Document:

EXHIBIT 4.2

                              ARTICLES OF AMENDMENT
                                  TO THE SECOND
                              AMENDED AND RESTATED
                            ARTICLES OF INCORPORATION
                                       OF
                                 WORLDCOM, INC.

                                       1.

      The name of the Corporation is WorldCom, Inc.

                                       2.

      Effective the date hereof, Section A of Article Four of the Second Amended
and Restated Articles of Incorporation of the Corporation, as amended, is hereby
amended by deleting the text thereof and substituting therefor the text of the
amendment attached hereto as Exhibit A.

                                       3.

      All other provisions of the Second Amended and Restated Articles of
Incorporation, as previously amended, shall remain in full force and effect.

                                       4.

      The provisions of Section A of Article Four of the Second Amended and
Restated Articles of Incorporation, as amended, were duly approved by the
shareholders of the Corporation in accordance with the provisions of Section
14-2-1003 of the Georgia Business Corporation Code on the 7th day of June, 2001.

                                       5.

      The provisions of Section A of Article Four of the Second Amended and
Restated Articles of Incorporation, as amended, were duly adopted and authorized
by the Board of Directors of the Corporation on October 31, 2000.

        IN WITNESS WHEREOF, the Corporation has caused these Articles of
Amendment to be executed by its duly authorized officer, this 7th day of June,
2001.

                                              WORLDCOM, INC.

                                              By: /s/ Bernard J. Ebbers
                                                   ---------------------
                                                   Name: Bernard J. Ebbers
                                                   Title: President

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                                              EXHIBIT A

            (A) Common Stock. There shall be two series of common stock created,
having the number of shares and the voting powers, preferences, designations,
rights, qualifications, limitations or restrictions set forth below:

            (i) WorldCom Stock. One series of common stock of the Corporation is
      hereby created and designated as "WorldCom, Inc.--WorldCom Group Common
      Stock" ("WorldCom Stock") consisting of 4.85 billion shares.

            (ii) MCI Stock. One series of common stock of the Corporation is
      hereby created and designated as "WorldCom, Inc.--MCI Group Common Stock"
      ("MCI Stock") consisting of 150 million shares.

            (iii) Upon the date on which this Section A of Article 4 shall
      become effective, and without any further action on the part of the
      Corporation or its stockholders, each share of the Corporation's common
      stock, par value $0.01 per share, that is issued and outstanding shall be
      changed into one share of WorldCom Stock and 1/25 (0.04) of a share of MCI
      Stock.

            (iv) For the purpose of making "lawful and adequate provision" to
      implement the existing right of the holders of the Company's Series B
      Convertible Preferred Stock to acquire and receive upon the conversion of
      the Series B Convertible Preferred Stock such shares of stock issuable
      with respect to or in exchange for each outstanding share of the Company's
      "Common Stock" (as such term is defined in Exhibit B to these Second
      Amended and Restated Articles of Incorporation) as would have been
      received upon conversion of the Series B Convertible Preferred Stock at
      the "Conversion Rate" (as such term is defined in Section 5(a) of said
      Exhibit B) then in effect, all references to a share of "Common Stock" of
      the Company in Section 5 and Section 7 of Exhibit B shall be deemed, from
      and after the date on which this Section A of Article 4 shall become
      effective, to refer to one share of WorldCom Stock and 0.04 of a share of
      MCI Stock (or such other number and designation of shares as may then be
      applicable following lawful adjustment pursuant to Section 6 of Exhibit
      B).

            Section 1. Distributions and Share Dividends. Subject to the prior
and superior or other rights of the holders of the preferred stock or any other
shares of the Corporation and subject to the limitations provided for below in
this Section 1, distributions and share dividends may be declared and paid upon
either series of common stock, as the board of directors may determine and with
the effect provided for in these Second Amended and Restated Articles of
Incorporation.

            (A) Distributions on WorldCom Stock. Distributions on WorldCom Stock
may be declared and paid only out of the lesser of:

            (i) the funds legally available for that purpose; and

            (ii) the WorldCom Group Available Distribution Amount.

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            (B) Distributions on MCI Stock. Distributions on MCI Stock may be
declared and paid only out of the lesser of:

            (i) the funds legally available for that purpose; and

            (ii) the MCI Group Available Distribution Amount.

            (C) Additional Limitations on Distributions and Share Dividends. The
board of directors may declare and pay share dividends of WorldCom Stock and MCI
Stock (or distributions of Convertible Securities convertible into or
exchangeable or exercisable for shares of WorldCom Stock or MCI Stock) or
distributions of assets (including securities) or properties attributed to the
WorldCom Group or the MCI Group on shares of common stock only as follows or as
permitted by Section 4:

            (i) on shares of WorldCom Stock-share dividends of WorldCom Stock
      (or distributions of Convertible Securities convertible into or
      exchangeable or exercisable for shares of WorldCom Stock) or distributions
      of assets (including securities) or properties attributed to the WorldCom
      Group;

            (ii) on shares of MCI Stock-share dividends of MCI Stock (or
      distributions of Convertible Securities convertible into or exchangeable
      or exercisable for shares of MCI Stock) or distributions of assets
      (including securities) or properties attributed to the MCI Group.

            (iii) on shares of MCI Stock-share dividends of WorldCom Stock (or
      distributions of Convertible Securities convertible into or exchangeable
      or exercisable for shares of WorldCom Stock), but only if (x) the MCI
      Group is a Holder Group holding an Inter-Group Interest in the WorldCom
      Group and (y) the sum of:

                  (1) the number of shares of WorldCom Stock to be so issued (or
            the number of such shares that would be issuable upon conversion,
            exchange or exercise of any Convertible Securities to be so issued);
            and

                  (2) the number of shares of WorldCom Stock that are issuable
            upon conversion, exchange or exercise of any Convertible Securities
            then outstanding that are attributed as a liability to, or an equity
            interest in, the MCI Group

      is less than or equal to the Number of Shares Issuable with Respect to the
      Inter-Group Interest in the WorldCom Group held by the MCI Group;

            (iv) on shares of WorldCom Stock-share dividends of MCI Stock (or
      distributions of Convertible Securities convertible into or exchangeable
      or exercisable for shares of MCI Stock), but only if (x) the WorldCom
      Group is a Holder Group holding an Inter-Group Interest in the MCI Group
      and (y) the sum of:

                  (1) the number of shares of MCI Stock to be so issued (or the
            number of such shares that would be issuable upon conversion,
            exchange or exercise of any Convertible Securities to be so issued);
            and

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               (2) the number of shares of MCI Stock that are issuable upon
          conversion, exchange or exercise of any Convertible Securities then
          outstanding that are attributed as a liability to, or an equity
          interest in, the WorldCom Group

      is less than or equal to the Number of Shares issuable with Respect to the
      Inter-Group Interest in the MCI Group held by the WorldCom Group;

            (v) on shares of MCI Stock-distributions of assets (including
      securities) or properties attributed as an asset to the WorldCom Group,
      but only if the number or amount of such assets (including securities) or
      properties to be so paid is less than or equal to the product of:

                  (1) the number or amount of such assets (including securities)
            or properties to be paid concurrently to holders of outstanding
            WorldCom Stock; and

                  (2) a fraction (which may be greater than one), the numerator
            of which is equal to the Number of Shares Issuable with Respect to
            the Inter-Group Interest in the WorldCom Group held by the MCI Group
            and the denominator of which is equal to the number of outstanding
            shares of WorldCom Stock, in each case, on the record date for such
            distribution; and

            (vi) on shares of WorldCom Stock-distributions of assets (including
      securities) or properties attributed as an asset to the MCI Group, but
      only if the number or amount of such assets (including securities) or
      properties to be so paid is less than or equal to the product of:

                  (1) the number or amount of such assets (including securities)
            or properties to be paid concurrently to holders of outstanding MCI
            Stock; and

                  (2) a fraction (which may be greater than one), the numerator
            of which is equal to the Number of Shares Issuable with Respect to
            the Inter-Group Interest in the MCI Group held by the WorldCom Group
            and the denominator of which is equal to the number of outstanding
            shares of MCI Stock, in each case, on the record date for such
            distribution.

            For purposes of this Section l(C), any outstanding Convertible
Securities that are convertible into or exchangeable or exercisable for any
other Convertible Securities which are themselves convertible into or
exchangeable or exercisable for any series of common stock (or other Convertible
Securities that are so convertible, exchangeable or exercisable) shall be deemed
to have been converted, exchanged or exercised in full for such Convertible
Securities.

            (D) Discrimination Between Series of Common Stock. The board of
directors, subject to the provisions of this Section 1, may at any time declare
and pay distributions and share dividends exclusively on WorldCom Stock or
exclusively on MCI Stock, in equal or unequal amounts, notwithstanding the
relationship between the Available Distribution Amount with respect to either
Group, the amount of distributions and share dividends previously declared or
paid on either series, the respective voting or liquidation rights of either
series or other factor.

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            Section 2. Voting Rights.

            (A) General. Except as otherwise provided by law, by the terms of
any outstanding preferred stock or by any provision in these Second Amended and
Restated Articles of Incorporation allocating the power to vote on a specified
matter to other shareholders or in a different manner, the common stock shall
together have unlimited voting rights. Both series of common stock shall vote on
all matters together as a single voting group, except as otherwise provided by
law or by any provision in these Second Amended and Restated Articles of
Incorporation.

            (B) Number of Votes for Each Series of Common Stock. On each matter
to be voted on by the holders of each series of common stock voting together as
a single voting group, the number of votes per share of each series shall be as
follows:

            (i) each outstanding share of WorldCom Stock shall have one vote;
      and

            (ii) each outstanding share of MCI Stock shall have a number of
      votes (including a fraction of one vote) equal to the quotient, rounded to
      the nearest 1/10,000 (.0001), of (1) the average Market Value of one share
      of MCI Stock during the 20-Trading Day period ending on the tenth Trading
      Day prior to the record date for determining the shareholders entitled to
      vote, divided by (2) the average Market Value of one share of WorldCom
      Stock during such 20-Trading Day period.

Notwithstanding the foregoing provisions of this Section 2(B), if shares of only
one series of common stock are outstanding on the record date for determining
the holders of common stock entitled to vote on any matter, then each share of
that series shall be entitled to one vote and, if either series of common stock
is entitled to vote as a separate voting group with respect to any matter, each
share of that series shall, for the purpose of such vote, be entitled to one
vote on such matter.

            Section 3. Liquidation Rights.

            (A) General. In the event of any voluntary or involuntary
dissolution of the Corporation, after payment or provision for payment of the
debts and other liabilities of the Corporation and after making provision for
any outstanding preferred stock and any other shares prior and superior to
common stock as to payments upon dissolution (regardless of the Group to which
such shares are attributed), the holders of WorldCom Stock and MCI Stock shall
be entitled to receive the net assets of the Corporation remaining for
distribution to holders of the common stock (regardless of the Group to which
such assets are then attributed) in an amount determined on a per share basis in
proportion to the liquidation units per share of such series.

            For purposes of this Section 3, neither (x) the voluntary sale,
lease, exchange or other disposition of all or substantially all of the property
or assets of the Corporation; (y) a merger of the Corporation or a share
exchange by the Corporation with one or more other corporations (whether or not
the Corporation is the corporation surviving such merger or the acquiring
company in such share exchange); nor (z) any transaction or event pursuant to
Section 4 shall be deemed a voluntary or involuntary dissolution of the
Corporation.

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            (B) Liquidation Units for Each Series of Common Stock. The
liquidation units per share of each series of common stock shall be as follows:

            (i) each share of WorldCom Stock shall have one liquidation unit;
      and

            (ii) each share of MCI Stock shall have 1/25 of one liquidation
      unit.

provided that, if the Corporation shall in any manner subdivide (by stock split,
reclassification or otherwise) or combine (by reverse stock split,
reclassification or otherwise) the outstanding shares of either series of common
stock, or declare and pay a share dividend of either series of common stock to
holders of such series, the per share liquidation units of the series of common
stock, as adjusted from time to time, shall be appropriately adjusted, as
determined by the board of directors, so as to avoid any dilution in the
aggregate, relative liquidation rights of the shares of either series of common
stock.

            Section 4. Special Distributions on, and Conversion or Redemption
of, WorldCom Stock and MCI Stock.

            (A) Special Distributions on, and Conversion or Redemption of,
WorldCom Stock if a Disposition of All or Substantially All Assets of the
WorldCom Group Occurs.

