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Exhibit 10.27

SETTLEMENT AGREEMENT

        THIS SETTLEMENT AGREEMENT (this "Agreement") is made as of the 6 day of
December 2004, by and among Mark L. Schneider ("MLS") and chello broadband N.V.
("chello") and UnitedGlobalCom, Inc., a Delaware corporation ("UGC" and,
together with chello, the "Company").

RECITALS

        A.    The Company believes MLS is indebted to the Company in the amount
of €381,112. Such indebtedness is evidenced by a Loan Agreement dated
August 1999, between MLS and chello (the "Loan"). MLS used the proceeds from the
Loan to purchase certificates of shares of stock of chello and currently owns
41,993 share certificates of chello (the "Shares").

        B.    The Company has declared the Loan in default. MLS has asserted
that the Loan is neither in default nor currently due and payable.

        C.    The Company is holding certain funds of MLS.

        D.    The parties have agreed to resolve their dispute on this matter
without resort to litigation and desire to enter into this Agreement in full
settlement of all claims that were or could have been asserted by any party
hereto against any other party in respect of the Loan.

        E.    MLS believes he has assorted other claims regarding the loan
repayments.

AGREEMENT

        In consideration of the terms of this Agreement and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

        1.    Return of Shares; Termination of Proceeding.    

        (a)   MLS hereby surrenders, grants and turns over to the Company
ownership, possession and control of all of the Shares and the Company hereby
accepts such Shares in complete and full satisfaction of the Indebtedness. The
parties acknowledge the preceding sentence represents a purchase and sale and
settlement of their dispute and the Company does not believe that this Agreement
requires the filing of an IRS Form W-2 or 1099.

        (b)   MLS shall execute and deliver to the Company such additional
documents, instruments and agreements as may be reasonably necessary and
appropriate for the complete surrender and return of the Shares to the Company
and to vest in the Company all right, title and interest therein, including the
documents attached to this Agreement as Exhibit A.

        (c)   The Company shall pay to MLS the sum of $208,350.45, which
represents the net amount after taxes from the exercise of MLS's previously
vested SARS currently being held by the Company on MLS's behalf.

        2.    Mutual Release.    UGC and chello, for and on behalf of themselves
and their respective officers, directors, employees, shareholders, parent,
subsidiaries, affiliates, successors and assigns ("Company Releasors") hereby
release and forever discharge MLS and his representatives, heirs, successors and
assigns, from any and all claims, demands and causes of action, known and
unknown, which the Company Releasors may not have or ever had had against MLS
and his representatives, heirs, successors and assigns, arising out of the
Indebtedness, the Loan Agreement, the Loan or any other written or oral
agreement relating to the foregoing, other than the express obligations of MLS
under this Agreement. MLS, on behalf of himself, his representatives, heirs,
successors and assigns,

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hereby release and forever discharge the Company Releasors from any and all
claims, demands and causes of action, known and unknown, which MLS, his
representatives, heirs, successors or assigns, may not have or ever have had
against the Company Releasors arising out of the Indebtedness, the Loan
Agreement, the Loan or any other written or oral agreement relating to the
foregoing, other than the express obligations of the Company under this
Agreement. Each party represents that he has not made or suffered to be made at
any assignment or transfer of any claim, demand or cause of action released by
him hereunder and that he is the sole and absolute owner thereof.

