Document:

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                                  Exhibit 10.4

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                                 LEASE AGREEMENT
                                       No.

      This LEASE AGREEMENT, is effective on June 2, 2001 between
TELECOMMUNICATIONS FINANCE GROUP OF SIEMENS CARRIER NETWORKS LLC (hereinafter
"Lessor"), and WORLDXCHANGE CORP., a Delaware corporation with its principal
office located at 9775 Business Park Avenue, San Diego, California 92131,
(hereinafter "Lessee").

1.    LEASE.

      Lessor, subject to the conditions set forth in Section 25 hereof, agrees
to lease to Lessee and Lessee agrees to lease from Lessor hereunder, those items
of personal property (the "equipment") which are described on the schedule(s)
attached to the Certificate(s) of Delivery and Acceptance (hereinafter
"Schedule") and amendments to such Schedule. Lessee agrees to execute and
deliver to Lessor a Certificate of Delivery and Acceptance immediately after
Acceptance of the equipment, and such execution shall constitute Lessee's
irrevocable acceptance of such items of equipment for all purposes of this
Lease.

2.    DEFINITIONS.

      "ACCEPTANCE" shall mean that point in time when the equipment installation
      personnel complete testing of the equipment and Lessee concurs that the
      installation effort is complete, or when the equipment is placed into
      service, whichever first occurs.

      "AMORTIZATION DEDUCTIONS" as defined in Section 11 (b) (i) hereof.

      "APPRAISAL PROCEDURE" shall mean the following procedure for determining
      the Fair Market Sale Value of any item of equipment. If either Lessor or
      Lessee shall request by notice (the "Appraisal Request") to the other that
      such value be determined by the Appraisal Procedure, (i) Lessor and Lessee
      shall, within 15 days after the Appraisal Request, appoint an independent
      appraiser mutually satisfactory to them, or (ii) if the parties are unable
      to agree on a mutually acceptable appraiser within such time, Lessor and
      Lessee shall each appoint one independent appraiser (PROVIDED that if
      either party hereto fails to notify the other party hereto of the identity
      of the independent appraiser chosen by it within 30 days after the
      Appraisal Request, the determination of such value shall be made by the
      independent appraiser chosen by such other party), and (iii) if such
      appraisers cannot agree on such value within 20 days after their
      appointment and if one appraisal is not within 5% of the other appraisal,
      Lessor and Lessee shall choose a third independent appraiser mutually
      satisfactory to them (or, if they fail to agree upon a third appraiser
      within 25 days after the appointment of the first two appraisers, such
      third independent appraiser shall within 20 days thereafter be appointed
      by the American Arbitration Association), and such value shall be
      determined by such third independent appraiser within 20 days after his
      appointment, after consultation with the other two independent appraisers.
      If the first two appraisals are within 5% of each other, then the average
      of the two appraisals shall be the Fair Market Sale Value. The fees and
      expenses of all appraisers shall be paid by Lessee.

      "BUSINESS DAY" shall mean a day other than a Saturday, Sunday or legal
      holiday under the laws of the State of Florida.

      "CERTIFICATE OF DELIVERY AND ACCEPTANCE" as defined in Section 1 hereof.

      "CODE" shall mean the Internal Revenue Code of 1954, as amended, or any
      comparable successor law.

      "COMMENCEMENT DATE" as defined in Section 3 hereof.

      "DEFAULT" shall mean any event or condition which after the giving of
      notice or lapse of time or both would become an Event of Default.

      "EQUIPMENT" as defined in Section 1 hereof.

      "EVENT OF DEFAULT" as defined in Section 18 hereof.

      "EVENT OF LOSS" shall mean, with respect to any item of equipment, the
      actual or constructive total loss of such item of equipment or the use
      thereof, due to theft, destruction, damage beyond repair or rendition
      thereof permanently unfit for normal use from any reason whatsoever, or
      the condemnation, confiscation or seizure of, or requisition of title to
      or use of, such item of equipment.

      "FAIR MARKET SALE VALUE" shall, at any time with respect to any item of
      equipment, be equal to the sale value

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      of such item of equipment which would be obtained in an arm's-length
      transaction between an informed and willing seller under no compulsion
      to sell and an informed and willing buyer-user (other than a lessee
      currently in possession or a used equipment or scrap dealer). For
      purposes of Section 7(b) hereof, Fair Market Sale Value shall be
      determined by (i) an independent appraiser (at Lessee's expense)
      selected by Lessor or (ii) by the Appraisal Procedure if the Appraisal
      Request is made at least 90 days (but not more than 360 days) prior to
      the termination or expiration of the Lease Term, as the case may be,
      which determination shall be made (a) without deduction for any costs
      or expenses of dismantling or removal; and (b) on the assumption that
      such item of equipment is free and clear of all Liens and is in the
      condition and repair in which it is required to be returned pursuant to
      Section 7 (a) hereof but shall be no greater than 10.5% of the leased
      equipment value. For purposes of Section 19(c) hereof, Fair Market Sale
      Value shall be determined (at Lessee's expense) by an independent
      appraiser selected by Lessor, on an "as-is, where-is" basis, without
      regard to the provisions of clauses (a) and (b) above; PROVIDED that if
      Lessor shall have sold any item of equipment pursuant to Section 19(b)
      hereof prior to giving the notice referred to in Section 19(c) hereof,
      Fair Market Sale Value of such item of equipment shall be the net
      proceeds of such sale after deduction of all costs and expenses
      incurred by Lessor in connection therewith; PROVIDED FURTHER, that if
      for any reason Lessor is not able to obtain possession of any item of
      equipment pursuant to Section 19(a) hereof, the Fair Market Sale Value
      of such item of equipment shall be zero.

      "IMPOSITION" as defined in Section 11 (a) hereof.

      "INDEMNITEE" as defined in Section 17 hereof.

      "LATE CHARGE RATE" shall mean an interest rate per annum equal to the
      higher of two percent (2%) over the Reference Rate or eighteen percent
      (18%), but not to exceed the highest rate permitted by applicable law.

      "LEASE" and the terms "hereof", "herein", "hereto" and "hereunder", when
      used in this Lease Agreement, shall mean and include this Lease Agreement,
      Schedules, and Exhibits hereto as the same may from time to time be
      amended, modified or supplemented.

      "LEASE TERM" shall mean, with respect to any item of equipment, the term
      of the lease of such item of equipment hereunder specified in Section 3
      hereof.

      "LESSEE" as defined in the introductory paragraph to this Lease.

      "LESSOR" as defined in the introductory paragraph of this Lease.

      "LESSOR'S VALUE" shall mean, with respect to any item of equipment and
      installation if applicable, the total amount set forth in the Schedule
      hereto.

      "LESSOR'S LIENS" shall mean (i) any mortgage, pledge, lien, security
      interest, charge, encumbrance, financing statement, title retention or any
      other right or claim of any person claiming through or under Lessor, not
      based upon or relating to ownership of the equipment or the lease thereof
      hereunder and (ii) any mortgage, pledge, lien, security interest, charge,
      encumbrance, financing statement, title retention or any other right or
      claim of Owner (other than Lessor) claiming through or under Lessor in
      connection with the transactions described in Section 21(b) hereof.

      "LIENS" shall mean any mortgage, pledge, lien, security interest, charge,
      encumbrance, financing statement, title retention or any other right or
      claim of any person, other than any Lessor's Lien.

      "LOSS PAYMENT DATE" shall mean with respect to any item of equipment the
      date on which payment, as described in Section 16 (b) hereof, is made to
      the Lessor by the Lessee as the result of an Event of Loss with respect to
      such item. The Loss Payment Date shall be within ninety (90) days of the
      said Event of Loss.

      "OWNER" shall mean the entity or person having ownership interest to the
      equipment as contemplated by the provisions of Section 21(b) hereof and
      may be a person other than Lessor.

      "OWNER'S ECONOMICS" shall mean the after-tax yield and periodic after-tax
      cash flow anticipated by Owner as of the date of this Lease, in connection
      with the transactions contemplated by this Lease as determined by Owner
      unless Lessor shall have transferred its interest in the equipment to
      another person as contemplated by the provisions of Section 21(b) hereof
      in which case "Owner's Economics" shall mean the after-tax yield and
      periodic after-tax cash flow anticipated by such person as of the date of
      the lease between such person and Lessor contemplated by said provisions,
      in connection with the transactions contemplated by such lease as
      determined by such person.

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      "RECOVERY DEDUCTIONS" as defined in Section 11 (b) (i) hereof.

      "REFERENCE RATE" shall mean the rate of interest publicly announced by
      Citibank, N.A. in New York, New York from time to time as its prime rate.

      The reference rate is not intended to be the lowest rate of interest
      charged by Citibank, N.A. in connection with extensions of credit to
      debtors. The Reference Rate shall be determined at the close of business
      on the 15th day of each calendar month (if the 15th day is not a Business
      Day, then on the first preceding Business Day) and shall become effective
      as of the first day of the calendar month succeeding such determination
      and shall continue in effect to, and including, the last day of said
      calendar month.

      "RENT PAYMENT DATE" shall mean each date on which an installment of rent
      is due and payable pursuant to Section 5(a) hereof.

      "STIPULATED LOSS VALUE" shall mean, with respect to any item of equipment,
      the amount determined by multiplying the Lessor's Value of such item of
      equipment by the percentage set forth in Schedule A hereto opposite the
      applicable Rent Payment Date; provided, that for purposes of Sections 16
      (b) and 19 (c) hereof, any determination of Stipulated Loss Value as of a
      date occurring after the final Rent Payment Date with respect to such item
      of equipment, shall be made as of such final Rent Payment Date.

      "TAX BENEFITS" shall mean the right to claim such deductions, credits, and
      other benefits as are provided by the Code to an owner of property,
      including the Recovery Deductions and Amortization Deductions.

      All accounting terms not specifically defined herein shall be construed in
      accordance with generally accepted accounting principles.

3.    LEASE TERM.

      The term of the lease of the equipment hereunder shall commence on the
Commencement Date specified in the Certificate of Delivery and Acceptance
("Commencement Date") and, unless earlier terminated pursuant to the provisions
hereof or at law or equity, shall continue for a term of forty-eight (48) months
from such Commencement Date. The Commencement Date specified in the Certificate
of Delivery and Acceptance shall be the 2nd day of the month following the date
on which Acceptance occurs at a site provided by Lessee in accordance with the
provisions of Section 4 hereof.

4.    INSTALLATION.

      Lessee acknowledges installation is complete.

5.    RENT; UNCONDITIONAL OBLIGATIONS.

      (a) Lessee agrees to pay to Lessor, at the address specified in Section 24
hereof or at such other address as Lessor may specify, rent as shown in the
lease payment schedule for the initial equipment, as set forth in the Schedule
dated June 2, 2001, (plus applicable sales or use taxes) per month, in
forty-eight (48) consecutive monthly installments, with the first installment of
rent being due on the first day of the month following the Commencement Date,
and succeeding installments being due on the same date of each month thereafter.
In the event of any additions to the initially leased equipment, the rent for
the additional equipment will be the rent as shown on the amendment to the lease
payment schedule.

      (b) Lessee shall also pay to Lessor, after 3 days prior notice and
Lessee's failure to pay, interest at the Late Charge Rate on any installment of
rent and on any other amount owing hereunder which is not paid on its due date,
for any period for which the same shall be overdue. Each payment made under this
Lease shall be applied first to the payment of interest then owing and then to
rent or other amounts owing hereunder. Interest shall be computed on the basis
of a 360-day year and actual days elapsed.

      (c) This Lease is a net lease, and Lessee's obligation to pay all rent and
all other amounts payable hereunder is ABSOLUTE AND UNCONDITIONAL under any and
all circumstances and shall not be affected by any circumstances of any
character whatsoever, including, without limitation, (i) any set-off,
counterclaim, recoupment, defense, abatement or reduction or any right which
Lessee may have against Lessor, the manufacturer or supplier of any of the
equipment or anyone else for any reason whatsoever; (ii) any defect in the
title, condition, design, or operation of, or lack of fitness for use of, or any
damage to, or loss of, all or any part of the equipment from any cause
whatsoever; (iii) the existence of any Liens with respect to the equipment; (iv)
the invalidity, unenforceability or disaffirmance of this Lease or any other
document related hereto; or (v) the prohibition of or interference with the use
or possession by Lessee of all or any part of the equipment, for any reason
whatsoever, including without limitation, by reason of (1) claims for patent,
trademark or copyright infringement; (2) present or future governmental laws,

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rules or orders; (3) the insolvency, bankruptcy or reorganization of any person;
and (4) any other cause whether similar or dissimilar to the foregoing, any
present or future law to the contrary notwithstanding. Lessee hereby waives, to
the extent permitted by applicable law, any and all rights which it may now have
or which may at any time hereafter be conferred upon it, by statute or
otherwise, to terminate, cancel, quit or surrender the lease of any equipment.
If for any reason whatsoever this Lease or any Supplement, other than pursuant
to Section 16 (b) hereof, shall be terminated in whole or in part by operation
of law or otherwise, Lessee will nonetheless pay to Lessor an amount equal to
each installment of rent at the time such installment would have become due and
payable in accordance with the terms hereof. Each payment of rent or other
amount paid by Lessee hereunder shall be final and Lessee will not seek to
recover all or any part of such payment for Lessor for any reason whatsoever.

6.    WARRANTY DISCLAIMER; ASSIGNMENT OF WARRANTIES.

      (a) LESSOR NEITHER MAKES NOR SHALL BE DEEMED TO HAVE MADE AND LESSEE
HEREBY EXPRESSLY WAIVES ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR
IMPLIED, AS TO THE EQUIPMENT, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF
MERCHANTABILITY OR FITNESS OF THE EQUIPMENT FOR ANY PARTICULAR PURPOSE, FREEDOM
FROM INTERFERENCE OR INFRINGEMENT OR THE LIKE, OR AS TO THE TITLE TO OR LESSOR'S
OR LESSEE'S INTEREST IN THE EQUIPMENT OR AS TO ANY OTHER MATTER RELATING TO THE
EQUIPMENT OR ANY PART THEREOF.