            (i) In the event of the Disposition, in one transaction or a series
      of related transactions (other than in one or a series of Excluded
      Transactions), by the Corporation and/or its subsidiaries of all or
      substantially all of the businesses, assets, properties and liabilities
      attributed to the WorldCom Group, the Corporation shall, on or prior to
      the 120th Trading Day after the Disposition Date, as determined by the
      board of directors in its sole discretion:

                  (1) provided that there are funds legally available for the
            purpose:

                        (a) subject to compliance with Section 1, pay to the
                  holders of the shares of WorldCom Stock a distribution pro
                  rata in accordance with the number of shares of WorldCom Stock
                  held by each such holder in cash and/or securities or other
                  property having a Fair Value as of the Disposition Date in the
                  aggregate equal to the product of:

                              (x) the Outstanding Interest Fraction with respect
                        to WorldCom Stock as of the record date for determining
                        holders entitled to receive such distribution; and

                              (y) the Fair Value as of the Disposition Date of
                        the Net Proceeds of such Disposition; or

                        (b) (I) subject to the last sentence of this Section
                  4(A)(i), if such Disposition involves all (not merely
                  substantially all) of the businesses, assets, properties and
                  liabilities attributed to the WorldCom Group, redeem or
                  exchange as of the Redemption Date, determined as provided by
                  Section 4(G)(iii)(2), all outstanding shares of WorldCom Stock
                  in

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                  exchange for, on a pro rata basis, cash and/or securities
                  (other than shares of a series of common stock) or other
                  property having a Fair Value as of the Disposition Date in the
                  aggregate equal to the product of:

                              (x) the Outstanding Interest Fraction with respect
                        to WorldCom Stock as of the record date for determining
                        holders entitled to receive such distribution; and

                              (y) the Fair Value of the Disposition Date of the
                        Net Proceeds of such Disposition; or

                        (II) subject to the last sentence of this Section
                  4(A)(i), if such Disposition involves substantially all (but
                  not all) of the businesses, assets, properties and liabilities
                  attributed to the WorldCom Group, redeem or exchange as of the
                  Redemption Date, determined as provided by Section
                  4(G)(iv)(2), the number of whole shares of WorldCom Stock
                  equal to the lesser of:

                              (x) the number of shares of WorldCom Stock
                        outstanding; and

                              (y) such number of shares of WorldCom Stock as
                        have in the aggregate an average Market Value during the
                        period of ten consecutive Trading Days beginning on the
                        51st Trading Day immediately succeeding the Disposition
                        Date closest to the product of:

                                    (AA) the Outstanding Interest Fraction with
                              respect to WorldCom Stock as of the record date
                              for determining such shares selected for
                              redemption or exchange; and

                                    (BB) the Fair Value as of the Disposition
                              Date of the Net Proceeds of such Disposition,

in exchange for, on a pro rata basis, cash and/or securities (other than shares
of a series of the Corporation's common stock) or other property having a Fair
Value as of the Disposition Date in the aggregate equal to such product; or

            (2) declare that each outstanding share of MCI Stock shall be
      converted as of the Conversion Date, determined as provided by Section
      4(G)(v)(2), into a number of fully paid and nonassessable shares of
      WorldCom Stock, equal to the ratio, rounded to the nearest 1/10,000
      (.0001), of the average Market Value of one share of MCI Stock over the
      period of ten consecutive Trading Days beginning on the 51st Trading Day
      following the Disposition Date to the average Market Value of one share of
      WorldCom Stock during such ten-Trading Day period.

Notwithstanding the foregoing provisions of this Section 4(A)(i), the
Corporation shall redeem or exchange shares of WorldCom Stock as provided by
Section 4(A)(i)(1)(b)(I) or (II) only if the

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amount to be paid in redemption or exchange of such stock is less than or equal
to the WorldCom Group Available Distribution Amount as of the Redemption Date.

            (ii) For purposes of this Section 4(A):

                  (1) as of any date, "substantially all of the businesses,
            assets, properties and liabilities" attributed to the WorldCom Group
            shall mean a portion of such businesses, assets, properties and
            liabilities that represents at least 80% of the Fair Value of the
            businesses, assets, properties and liabilities attributed to the
            WorldCom Group as of such date;

                  (2) in the case of a Disposition of the businesses, assets,
            properties and liabilities attributed to the WorldCom Group in a
            series of related transactions, such Disposition shall not be deemed
            to have been consummated until the consummation of the last of such
            transactions; and

                  (3) the board of directors may pay any distribution or
            redemption price referred to in Section 4(A)(i)(1) in cash,
            securities (other than shares of a series of the Corporation's
            common stock) or other property, regardless of the form or nature of
            the proceeds of the Disposition.

                  (iii) After the payment of any distribution or redemption
            price with respect to the WorldCom Stock as provided for by Section
            4(A)(i)(l), the board of directors may declare that each share of
            WorldCom Stock remaining outstanding shall be converted as of a
            Conversion Date, determined as provided by Section 4(G)(v)(2), into
            a number of fully paid and nonassessable shares of MCI Stock equal
            to the ratio, rounded to the nearest 1/10,000 (.0001), of the
            average Market Value of one share of WorldCom Stock during the
            period of 20 consecutive Trading Days ending on the fifth Trading
            Day immediately preceding the date of the notice of such conversion
            required by Section 4(G)(v) to the average Market Value of one share
            of MCI Stock during such 20-Trading Day period.

            (B) Special Distributions on, and Conversion and Redemption of, MCI
Stock If a Disposition of All or Substantially All Assets of the MCI Group
Occurs.

            (i) In the event of the Disposition, in one transaction or a series
      of related transactions (other than in one or a series of Excluded
      Transactions), by the Corporation and/or its subsidiaries of all or
      substantially all of the businesses, assets, properties and liabilities
      attributed to the MCI Group, the Corporation shall, on or prior to the
      120th Trading Day after the Disposition Date, as determined by the board
      of directors in its sole discretion:

                  (1) provided that there are funds legally available for the
            purpose:

                        (a) subject to compliance with Section 1, pay to the
                  holders of the shares of MCI Stock a distribution pro rata in
                  accordance with the number of shares of MCI Stock held by each
                  such holder, in

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                  cash and/or securities or other property having a Fair Value
                  as of the Disposition Date in the aggregate equal to the
                  product of:

                              (x) the Outstanding Interest Fraction with respect
                        to MCI Stock as of the record date for determining
                        holders entitled to receive such distribution; and

                              (y) the Fair Value as of the Disposition Date of
                        the Net Proceeds of such Disposition; or

                        (b) (I) subject to the last sentence of this Section
                  4(B)(i), if such Disposition involves all (not merely
                  substantially all) of the businesses, assets, properties and
                  liabilities attributed to the MCI Group, redeem or exchange as
                  of the Redemption Date, determined as provided by Section
                  4(G)(iii)(2), all outstanding shares of MCI Stock in exchange
                  for, on a pro rata basis, cash and/or securities (other than
                  shares of a series of common stock) or other property having a
                  Fair Value as of the Disposition Date in the aggregate equal
                  to the product of:

                              (x) the Outstanding Interest Fraction with respect
                        to MCI Stock as of such Redemption Date; and

                              (y) the Fair Value as of the Disposition Date of
                        the Net Proceeds of such Disposition; or

                        (II) subject to the last sentence of this Section
                  4(B)(i), if such Disposition involves substantially all (but
                  not all) of the businesses, assets, properties and liabilities
                  attributed to the MCI Group, redeem or exchange as of the
                  Redemption Date, determined as provided by Section
                  4(G)(iv)(2), the number of whole shares of MCI Stock equal to
                  the lesser of:

                              (x) the number of shares of MCI Stock outstanding;
                        and

                              (y) such number of MCI Stock as have in the
                        aggregate an average Market Value during the period of
                        ten consecutive Trading Days beginning on the 51st
                        Trading Day immediately succeeding the Disposition Date
                        closest to the product of:

                                    (AA) the Outstanding Interest Fraction with
                              respect to MCI Stock as of the record date for
                              determining such shares selected for redemption or
                              exchange; and

                                    (BB) the Fair Value as of the Disposition
                              Date of the Net Proceeds of such Disposition,

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in exchange for, on a pro rata basis, cash and/or securities (other than shares
of a series of the Corporation's common stock) or other property having a Fair
Value as of the Disposition Date in the aggregate equal to such product; or

                  (2) declare that each outstanding share of MCI Stock shall be
            converted as of the Conversion Date, determined as provided by
            Section 4(G)(v)(2), into a number of fully paid and nonassessable
            shares of WorldCom Stock equal to 110% (if the disposition is
            consummated within three years of the date of the Initial Issuance
            Date or 100% thereafter), of the ratio, rounded to the nearest
            1/10,000 (.0001), of the average Market Value of one share of MCI
            Stock over the period of ten consecutive Trading Days beginning on
            the 51st Trading Day following the Disposition Date to the average
            Market Value of one share of WorldCom Stock during such ten-Trading
            Day period.

Notwithstanding the foregoing provisions of this Section 4(B)(i), the
Corporation shall redeem or exchange shares of MCI Stock as provided by Section
4(B)(i)(1)(b)(I) or (II) only if the amount to be paid in redemption or exchange
of such stock is less than or equal to the MCI Group Available Distribution
Amount as of the Redemption Date.

            (ii) For purposes of this Section 4(B):

                  (1) as of any date, "substantially all of the businesses,
            assets, properties and liabilities" attributed to the MCI Group
            shall mean a portion of such businesses, assets, properties and
            liabilities that represents at least 80% of the Fair Value of the
            businesses, assets, properties and liabilities attributed to the MCI
            Group as of such date;

                  (2) in the case of a Disposition of the businesses, assets,
            properties and liabilities attributed to the MCI Group in a series
            of related transactions, such Disposition shall not be deemed to
            have been consummated until the consummation of the last of such
            transactions; and

                  (3) the board of directors may pay any distribution or
            redemption price referred to in Section 4(B)(i)(1) in cash,
            securities (other than shares of a series of the Corporation's
            common stock) or other property, regardless of the form or nature of
            the proceeds of the Disposition.

            (C) Conversion of MCI Stock at Corporation's Option At Any Time or
if a Tax Event Occurs.

            (i) The Board of Directors may at any time declare that each
      outstanding share of MCI Stock shall be converted, as of the Conversion
      Date, determined as provided by Section 4(G)(v)(2), into a number of fully
      paid and nonassessable shares of WorldCom Stock, equal to the applicable
      percentage set forth in the following sentence of the ratio, rounded to
      the nearest 1/10,000 (.0001), of the average Market Value of one share of
      MCI Stock over the period of 20 consecutive Trading Days ending on the
      fifth Trading Day immediately preceding the date of the notice of
      conversion required by Section 4(G)(v) to the average Market Value of one
      share of WorldCom Stock during

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      such 20-Trading Day period. The applicable percentage referred to in the
      preceding sentence shall equal:

                  (1) prior to the third anniversary of the Initial Issuance
            Date, 110%; and

                  (2) on or after the third anniversary of the Initial Issuance
            Date, 100%.

            (ii) If a Tax Event occurs, the board of directors may at any time
      declare that each outstanding share of MCI Stock shall be converted, as of
      the Conversion Date, determined as provided by Section 4(G)(v)(2), into a
      number of fully paid and nonassessable shares of WorldCom Stock equal to
      100% of the ratio, rounded to the nearest 1/10,000 (.0001), of the average
      Market Value of one share of MCI Stock over the period of 20 consecutive
      Trading Days ending on the fifth Trading Day immediately preceding the
      date of the notice of conversion required by Section 4(G)(v) to the
      average Market Value of one share of WorldCom Stock or Additional Group
      Stock, as applicable, during such 20-Trading Day period.

            (D) Redemption of WorldCom Stock for WorldCom Subsidiary Stock. At
any time at which all of the businesses, assets, properties and liabilities
attributed to the WorldCom Group (and no other businesses, assets, properties or
liabilities of the Corporation or any subsidiary thereof) are held directly or
indirectly by one or more wholly owned subsidiaries of the Corporation (each, a
"WorldCom Subsidiary"), the board of directors may, subject to the satisfaction
of such conditions that it determines are appropriate, provided that there are
funds legally available for the purpose:

            (i) if neither Group holds an Inter-Group Interest in the other
      Group, redeem or exchange all of the outstanding shares of WorldCom Stock,
      on a Redemption Date of which notice is delivered in accordance with
      Section 4(G)(vi), in exchange for all of the shares of common stock of
      each WorldCom Subsidiary as will be outstanding immediately following such
      exchange of shares; such shares of common stock of each WorldCom
      Subsidiary shall be delivered to the holders of shares of WorldCom Stock
      on the Redemption Date either directly or indirectly through the delivery
      of shares of another WorldCom Subsidiary that owns directly or indirectly
      all such shares, and shall be divided among the holders of WorldCom Stock
      pro rata in accordance with the number of shares of WorldCom Stock held by
      each such holder on such Redemption Date; each share of common stock of
      such WorldCom Subsidiary shall be, upon such delivery, fully paid and
      nonassessable;

            (ii) if the MCI Group holds an Inter-Group Interest in the WorldCom
      Group, redeem or exchange all of the outstanding shares of WorldCom Stock,
      on a Redemption Date of which notice is delivered in accordance with
      Section 4(G)(vi), in exchange for the number of shares of common stock of
      each WorldCom Subsidiary equal to the product of:

                  (x) the Outstanding Interest Fraction with respect to WorldCom
            Stock; and

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                  (y) the number of shares of common stock of such WorldCom
            Subsidiary as will be outstanding immediately following such
            exchange of shares;

such shares of common stock of each WorldCom Subsidiary shall be delivered to
the holders of shares of WorldCom Stock on the Redemption Date either directly
or indirectly through the delivery of shares of another WorldCom Subsidiary that
owns directly or indirectly all such shares, and shall be divided among the
holders of WorldCom Stock pro rata in accordance with the number of shares of
WorldCom Stock held by each such holder on such Redemption Date; each share of
common stock of such WorldCom Subsidiary shall be, upon such delivery, fully
paid and nonassessable; or

            (iii) if the WorldCom Group holds an Inter-Group Interest in the MCI
      Group, either:

                  (1) redeem or exchange all of the outstanding shares of
            WorldCom Stock, on a Redemption Date of which notice is delivered in
            accordance with Section 4(G)(vi), in exchange for:

                        (a) all of the shares of common stock of each WorldCom
                  Subsidiary as will be outstanding immediately following such
                  exchange of shares; and

                        (b) with respect to the MCI Group, a number of shares of
                  MCI Stock equal to the related Number of Shares Issuable with
                  Respect to the Inter-Group Interest in the MCI Group held by
                  the WorldCom Group;

such shares of common stock of each WorldCom Subsidiary shall be delivered to
the holders of shares of WorldCom Stock on the Redemption Date either directly
or indirectly through the delivery of shares of another WorldCom Subsidiary that
owns directly or indirectly all such shares, and the shares of common stock of
each WorldCom Subsidiary and the shares of MCI Stock equal to the related Number
of Shares Issuable with Respect to the Inter-Group Interest in the MCI Group
held by the WorldCom Group shall be divided among the holders of WorldCom Stock
pro rata in accordance with the number of shares of WorldCom Stock held by each
such holder on such Redemption Date; each share of common stock of each WorldCom
Subsidiary and share of MCI Stock in respect of such Number of Shares Issuable
with Respect to the Inter-Group Interest shall be, upon such delivery, fully
paid and nonassessable; or

            (2) (a) redeem or exchange all of the outstanding shares of WorldCom
      Stock as contemplated by clause (1)(a) above and (b) issue to one or more
      of the WorldCom Subsidiaries a number of shares of MCI Stock equal to the
      Number of Shares Issuable with Respect to the Inter-Group Interest in the
      MCI Group held by the WorldCom Group.

