Document:

EXECUTION COPY

                               EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (the "Agreement") is made as of June 19th, 2000 by and
between URSUS TELECOM CORPORATION, a Florida corporation (the "Company"), and
JOHANNES SEEFRIED ("Seefried").

       In consideration of the mutual covenants contained herein, the parties
hereto agree as follows:

     1.        Term.  The Company hereby employs Seefried as the Chief
               -----
Financial Officer of the Company, and Seefried agrees to serve the Company as
such, upon the terms and Conditions hereof for the period commencing on the date
hereof and, unless Seefried's employment under the Agreement is otherwise
terminated in accordance with the provisions hereof, ending on December 31,
2000.

     2.         Duties, (a) Seefried shall serve as the Company's Chief
                ------
Financial Officer, with such duties and authority as are generally incident to
such position. Seefried will hold such senior offices and/or such
Directorships in the Company and/or any subsidiaries or affiliates of the
Company to which, from time to time, he  may be elected or appointed; provided
that the offices to which Seefried may be so elected or appointed shall not
be inconsistent with his duties and authority as aforesaid.

                         (b) Seefried agrees that he will devote substantially
all of his time and attention to the affairs of the Company and use his best
efforts to promote the business and interests of the Company and that he will
not engage, directly or indirectly, in any other business or occupation during
the term of employment hereunder.  It is understood, however, that the foregoing
will not prohibit Seefried from engaging in personal investment activities for
himself and his family that do not detrimentally interfere with the performance
of his duties hereunder.

     3.       Compensation. The Company will pay Seefried an annual salary
              ------------
("Base Salary") at an annual rate of $200,000 for the calendar year 2000,
payable in equal, bi-weekly installments in accordance with customary payroll
practices for senior executives of the Company for all services to be rendered
hereunder, including, without limitation, all services to be rendered by him as
an officer and/or director of the Company and its subsidiaries and affiliates.
In addition all existing benefits including medical benefits and the existing
car allowance benefit shall remain in place until the end of the term of this
employment agreement.

                In addition to the Annual Bonus described below, as an incentive
to execute this employment agreement and in recognition of his successful
closing of the Tail Wind Fund private placement agreement, the Board of
Directors granted Seefried on May 24, 2000 twenty-five thousand (25,000) options
on its common stock (of which up to $100,000 in value are

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eligible for a incentive stock option award), subject to shareowner approval of
an increase in the number of shares in the Company Stock Option Plan, at a
strike price of $10.25, vesting and exercisable on the grant date.

            Additional Financing Performance Bonus: Simultaneously with the
execution of this employment agreement, the Company by resolution of the
Compensation Committee of the Board of Directors hereby grant's Seefried a
performance bonus of up to One hundred thousand (100,000) non-qualified stock
options on its Common Stock at a strike price equal to the closing price on the
date of signing of this agreement, subject to shareowner approval of an increase
in the number of shares in the Company Stock Option Plan, based solely upon the
Company obtaining any additional public or private financing or investment by
May 31, 2001. Of such grant, Fifty-thousand (50,000) options shall be vested and
exercisable on the closing of any financing or investment of up to and including
Five Million dollars ($5,000,000).  An additional Twenty five thousand (25,000)
options shall be vested and exercisable on the closing of any financing or
investment of over Five Million dollars ($5,000,000) up to and including Seven
and one half million dollars ($7,500,000). An additional Twenty-five thousand
(25,000) options, for a total of one hundred thousand (100,000) options, shall
be
granted if the Company obtains any additional financing or investment over Seven
and one-half million dollars ($7,500,000).  These options shall be vested and
exercisable immediately upon closing of the additional financing or investment.
Seefried agrees that he will use his best efforts to obtain such additional
financing during his employment and the Company agrees that these options shall
be issued to Seefried irrespective of whether he personally negotiated the
financing arrangements or whether the additional financing occurred after his
termination of employment for any reason, notwithstanding any other provision in
this agreement to the contrary.

                 Employment Agreement Supercedes:  To the extent that any
provisions of this employment agreement conflict with or are inconsistent with
any provision in the 1998 stock incentive plan of Ursus Telecom Corporation or
any subsequently revised Company stock incentive plan, the provisions of this
employment agreement shall control; and any inconsistent or conflicting
provision of the Company's employee stock incentive plan shall be null and
void.

                 Strategic Relationship Performance Bonus:  In addition and
simultaneously with the execution of this employment agreement the Company by
resolution of the Compensation Committee of the Board of Directors hereby grants
Seefried a performance bonus of Seventy-five thousand (75,000) non-qualified
stock options on its Common Stock at a strike price equal to the closing price
on the date of signing of this agreement, subject to shareowner approval of an
increase in the number of shares in the Company Stock Option Plan, based solely
upon the Company closing by May 31, 2001, any of the following strategic
relationship agreements:

     A joint venture, and/or strategic alliance

     A partnering agreement

     An advertising contract or agreement

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     A revenue share agreement

     with any of following organizations:

*

These options shall be vested and exercisable immediately upon closing of an
agreement with any of the above named entities. The Company agrees that these
options shall be issued to Seefried irrespective of whether he personally
negotiated the agreements with the specified organizations or whether the
closing of such agreement occurred after his termination of employment for any
reason, notwithstanding any other provision in this agreement to the contrary.

