Document:

<Page>

                                                                   Exhibit 10.64

                                                                  EXECUTION COPY

                               SECURITY AGREEMENT

          This Security Agreement (this "Agreement") is made as of the 18th DAY
OF JUNE, 2004, by and between IBASIS SECURITIES CORPORATION, a Massachusetts
corporation with its principal place of business at 20 Second Avenue,
Burlington, Massachusetts 01803 ("Grantor"), and THE BANK OF NEW YORK, a New
York banking corporation, as Collateral Agent for the Holders (as defined in the
Indenture referred to below), with its principal place of business at 101
Barclay Street, Floor 810, New York, New York 10286 ("Secured Party").

                                    RECITALS

          A.      Pursuant to that certain Indenture (as the same may be amended
or supplemented from time to time, the "Indenture"), dated June 18, 2004, by and
among IBASIS, Inc. (the "Company"), the Grantor, the other subsidiary guarantors
named therein and The Bank of New York, as Trustee (the "Trustee), the Company
has issued its 8% Senior Subordinated Convertible Notes due 2007 ("Notes") in an
aggregate principal amount not to exceed $29,000,000. The Notes are secured in
part pursuant to the terms of the Security Documents (as defined in the
Indenture), and this Agreement is one of the Security Documents. Grantor is a
Wholly Owned Subsidiary (as defined in the Indenture) of IBASIS, Inc. and will
receive a substantial and material benefit from the transactions contemplated by
the Indenture and this Agreement.

          B.      In accordance with the terms of the Indenture, Grantor desires
to grant Secured Party a Lien (as defined in the Indenture) upon the Collateral
(hereinafter defined).

          C.      Unless otherwise indicated herein, capitalized terms not
defined herein shall have the same meaning as those provided in the Indenture.

                                    AGREEMENT

          The parties agree as follows:

    1.    CREATION OF SECURITY INTEREST

          1.1     GRANT OF SECURITY INTEREST. Grantor grants to Secured Party,
for the benefit of the Holders, the Trustee and the Secured Party, a security
interest in the property described in EXHIBIT A attached hereto (the
"Collateral") to secure any and all liabilities and obligations to the Holders,
the Trustee and the Secured Party under the Notes and the Indenture (the
"Indebtedness"). Such security interest constitutes a priority security
interest, subject only to the Senior Indebtedness, in the presently existing
Collateral, and in Collateral acquired after the date hereof.

          1.2     FINANCING STATEMENTS. This Agreement constitutes an
authenticated record which authorizes the Secured Party to file such financing
statements as Secured Party reasonably determines appropriate. Without limiting
the generality of the foregoing, Grantor hereby expressly authorizes Secured
Party to file financing statements without notice to Grantor, with all
appropriate jurisdictions, as Secured Party in its reasonable discretion deems
appropriate from

<Page>

time to time, in order to further perfect, protect, or vest more securely
Secured Party's interest in the Collateral.

          1.3     DELIVERY OF ADDITIONAL DOCUMENTATION REQUIRED. Grantor shall
from time to time execute and deliver to Secured Party, at the request of
Secured Party, all financing statements and other documents that Secured Party
may reasonably request, in form satisfactory to Secured Party, to perfect and
continue perfected Secured Party's security interests in the Collateral and in
order to fully consummate all of the transactions contemplated under the
Indenture.

    2.    REPRESENTATIONS AND WARRANTIES

          Grantor represents and warrants as follows:

          2.1     DUE ORGANIZATION AND QUALIFICATION. Grantor is a corporation
duly existing and in good standing under the laws of its state of incorporation
and qualified and licensed to do business in, and is in good standing in, any
state in which the conduct of its business or its ownership of property requires
that it be so qualified. Grantor represents and warrants that its legal name,
type of organization, jurisdiction or incorporation, organizational
identification number and place of business are indicated on Schedule 1 attached
hereto. Grantor shall not, without at least thirty (30) days prior written
notice to Secured Party: (a) relocate its chief executive office, or add any new
offices or business locations, or (b) change its jurisdiction of organization,
or (c) change its organizational structure or type, or (d) change its legal
name, or (e) change any organizational number (if any) assigned by its
jurisdiction of organization.

          2.2     DUE AUTHORIZATION; NO CONFLICT. The execution, delivery, and
performance of this Agreement are within Grantor's powers, have been duly
authorized, and are not in conflict with nor constitute a breach of any
provision contained in Grantor's organizational documents, nor will they
constitute an event of default under any material agreement to which Grantor is
a party or by which Grantor is bound.

          2.3     NO PRIOR ENCUMBRANCES. Grantor has good and indefeasible title
to the Collateral, free and clear of any liens, security interests, or other
encumbrances other than the Liens permitted by the Indenture.

          2.4     NO INTELLECTUAL PROPERTY. Grantor holds no interest in any
trade secret, copyright, patent or other intellectual property.

    3.    AFFIRMATIVE COVENANTS

          Grantor covenants and agrees that, until payment in full of all
outstanding obligations and liabilities under the Indebtedness and this
Agreement, Grantor shall do all of the following:

          3.1     GOOD STANDING. Grantor shall maintain its corporate existence
and its good standing in its jurisdiction of incorporation and maintain
qualification in each jurisdiction in which the failure to so qualify could have
a material adverse effect on Grantor's business.

                                        2
<Page>

Grantor shall maintain in force all licenses, approvals and agreements, the loss
of which could have a material adverse effect on Grantor's business.

          3.2     GOVERNMENT COMPLIANCE. Grantor shall comply with all statutes,
laws, ordinances and government rules and regulations to which it is subject,
noncompliance with which could have a material adverse effect on Grantor's
business.

          3.3     INSURANCE.

                  (a)    Grantor, at its expense, shall keep the Collateral
insured against loss or damage by fire, theft, explosion, sprinklers, and all
other hazards and risks, and in such amounts, as ordinarily insured against by
other owners in similar businesses conducted in the locations where Grantor's
business is conducted on the date hereof. Grantor shall also maintain insurance
relating to Grantor's ownership and use of the Collateral in amounts and of a
type that are customary to businesses similar to Grantor's.