      LESSEE CONFIRMS THAT IT HAS SELECTED THE EQUIPMENT AND EACH PART THEREOF
ON THE BASIS OF ITS OWN JUDGMENT AND EXPRESSLY DISCLAIMS RELIANCE UPON ANY
STATEMENTS, REPRESENTATIONS OR WARRANTIES MADE BY LESSOR.

      LESSOR NEITHER MAKES NOR SHALL BE DEEMED TO HAVE MADE ANY REPRESENTATION
OR WARRANTY AS TO THE ACCOUNTING TREATMENT TO BE ACCORDED TO THE TRANSACTIONS
CONTEMPLATED BY THIS LEASE OR AS TO ANY TAX CONSEQUENCES AND/OR TAX TREATMENT
THEREOF.

      (b) LESSOR HEREBY ASSIGNS TO LESSEE SUCH RIGHTS AS LESSOR MAY HAVE (TO
EXTENT LESSOR MAY VALIDLY ASSIGN SUCH RIGHTS) UNDER ALL MANUFACTURERS' AND
SUPPLIERS' WARRANTIES WITH RESPECT TO THE EQUIPMENT; PROVIDED, HOWEVER, THAT THE
FOREGOING RIGHTS SHALL AUTOMATICALLY REVERT TO LESSOR UPON THE OCCURRENCE AND
DURING THE CONTINUANCE OF ANY EVENT OF DEFAULT HEREUNDER, OR UPON THE RETURN OF
THE EQUIPMENT TO LESSOR. LESSEE AGREES TO SETTLE ALL CLAIMS WITH RESPECT TO THE
EQUIPMENT DIRECTLY WITH THE MANUFACTURERS OR SUPPLIERS THEREOF, AND TO GIVE
LESSOR PROMPT NOTICE OF ANY SUCH SETTLEMENT AND THE DETAILS OF SUCH SETTLEMENT.
HOWEVER, IN THE EVENT ANY WARRANTIES ARE NOT ASSIGNABLE, THE LESSOR AGREES TO
ACT ON BEHALF OF THE LESSEE IN SETTLING CLAIMS ARISING UNDER THE WARRANTY WITH
THE MANUFACTURER OR SUPPLIER.

      (c) IN NO EVENT SHALL LESSOR BE LIABLE FOR LOSS OF REVENUE OR PROFITS,
SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY NATURE OR FROM ANY
CAUSE EVEN IF LESSOR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

7.    DISPOSITION OF EQUIPMENT.

      (a) RETURN.

      Lessee shall, upon the expiration or earlier termination of the Lease Term
of each item of equipment, subject to paragraph (b) below, return such item of
equipment to Lessor at such place within the continental United States of
America as Lessor shall designate in writing to Lessee. Until such item of
equipment is returned to Lessor pursuant to the provisions of this Section, all
of the provisions of this Lease with respect thereto shall continue in full
force and effect. Lessee shall pay all the costs and expenses in connection with
or incidental to the return of the equipment, including, without limitation, the
cost of removing, assembling, packing, insuring and transporting the equipment.
At the time of such return, the equipment shall be in the condition and repair
required to be maintained by Section 12 hereof and free and clear of all Liens.

      (b)  PURCHASE OPTION.

      So long as no Default or Event of Default shall have occurred and be
continuing, Lessee may, by written notice given to Lessor at least 120 days (but
not more than 360 days) prior to the expiration date of the Lease Term of any
item of equipment (which notice shall be irrevocable), elect to purchase such
item of equipment on such expiration date for a cash purchase price equal to the
Fair Market Sale Value of such item of equipment determined as of such
expiration date, plus an amount equal to all taxes (other than income taxes on
any gain on such sale), costs and expenses (including legal fees and expenses)
incurred or paid by Lessor in connection with such sale. Upon payment by Lessee
of such purchase price, and of all other amounts then due and payable by Lessee,
Lessor
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shall transfer title, if any, to such items of equipment except computer
software to Lessee on an "as-is, where-is" basis, without recourse and without
representation or warranty of any kind, express or implied, other than a
representation and warranty that such item of equipment is free and clear of
any Lessor's Liens.

8.    REPRESENTATION AND WARRANTIES.

      In order to induce Lessor to enter into this Lease and to lease the
equipment to Lessee hereunder, Lessee represents and warrants that:

      (a)  ORGANIZATION.

      Lessee is duly organized, validly existing and in good standing under the
laws of the State of Delaware and is duly qualified to do business and is in
good standing in the State in which the equipment will be located.

      (b)  POWER AND AUTHORITY.

      Lessee has full power, authority and legal right to execute, deliver and
perform this Lease, and the execution, delivery and performance hereof has been
duly authorized by Lessee's governing body or officer(s).

      (c)  ENFORCEABILITY.

      This Lease has been duly executed and delivered by Lessee and constitutes
a legal, valid and binding obligation of Lessee enforceable in accordance with
its terms.

      (d)  CONSENTS AND PERMITS.

      The execution, delivery and performance of this Lease does not require any
approval or consent of any trustee, shareholder, partner, sole proprietor, or
holders of any indebtedness or obligations of Lessee, and will not contravene
any law, regulation, judgment or decree applicable to Lessee, or the certificate
of partnership or incorporation or by-laws of Lessee, or contravene the
provisions of, or constitute a default under, or result in the creation of any
Lien upon any property of Lessee under any mortgage, instrument or other
agreement to which Lessee is a party or by which Lessee or its assets may be
bound or affected; and no authorization, approval, license, filing or
registration with any court or governmental agency or instrumentality is
necessary in connection with the execution, delivery, performance, validity and
enforceability of this Lease.

      (e)  FINANCIAL CONDITION OF THE LESSEE.

      The financial statements and any other financial information of Lessee
heretofore furnished to Lessor are complete and correct and fairly present the
financial condition of Lessee and the results of its operations for the
respective periods covered thereby, there are no known contingent liabilities or
liabilities for taxes of Lessee which are not reflected in said financial
statements and since the date thereof, there has been no material adverse change
in such financial condition or operations.

      (f)  NO LITIGATION.

      There is no action, suit, investigation or proceeding by or before any
court, arbitrator, administrative agency or other governmental authority pending
or threatened against or affecting Lessee (A) which involves the transactions
contemplated by this Lease or the equipment; or (B) which, if adversely
determined, could have a material adverse effect on the financial condition,
business or operations of Lessee.

      (g)  UNITED STATES SOURCE INCOME.

      No items of equipment shall be used in a way that results in the creation
of an item of income to Lessor, the source of which for Federal Income Tax
purposes is without the United States.

9.    LIENS.

      Lessee will not directly or indirectly create, incur, assume, suffer, or
permit to exist any Lien on or with respect to the equipment.

10.   INSURANCE.

      Lessee shall maintain at all times on the equipment, at its expense,
property damage, direct damage and liability insurance in such amounts, against
such risks, in such form and with such insurers as shall be reasonably
satisfactory to Lessor and any other Owner; provided, that the amount of direct
damage insurance shall not on any

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date be less than the greater of the full replacement value or the Stipulated
Loss Value of the equipment as of such date. Each insurance policy will, among
other things, name Lessor and any other Owner as an additional insured or as
loss payee (as the case may be) as their interests may appear, require that the
insurer give Lessor and any such Owner at least thirty (30) days prior written
notice of any alteration in or cancellation of the terms of such policy, and
require that the interest of Lessor and any such Owner continue to be insured
regardless of any breach of or violation by Lessee of any warranties,
declarations or conditions contained in such insurance policy. Lessee shall
furnish to Lessor and such Owner a certificate or other evidence satisfactory
to Lessor that such insurance coverage is in effect provided, however, that
Lessor and such Owner shall be under no duty to ascertain the existence or
adequacy of such insurance.

11.   TAXES.

      (a)  GENERAL TAX PROVISIONS.

      Lessee shall timely pay, and shall indemnify and hold Lessor harmless from
and against, all fees, taxes (whether sales, use, excise, personal property or
other taxes), imposts, duties, withholdings, assessments and other governmental
charges of whatever kind or character, however designated (together with any
penalties, fines or interest thereon), all of the foregoing being herein
collectively called "Impositions", which are at any time levied or imposed
against Lessor, Lessee, this Lease, the equipment or any part thereof by any
Federal, State, or Local Government or taxing authority in the United States or
by any foreign government or any subdivision or taxing authority thereof upon,
with respect to, as a result of or measured by (i) the equipment (or any part
thereof), or this Lease or the interests of the Lessor therein; or (ii) the
purchase, ownership, delivery, leasing, possession, maintenance, use, operation,
return, sale or other disposition of the equipment or any part thereof; or (iii)
the rentals, receipts or earnings payable under this Lease or otherwise arising
from the equipment or any part thereof; EXCLUDING, HOWEVER, taxes based on or
measured by the net income of Lessor that are imposed by (1) the United States
of America, or (2) the State of Florida or any political subdivision of the
State of Florida, or (3) any other State of the United States of America or any
political subdivision of any such State in which Lessor is subject to
Impositions as the result (whether solely or in part) of business or
transactions unrelated to this Lease. In case any report or return is required
to be filed with respect to any obligation of Lessee under this Section or
arising out of this Section, Lessee will notify Lessor of such requirement and
make such report or return in such manner as shall be satisfactory to Lessor;
PROVIDED, that the payment of any use taxes shall be made in such manner as
specified by Lessor in writing to Lessee; or (iv) The provisions of this Section
shall survive the expiration or earlier termination of this Lease.

      (b)  SPECIAL TAX PROVISIONS.

            (i) The Owner of the items of equipment, shall be entitled to take
into account in computing its Federal income tax liability, Current Tax Rate and
such deductions, credits, and other benefits as are provided by the Code to an
owner of property, including, without limitation:

            (A)Recovery deductions ("Recovery Deductions") under Section 168 (a)
of the Code for each item of equipment in an amount determined, commencing with
the 2001 taxable year, by multiplying the Owner's Cost of such item of equipment
by the percentages applicable under Section 168 (b) of the Code with respect to
"(5)-year property" within the meaning of Section 168 (c) (2) of the Code;

            (B) Amortization of expenses ("Amortization Deductions") paid or to
be paid by Owner in connection with this Lease at a rate no less rapid than
straight line over the Lease Term.

            (ii) For the purposes of this Subsection 11 (b) only, the term
"Owner" shall include the "common parent" and all other corporations included in
the affiliated group, within the meaning of Section 1504 of the Code (or any
other successor section thereto), of which Owner is or becomes a member.

12.   COMPLIANCE WITH LAWS; OPERATION AND MAINTENANCE.

      (a) Lessee will use the equipment in a careful and proper manner, will
comply with and conform to all governmental laws, rules and regulations relating
thereto, and will cause the equipment to be operated in accordance with the
manufacturer's or supplier's instructions or manuals.

      (b) Lessee will, at its own expense, keep and maintain the equipment in
good repair, condition and working order and furnish all parts, replacements,
mechanisms, devices and servicing required therefor so that the value, condition
and operating efficiency therefor will at all times be maintained and preserved,
reasonable wear and tear excepted. Lessee will, at its own expense, perform all
required acts necessary to maintain any manufacturer's warranties and guarantees
respecting the equipment. All such repairs, parts, mechanisms, devices and
replacements shall immediately, without further act, become the property of
Lessor and part of the equipment.

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      (c) Lessee will not make or authorize any improvement, change, addition or
alteration to the equipment (i) if such improvement, change, addition or
alteration will impair the originally intended function or use of the equipment
or impair the value of the equipment as it existed immediately prior to such
improvement, change, addition or alteration; or (ii) if any parts installed in
or attached to or otherwise becoming a part of the equipment as a result of any
such improvement, change, addition or alteration shall not be readily removable
without damage to the equipment. Any part which is added to the equipment
without violating the provisions of the immediately preceding sentence and which
is not a replacement or substitution for any property which was a part of the
equipment, shall remain the property of Lessee and may be removed by Lessee at
any time prior to the expiration or earlier termination of the Lease Term. All
such parts shall be and remain free and clear of any Liens. Any such part which
is not so removed prior to the expiration or earlier termination of the Lease
Term shall, without further act, become the property of Lessor.

13.   INSPECTION.

      Upon prior notice, Lessor or its authorized representatives may at any
reasonable time or times inspect the equipment when it deems it necessary to
protect its interest therein.

14.   IDENTIFICATION.

      Lessee shall, at its expense, attach to each item of equipment a notice
satisfactory to Lessor disclosing Owner's ownership of such item of equipment.

15.   PERSONAL PROPERTY.

      Lessee represents that the equipment shall be and at all times remain
separately identifiable personal property. Lessee shall, at its expense, take
such action (including the obtaining and recording of waivers) as may be
necessary to prevent any third party from acquiring any right to or interest in
the equipment by virtue of the equipment being deemed to be real property or a
part of real property or a part of other personal property, and if at any time
any person shall claim any such right or interest, Lessee shall, at its expense,
cause such claim to be waived in writing or otherwise eliminated to Lessor's
satisfaction within 30 days after such claim shall have first become known to
Lessee.

16.   LOSS OR DAMAGE.

      (a) All risk of loss, theft, damage or destruction to the equipment or any
part thereof, however incurred or occasioned, shall be borne by Lessee and,
unless such occurrence constitutes an Event of Loss pursuant to paragraph (b) of
this Section, Lessee shall promptly give Lessor written notice hereof and shall
promptly cause the affected part or parts of the equipment to be replaced or
restored to the condition and repair required to be maintained by Section 12
hereof.

