AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT ("Agreement") is made as of the
10th day of May, 2000 by and between ICG Communications, Inc. ("Employer" or the
"Company") and Don Teague ("Employee").
RECITALS
WHEREAS, the Company and Employee previously entered into that certain
Employment Agreement dated as of May 19, 1999, as amended August 22, 1999
("Employment Agreement");
WHEREAS, the parties desire to amend certain of the terms of the
Employment Agreement;
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, the parties agree as follows:
1. Section 3.1. Section 3.1 shall be amended to delete Section 3.1 in its
entirety and insert the following in its place:
The Company shall pay Employee during the Term of this Agreement an annual
base salary, payable bi-weekly. The annual base salary will initially be
Three Hundred Fifty Thousand and no/100 Dollars ($350,000.00).
2. Section 3.2. The last sentence of Section 3.2 shall be amended to read as
follows: "Employee's annual bonus is established at 60% of annual base
salary if all objectives and goals are met."
3. Other Terms and Conditions. All other terms and conditions of the
Employment Agreement shall remain in full force and effect, as if fully
stated herein.
4. Capitalized Terms. Capitalized and defined terms shall have the same
meaning as that accorded them in the Employment Agreement, unless the
context requires otherwise.
5. Conflict. If there are any conflicting terms or conditions between the
terms and conditions of this Amendment and the terms and conditions of the
Employment Agreement, the terms and conditions of the Amendment shall
control.
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IN WITNESS WHEREOF, each of the parties hereto has duly executed this
Amendment as of the date first written above.
ICG COMMUNICATIONS, INC.
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/s/ William S. Beans, Jr.
Name: --------------------------
President & COO
Title: --------------------------
/s/ Don Teague
--------------------------
Don Teague
