Document:

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                                                                    EXHIBIT 4.10

                 VOTING AND STOCK TRANSFER RESTRICTION AGREEMENT

         This VOTING AND STOCK TRANSFER RESTRICTION AGREEMENT, dated as of
February 11, 2000 (this "Agreement"), is made and entered into among
Communication TeleSystems International d/b/a WORLDxCHANGE Communications, a
California corporation ("CTI"), and the parties listed on Exhibit A attached
hereto (each, a "WAXS Stockholder" and collectively, the "WAXS Stockholders").

         WHEREAS, World Access, Inc., a Delaware corporation ("WAXS"), and CTI
propose to enter into an Agreement and Plan of Merger, dated as of the date
hereof (as the same may be amended or supplemented, the "Merger Agreement";
capitalized terms used but not defined herein shall have the meanings set forth
in the Merger Agreement), providing for a business combination between WAXS and
CTI (the "Transaction"), upon the terms and subject to the conditions set forth
in the Merger Agreement;

         WHEREAS, each WAXS Stockholder owns, of record or beneficially, the
number of shares of WAXS Common Stock or other capital stock of WAXS (such
shares of WAXS Common Stock and other capital stock of WAXS being referred to as
"WAXS Capital Stock") set forth opposite such WAXS Stockholder's name on Exhibit
A attached hereto (such shares of WAXS Capital Stock, together with any other
shares of WAXS Capital Stock of which such WAXS Stockholder acquires beneficial
ownership after the date hereof and during the term of this Agreement, whether
upon the exercise of options, warrants or rights, the conversion or exchange of
convertible or exchangeable securities, or by means of purchase, dividend,
distribution or otherwise, being collectively referred to herein as the "Subject
Shares"); and

         WHEREAS, as a condition to its willingness to enter in the Merger
Agreement, CTI has requested that the WAXS Stockholders enter into this
Agreement.

         NOW, THEREFORE, in consideration of the premises and the
representations, warranties and agreements contained herein, the parties agree
as follows:

         1.       Representations and Warranties of the WAXS Stockholders.
Except as set forth on Exhibit A attached hereto, each WAXS Stockholder hereby
represents and warrants to CTI as to itself as follows:

                  (a)      Authority; No Conflicts. Such WAXS Stockholder has
         the legal capacity and all requisite power and authority to enter into
         this Agreement, to perform its obligations hereunder and to consummate
         the transactions contemplated hereby. This Agreement has been duly
         authorized, executed and delivered by such WAXS Stockholder and
         constitutes a valid and binding obligation of such WAXS Stockholder
         enforceable in accordance with its terms. No filing with, and no
         permit, authorization, consent or approval of, any governmental
         authority or any other person is necessary for the execution of this
         Agreement by such WAXS Stockholder and the consummation by such WAXS
         Stockholder of the transactions contemplated hereby and none of the
         execution and delivery of this Agreement by such WAXS Stockholder, the
         consummation of the

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         transactions contemplated hereby or compliance with the terms hereof by
         such WAXS Stockholder will conflict with, or result in any violation
         of, or default (with or without notice or lapse of time or both) under
         any provision of, as applicable, the certificate of incorporation,
         bylaws or analogous documents of such WAXS Stockholder or any agreement
         to which such WAXS Stockholder is a party, including any voting
         agreement, stockholders agreement, voting trust, trust agreement,
         pledge agreement, loan or credit agreement, note, bond, mortgage,
         indenture, lease or other agreement, instrument, permit, concession,
         franchise or license or violate any judgment, order, notice, decree,
         statute, law, ordinance, rule or regulation applicable to such WAXS
         Stockholder or to its property or assets except (i) where the failure
         to make such filings or obtain such permits, authorizations, consents
         or approvals would not prevent or delay the performance by such WAXS
         Stockholder of its obligations under this Agreement or (ii) for any
         such conflicts, violations, defaults or other occurrences that would
         not prevent or delay the performance by such WAXS Stockholder of its
         obligations under this Agreement.