      (b) If an Event of Loss with respect to any item of equipment shall occur,
Lessee shall promptly give Lessor written notice thereof, and Lessee shall pay
to Lessor as soon as it receives insurance proceeds with respect to said Event
of Loss but in any event no later than 90 days after the occurrence of said
Event of Loss an amount equal to the sum of (i) the Stipulated Loss Value of
such item of equipment computed as of the Rent Payment Date with respect to such
item of equipment on or immediately preceding the date of the occurrence of such
Event of Loss; and (ii) all rent and other amounts due and owing hereunder for
such item of equipment on or prior to the Loss Payment Date. Upon payment of
such amount to Lessor, the lease of such item of equipment hereunder shall
terminate, and Lessor will transfer within forty days to Lessee, Lessor's right,
title, if any, and interest in and to such item of equipment, on an "as-is,
where-is" basis, without recourse and without representation or warranty,
express or implied, other than a representation and warranty that such item of
equipment is free and clear of any Lessor's Liens.

      (c) Any payments received at any time by Lessor or Lessee from any insurer
with respect to loss or damage to the equipment shall be applied as follows: (i)
if such payments are received with respect to an Event of Loss they shall be
paid to Lessor, but to the extent received by Lessor, they shall reduce or
discharge, as the case may be, Lessee's obligation to pay the amounts due to
Lessor under Section 16 (b) hereof with respect to such Event of Loss; or (ii)
if such payments are received with respect to any loss of or damage to the
equipment other than an Event of Loss, such payments shall, unless a Default or
Event of Default shall have occurred and be continuing, be paid over to Lessee
to reimburse Lessee for its payment of the costs and expenses incurred by Lessee
in replacing or restoring pursuant to Section 16 (a) hereof the part or parts of
the equipment which suffered such loss or damage.

17.   GENERAL INDEMNITY.

      Lessee assumes liability for, and shall indemnify, protect save and keep
harmless Lessor, the partners comprising Lessor, its and their directors,
officers, employees, agents, servants, successors and assigns (an

<Page>

"Indemnitee") from and against any and all liabilities, obligations, losses,
damages, penalties, claims, actions, suits, costs and expenses (other than
customary internal administrative costs and expenses associated with the Lease,
which shall be borne by the party incurring them), including reasonable legal
expenses, of whatsoever kind and nature, imposed on, incurred by or asserted
against any Indemnitee, in any way relating to or arising out of this Lease or
the enforcement hereof, or the manufacture, purchase, acceptance, rejection,
ownership, possession, use, selection, delivery, lease, operation, condition,
sale, return or other disposition of the equipment or any part thereof
(including, without limitation, latent or other defects, whether or not
discoverable by Lessee or any other person, any claim in tort whether or not
for strict liability and any claim for patent, trademark, copyright or other
intellectual property infringement); provided, however, that Lessee shall not
be required to indemnify any Indemnitee for loss or liability arising from acts
or events which occur after the equipment has been returned to Lessor in
accordance with the Lease, or for loss or liability resulting solely from the
willful misconduct or gross negligence of such Indemnitee. The provisions of
this Section shall survive the expiration or earlier termination of this Lease.

18.   EVENTS OF DEFAULT.

      The following events shall each constitute an event of default (herein
called "Event of Default") under this Lease:

      (i) Lessee shall fail to execute and deliver to Lessor (or Lessor's agent)
the "Certificate of Delivery and Acceptance" within twenty-four (24) hours of
Acceptance of the equipment by Lessee.

      (ii) Lessee shall fail to commence lease payments on the first day of the
month following the Commencement Date, or such other initiation of lease
payments as specified in Section 5 of this Lease and Lessee fails to cure such
non-payment after 3 days written notice.

      (iii) Lessee shall fail to make any payment of rent or other amount owing
hereunder or otherwise after notice has been given that payment is past due and
Lessee fails to cure such non-payment after 3 days written notice; or

      (iv) Lessee shall fail to maintain the insurance required by Section 10
hereof or to perform or observe any of the covenants contained in Sections 21 or
22 hereof; or

      (v) Lessee shall fail to perform or observe any other covenant, condition
or agreement to be performed or observed by it with respect to this Lease or any
other agreement between Lessor and Lessee and such failure shall continue
unremedied for 30 days after the earlier of (a) the date on which Lessee
obtains, or should have obtained knowledge of such failure; or (b) the date on
which written notice thereof shall be given by Lessor to Lessee; or

      (vi) Any representation or warranty made by Lessee herein or in any
document, certificate or financial or other statement now or hereafter furnished
Lessor in connection with this Lease shall prove at any time to have been
untrue, incomplete or misleading in any material respect as of the time when
made; or

      (vii) The entry of a decree or order for relief by a court having
jurisdiction in respect of Lessee, adjudging Lessee a bankrupt or insolvent, or
approving as properly filed a petition seeking a reorganization, arrangement,
adjustment or composition of or in respect of Lessee in an involuntary
proceeding or case under the Federal bankruptcy laws, as now or hereafter
constituted, or any other applicable Federal or State bankruptcy, insolvency or
other similar law, or appointing a receiver, liquidator, assignee, custodian,
trustee or sequestrator (or similar official) of Lessee or of any substantial
part of its property, or ordering the winding-up or liquidation of its affairs,
and the continuance of any such decree or order unstayed and in effect for a
period of 30 days; or

      (viii) The institution by Lessee of proceedings to be adjudicated a
bankrupt or insolvent, or the consent by it to the institution of bankruptcy or
insolvency proceedings against it, or the commencement by Lessee of a voluntary
proceeding or case under the Federal bankruptcy laws, as now or hereafter
constituted, or any other applicable Federal or state bankruptcy, insolvency or
other similar law, or the consent by it to the filing of any such petition or to
the appointment of or taking possession by a receiver, liquidator, assignee,
trustee, custodian or sequestrator (or other similar official) of Lessee or of
any substantial part of its property, or the making by it of any assignment for
the benefit of creditors or the admission by it of its inability to pay its
debts generally as they become due or its willingness to be adjudicated a
bankrupt or the failure of Lessee generally to pay its debts as they become due
or the taking of corporate action by Lessee in furtherance of any of the
foregoing.

   (ix) Substantial change (sale or transfer of 50% or more of the
controlling interests, i.e., shares, partnership interest. etc. of Lessee) in
the ownership of the Lessee without first obtaining the written approval of
Lessor, which approval shall not be unreasonably withheld.

19.   REMEDIES.

<Page>

      If an Event of Default specified in Subsection 18(vii) or (viii) above
shall occur, then, and in any such event, Lessor shall not be obligated to
purchase or lease any of the equipment and this Lease shall, without any
declaration or other action by Lessor, be in default. If an Event of Default,
other than an Event of Default specified in Subsection 18(vii) or (viii) above,
shall occur, Lessor may, at its option, declare this Lease to be in default. At
any time after this Lease is in default under the first sentence of this Section
19, Lessor has declared this Lease to be in default under the second sentence of
this Section 19, Lessor and/or its representative may do any one or more of the
following with respect to all of the equipment or any part thereof as Lessor in
its sole discretion shall elect, to the extent permitted by applicable law then
in effect:

      (a) demand that Lessee, and Lessee shall at its expense upon such demand,
return the equipment promptly to Lessor at such place in the continental United
States of America as Lessor shall specify, or Lessor and/or its agents, at its
option, may with or without entry upon the premises where the equipment is
located and disable the equipment, or make the equipment inoperable permanently
or temporarily in Lessor's sole discretion, and/or take immediate possession of
the equipment and remove the same by summary proceedings or otherwise, all
without liability for or by reason of such entry or taking of possession,
whether for the restoration of damage to property caused by such taking or for
disabling or otherwise;

      (b) sell the equipment at public or private sale, with or without notice,
advertisement or publication, as Lessor may determine, or otherwise dispose of,
hold, use, operate, lease to others or keep idle the equipment as Lessor in its
sole discretion may determine, all free and clear of any rights of Lessee and
without any duty to account to Lessee with respect to such action or inaction or
for any proceeds with respect thereto;

      (c) by written notice to Lessee specifying a payment date which shall be
not earlier than 20 days after the date of such notice, demand that Lessee pay
to Lessor, and Lessee shall pay to Lessor, on the payment date specified in such
notice, as liquidated damages for loss of a bargain and not as a penalty, all
accrued and unpaid rent for the equipment due on all Rent Payment Dates up to
and including the payment date specified in such notice PLUS an amount (together
with interest on such amount at the Late Charge Rate, from the payment date
specified in such notice to the date of actual payment) equal to the excess, if
any, of the Stipulated Loss Value of the equipment as of the payment date
specified in such notice over the Fair Market Sale Value of the equipment as of
such date;

      (d) Lessor may exercise any other right or remedy which may be available
to it under applicable law or proceed by appropriate court action to enforce the
terms hereof or to recover damages for the breach hereof or to rescind this
Lease. Lessor is entitled to recover any amount that fully compensates the
Lessor for any damage to or loss of the Lessor's residual interest in the
equipment caused by the Lessee's default.

      In the event any present value discounting is applied, the discount rate
used shall be the Federal Reserve Board Discount Rate.

      In addition, Lessee shall be liable for any and all unpaid rent and other
amounts due hereunder before or during the exercise of any of the foregoing
remedies and for all reasonable legal fees and other costs and expenses incurred
by reason of the occurrence of any Event of Default or the exercise of Lessor's
remedies with respect thereto, including all reasonable costs and expenses
incurred in connection with the placing of the equipment in the condition
required by Section 12 hereof.

      No remedy referred to in this Section 19 is intended to be exclusive, but
each shall be cumulative and in addition to any other remedy referred to herein
or otherwise available to Lessor at law or in equity; and the exercise or
beginning of exercise by Lessor of any one or more of such remedies shall not
preclude the simultaneous or later exercise by Lessor of any or all such other
remedies. No express or implied waiver by Lessor of an Event of Default shall in
any way be, or be construed to be, a waiver of any future or subsequent Event of
Default. To the extent permitted by applicable law, Lessee hereby waives any
rights now or hereafter conferred by statute or otherwise which may require
Lessor to sell or lease or otherwise use the equipment in mitigation of Lessor's
damages or losses or which may otherwise limit or modify any of Lessor's rights
or remedies under this Lease.

20.   LESSOR'S RIGHT TO PERFORM.

IF LESSEE FAILS TO MAKE ANY PAYMENT, OTHER THAN RENT DUE HEREUNDER, REQUIRED TO
BE MADE BY IT HEREUNDER OR FAILS TO PERFORM OR COMPLY WITH ANY OF ITS OTHER
AGREEMENTS CONTAINED HEREIN, LESSOR MAY ITSELF MAKE SUCH PAYMENT OR PERFORM OR
COMPLY WITH SUCH AGREEMENT, AND THE AMOUNT OF SUCH PAYMENT AND THE AMOUNT OF THE
REASONABLE EXPENSES OF LESSOR INCURRED IN CONNECTION WITH SUCH PAYMENT OR THE
PERFORMANCE OF OR COMPLIANCE WITH SUCH AGREEMENT, AS THE CASE MAY BE, TOGETHER
WITH INTEREST THEREON AT THE LATE CHARGE RATE, SHALL BE DEEMED TO BE ADDITIONAL
RENT, PAYABLE BY LESSEE WITHIN 30 DAYS OF NOTICE.

21.   LOCATION; ASSIGNMENT OR SUBLEASE; TITLE TRANSFER.

<Page>

      (a) LESSEE WILL NOT REMOVE THE EQUIPMENT FROM THE LOCATION SPECIFIED IN
THE SCHEDULE WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR, SUCH CONSENT NOT TO BE
UNREASONABLY WITHHELD, EXCEPT REMOVAL OUTSIDE THE CONTINENTAL U.S. IS NOT
PERMITTED. THE EQUIPMENT SHALL AT ALL TIMES BE IN THE SOLE POSSESSION AND
CONTROL OF LESSEE AND LESSEE WILL NOT, WITHOUT THE PRIOR WRITTEN CONSENT OF
LESSOR, ASSIGN THIS LEASE OR ANY INTEREST HEREIN OR SUBLEASE OR OTHERWISE
TRANSFER ITS INTEREST IN ANY OF THE EQUIPMENT, AND ANY ATTEMPTED ASSIGNMENT,
SUBLEASE OR OTHER TRANSFER BY LESSEE IN VIOLATION OF THESE PROVISIONS SHALL BE
VOID.

      (b) LESSOR AND LESSEE ACKNOWLEDGE THAT LESSOR (i) MAY TRANSFER ITS
INTEREST IN THE EQUIPMENT TO AN OWNER OTHER THAN LESSOR. LESSOR MAY
CONTEMPORANEOUSLY THEREWITH LEASE THE EQUIPMENT BACK FROM SUCH OWNER, AND (ii)
MAY ASSIGN THIS LEASE. LESSEE HEREBY CONSENTS TO EACH OF THE ABOVE-DESCRIBED
TRANSACTIONS. FURTHER LESSEE DOES HEREBY ACKNOWLEDGE (i) THAT ANY SUCH TRANSFER
AND/OR ASSIGNMENT BY LESSOR DOES NOT MATERIALLY CHANGE LESSEE'S DUTIES AND
OBLIGATIONS HEREUNDER, (ii) THAT SUCH TRANSFER AND/OR ASSIGNMENT DOES NOT
MATERIALLY INCREASE THE BURDENS OR RIGHTS IMPOSED ON THE LESSEE, AND (iii) THAT
THE ASSIGNMENT IS PERMITTED EVEN IF THE ASSIGNMENT COULD BE DEEMED TO MATERIALLY
AFFECT THE INTEREST OF THE LESSEE.

22.   STATUS CHANGES IN LESSEE.

   (a) Lessee will not, without Lessor's prior written consent, which consent
shall not be unreasonably withheld: (i) enter into any transaction of merger or
consolidation unless it is the surviving corporation; (ii) change the form of
organization of its business; (iii) liquidate, dissolve or take any such similar
action; or (iv) sell, transfer or otherwise dispose of all or any substantial
part of its assets.

