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                                                                     EXHIBIT 4.5

                             AMENDED AND RESTATED
                         REGISTRATION RIGHTS AGREEMENT

     THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this "Agreement")
is made and entered into as of December 14, 2000, by and among Telemonde, Inc.,
a Delaware corporation (the "Company"); MCI WorldCom Global Networks U.S. Inc.,
a Delaware corporation ("MCI WorldCom US") and MCI WorldCom Global Networks
Limited, a Bermuda company ("MCI WorldCom Bermuda" and, with MCI WorldCom US,
"MCI WorldCom"); and Global Crossing Limited, a Bermuda company ("Global
Crossing").

                                   RECITALS
                                   --------

     A.   The Company and MCI WorldCom previously have entered into a Debt
Conversion Agreement, dated as of July 25, 2000 (the "MCI WorldCom Agreement"),
pursuant to which MCI WorldCom agreed to cancel and release $9.0 million of
Relevant Debt (as defined therein) in exchange for, and in consideration of, the
issuance by the Company of 15,766,792 shares of Common Stock (as defined in
Section 1.01 of this Agreement).

     B.   In connection with the execution of the MCI WorldCom Agreement, the
Company and MCI WorldCom entered into a Registration Rights Agreement, dated as
of September 19, 2000 (the "Prior Agreement"), pursuant to which the Company
granted MCI WorldCom certain registration rights and other rights with respect
to the shares of Common Stock issued pursuant to the MCI WorldCom Agreement.

     C.   The Company and Global Crossing, together with certain of their
respective Affiliates, have entered into a Standstill Agreement, dated as of
December 4, 2000 (the "Global Crossing Agreement"), pursuant to which Global
Crossing agreed to address approximately $48 million of Outstanding Draw Down
Obligations (as defined therein) in exchange for, and in partial consideration
of, the issuance by the Company of 5,000,000 shares of Preferred Stock (as
defined in Section 1.01 of this Agreement).

     D.   Pursuant to the Global Crossing Agreement, the Company has agreed to
provide the registration rights and other rights set forth in this Agreement for
the shares of Common Stock of the Company issuable to Global Crossing upon the
conversion of the shares of Preferred Stock issuable to Global Crossing pursuant
to the Global Crossing Agreement.

                                   AGREEMENT
                                   ---------

     IN CONSIDERATION OF the premises above, the mutual covenants and agreements
set forth herein, and other good and valuable consideration, the receipt and
sufficiency of which hereby are acknowledged, the parties to this Agreement
agree as follows:

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                                  ARTICLE I.
                      DEFINITIONS; REGISTRABLE SECURITIES

Section 1.01  Definitions
              -----------

     Capitalized terms used and not otherwise defined herein have the meanings
set forth in the Agreement.  The terms set forth below are used herein as so
defined:

     (a)  "Affiliate" has the meaning given thereto in the Exchange Act;
provided, however, that for purposes of this Agreement neither Global Crossing
nor MCI WorldCom, nor any Affiliate of either, shall be deemed to be an
Affiliate of the Company.

     (b)  "Business Day" means each day in which banking institutions in New
York are not required or authorized by law or executive order to close.

     (c)  "Commission" means the Securities and Exchange Commission.

     (d)  "CCL" means Communications Collateral Limited.

     (e)  "CCL Registration Rights Agreement" means that Registration Rights
Agreement dated as of September 1, 1999 by and between the Company and CCL.

     (f)  "CCL Shares" means the shares of Common Stock beneficially owned by
CCL as of the date hereof that are registrable pursuant to the CCL Registration
Rights Agreement.

     (g)  "Common Stock" means shares of common stock of the Company, $.001 par
value per share.

     (h)  "Exchange Act" means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.

     (i)  "Global Crossing Shares" means the shares of Common Stock into which
the shares of Preferred Stock are convertible in accordance with the terms
thereof and any other shares of Common Stock acquired by Global Crossing or its
Affiliates pursuant to the Global Crossing Agreement or any other agreement
between the Company and Global Crossing or its Affiliates.

     (j)  "Holder" means the record holder of any Registrable Security or any
right to receive a Registrable Security.

     (k)  "IPO" shall mean the consummation of an initial underwritten public
offering of Common Stock pursuant to an effective registration statement filed
under the Securities Act (other than any registration statement relating to
warrants, options or shares of Common Stock granted or to be granted or sold
primarily to employees, directors, or officers of the Company, or a registration
statement relating to employee benefit plans or interests therein) and the
listing of the Common Stock on a national securities exchange or the quotation
of prices therefor on the Nasdaq National Market or the Nasdaq Small-Cap Market.

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     (l)  "Losses" has the meaning set forth in Section 2.05 of this Agreement.

     (m)  "MCI WorldCom Shares" means any shares of Common Stock acquired by MCI
WorldCom or its Affiliates pursuant to the MCI WorldCom Agreement or any other
agreement between the Company and MCI WorldCom or its Affiliates.

     (n)  "Person" means any individual, corporation (including any non-profit
corporation), general or limited partnership, limited liability company, joint
venture, estate, trust, association, organization, labor union, or other
governmental entity.

     (o)  "Preferred Stock" means the Company's Series A Convertible Preferred
Stock, $.01 par value per share.

     (p)  "Priority Offering" means any registered primary offering of
securities of the Company commencing on or prior to the date which is nine
months from the closing date of the Company's IPO.

     (q)  "Registrable Securities" means the Global Crossing Shares and the MCI
WorldCom Shares, and the shares of Common Stock issuable with respect thereto
pursuant to Section 1.02 of this Agreement, until such time as such securities
cease to be Registrable Securities pursuant to Section 1.03 of this Agreement.

     (r)  "Registration Expenses" has the meaning set forth in Section 2.04 of
this Agreement.

     (s)  "Securities Act" means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.

     (t)  "Selling Expenses" has the meaning set forth in Section 2.04 of this
Agreement.

     (u)  "Selling Holder" means a Holder who is selling Registrable Securities
pursuant to a registration statement.

SECTION 1.02  Stock Splits, Dividends, Recapitalizations, etc.
              ------------------------------------------------

     Any shares or other securities resulting from any stock split, stock
dividend, reclassification of the Common Stock of the Company, merger,
consolidation or reorganization of the Company which may be received by the
Holder shall also be deemed to be Registrable Securities.

SECTION 1.03  Registrable Securities
              ----------------------

     Any Registrable Security will cease to be a Registrable Security upon the
first to occur of the following:

     (a)  a registration statement covering such Registrable Security has been
declared effective by the Commission and such Registrable Security has been
issued, sold or disposed of pursuant to such effective registration statement;

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     (b)  such Registrable Security is disposed of pursuant to Rule 144 (or any
similar provision then in force) under the Securities Act; or

     (c)  such Registrable Security is held by the Company or any of its
subsidiaries.

                                  ARTICLE II.
                              REGISTRATION RIGHTS

Section 2.01  Demand Registration
              -------------------

     On any date on or after the consummation of an IPO, any Holder(s) may
request by written notice to the Company (the "Initiating Notice") that the
Company register under the Securities Act all of the Registrable Securities held
by the Holder(s) for sale in the manner described in the Initiating Notice and
in accordance with Section 2.03 of this Agreement.  Promptly, and in any event
within 10 days following receipt of an Initiating Notice, the Company shall
notify all other Holders of the receipt of the Initiating Request (the "Company
Notice").  By written notice to the Company (the "Participation Notice")
received not later than ten Business Days after such Holder's receipt of the
Company Notice, any other Holder may request that the Company register under the
Securities Act such other Holder's Registrable Securities for sale in the manner
described in the Initiating Notice and in accordance with Section 2.03 of this
Agreement.  ("Requesting Holders" means, collectively, the Holder(s) giving the
Initiating Notice and the Holder(s) giving the Participation Notices, if any.)
Thereafter, the Company shall use its best efforts to register under the
Securities Act, for public sale in accordance with the method of disposition
specified in the Initiating Notice, the Registrable Securities specified in the
Initiating Notice and in any Participation Notices in accordance with Section
2.03 of this Agreement and the following:

     (a)  Underwriting. If the method of disposition specified in the Initiating
Notice shall be an underwritten public offering, the Company may designate the
managing underwriter of such offering, subject to the approval of Requesting
Holders holding 66 2/3% of the Registrable Securities to be registered.

     (b)  Number of Registrations. Except as specified in the following
sentence, the Company shall be obligated to register Registrable Securities
pursuant to this Section 2.01 on four occasions only. No request for
registration of Registrable Securities may be given prior to the date which is
six months after the effective date of a registration statement covering
Registrable Securities filed pursuant to this Section 2.01. A request pursuant
to this Section 2.01 shall be counted only when (i) all the Registrable
Securities requested to be included in any such registration have been so
included, (ii) the corresponding registration statement has become effective
under the Securities Act, and (iii) the public offering has been consummated and
the Registrable Securities have been sold on the terms and conditions specified
therein.

