Document:

<PAGE>
                                                                    Exhibit 10.1

                              EXCHANGE AGREEMENT

                                    BETWEEN

                                 RMI.NET, INC.

                                      AND

                      INTERNET COMMUNICATIONS CORPORATION

                          Dated as of March 17, 2000
<PAGE>

                              EXCHANGE AGREEMENT

          This EXCHANGE AGREEMENT, dated as of March 17, 2000 (this
"Agreement"), is made and entered into by and between RMI.NET, Inc., a Delaware
 ---------
corporation ("RMI"), and Internet Communications Corporation, a Colorado
              ---
corporation (the "Company").
                  -------

                                   RECITALS

          A.  Concurrently herewith RMI and the Company are entering into an
Agreement and Plan of Merger (the "Merger Agreement") pursuant to which a
                                   ----------------
wholly-owned subsidiary of RMI will be merged (the "Merger") with and into the
                                                    ------
Company, with the Company as the surviving entity.

          B.  As a condition to their willingness to enter into the Merger
Agreement, each of RMI and the Company has required the other party to enter
into this Agreement.

          C.  Capitalized terms used herein and not otherwise defined shall have
the respective meanings ascribed to them in the Merger Agreement.

                                   AGREEMENT

          NOW, THEREFORE, in consideration of the premises, representations,
warranties and agreements herein contained and as contained in the Merger
Agreement, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged by the parties, the parties hereto
hereby agree as follows:

                                   ARTICLE 1
                    THE EXCHANGE; ESCROW OF SHARES; CLOSING

          1.1  Signing.
               -------

               (a) Timing.  The execution of this Agreement (the "Signing")
                   ------                                         -------
     shall take place at the offices of Otten, Johnson, Robinson, Neff &
     Ragonetti, P.C., 950 Seventeenth Street, Suite 1600, Denver, Colorado
     80202, at 10:00 a.m., local time, on the date on which the Merger Agreement
     is executed by all parties thereto (the "Signing Date"), or at such other
                                              ------------
     time and place as RMI and the Company shall mutually agree upon in writing.

               (b) Delivery of RMI Exchange Shares. At or within one (1)
                   -------------------------------
     business day after the Signing, pursuant to an escrow agreement
     substantially in the form of Exhibit A attached hereto (the "Escrow
                                  ---------                       ------
     Agreement"), RMI shall deposit in escrow with Norwest Bank, Colorado,
     ---------
     National Association (the "Escrow Agent") a duly-executed stock certificate
                                ------------
     representing the RMI Exchange Shares issued in the name of the Company,
     which shares shall be held by the Escrow Agent until released in accordance
     with the terms hereof and of the Escrow Agreement. The period of time
     during which such shares are held in escrow shall be referred to herein as
     the "Escrow Period".
          -------------

               (c) Legal Opinion. At the Signing, RMI shall deliver to the
                   -------------
     Company a legal opinion regarding the validity of this Agreement, the share
     exchange contemplated herein
<PAGE>

     and the issuance of the RMI Exchange Shares, in form and substance
     reasonably satisfactory to the Company and its legal counsel.

     1.2  Closing.
          -------

          (a)  Timing.  If no Reversion has occurred, the Escrow Agent shall
               ------
     cause the RMI Exchange Shares (as defined herein) to be released and
     delivered to the Company in exchange for the issuance and delivery to RMI
     of Company Exchange Shares (as defined herein) (the "Exchange").  The
                                                          --------
     Exchange shall take place (the "Closing") at the offices of Otten, Johnson,
                                     -------
     Robinson, Neff & Ragonetti, P.C., 950 Seventeenth Street, Suite 1600,
     Denver, Colorado 80202, at 10:00 a.m., local time, on the date that is two
     (2) business days following the termination of the Escrow Period (the
     "Closing Date") or at such other time and place as RMI and the Company
      ------------
     shall mutually agree upon in writing.

          (b)  Share Exchange.
               --------------

               (i)  At the Closing, the Company shall deliver or cause to be
          delivered to RMI or to the Escrow Agent, and shall issue and sell to
          RMI and RMI shall purchase from the Company, that number of newly-
          issued shares of common stock, no par value per share, of the Company
          (the "Company Common Stock") equal to 19.9% of the Company Common
                --------------------
          Stock outstanding on the Signing Date (the "Company Exchange Shares").
                                                      -----------------------

               (ii) The purchase price (the "RMI Exchange Shares") to be
                                             -------------------
          paid for the Company Exchange Shares shall be released by the Escrow
          Agent and paid at Closing with the number of shares of RMI Common
          Stock (as hereinafter defined) equal to the product of (A) 19.9% of
          the Company Common Stock outstanding on the Signing Date multiplied by
          (B) the quotient of (i) $3.25 divided by (ii) the RMI Share Price (as
          defined herein) and rounding the result to the nearest one thousandth
          of a share.

