Document:

Exhibit 10.63

 EXHIBIT 10.63 
  
 EXECUTION COPY 
  
 WAIVER NO. 11 
 TO THE AMENDED AND
RESTATED DIP CREDIT AGREEMENT 
  
 WAIVER NO. 11 dated as of
April 7, 2004 (this “Waiver No. 11”) to the Credit Agreement (as defined below) among WORLDCOM, INC., a debtor and debtor-in-possession in a case pending under chapter 11 of the Bankruptcy Code, as borrower (the
“Borrower”), each of the Guarantors party to the Credit Agreement, each a debtor and debtor-in-possession in a case pending under chapter 11 of the Bankruptcy Code, as guarantors (the “Guarantors”),
each of the Lenders (as defined in the Credit Agreement) party hereto, and CITICORP USA, INC., as administrative agent (the “Administrative Agent”). Capitalized terms defined in the Credit Agreement and not otherwise defined
herein being used herein as therein defined. 
  
 PRELIMINARY
STATEMENTS: 
  
 (1) The Borrower, the Lenders and the
Administrative Agent are parties to that certain Amended and Restated Senior Secured Superpriority Debtor-In-Possession Credit Agreement dated as of October 15, 2002, amended by Amendment No. 1 dated as of October 30, 2002, modified by Waiver No. 2
dated as of December 30, 2002, amended by Amendment No. 3 dated January 31, 2003, amended by Amendment No. 4 dated March 24, 2003, modified by Waiver No. 5 dated June 10, 2003, amended and otherwise modified by Amendment, Waiver and Consent No. 6
dated as of August 22, 2003, amended by Amendment No. 7 dated as of October 24, 2003, modified by Waiver No. 8 dated as of December 16, 2003, modified by Waiver No. 11 dated as of February 12, 2004 and amended by Amendment No. 10 dated as of March
22, 2004 (and as otherwise amended or modified through the date hereof, the “Credit Agreement”) among the Borrower, the Guarantors, the Lender Parties party thereto, the Administrative Agent, Citibank, N.A., as Initial L/C
Issuer, J.P. Morgan Securities Inc., as Syndication Agent, Joint Lead Arranger and Joint Bookrunner, Salomon Smith Barney Inc. as Joint Lead Arranger and Joint Bookrunner, General Electric Capital Corporation, as Documentation Agent and Collateral
Monitoring Agent for the Lender Parties and the other Secured Parties, GECC Capital Markets Group, Inc., as Joint Lead Arranger, and The CIT Group/Business Credit, Inc. and Foothill Capital Corporation, as co-documentation agents. 
  
 (2) The Company has requested that the requirements of each of Section
5.03(b), (e) and (o) and Section 5.04 of the Credit Agreement be waived solely for the period (the “Waiver Period”) commencing on the date of this Waiver No. 11 through April 30, 2004; and 
  
 (3) The undersigned Lenders and Administrative Agent are willing to so waive
certain provisions of the Credit Agreement on the terms and conditions of this Waiver No. 11; 
  
 NOW, THEREFORE, it is hereby agreed as follows: 
  
 SECTION 1. Waiver. Effective as of the Waiver Effective Date (as defined below), the requirements of each of Section 5.03(b), (e) and (o) and Section 5.04 of the Credit Agreement are hereby waived solely for
the Waiver Period. 
  
 SECTION 2. Effectiveness. This
Waiver No. 11 shall become effective as of the date first above written (the “Waiver Effective Date”) upon the receipt by the Administrative Agent of the following: (a) counterparts of this Waiver No. 11 executed by the
Borrower, the Guarantors and the Required Lenders (or, as to any of the Required Lenders, advice satisfactory to the Administrative Agent that such Lender has executed this Waiver No. 11) and acknowledged by the Administrative Agent and (b) payment
for all fees, costs and expenses of the Administrative Agent and the Initial Lenders which have been invoiced to the Borrower and are due and payable (including, without limitation, any fees, costs and expenses due and payable pursuant to Section 4
below) as of date of the Borrower’s execution hereof. 

 SECTION 3. Effect on Credit Agreement. On and after the effectiveness of this Waiver No. 11, each
reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in each other Loan Document to “the Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as modified by this Waiver No. 11. The Credit Agreement, as specifically modified by this
Waiver No. 11, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this Waiver No. 11 shall not, except as expressly provided herein, operate as a
waiver of any right, power or remedy of any Lender Party or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
  
 SECTION 4. Payment of Fees. The Borrower agrees to pay on demand all
reasonable costs and expenses of the Administrative Agent and the Initial Lenders in connection with the preparation, execution and delivery of this Waiver No. 11 (including, without limitation, the reasonable fees and expenses of one joint outside
counsel for the Administrative Agent and the Initial Lenders) in accordance with the terms of Section 10.04 of the Credit Agreement. 
  