     (c)  Delay. Notwithstanding anything to the contrary contained in this
Agreement, the Company may delay the filing or effectiveness of a registration
statement for up to 45 days after receipt of a request hereunder if (i) at the
time of such request the Company is engaged in a firm commitment underwritten
public offering of shares of its Common Stock in which Holders may include
Registrable Securities or (ii) the Board of Directors of the Company determines
in its

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reasonable judgment and in good faith that the filing of such a registration
statement or the making of any required disclosure in connection therewith would
have a material adverse effect on the Company or substantially interfere with a
significant transaction in which the Company is then engaged. The Company will
give the Holders prompt written notice of such determination and an
approximation of the period of the anticipated delay. The Company shall provide
written notice to the Holders of the end of each delay period. The Company shall
not be entitled to initiate a delay period unless it shall concurrently delay
the filing or effectiveness of registration statements of, or prohibit sales by
other security holders under, registration statements covering securities held
by other security holders and have in place a policy that prohibits sales of
securities of the Company by senior executive officers during such period.

     (d)  Reduction of Number of Registrable Securities. If a registration to be
effected pursuant to this Section 2.01 is an underwritten registration and the
managing underwriter of such offering concludes (and delivers to the Company and
the Requesting Holders its opinion to the effect) that the total amount of
Registrable Securities to be included in such registration exceeds the amount
which can be sold in (or during the time of) such offering without delaying or
jeopardizing the success of the offering (including the price per share of the
securities to be sold) then the number of Registrable Securities to be sold by
each Requesting Holder shall be reduced to a number determined by multiplying
(i) the number of Registrable Securities identified by the Requesting Holder in
the Initiating Notice or its Participation Notice, as applicable, by (ii) a
ratio, the numerator of which is the number of Registrable Securities which
according to the managing underwriter's opinion can be sold in (or during the
time of) such offering without delaying or jeopardizing the success of the
offering; and the denominator of which is the total number of Registrable
Securities requested by all Requesting Holders to be included in the offering.

     (e)  Inclusion of Securities for Company's Account. The Company shall be
entitled to include in any registration statement filed pursuant to this Section
2.01, for sale for its own account in accordance with the method of disposition
specified by the Requesting Holders, shares of Common Stock or other securities
of the Company entitled generally to vote in the election of directors (or any
securities convertible into or exchangeable for or exercisable for the purchase
of Common Stock or other securities so entitled generally to vote in the
election of directors) ("Company Shares"). If, however, such registration is an
underwritten registration and the managing underwriters participating in such
offering conclude that the total amount Registrable Securities and Company
Shares to be included in such registration exceeds the amount which can be sold
in (or during the time of) such offering without delaying or jeopardizing the
success of the offering (including the price per share of the securities to be
sold) then the number of Company Shares shall be reduced to zero, if necessary.

     (f)  Demand by Other Persons. Subject to Section 2.07 below and otherwise
notwithstanding anything herein to the contrary, if the Company shall have
received a demand request for registration from any Person other than a Holder
and the Holders shall not have had an opportunity to have their Registrable
Securities registered in full prior to the Company's receipt of such demand
request, then the Company shall promptly notify the Holders in writing of its
receipt of such written request and the Holders shall have five (5) Business
Days from the date of their receipt of such notice to elect to exercise one of
their demand registration rights in respect of the Registrable Securities which
exercise shall be deemed to have occurred

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immediately prior to such other demand request, in which event, the shares of
Common Stock of any other Person (other than a Holder) who demanded or, prior to
the effective date of the registration statement being filed in respect of the
Holders' shares of Common Stock, demands registration of their shares of Common
Stock, may be included in such registration; provided , however, that the number
of shares of Common Stock of such Person(s) (other than a Holder) to be included
in such a registration may be reduced or eliminated if and to the extent the
managing underwriter shall render to the Company its opinion that such inclusion
would jeopardize the successful marketing of the Registrable Securities proposed
to be sold therein.

Section 2.02  Piggy-Back Registration
              -----------------------

     If at any time the Company proposes to register any securities under the
Securities Act for sale to the public (other than in an IPO), whether for its
own account or for the account of other security holders or both (except with
respect to registration statements on Forms S-4 or S-8 for purposes permissible
under such forms as of the date hereof, or any successor forms for comparable
purposes that may be adopted by the Commission), the Company promptly (and in
any event no less than 15 Business Days before the anticipated filing date) will
give written notice to all Holders (the "Company Notice") of its intention to do
so and the terms and conditions applicable to any similar securities included in
such offering.  Any Holder may request that the Company register under the
Securities Act any of the Holder's Registrable Securities by giving written
notice to the Company (the "Inclusion Request") set forth the Holder's intended
method of disposition of the Registrable Securities.  Upon the receipt of any
Inclusion Request received not later than ten Business Days after such Holder's
receipt of the Company Notice, the Company will use its best efforts to cause
the Registrable Securities identified in the Inclusion Request to be included in
the securities to be covered by the registration statement proposed to be filed
by the Company, on the same terms and conditions as any similar securities
included therein, to the extent requisite to permit the sale or other
disposition by each Holder of such Registrable Securities in accordance with its
Inclusion Request, all in accordance with Section 2.03 of this Agreement and the
following:

     (a)  Abandonment. The Company, in its sole discretion and without the
consent of any Holder, may abandon the proposed offering in its entirety at any
time prior to the effectiveness of any such registration statement.

     (b)  Reduction in Number of Registrable Securities. The number of
Registrable Securities to be included in such a registration may be reduced or
eliminated if and to the extent the managing underwriter shall render to the
Company its opinion that such inclusion would jeopardize the successful
marketing of the securities (including the Registrable Securities) proposed to
be sold therein. In such event, the number of Registrable Securities to be sold
by each Selling Holder shall be reduced to a number determined by multiplying
(i) the number of Registrable Securities identified by the Selling Holder in its
Inclusion Notice by (y) a ratio, the numerator of which shall be the number of
Registrable Securities which, in the opinion of the managing underwriter, can be
included in the offering without jeopardizing the successful marketing of the
securities, and the denominator of which shall be the total number of
Registrable Securities requested by all Selling Holders to be included in the
offering. Notwithstanding the foregoing sentence, such number of shares of
Registrable Securities shall not be reduced (A) if, in the context of a Priority
Offering, shares of Common Stock are to be

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included in such underwriting for the accounts of any other Person other than
the Company or (B) unless, in the context of any primary offering other than a
Priority Offering, the shares to be included in such underwriting for the
account of any Person other than the Company are also reduced on a pro-rata
basis (determined by including the shares to be sold for the account of such
Person in the denominator of the fraction described in (ii) above).

     (c)  Underwritten Offerings. Notwithstanding anything to the contrary
contained in this Section 2.02, in the event that there is a firm underwriting
commitment offer of securities of the Company pursuant to a registration
statement covering Registrable Securities and a Holder is permitted to but does
not elect to sell its Registrable Securities to the underwriters of the
Company's securities in connection with such offering, such Holder shall not
offer for sale, sell, grant any option for the sale of, or otherwise dispose of,
directly or indirectly, any shares of Common Stock, or any securities
convertible into or exchangeable into or exercisable for any shares of Common
Stock during the period of distribution of the Company's securities by such
underwriters, which shall be specified in writing by the underwriters and shall
not exceed 60 days following the date of effectiveness under the Securities Act
of the registration statement relating thereto.

Section 2.03  Registration Procedures
              -----------------------

     (a)  If and whenever the Company, pursuant to this Agreement , becomes
obligated to effect the registration of any of the Registrable Securities under
the Securities Act, the Company will, as expeditiously as possible:

          (i)   prepare and file as promptly as possible with the Commission a
registration statement in accordance with this Article II with respect to such
securities (which filing, if made pursuant to Section 2.01, shall be made within
30 days after receipt by the Company of a notice requesting such registration or
at such later date as may reasonably be expected to result in such registration
statement being declared effective by the Commission on or prior to the date
which is 270 days after the closing date of the IPO) and use its best efforts to
cause such registration statement to become and remain effective for the period
of the distribution contemplated thereby (as determined in Section 2.03(b));

          (ii)  prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective for
the period specified in Section 2.03(b) and as may be necessary to comply with
the provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement in accordance with the
sellers' intended method of disposition set forth in such registration statement
for such period;

          (iii) furnish to each Selling Holder and to each underwriter such
number of copies of the registration statement and the prospectus included
therein (including each preliminary prospectus and each document incorporated by
reference therein prior to the filing with the Commission) as such Persons may
reasonably request in order to review such documentation and to facilitate the
public sale or other disposition of the Registrable Securities covered by such
registration statement;

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          (iv)  use its best efforts to register or qualify the Registrable
Securities covered by such registration statement under the securities or blue
sky laws of such jurisdictions as the Selling Holders or, in the case of an
underwritten public offering, the managing underwriter, shall reasonably
request;