           Nothing contained herein shall prohibit the Board of Directors of the
Company, in its sole discretion, from increasing the compensation payable to
Seefried pursuant to this Agreement, by way of increased Base Salary, Annual
Bonus, grant of options or warrants, or otherwise and/or making available to
Seefried other benefits in addition to those to which he is entitled hereunder.

              4.      Expenses. Seefried shall be entitled to reimbursement by
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the Company, in accordance with the Company's policies then applicable to senior
executives, against appropriate vouchers or other receipts for travel,
entertainment and other business expenses reasonably incurred by him in the
performance of his duties hereunder.

5.       Executive Benefits. Seefried shall be entitled to a paid vacation of
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4 weeks during calendar year 2000. Such vacation shall be taken at such time or
times during the applicable year as may be determined by Seefried subject to the
Company's reasonable business needs. Seefried shall be entitled to
participate in, and receive benefits under, any pension, profit sharing,
insurance, hospitalization, medical, disability, stock purchase, stock option,
stock ownership or other employee benefit plan, program or policy of the Company
that may be in effect at any time during the course of his employment by the
Company and which shall be generally available to senior executives of the
Company occupying positions of comparable status or responsibility, subject to
the terms of such plans, programs or policies. Notwithstanding the foregoing,
the Company may, in its sole discretion, at any time and from time to time,
change or revoke any of its employee benefits plans, programs or
policies and Seefried shall not be deemed, solely by virtue of this Agreement,
to have any vested interest in the continuation of any such plans, programs or
policies; provided, however, that nothing in this Agreement shall affect
or impair any vested rights of Seefried under the terms of any such plan,
program or policy.

     6.     Withholding. All payments required to be made by the Company
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hereunder to Seefried shall be subject to the withholding of such amounts
relating to taxes and other governmental assessments as the Company may
reasonably determine it should withhold pursuant to any applicable law, rule or
regulation.
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*Confidential Treatment Requested.  The redacted material has been separately
filed with the Commission.
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     7.     Death: Permanent Disability. In the event of the death of Seefried
            ----------------------------
during the term of this Agreement, this Agreement shall terminate. If during the
term of this Agreement Seefried fails because of illness or other incapacity to
perform the services required to be performed by him hereunder for any
consecutive period of more than 120 days, or for shorter periods aggregating
more than 180 days in any consecutive twelve-month period
(any such illness or incapacity being hereinafter referred to as a "permanent
disability"), then the Company, in its discretion, may at any time thereafter
terminate this Agreement upon not less than 10 days' written notice thereof to
Seefried, and this Agreement shall terminate and come to an end upon the date
se tforth in said notice as if said date were the termination date of this
Agreement; provided, however, that no such termination shall be effective if
prior to the date when such notice is given, Seefried's illness or incapacity
shall have terminated and he shall be physically and mentally able to perform
the services required hereunder and shall have taken up and be performing such
duties.

            If Seefried's employment shall be terminated by reason of his death
or permanent disability, Seefried or his estate, as the case may be, shall be
entitled to receive (i) any earned and unpaid salary accrued
through the date of termination, (ii) a pro rata portion of any annual bonus
which Seefried would otherwise have been entitled to receive pursuant to any
bonus plan or arrangement for senior executives of the Company, (iii) options on
the Company's Common stock awarded in accordance with the above paragraphs on
the additional financing performance bonus or the strategic relationships
performance bonus as designated in this employment agreement and (iv) subject to
the terms thereof, any benefits that may be due to Seefried on the date of
termination under the provisions of any employee benefit plan, program or
policy.

             8.       Termination for Cause. The Company may at any time
                       --------------------
during the term of this Agreement, by written notice, terminate the employment
of Seefried for cause, the cause to be specified in the notice. For purposes of
this Agreement, "cause" shall mean (i) any willful misconduct of Seefried in
connection with the performance of any of his duties hereunder, including
without limitation misappropriation of funds or property of the Company,
securing or attempting to secure personally any profit in connection with any
transaction entered into on behalf of the Company or any willful and intentional
act having
the effect of injuring the reputation, business or business relationships of the
Company; (ii) willful failure, neglect or refusal to perform Seefried's material
duties hereunder that is not cured within 20 days after the Company notifies
Seefried thereof; (iii) breach of any material covenants contained in this
Agreement that is not cured within 20 days after the Company notifies Seefried
thereof; and (iv) conviction (or nolo contendere plea) in connection with a
felony relating in any way to the business or affairs of the Company, or which
would be required to be disclosed in any filing or report with the U.S.
Securities and  Exchange Commission. The determination of whether "cause" exists
shall only be made at a meeting of the Board of Directors of which Seefried
receives notice and an opportunity to address the Board on such matter.
Termination for Cause shall be effective upon the giving of such notice and
Seefried shall be entitled to receive      (i)     any earned and unpaid salary
accrued through the date of termination
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and (ii) subject to the terms thereof, any benefits which may be due to Seefried
on such date under the provisions of any employee benefit plan,
program or policy. Seefried hereby disclaims any right to receive a pro-rata
portion of any annual bonus with respect to the fiscal year in which such
termination occurs.

     9.       Resignation for Good Reason. Seefried may at any time during the
              ---------------------------
term of this Agreement, by written notice, terminate his employment for good
reason, the reason to be specified in the notice. For purposes of this
Agreement,
"good reason" shall exist if (i) the Company materially fails to comply with any
of the provisions of this Agreement, other than isolated, insubstantial or
inadvertent failures not occurring in bad faith and which are remedied by the
Company promptly after receipt of notice thereof given by Seefried, or (ii) the
Company shall diminish Seefried's title, duties, base salary or benefits.

