Document:

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                                                                   Exhibit 4.9

                                VOTING AGREEMENT

     THIS VOTING AGREEMENT (the "AGREEMENT") is entered into as of March 11,
2000, between the undersigned shareholders (the "SHAREHOLDERS") of GlobeNet
Communications Group Limited, a Bermuda company (the "COMPANY"), and Worldwide
Fiber Inc., a Canadian corporation ("WFI").

     WHEREAS, concurrently with the execution and delivery of this Agreement,
WFI and the Company have entered into an Agreement and Plan of Arrangement dated
as of March 10, 2000 (the "ARRANGEMENT AGREEMENT"), providing for the exchange
of shares of the Company and WFI (the "ARRANGEMENT") pursuant to the terms and
conditions of the Arrangement Agreement, and setting forth certain
representations, warranties, covenants and agreements of the parties thereto in
connection with the Arrangement; and

     WHEREAS, as an inducement and a condition to WFI entering into the
Arrangement Agreement, pursuant to which each Shareholder will receive Class A
Voting Shares, of WFI as specified in the Arrangement Agreement (the "WFI Class
A Stock") in exchange for each common share, par value $1.50 per share, of the
Company ("COMMON SHARES") and each share of Class B restricted voting shares,
par value $1.50 per share, of the Company ("CLASS B SHARES" and with the Common
Shares, collectively, "COMPANY COMMON STOCK") owned by such Shareholder, the
Shareholders each have agreed to enter into this Agreement;

     NOW, THEREFORE, for good and valuable consideration, the receipt,
sufficiency and adequacy of which is hereby acknowledged, the parties hereto
agree as follows:

     1. REPRESENTATIONS OF SHAREHOLDERS. Each of the Shareholders severally
represents as to himself or herself that such Shareholder:

          (a) is the holder in the capacity set forth on Exhibit A hereto of
     that number of shares of Company Common Stock set forth opposite such
     Shareholder's name on Exhibit A (such Shareholder's "SHARES");

          (b) does not beneficially own (as such term is defined in the
     Securities Exchange Act of 1934, as amended (the "1934 ACT")) any shares of
     Company Common Stock other than his or her Shares;

          (c) has the right, power and authority to execute and deliver this
     Agreement and to perform his obligations under this Agreement, and this
     Agreement has been duly executed and delivered by such Shareholder and
     constitutes a valid and legally binding agreement of such Shareholder,
     enforceable in accordance with its terms, subject to bankruptcy,
     insolvency, fraudulent transfer, reorganization, moratorium and similar
     laws of general applicability relating to or affecting creditors' rights
     and to general equity

<PAGE>

     principles; and such execution, delivery and performance by Shareholder of
     this Agreement will not (i) conflict with, require a consent, waiver or
     approval under, or result in a breach of or default under, any of the terms
     of any contract, commitment or other obligation (written or oral) to which
     such Shareholder is a party or by which such Shareholder is bound; (ii)
     violate any order, writ, injunction decree or statute, or any rule or
     regulation, applicable to Shareholder or any of the properties or assets of
     Shareholder; or (iii) result in the creation of, or impose any obligation
     on such Shareholder to create, any lien, charge or other encumbrance of any
     nature whatsoever upon the Shares;

          (d) There is no private or governmental action, suit, proceeding,
     claim, arbitration or investigation pending before any agency, court or
     tribunal, foreign or domestic, or, to the knowledge of such Shareholder or
     any of his affiliates, threatened against such Shareholder or any of his
     affiliates or any of their respective properties or any of their respective
     officers or directors, in the case of a corporate entity (in their
     capacities as such) that, individually or in the aggregate, could
     reasonably be expected to have a material adverse effect on his ability to
     consummate the transactions contemplated by this Agreement and the
     Arrangement Agreement. There is no judgment, decree or order against such
     Shareholder or any of his affiliates or, to the knowledge of such
     Shareholder or any of his affiliates, any of their respective directors or
     officers, in the case of a corporate entity (in their capacities as such)
     that could prevent, enjoin, alter or materially delay any of the
     transactions contemplated by this Agreement and the Arrangement Agreement,
     or that could reasonably be expected to have a material adverse effect on
     such Shareholder's ability to consummate the transactions contemplated by
     this Agreement and the Arrangement Agreement.

          (e) the Shares are now and will at all times during the term of this
     Agreement be held by such Shareholder, or by a nominee or custodian for the
     account of such Shareholder, free and clear of all pledges, liens, proxies,
     claims, charges, security interests, preemptive rights and any other
     encumbrances whatsoever with respect to the ownership, transfer or voting
     of such Shares; and except for the Amended and Restated Securityholders'
     Agreement, dated July 14, 1999 among the Company and 22 shareholders of the
     Company, there are no outstanding options, warrants or rights to purchase
     or acquire, or other agreements relating to, such Shares other than this
     Agreement.