          (v)   immediately notify each Selling Holder and each underwriter, at
any time when a prospectus relating thereto is required to be delivered under
the Securities Act, of the happening of any event as a result of which the
prospectus contained in such registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing;

          (vi)  furnish, at the request of a Selling Holder:

                (A)  on the date that Registrable Securities are delivered to
the underwriters for sale pursuant to such registration statement (or on the
effective date in the case of an offering that is not underwritten), an opinion
of counsel for the Company dated as of such date and addressed to the
underwriters, if any, and to the Selling Holders, stating that such registration
statement has become effective under the Securities Act and that (I) to the best
knowledge of such counsel, no stop order suspending the effectiveness thereof
has been issued and no proceedings for that purpose have been instituted or are
pending or contemplated under the Securities Act, (II) the registration
statement, the related prospectus, and each amendment or supplement thereof,
comply as to form in all material respects with the requirements of the
Securities Act and the applicable rules and regulations thereunder of the
Commission (except that such counsel need express no opinion as to the financial
statements or any engineering report contained or incorporated therein) and
(III) to such other effects as may reasonably be requested by counsel for the
underwriters or by any such Selling Holder or its counsel; and

                (B)  on the effective date of the registration statement and on
the date that Registrable Securities are delivered to the underwriters for sale
pursuant to such registration statement, a letter dated such dates from the
independent accountants retained by the Company, addressed to the underwriters,
if any, and to the Selling Holders, stating that they are independent public
accounts within the meaning of the Securities Act and that, in the opinion of
such accountants, the financial statements of the Company and the schedules
thereto that are included or incorporated by reference in the registration
statement or the prospectus, or any amendment or supplement thereof, comply as
to form in all material respects with the applicable requirements of the
Securities Act and the published rules and regulations promulgated thereunder,
and such letter shall additionally address such other financial matters
(including information as to the period ending no more than five Business Days
prior to the date of such letter) included in the registration statement in
respect to which such letter is being given as the underwriters or any Selling
Holder may reasonably request;

          (vii) use its best efforts to keep effective and maintain a
registration, qualification, approval or listing on a national securities
exchange or the quotation of prices thereof on the Nasdaq National Market or the
Nasdaq SmallCap Market obtained to cover the Registrable Securities as may be
necessary for the Selling Holders to dispose thereof and shall

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from time to time amend or supplement any prospectus used in connection
therewith to the extent necessary in order to comply with applicable law;

          (viii) use its best efforts to cause the Registrable Securities to be
registered with or approved by such other governmental agencies or authorities
as may be necessary by virtue of the business and operations of the Company to
enable the Selling Holders to consummate the disposition of such Registrable
Securities; and

          (ix)   enter into customary agreements (including, if requested, an
underwriting agreement in the customary form) and take such other actions as are
reasonably requested by the Selling Holders or the underwriters, if any, in
order to expedite or facilitate the disposition of such Registrable Securities.

     (b)  The period of distribution of Registrable Securities in a firm
commitment underwritten public offering shall be deemed to extend until each
underwriter has completed the distribution of all securities purchased by it,
and the period of distribution of Registrable Securities in any other
registration shall be deemed to extend until the earlier of the sale of all
Registrable Securities covered thereby.

     (c)  In connection with each registration hereunder, each Selling Holder
agrees to furnish promptly to the Company in writing such information with
respect to itself and the proposed distribution by it as shall be reasonably
necessary in order to ensure compliance with federal and applicable state
securities laws; and

     (d)  In connection with each registration hereunder with respect to an
underwritten public offering, each Selling Holder agrees to enter into a written
agreement with the managing underwriter or underwriters selected in the manner
herein provided in such form and containing such provisions as are customary in
the securities business for such an arrangement between underwriters and
companies of the Company's size and investment stature, provided that such
agreement shall not contain any such provision applicable to the Selling Holders
that is inconsistent with the provisions hereof; and further provided, that the
time and place of the closing under said agreement shall be as mutually agreed
upon among the Company, the Selling Holders and such managing underwriter.

Section 2.04  Expenses
              --------

     (a)  All expenses incident to the Company's performance or compliance with
this Agreement, including without limitation, all registration and filing fees,
blue sky fees and expenses, printing expenses, listing fees, fees and
disbursements of counsel and independent public accountants for the Company,
fees of the National Association of Securities Dealers, Inc., transfer taxes,
fees of transfer agents and registrars, and costs of insurance and reasonable
out-of-pocket expenses of the Selling Holders (including fees and expenses of
one firm serving as legal counsel to Global Crossing and one firm serving as
legal counsel to MCI WorldCom), but excluding any Selling Expenses (as defined
below), are herein called "Registration Expenses." All underwriting discounts
and selling commissions attributable to the sale of the Registrable Securities
are herein called "Selling Expenses."

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     (b)  The Company will pay all Registration Expenses with each registration
statement filed pursuant to this Agreement, whether or not the registration
becomes effective, and the Selling Holders shall pay Selling Expenses in
connection with any Registrable Securities registered and sold pursuant to this
Agreement.

Section 2.05  Indemnification
              ---------------

     (a)  In the event of a registration of any Registrable Securities under the
Securities Act pursuant to this Agreement, the Company will indemnify and hold
harmless each Selling Holder thereunder and each underwriter of Registrable
Securities thereunder and each Person, if any, who controls such Selling Holder
or underwriter within the meaning of the Securities Act and the Exchange Act,
against any losses, claims, damages or liabilities (including reasonable
attorneys' fees) ("Losses"), joint or several, to which such Selling Holder or
underwriter or controlling Person may become subject under the Securities Act,
the Exchange Act or otherwise, insofar as such Losses (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in any registration statement under
which such Registrable Securities were registered under the Securities Act
pursuant to this Agreement, any preliminary prospectus or final prospectus
contained therein, or any amendment or supplement thereof, or arise out of or
are based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, and will reimburse each such Selling Holder, each such underwriter
and each such controlling Person for any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such Loss or
actions; provided, however, that the Company will not be liable in any such case
if and to the extent that any such loss, claim, damage or liability arises out
of or is based upon an untrue statement or alleged untrue statement or omission
or alleged omission so made in conformity with information furnished by such
Selling Holder, such underwriter or such controlling Person in writing
specifically for use in such registration statement or prospectus.

     (b)  Each Selling Holder agrees to indemnify and hold harmless the Company,
its directors, officers, employees and agents and each Person, if any, who
controls the Company within the meaning of the Securities Act or of the Exchange
Act to the same extent as the foregoing indemnity from the Company to such
Selling Holder, but only with respect to information with respect to such
Selling Holder furnished in writing by or on behalf of such Selling Holder
expressly for inclusion in any registration statement or prospectus relating to
the Registrable Securities, or any amendment or supplement thereto.

     (c)  Promptly after receipt by an indemnified party hereunder of notice of
the commencement of any action, such indemnified party shall, if a claim in
respect thereof is to be made against the indemnifying party hereunder, notify
the indemnifying party in writing thereof, but the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to
any indemnified party other than under this Section 2.05. In case any such
action shall be brought against any indemnified party and it shall notify the
indemnifying party of the commencement thereof, the indemnifying party shall be
entitled to participate in and, to the extent it shall wish, to assume and
undertake the defense thereof with counsel reasonably satisfactory to such
indemnified party and, after notice from the indemnifying party to such
indemnified party of its election so to assume and undertake the defense
thereof, the

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indemnifying party shall not be liable to such indemnified party under this
Section 2.05 for any legal expenses subsequently incurred by such indemnified
party in connection with the defense thereof other than reasonable costs of
investigation and of liaison with counsel so selected; provided, however, that,
(i) if the indemnifying party has failed to assume the defense and employ
counsel or (ii) if the defendants in any such action include both the
indemnified party and the indemnifying party and counsel to the indemnified
party shall have concluded that there may be reasonable defenses available to
the indemnified party that are different from or additional to those available
to the indemnifying party or if the interests of the indemnified party
reasonably may be deemed to conflict with the interests of the indemnifying
party, then the indemnified party shall have the right to select a separate
counsel and to assume such legal defense and otherwise to participate in the
defense of such action, with the expenses and fees of such separate counsel and
other expenses related to such participation to be reimbursed by the
indemnifying party as incurred.

     (d)  If the indemnification provided for in this Section 2.05 is not
available to the Company or the Selling Holders or is insufficient to hold them
harmless in respect of any losses, claims, damages, liabilities or expenses
referred to herein, then each such indemnifying party, in lieu of indemnifying
such indemnified party, shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages, liabilities and
expenses as between the Company on the one hand and each Selling Holder on the
other, in such proportion as is appropriate to reflect the relative fault of the
Company on the one hand and of each Selling Holder on the other in connection
with the statements or omissions which resulted in such losses, claims, damages
or liabilities, as well as any other relevant equitable considerations. The
relative fault of the Company on the one hand and each Selling Holder on the
other shall be determined by reference to, among other things, whether the
untrue or alleged untrue statements of a material fact or the omission or
alleged omission to state a material fact has been made by, or relates to,
information supplied by such party, and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission. No Person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any Person who is not guilty of such fraudulent misrepresentation.

