Document:

Sixth Amendment to Master Wholesale Pricing and Services Coordinating Agreement

 EXHIBIT 10.1 
  
 SIXTH AMENDMENT TO 
 MASTER WHOLESALE PRICING AND SERVICES COORDINATING AGREEMENT 
  
 THIS SIXTH AMENDMENT TO THE MASTER WHOLESALE PRICING AND SERVICES COORDINATING AGREEMENT (this “Sixth Amendment”) dated March 3, 2005, with effect as to certain agreements contained
herein as of February 1st 2005 (the “Effective Date”) is made 
  

			
	 BETWEEN:
	  	TELEGLOBE CANADA ULC, an amalgamated unlimited liability company amalgamated under the laws of the Province of Nova Scotia, having an office at 1000 rue de la Gauchetiere, Montreal,
Quebec, Canada (“Teleglobe”);
		
	 AND:
	  	BELL CANADA, a Canadian corporation incorporated under the laws of Canada having an office at 483 Bay Street, Floor 6N, Toronto, Ontario, Canada (“Bell
Canada”);

  
 RECITALS: 
  
 WHEREAS Teleglobe and Bell Canada have entered into a Master
Wholesale Pricing and Services Coordinating Agreement (the “Master Agreement”) dated January 1st
2001, as amended effective April 1st, 2003 (the “First Amendment”); as amended effective January
1st, 2004 (the “Second Amendment”); as amended effective January 1st, 2004 (the “Third Amendment”); as amended effective January 1st, 2004 (the “Fourth Amendment”); and as amended effective January 1st, 2004 (the “Fifth Amendment”) (collectively, the “Agreement”); and 
  
 WHEREAS IDDD Outbound Services, Canadian Switched Minute Terminations
and US Switched Minute Terminations are to be provided between the Parties under the terms of the Master Agreement as amended by the First Amendment, by the Second Amendment, by the Third Amendment, by the Fourth Amendment and by the Fifth Amendment
and provided for herein; and 
  
 WHEREAS Teleglobe and Bell
Canada wish to modify certain terms and conditions as the same relate to the rates that Teleglobe are required to pay for certain US Switched Minute Terminations as set out in the Second Amendment as amended by the Third Amendment and by the Fifth
Amendment; 
  
 NOW THEREFORE, THIS SIXTH AMENDMENT WITNESSETH
that in consideration of the covenants and agreements hereinafter contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the Parties hereto, the Parties hereto covenant
and agree as follows: 
  
 1. DEFINITIONS 
  
 Terms having initial capital letters and capitalized terms used, but not
otherwise defined in this Sixth Amendment, including its recitals, shall have the respective meanings set out in the Master Agreement or the First Amendment or the Second Amendment or the Third Amendment or the Fourth Amendment or the Fifth
Amendment. Certain terms having initial capital letters and capitalized terms used in this Sixth Amendment are defined in the context in which they appear and shall have the respective meanings there indicated. 
  
 In this Sixth Amendment, including its recitals, unless otherwise defined or
unless the context otherwise requires, the following terms shall have the following meanings: 
  
 “Base Rate” has the meaning set forth in Section 2.3.1.1 hereof. 

 “Parties” means Bell Canada and Teleglobe. 
  
 “Party” means either Bell Canada or Teleglobe as the context
requires. 
  
 “Teleglobe Volume Commitment” has
the meaning set forth in Section 2.3.1.1 hereof. 
  
 “Teleglobe Incremental Penalty” has the meaning set forth in Section 2.3.1.1 hereof. 
  
 “Teleglobe Shortfall Surcharge” has the meaning set forth in Section 2.3.1.1 hereof. 
  
 “Term” means commencing on February 1st, 2005 and terminating on July 31st, 2005. 
  
