Document:

EXHIBIT 10.2

                                PLEDGE AGREEMENT

     THIS PLEDGE  AGREEMENT  ("Agreement")  dated as of June 30, 2000, is by and
between SAVVIS  COMMUNICATIONS  CORPORATION,  a Delaware corporation  ("Debtor")
whose addresses are 12007 Sunrise Valley Drive, Reston, Virginia 20191 and 12851
Worldgate Drive, Herndon,  Virginia 20170, and whose Tax I.D. No. is 43-1809960,
and  NORTEL  NETWORKS  INC.,  a  Delaware  corporation   ("Secured  Party"),  as
Administrative  Agent for the "Lenders",  as that term is defined  below,  whose
address is 2221 Lakeside Blvd., Richardson, Texas 75082.

                                R E C I T A L S:

     A. Savvis Communications  Corporation,  a Missouri corporation ("Borrower")
entered  into  that  certain  Credit  Agreement  dated as of June 30,  2000 with
Debtor,   the  lenders  party  thereto   (each   individually   a  "Lender"  and
collectively,  the  "Lenders")  and Secured  Party (such  Agreement as it may be
amended, renewed, extended, restated, replaced,  substituted,  supplemented,  or
otherwise  modified  from time to time is  referred  to  herein  as the  "Credit
Agreement").

     B. Debtor has  directly and  indirectly  benefitted  and will  directly and
indirectly benefit from the Loans evidenced and governed by the Credit Agreement
and the other transactions evidenced by and contemplated in the Loan Documents.

     C. The execution and delivery of this Agreement is required by the terms of
the Credit Agreement.

     NOW,  THEREFORE,  in  consideration  of the premises and for other good and
valuable  consideration,  the  adequacy,  receipt and  sufficiency  of which are
hereby acknowledged,  and in order to induce the Lenders to make the Loans under
the Credit Agreement, the parties hereto hereby agree as follows:

                                    ARTICLE 1

                                   Definitions

     Section 1.1  Definitions.  As used in this  Agreement,  the following terms
have the following meanings:

     "Capital Stock" means  corporate stock and any and all securities,  shares,
partnership interests,  limited partnership interests, limited liability company
interests,  membership interests,  equity interests,  participations,  rights or
other  equivalents  (however  designated)  of  corporate  stock  or  any  of the
foregoing issued by any entity (whether a corporation,  a partnership, a limited
liability  company  or  another  entity)  and  includes,   without   limitation,
securities  convertible  into  Capital  Stock and  rights or  options to acquire
Capital Stock.

<PAGE>

     "Collateral" has the meaning specified in Section 2.1.

     "Foreign  Subsidiary" means each Subsidiary of Debtor that is not domiciled
in the United States and is identified in Section 8.17 of the Credit  Agreement,
including,  without limitation, the Foreign Subsidiaries set forth on Schedule 2
attached hereto.

     "Governmental  Authority"  means  any  nation  or  government,  any  state,
provincial or political subdivision thereof and any entity exercising executive,
legislative,  judicial,  regulatory or administrative functions of or pertaining
to government.

     "Instrument"  means any "instrument," as such term is defined in Article or
Chapter 9 of the UCC,  now owned or  hereafter  acquired by Debtor,  and, in any
event, shall include all promissory notes,  drafts,  bills of exchange and trade
acceptances of Debtor, whether now owned or hereafter acquired.

     "Obligations"  means  the  "Obligations",  as such term is  defined  in the
Credit  Agreement,  and the obligations,  indebtedness and liabilities of Debtor
under this Agreement and any other Loan Document to which Debtor may be a party.

     "Person" means any individual,  corporation,  trust, association,  company,
partnership,  joint venture,  limited  liability  company,  joint stock company,
Governmental Authority or other entity.

     "Pledged Shares" means all of the Capital Stock of each Foreign  Subsidiary
owned  directly or  indirectly  by Debtor,  including  without  limitation,  the
Capital Stock identified on Schedule 2 attached  hereto,  or on Schedule 1 to an
Amendment;  provided,  however,  in no event shall the Pledged Shares constitute
more than 66% of the Capital Stock of any Foreign Subsidiary.

     "Proceeds"  means any  "proceeds,"  as such term is  defined  in Article or
Chapter 9 of the UCC and, in any event,  shall  include,  but not be limited to,
(a) any and all  proceeds  of any  insurance,  indemnity,  warranty  or guaranty
payable to Debtor from time to time with respect to any of the  Collateral,  (b)
any and all payments (in any form  whatsoever) made or due and payable to Debtor
from  time  to  time  in   connection   with  any   requisition,   confiscation,
condemnation,  seizure or forfeiture of all or any part of the Collateral by any
Governmental  Authority (or any Person  acting,  or purporting to act, for or on
behalf of any  Governmental  Authority),  and (c) any and all other amounts from
time to time paid or payable under or in connection with any of the Collateral.