Section 2.06  Rule 144.
              ---------

     The Company covenants that it will file, on a timely basis, all reports
required to be filed by it under the Securities Act and the Exchange Act, and it
will take such further action and provide such documents as any Holder may
request, all to the extent required from time to time to enable the Holders to
sell Registrable Securities without registration under the Securities Act within
the limitation of the conditions provided by (a) Rule 144 under the Securities
Act, as such rules may be amended from time to time, or (b) any similar rule or
regulation hereafter adopted by the United States Securities and Exchange
Commission.  Upon the request of any Holder, the Company will deliver to the
Holders a written statement verifying that it has complied with such information
and requirements.

                                       11
<PAGE>

Section 2.07  Senior Registration Rights
              --------------------------

     (a)  The Company represents and warrants that no party other than CCL, and
then only with respect to the CCL Shares, has or shall have any right to have
any shares of capital stock of the Company registered by the Company in
connection with the IPO.

     (b)  Except as set forth in Section 2.07(c), the Company shall not grant or
permit to exist any registration rights to any other Person which registration
rights are senior to the registration rights of any Holder of Registrable
Securities ("Senior Registration Rights"), unless (i) the Company shall first
obtain the written consent of the Holders of 662/3% of the Registrable
Securities or (ii) each Holder of Registrable Securities is also granted Senior
Registration Rights.

     (c)  The Holders hereby acknowledge that the rights of the Holders set
forth herein are subject to and shall not affect in any way, the registration
rights of CCL set forth in the CCL Registration Rights Agreement as now in
effect. The Company hereby covenants that it shall not, without the prior
written consent of all of the Holders, increase the number of shares covered by
the CCL Registration Rights Agreement, grant additional registration rights to
CCL or amend the CCL Registration Rights Agreement in any way that could, in the
reasonable opinion of the Holders, adversely affect the ability of the Holders
to affect the registration of the Registrable Securities.

                                 ARTICLE III.
                           EFFECT ON PRIOR AGREEMENT

     This Agreement amends, restates and replaces the Prior Agreement in its
entirety. Neither the Company nor MCI WorldCom, nor any other Person, shall have
any rights or responsibilities under the Prior Agreement.

                                  ARTICLE IV.
                              GENERAL PROVISIONS

Section 4.01  Communications
              --------------

     (a)  All notices and other communications provided for or permitted
hereunder shall be made in writing by registered or certified first-class mail
or post, return receipt requested, facsimile transmission, overnight delivery or
courier service or personal delivery:

          (i)  if to a Holder of Registrable Securities, at the most current
address given by such Holder of the Company in accordance with the provisions of
this Section 4.01, which address initially is as set forth on Schedule A

          (ii) if to the Company, at the most current address given by the
Company to the Holders in accordance with the provisions of this Section 4.01,
which address initially is as follows:

                                       12
<PAGE>

             Telemonde Inc.                     with a copy to:
             40 Portman Square                  Baker, Donelson, Bearman &
             London W1H 9FH                         Caldwell
             United Kingdom                     1800 Republic Centre
             Facsimile: +44 (0)20 7487 4001     633 Chestnut Street
             Attention: General Counsel         Chattanooga, TN 37450
                                                USA
                                                Facsimile: (423) 756-3447
                                                Attention: J. Porter Durham,
                                                  Esq.

     (b)  All such notices and communications shall be deemed to have been duly
given four days after mailing or posting by registered or certified mail or
post, return receipt requested; when receipt acknowledged, if transmitted by
facsimile; on the next Business Day, if timely delivered to an air courier or
overnight delivery service guaranteeing overnight delivery; or at the time
delivered by hand, if personally delivered.

Section 4.02  Attorneys' Fees
              ---------------

     In any action or proceeding brought to enforce any provision of this
Agreement, the successful party shall be entitled to recover reasonable
attorneys' fees in addition to its costs and expenses and any other available
remedy.

Section 4.03  Successors and Assigns; Assignment
              ----------------------------------

     This Agreement shall inure to the benefit of and be binding upon the
successors and assigns of each of the parties, including without limitation and
without the need for an express assignment, subsequent holders of Registrable
Securities or Preferred Shares.  The rights of the Holders under this Agreement
shall not be assigned to any party other than subsequent Holders of Registrable
Securities or Preferred Shares.  The rights and obligations of the Company under
this Agreement shall not be assigned to any party.  Any assignment or attempted
assignment in violation of this Section 4.02 shall be void.

Section 4.04  Governing Law
              -------------

     The laws of the State of New York shall govern this Agreement without
regard to principles of conflict of laws.

Section 4.05  Severability of Provisions
              --------------------------

     Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting or impairing the validity or enforceability of
such provision in any other jurisdiction.

Section 4.06  Amendment
              ---------
     This Agreement may be amended only by means of a written amendment signed
by the Company and by the Holders of a majority of the Registrable Securities.

                                       13
<PAGE>

Section 4.07  Registrable Securities Held by the Company or Its Affiliates
              ------------------------------------------------------------

     In determining whether the Holders of the required amount of Registrable
Securities have concurred in any direction, amendment, supplement, waiver or
consent, Registrable Securities owned by the Company or its Affiliates shall be
disregarded.

Section 4.08  Headings
              --------

     The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.

Section 4.09  Execution
              ---------

     (a)  Facsimiles. This Agreement may be executed by a facsimile signature,
which shall have the same force and effect as a manually executed signature.

     (b)  Counterparts. This Agreement may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which counterparts, when so executed and delivered, shall be deemed to be an
original and all of which counterparts, taken together, shall constitute but one
and the same Agreement.

                     *          REMAINDER OF PAGE       *
                     *        INTENTIONALLY LEFT BLANK  *

                                       14
<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first written above.

                                          TELEMONDE, INC.

                                            By: /s/ Adam N. Bishop
                                                -----------------------------
                                            Title: President

                                          GLOBAL CROSSING LIMITED

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

                                          MCI WORLDCOM GLOBAL NETWORKS U.S. INC.

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

                                          MCI WORLDCOM GLOBAL NETWORKS LIMITED

                                            By:
                                                -----------------------------

                                            Title:
                                                   --------------------------

                                       15
<PAGE>

                                  Schedule A

                             Addresses of Holders
                      ----------------------------------

a.  Global Crossing                      with a copy to:

       Global Crossing Limited           Munger, Tolles & Olson LLP
       Wessex House                      355 South Grand Avenue
       45 Reid Street                    Thirty-Fifth Floor
       Hamilton                          Los Angeles, CA 90071-1560
       Bermuda                           U.S.A.
       Facsimile:                        Facsimile: (213) 683-4096
       Attention:                        Attention: Brian T. Daly, Esq.

b.  MCI WorldCom:                        with a copy to:

       MCI Global Networks U.S., Inc.    Coudert Brothers
                                         The Grace Building
                                         1114 Avenue of the Americas
                                         New York, NY 10036-7703
                                         U.S.A.
       Facsimile:                        Facsimile: (212) 626-4120
       Attention:                        Attention: Andrew S. Hedden

                                      A-1<PAGE>

                                                                   EXHIBIT 10.16

                               November 30, 2000

                                TELEMONDE, INC.
                      TELEMONDE BANDWIDTH (BERMUDA) LTD.

                            GLOBAL CROSSING USA INC
                                  GT U.K. LTD
                               GT LANDING CORP.
                            ATLANTIC CROSSING LTD.

                      __________________________________

                              STANDSTILL AGREEMENT

                      __________________________________
<PAGE>

                                   CONTENTS

A.   Main Agreement

B.   Schedule 1     Details of Agreed Amount in respect of Drawn-Down Capacity

C.   Schedule 2     Capacity Commitment Agreement

D.   Schedule 3     Permitted Borrowings

E.   Schedule 4     Permitted Encumbrances

F.   Schedule 5     Registration Rights Agreement

G.   Schedule 6     [Intentionally Omitted]

H.   Schedule 7     Legal proceedings

I.   Schedule 8     Telemonde Group Companies Giving Guarantees

J.   Schedule 9     Certificate of Designation of Series A Convertible Preferred
                    Stock
<PAGE>

STANDSTILL AGREEMENT

Dated as of November 30, 2000

by and among

TELEMONDE, INC.                         ("TINC")
230 Park Avenue
10/th/ Floor
New York
New York 10169

TELEMONDE BANDWIDTH
(BERMUDA) LTD.                          ("TBBL")
Argonaut House
5 Park Road
Hamilton  HM09
Bermuda

GLOBAL CROSSING USA INC                 ("Global Crossing USA")
GT U.K. LTD                             ("GT UK")
GT LANDING CORP.                        ("GT Landing")
c/o 360 North Crescent Drive
Beverly Hills
California  90210

ATLANTIC CROSSING LTD.                  ("Atlantic Crossing")
Wessex House
45 Reid Street
Hamilton HM12
Bermuda
<PAGE>

                                   RECITALS

A.   On 10/th/ June 1998, TBBL and Atlantic Crossing entered into the Atlantic
     Capacity Agreement including a commitment on behalf of TBBL to acquire from
     Atlantic Crossing a certain amount of transatlantic and other
     telecommunications cable capacity on an indefeasible right of use basis for
     an agreed sum.