                  (b)      Subject Shares. Except as set forth on Exhibit A
         hereto, such WAXS Stockholder is the record and beneficial owner of
         (or, in the case of John D. Phillips, has sole direct or indirect
         voting and dispositive power over), and has good and marketable title
         to, the number of Subject Shares set forth opposite such WAXS
         Stockholder's name on Exhibit A hereto, free and clear of any
         encumbrances, agreements, adverse claims, liens or other arrangements
         with respect to the ownership of or the right to vote or dispose of
         such Subject Shares. Other than such Subject Shares, such WAXS
         Stockholder does not beneficially or of record own any shares of WAXS
         Capital Stock or securities convertible into or exchangeable for shares
         of WAXS Capital Stock. Except as set forth on Exhibit A hereto, such
         WAXS Stockholder has the sole right and power to vote and dispose of
         such Subject Shares. Except as set forth on Exhibit A hereto, none of
         such Subject Shares are subject to any voting trust or other agreement,
         arrangement or restriction with respect to the voting or transfer of
         any of the Subject Shares, except as contemplated by this Agreement.

         2.       Voting and Transfer of Subject Shares.

                  (a)      Until the termination of this Agreement in accordance
         with Section 5 hereof, each WAXS Stockholder agrees as to itself that
         at any meeting of stockholders of WAXS or at any adjournment thereof or
         in any other circumstance upon which the WAXS Stockholders' vote,
         consent or other approval (including by written consent) is sought,
         such WAXS Stockholder shall vote all of the Subject Shares then
         beneficially owned by such WAXS Stockholder (i) in favor of the
         Transaction and the adoption and the approval of the Merger Agreement
         and each of the other transactions contemplated by the Merger Agreement
         and (ii) against any action or agreement that would result in a
         material breach of any covenant, representation or warranty or any
         other obligation or agreement of WAXS under the Merger Agreement. No
         WAXS Stockholder shall hereafter, unless and until this Agreement
         terminates pursuant to Section 5 hereof, purport to grant any proxy or
         power of attorney with respect to any of the Subject Shares set forth
         opposite such WAXS Stockholder's name on Exhibit A, deposit any of such
         Subject Shares into a voting trust or enter into any agreement (other
         than this

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         Agreement), arrangement or understanding with any person, directly or
         indirectly, to vote, grant any proxy or give instructions with respect
         to the voting of any of such Subject Shares, in each case only to the
         extent it relates to the matters referred to in the first sentence of
         this Section 2(a). Each WAXS Stockholder further agrees not to commit
         or agree to take any action inconsistent with the foregoing.

                  (b)      Prior to the termination of this Agreement in
         accordance with Section 5 hereof, each WAXS Stockholder agrees not to
         sell, hypothecate, transfer, pledge, encumber, assign or otherwise
         dispose of (including by gift) (collectively, "Transfer") any of the
         Subject Shares or WAXS Stock Options held by such WAXS Stockholder
         (beneficially or of record) except Transfers pursuant to bona fide
         transactions with unaffiliated persons or entities.

         3.       No Ownership Interest. Except as set forth in Section 2,
nothing contained in this Agreement shall be deemed to vest in anyone other than
the WAXS Stockholders any direct or indirect ownership or incidents of ownership
of or with respect to any of the Subject Shares or WAXS Stock Options. All
rights, ownership and economic benefits of and relating to the Subject Shares
and the WAXS Stock Options shall remain and belong to the WAXS Stockholders, and
no one shall have any authority to manage, direct, restrict, govern or
administer any of the policies or operations of WAXS or exercise any power or
authority to direct the voting of any of the Subject Shares as a result of this
Agreement, except to the extent set forth in Section 2(a).

         4.       Assignment. Except as otherwise specifically provided herein,
neither this Agreement nor any of the rights, interests or obligations hereunder
may be assigned by any of the parties hereto without the prior written consent
of the other parties hereto.

         5.       Termination. This Agreement shall terminate, and no party
hereto shall have any rights or obligations hereunder, upon the first to occur
of (i) the termination of the Merger Agreement pursuant to Article IX thereof,
(ii) the Effective Time and (iii) October 31, 2000.

         6.       General Provisions.

                  (a)      Amendments. This Agreement may not be amended except
         by an instrument in writing signed by each of the parties hereto.

                  (b)      Notices. All notices, requests, claims, demands and
         other communications hereunder shall be in writing and shall be given
         (and shall be deemed to have been duly given upon receipt) by delivery
         in person, by telecopy or by registered or certified mail (postage
         prepared, return receipt requested) to the respective parties at the
         following addresses (or at such other address for a party as shall be
         specified by like notice):

                  if to a WAXS Stockholder, to the address set forth beside such
         WAXS Stockholder's name on Exhibit A hereto.

