall provide Recipient with such repetitive Training at Recipient's expense as
set forth in Section 1.3 below. The objective of the Training shall be to enable
Recipient's personnel attending such Training to train Recipient's other
personnel as required. All Training provided by Service Provider shall be
conducted in English.

          (b)  Hiring. Recipient shall use commercially reasonable efforts to
               ------
hire on a timely basis all individuals to be Trained by Service Provider so that
Service Provider may provide the Training at the times set forth herein. Service
Provider shall, at the Request of Recipient, provide Recipient with assistance
in such hiring, including without limitation, providing summaries of the
qualifications of trainees, reviewing the qualifications of potential trainees,
and participating in the interviews of same.

          (c)  Fees; Expenses. Recipient shall pay Service Provider for all
               --------------
Training (including any repetition of the Training) on a commercially reasonable
time and materials basis at MFN Rates. Unless MFN Rates are more favorable,
Recipient shall be responsible for the payment or reimbursement of all
reasonable air travel, lodging, local transportation, meals, and other out-of-
pocket expenses incurred by Trainees or Service Provider's trainers in
connection with the Training.

     1.2  PC Access Services Pre-Launch Training. Prior to the Launch of
          --------------------------------------
Recipient's PC Access Services, Service Provider shall provide the Training set
forth in this Section 1.2. To the extent any component of Training,
Documentation, or Technical Support, to be provided prior to such Launch is not
an essential requirement for the successful launch of the Recipient Interactive
Services, and if the parties so agree, the provision of such component may be
deferred until after the Launch as mutually agreed.

          (a)  Phase 1. The first phase of the Training ("Phase 1") shall be
               -------
provided for up to eight (8) Trainees and will last for up to two (2) weeks.
Phase 1 will commence within thirty (30) calendar days after Recipient obtains
the necessary computer workstations in the Territory with confirmed access to
AOL host services, build tools and the online production and test system. Phase
1 shall cover the following topics:

               (i)       [*]
               (ii)      [*]

                                      -26-
<PAGE>

               (iii)     [*]
                         .    [*]
                         .    [*]
                         .    [*]
                         .    [*]
               (iv)      [*]
               (v)       [*]
                         .    [*]
                         .    [*]
                         .    [*]
                         .    [*]
                         .    [*]

          (b)  Phase 2. The second phase of the Training ("Phase 2") shall be
               -------
provided for up to three (3) Trainees who have mastered the skills taught in
Phase 1, will last for up to two (2) weeks, and may be conducted with trainees
from other countries. Phase 2 will commence within ninety (90) calendar days
after the end of Phase 1. Phase 2 shall cover the following topics:

               (i)       [*]
               (ii)      [*]
               (iii)     [*]
               (iv)      [*]
               (v)       [*]

          (c)  Phase 3. The third phase of the Training ("Phase 3") shall be
               -------
provided for up to three (3) Trainees who have mastered the skills taught in
Phases 1 and 2, will last for two (2) weeks, and may be conducted with trainees
from other countries. Phase 3 will commence within ninety (90) calendar days
after the Launch. Phase 3 shall cover the following topics:

               (i)       [*]
               (ii)      [*]
               (iii)     [*]
               (iv)      [*]
               (v)       [*]
               (vi)      [*]

          (d)  Management Information System (MIS) Training. Service Provider
               --------------------------------------------
shall provide up to fifteen (15) members of Recipient's staff who are reasonably
proficient in English with two (2) sessions, each lasting up to three (3) days
with AOL MIS personnel that will cover all relevant aspects of AOL-US Services
MIS know-how. The topics covered in such sessions shall include, but shall not
be limited to:

               (i)       [*]
               (ii)      [*]

                                      -27-
<PAGE>

The first Training session will occur as soon as possible after the Recipient
hires the necessary MIS employees. The second Training session will occur within
sixty (60) calendar days before the Launch.

          (e)  Marketing Training. Service Provider shall provide up to four
               ------------------
(4) members of Recipient's marketing staff who are reasonably proficient in
English with two (2) sessions, each lasting up to three (3) days, with AOL
marketing personnel that will cover all relevant aspects of AOL-US Services
marketing know-how. The first Training session will occur as soon as possible
after the Recipient hires the necessary marketing employees.

          (f)  Business Development Training. Service Provider shall provide up
               -----------------------------
to four (4) members of Recipient's information provider business development
staff who are reasonably proficient in English with two (2) sessions, each
lasting up to three (3) days, with AOL information provider business development
personnel that will cover all relevant aspects of AOL information provider
relationship and business development know-how. The first Training session will
occur as soon as possible after the Recipient hires the necessary business
development employees. The second Training session will occur within six (6)
months before the reasonably estimated Launch.

          (g)  Subscriber Support Training. Service Provider shall provide up to
               ---------------------------
eight (8) members of Recipient's Subscriber support staff, who are reasonably
proficient in English and are the managers or supervisors of principal roles,
with training lasting up to ten (10) days with AOL Subscriber support personnel
(depending on the person's role). Such sessions will cover all relevant aspects
of AOL Subscriber support know-how for that role. This Training session will
occur as soon as possible after the Recipient hires such managers of Recipient's
Subscriber support.

          (h)  Public Relations Training. Service Provider shall provide up to
               -------------------------
three (3) members of Recipient's public relations staff who are reasonably
proficient in English with one (1) session, which will last one (1) day, with
AOL Corporate Communications personnel that will cover all relevant aspects of
AOL public relations know-how. The Training session will occur as soon as
possible after the Recipient hires the necessary public relations employees.

          (i)  Finance, Accounting, and Business Planning Training. Service
               ---------------------------------------------------
Provider shall provide up to three (3) members of Recipient's finance staff who
are reasonably proficient in English with two (2) sessions, each lasting up to
two (2) days, with AOL finance and accounting personnel that will cover all
relevant aspects of AOL finance, accounting and business planning know-how. The
first Training session will occur as soon as possible after the Recipient's
chief financial officer has been hired. The second Training session will occur
when Recipient has enough information with which to make a pricing decision with
respect to the cost to Subscribers of the Recipient Interactive Services and
will be more of a working session.

          (j)  Legal Training. Service Provider shall provide Recipient's
               --------------
primary in-house personnel in charge of legal affairs or primary outside
counsel, as the case may be, who shall be reasonably proficient in English, with
one (1) session lasting up to two (2) weeks with AOL legal personnel that will
cover all relevant AOL legal issues, procedures, and AOL Standard Forms. This
Training session will occur as soon as possible after the Recipient's

                                      -28-
<PAGE>

primary in-house personnel in charge of legal affairs or primary outside
counsel, as the case may be, has been hired. Thereafter, Service Provider shall
provide such in-house Recipient individual on annual basis with an AOL legal
department training session, which will be held at locations to be determined by
Service Provider.

     1.3  PC Access Services Post-Launch Training. After the Launch of
          ---------------------------------------
Recipient's PC Access Services, Service Provider shall provide Training for up
to three (3) Trainees that covers (a) new or changed features and functionality
of the AOL-US Service and (b) the underlying architecture of the AOL-US Service.
Service Provider shall offer such Training according to a schedule it shall
publish at least three (3) weeks prior to such Training. Service Provider shall
have the right, in its reasonable discretion, to provide such post-Launch
Training by E-mail, video conferencing, or other methods should changes in
technology after the Effective Date not warrant in-person Training. With respect
to any repetitions of such Training required by Recipient after the Launch,
Recipient shall provide such Training.

2.   Technical Support.

     2.1  General.
          -------

          (a)  Scope. Service Provider shall provide Recipient with Technical
               -----
Support (as defined below) in English as described in this Section 2.

          (b)  Designated Recipient Contacts. Recipient shall designate four
               -----------------------------
technical contacts ("Designated Contacts") who shall be the only individuals
entitled to consult with Service Provider, as the case may be, to receive
Technical Support. Such Designated Contacts shall have successfully completed at
least Training Phases 1 and 2, and after it has been offered, Training Phase 3.

          (c)  Fees; Expenses. Service Provider shall provide all Technical
               --------------
Support to Recipient on a commercially reasonable time and materials basis at
MFN Rates. Unless MFN Rates are more favorable, Recipient shall be responsible
for the payment or reimbursement of all reasonable air travel, lodging, local
transportation, meals, and other out-of-pocket expenses incurred by Recipient's
and Service Provider's employees in connection with the Technical Support.

     2.2  PC Access Services Pre-Launch Technical Support. Prior to the Launch
          -----------------------------------------------
of Recipient's PC Access Services, Service Provider shall provide Recipient with
(a) technical support in English that equals one (1) qualified full-time
employee and (b) technologies program management in English that equals one (1)
qualified full-time employee (collectively, "Technical Support"). From Service
Provider's offices in the U.S.A., Service Provider shall provide such Technical
Support with AOL's international support team, which shall have at least one
qualified staff member who is reasonably fluent in the language of the relevant
country(ies) in the Territory, via e-mail and telephone during such team's
normal office hours or, in emergencies, during non-business hours, including
Network and Host Operational Support and JV Assistance on a 24 hours per day, 7
days per week basis. In the event the foregoing method of providing remote
Technical Support is not practical, Recipient shall send one or more Designated
Contacts (as defined above) to Service Provider's offices in the U.S.A. or, upon

                                      -29-
<PAGE>

Recipient's request with Service Provider's consent, not to be unreasonably
withheld, Service Provider and AOL personnel shall travel to Recipient to
provide necessary Technical Support.

     2.3  PC Access Services Post-Launch Technical Support. After the Launch of
          ------------------------------------------------
Recipient's PC Access Services, Service Provider shall provide Recipient with
Technical Support in English that equals two (2) qualified full-time employees.
From Service Provider's offices in the USA, Service Provider shall provide such
Technical Support with Service Provider's international support team, which
shall have at least one qualified staff member whose native language is the
language of the relevant country in the Territory, via e-mail and telephone
during such team's normal office hours or, in emergencies, during non-business
hours, including Network and Host Operational Support and JV Assistance on a 24
hours per day, 7 days per week basis. In the event the foregoing method of
providing remote technical support is not practical, Recipient shall send one or
more Designated Contacts (as defined in Section 2.1(b) above) to Service
Provider's offices in the USA or, upon Recipient's request with Service
Provider's consent, not to be unreasonably withheld, Service Provider personnel
shall travel to Recipient to provide necessary Technical Support.