                  (b)    All such policies of insurance shall be in such form,
with such companies, and in such amounts as reasonably satisfactory to Secured
Party. From and after such time as the Senior Indebtedness has been indefeasibly
repaid, in full, in cash, and all commitments thereunder have been terminated,
all such policies of property insurance shall contain a lender's loss payable
endorsement, in a form satisfactory to Secured Party, showing Secured Party as
an additional loss payee thereof and all liability insurance policies shall show
the Secured Party as an additional insured, and shall specify that the insurer
must give at least twenty (20) days notice to Secured Party before canceling its
policy for any reason.

          3.4     INTELLECTUAL PROPERTY. So long as any liability under the
Notes or the Indenture remains outstanding, Grantor shall notify the Secured
Party if Grantor should acquire any interest in any trade secret, copyright,
patent or other intellectual property, which notice shall be sent by Grantor
within forty-five (45) days of Grantor's acquisition of such interest.

    4.    NEGATIVE COVENANTS

          Except as permitted by the Indenture, Grantor covenants and agrees
that until payment in full of all outstanding obligations and liabilities under
the Indebtedness and this Agreement, Grantor will not do any of the following:

          4.1     DISPOSITIONS. Convey, sell, lease, transfer or otherwise
dispose of (collectively, a "Transfer"), all or any part of the Collateral other
than (a) Transfers in the ordinary course of business; (b) Transfers of
non-exclusive licenses and similar arrangements for the use of the Collateral;
or (c) Transfers of worn-out or obsolete Collateral.

          4.2     MERGERS OR ACQUISITIONS. Merge or consolidate, or permit any
of its subsidiaries to merge or consolidate, with any other Person, or acquire,
or permit any of its Subsidiaries to acquire, all or substantially all of the
capital stock or property of another Person.

          4.3     INDEBTEDNESS. Create, incur, assume, or be liable for any
Indebtedness, or permit any Subsidiary to do so, other than indebtedness subject
to a subordination agreement between the Secured Party and the holder of such
indebtedness ("Subordinated Debt").

                                        3
<Page>

          4.4     ENCUMBRANCE. Create, incur, or allow any Lien on any of its
property, or assign or convey any right to receive income, including the sale of
any receivables, or permit any of its Subsidiaries to do so, or permit any
Collateral not to be subject to Secured Party's security interest.

          4.5     INVESTMENTS; DISTRIBUTIONS. Directly or indirectly acquire or
own any Person, or make any Investments in any Person, other than investments
permitted in writing by Secured Party, or permit any of its Subsidiaries to do
so; or (b) pay any dividends or make any distribution or payment or redeem,
retire or purchase any capital stock (except for dividends payable solely in
stock of Grantor).

          4.6     TRANSACTIONS WITH AFFILIATES. Directly or indirectly enter or
permit any material transaction with any Affiliate, except transactions that are
in the ordinary course of Grantor's business, on terms no less favorable to
Grantor than would be obtained in an arm's length transaction with a
non-affiliated Person.

          4.7     SUBORDINATED DEBT. Make or permit any payment on any
subordinated debt, except under the terms of the Subordinated Indebtedness, or
amend any material provision in any document relating to the Subordinated
Indebtedness, without Secured Party's prior written consent.

          4.8     COMPLIANCE. Undertake as one of its important activities
extending credit to purchase or carry margin stock, or use the proceeds of any
advance for that purpose; fail to comply with the Federal Fair Labor Standards
Act or violate any other law or regulation, if the violation could reasonably be
expected to have a material adverse effect on Grantor's business or operations,
or permit any of its Subsidiaries to do so.

    5.    EVENTS OF DEFAULT

          Any one or more of the following events shall constitute an Event of
Default by Grantor under this Agreement:

          5.1     INDENTURE.  If an Event of Default occurs under the Indenture.

          5.2     COVENANT DEFAULT. Grantor does not perform any obligation in
Article 3 or violates any covenant in Article 4 or does not perform or observe
any other material term, condition or covenant in this Agreement, and the
continuance of such failure for a period of 45 days after the date on which
written notice of such failure, requiring the Grantor to remedy the same, shall
have been given to Grantor and a Responsible Officer of the Trustee by the
holders of at least 25% of aggregate principal amount of the outstanding Notes
at the time outstanding determined in accordance with Section 9.4 of the
Indenture.

          5.3     MATERIAL ADVERSE CHANGE. A material impairment in the
perfection or priority of Secured Party's security interest in the Collateral.

          5.4     ATTACHMENT. (a) Any material portion of Grantor's assets is
attached, seized, levied on, or comes into possession of a trustee or receiver
and the attachment, seizure or levy is not removed in thirty (30) days; (b) a
judgment or other claim becomes a Lien on a

                                        4
<Page>

material portion of Grantor's assets; or (c) a notice of lien, levy, or
assessment is filed against a material portion of Grantor's assets by any
government agency and not paid or contested in good faith in compliance with all
appropriate procedures within thirty (30) days after Grantor receives notice.
These are not Events of Default if stayed or if a bond is posted pending contest
by Grantor.

          5.5     MISREPRESENTATIONS. If Grantor or any Person acting for
Grantor makes any material misrepresentation or material misstatement now or
later in any warranty or representation in this Agreement or in any
communication delivered to Secured Party or to induce Secured Party to enter
this Agreement.

          5.6     SECURED PARTY'S RIGHTS AND REMEDIES

          5.7     RIGHTS AND REMEDIES. Subject to the subordination provisions
contained in the Intercreditor Agreement and Article 4 of the Indenture, upon
the occurrence and during the continuance of an Event of Default, Secured Party
may, at its election, without notice of its election and without demand, do any
one or more of the following, all of which are authorized by Grantor:

                  (a)    Exercise all rights available to it under the New York
Uniform Commercial Code and applicable law;

                  (b)    Set off and apply to the obligations any and all (a)
balances and deposits of Grantor held by Secured Party, or (b) indebtedness at
any time owing to or for the credit or the account of Grantor held by Secured
Party; and

                  (c)    Sell the Collateral at either a public or private sale,
or both, by way of one or more contracts or transactions, for cash or on terms,
in such manner and at such places (including Grantor's premises) as Secured
Party reasonably determines is commercially reasonable.