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                  with a copy to:

                  Long Aldridge & Norman LLP
                  303 Peachtree Street, Suite 5300
                  Atlanta, Georgia 30308
                  Attention: H. Franklin Layson
                  Facsimile: (404) 527-4198

                  if to CTI, to:

                  WORLDxCHANGE Communications
                  9999 Willow Creek Road
                  San Diego, California 92131
                  Attention:  Eric Lipoff, Esq.
                  Facsimile:  (858) 452-3780

                  with a copy to:

                  O'Melveny & Myers LLP
                  610 Newport Center Drive
                  17th Floor
                  Newport Beach, California 92660
                  Attention: David A. Krinsky, Esq.
                  Facsimile: (949) 823-6994

                  (c)      Interpretation. When a reference is made in this
         Agreement to Sections, such reference shall be to a Section of this
         Agreement unless otherwise indicated. The headings contained in this
         Agreement are for reference purposes only and shall not affect in any
         way the meaning or interpretation of this Agreement. Wherever the words
         "include", "includes" or "including" are used in this Agreement, they
         shall be deemed to be followed by the words "without limitation".

                  (d)      Counterparts. This Agreement may be executed in two
         or more counterparts, all of which shall be considered one and the same
         agreement, and shall become effective when one or more of the
         counterparts have been signed by each of the parties and delivered to
         the other party, it being understood that each party need not sign the
         same counterpart.

                  (e)      Governing Law. This Agreement shall be governed by,
         and construed in accordance with, the laws of the State of Delaware
         regardless of the laws that might otherwise govern under applicable
         principles of conflicts or law.

                  (f)      Severability. If any term or other provision of this
         Agreement is invalid, illegal or incapable of being enforced by any
         rule or law, or public policy, all other conditions and provisions of
         this Agreement shall nevertheless remain in full force and effect so
         long as the economic or legal substance of the transactions
         contemplated hereby

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         is not affected in any manner materially adverse to any party. Upon any
         determination that any term or other provision is invalid, illegal or
         incapable of being enforced, the parties hereto shall negotiate in good
         faith to modify this Agreement so as to effect the original intent of
         the parties as closely as possible in an acceptable manner to the end
         that transactions contemplated hereby are fulfilled to the extent
         possible.

         7.       Enforcement. The parties agree that irreparable damage would
occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. It
is accordingly agreed that, in addition to any other remedy to which it may be
entitled, at law or in equity, the parties shall be entitled to the remedy of
specific performance of the covenants and agreements contained herein and
injunctive and other equitable relief.

         8.       Parties in Interest. This Agreement shall be binding upon and
inure solely to the benefit of each party hereto. Except as provided in the
preceding sentence, nothing in this Agreement, express or implied, is intended
to or shall confer upon any other person any rights, benefits or remedies or any
nature whatsoever under or by reason of this Agreement.

                     [SIGNATURES ON THE FOLLOWING TWO PAGES]

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         IN WITNESS WHEREOF, the WAXS Stockholders and CTI have caused this
Agreement to be duly and validly executed as of the date first written above.

                                ARMSTRONG INTERNATIONAL
                                TELECOMMUNICATIONS, INC.

                                By:
                                   ---------------------------------------------
                                         Name:
                                         Title:

                                ------------------------------------------------
                                John D. Phillips

                                WORLDCOM NETWORK SERVICES, INC.

                                By:
                                   ---------------------------------------------
                                         Name:
                                         Title:

                                THE 1818 FUND III, L.P.

                                By:  Brown Brothers Harriman & Co.,
                                         Its General Partner

                                By:
                                   ---------------------------------------------
                                         Name:
                                         Title:

                                COMMUNICATIONS TELESYTEMS
                                INTERNATIONAL D/B/A WORLDxCHANGE
                                COMMUNICATIONS

                                By:
                                   ---------------------------------------------
                                         Name:
                                         Title:

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                                -----------------------------------------------
                                  W. Tod Chmar

                                RESURGENS PARTNERS, LLC

                                By: Renaissance Partners II,
                                        Its Manager

                                By:
                                   --------------------------------------------
                                         Name:  John D. Phillips
                                         Title: Partner

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                                    EXHIBIT A

WAXS Stockholder (including address)           Subject Shares

WorldCom Network Services, Inc.                1,750,322 shares of
500 Clinton Center Drive                       WAXS Common Stock
Clinton, Mississippi 39056
Attention:  David Myers
Facsimile: (601) 460-8190