The representations and warranties contained herein shall be made as of the date
hereof and on the date that the Arrangement is consummated.

     2. AGREEMENT TO VOTE SHARES. Each of the Shareholders severally agrees to
vote his or her Shares and any New Shares (as defined in Section 7 hereof), and
shall cause any holder of record of his or her Shares or New Shares to vote, (a)
in favor of adoption and approval of the Arrangement Agreement and the
Arrangement (and each other action and transaction contemplated by the
Arrangement Agreement and this Agreement) at every meeting of the shareholders
of the Company at which such matters are considered and at every adjournment
thereof and (b) against any action or proposal

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<PAGE>

that would compete with or could serve to materially interfere with, delay,
discourage, adversely affect or inhibit the timely consummation of the
Arrangement. Any such vote shall be cast or consent shall be given in accordance
with such procedures relating thereto as shall ensure that it is duly counted
for purposes of determining that a quorum is present and for purposes of
recording the results of such vote or consent. Each Shareholder severally agrees
to deliver to WFI upon request a proxy substantially in the form attached hereto
as Exhibit B, which proxy shall be coupled with an interest and irrevocable to
the extent permitted under Bermuda law, with the total number of such
Shareholder's Shares and any New Shares correctly indicated thereon. Each
Shareholder also agrees to use his reasonable efforts to take, or cause to be
taken, all action, and do, or cause to be done, all things necessary or
advisable in order to consummate and make effective the transactions
contemplated by this Agreement.

     3. NO VOTING TRUSTS. After the date hereof, the Shareholders severally
agree that they will not, nor will they permit any entity under their control
to, deposit any of their Shares in a voting trust or subject any of their Shares
to any arrangement with respect to the voting of such Shares other than
agreements entered into with WFI.

     4. NO PROXY SOLICITATIONS. Each of the Shareholders severally agrees that
such Shareholder will not, nor will such Shareholder permit any entity under
their control to, (a) solicit proxies or become a "participant" in a
"solicitation" (as such terms are defined in Regulation 14A under the 1934 Act)
in opposition to or competition with the consummation of the Arrangement or
otherwise encourage or assist any party in taking or planning any action which
would compete with or otherwise could serve to materially interfere with, delay,
discourage, adversely affect or inhibit the timely consummation of the
Arrangement in accordance with the terms of the Arrangement Agreement, (b)
directly or indirectly encourage, initiate or cooperate in a shareholders' vote
or action by consent of the Company's shareholders in opposition to or in
competition with the consummation of the Arrangement, or (c) become a member of
a "group" (as such term is used in Section 13(d) of the 1934 Act) with respect
to any voting securities of the Company for the purpose of opposing or competing
with the consummation of the Arrangement; provided, that the foregoing shall not
restrict any director of the Company from taking any action such director
believes is necessary to satisfy such director's fiduciary duty to shareholders
of the Company.

     5. TRANSFER AND ENCUMBRANCE. On or after the date hereof, each of the
Shareholders severally agrees not to voluntarily transfer, sell, offer, pledge
or otherwise dispose of or encumber ("TRANSFER") any of his or her Shares or New
Shares prior to the earlier of (a) the effective date of the Arrangement or (b)
the date this Agreement shall be terminated in accordance with its terms, except
that each of the Shareholders will be permitted to Transfer any of his or her
Shares or New Shares to an Affiliate (as defined in the Arrangement Agreement)
of such Shareholder provided, that such Affiliate agrees in writing to be bound
by the terms of this Agreement with respect to such Shares and New Shares.

     6. LEGEND. As soon as practicable after the execution of this Agreement,
each Shareholder shall surrender to the Company the certificates representing
the Shares

                                       3
<PAGE>

in his or her possession (and within 30 days the Shares not in his or her
possession), shall cause the following legend to be placed on the certificates
representing such Shares (in addition to any existing legend) and shall request
that such legend remain thereon until the earlier of (i) expiration or
termination of this Agreement or (ii) the consummation of the Arrangement:

          "The shares of capital stock represented by this certificate are
          subject to a Voting Agreement, dated as of March 10, 2000, among the
          Shareholders named therein and WFI, which, among other things, (a)
          restricts the sale or transfer of such shares except in accordance
          therewith, and (b) restricts the voting of such shares except in
          accordance therewith."

In the event that WFI requests that a proxy be executed and delivered by a
Shareholder to it pursuant to Section 2 hereof, such Shareholder shall promptly
surrender to the Company the certificates representing the Shares covered by
such proxy and cause the foregoing legend to be revised to add to the end of
such legend the following words:

          ", and such shares are also subject to an irrevocable proxy."