                                      -30-
<PAGE>

                                 ATTACHMENT E

                            AOL Operating Standards

1.   System Definition
     -----------------

     a.   Network Technology
          ------------------
          (i)    Modems:  AOL determines the types of modems deployed.

          (ii)   Routers: AOL determines the specifications of routers to be
used.

          (iii)  Cables: AOL determines the specifications of cable connections.

          (iv)   Interfaces: AOL determines interface combination to be
utilized.

          (v)    Data Concentration: AOL determines which data concentrators to
be used and in what configuration.

          (vi)   Network Management Systems: AOL determines which management
systems are to be used to monitor the system.

     b.   Telecommunications
          ------------------

          (i)    Modem Deployment:  AOL authorizes modem deployment strategies.

          (ii)   Common Carrier

                 (a)  Technology:  AOL approves the technology for each carrier.

     c.   Host System
          -----------

          (i)    Hardware

                 (a)  Configuration:  AOL determines configuration for running
processes.

                 (b)  Acquisition:  AOL is responsible for determining hardware
to be acquired.

                 (c)  Location:  AOL determines where hardware is to be located,
subject to relocation of computers providing Host Computer Access to the
Territory pursuant to Section 2.4 (c) of this Agreement.

          (ii)   Software

                 (a)  AOL Enhancements/Modifications:  AOL determines which
enhancements and modifications are to be made to the software system components.

                                      -31-
<PAGE>

                 (b)  Replication:  AOL determines how many instances of a given
process/server will be running at one time.

                 (c)  Addition:  AOL determines which new software can be added
to or accessed through the system.

                 (d)  Location:  AOL determines which software is to be
installed on which machine.

          (iii)  Information Providers

                 (a)  Configuration:  AOL determines the configuration for IP
connections.

                 (b)  System Specification:  AOL determines the specifications
for IP Systems.

                 (c)  Software Modifications:  AOL authorizes software
modifications from IP providers (RMG).

          (iv)   System Content

                 (a)  Implementation - AOL determines whether content
modifications are being implemented correctly.

                 (b)  Forms Management:  AOL determines whether forms management
is being implemented correctly.

          (v)    Third Party Functionality:  Recipient will present all requests
to AOL. If the technology requires integration into the AOL Service (i.e.,
client or host integration), then such request must be approved by AOL. If the
technology does not require such integration, then Recipient will consult with
AOL, and AOL will have the right to reject any requests, in its reasonable
discretion, if such request will have an adverse impact on the AOL Service.

2.   Client Software
     ---------------

     a.   Code
          ----

          (i)    AOL Functionality Features:  AOL determines features of client
software including necessary user interface components.

          (ii)   Upgrades:  AOL determines what/when upgrades are required.

          (iii)  Error Correction:  AOL determines error correction and fixes.

     b.   Configuration
          -------------

     c.   Code-dependent:  AOL determines client configurations that are
          --------------
required for the software to run correctly.

                                      -32-
<PAGE>

     d.   Operating System:  AOL determines which operating systems are to be
          ----------------
supported.

     e.   Third Party Functionality: Recipient will present all requests to AOL.
          -------------------------
If the technology requires integration into the AOL Service (i.e., client or
host integration), then such request must be approved by AOL.  If the technology
does not require such integration, then Recipient will consult with AOL, and AOL
will have the right to reject any requests, in its reasonable discretion, if
such request will have an adverse impact on the AOL Service.

3.   Procedural Areas
     ----------------

     a.   Operational Maintenance

          (i)    Hardware: AOL determines maintenance policies and procedures
for hardware, systems software, and networks.

          (ii)   Software: AOL determines maintenance policies and procedures
for hardware, systems software, and networks.

          (iii)  Network: AOL determines maintenance policies and procedures for
hardware, systems software, and networks.

     b.   Release/Installation Scheduling
          -------------------------------

          (i)    Hardware: AOL determines release/installation policies and
procedures for hardware, systems software, network, client software, content and
bundling.

          (ii)   QA, System Validation & Verification

     c.   Hardware:  AOL determines policies and procedures for hardware,
          --------
software, and network testing.

     d.   Software:  AOL determines how software is to be tested.
          --------

     e.   Network:  AOL determines how network changes are to be tested.
          -------

     f.   Client:  AOL determines how client changes are to be tested.
          ------

     g.   RMG:  AOL determines how RMGs are to be tested.
          ---

4.   Business Systems
     ----------------

     a.   Billing data collection through output to Recipient:  AOL determines
          ---------------------------------------------------
the manner of billing data collection within the AOL system and formats for
outputs to payment processors.

     b.   Order data collection through output to Recipient:  AOL determines the
          -------------------------------------------------
manner of order data collection within the AOL system and formats for output to
designated recipients.

     c.   Statistical data collection through output to Recipient:  AOL
          -------------------------------------------------------
determines the manner of statistical data collection within the AOL system and
format for output to Recipient.

                                      -33-
<PAGE>

5.   Reporting
     ---------

     a.   System Status:  AOL determines format for reporting system status,
          -------------
statistical reporting, and membership reporting.

6.   Support
     -------

     a.   Operations Control Center
          -------------------------

          (i)    Technology:  AOL determines technology to be used for
Operations Control Centers.

          (ii)   Notification Process:  AOL determines the policies and
procedures for notification, escalation and problem resolution processes.

     b.   Customer Call Center
          --------------------

          (i)  Technology:  AOL determines the technology to be used for the
Customer Call Center.

7.   System Definition
     -----------------

     a.   Telecommunication
          -----------------

          (i)    Network Access Providers

                 (a)  Vendor - Recipient will submit any vendor choice decisions
to AOL for consideration.

     b.   Host System
          -----------

          (i)    Software

                 (a)  Recipient Enhancements: Recipient will submit any
enhancement request decisions to AOL for approval and, if approved, scheduling.

                 (b)  Recipient Bug Fixes: Recipient will submit any bug fix
request decisions to AOL for consideration.

          (ii)   Information Providers

                 (a)  Vendor: Recipient will submit any vendor decisions to AOL
for consideration.

                 (b)  Type of Content (not data): Recipient will submit any
decisions about type of content to be provided by an IP to AOL for
consideration.

          (iii)  System Content

                                      -34-
<PAGE>

                 (a)  Format:  Recipient will submit any decisions about changes
in system content formats to AOL for consideration.

          (iv)   Release/Blocking of Client Software: Recipient will submit any
decisions about releasing and/or blocking of client software to AOL for
consideration.

8.   Client Software
     ---------------

     a.   Code
          ----

          (i)    Recipient New Features: Recipient will submit any new feature
request decisions to AOL for consideration.

          (ii)   Recipient Bug Fixes: Recipient will submit any bug fix request
decisions to AOL for consideration.

     b.   Configuration
          -------------

          (i)    INI files:  Recipient will submit any decisions about changes
to INI files to AOL for consideration.

9.   Management Information Processing
     ---------------------------------

     a.   Billing from data output to member: Recipient will submit any
          ----------------------------------
decisions about billing processing and output formats to AOL for consideration.

     b.   Ordering from data output to member/fulfillment:  Recipient will
          -----------------------------------------------
submit any decisions about order processing and output formats to AOL for
consideration.

     c.   Statistical processing from data output to management:  Recipient will
          -----------------------------------------------------
submit any decisions about statistical report processing and output formats to
AOL for consideration.

     d.   Selection of Billing Vendor:  Recipient will submit any vendor
          ---------------------------
selection decisions for billing processing to AOL for consideration.

10.  Reporting
     ---------

     a.   Dissemination:  Recipient will submit any management report
          -------------
dissemination list decisions to AOL for consideration.

     b.   Re-formatting:  Recipient will submit any decisions on format changes
          -------------
for management reports to AOL for consideration.

11.  Support
     -------

     a.   Operations Control Center
          -------------------------

          (i)  Location:  Recipient will submit any decisions on location of
Operations Control Centers to AOL for consideration.

                                      -35-
<PAGE>

     b.   Customer Call Center
          --------------------

          (i)  Location: Recipient will submit any decisions on location of
Customer Call Centers to AOL for consideration.

12.  End User Agreements

     a.   TOS:  Recipient will submit any decisions in Terms of Service
          ---
agreements to AOL for consideration.

                                      -36-
<PAGE>

                                 ATTACHMENT F

                                   MFN RATES

     This Attachment F identifies the MFN Rates existing on the Effective Date,
which rates shall be amended by Service Provider from time to time to include
additional services and/or materials hereafter provided by Service Provider (or
its Affiliates) applicable to JV Affiliates (including Recipient) in accordance
with the Uniform Policies or to reflect changes to the MFN Rates. These rates
apply both to initial development for Launch and post-Launch maintenance.

     As a reference point, for AOL's FY99 the standard Service Provider rates
(the "Standard Service Provider Rates") are either $7,850/person/month or an
average hourly rate of $75/hour, depending upon the type of work being
performed. The cost per person is a blended rate, equal to the cost to Service
Provider of providing services (without any mark-up), across the total pool of
full time employees performing work for the JV Affiliates. The hourly rate is
the blended rate, equal to the cost to Service Provider of providing such
services (without any mark-up), of all services being provided hourly. Where
there is dedicated management, a 10% management fee is also applied. These
rates and the rates applicable to other JV Affiliates are projected to increase
in the future.

1.   Host, Network and Internet Usage
There are two types of charges that relate to the costs of managing data outside
of the Territory: (i) usage of Service Provider's host computer system ("AOL
Host") and (ii) usage of transatlantic and U.S. data networks and the Internet.

   (i.)    AOL Host costs include the costs of equipment (including leases and
           maintenance), operations staffing (including salaries, benefits and
           related employee expenses), and overhead (including cables,
           contractors, travel expenses, supplies, training and other reasonable
           overhead expenses). These costs are shared among all AOL Services
           around the world. On a monthly basis, Service Provider will calculate
           the cost of the AOL Host and derive an hourly rate for host usage.
           This actual rate will then be applied against actual usage by
           Recipient to determine the monthly costs charged to Recipient. As a
           reference point, the rate applied in September of 1998 was $.09
           /hour. If Service Provider installs a sub-system or other portion of
           the AOL Host ("POD") within the Territory for the sole purpose of
           providing host services to Recipient, all such POD-related expenses
           will be paid by Recipient, including equipment (including lease
           expenses and maintenance), facilities (including rent, utilities, and
           initial build-out depreciation), staffing (including salaries,
           benefits, training, travel, and relocation) and local Internet
           connection costs.

