Employment Agreement between the Company and Mark Peters



 Exhibit 10.13 
  
 EMPLOYMENT AGREEMENT 
  
 Employment Agreement made effective as of November 1, 2003 between TIME WARNER TELECOM INC., a Delaware corporation (the “Company”), and the
employee whose name appears on the last page hereof (the “Employee”). The Company shall employ the Employee on the following terms and conditions: 
  
 1. Term. The Company hereby employs Employee and Employee hereby accepts such employment upon the terms and conditions hereof for an initial term
commencing on November 1, 2003 (the “Effective Date”) and ending, subject to renewal or termination as provided herein, on the October 31 immediately prior to the third anniversary of the Effective Date (the “Initial Term”);
provided, however, that this Agreement shall automatically continue for successive one month periods thereafter (each such period being an “Additional Term”) unless either party has delivered written notice of termination to the other
party no later than six months prior to the end of the Initial Term or 60 days prior to the end of any Additional Term. Sections 8, 10 through 22 and 24 through 28 shall survive any termination of Employee’s employment under this Agreement. The
Employee hereby covenants that as of the Effective Date any agreement between Employee and the Company, Time Warner Cable, US WEST, Inc. or MediaOne Group, Inc., respectively, or any of their affiliates, entered into prior to the date hereof,
relating to Employee’s employment with such entity, shall terminate as of, or have been terminated prior to, the Effective Date. 
  
 2. Duties. Employee shall serve as Vice President Treasurer or subject to Section 5, in such other management position as the Company shall
determine. Subject to the foregoing, Employee shall perform such duties as may be assigned by the Company to Employee from time to time, and shall travel for business purposes to the extent reasonably necessary or appropriate in the performance of
such duties. 







 Employee shall perform such duties on a full time basis (subject to the Company’s written policies
on vacations, illness, government service, etc. applicable to employees at Employee’s level in effect from time to time), provided, however, that Employee shall not be precluded from devoting such time to personal affairs as shall
not interfere with the performance of his or her duties hereunder. In performing his or her duties hereunder, Employee shall comply with the Company’s policies and procedures in effect from time to time. Unless Employee otherwise consents, the
headquarters for the performance of Employee’s services shall be the principal executive offices of the Company in the Denver, Colorado area, subject to such reasonable travel as may be appropriate or required in the performance of
Employee’s duties in the business of the Company. 
  
 3.
Compensation. The Company shall pay or cause to be paid to Employee, during the term of employment, an annual salary in respect of each calendar year at the rate of not less than $ 175,713 per annum. The Company may increase, but not
decrease, such annual salary at any time and from time to time during the term of employment. In addition to annual salary, Employee may be entitled to receive an annual bonus in respect of each calendar year based on a target percentage of the
salary paid to Employee during such calendar year of 35%. Subject to Section 5, and the second paragraph of this Section 3, Employee acknowledges that his or her actual annual bonus may vary and range from 0% to 150% of the target amount, depending
on actual performance of the Company and Employee. 
  
 Subject to
Section 5 and the second sentence of this Section 3, the Company shall determine, in its sole discretion, the amount of any salary increase, the amount of any annual bonus and whether to increase the target percentage of Employee’s annual
bonus. The payment of any bonus compensation shall be made in accordance with the Company’s then current practices and policies, including without limitation, less the usual required payroll deductions and withholding. 
  

 2 








 The Company shall pay or reimburse Employee, in accordance with Company policies applicable to employees
at Employee’s level, for all travel, entertainment and other business expenses actually incurred or paid by Employee in the performance of his or her duties hereunder, if properly substantiated and submitted. 
  
 4. Benefits. Employee shall be eligible to participate in any pension,
profit-sharing, employee stock ownership, vacation, insurance, hospitalization, medical, health, disability and other employee benefit or welfare plan, program or policy whether now existing or established hereafter (collectively, the “Benefit
Plans”), to the extent that employees at Employee’s level are generally deemed eligible under the general provisions thereof. The Company reserves the right to amend or cancel any such Benefit Plan in its sole discretion. 
  