     "UCC"  means the Uniform  Commercial  Code as in effect in the State of New
York;  provided,  that if,  by  applicable  law,  the  perfection  or  effect of
perfection or  non-perfection  of the security interest created hereunder in any
Collateral is governed by the Uniform  Commercial  Code as in effect on or after
the date hereof in any other jurisdiction, "UCC"

<PAGE>

means the Uniform  Commercial Code as in effect in such other  jurisdiction  for
purposes of the provisions  hereof  relating to such perfection or the effect of
perfection or non-perfection.

     Section  1.2 Other  Definitional  Provisions.  Terms used  herein  that are
defined in the Credit Agreement and are not otherwise  defined herein shall have
the  meanings  therefor  specified  in  the  Credit  Agreement.   References  to
"Sections,"  "subsections,"  "Exhibits"  and  "Schedules"  shall be to Sections,
subsections,  Exhibits and Schedules,  respectively,  of this  Agreement  unless
otherwise specifically provided. All definitions contained in this Agreement are
equally  applicable to the singular and plural forms of the terms  defined.  All
references to statutes and regulations  shall include any amendments of the same
and any successor statutes and regulations. References to particular sections of
the UCC  should  be read to  refer  also to  parallel  sections  of the  Uniform
Commercial Code as enacted in each state or other jurisdiction where any portion
of the Collateral is or may be located.

                                    ARTICLE 2

                                Security Interest

     Section  2.1  Security  Interest.  As  collateral  security  for the prompt
payment and performance in full when due of the  Obligations  (whether at stated
maturity,  by acceleration or otherwise),  Debtor hereby pledges and assigns (as
collateral) to Secured Party,  and grants to Secured Party a continuing  Lien on
and security  interest in and to, all of Debtor's  right,  title and interest in
and to the  following,  whether now owned or  hereafter  arising or acquired and
wherever located (collectively, the "Collateral"):

     (a) all of the Pledged Shares and  certificates,  if any,  representing the
Pledged Shares, and all dividends,  cash,  Instruments,  and other property from
time to time receivable or otherwise  distributed or distributable in respect of
or in exchange for any or all of the Pledged Shares;

     (b) all cash and non-cash Proceeds and products of any of the foregoing.

                                    ARTICLE 3

                         Representations and Warranties

     To induce  Secured  Party and the Lenders to enter into this  Agreement and
the other Loan Documents, Debtor represents and warrants that:

     Section  3.1  Financing  Statements.   No  financing  statement,   security
agreement or other Lien instrument covering all or any part of the Collateral is
on file in any public office,  except as may have been filed in favor of Secured
Party pursuant to this Agreement and except for financing

<PAGE>

statements evidencing Permitted Liens. Except as otherwise disclosed on Schedule
1 hereto,  Debtor does not do business and has not done business within the past
five (5) years  under a trade  name or any name  other  than its legal  name set
forth at the beginning of this Agreement.

     Section 3.2 Principal  Place of Business.  The principal  place of business
and chief  executive  office of Debtor,  and the office  where  Debtor keeps its
books and records, is located at the address of Debtor shown at the beginning of
this Agreement.

     Section 3.3 Delivery of Collateral.  Debtor has delivered to Secured Party,
endorsed in blank as  appropriate,  all  Collateral  the  possession of which is
necessary  to  perfect  the  security   interest  of  Secured   Party   therein.
Furthermore,  promptly  upon Debtor  gaining any rights in any  additional  such
Collateral,  Debtor shall  deliver to Secured Party such  additional  Collateral
endorsed in blank as appropriate.

     Section 3.4 Title. The Pledged Shares have been duly authorized and validly
issued and are fully paid and  nonassessable  under the laws of the jurisdiction
of incorporation or organization of the issuers thereof. Debtor is the legal and
beneficial  owner of the Pledged Shares,  free and clear of any Lien (other than
Permitted Liens),  and Debtor has not sold,  granted any option with respect to,
assigned,  transferred or otherwise disposed of any of its rights or interest in
or to the Pledged Shares.

     Section 3.5  Benefit.  Debtor  expects to derive  substantial  benefit (and
Debtor may reasonably be expected to derive substantial  benefit),  directly and
indirectly, from the Loans and the other transactions contemplated by the Credit
Agreement.  Debtor will receive reasonably  equivalent value in exchange for the
Collateral  being provided by it pursuant to the Loan Documents to which it is a
party as security for the payment and performance of the Obligations.

                                    ARTICLE 4

                                    Covenants

     Debtor  covenants and agrees with Secured Party that until the  Obligations
are paid and performed in full, the  obligations of Secured Party under the Loan
Documents  and  all  Commitments  of the  Lenders  have  expired  or  have  been
terminated:

     Section 4.1  Encumbrances.  Debtor  shall not  create,  permit or suffer to
exist, and shall defend all Capital Stock of any Foreign  Subsidiary  (including
the  Collateral)  against,  any Lien or other  encumbrance on such Capital Stock
(including the Collateral) except for Permitted Liens, and shall defend Debtor's
rights in and to such  Capital  Stock  (including  the  Collateral)  and Secured
Party's pledge and collateral assignment of and security interest in and to such
Capital Stock  (including the Collateral)  against the claims and demands of all
Persons. Debtor shall do nothing to impair the rights of Secured Party in and to
all Capital Stock of any Foreign Subsidiary (including the Collateral).