Each Shareholder shall provide WFI with reasonably satisfactory evidence of its
compliance with this Section 6 on or prior to the date five business days after
the execution hereof with respect to Shares in his possession (or within 30 days
with respect to Shares not in his possession) or of the request relating to such
Shareholder's proxy, as the case may be.

     7. ADDITIONAL PURCHASES. Each of the Shareholders severally agrees that in
the event (i) any stock dividend, stock split, recapitalization,
reclassification, combination or exchange of shares of capital stock of the
Company on, of or affecting the Shares of a Shareholder, (ii) such Shareholder
purchases or otherwise acquires beneficial ownership of any shares of Company
Common Stock after the execution of this Agreement, or (iii) such Shareholder
voluntarily acquires the right to vote or share in the voting of any shares of
Company Common Stock other than the Shares (collectively, "NEW SHARES"), such
Shareholder agrees to deliver promptly to WFI upon request of WFI an irrevocable
proxy substantially in the form attached hereto as Exhibit B with respect to
such New Shares. Each of the Shareholders also severally agrees that any New
Shares acquired or purchased by him or her shall be subject to the terms of this
Agreement to the same extent as if they constituted Shares.

     8. WFI CLASS A STOCK. Each of the Shareholders severally agree, that for a
period of 12 months commencing on the date of the Initial Public Offering (as
defined in the Arrangement Agreement), not to voluntarily Transfer any of the
WFI Class A Stock which it receives pursuant to the Arrangement Agreement,
except that each of the Shareholders will be permitted to Transfer any of the
WFI Class A Stock which it receives pursuant to the Merger Agreement to an
Affiliate of such Shareholder or a limited partner of such Shareholder,
provided, that such Transfer is exempt from registration under the Securities
Act of 1933, as amended and provided, further, that such

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<PAGE>

Affiliate or limited partner agrees in writing to be bound by the terms of this
Agreement with respect to such shares of WFI Class A Stock.

     9. SPECIFIC PERFORMANCE. Each party hereto severally acknowledges that it
will be impossible to measure in money the damage to the other parties if a
party hereto fails to comply with any of the obligations imposed by this
Agreement, and that, in the event of any such failure, the other parties will
not have an adequate remedy at law or damages. Accordingly, each party hereto
severally agrees that injunctive relief or other equitable remedy, in addition
to remedies at law or damages, is the appropriate remedy for any such failure.
Each party hereto severally agrees that it will not seek, and agrees to waive
any requirement for, the securing or posting of a bond in connection with any
other party's seeking or obtaining such equitable relief.

     10. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns
and shall not be assignable without the written consent of all other parties
hereto.

     11. ENTIRE AGREEMENT. This Agreement supersedes all prior agreements,
written or oral, among the parties hereto with respect to the subject matter
hereof and contains the entire agreement among the parties with respect to the
subject matter hereof. This Agreement may not be amended, supplemented or
modified, and no provisions hereof may be modified or waived, except by an
instrument in writing signed by all the parties hereto. No waiver of any
provisions hereof by any party shall be deemed a waiver of any other provisions
hereof by any such party, nor shall any such waiver be deemed a continuing
waiver of any provision hereof by such party.

     12. MISCELLANEOUS.

          (a) This Agreement shall be deemed a contract made under, and for all
     purposes shall be construed in accordance with, the laws of the State of
     New York without regard to principles of conflict of laws.

          (b) If any provision of this Agreement or the application of such
     provision to any person or circumstances shall be held invalid by a court
     of competent jurisdiction, the remainder of the provision held invalid and
     the application of such provision to persons or circumstances, other than
     the party as to which it is held invalid, shall not be affected.

          (c) This Agreement may be executed in one or more counterparts, each
     of which shall be deemed to be an original but all of which together shall
     constitute one and the same instrument.

          (d) This Agreement shall terminate upon the earliest to occur of (i)
     the Effective Time (as defined in the Arrangement Agreement) or (ii)
     termination of the Arrangement Agreement.

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<PAGE>

          (e) All Section headings herein are for convenience of reference only
     and are not part of this Agreement, and no construction or reference shall
     be derived therefrom.

          (f) The obligations of the Shareholders set forth in this Agreement
     shall not be effective or binding upon any Shareholder until after such
     time as the Arrangement Agreement is executed and delivered by the Company
     and WFI, and the parties agree that there is not and has not been any other
     agreement, arrangement or understanding between the parties hereto with
     respect to the matters set forth herein.

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<PAGE>

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

                                    WORLDWIDE FIBER INC.