   (b) In the event that (i) the majority of the voting stock of Lessee is
transferred to persons other than existing shareholders of Lessee as of the date
of this lease ("Existing Shareholders") or relatives or affiliates of Existing
Shareholders; or (ii) a sale, exchange or transfer (other than a transfer in
trust or to a subsidiary or affiliate) occurs of all or substantially all of the
assets of Lessee, then in such event Lessee shall be required to pay off the
unamortized lease balance, any billed but unpaid interest and any late charges
and applicable property taxes, prior to or concurrently with the closing of the
sales transaction.

23.   FURTHER ASSURANCES; FINANCIAL INFORMATION.

      (a) Lessee will, at its expense, promptly and duly execute and deliver to
Lessor such further documents and assurances and take such further action as
Lessor may from time to time reasonably request in order to establish and
protect the rights, interests and remedies created or intended to be created in
favor of Lessor hereunder, including, without limitation, the execution and
filing of Uniform Commercial Code financing statements covering the equipment
and proceeds therefrom in the jurisdictions in which the equipment is located
from time to time. To the extent permitted by applicable law, Lessee hereby
authorizes Lessor to file any such financing statements without the signature of
Lessee.

      (b) Lessee will qualify to do business and remain qualified in good
standing, in each jurisdiction in which the equipment is from time to time
located.

      (c) Lessee will furnish to Lessor as soon as available, but in any event
not later than 90 days after the end of each fiscal year of Lessee, a
consolidated balance sheet of Lessee as at the end of such fiscal year, and
consolidated statements of income and changes in financial position of Lessee
for such fiscal year, all in reasonable detail, prepared in accordance with
generally accepted accounting principles applied on a basis consistently
maintained throughout the period involved. These reports will not be disclosed
to anyone other than the Lessor and/or the Owner as provided in Section 21 (b).

24.   NOTICES.

      All notices, demands and other communications hereunder shall be in
writing, and shall be deemed to have been given or made when deposited in the
United States mail, first class postage prepaid, addressed as follows or to such
other address as any of the authorized representatives of the following entities
may from time to time designate in writing to the other listed below:

<Table>
      <S>         <C>
      Lessor:     TELECOMMUNICATIONS FINANCE GROUP
                  OF SIEMENS CARRIER NETWORKS LLC
                  Attn:  Director, Credit & Leasing
                  400 Rinehart Road
                  Lake Mary, Florida 32746

<Page>

      <S>         <C>
                  TELECOMMUNICATIONS FINANCE GROUP
                  OF SIEMENS CARRIER NETWORKS LLC
                  Attn:  General Counsel
                  900 Broken Sound Parkway
                  Boca Raton, Florida 33487

      Lessee:     WORLDXCHANGE CORP.
                  Attn: Legal Dept.
                  9775 Business Park Avenue
                  San Diego, California 92131

                  I-LINK INCORPORATED
                  Attn: General Counsel
                  13751 South Wadsworth Park Drive
                  Draper, UT 84020
</Table>

25.   CONDITIONS PRECEDENT:

      (a) Lessor shall not be obligated to lease the items of equipment
described herein to Lessee hereunder unless:

            (i) Such Uniform Commercial Code financing statements covering
equipment and proceeds therefrom and landlord and/or mortgagee waivers or
disclaimers and/or severance agreements with respect to the items of equipment
covered by this Lease as Lessor shall deem necessary or desirable in order to
perfect and protect its interests therein shall have been duly executed and
filed, at Lessee's expense, in such public offices as Lessor shall direct;

            (ii) All representations and warranties of Lessee contained herein
or in any document or certificate furnished Lessor in connection herewith shall
be true and correct on and as of the date of this Lease with the same force and
effect as if made on and as of such date; no Event of Default or Default shall
be in existence on such date or shall occur as a result of the lease by Lessee
of the equipment specified in the Schedule;

            (iii) In the sole judgment of Lessor, there shall have been no
material adverse change in the financial condition or business of Lessee;

            (iv) All proceedings to be taken in connection with the transactions
contemplated by this Lease, and all documents incidental thereto, shall be
satisfactory in form and substance to Lessor and its counsel;

            (v) Lessor shall have received from Lessee, in form and substance
satisfactory to it, such other documents and information as Lessor shall
reasonably request;

            (vi) All legal matters in connection with the transactions
contemplated by this Lease shall be satisfactory to Lessor's counsel; and

            (vii) No Change in Tax Law, which in the sole judgment of Lessor
would adversely affect Lessor's Economics, shall have occurred or shall appear,
in Lessor's good faith judgment, to be imminent.

26.   SOFTWARE LICENSE.

      Reference is made to the form of Software Product License Agreement
attached hereto as Exhibit B (the "License Document"). Lessor has arranged for
the equipment manufacturer to grant Lessee a license to use the Software as
defined in the License Document in conjunction with the equipment leased
hereunder in accordance with the terms of the License Document. The original
license fee is contained in the lease rate. To avail itself of the license
grant, Lessee must execute the License Document, upon Commencement of the Lease.
"Buyer" and "Licensee" as used in the License Document are synonymous with
lessee.

27.   LIMITATION OF LIABILITY.

      LESSOR SHALL NOT BE LIABLE FOR LOST PROFITS OR REVENUE, SPECIAL, INDIRECT,
INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OF ANY NATURE OR FROM ANY CAUSE
WHETHER BASED IN CONTRACT OR TORT, INCLUDING NEGLIGENCE, OR OTHER LEGAL THEORY
EVEN IF LESSOR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. LESSEE
HEREBY AGREES THAT LESSOR WILL NOT BE LIABLE FOR ANY LOST PROFITS OR REVENUE OR
FOR ANY CLAIM OR DEMAND AGAINST

<Page>

LESSEE BY ANY OTHER PARTY.

28.   MISCELLANEOUS.

      (a) Any provision of this Lease which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provisions in any
other jurisdiction. To the extent permitted by applicable law, Lessee hereby
waives any provision of law which renders any provision hereof prohibited or
unenforceable in any respect.

      (b) No terms or provisions of this Lease may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by
the party against which the enforcement of the change, waiver, discharge or
termination is sought. No delay or failure on the part of Lessor to exercise any
power or right hereunder shall operate as a waiver thereof, nor as an
acquiescence in any default, nor shall any single or partial exercise of any
power or right preclude any other or further exercise thereof, or the exercise
of any other power or right. After the occurrence of any Default or Event of
Default, the acceptance by Lessor of any payment of rent or other sum owed by
Lessee pursuant hereto shall not constitute a waiver by Lessor of such Default
or Event of Default, regardless of Lessor's knowledge or lack of knowledge
thereof at the time of acceptance of any such payment, and shall not constitute
a reinstatement of this Lease, if this Lease shall have been declared in default
by Lessor pursuant to Section 18 hereof or otherwise, unless Lessor shall have
agreed in writing to reinstate the Lease and to waive the Default or Event of
Default.

In the event Lessee tenders payment to Lessor by check or draft containing a
qualified endorsement purporting to limit or modify Lessee's liability or
obligations under this Lease, such qualified endorsement shall be of no force
and effect even if Lessor processes the check or draft for payment.

      (c) This Lease with exhibits contains the full, final and exclusive
statement of the agreement between Lessor and Lessee relating to the lease of
the equipment.

      (d) This Lease shall constitute an agreement of an operating lease, and
nothing herein shall be construed as conveying to Lessee any right, title or
interest in the equipment except as Lessee only.

      (e) This Lease and the covenants and agreements contained herein shall be
binding upon, and inure to the benefit of, Lessor and its successors and assigns
and Lessee and, to the extent permitted by Section 21 hereof, its successors and
assigns.

      (f) The headings of the Sections are for convenience of reference only,
are not a part of this Lease and shall not be deemed to affect the meaning or
construction of any of the provisions hereof.

      (g) This Lease may be executed by the parties hereto on any number of
separate counterparts, each of which when so executed and delivered shall be an
original, but all such counterparts shall together constitute but one and the
same instrument.

      (h) This Lease is deemed made and entered into in the State of Florida and
shall be governed by and construed under and in accordance with the laws of the
State of Florida as if both parties were residents of Florida.

      (i) Lessee hereby irrevocably consents and agrees that any legal action,
suit, or proceeding arising out of or in any way in connection with this Lease
shall be instituted or brought in the courts of the State of Florida, or the
United States Courts for the District of Florida, and by execution and delivery
of this Lease, Lessee hereby irrevocably accepts and submits to, for itself and
in respect of its property, generally and unconditionally, the non-exclusive
jurisdiction of any such court, and to all proceedings in such courts. Lessee
irrevocably consents to service of any summons and/or legal process by
registered or certified United States mail, postage prepaid, to Lessee at the
address set forth in Section 24 hereof, such method of service to constitute, in
every respect, sufficient and effective service of process in any legal action
or proceeding. Nothing in this Lease shall affect the right to service of
process in any other manner permitted by law or limit the right of Lessor to
bring actions, suits or proceedings in the court of any other jurisdiction.
Lessee further agrees that final judgment against it in any such legal action,
suit or proceeding shall be conclusive and may be enforced in any other
jurisdiction, within or outside the United States of America, by suit on the
judgment, a certified or exemplified copy of which shall be conclusive evidence
of the fact and the amount of the liability. In the event legal action is taken
by Lessor or Lessee to enforce their respective rights under this Lease, all
costs and expenses, including without limitation reasonable attorneys' fees,
incurred by the prevailing party shall be paid by the non-prevailing party.

IN WITNESS WHEREOF, Lessor and Lessee have each caused this Lease to be duly
executed as of the day and year first above written and by its signature below
Lessee expressly acknowledges that this Lease may not be

<Page>

modified unless done so in a writing signed by each of the parties hereto or
their successors in interest.

WORLDXCHANGE CORP. (Lessee)

                                            By: ______________________________

                                             _________________________________
                                                       (Name & Title)

                                            Date Signed: _____________________

                                            TELECOMMUNICATIONS FINANCE GROUP
                                            OF SIEMENS CARRIER NETWORKS LLC
                                            (Lessor)

                                            By: ______________________________

                                                    JEFFREY D. BOGGS
                                            _________________________________

                                                Authorized Representative

                                            Date Signed: _____________________<Page>

                                  EXHIBIT 10.5

<Page>

                          AGREEMENT AND PLAN OF MERGER

      This AGREEMENT AND PLAN OF MERGER (the "Agreement") is dated as of April
17, 2001 by and among WebToTel, Inc., a Delaware corporation (the "Company"),
Counsel Communications LLC, a Delaware limited liability company ("Counsel"),
I-Link Incorporated, a Florida corporation (the "Purchaser"), I-Link Acquisition
Corp., a Delaware corporation (the "Merger Sub"), and the other shareholders of
the Company as listed on the signature pages hereof.

                             W I T N E S S E T H:

   WHEREAS, the respective Boards of Directors of the Company, the Purchaser and
Merger Sub have approved and adopted the merger of the Company with and into
Merger Sub on the terms and subject to the conditions set forth herein; and

     WHEREAS, pursuant to the Merger, the outstanding shares of the common
stock of the Company, $0.001 par value per share (the "Company Common Stock")
will be converted into the right to receive the consideration described below.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein,
and intending to be legally bound, the parties hereto agree as follows:

                                    ARTICLE I

                               Certain Definitions

      Section 1.1. CERTAIN DEFINITIONS.  As used in this Agreement, the
following terms have the respective meanings set forth below.

      "Affiliate" means, with respect to any Person, any other Person who,
directly or indirectly, through one or more intermediaries, controls, is
controlled by, or is under common control with, such Person. The term "control"
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise, and the terms
"controlled" and "controlling" have meanings correlative thereto.

      "Code" means the Internal Revenue Code of 1986, as amended.

      "GAAP" means generally accepted accounting principles as in effect in the
United States on the date of this Agreement.

      "Governmental Authority" means any national, federal, state, provincial,
county, municipal or local government, foreign or domestic, or the government of
any political subdivision of any of the foregoing, or any entity, authority,
agency, ministry or other similar body exercising executive, legislative,
judicial, regulatory or administrative authority or functions of or pertaining
to government, including any authority or other quasi-governmental entity
established to perform any of such functions.

      "Material Adverse Change" means, with respect to any Person, a material
adverse change in the business, financial condition or results of operations of
such Person.

      "Person" means an individual, partnership, limited liability company,
corporation, joint stock company, unincorporated organization or association,
trust or joint venture, or a governmental agency or political subdivision
thereof.

<Page>

      "Purchaser Common Stock" means the common stock, par value $0.007 per
share, of the Purchaser.

      "RESTRICTED STOCK" MEANS ANY SHARES OF COMMON STOCK OF THE PURCHASER
ISSUED IN CONNECTION WITH THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED
BY THIS AGREEMENT.

      "Securities Act" means the Securities Act of 1933 or any similar federal
statute, and the rules and regulations of the Commission thereunder, all as the
same shall be in effect at the time.

      "Taxes" means any and all taxes, charges, fees, levies or other like
assessments (and all related interest, additions to tax and penalties),
including, income, transfer, gains, gross receipts, excise, inventory, property
(real, personal or intangible), customs duty, sales, use, license, withholding
(including backup withholding), payroll, employment, capital stock or franchise
taxes and escheat liability, imposed by the United States, or any state, local
or foreign government, or any subdivision or agency of any of the foregoing,
whether computed on a unitary, combined or any other basis.

      "Tax Return" means any report, return, information reports or returns or
other information with respect to Taxes (including any attached schedules or any
amendments to such report return or other information) required to be filed with
or supplied to any taxing authority.