 SECTION 5. Execution in Counterparts. This Waiver No. 11 may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Waiver No. 11 by telecopier
shall be effective as delivery of a manually executed counterpart of this Waiver No. 11. 
  
 SECTION 6. Governing Law. This Waiver No. 11 shall be governed by, and construed in accordance with, the laws of the State of New York. 
  

 2 

 IN WITNESS WHEREOF, the undersigned have each caused this Waiver No. 11 to be executed and delivered by
their respective duly authorized officer as of the date first above written. 
  

			
	The Borrower
	
	WORLDCOM, INC., a debtor and a debtor-in-possession, as Borrower
		
	 By
	 	 /s/    A. William Hamill

	 	 	Name:    A. William Hamill
	 	 	Title:      SVP and Treasurer

  

 3 

 The Guarantors 
  
 Access Network Services, Inc. 
 Access Virginia, Inc. 
 ALD Communications, Inc. 
 BFC Communications, Inc. 
 Bittel Telecommunications Corporation 
 Brooks Fiber Communications of Arkansas, Inc.

 Brooks Fiber Communications of Bakersfield, Inc. 
 Brooks Fiber Communications of Connecticut, Inc. 
 Brooks Fiber Communications of Fresno, Inc. 
 Brooks Fiber Communications of Massachusetts, Inc. 
 Brooks Fiber Communications of Michigan, Inc. 
 Brooks Fiber Communications of Minnesota, Inc. 
 Brooks Fiber Communications of Mississippi, Inc. 
 Brooks Fiber Communications of Missouri, Inc. 
 Brooks Fiber Communications of Nevada, Inc. 
 Brooks Fiber Communications of New England, Inc. 
 Brooks Fiber Communications of New Mexico, Inc. 
 Brooks Fiber Communications of New York, Inc. 
 Brooks Fiber Communications of Ohio, Inc. 
 Brooks Fiber Communications of Oklahoma, Inc. 
 Brooks Fiber Communications of Rhode Island,
Inc. 
 Brooks Fiber Communications of Sacramento, Inc. 
 Brooks Fiber Communications of San Jose, Inc. 
 Brooks Fiber Communications of Stockton, Inc. 
 Brooks Fiber Communications of Tennessee, Inc. 
 Brooks Fiber Communications of Texas, Inc. 
 Brooks Fiber Communications of Tucson, Inc. 
 Brooks Fiber Communications of Tulsa, Inc.

 Brooks Fiber Communications of Utah, Inc. 
 Brooks Fiber Communications-LD, Inc. 
 Brooks Fiber Properties, Inc. 
 BTC Transportation Corporation 
 Business Internet, Inc. 
 Chicago Fiber Optic Corporation 
 Com Systems, Inc. 
 COM/NAV Realty Corp. 
 Cross Country Wireless, Inc. 
  

					
	each a debtor and a debtor-in-possession, and each a Guarantor
		
	 By
	 	  

	 	 	Name:	 	 
	 	 	Title:	 	Authorized Person

  

 4 

 CS Wireless Battle Creek, Inc. 
 CS Wireless Systems, Inc. 
 E.L. Acquisition, Inc. 
 Express Communications, Inc. 
 FiberNet Rochester, Inc. 
 Fibernet, Inc. 
 Healan Communications, Inc. 
 ICI Capital LLC 
 Intelligent Investment Partners, Inc. 
 Intermedia Capital, Inc. 
 Intermedia Communications Inc. 
 Intermedia Communications of Virginia, Inc. 
 Intermedia Investment, Inc. 
 Intermedia Licensing Company 
 Intermedia Services LLC 
 Jones Lightwave of Denver, Inc. 
 Marconi Telegraph Cable Company, Inc. 
 MCI Canada, Inc. 
 MCI Communications Corporation 
 MCI Equipment Acquisition Corporation 
 MCI Galaxy III Transponder Leasing, Inc. 
 MCI Global Access Corporation 
 MCI Global Support Corporation 
 MCI International Services, L.L.C. 
 MCI International Telecommunications Holding
Corporation 
 MCI International Telecommunications Corporation 
 MCI International, Inc. 
 MCI Investments Holdings, Inc. 
 MCI Network Technologies, Inc. 
 MCI Omega Properties, Inc. 
 MCI Payroll Services, LLC 
 MCI Research, Inc. 
 MCI Transcon Corporation 
 MCI Wireless, Inc. 
 MCI WORLDCOM Brands, L.L.C. 
 MCI WORLDCOM Brooks Telecom, LLC 
 MCI WORLDCOM Capital Management Corporation 
 MCI WORLDCOM Communications of Virginia, Inc.