   (ii.)   Transatlantic data communications costs will be charged to Recipient
           as agreed upon by the various network providers and Recipient. The
           costs, if any, of routing Recipient data communications from the
           termination point(s) of the transatlantic data communications
           facilities and the AOL Host will be charged to Recipient. The cost of
           Internet access by applicable Subscribers from the AOL Host will be
           billed to Recipient.

2.   Host and Client Development
There are two categories of development work that will be charged to Recipient:
           (i.)     Internationalization ensures that Licensed Products are
                enabled to function outside the United States, including without
                limitation ensuring that Licensed Products can display non-
                English characters and character sets commonly

                                      -37-
<PAGE>

                used outside the United States. Recipient will be charged an
                allocable portion of full time equivalent employees of Service
                Provider's performing Internationalization related to the
                Recipient service, after the Effective Date, at standard Service
                Provider Rates.
          (ii.)     Requested Developments: Service Provider will provide
                estimates in advance of charging Recipient for Requested
                Developments. Charges for work by Service Provider employees
                will be based on standard Service Provider Rates, while charges
                for external consultants will be based on market rates.

3.   Technology Planning and Management (TP&M)
TP&M activities include working with various Service Provider divisions
(including without limitation International Product Marketing, Development,
Quality Assurance, International Operations, Release Management, and Member
Services) to coordinate, plan, schedule, track and provide status reports on
development work related to Licensed Products and Requested Developments for
Recipient. Recipient will be charged for dedicated TP&M staff resources at
standard Service Provider rates.

4.   Business Systems
Service Provider's Business Systems group develops, manages, enhances and
supports Licensed Products involved with subscriber billing and payment
processing; subscriber usage tracking; marketing, advertising and commerce
tracking and reporting; and other related features and functionality of the
Licensed Products. Charges for Business Systems work by Service Provider
employees will be based on standard Service Provider rates, while charges for
external consultants will be based on market rates.

5.   Member Services Development
There are two categories of Member Services development work that will be
charged to Recipient:

          (i.)      Internationalization of Licensed Products related to Member
                Services ensures that such products are enabled to function
                outside the United States, including without limitation ensuring
                that such products can display non-English characters and
                character sets commonly used outside the United States.
                Recipient will be charged an allocable portion of Service
                Provider's costs after the Effective Date associated with
                Internationalization of Licensed Products related to Member
                Services.

          (ii.)     Requested Developments: Service Provider will provide
                estimates in advance of charging Recipient for Requested
                Developments related to Member Services. Charges for work by
                Service Provider employees will be based on standard Service
                Provider rates, while charges for external consultants will be
                based on market rates.

6.   Business Systems Operations
Service Provider's Business Systems Operations group is responsible for the
operation and support of Licensed Products related to Business Systems and
Member Services, including without limitation customer billing processing, data
integrity, reporting, bulk-mail activities, ad server and customer care systems.
Charges for Business Systems Operations work by Service Provider employees will
be based on standard Service Provider rates, while charges for external
consultants will be based on market rates.

                                      -38-
<PAGE>

7.   Localization
Service Provider's Localization group creates and maintains Licensed Products
translated or otherwise customized for AOL Services outside the United States
("Localization"), including without limitation the Localization of Licensed
Products at the request of Recipient. Charges for Localization work by Service
Provider employees will be based on standard Service Provider hourly rates.

8.   Joint Venture Assistance (JVA)
Service Provider's JVA group provides support to AOL Services outside the United
States for those Licensed Products that are development tools used to develop,
create, update and enhance Content for use in connection with Licensee
Interactive Services.  Recipient will be charged an allocable portion of Service
Provider's costs associated with JVA based on standard Service Provider Rates,
plus a nominal ten (10)-percent management fee.

9.   International Product Marketing (IPM)
Service Provider's IPM group is responsible for working with AOL Services
outside the United States to research, draft and provide status reports on
Marketing Requirements Documents (MRDs). Recipient will be charged an allocable
portion of Service Provider's costs associated with IPM based on standard
Service Provider Rates, plus a nominal ten (10)-percent management fee.

10.  Bundling/Marketing Extensions
Service Provider may negotiate for the extension of bundling and other marketing
and subscriber acquisition agreements to the Territory for the benefit of
Recipient ("Bundling/Marketing Extensions").  Recipient shall pay Service
Provider a royalty for each Subscriber registration that results from such
Bundling/Marketing Extensions ("Bounty").  Notwithstanding anything contained in
this Agreement, the amount of each Bounty under each Bundling/Marketing
Extension shall be  mutually agreed by Service Provider and Recipient, and
subject to approval of the holders of a majority of the Recipient's Series C
Common Stock and Series C Preferred Stock (as such terms are defined in the
Certificate of Incorporation), voting together as a single class.

11.  Commerce Extensions
Service Provider may negotiate for the extension of advertising and electronic
commerce agreements to the Territory for the benefit of Recipient ("Commerce
Extensions"). Recipient shall pay Service Provider a royalty for each Commerce
Extension ("Commission"). The amount of the Commission under each Commerce
Extension shall be no less than fifteen percent (15%). If Recipient negotiates
for the extension of one of its advertising and/or electronic commerce
agreements to an AOL Service outside of the Territory, then Recipient will be
entitled to a commission of no less than fifteen percent (15%).

12.  Knowledge Transfer
Service Provider will be reimbursed by Recipient for all expenses related to the
transfer of Internet online business know-how to Recipient, including without
limitation reasonable expenses related to travel to Recipient-designated sites
for meetings, training, and related activities.  Service provider will not
charge Recipient for such expenses without prior expressed approval of
Recipient.

13.  Other Charges
Service Provider will charge Recipient for all material expenses associated with
a direct request for work by the Recipient. Such charges may include a nominal
ten percent (10%) management fee if there is

                                     -39-
<PAGE>

dedicated management. Service Provider will not charge Recipient for such
expenses without prior expressed approval of Recipient.

Examples of such work include without limitation requests for:

     i)   support such as public relations, legal, tax, accounting/audit, and
          development;

     ii)  specialized marketing or content analysis

     iii) assistance from Service Provider's International Operations or Member
          Services groups miscellaneous equipment

Other costs which must be transferred between global AOL Service business units
include:

     i)   cross-network settlement of network costs

     ii)  the settlement of Globalnet usage

                                      -40-<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

                                                                   EXHIBIT 10.10

[*]=CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETED ASTERISKS HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES
AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS
AMENDED.

                   MASTER AGREEMENT FOR VALUE ADDED SERVICES
                                   (BRAZIL)

AOL BRASIL LTDA., a Brazilian corporation having headquarter offices at Avenida
Industrial 600, 2o. Andar, Santo Andre, 08090-500, Sao Paulo - SP, registered
with Ministerio da Fazenda under number 03.032.579/0001-62, represented by its
President and General Manager, Francisco Loureiro, hereinafter called AOL, and
EMPRESA BRASILEIRA DE TELECOMUNICACOES S.A. - EMBRATEL, a Brazilian corporation
having offices at Av. Presidente Vargas, 1012, CEP 20179-900, Rio de Janeiro -
RJ, registered with Ministerio da Fazenda under the number 33.530.486/0001-29,
represented by its Services Director, Eduardo Levy Cardoso Moreira, and Regional
Director, Luiz Claudio A. Cyriaco, hereinafter called EMBRATEL, both
collectively referred to as Parties, have determined to establish and agree with
terms of the following agreement (this "Agreement"):

     WHEREAS, AOL is an Internet and online service provider which desires to
build a proprietary AOLnet data communications network in Brazil through the
purchase of value added services;

     WHEREAS, AOLnet is defined to be the subset of AOL's member access network
in which AOL has control of (i) the usage, location and quantities of the
applicable equipment; (ii) the purchase, usage, and deployment of all hardware
and software utilized to support the network infrastructure; and (iii) the right
to resell all available capacity to third parties.

     WHEREAS, EMBRATEL is a provider of value added services, including Internet
access network services;

     WHEREAS, EMBRATEL has agreed to build out a portion of AOLnet in Brazil and
provide value added services (including Internet access network services) to AOL
as detailed elsewhere in this Agreement;

     WHEREAS, the parties desire to formalize their relationship;

NOW, THEREFORE, in consideration of the mutual promises set forth herein, the
parties agree as follows:

1.   Scope of Services.  EMBRATEL shall install, activate, maintain, and operate
     -----------------
Modems for AOL's nationwide dial-up network in AOL-designated cities in Brazil,
as set forth in Exhibit C ("Deployment Plan").  The parties further agree to
negotiate in good faith regarding future expansion of AOL-designated cities
within Brazil. The initial total network size shall be [*] Modems. For purposes
of this Agreement, "Modem" shall mean an individual data channel, having the
bandwidth specified in Section 2.1("Network Charges") from a specified location
in Brazil to any of the then-current AOL data centers.  This channel may be
established via an analog or digital ingress (e.g., a channelized E-1 and other
future technologies determined by the Parties to be appropriate under this
Agreement) to a Modem Box.  "Modem Box" shall mean the physical product, which
houses the Modems and the netserver capacity to provide intelligence regarding
the network.

                                      -1-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

     1.1  Commitments.  AOL agrees to order from EMBRATEL a minimum of [*] [*]
          -----------
Dedicated Modems for the buildout of AOLnet in Brazil during the term of this
Agreement; provided, however, that EMBRATEL meets all required performance
criteria as defined in Exhibit A as updated from time to time consistent with
AOL's reasonable criteria applicable to all of its network and value added
services providers. Such performance criteria include, but are not limited to:
(i) meeting the monthly buildout targets specified by AOL, and (ii) meeting the
requisite service levels for such buildout (including without limitation the
performance levels specified in Exhibit A making allowances for factors beyond
EMBRATEL's control when they can be proven).  If in any month EMBRATEL fails to
meet any of its installation commitments, AOL's minimum commitment for all
following months shall be [*] of the percentage by which EMBRATEL has fallen
short of its quality and capacity requirements for such month. The above-
described reduction in commitment shall not limit any of AOL's other rights and
remedies hereunder or at law.   Except for the specific commitments expressed
above, AOL shall not otherwise be committed to purchase modems or services from
EMBRATEL.

