Document:

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                                                                     EXHIBIT 4.8

                             SDS MERCHANT FUND, L.P.
                          c/o SDS Capital Partners, LLC
                         53 Forest Avenue, Second Floor
                        Old Greenwich, Connecticut 06870
                                 (203) 967-5850

                                                                    July 2, 2002
Vertel Corporation
21300 Victory Boulevard

Suite 700
Woodland Hills, California 91367
Attention: President and Chief Executive Officer

     Re:  Note and Warrant Purchase Agreement dated as of August 31, 2001
          ---------------------------------------------------------------

Gentlemen:

     Reference is hereby made to the (i) Note and Warrant Purchase Agreement
(the "2001 Purchase Agreement") dated as of August 31, 2001 between Vertel
Corporation (the "Company") and SDS Merchant Fund, L.P. ("SDS"); (ii) the
Convertible Promissory Note dated January 3, 2002 issued to SDS (the "Note");
(iii) the Warrant dated August 31, 2001 issued to SDS (the "Warrant"); and (iv)
the Lock-Up Agreement between the Company and certain shareholders of the
Company dated as of August 31, 2001 (the "Lock-Up Agreement"). Capitalized terms
used and not otherwise defined herein shall have the meanings set forth for such
terms in the 2001 Purchase Agreement.

     You have advised us that the Company has transferred the listing of its
Common Stock from The Nasdaq National Market to The Nasdaq SmallCap Market (the
"Transfer Event"). The Transfer Event constitutes a breach of certain covenants
under the 2001 Purchase Agreement and constitutes an event of default and
triggering event under the Note. You have requested us to waive our rights under
the 2001 Purchase Agreement and Note in connection with the Transfer Event.
Accordingly, SDS hereby waives its rights and remedies under Section 3.2 and
Section 3.15 of the Purchase Agreement and Section 2.1 and Section 3.7(g)(iii)
of the Note. Notwithstanding the foregoing, this Waiver shall in no way affect
the terms and provisions of the Lock-Up Agreement.

     Section 9 of the Warrant defines the term "Nasdaq" to mean The Nasdaq
National Market. In connection with the Transfer Event, SDS hereby agrees that
the definition of "Nasdaq" in the Warrant shall mean The Nasdaq National Market
or The Nasdaq SmallCap Market.

     Pursuant to Section 2.1(aa) of that certain Note and Warrant Purchase
Agreement to be entered into by and between the Company and SDS (the "2002
Purchase Agreement"), the Company is obligated to use $1,500,000 of the proceeds
from the sale of a convertible promissory note and accompanying warrant to SDS
to repay outstanding indebtedness owed to SDS under the Note. Section 3.7(m) of
the Note entitles SDS to a prepayment premium of 115%

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in the event the Company prepays all or any portion of the Note and to ninety
(90) days written notice of prepayment. SDS hereby waives its rights under
3.7(m) of the Note in connection with the Company's prepayment of $1,500,000 of
the principal amount of the Note pursuant to the 2002 Purchase Agreement, and
the Company shall not be obligated to pay any prepayment premium on such
$1,500,000 prepayment.

                                              Sincerely,

                                              SDS MERCHANT FUND, L.P.

                                              By: _____________________________
                                                  Name: Steve Derby
                                                  Title:   Managing Member

                                      -2-<PAGE>

                                                                     EXHIBIT 4.9

                             SDS MERCHANT FUND, L.P.
                          c/o SDS Capital Partners, LLC
                         53 Forest Avenue, Second Floor
                        Old Greenwich, Connecticut 06870
                                 (203) 967-5850

                                                                    July 2, 2002

Vertel Corporation
21300 Victory Boulevard

Suite 700
Woodland Hills, California 91367
Attention: President and Chief Executive Officer

     Re:  Note and Warrant Purchase Agreement dated as of August 31, 2001
          ---------------------------------------------------------------

Gentlemen:

     Reference is hereby made to (i) the Note and Warrant Purchase Agreement
(the "2001 Purchase Agreement") dated as of August 31, 2001 between Vertel
Corporation (the "Company") and SDS Merchant Fund, L.P. ("SDS"); (ii) the
Convertible Promissory Note dated January 3, 2002 issued to SDS (the "Note");
(iii) the Warrant dated August 31, 2001 issued to SDS (the "Warrant") and (iv)
the Registration Rights Agreement (the "Registration Rights Agreement") dated as
of August 31, 2001 between the Company and SDS. Capitalized terms used and not
otherwise defined herein shall have the meanings set forth for such terms in the
2001 Purchase Agreement.

     SDS hereby waives Section 3.11 of the 2001 Purchase Agreement and Section
3.6(h) of the Note with respect to the requirement that the Company reserve and
continue to reserve 200% of the maximum number of shares of Common Stock
issuable upon conversion of the Note and upon exercise of the Warrant; provided,
however, within one business day of the date that the Company files the Charter
Amendment (as defined in the Note and Warrant Purchase Agreement dated July 2,
2002 between the Company and SDS) with the California Secretary of State, the
Company shall take all action necessary to authorize and reserve for the purpose
of issuance, a number of shares of Common Stock, when aggregated with the
initial 16,065,343 shares of Common Stock previously reserved, equals at least
200% of the maximum number of shares of Common Stock to effect the conversion of
the Note and exercise of the Warrant as of such date.

