Document:

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                                                                     EXHIBIT 4.6

                 VOTING AND STOCK TRANSFER RESTRICTION AGREEMENT

         This VOTING AND STOCK TRANSFER RESTRICTION AGREEMENT (this "Agreement),
dated as of February 11, 2000 (this "Agreement"), is made and entered into among
World Access, Inc., a Delaware corporation ("WAXS"), and Roger B. Abbott and
Rosalind Abbott (Roger B. Abbott and Rosalind Abbott are sometimes referred to
collectively herein as "Stockholder").

         WHEREAS, WAXS and Communication TeleSystems International d/b/a
WORLDxCHANGE Communications ("CTI") propose to enter into an Agreement and Plan
of Merger, dated as of the date hereof (as the same may be amended or
supplemented, the "Merger Agreement"; capitalized terms used but not defined
herein shall have the meanings set forth in the Merger Agreement), providing for
a business combination between WAXS and CTI (the "Transaction"), upon the terms
and subject to the conditions set forth in the Merger Agreement;

         WHEREAS, Roger B. Abbott and Rosalind Abbott jointly own 14,214,857
shares of CTI Common Stock (such shares of CTI Common Stock, together with any
other shares of CTI capital stock of which Stockholder acquires beneficial
ownership after the date hereof and during the term of this Agreement whether
upon the exercise of options, warrants or rights, the conversion or exchange of
convertible or exchangeable securities, or by means of purchase, dividend,
distribution or otherwise, being collectively referred to herein as the "CTI
Subject Shares"); and

         WHEREAS, as a condition to its willingness to enter in the Merger
Agreement, WAXS has requested that Stockholder enter into this Agreement;

         NOW, THEREFORE, in consideration of the premises and the
representations, warranties and agreements contained herein, the parties agree
as follows:

         1.       Representations and Warranties of Stockholder. Except as set
forth on Schedule 1 attached hereto, Stockholder hereby represents and warrants
to WAXS as follows:

                  (a)      Authority; No Conflicts. Stockholder has the legal
         capacity and all requisite power and authority to enter into this
         Agreement, to perform its obligations hereunder and to consummate the
         transactions contemplated hereby. This Agreement has been duly
         authorized, executed and delivered by Stockholder and constitutes a
         valid and binding obligation of Stockholder enforceable in accordance
         with its terms. No filing with, and no permit, authorization, consent
         or approval of, any governmental authority or any other person is
         necessary for the execution of this Agreement by Stockholder and the
         consummation by Stockholder of the transactions contemplated hereby and
         none of the execution and delivery of this Agreement by Stockholder,
         the consummation of the transactions contemplated hereby or compliance
         with the terms hereof by Stockholder will conflict with, or result in
         any violation of, or default (with or without notice or lapse of time
         or both) under any provision of any agreement to which Stockholder is a
         party, including any voting agreement, stockholders agreement, voting
         trust, trust agreement,

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         pledge agreement, loan or credit agreement, note, bond, mortgage,
         indenture, lease or other agreement, instrument, permit, concession,
         franchise or license or violate any judgment, order, notice, decree,
         statute, law, ordinance, rule or regulation applicable to Stockholder
         or to its property or assets except (i) where the failure to make such
         filings or obtain such permits, authorizations, consents or approvals
         would not prevent or delay the performance by Stockholder of its
         obligations under this Agreement or (ii) for any such conflicts,
         violations, defaults or other occurrences that would not prevent or
         delay the performance by Stockholder of its obligations under this
         Agreement.

                  (b)      CTI Subject Shares. Stockholder is the record and
         beneficial owner of, and has good and marketable title to, 14,214,857
         shares of CTI Common Stock, free and clear of any encumbrances,
         agreements, adverse claims, liens or other arrangements with respect to
         the ownership of or the right to vote or dispose of such shares of CTI
         Common Stock. Other than such shares of CTI Common Stock, Stockholder
         does not beneficially or of record own any shares of CTI capital stock
         or securities convertible or exchangeable for shares of CTI capital
         stock. Stockholder has the sole right and power to vote and dispose of
         such shares of CTI Common Stock. None of such shares of CTI Common
         Stock are subject to any voting trust or other agreement, arrangement
         or restriction with respect to the voting or transfer of any of the
         shares of CTI Common Stock, except as contemplated by this Agreement.