            (E) Redemption of MCI Stock for MCI Subsidiary Stock. At any time at
which all of the businesses, assets, properties and liabilities attributed to
the MCI Group (and no other businesses, assets, properties or liabilities of the
Corporation or any subsidiary thereof) are held directly or indirectly by one or
more wholly owned subsidiaries of the Corporation (each, a

                                      12
<PAGE>

"MCI Subsidiary"), the Board of Directors may, subject to the satisfaction of
such conditions that it determines are appropriate, provided that there are
funds legally available for the purpose:

            (i) if neither Group holds an Inter-Group Interest in the other
      Group, redeem or exchange all of the outstanding shares of MCI Stock, on a
      Redemption Date of which notice is delivered in accordance with Section
      4(G)(vi), in exchange for all of the shares of common stock of each MCI
      Subsidiary as will be outstanding immediately following such exchange of
      shares; such shares of common stock of each MCI Subsidiary shall be
      delivered to the holders of shares of MCI Stock on the Redemption Date
      either directly or indirectly through the delivery of shares of another
      MCI Subsidiary that owns directly or indirectly all such shares, and shall
      be divided among the holders of MCI Stock pro rata in accordance with the
      number of shares of MCI Stock held by each such holder on such Redemption
      Date; each share of common stock of such MCI Subsidiary shall be, upon
      such delivery, fully paid and nonassessable;

            (ii) if the WorldCom Group holds an Inter-Group Interest in the MCI
      Group, redeem or exchange all of the outstanding shares of MCI Stock, on a
      Redemption Date of which notice is delivered in accordance with Section
      4(G)(vi), in exchange for the number of shares of common stock of each MCI
      Subsidiary equal to the product of:

                  (x) the Outstanding Interest Fraction with respect to MCI
            Stock; and

                  (y) the number of shares of common stock of such MCI
            Subsidiary as will be outstanding immediately following such
            exchange of shares;

such shares of common stock of each MCI Subsidiary shall be delivered to the
holders of shares of MCI Stock on the Redemption Date either directly or
indirectly through the delivery of shares of another MCI Subsidiary that owns
directly or indirectly all such shares, and shall be divided among the holders
of MCI Stock pro rata in accordance with the number of shares of MCI Stock held
by each such holder on such Redemption Date; each share of common stock of such
MCI Subsidiary shall be, upon such delivery, fully paid and nonassessable; or

            (iii) if the MCI Group holds an Inter-Group Interest in the WorldCom
      Group, either:

                  (1) redeem or exchange all of the outstanding shares of MCI
            Stock, on a Redemption Date of which notice is delivered in
            accordance with Section 4(G)(vi), in exchange for:

                        (a) all of the shares of common stock of each MCI
                  Subsidiary as will be outstanding immediately following such
                  exchange of shares; and

                        (b) with respect to the WorldCom Group, a number of
                  shares of WorldCom Stock equal to the related Number of Shares
                  Issuable with Respect to the Inter-Group Interest in the
                  WorldCom Group held by the MCI Group;

                                      13
<PAGE>

such shares of common stock of each MCI Subsidiary shall be delivered to the
holders of shares of MCI Stock on the Redemption Date either directly or
indirectly through the delivery of shares of another MCI Subsidiary that owns
directly or indirectly all such shares, and the shares of common stock of each
MCI Subsidiary and the shares of common stock of each series equal to the
related Number of Shares Issuable with Respect to the Inter-Group Interest in
the WorldCom Group held by the MCI Group shall be divided among the holders of
MCI Stock pro rata in accordance with the number of shares of MCI Stock held by
each such holder on such Redemption Date; each share of common stock of each MCI
Subsidiary and share of common stock in respect of such Number of Shares
Issuable with Respect to the Inter-Group Interest shall be, upon such delivery,
fully paid and nonassessable; or

                  (2) (a) redeem or exchange all of the outstanding shares of
            MCI Stock as contemplated by clause (1)(a) above and (b) issue to
            one or more of the MCI Subsidiaries a number of shares of WorldCom
            Stock equal to the Number of Shares Issuable with Respect to the
            Inter-Group Interest in the WorldCom Group held by the MCI Group.

            (F) Treatment of Convertible Securities. After any Redemption Date
or Conversion Date on which all outstanding shares of either WorldCom Stock or
MCI Stock are redeemed or converted, any share of any series of common stock of
the Corporation that is to be issued on exchange, conversion or exercise of any
Convertible Securities shall, immediately upon such exchange, conversion or
exercise and without any notice from or to, or any other action on the part of,
the Corporation or its board of directors or the holder of such Convertible
Security:

            (i) in the event the shares of such series of common stock
      outstanding on such Redemption Date were redeemed pursuant to Section
      4(A)(i)(1)(b)(I), Section 4(B)(i)(1)(b)(I), Section 4(D) or Section 4(E),
      be redeemed, to the extent of funds legally available therefor, for $.01
      per share in cash for each share of such series of common stock that
      otherwise would be issued upon such exchange, conversion or exercise; or

            (ii) in the event the shares of such series of common stock
      outstanding on such Conversion Date were converted into shares of another
      series of common stock pursuant to Section 4(A)(i)(2), Section 4(A)(iii),
      Section 4(B)(i)(2) or Section 4(C), be converted into the amount of cash
      and/or the number of shares of the kind of capital stock and/or other
      securities or property of the Corporation that shares of such series of
      common stock would have received had such shares been converted and
      outstanding on such Conversion Date.

The provisions of the immediately preceding sentence of this Section 4 shall not
apply to the extent that other adjustments or alternative provisions in respect
of such conversion, exchange or redemption of a series of common stock are
otherwise made or applied pursuant to the provisions of such Convertible
Securities.

            (G) Notice and Other Provisions. (i) Not later than the 45th Trading
Day following the Disposition Date referred to in Section 4(A)(i) (in the case
of WorldCom Stock) or

                                      14
<PAGE>

Section 4(B)(i) (in the case of MCI Stock), the Corporation shall announce
publicly by press release:

            (1) the Net Proceeds of such Disposition;

            (2) the number of shares outstanding of the series of common stock
      relating to the Group subject to such Disposition;

            (3) the number of shares of such series of common stock into or for
      which Convertible Securities are then convertible, exchangeable or
      exercisable and the conversion, exchange or exercise price thereof; and

            (4) if applicable for the Group subject to such Disposition, the
      Outstanding Interest Fraction for the series of common stock relating to
      such Group on the date of such notice.

Not earlier than the 61st Trading Day and not later than the 65th Trading Day
following the Disposition Date, the Corporation shall announce publicly by press
release which of the actions specified in Section 4(A)(i) or Section 4(B)(i), as
the case may be, it has irrevocably determined to take in respect of such
Disposition.

            (ii) If the Corporation determines to pay a distribution pursuant to
      Section 4(A)(i)(1)(a) (in the case of WorldCom Stock) or Section
      4(B)(i)(1)(a) (in the case of MCI Stock), the Corporation shall, not later
      than the 65th Trading Day following the Disposition Date, cause notice to
      be given to each holder of shares of the series of common stock relating
      to the Group subject to such Disposition and to each holder of Convertible
      Securities that are convertible into or exchangeable or exercisable for
      shares of such series of common stock (unless alternate provision for such
      notice to the holders of such Convertible Securities is made pursuant to
      the terms of such Convertible Securities), setting forth:

                  (1) the record date for determining holders entitled to
            receive such distribution, which shall be not earlier than the tenth
            Trading Day and not later than the 20th Trading Day following the
            date of such notice;

                  (2) the anticipated payment date of such distribution (which
            shall not be more than 120 Trading Days following the Disposition
            Date);

                  (3) the type of property to be paid as such distribution in
            respect of the outstanding shares of such series of common stock;

                  (4) the Net Proceeds of such Disposition;

                  (5) if applicable for the Group subject to such Disposition,
            the Outstanding Interest Fraction for the series of common stock
            relating to such Group on the date of such notice;

                                       15
<PAGE>

                  (6) the number of outstanding shares of such series of common
            stock and the number of shares of such series of common stock into
            or for which outstanding Convertible Securities are then
            convertible, exchangeable or exercisable and the conversion,
            exchange or exercise price thereof; and

                  (7) in the case of notice to be given to holders of
            Convertible Securities, a statement to the effect that a holder of
            such Convertible Securities shall be entitled to receive such
            distribution only if such holder properly converts, exchanges or
            exercises such Convertible Securities on or prior to the record date
            referred to in clause (1) of this sentence.

            (iii) If the Corporation determines to undertake a redemption
      pursuant to Section 4(A)(i)(1)(b)(I) (in the case of WorldCom Stock) or
      Section 4(B)(i)(1)(b)(I) (in the case of MCI Stock), the Corporation
      shall, not earlier than the 45th Trading Day and not later than the 35th
      Trading Day prior to the Redemption Date, cause notice to be given to each
      holder of shares of the series of common stock relating to the Group
      subject to the Disposition referred to in such Section and to each holder
      of Convertible Securities convertible into or exchangeable or exercisable
      for shares of such series of common stock (unless alternate provision for
      such notice to the holders of such Convertible Securities is made pursuant
      to the terms of such Convertible Securities), setting forth:

                  (1) a statement that all shares of such series of common stock
            outstanding on the Redemption Date shall be redeemed;

                  (2) the Redemption Date (which shall not be more than 120
            Trading Days following the Disposition Date);

                  (3) the type of property in which the redemption price for the
            shares of such series of common stock to be redeemed is to be paid;

                  (4) the Net Proceeds of such Disposition;

                  (5) if applicable for the Group subject to such Disposition,
            the Outstanding Interest Fraction for the series of common stock
            relating to such Group on the date of such notice;

                  (6) the place or places where certificates for shares of such
            series of common stock, properly endorsed or assigned for transfer
            (unless the Corporation shall waive such requirement), are to be
            surrendered for delivery of cash and/or securities or other
            property;

                  (7) the number of outstanding shares of such series of common
            stock and the number of shares of such series of common stock into
            or for which outstanding Convertible Securities are then
            convertible, exchangeable or exercisable and the conversion,
            exchange or exercise price thereof;

                  (8) in the case of notice to be given to holders of
            Convertible Securities, a statement to the effect that a holder of
            such Convertible Securities shall be

                                       16
<PAGE>

            entitled to participate in such redemption only if such holder
            properly converts, exchanges or exercises such Convertible
            Securities on or prior to the Redemption Date referred to in clause
            (1) of this sentence and a statement as to what, if anything, such
            holder will be entitled to receive pursuant to the terms of such
            Convertible Securities or, if applicable, this Section 4 if such
            holder thereafter converts, exchanges or exercises such Convertible
            Securities; and

                  (9) a statement to the effect that, except as otherwise
            provided by Section 4(G)(x), distributions on shares of such series
            of common stock shall cease to be paid as of such Redemption Date.

                        (iv) If the Corporation determines to undertake a
                  redemption pursuant to Section 4(A)(i)(1)(b)(II) (in the case
                  of WorldCom Stock) or Section 4(B)(i)(1)(b)(II) (in the case
                  of MCI Stock), the Corporation shall, not later than the 65th
                  Trading Day following the Disposition Date referred to in such
                  Section, cause notice to be given to each holder of shares of
                  the series of common stock relating to the Group subject to
                  such Disposition and to each holder of Convertible Securities
                  that are convertible into or exchangeable or exercisable for
                  shares of such series of common stock (unless alternate
                  provision for such notice to the holders of such Convertible
                  Securities is made pursuant to the terms of such Convertible
                  Securities) setting forth:

                              (1) a date not earlier than the tenth Trading Day
                        and not later than the 20th Trading Day following the
                        date of such notice on which shares of such series of
                        common stock shall be selected for redemption;

                              (2) the anticipated Redemption Date (which shall
                        not be more than 120 Trading Days following the
                        Disposition Date);

                              (3) the type of property in which the redemption
                        price for the shares of such series of common stock to
                        be redeemed is to be paid;

                              (4) the Net Proceeds of such Disposition;

                              (5) if applicable for the Group subject to such
                        Disposition, the Outstanding Interest Fraction for the
                        series of common stock relating to such Group on the
                        date of such notice;

                              (6) the number of outstanding shares of such
                        series of common stock and the number of shares of such
                        series of common stock into or for which outstanding
                        Convertible Securities are then convertible,
                        exchangeable or exercisable and the conversion, exchange
                        or exercise price thereof;

                              (7) in the case of notice to be given to holders
                        of Convertible Securities, a statement to the effect
                        that a holder of such Convertible Securities shall be
                        eligible to participate in such selection for redemption
                        only if such holder properly converts, exchanges or
                        exercises such Convertible Securities on or prior to the
                        record date referred to in clause (1) of this sentence,
                        and a statement as to what, if anything, such holder
                        will be entitled to receive pursuant to the terms of

                                       17
<PAGE>

                        such Convertible Securities or, if applicable, this
                        Section 4 if such holder thereafter converts, exchanges
                        or exercises such Convertible Securities; and

                              (8) a statement that the Corporation will not be
                        required to register a transfer of any shares of such
                        series of common stock for a period of 15 Trading Days
                        next preceding the date referred to in clause (1) of
                        this sentence.