               "RMI Common Stock" means the common stock, par value $0.001 per
                ----------------
          share, of RMI. The "RMI Share Price" means the average of the daily
                              ---------------
          closing prices per share of RMI Common Stock on the Nasdaq National
          Market for the fifteen (15) consecutive trading days ending on the
          trading day that is one (1) day prior to the Signing Date.

          (c)  Legal Opinion.  At the Closing, and as an express condition to
               -------------
     the occurrence of an Exchange hereunder, the Company shall deliver to RMI a
     legal opinion regarding the validity of this Agreement, the share exchange
     contemplated herein and the issuance of the Company Exchange Shares, in
     form and substance substantially similar in all material respects to the
     legal opinion delivered by RMI pursuant to Section 1.1(c) hereof.

                                      -2-
<PAGE>

                                   ARTICLE 2
                     REPRESENTATIONS AND WARRANTIES OF RMI

            RMI represents and warrants to the Company as follows:

          2.1  Organization, Standing and Power.  RMI is a corporation duly
               --------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the requisite corporate power and authority to carry on its
business as now being conducted.  Each Subsidiary of RMI is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction in which it is organized and has the requisite corporate power and
authority to carry on its business as now being conducted.  RMI and each of its
Subsidiaries is duly qualified to do business, and is in good standing, in each
jurisdiction where the character of its properties owned or held under lease or
the nature of its activities makes such qualification necessary, except where
the failure to be so qualified would not, individually or in the aggregate, have
a Material Adverse Effect on RMI.  For purposes of this Agreement, "Material
                                                                    --------
Adverse Change" or "Material Adverse Effect" means, when used with respect to
--------------      -----------------------
RMI, any change or effect that is or could reasonably be expected (as far as can
be reasonably foreseen at the time) to be materially adverse to the business,
assets, liabilities, results of operations, or the financial condition of RMI
and its Subsidiaries, taken as a whole.

          2.2  Authority.  RMI has all requisite corporate power and authority
               ---------
to enter into this Agreement and to consummate the transactions contemplated
hereby.  The execution and delivery of this Agreement by RMI, the consummation
by RMI of the transactions contemplated hereby and the performance by RMI of its
obligations hereunder have been duly authorized by all necessary corporate
action on the part of RMI.  This Agreement has been duly executed and delivered
by RMI and (assuming the valid authorization, execution and delivery of this
Agreement by the Company and the validity and binding effect hereof on the
Company) constitutes the valid and binding obligation of RMI enforceable against
it in accordance with its terms, except as such enforceability may be limited by
bankruptcy, insolvency, reorganization, moratorium and similar laws relating to
or affecting creditors rights generally and by general equity principles
(regardless of whether such enforceability is considered in a proceeding in
equity or at law).

          2.3  Consents and Approvals; No Violation.  The execution and delivery
               ------------------------------------
of this Agreement by RMI does not, and the consummation by RMI of the
transactions contemplated hereby will not, conflict with, or result in any
violation of or default (with or without notice or lapse of time, or both)
under, or give rise to a right of termination under, or accelerate the
performance required by, or result in the creation of any lien, security
interest, charge, increase in liability or other encumbrance upon the RMI Common
Stock or any of the assets of RMI under any provision of:

               (a) Law.  Any law, statute, rule, regulation or judicial or
                   ---
     administrative decision,

               (b) Governing Documents. The certificate of incorporation, by-
                   -------------------
     laws or any other governing document of RMI or any of its Subsidiaries,

                                      -3-
<PAGE>

               (c) Other Agreements.  Any mortgage, deed of trust, lease, note,
                   ----------------
     shareholders' agreement, bond, indenture, contract or other instrument or
     agreement, or

               (d) Legal Order.  Any judgment, order, writ, injunction or decree
                   -----------
     of any court, governmental body, administrative agency or arbitrator
     relating to RMI or any of its Subsidiaries,

other than conflicts, violations, defaults, rights of termination or Liens which
could not reasonably be expected to have a Material Adverse Effect or could not
reasonably be expected to affect materially and adversely the enforceability or
validity of this Agreement.

          2.4  RMI Common Stock to be Issued in the Exchange.  All of the shares
               ---------------------------------------------
of RMI Common Stock issuable in exchange for Company Common Stock at the Closing
in accordance with this and subject to the terms of this Agreement will be, when
so issued, duly authorized, validly issued, fully paid and nonassessable and
free and clear of any and all Liens, including Liens created by statute, RMI's
certificate of incorporation or by-laws or any agreement to which RMI is a party
or by which RMI is bound.

