EXHIBIT 4.4
CONFIDENTIAL
Memorandum of Agreement on Settlement Rate
Of
International Telecommunications Services between
Videsh Sanchar Nigam Limited
And
MCI Worldcom
This termination Rate Agreement made by and between Videsh Sanchar Nigam Limited
(VSNL) and MCI International Inc. (MCI Worldcom) sets forth the understandings
of MCI Worldcom and VSNL with respect to termination rates and other terms and
conditions to apply to the exchange of Switched voice services between MCI
Worldcom in United States which includes Alaska, Hawaii, Puerto Rico & the US
virgin Islands and VSNL in India.
1. The term period of this agreement is from August 1, 2003 through August 31,
2003
2. Switched Voice Services referred to in this agreement shall include IDD,
ISDN, person to person, station to station, country Direct, International
800("1800") exchanged between MCI Worldcom in United states and VSNL in
India.
3. The following terms and rates shall apply to traffic exchanged between the
parties
4. Originating USA MCI Worldcom & Terminating VSNL India
A. IDDD, ISDN, Person-to-Person, Station-to-Station
Destination Code Termination Rate / Per Minute
----------- ---- -----------------------------
New Delhi 9111 [Text Redacted]
Mumbai (Bombay) 9122 [Text Redacted]
Kolkatta(Calcutta) 9133 [Text Redacted]
Chennai(Madras) 9144 [Text Redacted]
Gandhinagar 9179 [Text Redacted]
Jallandhar 91181 [Text Redacted]
Ernakulum 91484 [Text Redacted]
Hyderabad 9140 [Text Redacted]
Bangalore 9180 [Text Redacted]
Mobile 9198 [Text Redacted]
Mobile 9194 [Text Redacted]
B. [Text Redacted] [Text Redacted]
C. [Text Redacted] [Text Redacted]
D. [Text Redacted] [Text Redacted]
[Text Redacted]
HCD/Collect calls made from India would be treated as calls destined to India
and the settlement rate of [Text Redacted] per minute would be applied.
5. Minimum traffic realization: 99%
6. There would be a mixed blend of traffic to destinations indicated above and
Rest of India traffic as in the past.
7. During the duration of this agreement both parties will use commercially
reasonable efforts to maintain and grow the traffic exchanged with each
other on their mutual networks.
CONFIDENTIAL
8. The Parties agree to review and may renegotiate the settlement rate at the
end the agreement period as above
9. The settlement rate will be applied to each conversation minute of use.
Minutes of traffic upon which settlements are paid will be measured using
accumulated seconds.
The settlement of telephone traffic balances on monthly basis and the
payment cycle to conclude within 30 days after the traffic period.
10. This agreement shall be binding on both the parties upon signatures by the
duly authorized representatives of MCI Worldcom and VSNL.
MCI International, Inc. Videsh Sanchar Nigam Limited
Sd/- Sd/-
________________________________ ____________________________________
Signature Signature
Aug 28, 2003 Aug 28, 2003
________________________________ ____________________________________
Date Date
H KASSAB (RAJIV KATARIA)
HEAD (WHOLESALE BUSINESS)
________________________________ ____________________________________
Printed Name Printed Name
DIRECTOR,
________________________________ ____________________________________
Title Title