Promptly following the date referred to in clause (1) of the preceding sentence,
the Corporation shall cause a notice to be given to each holder of record of
shares of such series of common stock to be redeemed setting forth:

                              (1) the number of shares of such series of common
                        stock held by such holder to be redeemed;

                              (2) a statement that such shares of such series of
                        common stock shall be redeemed;

                              (3) the Redemption Date;

                              (4) the kind and per share amount of cash and/or
                        securities or other property to be received by such
                        holder with respect to each share of such series of
                        common stock to be redeemed, including details as to the
                        calculation thereof;

                              (5) the place or places where certificates for
                        shares of such series of common stock, properly endorsed
                        or assigned for transfer (unless the Corporation shall
                        waive such requirement), are to be surrendered for
                        delivery of such cash and/or securities or other
                        property;

                              (6) if applicable, a statement to the effect that
                        the shares being redeemed may no longer be transferred
                        on the transfer books of the Corporation after the
                        Redemption Date; and

                              (7) a statement to the effect that, subject to
                        Section 4(G)(x), dividends on such shares of such series
                        of common stock shall cease to be paid as of the
                        Redemption Date.

            (v) If the Corporation determines to convert WorldCom Stock or MCI
      Stock into the other series of common stock pursuant to Section 4(A)(iii)
      (in the case of WorldCom Stock) or Section 4(A)(i)(2), Section 4(B)(i)(2),
      Section 4(B)(iii) or Section 4(C) (in the case of MCI Stock), the
      Corporation shall, not earlier than the 45th Trading Day and not later
      than the 35th Trading Day prior to the Conversion Date, cause notice to be
      given to each holder of shares of the series of common stock to be so
      converted and to each holder of Convertible Securities that are
      convertible into or exchangeable or exercisable for shares of such series
      of common stock (unless alternate provision for such notice to the holders
      of such Convertible Securities is made pursuant to the terms of such
      Convertible Securities) setting forth:

                                       18
<PAGE>

                  (1) a statement that all outstanding shares of such series of
            common stock shall be converted;

                  (2) the Conversion Date (which, in the case of a conversion
            after a Disposition, shall not be more than 120 Trading Days
            following the Disposition Date);

                  (3) the number of shares of the series of common stock to be
            received with respect to each share of such series of common stock,
            including details as to the calculation thereof;

                  (4) the place or places where certificates for shares of such
            series of common stock, properly endorsed or assigned for transfer
            (unless the Corporation shall waive such requirement), are to be
            surrendered for delivery of certificates for shares of such series
            of common stock;

                  (5) the number of outstanding shares of such series of common
            stock and the number of shares of such series of common stock into
            or for which outstanding Convertible Securities are then
            convertible, exchangeable or exercisable and the conversion,
            exchange or exercise price thereof;

                  (6) a statement to the effect that, subject to Section
            4(G)(x), dividends on shares of such series of common stock shall
            cease to be paid as of such Conversion Date; and

                  (7) in the case of notice to holders of such Convertible
            Securities, a statement to the effect that a holder of such
            Convertible Securities shall be entitled to receive shares of such
            series of common stock upon such conversion only if such holder
            properly converts, exchanges or exercises such Convertible
            Securities on or prior to such Conversion Date and a statement as to
            what, if anything, such holder will be entitled to receive pursuant
            to the terms of such Convertible Securities or, if applicable, this
            Section 4 if such holder thereafter converts, exchanges or exercises
            such Convertible Securities.

            (vi) If the Corporation determines to redeem shares of WorldCom
      Stock pursuant to Section 4(D) or MCI Stock pursuant to Section 4(E), the
      Corporation shall, not earlier than the 35th Trading Day and not later
      than the 45th Trading Day prior to the Redemption Date, cause notice to be
      given to each holder of shares of such series of common stock to be
      redeemed and to each holder of Convertible Securities that are convertible
      into or exchangeable or exercisable for shares of such series of common
      stock (unless alternate provision for such notice to the holders of such
      Convertible Securities is made pursuant to the terms of such Convertible
      Securities), setting forth:

                  (1) a statement that all shares of such series of common stock
            outstanding on the Redemption Date shall be redeemed in exchange for
            shares of common stock of each WorldCom Subsidiary or MCI
            Subsidiary, as applicable (and, if such redemption is pursuant to
            Section 4(D)(iii)(1) or Section 4(D)(iv)(l) (in the case of WorldCom
            Stock) or pursuant to Section 4(E)(iii)(1) or Section

                                       19
<PAGE>

            4(E)(iv)(l) (in the case of MCI Stock), shares of the series of
            common stock specified in such Sections);

                  (2) if such redemption is conditioned upon the satisfaction of
            one or more conditions on or prior to the Redemption Date, a
            description of such conditions and whether such conditions may be
            waived by the Corporation or another Person;

                  (3) the Redemption Date;

                  (4) if applicable for the series of common stock subject to
            such redemption, the Outstanding Interest Fraction for such series
            of common stock on the date of such notice;

                  (5) the place or places where certificates for shares of the
            series of common stock to be redeemed, properly endorsed or assigned
            for transfer (unless the Corporation shall waive such requirement),
            are to be surrendered for delivery of certificates for shares of
            common stock of each WorldCom Subsidiary or MCI Subsidiary, as
            applicable (and, if such redemption is pursuant to Section
            4(D)(iii)(1) or Section 4(D)(iv)(1) (in the case of WorldCom Stock)
            or pursuant to Section 4(E)(iii)(1) or Section 4(E)(iv)(1) (in the
            case of MCI Stock), shares of the series of common stock specified
            in such Sections);

                  (6) a statement to the effect that, subject to Section
            4(G)(x), dividends on shares of such series of common stock shall
            cease to be paid as of such Redemption Date;

                  (7) the number of outstanding shares of such series of common
            stock and the number of shares of such series of common stock into
            or for which outstanding Convertible Securities are then
            convertible, exchangeable or exercisable and the conversion,
            exchange or exercise price thereof; and

                  (8) in the case of notice to holders of Convertible
            Securities, a statement to the effect that a holder of Convertible
            Securities shall be entitled to receive shares of common stock of
            each WorldCom Subsidiary or MCI Subsidiary, as applicable (and, if
            such redemption is pursuant to Section 4(D)(iii)(1) or Section
            4(D)(iv)(1) (in the case of a redemption of WorldCom Stock) or
            pursuant to Section 4(E)(iii)(1) or Section 4(E)(iv)(1) (in the case
            of a redemption of MCI Stock), shares of the series of common stock
            specified in such Sections), upon redemption only if such holder
            properly converts, exchanges or exercises such Convertible
            Securities on or prior to the Redemption Date and a statement as to
            what, if anything, such holder will be entitled to receive pursuant
            to the terms of such Convertible Securities or, if applicable, this
            Section 4, if such holder thereafter converts, exchanges or
            exercises such Convertible Securities.

            (vii) Any notice required to be given each holder of shares of
      common stock or Convertible Securities pursuant to this Section 4(G) shall
      be sent by first-class mail, postage prepaid, to each such holder at such
      holder's address as the same appears on the

                                      20
<PAGE>

      transfer books of the Corporation or the Corporation's transfer agent or
      registrar on the record date fixed for such notice. Neither the failure to
      mail any notice required by this Section 4(G) to any particular holder of
      the common stock or of Convertible Securities nor any defect therein shall
      affect the sufficiency thereof with respect to any other holder of
      outstanding shares of the common stock or of Convertible Securities or the
      validity of any such redemption or conversion.

            (viii) If less than all of the outstanding shares of either series
      of common stock are to be redeemed pursuant to Section 4(A)(i)(1)(b)(II)
      (in the case of WorldCom Stock) or Section 4(B)(i)(1)(b)(Il) (in the case
      of MCI Stock), the shares to be redeemed by the Corporation shall be
      selected from among the holders of shares of such series of common stock
      outstanding at the close of business on the record date for such
      redemption on a pro rata basis among all such holders or by lot or by such
      other method as may be determined by the Board of Directors to be
      equitable.

            (ix) The Corporation shall not be required to issue or deliver
      fractional shares of any capital stock or of any other securities to any
      holder of either series of common stock upon any dividend or other
      distribution, redemption or conversion pursuant to this Section 4. If more
      than one share of a series of common stock shall be held at the same time
      by the same holder, the Corporation may aggregate the number of shares of
      any capital stock that shall be issuable or any other securities or
      property that shall be distributable in respect of such series to such
      holder upon any dividend or other distribution, redemption or conversion
      (including any fractional shares). If there are fractional shares of any
      capital stock or of any other securities remaining to be issued or
      distributed to the holders of any series of common stock, the Corporation
      shall, if such fractional shares are not issued or distributed to the
      holder, pay cash in respect of such fractional shares in an amount equal
      to the Fair Value thereof (without interest).

            (x) No adjustments in respect of dividends shall be made upon the
      redemption or conversion of shares of either series of common stock;
      provided, however, that if the Redemption Date or Conversion Date, as the
      case may be, with respect to shares of either series of common stock shall
      be subsequent to the record date for the payment of a dividend or other
      distribution thereon or with respect thereto, the holders of such series
      of common stock at the close of business on such record date shall be
      entitled to receive the dividend or other distribution payable on or with
      respect to such shares on the date set for payment of such dividend or
      other distribution, in each case without interest, notwithstanding the
      subsequent conversion or redemption of such shares.

            (xi) Before any holder of shares of either series of common stock
      shall be entitled to receive any cash payment and/or certificates or
      instruments representing shares of any capital stock and/or other
      securities or property to be distributed to such holder with respect to
      such series of common stock pursuant to this Section 4, such holder shall
      surrender at such place as the Corporation shall specify certificates for
      such shares of the common stock, properly endorsed or assigned for
      transfer (unless the Corporation shall waive such requirement). The
      Corporation shall as soon as practicable after receipt of certificates
      representing such shares of the common stock deliver to the person for
      whose account such shares of the common stock were so surrendered, or to
      such person's

                                      21
<PAGE>

      nominee or nominees, the cash and/or the certificates or instruments
      representing the number of whole shares of the kind of capital stock
      and/or other securities or property to which such person shall be entitled
      as aforesaid, together with any payment in respect of fractional shares
      contemplated by Section 4(G)(ix), in each case without interest. If less
      than all of the shares of either series of common stock represented by any
      one certificate are to be redeemed, the Corporation shall issue and
      deliver a new certificate for the shares of such series of common stock
      not redeemed.

            (xii) From and after any applicable Redemption Date or Conversion
      Date, as the case may be, all rights of a holder of shares of either
      series of common stock that were converted or redeemed shall cease except
      for the right, upon surrender of the certificates representing such shares
      of the common stock as required by Section 4(G)(xi), to receive the
      certificates representing shares of the kind and amount of capital stock
      and/or other securities or property for which such shares were redeemed or
      converted, together with any payment in respect of fractional shares
      contemplated by Section 4(G)(ix) and rights to dividends as provided in
      Section 4(G)(x), in each case without interest. No holder of a certificate
      that immediately prior to the applicable Redemption Date or Conversion
      Date represented shares of a series of common stock shall be entitled to
      receive any dividend or other distribution or interest payment with
      respect to shares of any kind of capital stock or other security or
      instrument for which such series of common stock was redeemed or converted
      until the surrender as required by this Section 4 of such certificate in
      exchange for a certificate or certificates or instrument or instruments
      representing such capital stock or other security. Upon such surrender,
      there shall be paid to the holder the amount of any dividends or other
      distributions (without interest) which theretofore became payable on any
      class or series of capital stock of the Corporation as of a record date
      after the Conversion Date, but that were not paid by reason of the
      foregoing, with respect to the number of whole shares of the kind of
      capital stock represented by the certificate or certificates issued upon
      such surrender. From and after a Redemption Date or Conversion Date, the
      Corporation shall be entitled, however, to treat the certificates for a
      series of common stock that have not yet been surrendered for conversion
      as evidencing the ownership of the number of whole shares of the kind or
      kinds of capital stock of the Corporation for which the shares of such
      series of common stock represented by such certificates shall have been
      converted, notwithstanding the failure to surrender such certificates.

            (xiii) The Corporation shall pay any and all documentary, stamp or
      similar issue or transfer taxes that may be payable in respect of the
      issuance or delivery of any shares of capital stock and/or other
      securities upon redemption or conversion of shares of any series of common
      stock pursuant to this Section 4. The Corporation shall not, however, be
      required to pay any tax that may be payable in respect of any transfer
      involved in the issuance or delivery of any shares of capital stock and/or
      other securities in a name other than that in which the shares of such
      series of common stock so redeemed or converted were registered, and no
      such issuance or delivery shall be made unless the person requesting such
      issuance or delivery has paid to the Corporation the amount of any such
      tax or has established to the satisfaction of the Corporation that such
      tax has been paid.

                                       22
<PAGE>

            (xiv) The board of directors may establish such rules and
      requirements to facilitate the effectuation of the transactions
      contemplated by this Section 4 as the Board of Directors shall determine
      to be appropriate.