      10.     Payments Upon Termination. If during the term of this Agreement,
              --------------------------
Seefried' s employment is terminated (i) by the Company without "cause" or
(ii) by Seefried for any "good reason," the Company shall pay to Seefried the
Base Salary at the rate in effect at the time notice of termination is given,
together with any applicable Annual Bonuses and benefits payable under the terms
of this Agreement and other rights and benefits Seefried may have under employee
benefits plans and programs of the Company in existence as of the date of such
termination for the balance of the term of this Agreement  In addition, the
exercise period for all granted and vested unexercised options shall be extended
for twelve (12) months following the date of Seefried's termination.

       11.     Payments Upon Change of Control. During the term of this
               -------------------------------
Agreement, if there is a Change of Control (as hereinafter defined) and the
Company takes any action that would entitle Seefried to terminate his employment
for "good reason," as such term is defined in Section 9 hereof (a "Triggering
Event"), then Seefried may at his election, at any time within the term of this
employment agreement terminate this Agreement (a "Voluntary Termination"), and
Seefried shall be entitled to the following compensation, in addition to the
other compensation and bonuses provided for herein:

                 (a) In lieu of any further salary payments to Seefried for
periods subsequent to the date of Voluntary Termination, the Company shall pay
as severance payment to Seefried, no later than the fifth day following the date
of Voluntary Termination, a lump-sum severance payment of two years' base
includible
compensation, equal to the maximum tax deduction that the Company is eligible to
receive under the applicable "golden parachute" regulations; and

                   (b) The Company shall provide Seefried with all employee
benefits and programs of the Company that Seefried was entitled to receive or
participate in immediately prior to the effective date of the Voluntary
Termination for the twelve (12) month period following the date of such
Voluntary Termination. In addition, the exercise period for granted and vested
options shall be extended for twelve (12) months following the date of
Seefried's termination.

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              For the purposes of this Agreement, "Change of Control" shall mean
the occurrence of any of the following events:

              (i) Any "person" or "group" (as such terms are used under
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as Amended
(the"Exchange Act"), whether or not such Sections are applicable) is or becomes,
whether by means of any issuance or direct or indirect transfer of securities,
merger, consolidation, liquidation, dissolution or otherwise, the
"beneficial owner" (as that term is used under Rules 13d-3 and 13d-5 under the
Exchange Act, whether or not such rules are applicable, except that a "person"
or
"group" shall be deemed to have "beneficial ownership" of all shares that he or
it has the right to acquire, whether such right is exercisable immediately or
only after the passage of time or otherwise), directly or indirectly through one
or more intermediaries, of either 33% or more of the total voting power
represented by all of the voting stock of the Company; or 33% of all of the
outstanding common stock of the Company

             (ii) Directly or indirectly, a transfer, sale, lease or other
disposition of all or substantially all of the assets of the Company and its
subsidiaries taken as a whole to any "person" or "group" (as such terms are used
in Sections 13(d) and 14(d) of the Exchange Act, whether or not such sections
are applicable), excluding any disposition to or among the Company and/or one or
more of its subsidiaries; or

            (iii) Any "person" or "group" (as such terms are used under
Sections 13(d) and 14(d) of the Exchange Act, whether or not such sections are
applicable) otherwise obtains the right or power (through any arrangement,
contract, proxy or other means) to elect or designate a majority of the members
of the Board of Directors of the Company then in office, without regard to
whether such right or power is exercised or invoked and without taking into
account the necessity of a special or annual stockholders meeting or the taking
of other procedural actions to exercise or invoke such
right or power.

        12.     Insurance. Seefried agrees that the Company, at its sole
                ---------
expense, may procure insurance on the life of Seefried, in such amounts as the
Company may in its discretion determine, and with the Company named as the
beneficiary under the policy or policies. Seefried agrees that upon request from
the Company he will submit to a physical examination and will execute such
applications and other documents as may be required for the procurement of such
insurance.

        13.     Non-Competition: Solicitation, (a) Seefried agrees that during
                ------------------------------
his employment with the Company he shall not, without the written consent of the
Company, directly or indirectly, either individually or as an employee, agent,
partner, shareholder, consultant, option holder, lender of money, guarantor or
in any other capacity, participate in, engage in or have a financial interest or
management position or other interest in any business, firm, corporation or
other
entity within the State of Florida if it competes directly with any business
operation conducted by the Company or its subsidiaries or affiliates or any
successor or assign thereof, nor will he solicit any other person to engage in
any of the foregoing activities. Participation in the management of any business
operation other than in 
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connection with the management of a business operation which is in direct
competition with the Company or its subsidiaries or affiliates or any successor
or assign thereof shall not be deemed to be a breach of this Section 13(a). The
foregoing provisions of this Section 13(a) shall not prohibit the ownership by
Seefried (as the result of open market purchase) of 5% or less of any class of
capital stock of a corporation which is regularly traded on a national
securities exchange or over-the-counter on the NASDAQ System.