B.   TBBL has not drawn-down all the capacity that it agreed to under the
     Atlantic Capacity Agreement. In addition, it owes sums to Atlantic Crossing
     pursuant to that agreement for Drawn-Down Capacity and O&M Charges.

C.   In December 1998, GT UK and TBBL entered into the UK Backhaul Agreement and
     GT Landing and TBBL entered into the US Backhaul Agreement, pursuant to
     which TBBL leased certain capacity in the US and the UK. TBBL owes GT UK
     and GT Landing certain sums under each of these agreements.

D.   On November 1, 1999, TINC entered into the IPL Agreement with Global
     Crossing USA pursuant to which TINC leased certain capacity. TINC owes
     Global Crossing USA certain sums under the IPL Agreement. The IPL Agreement
     has been terminated by mutual consent of the parties thereto, effective as
     of 31 October, 2000, and will be replaced by a new agreement with an
     effective date of November 1, 2000 (which new agreement is outside the
     scope of this Agreement), and by entering into such new agreement, the
     parties to the IPL Agreement have agreed that no additional liabilities
     will accrue under the IPL Agreement from and after November 1, 2000.

E.   Atlantic Crossing, Global Crossing USA, GT UK and GT Landing are affiliated
     companies. TBBL is an Affiliate of TINC.
<PAGE>

F.   The parties have agreed to settle the terms of TBBL's liability to Atlantic
     Crossing, GT UK and GT Landing pursuant to the Atlantic Capacity Agreement,
     the US Backhaul Agreement and the UK Backhaul Agreement and TINC's
     liability to Global Crossing USA pursuant to the IPL Agreement on the terms
     set out herein.

                 [Remainder of page intentionally left blank.]
<PAGE>

                                   AGREEMENT

1.   Definitions

     a)   In this Agreement (including the Recitals) the following terms shall
          have the following meanings:

          "Affiliate" has the meaning set forth in Rule 12b-2 of the regulations
          promulgated under the Securities Exchange Act of 1934, as amended.

          "Agreed Amount" means the sum to be paid pursuant to clause 5 (include
          interest payable as provided in such clause), such amount being the
          amount agreed between the parties as being TBBL and TINC's current
          liability (other than in respect of Outstanding Drawdown Obligations)
          under the Capacity Agreements outstanding as at the date hereof, as
          set out in Schedule 1;

          "Agreed Dates" means the dates for payment of the Agreed Amount as set
          out in Clause 5(a);

          "Agreement" means this agreement including the Schedules hereto;

          "Atlantic Capacity Agreement" means the Capacity Purchase Agreement
          between TBBL and Atlantic Crossing dated 10th June 1998 as amended
          prior to the date hereof;

          "Business Day" means a day (excluding Saturdays and Sundays) on which
          banks are open for business in London;

          "Capacity Agreements" means the Atlantic Capacity Agreement, the UK
          Backhaul Agreement, the US Backhaul Agreement and the IPL Agreement;
<PAGE>

          "Capacity Commitment Agreement" means the draft agreement attached
          hereto at Schedule 2 between TINC and Global Crossing Bandwidth, Inc.;

          "Common Shares" means common stock of Telemonde Inc;

          "Drawn-Down Capacity" means telecommunications capacity drawn-down and
          in service for TBBL pursuant to the Capacity Agreements;

          "Effective Date" means the day on which all of the items set forth in
          Clause 7.2 are delivered to Global Crossing;

          "Global Crossing" means each of  Atlantic Crossing, Global Crossing
          USA, GT UK and GT Landing, and any agreement of "Global Crossing"
          hereunder shall be the agreement of each of them individually;

          "Insolvency Event" means: any dissolution, termination of existence,
          insolvency, business failure, appointment of a receiver of any part of
          the property of, assignment for the benefit of creditors of TINC or
          any Telemonde Group Company, or commencement of any proceeding under
          any bankruptcy or insolvency laws by any TINC or any Telemonde Group
          Company, or commencement of such proceedings against TINC or any
          Telemonde Group Company that remain uncured or undismissed for 60 days
          after such commencement.

          "IPL Agreement" means the International Private Line Services
          Agreement between TINC and Global Crossing USA dated 1st November,
          1999.

          "Management Party" means Adam Bishop and Kevin Maxwell.
<PAGE>

          "O&M Charges" means operations and maintenance charges in respect of
          Drawn Down Capacity payable pursuant to the Capacity Agreements;

          "Outstanding Draw-Down Obligations" means TBBL's outstanding
          obligations to draw down and pay for further capacity pursuant to the
          Atlantic Capacity Agreement;

          "Permitted Borrowings" means the categories of borrowings set out in
          Schedule 3;

          "Permitted Encumbrances" means the categories of encumbrances set out
          in Schedule 4;

          "Preferred Shares" means 5,000,000 shares of Series A Convertible
          Preferred Stock, which shares are designated by, issued pursuant to,
          and are governed by the terms of, the Certificate of Designation of
          Series A Convertible Preferred Stock of Telemonde, Inc. to be filed
          with the Secretary of State of Delaware in the form attached hereto as
          Schedule 9;

          "Preferred Cash Equivalent" means a sum calculated by multiplying (i)
          the lesser of (x) the closing bid price per share of common stock of
          TINC on the Effective Date, (y) any higher price per share paid for
          the purchase of shares of common stock of TINC in any transaction
          effecting the purchase of over 5% of the then-outstanding shares of
          common stock of TINC occurring between then Effective Date and May 30,
          2000 (in either case as adjusted for splits, dividends, and other
          adjustments), (ii) by 23,000,000, to be paid to Global Crossing
          Limited immediately pursuant to a failure by TINC to cause 23,000,000
          Common Shares to be authorized and reserved for issuance to permit the
<PAGE>

          conversion of the Preferred Shares issued to Global Crossing Limited;

          "Registration Rights Agreement" means an agreement providing for
          Common Shares to be issued hereunder to be granted certain
          registration rights in a form substantially similar to that set out in
          Schedule 5;

          "Standstill Period" means the period from the date on which the
          standsill commences to the date on which the standstill expires, in
          each case in accordance with Clause 7;

          "Telemonde Group Company" means any Affiliate of TINC, including TBBL;

          "TNL" means Telemonde Networks Limited;

          "UK Backhaul Agreement" means the Lease Agreement in Inland Capacity
          (United Kingdom) of December 1998 between GT UK and TBBL;

          "US Backhaul Agreement" means the Lease Agreement in Inland Capacity
          (United States) of December 1998 between GT Landing and TBBL.

     b)   In this Agreement, unless the context otherwise requires:

          i)   references to Recitals, Clauses and Schedules are references to
               recitals of, clauses of and schedules to this Agreement;
          ii)  references to any party shall, where relevant, be deemed to be
               references to or include, as appropriate, their respective lawful
               successors, assigns or transferees;
<PAGE>

          iii)  references to one gender include all genders and references to
                the singular include the plural and vice versa

2.   Standstill Period and Agreement

     In consideration for:

     a)   TINC agreeing (by means of its execution hereof) to pay the Agreed
          Amount on the Agreed Dates;

     b)   TINC fulfilling its obligations pursuant to Clause 6;

     c)   TINC agreeing (by means of its execution hereof) to procure the
          entering into of the Capacity Commitment Agreement by TNL;

     d)   TINC causing all of the items set forth in Clause 7.2 to be delivered
          to Global Crossing (or any Global Crossing Affiliate noted therein) on
          or before December 14, 2000; and

     e)   TINC and TBBL (by means of their respective execution hereof) agreeing
          to the other matters contained in this Agreement, including their
          performance thereof,

Global Crossing agrees that during the Standstill Period none of them shall:

     a)   make any demand for, or accept payment or discharge or claim or take
          any proceedings or steps to enforce payment or discharge of or to
          recover the Agreed Amount or in respect of the Outstanding Draw Down
          Obligations;

     b)   take steps to enforce or make demand under any guarantee, indemnity,
          security or other right of recourse in respect of
<PAGE>

          the Agreed Amount or in respect of the Outstanding Draw Down
          Obligations;

     c)   take any steps to wind up or appoint a receiver, administrative
          receiver or administrator or other similar officer or commence any
          other insolvency related proceedings or any analogous proceedings in
          any other jurisdiction against any Telemonde Group Company or any
          assets thereof in relation to the Agreed Amount or in respect of the
          Outstanding Draw Down Obligations, and:

     Global Crossing agrees further as set out in this Agreement.  This Clause 2
     shall not restrict or limit Global Crossing from taking any action with
     respect to enforcing its rights under this Agreement during the Standstill
     Period, enforcing its rights under the Capacity Agreements during the
     Standstill Period, other than in relation to the Agreed Amount or in
     respect of the Outstanding Draw Down Obligations, or enforcing its rights
     under any other agreement to which it is party.