            Section 5. Inter-Group Interest and Related Transfers Between and
Among Groups.

            (A) Changes in Inter-Group Interest. The Number of Shares Issuable
with Respect to the Inter-Group Interest in any Issuer Group held by any Holder
Group shall from time to time be:

            (i) adjusted, if before such adjustment such number is greater than
      zero, as determined by the board of directors to be appropriate to reflect
      equitably any subdivision (by stock split or otherwise) or combination (by
      reverse stock split or otherwise) of the series of common stock related to
      such Issuer Group;

            (ii) decreased (but to not less than zero), if before such
      adjustment such number is greater than zero, by action of the board of
      directors by:

                  (1) such the number of shares of the series of common stock
            related to such Issuer Group issued or sold by the Corporation that,
            immediately prior to such issuance or sale, was included in the
            Number of Shares Issuable with Respect to the Inter-Group Interest
            in such Issuer Group held by such Holder Group;

                  (2) the number of shares of such series of common stock issued
            upon the conversion, exchange or exercise of any Convertible
            Securities that, immediately prior to the issuance or sale of such
            Convertible Securities, were included in the Number of Shares
            Issuable with Respect to the Inter-Group Interest in such Issuer
            Group held by such Holder Group;

                  (3) the number of shares of such series of common stock issued
            by the Corporation as a share dividend or in connection with any
            reclassification or exchange of shares, including an exchange offer,
            to holders of the series of common stock related to such Holder
            Group;

                  (4) the number of shares of such series of common stock issued
            upon the conversion, exchange or exercise of any Convertible
            Securities issued by the Corporation as a distribution or in
            connection with any reclassification or exchange of shares,
            including an exchange offer, to holders of the series of common
            stock related to such Holder Group;

                  (5) the number of shares (rounded, if necessary, to the
            nearest whole number) of such series of common stock equal to the
            product of (x) the number of shares of such series of common stock
            redeemed or exchanged pursuant to Section 4(A)(i)(l)(b)(I) or (II)
            or Section 4(B)(i)(1)(b)(I) or (II) and (y) a fraction (which may be
            greater than one), the numerator of which is the Number of Shares
            Issuable with Respect to the Inter-Group Interest in such Issuer
            Group held by

                                       23
<PAGE>

            such Holder Group, and the denominator of which is the number of
            shares of series of common stock outstanding, in each case, on the
            record date for determining such shares selected for such redemption
            or exchange; and

                  (6) the number of shares (rounded, if necessary, to the
            nearest whole number) of such series of common stock equal to the
            quotient of (x) the aggregate Fair Value as of the date of transfer
            of (i) businesses, assets (including cash) or properties transferred
            from such Issuer Group to such Holder Group or (ii) liabilities
            transferred from such Holder Group to such Issuer Group, in either
            case, for the purpose of reducing the Number of Shares Issuable with
            Respect to the Inter-Group Interest in such Issuer Group held by
            such Holder Group, divided by (y) the average Market Value of one
            share of the series of common stock related to such Issuer Group
            during the period of 20 consecutive Trading Days ending on the date
            of such contribution or transfer,

            (iii) increased by action of the Board of Directors by:

                  (1) the number of outstanding shares of the series of common
            stock related to such Issuer Group repurchased by the Corporation
            for consideration that was attributed as an asset as provided by
            Section 7(O) or 7(CC) to such Holder Group;

                  (2) the number of shares of such series of common stock equal
            to the product of (x) the quotient of (i) the number of shares of
            such series of common stock issued by the Corporation as a share
            dividend or in connection with any reclassification to holders of
            such series of common stock divided by (ii) the number of shares of
            such series of common stock outstanding on the record date for such
            share dividend or reclassification and (y) the Number of Shares
            Issuable with Respect to the Inter-Group Interest in such Issuer
            Group on such record date;

                  (3) the number of shares of such series of common stock into
            or for which Convertible Securities attributed as a liability to, or
            equity interest in, such Issuer Group are deemed converted,
            exchanged or exercised by such Holder Group pursuant to Section
            5(C); and

                  (4) the number of shares (rounded to the nearest whole number)
            of such series of common stock equal to the quotient of (x) the
            aggregate Fair Value as of the date of (i) contribution of
            businesses, assets (including cash) or properties transferred from
            such Holder Group to such Issuer Group or (ii) transfer of
            liabilities from such Issuer Group to such Holder Group, in
            consideration of an increase in the Number of Shares Issuable with
            Respect to the Inter-Group Interest in such Issuer Group held by
            such Holder Group, divided by (y) the average Market Value of one
            share of the series of common stock related to such Issuer Group
            during the period of 20 consecutive Trading Days ending on the date
            of such contribution or transfer;

                                       24
<PAGE>

            (iv) increased or decreased under such other circumstances as the
      board of directors determines appropriate to reflect the economic
      substance of any other event or circumstance; provided that, in each case,
      the adjustment shall be made in a manner that is fair and equitable to
      holders of common stock and intended to reflect the relative economic
      interest in one Group held by the other Group.

            (B) Reattribution Upon Certain Distributions.

            (i) If the Corporation shall make a distribution with respect to
      shares of either series of common stock (payable in consideration other
      than securities of the Corporation), effective on the payment date of such
      distribution, the Holder Group holding an Inter-Group Interest in the
      Issuer Group in respect of which such distribution has been paid shall be
      attributed as an asset an amount of assets or properties, previously
      attributed to such Issuer Group, of the same kind as were paid in such
      distribution, as have a Fair Value on the record date for such
      distribution equal to the product of:

                  (1) the Fair Value on such record date of the aggregate
            distribution to holders of shares of such series of common stock;
            and

                  (2) a fraction (which may be greater than one), the numerator
            of which is equal to the Number of Shares Issuable with Respect to
            the Inter-Group Interest in such Issuer Group held by such Holder
            Group and the denominator of which is equal to the number of
            outstanding shares of the series of common stock related to such
            Issuer Group, in each case, on the record date for such
            distribution.

            (ii) If the Corporation shall make a distribution with respect to
      shares of either series of common stock payable in securities of the
      Corporation that are attributed to the related Issuer Group as a liability
      of, or an equity interest in, such Issuer Group, the Holder Group holding
      an Inter-Group Interest in such Issuer Group shall be attributed as assets
      the number or amount of such securities equivalent to such liability or
      equity interest that is equal to the product of:

                        (x) the number or amount of securities so distributed to
                  holders of outstanding shares of the series of common stock
                  related to such Issuer Group; and

                        (y) a fraction (which may be greater than one), the
                  numerator of which is equal to the Number of Shares Issuable
                  with Respect to the Inter-Group Interest in such Issuer Group
                  held by such Holder Group and the denominator of which is
                  equal to the number of outstanding shares of the series of
                  common stock related to such Issuer Group, in each case, on
                  the record date for such dividend or other distribution;

and, to the extent interest is or distributions are paid on the securities so
distributed, the Holder Group shall be attributed at the time of such payment a
corresponding ratable amount of the kind of assets paid as such interest or
distributions as would have been paid in respect of such securities so deemed to
be held by such Holder Group if such securities were outstanding.

                                      25
<PAGE>

            (C) Deemed Conversion of Certain Convertible Securities Held by the
Holder Group. To the extent Convertible Securities are paid as a distribution to
the holders of either series of common stock, the Corporation may (in addition
to making an adjustment pursuant to Section 5(B)(ii)) when at any time such
Convertible Securities are convertible into or exchangeable or exercisable for
shares of such series of common stock, treat such Convertible Securities as
converted, exchanged or exercised for purposes of determining the increase in
the Number of Shares Issuable with Respect to the Inter-Group Interest in such
Issuer Group pursuant to Section 5(A)(iii)(3), and must do so to the extent such
Convertible Securities are mandatorily converted, exchanged or exercised (and to
the extent the terms of such Convertible Securities require payment of
consideration for such conversion, exchange or exercise, such Holder Group shall
then no longer be attributed as an asset an amount of the kind of assets or
properties required to be paid as such consideration for the amount of
Convertible Securities deemed converted, exchanged or exercised (and such Issuer
Group shall be attributed such assets or properties)), in which case, from and
after such time, the shares of common stock into or for which such Convertible
Securities were so considered converted, exchanged or exercised shall be deemed
held by such Holder Group and such Convertible Securities shall no longer be
deemed to be held by such Holder Group. A statement setting forth the election
to effectuate any such deemed conversion, exchange or exercise of Convertible
Securities and the assets or properties, if any, to be attributed to the other
Group in consideration of such conversion, exchange or exercise shall be filed
in the records of the actions of the board of directors and, upon such filing,
such deemed conversion, exchange or exercise shall be effectuated.

            (D) Permitted Inter-Group Interests. Either Group may hold an
Inter-Group Interest in the other Group; provided that neither Group may hold an
Inter-Group Interest in the other Group if, immediately after the creation of
such Inter-Group Interest, the Groups would hold Inter-Group Interests in each
other.

            Section 6. Application of the Provisions of Section A of Article 4.

            (A) Certain Determinations by the Board of Directors. The board of
directors shall make such determinations with respect to (a) the businesses,
assets, properties and liabilities to be attributed to the WorldCom Group and
the MCI Group, (b) the application of the provisions of these Second Amended and
Restated Articles of Incorporation to transactions to be engaged in by the
Corporation and (c) the voting powers, preferences, designations, rights,
qualifications, limitations or restrictions of either series of common stock or
of the holders thereof, as may be or become necessary or appropriate to the
exercise of, or to give effect to, such voting powers, preferences,
designations, rights, qualifications, limitations or restrictions, including,
without limiting the foregoing, the determinations referred to in this Section
6. A record of any such determination shall be filed with the records of the
actions of the board of directors.

            (i) Upon any acquisition by the Corporation or its subsidiaries of
      any businesses, assets or properties, or any assumption of liabilities,
      outside of the ordinary course of business of either Group, the board of
      directors shall determine whether such businesses, assets, properties and
      liabilities (or an interest therein) shall be for the benefit of the
      WorldCom Group or the MCI Group or both and, accordingly, shall be
      attributed to such Group or Groups, in accordance with Section 7(O) or
      7(CC), as the case may be.

                                       26
<PAGE>

            (ii) Upon any issuance of shares of any series of common stock at a
      time when the Number of Shares Issuable with Respect to the Inter-Group
      Interest in the Issuer Group related to such series is greater than zero,
      the Board of Directors shall determine, based on the use of the proceeds
      of such issuance and any other relevant factors, whether all or any part
      of the shares of such series so issued shall reduce such Number of Shares
      Issuable with Respect to the Inter-Group Interest.

            (iii) Upon any issuance by the Corporation or any subsidiary thereof
      of any Convertible Securities that are convertible into or exchangeable or
      exercisable for shares of either series of common stock, if at the time
      such Convertible Securities are issued the Number of Shares Issuable with
      Respect to the Inter-Group Interest in the Issuer Group related to such
      series is greater than zero, the board of directors shall determine, based
      on the use of the proceeds of such issuance and any other relevant
      factors, whether, upon conversion, exchange or exercise thereof, the
      issuance of shares of such series of common stock pursuant thereto shall,
      in whole or in part, reduce such Number of Shares Issuable with Respect to
      the Inter-Group Interest.

            (iv) Upon any issuance of any shares of preferred stock (or stock
      other than common stock) of any series, the board of directors shall
      attribute, based on the use of proceeds of such issuance of shares of
      preferred stock (or stock other than common stock) in the business of
      either Group and any other relevant factors, the shares so issued entirely
      to the WorldCom Group, entirely to the MCI Group, or partly to both
      Groups, in such proportion as the Board of Directors shall determine.

            (v) Upon any redemption or repurchase by the Corporation or any
      subsidiary thereof of shares of preferred stock (or stock other than
      common stock) of any class or series or of other securities or debt
      obligations of the Corporation, the board of directors shall determine,
      based on the property used to redeem or purchase such shares, other
      securities or debt obligations, which, if any, of such shares, other
      securities or debt obligations redeemed or repurchased shall be attributed
      to the WorldCom Group, to the MCI Group, or both, and, accordingly, how
      many of the shares of such series or class of preferred stock (or stock
      other than common stock) or of such other securities, or how much of such
      debt obligations, that remain outstanding, if any, are thereafter
      attributed to each Group.

            (vi) Upon any transfer to either Group of businesses, assets,
      properties or liabilities attributed to either Group to the other Group,
      the consideration therefor to be attributed to the transferring Group in
      exchange therefor, including, without limitation, cash, securities or
      other property of such other Group or, if permitted by Section 5(D), a
      decrease or an increase in the Number of Shares of Shares Issuable with
      Respect to the Inter-Group Interest in such other Group, as described in
      Section 5(A)(ii)(6) or Section 5(A)(iii)(4).

            (B) Certain Determinations Not Required. Notwithstanding the
foregoing provisions of this Section 6 or any other provision in these Second
Amended and Restated Articles of Incorporation, at any time when there are not
outstanding more than one series of

                                       27
<PAGE>

common stock (or Convertible Securities convertible into or exchangeable or
exercisable for more than one series of common stock), the Corporation need not:

            (i) attribute any of the businesses, assets, properties or
      liabilities of the Corporation or any of its subsidiaries to the WorldCom
      Group or the MCI Group; or

            (ii) make any determination required in connection therewith, nor
      shall the board of directors be required to make any of the determinations
      otherwise required by this Section A of Article 4,

and in such circumstances the holders of the shares of WorldCom Stock and MCI
Stock outstanding, as the case may be, shall (unless otherwise specifically
provided in these Second Amended and Restated Articles of Incorporation) be
entitled to all the voting powers, preferences, designations, rights,
qualifications, limitations or restrictions of common stock of the Corporation.