           (b) Seefried will not, without the written consent of the Company, at
any time during his employment with the Company and for a period of one year
after Seefried leaves the Company's employ for any reason, solicit (or assist or
encourage the solicitation of) any employee of the Company or any of its
subsidiaries or affiliates to work for Seefried or for any business, firm,
corporation or other entity in which Seefried, directly or indirectly, in any
capacity described in Section 13 (a) hereof, participates or engages (or expects
to participate or engage) or has (or expects to have) a financial interest or
management position, except that this provision shall not affect Seefried's
right, after the termination of his employment for any reason, to solicit those
employees of the Company or its subsidiaries or affiliates with whom Seefried
has had a business or personal association prior to the
original commencement of Seefried's employment by the Company, to become
associated with or work for an entity with which Seefried is then associated or
working with, in compliance with the non-compete provisions of Section 13
(a) (e.g., for an employer not within the State of Florida).

      (c) If any of the covenants contained in this Section 13 or any part
thereof is held by a court of competent jurisdiction to be unenforceable because
of the duration of such provision, the activity limited by or the
subject of such provision and/or the area covered thereby, then the court making
such determination shall construe such restriction so as to thereafter be
limited or reduced to be enforceable to the greatest extent permissible by
applicable law.

     14.    Inventions, Etc. Seefried agrees that any and all systems, work-
            ----------------
in- progress, inventions, discoveries, improvements, compounds, formulae,
patents, copyrights and trademarks, made or developed by him,  solely or jointly
with others, or otherwise, during the term of his employment by the Company, and
which may be useful in or relate to any business of the Company and/or any
subsidiary or affiliate of the Company shall be fully disclosed by Seefried to
the Chief Executive Officer of the Company, and shall be the sole and absolute
property of the Company, and the Company will be the sole and absolute owner
thereof. Seefried agrees that at all times, both during his employment and after
the termination of his employment, he will keep all of the same secret from
everyone except the Company and its duly authorized employees and will disclose
the same to no one except as required in good faith in the course of his
employment with the Company, or by law, or unless otherwise authorized in
writing by the Chief Executive Officer of the Company.

     15.    Patents. Seefried agrees, at the request of the Company, to make
            -------
application in due form for United States Letters Patent and foreign Letters
Patent on any of such systems, inventions, discoveries, improvements, compounds
and formulae referred to in Section 14 hereof, and to assign to the Company all
of his right, title and interest in and to said inventions,
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discoveries, improvements, compounds, formulae and patent applications therefore
or patents thereon, and to execute at any and all times any and all instruments,
and to do any and all acts necessary, or which the Company may reasonably deem
appropriate, in connection with such applications for Letters Patent, in order
to establish and perfect in the Company the entire right, title and interest in
and to said systems, inventions, discoveries, improvements, compounds, formulae
and patent applications therefore, or in the conduct of any proceedings or
litigation in regard thereto. It is
understood and agreed that all costs and expenses, including but not limited to
reasonable attorneys' fees, incurred at the request of the Company in connection
with any action taken by Seefried pursuant to this Section 15, shall be borne by
the Company.

        16.     Trade Secrets, Etc. Seefried agrees that he shall not, during
                -------------------
or after the termination of this Agreement, divulge, furnish or make accessible
to any person, firm, corporation or other business entity, any
confidential information, trade secrets, technical data or know-how relating to
the business, business practices, methods, products, equipment, client's prices
or other confidential or secret aspect of the business of the Company
and/or any subsidiary or affiliate, except as may be required in good faith in
the course of his employment with the Company or by law, without the prior
written consent of the Company, unless such information shall become public
knowledge (other than by reason of Seefried's breach of the provisions hereof).

         17.     Acceptance.  Each of the Company and Seefried accepts all of
                 ----------
the terms and provisions of this Agreement and agrees to perform all of the
covenants to be performed hereunder.

         18.     Equitable Remedies. Seefried acknowledges that he has been
                 ------------------
employed for his unique talents and that his leaving the employ of the Company
would seriously hamper the business of the Company and that the Company will
suffer irreparable damage if any provisions of Sections 13, 14, 15 or 16 hereof
are not performed strictly in accordance with their terms or are otherwise
breached. Seefried hereby expressly agrees that the Company shall be entitled as
a matter of right to injunctive or other equitable relief, in addition to all
other remedies permitted by law, to prevent a breach or violation by Seefried
and to secure enforcement of the provisions of Sections 13, 14, 15 or 16 hereof.
Resort to such equitable relief, however, shall not constitute a waiver or any
other rights or remedies that the Company may have.

     19.        Indemnification. Seefried shall be entitled to the fullest
                ----------------
extent permitted by law to the benefit of indemnification of the assertion
against Seefried of any liability, damages, losses or expenses, including
reasonable attorneys' fees and costs, sustained by Seefried arising out of his
performance of duties as an employee of the Company. This provision shall
survive termination of this Agreement. The Company shall add Seefried as a
covered officer under any insurance policy (including Directors' and Officers'

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insurance policies) that may be maintained by the Company covering the directors
and officers of the Company acting in their capacity as such.
The Company will use its reasonable efforts to maintain such coverage for a
period of at least two years after the termination of this Agreement.

         20.    Entire Agreement. This Agreement constitutes the entire
                ----------------
agreement between the parties hereto and there are no other terms other than
those contained herein. No variation hereof shall be deemed valid unless in
writing and signed by the parties hereto and no discharge of the terms hereof
shall be deemed valid unless by full performance of the parties hereto or by a
writing signed by the parties hereto. No waiver by the Company or Seefried of
any
breach by the other party of any provision or condition of this Agreement shall
be deemed a waiver of a breach of a similar or dissimilar provision or condition
at the same time or any prior or subsequent time. This Agreement supersedes and
controls over all previous agreements between the Company and Seefried regarding
his employment by the Company.