<PAGE>

     Section 4.2 Further Assurances. At any time and from time to time, upon the
request of Secured  Party,  and at the sole  expense  of  Debtor,  Debtor  shall
promptly  execute  and  deliver  all such  further  agreements,  documents,  and
instruments  and take  such  further  action  as Debtor  may deem  necessary  or
appropriate  to preserve  and perfect  its  security  interest in and pledge and
collateral  assignment  of the  Collateral  and  carry  out the  provisions  and
purposes of this  Agreement or to enable  Secured  Party to exercise and enforce
its rights and remedies hereunder with respect to any of the Collateral. Without
limiting the generality of the foregoing,  Debtor shall, subject to the terms of
the Credit  Agreement,  (a) execute and deliver to Secured Party such  financing
statements as Secured Party may from time to time require,  (b) take such action
as Secured  Party may request to permit  Secured  Party to have control over any
Collateral,  (c) deliver to Secured Party all Collateral the possession of which
is necessary to perfect the security  interest  therein,  duly  endorsed  and/or
accompanied by duly executed instruments of transfer or assignment,  all in form
and substance  reasonably  satisfactory  to Secured  Party;  and (d) execute and
deliver to Secured Party such other  agreements,  documents,  and instruments as
Secured Party may require to perfect and maintain the  validity,  effectiveness,
and priority of the Liens  intended to be created by this Agreement or any other
Loan  Document.  In the event Debtor fails,  upon request of Secured  Party,  to
promptly (and in any event within two days of such request) execute and file one
or  more  financing  or  continuation  statements,  and/or  amendments  thereto,
relating to all or any part of the Collateral,  Debtor authorizes  Secured Party
to file such financing or continuation  statements,  and/or  amendments  thereto
without the signature of Debtor where  permitted by law. A carbon,  photographic
or other  reproduction of this Agreement or of any financing  statement covering
the Collateral or any part thereof shall be sufficient as a financing  statement
and may be filed as a financing statement.

     Section 4.3 Corporate Changes.  Debtor shall not change its name,  identity
or  corporate  structure in any manner that might make any  financing  statement
filed in connection with this Agreement seriously misleading unless Debtor shall
have given Secured Party thirty (30) days prior written notice thereof and shall
have  taken all action  deemed  necessary  or  appropriate  by Secured  Party to
protect its Liens and the  perfection  and  priority  thereof.  Debtor shall not
change its  principal  place of business,  chief  executive  office or the place
where it keeps its books and records  unless it shall have given  Secured  Party
thirty (30) days prior  written  notice  thereof and shall have taken all action
deemed necessary or appropriate by Secured Party to cause its security  interest
in the Collateral to be perfected with the priority required by this Agreement.

     Section 4.4 Notification. Debtor shall promptly notify Secured Party of (a)
any Lien, encumbrance or claim (other than Permitted Liens) that has attached to
or been made or asserted against any of the Collateral,  (b) any material change
in any of the Collateral,  including, without limitation, any material damage to
or loss of  Collateral,  and (c) the  occurrence of any other event or condition
(including,  without limitation,  matters as to Lien priority) that could have a
Material  Adverse  Effect on the  Collateral  or the security  interest  created
hereunder.

     Section  4.5  Voting  Rights;  Distributions,  Etc.  So long as no Event of
Default  shall have  occurred  and be  continuing,  Debtor  shall be entitled to
exercise  any and all voting and other  consensual  rights  (including,  without
limitation,  the right to give consents,  waivers, and notifications) pertaining
to any of the Pledged Shares; provided, however, that without the prior

<PAGE>

written  consent of Secured Party no vote shall be cast or consent,  waiver,  or
ratification  given or action taken which would be inconsistent  with or violate
any provision of this Agreement or any other Loan Document.

     Section 4.6 Transfers and Other Liens; Additional Investments.

     (a)  Except  as may be  expressly  permitted  by the  terms  of the  Credit
Agreement,  Debtor shall not grant any option with respect to, exchange, sell or
otherwise dispose of any of the Collateral or create or permit to exist any Lien
upon or with  respect  to any of the  Collateral  except  for the Liens  created
hereby and Permitted Liens.

     (b) Debtor  agrees that it will (i) cause each issuer of any of the Pledged
Shares not to issue any Capital Stock,  notes or other securities or instruments
in addition to or in substitution for any of the Pledged Shares,  except, (A) as
required by Section 8.17 of the Credit Agreement or (B) otherwise with the prior
written consent of Secured Party, to Debtor; (ii) pledge hereunder,  immediately
upon its acquisition  (directly or indirectly) thereof, any and all such Capital
Stock (but in any event not more than 66% of the  Capital  Stock of any  Foreign
Subsidiary),  notes or other securities or instruments,  and (iii) promptly (and
in any event within three  Business Days) deliver to Secured Party an Amendment,
duly  executed  by  Debtor,   in  substantially   the  form  of  Exhibit  A  (an
"Amendment"),  in respect of such Capital  Stock,  notes or other  securities or
instruments,  together  with all  certificates,  notes or  other  securities  or
instruments  representing  or evidencing the same.  Debtor hereby (1) authorizes
Secured Party to attach each  Amendment to this  Agreement,  (2) agrees that all
such Capital  Stock,  notes or other  securities  or  instruments  listed on any
Amendment delivered to Secured Party shall for all purposes hereunder constitute
Pledged  Shares,  and (3) is  deemed  to have  made,  upon  such  delivery,  the
representations  and  warranties  contained  in  Article 3 with  respect to such
Pledged Shares.