     SDS hereby acknowledges that the failure of the Company to continue to
reserve 200% of the maximum number of shares of Common Stock issuable upon
conversion of the Note and upon exercise of the Warrant until one business day
of the date that the Company files the Charter Amendment shall not be deemed a
default or a breach of any covenant under the Note, the 2001 Purchase Agreement,
the Warrant or the Registration Rights Agreement.

<PAGE>

     If the foregoing comports with your understanding of our agreement, please
so indicate by signing this letter agreement in the space provided below,
whereupon this letter agreement shall evidence the binding obligations between
us.

                                              Sincerely,

                                              SDS MERCHANT FUND, L.P.

                                              By: _____________________________
                                                  Name: Steve Derby
                                                  Title: Managing Member

Acknowledged and agreed:

VERTEL CORPORATION

By: ___________________________
    Name:
    Title:

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Exhibit 10.1    
  

Smurfit-Stone Container Corporation

150 North Michigan Avenue

Chicago, IL 60601  

July 2, 2002 

Jefferson
Smurfit Group plc

Beech Hill

Clonskeagh

Dublin 4, Ireland 

and

Smurfit
International B.V.

Fred. Roeskestraat 123

Amsterdam 1076 EE, The Netherlands

Gentlemen: 

        Reference
is made to that certain Registration Rights Agreement dated as of May 10, 1998 (the "Agreement") among Smurfit-Stone Container Corporation (formerly known as Jefferson
Smurfit Corporation) (the "Company"), Smurfit International B.V. ("SIBV") and the other signatories thereto. 

        All
terms used herein with their initial letter capitalized shall have the meanings set forth in the Agreement, unless otherwise defined herein. 

        Pursuant
to Section 2 of the Agreement, on June 17, 2002, SIBV, on behalf of itself and Jefferson Smurfit Group, plc ("JSG"), made a written request of the Company to
initiate a Registration Process with respect to all of the Registrable Securities held by SIBV and JSG, comprised of 71,638,462 shares of Common Stock. 

        On
June 19, 2002 the Company filed a Form S-3 (as amended from time to time, the "Registration Statement") with the SEC covering all of the Registrable
Securities held by SIBV and JSG. As more fully set forth in the Plan of Distribution section contained in the Registration Statement, immediately prior to the distribution by JSG of the shares of
Common Stock to the holders of JSG ordinary shares (including JSG ordinary shares represented by American Depository Receipts) (the "Distribution"), SIBV intends to transfer to JSG all of its
Registrable Securities. JSG acknowledges and agrees with the Company that, for purposes of the Registration Statement, JSG is a "Selling Holder" as that term is defined in the Agreement. 

        The
information set forth under the captions "Material United States Federal Income Tax Consequences" and "Plan of Distribution" in the Prospectus forming a part of the Registration
Statement constitute information relating to SIBV and JSG that has been furnished to the Company in writing by or on behalf of SIBV and JSG expressly for use in the preparation of the Registration
Statement (or in the preliminary or final prospectus included therein) for purposes of Section 10(b) of the Agreement. 

        SIBV
and JSG further acknowledge and agree with the Company that the term "net proceeds" as used in the last sentence of Section 10(b) of the Agreement shall mean with respect to
the Distribution the aggregate market value of the Registrable Securities distributed to the JSG shareholders in the Distribution. The market value shall be based upon the last reported sale price of
a share of Common Stock as quoted on the NASDAQ National Market on the date immediately preceding the effective date of the Distribution. 

        Except
as expressly provided for herein, all terms and provisions of the Agreement shall be in full force and effect and not amended or modified hereby. 

        Separately
from the Registration Statement, JSG intends to distribute to its shareholders (i) a shareholder circular (the "Circular") under Irish law for a meeting of shareholders
of JSG at which certain matters related to the Distribution and to the offer by MDCP Acquisitions I for all the issued
and to be issued share capital of JSG (the "Offer") will be considered and (ii) a Schedule 14D-9 to be filed with the SEC that sets forth the response of JSG to the Offer
(the "14D-9"). The Circular and the 14D-9, together with any amendments thereof or supplements thereto and any documents incorporated by reference therein are collectively
referred to herein as the "Materials". JSG hereby agrees to indemnify and hold harmless SSCC and its officers and directors from and against any and all claims, liabilities, losses, damages, expenses
and judgments, joint or several, arising out of the Materials to the same extent as the indemnity set forth in Section 10(b) of the Agreement would apply if the Materials constituted
information relating to SIBV and JSG furnished to the Company in writing by or on behalf of SIBV and JSG expressly for use in the preparation of the Registration Statement (or in the preliminary or
final prospectus included therein). In addition, the procedural provisions of Sections 10(c) and 10(d) of the Agreement, and the miscellaneous provisions of Section 12 of the Agreement, shall
apply to the indemnity set forth in this paragraph. 

        This
letter agreement may be executed in any number of counterparts, each of which shall be deemed to be an original but all of which together shall be one and the same instrument. 

	 	 	SMURFIT-STONE CONTAINER CORPORATION
	

 	
 	

By:	
 	

/s/ Craig A. Hunt

	 	 	Title:	 	Vice President, General Counsel and Secretary
	

Acknowledged and agreed to this 2nd day of July, 2002.
	

 	
 	

SMURFIT INTERNATIONAL B.V.
	

 	
 	

By:	
 	

/s/ Nicholas Foley

	 	 	Title:	 	Authorized Representative
	

 	
 	

JEFFERSON SMURFIT GROUP PLC
	

 	
 	

By:	
 	

/s/ Michael O'Riordan

	 	 	Title:	 	Authorized Representative

QuickLinks

Exhibit 10.1

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