        21.    Severability. In case any provision in this Agreement shall be
               ------------
declared invalid, illegal or unenforceable by any court of competent
jurisdiction, the validity and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

        22.    Notices. All notices, requests, demands and other
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communications provided for by this Agreement shall be in writing and shall be
deemed to have been given at the time when mailed in the United States
enclosed in a registered or certified post-paid envelope, return receipt
requested, and addressed to the addresses of the respective parties stated below
or to such changed addresses as such parties may fix by notice:

     If to the Company:

                       Ursus Telecom Corporation
                       440 Sawgrass Corporate Parkway
                       Suite 112
                       Sunrise, Florida 33325

     If to Seefried:

                       Johannes Seefried
                       ------------------
                       ------------------

provided, however, that any notice of change of address shall be effective only
upon receipt.

      23.    Successors and Assigns. This Agreement is personal in its nature
             ----------------------
and neither of the parties hereto shall, without the consent of the other,
assign or transfer this Agreement or any rights or obligations hereunder
(except for an assignment or transfer by the Company to a successor as 
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contemplated by the following proviso); provided, however, that the provisions
                                        ------------------
hereof shall inure to the benefit of, and be binding upon, any successor of the
Company, whether by merger, consolidation, transfer of all or substantially all
of the assets of the Company, or otherwise, and upon Seefried, his heirs,
executors, administrators and legal representatives.

         24.    Governing Law. This Agreement and its validity, construction
                --------------
and performance shall be governed in all respects by the internal laws of the
State of Florida without giving effect to

any principles of conflict of laws. In any suit, action or proceeding arising
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out of or in connection with this Agreement, the prevailing party shall be
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entitled, as a part of the judgment therein, to an award of the reasonable
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attorneys' and other Professionals' fees and costs incurred in connection
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therewith.
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          25.    Headings. The headings in this Agreement are for convenience
                 ---------
of reference only and shall not control or affect the meaning or construction of
this Agreement.

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

                                      URSUS TELECOM CORPORATION

                                    By:
                                        ----------------------
                                  Name:  Luca Giussani
                                 Title: Chief Executive Officer

                                        ----------------------------
                                        Johannes SeefriedEMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT ("Agreement") is made and entered as of this 1st
day of January, 2000 by and between Ursus Telecom Corporation, a Florida
corporation ("Employer"), and Steven L. Relis ("Employee").

                                WITNESSETH:

     WHEREAS, the Employer is engaged in the operation of a telecommunications
business (the "business') and desires to employ the Employee as the Chief
Accounting Officer.

     WHEREAS, the Employee desires to accept such employment under the terms and
conditions provided herein,

     NOW, THEREFORE, in consideration of the promises, and mutual promises
hereinafter set forth, and other good and valuable consideration in hand and
received, the parties hereto hereby agree as follows:

     1.     Employment.  Upon and subject to the terms, conditions and other
            -----------
provisions of this Agreement, the Employer hereby employs the Employee and the
Employee hereby accepts employment and agrees to exercise and perform
faithfully,
exclusively and to the best of his ability on behalf of the Employer, those
duties described on the Job Description Memorandum attached hereto and made a
part hereof as Exhibit A.  Employee shall likewise perform such other duties for
Employer, or any subsidiary, affiliate, or division of the Employer  as the
Employer  may reasonably  request.

     2.     Employees Services and Duties.  During the term of this Agreement,
            -----------------------------
the Employee shall observe and conform to the policies and directions
promulgated
from time to time by the Employer and devote his full business time, energy,
ability, attention and skill to his employment hereunder.  The services to be
performed by the Employee hereunder may be changed, expanded or adjusted from
time to time at the reasonable request of the Employer, provided that such
services shall at all times be consistent with those described in Section 1
hereof.  The Employee shall perform the services contemplated under this
Agreement at such location or locations as the Employer may from time to time
reasonably direct, but, Employee shall primarily be based in Sunrise Florida.
Employee  shall, however, travel to other locations at such time as may be
appropriate for the performance of his duties and as reasonably directed by
Employer.

     3.     Term.     Unless sooner terminated or extended as provided in this
            -----
Agreement, the term of the Employees employment by the Employer pursuant to this
Agreement shall commence on January 1, 2000 and shall continue until December
31, 2000 (the "Termination Date").

     4.     Compensation and Other Matters.  As compensation in full for the
            -------------------------------
services to be rendered by the Employee hereunder, the Employer shall pay, and
the Employee shall accept, the compensation set forth in Exhibit B, which
compensation shall be subject to all applicable federal, state and local 
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withholding taxes.  Employee will not accept any rebates, "kickbacks" or other
third party payments unless all such amounts are immediately remitted in full
to Employer upon  receipt by  Employee.  Employer may elect to provide Employee
with additional benefits or compensation as Employer may determine in its sole
and absolute discretion, but, Employer shall not be obligated to provide any
such benefits or compensation to Employee during the term hereof.