 5. Termination by Employee Following a Change in Control. 

 
 (a) Provided that notice of termination has not previously been given
under any other Section hereof, Employee shall have the right to terminate his or her employment with the Company under this Agreement for cause upon 30 days prior written notice delivered to the Company at any time within 180 days after Employee
has actual knowledge of the occurrence of any of the following events following a Change in Control, indicating in such notice which event has occurred: 
  
 A. A change in the location of Employee’s office or of the Company’s principal executive offices to a place which is more than
50 miles from the location of Employee’s office or the location of the Company’s principal executive offices immediately prior to the occurrence of a Change in Control; 
  
 B. A material reduction in Employee’s decision-making, budgetary, operating, staff and other
responsibilities, taken as a whole, from such responsibilities immediately prior to the occurrence of a Change in Control, or a change in the person or persons to whom Employee reported immediately prior to the occurrence of a Change in Control, to
a person or persons of lesser rank, title or responsibility; or 
  

 3 








 C. Any material breach of this Agreement by the Company. 
  
 (b) Upon the expiration of the 30-day notice period provided in Section 5(a),
Employee shall be relieved of his or her management position with the Company and his or her duties hereunder. In the notice delivered by Employee to the Company pursuant to Section 5(a), Employee shall elect either (A) to terminate his or her
employment with the Company, in which case Employee shall receive: (x) subject to the terms thereof, all benefits which may be due to Employee under the provisions of any Benefit Plan; and (y) in a lump sum severance payment, within 30 days
following the effective date of such termination, the present value (using the discount rate described below) of an amount equal to the sum of the annual salary at the rate in effect on the date of termination of employment or immediately prior to
the Change in Control, whichever is greater, plus an annual bonus in a minimum amount equal to Employee’s then applicable target bonus amount or the Employee’s applicable target bonus amount in effect immediately prior to the Change in
Control, whichever is greater, for the remainder of the existing term of this Agreement, without any further renewal or continuation, provided that such amount shall be not less than the sum of such salary and bonus pro rated for a 12-month period;
or (B) to remain an employee of the Company for a period (as determined by Employee) of up to 12 months following the date notice of termination is given by Employee pursuant to Section 5(a), in which case Employee shall be relieved of his or her
management position with the Company and his or her duties hereunder, and shall (i) continue to receive both salary, based on a rate equal to his or her annual rate in effect on the date of giving notice of termination of employment or immediately
prior to the Change in Control, whichever is greater, and annual bonuses in respect of such period (in each case payable within 30 days after the end of the respective calendar year and prorated for any portion of a year), each such bonus to be
based on 
  

 4 








 an amount equal to Employee’s then applicable target bonus amount or the Employee’s applicable target bonus
amount in effect immediately prior to the Change in Control, whichever is greater, and (ii) receive a discounted lump sum payment pursuant to Section 5(b)(A)(y) for any portion of the Initial Term remaining after such period; provided,
however, that if Employee accepts full-time employment with any other corporation, partnership, trust, government or other entity (“Entity”) during such period or notifies the Company in writing of his or her intention to terminate
his or her employment during such period, Employee shall cease to be an employee of the Company effective upon the commencement of such employment, or the effective date of such termination as specified by Employee in such notice, and shall be
entitled to receive, subject to the terms thereof, all benefits due to Employee under the provisions of any Benefit Plan and a discounted lump sum cash payment for the balance of the salary and bonuses Employee would have been entitled to receive
pursuant to this Section 5(b)(B) had Employee remained on the Company’s payroll until the end of the Initial Term or such 12 month period, whichever is greater; provided, further, however, that Employee shall not be
entitled to receive any such lump sum cash payment if he or she accepts full-time employment with any subsidiary or Affiliate of the Company. For purposes of this Agreement, the term “Affiliate” shall mean an Entity which, directly or
indirectly, controls, is controlled by or is under common control with, the Company or Time Warner Inc. (“TWI”). 
  