                                    By: ____________________________________
                                    Name:
                                    Title:

                                    THE STOCKHOLDERS:

                                    BOSTON VENTURES LIMITED PARTNERSHIP V

                                    By: Boston Ventures Company V, LLC,
                                        its general partner

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: One Federal Street, 23rd Floor
                                             Boston, Massachusetts 02110-2003
                                             Facsimile: (617) 350-1574

                                    KELSO INVESTMENT ASSOCIATES VI, L.P.

                                    By: Kelso GP VI, LLC, its general partner

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: 320 Park Avenue
                                             24th Floor
                                             New York, New York 10022
                                             Facsimile: (212) 223-2379

<PAGE>

                                    KEP VI, L.L.C.

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: 320 Park Avenue
                                             24th Floor
                                             New York, New York 10022
                                             Facsimile: (212) 223-2379

                                    PROVIDENCE EQUITY PARTNERS III L.P.

                                    By: Providence Equity Partners III L.L.C.,
                                        its general partner

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: Fleet Center, 9th Floor
                                              50 Kennedy Plaza
                                              Providence, Rhode Island 02903
                                              Facsimile: (401) 751-1790

                                    PROVIDENCE EQUITY OPERATING
                                    PARTNERS III L.P.

                                    By: Providence Equity Partners III L.L.C.,
                                        its general partner

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: Fleet Center, 9th Floor
                                             50 Kennedy Plaza
                                             Providence, Rhode Island 02903
                                             Facsimile: (401) 751-1790

<PAGE>

                                    SPECTRUM EQUITY INVESTORS III, L.P.

                                    By: Spectrum Equity Associates III, L.P.,
                                        its General Partner

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: One International Place
                                             29th Floor
                                             Boston, Massachusetts 02110
                                             Facsimile: (617) 464-4601

                                    SPECTRUM III ENTREPRENEURS' FUND, L.P.

                                    By: SEI III Enterpreneurs' LLC,
                                        its General Partner

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: One International Place
                                             29th Floor
                                             Boston, Massachusetts 02110
                                             Facsimile: (617) 464-4601

                                    SPECTRUM III INVESTMENT MANAGERS' FUND, L.P.

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: One International Place
                                             29th Floor
                                             Boston, Massachusetts 02110
                                             Facsimile: (617) 464-4601

<PAGE>

                                    SANDLER CAPITAL PARTNERS IV, L.P.

                                    By:  Sandler Investment Partners, L.P.,
                                         its general partner

                                    By:  Sandler Capital Management,
                                         its general partner

                                         By: MJDM Corp., a general partner

                                             By: __________________________
                                             Name: ________________________
                                             Title: _______________________

                                    Address: 767 Fifth Avenue
                                             45th Floor
                                             New York, New York 10153
                                             Facsimile: (212) 826-0269

                                    SANDLER CAPITAL PARTNERS IV FTE, L.P.

                                    By: Sandler Investment Partners, L.P.,
                                        its general partner

                                    By: Sandler Capital Management,
                                        its general partner

                                        By: _______________________________
                                        Name: _____________________________
                                        Title: ____________________________

                                    Address: 767 Fifth Avenue
                                             45th Floor
                                             New York, New York 10153
                                             Facsimile: (212) 826-0269

<PAGE>

                                    CAPITAL COMMUNICATIONS CDPQ, INC.

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: 1981 McGill College Avenue
                                             Suite 725
                                             Montreal, Quebec
                                             H3A 3C7
                                             Facsimile: (514) 847-5980

                                    TD CAPITAL GROUP LIMITED

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                        Address: 55 King Street West
                                                 TD Bank Tower
                                                 TD Centre
                                                 Toronto, Ontario
                                                 M5K 1A2
                                                 Facsimile: (416)

<PAGE>

                                    ONTARIO MUNICIPAL EMPLOYEES
                                    RETIREMENT BOARD

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: One University Avenue, Suite 1100
                                             Toronto, Ontario
                                             M5J2PI
                                             Facsimile: (416) 369-0675

                                    NAUTILUS EQUITY INVESTORS LLC

                                    By: ___________________________________

                                    By: ___________________________________

                                    Address: Eleven Madison Avenue
                                             New York, New York 10010-3622

                                    IHI HYDRO, INC.