     1.2  EMBRATEL Obligations.
          --------------------

          (a)  EMBRATEL shall deploy any capacity requests accepted by EMBRATEL
within ninety (90) days of acceptance. The parties agree that EMBRATEL may not
implement any changes with respect to the manufacturer of the Modems and
Adjacent Routers deployed throughout the network without mutual agreement of the
parties.  EMBRATEL also agrees to [*], at AOL's sole discretion and cost, within
ninety (90) days after AOL's request for such [*].  If EMBRATEL refuses to
accept a capacity request or does not deploy a capacity request within ninety
(90) days after accepting such request, AOL shall be free to request
installation of such capacity from another provider.  Further, any such capacity
request that EMBRATEL refuses or does not timely fulfill shall nevertheless be
counted towards AOL's minimum commitment as specified in Section 1.1
("Commitments"). EMBRATEL also agrees to implement [*] on an expedited basis for
AOL who in its sole discretion, shall determine [*] and related equipment and,
in the event of significant changes to cost directly resulting therefrom, the
parties may revisit Fees.

          (b)  AOL will have the right to direct EMBRATEL to withdraw Returnable
Dedicated Modems (as defined below) within 90 days of deployment, subject to
item 1.2(d).  "Returnable Dedicated Modems" mean [*] of the number of Dedicated
Modems EMBRATEL is deploying in connection with an AOL initial buildout request,
as defined in item 1.

          (c)  For the Returnable Dedicated Modems, EMBRATEL shall not "acquire"
network access server equipment. It is AOL's responsibility to negotiate the
"loan" to EMBRATEL of such equipment (i.e., the right to return such equipment
without charge), including all hardware, software, spare parts, installation and
deinstallation services necessary for the operation of the service for 90 days.

          (d)  Ten (10) days before the end of the 90-day period, AOL shall
provide EMBRATEL with a written communication defining how many of the
Returnable Dedicated Modems will be kept, and how many will be returned. For
each 30 returnable dedicated modems (E1) returned, AOL shall pay EMBRATEL a
service fee for removal thereof in the amount of [*], which EMBRATEL shall
invoice to AOL in accordance with Section 2.4 below.

                                      -2-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

     1.3  Implementation of Network and Value Added Services.  AOL shall have
     ---  --------------------------------------------------
absolute control to define the local dialing geographical area being served and
the establishment of a reasonable schedule for installations. In the event that
AOL directs a change in service location or circuit type or a reallocation of
Modems among locations after tasking has been issued or Modems have been
activated, any additional costs incurred by EMBRATEL, including any service
termination or service activation costs, will be reimbursed by AOL.  AOL shall
retain control of how the users connect to the network and how the network
connects to AOL.  EMBRATEL shall control the design and use of the network
backbone, the value added services, and the backhaul circuits from the virtual
points of presence ("POPs") to the physical POPs.  EMBRATEL shall determine the
location of actual Modem installation, and EMBRATEL shall also identify the
number and location of spare Modems necessary to ensure compliance with the
performance specifications described in Exhibit A.

2.   Fees.
     ----

     2.1  Network Charges.  In exchange for the network services and value added
          ---------------
services to be provided hereunder, AOL will pay Embratel the following for
Modems accepted by AOL in accordance with monthly buildout targets specified by
AOL, without taxes (all prices are quoted in Brazilian reais, base month Sept.
1999):

          (a) [*] (the "Base Price"), provided that such fee per [*] Modem will
not be charged with regards to a Returnable Dedicated Modem at such time that it
is returned or withdrawn in accordance with Section 1.2(b).

          (b) [*] in cities over [*] inhabitants where EMBRATEL has a POP of its
dial-in network and [*] in cities at or under [*] inhabitants where EMBRATEL has
a POP of its dial-in network.

          (c) In the event that AOL orders a [*] Modem(s) where [*] Modem
capacity is available, the price of using the [*] Modem will be the [*] Modem
price until such time the [*] Modem(s) is installed.  The Access Number used
with the [*] Modem will be a number exclusively for AOL traffic and will be the
same as that used upon installation of the [*] Modem.

          (d) The Base Price paid to EMBRATEL shall include all costs relating
to the management and operation of the dial-up network, including but not
limited to:  (a) the network circuit requirement (E-3), a LEC circuit
requirement of E1 per 30 Modems, and a backhaul requirement of 1 E1 per 256
Modems; (b) recurring Local Exchange Carrier (LEC) circuit charges; all the
public domestic network infrastructure necessary to route the traffic from the
Modem Boxes up to the international hub in Brazil; (c) routing through Internet
international circuits; (d) recurring backhaul circuit charges; (e)
amortization of all one-time circuit installation fees; (f) analog telephone
lines; (g) non-capital equipment; (h) site maintenance; (i) recurring co-
location charges; (j) co-location installation fees; (k) other one-time
installation fees; (l) Modem management fees; (m) equipment lease expenses at
EMBRATEL sites; and (n) the cost of any spare equipment.

For purposes of this paragraph, the E-3 requirements are as follows;

                                      -3-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

                Throughput      Modems per E-3 (or equivalent)
                ----------      ------------------------------

                    [*]                      [*]

The parties agree that E-3s shall be defined as network circuits with 34-megabit
capacity with no greater than [*] peak utilization per individual circuit,
measured as an average over recurring five minute windows.

          (e) The Base Price is valid for [*] bps service only. Each additional
[*] bps increment as set forth above that is requested by AOL will result in an
additional [*] per Modem per month to the Base Price. The parties agree that the
network sizing assumes that backhaul and backbone circuits are sized at no
greater than [*] peak utilization per individual circuit, measured as an average
over recurring five minute windows.

          (f) Additionally to the fees described in this section, subject to
Sections 10 and 11, AOL agrees to pay all applicable goods and services taxes
relating to the services provided under this Agreement as identified in the
relevant invoice provided pursuant to Section 2.4.

          (g) AOL shall not be required to pay for the use of any Modem or
Modem Box for any period of time during a billing cycle in which such Modem or
Modem Box is inoperable or otherwise out of service. A discount shall be
deducted from the monthly AOL invoice equal to the percentage during which time
modems were unavailable over the course of a month.

     2.2  Volume Discounts. In exchange for AOL committing to the capacity set
forth in Paragraph 1.1 ("Commitments"), EMBRATEL agrees to immediately provide
the following discounts to AOL during the term of the agreement;

          (a) For Modem orders that result in a total installed Modem base of
between [*] and [*] Modems, a cumulative discount of [*] will be applied to the
combined per Modem cost for the entire Modem base, including the newly ordered
Modems.

          (b) For Modem orders that result in a total installed Modem base of
between [*] and [*] Modems, a cumulative discount of [*] will be applied to the
combined per Modem cost for the entire Modem base, including the newly ordered
Modems.

          (c) For Modem orders that result in a total installed Modem base of
greater than [*] Modems, a cumulative discount of [*] [*] will be applied to the
combined per Modem cost for the entire Modem base, including the newly ordered
Modems

     2.3  Price Adjustments.

Price adjustment may be done, upon EMBRATEL's sole decision, on a yearly basis,
or in the shortest period permitted by Brazilian law, from the Effective Date,
or from the last price adjustment. Embratel shall communicate AOL at least 30
(thirty) days prior to applying price adjustments as set forth herein. Effective
Date shall mean the date of signature of this Agreement.

                                      -4-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

The prices defined on 2.1 shall be adjusted according to the "'Indice Geral de
Precos - Disponibilidade Interna" (IGP-DI), published by Fundacao Getulio
Vargas, or any other index defined by Brazilian law, considering the base month
of the prices in this Agreement.

The adjustment formula to be applied to the prices defined in item 2.1 is:

Pn = Pb x (I/lb), where:

Pn = price after adjustment;

Pb = base price prior to adjustment;

I = IGP-DI index, corresponding to the month before the adjustment month;

Ib = IGP-DI index corresponding to the month before the base month of the prices
in this Agreement or the month before the month of the last adjustment applied
to the prices in this Agreement.

     2.4  Payment Terms.  At such point that AOL accepts Modems in accordance
          -------------
with this Agreement, EMBRATEL will invoice AOL on a monthly basis the charges
specified in this Section 2 for all services provided to AOL under this
Agreement.  Invoices shall identify applicable taxes as agreed upon by the
parties.  All payments due to EMBRATEL under this Agreement shall be invoiced in
arrears to AOL.  All undisputed invoices shall be payable within [*] days of
receipt of the invoice. EMBRATEL acknowledges that it is AOL's billing policy
not to honor any invoices for services performed more than [*] days before the
receipt of the invoice by AOL.

          (a) In the event AOL fails to pay EMBRATEL any undisputed amount in
Reais due in accordance with the payment schedule and terms provided herein,
EMBRATEL shall provide AOL with notice of such non-payment and AOL shall pay
EMBRATEL, as damages for financial distress, a fine of [*], plus interest of [*]
per month, in addition to the amount originally due, calculated from the date
such amount should have been paid until its actual receipt by EMBRATEL. Such
value shall be adjusted in order to compensate EMBRATEL for inflationary losses,
if any, as per Paragraph 2.3 ("Price Adjustments").  EMBRATEL, in its sole
discretion, shall have the option of [*].

     2.5  [*]. EMBRATEL agrees that AOL [*] with respect [*] provided under this
Agreement [*], to the extent that [*].

3.   Acceptance Testing.
     ------------------

     3.1  Acceptance Criteria and Data.  Newly activated Modem Boxes will be
          ----------------------------
subject to an acceptance test by AOL.  Each acceptance test shall last for a
period of six (6) days.  AOL shall have the option of rejecting a Modem Box and
associated circuits which meets or exceeds one or more of the following failure
thresholds:  (a) [*] of user sessions terminate without a user-initiated logoff
sequence; (b) [*] of user calls fail to connect to the Modem Box (such data will
be provided by EMBRATEL for the Modem Boxes on a daily basis.  The six day
acceptance period will be contingent upon receiving this data on a daily basis
beginning with a Modem Box activation); (c) greater than [*] of user calls which
successfully connect to

                                      -5-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

the Modem Box fail to connect to the AOL front end. EMBRATEL shall provide to
AOL all of the performance data necessary to conduct the acceptance tests on a
daily basis during the testing period. If such data is not received by AOL
daily, the applicable Modem Box shall automatically be deemed rejected.

     3.2  Notice of Failure.  In the event that a newly activated Modem Box
          -----------------
meets or exceeds any of the failure thresholds specified in Paragraph 3.1
("Acceptance Criteria_and Data") within the six (6) day test period, AOL may, at
its option, send EMBRATEL an e-mail notice of rejection, specifying the failure
thresholds which were met or exceeded during the test. In determining
acceptance, AOL shall not hold EMBRATEL accountable for problems due to AOL's
client software. Provided that all relevant daily performance data has been
provided to AOL as required by Section 3.1 ("Acceptance Criteria_and Data") any
Modem Boxes that have not been rejected by AOL by the end of the sixth day
following activation will be deemed accepted.