 MCI WORLDCOM Communications, Inc. 
  

					
	each a debtor and a debtor-in-possession, and each a Guarantor
		
	 By
	 	  

	 	 	Name:	 	 
	 	 	Title:	 	Authorized Person

  

 5 

 MCI WORLDCOM Financial Management Corporation 
 MCI WORLDCOM Global Networks U.S., Inc. 
 MCI WORLDCOM International, Inc. 
 MCI WorldCom Management Company, Inc. 
 MCI WORLDCOM MFS Telecom, LLC 
 MCI WORLDCOM Network Services of Virginia, Inc. 
 MCI WORLDCOM Network Services, Inc.

 MCI WORLDCOM Synergies Management Company, Inc. 
 MCI/OTI Corporation 
 MCImetro Access Transmission Services of Virginia, Inc. 
 Metrex Corporation 
 Metropolitan Fiber Systems of Arizona, Inc. 
 Metropolitan Fiber Systems of Baltimore, Inc. 
 Metropolitan Fiber Systems of California, Inc. 
 Metropolitan Fiber Systems of Connecticut, Inc. 
 Metropolitan Fiber Systems of Dallas, Inc. 
 Metropolitan Fiber Systems of Delaware, Inc. 
 Metropolitan Fiber Systems of Denver, Inc.

 Metropolitan Fiber Systems of Detroit, Inc. 
 Metropolitan Fiber Systems of Florida, Inc. 
 Metropolitan Fiber Systems of Houston, Inc. 
 Metropolitan Fiber Systems of Indianapolis, Inc. 
 Metropolitan Fiber Systems of Minneapolis/St. Paul, Inc. 
 Metropolitan Fiber Systems of New Hampshire, Inc. 
 Metropolitan Fiber Systems of New Jersey, Inc. 
 Metropolitan Fiber Systems of New Orleans, Inc. 
 Metropolitan Fiber Systems of New York, Inc. 
 Metropolitan Fiber Systems of Ohio, Inc. 
 Metropolitan Fiber Systems of Oregon, Inc. 
 Metropolitan Fiber Systems of Philadelphia,
Inc. 
 Metropolitan Fiber Systems of Pittsburgh, Inc. 
 Metropolitan Fiber Systems of Seattle, Inc. 
 Metropolitan Fiber Systems of St. Louis, Inc. 
 Metropolitan Fiber Systems/McCourt, Inc. 
 MFS CableCo U.S., Inc. 
 MFS Datanet, Inc. 
 MFS Telecom, Inc. 
 MFS Telephone of Missouri, Inc. 
  

					
	each a debtor and a debtor-in-possession, and each a Guarantor
		
	 By
	 	  

	 	 	Name:	 	 
	 	 	Title:	 	Authorized Person

  

 6 

 MFS Telephone of New Hampshire, Inc. 
 MFS Telephone of Virginia, Inc. 
 MFS Telephone, Inc. 
 MFS/C-TEC 
 MFSA Holding, Inc. 
 Military Communications Center, Inc. 
 MobileComm Europe Inc. 
 Mtel Asia, Inc. 
 Mtel Cellular, Inc. 
 Mtel International, Inc. 
 Mtel Latin America, Inc. 
 Mtel Microwave, Inc. 
 Mtel Service Corporation 
 N.C.S. Equipment Corporation 
 National Telecommunications of Florida, Inc. 
 Netwave Systems, Inc. 
 networkMCI, Inc. 
 Northeast Networks, Inc. 
 Nova Cellular Co. 
 NTC, Inc. 
 Overseas Telecommunications, Inc. 
 Shared Technologies Fairchild Communications Corporation 
 Shared Technologies Fairchild Telecom, Inc. 
 Shared Technologies Fairchild, Inc. 
 SkyTel Communications, Inc. 
 SkyTel Corp. 
 SkyTel Payroll Services, LLC 
 Southernnet of South Carolina, Inc. 
 Southernnet Systems, Inc. 
 Southernnet, Inc. 
 Telecom*USA, Inc. 
 Teleconnect Company 
 Teleconnect Long Distance Services & Systems Co. 
 Tenant Network Services, Inc. 
 TransCall America, Inc. 
 Tru Vision Wireless, Inc. 
 Tru Vision-Flippin, Inc. 
 TTI National, Inc. 
  