                                    By: ___________________________________
                                    Name: _________________________________
                                    Title: ________________________________

                                    Address: The Toronto Dominion Center
                                             55 King Street West at Bay Street
                                             TD Bank Tower, 8th Floor
                                             Toronto, Ontario  M5K1A2

<PAGE>

                                                                     (Exhibit A)

                                  STOCKHOLDERS

<TABLE>
<CAPTION>

  Beneficially                     Name of Beneficial                         Total Number of Shares
 Title of Class                           Owner                                  Beneficially Owned

<S>                               <C>                                         <C>

Common / Class B                  Boston Ventures Limited Partnership V           2,941,176 / 199
                                  One Federal Street,
                                  23rd Floor
                                  Boston, MA 02110-2003

Common / Class B                  TD Capital Group Limited                        1,283,254 / 87
                                  55 King Street
                                  Toronto Dominion Bank
                                  Tower, 8th Floor P.O. Box 1
                                  Toronto Dominion Centre
                                  Toronto, Ontario M5K
                                  1A2 Canada

Common / Class B                  Kelso Investment Associates VI, L.P.            2,500,000 / 169
                                  320 Park Avenue, 24th Floor
                                  New York, NY 10022

Common / Class B                  KEP VI, L.L.C.                                   441,176 / 30
                                  320 Park Avenue
                                  24th Floor
                                  New York, NY  10022

Common / Class B                  Providence Equity Partners III, L.P.            1,508,378 / 99
                                  Fleet Center, 9th Floor
                                  50 Kennedy Plaza
                                  Providence, RI 02903

Common / Class B                  Providence Equity Operating Partners              11,230 / 0
                                  III L.P.
                                  Fleet Center, 9th Floor
                                  50 Kennedy Plaza
                                  Providence, RI  02903

Common / Class B                  Capital Communications                          1,470,588 / 100
                                  CDPQ, Inc.
                                  1981 McGill College Avenue
                                  Montreal, Quebec H3A
                                  3C7 Canada

                                      A-1

<PAGE>

<S>                               <C>                                         <C>

Common / Class B                  Spectrum Equity Investors III, L.P.             1,458,824 / 99
                                  One International Place, 29th Floor
                                  Boston, MA 02110

Common / Class B                  Spectrum Entrepreneurs' Fund, L.P.                45,588 / 0
                                  One International Place
                                  29th Floor
                                  Boston, MA  02110

Common / Class B                  Spectrum III Investment                           15,196 / 0
                                  Managers' Fund, L.P.
                                  One International Place
                                  29th Floor
                                  Boston, MA  02110

Common / Class B                  Sandler Capital Partners IV, L.P.                521,176 / 35
                                  767 5th Avenue
                                  45th Floor
                                  New York, NY  10153

Common / Class B                  Sandler Capital Partners IV FTE, L.P.            214,118 / 14
                                  767 5th Avenue
                                  45th Floor
                                  New York, NY  10153

Common / Class B                  Ontario Municipal Employees                      558,824 / 38
                                  Retirement Board
                                  One University Avenue
                                  Suite 110
                                  Toronto, Ontario
                                  M5J2P1

Common / Class B                  Nautilus Equity Investors, LLC                   294,118 / 20
                                  Eleven Madison Avenue
                                  New York, NY  10010-3622

Common / Class B                  IHI Hydro, Inc.                                 1,635,286 / 110
                                  The Toronto Dominion Centre
                                  55 King Street W at Bay Street
                                  TD Bank Tower
                                  8th Floor
                                  Toronto, Ontario  M5K1A2

</TABLE>

                                      A-2

<PAGE>

                                                                     (Exhibit B)

                                  FORM OF PROXY

     The undersigned, for consideration received, hereby appoints ? or ? and
each of them my proxies, with power of substitution, to vote all (i) common
shares, par value $1.50 per share, of GlobeNet Communications Group Limited, a
Bermuda company (the "Company") and (ii) Class B restricted voting shares, par
value $1.50 per share, of the Company, owned by the undersigned at the Special
Meeting of Shareholders of the Company to be held [insert date, time and place]
and at any adjournment thereof FOR approval and adoption of the Agreement and
Plan of Arrangement, dated as of March 10, 2000, by and among the Company and
Worldwide Fiber Inc., a Canadian corporation ("WFI"), providing for the exchange
of shares (the "Arrangement") of the Company and WFI, and the Arrangement, and
AGAINST any action or proposal that would compete with or could serve to
materially interfere with, delay, discourage, adversely affect or inhibit the
timely consummation of the Arrangement. This proxy is coupled with an interest
and is irrevocable until such time as the Voting Agreement, dated as March 10,
2000, among certain shareholders of the Company, including the undersigned, and
WFI terminates in accordance with its terms.

                                       Dated ___________________, 2000

                                       _________________________________
                                          (Signature of Shareholder)

                                      B-1<PAGE>

                                                                    Exhibit 4.10

                                 TRUST AGREEMENT

         THIS AGREEMENT made as of the ____ day of ____________, 2000.