      Section 1.2. INTERPRETATION. Unless otherwise indicated to the contrary
herein by the context or use thereof: (i) the words, "herein," "hereto,"
"hereof" and words of similar import refer to this Agreement as a whole and not
to any particular Section or paragraph hereof; (ii) words importing the
masculine gender shall also include the feminine and neutral genders, and vice
versa; and (iii) words importing the singular shall also include the plural, and
vice versa.

                                   ARTICLE II

                                   The Merger

      Section 2.1. THE MERGER. Upon the terms and subject to the conditions of
this Agreement, at the Effective Time (as defined in Section 2.2), the Merger
Sub shall be merged with and into the Company (the "Merger") and the separate
corporate existence of the Merger Sub shall thereupon cease. The Company shall
be the surviving corporation in the Merger and shall continue to be governed by
the Delaware General Corporation Law (the "DGCL"). The separate corporate
existence of the Company with all its rights, privileges, powers and franchises
shall continue unaffected by the Merger. The Merger shall have the effects
specified in the DGCL. From and after the Effective Time, the Company is
sometimes referred to herein as the "Surviving Corporation."

      Section 2.2. CERTIFICATE OF MERGER. On the Closing Date (as defined in
Section 2.13), the parties hereto shall cause a certificate of merger (the
"Certificate of Merger"), meeting the requirements of Section 251 of the DGCL,
to be properly executed and filed in accordance with the DGCL. The Merger shall
be effective at the time and on the date of the filing of the Certificate of
Merger in accordance with the DGCL, or at such other time and date specified in
the Certificate of Merger (the "Effective Time").

      Section 2.3. CERTIFICATE OF INCORPORATION. The Certificate of
Incorporation of the Company in effect immediately prior to the Effective Time
shall be the certificate of incorporation of the Surviving Corporation until
amended in accordance with applicable law.

      Section 2.4. BY-LAWS. The by-laws of the Company in effect immediately
prior to the Effective Time shall be the by-laws of the Surviving Corporation
until amended in accordance with applicable law.

      Section 2.5. OFFICERS. The officers of the Surviving Corporation from and
after the Effective Time shall be designated by the Purchaser and will hold
office until their successors are duly elected or appointed and qualify in the
manner provided in the certificate of incorporation or by-laws of the Surviving
Corporation or as otherwise provided by law, or until their earlier death,
resignation or removal.

<Page>

      Section 2.6. DIRECTORS. The directors of the Surviving Corporation from
and after the Effective Time shall be designated by the Purchaser and will serve
until their successors are duly elected or appointed and qualify in the manner
provided in the certificate of incorporation or by-laws of the Surviving
Corporation or as otherwise provided by law, or until their earlier death,
resignation or removal.

      Section 2.7. CONVERSION OF SHARES. The aggregate amount of consideration
payable pursuant to this Section 2.7 is hereinafter referred to as the "Merger
Consideration," and is calculated based on a $0.56 per share valuation of
Purchaser Common Stock to be delivered as the Merger Consideration (with the
result that the shareholders of the Company will own 17,454,333 shares of the
outstanding Purchaser Common Stock immediately following the Merger. Subject to
the terms and conditions of this Agreement, as of the Effective Time (and as
elected by each stockholder of the Company prior to the Effective Time), by
virtue of the Merger and without any action on the part of the Merger Sub, the
Company or the holder of any shares of the Company Common Stock, the following
shall occur:

      (a) EACH SHARE OF COMPANY COMMON STOCK ISSUED AND OUTSTANDING IMMEDIATELY
PRIOR TO THE EFFECTIVE TIME (OTHER THAN SHARES HELD IN THE COMPANY'S TREASURY),
SHALL, BY VIRTUE OF THE MERGER AND WITHOUT ANY ACTION ON THE PART OF THE HOLDERS
THEREOF, BE CONVERTED INTO THE RIGHT TO RECEIVE 0.1313 (THE "EXCHANGE RATIO") OF
A SHARE OF PURCHASER COMMON STOCK (SUBJECT TO ADJUSTMENT AS PROVIDED HEREIN),
SUCH THAT IMMEDIATELY AFTER THE EFFECTIVE TIME 17,454,333 SHARES OF THE
PURCHASER WILL BE OWNED BY THE COMPANY'S SHAREHOLDERS, AS INDICATED ON EXHIBIT A
ATTACHED HERETO.

      (b) All shares of Company Common Stock converted in accordance with
Section 2.7(a) shall, when so converted, no longer be outstanding and shall
automatically be canceled and retired and shall cease to exist, and each holder
of a certificate representing any such shares of Company Common Stock (a
"Certificate") shall cease to have any rights with respect thereto, except the
right to receive the Merger Consideration payable with respect thereto. Each
share of Company Stock held in the treasury of the Company shall, by virtue of
the Merger and without any action on the part of the holders thereof, be
canceled, retired and cease to exist and no payment shall be made with respect
thereto.

      (c) Each share of common stock of Merger Sub issued and outstanding
immediately prior to the Effective Time shall, by virtue of the Merger and
without any action on the part of Merger Sub or the Purchaser, be converted into
one share of common stock of the Surviving Corporation.

      Section 2.8. PAYMENT OF MERGER CONSIDERATION. On the Closing Date, the
Purchaser shall deliver the Merger Consideration payable to Counsel and the
other Company shareholders registered in their respective names. The Merger
Consideration is subject to adjustment as set forth in Section 2.9.

      Section 2.9. ADJUSTMENTS. In the event that, subsequent to the date of
this Agreement and prior to the Effective Time, the outstanding shares of
Purchaser Common Stock or Company Common Stock shall have been increased,
decreased, changed into or exchanged for a different number or kind of shares or
securities through reorganization, recapitalization, reclassification, stock
dividend, stock split, reverse stock split, or other like changes in the
Purchaser's or the Company's capitalization, then an appropriate and
proportionate adjustment shall be made in the terms of the consideration
provided for in this Article II.

      Section 2.10 FRACTIONAL SHARES. No fraction of a share of Purchaser Common
Stock will be issued, but in lieu thereof, each holder of shares of Company
Common Stock who would otherwise be entitled to a fraction of a share of
Purchaser Common Stock (after aggregating all fractional shares of Purchaser
Common Stock to be received by such holder) shall be entitled to receive from
Purchaser an amount of cash (rounded down to the nearest whole cent) equal to
the product of (i) such fraction, multiplied by (ii) the value ascribed to each
share of Company Common Stock pursuant to this Agreement.

      Section 2.11.     EXCHANGE OF CERTIFICATES.

<Page>

      (a) AT THE CLOSING, COUNSEL AND THE OTHER COMPANY SHAREHOLDERS SHALL
SURRENDER ITS CERTIFICATE OR CERTIFICATES, WITH SUCH STOCK POWERS EXECUTED IN
BLANK OR OTHERWISE IN PROPER FORM FOR TRANSFER TO THE PURCHASER AS THE PURCHASER
MAY REASONABLY REQUEST IN EXCHANGE FOR THE PORTION OF THE MERGER CONSIDERATION
INTO WHICH THE SHARES OF COMPANY COMMON STOCK REPRESENTED BY SUCH CERTIFICATE OR
CERTIFICATES SHALL HAVE BEEN CONVERTED PURSUANT TO THIS AGREEMENT. UPON SUCH
SURRENDER, COUNSEL AND THE OTHER COMPANY SHAREHOLDERS SHALL BE ENTITLED TO
RECEIVE IN EXCHANGE THEREFOR THE MERGER CONSIDERATION TO WHICH COUNSEL AND THE
OTHER COMPANY SHAREHOLDERS SHALL HAVE BECOME ENTITLED PURSUANT TO THE PROVISIONS
OF THIS ARTICLE II AND THE CERTIFICATE SO SURRENDERED SHALL FORTHWITH BE
CANCELED. NO INTEREST WILL BE PAID OR ACCRUED ON ANY CASH CONSTITUTING MERGER
CONSIDERATION AND ANY UNPAID DIVIDENDS AND DISTRIBUTIONS, IF ANY, PAYABLE TO
HOLDERS OF CERTIFICATES. UNTIL SURRENDERED IN ACCORDANCE WITH THE PROVISIONS OF
THIS SECTION 2.11, EACH CERTIFICATE (OTHER THAN CERTIFICATES CANCELED PURSUANT
TO SECTION 2.7(b)) SHALL REPRESENT FOR ALL PURPOSES ONLY THE RIGHT TO RECEIVE
THE MERGER CONSIDERATION PROVIDED FOR BY THIS AGREEMENT, WITHOUT INTEREST.

      (b) No dividends or other distributions declared after the Effective Time
with respect to the Purchaser Common Stock and payable to the holders of record
thereof shall be paid to the holder of any unsurrendered Certificate until the
holder thereof shall surrender such Certificate in accordance with this Article
II. After the surrender of a Certificate in accordance with this Article II, the
record holder thereof shall be entitled to receive any such dividends or other
distributions, without any interest thereon, which theretofore had become
payable with respect to shares of the Purchaser Common Stock, if any,
represented by such Certificate.

      (c) After the Effective Time, there shall be no transfers on the stock
transfer books of the Surviving Corporation of the shares of Company Common
Stock. If, after the Effective Time, Certificates are presented to the Surviving
Corporation, they shall be canceled and exchanged for the Merger Consideration
as provided for, and in accordance with, the provisions of this Section 2.11.

      (d) In the event any Certificate shall have been lost, stolen or
destroyed, upon the making of an affidavit of that fact by the person claiming
such Certificate to be lost, stolen or destroyed and, if required by the
Purchaser, the posting by such person of a bond in such amount as the Purchaser
reasonably may direct as indemnity against any claim that may be made against it
with respect to such Certificate, the Purchaser will issue in exchange for such
lost, stolen or destroyed Certificate the cash and shares of Purchaser Common
Stock deliverable in respect thereof pursuant to this Agreement.

            Section 2.12. CLOSING. The closing of the transactions contemplated
hereby (the "Closing") shall take place as soon as practicable following the
satisfaction or waiver (to the extent waivable) of the conditions set forth in
Article VI or at such other time and place (including via exchange of facsmile
documents) as the parties may agree. The time and date of the Closing is herein
referred to as the "Closing Date."

                                   ARTICLE III

             Representations and Warranties Regarding the Company

The Company hereby represents and warrants to the Purchaser and the Merger Sub
that:

      Section 3.1. ORGANIZATION AND GOOD STANDING. The Company is a corporation
duly organized, validly existing and in good standing under the laws of the
State of Delaware and has full power and authority, corporate and other, to own,
lease and operate its properties and assets and to carry on its business as
currently conducted.

      Section 3.2. AUTHORIZATION. The Company has full power and authority
(corporate and other) and legal capacity to execute and deliver this Agreement
and each other agreement, document, instrument or certificate contemplated by
this Agreement or to be executed by the Company in connection with the
consummation of the

<Page>

transactions contemplated by this Agreement (this Agreement, together with
all such other agreements, documents, instruments and certificates required
to be executed by the Company being referred to herein, collectively, as the
"COMPANY DOCUMENTS"), and to consummate the transactions contemplated hereby
and thereby. The execution, delivery and performance of this Agreement by the
Company has been duly authorized by the Board of Directors of the Company,
and no further corporate action on the part of the Company or its
shareholders is necessary to authorize this Agreement and the performance of
the transactions contemplated hereby. This Agreement has been, and each of
the other Company Documents will be at or prior to Closing, duly and validly
executed and delivered by the Company and (assuming the due authorization,
execution and delivery by the other parties hereto and thereto) this
Agreement constitutes, and each of the other Company Documents when so
executed and delivered will constitute, legal, valid and binding obligations
of the Company, enforceable against the Company in accordance with their
respective terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting creditors' rights and
remedies generally, and subject, as to enforceability, to general principles
of equity, including principles of commercial reasonableness, good faith and
fair dealing (regardless of whether enforcement is sought in a proceeding at
law or in equity).

      Section 3.3.  CAPITALIZATION. (a)  As of the date hereof:

                  (i) all of the issued and outstanding shares of capital stock
of the Company were duly authorized for issuance and are validly issued, fully
paid and non-assessable;

                  (ii) EXHIBIT A fully and accurately describes the capital
structure of the Company and, except as set forth on EXHIBIT A, there are no
outstanding securities of the Company convertible into or evidencing the right
to purchase or subscribe for any shares of capital stock of the Company, there
are no outstanding or authorized options, warrants, calls, subscription rights,
commitments or other agreements of any character requiring, and there are no
securities outstanding which upon conversion or exchange would require, the
issuance, sale or transfer of any additional shares of capital stock of the
Company or other equity securities of the Company or other securities
convertible into, exchangeable for or evidencing the right to subscribe for or
purchase shares of capital stock of the Company or other equity securities of
the Company, or any stock appreciation rights, phantom stock or similar equity
equivalent rights issued by or binding upon the Company;

                  (iii) there are no voting trusts or other voting agreements
with respect to the capital stock of the Company or other ownership interests of
the Company or any agreement relating to the issuance, sale, redemption,
transfer or other disposition of any such interests of the Company to which the
Company is a party, or of which the Company has knowledge.; and

                  (iv)  the Company controls the voting capital stock of
Nexbell Communications, Inc. ("Nexbell") and CPT-1 Holdings Inc.

      Section 3.4. CORPORATE RECORDS; CONFLICTS; CONSENTS. The execution and
delivery by the Company of this Agreement and the other Company Documents, the
consummation of the transactions contemplated hereby or thereby, or compliance
by the Company with any of the provisions hereof or thereof will not (i)
conflict with, or result in the breach of, any provision of the Articles of
Incorporation or Bylaws of the Company; (ii) conflict with, violate, result in
the breach or termination of, or constitute a default under any note, bond,
mortgage, indenture, license, agreement or other instrument or obligation to
which the Company is a party or by which the Company or its properties or assets
are bound; (iii) violate any statute, rule, regulation, order or decree of any
Governmental Authority by which the Company is bound; or (iv) result in the
creation of any Lien (except as contemplated herein) upon the properties or
assets of the Company except, in case of clauses (ii), (iii) and (iv), for such
violations, breaches or defaults as would not, individually or in the aggregate,
have a Material Adverse Change. No consent, waiver, approval, order, permit or
authorization of, or declaration or filing with, or notification to, any Person,
including without limitation any Governmental Authority, is required on the part
of the Company in connection with the execution, delivery and performance of
this Agreement or the other Company Documents, or the compliance by the Company
with any of the provisions hereof or thereof.