                  (c)      CTI Stock Options. Neither Roger B. Abbott nor
         Rosalind Abbott own any CTI Stock Options.

         2.       Covenants of Stockholder. Until the termination of this
Agreement in accordance with Section 4 hereof, Stockholder agrees as follows:

                  (a)      Voting of CTI Subject Shares. At any meeting of
         stockholders of CTI or at any adjournment thereof or in any other
         circumstances upon which Stockholder's vote, consent or other approval
         (including by written consent) is sought, Stockholder shall vote all of
         the CTI Subject Shares then beneficially owned by Stockholder (i) in
         favor of the Transaction and the adoption and approval of the Merger
         Agreement and each of the other transactions contemplated by the Merger
         Agreement and (ii) against any action or agreement that would result in
         a material breach of any covenant, representation or warranty or any
         other obligation or agreement of CTI under the Merger Agreement.
         Stockholder shall not hereafter, unless and until this Agreement
         terminates pursuant to Section 4 hereof, purport to grant any proxy or
         power of attorney with respect to any of the CTI Subject Shares,
         deposit any of the CTI Subject Shares into a voting trust or enter into
         any agreement (other than this Agreement), arrangement or understanding
         with any person, directly or indirectly, to vote, grant any proxy or
         give instructions with respect to the voting of any of the CTI Subject
         Shares. Stockholder further agrees not to commit or agree to take any
         action inconsistent with the foregoing.

                  (b)      Pre-Closing Transfer Restrictions. Except as
         contemplated by this Agreement or the Merger Agreement, Stockholder
         agrees not to (i) sell, hypothecate, transfer, pledge, encumber, assign
         or otherwise dispose of (including by gift)

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         (collectively, "Transfer"), or enter into any contract, option, put,
         call or other arrangement or understanding (including any profit
         sharing arrangement) with respect to the Transfer of, any of the CTI
         Subject Shares to any person, (ii) trade or take any position, hedge or
         otherwise, with respect to the CTI Subject Shares, (iii) enter into any
         voting arrangement or understanding, whether by proxy, voting agreement
         or otherwise, with respect to any of the CTI Subject Shares or (iv)
         take any action that would make any of its representations or
         warranties contained herein untrue or incorrect to a material extent or
         have the effect of preventing or materially impeding Stockholder from
         performing any of its obligations under this Agreement. Notwithstanding
         the foregoing, Stockholder may Transfer any of the CTI Subject Shares
         to any person who (x) is, at the time of such Transfer, already subject
         to an agreement with WAXS substantially identical in form and substance
         hereto (in which case, the CTI Subject Shares subject to the Transfer
         shall be governed by such substantially identical agreement) or (y)
         delivers to WAXS a counterpart of this Agreement duly executed by such
         person and otherwise agrees to be bound by all the terms and conditions
         hereof, and WAXS is otherwise reasonably satisfied that this Agreement
         is fully enforceable against such person; provided, however, that
         Stockholder shall not be entitled to Transfer any of the CTI Subject
         Shares unless immediately following such Transfer, the aggregate number
         of CTI Subject Shares subject to the terms and conditions hereof and/or
         to the terms and conditions of a substantially identical agreement or
         agreements with WAXS shall be at least equal to the aggregate number of
         CTI Subject Shares which are subject to the terms and conditions of
         this Agreement as of the date of the Merger Agreement.