                                   ARTICLE 3
                 REPRESENTATIONS AND WARRANTIES OF THE COMPANY

            The Company represents and warrants to RMI as follows:

          3.1  Organization, Standing and Power.  The Company is a corporation
               --------------------------------
duly organized, validly existing and in good standing under the laws of the
State of Colorado and has the requisite corporate power and authority to carry
on its business as now being conducted.  Each Subsidiary of the Company is a
corporation duly organized, validly existing and in good standing under the laws
of the jurisdiction in which it is organized and has the requisite corporate
power and authority to carry on its business as now being conducted.  The
Company and each of its Subsidiaries is duly qualified to do business, and is in
good standing, in each jurisdiction where the character of its properties owned
or held under lease or the nature of its activities makes such qualification
necessary, except where the failure to be so qualified would not, individually
or in the aggregate, have a Material Adverse Effect on the Company.  For
purposes of this Agreement, "Material Adverse Change" or "Material Adverse
                             -----------------------      ----------------
Effect" means, when used with respect to the Company, any change or effect that
------
is or could reasonably be expected (as far as can be reasonably foreseen at the
time) to be materially adverse to the business, assets, liabilities, results of
operations, or the financial condition of the Company and its Subsidiaries,
taken as a whole.

          3.2  Authority.  The Company has all requisite corporate power and
               ---------
authority to enter into this Agreement and to consummate the transactions
contemplated hereby.  The execution and delivery of this Agreement by the
Company, the consummation by the Company of the transactions contemplated hereby
and the performance by the Company of its obligations hereunder have been duly
authorized by all necessary corporate action on the part of the Company.  This
Agreement has been duly executed and delivered by the Company and (assuming the
valid authorization, execution and delivery of this Agreement by RMI and the
validity and binding effect of the Agreement on RMI) constitutes the valid and
binding

                                      -4-
<PAGE>

obligation of the Company enforceable against the Company in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium and similar laws relating to or affecting creditors
rights generally and by general equity principles (regardless of whether such
enforceability is considered in a proceeding in equity or at law).

          3.3  Consents and Approvals; No Violation.  The execution and delivery
               ------------------------------------
of this Agreement by the Company does not, and the consummation by the Company
of the transactions contemplated hereby will not, conflict with, or result in
any violation of or default (with or without notice or lapse of time, or both)
under, or give rise to a right of termination under, or accelerate the
performance required by, or result in the creation of any lien, security
interest, charge, increase in liability or other encumbrance upon the Company
Common Stock or any of the assets of the Company under any provision of:

               (a) Law.  Any law, statute, rule, regulation or judicial or
                   ---
     administrative decision,

               (b) Governing Documents. The articles of incorporation, by-laws
                   -------------------
     or any other governing document of the Company or any of its Subsidiaries,

               (c) Other Agreements.  Any mortgage, deed of trust, lease, note,
                   ----------------
     shareholders' agreement, bond, indenture, contract or other instrument or
     agreement, or

               (d) Legal Order. Any judgment, order, writ, injunction or decree
                   -----------
     of any court, governmental body, administrative agency or arbitrator
     relating to the Company or any of its Subsidiaries,

other than conflicts, violations, defaults, rights of termination or Liens which
could not reasonably be expected to have a Material Adverse Effect or could not
reasonably be expected to affect materially and adversely the enforceability or
validity of this Agreement.

          3.4  Company Common Stock to be Issued in the Exchange.  All of the
               -------------------------------------------------
shares of Company Common Stock issuable in exchange for RMI Common Stock in
accordance with and subject to the terms of this Agreement will be, when so
issued, duly authorized, validly issued, fully paid and nonassessable and free
and clear of any Liens, including Liens created by statute, the Company's
articles of incorporation or by-laws or any agreement to which the Company is a
party or by which the Company is bound.

                                   ARTICLE 4
                            OWNERSHIP AND EXPENSES

          4.1  Ownership During Escrow Period.  During the Escrow Period, the
               ------------------------------
RMI Exchange Shares shall continue to be owned by and held in the name of RMI,
and the Company shall not be permitted to vote, sell, assign, transfer, pledge
or otherwise dispose of, encumber or exercise any rights with respect to the RMI
Exchange Shares.

          4.2  Fees and Expenses.  Except for the costs and expenses of the
               -----------------
Escrow Agent (which shall be borne equally between RMI and the Company), all
costs and expenses incurred in connection with this Agreement and the
transactions contemplated hereby, including the fees

                                      -5-
<PAGE>

and disbursements of counsel, financial advisors and accountants, shall be paid
by the party incurring such costs and expenses.

                                   ARTICLE 5
                  TERMINATION OF ESCROW, AMENDMENT AND WAIVER

          5.1  Termination of Escrow Period.  The Escrow Period shall
               ----------------------------
automatically expire and terminate upon the earlier to occur of (i) the
expiration or termination of the Merger Agreement for any reason, (ii) the
consummation of the Merger, or (iii) either of the events described in Section
5.2(a) or Section 5.2(b).  In any of these events, on or before the Closing Date
the Escrow Agent shall effect the Exchange or Reversion, as applicable, in
accordance with this Article 5.