     5.     Certain Business Expenses.  The Employer shall reimburse the
            --------------------------
Employee for all ordinary, necessary and reasonable expenses incurred by
Employee in the course of performing his duties and obligations hereunder and
paid by the Employee on behalf of the Employer, to the extent reasonable and
necessary in the
good faith judgment of Employer.  Such reimbursement shall be made upon the
prompt presentation by the Employee of an itemized written request for
reimbursement thereof.  The itemized request shall be supported by documentation
and be submitted on forms approved by Employer.

     6.     Covenant of Non-Disclosure.  The Employee acknowledges that,
            --------------------------
because of his employment hereunder, he will be in a confidential relationship
with the Employer and will have access to confidential information and trade
secrets of Employer concerning the Business.  The parties recognize and
acknowledge that the Business is very sophisticated and technical, and that
Employer has developed, and over the course of time, will develop, substantial
goodwill, valuable relationships with customers, trade secrets and particular
means or methods of conducting the Business, all of which are worthy of
protection.   Employee recognizes and acknowledges that during the term of his
employment with the Employer he may acquire knowledge of valuable trade secrets,
confidential matters, and proprietary information concerning the Business and
its existing and potential customers (collectively, the "Confidential
Information").  Such Confidential Information includes, without limitation,
lists of the Employer's customers and potential customers, lists of the
Employer's suppliers and potential suppliers, lists of the Employer's agents and
potential agents, information contained within the Employer's books and records,
the methods of operating the Business, information concerning the
telecommunications industry as
same relates to the Employer, the names of other business contacts of the
Employer, the Employer's pricing practices and information concerning prices at
which the Employer purchases supplies and services.  The Employee hereby agrees
to maintain the confidentiality of all Confidential Information to which
Employee is exposed while employed by the Employer and at all times thereafter,
and agrees that he will not, directly or indirectly, at any time (a) disclose
such Confidential Information to any natural or legal person (collectively,
"Persons"), other than authorized employees or agents of the Employer, for any
reason or purpose whatsoever, or (b) under any circumstances make use of any
Confidential Information for his own purposes or for the benefit of any Person
other than the Employer or its affiliates.  To this effect, Employee agrees that
none of the Employer's written Confidential Information, including, but not
limited to any printed material, material in process and customer lists or
records, may be copied or removed from the Employer's premises by Employee or
any other Person at the direction of or with the permission of Employee, unless
authorized by the Chief Executive Officer of the Employer.

     7.  Covenant of Non-Competition.
         ----------------------------

          7.1  During the term of this Agreement Employee shall not directly or
indirectly, including, without limitation, through entities he controls,
<PAGE>
<PAGE>

solely or jointly with others, (i) carry on or engage or participate in any
business the same as or substantially similar to or in competition with the
Business, (ii) render any services to or, directly or indirectly, have any
interest  (other than an interest of 5% or less of a publicly traded company) as
a shareholder, owner, partner (general or limited), agent, consultant, lender or
guarantor or any other interest, in any entity or business engaged in the
rendering of services which are similar to those rendered by Employer in its
operation of the Business, or (iii) otherwise engage in competition with the
Business.

          7.2  It is the intent of the parties hereto that this Section 7 be
enforced to the fullest extent permissible under the laws of Florida or any
other applicable jurisdiction.  Each of the parties hereto recognizes that the
duration of the covenants contained in this Section 7 are properly required for
the adequate protection of the Business being established by Employer and
Employer's conduct of the Business thereafter.  Accordingly, to the extent that
any covenant in this Section 7 or portion thereof or other provision contained
in this Section 7 shall be deemed to be illegal, unenforceable, or unreasonable
such covenant shall be reformed such that the restrictions imposed upon Employee
is equal to the maximum restriction that would be permissible under applicable
law.
Moreover, each provision of this Section 7 is intended to be severable, and in
the event that any one or more of the provisions contained in this Section 7
shall for any reason be adjudicated to be illegal, invalid or unenforceable, the
same shall not affect the legality, validity or enforceability of any other
provision of this Section 7, but this Section 7 shall be construed as if such
illegal, invalid or unenforceable provision had not been contained therein.  The
provisions of this Section 7 shall be interpreted in a reasonable manner to
effect the intentions of the parties and this Section 7.

     8. Enforcement of Covenants.  The parties hereto acknowledge that (i) the
        ------------------------
covenants and the restrictions contained in Sections 6 and 7 are necessary,
fundamental, and required for the protection of the Business; (ii) such
covenants relate to matters which are of a special, unique, and extraordinary
character that gives each of such covenants a special, unique and extraordinary
value; and (iii) a breach of any of such covenants or any other provisions of
said Sections 6 and 7 will result in loss of goodwill, other irreparable harm
and damages to the Employer which cannot be adequately compensated by a monetary
award.
Accordingly, it is expressly agreed that in addition to all other remedies
available at law or in equity, Employer shall be entitled to the immediate
remedy
of a temporary restraining order, preliminary injunction, or such other form of
injunctive or equitable relief as may be used by any court of competent
jurisdiction to restrain or enjoin any of the parties hereto from a breach or
threatened breach of any such covenants or provisions or to specifically enforce
the provisions of Sections 6 and 7.  Said remedies may be obtained without proof
of the actual damages that have been or will be caused to the Employer by such
breach.  Furthermore, nothing contained is Sections 6 and 7 , or in this Section
8 shall be construed to limit in any way the remedies of Employer whether
hereunder or under applicable law.