AMONG:

                  WORLDWIDE FIBER HOLDINGS LTD., of --

                  GREGORY B. MAFFEI, of --

                  MADISON SQUARE INC., of --

                  LARRY R. OLSEN, of --

                  (herein called the "Shareholders")

                                      -and-

                  WORLDWIDE FIBER INC., of 1500 - 1066 West Hastings Street,
                    Vancouver,  British Columbia, V6E 3X1

                  (herein called the "Company")

                                     -and -

                  -- TRUST COMPANY, of --

                  (herein called the "Trustee")

     WHEREAS there are -- Class C Multiple Voting Shares of the Company (the
"Multiple Voting Shares") issued and outstanding, all of which are owned by the
Shareholders;

     AND WHEREAS the Shareholders and the Company are desirous of entering into
this Agreement to secure the listing of the Class A Non-Voting Shares of the
Company (the "Non-Voting Shares") on The Toronto Stock Exchange and to derive
the benefits of such listing, and for the purpose of ensuring that the holders
from time to time of the Non-Voting Shares will not be deprived of any rights
under applicable take-over bid legislation to which they would have been
entitled in the event of a take-over bid if the Multiple Voting Shares and the
Non-Voting Shares were of a single class of shares, the Shareholders have agreed
that an aggregate of -- Multiple Voting Shares (the "Subject Multiple Voting
shares") as set out in Schedule A attached hereto, representing 80% of the
issued and outstanding Multiple Voting shares, will be subject to the terms of
this Agreement;

     AND WHEREAS the Shareholders and the Company desire to constitute the
Trustee as a trustee for the holders from time to time of the Non-Voting Shares
to the intent that

<PAGE>
                                      -2-

such holders, through the Trustee, will receive the benefits of the covenants of
the Shareholders and the Company contained in this Agreement;

     NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the
premises and agreements herein contained and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto
agree as follows:

1.   Subject to Section 2, the Shareholders shall not sell any Subject Multiple
Voting Shares, directly or indirectly, pursuant to a take-over bid, as defined
by applicable securities legislation, under circumstances in which securities
legislation would have required the same offer or a follow-up offer to be made
to holders of Non-Voting Shares if the sale had been of Non-Voting Shares rather
than Multiple Voting Shares, but otherwise on the same terms. For this purpose,
it shall be assumed that the offer that would have resulted in such sale of
Non-Voting Shares would have constituted a take-over bid under applicable
securities legislation, regardless of whether this actually would have been the
cause.

2.   Section 1 shall not apply to prevent a sale of Subject Multiple Voting
Shares by a Shareholder pursuant to a take-over bid if:

     (a)  such sale is made pursuant to an offer to purchase Multiple Voting
          Shares made to all holders of Multiple Voting Shares, and an identical
          offer (in terms of price per share, percentage of outstanding shares
          to be taken up exclusive of shares owned immediately prior to the
          offer by the offeror, or associates or affiliates of the offeror, and
          in all other material respects) concurrently is made to purchase
          Non-Voting Shares, which identical offer has no condition attached
          other than the right not to take up and pay for shares tendered if no
          shares are purchased pursuant to the offer for Multiple Voting Shares;
          or

     (b)  there is a concurrent unconditional offer to purchase all of the
          Non-Voting Shares at a price per share at least as high as the highest
          price per share paid pursuant to the take-over bid for the Multiple
          Voting Shares, and for the purposes of this Section 2 the varying of
          any term of an offer shall be deemed to constitute the making of a new
          offer.

3.   If the conditions attaching to the shares of the Company include a
provision that would have the effect of changing the voting rights attaching to
shares of the Company under certain circumstances, through an automatic
conversion of shares of one class into shares of another class or otherwise, and
if there is an offer that would have been a take-over bid if not for the
existence of such provision, such offer shall be deemed to be a "take-over bid"
for the purposes of this Agreement.

4.   For greater certainty, any sale which would result in a direct or indirect
acquisition of Subject Multiple Voting Shares or Non-Voting Shares, or in a
direct or indirect acquisition of control or direction over such shares, be
construed to be a sale of such Subject Multiple Voting Shares or Non-Voting
Shares, as the case may be, for the purposes of Section 1.

<PAGE>
                                      -3-

5.   Each Shareholder shall use its best efforts to prevent any person or
company it controls from carrying out a sale (including an indirect sale)
described in Section 1 in respect of any Subject Multiple Voting Shares owned
from time to time by such Shareholder, regardless of whether such person or
company is a party to this Agreement, unless Subsection 2(a) or 2(b) applies in
respect of such sale.

