Document:

Exhibit 10.5

                           VERMONT PURE HOLDINGS, LTD.
                                   P.O. Box C
                              Randolph, Vermont 05060
                                  802-728-3600
                                Fax: 802-728-4614

                            As of September 12, 1997

Dear Option Holder:

     On  September  12, 1997,  the Board of Directors of Vermont Pure  Holdings,
Ltd.  ("the  Company")  voted to grant you one or more new options (each, a "New
Option") to purchase shares of the Company's  common stock,  $.001 par value per
share (the "Common  Stock"),  at an exercise price of $2.50 per share,  the fair
market  value of the  Common  Stock on the date of grant,  in  exchange  for the
surrender of one or more of your existing options (each, an "Old Option").  Each
New Option is for at least as many shares as were  covered by the  corresponding
Old Option;  most New Options  are for more  shares,  as  described  below.  The
purpose  for  this  transaction  was to  ensure  that a  significant  number  of
five-year  options  expiring in 1999 and 2000 are effectively  extended for five
additional years.

     Eligible option holders are those officers,  directors and employees of the
Company who hold stock options  expiring  before  January 1, 2001.  Only options
expiring before that time are covered.  The number of New Options was determined
as follows: Subtract your Old Option exercise price per share from $2.50. If the
answer is zero or less than zero (in other words, your Old Option exercise price
is equal to or greater  than $2.50 per  share),  your New Option will be for the
same  number of shares as your Old  Option.  If the answer is greater  than zero
(your Old Option  exercise  price per share is less than  $2.50),  multiply  the
number of shares  subject to the Old Option by the  difference in price,  divide
that amount by $2.50,  and add the  resulting  number of shares to the number of
shares previously covered by the Old Option.  Information about your Old Options
is at the end of this letter.

<PAGE>

     If your Old Option was granted  under a stock  option plan of the  Company,
your New Option is likewise  granted under a plan. If and to the extent that you
are eligible under the tax laws for an incentive stock option (available only to
employees),  your New Option is structured as an incentive stock option. If your
Old Option was a non-plan option, your New Option is likewise a non-plan option.
You will be  immediately  vested under the New Option in the same  percentage of
shares as you were vested under the Old Option;  the remaining  shares,  if any,
will  continue  to vest under the same  vesting  schedule  as in the Old Option.
Except for the extended term, the option price and, in most cases, the number of
shares,  the other  terms of the New Option are  identical  to the terms of your
surrendered Old Option.

     Information  about your options is set forth below. By signing the enclosed
extra copy of this letter and  returning it to Bruce  MacDonald at the Company's
offices in Randolph,  you are terminating your Old Option(s) listed below.  Your
New  Option(s)  will be sent to you  after we have  received  your  letter.  The
deadline for  receiving  your letter is October 31,  1997.  If you do not return
your letter to us by then, your New Option(s) will be null and void.

         If you have any questions, feel free to contact me or Bruce MacDonald.

                                                      Very truly yours,

                                                      VERMONT PURE SPRINGS, LTD.
                                                      By:  Timothy G. Fallon
                                                           President

ATTACHMENT A - OPTION SCHEDULE

<PAGE>

                         ATTACHMENT A - OPTION SCHEDULE

                              Name of Option Holder

                                 Timothy Fallon

    Number of Shares, Exercise Price and Expiration Date under OLD Option(s)

           Option #1 - 133,332 shares\$2.25 per share\1 December 1999

           Option #2 - 266,668 shares\$2.25 per share\1 December 1999

                                Plan or Non-Plan
                                ----------------

                                Option #1 - Plan

                              Option #2 - Non-Plan

 Number of Shares (at the new Exercise Price of $2.50 per Share) and Expiration
                             Date of NEW Option(s)

           Option #1 - 146,665 shares\$2.50 per share\1 December 2004

           Option #2 - 293,335 shares\$2.50 per share\1 December 2004

                                   Signature

     In  consideration  for the New Option(s)  described above and in the letter
from  Vermont  Pure  Holdings,  Ltd. to me dated as of  September  12, 1997 that
accompanies this Option Schedule, I hereby agree that my Old Option(s) described
above are  terminated as of September 12, 1997 and that I have no further rights
pursuant to the Old Option(s).