                  (c)      Post-Closing Transfer Restrictions. Until six (6)
         months following the Effective Time, Stockholder agrees not to (i)
         Transfer or enter into any contract, option, put, call or other
         arrangement or understanding (including any profit sharing arrangement)
         with respect to the Transfer of any of the shares of WAXS Common Stock
         issued to Stockholder pursuant to the Merger Agreement to any person,
         or (ii) trade or take any position, hedge or otherwise, with respect to
         the shares of WAXS Common Stock issued to Stockholder pursuant to the
         Merger Agreement. Notwithstanding the foregoing, Stockholder shall be
         entitled to enter into one or more Qualifying Transactions (as defined
         below). If, on or prior to fifteen (15) days following the Effective
         Time (the "Sale Deadline"), (i) Stockholder shall have complied with
         its covenants set forth below in this Section 2(c), and (ii)
         Stockholder shall not have sold shares of WAXS Common Stock acquired by
         Stockholder pursuant to the Merger Agreement to a third party or third
         parties unrelated to WAXS (within the meaning of Treas. Reg. Sec. 1.368
         3(e)(3)) for a per share price equal to at least the Resale Price (as
         defined below), in one or more transactions (each, a "Qualifying
         Transaction"), and (iii) the aggregate Gross Cash Proceeds (as defined
         below) to Stockholder of all such Qualifying Transactions are less than
         $30,000,000, then Stockholder shall have the right to sell, subject to
         compliance with the provisions below in this Section 2(c), WAXS Common
         Stock which yields Gross Cash Proceeds equal to not more than the
         Unsold Amount (as defined below). Stockholder shall give WAXS written
         notice promptly after the consummation of any Qualifying Transaction.
         Stockholder shall be obligated to accept any bona fide offer for, and
         use commercially reasonable efforts to consummate on or prior to the
         Sale Deadline, one or more Qualifying Transactions which provide for a
         per share price at least equal to

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         the Resale Price resulting in aggregate Gross Cash Proceeds to
         Stockholder of up to $30,000,000. If Stockholder shall be entitled to
         sell shares of WAXS Common Stock in respect of any Unsold Amount
         pursuant to this Section 2(c), Stockholder shall give written notice to
         WAXS so stating (and stating the number of shares of WAXS Common Stock
         that Stockholder is so entitled to sell) not less than five days prior
         to any such permitted sale of shares of WAXS Common Stock. As used
         herein, (i) the "Resale Price" equals (x) the market price of WAXS
         Common Stock as of the time a written commitment to purchase shares of
         WAXS Common Stock has been received by Stockholder (the "Commitment
         Price") or (y) a variable price equal to the market price of WAXS
         Common Stock at the time of the closing of the applicable Qualifying
         Transaction, provided that such price is between fifteen percent (15%)
         below or fifteen percent (15%) above the Commitment Price; (ii) the
         "Unsold Amount" means the difference between $30,000,000 and the Gross
         Cash Proceeds to Stockholder of all Qualifying Transactions competed
         prior to the Sale Deadline; and (iii) "Gross Cash Proceeds" means the
         gross cash proceeds to Stockholder from the consummation of any
         Qualifying Transaction hereunder, net of reasonable and customary
         expenses incurred by Stockholder in connection with such transaction
         (but not net of any taxes incurred by Stockholder in connection with
         any such Qualifying Transaction).

         3.       No Ownership Interest. Except as set forth in Section 2,
nothing contained in this Agreement shall be deemed to vest in anyone other than
Stockholder any direct or indirect ownership or incidents of ownership of or
with respect to any of the CTI Subject Shares. All rights, ownership and
economic benefits of and relating to the CTI Subject Shares shall remain and
belong to Stockholder, and no one shall have any authority to manage, direct,
restrict, regulate, govern, or administer any of the policies or operations of
CTI or exercise any power or authority to direct the voting of any of the CTI
Subject Shares as a result of this Agreement, except to the extent set forth in
Section 2(a).

         4.       Assignment. Except as otherwise specifically provided herein,
neither this Agreement nor any of the right, interests or obligations hereunder
may be assigned by any of the parties hereto without the prior written consent
of the other parties hereto.

         5.       Termination. This Agreement shall terminate, and no party
hereto shall have any rights or obligations hereunder, upon the earlier to occur
of (i) the termination of the Merger Agreement pursuant to Article IX thereof or
(ii) the lapse of the restrictions set forth in Section 2(c) hereof.

         6.       General Provisions.

                  (a)      Amendments. This Agreement may not be amended except
         by an instrument in writing signed by each of the parties hereto.