     3.3  Rejected Modem Boxes.  Rejected Modem Boxes shall be removed from
          --------------------
service pending further troubleshooting and corrective action by EMBRATEL.
Following such troubleshooting and corrective action by EMBRATEL, EMBRATEL may
re-activate the Modem Boxes for customer use, and a new six-day acceptance
period shall commence. No fees relating to any rejected Modem Box(es) shall be
charged to AOL during the period in which EMBRATEL is implementing
troubleshooting and corrective action or during the subsequent new six (6) day
testing period.

     3.4  Payment Obligations.  The payment obligation of AOL for any Modem Box
          -------------------
begins at the end of the six (6) day testing period and only upon acceptance of
such Modem Box by AOL.

4.   Technical and Operational Requirements.  EMBRATEL shall provide services
     --------------------------------------
that meet the specifications as set forth in this Section 4 and in Exhibit B
("Operational Requirements"):

     4.1  Netserver and Backbone Capacity.
          -------------------------------

          (a) from the netserver to the backbone, there will be no more than [*]
Modems per T1 line or [*] Modems per E1 line;

          (b) the backbone is sized for aggregate dial and Internet traffic.

          (c) the EMBRATEL Internet backbone facility to AOL shall be sized at
[*] of peak utilization as measured over recurring five minute windows.

     4.2  Access and Connection Protocol.  EMBRATEL shall provide support for
          ------------------------------
the following AOLnet access methods, access technology, connection protocols and
hub architecture:

          (a) the proprietary AOL P3 protocol

          (b) PPP

          (c) TCP/IP

                                      -6-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

          (d) L2TP

          (e) UDP

          (f) Routing to multiple services including but not limited to AOL and
any other AOL-offered service as requested by AOL, provided that the user's
TCP/IP connection terminates at a site, which is subject to subparagraph (h)
below.

          (g) Routing to resale customers that may be part of AOL's overall
network allocation, provided that the user's TCP/IP connection terminates at a
site which is subject to subparagraph (h) below.

          (h) Routing to other AOL-specified sites in addition to, Reston,
Virginia, Manassas, Virginia, and Dulles, Virginia, provided that the cost of
routing to the other AOL-specified sites does not exceed the cost of routing the
equivalent traffic to Reston, Manassas, or Dulles, subject to prior agreement by
EMBRATEL and AOL on how IP routing is implemented.

The following access methods may be supported by EMBRATEL in the future, subject
to agreement between both parties:

          (i) ISDN synchronous & asynchronous (v.120)

          (j) 128K Multi-link ISDN

          (k) xDSL

          (l) 1-way Cable

     4.3  IP Addresses.  EMBRATEL shall acquire and manage IP addresses for all
          ------------
protocols utilized by AOL during the term of this Agreement.  Each individual
[*] shall be provided a [*] such that [*] can be [*] through such [*] IP
addresses and EMBRATEL further agrees that IP addresses be allocated in
contiguous class C/24 blocks when technically necessary. AOL shall be provided
the source IP addresses prior to use two weeks in advance of implementation
within the network. EMBRATEL acknowledges and agrees that it must assign IP
addresses in connection with its implementation of the PPP protocol in a manner
that permits AOL to reliably identify the location and identity of users.
EMBRATEL shall provide additional IP blocks from the allocated EMBRATEL space in
accordance with the rules of Registro.BR.

     4.4  IETF Standards.  EMBRATEL shall, in its network design and topology,
          --------------
comply with IETF approved and adopted standards applicable to the access methods
set forth in Section 4.2.

     4.5  Domain Name Services.  EMBRATEL shall provide domain name service as
          --------------------
follows:

          (a) Answer and route domain name service queries to AOL destinations

                                      -7-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                       Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

          (b) support domain name service for AOL service access to the AOL
domain and any zones resident on AOL name servers

          (c) maintaining domain name service servers

     4.6  Changes in Operating Requirement.  AOL may direct changes to the
          --------------------------------
operating requirements described in this Section 4 to provisioned bandwidth,
AOLnet access methods, access technology, and hub architecture, and EMBRATEL
will respond promptly with any adjusted pricing related to such request.  In the
event that such changes necessitate an extension of the timeframe originally
scheduled for the installation of Modems, the installation schedule shall be
extended the same amount of time required to execute such changes.

5.   Network Performance.
     -------------------

     5.1  Service Performance Levels.  The network shall perform in accordance
          --------------------------
with the service performance levels set forth in Exhibit A ("Service Performance
Levels").  AOL shall notify EMBRATEL in the event that the network fails to meet
or exceed the Service Performance Levels in two consecutive months or on an
average over a three-month period.  EMBRATEL shall have three (3) months
following the receipt of such notice to cure such failure.  If EMBRATEL fails to
cure such failure within such three (3) month period, AOL may, at its sole
option, either (i) terminate this Agreement for default, in accordance with
Paragraph 8.2 ("Termination") or (ii) suspend the minimum network order
commitments of Paragraph 1.1 ("Commitments") until such time as the network
meets or exceeds the Service Performance Levels (based on average measurements
over three (3) calendar months).  For purposes of the foregoing, suspending the
minimum network order commitments shall mean that for each month until the
network has been brought into compliance with the Service Performance Levels,
AOL shall have no obligation to place any orders for network capacity with
EMBRATEL for such month.  Further, AOL shall have no obligation following any
period of suspension to make up for any network capacity orders not made during
such period of suspension

     5.2  EMBRATEL shall ensure that the network be Year 2000 compliant and
shall represent and warrant to such compliance. Year 2000 compliant shall mean:

          (a) Business processes and procedures must contain no logical or
arithmetic inconsistencies and will function without interruption prior to,
during and after Year 2000.

          (b) The Year 2000 must have the ability to recognize and manage
business processes and procedures that occur in association with the leap year.

          (c) All interfaces and processes must be able to handle the data
storage, display and output of date driven information as it relates to the
century, in order to eliminate date ambiguity.

          (d) Successfully and reliably process date relevant functions and data
containing dates from, into and between the twentieth and twenty-first
centuries.

                                      -8-
                              HIGHLY CONFIDENTIAL
<PAGE>

Embratel                                     Contract Number VES-8-IDN-1-1999
-----------------------------------------------------------------------------

     (e)  The above definitions apply, provided that all other products (e.g.,
hardware, software, and firmware) interfacing with AOL and CompuServe properly
exchange date data with it.

     5.3  Architectural Independence

          (a) Alternate Carriers.  In the event that EMBRATEL determines that
              ------------------
another carrier's offerings represent a superior value, or other factors which
may make another carrier's offerings preferable, EMBRATEL may utilize a carrier
other than its current carrier for the network or any portion thereof.  EMBRATEL
acknowledges AOL's goal is to achieve architectural independence among its
service providers to minimize the probability that a single failure could impact
more than one AOL service provider.  EMBRATEL shall solicit AOL's input prior to
the use of a carrier other than its current carrier.

          (b) In the event that significant changes in [*], the parties may
revisit fees.

     5.4  EMBRATEL Representation. EMBRATEL represents and warrants that any and
          ------------------------
all Modem and Modem Box, as defined above have been certified by the relevant
authorities in Brazil and in accordance with the applicable laws and
regulations.

6.   Project Management.  EMBRATEL shall set up an AOL project team, staffed
     ------------------
with an EMBRATEL Regional Director and an AOL customer service representative
(subject to AOL's reasonable approval), who will be responsible for directing
the building, maintaining, and operating of AOLnet and the AOL Internet access.
The EMBRATEL project manager shall be AOL's primary point of contact and [*],
for guidance and advice.  An AOL dedicated project manager shall be set up by
EMBRATEL when deemed necessary by both parties.

7.   Audits.
     ------

     7.1  In the event of an unresolved disagreement between the parties (as
reasonably determined by either party) regarding technical issues, each party
reserves the right to audit the other party's relevant records to verify the
audited party's technical compliance with the terms of this Agreement. No
commercial or financial data shall be audited. This audit by one party of the
records of the other party shall be performed by an independent certified public
accounting firm as follows:  (i) following at least ten (10) business days'
prior written notice to the audited party; (ii) at the auditing party's sole
cost and expense; (iii) in a reasonable scope and duration; (iv) in a manner so
as not to interfere with the audited party's business operations; and (v) in
compliance with the audited party's security requirements.  Unless the parties
mutually agree otherwise, the number of audits that each party may conduct shall
not exceed one per year.  Nothing contained in this paragraph is intended to
allow either party access to or review of confidential information, the
disclosure of which would violate the terms of an agreement with any third
party.  Materials of the audited party reviewed by such independent certified
public accounting firm in the course of the audit shall be deemed confidential
and their use by the independent certified public accounting firm shall be
limited to the conduct of the audit and any resulting report shall not contain
any confidential information of the audited party or any third party.  Such
accounting firm shall, prior to conducting such audit, execute a nondisclosure
agreement acceptable to the audited part containing the substantive provisions
of this paragraph.  Any report or other information produced or reviewed by the
auditor shall not be

                                      -9-
                              HIGHLY CONFIDENTIAL
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Embratel                                     Contract Number VES-8-IDN-1-1999
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distributed within the auditing party except to such persons with a need to
know. The foregoing report and/or information shall be made available to the
audited party on request. Each party shall maintain complete and accurate
records and shall retain such records for a period not less than the term of
this Agreement or such other longer period as may be required by applicable law,
rule, or regulation. The disclosure of any documents, records or any other
information shall be limited to portion of the documents, records or information
that relate to this Agreement.__

     7.2  Within 10 days of AOL's written request, a senior executive officer of
EMBRATEL will certify, through sworn affidavit, that [*].

8.   Term and Termination.
     --------------------

     8.1  Term.  The term of this relationship shall be three (3) years from the
          ----
Effective Date.  The Agreement may be renewed if mutually agreed upon by the
parties in writing for additional one-year periods upon six months notice.  At
the end of the Agreement, the parties will implement a six-month transition
period to allow for the orderly migration of AOL's customers during which the
terms of this Agreement will remain in effect to the extent applicable,
specifically including, without limitation, fees and payments, but excluding,
without limitation, the Commitments on Dedicated Modems. The parties will
resolve all transition issues in a good faith and equitable manner.