                                            Signature:       /s/ Timothy Fallon
                                                       -------------------------
                                            Name:                Timothy Fallon<PAGE>

                                                                   Exhibit 10.14

     DEED OF AMENDMENT TO MANAGEMENT AGREEMENT

     THIS DEED OF AMENDMENT (the "Amendment"), made as of 30 MARCH 2001 by and
                                  ---------
among Infonet Services Corporation, a Delaware corporation ("ICS"), AUCS
                                                             ---
Communications Services v.o.f., a general partnership organized under the laws
of The Netherlands ("AUCS"), and herein represented by AUCS Communications
                     ----
Services N.V., a company organized under the laws of The Netherlands ("AUCS"
                                                                       ----
N.V.", and, together with AUCS and all of their direct and indirect
----
subsidiaries, the "AUCS Entities" and each an "AUCS Entity"), Telia AB, a
                   -------------               -----------
company organized under the laws of Sweden ("Telia"), KPN Telecom B.V., a
                                             -----
company organized under the laws of The Netherlands ("KPN"), Swisscom AG, a
                                                      ---
company organized under the laws of Switzerland ("Swisscom" and, together with
                                                  --------
Telia and KPN, the "Indirect AUCS Stockholders" ), Telia Telecommunications
                    --------------------------
International B.V., a company organized under the laws of The Netherlands
("Telia B.V."), Telki Holding Company B.V., a company organized under the laws
  ----------
of The Netherlands ("Telki B.V."), and Swisscorm Netherlands B.v., a company
                     ----------
organized under the laws of The Netherlands ("Swisscom B.V.", and together with
                                              -------------
Telia B.V. and Telki B.V., the "Acquiring Companies") (each, a "Party" and
                                -------------------             -----
collectively, the "Parties").
                   -------

     WHEREAS, among others, ISC, AUCS N.V., AUCS, the Indirect AUCS
Stockholders, Unisource N.v., Unisource Pan-European Services B.V. ("UPES")
                                                                     ----
and Briap B.V. ("Briap") entered into that certain Management Agreement dated
                 -----
September 30, 1999 (the "Management Agreement");
                         --------------------

     WHEREAS, Unisource N.V. was demerged within the meaning of Sections 2:334a
et seq of the Dutch Civil Code with effect from June 1, 2000, zero hours.
Pursuant to the demerger and from the effective time of the demerger, among
others: (a) Unisource N.V. ceased to exist, and (b) Unisource N.V.'s assets and
liabilities, including its contractual position under the Management Agreement,
was acquired by the Acquiring Companies under the universal title of succession;

     WHEREAS, the Parties desire to amend the Management Agreement by, among
others, deleting the partial loss rebate set for the in Section 5.2(b) of the
Management Agreement;

     WHEREAS, AUCS N.V., executes and delivers this Amendment on behalf of
itself and AUCS;

     WHEREAS, each Acquiring Company executes and delivers this Amendment on
behalf of itself and UPES and Briap;

<PAGE>

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

                                   ARTICLE I.
                                  DEFINITIONS

     Section 1.1   Certain Definitions. In this Amendment, capitalized terms
                   -------------------
used but not defined herein shall have the meaning set forth in the Management
Agreement.

                                  ARTICLE II.
                       AMENDMENT OF MANAGEMENT AGREEMENT

     Section 2.1.1 Restatement. Section 5.2(b) of the Management Agreement shall
                   -----------
be null and void, deleted in its entirety and replaced with the words
"[Intentionally Omitted]".

     Section 2.1.2 Section 5.2(d) of the Management Agreement shall read as
follows:

     "(d) If the Restructuring Costs are below (Euro) 55,000,000 (fifty five
million Euro) ISC will receive an incentive payment which will be calculated as
follows:
(i) for every Euro the Restructuring Costs are below (Euro) 55,000,000 (fifty
five million Euro) but in excess of (Euro) 40,000,000 (forty million Euro), ISC
will receive an incentive payment equal to 25% (twenty five per cent) of the
difference between (Euro) 55,000,000 (fifty five million Euro) and (Euro)
40,000,000 (forty million Euro); (ii) for every Euro the Restructuring Costs are
equal to or below (Euro) 40,000,000 (forty million Euro) but in excess of (Euro)
30,000,000 (thirty million Euro), ISC will receive an incentive payment equal to
50% (fifty per cent) of the difference between (Euro) 40,000,000 (forty million
Euro) and (Euro) 30,000,000 (thirty million Euro); and (iii) for every Euro the
Restructuring costs are equal to or below (Euro) 30,000,000 (thirty million
Euro) ISC will receive an incentive payment equal to the amount that the
Restructuring Costs are less than (Euro) 30,000,000 (thirty million Euro), such
payment to be made by the Acquiring Companies jointly and severally to ISC by
wire transfer of immediately available funds in Euro to an account designated by
ISC in writing within 30 days of the agreement, deemed agreement or
determination by the Accountant of the Closing Date Financial Statements for the
Initial Term in accordance with Section 5.2(c) which shall apply mutatis
mutandis to this Section 5.2(d)."