 In addition, whether Employee elects 5(b)(A) or 5(b)(B), for a period of the earlier of one year from the date of termination of employment or the date
Employee is eligible to receive health benefits by virtue of other employment, Employee shall receive continued eligibility and enrollment (including family coverage, if any), without a premium charge there for, in hospital, medical and dental
insurance plans providing substantially equivalent benefit coverage to those plans in which Employee was enrolled immediately prior to the Change in Control unless waived in writing by Employee (or, in the event such coverage cannot be provided,
substantially similar benefits). 
  

 5 








 Any lump sum payments required to be made pursuant to this Section 5(b) shall be discounted to present
value from the times at which such amounts would have been paid absent any such termination at an annual discount rate for the relevant period equal to the “applicable Federal rate” (within the meaning of Section 1274(d) of the Internal
Revenue Code of 1986 (the “Code”)), compounded semi-annually, in effect on the date of such termination, the use of which rate is hereby elected by the Company and Employee pursuant to Treas. Reg. § 1.280G-1Q/A32 (provided that in the
event such election is not permitted, such other rate determined as of such other date as is applicable for determining present value under Section 280G of the Code shall be used). 
  
 6. Termination by Company. 
  

(a) For Cause. Provided that notice of termination has not previously been given under any other Section hereof, the Company shall have the
right to terminate Employee’s employment for cause upon written notice to Employee at any time. In such event, Employee’s employment with the Company shall terminate immediately and Employee shall be entitled to receive (i) any earned and
unpaid salary accrued through the date of such termination, and (ii) subject to the terms thereof, any benefits which may be due to Employee under the provisions of any Benefit Plan. Employee hereby disclaims any right to receive a pro rata portion
of his or her annual bonus with respect to the year in which such termination occurs. For purposes hereof, “cause” shall mean termination by action of the Company’s Board of Directors or any committee thereof because of
Employee’s conviction (treating a nolo contendere plea as a conviction) of a felony (whether or not any right to appeal has been exercised) or willful refusal without proper cause to perform his or her obligations under this Agreement or
because of Employee’s material breach of the covenants provided for in Sections 10, 11 and 12 of this Agreement. In the event (i) such termination is because of the Employee’s willful refusal without proper cause to perform any one or more
of his obligations under this Agreement, (ii) 
  

 6 








 such notice is the first such notice of termination for any reason delivered by the Company to the Employee under this
Section 6(a), and (iii) within 10 days following the date of such notice the Employee shall cease his or her refusal and shall use his or her best efforts to perform such obligations, the termination shall not be effective. 
  
 (b) Other. Provided that notice of termination has not previously been
given under any other Section hereof, the Company shall have the right at any time to terminate Employee’s employment under this Agreement without cause, by giving written notice thereof to Employee. 
  
 (i) If such notice is so given to Employee, Employee shall be entitled to
receive, subject to the terms thereof, all benefits which may be due to Employee under the provisions of any Benefit Plan and to elect, within 30 days after receiving such notice, to receive either a lump sum severance payment in the amount, and
upon the terms and conditions, provided in Section 5(b)(A) and calculated as set forth in the last paragraph of Section 5(b), or to remain an employee of the Company upon the terms and conditions provided in Section 5(b)(B); provided,
however, that (i) any reference therein to Section 5(a) shall be deemed for purposes of this Section 6(b) to be a reference to this Section 6(b)(i), and (ii) if a Change in Control has not occurred, then (x) Employee’s salary shall be
determined with reference to his or her then current annual salary and (y) Employee’s annual bonus shall equal at least the Employee’s target amount immediately prior to Employee’s termination under this Section 6(b)(i). 

 
 (ii) For the period beginning when Employee receives notice of termination from the
Company pursuant to this Section 6(b), and ending six months thereafter, Employee will, without charge to Employee, have use of reasonable office space and reasonable office facilities at Employee’s principal job location immediately prior to
his or her termination of employment, or other location reasonably close to such location, together with reasonable secretarial services in each case appropriate to an employee of Employee’s position and responsibilities prior to such
termination of employment but taking into account Employee’s reduced need for such office 
  

 7 








 space and secretarial services. Employee will continue to be eligible to participate in the Company’s Benefit Plans
and to receive, subject to the terms thereof, all benefits, which are received by other employees at Employee’s level thereunder other than options or similar equity-based or incentive awards. 
  