          5.2  Escrowed Shares Returned; No Exchange.  If the Escrow Period
               -------------------------------------
expires or is terminated as a result of and only as a result of any of the
following events, the Escrow Agent shall immediately cause the RMI Exchange
Shares to be returned to RMI, whereupon no Company Exchange Shares will be
issued or delivered to RMI, no Closing shall occur, and the Exchange shall not
be effected (a "Reversion"):
                ---------

               (a) Both RMI and the Company provide mutual or simultaneous
     written notice to the Escrow Agent to cause a Reversion;

               (b) The Company, at its sole discretion, independently provides
     written notice to the Escrow Agent directing the Escrow Agent to effect a
     Reversion hereunder;

               (c) The Company, rather than RMI, terminates the Merger Agreement
     for any or for no reason other than as expressly provided below, and
     provides written notice to RMI thereof, provided that RMI or the Company
     subsequently provides such written notice of termination of the Merger
     Agreement to the Escrow Agent. Notwithstanding the foregoing, however, a
     Reversion shall not occur under this Section 5.2(c) if the notice of
     termination states that the Company has terminated the Merger Agreement:

                   (i)  pursuant to Section 7.1(c) of the Merger Agreement, due
          to a material uncured breach of a representation, warranty, covenant
          or obligations of RMI under the Merger Agreement; or

                   (ii) pursuant to Section 1.5(d) of the Merger Agreement,
          because the Closing Share Price is equal to or less than 60% of the
          Signing Share Price;

          (d) RMI, rather than the Company, terminates the Merger Agreement upon
     an uncured default by the Company under Section 4.2(b) of the Merger
     Agreement when (i) the Prohibited Action (as defined therein) would give
     rise to a financial effect on the Company in excess of $375,000; or (ii) it
     would be commercially reasonable for the Company to cure the default caused
     by such Prohibited Action; and RMI or the Company provides the Escrow Agent
     with a copy of such notice of termination; or

          (e) The Merger contemplated by the Merger Agreement is consummated.

                                      -6-
<PAGE>

          5.3  Closing; Release and Exchange of Escrowed Shares.  Unless the
               ------------------------------------------------
Escrow Agent has effected a Reversion hereunder, in which event the provisions
of Section 5.2 will apply, on the Closing Date the Closing will proceed as
described in Section 1.2 hereof.  Upon the occurrence or nonoccurrence of any
event that causes a termination of the Escrow Period but does not result in a
Reversion pursuant to Section 5.2, either party may provide written notification
to the Escrow Agent of such event, which notice shall set forth specifically the
date upon which the Closing of the Exchange shall occur.

          5.4  Voting and Transfer Rights Following Exchange.  If the Exchange
               ---------------------------------------------
is consummated in accordance with the provisions of this Agreement, the
following voting and transfer rights and restrictions will apply to the RMI
Exchange Shares and the Company Exchange Shares:

               (a) Voting Restrictions on RMI Exchange Shares. The Company
                   ------------------------------------------
     hereby grants to the board of directors of RMI, acting by majority in
     interest, the Company's irrevocable proxy and hereby appoints such board of
     directors as its attorney-in-fact to vote all of the RMI Exchange Shares
     until such shares are sold or otherwise transferred in a manner expressly
     permitted hereunder to a party other than the Company or the Controlling
     Shareholder or an affiliate of the Company or the Controlling Shareholder,
     any shareholder, officer, director, employee, consultant, or agent of the
     Company or the Controlling Shareholder or an affiliate of the Company or
     the Controlling Shareholder, or any child, spouse, parent, grandparent, or
     issue or nominee of any of them. The Company acknowledges that this proxy
     is coupled with an interest and irrevocable and agrees to take such further
     action and execute such other instruments as may be necessary to effectuate
     the intent of this irrevocable proxy.

               (b) Voting Restrictions on Company Exchange Shares. RMI hereby
                   ----------------------------------------------
     grants to the board of directors of the Company, acting by majority in
     interest, RMI's irrevocable proxy and hereby appoints such board of
     directors as its attorney-in-fact to vote all shares of Company Exchange
     Shares until such shares are sold or otherwise transferred in a manner
     expressly permitted hereunder to a party other than RMI or an affiliate of
     RMI, any shareholder, officer, director, employee, consultant, or agent of
     RMI or an affiliate of RMI, or any child, spouse, parent, grandparent, or
     issue or nominee of any of them. RMI acknowledges that this proxy is
     coupled with an interest and irrevocable and agrees to take such further
     action and execute such other instruments as may be necessary to effectuate
     the intent of this irrevocable proxy.

               (c) Transfer Restrictions on RMI Exchange Shares. The Company
                   --------------------------------------------
     agrees that during the 365-day period immediately following such Exchange
     (the "Restricted Period") it shall not and shall have no right to sell,
           -----------------
     assign, transfer, pledge or otherwise dispose of or encumber any RMI
     Exchange Shares at any time or in any manner without the prior written
     consent of RMI, provided, however, that, subject to the volume restrictions
                     -----------------
     in subsection (e) below, the Company shall have the right during such
     Restricted Period, and without RMI's prior written consent, to sell up to
     and including:

               (i) 200,000 shares of RMI Common Stock if (X) the average of the
          daily closing prices per share of RMI Common Stock on the Nasdaq
          National

                                      -7-
<PAGE>

          Market for each of any fifteen (15) consecutive trading days prior to
          any such sale is greater than or equal to 150% of the RMI Share Price
          and (Y) the sale price for such sale is greater than or equal to 150%
          of the RMI Share Price; and

               (ii) an additional 100,000 shares of RMI Common Stock if (X) the
          average of the daily closing prices per share of RMI Common Stock on
          the Nasdaq National Market for each of any fifteen (15) consecutive
          trading days prior to any such sale is greater than or equal to 200%
          of the RMI Share Price and (Y) the sale price for such sale is greater
          than or equal to 200% of the RMI Share Price.