     8.2  Termination.  Either party shall have the right to terminate for
          -----------
material breach, provided that any such breach is uncured after forty-five (45)
days written notice. Upon such termination, each party will work reasonably with
the other party and such party's designees to ensure a smooth and timely
transition of the network control and management to AOL within one hundred
eighty (180) days of the effective date of termination. In the event of any
termination, EMBRATEL will transfer ownership of the telephone numbers (and not
the telephone lines) in the network to AOL or its designee, subject to the legal
and regulatory restrictions of this procedure, if any.

9.   Confidentiality.  The parties agree that all disclosures of confidential
     ---------------
and/or proprietary information before and during the term of this Agreement
shall constitute confidential information of the disclosing party.  Such
confidential information shall include, but not be limited to, AOL usage
statistics, calling patterns, ANI data, and all member information.  Each party
shall use commercially reasonable efforts to ensure the confidentiality of such
information supplied by the disclosing party, or which may be acquired by either
party in connection with or as a result of the provision of the services under
this Agreement.  Each party agrees that it shall not disclose, modify, or
otherwise divulge such confidential information. The parties may use or copy or
reproduce confidential information only when it is strictly necessary for the
performance of the services as agreed herein. Each party further agrees to hold
harmless and indemnify the other party in the event of any disclosure by such
party. Each party further agrees to hold harmless and indemnify the other party
in the event of any disclosure by such party

     9.1  The non disclosure obligation shall not be applicable to:

          (a) Information that is in or becomes part of the public domain
without violation of this Agreement by the receiving party;

                                     -10-
                              HIGHLY CONFIDENTIAL
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Embratel                                     Contract Number VES-8-IDN-1-1999
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          (b) Information that was known to be in the possession of the
receiving party on a non-confidential basis prior to the disclosure thereof to
the receiving party by the disclosing party, as evidenced by written records;

          (c) Information that was developed independently by the receiving
party's employees;

          (d) Information that is disclosed to the receiving party by a third
party under no obligation of confidentiality to the disclosing party and without
violation of this Agreement by the receiving party; or

          (e) Information that is authorized by the disclosing party in writing
for disclosure or release by the receiving party.

          (f) In the event recipient is required by law, regulation or court
order to disclose any of owner's confidential information, recipient will
promptly notify owner in writing prior to making any such disclosure in order to
facilitate owner seeking a protective order or other appropriate remedy from the
proper authority. Recipient further agrees that if owner is not successful in
precluding the requesting legal body from requiring the disclosure of the
confidential information, it will furnish only that portion of the confidential
information which is legally required and will exercise all reasonable efforts
to obtain reliable assurances that confidential treatment will be accorded the
confidential information.

10.  Certain Conditions.
     ------------------

     10.1 In the event of changes in the [*] under this Agreement, as applied on
the Effective date, EMBRATEL will work with AOL to modify the allocation of fees
to reflect appropriate splits between domestic and international network
services in order to minimize the overall impact to AOL of [*]. Furthermore,
with regard to any [*], the parties will actively cooperate to [*].

     10.2 EMBRATEL will not be responsible for directly supporting AOL customers
at EMBRATEL call centers; AOL directly supports its customers but will itself be
supported by EMBRATEL in accordance with this Agreement.

     10.3 EMBRATEL's provision of Internet access network services for AOL's
interactive services does not make EMBRATEL responsible for damaging interactive
actions taken by AOL customers such as "spamming" and similar actions, however,
EMBRATEL shall cooperate with AOL on the investigation and interruption of such
acts.

     10.4 At such time EMBRATEL negotiates a benefit or [*] in relation to [*],
EMBRATEL hereby agrees to enter into good faith discussions with AOL to [*].
Further, if, at any time during the term of this Agreement, EMBRATEL [*], then
EMBRATEL agrees to immediately [*]. Within 10 days of AOL's written request, a
senior executive officer of EMBRATEL will certify, through sworn affidavit,
EMBRATEL's compliance with this Section 10.2. EMBRATEL hereby agrees that the
foregoing covenant is a material term of this Agreement.

                                     -11-
                              HIGHLY CONFIDENTIAL
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Embratel                                     Contract Number VES-8-IDN-1-1999
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     10.5 EMBRATEL shall destinate [*] of invoiced amount less taxes due to this
Agreement to [*].

11.  Indemnity.  EMBRATEL agrees to indemnify, defend, and hold AOL harmless
     ---------
from damages, losses, or liabilities (including reasonable attorneys' fees)
arising from (i) any third party claims of intellectual property rights
infringement arising from the use of any EMBRATEL-developed materials; (ii) any
third party claims arising out of a material breach by EMBRATEL of this
Agreement, to the extent that EMBRATEL is responsible; and (iii) any third party
claims relating to any physical damage to property or personal injury caused by
EMBRATEL; (iv) any tax claims resulting from deficiencies in the taxes paid by
EMBRATEL in connection with this Agreement.  AOL covenants that its agreement
with members will state that their use of AOL's services is provided "as-is" and
that, among other things, in no case shall there be liability for any indirect
damages, including lost profits, arising under such agreement, unless such
exclusion is not permitted under applicable law.

     11.1 Indemnification process. If AOL becomes aware of any matter it
believes is indemnifiable hereunder involving any claim, action, suit,
investigation, arbitration or other proceeding against AOL by any third party
(each an "Action"), AOL shall give EMBRATEL prompt written notice of such
Action. Such notice shall (i) provide the basis on which indemnification is
being asserted and (ii) be accompanied by copies of all relevant pleadings,
demands, and other papers related to the Action and in the possession of AOL.
EMBRATEL shall have a period of ten (10) days after delivery of such notice to
respond. If EMBRATEL elects to defend the Action or does not respond within the
requisite ten (10) day period, EMBRATEL shall be obligated to defend the Action,
at its own expense. AOL shall reasonably cooperate, with EMBRATEL and its
counsel in the defense, and AOL shall otherwise have the right to participate
fully, at its own expense, in the defense of such Action. If EMBRATEL responds
within the required ten (10) day period and elects not to defend such Action,
AOL shall, without prejudice to any of AOL's rights hereunder (including Section
11 above), defend (and control the defense of) such Action. In such case,
EMBRATEL shall cooperate, at its own expense, with AOL and its counsel in the
defense against such Action and EMBRATEL shall have the right to participate
fully, at its own expense, in the defense of such Action. Any compromise or
settlement of an Action shall require the prior written consent of EMBRATEL, in
consultation with AOL and reasonable EMBRATELconsideration of AOL's positions,
provided however that the final decision will be taken by EMBRATEL.

12.  Limitation of Liability.  NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY
     -----------------------
STATED OR IMPLIED HEREIN, NEITHER PARTY SHALL HAVE ANY LIABILITY WHATSOEVER FOR
ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES (INCLUDING LOST
PROFITS) SUFFERED BY THE OTHER OR BY ANY ASSIGNEE OR OTHER TRANSFEREE OF THE
OTHER, EVEN IF INFORMED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES, WHICH
INCLUDES, BUT IS NOT LIMITED TO, LOSS OF PROFITS, REVENUES OR BUSINESS
OPPORTUNITIES.

13.  Ownership and Remedies upon Termination or Expiration.

     13.1 EMBRATEL shall retain title and ownership to the dial-up network
equipment, including but not limited to, Modems and related equipment; provided,
however, that as a condition of such ownership, the parties agree that (i) AOL
shall recoup all of the economic

                                     -12-
                               HIGH CONFIDENTIAL
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Embratel                                     Contract Number VES-8-IDN-1-1999
-----------------------------------------------------------------------------

benefit of any endorsement by AOL of a specified technology or vendor for the
Modems and related equipment and (ii) AOL shall own the telephone numbers to
each of the dial-up points of presence, and EMBRATEL shall not transfer such
telephone numbers to any third party without written permission from, subject to
the legal and regulatory restrictions of transferring the telephone numbers to
AOL, if any.

     13.2 Upon termination of this Agreement arising from a material uncured
breach by EMBRATEL, the parties agree that (i) AOL (or its designee) shall be
allowed to manage the operation of the AOL portion of the network utilizing AOL
personnel and staff and EMBRATEL equipment and software at EMBRATEL locations,
and EMBRATEL shall permit such AOL personnel and staff to have free and
unobstructed access to such EMBRATEL locations for the purpose of managing such
operations, all at [*] of cost for [*] days followed by no cost for [*] days;
(ii) the parties shall implement a six month transition period to allow for
AOL's assumption of management and control of the network; and (iii) EMBRATEL
agrees to the ability of AOL to seek injunctive relief and specific performance
regarding the remedies set forth herein.

     13.3 EMBRATEL shall not itself encumber or permit the Modems to be
encumbered (except to the extent beyond its control due to governmental or
judicial action) by any liabilities, liens, claims, charges, security interests
or encumbrances of any kind other than such encumbrances as existed at the time
EMBRATEL obtained the Modems.

     13.4 Notwithstanding anything to the contrary in this Agreement, any
changes in the AOL telephone numbers shall require prior written communication
to AOL.

     13.5 AOL shall also retain title and ownership to all data contained in
written reports prepared and delivered to AOL hereunder.

     13.6 Any software developed by EMBRATEL incidental to the performance of
services for AOL, the cost of which is charged to, and reimbursed by, AOL shall
be jointly owned by EMBRATEL and AOL, and EMBRATEL may not use such software for
the benefit of a third party unless EMBRATEL pays to AOL the cost that was
charged to AOL for the development of such software. Notwithstanding the
foregoing, in no event shall EMBRATEL use such software for the benefit of any
entity reasonably construed to be a top ten competitor of AOL. EMBRATEL further
agrees to execute any and all necessary documentation to perfect AOL's ownership
rights in such software as reasonably requested by AOL.  EMBRATEL further agrees
that it has no ownership rights or usage rights (except as necessary to fulfill
its obligations as set forth in this Agreement) to any AOL proprietary
information or software provided hereunder, including but not limited to any AOL
proprietary information or AOL software which may be incorporated into written
material or software delivered under this Agreement.

14.  General.
     -------

     14.1 Governing Law and Jurisdiction. This Agreement shall be governed and
          ------------------------------
construed under the laws of the Brazilian Federative Republic, and the court of
Rio de Janeiro is hereby elected to settle any disputes arising herefrom, with
the exclusion of any other no matter how privileged it may be.