					
	each a debtor and a debtor-in-possession, and each a Guarantor
		
	 By
	 	  

	 	 	Name:	 	 
	 	 	Title:	 	Authorized Person

  

 7 

 UUNET Australia Limited 
 UUNET Caribbean, Inc. 
 UUNET Holdings Corp. 
 UUNET International Ltd. 
 UUNET Japan Ltd. 
 UUNET Payroll Services, LLC 
 UUNET Technologies, Inc. 
 Virginia Metrotel, Inc. 
 Wireless One, Inc. 
 Wireless Video Services 
 WorldCom Broadband Solutions, Inc. 
 WorldCom Caribbean, Inc. 
 WorldCom East, Inc. 
 WorldCom ETC, Inc. 
 WorldCom Federal Systems, Inc. 
 WorldCom ICC, Inc. 
 WorldCom International Data Services, Inc. 
 WorldCom International, Inc. 
 WorldCom International Mobile Services, Inc. 
 WorldCom International Mobile Services LLC 
 WorldCom Overseas Holdings, Inc. 
 WorldCom Payroll Services, LLC 
 WorldCom Purchasing, LLC 
 WorldCom Ventures, Inc. 
 WorldCom Wireless, Inc. 
  

					
	each a debtor and a debtor-in-possession, and each a Guarantor
		
	 By
	 	  

	 	 	Name:	 	 
	 	 	Title:	 	Authorized Person

  

 8 

			
	 The Administrative Agent

	
	 CITICORP USA, INC., as Administrative Agent

		
	 By
	 	

	 	 	Name:
	 	 	Title:
	
	 The Initial Lenders

	
	 CITICORP USA, INC., as Initial Lender

		
	 By
	 	

	 	 	Name:
	 	 	Title:
	
	 JPMORGAN CHASE BANK, as Initial Lender

		
	 By
	 	

	 	 	Name:
	 	 	Title:
	
	GENERAL ELECTRIC CAPITAL CORPORATION, as Initial Lender
		
	 By
	 	

	 	 	Name:
	 	 	Title
	
	 The Lenders

	
	THE CIT GROUP/BUSINESS CREDIT, INC., as Lender
		
	 By
	 	  

	 	 	Name:
	 	 	Title:
	
	 FOOTHILL CAPITAL CORPORATION, as Lender

		
	 By
	 	  

	 	 	Name:
	 	 	Title:
	
	 BANK OF AMERICA, N.A., as Lender

		
	 By
	 	  

	 	 	Name:
	 	 	Title:

  

 9 

			
	The Lenders (continued)
	
	BAYERISCHE HYPO-UND VEREINSBANK, AG - NEW YORK BRANCH, as Lender
		
	 By
	 	  

	 	 	Name:
	 	 	Title:
		
	 By
	 	  

	 	 	Name:
	 	 	Title:
	
	 FRANKLIN FLOATING RATE TRUST, as Lender

		
	 By
	 	  

	 	 	Name:
	 	 	Title:
	
	SUMITOMO MITSUI BANKING CORPORATION, as Lender
		
	 By
	 	  

	 	 	Name:
	 	 	Title:
	
	MERRILL LYNCH CAPITAL, a division of Merrill Lynch Business Financial Services, Inc.
		
	 By
	 	  

	 	 	Name:
	 	 	Title:

  

 10Exhibit 10.64

 EXHIBIT 10.64 
  
 MCI, INC. 
  
 2003 EMPLOYEE STOCK PURCHASE PLAN 

 MCI, INC. 
 2003 EMPLOYEE STOCK PURCHASE PLAN 
  
 ARTICLE I    PURPOSE AND DEFINITIONS 
  
 1.01 Purpose. The MCI, Inc. 2003 Employee Stock Purchase Plan, as amended from time to time (“Stock Purchase Plan”), is intended to attract and retain employees of MCI, Inc.
(“Company”) and certain subsidiaries by providing them with an opportunity to purchase ordinary shares of stock the Company. The Stock Purchase Plan is intended to qualify as an employee stock purchase under Section 423 of the
United States Internal Revenue Code of 1986, as amended (“US Tax Code”), but is not intended to be subject to the Employee Retirement Income Security Act of 1974, as amended. 
  
 1.02 Effective Date. The Stock Purchase Plan shall be effective as of
the later of (i) the date that all conditions to the plan of reorganization with respect to the Company have been satisfied or (ii) the bankruptcy court has approved the Stock Purchase Plan. 
  