          If the Closing of the Exchange occurs hereunder, RMI shall grant to
     the Company certain demand and piggy-back registration rights relating to
     the RMI Exchange Shares pursuant to a registration rights agreement
     substantially in the form of Exhibit C attached hereto (the "Company
                                  ---------                       -------
     Registration Rights Agreement").
     -----------------------------

          (d)  Transfer Restrictions on Company Exchange Shares.
               ------------------------------------------------

               (i)  Definitions.  For purposes of this Section 5.4(d), the term
                    -----------
          "Base Ratio" shall mean the ratio of 200,000 over the total number of
          -----------
          RMI Exchange Shares; and the term "Ceiling Ratio" shall mean the ratio
                                             -------------
          of 100,000 over the total number of RMI Exchange Shares.

               (ii) Restrictions.  RMI agrees that during the Restricted Period
                    ------------
          immediately following such Exchange it shall not and shall have no
          right to sell, assign, transfer, pledge or otherwise dispose of or
          encumber any Company Exchange Shares at any time or in any manner
          without the prior written consent of the Company; provided, however,
                                                            --------  -------
          that, subject to the volume restrictions in subsection (e) below, RMI
          shall have the right during such Restricted Period and without the
          Company's prior written consent to sell up to and including:

                    a)  that number of shares of Company Common Stock equal to
               the product of the Base Ratio times the total number of Company
               Exchange Shares; provided, however, that RMI may only sell such
               Company Common Stock under this subsection (ii)(a) if (X) the
               average of the daily closing prices per share of Company Common
               Stock on the Nasdaq SmallCap Market for each of any fifteen (15)
               consecutive trading days prior to any such sale is greater than
               or equal to $4.875, and (Y) the sale price for such sale is
               greater than or equal to $4.875; and

                    b)  an additional number of shares of Company Common Stock
               equal to the product of the Ceiling Ratio times the total number
               of Company Exchange Shares; provided, however, that RMI may only
               sell such Company Common Stock under this subsection (ii)(b) if
               (X) the average of the daily closing prices per share of Company
               Common Stock on the Nasdaq SmallCap Market for each of any
               fifteen (15) consecutive

                                      -8-
<PAGE>

               trading days prior to any such sale is greater than or equal to
               $6.50, and (Y) the sale price for such sale is greater than or
               equal to $6.50.

          If the Closing of the Exchange occurs hereunder, the Company shall
     grant to RMI certain demand and piggy-back registration rights relating to
     the Company Exchange Shares pursuant to a registration rights agreement
     substantially in the form of Exhibit B hereto (the "RMI Registration Rights
                                  ---------              -----------------------
     Agreement").
     ---------

          (e) Volume Restrictions.  Notwithstanding anything to the contrary
              -------------------
     herein, during the Restricted Period immediately following an Exchange, the
     Company shall not at any time sell RMI Exchange Shares, and RMI shall not
     sell Company Exchange Shares, on any single trading day in amounts in
     excess of five percent 5% of the average daily trading volume of RMI Common
     Stock on the Nasdaq National Market, or Company Common Stock on the Nasdaq
     SmallCap Market, as applicable, for the five (5) consecutive trading days
     prior to the date of any such sale.

          5.5  Amendment.  This Agreement may be amended by the parties hereto
               ---------
only by an instrument in writing signed on behalf of each of the parties hereto.

          5.6  Waiver.  The failure of either party hereto to enforce at any
               ------
time any of the provisions of this Agreement shall in no way be construed to be
a waiver of any such provision, nor in any way to affect the validity of this
Agreement or any part hereof or the right of such party thereafter to enforce
each and every such provision.  No waiver of any breach of or non-compliance
with this Agreement shall be held to be a waiver of any other or subsequent
breach or non-compliance.

          5.7  Survival.  The terms and conditions of this Article 5 will
               --------
survive the expiration or termination of the Escrow Period for any reason.

                                   ARTICLE 6
                              GENERAL PROVISIONS

          6.1  Survival of Representations and Warranties; No Other
               ----------------------------------------------------
Representations and Warranties.  The representations and warranties in this
------------------------------
Agreement or in any instrument delivered pursuant to this Agreement shall
terminate upon the expiration or termination of the Escrow Period pursuant to
Section 5.1 hereof.  Each party hereto agrees that, except for the
representations and warranties contained in this Agreement, neither the Company
nor RMI makes any other representations and warranties, and each hereby
disclaims any other representations and warranties made by itself or any of its
officers, directors, employees, agents, financial and legal advisors or other
representatives, with respect to the execution and delivery of this Agreement,
the documents and the instruments referred to herein, or the transactions
contemplated hereby or thereby, notwithstanding the delivery or disclosure to
the other party or the other party's representatives of any documentation or
other information with respect to any one or more of the foregoing.