3.   Outstanding Draw Down Obligations and Agreed Amount

     3.1  Atlantic Crossing agrees that the issuing of the Preferred Shares on
     the Effective Date to Global Crossing Limited (a Bermuda company with its
     registered office at Wessex House, 45 Reid Street, Hamilton, Bermuda) and
     the authorization and reservation of an additional number of Common Shares
     in an amount sufficient to allow a full conversion of all of the Preferred
     Shares (or the payment in full of the Preferred Cash Equivalent to Global
     Crossing Limited) on or prior to May 30, 2001 shall be in full and final
     settlement of any claims that Atlantic Crossing may have pursuant to or in
     relation to the Atlantic Capacity Agreement arising on or prior to the date
     hereof and in relation to the Outstanding Draw Down Obligations and that,
     subject to termination of the Standstill Period pursuant to Clause 7.3(a),
     such issuance and reservation (or
<PAGE>

     payment) shall release TBBL from all such claims and obligations and in
     such connection, following such issuance and reservation (or payment) and
     termination of the Standstill Period it shall not:

     a)   make any demand for, accept payment or discharge for or make any claim
          or take any proceedings or steps to enforce payment or discharge of or
          to recover any sums in respect of the Outstanding Draw Down
          Obligations;

     b)   take steps to enforce or make demand under any guarantee, indemnity,
          security or other right of recourse in respect of the Outstanding Draw
          Down Obligations; or

     c)   take any steps to wind up or appoint a receiver, administrative
          receiver or other similar officer or commence any other insolvency
          related proceedings or analogous proceedings in any other jurisdiction
          against any Telemonde Group Company or any assets thereof in respect
          of the Outstanding Draw Down Obligations.

     This Clause 3.1 shall not restrict or limit Atlantic Crossing from taking
     any action with respect to enforcing its rights under this Agreement
     following such issue or payment, or enforcing its rights under the Atlantic
     Capacity Agreement after such issue or payment, other than in respect of
     the Outstanding Draw Down Obligations.

     3.2  Global Crossing hereby confirms that, subject to (i) the issuing of
     the Preferred Shares on the Effective Date to Global Crossing Limited and
     the authorization and reservation of an additional number of Common Shares
     in an amount sufficient to allow a full conversion of all of the Preferred
     Shares (or the payment in full of the Preferred Cash Equivalent to Global
     Crossing Limited) on or prior to May 30, 2001, and (ii) TINC's and TBBL's
     compliance with their other obligations under this Agreement (including
     termination of the Standstill Period pursuant to Clause
<PAGE>

     7.3(a)), the Agreed Amount is and shall be the total outstanding liability
     (subject to Clause 3.1) of any Telemonde Group Company to Global Crossing
     as at the date hereof in respect of all liabilities and obligations of such
     Telemonde Group Company accrued or outstanding as at the date hereof under
     the Capacity Agreements (other than in respect of the Outstanding Draw Down
     Obligations) and, during the term of the Standstill Period, and after
     termination of the Standstill Period pursuant to Clause 7.3(a), Global
     Crossing hereby expressly waives the right to recalculate such amount or
     seek to charge any additional sums in respect of services supplied under
     the Capacity Agreements prior to the date hereof. This Clause 3.2 shall not
     restrict or limit Global Crossing from enforcing or pursuing (x) any claims
     under any Capacity Agreement, including any claims in excess of the Agreed
     Amount, upon termination of the Standstill Period other than pursuant to
     Clause 7.3(a), or (y) any claims under any Capacity Agreement in respect of
     services supplied after the date hereof.

4.   TINC and TBBL Obligations

     Each of TINC and TBBL agrees that during the Standstill Period it will not
     and agrees to procure that no Telemonde Group Company shall without Global
     Crossing's consent in writing:

     a)   save for Permitted Borrowings, borrow or raise money or credit of
          whatever nature from any person;

     b)   save for Permitted Encumbrances, give, create or allow to subsist any
          charge, lien, security or encumbrance whatsoever or any cash
          collateral/cash cover or provide any preferential treatment to any
          creditor or give or agree to give any guarantee or indemnity in
          respect of any borrowings or liabilities in the nature of borrowings;
<PAGE>

     c)   enter into any transaction (including, but not limited to, a disposal,
          but excluding a Permitted Borrowing) otherwise than on arm's length
          terms in the ordinary course of business;

     d)   dispose of any interest in any asset, including (for the avoidance of
          doubt) shares in a Telemonde Group Company;

     e)   declare or announce any dividend or make any other income distribution
          to its shareholders;

     f)   purchase or redeem any of its issued shares or repurchase any debt in
          TINC or a Telemonde Group Company;

     g)   issue and sell any equity securities for less than 85% of the then-
          fair market value; and

     h)   prepay, or accelerate the due date of, any indebtedness to any person.

     Each of TINC and TBBL agree that during the Standstill Period it will, and
     agrees to cause each Telemonde Group Company to:

     a)   continue to have all current business conducted through a Telemonde
          Group Company;

     b)   continue to cause each Management Party to devote his full time and
          attention to the business of the Telemonde Group Companies;

     c)   provide Global Crossing, upon request, with financial information on
          TINC and its Subsidiaries, including audited consolidated balance
          sheets, statements of income and cash flow statements, by the 90th day
          following the close of TINC's fiscal year, and with unaudited interim
          consolidated
<PAGE>

          balance sheets, statements of income and cash flow statements, by the
          45th day following the close of TINC's fiscal year; provided, however,
                                                              --------  -------
          that TINC will be deemed to have satisfied this obligation by timely
          providing filings containing such information that have been timely
          filed under the Securities Exchange Act of 1934, as amended; and

     d)   provide Global Crossing, upon request and pursuant to a
          confidentiality agreement in form and scope agreeable to the parties,
          with such additional information about TINC's performance or
          operations as Global Crossing may request.

5.   Payment of Agreed Amount

     a)   TINC will pay or cause to be paid to Global Crossing the following
          sums according by the dates indicated below:

          i)     December 14th, 2000  US$1.4 million
          ii)    28th February 2001   US$0.5 million
          iii)   30th November 2001   US$4.0 million
          iv)    30th November 2002   US$6.0 million

          Each payment shall be paid in cleared funds to Global Crossing's bank
          account details as notified to TINC from time to time.

     b)   In addition, interest on each payment delineated in subclause 5(a),
          above, shall accrue at a rate of 7.00% per annum, compounded annually,
          which interest must be paid in full on or prior to 30th November 2002,
          but may be prepaid in full or in part from time to time at the
          election of TINC.

     c)   In the event that TINC raises additional funding by way of public
          offering or investor financing it shall, where such sums are not
          required for demonstrable working capital
<PAGE>

          purposes, use such sums to pay all or part (as reasonable in the
          circumstances) of the outstanding portion of the Agreed Amount.

6.   Issuance of Preferred Shares

     a)   TINC shall on the Effective Date issue all 5,000,000 of the Preferred
          Shares to Global Crossing Limited and shall enter into the
          Registration Rights Agreement in respect of the Common Shares issuable
          pursuant to a conversion of the Preferred Shares.

     b)   TINC agrees to call a meeting of holders of all holders of shares of
          TINC stock prior to May 30, 2001 in order that a proxy vote may be put
          forth to increase TINC's authorised but unissued share capital and
          authorising the Directors and/or executives of TINC to allot such
          Common Shares in order that it may meet its obligation pursuant to
          clause (i) of Clause 6(c), below.

     c)   On or before May 30, 2001, TINC shall either (i) cause 23,000,000
          Common Shares to have been authorized by all necessary corporate
          action, and shall have reserved such Common Shares for issuance
          pursuant to a conversion of the Preferred Shares, or (ii) pay a sum
          equal to the Preferred Cash Equivalent to Global Crossing Limited.

     d)   If TINC, pursuant to clause c), above, causes 23,000,000 Common Shares
          to have been authorized by all necessary corporate action, and shall
          have reserved such Common Shares for issuance pursuant to a conversion
          of the Preferred Shares, it will at all times continue to segregate
          and reserve that number of Common Shares sufficient to allow all then-
          outstanding Preferred Shares to be converted into Common Shares.
<PAGE>

     e)   If TINC pays the Preferred Cash Equivalent to Global Crossing Limited
          on or before May 30, 2001, Global Crossing Limited shall (and Global
          Crossing shall procure that Global Crossing Limited shall) surrender
          the Preferred Shares to TINC forthwith. If TINC offers to pay the
          Preferred Cash Equivalent to Global Crossing Limited after May 30,
          2001, Global Crossing Limited may, at its sole option, surrender the
          Preferred Shares to TINC in exchange for payment of the Preferred Cash
          Equivalent.

     f)   Global Crossing Limited shall not (and Global Crossing shall procure
          that Global Crossing Limited shall not) elect to convert or attempt to
          convert any Preferred Shares prior to May 30, 2001.