 1.03 Definitions. A term defined in the Stock Purchase Plan shall have
the meaning ascribed to it wherever it is used herein unless the context indicates otherwise. 
  
 ARTICLE II    PARTICIPATION 
  
 2.01 Adoption by Subsidiaries. The Company’s Board of Directors may authorize the adoption of the Stock Purchase Plan by one or more subsidiary corporations of the Company (“Participating
Subsidiaries”), including subsidiaries in nations other than the United States. 
  
 2.02 Eligibility to Participate. You are eligible to participate in an Offering under the Stock Purchase Plan if, as of the first day of such Offering, (i) you are an employee of the Company or a Participating
Subsidiary, and (ii) you are scheduled to work more than five (5) months per year and at least twenty (20) hours per week for the Company and its Participating Subsidiaries (as determined by reference to the Company’s employment records), and
(iii) you have been employed by the Company or a Participating Subsidiary for a required period (not exceeding two years) as the Committee may determine, in its absolute discretion. 
  
 2.03 Participation Agreement. Participation in the Stock Purchase Plan is voluntary with respect to each Offering. To
participate in an Offering, you must be eligible and must complete prior to the commencement of the applicable Offering Period an enrollment form provided by the Company (“Participation Agreement”) authorizing payroll deductions
from your paycheck. Your Participation Agreement will remain in effect through each consecutive Offering unless you choose to revise or revoke it, or you become ineligible to participate in the Stock Purchase Plan. 
  
 2.04 Termination of Your Participation. You may withdraw at any time
from any Offering by written notice to the Committee in such form as it may require. Your participation will also end upon your termination of employment with the Company and its parent and subsidiary corporations or when you become ineligible to
participate (including by reason of the Company or any Participating Subsidiary terminating its participation in the Stock Purchase Plan). 
  
 2.05 Designation of Beneficiary. You shall, by notice to the Committee, designate a person or persons to receive the value of your Account in the
event of your death. You may, by notice to the Committee during employment, alter or revoke such designation, subject always to any applicable law. Such notice shall be in such form and shall be executed in such manner as the Committee may
determine. If upon your death you have not designated a beneficiary under the Stock Purchase Plan or such beneficiary does not survive you, the value of your Account shall be paid to your estate. 
  
  

 2 

 ARTICLE III    CONTRIBUTIONS 
  
 3.01 Payroll Deductions. You may accumulate savings to purchase Ordinary Shares of Company stock
(“Shares”) in an Offering by authorizing payroll deductions pursuant to a Participation Agreement executed by you prior to the Offering Period, subject to such minimum and maximum limits (expressed in dollars or as a percentage of
base salary or base wages) as the Committee may impose. Such savings shall be credited to your Account with respect to the Offering to which they relate. Payroll deductions for an Offering shall commence with the first paycheck you receive during
such Offering and shall end with the last paycheck you receive during such Offering. Paychecks will be treated as having been received when they are sent out or otherwise distributed. 
  
 3.02 Change in Rate or Suspension of Contributions. You may decrease (and not increase) the rate of your payroll
deductions one (1) time during an Offering by notice to the Committee in such form and manner as it requires. In addition, you may, at any time during an Offering, suspend your payroll deductions by notice to the Committee in such form and manner as
it requires. Such change shall be effective as of the first pay period thereafter by which the Company is able to process the change. 
  
 3.03 Possession of Contributions. All payroll deductions made pursuant to the Stock Purchase Plan shall be held for your benefit and on your behalf
by the Company or any custodian selected by the Committee. Such payroll deductions shall constitute your property notwithstanding that they may be commingled with the general assets of the Company or such custodian. 
  
 ARTICLE IV    OPTIONS TO ACQUIRE SHARES 
  
 4.01 Maximum Number of Shares. The total number of Shares in respect
of which options may be granted under the Stock Purchase Plan shall not, when aggregated with the number of Shares issued pursuant to options granted, or capable of issue pursuant to options granted, under the Stock Purchase Plan exceed 2,200,000
shares.1 
  
 For the purpose of the limits contained in this Section 4.01: 
  
 (a) the number of Shares, if any, issued prior to the time at which such limits are applied shall be adjusted in such manner as the
Committee shall consider to be appropriate (subject to confirmation in writing by the Company’s auditors that such adjustment is in their opinion fair and reasonable) in the event of an Issue or Reorganization taking place after the issue of
the Shares in question and prior to the time at which such limits are applied. “Issue or Reorganization” shall mean any variation in the share capital of the Company (or any other company whose shares are shares subject to the Stock
Purchase Plan) arising from or in connection with a capitalization issue or an offer to the holders of Shares by way of rights or a subdivision, consolidation, reduction or other variation of share capital or implementation by the Company or a
demerger which would materially affect the value of an option; 
  
