EXHIBIT 10.3

Summary of Amendment to John Jacquay Employment Agreement

On April 27, 2011, AboveNet, Inc. (the “Company”) and John Jacquay, the
Company’s (former) Senior Vice President for Sales and Marketing, agreed that
Mr. Jacquay would resign from his position as Senior Vice President of Sales and
Marketing as of July 15, 2011.  Mr. Jacquay will continue to be employed by the
Company and will provide services on other projects through December 31, 2011
(the “Contract Expiration Date”), at which time he will separate from the
Company.  In connection with his separation from the Company on the Contract
Expiration Date, Mr. Jacquay will forfeit any unvested stock units held by him
as of that date.  The Company and Mr. Jacquay have also agreed that his bonus
target amount for 2011 will be $304,000.  In the event that the Company achieves
the adjusted EBITDA target of $198,200,000 in 2011, Mr. Jacquay would be paid
his bonus target amount on or before March 15, 2012.

 
 

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