                  (b)      Notices. All notices, requests, claims, demands and
         other communications hereunder shall be in writing and shall be given
         (and shall be deemed to have been duly given upon receipt) by delivery
         in person, by telecopy or by registered or certified mail

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         (postage prepared, return receipt requested) to the respective parties
         at the following addresses (or at such other address for a party as
         shall be specified by like notice):

         if to Stockholder, to:

                  9999 Willow Creek Road
                  San Diego, California 92131
                  Facsimile: (858) 452-3780

         with a copy to:

                  O'Melveny & Myers LLP
                  610 Newport Center Drive
                  17th Floor
                  Newport Beach, California 92660
                  Attention:  David A. Krinsky, Esq.
                  Facsimile: (949) 823-6994

         if to WAXS, to:

                  Resurgens Plaza, Suite 2210
                  945 East Paces Ferry Road
                  Atlanta, GA 30326
                  Attention: W. Tod Chmar
                  Facsimile: (404) 233-2280

         with a copy to:

                  Long Aldridge & Norman LLP
                  303 Peachtree Street, Suite 5300
                  Atlanta, Georgia 30308
                  Attention: H. Franklin Layson
                  Facsimile: (404) 527-4198

                  (c)      Interpretation. When a reference is made in this
         Agreement to Sections, such reference shall be to a Section of this
         Agreement unless otherwise indicated. The headings contained in this
         Agreement are for reference purposes only and shall not affect in any
         way the meaning or interpretation of this Agreement. Wherever the words
         "include", "includes" or "including" are used in this Agreement, they
         shall be deemed to be followed by the words "without limitation".

                  (d)      Counterparts. This Agreement may be executed in two
         or more counterparts, all of which shall be considered one and the same
         agreement, and shall become effective when one or more of the
         counterparts have been signed by each of the

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         parties and delivered to the other party, it being understood that each
         party need not sign the same counterpart.

                  (e)      Governing Law. This Agreement shall be governed by,
         and construed in accordance with, the laws of the State of Delaware
         regardless of the laws that might otherwise govern under applicable
         principles of conflicts or law.

                  (f)      Severability. If any term or other provision of this
         Agreement is invalid, illegal or incapable of being enforced by any
         rule or law, or public policy, all other conditions and provisions of
         this Agreement shall nevertheless remain in full force and effect so
         long as the economic or legal substance of the transactions
         contemplated hereby is not affected in any manner materially adverse to
         any party. Upon any determination that any term or other provision is
         invalid, illegal or incapable of being enforced, the parties hereto
         shall negotiate in good faith to modify this Agreement so as to effect
         the original intent of the parties as closely as possible in an
         acceptable manner to the end that the transactions contemplated hereby
         are fulfilled to the extent possible.

         7.       Enforcement. The parties agree that irreparable damage would
occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. It
is accordingly agreed that, in addition to any other remedy to which it may be
entitled, at law or in equity, the parties shall be entitled to the remedy of
specific performance of the covenants and agreements contained herein and
injunctive and other equitable relief.

         8.       Parties in Interest. This Agreement shall be binding upon and
inure solely to the benefit of each party hereto. Except as provided in the
preceding sentence, nothing in this Agreement, express or implied, is intended
to or shall confer upon any other person any rights, benefits or remedies or any
nature whatsoever under or by reason of this Agreement.

                      [SIGNATURES APPEAR ON FOLLOWING PAGE]

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         IN WITNESS WHEREOF, Stockholder and WAXS have caused this Agreement to
be duly and validly executed as of the date first written above.

                                 "STOCKHOLDER":

                                  /s/ Roger Abbott
                                  -------------------------------------
                                  Roger Abbott

                                  /s/ Rosalind Abbott
                                  -------------------------------------
                                  Rosalind Abbott

                                  "WAXS":

                                  WORLD ACCESS, INC.

                                  By:  /s/ W. Tod Chmar
                                     ------------------------------------------

                                      Name:  W. Tod Chmar
                                           ------------------------------------

                                      Title: Executive Vice President
                                            ------------------------------------

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                                   SCHEDULE I

1.  In connection with the Security Agreement by and between CTI and Gerard
    Klauer Mattison & Co., ("GKM") dated as of August 24, 1998, which was
    assigned to Tel-Save Holdings, Inc. ("Tel-Save") pursuant to the Assignment
    Agreement by and between GKM and Tel-Save dated as of August 25, 1999 and
    which was subsequently assigned to Mark Pavol, as Trustee of that certain
    D&K Grantor Retained Annuity Trust dated June 15, 1998, Mr. Abbott pledged
    3,022,368 shares as security for that loan.