 “Valid U.S. Traffic” shall consist only of direct dialed (1+) calls terminating in U.S. NPAs (excluding U.S. Virgin Islands, Puerto Rico, Guam, Hawaii and Alaska). For greater certainty, (i) calls to NXXs 555 and 976, (ii)
calls to NPAs 900, 800, 877, 866 and other toll-free numbers, (iii) ISDN traffic, and (iv) billed calling card calls, reverse billed collect calls, reverse billed calls, billed to third party calls and operator handled calls are not Valid U.S.
Traffic, and any such calls shall be routed to vacant numbers and shall receive an overflow (fast busy) tone. 
  
 “US Switched Minute Terminations” has the meaning set forth in Section 2.3.1.1 hereof. 
  
 2. SERVICES 
  
 2.3.1 Switched Minute Terminations in the US. During the Term the Parties agree as follows:

  
 2.3.1.1 Article 2.3.1.3 of the Fifth Amendment is
hereby deleted in its entirety and replaced with the following provisions: 
  
 “During the Term, Teleglobe agrees to send Bell Canada the volume of Conversation Minutes set out in Section 1 of Appendix 3 attached hereto as the Teleglobe Volume Commitment of Valid U.S traffic
(“US Switched Minute Terminations”). For greater certainty, the Parties hereby agree that the Teleglobe Volume Commitment shall begin on February 1st, 2005, and terminate on July 31st, 2005 (the “Term”). In consideration for the foregoing, Bell Canada shall apply a per minute rate set out in Section 1 of Appendix 3 attached hereto as the Base Rate to each Conversation Minute in the
Teleglobe Volume Commitment. 
  
 In the event
that Teleglobe exceeds the Teleglobe Volume Commitment (the “Teleglobe Incremental Volume”), Teleglobe shall pay to Bell Canada the rate set out in Section 1 of Appendix 3 attached hereto as the Incremental Rate,
against the total of Conversation Minutes equal to the Teleglobe Incremental Volume (the “Teleglobe Incremental Penalty”). 
  
 In the event that Teleglobe fails to meet the Teleglobe Volume Commitment (the “Teleglobe Shortfall”), Teleglobe shall
have up to one (1) month, beginning on the day following the end of the Term, to make up the Teleglobe Shortfall (the “Catch-up Period”). In the event that the Teleglobe Shortfall exists after the Catch-up Period, Bell Canada shall
apply, as liquidated damages and not as a penalty, a per minute rate set out in Section 1 of Appendix 3 attached hereto as the Shortfall Charge to each Conversation Minute equal to the Volume Commitment less the actual Conversation Minutes of
US Switched Minute Terminations terminated by Bell Canada during the Term of this Sixth Amendment (the “Teleglobe Shortfall Surcharge”). 
  
 All US Switched Minute Terminations traffic sent by Teleglobe to Bell Canada shall be routed by Bell Canada at Bilateral Quality. In
addition to the foregoing, Bell Canada shall use reasonable efforts to provide Calling Line Identification (“CLI”) for such traffic, however, Bell Canada shall not guarantee that such features shall apply to all Valid U.S. Traffic”.

  
 2.3.1.2 Teleglobe agrees that no more than 30% of the
total US Switched Minute Terminations traffic delivered during any given calendar month (“High Cost Serving Areas Threshold”) shall be for termination to High Cost Serving Areas. Bell Canada shall, in addition to the Base Rate,
Incremental Rate or the Shortfall 

 
Charge, whichever then applicable, levy a surcharge set out in Section 1 of Appendix 3 attached hereto as the High Cost Serving Areas Threshold
Surcharge per Conversation Minute for each Conversation Minute terminated in the High Cost Serving Areas which is above the High Cost Serving Areas Threshold. For greater certainty, the Parties agree that all Valid U.S. Traffic above the High
Cost Serving Areas Threshold shall apply towards the Teleglobe Volume Commitment. 
  
 3. GENERAL 
  
 3.1.1 Appendix 3 of the Fifth
Amendment is hereby deleted in its entirety and replaced with the Amended and Restated Appendix 3 attached hereto. 
  