7.   Term of Standstill Period

     7.1  The Standstill Period will commence upon the date hereof and will
     continue until terminated pursuant to Clause 7.3, 7.4, or 8.

     7.2  Telemonde agrees to deliver to Global Crossing (or any other entity
     set forth below) on or prior to December 14, 2000:

     a)   (to Global Crossing Limited) share certificates representing all
          5,000,000 of the Preferred Shares;

     b)   duly executed counterparts of the Registration Rights Agreement;

     c)   duly executed counterparts of the Capacity Commitment Agreement;

     d)   a certificate duly executed by an authorized officer of TINC and TBBL
          certifying that the representations and warranties of TINC and TBBL
          herein are true and correct as of such date;
<PAGE>

     e)   opinions of U.S. and Bermuda counsel, in form reasonably satisfactory
          to Global Crossing, as to (A) TINC and TBBL's due incorporation and
          good standing, (B) TINC and TBBL's due authorization, execution and
          delivery of this Agreement and the Registration Rights Agreement and
          the transactions contemplated hereby and thereby, (C) absence of
          conflict with TINC and TBBL's charter documents and applicable laws,
          (D) receipt of governmental approvals, (E) validity and enforceability
          of this Agreement and the Registration Rights Agreement, and (F) the
          Preferred Shares being validly issued, fully paid and nonassessable;

     f)   guarantees of the punctual observance and performance of TINC and TBBL
          of their obligations hereunder, including TINC's obligation to pay the
          Agreed Amount on the Agreed Dates, by the Telemonde Group Companies
          listed in Schedule 8;

     g)   letter agreements (in form and substance reasonable to Global
          Crossing) from each of the Managing Parties covenanting to devote his
          respective full time and attention to the business of TINC and its
          Affiliates;

     h)   any required third party consents and a written certification and
          warranty from TINC and TBBL that no additional consents, approvals,
          waivers, consents or clearances are required from any third party in
          connection with the execution, delivery and performance of this
          Agreement, the Registration Rights Agreement, the Capacity Commitment
          Agreement, the lease referred to in subclause i), below, and the
          transactions contemplated hereby and thereby;

     i)   a lease, on a form provided by Global Crossing, and in form and
          substance reasonably acceptable to Global Crossing
<PAGE>

          providing for a two year lease of an London-New York STM-1 circuit at
          an initial lease rate of $30,000 per month;

     j)   a summary of all indebtedness of TINC and of TBBL other than
          indebtedness incurred on an arm's length basis in the ordinary course
          of business disclosed in TINC's periodic filings pursuant to the
          Securities Exchange Act of 1934, as amended, certified by an executive
          officer of TINC; and

     k)   a copy of the Certificate of Designation of Series A Preferred Shares
          attached hereto as Schedule 9, certified by the Secretary of State of
          Delaware.

     7.3  The Standstill Period will end upon the earliest to occur of the
     following:

     a)   (i) Payment to Global Crossing of the Agreed Amount and all interest
          due thereupon and (ii) TINC's performance of all actions contemplated
          by Clause 6(a) and by Clause 6(c);

     b)   Forthwith upon any material breach by TINC of the terms of this
          Agreement, including failure to pay any Agreed Amount on any Agreed
          Date;

     c)   Forthwith if any Insolvency Event occurs or is found to exist in
          respect of TINC or any Telemonde Group Company;

     d)   Forthwith upon (i) the default by TINC or any Telemonde Group Company
          of any material indebtedness that results in such indebtedness being
          due and payable, or (ii) the termination of any standstill agreement
          or arrangement with respect to any material indebtedness of TINC or
          any Telemonde Group Company (other than by reason of TINC's
          satisfaction of all obligations thereunder), including
<PAGE>

          termination of the standstill arrangements under that certain
          Standstill letter dated 31 December 1999, as amended, between TINC,
          TNL, and Telemonde International Bandwith Ltd. and MCI Worldcom Global
          Networks U.S., Inc., and MCI Worldcom Global Networks Limited;

     e)   Failure of Telemonde to deliver the items set forth in Clause 7.2 in
          the timescales set forth therein.

     7.4  Notwithstanding anything to the contrary in this Agreement, Global
     Crossing has the right to terminate this Agreement, and the Standstill
     period, in its sole discretion, at any time prior to the Effective Date.

     7.5  TINC shall promptly notify Global Crossing upon the occurrence of any
     event or circumstance resulting in termination of the Standstill Period.

8.   Effect of Termination of the Standstill Period

     a)   In the event of termination of the Standstill Period other than in
          accordance with Clause 7.3(a) or Clause 7.4 above:

          i)    any outstanding part of the Agreed Amount (including any
                interest thereon) shall become immediately due and payable;
          ii)   the Preferred Cash Equivalent shall become immediately due and
                payable;
          iii)  interest may be charged on the total outstanding amount under
                clause I) or clause ii) above, from the date of termination at
                the rate of 3.5% above LIBOR.

          Upon any such termination of the Standstill Period, Global Crossing
          may take any action (including any action it agreed not to take during
          the Standstill Period pursuant to Clause 2)
<PAGE>

               to pursue or enforce any claims or rights under the Capacity
               Agreements, including with respect to the Agreed Amount or the
               Outstanding Draw Down Obligations.

     b)   In the event of termination of the Standstill Period in accordance
          with Clause 7.3(a) above, Global Crossing shall make no demand for or
          take or pursue any proceedings or other claims against TBBL, TINC or
          any other Telemonde Group Company pursuant to or in relation to the
          Capacity Agreements, and the payment of the Agreed Amount, the
          issuance of the Preferred Shares (and the authorization and
          reservation of the applicable number of Common Shares in respect of a
          conversion thereof, or payment of the Preferred Cash Equivalent) and
          the entering into of this Agreement and the Capacity Commitment
          Agreement shall be in full and final settlement of any claims that
          Global Crossing may have pursuant to or in relation to the Atlantic
          Capacity Agreements relating to or arising out of services provided,
          or events occurring, prior to the date hereof, SAVE THAT nothing in
          this Clause shall apply to (i) TBBL's continuing obligation to pay
          ongoing O&M Charges, and (ii) any obligation by TINC, TBBL or any
          other Telemonde Group Company to pay ongoing lease or backhaul charges
          related to activities conducted or services provided on or after the
          date hereof pursuant to any of the Capacity Agreements.

     c)   In the event of a termination of the agreement and of the Standstill
          Period pursuant to Clause 7.4, above, this Agreement will be void and
          of no effect.

9.   Ongoing Operations and Maintenance Charges; Survival of Representations and
   Warranties; Losses

     a)   [Intentionally Omitted]
<PAGE>

     b)  All representations and warranties contained in this Agreement and all
     documents delivered in connection with this Agreement shall survive the
     termination of the Standstill Period.

     c)  TINC and TBBL shall jointly and severally indemnify, defend and hold
     Global Crossing, its affiliates, and each of their respective officers,
     directors, partners, managing directors, affiliates, employees, agents,
     consultants, representatives, successors and assigns harmless from and
     against all claims, losses, liabilities, obligations, payments, damages,
     charges, judgments, fines, penalties, amounts paid in settlement, costs and
     expenses (including, without limitation, interest which may be imposed in
     connection therewith), costs and expenses of investigation, action suits,
     proceedings, demands, assessments and fees, reasonable expenses and
     disbursements of counsel, consultants and other experts, incurred or
     suffered by any of them in connection with the transactions contemplated by
     this Agreement arising, directly or indirectly, from or in connection with:

          (A)  any breach of any representation or warranty made by any TINC,
     TBBL or any Telemonde Group Company in this Agreement and any Registration
     Rights Agreement entered into pursuant to Clause 6(a) or Clause 6(b); and

          (B)  any breach by TINC, TBBL or any Telemonde Group Company of any
     covenant or obligation under this Agreement and any Registration Rights
     Agreement.

     The remedies provided in this Clause 9(c) shall not be exclusive of or
     limit any other remedies that may be available to Global Crossing or any of
     its affiliates.