                                    ARTICLE 5

                             Rights of Secured Party

     Section 5.1 Power of Attorney.  Debtor hereby  irrevocably  constitutes and
appoints  Secured  Party and any  officer or agent  thereof,  with full power of
substitution,  as its true and  lawful  attorney_in_fact  with full  irrevocable
power and  authority in the name of Debtor or in its own name, to take after the
occurrence  and during the  continuance  of an Event of Default and from time to
time  thereafter,  any and all action and to execute any and all  documents  and
instruments  which  Secured  Party  at any  time  and  from  time to time  deems
necessary or desirable to accomplish the purposes of this Agreement and, without
limiting the generality of the foregoing,  Debtor hereby gives Secured Party the
power  and  right  on  behalf  of  Debtor  and in its own  name to do any of the
following  after  the  occurrence  and  during  the  continuance  of an Event of
Default, without notice to or the consent of Debtor:

<PAGE>

     (a) to demand, sue for, collect or receive, in the name of Debtor or in its
own name,  any money or property at any time payable or receivable on account of
or in exchange for any of the Collateral and, in connection  therewith,  endorse
checks,  notes,  drafts,  acceptances,  money orders,  documents of title or any
other instruments for the payment of money under the Collateral;

     (b) to pay or discharge taxes, Liens or other encumbrances levied or placed
on or threatened against the Collateral;

     (c) (i) to receive  payment of and receipt  for any and all monies,  claims
and other amounts due and to become due at any time in respect of or arising out
of any  Collateral;  (ii) to sign and endorse any  invoices,  freight or express
bills, bills of lading,  storage or warehouse receipts,  drafts against debtors,
assignments, proxies, stock powers, verifications and notices in connection with
accounts and other documents  relating to the Collateral;  (iii) to commence and
prosecute  any suit,  action or  proceeding  at law or in equity in any court of
competent  jurisdiction  to collect the  Collateral  or any part  thereof and to
enforce any other right in respect of any  Collateral;  (iv) to defend any suit,
action or proceeding brought against Debtor with respect to any Collateral;  (v)
to settle,  compromise or adjust any suit, action or proceeding  described above
and, in  connection  therewith,  to give such  discharges or releases as Secured
Party may deem  appropriate;  (vi) to add or release  any  guarantor,  indorser,
surety  or  other  party  to any of  the  Collateral;  (vii)  to  make,  settle,
compromise or adjust any claims under or  pertaining  to any of the  Collateral;
and (viii) to sell, transfer, pledge, convey, make any agreement with respect to
or otherwise  deal with any of the  Collateral as fully and completely as though
Secured Party were the absolute  owner  thereof for all purposes,  and to do, at
Secured Party's option and Debtor's expense,  at any time, or from time to time,
all acts and things which  Secured Party deems  necessary to protect,  preserve,
maintain or realize upon the Collateral and Secured  Party's  security  interest
therein.

     This power of attorney  is a power  coupled  with an interest  and shall be
irrevocable  until this  Agreement is terminated  in accordance  with its terms.
Secured Party shall be under no duty to exercise or withhold the exercise of any
of the rights, powers, privileges and options expressly or implicitly granted to
Secured Party in this  Agreement,  and shall not be liable for any failure to do
so or any delay in doing so. Neither Secured Party nor any Person  designated by
Secured  Party  shall be  liable  for any act or  omission  or for any  error of
judgment  or any  mistake  of  fact or  law,  except  for  failure  to  exercise
reasonable  care  in the  custody  and  preservation  of the  Collateral  in its
possession.  This power of  attorney is  conferred  on Secured  Party  solely to
protect,  preserve,  maintain  and  realize  upon its  security  interest in the
Collateral.  Secured Party shall not be responsible for any decline in the value
of the Collateral and shall not be required to take any steps to preserve rights
against  prior  parties or to protect,  preserve  or maintain  any Lien given to
secure the Collateral.

     Section 5.2 Assignment by Secured Party.  In accordance with the provisions
of the Credit  Agreement,  any of Secured  Party and the Lenders may at any time
assign or otherwise  transfer  all or any portion of its rights and  obligations
under this Agreement and the other Loan Documents

<PAGE>

(including,   without  limitation,  the  Obligations),  in  connection  with  an
assignment of the Obligations,  to any other Person, and such other Person shall
thereupon  become vested with all the benefits  thereof granted to Secured Party
and the Lenders, respectively, herein or otherwise.