          5.8     REMEDIES CUMULATIVE. Secured Party's rights and remedies under
this Agreement, and all other agreements shall be cumulative. Secured Party
shall have all other rights and remedies not inconsistent herewith as provided
under the New York Uniform Commercial Code, by law, or in equity. No exercise by
Secured Party of one right or remedy shall be deemed an election, and no waiver
by Secured Party of any Event of Default on Grantor's part shall be deemed a
continuing waiver. No delay by Secured Party shall constitute a waiver,
election, or acquiescence by it.

          5.9     DEMAND; PROTEST. Except as set forth herein, Grantor waives
demand, protest, notice of protest, notice of default or dishonor, notice of
payment and nonpayment, notice of any default, nonpayment at maturity, release,
compromise, settlement, extension, or renewal of accounts, documents,
instruments, chattel paper, and guarantees at any time held by Secured Party on
which Grantor may in any way be liable.

                                        5
<Page>

    6.    CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER

          The laws of the State of New York shall apply to this Agreement.
GRANTOR ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,
UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT OF
COMPETENT JURISDICTION IN THE STATE OF NEW YORK IN ANY ACTION, SUIT, OR
PROCEEDING OF ANY KIND, AGAINST IT WHICH ARISES OUT OF OR BY REASON OF THIS
AGREEMENT; PROVIDED, HOWEVER, THAT IF FOR ANY REASON SECURED PARTY CANNOT AVAIL
ITSELF OF THE COURTS OF THE STATE OF NEW YORK, GRANTOR ACCEPTS JURISDICTION OF
THE COURTS AND VENUE IN THE COUNTY OF NEW YORK, NEW YORK. NOTWITHSTANDING THE
FOREGOING, THE SECURED PARTY SHALL HAVE THE RIGHT TO BRING ANY ACTION OR
PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE COURTS OR ANY OTHER
JURISDICTION WHICH THE SECURED PARTY REASONABLY DEEMS NECESSARY OR APPROPRIATE
IN ORDER TO REALIZE ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE SECURED
PARTY'S RIGHT AGAINST THE GRANTOR OR ITS PROPERTY.

          GRANTOR AND SECURED PARTY EACH HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO
A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF
THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR
STATUTORY CLAIMS. EACH PARTY RECOGNIZES AND AGREES THAT THE FOREGOING WAIVER
CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT. EACH
PARTY REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

    7.    GENERAL PROVISIONS

          7.1     SUCCESSORS AND ASSIGNS. This Agreement shall bind and inure to
the benefit of the respective successors and permitted assigns of each of the
parties; PROVIDED, HOWEVER, that neither this Agreement nor any rights hereunder
may be assigned by Grantor without Secured Party's prior written consent, which
consent may be granted or withheld in Secured Party's reasonable discretion.
Secured Party shall have the right without the consent of or notice to Grantor
to sell, transfer, negotiate, or grant participations in all or any part of, or
any interest in Secured Party's obligations, rights and benefits hereunder.

          7.2     INDEMNIFICATION. Grantor shall defend, indemnify and hold
harmless Secured Party and its officers, employees, and agents against: (a) all
loss, damage, obligations, demands, claims, liabilities and expenses claimed or
asserted by the Grantor or by any other party in connection with the
transactions contemplated by this Agreement; and (b) all reasonable losses or
Secured Party's expenses in any way suffered, incurred, or paid by Secured Party
as a result of or in any way arising out of, following, or consequential to
transactions between Secured Party and Grantor whether under this Agreement, or
otherwise (including without

                                        6
<Page>

limitation reasonable attorneys' fees and expenses), except for losses caused by
Secured Party's gross negligence or willful misconduct.

          7.3     RIGHT OF SET-OFF. Grantor hereby grants to Secured Party, a
lien, security interest and right of setoff as security for all obligations and
liabilities to Secured Party, whether now existing or hereafter arising upon and
against all deposits, credits, collateral and property, now or hereafter in the
possession, custody, safekeeping or control of Secured Party or any entity under
the control of the Secured Party or in transit to any of them. At any time after
the occurrence and during the continuance of an Event of Default, but subject in
all cases to the Intercreditor Agreement, without demand or notice, Secured
Party may set off the same or any part thereof and apply the same to any
liability or obligation of Grantor even though unmatured and regardless of the
adequacy of any other collateral securing the loan. ANY AND ALL RIGHTS TO
REQUIRE SECURED PARTY TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY
OTHER COLLATERAL WHICH SECURES THE LIABILITIES OF GRANTOR TO SECURED PARTY,
PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS
OR OTHER PROPERTY OF THE GRANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND
IRREVOCABLY WAIVED.

          7.4     TIME OF ESSENCE. Time is of the essence for the performance of
all obligations set forth in this Agreement.

          7.5     SEVERABILITY OF PROVISIONS. Each provision of this Agreement
shall be severable from every other provision of this Agreement for the purpose
of determining the legal enforceability of any specific provision.

          7.6     AMENDMENTS IN WRITING, INTEGRATION. This Agreement cannot be
changed or terminated orally. All prior agreements, understandings,
representations, warranties, and negotiations between the parties hereto with
respect to the subject matter of this Agreement, if any, are merged into this
Agreement.

          7.7     COUNTERPARTS. This Agreement may be executed in any number of
counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, shall be deemed to be an original, and all of
which, when taken together, shall constitute but one and the same Agreement.

          7.8     SURVIVAL. All covenants, representations and warranties made
in this Agreement shall continue in full force and effect so long as any
liabilities and obligations under the Notes, the Indenture and this Agreement
remain outstanding. The obligations of Grantor to indemnify Secured Party with
respect to the expenses, damages, losses, costs and liabilities described in
this Agreement shall survive until all applicable statute of limitations periods
with respect to actions that may be brought against Secured Party have run.