<Page>

      Section 3.5. REPORTS AND FINANCIAL STATEMENTS. (a) The Company and its
subsidiaries have been and are in compliance with all federal, state and local
laws, statutes, ordinances, rules and regulations (including without limitation
the Securities Act and the Securities Exchange Act of 1934, as amended) as of
the date hereof, the failure to comply with which could materially adversely
affect the business, assets, operations, earnings, prospects or condition
(financial or otherwise) of the Company or which would subject any officer or
director of the Company to civil or criminal penalties or imprisonment. The
Company has materially complied with the rules and regulations of all
governmental agencies having authority over its business or its operations,
including without limitation, agencies concerned with intra-state and interstate
commerce, occupational safety, environmental protection and employment
practices, except where the failure to comply would not have a material adverse
effect on the business, operations, earnings, assets or condition (financial or
otherwise) of the Company. The Company has no knowledge of and has not received
any notice of violation of any such rule or regulation during the two years
prior to the date hereof which could result in any liability of the Company for
penalties of damages or which could subject the Company to any injunction or
government writ, order or decree. To the best of the Company's knowledge, there
are no facts, events or conditions that could interfere with, prevent continued
compliance with or give rise to any material liability under any federal, state
or local governmental laws, statutes, ordinances or regulations applicable to
the business, operations, earnings, assets or condition (financial or otherwise)
of the Company.

            (b) The audited financial statements of Nexbell for the year ended
July 31, 2000 and any unaudited interim financial statements of Nexbell through
and including January 31, 2001 (collectively, the "COMPANY FINANCIAL
STATEMENTS") have been prepared in accordance with the United States generally
accepted accounting principles ("GAAP") applied on a basis consistent with prior
periods and fairly presented the consolidated financial position of Nexbell as
of the dates thereof (subject, in the case of unaudited interim statements to
normal year-end adjustments and the absence of certain footnote disclosures).

            (c) As of the date of this Agreement, except as set forth in the
Company Financial Statements or as previously disclosed in writing to the
Purchaser and prior to the date of this Agreement, to the Company's knowledge
neither the Company nor any of its subsidiaries is a party to or bound by (i)
any "material contract" (as such term is defined in Item 601(b)(10) of
Regulation S-K of the SEC) or (ii) any non-competition agreement or any other
agreement or arrangement that materially limits the Company or any of its
subsidiaries or any of their respective affiliates, or that would, after the
date hereof similarly limit Nexbell or the Company or any successor thereto,
from engaging or competing in any line of business or in any geographic area
after giving effect to the transactions contemplated hereby.

      Section 3.6.  ABSENCE OF UNDISCLOSED LIABILITIES; AFFILIATE TRANSACTIONS.

            (a) Except for matters reflected or reserved against in the balance
sheet as of July 31, 2000 and January 31, 2001 included in the Company Financial
Statements or as previously disclosed in writing to the Purchaser, neither the
Company nor any of the Company Subsidiaries had at such date or has incurred
since that date any liabilities, obligations (whether absolute, accrued,
contingent or otherwise) or contingencies of any nature, except (i) liabilities,
obligations or contingencies (A) which are accrued or reserved against in the
Company Financial Statements or reflected in the notes thereto or (B) which were
incurred after July 31, 2000 and January 31, 2001 in the ordinary course of
business and consistent with past practices; or (ii) liabilities, obligations or
contingencies which are of a nature not required to be reflected in the
consolidated financial statements of the Company and the Company Subsidiaries
prepared in accordance with GAAP consistently applied and which were incurred in
the ordinary course of business. The Company and its subsidiaries are current in
the payment of all taxes.

            (b) There are no other transactions, agreements, arrangements or
understandings between the Company or the Company Subsidiaries, on the one hand,
and the Company's affiliates (other than wholly-owned

<Page>

subsidiaries of the Company) or other Persons, on the other hand, that would
be required to be disclosed under Item 404 of Regulation S-K promulgated
under the Securities Act.

      Section 3.7. INTELLECTUAL PROPERTY. The Company owns, or has the right to
use (or believes, after due inquiry, that it can obtain the right to use on
reasonable commercial terms), all patents, patent applications, trademarks,
service names, trade names, copyrights, licenses, trade secrets or other
proprietary rights necessary to conduct its business as now being conducted and
as proposed to be conducted to the Company's knowledge without any conflict or
infringement of the rights of others and, except as set forth on Schedule 3.7
the Company has not received a notice that it is infringing upon or otherwise
acting adversely to the right or claimed right of any person under or with
respect to any of the foregoing, and to the Company's knowledge there is no
basis for any such claim. The Company has no patents or patent applications
issued, pending or issuable. The Company is not aware of any violation by a
third party of any of the Company's or its subsidiaries' patents, trademarks,
service marks, trade names, copyrights, trade secrets or other proprietary
rights. The Company is not aware that any of its employees is obligated under
any contract (including licenses, covenants or commitments of any nature) or
other agreement, or subject to any judgment, decree or order of any court or
administrative agency, that would interfere with their duties to the Company or
that would conflict with the Company's business as now being conducted and as
proposed to be conducted. Neither the execution nor delivery of this Agreement,
nor the conduct of the Company's business will, to the Company's knowledge,
conflict with or result in a breach of the terms, conditions or provisions of,
or constitute a default under, any contract, covenant or instrument under which
any employee is now obligated.

      Section 3.8. LEGAL PROCEEDINGS. There are no legal proceedings pending or,
to the knowledge of the Company or its Affiliates, threatened that are
reasonably likely to prohibit or restrain the ability of the Company or its
Affiliates to enter into this Agreement or consummate the transactions
contemplated hereby or which otherwise would result in a Material Adverse
Change.

      Section 3.9. NO MISREPRESENTATION. This Agreement (including the Exhibits
hereto) as of the date hereof contains no untrue statement of a material fact
nor omits a material fact necessary in order to make the statements contained
herein not misleading.

                                   ARTICLE IV

  Representations and Warranties Regarding the Purchaser and the Merger Sub

The Purchaser and the Merger Sub, jointly and severally, hereby represent and
warrant to the Company that:

      Section 4.1. ORGANIZATION AND GOOD STANDING. The Purchaser is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Florida and the Merger Sub is a corporation duly organized
existing and in good standing under the laws of Delaware. The Purchaser and
Merger Sub have full power and authority (corporate and other) to own, lease and
operate its properties and assets and to carry on their business as currently
conducted.

      Section 4.2. AUTHORIZATION. The Purchaser and Merger Sub have full power
and authority (corporate and other) and legal capacity to execute and deliver
this Agreement and each other agreement, document, instrument or certificate
contemplated by this Agreement or to be executed by the Purchaser and/or the
Merger Sub in connection with the consummation of the transactions contemplated
by this Agreement (this Agreement, together with all such other agreements,
documents, instruments and certificates required to be executed by the Purchaser
and the Merger Sub being referred to herein, collectively, as the "PURCHASER AND
MERGER SUB DOCUMENTS"), and to consummate the transactions contemplated hereby
and thereby. The execution, delivery and performance of this Agreement by the
Purchaser and the Merger Sub have been duly authorized by the Board of Directors
of the

<Page>

Purchaser and Merger Sub, and no further corporate action on the part of the
Purchaser and the Merger Sub or its shareholders is necessary to authorize this
Agreement and the performance of the transactions contemplated hereby. This
Agreement has been, and each of the other Purchaser and Merger Sub Documents
will be at or prior to Closing, duly and validly executed and delivered by the
Purchaser and the Merger Sub and (assuming the due authorization, execution and
delivery by the other parties hereto and thereto) this Agreement constitutes,
and each of the other Purchaser and the Merger Sub Documents when so executed
and delivered will constitute, legal, valid and binding obligations of the
Purchaser and the Merger Sub, enforceable against the Purchaser and the Merger
Sub in accordance with their respective terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium and similar laws affecting
creditors' rights and remedies generally, and subject, as to enforceability, to
general principles of equity, including principles of commercial
reasonableness, good faith and fair dealing (regardless of whether enforcement
is sought in a proceeding at law or in equity).

      Section 4.3.  CAPITALIZATION. (a)  As of the date hereof:

                  (i) all of the issued and outstanding shares of capital stock
of the Purchaser and the Merger Sub were duly authorized for issuance and are
validly issued, fully paid and non-assessable;

                  (ii) EXHIBIT B fully and accurately describes the capital
structure of the Purchaser and the Merger Sub and, except as set forth on
EXHIBIT B, there are no outstanding securities of the Purchaser and the Merger
Sub convertible into or evidencing the right to purchase or subscribe for any
shares of capital stock of the Purchaser and the Merger Sub, there are no
outstanding or authorized options, warrants, calls, subscription rights,
commitments or other agreements of any character requiring, and there are no
securities outstanding which upon conversion or exchange would require, the
issuance, sale or transfer of any additional shares of capital stock of the
Purchaser and the Merger Sub or other equity securities of the Purchaser and the
Merger Sub or other securities convertible into, exchangeable for or evidencing
the right to subscribe for or purchase shares of capital stock of the Purchaser
and the Merger Sub or other equity securities of the Purchaser, or any stock
appreciation rights, phantom stock or similar equity equivalent rights issued by
or binding upon the Purchaser and the Merger Sub; and

                  (ii) there are no voting trusts or other voting agreements
with respect to the capital stock of the Purchaser and/or the Merger Sub or
other ownership interests of the Purchaser and the Merger Sub or any agreement
relating to the issuance, sale, redemption, transfer or other disposition of any
such interests of the Purchaser and/or the Merger Sub to which the Purchaser
and/or the Merger Sub are parties, or of which the Purchaser and the Merger Sub
have knowledge.

(b)   Upon the consummation of the transactions contemplated hereby, all of the
      Purchaser Common Stock issued as Merger Consideration hereunder will have
      been and will be duly authorized, validly issued, fully paid and
      nonassessable, and free and clear of all liens. All shares of Purchaser
      Common Stock shall have been issued in material compliance with all
      applicable federal and state securities laws and regulations.

       Section 4.4. CORPORATE RECORDS; CONFLICTS; CONSENTS. Except as set forth
in the attached Schedule 4.4, the execution and delivery by the Purchaser and
the Merger Sub of this Agreement and the other Purchaser and the Merger Sub
Documents, the consummation of the transactions contemplated hereby or thereby,
or compliance by the Purchaser and the Merger Sub with any of the provisions
hereof or thereof will not (i) conflict with, or result in the breach of, any
provision of the Articles of Incorporation or Bylaws of the Purchaser or the
Merger Sub; (ii) conflict with, violate, result in the breach or termination of,
or constitute a default under any note, bond, mortgage, indenture, license,
agreement or other instrument or obligation to which the Purchaser or the Merger
Sub is a party or by which the Purchaser or the Merger Sub or their properties
or assets are bound; (iii) violate any statute, rule, regulation, order or
decree of any Governmental Authority by which the Purchaser and/or the Merger
Sub is bound; or (iv) result in the creation of any Lien (except as contemplated
herein) upon the properties or assets of the Purchaser and/or the Merger Sub
except, in case of clauses (ii), (iii) and (iv), for such violations, breaches
or defaults as would not, individually or in the aggregate, have a Material
Adverse Change. No consent, waiver, approval, order, permit or authorization of,
or declaration or filing with, or notification to, any Person, including without
limitation any Governmental Authority, is required on the part of the Purchaser
and/or the Merger Sub in

<Page>

connection with the execution, delivery and performance of this Agreement or
the other Purchaser and the Merger Sub Documents, or the compliance by the
Purchaser and the Merger Sub with any of the provisions hereof or thereof.

      Section 4.5.  REPORTS AND FINANCIAL STATEMENTS.

            (a) Since January 1, 1996, the Purchaser has filed with the
Securities and Exchange Commission (the "SEC") all forms, statements, reports
and documents (including all exhibits, post-effective amendments and supplements
thereto) required to be filed by it under each of the Securities Act, the
Securities Exchange Act of 1934, as amended (the "Exchange Act") and the
respective rules and regulations promulgated thereunder, all of which, as
amended (if applicable), complied in all material respects, when filed with all
applicable requirements of the appropriate act and the rules and regulations
thereunder. The Purchaser has previously delivered or made available to Company
copies (including all exhibits, post-effective amendments and supplements
thereto) of its (i) Annual Reports on Form 10-K for the years ended December 31,
2000, December 31, 1999 and December 31, 1998, as filed with the SEC; (ii)
definitive proxy and information statements relating to all meetings of its
stockholders (whether annual or special) from December 31, 1998 until the date
hereof; and (iii) all other reports, including quarterly reports, and
registration statements filed by the Purchaser with the SEC since December 31,
1998 (other than registration statements filed on Form S-8) (the documents
referred to in clauses (i), (ii) and (iii) being referred to as the "PURCHASER
SEC REPORTS"). As of their respective dates (or to the extent amended or
superseded by a subsequent filing, with respect to the information in such
subsequent filing, or as of the date of the subsequent filing), the Purchaser
SEC Reports did not or will not (as the case may be) contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The audited
consolidated financial statements of the Purchaser included in the Purchaser's
Annual Report on Form 10-K for the years ended December 31, 2000, December 31,
1999 and December 31, 1998 (collectively, the "PURCHASER FINANCIAL STATEMENTS")
have been prepared in accordance with United States generally accepted
accounting principles ("GAAP") applied on a basis consistent with prior periods
and fairly presented the consolidated financial position of the Purchaser and
the Purchaser Subsidiaries as of the dates thereof and the related consolidated
statement of operations, cash flows and stockholders' equity included in the
Purchaser SEC Reports fairly presented the consolidated results of operations of
the Purchaser and the Purchaser Subsidiaries for the respective periods then
ended (subject, in the case of unaudited interim statements to normal year-end
adjustments and the absence of certain footnote disclosures).

