Document:

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                                                                   Exhibit 10.13

                                                                  EXECUTION COPY
                                                                  --------------

                              Amended and Restated
                                 Loan Agreement

     THIS AMENDED AND RESTATED LOAN AGREEMENT (this "Agreement"), is entered
into as of February 1, 2000 (the "Closing Date"), by and between ITXC Corp., a
Delaware corporation (the "Borrower"), and PNC Bank, National Association, (the
"Bank").

     This Agreement amends and restates in its entirety the Loan Agreement
between the Borrower and the Bank dated as of August 20, 1998 (the "Original
Loan Agreement") as amended November ___, 1998 ("Amendment No. 1 to the Original
Loan Agreement").

     The Borrower and the Bank, with the intent to be legally bound, agree as
follows:

1.  Loan.  The following loan and credit facilities (collectively referred to as
    ----
    the "Loan"), shall be subject to and governed by this Agreement:

    $10,000,000 Secured Revolving Credit (less advances made under the
    Equipment Line) ("Revolving Credit")

    $10,000,000 Equipment Line of Credit ("Equipment Line")

The aggregate maximum availability of the Loan shall be $10,000,000.  The
proceeds of the Revolving Credit shall be used for general corporate and working
capital purposes except as otherwise set forth herein.  The proceeds of the
Equipment Line shall be used only for the purpose of purchasing personal
computers for employees, servers, ERP software and other equipment and related
software necessary to build IP telephony facilities.

2.  Terms and Conditions.  Subject to the terms and conditions hereof and
    --------------------
relying upon the representations and warranties herein set forth, the Bank
agrees to make the Loan available to the Borrower at any time or from time to
time on or after the date hereof in accordance with the terms of this Agreement.

    The credit facility shall consist of the components set forth in Section 1
    hereof in accordance with the following terms:

    2.1   Expiration Date.
          ---------------

          (a) Revolving Credit. Twelve (12) months from the date of the closing
              ----------------
          of this Agreement ("Closing Date"), or on such subsequent anniversary
          of the Closing Date as the parties hereto may agree (the "Revolving
          Credit Expiration Date").
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          (b) Equipment Line. Thirty-six (36) months from the date of the final
              --------------
          draw under the Equipment Line. Borrower shall make no more than five
          (5) draws under the Equipment Line, which draws must be requested and
          made within the twelve (12) month period immediately following the
          Closing Date (the "Equipment Line Expiration Date").

     2.2  Interest Rates.  Interest shall be calculated on the basis of a 360-
          --------------
          day year for the actual number of days elapsed.  The interest rate
          applicable to the Obligations shall change on each date there is a
          change in the Base Rate (as defined below).

          (a) Revolving Credit and Equipment Line. The Revolving Credit and
          --------------------------------------
          Equipment Line Base Rate shall equal the greater of (i) the Prime Rate
          and (ii) the Federal Funds Rate plus .5% ("Base Rate"). "Prime Rate"
          means the rate announced from time to time by Bank as its "prime
          rate;" it is a base rate upon which other rates charged by the Bank
          are based, and it is not necessarily the best rate offered by the
          Bank. "Federal Funds Rate" means the weighted average of the federal
          funds effective rate available to the Bank.

     2.3  Facility Fee.  The Borrower shall pay to the Bank during the twelve
          ------------
          (12) month period beginning on the Closing Date a facility fee at a
          rate of 0.5% per annum on the daily average amount of the unused
          balance of the Revolving Credit and Equipment Line, payable quarterly
          in arrears.

     2.4  Borrowing Base/Availability.
          ---------------------------

          (a) Revolving Credit.  The Revolving Credit shall be available in
              ----------------
          amounts determined in accordance with the Borrowing Base Rider in the
          form attached hereto as Exhibit A.
                                  ---------

          (b) Equipment Line.  The Equipment Line shall be available at the
              --------------
          Closing Date in such amounts as determined pursuant to the Borrowing
          Base Rider.  Advances under the Equipment Line shall be limited to 90%
          of the face amount of equipment invoice (excluding taxes, shipping and
          installation) submitted with any Advance Request (as provided below in
          2.5).

     2.5  Requests.  Except as otherwise provided herein, the Borrower may from
          --------
          time to time prior to the applicable Expiration Date request the Bank
          to make a Loan under the Revolving Credit or Equipment Line by
          delivering to the Bank, not later than 12:00 Noon, Eastern Standard
          time a request by telephone immediately confirmed in writing by
          letter, facsimile or telex in such form (a "Loan Request"), it being
          understood that the Bank may rely on the authority of any individual
          making such a telephonic request without the necessity of receipt of
          such written confirmation.  Each Loan Request shall be irrevocable and
          shall

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          specify (a) the proposed borrowing date; and (b) the aggregate amount
          of the proposed borrowing hereunder.

     2.6  Promissory Note.  The Obligation of the Borrower to repay the
          ---------------
          aggregate unpaid principal amount of the Revolving Credit and the
          Equipment Line, together with interest thereon, shall be evidenced by
          a promissory note of the Borrower ("Note") payable to the order of the
          Bank in a face amount equal to the maximum amount of the Revolving
          Credit.

     2.7  Lockbox.  If an Event of Default has occurred and remains uncured
          -------
          after ninety (90) days, the Bank, in its discretion, may establish a
          lockbox at the Bank to which account debtors of the Borrower will
          submit all payments in respect of the Borrower's accounts receivable,
          provided, however, that any notices directing the Borrower's customers
          to pay to the lockbox shall, in the absence of any fraud or cessation
          of business by the Borrower be sent in the name of the Borrower, shall
          indicate only that the Borrower has a new post office box and shall
          not indicate that the lockbox is under the Bank's control.

     2.8  Additional EXIM Terms.  In the event that the Borrower elects to
          ---------------------
          pursue financing through the Export-Import Bank of the United States
          ("EXIM Bank"), the additional terms related to such financing shall be
          set forth in an Agreement (the "EXIM Borrower Agreement") in the form
          of agreement customarily used by EXIM Bank in such financings.

     2.9  Letter of Credit Subfacility.
          ----------------------------

          (a) Issuance of Letters of Credit.  The Borrower may request the
              -----------------------------
          issuance of a letter of credit (each a "Letter of Credit") by
          delivering to the Bank a completed application and agreement for
          standby letters of credit in such form as the Bank may specify from
          time to time by no later than 10:00 a.m., Eastern time, at least three
          (3) business days, or such shorter period as may be agreed to by the
          Bank, in advance of the proposed date of issuance.  Subject to the
          terms and conditions hereof, the Bank will issue a Letter of Credit
          provided that each Letter of Credit shall have a maximum maturity date
          of December __, 2000, and providing that in no event shall the
          aggregate amount of all Letters of Credit outstanding exceed, at any
          one time, One Million Dollars ($1,000,000).

          (b) Letter of Credit Fees.  The Borrowers shall pay to the Bank, with
              ---------------------
          respect to any Letter of Credit, a flat fee of 2% on the daily average
          undrawn face amount of such standby Letter of Credit for the period
          from and including the date of issuance of such Letter of Credit,
          payable quarterly in arrears commencing with the last business day of
          each March, June, September and December following issuance of each
          Letter of Credit. The Borrower shall also pay to the Bank then in
          effect customary fees and administrative expenses payable with respect
          to the

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          Letters of Credit as the Bank may generally charge or incur from time
          to time in connection with the issuance, maintenance, modification (if
          any), assignment or transfer (if any), negotiation, and administration
          of Letters of Credit.

          (c) Reimbursement.  In the event of any request for a drawing under a
              -------------
          Letter of Credit by the beneficiary or transferee thereof, the Bank
          will promptly notify the Borrower.  Provided that it shall have
          received such notice, the Borrower shall reimburse (such obligation to
          reimburse the Bank shall sometimes be referred to as a "Reimbursement
          Obligation") the Bank prior to 12:00 noon, Eastern time on each date
          that an amount is paid by the Bank under any Letter of Credit (each
          such date, an "Drawing Date") in an amount equal to the amount so paid
          by the Bank.  Any notice given by the Bank pursuant to this Section
          2.9(c) may be oral if immediately confirmed in writing; provided that
          the lack of such an immediate confirmation shall not affect the
          conclusiveness or binding effect of such notice.

               With respect to any unreimbursed drawing, the Borrower shall be
          deemed to have incurred from the Bank a Letter of Credit Borrowing in
          the amount of such drawing.  Such Letter of Credit Borrowing shall be
          due and payable on demand (together with interest) and shall bear
          interest at the rate per annum applicable to the Revolving Credit.

          (d) Determinations to Honor Drawing Requests.  In determining whether
              ----------------------------------------
          to honor any request for drawing under any Letter of Credit by the
          beneficiary thereof, the Bank shall be responsible only to determine
          that the documents and certificates required to be delivered under
          such Letter of Credit have been delivered and that they comply on
          their face with the requirements of such Letter of Credit.

          (e) Nature of Reimbursement Obligations.  The Obligations of the
              -----------------------------------
          Borrower to reimburse the Bank upon a draw under a Letter of Credit,
          shall be absolute, unconditional and irrevocable, and shall be
          performed strictly in accordance with the terms of this Section 2.9
          under all circumstances, including the following circumstances:

                    (i) any set-off, counterclaim, recoupment, defense or other
               right which the Bank may have against the Borrower or any other
               Person for any reason whatsoever;

                    (ii) any lack of validity or enforceability of any Letter of
               Credit;

                    (iii) the existence of any claim, set-off, defense or other
               right which the Bank may have at any time against a beneficiary
               or any transferee of any Letter of Credit (or any Persons for
               whom any such

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               transferee may be acting), the Bank or any other Person or,
               whether in connection with this Agreement, the transactions
               contemplated herein or any unrelated transaction (including any
               underlying transaction between the Borrower or and the
               beneficiary for which any Letter of Credit was procured);

                    (iv) any draft, demand, certificate or other document
               presented under any Letter of Credit proving to be forged,
               fraudulent, invalid or insufficient in any respect or any
               statement therein being untrue or inaccurate in any respect even
               if the Bank has been notified thereof;

                    (v) payment by the Bank under any Letter of Credit against
               presentation of a demand, draft or certificate or other document
               which does not comply with the terms of such Letter of Credit;

                    (vi) any adverse change in the business, operations,
               properties, assets, condition (financial or otherwise) or
               prospects of the Borrower;

                    (vii) any breach of this Agreement or any other Loan
               Document by any party thereto;

                    (viii) the occurrence or continuance of any bankruptcy or
               insolvency proceeding as described in Section 7.5 with respect to
               any Borrower;

                    (ix) the fact that an Event of Default shall have occurred
               and be continuing; and

                    (x) the fact that the Revolving Credit Expiration Date shall
               have passed or this Agreement shall have been terminated.