6.   If a Shareholder, or any person or company it controls, carries out a sale
(including an indirect sale) described in Section 1 in respect of any Subject
Multiple Voting Shares owned from time to time by such Shareholder, and if
neither Subsection 2(a) or 2(b) applies in respect of such sale, the Shareholder
shall not at the time such sale becomes effective or thereafter do any of the
following with respect to any of the Subject Multiple Voting Shares so sold: (a)
dispose of them without the prior written consent of the Trustee; (b) convert
them into Non-Voting Shares without the prior written consent of the Trustee; or
(c) exercise any voting rights attaching to them except in accordance with the
written instructions of the Trustee, and the Shareholder shall comply with such
instructions. The Trustee may attach conditions to any consent the Trustee gives
in exercising its rights hereunder. The Trustee shall exercise such rights in a
manner that the Trustee considers to be: (i) in the best interests of the
holders of the Non-Voting Shares, other than the Shareholders and other holders
thereof who, in the opinion of the Trustee, participated directly or indirectly
in the transaction that triggered the operation of this Section 6; and (ii)
consistent with the intentions of the Shareholders and the Company in entering
into this Agreement as such intentions are set out in the preamble to this
Agreement.

7.   No Shareholder shall dispose of any Subject Multiple Voting Shares,
directly or indirectly, unless the disposition is conditional upon the person or
company acquiring the shares entering into an agreement in the form of this
Agreement and under which such person or company shall have the same rights and
obligations as the Shareholder hereunder. If the conditions attaching to the
shares of the Company include a right of conversion of Multiple Voting Shares
into Non-Voting Shares, neither the exercise of such right nor the subsequent
sale of the Non-Voting shares resulting from the conversion shall constitute a
disposition of Subject Multiple Voting Shares for the purposes of this Section
7.

8.   If and whenever the Trustee has reasonable cause to believe that a
Shareholder or the Company may have breached, or may intend to breach, any
provision of this Agreement, the Trustee shall make reasonable enquiry to
determine whether such a breach has occurred or is intended, and if the Trustee
thereupon determines that such is the case the Trustee shall forthwith deliver
to the Company a certificate stating that the Trustee has made such
determination. The Trustee shall thereupon be entitled to take and, subject to
Section 10, shall take such action as the Trustee considers necessary to enforce
its rights under this Agreement on behalf of the holders of the Non-Voting
Shares.

9.   Subject to Section 10, if and whenever holders of not less than 10% of the
then outstanding Non-Voting Shares determine that a Shareholder or the Company
has breached, or intends to breach, any provision of this Agreement, such
holders may require the Trustee to take action in connection therewith by
delivering to the Trustee a requisition in writing signed in one or more
counterparts by such holders and setting forth the action to be taken by the
Trustee, and upon receipt by the Trustee of such a requisition the Trustee shall
forthwith take such action as is

<PAGE>
                                      -4-

specified in the requisition and any other action that the Trustee considers
necessary to enforce its rights under this Agreement on behalf of the holders of
the Non-Voting Shares.

10.  The obligation of the Trustee to take any action on behalf of the holders
of the Non-Voting Shares shall be conditional upon the Trustee receiving from
the Company or from one or more holders of Non-Voting Shares such funds and
indemnity as the Trustee may reasonably require in respect of any costs or
expenses which it my incur in connection with any such action. The Company shall
provide such funds and indemnity to the Trustee if the Trustee has delivered to
the Company the certificate referred to in Section 8.

11.  No holder of Non-Voting Shares shall have the right, other than through the
Trustee, to institute any action or proceeding or to exercise any other remedy
for the purpose of enforcing any rights arising from this Agreement unless
holders of Non-Voting Shares shall have requested in the manner specified in
Section 9 that the Trustee act and shall have provided reasonable funds and
indemnity to the Trustee and the Trustee shall have failed to so act within 30
days after the provision of such funds and indemnity. In such case any holder of
Non-Voting Shares acting on behalf of such holder and all other holders of
Non-Voting Shares shall be entitled to take proceedings in any court of
competent jurisdiction such as the Trustee might have taken.

12.  The Company shall do all things reasonably necessary to facilitate the due
performance of this Agreement, including the fulfilment by the Shareholders of
their obligations hereunder.

13.  The Trustee may resign and be discharged from all further duties and
liabilities hereunder, subject to this Section 13, after giving three months'
written notice to the Company, or such shorter notice as the Company may accept
as sufficient. In the event that the office of trustee becomes vacant, the
Company shall forthwith appoint a new trustee which shall be a corporation
authorized to carry on the business of a trust company in British Columbia;
failing such appointment, the Shareholders, the Trustee or any holder of
Non-Voting Shares may apply to a judge of the Supreme Court of British Columbia
for the appointment of a new trustee. Upon any new appointment the new trustee
shall be vested with the same powers, rights, duties and responsibilities as if
it had been originally named herein as the trustee, but there shall be
immediately executed, at the expense of the Company, all such instruments as may
be, in the opinion of counsel to the Company, necessary or desirable to assure
such vesting. Any resignation of the Trustee shall not become effective until
the successor party shall have executed an appropriate instrument accepting the
appointment as the new trustee.