            (c) The audited consolidated financial statements of the Purchaser
included in the Purchaser's Annual Report on Form 10-K for the years ended
December 31, 2000, December 31, 1999 and December 31, 1998 and any interim
financial statements of the Purchaser since December 31, 2000 (collectively, the
"PURCHASER FINANCIAL STATEMENTS") have been prepared in accordance with the
United States generally accepted accounting principles ("GAAP") applied on a
basis consistent with prior periods and fairly presented the consolidated
financial position of the Purchaser as of the dates thereof and the related
consolidated statement of operations, cash flows and stockholders' equity
included in the Purchaser SEC Reports fairly presented the consolidated results
of operations of the Purchaser for the respective periods then ended (subject,
in the case of unaudited interim statements to normal year-end adjustments and
the absence of certain footnote disclosures).

            (d) As of the date of this Agreement, except as set forth in the
Purchaser's Annual Report for the year ended December 31, 2000 or in any other
Purchaser SEC Report filed since that Annual Report or as previously disclosed
in writing to the Company and prior to the date of this Agreement, neither the
Purchaser nor any of its subsidiaries is a party to or bound by (i) any
"material contract" (as such term is defined in Item 601(b)(10) of Regulation
S-K of the SEC) or (ii) any non-competition agreement or any other agreement or
arrangement that limits the Purchaser or any of its subsidiaries or any of their
respective affiliates, or that would, after the date hereof similarly limit the
Purchaser or the Company or any successor thereto, from engaging or

<Page>

competing in any line of business or in any geographic area after giving effect
to the transactions contemplated hereby.

      Section 4.6. ABSENCE OF UNDISCLOSED LIABILITIES; AFFILIATE TRANSACTIONS.

            (a) Except for matters reflected or reserved against in the balance
sheet for the period ended December 31, 2000 included in the Purchaser Financial
Statements or as previously disclosed in writing to the Company, neither the
Purchaser nor any of the Purchaser Subsidiaries (including the Merger Sub) had
at such date or has incurred since that date any liabilities, obligations
(whether absolute, accrued, contingent or otherwise) or contingencies of any
nature, except (i) liabilities, obligations or contingencies (A) which are
accrued or reserved against in the Purchaser Financial Statements or reflected
in the notes thereto or (B) which were incurred after December 31, 2000 in the
ordinary course of business and consistent with past practices; or (ii)
liabilities, obligations or contingencies which are of a nature not required to
be reflected in the consolidated financial statements of the Purchaser and the
Purchaser Subsidiaries prepared in accordance with GAAP consistently applied and
which were incurred in the ordinary course of business. The Purchaser and the
Merger Sub are current in the payment of all taxes.

            (e) Except as specifically disclosed in the Purchaser SEC Reports
filed prior to the date of this Agreement or as previously disclosed in writing
to the Company, there are no other transactions, agreements, arrangements or
understandings between the Purchaser or the Purchaser Subsidiaries (including
the Merger Sub), on the one hand, and the Purchaser's affiliates (other than
wholly-owned subsidiaries of the Purchaser) or other Persons, on the other hand,
that would be required to be disclosed under Item 404 of Regulation S-K
promulgated under the Securities Act.

      Section 4.7. INTELLECTUAL PROPERTY. The Purchaser and the Merger Sub own,
or have the right to use (or believes, after due inquiry, that it can obtain the
right to use on reasonable commercial terms), all patents, patent applications,
trademarks, service names, trade names, copyrights, licenses, trade secrets or
other proprietary rights necessary to conduct their business as now being
conducted and as proposed to be conducted to the Purchaser's and Merger Sub's
knowledge without any conflict or infringement of the rights of others and the
Purchaser, except as disclosed on Schedule 4.7, has not received a notice that
it is infringing upon or otherwise acting adversely to the right or claimed
right of any person under or with respect to any of the foregoing, and to the
Purchaser's and the Merger Sub's knowledge there is no basis for any such claim.
The Purchaser and the Merger Sub have disclosed to Counsel a complete list of
patents and pending patent applications of the Purchaser and the Merger Sub.
Neither the Purchaser nor the Merger Sub is aware of any violation by a third
party of any of the Purchaser's or Merger Sub's patents, trademarks, service
marks, trade names, copyrights, trade secrets or other proprietary rights.
Neither the Purchaser nor the Merger Sub is aware that any of its employees is
obligated under any contract (including licenses, covenants or commitments of
any nature) or other agreement, or subject to any judgment, decree or order of
any court or administrative agency, that would interfere with their duties to
the Purchaser and/or the Merger Sub or that would conflict with the Purchaser's
and the Merger Sub's business as now being conducted and as proposed to be
conducted. Neither the execution nor delivery of this Agreement, nor the conduct
of the Purchaser's and Merger Sub's businesses will, to the Purchaser's and
Merger Sub's knowledge, conflict with or result in a breach of the terms,
conditions or provisions of, or constitute a default under, any contract,
covenant or instrument under which any employee is now obligated.

      Section 4.8. LEGAL PROCEEDINGS. Except as set forth in the attached
Schedule 4.8, there are no Legal Proceedings pending or, to the knowledge of the
Purchaser and the Merger Sub, threatened that are reasonably likely to prohibit
or restrain the ability of the Purchaser and the Merger Sub to enter into this
Agreement or consummate the transactions contemplated hereby or which otherwise
would result in a Material Adverse Change.

<Page>

      Section 4.9. NO MISREPRESENTATION. Neither this Agreement (including the
Exhibits hereto), nor (as of the date hereof) any Purchaser SEC Report contains
any untrue statement of a material fact nor omits a material fact necessary in
order to make the statements contained herein or therein not misleading.

                                    ARTICLE V

                            Covenants and Agreements

      Section 5.1. ACCESS AND INFORMATION. Prior to the Closing, each of the
parties shall be entitled to make or cause to be made such investigation of the
other party hereto, and the financial and legal condition thereof, as such
investigating party deems reasonably necessary or advisable, and the other party
hereto shall cooperate with any such investigation. In furtherance of the
foregoing, but not in limitation thereof, each party shall permit the other
party hereto and its agents and representatives or cause them to be permitted to
have full and complete access to its premises, books and records upon reasonable
notice during regular business hours and shall furnish such financial and
operating data, projections, forecasts, business plans, strategic plans and
other data relating to itself and its business as the other party hereto shall
reasonably request from time to time. Prior to the Closing, the parties hereto
agree that except as otherwise required by law, any and all public announcements
or other communications concerning this Agreement and the transactions
contemplated hereby shall be subject to the prior written approval of each of
the parties hereto.

      Section 5.2. COMPANY AFFIRMATIVE COVENANTS. Prior to the Closing, except
as otherwise expressly provided herein, the Company shall, except as otherwise
contemplated by this Agreement, conduct its business only in the ordinary and
regular course of business.

      Section 5.3. COMPANY NEGATIVE COVENANTS. Prior to the Closing, without the
prior written consent of the Purchaser, except as otherwise expressly provided
herein, the Company shall not enter into any contract, agreement or commitment
(other than in the ordinary course of business) which, if entered into prior to
the date of this Agreement, would cause any representation or warranty of the
Company or Counsel to be untrue in any material respect or be required to be
disclosed on any Schedule delivered pursuant to Article III hereof.

      Section 5.4 PURCHASER AND MERGER SUB NEGATIVE COVENANTS. Prior to the
Closing, without the prior written consent of the Company, except as otherwise
expressly provided herein, the Purchaser will conduct its business only in the
ordinary and regular course of business consistent with past practices and the
Merger Sub will not conduct any material business or incur any material
liabilities.

      Section 5.5. CLOSING DOCUMENTS. The Company shall, prior to or on the
Closing Date, execute and deliver, or cause to be executed and delivered to the
Purchaser, the documents or instruments described in Section 6.2. The Purchaser
and Merger Sub shall, prior to or on the Closing Date, execute and deliver, or
cause to be executed and delivered, to the Company, the documents or instruments
described in Section 6.3.

      Section 5.6. BEST EFFORTS; FURTHER ASSURANCES. Subject to the terms and
conditions herein provided, each of the parties hereto shall use its best
efforts to take, or cause to be taken, all action, and to do, or cause to be
done, all things reasonably necessary, proper or advisable under applicable laws
and regulations to consummate and make effective the transactions contemplated
by this Agreement. Each of the parties hereto will use its respective best
efforts to obtain consents of all Governmental Authorities and third parties
necessary to the consummation of the transactions contemplated by this
Agreement. In the event that at any time after Closing any further action is
reasonably necessary to carry out the purposes of this Agreement, each of the
parties hereto shall take all such action without any further consideration
therefor.

      Section 5.7. REORGANIZATION TREATMENT. Neither the Purchaser nor the
Company shall intentionally take, or fail to take or cause to be taken or not be
taken, any action within its control, whether before or after the Effective
Time, which it has reason to believe after consultation with its advisors would
disqualify the Merger as a "reorganization" within the meaning of Section 368(a)
of the Code.

<Page>

      Section 5.8. APPROVAL BY PURCHASER. The Purchaser, in its capacity as the
sole stockholder of Merger Sub, shall vote the shares of Merger Sub to approve
and adopt the Merger, this Agreement and the transactions contemplated hereby,
and shall cause Merger Sub to take any and all actions as may be necessary or
appropriate to consummate the Merger and the other transactions contemplated
hereby in accordance with the terms hereof.

      Section 5.9. REGISTRATION RIGHT AND OTHER BENEFITS. Counsel shall be
afforded the same registration rights and other benefits with respect to the
Restricted Stock issued by the Purchaser hereunder as are set forth in the
Securities Support Agreement dated as of March ___, 2001 by and among Counsel
and the Purchaser, including the Exhibits attached thereto.

      Section 5.10 EXPENSE REIMBURSEMENT. Promptly upon demand, whether prior
to, or subsequent to, the Closing, the Purchaser hereby agrees to reimburse
Counsel and its Affiliates for their expenses in connection with this
transaction and any and all out-of-pocket expenses incurred by Counsel and its
Affiliates with respect to the Company and/or the Purchaser on an ongoing basis
in the course of their activities as Affiliates with the Purchaser, provided
however that amounts related to engagements by Counsel of third party advisors
related to activities of the Company, where such amounts are in excess of
$5,000, shall be pre-approved by the Purchaser.

                                   ARTICLE VI

                              Conditions to Closing

      Section 6.1. MUTUAL CONDITION. The respective obligations of each party to
consummate the transactions contemplated by this Agreement shall be subject to
the fulfillment at or prior to Closing of the condition that no Governmental
Authority of competent jurisdiction shall have (i) enacted, issued, promulgated,
enforced or entered any statute, rule, regulation, judgment, decree, injunction
or other order which is in effect; or (ii) commenced or threatened any action or
proceeding, which in the case of either clause (i) or (ii) would prohibit
consummation of the transactions contemplated by this Agreement.

      Section 6.2. CONDITIONS TO THE OBLIGATIONS OF PURCHASER AND MERGER SUB.
The obligations of the Purchaser and Merger Sub to consummate the transactions
contemplated by this Agreement shall be subject to the fulfillment prior to or
at Closing of each of the following conditions:

      (a) All representations and warranties made by the Company and Counsel in
this Agreement and the Schedules hereto shall be true, correct and complete on
the date hereof and as of the Closing Date as though such representations and
warranties were made as of the Closing Date (except for representations and
warranties made as of a specified date, which shall have been true, correct and
complete as of such specified date), and the Company shall have duly performed
or complied with all of the covenants, obligations and conditions to be
performed or complied with by them under the terms of this Agreement on or prior
to or at Closing.

      (b) The Purchaser shall have received a certificate from the Secretary or
the Assistant Secretary of the Company in form reasonably satisfactory to the
Purchaser attesting to the matters described in clause (a) above.

      (c) The Company shall have delivered such other closing documents as shall
be requested by the Purchaser in form and substance reasonably acceptable to the
Purchaser's counsel, including the following:

            (i) a certificate of the Secretary or Assistant Secretary of the
Company, dated the Closing Date, as to the incumbency of any officer of the
Company executing this Agreement or any document related thereto and covering
such other matters as the Purchaser may reasonably request;

        (ii) a certified copy of (A) the Certificate of Incorporation and
by-laws of the Company and all amendments thereto, (B) the resolutions of the
Company's Board of Directors

<Page>

authorizing the execution, delivery and consummation of this Agreement and the
transactions contemplated hereby and thereby and (C) the written consent of a
majority of the holders of Company Common Stock authorizing the execution,
delivery and consummation of this Agreement and the Merger;

            (iii) such other documents or instruments as the Purchaser
reasonably requests to effect the authorization and validity of the transactions
contemplated hereby.

      Section 6.3. CONDITIONS TO THE OBLIGATIONS OF THE COMPANY. The obligations
of the Company to consummate the transactions contemplated by this Agreement
shall be subject to the fulfillment at or prior to the Closing of each of the
following conditions:

      (a) All representations and warranties made by the Purchaser and Merger
Sub in this Agreement shall be true, correct and complete on the date hereof and
as of the Closing Date as though such representations and warranties were made
as of the Closing Date except for representations and warranties as of a
specified date, which shall have been true, correct and complete as of such
specified date), and the Purchaser and Merger Sub shall have duly performed or
complied with all of the covenants, obligations and conditions to be performed
or complied with by it under the terms of this Agreement on or prior to or at
the Closing.

      (b) The Company shall have received a certificate from a duly authorized
officer of the Purchaser and the Merger Sub in form reasonably satisfactory to
the Company attesting to the matters described in clause (a) above.