 (b) Shares under any option which has been released, cancelled or lapsed without being exercised shall be ignored; 
  
 (c) “year” shall mean each fiscal period of twelve months of the Company. If any fiscal period of the Company is
materially longer or shorter than 12 months the limits shall be applied with appropriate adjustments; and 
  
 (d) nothing which takes place after the grant of an option shall require that option to be treated as in breach of this Section
4.01. 
  
 4.02 Offerings. The Company may offer Shares for
purchase under the Stock Purchase Plan (“Offering”) for six-month periods beginning on January 1 and July 1 of each calendar year, commencing on January 1, 2004 or such other date as the Committee may determine in its absolute
discretion. The Company may make alternative Offerings for different periods, provided that no Offering shall extend for more than 27 months. 
  

	1	The number of shares is intended to aggregate $55 million based on a stock price of $25 per share. 

  

 3 

 4.03 Options. Each Offering shall constitute an option to purchase whole Shares at a price per
Share equal to 85% of the lesser of (i) the fair market value of a Share on the first day of such Offering or (ii) the fair market value of a Share on the last day of such Offering. The fair market value of a Share on any date shall be its closing
price reported by the principal stock exchange on which Shares are traded for such date or for the next earliest date on which Shares were traded. 
  
 4.04 Individual Limit on Options. In no event shall the fair market value (measured on the applicable date of grant) of Shares subject to options
under the Stock Purchase Plan (and shares of the Company, any parent or subsidiary company subject to options under any other Stock Purchase Plans qualifying under Section 423 of the US Tax Code) during any calendar year exceed, in the aggregate,
$25,000 in the aggregate for any individual. 
  
 4.05 Purchase
of Shares. Unless you have withdrawn or become ineligible prior to the end of an Offering, your accumulated savings shall be automatically applied on the last day of the Offering to purchase whole Shares to the extent feasible in accordance with
the Offering. Such purchase shall be treated as the exercise of an option represented by the Offering. Any amount remaining in your Account after such purchase shall be applied to the next Offering. You are not entitled or permitted to make cash
payments in lieu of payroll deductions to acquire Shares in an Offering. In no event shall any Shares be purchased pursuant to an Offering more than 27 months after the commencement of the Offering. 
  
 4.06 Source of Shares. Shares offered under the Stock Purchase Plan
may be authorized and issued Shares purchased in open market transactions by a Broker pursuant to directions from the Committee and at the market price prevailing on the applicable exchange. 
  
 4.07 Restriction on 5% Owners. No employee shall be permitted to
purchase Shares under the Stock Purchase Plan if, immediately after such purchase, such employee would possess stock having five percent (5%) or more of the total combined voting power of all classes of stock of the Company or any of its parent or
subsidiary corporations, determined by applying the stock ownership rules of Section 424(d) of the US Tax Code. 
  
 4.08 Prohibition Against Assignment. Your right to purchase Shares under the Stock Purchase Plan are exercisable only by you and may not be sold,
pledged, assigned, surrendered or transferred in any manner other than by will or the laws of descent and distribution. Any attempt to sell, pledge, assign, surrender or transfer such rights shall be void and shall automatically cause any purchase
rights held by you to be terminated. In such event, the Committee may refund in cash, without interest, all contributions credited to your Account 
  
 ARTICLE V    ACCOUNTS 
  
 5.01 Establishment of Accounts. The Committee shall cause to be maintained a separate account for each participant (“Account”) to
record the amount of payroll deductions with respect to each Offering, and the purchase price for and the number of Shares, credited to such participant. No interest or other earnings shall be credited to any contributions under the Stock Purchase
Plan. 
  
 5.02 Custody of Shares. The Committee shall
select a broker (“Broker”) which shall hold and act as custodian of Shares purchased pursuant to the Stock Purchase Plan. Absent instructions to the contrary from a participant, certificates for Shares purchased will not be issued
by the Broker to a participant. 
  
 5.03 Voting of Shares.
You may direct the Broker as to how to vote the full Shares credited to your Account. 
  
 ARTICLE VI    DISBURSEMENTS FROM ACCOUNT 
  
 6.01 Withdrawal of Contributions. Upon your withdrawal from any Offering, all or any designated portion of the contributions credited to your Account with respect to such Offering shall be disbursed, without
interest, to you. 
  