     Section 5.3  Performance by Secured Party.  If Debtor shall fail to perform
any covenant or agreement contained in this Agreement, Secured Party may perform
or attempt to perform such  covenant or  agreement on behalf of Debtor.  In such
event,  Debtor shall,  at the request of Secured Party,  promptly pay any amount
expended by Secured  Party in  connection  with such  performance  or  attempted
performance to Secured Party, together with interest thereon at the Default Rate
from and including the date of such  expenditure  to but excluding the date such
expenditure  is paid in full.  Notwithstanding  the  foregoing,  it is expressly
agreed that Secured Party shall not have any liability or responsibility for the
performance of any obligation of Debtor under this Agreement.

                                    ARTICLE 6

                                     Default

     Section 6.1 Rights and Remedies. If an Event of Default shall have occurred
and be  continuing,  Secured Party shall have the following  rights and remedies
with respect to the Collateral:

     (a) In addition to all other rights and remedies  granted to Secured  Party
in this  Agreement or in any other Loan Document or by applicable  law,  Secured
Party shall have all of the rights and remedies of a secured party under the UCC
(whether or not the UCC applies to the affected  Collateral)  and Secured  Party
may also,  without notice except as specified below,  sell the Collateral or any
part thereof in one or more parcels at public or private  sale, at any exchange,
broker's board or at any of Secured Party's  offices or elsewhere,  for cash, on
credit or for future  delivery,  and upon such other terms as Secured  Party may
deem  commercially  reasonable or otherwise as may be permitted by law.  Without
limiting the generality of the  foregoing,  Secured Party may (i) without demand
or notice to Debtor,  collect,  receive or take  possession of the Collateral or
any part thereof and for that purpose  Secured Party may enter upon any premises
on which the Collateral is located and remove the Collateral therefrom or render
it inoperable,  and/or (ii) sell, lease or otherwise  dispose of the Collateral,
or any part thereof,  in one or more parcels at public or private sale or sales,
at Secured  Party's  offices  or  elsewhere,  for cash,  on credit or for future
delivery,  and upon such  other  terms as  Secured  Party may deem  commercially
reasonable or otherwise as may be permitted by law. Secured Party shall have the
right at any public sale or sales,  and, to the extent  permitted by  applicable
law,  at any  private  sale or sales,  to bid  (which bid may be, in whole or in
part, in the form of cancellation of indebtedness) and become a purchaser of the
Collateral  or any part thereof free of any right or equity of redemption on the
part of Debtor,  which right or equity of redemption is hereby  expressly waived
and released by Debtor. Upon the request of Secured Party, Debtor shall assemble
the Collateral and make it available to Secured Party at any place designated by
Secured Party that is reasonably  convenient to Debtor and Secured Party. Debtor
agrees that Secured Party shall not be obligated

<PAGE>

to give more than five (5) days  prior  written  notice of the time and place of
any public sale or of the time after  which any private  sale may take place and
that such notice shall  constitute  reasonable  notice of such matters.  Secured
Party  shall  not be  obligated  to make  any  sale of  Collateral  if it  shall
determine not to do so, regardless of the fact that notice of sale of Collateral
may have been given.  Secured Party may, without notice or publication,  adjourn
any public or private sale or cause the same to be  adjourned  from time to time
by announcement at the time and place fixed for sale, and such sale may, without
further  notice,  be made at the  time  and  place  to  which  the  same  was so
adjourned.  Debtor  shall be  liable  for all  expenses  of  retaking,  holding,
preparing for sale or the like,  and all  attorneys'  fees,  legal  expenses and
other  costs and  expenses  incurred  by Secured  Party in  connection  with the
collection of the  Obligations  and the  enforcement  of Secured  Party's rights
under this  Agreement.  Debtor shall  remain  liable for any  deficiency  if the
Proceeds  of any sale or other  disposition  of the  Collateral  applied  to the
Obligations are  insufficient to pay the Obligations in full.  Secured Party may
apply the Collateral against the Obligations in such order and manner as Secured
Party may elect in its sole discretion.  Debtor waives all rights of marshaling,
valuation and appraisal in respect of the  Collateral.  Any cash held by Secured
Party as Collateral  and all cash proceeds  received by Secured Party in respect
of any sale of, collection from or other realization upon all or any part of the
Collateral  may, in the discretion of Secured Party, be held by Secured Party as
collateral for, and then or at any time  thereafter  applied in whole or in part
by Secured Party against,  the  Obligations in such order as Secured Party shall
select.  Any surplus of such cash or cash proceeds and interest accrued thereon,
if any,  held by Secured  Party and  remaining  after payment in full of all the
Obligations  shall be paid  over to  Debtor  or to  whomsoever  may be  lawfully
entitled to receive such  surplus;  provided  that  Secured  Party shall have no
obligation  to invest or  otherwise  pay  interest on any amounts  held by it in
connection with or pursuant to this Agreement.

     (b) Secured  Party may  exercise  any and all rights and remedies of Debtor
under or in respect of the Collateral,  including,  without limitation,  any and
all rights of Debtor to demand or otherwise require payment of any amount under,
or performance of any provision of, any of the Collateral and any and all voting
rights and corporate powers in respect of the Collateral.

     (c) Secured  Party may collect or receive all money or property at any time
payable or  receivable  on account of or in exchange for any of the  Collateral,
but shall be under no obligation to do so.