      (c) Prior to or at the Closing, the Purchaser and the Merger Sub shall
have delivered to the Company such closing documents as shall be reasonably
requested by the Company in form and substance reasonably acceptable to its
counsel, including the following:

            (i) certificates of the Secretary or Assistant Secretary of each of
the Purchaser and Merger Sub, dated the Closing Date, as to the incumbency of
any officer of the Purchaser or Merger Sub, as applicable, executing this
Agreement or any document related thereto and covering such other matters as the
Company may reasonably request;

            (ii) certified copies of (1) the Certificate of Incorporation and
by-laws of each of the Purchaser and Merger Sub and all amendments thereto, and
(2) the resolutions of the Board of Directors of each of the Purchaser and
Merger Sub authorizing the execution, delivery and consummation of this
Agreement and the transactions contemplated hereby and thereby; and

            (iii)such other documents or instruments as the Company reasonably
requests to effect the transactions contemplated hereby.

                                   ARTICLE VII

                                   Termination

      Section 7.1.      TERMINATION.  This Agreement may be terminated at any
time prior to Closing as follows:

      (a)   by joint consent of the Company and the Purchaser;

      (b) by the Company, if the Purchaser or Merger Sub shall breach in any
material respect any of their respective representations, warranties or
obligations contained in this Agreement;

      (c) by the Purchaser if the Company and Counsel shall breach in any
material respect any of their

<Page>

respective representations, warranties or obligations contained in this
Agreement;

      (d) by either the Purchaser or the Company, if any authorization, consent,
waiver or approval required for the consummation of the transactions
contemplated hereby shall impose any condition or requirement, which condition
or requirement such party determines, in its good faith judgment, to be
materially burdensome or to deny to such party in any material respect the
benefits intended to be obtained by such party pursuant to the transactions
contemplated by this Agreement; or

   (e) by either the Purchaser or the Company if the transactions contemplated
by this Agreement shall not have been consummated on or before the date that is
ninety (90) days from the date of this Agreement (or such later date as may be
agreed upon in writing by the parties hereto).

      Section 7.1. EFFECT OF TERMINATION. If this Agreement is terminated
pursuant to Section 7.1 hereof, all rights and obligations of the parties
hereunder shall terminate and no party shall have any liability to the other
party, except for obligations of the parties hereto in Sections 5.1 and 9.2,
which shall survive the termination of this Agreement, and except nothing herein
will relieve any party from liability for any breach of any representation,
warranty, agreement or covenant contained herein prior to such termination.

                                  ARTICLE VIII

         Survival of Representations and Warranties; Indemnification

      Section 8.1. SURVIVAL OF REPRESENTATIONS AND WARRANTIES. The
representations and warranties provided for in this Agreement shall survive the
Closing for a period of three (3) years (the "Survival Period").

      Section 8.2. INDEMNIFICATION. (a) Counsel shall indemnify and hold
harmless the Purchaser, its Affiliates, officers, directors, employees, agents,
counsel and representatives, and any Person claiming by or through any of them,
against and in respect of any and all claims, costs, expenses, damages,
liabilities, losses or deficiencies (including, without limitation, counsel's
fees and other costs and expenses incident to any suit, action or proceeding)
(the "Damages") arising out of, resulting from or incurred in connection with
any inaccuracy in any representation or the breach of any warranty made by the
Company in this Agreement for the applicable Survival Period (disregarding, for
this purpose, any materiality limitation contained therein).

      (b) The Purchaser shall indemnify and hold harmless, each of the Company
and Counsel and the other holders of Company Common Stock, their respective
Affiliates, agents , counsel and representatives, and any Person claiming by or
through any of them, against and in respect of any and all Damages arising out
of, resulting from or incurred in connection with (i) any inaccuracy in any
representation or the breach of any warranty made by the Purchaser; or the
Merger Sub in this Agreement for the applicable Survival Period, (disregarding,
for this purpose, any materiality limitation contained therein), or (ii) the
breach by the Purchaser or the Merger Sub of any covenant or agreement to be
performed by either of them hereunder.

      (c) Any Person providing indemnification pursuant to the provisions of
this Section 8.2 is hereinafter referred to as an "Indemnifying Party" and any
Person entitled to be indemnified pursuant to the provisions of this Section 8.2
is hereinafter referred to as an "Indemnified Party."

      Section 8.3. PROCEDURES FOR THIRD PARTY CLAIMS. In the case of any claim
for indemnification arising from a claim of a third party (a "Third Party
Claim"), an Indemnified Party shall give prompt written notice to the
Indemnifying Party of any claim or demand of which such Indemnified Party has
knowledge and as to which it may request indemnification hereunder.
Notwithstanding the provisions of this Section 8.3, the Indemnifying Party's and
its Affiliates' aggregate liability for any such Third Party Claim shall in any
event be limited to the amount set forth in Section 8.4 of this Agreement. The
Indemnifying Party shall have the right to defend and to direct the defense
against any such Third Party Claim, in its name or in the name of the
Indemnified Party, as the case may be, at the expense of the Indemnifying Party,
and with counsel selected by the Indemnifying Party unless (i) such Third Party

<Page>

Claim seeks an order, injunction or other equitable relief against the
Indemnified Party, or (ii) the Indemnified Party shall have reasonably concluded
that (x) there is a conflict of interest between the Indemnified Party and the
Indemnifying Party in the conduct of the defense of such Third Party Claim or
(y) the Indemnified Party has one or more defenses not available to the
Indemnifying Party. Notwithstanding anything in this Agreement to the contrary,
the Indemnified Party shall, at the expense of the Indemnifying Party, cooperate
with the Indemnifying Party, and keep the Indemnifying Party fully informed, in
the defense of such Third Party Claim. The Indemnified Party shall have the
right to participate in the defense of any Third Party Claim with counsel
employed at its own expense; PROVIDED, HOWEVER, that, in the case of any Third
Party Claim described in clause (i) or (ii) of the second preceding sentence or
as to which the Indemnifying Party shall not in fact have employed counsel to
assume the defense of such Third Party Claim, the reasonable fees and
disbursements of such counsel shall be at the expense of the Indemnifying Party.
The Indemnifying Party shall have no indemnification obligations with respect to
any Third Party Claim which shall be settled by the Indemnified Party without
the prior written consent of the Indemnifying Party, which consent shall not be
unreasonably withheld or delayed.

      Section 8.4. PROCEDURES FOR INTER-PARTY CLAIMS. In the event that an
Indemnified Party determines that it has a claim for Damages against an
Indemnifying Party hereunder (other than as a result of a Third Party Claim),
the Indemnified Party shall give prompt written notice thereof to the
Indemnifying Party, specifying the amount of such claim and any relevant facts
and circumstances relating thereto. The Indemnified Party shall provide the
Indemnifying Party with reasonable access to its books and records for the
purpose of allowing the Indemnifying Party a reasonable opportunity to verify
any such claim for Damages. The Indemnified Party and the Indemnifying Party
shall negotiate in good faith regarding the resolution of any disputed claims
for Damages. Promptly following the final determination of the amount of any
Damages claimed by the Indemnified Party, the Indemnifying Party shall pay such
Damages to the Indemnified Party by wire transfer or check made payable to the
order of the Indemnified Party, without interest. In the event that the
Indemnified Party is required to institute legal proceedings in order to recover
Damages hereunder, the cost of such proceedings (including costs of
investigation and reasonable attorneys' fees and disbursements) shall be added
to the amount of Damages payable to the Indemnified Party. No Indemnifying
Party's and its Affiliates' aggregate liability, i.e. the amount of Damages
payable, under this Section 8.4, shall exceed $ (excluding (i) liabilities for
taxes (ii) liabilities arising from knowing misrepresentations or fraud and
(iii) claims for breach of the representations and warranties contained in
Section 3.5).

      Section 8.5. PAYMENT OF DAMAGES. To the extent that Counsel is liable for
any Damages as the Indemnifying Party hereunder, such Damages be shall be funded
solely from Merger Shares returned by Counsel in an amount such that the total
Merger Shares so returned by Counsel shall equal the amount of such Damages,
with the value of such shares to be the higher of the fair market value thereof
or $0.56 per share.

                                   ARTICLE IX

                                  Miscellaneous

      Section 9.1. NOTICES. All notices or other communications required or
permitted hereunder shall be in writing and shall be delivered personally, by
facsimile or sent by certified, registered or express air mail, postage prepaid,
and shall be deemed given when so delivered personally, or by facsimile, or if
mailed, five days after the date of mailing, as follows:

<Table>
<S>                     <C>
If to the Purchaser:    I-Link Incorporated
                        13751 S. Wadsworth Park Drive Suite 200
                        Draper, Utah 84020
                        Telephone: (801) 576-5000
                        Facsimile: (801) 576 4295
                        Attention: John Edwards, President

With a copy to:         De Martino Finkelstein Rosen & Virga

<Page>

                        Suite 400, 1818 N Street, N.W.
                        Washington, District of Columbia 20036
                        Telephone: (202)659-0494
                        Facsimile: (202) 659-1290
                        Attention: Ralph De Martino

If to the Company:      WebToTel Inc.
                        c/o Counsel Corporation
                        280 Park Avenue, 28th Floor
                        New York, New York 10017
                        Telephone: (212) 286-5000
                        Facsimile: (212) 867-3226
                        Attention:  Allan Silber, Chairman

With a copy to:         Wollmuth Maher & Deutsch LLP
                        500 Fifth Avenue, Suite 1200
                        New York, New York  10110
                        Telephone: (212) 382-3300
                        Facsimile: (212) 382-0050
                        Attention: Mason H. Drake, Esq.
</Table>

or to such other address as any party hereto shall notify the other parties
hereto (as provided above) from time to time.

      Section 9.2. EXPENSES. Except as otherwise specifically provided in this
Agreement (including, without limitation, Section 5.10 hereof, which provides
for payment by the Purchaser of Counsel's and its Affiliates' expenses), each
party will pay its own expenses incident to this Agreement and the transactions
contemplated hereby, including legal and accounting fees and disbursements. Any
payments for sales, transfer or other taxes or fees applicable to the conveyance
and transfer to the holders of Company Common Stock of the Merger Consideration
shall be borne by the Purchaser. The provisions of this Section shall survive
any termination of this Agreement.

      Section 9.3. GOVERNING LAW; CONSENT TO JURISDICTION. This Agreement shall
be governed by, and construed in accordance with, the internal laws of the State
of Delaware, without reference to the choice of law principles thereof. Each of
the parties hereto irrevocably submits to the non-exclusive jurisdiction of the
courts of the State of Delaware and the United States District Court for the
District of Delaware for the purpose of any suit, action, proceeding or judgment
relating to or arising out of this Agreement and the transactions contemplated
hereby. Service of process in connection with any such suit, action or
proceeding may be served on each party hereto anywhere in the world by the same
methods as are specified for the giving of notices under this Agreement. Each of
the parties hereto irrevocably consents to the jurisdiction of any such court in
any such suit, action or proceeding and to the laying of venue in such court.
Each party hereto irrevocably waives any objection to the laying of venue of any
such suit, action or proceeding brought in such courts and irrevocably waives
any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum.

      Section 9.4. ASSIGNMENT; SUCCESSORS AND ASSIGNS; NO THIRD PARTY RIGHTS.
Except as otherwise provided herein, this Agreement may not be assigned by
operation of law or otherwise, and any attempted assignment shall be null and
void. The Purchaser may assign all of its rights under this Agreement to any
Affiliate; PROVIDED such Affiliate assumes all of the obligations of the
Purchaser hereunder; and PROVIDED further that the Purchaser shall remain liable
for such Affiliate's failure to meet any of the obligations of Purchaser
hereunder. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, successors, assigns and legal
representatives. This Agreement shall be for the sole benefit of the parties to
this Agreement and their respective heirs, successors, assigns and legal
representatives and is not intended, nor shall be construed, to give any Person,
other than the parties hereto and their respective heirs, successors, assigns
and legal

<Page>

representatives, any legal or equitable right, remedy or claim hereunder.

      Section 9.5. COUNTERPARTS.  This Agreement may be executed in
counterparts, each of which shall be deemed an original agreement, but all of
which together shall constitute one and the same instrument.

      Section 9.6. TITLES AND HEADINGS.  The headings in this Agreement are for
reference purposes only, and shall not in any way affect the meaning or
interpretation of this Agreement.

      Section 9.7. ENTIRE AGREEMENT. This Agreement, including the Schedules
and Exhibits attached thereto, constitutes the entire agreement among the
parties with respect to the matters covered hereby and supersedes all previous
written, oral or implied understandings among them with respect to such matters.

      Section 9.8. AMENDMENT AND MODIFICATION.  This Agreement may only be
amended or modified in writing signed by the party against whom enforcement of
such amendment or modification is sought.

      Section 9.9 WAIVER. Any of the terms or conditions of this Agreement may
be waived at any time by the party or parties entitled to the benefit thereof,
but only by a writing signed by the party or parties waiving such terms or
conditions.

      Section 9.10. SEVERABILITY. The invalidity of any portion hereof shall
not affect the validity, force or effect of the remaining portions hereof. If
it is ever held that any restriction hereunder is too broad to permit
enforcement of such restriction to its fullest extent, such restriction shall
be enforced to the maximum extent permitted by law.

   Section 9.11.NO STRICT CONSTRUCTION. Each party hereto acknowledges that
this Agreement has been prepared jointly by the parties hereto, and shall not
be strictly construed against either party.

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

<Page>

                                    I-LINK INCORPORATED

                                    By:______________________________
                                    Title:

                                    I-LINK ACQUISITION CORP.

                                    By:______________________________
                                    Title:

                                    WEBTOTEL INC.

                                    By:______________________________
                                    Title:

                                    COUNSEL COMMUNICATIONS LLC

                                    By:______________________________
                                    Title:

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