 (iii) In the event that Employee’s employment is terminated prior to
the occurrence of a Change in Control, or more than three years following a Change in Control, then, in partial consideration for the Company’s obligation to make the payments described in this Section 6(b), Employee shall execute and deliver
to the Company a release in the form as set forth in Exhibit A. The Company shall deliver such release to Employee at the time the Company delivers notice of termination pursuant to this Section 6(b). Employee shall execute and deliver such release
to the Secretary of the Company within 21 days of receipt of notice of termination. If Employee shall fail to execute and deliver to the Company such release within 30 days of Employee’s receipt thereof from the Company, Employee’s
employment with the Company shall terminate effective at the end of such 30-day period and Employee shall receive, in lieu of the severance arrangements described in Section 6(b), a lump sum cash payment in an amount determined in accordance with
the personnel policies of the Company then applicable. 
  
 7.
Death; Disability. 
  
 (a) Death. If Employee shall
die while employed by the Company, Employee’s employment under this Agreement shall thereupon terminate and Employee’s estate or beneficiaries, as the case may be, shall be entitled to receive as promptly as practicable but in any event
within 30 days after reasonably satisfactory evidence of Employee’s death is received by the Company (i) any earned and unpaid salary accrued to Employee through the period ending 30 days following the date of Employee’s death and a pro
rata portion of the target annual bonus amount in effect immediately prior to Employee’s death; and (ii) subject to the terms thereof, any benefits which may be due to Employee’s estate or beneficiaries under the provisions of any Benefit
Plan. 
  

 8 








 (b) Disability. Provided that notice of termination has not previously been given under any
Section hereof, if employee becomes ill or is injured or disabled during the term of this Agreement such that Employee fails to perform all or substantially all the duties to be rendered hereunder and such failure continues for a period in excess of
26 consecutive weeks (a “Disability”), the Company may terminate the employment of Employee under this Agreement upon written notice to Employee at any time and thereupon Employee shall be entitled to receive (i) any earned and unpaid
salary accrued through the date of such termination; (ii) subject to the terms thereof, any benefits which may be due to Employee under the provisions of any Benefit Plan; and (iii) a lump sum cash payment equal to the sum of 75% of Employee’s
then current annual salary and then applicable target annual bonus amount prorated for a 12-month period, less the amount of any disability insurance proceeds payable to Employee under any disability insurance policy or program covering Employee.

  
 8. Stock Options and Other Incentive Awards. Upon
Employee’s termination of employment with the Company for any reason, Employee’s rights to benefits and payments under any stock options, restricted shares or other incentive plans shall be determined in accordance with the terms and
provisions of such plans and any agreements under which such stock options, restricted shares or other awards were granted. 
  
 9. Change in Control. For purposes of this Agreement, a “Change in Control” of the Company shall be deemed to have occurred at such time
as TWI, MediaOne Group, Inc. and Advance/Newhouse Partnership (and their respective affiliates) (collectively, the “Founding Stockholder”) as a group cease to have the ability to elect a majority of the Board of Directors of the Company
(other than the chief executive officer of the Company and independent directors; provided that independent directors shall be included in calculating whether the foregoing 
  

 9 








 majority requirement is satisfied if the directors’ nominated by the Founding Stockholders (and their respective
affiliates) do not constitute a majority of the committee that selects the Board of Directors’ nominees for independent representatives) and a “person” or “group” (within the meaning of Sections 13(d) and 14(d)(2) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than the Founding Stockholders and their respective affiliates) has become the ultimate “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act)
of more than 35% of the total voting power of the voting interests of the Company on a fully diluted basis and such ownership represents a greater percentage of the total voting power of the voting interests of the Company, on a fully diluted basis,
than is held by the Founding Stockholders (and their respective affiliates) as a group on such date. 
  