          6.2  Notices.  All notices and other communications hereunder shall be
               -------
in writing and shall be deemed given when delivered personally, one day after
being delivered to an overnight

                                      -9-
<PAGE>

courier to the parties at the following addresses (or at such other address for
a party as shall be specified by like notice):

          (a)  RMI.  If to RMI, to:
               ---

                    RMI.NET, Inc.
                    988 - 18/th/ Street, suite 2201
                    Denver, Colorado 80202
                    Attention:  Chris J. Melcher, Vice President and General
                    Counsel

          with a copy to:

                    Otten, Johnson, Robinson, Neff & Ragonetti, P.C.
                    950 - 17/th/ Street, Suite 1600
                    Denver, Colorado 80202
                    Attention:  Neil M. Goff, Esq.

                    Brownstein, Hyatt & Farber, P.C.
                    410 - 17/th/ Street, 22/nd/ Floor
                    Denver, Colorado 80202
                    Attention: Jeffrey M. Knetsch, Esq.

          (b)  Company.  If to the Company, to:
               -------

                    Internet Communications Corporation
                    7100 East Bellview Avenue, Suite 201
                    Greenwood Village, Colorado 80111
                    Attention: President

          with a copy to:

                    Hogan & Hartson L.L.P.
                    One Tabor Center, Suite 1500
                    1200 Seventeenth Street
                    Denver, Colorado 80202
                    Attention: Steven A. Cohen, Esq.

          6.3  Interpretation.
               --------------

               (a) Headings.  When a reference is made in this Agreement to a
                   --------
     Section, such reference shall be to a Section of this Agreement unless
     otherwise indicated.  The table of contents and headings contained in this
     Agreement are for convenience of reference only and shall not affect in any
     way the meaning or interpretation of this Agreement.  Whenever the words
     "include," "includes" or "including" are used in this Agreement, they shall
     be deemed to be followed by the words "without limitation."

                                     -10-
<PAGE>

          (b) "Subsidiary" means any corporation, partnership, limited liability
               ----------
     company, joint venture or other legal entity of which RMI or Company, as
     the case may be (either alone or through or together with any other
     Subsidiary), owns or controls, directly or indirectly, 50% or more of the
     stock or other equity interests the holders of which are generally entitled
     to vote for the election of the board of directors or other governing body
     of such corporation, partnership, limited liability company, joint venture
     or other legal entity.

          6.4  Counterparts.  This Agreement may be executed in counterparts,
               ------------
all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the parties
and delivered to the other parties.

          6.5  Entire Agreement; No Third-Party Beneficiaries.  This Agreement
               ----------------------------------------------
constitutes the entire agreement and supersedes all prior agreements and
understandings, both written and oral, among the parties with respect to the
subject matter hereof.  This Agreement is not intended to confer upon any person
other than the parties hereto any rights or remedies hereunder.

          6.6  Governing Law.  This Agreement shall be governed by, and
               -------------
construed in accordance with, the internal laws of the State of Colorado,
without regard to conflicts of law principles thereof.

          6.7  Assignment.  Neither this Agreement nor any of the rights,
               ----------
interests or obligations hereunder may be assigned by any of the parties hereto
(whether by operation of law or otherwise) without the prior written consent of
the other parties.  Subject to the preceding sentence, this Agreement will be
binding upon, inure to the benefit of and be enforceable by the parties and
their respective successors or assigns.

          6.8  Severability.  If any term or other provision of this Agreement
               ------------
is invalid, illegal or incapable of being enforced by any rule of law, or public
policy, all other terms, conditions and provisions of this Agreement shall
nevertheless remain in full force and effect so long as the economic and legal
substance of the transactions contemplated hereby are not affected in any manner
materially adverse to any party. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties shall
negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in a mutually acceptable manner in
order that the transactions contemplated by this Agreement may be consummated as
originally contemplated to the fullest extent possible.

          6.9  Enforcement of this Agreement.  The parties hereto agree that
               -----------------------------
irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific terms or were
otherwise breached.  It is accordingly agreed that the parties hereto shall be
entitled to an injunction or injunctions to prevent breaches of this Agreement
and to enforce specifically the terms and provisions hereof, such remedy being
in addition to any other remedy to which any party is entitled at law or in
equity.  Each party hereto irrevocably submits to the exclusive jurisdiction of
the United States District Court for the District of Colorado.  Each party
hereto waives any right to a trial by jury in connection with any such action,
suit or proceeding and waives any objection based on forum non conveniens or any
other objection to venue thereof.