          (f) Indemnity.  In addition to amounts payable as provided in Section
              ---------
          9, the Borrower shall protect, indemnify, pay and save harmless the
          Bank from and against any and all claims, demands, liabilities,
          damages, losses, costs, charges and expenses (including reasonable
          fees, expenses and disbursements of counsel and allocated costs of
          internal counsel) which the Bank may incur or be subject to as a
          consequence, direct or indirect, of (i) the issuance of any Letter of
          Credit, other than as a result of (A) the gross negligence or willful
          misconduct of the Bank as determined by a final judgment of a court of
          competent jurisdiction or (B) subject to the following clause (ii),
          the wrongful dishonor by the Bank of a proper demand for payment made
          under any Letter of Credit, or (ii) the failure of the Bank to honor a
          drawing under any such Letter of Credit as a result of any act or
          omission, whether rightful or wrongful, of any present or future de
          jure or de facto government or governmental authority (all such acts
          or omissions herein called "Governmental Acts").

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          (g) Liability for Acts and Omissions.  As between the Borrower and the
              --------------------------------
          Bank, the Borrower assumes all risks of the acts and omissions of, or
          misuse of the Letters of Credit by, the respective beneficiaries of
          such Letters of Credit.  In furtherance and not in limitation of the
          foregoing, the Bank shall not be responsible (except to the extent
          that such acts and omissions are attributable to or result from the
          gross negligence or willful misconduct of the Bank as determined by a
          final judgment of a court of competent jurisdiction) for:  (i) the
          form, validity, sufficiency, accuracy, genuineness or legal effect of
          any document submitted by any party in connection with the application
          for an issuance of any such Letter of Credit, even if it should in
          fact prove to be in any or all respects invalid, insufficient,
          inaccurate, fraudulent or forged (even if the Bank shall have been
          notified thereof); (ii) the validity or sufficiency of any instrument
          transferring or assigning or purporting to transfer or assign any such
          Letter of Credit or the rights or benefits thereunder or proceeds
          thereof, in whole or in part, which may prove to be invalid or
          ineffective for any reason; (iii) the failure of the beneficiary of
          any such Letter of Credit, or any other party to which such Letter of
          Credit may be transferred, to comply fully with any conditions
          required in order to draw upon such Letter of Credit or any other
          claim of the Borrower against any beneficiary of such Letter of
          Credit, or any such transferee, or any dispute between or among the
          Borrower and any beneficiary of any Letter of Credit or any such
          transferee; (iv) errors, omissions, interruptions or delays in
          transmission or delivery of any messages, by mail, telecopy or
          otherwise; (v) errors in interpretation of technical terms; (vi) any
          loss or delay in the transmission or otherwise of any document
          required in order to make a drawing under any such Letter of Credit or
          of the proceeds thereof; (vii) the misapplication by the beneficiary
          of any such Letter of Credit of the proceeds of any drawing under such
          Letter of Credit; or (viii) any consequences arising from causes
          beyond the control of the Bank or any issuing bank, including any
          Governmental Acts, and none of the above shall affect or impair, or
          prevent the vesting of, any of the Bank's rights or powers hereunder.

               In furtherance and extension and not in limitation of the
          specific provisions set forth above, any action taken or omitted by
          the Bank or any issuing Bank under or in connection with the Letters
          of Credit issued by it or any documents and certificates delivered
          thereunder, if taken or omitted in good faith, shall not put the Bank
          under any resulting liability to the Borrower.

3.  Security.  The security for repayment of the Loan shall be as set forth in
    --------
the Security Agreement dated as of August 20, 1998 by and between the Borrower
and the Bank (the "Security Agreement") and documents heretofore,
contemporaneously or hereafter executed and delivered to the Bank (the "Security
Documents"), which shall secure

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repayment of the Loan and the Note and any amendments, extensions, renewals or
increases and all costs and expenses of the Bank incurred in the documentation,
negotiation, modification, enforcement, collection or otherwise in connection
with any of the foregoing, including but not limited to reasonable attorneys'
fees and expenses (hereinafter referred to collectively as the "Obligations").
This Agreement (including the Addendum and any Riders thereto), the Note and the
Security Documents are collectively referred to as the "Loan Documents".

4.  Representations and Warranties.  The Borrower makes the following
    ------------------------------
representations and warranties to the Bank which shall be true and correct as of
the date of this Agreement and the date of the making of a Loan, and which shall
be true and correct except as otherwise set forth on the Addendum attached
hereto and incorporated herein by reference (the "Addendum").

    4.1. Existence, Power and Authority. The Borrower is duly organized, validly
         ------------------------------
         existing and in good standing under the laws of the State of its
         incorporation or organization and has the power and authority to own
         and operate its assets and to conduct its business as now or proposed
         to be carried on, and is duly qualified, licensed and in good standing
         to do business in all jurisdictions where its ownership of property or
         the nature of its business requires such qualification or licensing,
         except where the failure to be so qualified or licensed would not have
         a material adverse effect on the business, operations or financial
         condition of the Borrower. The Borrower is duly authorized to execute
         and deliver the Loan Documents, all necessary action to authorize the
         execution and delivery of the Loan Documents has been properly taken,
         and the Borrower is and will continue to be duly authorized to borrow
         under this Agreement and to perform all of the other terms and
         provisions of the Loan Documents.

    4.2. Financial Statements.
         --------------------
         (a) The Borrower has delivered or caused to be delivered to the Bank
         its consolidated balance sheet and income statement for the three month
         period ended September 30, 1999 (the "Historical Financial
         Statements"). The Historical Financial Statements are true, complete
         and accurate in all material respects and fairly present the
         consolidated financial condition, assets and liabilities, whether
         accrued, absolute, contingent or otherwise and the result of Borrower's
         operations for the period specified therein. The Historical Financial
         Statements have been prepared in accordance with generally accepted
         accounting principles ("GAAP") consistently applied from period to
         period subject in the case of interim statements to normal year-end
         adjustments and to any comments and notes acceptable to the Bank.

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         (b) The Borrower has delivered to the Bank projections of its
         anticipated financial performance for a thirty-six (36) month period
         reflecting, among other things, the Initial Public Offering proceeds
         (the "Financial Projections").

    4.3. No Material Adverse Change. Since the date of the Historical Financial
         --------------------------
         Statements, the Borrower has not suffered any material damage,
         destruction or loss to its assets, and no event or condition has
         occurred or exists, which has resulted or could reasonably be expected
         to result in a material adverse change in its business, assets,
         operations, financial condition or results of operation. Since the
         preparation of the Financial Projections, there has been no material
         adverse change as against such Financial Projections.

    4.4. Binding Obligations.  The Borrower has full power and authority to
         -------------------
         enter into the transactions provided for in this Agreement and has been
         duly authorized to do so by appropriate action of its Board of
         Directors; and the Loan Documents, when executed and delivered by such
         Borrower, will constitute the legal, valid and binding obligations of
         such Borrower enforceable in accordance with their terms.

    4.5. No Defaults or Violations.  There does not exist any Event of Default
         -------------------------
         under this Agreement or any material default or violation by the
         Borrower of or under any of the terms, conditions or obligations of:
         (i) its articles or certificate of incorporation, regulations or bylaws
         and the articles or certificate of incorporation and bylaws of the
         Borrower delivered to the Bank on the Closing Date have not been
         amended, revised, supplemented, restated or changed in any way and are
         still in full force and effect; (ii) any material indenture, mortgage,
         deed of trust, franchise, permit, contract, agreement, or other
         instrument to which it is a party or by which it is bound; or (iii) any
         material law, regulation, ruling, order, injunction, decree, condition
         or other requirement applicable to or imposed upon it by any law, the
         action by any court or any governmental authority or agency; and the
         consummation of this Agreement and the transactions set forth herein
         will not result in any such default or violation.

    4.6. Title to Assets. The Borrower has valid title to its assets reflected
         ---------------
         on the Historical Financial Statements, free and clear of all liens and
         encumbrances, except for (i) current taxes and assessments not yet due
         and payable, (ii) liens and encumbrances, if any, reflected or noted in
         the Historical Financial Statements, (iii) assets disposed of by such
         Borrower in the ordinary course of business since the date of the
         Historical Financial Statements, and (iv) those liens or encumbrances
         specified on the Addendum.

    4.7. Litigation. There are no actions, suits, proceedings or governmental
         ----------
         investigations pending or, to the Borrower's knowledge, threatened
         against the Borrower, which could reasonably be expected to result in a
         material adverse

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          change in its business, assets, operations, financial condition or
          results of operations and there is no basis known to the Borrower for
          any action, suit, proceedings or investigation which could reasonably
          be expected to result in such a material adverse change. All pending
          or threatened litigation against the Borrower of which the Borrower
          has knowledge is listed on the Addendum.

    4.8.  Tax Returns. The Borrower has filed all returns and reports that are
          -----------
          required to be filed in connection with any federal, state or local
          tax, duty or charge levied, assessed or imposed upon it or its
          property or withheld by it, including unemployment, social security
          and similar taxes and all of such taxes, have been either paid or
          adequate reserves or other provisions have been made.

    4.9.  Employee Benefit Plans. Each employee benefit plan as to which the
          ----------------------
          Borrower may have any liability complies in all material respects with
          all applicable provisions of the Employee Retirement Income Security
          Act of 1974 ("ERISA"), including minimum funding requirements, and (i)
          no Prohibited Transaction (as defined under ERISA) has occurred with
          respect to any such plan, (ii) no Reportable Event (as defined under
          Section 4043 of ERISA) has occurred with respect to any such plan
          which would cause the Pension Benefit Guaranty Corporation to
          institute proceedings under Section 4042 of ERISA, (iii) the Borrower
          has not withdrawn from any such plan or initiated steps to do so, and
          (iv) no steps have been taken to terminate any such plan.