 10. Trade Secrets; Work Products, Etc. Except in connection with the performance of his or her duties hereunder, Employee hereby expressly
covenants and agrees that Employee will not at any time while employed by the Company or thereafter, exploit, use, sell, publish, disclose, communicate or divulge to any person or Entity, other than the Company and its subsidiaries, either directly
or indirectly, any trade secrets or confidential information, knowledge or data regarding the Company or any of its subsidiaries or Affiliates or any of their respective officers, directors or employees including, without limitation, the existence
and terms of this Agreement, other than such information, knowledge or data which has been released by the Company or such subsidiaries, Affiliates or others to the public (except that with respect to the terms of this Agreement Employee may
communicate such terms to Employee’s spouse and Employee’s attorneys and financial advisors). Notwithstanding the foregoing, Employee may disclose such trade secrets or confidential information, knowledge, data or terms when required to do
so by a court or government agency or legislative body of competent jurisdiction, provided Employee first notifies the Company orally and in writing as promptly as possible of such requirement so that the Company may either seek an appropriate
protective order or waive 
  

 10 








 compliance with the provisions of this Section, and provided further that if, in the absence of such protective order or
waiver, Employee is nevertheless, in the written opinion of his or her counsel, reasonably acceptable to the Company, addressed to and delivered to the Company, otherwise required to disclose such information to any such court, government agency or
legislative body or else stand liable for contempt or suffer other material penalty, Employee may disclose such information in such case without liability hereunder so long as such disclosure does not exceed that required by such court, government
agency or legislative body. 
  
 Employee hereby grants and assigns
to the Company all rights (including, without limitation, any copyright or patent) in the results and proceeds of all services provided by Employee hereunder and all such services shall be subject in all respects to the supervision, control and
direction of the Company. Any work in connection with such services shall be considered “work made for hire” under the Copyright Law of 1976 or any successor thereof, and the Company shall be the owner of such work as if the Company were
the author of such work. 
  
 11. Non-Compete; Solicitation.
Employee hereby expressly covenants and agrees that: (a) Employee will not at any time during the Term of employment (including any period during which Employee remains on the Company’s payroll pursuant to Section 5(b)(B)) and for a period of
one year following the effective date of a notice of termination of Employee’s employment (i.e., Employee is no longer considered an employee for payroll purposes) as provided herein, be or become an officer, director, partner or
employee of or consultant to or act in any managerial capacity with or own any equity interest in any Entity (an “Affiliated Person”) which is a “Competitive Business Entity” (as such term is defined on Exhibit B hereto);
provided, however, that (i) ownership of less than one percent (1%) of the outstanding equity securities of any Entity listed on any national securities exchange or traded on the National Association of Securities Dealers Automated
Quotation System shall not be prohibited hereby, and (ii) in the event Employee is terminated pursuant to Section 6(b) and notice of termination is 
  

 11 








 so given to Employee following the occurrence of a Change in Control, Employee is hereby permitted to accept employment
with any Founding Stockholder and such employment shall not violate the provisions of this Section 11. 
  
 (b) Employee will not at any time during the Term of employment and for a period of one year after the date Employee’s employment is terminated as
provided herein, solicit (or assist or encourage the solicitation of) any employee of the Company or any of its subsidiaries or Affiliates to work for Employee or for any Entity in which Employee owns or expects to own more than a 1% equity interest
or for which Employee serves or expects to serve as an Affiliated Person. 
  
 For the purposes of this Section 11(b), the term “solicit any employee” shall mean Employee’s contacting, or providing information to others who may be expected to contact, any employee of the Company
or any of its subsidiaries or Affiliates regarding their employment status, job satisfaction, interest in seeking employment with Employee or any Affiliated Person or any related matter, but shall not include general print advertising for personnel
or responding to an unsolicited request for a personal recommendation for or evaluation of an employee of the Company or any of its subsidiaries or Affiliates. 
  