                                     -13-
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Embratel                                     Contract Number VES-8-IDN-1-1999
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     14.2 Press Release. The terms of this Agreement are confidential, and
          -------------
neither party shall disclose to any third party (other than bankers and lenders,
and legal and other professional advisers with a need to know) the terms and
conditions of this Agreement. Such obligations shall apply except as required by
law or government regulation. In addition, any press release or public
announcement with respect to this Agreement shall be subject to the mutual
approval of the parties, unless such major press releases or public
announcements are required by law.

     14.3 Force Majeure.
          -------------

          (a) During the term of this Agreement, neither party shall be in
default of its obligations to the extent that its performance is delayed or
prevented by Force Majeure, as defined in Brazilian law, including but not
limited to acts of God, natural disasters, bankruptcy of a vendor, strikes and
other labor disturbances, acts of war or civil disturbance, or other equivalent
or comparable events.

          (b) In such event, the non-performing party will be excused from any
further performance obligations so affected for as long as such circumstances
prevail and such party continues to use commercially reasonable efforts to
recommence performance without delay.  [*].

          (c) Any party so delayed in its performance will immediately notify
the party to whom performance is due by telephone (to be confirmed promptly in
writing) and describe in reasonable detail the circumstances causing such delay.

          (d) If any of the circumstances described in this Section prevent,
hinder, or delay performance of a material portion of the Services necessary for
the performance of AOL's critical functions (taken as a whole) for more than [*]
hours, then AOL may (i) terminate this Agreement with respect to the
geographical area(s) affected by such force majeure circumstances, in which case
an equitable adjustment will be made to AOL's Commitments to Modems under
Section 1.1, as applicable to the affected area(s), and/or (ii) terminate this
Agreement in its entirety, if more than [*] of the Modems provided by EMBRATEL
are affected by such force majeure circumstances. Termination shall be effective
as of a date specified by AOL in a notice of termination to EMBRATEL. For the
avoidance of doubt, at all times, AOL may procure such services from an
alternate source.

     14.4 Assignment.  Neither party may assign this Agreement or its rights or
          ----------
obligations under this Agreement to a third party without the prior written
consent of the other party, whose consent shall not be unreasonably withheld,
except that either of the parties may assign this Agreement to a parent,
subsidiary, affiliate, or joint venture partner without the other party's
approval.  AOL shall have the right to terminate this Agreement without penalty
in the event of: (a) the consummation of a merger or sale or other disposition
of substantially all of the assets of EMBRATEL by any individual, entity or
group that directly competes with AOL, or (b) the acquisition by any individual,
entity or group that directly competes with AOL, of beneficial ownership of more
than a controlling interest of EMBRATEL.

     14.5 Notices.  All notices or reports permitted or required under this
          -------
Agreement shall be in writing and shall be delivered by personal delivery,
telegram, or facsimile

                                     -14-
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Embratel                                     Contract Number VES-8-IDN-1-1999
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transmission or by registered mail, return receipt requested. Notices shall be
sent to the signatories of this Agreement at the address set forth at the
beginning of this Agreement or such other address as either party may specify in
writing. Notices shall be effective upon receipt. In the case of AOL, any and
all notices to be provided to AOL under this Agreement must also be provided to
AOL Latin America Management LLC, [Address to be provided], to the attention of
its General Counsel.

     14.6   No Agency.  Nothing contained herein shall be construed as creating
            ---------
any agency, partnership, or other form of joint enterprise between the parties.

     14.7   Full Power.  Each party warrants that it has full power to enter
            ----------
into and perform this Agreement, and the person signing this Agreement on such
party's behalf has been duly authorized and empowered to enter into this
Agreement. Each party further acknowledges that it has read this Agreement,
understands it, and agrees to be bound by it.

     14.8  Survival.  Sections 2.4 ("Payment Terms"), 8.2 ("Termination"), 9
           --------
("Confidentiality"), 10 ("Certain Conditions"), 11 ("Indemnity"), 12
("Limitation of Liability"), 13 ("Ownership") and 14 ("General") of this
Agreement shall survive cancellation, termination or expiration of this
Agreement for two (2) years unless by the nature of the provision survival is
reasonably construed to be for a different period (i.e., longer or shorter).

     14.9   Entire Agreement.  This Agreement constitutes the entire agreement
            ----------------
between the parties with respect to the subject matter hereof.  This Agreement
may only be changed by mutual agreement of authorized representatives of the
parties in writing.

     14.10  Waiver.  No failure on the part of either party to exercise, and no
            ------
delay in exercising any right or remedy hereunder, shall operate as a waiver
thereof, nor shall any single or partial exercise of any right or remedy
hereunder preclude any other or further exercise thereof or the exercise of any
other right or remedy granted hereby or by law.

     14.11  Language and Counterparts. This Agreement is executed in English,
            -------------------------
and AOL shall, within 30 days as of the Effective Date, provide EMBRATEL a
translation of this Agreement into Portuguese to be executed by both parties.
The Parties shall agree upon the final version of the Portuguese translation as
soon as practicable. In case of any discrepancies, the Portuguese version shall
always prevail. This Agreement may be executed in several counterparts and
exchanged via facsimile, each of which shall be deemed an original, but all of
which, when taken together, shall constitute one and the same instrument.

     14.12  Currency.  Unless otherwise expressly stated herein, all amounts
            --------
identified in this Agreement shall be in Brazilian Reais.

                                     -15-
                              HIGHLY CONFIDENTIAL
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Embratel                                     Contract Number VES-8-IDN-1-1999
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as
of the Effective Date.

Sao Paulo, 15 October 18,

AOL BRASIL LTDA.                            EMBRATEL - EMPRESA BRASILEIRA DE
                                            TELECOMUNICACOES S.A.

By: /s/ Francisco Loureiro                  By: /s/ Eduardo Levy Cardoso Moreira
    --------------------------                  --------------------------------

Name: Francisco Loureiro                    Name: Eduardo Levy Cardoso Moreira

Title: President                            Title: Services Director

By: /s/                                     By: /s/ Luiz Claudio A. Cyriaco
    -------------------------------             --------------------------------

Name:                                       Name: Luiz Claudio A. Cyriaco

Title:                                      Title: Regional Director

WITNESSES:

1. /s/ Luciana C. Zanata                           2.  /s/ Cyn Ovalle Jr.
   --------------------------------                    -------------------------
    Nome: Luciana Cristina Zanata                      Nome: Cyn Ovalle Jr.
          -------------------------                          -------------------

    RG: ___________________________                RG: _________________________

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Embratel                                     Contract Number VES-8-IDN-1-1999
-----------------------------------------------------------------------------

                                   EXHIBIT A

                          Service Performance Levels

I.   Reports
     -------

EMBRATEL will provide to AOL the following reports:

1.   Usage Reports

     A.   Daily reports on hourly usage by modem by city

     B.   Daily reports on percentage of ineffective calls

2.   Daily reports on circuit utilization, including but not limited to E1s, DS-
3s, OC-3s. These reports will include (i) 5 minute in and out bit rates; (ii)
packet loss (average, median and 95/th/ percentile for each major router pair);
(iii) round trip delays between major router pairs. Embratel will provide all
reports according to AOL's requirements no longer than 3 months after beginning
of operations.

3.   Read only access by AOL to SNMP variables to be defined by mutual agreement
of the parties, on AOL demarcation routers

II.  Service Level Requirements
     --------------------------

EMBRATEL shall meet or exceed the AOLnet network average in the following areas:

1.   Connection Success (getting connected to the AOL service)

     A.   [*] Percentages (excluding busies)

     B.   [*]

     C.   Training

     D.   Ineffectives  E.  Customer Reported Problems

2.   Connection Quality (staying connected)

     A.   Percentage of [*]

     B.   [*]

     C.   [*]

3.   Problem Resolution

     A.   Modem Availability

     B.   Trouble Tickets Resolution Time

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[Embratel]                                   Contract Number VES-8-IDN-1-1999
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     C.   Service Down Time

4.   Ability to Fill Orders

     A.   Modem Plan

     B.   Backbone Capacity Plan

Sample Service Performance Levels from September 1999
-------------------------------------------------------
(incomplete)
------------

1.   Connection Success (getting connected to the AOL service)

     A.   [*] Percentages (excluding busies) [*]

     B.   [*] 15.58 Average running total of blocked calls per day

     C.   Training            [*] of calls did not train

     D.   Ineffectives        [*]

     E.   TBD

2.   Connection Quality (staying connected)

     A.   Percentage of [*]

     B.   [*]                 [*]

     C.   TBD

3.   Problem Resolution

     A.   Modem Availability: [*].

     B.   Trouble Tickets Resolution Time: TBD

     C.   Service Down Time

          a)   Accepted Call Rates: [*]
               (calls from AOL users shall be delivered from Provider's point of
               interconnect to the AOL Circuits)

          b)   Successful Transmission of Packets: greater than [*].
               (average number of packets successfully transmitted)

          d)   Call Failure Rates: less than [*].
               (percentage of calls failing across the provider's modems)

          e)   Abnormal disconnects: TBD.

                                     -18-
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[Embratel]                                   Contract Number VES-8-IDN-1-1999
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                                   EXHIBIT B
                                   ---------

                           Operational Requirements
                           ------------------------
I.   Network Engineering

          EMBRATEL agrees to provide network engineering to address operational
and long-term planning issues.

II.  Operations

          EMBRATEL will continue to provision, staff, and operate a Network
Operations Center ("NOC") with dedicated support for AOL and a backup NOC at a
separate location at least 300 miles away. The scope of this task will include
the following EMBRATEL support and value added services for the network:

          A.   Operation of the NOC and co-located systems with trained and
               qualified personnel on a continuous 24 hours per day, 7 days per
               week basis.

          B.   Operation of all NOC equipment, monitoring, and fault isolation
               functions.

          C.   Coordinating the dispatch maintenance representatives for
               corrective maintenance activities and recording information in a
               Problem Report ("PR") as follows:

                    1.   In the Sao Paulo and Rio de Janeiro metropolitan area,
                         the EMBRATEL field service will respond within [*] hour
                         for all repairs that cannot be completed through remote
                         means

                    2.   EMBRATEL will provide field service within [*] hours
                         for all repairs that cannot be completed through remote
                         means for all other locations.

                    3.   Initiation of a corrective maintenance request, plus
                         recording the time that the call is received by the
                         EMBRATEL maintenance representative.

                    4.   Upon arrival of the maintenance representative at the
                         site, the NOC confirms the reported problems and
                         records the site arrival time with the representative.

                    5.   Upon notification to the NOC by the on-site maintenance
                         representative of any of the following conditions, AOL
                         representatives are conferred with for advice or
                         assistance: work stoppage, delay, denial of access to
                         the equipment.