The 1818 Fund III, L.P.                        50,000 shares of the
c/o Brown Brothers Harriman & Co.              Series A Preferred Stock (1) (2)
59 Wall Street
New York, New York 10005
Attention:  Lawrence C. Tucker
Facsimile: (212) 493-8429

John D. Phillips                               1,412,500 shares of
World Access, Inc.                             WAXS Common Stock (3) (4)
Resurgens Plaza, Suite 2210
945 E. Paces Ferry Road
Atlanta, Georgia 30326
Attention:  W. Tod Chmar
Facsimile: (404) 233-2280

W. Tod Chmar                                   312,500 shares of
World Access, Inc.                             WAXS Common Stock
Resurgens Plaza, Suite 2210
945 E. Paces Ferry Road
Atlanta, Georgia 30326
Facsimile: (404) 233-2280

----------------------------------
(1)      The 1818 Fund III, L.P. reports shared voting and dispositive power
         over such securities with Brown Brothers Harriman & Co., Lawrence C.
         Tucker and T. Michael Long.

(2)      The 1818 Fund III, L.P. also holds an option to purchase up to an
         additional 20,000 shares of the Series A Preferred Stock.

(3)      Of the shares indicated, 625,000 shares are owned directly by John D.
         Phillips. The remainder of such shares, or 787,500, are owned by
         Resurgens Partners, LLC, a Georgia liability company. Renaissance
         Partners II, a Georgia general partnership, is the manager of Resurgens
         Partners, LLC. John D. Phillips beneficially owns a majority of the
         general partnership interests of Renaissance Partners II and, as such,
         has sole voting and dispositive power (subject to compliance with all
         applicable securities laws) over the shares of WAXS Common Stock owned
         of record by Resurgens Partners, LLC.

(4)      John D. Phillips has options and warrants to acquire 1,367,000 shares
         of WAXS Common Stock.

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Resurgens Partners, LLC                            787,500 shares of
Resurgens Plaza, Suite 2210                        WAXS Common Stock
945 E. Paces Ferry Road
Atlanta, Georgia 30326
Attention:  W. Tod Chmar
Facsimile: (404) 233-2280

Armstrong International Telecommunications, Inc.   309,001.882 shares
One Armstrong Place                                of Series C Preferred Stock
Butler, Pennsylvania 16001
Attention:  Kirby J. Campbell
Facsimile: (724) 283-2602<PAGE>   1
                                                                    EXHIBIT 4.11

                                ESCROW AGREEMENT

         THIS ESCROW AGREEMENT (this "Agreement") is made and entered into as
of the ___ day of _______, 2000, by and among World Access, Inc., a Delaware
corporation ("WAXS"), Edward S. Soren (the "Shareholder Representative") and
SunTrust Bank, Atlanta, a Georgia banking corporation (the "Escrow Agent").

                              W I T N E S S E T H:

         WHEREAS, WAXS and Communications TeleSystems International d/b/a
WORLDxCHANGE Communications ("CTI") are parties to an Agreement and Plan of
Merger, dated February __, 2000 (the "Merger Agreement"), pursuant to which
WAXS has agreed to acquire CTI on the terms and conditions set forth in the
Merger Agreement;

         WHEREAS, the Merger Agreement provides for the establishment of an
escrow to secure the indemnification obligations under the Merger Agreement of
the shareholders of CTI listed on Schedule 1 hereto (the "CTI Shareholders");

         WHEREAS, the Shareholder Representative has been appointed the
representative and agent of the CTI Shareholders for purposes of actions and
decisions required or permitted to be taken or made by the CTI Shareholders
under the Merger Agreement or this Agreement;

         WHEREAS, it is the intent of the parties hereto that the CTI
Shareholders be considered the beneficial owners of both the shares of WAXS
Common Stock constituting the Escrow Fund (as defined below) as well as the
Contingent Shares, if any, held by the Escrow Agent hereunder and which are not
part of the Escrow Fund, for income tax purposes, including, without
limitation, under Section 368(a) of the Internal Revenue Code of 1986, as
amended (the "Code"), so that both the shares of WAXS Common Stock as well as
the Contingent Shares, if any, will be treated as having been received by the
CTI Shareholders at the time set forth in the Merger Agreement for Section
368(a) purposes; and

         WHEREAS, capitalized terms used but not otherwise defined herein shall
have the meanings given to them in the Merger Agreement.