          7.9     GRANTOR WAIVERS. Grantor waives any right to require Secured
Party to (a) proceed against any Person; (b) proceed against or exhaust any
security held from any Person; (c) marshal any assets of any Person; or (d)
pursue any other remedy in Secured Party's power whatsoever. Secured Party may,
at its election, exercise or decline or fail to exercise any right or

                                        7
<Page>

remedy it may have against any Person or any security held by Secured Party,
including without limitation the right to foreclose upon any such security by
judicial or nonjudicial sale, without affecting or impairing in any way the
liability of Grantor hereunder. Grantor waives any defense arising by reason of
any disability or other defense of any Person or by reason of the cessation from
any cause whatsoever of the liability of any Person. Grantor waives any setoff,
defense or counterclaim that any Person may have against Secured Party. Grantor
waives any defense arising out of the absence, impairment or loss of any right
of reimbursement or subrogation or any other rights against any Person. Grantor
shall have no right of subrogation or reimbursement, contribution or other
rights against any Person, and Grantor waives any right to enforce any remedy
that Secured Party now has or may hereafter have against any Person. Grantor
waives all rights to participate in any security now or hereafter held by
Secured Party. Grantor waives all presentments, demands for performance, notices
of nonperformance, protests, notices of protest, notices of dishonor, and
notices of acceptance of this Agreement and of the existence, creation, or
incurring of new or additional indebtedness. Grantor assumes the responsibility
for being and keeping itself informed of the financial condition of any Person
and of all other circumstances bearing upon the risk of nonpayment of any
indebtedness or nonperformance of any obligation represented by the
Indebtedness, warrants to Secured Party that it will keep so informed, and
agrees that absent a request for particular information by Grantor, Secured
Party shall have no duty to advise Grantor of information known to Secured Party
regarding such condition or any such circumstances.

          7.10    INSOLVENCY. If any Person becomes insolvent or is adjudicated
bankrupt or files a petition for reorganization, arrangement, composition or
similar relief under any present or future provision of the United States
Bankruptcy Code, or if such a petition is filed against any Person, and in any
such proceeding some or all of any indebtedness or obligations under the
Indenture are terminated or rejected or any obligation of any Person modified or
abrogated, or if any Person's obligations are otherwise avoided for insolvency,
bankruptcy or any similar reason, Grantor agrees that Grantor's liability
hereunder shall not thereby be affected or modified and such liability shall
continue in full force and effect as if no such action or proceeding had
occurred. This Agreement shall continue to be effective or be reinstated, as the
case may be, if any payment must be returned by Secured Party upon the
insolvency, bankruptcy or reorganization of any Person, as though such payment
had not been made.

          7.11    INDENTURE CONTROLLING. In the event and to the extent of any
inconsistency or conflict between the provisions of this Agreement and those
contained in the Indenture, the provisions of the Indenture shall control.

                            [SIGNATURE PAGE FOLLOWS]

                                        8
<Page>

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

                                        ("Grantor")
                                        IBASIS SECURITIES CORPORATION
                                        By: /s/ Gordon J. VanderBrug
                                            ------------------------------------
                                        Name: Gordon J. VanderBrug
                                              ----------------------------------
                                        Title: Executive Vice President
                                               ---------------------------------

      [SIGNATURE PAGE TO IBASIS SECURITIES CORPORATION SECURITY AGREEMENT]

<Page>

                                        ("Secured Party")
                                        THE BANK OF NEW YORK
                                        By: /s/ Geovanni Barris
                                            ------------------------------------
                                        Name: Geovanni Barris
                                              ----------------------------------
                                        Title: Vice President
                                               ---------------------------------

      [SIGNATURE PAGE TO iBASIS SECURITIES CORPORATION SECURITY AGREEMENT]

<Page>

                     EXHIBIT A TO UCC-1 FINANCING STATEMENT

                             (IBASIS, Inc. - Debtor)
                     (The Bank of New York - Secured Party)

          The Collateral shall consist of all right, title and interest of
Debtor in and to the following:

          All assets, including without limitation, all goods, equipment,
inventory, contract rights or rights to payment of money, leases, license
agreements, franchise agreements, general intangibles (including payment
intangibles), accounts (including health-care receivables), documents,
instruments (including any promissory notes), chattel paper (whether tangible or
electronic), cash, deposit accounts, fixtures, letters of credit rights (whether
or not the letter of credit is evidenced by a writing), commercial tort claims,
securities and all other investment property, supporting obligations, and
financial assets, whether now owned or hereafter acquired, wherever located; and

          All Grantor's books relating to the foregoing and any and all claims,
rights and interests in any of the above and all substitutions for, additions,
attachments, accessories, accessions and improvements to and replacements,
products, proceeds and insurance proceeds of any or all of the foregoing.

<Page>

                                   SCHEDULE 1

         IDENTIFICATION OF ORGANIZATION, JURISDICTION, ETC., OF GRANTOR

Legal name: iBasis Securities Corporation

Type of organization: Corporation

Jurisdiction of incorporation: Massachusetts

Employer identification number:

Place of business: 20 Second Avenue, Burlington, MA 01803<Page>

                                                                   Exhibit 10.65

                                                                  EXECUTION COPY

                    INTELLECTUAL PROPERTY SECURITY AGREEMENT

     This Intellectual Property Security Agreement (this "IP Agreement") is made
as of the 18TH DAY OF JUNE, 2004, by and between IBASIS, INC., a Delaware
corporation with its principal place of business at 20 Second Avenue,
Burlington, Massachusetts 01803 ("Grantor"), and THE BANK OF NEW YORK, a New
York banking corporation, as Collateral Agent for the Holders (as such term is
defined in the Indenture referred to below, with its principal place of business
at 101 Barclay Street, Floor 810, New York, New York 10286 ("Secured Party").

                                    RECITALS

     A.   Pursuant to that certain Indenture (as the same may be amended or
supplemented from time to time, the "Indenture"), dated June 18, 2004, by and
among the Grantor, the subsidiary guarantor named therein and The Bank of New
York, as Trustee (the "Trustee"), Grantor has issued its 8% Senior Subordinated
Convertible Notes due 2007 ("Notes") in an aggregate principal amount not to
exceed $29,000,000. The Notes are secured in part pursuant to the terms of the
Security Documents (as defined in the Indenture), and this IP Agreement is one
of the Security Documents.