                                     -11-
<PAGE>

          6.10  Defined Terms.  Each of the following terms is defined in the
                -------------
Section identified below:

          Agreement..................................................  Preamble
          Base Ratio........................................  Section 5.45.4(d)
          Ceiling Ratio.....................................  Section 5.45.4(d)
          Closing.............................................   Section 1.2(a)
          Closing Date........................................   Section 1.2(a)
          Company....................................................  Preamble
          Company Common Stock.................................  Section 1.2(b)
          Company Exchange Shares..............................  Section 1.2(b)
          Company Registration Rights Agreement................  Section 5.4(c)
          Escrow Agent.........................................  Section 1.1(b)
          Escrow Agreement.....................................  Section 1.1(b)
          Escrow Period........................................  Section 1.1(b)
          Exchange.............................................  Section 1.2(a)
          Material Adverse Change............................  Section 2.1, 3.1
          Material Adverse Effect............................  Section 2.1, 3.1
          Merger....................................................   Recitals
          Merger Agreement..........................................   Recitals
          Restricted Period....................................  Section 5.4(d)
          Reversion...............................................  Section 5.2
          RMI........................................................  Preamble
          RMI Common Stock.....................................  Section 1.2(b)
          RMI Exchange Shares..................................  Section 1.2(b)
          RMI Registration Rights Agreement....................  Section 5.4(d)
          RMI Share Price......................................  Section 1.2(b)
          Signing Date.........................................  Section 1.1(a)
          Signing..............................................  Section 1.1(a)
          Subsidiary...........................................  Section 6.3(b)

          IN WITNESS WHEREOF, RMI and the Company have caused this Agreement to
be signed by their respective officers thereunto duly authorized as of the date
first above written.

                              RMI.NET, INC., a Delaware corporation

                              By:    /s/ Douglas H. Hanson
                                 ______________________________________
                              Name:  Douglas H. Hanson
                                   ____________________________________
                              Title: Chairman and CEO
                                    ___________________________________

                              INTERNET COMMUNICATIONS CORPORATION,
                              a Colorado corporation

                              By:    /s/ Tom Galley
                                 ______________________________________
                              Name:  Tom Galley
                                   ____________________________________
                              Title: President
                                    ___________________________________

                                     -12-
<PAGE>

                                   EXHIBIT A
                               ESCROW AGREEMENT
<PAGE>

                                   EXHIBIT B
                       RMI REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                   EXHIBIT C
                     COMPANY REGISTRATION RIGHTS AGREEMENT<PAGE>
                                                                    Exhibit 10.2

                             SHAREHOLDER AGREEMENT

     AGREEMENT, dated as of March __, 2000, by and among RMI.NET, Inc., a
Delaware corporation ("Parent"), Internet Communications Corporation, a Colorado
corporation (the "Company"), and Interwest Group, Inc., a Colorado corporation
("Interwest").

                                   RECITALS

     A.   Simultaneously with the execution of this Agreement, Parent, Internet
Acquisition Corporation, a Colorado corporation and wholly-owned subsidiary of
Parent ("Sub"), and the Company have entered into an Agreement and Plan of
Merger (as such agreement may hereafter be amended from time to time, the
"Merger Agreement"), pursuant to which Sub will be merged with and into the
Company (the "Merger"); and

     B.   As an inducement and a condition to entering into the Merger
Agreement, Parent has required that Interwest agree, and Interwest has agreed,
to enter into this Agreement;

     NOW, THEREFORE, in consideration of the foregoing and the mutual promises,
representations, warranties, covenants and agreements contained herein, the
parties hereto, intending to be legally bound hereby, agree as follows:

          1.   Certain Definitions.  In addition to the terms defined elsewhere
herein, capitalized terms used and not defined herein have the respective
meanings ascribed to them in the Merger Agreement.  For purposes of this
Agreement:

               (a)  "Beneficially Own" or "Beneficial Ownership" with respect to
any securities means having "beneficial ownership" of such securities as
determined pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). Without duplicative counting of the same
securities by the same holder, securities Beneficially Owned by a person
includes securities Beneficially Owned by all other persons with whom such
person would constitute a "group" within the meaning of Section 13(d) of the
Exchange Act with respect to the securities of the same issuer.

               (b)  "Existing Shares" means shares of Company Common Stock and
Company Preferred Stock Beneficially Owned by Interwest as of the date hereof.

               (c)  "Securities" means the Existing Shares together with any
shares of Company Common Stock or other securities of the Company acquired by
Interwest in any capacity after the date hereof and prior to the termination of
this Agreement whether upon the exercise of options, warrants or rights, the
conversion or exchange of convertible or exchangeable securities, or by means of
purchase, dividend, distribution, split-up,
<PAGE>

recapitalization, combination, exchange of shares or the like, gift, bequest,
inheritance or as a successor in interest in any capacity or otherwise.

          2.   Disclosure. Interwest hereby agrees to permit the Company and
Parent to publish and disclose in the Registration Statement and the Proxy
Statement (including all documents and schedules filed with the SEC), and any
press release or other disclosure document which Parent, in its sole discretion,
determines to be necessary or desirable in connection with the Merger and any
transactions related thereto, Interwest's identity and ownership of Company
Common Stock and Company Preferred Stock and the nature of Interwest's
commitments, arrangements and understandings under this Agreement. Parent will
provide Interwest with a copy of any proposed disclosure and will provide
Interwest with a reasonable opportunity to comment thereon.