            (C) Board Determinations Binding. Any determinations made in good
faith by the board of directors of the Corporation under any provision of this
Section 6 or otherwise in furtherance of the application of this Article 4A
shall be final and binding on all shareholders.

            Section 7. Certain Definitions and Rules of Interpretation. As used
in this Section A of Article 4, the following terms shall have the following
meanings (with terms defined in the singular having comparable meaning when used
in the plural and vice versa), unless the context otherwise requires. For
purposes of this Section A of Article 4, the WorldCom Stock, when issued, shall
be considered issued in respect of or related to the WorldCom Group, and the MCI
Stock, when issued, shall be considered issued in respect of or related to the
MCI Group. As used in this Section 7, a "contribution" or "transfer" of
businesses, assets, properties or liabilities from one Group to the other shall
refer to the reattribution of such businesses, assets, properties or liabilities
from the contributing or transferring Group to the other Group and correlative
phrases shall have correlative meanings.

            (A) "Available Distribution Amount" shall mean, as the context
requires, a reference to the WorldCom Group Available Distribution Amount and
MCI Group Available Distribution Amount.

            (B) "Conversion Date" shall mean the date fixed by the board of
directors as the effective date for the conversion of shares of WorldCom Stock
into shares of MCI Stock or shares of MCI Stock into shares of WorldCom Stock,
as shall be set forth in the notice to holders of shares of the series of common
stock subject to such conversion and to holders of any Convertible Securities
that are convertible into or exchangeable or exercisable for shares of the
series of common stock subject to such conversion requirements pursuant to
Section 4(G)(v).

            (C) "Convertible Securities" shall mean, at any time, any securities
of the Corporation or of any subsidiary thereof (other than shares of common
stock), including warrants and options, outstanding at such time that by their
terms are convertible into or exchangeable or exercisable for or evidence the
right to acquire any shares of any series of common stock, whether convertible,
exchangeable or exercisable at such time or a later time or only upon the

                                       28
<PAGE>

occurrence of certain events, but in respect of antidilution provisions of such
securities only upon the effectiveness thereof.

            (D) "Disposition" shall mean a sale, conveyance, assignment or other
disposition (whether by merger, share exchange, sale or contribution of assets
or stock or otherwise) of businesses, assets (including stock, other securities
and goodwill), properties or liabilities.

            (E) "Disposition Date," with respect to the WorldCom Group or the
MCI Group, shall mean the date of consummation of the Disposition of such Group
referred to in Section 4(A)(i) or Section 4(C)(i), as applicable.

            (F) "Distribution" shall mean a direct or indirect transfer of money
or other property (except its own shares or rights to acquire its own shares) or
incurrence of indebtedness by the Corporation to or for the benefit of its
shareholders in respect of any of its shares. A distribution may be in the form
of: (i) a declaration or payment of a dividend; (ii) a purchase, redemption, or
other acquisition of shares; (iii) a distribution of indebtedness, or otherwise;
provided that for purposes of this Section A of Article 4 a distribution shall
not include (x) payments made pursuant to Section 3 or (y) for purposes of
Section l(C)(v) and I(C)(vi), a repurchase of shares of common stock.

            (G) "Excluded Transaction" shall mean, with respect to the WorldCom
Group or the MCI Group, as applicable:

            (i) the Disposition by the Corporation of all or substantially all
      of its businesses, assets, properties and liabilities in one transaction
      or a series of related transactions in connection with the dissolution of
      the Corporation and the distribution of assets to shareholders as referred
      to in Section 3;

            (ii) the Disposition of the businesses, assets, properties and
      liabilities of such Group as contemplated by Section 4(D) or 4(E) or
      otherwise (x) to all holders of shares of the series of common stock
      related to such Group, divided among such holders on a pro rata basis in
      accordance with the number of shares of common stock of such series
      outstanding or (y) if the Number of Shares Issuable with Respect to the
      Inter-Group Interest in such Group is greater than zero, to all holders of
      shares of the series of common stock related to such Group and the
      Corporation or subsidiaries thereof, divided among such holders and the
      Corporation or subsidiaries thereof on a pro rata basis in accordance with
      the number of shares of common stock of such series outstanding and the
      Number of Shares Issuable with Respect to the Inter-Group Interest in such
      Group;

            (iii) the Disposition to any person or entity controlled (as
      determined by the board of directors) by the Corporation;

            (iv) the Disposition in connection with a Related Business
      Transaction in respect of such Group; or

            (v) a Disposition conditioned upon the approval of the holders of
      common stock related to such Group, voting as a separate voting group.

                                       29
<PAGE>

            (H) "Fair Value" shall mean:

            (i) in the case of equity securities or debt securities of a class
      or series that has previously been Publicly Traded for a period of at
      least 15 months, the Market Value thereof (if such Market Value, as so
      defined, can be determined);

            (ii) in the case of an equity security or debt security that has not
      been Publicly Traded for at least 15 months or the Market Value of which
      cannot be determined, the fair value per share of stock or per other unit
      of such security, on a fully distributed basis, as determined by an
      independent investment banking firm experienced in the valuation of
      securities selected in good faith by the board of directors, or, if no
      such investment banking firm is, as determined in the good faith judgment
      of the board of directors, available to make such determination, in good
      faith by the board of directors;

            (iii) in the case of cash denominated in U.S. dollars, the face
      amount thereof and in the case of cash denominated in other than U.S.
      dollars, the face amount thereof converted into U.S. dollars at the rate
      published in The Wall Street Journal on the date for the determination of
      Fair Value or, if not so published, at such rate as shall be determined in
      good faith by the board of directors based upon such information as the
      board of directors shall in good faith determine to be appropriate; and

            (iv) in the case of property other than securities or cash, the
      "Fair Value" thereof shall be determined in good faith by the board of
      directors based upon such appraisals, valuation reports or opinions of
      such experts as the board of directors shall in good faith determine to be
      appropriate.

Any such determination of Fair Value shall be described in a statement filed
with the records of the actions of the board of directors.

            (I) "Group" shall mean, as of any date, the WorldCom Group or the
MCI Group.

            (J) "Holder Group" shall mean any Group which holds or, as a result
of the issuance of Convertible Securities, may hold an Inter-Group Interest in
the other Group.

            (K) "Initial Issuance Date" shall mean the date of first issuance of
WorldCom Stock and MCI Stock.

            (L) "Inter-Group Interest" shall mean, as of any date, the Number of
Shares Issuable with Respect to the Inter-Group Interest in either Issuer Group
that are held or permitted to be held, as applicable, as of such date by the
other Holder Group.

            (M) "Issuer Group" shall mean any Group in which the other Group
holds or, as a result of the issuance of Convertible Securities, may hold an
Inter-Group Interest.

            (N) "Market Value" shall mean, with respect to a share of any class
or series of capital stock of the Corporation on any day,

                                       30
<PAGE>

            (i) average of the high and low reported sales prices of a share of
      such class or series on such Trading Day, as reported on the Nasdaq
      National Market; or

            (ii) in case no such reported sale takes place on such Trading Day,
      the average of the reported closing bid and asked prices regular way of a
      share of such class or series on such Trading Day, as reported on the
      Nasdaq National Market; or

            (iii) if the shares of such class or series are not listed or
      admitted to trading on the Nasdaq National Market on such Trading Day, on
      the principal national securities exchange in the United States on which
      the shares of such class or series are listed or admitted to trading; or

            (iv) if the shares of such class or series are not listed or
      admitted to trading on any national securities exchange or quoted on the
      Nasdaq National Market on such Trading Day, the average of the closing bid
      and asked prices of a share of such class or series in the
      over-the-counter market on such Trading Day, as furnished by any New York
      Stock Exchange member firm selected from time to time by the Corporation;
      or

            (v) if such closing bid and asked prices are not made available by
      any such Nasdaq National Market broker/dealer on such Trading Day, the
      Fair Value of a share of such class or series as set forth in clause (ii)
      of the definition of Fair Value;

provided that, for purposes of determining the market value of a share of any
class or series of capital stock for any period:

                  (x) the "Market Value" of a share of capital stock on any day
            prior to any "ex-dividend" date or any similar date occurring during
            such period for any dividend or distribution (other than any
            dividend or distribution contemplated by clause (y)(2) of this
            sentence) paid or to be paid with respect to such capital stock
            shall be reduced by the Fair Value of the per share amount of such
            dividend or distribution; and

                  (y) the "Market Value" of any share of capital stock on any
            day prior to:

                        (1) the effective date of any subdivision (by stock
                  split or otherwise) or combination (by reverse stock split or
                  otherwise) of outstanding shares of such class or series of
                  capital stock occurring during such period; or

                        (2) any "ex-dividend" date or any similar date occurring
                  during such period for any dividend or distribution with
                  respect to such capital stock to be made in shares of such
                  class or series of capital stock or Convertible Securities
                  that are convertible, exchangeable or exercisable for such
                  class or series of capital stock;

shall be appropriately adjusted, as determined by the board of directors, to
reflect such subdivision, combination, dividend or distribution.

                                       31
<PAGE>

            (O) "MCI Group" shall mean, as of any date:

            (i) the interest of the Corporation and any of its subsidiaries on
      such date in all of the businesses, assets, properties and liabilities
      reflected in the combined financial statements of the MCI Group as of
      September 30, 2000, which were publicly filed by the Corporation with the
      Securities and Exchange Commission in Registration Statement on Form S-4,
      as amended (File No. 333-52920);

            (ii) the interest of the Corporation or any of its subsidiaries in
      any business, asset or property acquired and any liabilities assumed by
      the Corporation or any of its subsidiaries and attributed to the MCI
      Group, as determined by the board of directors as contemplated by Section
      6(A);

            (iii) all businesses, assets, properties and liabilities transferred
      to the MCI Group from the WorldCom Group (other than in a transaction
      pursuant to clause (v) or (vi) of this Section 7(O)) pursuant to
      transactions in the ordinary course of business of the MCI Group and the
      WorldCom Group or otherwise as the board of directors may have directed as
      permitted by these Second Amended and Restated Articles of Incorporation;

            (iv) a proportionate undivided interest in each and every business,
      asset, property and liability attributed to the WorldCom Group equal to
      the Inter-Group Interest in the WorldCom Group held by the MCI Group as of
      such date;

            (v) all businesses, assets, properties and liabilities transferred
      to the MCI Group from the WorldCom Group in connection with an increase in
      the Inter-Group Interest in the MCI Group held by the WorldCom Group;

            (vi) all businesses, assets, properties and liabilities transferred
      to the MCI Group from the WorldCom Group in connection with a decrease in
      the Inter-Group Interest in the WorldCom Group held by the MCI Group;

            (vii) any assets (including securities) or properties attributed to
      the MCI Group pursuant to Section 5(B) or Section 5(C); and

            (viii) all net income and net losses arising in respect of the
      foregoing and proceeds of the Disposition thereof;

provided that from and after any transfer of any businesses, assets, properties
or liabilities from the MCI Group to the WorldCom Group as permitted by these
Second Amended and Restated Articles of Incorporation, the MCI Group shall no
longer include such businesses, assets, properties or liabilities so contributed
or transferred (other than as reflected, to the extent applicable, in respect of
such a transfer by the Inter-Group Interest in the WorldCom Group held by the
MCI Group).

            (P) "MCI Group Available Distribution Amount" shall mean, on any
date the product of:

            (i) the Outstanding Interest Fraction with respect to MCI Stock; and

                                       32
<PAGE>

            (ii) the lesser of:

                  (x) any amount in excess of the minimum amount necessary to
            pay debts attributed to the MCI Group as they become due in the
            usual course of business; and

                  (y) the total assets attributed to the MCI Group, less the sum
            of its total liabilities plus (unless these Second Amended and
            Restated Articles of Incorporation provide otherwise) the amount
            that would be needed, if the Corporation were to be dissolved at the
            time of the distribution, to satisfy the preferential rights upon
            dissolution of shares of stock attributed to the MCI Group superior
            to the MCI Stock.

Notwithstanding the foregoing provisions of this Section 7(P), and consistent
with Section 6(B), at any time when there are not outstanding both:

            (i) one or more shares of MCI Stock or Convertible Securities
      convertible into or exchangeable or exercisable for MCI Stock; and

            (ii) one or more shares of WorldCom Stock or Convertible Securities
      convertible into or exchangeable or exercisable for WorldCom Stock,

the "Available Distribution Amount," on any calculation date during such time
period, with respect to the MCI Stock or the WorldCom Stock (depending on which
of such series of common stock or Convertible Securities convertible into or
exchangeable or exercisable for such series of common stock is outstanding),
shall mean the amount available for the payment of dividends on such common
stock in accordance with law.

            (Q) "Net Proceeds" shall mean, as of any date with respect to any
Disposition of any of the businesses, assets, properties and liabilities
attributed to either the WorldCom Group or the MCI Group, an amount, if any,
equal to what remains of the gross proceeds of such Disposition after payment
of, or reasonable provision is made as determined by the board of directors for:

            (i) any taxes the Corporation estimates will be payable by the
      Corporation (or which the Corporation estimates would have been payable
      but for the utilization of tax benefits attributable to the other Group)
      in respect of such Disposition or in respect of any resulting dividend or
      redemption pursuant to Section 4(A)(i)(l)(a), Section 4(A)(i)(1)(b),
      Section 4(B)(i)(1)(a) or Section 4(B)(i)(l)(b);

            (ii) any transaction costs, including, without limitation, any
      legal, investment banking and accounting fees and expenses; and

            (iii) any liabilities (contingent or otherwise) of or attributed to
      such Group, including, without limitation, any liabilities for deferred
      taxes or any indemnity or guarantee obligations of the Corporation
      incurred in connection with the Disposition or otherwise, and any
      liabilities for future purchase price adjustments and any preferential

                                       33
<PAGE>

      amounts plus any accumulated and unpaid dividends in respect of the
      preferred stock attributed to such Group.