 4 

 6.02 Withdrawal of Shares. You may at any time withdraw all or any number of whole Shares credited
to your Account under the Stock Purchase Plan by directing the Broker to cause your Shares to be (i) issued as certificates in your name (subject to the charges described in Paragraph 7.03 of the Stock Purchase Plan) or (ii) sold and the net
proceeds (less applicable commissions and other charges) distributed in cash to you. You may also direct the Broker to cause Shares to be transferred to another brokerage account of yours, provided the Shares are held by you for at least two (2)
years following the first day of the Offering pursuant to which the Shares were acquired or such other period as the Committee may determine in its sole discretion. 
  
 6.03 Distribution Upon Termination. Upon termination of your participation in the Stock Purchase Plan as a whole
prior to the expiration of all Offerings thereunder, all contributions and Shares credited to your Account shall be disbursed to and as directed by you in accordance with the Stock Purchase Plan. All contributions credited to your Account that have
not been applied to the purchase of Shares shall be returned to you without interest, unless such termination coincides with the expiration of an Offering and Shares are purchased accordingly. Shares credited to your Account shall, in accordance
with instructions to the Broker from you and at your expense, be distributed in the same manner as permitted upon any withdrawal. 
  
 6.04 Failure to Provide Directions. If within ninety (90) days after you have withdrawn from the Stock Purchase Plan you have not notified the
Broker of your instructions as set forth herein, the Committee shall direct the Broker to issue Shares in your name and deliver the same to you at your last known address. 
  
 6.05 Sale of Shares. If you elect to receive the proceeds from the sale of your Shares, the amount payable shall be
determined by the Broker based upon the last reported bid price on the proceeds of the sale of your Shares at the last price quoted on the principal stock exchange on which such shares are traded, less any applicable commissions, fees and charges.
The Broker, acting on your behalf, shall take such action as soon as practicable, but in no event later than five (5) business days after receipt of notification from you. The Company assumes no responsibility in connection with such transactions,
and all commissions, fees or other charges arising in connection therewith shall be borne directly by you. The amount thus determined shall be paid in a lump sum to you. 
  
 6.06 Unpaid Leave of Absence. Unless you withdraw from the Stock Purchase Plan, Shares will be purchased with
contributions to your Account on the last day of the Offering following the commencement of an unpaid leave of absence, unless your employment terminates prior to that time. The number of Shares purchased will be determined by applying the amount of
your contributions prior to such leave of absence. Upon your return to work following an unpaid leave of absence, payroll deductions shall resume at the rate in effect at the commencement of the leave of absence. 
  
 ARTICLE VII    ADMINISTRATION AND EXPENSES 
  
 7.01 Committee. The Stock Purchase Plan shall be administered by the
Committee, which shall consist of such members as determined by the Company. The Committee shall interpret and apply the provisions of the Stock Purchase Plan in its good faith discretion, and the Committee’s decision is final and binding. The
Committee may establish rules for the administration of the Stock Purchase Plan. 
  
 7.02 Expenses for Purchase of Shares. The Company shall pay brokerage commissions, fees and other charges, if any, incurred for purchases of Shares with payroll deductions made under the Stock Purchase Plan.

  
 7.03 Expenses to Sell or Transfer Shares. All brokerage
commissions, fees or other charges in connection with any sale or other transfer of your Shares shall be paid by you. In addition, any charges by the Broker in connection with your request to have certificates representing Shares registered in your
name shall be paid by you. 
  
 7.04 Post-Termination
Expenses. Upon your termination of employment or your withdrawal from the Stock Purchase Plan for any other reason, all commissions, fees and other charges thereafter relating to your Account will be your responsibility. 
  

 5 

 ARTICLE VIII    MERGERS AND OTHER SHARE ADJUSTMENTS 
  
 8.01 Mergers or Other Consolidations. In the event that the Company
is a party to a sale of substantially all of its assets, or a merger or consolidation, outstanding options to purchase Shares under the Stock Purchase Plan shall be subject to the agreement of sale, merger consolidation. Such agreement, without the
consent of any participant, may provide for: 
  
 (a) the continuation of such outstanding options by the Company (if the Company is the surviving corporation); 
  
 (b) the assumption of the Stock Purchase Plan and such outstanding options by the surviving corporation or its parent; 
  
 (c) the substitution by the surviving corporation or its
parent of options with substantially the same terms for such outstanding options, including the substitution of shares of common stock of the surviving corporation with such appropriate adjustments so as not to enlarge or diminish the rights of
participants; 
  
 (d) the cancellation of such
outstanding Options without payment of any consideration other than the return of contributions credited to participants’ Accounts, without interest; or 
  

(e) the shortening of the Offering Period and any Offering then in progress by setting a new last day of the Offering (the “New
Purchase Date”). The New Purchase Date shall be before the date of the proposed sale, merger or consolidation. Each participant will be notified in writing that the last day of the Offering has been changed to the New Purchase Date and that
the applicable number of Shares will be purchased automatically on the New Purchase Date, unless prior to such date the participant has withdrawn from the Stock Purchase Plan as provided in Paragraph 6.01 of the Stock Purchase Plan. 
  