         NOW, THEREFORE, for and in consideration of the mutual covenants
contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto do hereby
mutually agree as follows:

<PAGE>   2

         1.       Escrow of Security.

                  (a) As security for the indemnification obligations of the
CTI Shareholders under the Merger Agreement, 2,453,385 shares of WAXS Common
Stock (the "Escrow Fund") have been delivered to the Escrow Agent, which shares
shall be held and released by the Escrow Agent in accordance with the terms
hereof.

                  (b) If any Contingent Shares are issued at a time that shares
of WAXS Common Stock remain in escrow pursuant hereto, then any Contingent
Shares that are issued with respect to such shares of WAXS Common Stock held
hereunder shall be delivered to the Escrow Agent and shall be held and released
in accordance with the terms of Section 4 hereof.

         2.       Loss Incurred.

                  (a) In the event that WAXS claims to have suffered a Loss for
which it believes it is entitled to indemnification pursuant to Article VIII of
the Merger Agreement, it shall notify the Escrow Agent and the Shareholder
Representative in a writing providing the information required pursuant to
Section 8.4 of the Merger Agreement (a "Notice of Loss").

                  (b) Within twenty (20) days following delivery of a Notice of
Loss, the Shareholder Representative shall provide to WAXS, with a copy to the
Escrow Agent, a written response (a "Response Letter") in which the Shareholder
Representative shall (i) agree that all of the amounts claims as a Loss in such
Notice of Loss may be released from the Escrow Fund, (ii) agree that part, but
not all, of the amounts claimed as a Loss in such Notice of Loss may be
released from the Escrow Fund to WAXS or (iii) dispute that any of the amounts
claimed as a Loss in such Notice of Loss may be released from the Escrow Fund
to WAXS. If no Response Letter is delivered by the Shareholder Representative
within such 20-day period, the Shareholder Representative shall be deemed to
have disputed that any of the amounts claimed as a Loss in such Notice of Loss
may be released from the Escrow Fund to WAXS.

                  (c) If the Shareholder Representative agrees that all or part
of the amounts claimed as a Loss in such Notice of Loss may be released from
the Escrow Fund to WAXS (the "Agreed Amount"), the Escrow Agent shall release
to WAXS from the Escrow Fund an amount of shares of WAXS Common Stock equal to
the Agreed Amount.

                  (d) In the event that the Shareholder Representative disputes
(or is deemed to have disputed) the claim by WAXS of a Loss pursuant to Section
2(b) above, the Escrow Agent shall not pay the disputed amount of such claim to
WAXS except as it may be directed (A) by a final decision of a court of
competent jurisdiction, which decision has not been appealed within any
applicable time periods for such appeal or with respect to which no appeal is
available, or (B) by a notice in writing signed by WAXS and the Shareholder
Representative. Such disputed claims of a Loss are hereinafter referred to as
"Disputed Unpaid Losses." For purposes hereof, Disputed Unpaid Losses will be
deemed to have been resolved upon the Escrow Agent paying

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the claim of Loss in accordance with clauses (A) or (B) above or upon a
determination that WAXS is not entitled to be paid by the Escrow Agent any
amount claimed as a Loss contained (X) in a final decision of a court of
competent jurisdiction, which decision has not been appealed within any
applicable time periods for such appeal or with respect to which no appeal is
available, or (Y) in a notice in writing signed by WAXS and the Shareholder
Representative.

         3.       Release of Funds. In the event that on the first (1st)
anniversary of the Closing Date no Notice of Loss is pending, the Escrow Agent
shall release for transfer to the CTI Shareholders their pro rata portion of
the balance of the Escrow Fund, if any. If on such date one or more Notices of
Loss are pending, the Escrow Agent shall retain in escrow, from such amount to
be released pursuant to this Section 3, such number of shares of WAXS Common
Stock from the Escrow Fund as shall be sufficient to satisfy the amount of the
Loss(es) specified in such Notice(s) of Loss, and release for transfer to the
CTI Shareholders their pro rata portion of the remaining balance, if positive.
Upon resolution of all Disputed Unpaid Losses, the Escrow Agent shall release
to the CTI Shareholders their pro rata portion of the balance, if any, of the
Escrow Fund.

         4.       Valuation of Escrow Fund; Release of Contingent Shares.

                  (a) For purposes of this Agreement, including, without
limitation, the satisfaction of any claims pursuant to Section 2 hereof, the
value of each share of WAXS Common Stock constituting a part of the Escrow Fund
shall equal $20.38.