     (d) On any sale of the  Collateral,  Secured Party is hereby  authorized to
comply with any limitation or restriction with which compliance is necessary, in
the  view of  Secured  Party's  counsel,  in order to  avoid  any  violation  of
applicable  law or in order to obtain any required  approval of the purchaser or
purchasers  by  any  applicable   Governmental   Authority,   including  without
limitation,  with respect to any  applicable  securities  laws which may,  among
other things,  restrict the manner of sale or eligibility of certain  purchasers
of the Collateral.

     (e) Secured Party may cause any or all of the Collateral held by it to be

<PAGE>

transferred  into the  name of  Secured  Party  or the name or names of  Secured
Party's nominee or nominees.

                                    ARTICLE 7

                                  Miscellaneous

     Section  7.1 No  Waiver;  Cumulative  Remedies.  No  failure on the part of
Secured Party to exercise and no delay in  exercising,  and no course of dealing
with  respect  to, any right,  power or  privilege  under this  Agreement  shall
operate as a waiver  thereof,  nor shall any single or partial  exercise  of any
right,  power or privilege  under this  Agreement  preclude any other or further
exercise  thereof or the exercise of any other right,  power or  privilege.  The
rights and  remedies  provided  for in this  Agreement  are  cumulative  and not
exclusive of any rights and remedies provided by law.

     Section 7.2  Successors and Assigns.  This Agreement  shall be binding upon
and inure to the benefit of Debtor and Secured Party and their respective heirs,
successors and permitted  assigns,  except that Debtor may not assign any of its
rights,  indebtedness,  liabilities or obligations  under this Agreement without
the prior written consent of Secured Party.

     Section 7.3 Entire Agreement; Amendment. THIS AGREEMENT EMBODIES THE FINAL,
ENTIRE  AGREEMENT  AMONG THE  PARTIES  HERETO AND  SUPERSEDES  ANY AND ALL PRIOR
COMMITMENTS, AGREEMENTS,  REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR
ORAL,  RELATING  TO THE SUBJECT  MATTER  HEREOF AND MAY NOT BE  CONTRADICTED  OR
VARIED BY EVIDENCE OF PRIOR,  CONTEMPORANEOUS  OR SUBSEQUENT  ORAL AGREEMENTS OR
DISCUSSIONS OF THE PARTIES HERETO.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG
THE PARTIES HERETO.

     Section 7.4 Notices. All notices and other  communications  provided for in
this Agreement  shall be given or made by telecopy or in writing and telecopied,
mailed by certified mail return receipt requested,  or delivered to the intended
recipient at the "Address for Notices" specified below its name on the signature
pages hereof,  or, as to any party, at such other address as shall be designated
by such  party in a notice  to the other  party  given in  accordance  with this
Section  7.4.  Except  as  otherwise  provided  in  this  Agreement,   all  such
communications  shall be  deemed to have been duly  given  when  transmitted  by
telecopy or when personally  delivered or, in the case of a mailed notice, three
(3) Business Days after deposit in the mails, in each case given or addressed as
aforesaid;  provided,  however,  that  notices to Secured  Party shall be deemed
given when received by Secured Party.

     Section 7.5 Governing Law; Submission to Jurisdiction;  Service of Process.
EXCEPT AS MAY BE EXPRESSLY STATED TO THE CONTRARY IN THE CREDIT AGREEMENT,  THIS
AGREEMENT  SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE  WITH,  THE LAWS OF
THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAWS  PRINCIPLES) AND EACH
OF THE PARTIES

<PAGE>

HERETO  CHOOSE  THE  LAWS OF THE  STATE  OF NEW YORK TO  GOVERN  THIS  AGREEMENT
PURSUANT TO N.Y. GEN. OBLIG.  LAW SECTION 5-1401  (CONSOL.  1995) AND APPLICABLE
LAWS OF THE U.S. DEBTOR HEREBY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF EACH
OF (1) THE U.S.  DISTRICT  COURT FOR THE SOUTHERN  DISTRICT OF NEW YORK, (2) ANY
NEW YORK STATE COURT SITTING IN NEW YORK, NEW YORK, (3) THE U.S.  DISTRICT COURT
FOR THE  NORTHERN  DISTRICT OF TEXAS,  AND (4) ANY TEXAS STATE COURT  SITTING IN
DALLAS,  COUNTY, TEXAS, FOR THE PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF
OR  RELATING TO THIS  AGREEMENT,  ANY OTHER LOAN  DOCUMENT  OR THE  TRANSACTIONS
CONTEMPLATED  HEREBY OR THEREBY.  DEBTOR IRREVOCABLY  CONSENTS TO THE SERVICE OF
ANY AND ALL PROCESS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES OF
SUCH  PROCESS TO DEBTOR AT ITS  ADDRESS FOR  NOTICES  SET FORTH  UNDERNEATH  ITS
SIGNATURE  HERETO.  DEBTOR  HEREBY  IRREVOCABLY  WAIVES,  TO THE FULLEST  EXTENT
PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING
OF THE VENUE OF ANY SUCH  PROCEEDING  BROUGHT IN SUCH A COURT AND ANY CLAIM THAT
ANY SUCH PROCEEDING  BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT
FORUM.