 8.02 Adjustments to Shares or Options. In the event of a subdivision
of the outstanding common stock, a declaration of a dividend payable in Shares, a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the fair market value of the Shares, a
combination or consolidation of the outstanding Shares into a lesser number of Shares, a recapitalization, a spin-off, a reclassification or a similar occurrence, the Board of Directors shall make appropriate adjustments so as not to enlarge or
diminish the rights of participants, in one or more of (i) the aggregate number of Shares available for purchase under the Stock Purchase Plan, (ii) the aggregate number of Shares subject to purchase under outstanding options or (iii) the purchase
price per Share under each outstanding option. 
  
 ARTICLE
IX    AMENDMENT AND TERMINATION 
  
 9.01
Authority. The Board of Directors of the Company may at any time terminate or amend the Stock Purchase Plan in any respect, including, but not limited to, terminating the Stock Purchase Plan prior to the end of an Offering Period or reducing
the term of an Offering Period; provided, however, that the aggregate number of Shares subject to purchase under the Stock Purchase Plan shall not be increased without approval of the Company’s shareholders. 
  
 9.02 Termination of the Stock Purchase Plan. The Stock Purchase Plan
and all rights of participants to purchase any Shares hereunder shall terminate at the earlier of the conclusion of the last Offering Period authorized herein, or as otherwise determined by and at the discretion of the Company. 
  
 9.03 Distributions on Stock Purchase Plan Termination. Upon
termination of the Stock Purchase Plan at the end of an Offering Period, Shares shall be issued to participants, and cash, if any, remaining in the Accounts of the participants, shall be refunded to them. Upon termination of the Stock Purchase Plan
prior to the end of an Offering Period, all amounts not previously applied to the purchase of Shares shall be distributed to you, as if the Stock Purchase Plan had terminated at the end of an Offering Period 
  
 9.04 Effect on Broker. No amendments to the Stock Purchase Plan which
affects the responsibilities or duties of the Broker shall be effective without the agreement and approval of the Broker. 
  

 6 

 ARTICLE X MISCELLANEOUS 
  

10.01 Joint Ownership. Shares may be registered in the name of the participant, or, if he or she so designates, in his or her name jointly with
his or her spouse, with a right of survivorship. 
  
 10.02 No
Employment Rights. The Stock Purchase Plan shall not be deemed to constitute a contract of employment between the Company and you, nor shall it interfere with the right of the Company to terminate you and treat you without regard to the effect
which such treatment might have upon you under the Stock Purchase Plan. 
  
 10.03 Tax Withholding. The Company shall withhold from amounts to be paid to you as wages, any applicable Federal, state or local withholding or other taxes which it is from time to time required by law to withhold. 
  
 10.04 Compliance with Laws. The Company, in its discretion, may extend
the period during which participants in any Offering may withdraw from participation in such Offering, postpone the date of the purchase and sale of Shares pursuant to any Offering or direct the Broker to delay the issuance of any certificate
representing Shares in the name of any person or the delivery of Shares to any person if the Company determines that the taking of such action is necessary or desirable to comply with any applicable laws or the listing or other requirements of any
national securities exchange or to obtain the consent or approval of any governmental regulatory body or self-regulatory organization as a condition of, or in connection with, the sale or purchase of Shares under the Plan, until such registration,
qualification, listing, consent or approval shall have been effected or obtained, or otherwise provided for, free of any conditions not acceptable to the Company. 
  
 The Company may endorse on certificates representing Shares purchased under the Stock Purchase Plan with a legend referring
to the foregoing representations or restrictions or any other applicable restrictions on resale as the Company, in its discretion, shall deem appropriate. 
  
 10.05 Governing Law. The Stock Purchase Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware and without
regard to the conflict of laws principles of such state. 
  

			
	MCI, INC.
		
	 By:
	 	  

	Name:	 	 
	Title:	 	 

  

 7

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