14.  The Shareholders and the Company agree to indemnify and save harmless the
Trustee from and against all claims made against it by reason of the Trustee's
compliance in good faith with the terms hereof.

15.  The Company shall pay the reasonable fees and expenses of the Trustee in
connection with the performance of the Trustee's obligations hereunder,
including the reasonable fees and disbursements of counsel, but this Section 15
shall not require the Company to pay any fees or expenses in connection with any
action taken by the Trustee pursuant to Section 9

<PAGE>
                                      -5-

if the Trustee has not delivered to the Company the certificate referred to in
Section 8 in respect of such action.

16.  The Trustee hereby accepts the appointment as trustee for the holders from
time to time of the Non-Voting Shares upon the terms and conditions herein set
forth.

17.  This Agreement shall not be amended, and no provision thereof shall be
waived, except with the approval of at least two-thirds of the votes cast by the
holders of Non-Voting Shares present or represented at a meeting duly called for
the purpose of considering such amendment or waiver.

18.  Notwithstanding Section 17, the Company and the Trustee may, without
     reference to the holders of the Non-Voting Shares, amend this Agreement if
     such amendment is, in the opinion of the Trustee:

     (a)  beneficial to the holders of the Non-Voting Shares;

     (b)  for the purpose of complying with the legislation, rules or policies
          of any applicable regulatory authority; or

     (c)  necessary or desirable to overcome administrative difficulties arising
          in connection with administration of this Agreement;

and such amendment does not, in the opinion of the Trustee, adversely affect the
holders of the Non-Voting Shares.

19. Any notice or other communication required or contemplated under this
Agreement shall be sufficiently given if it is in writing and delivered,
telecopied or sent by prepaid registered mail to the following:

     if to the Shareholders:

          at the address indicated on the first page hereof

          if to the Company:

                  Worldwide Fiber Inc.
                  1500 - 1066 West Hastings Street
                  Vancouver, British Columbia
                  V6E 3X1
                  Facsimile No.:  (604) 681-6822

                  Attention:  --

         if to the Trustee:

                  -- Trust Company
                  --

<PAGE>
                                      -6-

                  --
                  Facsimile No.:  --

                  Attention:  Corporate Trust Department

Any notice which is delivered or telecopied shall be deemed to have been given
and received on the business day next following the date of delivery or
telecopying, as the case may be. Any notice mailed as aforesaid shall be deemed
to have been given and received on the third business day following the date it
is posted, provided that if between the time of mailing and actual receipt of
the notice there shall be a mail strike, slow-down or other labour dispute which
might affect delivery of the notice by mail, then the notice shall be effective
when actually delivered. A person may change its address for service by
providing notice of such in accordance with the terms of this Section 19.

20.  This Agreement shall be governed by and construed in accordance with the
laws of the Province of British Columbia.

21.  Each of the Parties hereto agrees to execute such further and other deeds,
documents and assurances and do such further and other acts as may be reasonably
necessary to carry out and implement the true intent and meaning of this
Agreement fully and effectually.

22.  This agreement shall enure to the benefit of and be binding upon the
parties hereto and their respective heirs, legal representatives, successors and
assigns, as applicable.

WORLDWIDE FIBER HOLDINGS LTD.

Per:
     ----------------------------------
      Authorized Signatory

SIGNED, SIGNED AND DELIVERED
by GREGORY B. MAFFEI in the           )
presence of:                          )
                                      )
                                      )
------------------------------------- )
Name                                  )        --------------------------------
                                      )        GREGORY B. MAFFEI
------------------------------------- )
Address                               )
                                      )
-------------------------------------
                                      )
------------------------------------- )
Occupation                            )

<PAGE>
                                      -7-

MADISON SQUARE INC.

Per:
      Authorized Signatory

SIGNED, SIGNED AND DELIVERED
by LARRY R. OLSEN in the              )
presence of:                          )
                                      )
                                      )
------------------------------------- )
Name                                  )        --------------------------------
                                      )        LARRY R. OLSEN
------------------------------------- )
Address                               )
                                      )
-------------------------------------
                                      )
------------------------------------- )
Occupation                            )

WORLDWIDE FIBER INC.

Per:
     ----------------------------------
      Authorized Signatory

THE CORPORATE SEAL of -- TRUST
COMPANY was hereunto affixed in the   )
presence of:                          )

                                      )
                                      )
Per:                                  )                   C/S
    --------------------------------- )
        Authorized Signatory          )
                                      )

<PAGE>

                                   SCHEDULE A

              SHAREHOLDER                     NO. OF SUBJECT MULTIPLE
                                                   VOTING SHARES

        Worldwide Fiber Holdings Ltd.                32,400,000

        Gregory B. Maffei                             4,920,000

        Madison Square Inc.                           1,800,000

        Larry R. Olsen                                1,800,000

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