     Section 7.6 Headings. The headings,  captions and arrangements used in this
Agreement are for convenience  only and shall not affect the  interpretation  of
this Agreement.

     Section 7.7 Survival of Representations and Warranties. All representations
and warranties made in this Agreement or in any certificate  delivered  pursuant
hereto  shall  survive the  execution  and  delivery of this  Agreement,  and no
investigation by Secured Party shall affect the  representations  and warranties
or the right of Secured Party to rely upon them.

     Section 7.8  Counterparts.  This Agreement may be executed in any number of
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

     Section  7.9  Waiver of Bond.  In the  event  Secured  Party  seeks to take
possession of any or all of the  Collateral by judicial  process,  Debtor hereby
irrevocably  waives any bonds and any surety or security  relating  thereto that
may be required by applicable law as an incident to such possession,  and waives
any demand for possession prior to the commencement of any such suit or action.

     Section  7.10  Severability.  Any  provision  of this  Agreement  which  is
determined   by  a  court  of  competent   jurisdiction   to  be  prohibited  or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability  without  invalidating the
remaining   provisions  of  this   Agreement,   and  any  such   prohibition  or
unenforceability   in  any   jurisdiction   shall  not   invalidate   or  render
unenforceable such provision in any other jurisdiction.

<PAGE>

     Section 7.11  Construction.  Debtor and Secured Party acknowledge that each
of them has had the  benefit  of legal  counsel  of its own  choice and has been
afforded an opportunity to review this Agreement with its legal counsel and that
this  Agreement  shall be construed as if jointly  drafted by Debtor and Secured
Party.

     Section 7.12  Termination.  If all of the Obligations  shall have been paid
and performed in full and all  Commitments  of the Lenders shall have expired or
terminated,  Secured Party shall,  upon the written request of Debtor,  promptly
execute and deliver to Debtor a proper  instrument or instruments  acknowledging
the release and termination of the security interests created by this Agreement,
and shall duly assign and deliver to Debtor  (without  recourse  and without any
representation  or warranty,  except as may be set forth in Section 5.1) such of
the  Collateral  as may be in the  possession  of  Secured  Party  and  has  not
previously been sold or otherwise applied pursuant to this Agreement.

     Section  7.13 Waiver of Jury  Trial.  TO THE FULLEST  EXTENT  PERMITTED  BY
APPLICABLE  LAW,  EACH OF THE PARTIES  HERETO HEREBY  IRREVOCABLY  AND EXPRESSLY
WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION,  PROCEEDING  OR  COUNTERCLAIM
(WHETHER BASED UPON CONTRACT,  TORT OR OTHERWISE)  ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THE ACTIONS OF SECURED
PARTY IN THE NEGOTIATION, ADMINISTRATION OR ENFORCEMENT THEREOF.

         [The remainder of this page has been intentionally left blank.]

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the day and year first written above.

                           DEBTOR:
                           -------

                           SAVVIS COMMUNICATIONS CORPORATION,
                             a Delaware corporation

                              By:/s/ David J. Frear

                              --------------------------
                           Name:  David J. Frear
                           Title: Executive Vice President,
                                  Chief Financial Officer

                           Address for Notices:
                           --------------------
                           12007 Sunrise Valley Drive

                             Reston, Virginia 20191

                           Attention: Chief Financial Officer

                            Telephone: (703) 453-7500

                            Telecopy: (703) 716-1059

                           and

                              12851 Worldgate Drive

                             Herndon, Virginia 20170

                           Attention: Chief Financial Officer

                            Telephone: (703) 234-8000

                            Telecopy: (703) 234-8309

                           with a copy which shall not constitute notice to:

                           717 Office Parkway
                           St. Louis, Missouri 63141
                           Attention: General Counsel
                           Telephone: (314) 468-7500
                           Telecopy:  (314) 468-7550

<PAGE>

                           SECURED PARTY:
                           --------------

                           NORTEL NETWORKS INC.,
                             as Administrative Agent

                            By:/s/ Mitchell L. Stone

                              --------------------------
                             Name: Mitchell L. Stone

                           Title: Director, Customer Finance Americas

                           Address for Notices:
                           --------------------
                           Nortel Networks Inc.
                           Mail Stop 991 15 A40
                           2221 Lakeside Blvd.
                          Richardson, Texas 75082-4399

                           Attention:     Mitchell L. Stone
                                          Director, Customer Finance Americas
                           Telephone:     972-684-0395
                           Telecopy:      972-684-3679

                           and

                           Nortel Networks Inc.
                           Mail Stop 468/05/B40
                           2100 Lakeside Blvd.
                          Richardson, Texas 75082-4399

                             Attention: Kimberly Poe

                                          Director, Loan Administration
                           Telephone:     972-684-7687
                           Telecopy:      972-685-3613CONFIDENTIAL TREATMENT REQUESTED

                                                                        REDACTED

                                 AMENDMENT NO. 4

         This AMENDMENT NO. 4 (this "Amendment"),  effective as of June 30, 2000
(the "Amendment Date"), by and among Talk.com Holding, Inc. (formerly, Tel-Save,
Inc.) ("TS"), a Pennsylvania corporation, and Talk.com, Inc. (formerly, Tel-Save
Holdings,  Inc.),  a Delaware  corporation  ("Holdings"),  with their  principal
offices at 12020 Sunrise Valley Drive, Reston,  Virginia 20190, on the one hand,
and America Online,  Inc., a Delaware  corporation with its principal offices at
22000 AOL Way, Dulles, Virginia 20166 ("AOL"), on the other hand (each a "party"
and, collectively, the "parties").