12. Documents; Conduct. Employee hereby expressly covenants and agrees that: 
  
 (a) Following termination of Employee’s employment with the Company for any reason or at any time upon the
Company’s request, Employee will promptly return to the Company all property of the Company and its subsidiaries and Affiliates in his or her possession or control (whether maintained at his or her office, home or elsewhere), including, without
limitation, all copies of all management studies, business or strategic plans, budgets, notebooks and other printed, typed or written materials, documents, diaries, calendars and data of or relating to the Company or its subsidiaries or Affiliates
or their respective personnel or affairs; and 
  

 12 








 (b) Employee will not at any time denigrate, ridicule or intentionally criticize the Company or any of
its subsidiaries or Affiliates or any of their respective products, properties, employees, officers or directors, including, without limitation, by way of news interviews, or the expression of personal views, opinions or judgments to the news media.

  
 13. Breach by Employee. Employee hereby expressly
covenants and agrees that the Company will suffer irreparable damage in the event any provisions of Sections 10, 11 and 12 are not performed or are otherwise breached and that the Company shall be entitled as a matter of right to an injunction or
injunctions and other relief to prevent a breach or violation by Employee and to secure its enforcement of Section 10, 11 and 12 resort to such equitable relief, however, shall not constitute a waiver of any other rights or remedies which the
Company may have. 
  
 14. Representations. 
  
 (a) Employee represents and warrants to the Company that this Agreement is
legal, valid and binding upon Employee and Employee is not a party to any agreement or understanding which would prevent the fulfillment by Employee of the terms of this Agreement. Employee has consulted with his or her legal, tax, financial and
other advisors, to the extent desired, prior to execution and delivery of this Agreement. 
  
 (b) The Company represents and warrants to Employee that this Agreement is legal, valid and binding upon the Company and the Company is not a party to any agreement or understanding which would prevent the fulfillment
by the Company of the terms of this Agreement. 
  
 15.
Notice. Any notice required or permitted to be given hereunder shall be in writing (except where required to be given orally) and shall be sufficiently given or sent by registered or certified mail or delivered, in person, if to Employee at
the address set forth on the last paragraph 
  

 13 








 hereof, or at such other address as Employee shall designate by written notice to the Company, and if to the Company at
10475 Park Meadows Drive, Littleton, CO 80124, attention of the Secretary or at such other address as the Company shall designate by written notice to Employee. 
  

16. Successors and Assigns. This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other,
assign or transfer this Agreement or any right or obligations hereunder; provided however, that the provisions hereof shall inure to the benefit of, and be binding upon, any successor of the Company, whether by merger, consolidation,
transfer of all or substantially all of the assets of the Company, or otherwise. 
  
 17. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, irrespective of its conflicts of law rules, except for the By-laws
referred to in Section 26, which shall be governed by and construed and enforced in accordance with the laws of the State of Delaware. 
  
 To the extent that any applicable state or Federal law, rule or regulation confers upon Employee any greater benefit or right than that set forth in this
Agreement, such law, rule or regulation shall control in lieu of the provisions hereof relating to such benefit or right. 
  
 18. Mitigation. Employee shall have no obligation to mitigate damages in the event of termination of Employee’s employment under this
Agreement under Section 5(a), 6(b) or 7, other than as necessary to prevent the Company from losing any tax deductions to which it otherwise would have been entitled for any payments deemed to be “contingent on a change” under the Code and
any payments received by Employee hereunder shall not be offset or reduced in any way by any other earnings or payments which may be received by Employee from any source, except as provided by this Section 18. It is acknowledged and agreed that any
payment which may be made by the Company to Employee under Section 5(b), 6(b) or 7 is in the nature of severance and is not a penalty payment. 
  

 14 








 19. Withholding. All payments required to be paid by the Company to Employee under this Agreement
will be paid in accordance with the payroll practices of the Company or the terms of the Benefit Plans, as the case may be, and will be subject to withholding taxes, social security and other payroll deductions in accordance with the Company’s
policies applicable to employees at Employee’s level and the terms of the Benefit Plan. 
  