     9. Employee Representation and Warranty.  The Employee warrants and
        -------------------------------------
represents to the Employer, and covenants with the Employer that the execution,
delivery and performance of this Agreement by the Employee does not

<PAGE>

conflict with or violate any provision of, or constitute a default under, any
agreement, judgement, award or decree to which the Employee is a party or by
which the Employee is bound.

     10.  Death; Permanent Disability. In the event of the death of the
          ----------------------------
Employee during the term of this Agreement, this Agreement shall terminate. If
during the term of this Agreement the Employee fails because of illness or other
incapacity to perform the services required to be performed by him hereunder for
any consecutive period of more than 120 days, or for shorter periods aggregating
more than 180 days in any consecutive twelve-month period (any such illness or
incapacity being hereinafter referred to as a "permanent disability"), then the
Company, in its discretion, may at any time thereafter terminate this Agreement
upon not less than 10 days' written notice thereof to the Employee, and this
Agreement shall terminate and come to an end upon the date set forth in said
notice as if said date were the termination date of this Agreement; provided,
however, that no such termination shall be effective if prior to the date when
such notice is given, Employee's illness or incapacity shall have terminated and
he shall be physically and mentally able to perform the services required
hereunder and shall have taken up and be performing such duties.

If the Employee's employment shall be terminated by reasons of his death or
permanent disability, the Employee or his estate, as the case may be, shall be
entitled to receive (i) any earned and unpaid salary accrued through the date of
termination, (ii) subject to the terms thereof, any benefits which may be due to
the Employee on the date of termination under the provisions of any employee
benefit plan, program or policy.

     11. Termination for Cause. The Company may at any time during the term of
         ---------------------
this Agreement, by written notice, terminate the employment of the Employee for
cause, the cause to be specified in the notice. For purposes of this Agreement,
"cause" shall mean (i) any willful misconduct of the Employee in connection with
the performance of any of his duties hereunder, including without limitation
misappropriation of funds or property of the Company, securing or attempting to
secure personally any profit in connection with any transaction entered into on
behalf of the Company or any willful and intentional act having the effect of
injuring the reputation, business or business relationships of the Company; (ii)
willful failure, neglect or refusal to perform material duties hereunder that is
not cured within 20 days after the Company notifies Relis thereof; (iii) breach
of any material covenants contained in this Agreement that is not cured within
20 days after the Company notifies the Employee thereof; and (iv) conviction (or
nolo contendere plea) in connection with a felony relating in any way to the
business or affairs of the Company, or which would be required to be
disclosed in
any filing or report with the U.S. Securities and Exchange Commission. The
determination of whether "cause" exists shall only be made at a meeting of the
Board of Directors of which the Employee receives notice and an opportunity to
address the Board on such matter. Termination for cause shall be effective upon
the giving of such notice and the Employee shall be entitled to receive (i) any
earned and unpaid salary accrued through the date of termination and (ii)
subject
to the terms thereof, any benefits which may be due to the Employee on such date
under the provisions of any employee benefit plan, program or policy. Employee
hereby disclaims any right to receive a pro rata portion of any annual bonus
with
respect to the fiscal year in which such termination occurs.
<PAGE>

     12. Resignation for Good Reason. Employee may at any time during the term
         ---------------------------
of this Agreement, by written notice, terminate his employment for good reason,
the reason to be specified in the notice. For purposes of this Agreement, "good
reason" shall exist if (i) the Company materially fails to comply with any of
the provisions of this Agreement, other than isolated, insubstantial or
inadvertent failures not occurring in bad faith and which are remedied by the
Company promptly after receipt of notice thereof given by the Employee, or
(ii) the Company shall diminish the Employee's title, duties, base salary or
benefits.

     13. Payments Upon Termination. If during the term of this Agreement,
         --------------------------
employment is terminated (i) by the Company without "cause" or (ii) by Employee
for any "good reason," the Company shall pay to the Employee the Base Salary at
the rate in effect at the time notice of termination is given and other rights
and benefits the Employee may have under employee benefits plans and programs of
the Company in existence as of the date of such termination, all for the greater
of (x) the balance of the term of this Agreement or (y) the six month period
following the date of such termination.

     14. Payments Upon Change of Control. During the term of this Agreement, if
there is a Change of Control (as hereinafter defined) and the Company takes any
action which would entitle The Employee to terminate his employment for "good
reason," as such term is defined in Section 13 hereof (a "Triggering Event"),
then the Employee may at his election, at any time during the remainder of this
Agreement, terminate this Agreement (a "Voluntary Termination"), and the
Employee
shall be entitled to the following compensation, in addition to the other
compensation provided for herein:

     (a)      in lieu of any further salary payments to the Employee for periods
subsequent to the date of Voluntary Termination, the Company shall pay as
severance payment to the Employee, no later than the fifth day following the
date of Voluntary Termination, a lump-sum severance payment of one years' base
compensation.

     (b)      the Company shall provide the Employee with all employee benefits
and programs of the Company which the Employee was entitled to receive or
participate in immediately prior to the effective date of the Voluntary
Termination for the twelve month period following the date of such Voluntary
Termination.

     (c)       All unvested stock options held by the employee shall become
immediately vested.