     B.   In accordance with the terms of the Indenture, Grantor desires to
grant Secured Party a Lien (as defined in the Indenture) upon the Intellectual
Property Collateral (hereinafter defined).

     NOW, THEREFORE, for good and valuable consideration, receipt of which is
hereby acknowledged and intending to be legally bound, as collateral security
for the prompt and complete payment when due of the Indebtedness (as defined
below), Grantor hereby represents, warrants, covenants and agrees as follows:

1.   GRANT OF SECURITY INTEREST. As collateral security for the prompt and
     complete payment and performance of all of Grantor's present or future
     indebtedness, obligations and liabilities to the Holders, the Trustee and
     the Secured Party under the Notes and the Indenture (hereinafter, the
     "Indebtedness"), Grantor hereby grants to the Secured Party, for the
     benefit of the Holders, the Trustee and the Secured Party, a security
     interest in all of Grantor's right, title and interest in, to and under its
     registered and unregistered intellectual property collateral (all of which
     shall collectively be called the "Intellectual Property Collateral"),
     including, without limitation, the following:

     a.   Any and all copyright rights, copyright applications, copyright
          registrations and like protections in each work or authorship and
          derivative work thereof, whether published or unpublished, registered
          or unregistered, and whether or not the same also constitutes a trade
          secret, now or hereafter existing, created, acquired or held,
          including without limitation those set forth on EXHIBIT A attached
          hereto (collectively, the "Copyrights");

     b.   Any and all trade secret rights, including any rights to unpatented
          inventions, know-how, operating manuals, license rights and
          agreements, and confidential information, and any and all intellectual
          property rights in computer software and computer software products
          now or hereafter existing, created, acquired or held;

<Page>

     c.   Any and all design rights which may be available to Grantor now or
          hereafter existing, created, acquired or held;

     d.   All patents, patent applications and like protections including,
          without limitation, improvements, divisions, continuations, renewals,
          reissues, extensions and continuations-in-part of the same, including
          without limitation the patents and patent applications set forth on
          EXHIBIT B attached hereto (collectively, the "Patents");

     e.   Any trademark and service mark rights, slogans, trade dress, and
          tradenames, trade styles, whether registered or not, applications to
          register and registrations of the same and like protections, and the
          entire goodwill of the business of Grantor connected with and
          symbolized by such trademarks, including without limitation those set
          forth on EXHIBIT C attached hereto (collectively, the "Trademarks");

     f.   All mask works or similar rights available for the protection of
          semiconductor chips, now owned or hereafter acquired, including,
          without limitation those set forth on EXHIBIT D attached hereto
          (collectively, the "Mask Works");

     g.   Any and all claims for damages by way of past, present and future
          infringements of any of the rights included above, with the right, but
          not the obligation, to sue for and collect such damages for said use
          or infringement of the intellectual property rights identified above;

     h.   All licenses or other rights to use any of the Copyrights, Patents,
          Trademarks, or Mask Works and all license fees and royalties arising
          from such use to the extent permitted by such license or rights,
          including, without limitation those set forth on EXHIBIT E attached
          hereto; and

     i.   All amendments, extensions, renewals and extensions of any of the
          Copyrights, Trademarks, Patents, or Mask Works; and

     j.   All proceeds and products of the foregoing, including without
          limitation all payments under insurance or any indemnity or warranty
          payable in respect of any of the foregoing.

2.   AUTHORIZATION AND REQUEST. Grantor authorizes and requests that the
     Register of Copyrights and the Commissioner of Patents and Trademarks
     record this IP Agreement, or a copy thereof.

3.   COVENANTS AND WARRANTIES. Grantor represents, warrants, covenants and
     agrees as follows:

     a.   Grantor is now the sole owner of the Intellectual Property Collateral,
          except for non-exclusive licenses granted by Grantor to its customers
          in the ordinary course of business.

                                        2
<Page>

     b.   Performance of this IP Agreement does not conflict with or result in a
          breach of any material agreement to which Grantor is bound.

     c.   During the term of this IP Agreement, except as otherwise permitted by
          the Indenture, Grantor will not transfer or otherwise encumber any
          interest in the Intellectual Property Collateral, except for
          non-exclusive licenses granted by Grantor in the ordinary course of
          business or as set forth in this IP Agreement;

     d.   To its knowledge, each of the Patents is valid and enforceable, and no
          part of the Intellectual Property Collateral has been judged invalid
          or unenforceable, in whole or in part, and no claim has been made that
          any part of the Intellectual Property Collateral violates the rights
          of any third party;

     e.   Grantor shall promptly advise Secured Party of any material adverse
          change in the composition of the Collateral, including but not limited
          to any subsequent ownership right of the Grantor in or to any
          Trademark, Patent, Copyright, or Mask Work specified in this IP
          Agreement;

     f.   Grantor shall (a) protect, defend and maintain the validity and
          enforceability of the Trademarks, Patents, Copyrights, and Mask Works,
          (b) use its best efforts to detect infringements of the Trademarks,
          Patents, Copyrights, and Mask Works and promptly advise Secured Party
          in writing of material infringements detected and (c) not allow any
          Trademarks, Patents, Copyrights, or Mask Works to be abandoned,
          forfeited or dedicated to the public without the written consent of
          Secured Party, which shall not be unreasonably withheld, unless
          Grantor determines that reasonable business practices suggest that
          abandonment is appropriate.