For purposes of this definition, any businesses, properties and assets
attributed to the Group, the businesses, assets, properties and liabilities of
which are subject to such Disposition, remaining after such Disposition shall
constitute "reasonable provision" for such amount of taxes, costs and
liabilities (contingent or otherwise) as the Board of Directors determines can
be expected to be supported by such businesses, properties and assets.

            (R) "Number of Shares Issuable with Respect to the Inter-Group
Interest" shall mean with respect to any Issuer Group, a number of shares of the
series of common stock related to such Issuer Group that are deemed to be held
by a Holder Group. The Number of Shares Issuable with Respect to the Inter-Group
Interest with respect to the WorldCom Stock and MCI Stock shall initially each
be zero and in each case shall be adjusted, increased or decreased from time to
time pursuant to Section 5.

            (S) "Outstanding Interest Fraction" shall mean, as of any date with
respect to WorldCom Stock or MCI Stock, the fraction (which may simplify to
1/1), the numerator of which shall be the number of outstanding shares of such
series of common stock on such date and the denominator of which shall be the
sum of the number of outstanding shares of such series of common stock on such
date and the Number of Shares Issuable with Respect to the Inter-Group Interest
in the Group related to such series of common stock on such date. A statement
setting forth the Outstanding Interest Fraction for any series of common stock
as of the record date for the payment of any distribution or share dividend on
any series of common stock shall be filed by the secretary of the Corporation in
the records of the actions of the board of directors not later than ten days
after such date.

            (T) "Person" shall mean any individual, corporation, partnership,
limited liability company, joint venture, association, joint stock company,
trust, unincorporated organization, government or agency or political
subdivision thereof, or other entity, whether acting in an individual, fiduciary
or other capacity.

            (U) "Publicly Traded" shall mean, with respect to any security:

            (i) registered under Section 12 of the Securities Exchange Act of
      1934, as amended (or any successor provision of law); and

            (ii) listed for trading on the New York Stock Exchange or the
      American Stock Exchange (or any national securities exchange registered
      under Section 7 of the Securities Exchange Act of 1934, as amended (or any
      successor provision of law), that is the successor to either such
      exchange) or quoted in the Nasdaq National Market (or any successor market
      system).

            (V) "Redemption Date" shall mean the date fixed by the board of
directors as the effective date for a redemption of shares of any series of
common stock, as set forth in a notice to holders thereof required pursuant to
Section 4(G)(iii), Section 4(G)(iv) or Section 4(G)(vi).

                                       34
<PAGE>

            (W) "Related Business Transaction" shall mean any Disposition of all
or substantially all of the businesses, assets, properties and liabilities
attributed to the WorldCom Group or the MCI Group, as the case may be, in a
transaction or series of related transactions that result in the Corporation,
one or more of its Subsidiaries or the holders of common stock receiving in
consideration of such businesses, assets, properties and liabilities primarily
equity securities (including, without limitation, capital stock, debt securities
convertible into or exchangeable for equity securities or interests in a general
or limited partnership or limited liability company, without regard to the
voting power or other management or governance rights associated therewith) of
any entity which:

            (i) acquires such assets or properties or succeeds (by merger,
      formation of a joint venture or otherwise) to the business conducted with
      such assets or properties or controls such acquiror or successor; and

            (ii) the board of directors determines is primarily engaged or
      proposes to engage primarily in one or more businesses similar or
      complementary to the businesses conducted by such Group prior to such
      Disposition.

            (X) "Share dividend" shall have the meaning contained in the Georgia
Business Corporation Code, as in effect on the Initial Issuance Date.

            (Y) "Subsidiary" shall mean, with respect to any Person, any
corporation, limited liability company or partnership 50% or more of whose
outstanding voting securities or membership or partnership interests, as the
case may be, are, directly or indirectly, owned by such Person.

            (Z) "Substantially all of the businesses, assets, properties and
liabilities" shall have the meaning specified in Section 4(A)(ii) or Section
4(B)(ii), as applicable.

            (AA) "Tax Event" shall mean receipt by the Corporation of an opinion
of its tax counsel to the effect that, as a result of any amendment to,
clarification of, or change or proposed change in, the laws (or any
interpretation or application of the laws) of the United States or any political
subdivision or taxing authority thereof or therein (including, but not limited
to, the enactment of any legislation, the publication of any judicial or
regulatory decision, determination or pronouncement or any announced proposed
change in law by an applicable legislative committee or the chair thereof),
regardless of whether such amendment, clarification, change or proposed change
is issued to or in connection with a proceeding involving the Corporation, the
WorldCom Group or the MCI Group and whether or not subject to appeal, there is
more than an insubstantial risk that:

            (i) for tax purposes, any issuance of WorldCom Stock or MCI Stock
      would be treated as a sale or other taxable disposition by the Corporation
      or any of its subsidiaries of any of the assets, operations or relevant
      subsidiaries to which the WorldCom Stock or MCI Stock relates;

            (ii) the issuance or existence of WorldCom Stock or MCI Stock would
      subject the Corporation, its subsidiaries or affiliates, or any of their
      respective successors or shareholders to the imposition of tax or to other
      adverse tax consequences; or

                                       35
<PAGE>

            (iii) for tax purposes, either WorldCom Stock or MCI Stock is not
      or, at any time in the future will not be, treated solely as common stock
      of the Corporation.

For purposes of rendering such opinion, tax counsel shall assume that any
legislative or administrative proposals will be adopted or enacted as proposed.

            (BB) "Trading Day" shall mean each weekday other than any day on
which the relevant series of common stock is not traded on any national
securities exchange or quoted on the Nasdaq National Market or otherwise in the
over-the-counter market.

            (CC) "WorldCom Group" shall mean, as of any date:

            (i) the interest of the Corporation and any of its subsidiaries on
      such date in all of the businesses, assets, properties and liabilities of
      the Corporation and any of its subsidiaries (and any successor companies),
      other than any businesses, assets, properties and liabilities attributed
      in accordance with these Second Amended and Restated Articles of
      Incorporation to the MCI Group pursuant to Section 7(O)(i);

            (ii) the interest of the Corporation or any of its subsidiaries in
      any business, asset or property acquired and any liabilities assumed by
      the Corporation or any of its subsidiaries and attributed to the WorldCom
      Group, as determined by the board of directors as contemplated by Section
      6(A);

            (iii) all businesses, assets, properties and liabilities transferred
      to the WorldCom Group from the MCI Group (other than in a transaction
      pursuant to clause (v) and (vi) of this Section 7(CC)) pursuant to
      transactions in the ordinary course of business of the WorldCom Group and
      the MCI Group or otherwise as the board of directors may have directed as
      permitted by these Second Amended and Restated Articles of Incorporation;

            (iv) a proportionate undivided interest in each and every business,
      asset, property and liability attributed to the MCI Group equal to the
      Inter-Group Interest in the MCI Group held by the WorldCom Group as of
      such date;

            (v) all businesses, assets, properties and liabilities transferred
      to the WorldCom Group from the MCI Group in connection with an increase in
      the Inter-Group Interest in the WorldCom Group held by the MCI Group;

            (vi) all businesses, assets, properties and liabilities transferred
      to the WorldCom Group from the MCI Group in connection with a decrease in
      the Inter-Group Interest in the MCI Group held by the WorldCom Group;

            (vii) any assets (including securities) or properties attributed to
      the WorldCom Group pursuant to Section 5(B) or Section 5(C); and

            (viii) all net income and net losses arising in respect of the
      foregoing and proceeds of the Disposition thereof;

                                       36
<PAGE>

provided that from and after any transfer of any businesses, assets, properties
or liabilities from the WorldCom Group to the MCI Group as permitted by these
Second Amended and Restated Articles of Incorporation, the WorldCom Group shall
no longer include such businesses, assets, properties or liabilities so
contributed or transferred (other than as reflected, to the extent applicable,
in respect of such a transfer by the Inter-Group Interest in the MCI Group held
by the WorldCom Group).

            (DD) "WorldCom Group Available Distribution Amount" shall mean, on
any date, the product of:

            (i) the Outstanding Interest Fraction with respect to WorldCom
      Stock; and

            (ii) the lesser of:

                        (x) any amount in excess of the minimum amount necessary
                  for the WorldCom Group to pay debts attributed to the WorldCom
                  Group as they become due in the usual course of business; and

                        (y) the total assets attributed to the WorldCom Group,
                  less the sum of its total liabilities plus (unless these
                  Second Amended and Restated Articles of Incorporation provide
                  otherwise) the amount that would be needed if the Corporation
                  were to be dissolved at the time of the distribution, to
                  satisfy the preferential rights upon dissolution of shares of
                  stock attributed to the WorldCom Group superior to the
                  WorldCom Stock.

Notwithstanding the foregoing provisions of this Section 7(DD), and consistent
with Section 6(B), at any time when there are not outstanding both:

            (i) one or more shares of WorldCom Stock or Convertible Securities
      convertible into or exchangeable or exercisable for WorldCom Stock; and

            (ii) one or more shares of MCI Stock or Convertible Series
      convertible into or exchangeable or exercisable for MCI Stock,

the "Available Distribution Amount," on any calculation date during such time
period, with respect to the WorldCom Stock or the MCI Stock (depending on which
of such series of common stock or Convertible Securities convertible into or
exchangeable or exercisable for such series of common stock is outstanding),
shall mean the amount available for the payment of dividends on such common
stock in accordance with law.

            Section 8. Severability of Provisions. If any term of any provision
with respect to voting powers, preferences, designations, rights,
qualifications, limitations or restrictions of the WorldCom Stock or the MCI
Stock set forth in this Section A of Article 4 (as it may be amended from time
to time) is invalid, unlawful or incapable of being enforced by reason of any
rule of law or public policy, all other terms and provisions with respect to
voting powers, preferences, designations, rights, qualifications, limitations or
restrictions of the WorldCom Stock or the MCI Stock set forth in this Section A
of Article 4 (as it may be amended from time to time) which can be given effect
without the invalid, unlawful or unenforceable voting powers,

                                       37
<PAGE>

preferences, designations, rights, qualifications, limitations or restrictions
of such series shall, nevertheless, remain in full force and effect, and no term
of such series of common stock herein set forth shall be deemed dependent upon
any other terms with respect to such voting powers, preferences, designations,
rights, qualifications, limitations or restrictions of the WorldCom Stock or the
MCI Stock unless so expressed herein.

                                       38EXHIBIT 4.3

                              ARTICLES OF AMENDMENT
                                  TO THE SECOND
                              AMENDED AND RESTATED
                            ARTICLES OF INCORPORATION
                                       OF
                                 WORLDCOM, INC.

                                       1.

      The name of the Corporation is WorldCom, Inc.

                                       2.

      Effective the date hereof, Article Eleven of the Second Amended and
Restated Articles of Incorporation of the Corporation, as amended, is hereby
amended by deleting the text thereof and substituting therefor the text of the
amendments attached hereto as Exhibit A.

                                       3.

      All other provisions of the Second Amended and Restated Articles of
Incorporation, as previously amended, shall remain in full force and effect.

                                       4.

      The provisions of Article Eleven of the Second Amended and Restated
Articles of Incorporation, as amended, were duly approved by the shareholders of
the Corporation in accordance with the provisions of Section 14-2-1003 of the
Georgia Business Corporation Code on the 7th day of June, 2001.

                                       5.

      The provisions of Article Eleven of the Second Amended and Restated
Articles of Incorporation, as amended, were duly adopted and authorized by the
Board of Directors of the Corporation on October 31, 2000.

      IN WITNESS WHEREOF, the Corporation has caused these Articles of Amendment
to be executed by its duly authorized officer, this 7th day of June, 2001.

                                 WORLDCOM, INC.