    4.10. Environmental Matters. The Borrower is in compliance, in all material
          ---------------------
          respects, with all Environmental Laws, including, without limitation,
          all Environmental Laws in jurisdictions in which the Borrower owns or
          operates, or has owned or operated, a facility or site, stores
          Collateral, arranges or has arranged for disposal or treatment of
          hazardous substances, solid waste or other waste, accepts or has
          accepted for transport any hazardous substances, solid waste or other
          wastes or holds or has held any interest in real property or
          otherwise. Except as otherwise disclosed on the Addendum, no
          litigation or proceeding arising under, relating to or in connection
          with any Environmental Law is pending or, to the best of the
          Borrower's knowledge, threatened against the Borrower, any real
          property which the Borrower holds or has held an interest or any past
          or present operation of the Borrower. No release, threatened release
          or disposal of hazardous waste, solid waste or other wastes is
          occurring, or to the best of the Borrower's knowledge has occurred,
          on, under or to any real property in which the Borrower holds any
          interest or performs any of its operations, in material violation of
          any Environmental Law. As used in this Section, "litigation or
          proceeding" means any demand, claim notice, suit, suit in equity,
          action, administrative action, investigation or inquiry whether
          brought by a governmental authority or other person, and
          "Environmental Laws" means all provisions of laws, statutes,
          ordinances, rules, regulations, permits, licenses, judgments, writs,
          injunctions, decrees, orders, awards and standards promulgated by any
          governmental authority

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           concerning health, safety and protection of, or regulation of the
           discharge of substances into, the environment.

     4.11. Intellectual Property. The Borrower owns or, to the best of
           ---------------------
           Borrower's knowledge, has the right to use all patents, patent
           rights, trademarks, trade names, service marks, copyrights,
           intellectual property, technology, know-how and processes necessary
           for the conduct of its business as currently conducted that are
           material to the condition (financial or otherwise), business or
           operations of the Borrower.

     4.12. Regulatory Matters. No part of the proceeds of the Loan will be use
           ------------------
           for "purchasing" or "carrying" any "margin stock" within the
           respective meanings of each of the quoted terms under Regulation U of
           the Board of Governors of the Federal Reserve System as now and from
           time to time in effect or for any purpose which violates the
           provisions of the Regulations of such Board of Governors.

     4.13. Solvency. As of the date hereof and after giving effect to the
           --------
           transactions contemplated by the Loan Documents, the Borrower will
           have sufficient cash flow to enable it to pay its debts as they
           mature.

     4.14. Disclosure. None of the Loan Documents contains or will contain any
           ----------
           untrue statement of material fact or omits or will omit to state a
           material fact necessary in order to make the statements contained in
           this Agreement or the Loan Documents not misleading. There is no fact
           known to the Borrower which materially adversely affects or, to the
           best knowledge of the Borrower, might materially adversely affect the
           business, assets, operations, financial condition or results of
           operation of the Borrower and which has not otherwise been fully set
           forth in this Agreement or in the Loan Documents.

     4.15. Year 2000. The Borrower has reviewed the areas within its business
           ---------
           and operations which could be adversely affected by, and has
           developed or is developing a program to address on a timely basis the
           risk that certain computer applications used by the Borrower may be
           unable to recognize and perform properly date-sensitive functions
           involving dates prior to and after December 31, 1999 (the "Year 2000
           Problem"). The Year 2000 Problem will not have, and is not reasonably
           expected to have, a material adverse effect on the business, assets,
           operations or financial conditions of the Borrower.

5.  Affirmative Covenants.  The Borrower agrees that from the date of execution
    ---------------------
    of this Agreement until all Obligations have been fully paid and any
    commitments of the Bank to the Borrower have been terminated, the Borrower
    will:

    5.1. Books and Records. Maintain books and records in accordance with GAAP
         -----------------
         and give representatives of the Bank access thereto at all reasonable
         times following notice from the Bank, including permission to examine,
         copy and make abstracts

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         from any of such books and records and such other information as the
         Bank may from time to time reasonably request, and the Borrower will
         make available to the Bank for examination copies of any reports,
         statements or returns which the Borrower may make to or file with any
         governmental department, bureau or agency, federal or state.

    5.2. Interim Financial Statements; Certificate of No Default; Accounts
         -----------------------------------------------------------------
         Receivable. Furnish the Bank within 15 days after the end of each month
         ----------
         a detailed report on its accounts receivable in such reasonable detail
         consistent with the form currently used by the Borrower's management. A
         copy of the most recently prepared form is attached hereto as Exhibit
                                                                       -------
         B. The Borrower shall also provide within 30 days of the end
         -
         of each month its Financial Statements (as defined hereinafter) for
         such period, in reasonable detail, certified by the president, chief
         executive officer or chief financial officer of the Borrower and
         prepared in accordance with GAAP applied from period to period. The
         Borrower shall also deliver, within 30 days of the end of each quarter,
         a certificate signed by such officer which verifies compliance with
         applicable financial covenants for the period then ended and whether
         any Event of Default exists, and, if so, the nature thereof and the
         corrective measures the Borrower proposes to take. "Financial
         Statements" means the Borrower's consolidated and, if required by the
         Bank in its reasonable discretion, consolidating balance sheets, income
         statements and statements of cash flows for the year, month or
         (excepting statements of cash flows) quarter together with year-to-date
         figures and comparative figures for the corresponding periods of the
         prior year. The Borrower shall be deemed to have satisfied the
         reporting requirements of this Section 5.2 with respect to quarterly
         Financial Statements to the extent that each such Financial Statement
         is included among the Form 10Q filings made to the Securities and
         Exchange Commission ("SEC") via the Electronic Data Gathering, Analysis
         and Retrieval System ("EDGAR").

    5.3. Annual Financial Statements. Furnish the Borrower's Financial
         ---------------------------
         Statements to the Bank within 90 days after the end of each fiscal
         year. Those Financial Statements will be prepared in accordance with
         GAAP and audited by an independent certified public accountant selected
         by the Borrower and reasonably satisfactory to the Bank. Audited
         Financial Statements shall contain the unqualified opinion of an
         independent certified public accountant and its examination shall have
         been made in accordance with GAAP consistently applied from period to
         period. The Borrower will also provide filings made with any regulatory
         authority, to the extent requested by the Bank, and such other
         information reasonably requested by the Bank, from time to time. The
         Borrower shall be deemed to have satisfied the reporting requirements
         of this Section 5.3 with respect to annual Financial Statements to the
         extent that each such Financial Statement is included among the Form
         10K filings made to the SEC via EDGAR.

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    5.4.  Payment of Taxes and Other Charges. Pay and discharge in accordance
          ----------------------------------
          with past practice all indebtedness and pay when due all taxes,
          assessments, charges, levies and other liabilities imposed by
          government authorities upon the Borrower, its income, profits,
          property or business, except those which currently are being contested
          in good faith by appropriate proceedings and for which the Borrower
          shall have set aside adequate reserves in accordance with GAAP or made
          other adequate provision with respect thereto acceptable to the Bank.

    5.5.  Maintenance of Existence, Operation and Assets. Do all things
          ----------------------------------------------
          necessary to maintain, renew and keep in full force and effect its
          organizational existence and all rights, permits and franchises
          necessary to enable it to continue its business; continue in operation
          in substantially the same manner as at present; keep its properties in
          good operating condition and repair; and make all necessary and proper
          repairs, renewals, replacements, additions and improvements thereto.

    5.6.  Insurance. Maintain with financially sound and reputable insurers,
          ---------
          insurance with respect to its property and business against such
          casualties and contingencies, of such types and in such amounts as is
          customary for established companies engaged in the same or similar
          business and similarly situated. In the event of a conflict between
          the provisions of this Section and the terms of any Security Documents
          relating to insurance, the provisions in the Security Documents will
          control.

    5.7.  Compliance with Laws. Comply in all material respects with all laws
          --------------------
          applicable to the Borrower and to the operation of its business
          (including any statute, rule or regulation relating to employment
          practices and pension benefits or to environmental, occupational and
          health standards and controls).

    5.8.  Operating Account. Maintain the Borrower's main operating account at
          -----------------
          the Bank or at an affiliate of the Bank.

    5.9.  Financial Covenants. Comply with all of the financial and other
          -------------------
          covenants, if any, set forth on the Addendum, subject to all
          applicable cure periods set forth herein.

    5.10. Additional Reports. Provide prompt written notice to the Bank of the
          ------------------
          occurrence of any of the following of which the Borrower obtains
          knowledge (together with a description of the action which the
          Borrower proposes to take with respect thereto): (i) any Event of
          Default or any Event of Default that the Borrower reasonably
          determines is likely to occur, (ii) any litigation filed by or against
          the Borrower to the extent and if the Borrower reasonably determines
          that such litigation would be required to be reported in the
          Borrower's SEC filings, (iii) any Reportable Event or Prohibited
          Transaction with respect to any Employee Benefit Plan(s) (as defined
          in ERISA), or (iv) any event which might reasonably be

                                       12
<PAGE>

          expected to result in a material adverse change in the business,
          assets, operations, financial condition or results of operation of the
          Borrower.

    5.11. Notice of Certain Transactions. Provide a Transaction Notice (defined
          ------------------------------
          below) to the Bank at least five (5) days prior to the proposed
          consummation, directly or indirectly, of (a) any merger or
          consolidation, or acquisition by purchase, lease or otherwise, all or
          substantially all of the assets or capital stock of any other person,
          firm or corporation (each a "Person"), or (b) the lease sale, transfer
          or other disposition of the Borrower's property or assets (excluding
          the sale of inventory in the ordinary course of business); provided,
                                                                     --------
          however, that the forgoing five (5) day notice requirement
          -------
          shall not apply to any of the events described in the preceding
          clauses (a) and (b) above (each a "Transaction") with respect to
          which:

               (i) the consideration to be paid or received by the Borrower (or
                   any subsidiary through which such Transaction is completed)
                   is, or has a value of, less than Ten Million Dollars
                   ($10,000,000) (in which case no such Transaction Notice shall
                   be required); or

               (ii) the agreement between the parties to such Transaction is not
                   executed more than five (5) days in advance of consummation
                   of the Transaction (in which case the Borrower shall provide
                   a Transaction Notice to the Bank immediately upon execution
                   of such agreement).

          For purposes of this Agreement, a "Transaction Notice" shall mean a
              written notice in which the Borrower (A) describes in reasonable
              detail the proposed Transaction, (B) identifies any information
              which must be amended or updated in order to make the
              representations and warranties of the Borrower true and correct on
              the date on which the Transaction is consummated (except
              representations and warranties which expressly relate solely to an
              earlier date and time, which representations and warranties shall
              be true and correct on and as of the specific dates and times
              referred to therein), (C) demonstrates compliance with all
              covenants under this Agreement immediately prior to the
              consummation of the proposed Transaction with after giving pro
              forma effect to such Transaction, and (D) represents and warrants
              that it has, and will continue to have, after giving effect to the
              Transaction, cash or cash equivalents in an amount sufficient to
              satisfy all the Borrower's Obligations under this Agreement.