<PAGE>

     Section 2.1.3 The definition of "AUCS Entities Adjusted EBIDTA Losses" in
the Management Agreement shall read as follows:
"means the negative consolidated net earnings of the AUCS Entities from ordinary
activities (including the AT&T Exit Obligations) before interest income and
expense, taxation, depreciation and amortization for the relevant period as
presented in the Management Accounts or the Consolidated Financial Statements,
including any losses which may arise as a result of any AUCS entity acquiring or
transferring any shares in another entity without the approval of the
Supervisory Board, but excluding the Management Fee, any Restructuring Costs and
any Liquidations Costs".

     Section 2.1.4 The following subsections (n) and (o): shall be added to
Section 12.1:
"(n) any sale or transfer of any service related asset not contemplated in any
agreement to which the Indirect AUCS Stockholders are a party by an AUCS Entity
to Infonet, except when (i) such asset is sold or transferred for the bookvalue
at that time; and (ii) the total bookvalue of the assets transferred in any
given calendar year is less than (Euro) 1,000,000 (one million Euro). For the
purpose of this Section 12.1 (n) service related assets shall be any and all
assets which are either directly or indirectly necessary for the provision of
services to customers, including but not limited to notes and IT equipment;

(o) any acquisition, sale or transfer by an AUCS entity of shares in another
entity."

     Section 2.2   No Other Amendments. Except as set forth in Section 2.1 of
                   -------------------
this Amendment, this Amendment shall not amend the terms of the Management
Agreement.

     Section 2.3   Effective Date. This Amendment shall be effective as of
                   --------------
September 30, 1999.

                                 ARTICLE III.
                                  COVENANTS

     Section 3.1   General Cooperation; Further Assurances. Each Party, at its
                   ---------------------------------------
expense, shall promptly and duly execute and deliver to the other Parties such
further documents and assurances and take such further action as the other
Parties may from time to time reasonably request in writing in order to carry
out more effectively the intent and purpose of this Amendment (including,
without limitation, any applications, documents and reports required by any
governmental authority).
<PAGE>

                                  ARTICLE IV.
                                REPRESENTATIONS

     Section 4.1 AUCS and Indirect AUCS Stockholder and Acquiring Companies
                 ----------------------------------------------------------
Authority. Each of AUCS N.V., the Indirect AUCS Stockholders and the Acquiring
---------
Companies severally represents and warrants to ISC that (i) it has all necessary
authority and power to execute and deliver this Amendment and that (ii) this
Amendment and the Management Agreement as amended by this Amendment constitutes
the legal, valid and binding obligation of it and of those entitics set out in
the Recitals to this Amendment (other than ISC) on whose behalf it signs this
Amendment, enforceable against it and against any such entities by ISC in
accordance with its terms.

     Section 4.2 ISC Autority. ISC represents and warrants to each of AUCS N.V.,
                 ------------
the Indirect AUCS Stockholders and the other parties to the Management Agreement
that (i) it has all necessary corporate power and authority to execute and
deliver this Amendment and that (ii) this Amendment and the Management Agreement
as amended by this Amendment constitutes the legal, valid and binding obligation
of it, enforceable against it by the other parties to the Management Agreement
in accordance with its terms.

                                  ARTICLE V.
                                 MISCELLANEOUS

     Section 5.1 Incorporation. This Amendment shall be deemed to be
                 -------------
incorporated into and made a part of the Management Agreement.

     Section 5.2 Third Party Rights. A person who is not a party to this
                 ------------------
Amendment shall have no right under the Contracts (Rights of Third Parties) Act
1999 to enforce any of its terms, however nothing in this Section 5.2 shall
prevent a party to the Management Agreement from enforcing any obligation,
rights and benefits that they may have conferred upon them under this Amendment.