     g.   Grantor shall take such further actions as Secured Party may
          reasonably request from time to time to perfect or continue the
          perfection of Secured Party's interest in the Intellectual Property
          Collateral;

     h.   This IP Agreement creates, and in the case of after acquired
          Intellectual Property Collateral, this IP Agreement will create at the
          time Grantor first has rights in such after acquired Intellectual
          Property Collateral, in favor of Secured Party for the benefit of the
          Holders, the Trustees and the Secured Party a valid and perfected
          second priority security interest and collateral assignment in the
          Intellectual Property Collateral in the United States securing the
          payment and performance of the obligations evidenced by the Indenture;

     i.   To its knowledge, except for, and upon, the filing of UCC financing
          statements, or other notice filings or notations in appropriate filing
          offices, if necessary to perfect the security interests created
          hereunder, no authorization, approval or other action by, and no
          notice to or filing with, any U.S. governmental authority or U.S.
          regulatory body is required either (a) for the grant by Grantor of the
          security interest granted hereby, or for the execution, delivery or
          performance of

                                        3
<Page>

          this IP Agreement by Grantor in the U.S. or (b) for the perfection in
          the United States or the exercise by Secured Party of its rights and
          remedies thereunder;

     j.   All information heretofore, herein or hereafter supplied to Secured
          Party by or on behalf of Grantor with respect to the Intellectual
          Property Collateral is accurate and complete in all material respects.

     k.   Except as otherwise permitted by the Indenture, Grantor shall not
          enter into any agreement that would materially impair or conflict with
          Grantor's obligations hereunder without Secured Party's prior written
          consent, which consent shall not be unreasonably withheld. Grantor
          shall not permit the inclusion in any material contract to which it
          becomes a party of any provisions that could or might in any way
          prevent the creation of a security interest in Grantor's rights and
          interest in any property included within the definition of the
          Intellectual Property Collateral acquired under such contracts.

     l.   Upon any executive officer of Grantor obtaining actual knowledge
          thereof, Grantor will promptly notify Secured Party in writing of any
          event that materially adversely affects the value of any material
          Intellectual Property Collateral, the ability of Grantor to dispose of
          any material Intellectual Property Collateral of the rights and
          remedies of Secured Party in relation thereto, including the levy of
          any legal process against any of the Intellectual Property Collateral.

4.   SECURED PARTY'S RIGHTS. Secured Party shall have the right, but not the
     obligation, to take, at Grantor's sole expense, any actions that Grantor is
     required under this IP Agreement to take but which Grantor fails to take,
     after forty-five (45) days' notice to Grantor. Grantor shall reimburse and
     indemnify Secured Party for all reasonable costs and reasonable expenses
     incurred in the reasonable exercise of its rights under this section 4.

5.   INSPECTION RIGHTS. Grantor hereby grants to Secured Party and its
     employees, representatives and agents the right to visit, during reasonable
     hours upon prior reasonable written notice to Grantor, any of Grantor's
     plants and facilities that manufacture, install or store products (or that
     have done so during the prior six-month period) that are sold utilizing any
     of the Intellectual Property Collateral, and to inspect the products and
     quality control records relating thereto upon reasonable written notice to
     Grantor and as often as may be reasonably requested, but not more than once
     in every six (6) months; provided, however, nothing herein shall entitle
     Secured Party access to Grantor's trade secrets and other proprietary
     information.

6.   FURTHER ASSURANCES; ATTORNEY IN FACT.

     a.   On a continuing basis, Grantor will, upon request by Secured Party,
          subject to any prior licenses, encumbrances and restrictions and
          prospective licenses, make, execute, acknowledge and deliver, and file
          and record in the proper filing and recording places in the United
          States, all such instruments, including appropriate financing and
          continuation statements and collateral agreements and filings with the
          United States Patent and Trademarks Office and the Register of
          Copyrights,

                                        4
<Page>

          and take all such action as may reasonably be deemed necessary or
          advisable, or as requested by Secured Party, to perfect Secured
          Party's security interest in all Copyrights, Patents, Trademarks, and
          Mask Works and otherwise to carry out the intent and purposes of this
          IP Agreement, or for assuring and confirming to Secured Party the
          grant or perfection of a security interest in all Intellectual
          Property Collateral.

     b.   In addition to section 6(a) above, Grantor shall not register any of
          its Copyrights or Mask Works with the Register of Copyrights without
          first executing and simultaneously registering an IP Agreement, in the
          identical form of this IP Agreement, with the Register of Copyrights,
          listing such Copyrights(s) on Exhibit A thereto and/or such Mask Works
          on Exhibit D in order to protect and perfect Secured Party's security
          interest in such Copyrights or Mask Works. Promptly after such
          registration, Grantor shall forward to the Secured Party, at the
          address listed above, a copy of, and the original IP Agreement as
          filed with the Register of Copyrights.

     c.   Grantor hereby irrevocably appoints Secured Party as Grantor's
          attorney-in-fact, with full authority in the place and stead of
          Grantor and in the name of Grantor, Secured Party or otherwise, from
          time to time in Secured Party's discretion, upon Grantor's failure or
          inability to do so, to take any action and to execute any instrument
          which Secured Party may deem necessary or advisable to accomplish the
          purposes of this IP Agreement, including:

          i.      To modify, in its sole discretion, this IP Agreement without
                  first obtaining Grantor's approval of or signature to such
                  modification by amending Exhibit A, Exhibit B, Exhibit C, and
                  Exhibit D hereof, as appropriate, to include reference to any
                  right, title or interest in any Copyrights, Patents,
                  Trademarks or Mask Works acquired by Grantor after the
                  execution hereof or to delete any reference to any right,
                  title or interest in any Copyrights, Patents, Trademarks, or
                  Mask Works in which Grantor no longer has or claims any right,
                  title or interest; and

          ii.     To file, in its sole discretion, one or more financing or
                  continuation statements and amendments thereto, relative to
                  any of the Intellectual Property Collateral without the
                  signature of Grantor where permitted by law.

          iii.    Grantor hereby authorizes Secured Party to file financing
                  statements without notice to Grantor with all appropriate
                  jurisdictions, as Secured Party deems appropriate, in order to
                  further perfect or protect Secured Party's interest in the
                  Intellectual Property Collateral.

7.   EVENTS OF DEFAULT. The occurrence of any of the following shall constitute
     an Event of Default under this IP Agreement:

     a.   An Event of Default occurs under the Indenture; or

                                        5
<Page>

     b.   Grantor breaches any material warranty or agreement made by Grantor in
          this IP Agreement.