 3.1.2 Except as amended hereby, all of the terms and conditions of the Agreement are hereby ratified and confirmed, and shall remain in full force and
effect. 
  
 IN WITNESS WHEREOF, each of the Parties has
executed and delivered this Sixth Amendment. 
  

							
	TELEGLOBE CANADA ULC	  	BELL CANADA
				
	 Per:
	 	 /s/    DENIS
ARCHAMBAULT        

	  	 Per:
	  	 /s/    DANIEL RATTE        

	Name:	 	Denis Archambault	  	Name:	  	Daniel Ratte
	Title:	 	Vice-President, GTM	  	Title:	  	Director, Carrier RelationsAnnual Incentive Plan for Executives

 EXHIBIT 10.2 
  
 TELEGLOBE INTERNATIONAL HOLDINGS LTD 
 ANNUAL INCENTIVE PLAN FOR EXECUTIVES 
  
 1. Purpose. 
  
 The
principal purpose of the Teleglobe International Holdings Ltd Annual Incentive Plan (the “Plan”) for Executives is to advance the interests of Teleglobe International Holdings Ltd (the “Company” or “Teleglobe”) and its
subsidiaries by providing for annual incentive compensation for executives of the Company and its subsidiaries who are designated as participants in the Plan by the Compensation Committee of the Board of Directors from time to time in the manner
hereinafter provided, so as to attract and retain such individuals, make their compensation competitive and provide them with an incentive to strive to achieve the Company’s financial and other business objectives. 
  
 The program is designed so that each Participant in the Plan shall be
eligible to receive a Target Incentive Award, if any, for the Plan Period as may be payable pursuant to the performance criteria approved by the Compensation Committee of Teleglobe in consultation with the Chief Executive Officer (other than any
decision with the respect to the CEO’s Target Incentive Award). 
  
 The Plan measures performance using the actual achievement of the defined corporate performance objectives. 
  
 The Plan defines the conditions and the method of paying annual incentive compensation to the Company’s Executives of the business worldwide that do
not participate in another plan. 
  
 2.
Definitions. 
  
 As used in the Plan and any Exhibits to
the Plan, the following terms have the meaning stated below: 
  
 “Affiliate,” means a company that directly or indirectly controls, is controlled or is under common control with Teleglobe, and has adopted the Plan with the approval of Teleglobe. A company “controls” another company if
it holds or is beneficially entitled to hold, directly or indirectly, other than by way of security interest only, more than 50% of the voting rights, income or capital. 
  
 “Board of Directors” or “Board” means the Board of Directors of Teleglobe. 
  
 “CEO” means the Chief Executive Officer of Teleglobe. 

 
 “Company” means Teleglobe and any Affiliate. 
  
 “Compensation Committee” or “Committee” means the
committee of the Board appointed to discharge the Board’s responsibilities relating to the directors, executive officers, and employees compensation and employment benefit plans, policies and programs of the Company. 
  
 “Disability” means “totally disabled” as defined in the
applicable Company’s long-term disability insurance plan, as from time to time in effect. 
  
 “Executive” means an individual who is actively employed by the Company on a full-time basis during the Plan Period as determined by the Compensation Committee from time to time. Executives who participate
in another Teleglobe plan and are not designated as participants in the Plan by the Compensation Committee will not be eligible to receive awards under this Plan. 
  
 “Executive Officer” means any Participant who has been designated by the Board of Directors as an executive
officer pursuant to Rule 3b-7 under the Securities and Exchange Act of 1934, as amended. 
  
 “Incentive Compensation Award” means the award to be paid to a Participant based on the Participant’s Target Incentive Award and the Company’s business achievement factors, as determined by the
Compensation Committee annually. 

 “Not Actively Employed” means the earlier of: 
  
 (a) The date on which the Company gives to the Employee
notice of termination (whether or not for cause); 
  
 (b) The date of termination of employment (whether or not for cause); or 
  
 (c) The date on which salary continuation or severance pay commences under any severance plan or policy of the Company. 
  