 20. Complete Understanding. This Agreement supersedes any prior contracts, understandings, discussions and agreements relating to employment between Employee, on the one hand, and the Company and its
subsidiaries and Affiliates, on the other, and constitutes the complete understanding between the parties with respect to the subject matter hereof. No statement, representation, warranty or covenant has been made by either party with respect
thereto except as expressly set forth herein. 
  
 21.
Modification; Waiver. This Agreement cannot be changed, modified or amended and no provision or requirement hereof may be waived without the consent in writing of both the parties hereto. No waiver by either party at any time of any breach by
the other party of any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Subject to Section 28, no policy, procedure or practice of the
Company whether now or hereafter in effect shall be deemed to modify, amend or supersede any provision of this Agreement except as contemplated or provided otherwise in this Agreement. 
  
 22. Headings. The headings in this Agreement are for convenience of reference only and shall not control or affect
the meaning or construction of this Agreement. 
  
 23. Use of
Likeness. The Company and TWI shall have the right to use Employee’s name, biography and likeness in connection with their respective businesses and that of their subsidiaries and Affiliates, but not for use as a direct endorsement.

  

 15 








 24. Validity. The invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
  
 25. Set-off. The Company and its subsidiaries and Affiliates shall have no right to set-off payments owed to Employee hereunder against amounts
owed or claimed to be owed by Employee to the Company or its subsidiaries or Affiliates under this Agreement or otherwise. 
  
 26. Indemnification. The Company shall indemnify Employee to no lesser extent than provided in the Company’s By-laws on the date hereof (the
provisions of which are hereby incorporated by reference herein), notwithstanding any changes or amendments to such By-laws after the date hereof adversely affecting, limiting or reducing such indemnification. 
  
 27. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 
  
 28. Changes. Subject to Section 5, the Company and its subsidiaries and Affiliates are entitled to amend, modify, terminate or otherwise change at
any time or from time to time any and all Benefit Plans and policies, practices or procedures referred to in this Agreement, and all references herein to such Benefit Plans and policies, practices and procedures shall be to such as from time to time
in effect prior to a Change in Control except as otherwise specifically herein provided. 
  
 29. Beneficiaries. Whenever this Agreement provides for any payment to the Employee’s estate, such payment may be made instead to such beneficiary or beneficiaries as the Employee may designate in writing
(using the form of Beneficiary Designation attached hereto as Exhibit C) and file with the Company. The Employee shall have the right to revoke such Beneficiary Designation and redesignate a beneficiary by filing with the Company (and any
applicable insurance company) a later dated Beneficiary Designation to such effect. 
  

 16 








 IN WITNESS WHEREOF, Employee and the Company have caused this Agreement to be executed as of the date
first above written. 
  

			
	TIME WARNER TELECOM INC.
		
	By:	 	 /s/    LARISSA HERDA





					
	 	 	Name:	 	Larissa Herda
	 	 	Title:	 	President and CEO


  
 Agreed to and accepted as of

 the date first above written 
  

			
	 /s/    MARK A. PETERS


	Name:	 	Mark A. Peters
	Title:	 	V.P., Treasurer
	
	Address for Notices:
	  


	  


	  



  
  

 17 








 EXHIBIT A 
  

RELEASE 
  
 Pursuant to the terms of the Employment Agreement made effective as of November 1, 2003 between Time Warner Telecom Inc. (the “Company”) and any
successor and the undersigned (the “Agreement”), and in consideration of the payments made to me and other benefits to be received by me pursuant thereto,
                                    , being of lawful age, do
hereby release and forever discharge the Company and its respective officers, shareholders, subsidiaries, agents, and employees, from any and all actions, causes of action, claims, or demands for general, special or punitive damages, attorneys’
fees, expenses, or other compensation, which in any way relate to or arise out of my employment with the Company or the termination of such employment, which I may now or hereafter have under any federal, state or local law, regulation or order,
including without limitation, under the Age Discrimination in Employment Act, as amended, through and including the date of this release, provided, however, that the execution of this Release shall not prevent the undersigned from
bringing a lawsuit against the Company to enforce its obligations under the Agreement or to seek damages for the breach of the Agreement by the Company. 
  