8.   REMEDIES. Subject to the Intercreditor Agreement and the subordination
     provisions contained in Section 4 of the Indenture, upon the occurrence and
     continuance of an Event of Default, Secured Party shall have the right to
     exercise all the remedies of a secured party under the New York Uniform
     Commercial Code, including without limitation the right to require Grantor
     to assemble the Intellectual Property Collateral and any tangible property
     in which Secured Party has a security interest and to make it available to
     Secured Party at a place designated by Secured Party. Secured Party shall
     have a nonexclusive, royalty free license to use the Copyrights, Patents,
     Trademarks, and Mask Works to the extent reasonably necessary to permit
     Secured Party to exercise its rights and remedies upon the occurrence of an
     Event of Default. Grantor will pay any expenses (including reasonable
     attorney's fees) incurred by Secured Party in connection with the exercise
     of any of Secured Party's rights hereunder, including without limitation
     any expense incurred in disposing of the Intellectual Property Collateral.
     All of Secured Party's rights and remedies with respect to the Intellectual
     Property Collateral shall be cumulative.

9.   INDEMNITY. Grantor agrees to defend, indemnify and hold harmless Secured
     Party and its officers, employees, and agents against: (a) all obligations,
     demands, claims, and liabilities claimed or asserted by any other party in
     connection with the transactions contemplated by this IP Agreement, and (b)
     all losses or expenses in any way suffered, incurred, or paid by Secured
     Party as a result of or in any way arising out of, following or
     consequential to transactions between Secured Party and Grantor, whether
     under this IP Agreement or otherwise (including without limitation,
     reasonable attorneys fees and reasonable expenses), except for losses
     arising from or out of Secured Party's gross negligence or willful
     misconduct.

10.  TERMINATION. At such time as all amounts owed under the Indenture, all
     principal and interest under the Notes and all amounts under the Security
     Documents have been indefeasibly paid in full, at Grantor's request and
     sole expense, Secured Party shall execute and deliver to Grantor all
     releases, terminations, and other instruments as may be necessary or proper
     to release the security interest hereunder.

11.  COURSE OF DEALING. No course of dealing, nor any failure to exercise, nor
     any delay in exercising any right, power or privilege hereunder shall
     operate as a waiver thereof.

12.  AMENDMENTS. This IP Agreement may be amended only by a written instrument
     signed by both parties hereto.

13.  COUNTERPARTS. This IP Agreement may be executed in two or more
     counterparts, each of which shall be deemed an original but all of which
     together shall constitute the same instrument.

14.  LAW AND JURISDICTION. This IP Agreement shall be governed by and construed
     in accordance with the laws of the State of New York. GRANTOR ACCEPTS FOR

                                        6
<Page>

     ITSELF AND IN CONNECTION WITH ITS PROPERTIES, UNCONDITIONALLY, THE
     NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT OF COMPETENT
     JURISDICTION IN THE STATE OF NEW YORK IN ANY ACTION, SUIT, OR PROCEEDING OF
     ANY KIND, AGAINST IT WHICH ARISES OUT OF OR BY REASON OF THIS AGREEMENT;
     PROVIDED, HOWEVER, THAT IF FOR ANY REASON SECURED PARTY CANNOT AVAIL ITSELF
     OF THE COURTS OF THE STATE OF NEW YORK, GRANTOR ACCEPTS JURISDICTION OF THE
     COURTS AND VENUE IN NEW YORK COUNTY, NEW YORK. NOTWITHSTANDING THE
     FOREGOING, THE SECURED PARTY SHALL HAVE THE RIGHT TO BRING ANY ACTION OR
     PROCEEDING AGAINST THE GRANTOR OR ITS PROPERTY IN THE COURTS OF ANY OTHER
     JURISDICTION WHICH THE SECURED PARTY DEEMS NECESSARY OR APPROPRIATE IN
     ORDER TO REALIZE ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE SECURED
     PARTY'S RIGHTS AGAINST THE GRANTOR OR ITS PROPERTY. GRANTOR AND SECURED
     PARTY EACH HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY
     CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS IP AGREEMENT AND
     ANY OF THE SECURITY DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED
     THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND
     ALL OTHER COMMON LAW OR STATUTORY CLAIMS. EACH PARTY RECOGNIZES AND AGREES
     THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER
     INTO THIS AGREEMENT. EACH PARTY REPRESENTS AND WARRANTS THAT IT HAS
     REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND
     VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
     COUNSEL.

15.  CONFIDENTIALITY. In handling any confidential information, Secured Party
     shall exercise the same degree of care that it exercises for its own
     proprietary information, but disclosure of information may be made: (a) to
     Secured Party's subsidiaries or affiliates in connection with their present
     or prospective business relations with Grantor; (b) to prospective
     transferees or purchasers of any interest in the Indebtedness; (c) as
     required by law, regulation, subpoena, or other order, (d) as required in
     connection with Secured Party's examination or audit; and (e) as Secured
     Party considers appropriate in exercising remedies under this IP Agreement.
     Confidential information does not include information that either: (i) is
     in the public domain or in Secured Party's possession when disclosed to
     Secured Party, or becomes part of the public domain after disclosure to
     Secured Party; or (ii) is disclosed to Secured Party by a third party, if
     Secured Party reasonably does not know that the third party is prohibited
     from disclosing the information.

16.  INDENTURE CONTROLLING. In the event and to the extent of any inconsistency
     or conflict between the provisions of this IP Agreement and those contained
     in the Indenture, the provisions of the Indenture shall control.

                                        7
<Page>

     EXECUTED as a sealed instrument under the laws of the State of New York on
the day and year first written above.

