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Exhibit 10.17
SUMMARY OF PROVISION OF SERVICES TO ATX TELECOMMUNICATIONS SERVICES, INC. BY
UNIVERSITY CITY HOUSING
University City Housing, an entity controlled by Michael Karp, currently
provides general accounting, cash management, tax return preparation, payroll
and human resources services to ATX Telecommunications Services, Inc. ATX
Telecommunications Services, Inc. pays University City Housing approximately
0.38% of its gross annual receipts for providing these services. For the year
ended December 31, 1999, ATX Telecommunications Services, Inc. paid University
City Housing $501,000 for providing these services. In connection with the ATX
merger, University City Housing and post-merger CoreComm will enter into a
transition services agreement under which University City Housing will continue
to provide these services to post-merger CoreComm for a limited period of time.
The transition services agreement is more fully described in the section of the
joint proxy statement and prospectus entitled "The Merger Agreements -- The
Merger Agreement between CoreComm and ATX -- Related Agreements -- The
Transition Services Agreement."