                                  INTRODUCTION

         TS,  Holdings and AOL are parties to the  Telecommunications  Marketing
Agreement, dated as of February 22, 1997, as heretofore corrected and amended by
letter,  dated April 23, 1997,  and amended by an Amendment No. 1, dated January
25, 1998, an Amendment No. 2, dated May 14, 1998, and an Amendment No.3 dated as
of October 1, 1998 (as so corrected and amended to the date hereof,  but without
giving effect to this Amendment,  the  "Agreement").  Capitalized  terms used in
this Amendment  without other  definition  are defined as in the  Agreement.  In
light of both  parties'  desire  to  increase  the  number  of End  Users of the
Services,  and without either party making any admission of fault or wrongdoing,
the parties hereby agree as follows:

                                      TERMS

1.       For each of the calendar  quarters  ending June 30, 2000 and  September
         30, 2000,  respectively,  AOL grants TS a $1,000,000 credit against the
         amount  due from TS to AOL for each such  quarter  pursuant  to Section
         V.B.1(c)(iii) and (iv) of the Agreement

2.       TS has provided AOL with proposed
         *** [MARKETING AND PROMOTIONAL SERVICES TO BE DELIVERED].

3.       In consideration of, and acknowledging  that the Release is a condition
         to, the parties' agreement to enter into this Amendment, as of June 30,
         2000, TS and Holdings each hereby  irrevocably  waives and releases all
         claims,  suits, demands,  actions, and rights,  whether known, unknown,
         contingent,  or fixed (individually and collectively referred to as the
         "Claims"), against AOL and its current and former directors,  officers,
         agents,  employees,  affiliates  and  assigns  (collectively,  the "AOL
         Released  Parties")  arising prior to June 30, 2000, and arising out of
         or in any way related to the AOL Released  Parties'  respective  roles,
         rights,  responsibilities,   or  obligations  in  connection  with  the
         provision,  involvement,  approval  or offer of  marketing  programs or
         services related to the ***, provided,  however, that nothing contained
         in this Section or this Amendment shall serve to release Claims against
         the AOL Released Parties asserted by unaffiliated third-parties related
         to the  provision,  terms,  conditions  or promotions of or relating to
         Talk.com's

<PAGE>

         telecommunications  services  or  the  ***.  Further,  it is  expressly
         understood  and agreed that this waiver and release is not  intended to
         release Claims directly arising out of the Services Agreement, dated as
         of December 1, 1999,  between TS and Direct  Marketing  Services.  This
         Release  shall be effective  notwithstanding  any terms to the contrary
         contained in the Agreement or this Amendment.

4.       The Agreement is amended to provide that references in the Agreement to
         "this Agreement" or "the Agreement" (including indirect references such
         as "hereunder,"  "hereby," "herein" and "hereof") shall be deemed to be
         references to the Agreement as amended hereby. If any term,  provision,
         covenant  or  restriction  of this  Amendment  is  held  by a court  of
         competent  jurisdiction  to be  invalid,  void  or  unenforceable,  the
         remainder of the terms, provisions, covenants, and restrictions of this
         Amendment  shall remain in full force and effect and shall in no way be
         affected,  impaired or invalidated  and the parties shall  negotiate in
         good faith to modify this Amendment to preserve,  to the fullest extent
         legally permitted,  each party's  anticipated  benefits and obligations
         under this Amendment. If the parties are unable to so agree, the matter
         shall be  resolved  pursuant  to Article  XI.D of the  Agreement.  This
         Amendment  does not, and shall not be construed  to, modify any term or
         condition of the Agreement (including,  without limitation, any payment
         obligations under the Agreement)  except as expressly  provided in this
         Amendment.  Except as  herein  provided,  the  Agreement  shall  remain
         unchanged  and  in  full  force  and  effect.   In  the  event  of  any
         inconsistency or discrepancy  between the Agreement and this Amendment,
         the terms and  conditions  set forth in this  Amendment  shall control.
         This Amendment may be executed in multiple counterparts,  each of which
         shall be deemed an original, but all of which together shall constitute
         one and the same  document.  This  Amendment  shall be  governed by the
         internal  laws of the State of New York,  without  giving effect to the
         principles of conflict of laws thereof.

 IN WITNESS WHEREOF,  the undersigned have caused this Amendment to be signed on
their behalf as of the date first written above.

AMERICA ONLINE, INC.

By:  _____________________
Name:
Title:  Senior Vice-President

TALK.COM, INC.                              TALK.COM HOLDING, INC.

By:  _____________________          By:  ____________________
Name:   Edward B. Meyercord                 Name:   Edward B. Meyercord
Title:  Executive Vice President          Title:  Executive Vice President

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