2.  Mr. Abbott has entered into a Voting Trust Agreement with Edward Soren in
    favor of Mr. Abbott for one million shares of Mr. Soren's stock of CTI
    dated as of March 1, 1998.

3.  Mr. Abbott has granted certain co-sale rights to Gold & Appel pursuant to
    the Stock Purchase Agreement, dated September 29, 1998, by and between
    Communication TeleSystems International d/b/a WORLDxCHANGE Communications,
    Roger B. Abbott, Rosalind Abbott, Edward S. Soren and Gold and Appel
    Transfer S.A.

4.  Mr. Abbott has granted certain co-sale rights to Atocha pursuant to the
    Stock Purchase Agreement, dated September 29, 1998, by and between
    Communication TeleSystems International d/b/a WORLDxCHANGE Communications,
    Roger B. Abbott, Rosalind Abbott, Edward S. Soren and Atocha, L.P.

5.  Mr. Abbott has granted certain co-sale rights to the TVG Asian
    Communications Fund pursuant to the Stock Purchase Agreement, dated August
    24, 1998, by and between Communication TeleSystems International d/b/a
    WORLDxCHANGE Communications, WorldxChange B.V.B.A., WXL
    International-Australia, Inc., The TVG Asian Communications Fund, Warna
    Gerakan Sdn Bhd, WorldxChange Pty., Ltd, and certain individuals named
    therein.<PAGE>   1

                                                                     EXHIBIT 4.7

                 VOTING AND STOCK TRANSFER RESTRICTION AGREEMENT

         This VOTING AND STOCK TRANSFER RESTRICTION AGREEMENT (this "Agreement),
dated as of February 11, 2000 (this "Agreement"), is made and entered into among
World Access, Inc., a Delaware corporation ("WAXS"), and Atocha, L.P., a Texas
limited partnership ("Stockholder").

         WHEREAS, WAXS and Communication TeleSystems International d/b/a
WORLDxCHANGE Communications ("CTI") propose to enter into an Agreement and Plan
of Merger, dated as of the date hereof (as the same may be amended or
supplemented, the "Merger Agreement"; capitalized terms used but not defined
herein shall have the meanings set forth in the Merger Agreement), providing for
a business combination between WAXS and CTI (the "Transaction"), upon the terms
and subject to the conditions set forth in the Merger Agreement;

         WHEREAS, Stockholder owns 3,833,672 shares of CTI Common Stock, [___]
shares of CTI Series A Preferred Stock and 12,500 shares of CTI Series B
Preferred Stock (such shares of CTI Common Stock and CTI Preferred Stock,
together with any other shares of CTI capital stock of which Stockholder
acquires beneficial ownership after the date hereof and during the term of this
Agreement whether upon the exercise of options, warrants or rights, the
conversion or exchange of convertible or exchangeable securities, or by means of
purchase, dividend, distribution or otherwise, being collectively referred to
herein as the "CTI Subject Shares") and CTI Stock Options to acquire 0 shares of
CTI Common Stock; and

         WHEREAS, as a condition to its willingness to enter in the Merger
Agreement, WAXS has requested that Stockholder enter into this Agreement;

         NOW, THEREFORE, in consideration of the premises and the
representations, warranties and agreements contained herein, the parties agree
as follows:

         1.       Representations and Warranties of Stockholder. Except as set
forth on Schedule 1 attached hereto, Stockholder hereby represents and warrants
to WAXS as follows:

                  (a)      Authority; No Conflicts. Stockholder has the legal
         capacity and all requisite power and authority to enter into this
         Agreement, to perform its obligations hereunder and to consummate the
         transactions contemplated hereby. This Agreement has been duly
         authorized, executed and delivered by Stockholder and constitutes a
         valid and binding obligation of Stockholder enforceable in accordance
         with its terms. No filing with, and no permit, authorization, consent
         or approval of, any governmental authority or any other person is
         necessary for the execution of this Agreement by Stockholder and the
         consummation by Stockholder of the transactions contemplated hereby and
         none of the execution and delivery of this Agreement by Stockholder,
         the consummation of the transactions contemplated hereby or compliance
         with the terms hereof by Stockholder will conflict with, or result in
         any violation of, or default (with or without notice or lapse of time
         or both) under any provision of any agreement to which Stockholder is a
         party, including any voting agreement, stockholders agreement, voting
         trust, trust agreement, pledge agreement, loan or credit agreement,
         note, bond, mortgage, indenture, lease or other agreement, instrument,
         permit, concession, franchise or license or violate any