                  (b) The Contingent Shares, if any, that are delivered to the
Escrow Agent pursuant to Section 1(b) hereof shall not constitute a part of the
Escrow Fund. Each Contingent Share shall be released at such time as, and to
the party entitled to receive, the underlying share of WAXS Common Stock with
respect to which such Contingent Share was issued pursuant to the Merger
Agreement is released pursuant to Section 3.

         5.       Voting Rights; Dividends. The CTI Shareholders shall be the
holders of record with full voting rights to both the shares of WAXS Common
Stock as well as the Contingent Shares, if any, described in Section 1(b)
hereof and held by the Escrow Agent hereunder and which are not part of the
Escrow Fund. The CTI Shareholders shall be entitled to exercise such voting
rights until such time, if any, as such shares of WAXS Common Stock are
forfeited to WAXS in payment of a Loss pursuant to Section 2 hereof. The Escrow
Agent shall deliver to the CTI Shareholders such proxies or other documents as
may be necessary to enable the CTI Shareholders to exercise such voting rights.
Further, the CTI Shareholders shall be entitled to promptly receive any
distribution with respect to the shares of WAXS Common Stock and Contingent
Shares including, without limitation, any distribution which constitutes a
"dividend" within the meaning of Section 316 of the Code. Any such
distributions paid with respect to such shares shall be distributed by the
Escrow Agent to the CTI Shareholders as the holders of record of such shares.

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         6.       Rights and Obligations of the Escrow Agent.

                  (a) In performing any of its duties under this Agreement, or
upon the claimed failure to perform its duties hereunder, the Escrow Agent
shall not be liable to anyone for any damages, losses, or expenses which they
may incur as a result of the Escrow Agent so acting, or failing to act;
provided, however, that the Escrow Agent shall be liable for damages arising
out of its willful misconduct or gross negligence under this Agreement.
Accordingly, the Escrow Agent shall not incur any such liability with respect
to (i) any action taken or omitted to be taken in good faith upon advice of its
counsel given with respect to any questions relating to the duties and
responsibilities of the Escrow Agent hereunder, or (ii) any action taken or
omitted to be taken in reliance upon any document, including any written notice
or instructions provided for in this Agreement, not only as to such document's
due execution and to the validity and effectiveness of its provisions, but also
as to the truth and accuracy of any information contained therein, which the
Escrow Agent shall in good faith believe to be genuine, to have been signed or
presented by a proper person or persons, and to conform with the provisions of
this Agreement.

                  (b) The Escrow Agent shall be bound only by the terms of this
Agreement and shall not be bound by or incur any liability with respect to the
Merger Agreement or any other agreement or understanding between WAXS and the
Shareholder Representative to which the Escrow Agent is not a party. The Escrow
Agent shall not have any duties hereunder except those specifically set forth
herein.

                  (c) In case any property deposited under this Agreement shall
be attached, garnished or levied upon or pursuant to any order of court, or the
delivery thereof shall be stayed or enjoined by an order or court, or any other
order, judgment or decree shall be made or entered by any court affecting such
property, or any part thereof, or any act of the Escrow Agent, the Escrow Agent
is hereby expressly authorized to obey and comply with all final writs, orders,
judgments, or decrees so entered or issued by any court without the necessity
of inquiry whether such court had jurisdiction; and, if the Escrow Agent obeys
or complies with any such writ, order, judgment, or decree, it shall not be
liable to any of the parties hereto or to any other person, firm, or
corporation by reason of such compliance.

         7.       Fees of Escrow Agent. The Escrow Agent shall be entitled to
reasonable fees for its services hereunder in an amount set forth on Schedule 2
hereto, which fees shall be paid by WAXS.

         8.       Removal or Resignation of Escrow Agent.

                  (a) WAXS and the Shareholder Representative, acting jointly,
shall have the right, upon written notice to the Escrow Agent, to remove the
Escrow Agent and appoint a successor. Upon acceptance of the duties of Escrow
Agent hereunder, a successor escrow agent shall be entitled to all of the
rights and powers as if originally named herein.

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                  (b) The Escrow Agent may resign at any time by delivering
written notice of such resignation to WAXS and the Shareholder Representative,
in which event WAXS and the Shareholder Representative shall designate a
successor escrow agent. Upon appointment of a successor escrow agent by the
parties, and delivery of any cash held by the Escrow Agent to such successor,
the Escrow Agent shall be discharged from all further duties and liabilities
under this Agreement.