          At any time within fifteen (15) days after consummation of any
             Transaction with respect to which the Bank has, or should have,
             received a Transaction Notice pursuant to this Section 5.11, the
             Bank may, in its sole discretion, without regard to whether an
             Event of Default or potential Event of Default has occurred or is
             continuing, terminate all of its commitments under this Agreement
             and declare all Obligations under this Agreement due and payable,
             such termination and

                                       13
<PAGE>

             acceleration to be effective forty five (45) days after receipt by
             the Borrower of written notice from the Bank of such intention to
             terminate.

6.  Negative Covenants.  The Borrower covenants and agrees that from the date of
    ------------------
execution of this Agreement until all Obligations have been fully paid and any
commitments of the Bank to the Borrower have been terminated, the Borrower will
not, except as set forth in the Addendum, without the prior written consent of
the Bank, which will not be unreasonably withheld or delayed:

    6.1. Indebtedness. Incur any indebtedness for borrowed money other than: (i)
         ------------
         the Loan and any subsequent indebtedness to the Bank; (ii) existing
         indebtedness disclosed on the Borrower's Historical Financial
         Statements; (iii) additional indebtedness (including capital leases)
         for any equipment or furniture used in the ordinary course of the
         Borrower's business in an amount not to exceed in the aggregate at any
         time Fifteen Million Dollars ($15,000,000); or (iv) such payables
         incurred in the ordinary course of business.

    6.2. Liens and Encumbrances. Except as provided in Section 4.6, create,
         ----------------------
         assume or permit to exist any mortgage, pledge, encumbrance or other
         security interest or lien upon any assets now owned or hereafter
         acquired or enter into any lease or any arrangement for the acquisition
         of property subject to any conditional sales agreement, other than
         purchase money security interests ("PMSIs") (in respect of which the
         Bank will provide to the vendor of property subject to a PMSI and
         acknowledgment of such vendor's prior security interest) or capital
         leases permitted under Section 6.1.

    6.3. Guarantees. Guarantee, endorse or voluntarily become contingently
         ----------
         liable for the obligations of any person, firm or corporation, except
         in connection with the endorsement and deposit of checks in the
         ordinary course of business for collection and letters of credit issued
         for the account of the Borrower in the ordinary course of business and
         except for wholly-owned subsidiaries of the Borrower.

    6.4. Loans or Investments. Purchase or hold beneficially any stock, other
         --------------------
         securities or evidences of indebtedness of any loans (except trade
         credit on usual and customary business terms incurred in the ordinary
         course of business and loans to employees of up to $100,000 in the
         aggregate at any one time outstanding) or advances to, or make any
         investment or acquire any interest whatsoever in, any other person,
         firm or corporation, except for (i) ownership of the stock of wholly
         owned subsidiaries, (ii) stock or other securities purchased or held by
         the Borrower in exchange for other equity interests or (iii) transfers
         to subsidiaries or affiliates consistent with the Borrower's past
         business practice or investments disclosed on the Historical Financial
         Statements or acceptable to the Bank.

                                       14
<PAGE>

    6.5. Line of Business. Acquire, directly or indirectly, any business, or
         ----------------
         ownership interest in any Person whose business, is not similar,
         complementary or related to the line or lines of business of the
         Borrower as of the date of this Agreement.

    6.6. Dividends. Declare or pay any dividends on or make any distribution
         ---------
         with respect to any class of its equity or ownership interest, or
         purchase, redeem, retire or otherwise acquire any of its equity other
         than the repurchase of shares from employees acquired through stock
         option plans and repurchase of shares pursuant to the exercise of
         contractual rights of first refusal to repurchase its shares.

7.  Events of Default.  The occurrence of any of the following will be deemed to
    -----------------
be an "Event of Default":

    7.1. Payment Default. The Borrower shall fail to pay any payment of
         ---------------
         principal when due or any payment of interest within ten (10) business
         days following the date when due, in respect of the Obligations.

    7.2. Material Adverse Change. There shall be a material adverse change in
         -----------------------
         the business, operations, assets, financial condition or results of
         operations of the Borrower.

    7.3. Covenant Default. The Borrower shall default in the performance of, or
         ----------------
         violate any of, the covenants or agreements contained in this
         Agreement, which default shall not have been cured within thirty (30)
         business days after the occurrence thereof.

    7.4. Breach of Warranty. Any Financial Statement, representation, warranty
         ------------------
         or certificate made or furnished by the Borrower to the Bank in
         connection with this Agreement shall be false, incorrect or incomplete
         when made.

    7.5. Bankruptcy or Insolvency. A proceeding shall have been instituted in a
         ------------------------
         court having jurisdiction over the Borrower seeking a decree or order
         for relief in respect of the Borrower in an involuntary case under any
         applicable bankruptcy, insolvency reorganization or other similar law
         and such involuntary case shall remain undismissed or unstayed and in
         effect for a period of sixty (60) consecutive days, or the Borrower
         shall commence a voluntary case under any such law or consent to the
         appointment of a receiver, liquidator, assignee, custodian, trustee,
         sequestrator, conservator (or other similar official).

    7.6. Other Default. The occurrence of an Event of Default as defined in the
         -------------
         Note or any of the Security Documents, or a violation of any of the
         requirements set forth in the Borrowing Base Rider.

Upon the occurrence of an Event of Default, and at any time thereafter, the Bank
may declare all Obligations hereunder immediately due and payable will have all
rights and remedies (which are

                                       15
<PAGE>

cumulative and not exclusive) specified in the Note and the Security Documents
and available under applicable law or in equity upon the delivery of prior
written notice to the Borrower.

8.  Conditions.  The Bank's obligation to make any advance under the Loan shall
    ----------
    be subject to the following conditions being satisfied as of the date of the
    advance:

    8.1. No Event of Default. No Event of Default or material event which with
         -------------------
         the passage of time, provision of notice or both would constitute an
         Event of Default shall have occurred and be continuing.

    8.2. Authorization Documents. The Borrower shall have furnished to the Bank
         -----------------------

        certified copies of resolutions of the board of directors authorizing
        the execution of this Agreement, the Note, and the Security Documents;
        or other proof of authorization satisfactory to the Bank.

    8.3. Delivery of Loan Documents. The Borrower shall have delivered to the
         --------------------------
         Bank the Loan Documents and such other instruments and documents which
         the Bank may reasonably request in connection with the transactions
         provided for in this Agreement, including without limitation, a
         subsidiary guaranty and security agreement executed by ITXC Data
         Transport LLC..

    8.4. Opinion of Counsel. Counsel for the Borrower shall have delivered a
         ------------------
         written opinion, dated the Closing Date and in form and substance
         satisfactory to the Bank and its counsel, as to matters incident to the
         transactions contemplated herein as the Bank may reasonably request.

    8.5. Representations and Warranties. The representations and warranties of
         ------------------------------
         the Borrower to the Bank shall be true and correct in all material
         respects.

    8.6. Opening Balance Sheet. The Borrower shall furnish to the Bank its
         ---------------------
         balance sheet dated September 30, 1999.

9. Expenses. The Borrower agrees to pay the Bank, upon the closing of this
   --------
   Agreement, and otherwise on demand, all reasonable and necessary costs and
   expenses incurred by the Bank in connection with the (i) preparation,
   negotiation and delivery of this Agreement and the other Loan Documents, and
   any modifications thereto, and (ii) collection of the loan or instituting,
   maintaining, preserving, enforcing and foreclosing the security interest in
   any of the collateral securing the Loan, whether through judicial proceedings
   or otherwise, or in defending or prosecuting any actions or proceedings
   arising out of or relating to this Agreement, including reasonable fees and
   expenses of counsel, expenses for auditors, appraisers and environmental
   consultants, lien searches, recording and filing fees and taxes. In addition,
   the Borrower agrees to pay to the Bank (for the account of the EXIM Bank) all
   fees imposed by the EXIM Bank with respect to its export support programs.

                                       16
<PAGE>

10. Increased Costs.  Within twenty (20) days following written demand,
    ---------------
    together with the written evidence of the justification therefor, the
    Borrower agrees to pay the Bank all direct costs incurred and any losses
    suffered or payments made by the Bank as a consequence of making the Loan by
    reason of any change in law or regulation or its interpretation imposing any
    reserve, deposit, allocation of capital or similar requirement (including
    without limitation, Regulation D of the Board of Governors of the Federal
    Reserve System) on the Bank, its holding company or any of their respective
    assets; provided, however, that the Bank shall make no such written demand
            --------  -------
    on the Borrower unless similar demands have been made against all other
    similarly situated customers of the Bank.

11.  Miscellaneous.
     --------------

    11.1. Notices. All notices, demands, requests, consents, approvals and other
          -------
          communications required or permitted hereunder must be in writing and
          will be effective upon receipt if delivered personally to such party,
          or if sent by facsimile transmission with confirmation of delivery, or
          by nationally recognized overnight courier service, to the address set
          forth below or to such other address as any party may give to the
          other in writing for such purpose:

To the Bank:                                To the Borrower:

PNC Bank, National Association              ITXC Corp.
1000 Westlakes Drives                       600 College Road East
Suite 200                                   Princeton, New Jersey  08540
Berwyn, PA  19312                           Attention:  Ed Jordan
Attention:  John T. Freyhof                 Facsimile No.:  (609) 419-1511
Facsimile No.:  (610) 725-5799

                                            With a copy to:
                                            Lowenstein Sandler PC
                                            65 Livingston Avenue
                                            Roseland, New Jersey 07068
                                            Attention:  Peter H. Ehrenberg, Esq.
                                            Facsimile No.: (973) 597-2351

    11.2. Preservation of Rights. No delay or omission on the part of the Bank
          ----------------------
          to exercise any right or power arising hereunder will impair any such
          right or power or be considered a waiver of any such right or power or
          any acquiescence therein, nor will the action or inaction of the Bank
          impair any right or power arising hereunder. The rights and remedies
          hereunder of the Bank are cumulative and not exclusive of any other
          rights or remedies which the Bank may have under other agreements, at
          law or in equity.