        3.    Other Obligations.    Nothing in this Agreement shall be deemed to
relieve Executive of any other obligation owed by MLS to the Company or any
related entity, including but not limited to, the amounts owed by MLS under the
Promissory Note payable to the Company dated January 30, 2002 in the principle
amount of $748,500. The Company represents and warrants that all amounts
withheld by the Company as taxes or withholding under the Company's Tax
Equalization Policy from MLS's compensation for 2003 and 2004 have been paid, or
will be timely paid if not already paid, for MLS's account to the applicable
taxing authority, and the Company agrees to provide MLS with documentation of
the same sufficient to allow MLS to claim credit for such withheld taxes with
the applicable taxing authorities. The Company will provide MLS an accounting of
such withholding as soon as practicable, and any withheld amounts not paid or to
be paid timely to the applicable taxing authority shall be repaid to MLS upon
completion of such accounting. The parties acknowledge and agree that the Tax
Equalization Policy will not apply for tax years 2003 and 2004. Subject to the
three preceding sentences, each of MLS and the Company hereby releases the other
from (i) any claims arising out of any failure to pay taxes payable to any
jurisdiction during any periods, and (ii) any claims arising from the Company's
Tax Equalization Policy. The Company and MLS release each other from claims with
respect to the reimbursement by the Company of MLS's expenses on reports
submitted prior to the date of this Agreement, except for claims of fraud or
violations of the Company's Code of Business Conduct. MLS shall be entitled to
reimbursement for unreimbursed expenses incurred as an employee of the Company
for periods prior to January 1, 2005, in accordance with the Company's
reimbursement policy for executives. Apart from any claims or potential claims
described in this paragraph 3, the Company represents and warrants that it
neither has knowledge of nor suspects the existence of any claims that it has or
may have against Executive.

        4.    Informed Decision.    The parties have been represented by counsel
of their own choice throughout the action described herein and all
investigations and negotiations which have preceded the execution of this
Agreement. Each party acknowledges that it has sufficient information in order
to make an informed decision about whether to enter into this Agreement.

        5.    Entire Agreement; Amendments.    The Agreement contains the entire
agreement of the parties with respect to the matters provided for herein and
supersedes all prior agreements, whether oral or written, and all
contemporaneous oral agreements with respect to such matters. This Agreement may
be amended only with the written consent of MLS and UGC.

        6.    Governing Law and Dispute Resolution.    This Agreement shall be
governed by and construed in accordance with the laws of the State of Colorado
(excluding its conflicts of law provisions if such provisions would require
application of the laws of another jurisdiction). Any dispute arising out of or
under this Agreement shall be resolved in an arbitration proceeding brought
under the American Arbitration Association rules and procedures in effect at the
time the proceeding is initiated and shall be heard in Denver, Colorado.
Executive hereby consents to such jurisdiction and venue.

        7.    Notices.    Any notice or other communication hereunder to any
party hereto shall be by hand delivery, overnight delivery or facsimile and
unless otherwise provided herein shall be deemed to have

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been given or made when delivered or faxed, addressed to the party at its
address specified below (or at any other address that the party may hereafter
specify to the other parties in writing):

 
   
   
    The Company:   UnitedGlobalCom, Inc.
4643 South Ulster Street
Suite 1300
Denver, Colorado 80237
Attn: Legal Department
Telephone: 303 220 6633
Facsimile: 303 220 3117

chello broadband N.V.
Boeing avenue 101
1119 PE Schiphol Rijk, The Netherlands
Attn: Legal Department
Telephone: + 31207789872
Facsimile: + 31207789871
 
 
MLS:
 
Mark L. Schneider
c/o UnitedGlobalCom, Inc.
4643 South Ulster Street
Suite 1300
Denver, Colorado 80237
Telephone: 303-220-6605
Facsimile: 303-770-3464

        8.    Headings.    The headings in this Agreement are inserted for
convenience only and are in no way intended to describe, interpret, define or
limit the scope, extent or intent of this Agreement or any provision hereof.

        9.    Successors and Assigns.    Neither this Agreement nor any party's
rights or obligations hereunder may be assigned without the consent of the other
parties, which consent shall not be unreasonably withheld.

        IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement on the date first above written.

 
   
 
      UNITEDGLOBALCOM, INC.

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/s/  MARK L. SCHNEIDER      

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  By /s/  MICHAEL T. FRIES      

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Mark L. Schneider   Name Michael T. Fries

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    Title President

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    CHELLO BROADBAND
 
 
By UPC Management BV
 
 
By
/s/  GENE MUSSELMAN      

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    Title

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By
/s/  TON TUIJTEN      

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    Title

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