                  (c) If upon the effective date of any such removal or
resignation, no successor escrow agent shall have been designated, the Escrow
Agent shall have the right to tender into the registry or custody of any court
of competent jurisdiction any part or all of the Escrow Fund; provided,
however, that the Escrow Agent shall be entitled to its compensation earned
prior thereto and the provisions of Section 7 hereof shall survive any such
removal, resignation or tender.

         9.       Termination. This Agreement shall terminate on the first to
occur of (i) the later of (a) ten (10) days after the first (1st) anniversary
of the Closing Date, (b) the satisfaction of all claims pending on the first
(1st) anniversary of the Closing Date and (c) the disbursement of the entire
Escrow Fund in accordance with the terms hereof or (ii) a mutual consent signed
by WAXS and the Shareholder Representative.

         10.      Notices and Instructions. All notices and other communications
given or made pursuant hereto must be in writing and will be deemed to have
been duly given or made if delivered personally or sent by registered or
certified mail (postage prepaid, return receipt requested) or by facsimile to
the parties at the following addresses:

                  (a)      If to the Shareholder Representative:

                                    Post Office Box 7051
                                    Rancho Santa Fe, California 92067
                                    Facsimile No.:
                                    Telephone No.:

                           With a copy to:

                                    O'Melveny & Myers LLP
                                    610 Newport Center Drive
                                    Newport Beach, California 92660
                                    Attention:  David A. Krinsky, Esq.
                                    Facsimile No.: (949) 823-6994
                                    Telephone No.: (949) 823-7172

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                  (b)      If to WAXS:

                                    World Access, Inc.
                                    Resurgens Plaza, Suite 2210
                                    945 E. Paces Ferry Road
                                    Atlanta, GA 30326
                                    Attention: W. Tod Chmar
                                    Facsimile No.: (404) 233-2280
                                    Telephone No.: (404) 261-6190

                           With a copy to:

                                    Long Aldridge & Norman LLP
                                    Suite 5300
                                    303 Peachtree Street
                                    Atlanta, Georgia 30308
                                    Attention: H. Franklin Layson, Esq.
                                    Facsimile No.: (404) 527-4198
                                    Telephone No.: (404) 527-4052

                  (c)      If to the Escrow Agent:

                                    --------------------------------
                                    --------------------------------
                                    Attention:
                                              ----------------------
                                    Facsimile No.:
                                                  ------------------
                                    Telephone No.:
                                                  ------------------

or to such other persons or at such other addresses as furnished by either
party by like notice to the other, and such notice or communication will be
deemed to have been given or made as of the date so delivered.

         11.      Entire Agreement; Amendment. This Agreement and the Merger
Agreement contain the entire agreement of the parties with regard to the
matters set forth herein and this Agreement may not be amended or modified
except in writing signed by the parties hereto.

         12.      Governing Law. This Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware
and the escrow shall be administered at the offices of the Escrow Agent.

                                       6
<PAGE>   7

         13.      Successors and Assigns. This Agreement shall be binding upon
and inure to the benefit of the parties hereto and their successors and
assigns. This Agreement shall not be assignable by any of the parties hereto
without the prior written consent of the other parties, except that the Escrow
Agent may be changed in accordance with the provisions of Section 8 hereof.

         14.      Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original and all of which taken
together shall constitute but a single instrument.

                     [SIGNATURES APPEAR ON FOLLOWING PAGE]

                                       7
<PAGE>   8

         IN WITNESS WHEREOF, this Agreement has been duly executed as of the
day and year first above written.

                                    "BUYER":

                                    WORLD ACCESS, INC.

                                    By:
                                        -----------------------
                                        Name:
                                        Title:

                                    "ESCROW AGENT":

                                    By:
                                        -----------------------
                                        Name:
                                        Title:

                                    "SHAREHOLDER REPRESENTATIVE":

                                    -----------------------------
                                          Edward S. Soren

<PAGE>   9

                                   SCHEDULE 1

                                CTI SHAREHOLDERS

<TABLE>
<CAPTION>

                                                            Percentage of CTI
                                                            Capital Stock
Name                              Address                   Held by Shareholder
----                              -------                   -------------------
<S>                               <C>                       <C>

</TABLE>

<PAGE>   10

                                   SCHEDULE 2

                                SCHEDULE OF FEES

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]