 “Participant” means any Executive who is eligible for a Target
Incentive Award and employed before November 1 of each year with payment of the Incentive Compensation Award, if any, made during the first quarter of the following year(excluding any executive who participates in a sales incentive compensation plan
sponsored by a Company or an Affiliate). The definition of “Participant” may be modified to include special provisions describe in an individual retention or employment agreement. 
  
 “Performance Goal(s)” shall mean the criteria and objectives, which
must be met during the Plan Period as a condition of the Participant’s receipt of payment with respect to a Target Incentive Award. 
  
 “Target Incentive Award” means the applicable amount set for each Participant in accordance with the applicable company’s compensation
structure; the payment of any such award shall be contingent upon the attainment of business Performance Goals with respect to the Plan Period. 
  
 “Teleglobe” means Teleglobe International Holdings Ltd. 
  

3. Target Incentive Awards. 
  
 Target Incentive Awards will be set for each Participant in accordance with the applicable Company’s compensation structure. 
  
 4. Performance Measurement and Award Determination.

  
 The Compensation Committee of the Board of Directors will
approve the business achievement factors for the Plan Period, the method of measuring performance and the corresponding payout formula for awards under the Plan. Performance will be measured as a percentage of the actual business achievement against
the financial target for the Plan Period as determined by the Compensation Committee from time to time. 
  
 The Incentive Compensation Award to be paid a Participant shall not exceed 200% of each Participant’s Target Incentive Award; provided that the
Incentive Compensation Award for the CEO shall not exceed 100% of his Target Incentive Award. 
  
 The CEO (with respect to Participants who are not Executive Officers) and the Compensation Committee (with respect to Executive Officers) may, in their respective sole discretion, (i) award or increase the amount of
Target Incentive Award payable to one or more Participants even though not earned in accordance with the Performance Goals established or (ii) decrease the amount of Target Incentive Award otherwise payable to one or more Participants even though
earned in accordance with the Performance Goals. 
  
 5. Death or Retirement. 
  
 If a
Participant’s employment terminates due to (i) death, (ii) retirement at the age of 55 or older with at least 10 years of service with the Company or an affiliate, (iii) eligible to receive Teleglobe retirement benefits (more than 30 years of
service), the Participant will be entitled to a prorated Incentive Compensation Award equal to what he or she would have been entitled to receive as a Participant up to the date of the Participant’s death or retirement. 

 6. Leaves of Absence and Disability. 
  
 If a Participant is on short or long term disability or a leave of absence
in excess of 60 working days during the relevant period, the period of absence over 60 days will not be included in the Incentive Compensation Award calculation and the Incentive Compensation Award paid will be prorated. The CEO and the Compensation
Committee may, in their respective sole discretion, modify the period. 
  
 7. Plan Provision  
  
 The
Company will establish a provision to accrue Incentive Compensation Awards to be paid at the end of the period. The provision will generally be sufficient to cover Incentive Compensation Awards at 100% of achievement. The CEO will periodically
review Company performance with the Chief Financial Officer and make adjustments to such provision as necessary to ensure the adequacy of the provision to cover the accrual for the Incentive Compensation Awards. 
  
 8. Participant’s Interest. 
  
 A Participant’s interest in any Target Incentive Award hereunder shall
at all times be reflected on the Company’s books as a general unsecured and unfunded obligation of the Company subject to the terms and conditions of the Plan. The Plan shall not give any person any right or security interest in any asset of
the Company or any fund in which any deferred payment is deemed invested. The Company, the Committee and the Board shall not be responsible for the adequacy of the general assets of the Company to discharge the payment of its obligations hereunder.
In addition, the Company shall not be required to reserve or set aside funds therefore. 
  
 9. Participant’s Rights. 
  
 Nothing contained in the Plan shall confer upon any Participant any right to be continued in the employ of the Company or any of its Affiliates or
interfere in any way with the right of the Company or any of its Affiliates to terminate a Participant’s employment at any time, unless superceded by the laws of jurisdiction where the employee resides. 
  