                                       17
<PAGE>

    11.3. Illegality. In case any one or more of the provisions contained in
          ----------
          this Agreement should be invalid, illegal or unenforceable in any
          respect, the validity, legality and enforceability of the remaining
          provisions contained herein shall not in any way be affected or
          impaired thereby.

    11.4. Changes in Writing. No modification, amendment or waiver of any
          ------------------
          provision of this Agreement will in any event be effective unless the
          same is in writing and signed by the Bank and then such waiver or
          consent shall be effective only in the specific instance and for the
          purpose for which given. No notice to or demand on the Borrower in any
          case will entitle the Borrower to any other or further notice or
          demand in the same, similar or other circumstance.

    11.5. Entire Agreement. This Agreement (including the documents and
          ----------------
          instruments referred to herein) constitutes the entire agreement and
          supersedes all other prior agreements and understandings, both written
          and oral, between the parties with respect to the subject matter
          hereof.

    11.6. Counterparts. This Agreement may be signed in any number of
          ------------
          counterpart copies and by the parties hereto on separate counterparts,
          but all such copies shall constitute one and the same instrument.

   11.7.  Successors and Assigns.  This Agreement will be binding upon and inure
          ----------------------

          to the benefit of the Borrower and the Bank and their respective,
          successors and assigns; provided, however, that the Borrower may not
                                  --------  -------
          assign this Agreement in whole or in part without the prior written
          consent of the Bank and the Bank at any time may assign this Agreement
          to a recognized institutional lender who agrees in writing to be bound
          to all confidentiality obligations of the Bank in connection with any
          Loan Documents, in whole or in part, upon prior written notice to the
          Borrower.

    11.8. Interpretation. In this Agreement, unless the Bank and the Borrower
          --------------
          otherwise agree in writing, the singular includes the plural and the
          plural the singular; words importing any gender include the other
          genders; references to statutes are to be construed as including all
          statutory provisions consolidating, amending or replacing the statute
          referred to; the word "or" shall be deemed to include "and/or", the
          words "including", "includes" and "include" shall be deemed to be
          followed by the words "without limitation"; references to articles,
          sections (or subdivisions of sections) or exhibits are to those of
          this Agreement unless otherwise indicated; and references to
          agreements and other contractual instruments shall be deemed to
          include all subsequent amendments and other modifications to such
          instruments, but only to the extent such amendments and other
          modifications are not prohibited by the terms of this Agreement.
          Section headings in this Agreement are included for convenience of
          reference only and shall not constitute a part of this Agreement for
          any other purpose. Unless

                                       18
<PAGE>

           otherwise specified in this Agreement, all accounting terms shall be
          interpreted and all accounting determinations shall be made in
          accordance with GAAP. If this Agreement is executed by more than one
          party as Borrower, the obligations of such persons or entities will be
          joint and several.

    11.9.  Assignments and Participation. Notwithstanding any other provisions
           -----------------------------
           of this Agreement, the Bank may, at any time in its sole discretion,
           without any notice to the Borrower, sell, assign, transfer,
           negotiate, grant participation in, or otherwise dispose of all or any
           part of the Bank's interest in the Loan to a recognized institutional
           lender organized under the laws of the United States of America who
           agrees in writing to be bound to all confidentiality obligations of
           the Bank in connection with any Loan Documents. The Borrower hereby
           authorizes the Bank to provide, without any notice to the Borrower,
           any information concerning the Borrower to recognize institutional
           lenders, including information pertaining to the Borrower's financial
           condition, business operations or general creditworthiness, to any
           person or entity which may succeed to or participate in all or any
           part of the Bank's interest in the Loan, provided that such person or
           entity agrees to maintain the confidentiality of such information and
           be bound by all the Bank's confidentiality obligations to the
           Borrower.

    11.10. Governing Law and Jurisdiction. This Agreement has been delivered to
           ------------------------------
           and accepted by the Bank and will be deemed to be made in the
           Commonwealth of Pennsylvania. THIS AGREEMENT WILL BE INTERPRETED AND
           THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN
           ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA,
           EXCLUDING ITS CONFLICT OF LAWS RULES. The Borrower hereby irrevocably
           consents to the exclusive jurisdiction of any state or federal court
           seated in Allegheny County, Pennsylvania, and consents that all
           service of process be sent by nationally recognized overnight courier
           service directed to the Borrower at the Borrower's address set forth
           herein and service so made will be deemed to be completed on the
           business day after deposit with such courier; provided that nothing
           contained in this Agreement will prevent the Bank from bringing any
           action, enforcing any award or judgment or exercising any rights
           against the Borrower, against any security or against any property of
           the Borrower within any other county, state or other foreign or
           domestic jurisdiction. The Bank and the Borrower agree that the venue
           provided above is the most convenient forum for both the Bank and the
           Borrower. The Borrower waives any objection to venue and any
           objection based on a more convenient forum in any action instituted
           under this Agreement.

    11.11. WAIVER OF JURY TRIAL. THE BORROWER AND THE BANK IRREVOCABLY WAIVES
           --------------------
           ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION,
           PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS AGREEMENT, ANY
           DOCUMENTS

                                       19
<PAGE>

           EXECUTED IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION
           CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE BORROWER AND THE BANK
           ACKNOWLEDGE THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.

The Borrower acknowledges that it has read and understood all the provisions of
this Agreement, including the waiver of jury trial, and has been advised by
counsel as necessary or appropriate.

                                       20
<PAGE>

                    WITNESS the due execution of this Loan Agreement as a
document under seal, as of the date first written above.

ATTEST:                                           ITXC CORP.

By:                                    By:    /s/ Edward B. Jordan
   -----------------------------           -----------------------------------

Print Name:                            Print Name:  Edward B.Jordan
            --------------------                   ---------------------------

Title:                                 Title: Executive Vice President and CFO
       -------------------------              --------------------------------

                                       PNC BANK,
                                       NATIONAL ASSOCIATION

                                       By: /s/ John Freyhoff
                                          ------------------------------------

                                       Print Name: John Freyhoff
                                                   ---------------------------

                                       Title: Vice President
                                              --------------------------------

                                       21
<PAGE>

ADDENDUM to that certain Loan Agreement dated February 1, 2000 between ITXC
Corp., as the Borrower, and PNC Bank, National Association.

                             I. FINANCIAL COVENANTS
                                -------------------

1.   The Borrower will not permit its Tangible Net Worth to be less than
     $50,000,000; provided, that if at any time after the date of this Agreement
                  --------
     the Borrower raises additional equity in excess of $75,000,000, then the
     foregoing minimum Tangible Net Worth level shall be increased to
     $80,000,000.

2.   The Borrower shall have a minimum Quick Ratio of Current Assets to Current
     Liabilities by the end of each fiscal quarter as specified below:

          Quarter Ending                                   Quick Ratio
          --------------                               -----------------
          March 31, 2000                                         2.0:1.0
          June 30, 2000                                          2.0:1.0
          September 30, 2000                                     1.5:1.0
          December 31, 2000                                      1.2:1.0
          March 31, 2001                                         1.0:1.0
          June 30, 2001                                          1.0:1.0
          September 30, 2001                                     1.0:1.0
          December 31, 2001                                      1.0:1.0
          March 31, 2002                                        0.75:1.0

                                       22
<PAGE>

          Quarter Ending                                   Quick Ratio
          --------------                               -----------------
          June 30, 2002                                         0.75:1.0
          September 30, 2002                                     0.6:1.0
          December 31, 2002                                      0.6:1.0
          March 31, 2003                                         0.6:1.0
          June 30, 2003                                          0.6:1.0
          September 30, 2003                                     0.6:1.0
          December 31, 2003                                      0.6:1.0

3.   The Borrower shall not experience two consecutive quarters of Negative Net
     Operating Income after June 30, 2001.

4.   The Borrower shall maintain a minimum Fixed Charge Coverage Ratio of
     1.0:1.0 after September 30, 2000 (to be tested quarterly).

5.   The Borrower shall maintain a minimum ratio of total Debt to Tangible Net
     Worth of 0.4:1.0 (to be tested quarterly).

Definitions:
-----------

     "Current Assets" means the sum of cash, accounts receivable and marketable
     securities.

     "Current Liabilities" means the sum of all current liabilities other than
     deferred revenue plus amounts outstanding under the Revolving Credit not
     classified as current liabilities.

     "Debt" means the maximum combined debt outstanding under the Revolving
     Credit, any equipment leases, or any other debt arrangements maturing
     within one year.

     "Fixed Charge Coverage Ratio" means EBITDA plus rent divided by interest
     plus principal plus rent.

     "Negative Net Operating Income" means earnings before interest, taxes,
     depreciation and amortization (or "EBITDA") less than zero calculated in
     accordance with generally accepted accounting principles.

     "Tangible Net Worth" means shareholders' equity less intangible assets
     (calculated in accordance with generally accepted accounting principles),
     plus any equity or subordinated and/or convertible debt investments created
     after the date of this Agreement.

     "Quick Ratio" means Current Assets divided by Current Liabilities.

                                       23
<PAGE>

                           II. PERMITTED ENCUMBRANCES
                               ----------------------

1.  Purchase money security interests.

2.  Capital Leases permitted under Section 6.1 hereto.

                           III. ENVIRONMENTAL MATTERS
                                ---------------------

                                      None

AMENDED AND RESTATED
BORROWING BASE RIDER

          THIS AMENDED AND RESTATED BORROWING BASE RIDER ("Rider") is executed
this 1st day of February, 2000, by and between ITXC CORP., a Delaware
corporation (the "Borrower"), and PNC BANK, N.A. (the "Bank").  This Rider is
incorporated into and made part of that certain Amended and Restated Loan
Agreement dated February 1, 2000 (the "Loan Agreement"), and also into such
other financing documents and security agreements as may be executed and
delivered pursuant to said Loan Agreement (all such documents including this
Rider are collectively referred to as the "Loan Documents").  All initially
capitalized terms not otherwise defined in this Rider shall have the same
meanings ascribed to such terms in the other Loan Documents.