                                     GRANTOR:
                                     iBASIS, INC.
                                     By: /s/ Gordon J. Vanderbrug
                                         ---------------------------------------
                                     Name: Gordon J. Vanderbrug
                                           -------------------------------------
                                     Title: Executive Vice President
                                            ------------------------------------

                                        8
<Page>

                                     ("Secured Party")
                                     THE BANK OF NEW YORK
                                     By: /s/ Geovanni Barris
                                         ---------------------------------------
                                     Name: Geovanni Barris
                                           -------------------------------------
                                     Title: Vice President
                                            ------------------------------------

                                        9
<Page>

                                                                       EXHIBIT A

            COPYRIGHTS, PATENTS, TRADEMARKS, MASK WORKS, AND LICENSES

                                   COPYRIGHTS

                                ISSUED COPYRIGHTS

<Table>
<Caption>
             COPYRIGHT             REGISTRATION                DATE OF
            DESCRIPTION              NUMBER                   ISSUANCE
            -----------            ------------               --------
            <S>                       <C>                     <C>
                                      NONE
</Table>

                         PENDING COPYRIGHT APPLICATIONS

<Table>
<Caption>
                                                                  FIRST DATE OF
 COPYRIGHT        APPLICATION       DATE OF       DATE OF            PUBLIC
DESCRIPTION         NUMBER          FILING        CREATION        DISTRIBUTION
-----------       -----------       -------       --------        -------------
<S>               <C>                <C>          <C>             <C>
                                     NONE
</Table>

       UNREGISTERED COPYRIGHTS (Where No Copyright Application is Pending)

<Table>
<Caption>
                                                        DATE AND
                                                      RECORDATION
                                                      NUMBER OF IP
                                                     AGREEMENT WITH
                                                   OWNER OR ORIGINAL
                                                       GRANTOR IF          ORIGINAL AUTHOR
                                                     AUTHOR OR OWNER         OR OWNER OF
                                                      OF COPYRIGHT          COPYRIGHT IS
 COPYRIGHT       DATE OF        FIRST DATE OF         IS DIFFERENT         DIFFERENT FROM
DESCRIPTION      CREATION       DISTRIBUTION          FROM GRANTOR             GRANTOR
-----------      --------       -------------      -----------------       ---------------
<S>              <C>            <C>                <C>                     <C>

</Table>

The Grantor has created a variety of custom designed software to enable its
Internet-based communications services.

<Page>

                                   EXHIBIT "B"

                                     PATENTS

<Table>
<Caption>
              PATENT
            DESCRIPTION                 DOCKET NO.         COUNTRY        SERIAL NO.       FILING DATE        STATUS
            -----------                 ----------         -------        ----------       -----------        ------
<S>                                     <C>                  <C>          <C>              <C>                <C>
METHOD FOR DETERMINING BEST PATH                             USA          10/094,671        Mar. 7, 2001      Pending

SYSTEM AND METHOD FOR                                        USA          60/331,479       Nov. 16, 2001      Pending
NEXT-GENERATION VOICE OVER
INTERNET PROTOCOL (VoIP) AND
FACSIMILE OVER INTERNET PROTOCOL
(FoIP) NETWORK

SYSTEM AND METHOD FOR PROVIDING                              USA          60/337,971        May 7, 2002       Pending
CONFERENCE CALLING OVER AN IP
NETWORK

SYSTEM AND METHOD FOR                                        USA          10/298,208       Nov. 18, 2002      Pending
NEXT-GENERATION VOICE OVER
INTERNET PROTOCOL (VoIP) AND
FACSIMILE OVER INTERNET PROTOCOL
(FoIP) CALLING OVER THE INTERNET

SYSTEM AND METHOD FOR PROVIDING                              USA          10/430,678        May 7, 2003       Pending
CONFERENCE CALLING OVER AN IP
NETWORK

SYSTEM AND METHOD FOR                                        USA          10/464,678       Aug. 25, 2003      Pending
NEXT-GENERATION VOICE OVER
INTERNET PROTOCOL (VoIP) AND
FACSIMILE OVER INTERNET PROTOCOL
(FoIP) CALLING OVER THE INTERNET
</Table>

<Page>

                                   EXHIBIT "C"

                                   TRADEMARKS

<Table>
<Caption>
      TRADEMARK
     DESCRIPTION              COUNTRY                  SERIAL NO.                   REG. NO.                STATUS
     -----------              -------                  ----------                   --------                ------
<S>                           <C>                      <C>                          <C>                 <C>
Assured Quality Routing       USA                      75/659431                    2,336,896           Registered
ConnectPoint                  USA                      76/316841                    2,633,272           Registered
iBasis                        USA                      75/731829                    2,494,853           Registered
iBasis (design)               USA                      75/731611                    2,446,999           Registered
iBasis                        European                 001924638                    001924538           Registered
                              Community
VIP Calling                   USA                      75/214395                    2,244,931           Registered
Mero Mejicano                 USA                      78/325857                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        11/11/03
Schmooze                      USA                      78/370728                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        2/20/04
ILDS                          USA                      78/383413                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        3/12/04
DirectVoIP                    USA                      78/394677                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        4/1/04
Rajdani                       USA                      78/399214                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        4/9/04
VozPort                       USA                      78/419434                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        5/10/04
Margin NOC                    USA                      78/419427                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        5/10/04
Pingo                         USA                      78/427695                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        6/1/04
Pingo (design)                USA                      78/434241                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        6/12/04
Pin-Go                        USA                      78/427705                                        Pending/Intent
                                                                                                        to  Use - filed
                                                                                                        6/1/04
</Table>

INTERNET CENTRAL OFFICE*
INTERNET BRANCH OFFICE*
CONNECTPOINT GLOBAL ACCESS*
IP CALLCARD*
        *NOT FILED

<Page>

                                   EXHIBIT "D"

                                   MASK WORKS

<Table>
<Caption>
 MASK WORK
DESCRIPTION            COUNTRY            SERIAL NO.              REG. NO.             STATUS
-----------            -------            ----------              --------             ------
<S>                    <C>                  <C>                   <C>                  <C>
                                            NONE
</Table>

<Page>

                                   EXHIBIT "E"

                                    LICENSES

The Grantor has granted licenses in the ordinary course of business for
occasional use of the Grantor's name, logo, trademarks and/or servicemarks to
certain marketing partners pursuant to joint marketing and/or other agreements,
provided, such use is previously approved by the Grantor.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00068-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00068-of-00352.parquet"}]]