<PAGE>   2

         judgment, order, notice, decree, statute, law, ordinance, rule or
         regulation applicable to Stockholder or to its property or assets.

                  (b)      CTI Subject Shares. Stockholder is the record and
         beneficial owner of, and has good and marketable title to, 3,833,672
         shares of CTI Common Stock, 0 shares of CTI Series A Preferred Stock
         and 12,500 shares of CTI Series B Preferred Stock, free and clear of
         any encumbrances, agreements, adverse claims, liens or other
         arrangements with respect to the ownership of or the right to vote or
         dispose of such shares of CTI Capital Stock. Other than such shares of
         CTI Capital Stock, Stockholder does not beneficially or of record own
         any shares of CTI capital stock or securities convertible or
         exchangeable for shares of CTI capital stock. Stockholder has the sole
         right and power to vote and dispose of such shares of CTI Capital
         Stock. None of such shares of CTI Capital Stock are subject to any
         voting trust or other agreement, arrangement or restriction with
         respect to the voting or transfer of any of the shares of CTI Capital
         Stock, except as contemplated by this Agreement.

                  (c)      CTI Stock Options. Stockholder owns CTI Stock Options
         to acquire 0 shares of CTI Common Stock. Other than such CTI Stock
         Options, Stockholder has no options, warrants or other rights to
         acquire shares of CTI capital stock or securities convertible into
         shares of CTI capital stock.

         2.       Covenants of Stockholder. Until the termination of this
Agreement in accordance with Section 4 hereof, Stockholder agrees as follows:

                           (a)      Voting of CTI Subject Shares. At any meeting
         of stockholders of CTI or at any adjournment thereof or in any other
         circumstances upon which Stockholder's vote, consent or other approval
         (including by written consent) is sought, Stockholder shall vote all of
         the CTI Subject Shares then beneficially owned by Stockholder (i) in
         favor of the Transaction and the adoption and approval of the Merger
         Agreement and each of the other transactions contemplated by the Merger
         Agreement and (ii) against any action or agreement that would result in
         a material breach of any covenant, representation or warranty or any
         other obligation or agreement of CTI under the Merger Agreement.
         Stockholder shall not hereafter, unless and until this Agreement
         terminates pursuant to Section 5 hereof, purport to grant any proxy or
         power of attorney with respect to any of the CTI Subject Shares,
         deposit any of the CTI Subject Shares into a voting trust or enter into
         any agreement (other than this Agreement), arrangement or understanding
         with any person, directly or indirectly, to vote, grant any proxy or
         give instructions with respect to the voting of any of the CTI Subject
         Shares. Stockholder further agrees not to commit or agree to take any
         action inconsistent with the foregoing.

                           (b)      Pre-Closing Transfer Restrictions. Except as
         contemplated by this Agreement or the Merger Agreement, Stockholder
         agrees not to (i) sell, hypothecate, transfer, pledge, encumber, assign
         or otherwise dispose of (including by gift) (collectively, "Transfer"),
         or enter into any contract, option, put, call or other arrangement or
         understanding (including any profit sharing arrangement) with respect
         to the Transfer of, any of the CTI Subject Shares or CTI Stock Options
         to any person, (ii) trade or take any position, hedge or otherwise,
         with respect to the CTI Subject Shares, (iii) enter into