          Pursuant to the Loan Documents, the Bank has extended a "Loan" to the
Borrower which includes a "Revolving Credit Facility" under which the Borrower
may borrow, repay and reborrow funds at any time prior to the Revolving Credit
Expiration Date and an "Equipment Line of Credit" (collectively, the
"Facility").  As a condition to the Bank's willingness to extend the Facility to
the Borrower, the Bank and the Borrower are entering into this Rider in order to
set forth their agreement regarding the maximum amount which may be outstanding
under the Facility at any time, and for the other purposes set forth below:

          NOW, THEREFORE, in consideration of the foregoing and intending to be
legally bound, the parties hereto covenant and agree as follows:

1.  Limitations on Borrowings Under Facility.  Notwithstanding any provisions to
    ----------------------------------------
the contrary in any of the other Loan Documents, at no time shall the aggregate
principal amounts of indebtedness outstanding at any one time under the Facility
exceed the Borrowing

                                       24
<PAGE>

Base (as defined hereinafter) at such time. If at any time the aggregate
principal amount of indebtedness outstanding under the Facility exceeds the
limitation set forth in this Section 1 for any reason, then the Borrower shall
immediately repay the amount of such excess to the Bank in immediately available
funds.

2.  Borrowing Base Certificates.  The Borrower shall deliver an updated
    ---------------------------
Borrowing Base Certificate upon the Bank's request and in no event later than on
or before the 15th day of each month or the first business day thereafter if
such day falls on a weekend or holiday, if no new advances have been requested
by the Borrower under the Facility since the date of the preceding Borrowing
Base Certificate.

3.  Certain Defined Terms.  In addition to the words and terms defined elsewhere
    ---------------------
in this Rider or in the other Loan Documents, as used in this Rider, the
following words and terms shall have the following meanings:

          "Account" shall mean an "account" or a "general intangible" as defined
in the Uniform Commercial Code as in effect in the jurisdiction whose Law
governs the perfection of the Bank's security interest therein, whether now
owned or hereafter acquired or arising.

          "Account Debtor" shall mean, with respect to any Account, each Person
who is obligated to make payments to either of the Borrower on such Account.

          "Affiliate" of the Borrower or any Account Debtor shall mean (a) any
Person who (either alone or with a group of Persons, and either directly or
indirectly through one or more intermediaries) is in control of, is controlled
by or is under common control with the Borrower or such Account Debtor, (b) any
director, officer, partner, employee or agent of the Borrower or such Account
Debtor, and (c) any member of the immediate family of any natural person
described in the preceding clauses (a) and (b).  A Person or group of Persons
shall be deemed to be in control of the Borrower or an Account Debtor when such
Person or group of Persons possesses, directly or indirectly, the power to
direct or cause the direction of the management or policies of the Borrower or
such Account Debtor, whether through the ownership of voting securities, by
contract or otherwise.

          "Borrowing Base" shall mean for the Revolving Credit, at any time
through the Revolving Credit Expiration Date, the lesser of (a) $10,000,000 (the
maximum principal amount of the Facility) and (b) the sum of (i) 80% of
Qualified Accounts at such time, (ii) 100% of foreign receivables qualified
under the Credit Insurance Agreement entered into pursuant to Section 2.9 of the
Loan Agreement and (iii) 100% of Cash Collateral Balance.

The value at any time of the collateral described in this definition shall be
determined by reference to the most recent Borrowing Base Certificate delivered
by the Borrower to the Bank.

          "Borrowing Base Certificate" shall mean each Borrowing Base
Certificate to be delivered by the Borrower to the Bank pursuant to Section 2 of
this Rider, in substantially the

                                       25
<PAGE>

form attached as Exhibit A to this Rider, with blanks appropriately completed,
                 ---------
as amended, supplemented or otherwise modified from time to time. References in
the Borrowing Base Certificate to the "Credit and Security Agreement" shall be
deemed to be references to this Rider and the other Loan Documents.

          "Cash Collateral Balance" shall mean all certificates of deposit
maintained by the Bank as security for Reimbursement Obligations of the Borrower
to the Bank with respect to Letters of Credit; provided, that the rights of the
                                               --------
Bank to foreclose on such certificates of deposit shall supplement and not limit
any general rights of offset or recoupment which the Bank may have under the
Loan Documents.

          "Law" shall mean any law (including common law), constitution,
statute, treaty, regulation, rule, ordinance, order, injunction, writ, decree or
award of any Official Body.

          "Lien" shall mean any mortgage, pledge, security interest, bailment,
encumbrance, claim, lien or charge of any kind, including any agreement to give
any of the foregoing, any conditional sale or other title retention agreement
and any lease in the nature thereof, and the filing of or agreement to give any
financing statement under the Uniform Commercial Code.

          "Official Body" shall mean any government or political subdivision or
any agency, authority, bureau, central bank, commission, department or
instrumentality of any government or political subdivision, or any court,
tribunal, grand jury or arbitrator, in each case whether foreign or domestic.

          "Person" shall mean an individual, sole proprietorship, corporation,
partnership (general or limited), trust, business trust, limited liability
company, unincorporated organization or association, joint venture, joint-stock
company, Official Body, or any other entity of whatever nature.

          "Qualified Accounts" shall mean Accounts which are and at all times
continue to meet the following conditions:

           (a) The Account duly complies with all applicable Laws, whether
               Federal, state or local, including but not limited to usury Laws,
               the Federal Truth in Lending Act, the Federal Consumer Credit
               Protection Act, the Fair Credit Billing Act, and Regulation Z of
               the Board of Governors of the Federal Reserve Systems;

           (b) The Account was not originated in or subject to the Laws of a
               jurisdiction whose Laws would make the account or the grant of
               the security interest in the Account to the Bank unlawful,
               invalid or unenforceable;

                                       26
<PAGE>

           (c) The Account was originated by the Borrower in connection with the
               sale of goods or the rendering of services by the Borrower in the
               ordinary course of business under an enforceable contract, and
               such sale has been consummated and such goods have been delivered
               or such services have been rendered so that the performance of
               such contracts has been completed by such Borrower and by all
               parties other than the Account Debtor;

           (d) The Account is evidenced by a written invoice or other
               documentation and arises from a contract, all of which are in
               form and substance satisfactory to the Bank;

           (e) The Account does not arise out of a contract with, or order from,
               an Account Debtor that, by its terms, forbids or makes void or
               unenforceable the grant of the security interest by the Borrower
               to the Bank in and to the Account arising with respect thereto;

           (f) The title of the Borrower to the Account and, except as to the
               Account Debtor, to any related goods is absolute and is not
               subject to any Lien except Liens in favor of the Bank;

           (g) The Account provides for payment in United States Dollars by the
               Account Debtor;

           (h) The Account shall have amounts owing that are not less than the
               amounts represented by the Borrower;

           (i) The portion of the Account for which income has not yet been
               earned or which constitutes unearned discount, services charges
               or deferred interest shall be ineligible;

           (j) The Account shall be eligible only to the extent that it is not
               subject to any defense, claim of reduction, counterclaim,
               set-off, recoupment, or any dispute or claim for credits,
               allowances or adjustments by the Account Debtor because of
               returned, inferior, damaged goods or unsatisfactory service, or
               for any other reason;

           (k) The goods the sale of which gave rise to the Account were shipped
               or delivered or provided to the Account Debtor on an absolute
               sale basis and not on a bill and hold sale basis, a consignment
               sale basis, a guaranteed sale basis, a sale or return basis or on
               the basis of any other similar terms making the Account Debtor's
               payment obligations conditional;

                                       27
<PAGE>

           (l) The Account Debtor has not returned, rejected or refused to
               retain, or otherwise notified the Borrower of any dispute
               concerning, or claimed nonconformity of, any of the goods from
               the sale of which the Account arose;

           (m) No default exists under the Account by any party thereto, and all
               rights and remedies of the Borrower under the Account are freely
               assignable by the Borrower;

           (n) The Account has not been outstanding for more than ninety (90)
               days past the invoice date and is not subject to "dating" terms;

           (o) The Account shall be ineligible to the extent that the aggregate
               amount of all the Accounts of the Account Debtor and its
               Affiliates exceed 20% of all of the Borrower's Accounts;

           (p) The Borrower has not received any note, trade acceptance, draft,
               chattel paper or other instrument with respect to, or in payment
               of, the Account, unless, if any such instrument has been
               received, the Borrower immediately notifies the Bank and, at the
               Bank's request, endorses or assigns and delivers such instrument
               to the Bank;

           (q) The Borrower has not received any notice of (i) the filing by or
               against the Account Debtor of any proceeding in bankruptcy,
               receivership, insolvency, reorganization, liquidation,
               conservatorship or any similar proceeding, or (ii) any assignment
               by the Account Debtor for the benefit of creditors. Upon receipt
               by the Borrower of any such notice, it will give the Bank prompt
               written notice thereof;

           (r) The Account Debtor is not an Affiliate of the Borrower;

           (s) The Account shall be ineligible if the Account Debtor is an
               Official Body, unless the Borrower shall have taken all actions
               deemed necessary by the Bank in order to perfect the Bank's
               security interest therein, including but not limited to any
               notices or filings required under the Assignment of Claims Act of
               1940, as amended, or other applicable Laws; and

           (t) The Bank has not deemed such Account ineligible because of
               uncertainty about the creditworthiness of the Account Debtor
               (including, without limitation, unsatisfactory past experiences
               of the Borrower or the Bank with the Account Debtor) or because
               the Bank otherwise makes a reasonable determination that the
               collateral value of the Account to the Bank is impaired or that
               the Bank's ability to realize such value is insecure.

                                       28
<PAGE>

Standards of acceptability shall be fixed and may be revised from time to time
by mutual agreement of Bank and the Borrower.  In the case of any dispute about
whether an Account is or has ceased to be a Qualified Account, the decision of
the Bank shall be final.

         4. Governing Law. This Rider will be interpreted and the rights and
            -------------
liabilities of the parties hereto determined in accordance with the laws of the
commonwealth of pennsylvania, excluding its conflicts of law rules.

         5. Counterparts. This Rider may be signed in any number of counterpart
            ------------
copies and by the parties hereto on separate counterparts, but all such copies
shall constitute one and the same instrument.

                           [Signature Page to Follow]

                                       29
<PAGE>

          WITNESS the due execution of this Borrowing Base Rider as a document
under seal, as of the date first written above.

ATTEST:                                 ITXC CORP.