10.  Representations and warranties
<PAGE>

     Each of TINC and TIBL jointly and severally represents and warrants for
     itself and on behalf of the Telemonde Group Companies that :

     a)   Organization and Good Standing.  It is a corporation duly organized,
          ------------------------------
          validly existing, and in good standing under the laws of its
          jurisdiction of incorporation, with full corporate power and authority
          to conduct its business as it is now being conducted, to own or use
          the properties and assets that it purports to own or use, and to
          perform all its obligations under this Agreement. It and each
          Telemonde Group Company is qualified to do business as a foreign
          corporation and is in good standing under the laws of each state or
          other jurisdiction in which either the ownership or use of the
          properties owned or used by it, or the nature of the activities
          conducted by it, requires such qualification.

     b)   Capitalization.  The authorized equity securities of TINC consist of
          --------------
          145,000,000 shares of common stock, par value $0.001 per share, of
          which 102,575,493 shares are issued and outstanding and 5,000,000
          shares of preferred stock, par value $0.01 per share of which 0 shares
          are issued and outstanding. All of the outstanding equity securities
          of TINC have been duly authorized and validly issued and are fully
          paid and nonassessable. Upon issuance, the Preferred Shares, and all
          Common Shares issued upon conversion thereof, shall be duly
          authorized, validly issued, fully paid and nonassessable. Other than
          this Agreement, and except as set forth in this clause b), there are
          no contracts, agreements or other arrangements relating to the
          issuance, sale or transfer of the Common Shares or Preferred Shares.
          In addition to this Agreement, there are (i) pre-existing commitments
          by TINC to sell 15,684,821Common Shares, and (ii) 6,250,000 Common
          Shares reserved for possible conversion under indebtedness agreements
          to which TINC is a party.
<PAGE>

     c)   Litigation.  Save as set out in Schedule 7, there are no legal or
          ----------
          other proceedings pending against it or any Telemonde Group Company
          and so far as it is aware, no such claims are threatened, before any
          court, tribunal, commission or regulatory authority.

     d)   Authority.  It has the necessary powers and authority to enter into
          ---------
          this Agreement and to perform its obligations hereunder. It will, as
          of December 14, 2000, have the necessary powers and authority to enter
          into the Registration Rights Agreement, as applicable, and to perform
          its obligations hereunder. This Agreement and the Registration Rights
          Agreement constitute (and in the case of the Registration Rights
          Agreement, will constitute as of December 14, 2000) its legal, valid
          and binding obligations, enforceable against it in accordance with its
          terms, except as limited by (A) applicable bankruptcy, insolvency,
          reorganization, moratorium, fraudulent conveyance or similar laws
          relating to or affecting the rights and remedies of creditors and
          debtors and (B) equitable principles generally, regardless of whether
          such principles are considered in a proceeding at equity or at law.

     e)   Required Consents.  It has obtained all consents, approvals, waivers,
          -----------------
          consents and clearances of all third parties, including all
          governmental, judicial and regulatory bodies and authorities, required
          in connection with the execution, delivery and performance of this
          Agreement, the Registration Rights Agreement and the transactions
          contemplated hereby and thereby.

     f)   No Conflict.  There is no law, decree or similar enactment binding
          -----------
          on it or any Telemonde Group Company and no provision in any charter
          or corporate document, mortgage,
<PAGE>

          debenture, trust deed, contract or agreement which would prevent or
          affect it or any Telemonde Group Company from executing and
          delivering, observing or performing any of its or their (as relevant)
          obligations under, this Agreement and the Registration Rights.

     g)   Other Credit Facilities.  There are no undrawn facilities available
          -----------------------
          to TINC or any Telemonde Group Company.

11.  Assignment

     Global Crossing may assign or transfer its obligations to any company that
     is an Affiliate of Global Crossing , but not otherwise and Global Crossing
     agrees to procure that the oligations and agreements herein on behalf of
     Global Crossing apply to any such affiliate .   TINC may not assign any of
     its rights or obligations hereunder.

12.  Notices

     a)   Notices for TINC and TBBL shall be sent to:

     Telemonde Inc
     40 Portman Square
     London  W1H 9FH

     Fax:  +44 (0)20 7487 4001
     FAO:  Director of Legal Services

     b)   Notices for Global Crossing shall be sent to:

     Global Crossing USA Inc
     Attention: General Counsel
     360 N. Crescent Dr.
     Beverly Hills, CA  90210
<PAGE>

     TBBL hereby confirms that TINC at the address above is authorised to accept
     notices on its behalf.

     Global Crossing hereby confirms that Global Crossing USA at the address
     above is authorised to accept notices on its behalf.

     Notices may be delivered personally, sent by registered post or facsimile.
     Any such notice shall be deemed to have been received:

     a)   If delivered personally, at the time of delivery
     b)   If communicated by facsimile, upon receipt by the sender of a
          facsimile transmission report (or other appropriate evidence)
          indicating successful transmission
     c)   If sent by registered post, at the time of receipt

     PROVIDED THAT where in the case of delivery by hand or facsimile
     transmission, receipt (or deemed receipt) occurs after 6.00pm on a Business
     Day or on a day which is not a Business Day, receipt shall be deemed to
     have occurred at 9.00am on the next following Business Day

13.  Payments

     If any payment under this Agreement falls on a day which is not a Business
     Day, the payment shall be made on the next succeeding Business Day, save
     where such day falls in the next month in which case, payment shall be made
     on the immediately preceeding Business Day.

     All payments shall be made in $US in immediately cleared funds into such
     account as notified to TINC from time to time.

     Each payment to be made to Global Crossing under this Agreement shall be
     made free and clear of and without deduction, withholding
<PAGE>

     or set-off whatsoever, including for or on account of taxes, unless the
     payer is required by law to make such payment subject to a deduction or
     withholding. If the payer is required by law to make a deduction or
     withholding from such a payment, the relevant sum payable by the payer
     shall be increased by an additional amount to the extent necessary to
     ensure that, after the making of such deduction or withholding, Global
     Crossing receives and retains (free from any liability in respect of any
     such deduction or withholding) a net sum equal to that which it would have
     received and so retained had no such deduction or withholding been made or
     required to be made.

14.  Variation; Waiver; Entire Agreement

     No variation of this Agreement shall be effective unless such variation
     shall have been made in writing and signed by a duly authorised officer of
     each party.  "Variation" shall include any variation, supplement, deletion,
     replacement or amendment however effected.  No waiver of a breach of the
     terms of this Agreement or any default hereunder shall be deemed a waiver
     of any subsequent breach or default or in any way affect any other terms of
     this Agreement.  This Agreement (along with the documents referred to in
     this Agreement) constitutes a complete and exclusive statement of the terms
     of the agreement between the parties with respect to its subject matter.

     Global Crossing Limited is an intended third party beneficiary of this
     Agreement.

15.  Costs

     Each party shall bear its own costs in connection with the negotiation,
     preparation and execution and implementation of this Agreement (including,
     without limitation, fees and disbursements of legal, accountancy and other
     advisors).
<PAGE>

16.  Confidentiality and announcements

     a)   Except as required by law, any regulatory or governmental body or
          authority, or as made to professional advisers, no announcement,
          statement or information shall be issued by either party save in terms
          agreed by the other PROVIDED THAT each party agrees not to
          unreasonably withhold or delay its consent to any press release
          proposed to be issued by any other party to accompany any regulatory
          filing required to be made following completion of this Agreement.
          Any party may disclose the terms of this Agreement for the purpose of
          enforcing its terms or the terms of any document referred to in or
          contemplated by it.

     b)   Global Crossing jointly and severally agree to keep confidential any
          information supplied to it or any of them in connection with the
          matters herein contained or otherwise save (i) where such information
          is or becomes in the public domain (other than by a breach of
          confidentiality by Global Crossing); or (ii) where such disclosure is
          required by law or any regulatory or governmental authority or body;
          or (iii) where the disclosure is agreed by TINC in writing in advance;
          or (iv) that it may disclose such information under professional
          advisers who are under similar duties or obligations of
          confidentiality.

17.  Counterparts

     This Agreement may be signed in any number of counterparts and by different
     parties on separate counterparts which when taken together shall be deemed
     to constitute one Agreement.

18.  Law and Venue; Service of Process
<PAGE>

     This Agreement will be governed by and construed and enforced in accordance
     with the laws of the State of New York.  Any action or proceeding seeking
     to enforce any provision of, or based on any right arising out of, this
     Agreement, may be brought against any of the parties in the courts of the
     State of New York, County of New York, or, if it has or can acquire
     jurisdiction, in the United States District Court for the Southern District
     of New York, and each of the parties irrevocably consents to the
     jurisdiction of such courts (and of the appropriate appellate courts) in
     any such action or proceeding and waivers any objection to venue laid
     therein.  Any  notice of legal process will be deemed sufficiently served
     on TINC or any Telemonde Group Company if delivered to it at its address
     for notices.

                 [Remainder of page intentionally left blank.]

EXECUTED BY THE PARTIES ON THE DAY AND DATE SET OUT ABOVE

/s/ Kevin Maxwell
 .................................
For and on behalf of
Telemonde Inc

/s/ Michael Collins
 ...................................
For and on behalf of
Telemonde Bandwidth (Bermuda) Limited
<PAGE>

 ...................................
For and on behalf of
Global Crossing USA Inc

/s/ Jackie Armstrong
 ......................................
For and on behalf of
Atlantic Crossing Limited

/s/ Jackie Armstrong
 ......................................
For and on behalf of
GT UK Ltd

 ......................................
For and on behalf of
GT Lending Corp

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