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         any voting arrangement or understanding, whether by proxy, voting
         agreement or otherwise, with respect to any of the CTI Subject Shares
         or (iv) take any action that would make any of its representations or
         warranties contained herein untrue or incorrect to a material extent or
         have the effect of preventing or materially impeding Stockholder from
         performing any of its obligations under this Agreement. Notwithstanding
         the foregoing, Stockholder may Transfer any of the CTI Subject Shares
         or CTI Stock Options to any person who (x) is, at the time of such
         Transfer, already subject to an agreement with WAXS substantially
         identical in form and substance hereto (in which case, the CTI Subject
         Shares or CTI Stock Options subject to the Transfer shall be governed
         by such substantially identical agreement) or (y) delivers to WAXS a
         counterpart of this Agreement duly executed by such person and
         otherwise agrees to be bound by all the terms and conditions hereof,
         and WAXS is otherwise reasonably satisfied that this Agreement is fully
         enforceable against such person; provided, however, that Stockholder
         shall not be entitled to Transfer any of the CTI Subject Shares or CTI
         Stock Options unless immediately following such Transfer, the aggregate
         number of CTI Subject Shares and CTI Stock Options subject to the terms
         and conditions hereof and to the terms and conditions of other
         agreements with WAXS substantially similar in form and substance hereto
         shall be at least equal to the aggregate number of CTI Subject Shares
         and CTI Stock Options which are subject to the terms and conditions of
         such agreements as of the date of the Merger Agreement.

                           (c)      Post-Closing Transfer Restrictions. Until
         six (6) months after the Effective Time, Stockholder agrees not to (i)
         Transfer or enter into any contract, option, put, call or other
         arrangement or understanding (including any profit sharing arrangement)
         with respect to the Transfer of any of the shares of WAXS Common Stock
         issued to Stockholder pursuant to the Merger Agreement to any person,
         or (ii) trade or take any position, hedge or otherwise, with respect to
         the shares of WAXS Common Stock issued to Stockholder pursuant to the
         Merger Agreement.

         3.       No Ownership Interest. Except as set forth in Section 2,
nothing contained in this Agreement shall be deemed to vest in anyone other than
Stockholder any direct or indirect ownership or incidents of ownership of or
with respect to any of the CTI Subject Shares or the CTI Stock Options. All
rights, ownership and economic benefits of and relating to the CTI Subject
Shares and the CTI Stock Options shall remain and belong to Stockholder, and no
one shall have any authority to manage, direct, restrict, regulate, govern, or
administer any of the policies or operations of CTI or exercise any power or
authority to direct the voting of any of the CTI Subject Shares as a result of
this Agreement, except to the extent otherwise expressly provided herein.

         4.       Assignment. Except as otherwise specifically provided herein,
neither this Agreement nor any of the right, interests or obligations hereunder
may be assigned by any of the parties hereto without the prior written consent
of the other parties hereto.

         5.       Termination. This Agreement shall terminate, and no party
hereto shall have any rights or obligations hereunder, upon the earlier to occur
of (i) the termination of the Merger Agreement pursuant to Article IX thereof or
(ii) the lapse of the restrictions set forth in Section 2(c) hereof.

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         6.       Conversion of Preferred Stock. Stockholder acknowledges and
agrees that any accrued and unpaid dividends owed to Stockholder in respect of
its shares CTI Preferred Stock in connection with the automatic conversion of
such CTI Preferred Stock under the articles of incorporation of CTI upon
consummation of the Merger shall be paid solely in shares of WAXS Common Stock
(valued at $20.38 per share).

         7.       General Provisions.

                  (a)      Amendments. This Agreement may not be amended except
         by an instrument in writing signed by each of the parties hereto.

                  (b)      Notices. All notices, requests, claims, demands and
         other communications hereunder shall be in writing and shall be given
         (and shall be deemed to have been duly given upon receipt) by delivery
         in person, by telecopy or by registered or certified mail (postage
         prepared, return receipt requested) to the respective parties at the
         following addresses (or at such other address for a party as shall be
         specified by like notice):

                           if to Stockholder, to:

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

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

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

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

                           with a copy to:

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

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

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

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

                           if to WAXS, to:

                           Resurgens Plaza, Suite 2210
                           945 East Paces Ferry Road
                           Atlanta, GA 30326
                           Attention: W. Tod Chmar
                           Facsimile: (404) 233-2280

                           with a copy to:

                           Long Aldridge & Norman LLP
                           303 Peachtree Street, Suite 5300
                           Atlanta, Georgia 30308
                           Attention: H. Franklin Layson
                           Facsimile: (404) 527-4198

                                       4
<PAGE>   5

                  (c)      Interpretation. When a reference is made in this
         Agreement to Sections, such reference shall be to a Section of this
         Agreement unless otherwise indicated. The headings contained in this
         Agreement are for reference purposes only and shall not affect in any
         way the meaning or interpretation of this Agreement. Wherever the words
         "include", "includes" or "including" are used in this Agreement, they
         shall be deemed to be followed by the words "without limitation".