 I acknowledge that I have been given at least 21 days from the day I received a copy of this Release to sign it and that I have been advised to consult an
attorney. I understand that I have the right to revoke my consent to this Release for seven days following my signing. This Release shall not become effective or enforceable until the expiration of the seven-day period following the date it is
signed by me. 
  
 I ALSO ACKNOWLEDGE THAT BY SIGNING THIS RELEASE
I MAY BE GIVING UP VALUABLE LEGAL RIGHTS AND THAT I HAVE BEEN ADVISED TO 







 CONSULT A LAWYER BEFORE SIGNING. I further state that I have read this document and the Agreement referred to herein,
that I know the contents of both and that I have executed the same as my own free act. 
  
 WITNESS my hand this              day of
                    . 
  
 _________________________ 







 EXHIBIT B 
  
 “Competitive Business Entity” shall mean (i) any federal, state or local authority empowered to grant, renew,
modify or amend, or review the grant, renewal, modification or amendment of, franchises to operate any competitive local exchange carrier and/or Internet Service Provider or to regulate the conduct of any such business in the United States, except
that a Competitive Business Entity shall not include any such state or local authority that is so empowered with respect to franchises or regulation of any such business in a state or region in which the Company does not engage or, to the knowledge
of Employee, does not have definitive plans to engage, in the ownership, operation or management of such a business, and (ii) any Entity which is engaged, either directly or indirectly, in the ownership, operation or management of any business
providing telecommunications services to customers as a competitive local exchange carrier and/or as an Internet Service Provider in any state of the United States in which the Company engages or, to the knowledge of Employee, has definitive plans
to engage, in the ownership, operation or management of such a business. 
  
 All capitalized terms used herein shall have the meanings provided in the Employment Agreement to which this Exhibit B is attached. 







 EXHIBIT C 
  

BENEFICIARY DESIGNATION PURSUANT TO 
 EMPLOYMENT AGREEMENT 
  
 This Beneficiary Designation is
made by the undersigned employee pursuant to that certain Employment Agreement made effective as of November 1, 2003 (the “Agreement”), between Time Warner Telecom Inc., a Delaware corporation (the “Company’), and the
undersigned. 
  
 1. Primary Beneficiary or Beneficiaries. I hereby
designate the following Primary Beneficiary(ies) to receive all payments and other benefits due to me under the Agreement in the event of my death. Unless otherwise indicated, such benefits will be paid in equal shares to all designated Primary
Beneficiaries who are living or in existence at the date of my death. 
  

			
	Name(s) of Primary            Address(es)	 	 
		
	Beneficiary(ies)	 	 
	  

	 	  


	  

	 	

	  

	 	


  
 2. Contingent
Beneficiary or Beneficiaries. If none of the Primary Beneficiaries listed in Paragraph 1 above are living or in existence at the date of my death, then the following Contingent Beneficiary(ies) will receive the payments and other benefits due to
me under the Agreement. Unless otherwise indicated, such benefits will be paid in equal shares to all designated Contingent Beneficiary(ies) who are living or in existence at the date of my death. 
  

			
	Name(s) of Contingent	  	Address(es)
	Beneficiary(ies)	  	 
	  

	  	

	  

	  	

	  

	  	


  
  
  







 3. Payments to Estate. If none of the Primary Beneficiaries listed in Paragraph 1 above and one of
the Contingent Beneficiaries listed in Paragraph 2 above are living or in existence at the date of my death, then the payments and other benefits due to me under the Agreement shall be paid to my estate. 
  
 4. Effective Date of Beneficiary Designation. This Beneficiary
Designation will be effective only if it is received by the Company prior to my death. If this Beneficiary Designation is received by the Company prior to my death, it will revoke all prior Beneficiary Designations. This Beneficiary Designation may
be revoked by delivery to the Company of a subsequent, properly completed Beneficiary Designation. 
  

			
	_______________	 	____________________________________
	Date	 	 Employee

		
	__________	 	 _______________________________