By:                                     By:      /s/ Edward B. Jordan
    ----------------------------             -----------------------------(SEAL)

Print Name:                             Print Name: Edward B. Jordan
             -------------------                   ---------------------------

Title:                                  Title: Executive Vice President and CFO
      --------------------------              ----------------------------------

                                        PNC BANK, NATIONAL ASSOCIATION

                                        By:             John Freyhof
                                             ----------------------------(SEAL)

                                        Print Name:     John Freyhof
                                                   ----------------------------

                                        Title:          Vice President
                                               --------------------------------

                                       30<PAGE>

                                                                   EXHIBIT 10.14

                         JOINT VENTURE EXIT AGREEMENT

     THIS JOINT VENTURE EXIT AGREEMENT ("Agreement") is made as of this 7th day
of February, 2000, by and among TeleNova Comunicacoes Ltda., a limited liability
quota company, duly organized and existing under the laws of the Federative
Republic of Brazil ("Brazil"), having a place of business at Alameda Araguaia,
933, conj. 46, Alphaville, Barueri, State of Sao Paulo, Brazil, registered with
the C.G.C./M.F. under No. 02.519.780/0001-06 ("TeleNova"), TeleNova Overseas
Ltd., a British Virgin Islands corporation and a wholly-owned indirect
subsidiary of TeleNova ("TeleNova Overseas"), Telesisa Sistemas
emTelecomunicacoes S.A., a company duly organized and existing under the laws of
Brazil, having a place of business at R. Luigi Galvani, 200, 11.A, Sao Paulo,
Brazil ("Telesisa"), ITXC Comunicacoes Ltda., a limited liability quota company
duly organized and existing under the laws of Brazil, having a principal place
of business at Alameda Araguaia, 933, conj. 46, sub-conj. 1, Alphaville, Barueri
State of Sao Paulo, Brazil, registered with the C.G.C./M.F. under No.
02.691.621/0001-94 ("Ltda"), and ITXC Corp., a corporation duly organized and
existing under the laws of the State of Delaware, USA, having a principal place
of business at 600 College Road East, Princeton, New Jersey, USA 08540 ("ITXC").
Each of TeleNova, Telesisa, Overseas, Ltda and ITXC are also referred to
individually as a "Party" and collectively as the "Parties."

                                    RECITALS

     WHEREAS, effective as of July 19, 1998, TeleNova, Ltda and ITXC entered
into that certain Joint Venture and Quotaholders Agreement (as amended, the "JV
Agreement") pursuant to which such Parties organized Ltda as a limited liability
quota company according to the laws of Brazil;

     WHEREAS, also effective as of July 19, 1998, the Parties entered into that
certain Trademark, Service and Technology License Agreement pursuant to which
ITXC licensed certain identified intellectual property to Ltda (the "License
Agreement");

     WHEREAS, pursuant to the JV Agreement, TeleNova initially owned a fifty-one
percent (51%) interest in Ltda and ITXC initially owned the remaining forty-nine
percent (49%) interest in Ltda, such interests represented by quotas issued by
Ltda;

     WHEREAS, TeleNova has assigned to Telesisa a ten percent (10%) portion of
its interest in Ltda;

     WHEREAS, each of the Parties, for their respective mutual benefit and in
accordance with the terms and conditions contained herein, desire to terminate
the joint venture relationship and license relationship created between them
pursuant to the terms and conditions set forth herein.

  NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and intending to be legally bound,
the Parties hereto hereby agree as follows:
<PAGE>

  1.  Sale to TeleNova of ITXC's 49% Interest in Ltda.
      -----------------------------------------------

  (a)  Contemporaneously with the execution of this Agreement, ITXC hereby
transfers to TeleNova ITXC's forty-nine percent (49%) ownership interest in
Ltda.  To effect such transfer, ITXC hereby delivers to TeleNova all of its
interest in one million four hundred seventy thousand (1,470,000) quotas of
Ltda, representing ITXC's entire ownership interest in Ltda. Telesisa expressly
waives its right to purchase its pro rata share of ITXC's 49% ownership interest
in Ltda.  TeleNova shall take all actions required to modify and amend Ltda's
organizational documents to reflect the fact that ITXC no longer has any
ownership interest in Ltda; provided that, to the extent necessary, ITXC (or its
representative in Brazil), as the former owner of such forty-nine percent (49%)
ownership interest, shall execute such documents as shall be necessary to
reflect the fact that ITXC no longer has any ownership interest in Ltda.

  (b)  TeleNova or any of its affiliates intends to commence a private placement
of TeleNova's quotas or any of its affiliates' equity securities ("TeleNova
Quotas") (such private placement, the "Proposed Private Placement").  In
connection with the Proposed Private Placement, TeleNova shall receive from Bank
of America, within seven days from the date hereof,  a written valuation report
setting forth the valuation of the issuer of the TeleNova Quotas immediately
prior to the Proposed Private Placement (the "Valuation Report").  Within seven
days of the date hereof, TeleNova shall (provided that ITXC complies with
Section 4 hereof) transfer to ITXC a number of TeleNova Quotas equal to Six
Million Dollars U.S. ($6,000,000) divided by the "Per Quota Price" (as
hereinafter defined).  For purposes of this Agreement, the term "Per Quota
Price" shall mean a fraction, the numerator of which is the aggregate valuation
of the issuer of the TeleNova Quotas, as set forth in the Valuation Report,
expressed in U.S. dollars, and the denominator of which is the number of quotas
or other equity interests, as the case may be, of such issuer outstanding on the
date hereof.  It is understood that such TeleNova Quotas will not be registered
under the securities laws of any jurisdiction. The Parties shall not take any
action, such as a stock split, stock dividend or other recapitalization, which
will prejudice ITXC's rights under this Section 1(b) unless a reasonable
adjustment is made under this Section 1(b) such that ITXC shall not be adversely
affected by such action.

  2.  Termination of JV Agreement.  The JV Agreement is hereby terminated.  None
      ---------------------------
of the Parties shall have any remaining obligations under the JV Agreement,
except with respect to (a) liabilities that have accrued thereunder prior to the
date hereof and (b) obligations expressly described in the JV Agreement as
obligations that survive termination of the JV Agreement.

  3.  Termination of the License Agreement.  The License Agreement is hereby
      ------------------------------------
terminated.  None of the Parties shall have any remaining obligations under the
JV Agreement, except with respect to (a) liabilities that have accrued
thereunder prior to the date hereof and (b) obligations expressly described in
the License Agreement as obligations that survive termination of the License
Agreement.

  4.  Issuance of Shares.  Within seven days from the date hereof, ITXC shall
      ------------------
(provided that TeleNova complies with Section 1(b) hereof) issue and transmit to
TeleNova Overseas a stock certificate, in TeleNova Overseas' name, representing
one hundred and thirty-
<PAGE>

five thousand (135,000) shares of ITXC's common stock (the "TeleNova Shares")
and shall issue and transmit to Telesisa a stock certificate, in Telesisa's
name, representing fifteen thousand (15,000) shares of ITXC's common stock (the
"Telesisa Shares" and, collectively with the TeleNova Shares, the "Shares").

  5.    Representations and Agreements of the TeleNova Parties.
        ------------------------------------------------------

  (a)  TeleNova, TeleNova Overseas and Telesisa (collectively, the "TeleNova
Parties") acknowledge that the Shares have not been registered under the United
States Securities Act of 1933 (the "Act") or under the laws of any other
jurisdiction.

  (b)  The TeleNova Parties acknowledge that they are acquiring the Shares for
investment purposes and not for purposes of distributing the Shares in violation
of the provisions of the Act or any other laws.

  (c)  The TeleNova Parties agree that they will not transfer the Shares unless
(i) such transfer is registered under the Act and all other laws requiring
registration prior to such transfer, (ii) ITXC receives an opinion of counsel,
in form and substance satisfactory to ITXC, to the effect that such transfer is
exempt from registration under the Act and all other applicable laws or (iii)
the Securities and Exchange Commission (the "SEC") issues a letter, in form and
substance reasonably satisfactory to ITXC, to the effect that the SEC will not
take any enforcement action under the Act in connection with such transfer and
counsel reasonably satisfactory to ITXC provides an opinion to ITXC that no
other law requires such transfer to be registered. The opinion of counsel
referred to in clause (ii) may be based on (a) the conclusion (if applicable)
that the transfer is made outside the United States in compliance with the
requirements of Rule 904 of Regulation S of the SEC and in compliance with
applicable local laws and regulations, (b) the conclusion (if applicable) that
the transfer is made pursuant to an exemption from registration under the Act
provided by Rule 144 thereunder or (c) the conclusion that the Shares are
otherwise transferred in a transaction that does not require registration under
the Act or any applicable laws and regulations governing the offer and sale of
securities.

  (d)  The TeleNova Parties acknowledge that until, in the reasonable opinion of
ITXC's counsel, such time as a legend is no longer required under applicable
requirements of law, the certificates representing the Shares will bear a
restrictive legend stating as follows:

        "The Shares represented by this Certificate have not been registered
  under the Securities Act of 1933 (the "Act") and may not be transferred
  unless (i) such transfer is registered under the Act and all other laws
  requiring registration prior to such transfer, (ii) ITXC receives an opinion
  of counsel satisfactory to ITXC to the effect that such transfer is exempt
  from registration under the Act and all other applicable laws or (iii) the
  Securities and Exchange Commission (the "SEC") issues a letter, in form and
  substance reasonably satisfactory to ITXC, to the effect that the SEC will
  not take any enforcement action under the Act in connection with such
  transfer and counsel reasonably satisfactory to ITXC provides an opinion to
  ITXC that no other law requires such transfer to be registered. The

<PAGE>

  opinion of counsel referred to in clause (ii) may be based on (a) the
  conclusion (if applicable) that the transfer is made outside the United
  States in compliance with the requirements of Rule 904 of Regulation S of
  the SEC and in compliance with applicable local laws and regulations, (b)
  the conclusion (if applicable) that the transfer is made pursuant to an
  exemption from registration under the Act provided by Rule 144 thereunder or
  (c) the conclusion that the Shares are otherwise transferred in a
  transaction that does not require registration under the Act or any
  applicable laws and regulations governing the offer and sale of securities."

  (e)  The TeleNova Parties acknowledge that they have been advised that ITXC
intends to instruct its transfer agent to impose stop transfer restrictions in
its records with respect to the Shares.

  (f)  The TeleNova Parties acknowledge that they have received a copy of ITXC's
final prospectus with respect to its September 1999 initial public offering (the
"Prospectus") and have received a copy of ITXC's quarterly report on Form 10-Q
with respect to the quarter ended September 30, 1999.

  6.  Name Change of Ltda.  Within 30 days after the date hereof, the parties
      -------------------
hereto other than ITXC shall change the name of Ltda to a name that does not
include or make reference to the name ITXC and that is not confusingly similar
to the name ITXC and shall provide evidence thereof in a form reasonably
satisfactory to ITXC.