                  (d)      Counterparts. This Agreement may be executed in one
         or more counterparts, all of which shall be considered one and the same
         agreement, and shall become effective when one or more of the
         counterparts have been signed by each of the parties and delivered to
         the other party, it being understood that each party need not sign the
         same counterpart.

                  (e)      Governing Law. This Agreement shall be governed by,
         and construed in accordance with, the laws of the State of Delaware
         regardless of the laws that might otherwise govern under applicable
         principles of conflicts or law.

                  (f)      Severability. If any term or other provision of this
         Agreement is invalid, illegal or incapable of being enforced by any
         rule or law, or public policy, all other conditions and provisions of
         this Agreement shall nevertheless remain in full force and effect so
         long as the economic or legal substance of the transactions
         contemplated hereby is not affected in any manner materially adverse to
         any party. Upon any determination that any term or other provision is
         invalid, illegal or incapable of being enforced, the parties hereto
         shall negotiate in good faith to modify this Agreement so as to effect
         the original intent of the parties as closely as possible in an
         acceptable manner to the end that the transactions contemplated hereby
         are fulfilled to the extent possible.

         8.       Enforcement. The parties agree that irreparable damage would
occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. It
is accordingly agreed that, in addition to any other remedy to which it may be
entitled, at law or in equity, the parties shall be entitled to the remedy of
specific performance of the covenants and agreements contained herein and
injunctive and other equitable relief.

         9.       Parties in Interest. This Agreement shall be binding upon and
inure solely to the benefit of each party hereto. Except as provided in the
preceding sentence, nothing in this Agreement, express or implied, is intended
to or shall confer upon any other person any rights, benefits or remedies or any
nature whatsoever under or by reason of this Agreement.

                      [SIGNATURES APPEAR ON FOLLOWING PAGE]

                                       5
<PAGE>   6

         IN WITNESS WHEREOF, Stockholder and WAXS have caused this Agreement to
be duly and validly executed as of the date first written above.

                                  ATOCHA, L.P.

                                  By: /s/ Thomas J. Cirrito
                                      ------------------------------------------
                                     Name:  Thomas J. Cirrito
                                            ------------------------------------
                                     Title: General Partner
                                            ------------------------------------

                                  WORLD ACCESS, INC.

                                  By: /s/ W. Tod Chmar
                                      ------------------------------------------
                                     Name:  W. Tod Chmar
                                            ------------------------------------
                                     Title: Executive Vice President
                                            ------------------------------------

                                       6

<PAGE>   7
                                   SCHEDULE I

1.  In order to convert preferred stock owned by stockholder, clearance under
    Hart Scott Rodino Antitrust Act of 1976, as amended, may be required.

2.  Atocha has the right to subscribe to certain additional issuances of shares
    of capital stock, convertible securities or option grants of the Company
    pursuant to (i) the Stock Purchase Agreement, dated September 29, 1998, by
    and between Communication TeleSystems International d/b/a WORLDxCHANGE
    Communications, Roger B. Abbott, Rosalind Abbott, Edward S. Soren and
    Atocha, L.P. ("Atocha"), (ii) the Stock Purchase Agreement, dated February
    3, 1999, Atocha and Communication TeleSystems International d/b/a
    WORLDxCHANGE Communications and (iii) the Stock Purchase Agreement, dated
    November 1, 1999, Atocha and Communication TeleSystems International d/b/a
    WORLDxCHANGE Communications.

3.  Atocha has certain co-sale rights pursuant to the Stock Purchase Agreement,
    dated September 29, 1998, among Communication TeleSystems International
    d/b/a WORLDxCHANGE Communications, Atocha, L.P., Roger B. Abbott, Rosalind
    Abbott and Edward S. Soren.

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