                    6.   Upon restoration of service by the maintenance
                         representative, the NOC confirms operation of the
                         equipment and records the time when service was
                         restored and the reason for the outage in concert with
                         the maintenance representative.

                                     -19-
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[Embratel]                                   Contract Number VES-8-IDN-1-1999
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     D.   Initiation of PRs, maintenance of a log of all PRs, coordination of
          PRs with support personnel and tracking of problems until resolution
          using a commercial trouble reporting system.

     E.   Utilizing the SNMP capabilities and EMBRATEL diagnostic software
          resident in the NOC for:

               1.   Daily testing of modems and local access numbers

               2.   Measurements of the usage of each modem several times during
                    each 24 hour period

               3.   Monitoring and recording the backbone and trunk availability
                    and utilization

               4.   Accounting for the disposition of each call placed to AOLnet
                    (i.e. how many calls were placed, how many calls were sent
                    successfully to AOL, how many calls were lost in the network
                    due to routing problems, how many calls were sent to AOL,
                    but AOL did not accept them, etc.)

     F.   Providing on-site analyst support Monday through Friday (excluding
          EMBRATEL holidays) during normal working hours. A dedicated access
          number shall be maintained for AOL's exclusive use, which shall always
          be operational. Analyst support is defined as including the following:

               1.   Supporting short-term and long-term AOLnet problem
                    identification, analysis, and resolution.

               2.   Ensuring that proper steps are taken to resolve the problem

               3.   Identifying and tracking all software, baseline and patches,
                    deployed in the AOLnet and NOC platforms

               4.   Supporting the deployment of new software and hardware to
                    the AOLnet and NOC equipment as coordinated with AOL

               5.   Providing support to network provisioning requirements

               6.   Maintaining a technical library for the NOC

     G.   Performing on-call analyst support to AOLnet on a continuous 24 hour
          per day, 7 days per week basis. On-call analyst personnel respond to
          urgent requests from the NOC in conjunction with the on-site EMBRATEL
          personnel. Procedures for the conduct of network testing are in
          accordance with those developed in conjunction with AOL
          representatives.

     H.   Providing operational support to AOLnet in the area of network testing
          in association with provisioning actions. Such testing shall be
          conducted from the NOC in conjunction with the on-site EMBRATEL
          installation team personnel.

                                     -20-
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[Embratel]                                   Contract Number VES-8-IDN-1-1999
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     I.   Maintaining and providing updates and changes to NOC maps

     J.   Maintaining an authorized outage listing for NOC controller use

     K.   Actively cooperate with AOL in network security matters on a day-to-
          day basis in accordance with commercially reasonable practices and
          making recommendations for improvements

     L.   Using commercial teleconferencing facilities in the resolution of
          network problems, escalation of problems, and planning activities

     M.   Providing electronic mail service support for the NOC via the e-mail

     N.   Providing a facsimile service resident in the NOC equipment

     O.   Delivering the following reports to the AOL representatives
          designated:

               1.   Daily modem and site usage

               2.   Daily call disposition reports

               3.   Weekly summary of the amount of time required to close PRs

               4.   Daily ineffective call report

               5.   Daily backbone utilization statistics

               6.   Daily network latency and congestion statistics

               7.   Trace data as required to debug client and AOLnet problems

               AOL may request additional reports that assist in improving
               AOLnet quality. EMBRATEL will provide these additional reports,
               or the raw data, subject to technical reasonableness.

III. Design and Topology of AOLnet

     EMBRATEL intends to continue to improve the network design to: reduce risk,
improve robustness, and enhance the price/performance of the transmission
system.

     A.   Traffic Assumptions

     B.   Location of Points of Presence

     C.   Network Architecture

     D.   Network Topology

                                     -21-
                              HIGHLY CONFIDENTIAL
<PAGE>

[Embratel]                                   Contract Number VES-8-IDN-1-1999
-----------------------------------------------------------------------------

     AOL shall be allowed to establish a route of last resort on the EMBRATEL
network.  EMBRATEL will manage such traffic and provision their network to
maintain a maximum circuit load as defined in Paragraph 2.1(d).

IV.  Network Support Organization

     EMBRATEL has structured the program so that we can both rapidly build out a
network and deliver quality service, and it can provide to AOL value added
services.

     A.   Program Management: The program management group is responsible for
          the management of the project as a whole. The program management team
          is led by a program executive who has direct and immediate access to
          the senior management of EMBRATEL Communications and a program manager
          who reports to the program executive. The program management team is
          the primary point of contact between EMBRATEL and AOL and coordinates
          the activity of all functional groups within EMBRATEL and is
          responsible for project and financial management of the program.

     B.   Engineering: Network engineering handles the technical aspects of the
          project, resolution of problems escalated by the NOC, planning for
          future network expansion, and improving performance and process.
          Engineering interacts directly with AOL and the NOC.

     C.   Deployment: The deployment team consists of field engineers and
          technicians and others who have experience dealing directly with local
          carriers, preparing sites, and installing equipment. Part of the team
          will be based at EMBRATEL to coordinate activities and provide support
          for installers.

     D.   Operations: A NOC handles the operation and maintenance of the
          network. The NOC is connected to AOL's central facilities, including a
          telephone and fax connection to the AOL operations center. The NOC's
          monitoring capability is set up to detect and correct most network
          problems before they are visible to AOL or its customers.

     E.   The NOC directs the maintenance activity based on input from the
          monitoring systems and AOL. EMBRATEL handles the large majority of
          repair tasks over the telephone with technicians at the POPs by
          storing hardware at the POPs, establishing working agreements with the
          POPs and other service providers and by providing written procedures.
          When it is necessary to send technicians to deal with problems,
          EMBRATEL uses its existing infrastructure of satellite offices and
          field engineers.

     F.   EMBRATEL shall support AOL in the acquisition of IP address blocks as
          requested by AOL. EMBRATEL shall not require return of address blocks
          currently in use by AOL and shall provide additional blocks from the
          allocated EMBRATEL space as requested by AOL during the term of this
          Agreement. The provision at additional address blocks must continue
          for at least the next two years, and EMBRATEL must give AOL a minimum
          of one-year notice should EMBRATEL choose to terminate this service.

                                     -22-
                              HIGHLY CONFIDENTIAL
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[Embratel]                                   Contract Number VES-8-IDN-1-1999
-----------------------------------------------------------------------------

     G.   EMBRATEL agrees not to restrict traffic to and from AOL unless
          requested to do so by AOL or required to do so by court order or
          applicable law.

     H.   EMBRATEL shall manage the backbone and interconnection points with
          other Internet providers and customers to minimize loss and delay of
          AOL traffic. Such management shall include creation of new
          interconnection points as required.

     I.   Each party shall use reasonable efforts to aggregate routing
          information sent to the other and to control the addition and
          withdrawal of routing information.

     J.   EMBRATEL shall announce AOL routing information at EMBRATEL
          interchange points as agreed by AOL.

                                     -23-
                              HIGHLY CONFIDENTAIL
<PAGE>

[Embratel]                                   Contract Number VES-8-IDN-1-1999
-----------------------------------------------------------------------------

                                   EXHIBIT C

                                Deployment Plan

----------------------------------------------------------------------------
AOL Designated City                    Phase 1       Phase 2         Total
----------------------------------------------------------------------------
Sao Paulo - SP                           [*]           [*]            [*]
----------------------------------------------------------------------------
Rio de Janeiro - RJ                      [*]           [*]            [*]
----------------------------------------------------------------------------
Belo Horizonte - MG                      [*]           [*]            [*]
----------------------------------------------------------------------------
Brasilia - DF                            [*]           [*]            [*]
----------------------------------------------------------------------------
Curitiba - PR                            [*]           [*]            [*]
----------------------------------------------------------------------------
Porto Alegre - RS                        [*]           [*]            [*]
----------------------------------------------------------------------------
Campinas - SP                            [*]           [*]            [*]
----------------------------------------------------------------------------
Sao Bernardo do Campo                    [*]           [*]            [*]
----------------------------------------------------------------------------
Santo Andre - SP                         [*]           [*]            [*]
----------------------------------------------------------------------------
Osasco - SP                              [*]           [*]            [*]
----------------------------------------------------------------------------
Sao Jose dos Campos                      [*]           [*]            [*]
----------------------------------------------------------------------------
Ribeirao Preto                           [*]           [*]            [*]
----------------------------------------------------------------------------
Niteroi - RJ                             [*]           [*]            [*]
----------------------------------------------------------------------------
Uberlandia                               [*]           [*]            [*]
----------------------------------------------------------------------------
Sorocaba - SP                            [*]           [*]            [*]
----------------------------------------------------------------------------
Juiz de Fora                             [*]           [*]            [*]
----------------------------------------------------------------------------
Londrina                                 [*]           [*]            [*]
----------------------------------------------------------------------------
Santos - SP                              [*]           [*]            [*]
----------------------------------------------------------------------------
S. Jose Rio Preto                        [*]           [*]            [*]
----------------------------------------------------------------------------
Jundiai - SP                             [*]           [*]            [*]
----------------------------------------------------------------------------
Bauru                                    [*]           [*]            [*]
----------------------------------------------------------------------------
Florianopolis                            [*]           [*]            [*]
----------------------------------------------------------------------------
Presidente Prudente                      [*]           [*]            [*]
----------------------------------------------------------------------------
Barueri                                  [*]           [*]            [*]
----------------------------------------------------------------------------
Araraquara                               [*]           [*]            [*]
----------------------------------------------------------------------------
TOTAL                                    [*]           [*]            [*]
----------------------------------------------------------------------------

The first phase will be accomplished by routing through [*] international
circuits (via submarine optical fiber) up to Cable&Wireless Internet network.
Network utilization in Phase 1 is not EMBRATEL's responsibility as the number of
ports was defined by AOL, based on the international bandwidth allocated by
EMBRATEL to AOL.

According to AOL's requirements, the network access servers equipment will be
acquired from [*].

                                     -24-
                              HIGHLY CONFIDENTIAL
<PAGE>

[Embratel]                                     Contract Number VES-8-IDN-1-1999
-------------------------------------------------------------------------------

Schedules:

Embratel will deploy the dedicated modems in the distribution defined above as
follows:

Phase 1: November 15

Phase 2: December 6
                                     -25-
                              HIGHLY CONFIDENTIAL

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00012-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00012-of-00352.parquet"}]]