 10. Amendment/Termination. 
  
 The Compensation Committee may in its sole discretion terminate or amend the
Plan from time to time without liability to pay incentive compensation under the Plan, unless otherwise specified in the employment contract of an Executive. 
  
 11. Non-Alienation of Benefits/Benefits Designation. 
  
 All rights and benefits under the Plan are personal to the Participant and neither the Plan nor any right or interest of a
Participant or any other person arising under the Plan is subject to voluntary or involuntary alienation, sale, transfer, or assignment. 
  
 12. Plan Administration. 
  
 The Plan will be administered by the Compensation Committee or, if the name of the Compensation Committee is changed, the Plan will be administered by
such successor committee. For all Executives other than Executive Officers, the Compensation Committee may delegate all or a portion of its responsibilities within its sole discretion by resolution to the CEO. Any reference in this Plan to the
Committee or its authority will be deemed to include the CEO (other than with respect to Executive Officers). From time to time, the CEO may delegate the administration of the Plan to one or more executives of the Company. The interpretation and
construction of the provisions of the Plan by the Compensation Committee and/or the CEO will be final and binding. 
  
 The Committee will have the right to interpret the terms and provisions of the Plan and to determine any and all questions arising under the Plan,
including, without limitation, the right to remedy possible ambiguities, 

 
inconsistencies, or omissions by a general rule or particular decision. The Committee will have authority to adopt, amend and rescind rules consistent with
the Plan, to make exceptions in particular cases to the rules of eligibility for participation in the Plan (except with respect to Executive Officers), and to delegate authority for approval of participation of any Executive except for Executive
Officers. The Committee will take all necessary action to establish annual Performance Benchmarks and approve the timing of payments, as necessary. 
  
 Any determination by the Committee of the financial targets including but not limited to EBIDTA, year end cash balance, any other performance measure, and
the level and entitlement to Incentive Compensation Awards, and any interpretation, rule, or decision adopted by the Committee under the Plan or in carrying out or administering the Plan, will be final and binding for all purposes and upon all
interested persons, their heirs, and personal representatives. The Committee may rely conclusively on determinations made by the Company and its auditors to determine EBITDA, year end cash balance, any other performance measure and related
information for administration of the Plan, whether such information is determined by the Company, auditors or a third-party vendor engaged specifically to provide such information to the Company. This subsection is not intended to limit the
Committee’s power, to the extent it deems proper in its discretion, to take any action permitted under the Plan. 
  
 All expenses incurred in the administration of the Plan will be borne by the Company. 
  
 The Plan and decisions made pursuant to the Plan will be construed under and governed by the laws of the Commonwealth of
Virginia for employees located in the United States, the laws of the Province of residence for employees located in Canada and the laws of the country of residence for employees outside the U.S. and Canada. 
  
 13. Distribution of Incentive Compensation Awards.

  
 The Company will pay to each Participant the amount of
Incentive Compensation Award earned by the Participant, after deducting from the Participant’s Incentive Compensation Award all required federal, state, provincial, local or other withholding taxes, amounts required to be withheld by law or
amounts owed by the Participant to the applicable Company. Being an active employee of the Company or an Affiliate on the day the bonus is paid is a condition precedent for each Participant to receive an Incentive Compensation Award unless otherwise
set forth in an Executive’s employment agreement. Any Participants whose individual performance is unsatisfactory will not be paid an Incentive Compensation Award even if the financial targets are achieved by the Company. Incentive Compensation
Awards will be paid prior to the end of the first quarter of each year. 
  
 14. Spendthrift Clause. 
  
 Except as may be otherwise required by law, no award or payment under this Plan will be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, whether voluntary or involuntary, and no
attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the same will be valid, nor will any such benefit or payment be in any way liable for or subject to debts, contracts, liabilities, engagements or torts of any
person entitled to such benefit or payment, or subject to attachment, garnishment, levy, executive or other legal or equitable process.

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