For the purposes of this Agreement, "Change of Control" shall mean the
occurrence of any of the following events:

                (i)     any "person" or "group" (as such terms are used under
Sections 13(d) and 14(d) of the Securities & Exchange Act of 1934, as amended
("Exchange Act"), whether or not such Sections are applicable) is or becomes,
whether by means of any issuance or direct or indirect transfer of securities,
merger, consolidation, liquidation, dissolution or otherwise, the "beneficial
owner" (as that term is used under Rules 13d-3 and 13d-5 under the Exchange Act,
whether or not such rules are applicable, except that a "person" or
<PAGE>
<PAGE>

"group" shall be deemed to have "beneficial ownership" of all shares that he or
it has the right to acquire, whether such right is exercisable immediately or
only after the passage of time or otherwise), directly or indirectly through one
or more intermediaries, of 35% or more of the total voting power represented by
all of the voting stock of the Company; or

          (ii)      directly or indirectly, a transfer, sale, lease or other
disposition of all or substantially all of the assets of the Company and its
subsidiaries taken as a whole to any "person" or "group" (as such terms are used
in Sections 13(d) and 14(d) of the Exchange Act, whether or not such sections
are applicable), excluding any disposition to or among the Company and or one or
more of its subsidiaries; or

           (iii)      any "person" or "group" (as such terms are used under
Sections 13(d) and 14(d) of the Exchange Act, whether or not such sections are
applicable) otherwise obtains the right or power (through any arrangement,
contract, proxy or other means) to elect or designate a majority of the members
of the Board of Directors of the Company then in office, without regard to
whether such right or power is exercised or invoked and without taking into
account the necessity of a special or annual stockholders meeting or the taking
of other procedural actions to exercise or invoke such right or power.

     15. Notice of Intent. Both Parties agree that it is in their mutual best
interest to provide 120 days of written notice in the event that either the
Employer or Employee intends not to renew this contract. If no written notice of
such intent is received, then this contract shall remain in force until a notice
is received and then for a period of 120 days subsequent to receipt of that
written notice.

    16.  Notices.  All notices, requests, demands, communications, statements or
other documents which one party shall be required or shall desire to give to
another hereunder shall be in writing and shall be given by the parties by
personal delivery, by nationally recognized overnight courier, or by certified
mail, return receipt requested, with all postage or other charges prepaid.  Each
such notice, demand, communication, statement, or other document shall, be
conclusively deemed to have been given when personally delivered by hand or by
courier, or seventy-two (72) hours after the date of mailing, as the case may
be.  The addresses  of the parties shall be the following until such time as
written notice of any change is provided to either party as aforesaid.

     If to the Employer:     Ursus Telecom Corporation
                             440 Sawgrass Corporate Parkway
                             Suite 112
                             Sunrise, Florida  33325
                             Attention:  CEO / PRESIDENT

     If to the Employee:     Mr. Steven Relis
                             19515 Saturnia Lakes Drive
                             Boca Raton, Florida 33498

<PAGE>
<PAGE>

     17.  Headings.  The headings herein are for convenience only, do not
constitute a part of this Agreement, and shall not be deemed to limit or affect
any of the provisions hereof.

     18.  Entire Understanding.  This Agreement constitutes the entire agreement
and understanding between the parties with respect to the employment of the
Employee by the Employer, and supersedes all prior agreements, representations
and understandings, both written and oral, between the parties hereto with
respect to the subject matter hereof.

     19.  Amendments.  This Agreement may not be modified or changed except by a
written instrument signed by all of the parties hereto.

     20.  Governing Law.  This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of Florida.

     21.  Assignment.  This Agreement shall not be assigned or assignable by
operation of law or otherwise, without the prior written consent of the other
party, except that, without such consent from Employee, Employer may assign this
Agreement or any interest therein, by operation of law or otherwise, to any
successor to all or substantially all of its stock or assets, or any direct or
indirect subsidiary.

     22.  Severability.  If any provision of this Agreement shall be deemed
invalid, unenforceable or illegal, then notwithstanding such invalidity,
unenforceability or illegality the remainder of this Agreement shall continue in
full force and effect.

<PAGE>
<PAGE>

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

                                   EMPLOYEE:

                                   -----------------------------

                                   EMPLOYER:

                                   -----------------------------

                                   URSUS TELECOM  CORPORATION

                                   By:
                                      ---------------------------
                                       Title:
                                             --------------------

<PAGE>
<PAGE>
                                  EXHIBIT A

JOB DESCRIPTION MEMORANDUM

Employee shall be employed as the Company's Chief Accounting Officer, which
shall include but shall not be limited to the following duties:

Supervise the Company's Accounting Department.

Responsible for developing, implementing and maintaining accounting policies, as
necessary.

Responsible for the timely filings of all financial statements in accordance
with generally accepted accounting principals.

Responsible for the timely filings of compliance forms with the Securities and
Exchange Commission.

<PAGE>
<PAGE>

EXHIBIT B

COMPENSATION

Employee shall be compensated at the rate of Ninety Five Thousand dollars
($95,000) per year payable in 26 installments of $3,653.85, exclusive of any
bonuses that may be awarded on a discretionary basis. Further on April 1, 2000
the above salary will be adjusted to reflect an annual review by the
compensation committee.

Employee shall be entitled to such other benefits as are offered on a non-
discriminatory basis to others on a group basis such as life, health, disability
insurance and retirement.

Employee shall be awarded options for 12,000 shares (in accordance with the
Company's 1998 Stock Incentive Plan, a copy of which has been delivered to
Employee), at a strike price equal to the UTCC closing price on October 20,
1999.  The Grant Date is October 20, 1999 with a vesting date 12 months after
the grant date, and an exercise date 90 days after the vesting date.

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