     Section 5.3 Governing Law. This Amendment shall be governed by and shall
                 -------------
be construed in accordance with English law, without reference to the choice of
law provisions thereof. Accordingly any dispute arising out of or having any
connection with this Amendment shall be referred, in the first instance, in
accordance with the provisions of Section 10.2 of the Management Agreement.

                           [Signature pages follow]

<PAGE>

     IN WITNESS WHEREOF this Amendment has been executed as a deed by the
parties hereto and its intended to be and is hereby delivered on the date first
before written.

SIGNED AND DELIVERED                         )  /s/ JOSE A. COLLAZO
AS A DEED by                                 )  -----------------------------
INFONET SERVICES                             )      Jose A. Collazo
CORPORATION acting by a                      )         Director
director and its secretary or two directors  )
                           --                )  /s/ PAUL A. GALLEBERG
                                             )  -----------------------------
                                             )      Paul A. Galleberg
                                             )          Secretary

                                      Director

                                      Director/Secretary

SIGNED AND DELIVERED                  )
AS A DEED by                          )
AUCS COMMUNICATIONS                   )
SERVICES N.V. a company               )
incorporated in The Netherlands       )
by                                    )
being a person who, in                )         /s/ DAVID JOWELL
accordance with the laws of that      )         -------------------------
territory, is acting under            )             David Jowell
the authority of AUCS                 )             Attorney-in-fact
Communications Services N.V.          )

SIGNED AND DELIVERED                  )
AS A DEED by                          )         /s/ JAN HENRIK AHRNELL
TELIA AB a company                    )         -------------------------
incorporated in Sweden                )             Jan Henrik Ahrnell
by                                    )
being a person who, in                )         /s/ MARIANNE NIVERT
accordance with the laws of that      )         -------------------------
territory, is acting under            )             Marianne Nivert
the authority of Telia AB             )

SIGNED AND DELIVERED                  )
AS A DEED by                          )
KPN TELECOM B.V.                      )

                                                                               5

<PAGE>

a company incorporated in           )
The Netherlands                     )    /s/ PAUL SMITS
by                                  )    ------------------------
being a person who, in              )        Paul Smits
accordance with the laws of that    )
territory, is acting under          )
the authority of KPN                )
Telecom B.V.                        )

SIGNED AND DELIVERED                )   /s/ JORG BAUMANN
AS A DEED by                        )   -------------------------
SWISSCOM AG                         )       Jorg Baumann
a company incorporated in           )       Vice-President
Switzerland                         )
by                                  )   /s/ LORNE SOMERVILLE
being a person who, in              )   -------------------------
accordance with the laws of that    )       Lorne Somerville
territory, is acting under          )       Senior Vice-President
the authority of Swisscom AG        )

SIGNED AND DELIVERED                )
AS A DEED by                        )
TELIA TELECOMMUNICATIONS            )   /s/ JAN HENRIK AHRNELL
INTERNATIONAL B.V. a company        )   --------------------------
incorporated in The Netherlands     )       Jan Henrik Ahrnell
by Jan Henrik Ahrneli and           )
Annika Christiansson                )   /s/ ANNIKA CHRISTIANSSON
being persons who, in               )   --------------------------
accordance with the laws of that    )       Annika Christiansson
territory, is acting under          )
the authority of Telia Tele-        )
communications International B.V.   )

SIGNED AND DELIVERED                )
AS A DEED by                        )
TELKI HOLDING COMPANY               )   /s/ ERIC DE JONG
B.V. a company                      )   --------------------------
incorporated in The Netherlands     )       Eric de Jong
by                                  )
being a person who, in              )
accordance with the laws of that    )

<PAGE>

territory, is acting under        )
the authority of Tolki Holding    )
Company B.V.                      )

SIGNED AND DELIVERED              )  /s/ LORNE SOMERVILLE
AS A DEED by                      )  --------------------
SWISSCOM NETHERLANDS B.V.         )  LORNE SOMERVILLE
a company incorporated            )  Director
The Netherlands by                )
being a person who, in            )
accordance with the laws of that  )
territory, is acting under        )
the authority of Swisscom         )
Netherlands B.V.                  )

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