  7.  Ltda Agreements.  All agreements, other than (a) the JV Agreement, (b) the
      ---------------
License Agreement and (c) any other agreement between Ltda and ITXC or any
subsidiary or affiliate of ITXC, shall remain in full force and effect in
accordance with their terms.

  8.  ITXC/TeleNova Affiliation.  Within seven days from the date hereof,
      -------------------------
TeleNova and ITXC shall execute ITXC's standard WWeXchange Network Services
Origination/Termination Agreement, in the form and substance of the agreement
annexed hereto and incorporated herein as Exhibit A, and ITXC's standard Agent
                                          ---------
Agreement, in the form and substance of the agreement annexed hereto and
incorporated herein as Exhibit B.
                       ---------

  9.  Non-Compete.  Set forth in Exhibit C annexed hereto and incorporated
      -----------                ---------
herein is a list of certain agreements or prospective agreements between Ltda
and customers of Ltda which survive the expiration of the JV Agreement and the
License Agreement (each a "Ltda Contract" and, collectively, the "Ltda
Contracts").  Notwithstanding the foregoing, a prospective agreement described
in such Exhibit C shall cease to be a "Ltda Contract" if such agreement is not
executed within three (3) months from the date hereof.  With respect to each
customer that is a party to a Ltda Contract a ("Ltda Contract Customer"), ITXC
shall not compete with TeleNova for the business of such customer within the
"Territory" (as hereinafter defined) until the soonest of (i) four (4) years
following the date hereof, (ii) such contract ceases to be a Ltda Contract in
accordance with the immediately preceding sentence or (iii) the date on which
TeleNova no longer provides IP telephony services to such customer within the
Territory under
<PAGE>

such Ltda Contract (with respect to each Ltda Contract Customer, the "Non-
Compete Period"). TeleNova acknowledges and agrees that upon the termination of
any Ltda Contract (or upon the cessation of any treatment of such contract as a
Ltda Contract) or in the event that a Ltda Contract Customer is no longer
obtaining services from TeleNova within the Territory, ITXC's non-competition
obligation with respect to the applicable Ltda Contract Customer expires and
ITXC may solicit the business of such Ltda Contract Customer in the Territory
(as well as outside the Territory). During the Non-Compete Period for each Ltda
Contract Customer, TeleNova shall exclusively route through ITXC, at competitive
market prices, or shall cause Ltda to exclusively route through ITXC, all IP
telephony traffic from or to such Ltda Contract Customer inside or outside the
Territory, including without limitation all traffic which (x) originates within
any of the countries of Brazil, Argentina, Uruguay, Paraguay and Chile (the
"Territory") and terminates outside the Territory, (y) originates from outside
the Territory and terminates in the Territory or (z) originates and terminates
outside the Territory; provided, however, that traffic which both originates and
terminates within the Territory shall not be subject to such exclusivity
requirement.

  10.  Publicity Announcement.  At the appropriate time, ITXC shall issue a
       ----------------------
public announcement identifying TeleNova as the first international distributor
for corporate SNARCs (as described in the Prospectus) to Spanish and Portuguese
speaking markets (the "SNARC Announcement") and, if applicable, that ITXC is a
shareholder of TeleNova.  The timing of the SNARC Announcement shall be at the
sole discretion of ITXC and is dependent on a successful pilot test by ITXC of
the corporate SNARC product.

  11.  Compliance with Laws.  Each Party agrees to comply in all material
       --------------------
respects with all applicable laws, rules and regulations of any jurisdiction
required for the purpose of fulfilling its obligations under this Agreement.

  12.  Expenses.  Except as otherwise expressly provided herein, all expenses
       --------
incurred by the Parties in connection with this Agreement will be borne wholly
by the Party incurring such expenses.

  13.  Publicity.  Except as set forth in Section 10 hereof or as required by
       ---------
law or as disclosed in documents filed by ITXC with the SEC or by TeleNova with
any comparable agency, no Party shall create, publish, distribute or permit any
written material making reference to the other Party or Parties, without first
submitting such material to the other Party and/or Parties and obtaining such
Party's prior written consent, such consent not to be unreasonably delayed or
withheld.

  14.  Intellectual Property.    Except as expressly set forth herein, this
       ---------------------
Agreement shall not be construed as a license for any Party to use any
trademark, service mark or other intellectual property right of any other Party.
Any inventions or other intellectual property developed by a Party hereto shall
be the property of that Party.

  15.  Assignment and Subcontracting; Successors and Assigns.  This Agreement
       -----------------------------------------------------
may not be assigned by any Party without the consent of each other Party, which
consent shall not be
<PAGE>

unreasonably withheld or delayed, provided, however, that this Agreement may be
assigned without prior consent to a third party that acquires substantially all
of the stock or assets of a Party. The Parties acknowledge that any Party may
contract or subcontract any of its rights, duties or obligations under this
Agreement to a third party, but that such contracting or subcontracting shall
not relieve a Party from its obligations hereunder. This Agreement shall be
binding upon and inure to the benefit of the Parties hereto and their respective
successors, heirs, permitted assigns and legal representatives.

  16.  Construction of Agreement.  Each of the Parties have participated fully
       -------------------------
in the preparation and revision of this Agreement.  Any rule of construction to
the effect that ambiguities are to be resolved against the drafting Party shall
not apply to the interpretation of this Agreement.

  17.  No Partnership.  The Parties hereto are independent contractors, and
       --------------
nothing in this Agreement will create any partnership, joint venture, agency,
franchise, sales representative, or employment relationship between or among the
Parties.  No Party has authority to make or accept any offers or representations
on behalf of any other Party hereto.

  18.  Further Assurances.  Each Party will do such further acts, including
       ------------------
executing and delivering additional agreements or instruments as the other may
reasonably require, to consummate, evidence, confirm or give effect to the
agreements contained in this Agreement.

  19.  Governing Law.  This Agreement, the performance thereof and any and all
       -------------
matters arising directly or indirectly herefrom and/or therefrom shall be
construed, interpreted, applied and governed in all respects in accordance with
the laws of the State of New Jersey, USA, without regard to such State's
conflicts or choice of laws provisions.

  20.  Notices.  Any notice or other communication required or permitted to be
       -------
given hereunder shall be in writing and given by hand delivery or by confirmed
facsimile, or sent, postage prepaid, by registered, certified (return receipt
requested) or express mail or reputable overnight courier service and shall be
deemed given when so delivered by hand or confirmed facsimile or if mailed, five
calendar days after mailing (three days in the case of express mail or overnight
courier service), addressed as follows:

  If to ITXC:                                  With a Copy to:
  ----------                                   --------------
  ITXC Corp.                                   LOWENSTEIN SANDLER PC
  600 College Road East                        65 Livingston Avenue
  Princeton, NJ USA  08540                     Roseland, NJ USA  07068
  Facsimile: 609-419-1511                      Facsimile: 973-597-2400
  Attn:  Mr. Thomas Evslin                     Attn: Peter H. Ehrenberg, Esq.

<PAGE>

  If to TeleNova, TeleNova Overseas and        With a Copy to:
  -------------------------------------        --------------
  and Telesisa:
  ------------
  TeleNova Comunicacoes Ltda.                  TeleNova Communications Corp.
  R. Arandu, 281 9.A                           100 N. Biscayne Blvd. Suite 2905
  04562-030 Sao Paulo, SP Brazil               Miami, Florida 33152
  Facsimile:(+5511) 5506-4525 x.120            Facsimile: 305-357-2508
  Attn: Mr. Ulrich Kuhn                        Attn: Mr. Hiran Marques

  If to Ltda:                                  With a Copy to:
  ----------                                   --------------
  ITXC Comunicacoes Ltda.                      TeleNova Communications Corp.
  Alameda Araguaia,                            100 N. Biscayne Blvd. Suite 2905
  933, conj. 46,sc 1,                          Miami, Florida 33152
  Alphaville, Barueri,                         Facsimile: 305-357-2508
  Sao Paulo, Brazil                            Attn: Mr. Hiran Marques
  Facsimile:(+5511)5506-4525 x.120
  Attn: Mr. Claudio Collado

or to such other address as a Party may designate in writing to another Party.

   21. Partial Invalidity. If any term or provision of this Agreement is held to
       ------------------
be invalid, illegal or unenforceable in any respect, such invalidity, illegality
or unenforceability shall not affect any other provision of this Agreement, but
such provision or provisions shall be ineffective only to the extent of such
invalidity, illegality or unenforceability and shall be enforced to the fullest
extent permitted by applicable law, without invalidating the remainder of such
provision or provisions or the remaining provisions of this Agreement.

   22.  Successors and Assigns.  The rights and obligations of the Parties
        ----------------------
shall be binding upon and inure to the benefit of the Parties and their
respective heirs, representatives, successors and permitted assigns.

   23.   Waiver.  The failure to enforce or the delay in enforcement of any
         ------
provision, right or option of this Agreement by any Party hereto shall in no way
be construed to be a waiver of such provision, right or option, nor shall such
action be deemed a waiver of any other right which that Party may otherwise have
at law or in equity.

   24.   Headings.  The titles and headings contained in this Agreement are for
         --------
reference purposes only and shall not in any manner limit the construction of
this Agreement.

   25.   Counterparts.  This Agreement may be executed simultaneously in two or
         ------------
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
<PAGE>

   26.   Entire Agreement; Amendment.  This Agreement sets forth the entire
         ---------------------------
agreement and understanding among the Parties with respect to its subject matter
and merges and supersedes all previous communications, negotiations,
representations, understandings and agreements, either oral or written, between
or among the Parties with respect to the subject matter hereof.  No amendment or
modification of this Agreement shall be binding on either Party hereto, unless
reduced to writing and duly executed by an authorized representative of each of
the Parties hereto.
<PAGE>

   IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly
executed as of the day and year first above written.

TeleNova Comunicacoes Ltda.           Telesisa Sistemas emTelecomunicacoes S.A.

By: /s/ Ulrich Kuhn                   By: /s/ Antonio M. Moracci

Name: Ulrich Kuhn                     Name: Antonio M. Moracci

Title: Chief Operating Officer        Title: President

ITXC Comunicacoes Ltda.               ITXC Corp.

By: /s/ Claudio Collado               By: /s/ Tom Evslin

Name: Claudio Collado                 Name: Tome Evslin

Title: General Manager                Title: Chairman and Chief Executive
                                             Officer

TeleNova Overseas Ltd.

By: /s/ Hiran Marques

Name: Hiran Marques

Title: Director

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