                             By:  /s/ Bernard J. Ebbers
                                 ---------------------------
                                 Name:  Bernard J. Ebbers
                                 Title: President

<Page>

                                                                     Exhibit A

                                     ELEVEN

      (a) In addition to the requirements of the provisions of any series of
preferred stock which may be outstanding, and whether or not a vote of the
shareholders is otherwise required, the affirmative vote of the holders of not
less than seventy percent (70%) of the voting power of the Corporation's Voting
Stock shall be required for the approval or authorization of any Business
Transaction with a Related Person, or any Business Transaction in which a
Related Person has an interest (other than only a proportionate interest as a
shareholder of the corporation); provided, however, that the seventy percent
(70%) voting requirement shall not be applicable if (i) the Business Transaction
is Duly Approved by the Continuing Directors, or (ii) all of the following
conditions are satisfied:

            (i) the aggregate amount of cash and the fair market value of the
      property, securities or other consideration to be received per share, (on
      the date of effectiveness of such Business Transaction) for a particular
      class or series of a class if there is more than one series in a class, by
      holders of capital stock of the Corporation (other than such Related
      Person) in connection with such Business Transaction is at least equal in
      value to such Related Person's Highest Stock Purchase Price for such class
      or series;

            (ii) the consideration to be received by holders of capital stock of
      the Corporation in connection with such Business Transaction is in (a)
      cash, or (b) if the majority of the shares of any particular class or
      series of stock of the Corporation as to which the Related Person is the
      Beneficial Owner shall have been acquired for a consideration in a form
      other than cash, in the same form of consideration used by the Related
      Person to acquire the largest number of shares of such class or series of
      stock;

            (iii) after such Related Person has become a Related Person and
      prior to the consummation of such Business Transaction, such Related
      Person shall not have become the Beneficial Owner of any additional shares
      of capital stock of the Corporation or securities convertible into capital
      stock of the Corporation, except (i) as a part of the transaction which
      resulted in such Related Person becoming a Related Person or (ii) as a
      result of a pro rata stock dividend or stock split;

            (iv) prior to the consummation of such Business Transaction, such
      Related Person shall not have, directly or indirectly, except as Duly
      Approved by the Continuing Directors (i) received the benefit (other than
      only a proportionate benefit as a shareholder of the corporation) of any
      loans, advances, guarantees, pledges or other financial assistance or tax
      credits or tax advantages provided by the Corporation or any of its
      subsidiaries, (ii) caused any material change in the Corporation's
      business or equity capital structure, including, without limitation, the
      issuance of shares of capital stock of the Corporation, or other
      securities convertible into or exercisable for such shares, or (iii)
      caused the Corporation to fail to declare and pay at the regular date
      therefor quarterly cash dividends on the

<Page>

      outstanding capital stock of the Corporation entitled to receive
      dividends, on a per share basis at least equal to the cash dividends being
      paid thereon by the corporation immediately prior to the date on which the
      Related Person became a Related Person; and

            (v) a proxy or information statement describing the proposed
      Business Transaction and complying with the requirements of the Securities
      Exchange Act of 1934, as amended (the "Act"), and the rules and
      regulations thereunder (or any subsequent provisions replacing the Act or
      such rules or regulations) shall be mailed to shareholders of the
      Corporation at least thirty (30) days prior to the consummation of such
      Business Transaction (whether or not such proxy or information statement
      is required to be mailed pursuant to the Act and such rules and
      regulations or subsequent provisions).

      (b) For the purpose of this Article ELEVEN:

            (i) The term "Affiliate", used to indicate a relationship to a
      specified person, shall mean a person that directly, or indirectly through
      one or more intermediaries, controls, or is controlled by, or is under
      common control with, such specified person.

            (ii) The term "Associate", used to indicate a relationship with a
      specified person, shall mean (A) any corporation, partnership or other
      organization of which such specified person is an officer or partner, (B)
      any trust or other estate in which such specified person has a substantial
      beneficial interest or as to which such specified person serves as trustee
      or in a similar fiduciary capacity, (C) any relative or spouse of such
      specified person who has the same home as such specified person or who is
      a director or officer of the corporation or any of its subsidiaries, and
      (D) any person who is a director, officer or partner of such specified
      person or of any corporation (other than the corporation or any
      wholly-owned subsidiary of the corporation), partnership or other entity
      which is an Affiliate of such specified person.

            (iii) The term "Beneficial Owner" shall be defined by reference to
      Rule 13d-3 under the Act as in effect on September 15, 1993; provided,
      however, that any individual, corporation, partnership, group, association
      or other person or entity which has the right to acquire any capital stock
      of the corporation having voting power at any time in the future, whether
      such right is contingent or absolute, pursuant to any agreement,
      arrangement or understanding or upon exercise of conversion rights,
      warrants or options, or otherwise, shall be deemed the Beneficial Owner of
      such capital stock.

            (iv) The term "Business Transaction" shall mean: (A) any merger,
      share exchange or consolidation involving the Corporation or a subsidiary
      of the Corporation; (B) any sale, lease, exchange, transfer or other
      disposition (in one transaction or a series of related transactions),
      including, without limitation, a mortgage, pledge or any other security
      device of all or any Substantial Part of the

                                     3
<Page>

      assets either of the Corporation or of a subsidiary of the Corporation;
      (C) any sale, lease, exchange, transfer or other disposition (in one
      transaction or a series of related transactions) of all or any Substantial
      Part of the assets of any entity to the Corporation or a subsidiary of the
      Corporation; (D) the issuance, sale, exchange, transfer or other
      disposition (in one transaction or a series of related transactions) by
      the Corporation or a subsidiary of the Corporation of any securities of
      the Corporation or any subsidiary of the Corporation in exchange for cash,
      securities or other property, or a combination thereof, having an
      aggregate fair market value of $15 million or more; (E) any merger, share
      exchange or consolidation of the Corporation with any of its subsidiaries
      or any similar transaction in which the Corporation is not the survivor
      and the charter or certificate or articles of incorporation of the
      consolidated or surviving Corporation do not contain provisions
      substantially similar to those in this Article ELEVEN; (F) any
      recapitalization or reorganization of the Corporation or any
      reclassification of the securities of the Corporation (including, without
      limitation, any reverse stock split) or other transaction that would have
      the effect of increasing the voting power of a Related Person or reducing
      the number of shares of each class of voting securities outstanding; (G)
      any liquidation, spin-off, split-off, split-up or dissolution of the
      Corporation; and (H) any agreement, contract or other arrangement
      providing for any of the transactions described in this definition of
      Business Transaction or having a similar purpose or effect.

            (v) The term "Continuing Director" shall mean a director who either
      was a member of the Board of Directors of the Corporation on September 15,
      1993, or who became a director of the Corporation subsequent to such date
      and whose election or nomination for election by the Corporation's
      shareholders was Duly Approved by the Continuing Directors then on the
      Board, either by a specific vote or by approval of the proxy statement
      issued by the Corporation on behalf of the Board of Directors in which
      such person is named as nominee for director; provided, however, that in
      no event shall a director be considered a "Continuing Director" if such
      director is a Related Person and the Business Transaction to be voted upon
      is with such Related Person or is one in which such Related Person has an
      interest (other than only a proportionate interest as a shareholder of the
      Corporation).

            (vi) The term "Duly Approved by the Continuing Directors" shall mean
      an action approved by the vote of at least a majority of the Continuing
      Directors then on the Board; provided, however, that if the votes of such
      Continuing Directors in favor of such action would be insufficient to
      constitute an act of the Board of Directors (if a vote by the entire Board
      of Directors were to have been taken), then such term shall mean an action
      approved by the unanimous vote of the Continuing Directors so long as
      there are at least three (3) Continuing Directors on the Board of
      Directors at the time of such unanimous vote.

            (vii) The term "Fair Market Value", in the case of stock, means the
      highest closing sale price during the 30-day period immediately preceding
      the date in question of a share of such stock on the Composite Tape for
      New York Stock

                                     4
<Page>

      Exchange Listed Stocks, or, if such stock is not listed on such Exchange,
      on the principal United States securities exchange registered under the
      Act on which such stock is listed, or, if such stock is not listed on any
      such exchange, the highest closing bid quotation with respect to a share
      of such stock during the 30-day period preceding the date in question on
      the National Association of Securities Dealers, Inc. Automated Quotations
      System or any system then in use, or if no such quotations are available,
      the fair market value on the date in question of a share of such stock as
      determined by a majority of the Continuing Directors in good faith.

            (viii) The term "Highest Stock Purchase Price" with respect to
      shares of a particular class, or series of a class if there are more than
      one series in a class, shall mean the greatest of the following:

                  (A) the highest amount of consideration paid by a Related
            Person for a share of such class or series of capital stock of the
            Corporation (including any brokerage commissions, transfer taxes and
            soliciting dealers' fees) in the transaction which resulted in such
            Related Person becoming a Related Person or within two years prior
            to the first public announcement of the Business Transaction (the
            "Announcement Date"), whichever is higher; provided, however, that
            the Highest Stock Purchase Price calculated under this subsection
            (A) shall be appropriately adjusted to reflect the occurrence of any
            reclassification, recapitalization, stock-split, reverse stock-split
            or other similar corporate readjustment in the number or kind of
            outstanding shares of capital stock of the Corporation between the
            last date upon which such Related Person paid the Highest Stock
            Purchase Price up to the effective date of the merger, share
            exchange or consolidation or the date of distribution to
            shareholders of the Corporation of the proceeds from the sale of
            substantially all of the assets of the Corporation referred to in
            subparagraph (i) of Section (a)(ii) of this Article Eleven;

                  (B) the Fair Market Value per share of ^such classes^ or
            series of stock of the Corporation on the Announcement Date;

                  (C) the Fair Market Value per share of ^such classes^ or
            series of stock of the Corporation on the date that the Related
            Person becomes a Related Person;

                  (D) if applicable, the Fair Market Value per share determined
            pursuant to subsection (b)(viii)(B) or (C) of this Article ELEVEN,
            whichever is higher, multiplied by the ratio of (i) the highest
            price per share (including any brokerage commissions, transfer taxes
            or soliciting dealers' fees and adjusted for any subsequent stock
            dividends, splits, combinations, recapitalizations,
            reclassifications or other such reorganizations) paid to acquire any
            shares of such ^ classes^ or series Beneficially Owned by the
            Related Person within the two years prior to the Announcement Date,
            to (ii) the Fair Market Value per share (adjusted for any subsequent
            stock dividends,

                                     5
<Page>

            splits, combinations, recapitalizations, reclassifications or other
            such reorganizations) of shares of such ^classes^ or series on the
            first day in the two-year period ending on the Announcement Date on
            which such shares Beneficially Owned by the Related Person were
            acquired; or

                  (E) the amount per share of any preferential payment to which
            holders of shares of such ^classes^ or series are entitled in the
            event of a liquidation, dissolution or winding up of the
            Corporation.

            (ix) ^The phrase "property, securities or other consideration to be
      received", for the purpose of subparagraph (i) of Section (a)(ii) of this
      Article ELEVEN and in the event of a merger in which the corporation is
      the surviving corporation, shall include, without limitation, common stock
      of the Corporation retained by its shareholders (other than such Related
      Person).

            (x) The term "Related Person" shall mean and include (A) any
      individual, corporation, partnership, group, association or other person
      or entity which, together with its Affiliates and Associates, is the
      Beneficial Owner of not less than ten percent (10%) of the voting power of
      the issued and outstanding capital stock of the Corporation entitled to
      vote or was the Beneficial Owner of not less than ten percent (10%) of the
      voting power of the issued and outstanding capital stock of the
      Corporation entitled to vote (x) at the time the definitive agreement
      providing for the Business Transaction (including any amendment thereof)
      was entered into, (y) at the time resolution approving the Business
      Transaction was adopted by the Board of Directors of the Corporation, or
      (z) as of the record date for the determination of shareholders entitled
      to notice of and to vote on or consent to the Business Transaction, and
      (B) any Affiliate or Associate of any such individual, corporation,
      partnership, group, association or other person or entity; provided,
      however, and notwithstanding any thing in the foregoing to the contrary,
      that the term "Related Person" shall not include the Corporation, a more
      than 90% owned subsidiary of the Corporation, any employee stock ownership
      or other employee benefit plan of either the Corporation or any more than
      90% owned subsidiary of the Corporation, or any trustee of or fiduciary
      with respect to any such plan when acting in such capacity.

            (xi) The term "Substantial Part" shall mean more than twenty percent
      (20%) of the total assets of the entity in question, as reflected on the
      most recent consolidated balance sheet of such entity existing at the time
      the shareholders of the Corporation would be required to approve or
      authorize the Business Transaction involving the assets constituting any
      such Substantial Part.

            (xii) The term "Voting Stock" shall mean all outstanding shares of
      capital stock of the Corporation whose holders are present at a meeting of
      shareholders, in person or by proxy, and which entitle their holders to
      vote generally in the election of directors, and considered for the
      purpose of this Article ELEVEN as one class.

                                     6
<Page>

      (c) For the purpose of this Article ELEVEN, so long as Continuing
Directors constitute at least two-thirds (2/3) of the entire Board of Directors
of the Corporation, the Board of Directors shall have the power to make a good
faith determination, on the basis of information known to them, of (i) the
number of shares of Voting Stock of which any person is the Beneficial Owner,
(ii) whether a person is a Related Person or is an Affiliate or Associate of
another, (iii) whether a person has an agreement, arrangement or understanding
with another as to the matters referred to in the definition of Beneficial Owner
herein, (iv) whether the assets subject to any Business Transaction constitute a
Substantial Part, (v) whether any Business Transaction is with a Related Person
or is one in which a Related Person has an interest (other than only a
proportionate interest as a shareholder of the corporation), (vi) whether a
Related Person has, directly or indirectly, received the benefits or caused any
of the changes referred to in subparagraph (iv) of clause (ii) of Section (a) of
this Article ELEVEN, (vii) the fair market value of any consideration to be
received in a Business Transaction and (viii) such other matters with respect to
which a determination is required under this Article ELEVEN; and such
determination by the Board of Directors shall be conclusive and binding for all
purposes of this Article ELEVEN.

      (d) Nothing contained in this Article ELEVEN shall be construed to relieve
any Related Person of any fiduciary obligation imposed by law.

      (e) The fact that any Business Transaction complies with the provisions of
Section (a) of this Article ELEVEN shall not be construed to impose any
fiduciary duty, obligation or responsibility on the Board of Directors, or any
member thereof, to approve such Business Transaction or recommend its adoption
or approval to the shareholders of the corporation.

      (f) Notwithstanding any other provisions of these Second Amended and
Restated Articles of Incorporation or the Bylaws of the corporation (and
notwithstanding that a lesser percentage may be permitted by law), the
provisions of this Article ELEVEN may not be repealed or amended, directly or
indirectly in any respect, unless such action is approved by the affirmative
vote of the holders of not less than seventy percent (70%) of the voting power
of the Corporation's Voting Stock.

                                        7

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