          3.   Voting of Securities Prior to Effective Time. Interwest hereby
agrees that, during the period commencing on the date hereof and continuing
until the first to occur of (a) the Effective Time or (b) the date that the
Merger Agreement is terminated, at any meeting (whether annual or special and
whether or not an adjourned or postponed meeting) of the holders of Company
Common Stock or Company Preferred Stock, however called, or in connection with
any written consent of the holders of Company Common Stock or Company Preferred
Stock, Interwest will appear at the meeting or otherwise cause the Securities to
be counted as present thereat for purposes of establishing a quorum and vote or
consent (or cause to be voted or consented) the Securities (x) in favor of the
adoption of the Merger Agreement and the approval of other actions contemplated
by the Merger Agreement and this Agreement and any actions required in
furtherance thereof and hereof; (y) against any action or agreement that would
result in a breach in any respect of any covenant, representation or warranty or
any other obligation or agreement of the Company under the Merger Agreement or
this Agreement; and (z) except as otherwise agreed to in writing in advance by
Parent in its sole discretion, against the following actions: (i) any Takeover
Proposal or Superior Transaction, (ii) any change in a majority of the persons
who constitute the Board of Directors of the Company; (iii) any material change
in the present capitalization of the Company, including without limitation any
proposal to sell a substantial equity interest in the Company or its
Subsidiaries; (iv) any amendment of the Company's Certificate of Incorporation
or By-laws; (v) any other change in the Company's corporate structure or
business; or (vi) any other action that is intended, or could reasonably be
expected, to impede, interfere with, delay, postpone or materially adversely
affect the Merger and the transactions contemplated by this Agreement and the
Merger Agreement. Interwest may not enter into any agreement or understanding
with any person the effect of which would be inconsistent with or violative of
any provision contained in this Section 3.

          4.   Subsequent Actions by Interwest.

               (a)  Following the Effective Time, for so long as Interwest holds
or Beneficially Owns any Parent Common Stock, at any meeting (whether annual or
special or whether or not an adjourned or postponed meeting of the holders of
Parent Common Stock) or in connection with any written consent of the holders of
Parent Common Stock, Interwest will vote or consent (or cause to be voted or
consented) all shares of Parent Common Stock howsoever

                                       2
<PAGE>

acquired then held or Beneficially Owned by Interwest (or any affiliates of
Interwest) as directed by a majority of the Board of Directors of Parent.

               (b)  If the Merger Agreement is terminated or the Merger is not
consummated for any reason other than termination of the Merger Agreement by
Parent, termination of the Merger Agreement by the Company pursuant to Section
7.1(a)(iii) or a material breach by Parent, and a Takeover Proposal or a
Superior Transaction with any other party is consummated during the 12 months
following the Termination Date, with respect to Securities for which Interwest
receives consideration pursuant to the Takeover Proposal or Superior
Transaction, Interwest will, subject to Section 4(d) below, immediately upon the
receipt thereof pay to Parent an amount in cash (if positive) (the "Differential
Amount") equal to (i) the excess of the net pre-tax proceeds received by
Interwest with respect to the Securities over the net pre-tax proceeds Interwest
would have received with respect to such Securities if the Merger had been
consummated, including any shares of Company Common Stock into or for which any
Securities are convertible, exchangeable or exercisable, of Interwest (such
Securities, the "Subject Shares") in such transaction, or in any sale of any
Subject Shares to a third party that was initiated by Interwest, directly or
indirectly, within 12 months after the Termination Date plus (ii) the product of
(A) $1.00 (the "Share Value"), subject to adjustment as set forth in Section
4(e) below, times (B) the number of Subject Shares.

               (c)  If the Merger Agreement is terminated or the Merger is not
consummated as a result of a material breach by Parent, and a Takeover Proposal
or a Superior Transaction with any other party is consummated during the six
months following the Termination Date, with respect to Securities for which
Interwest receives consideration pursuant to the Takeover Proposal or Superior
Transaction, Interwest will, subject to Section 4(d) below, immediately upon the
receipt thereof pay to Parent an amount in cash (if positive) equal to the
Differential Amount, calculated as described in Section 4(b) above with respect
to the Subject Shares in such transaction, or in any sale of any Subject Shares
to a third party that was initiated by Interwest, directly or indirectly, within
six months after the Termination Date.

               (d)  If a Differential Amount is payable pursuant to Section 4(b)
or 4(c) hereof and Interwest receives any non-cash consideration in the Takeover
Proposal or Superior Transaction as part of the net proceeds ("Other
Consideration") that consists of securities listed on a national securities
exchange or the Nasdaq National Market ("Marketable Securities"), Interwest
shall deliver immediately to Parent an amount of Marketable Securities whose
aggregate value, calculated on the basis of the closing price for such
Marketable Securities on the exchange where such Marketable Securities are
listed, equals the Differential Amount. To the extent the Other Consideration
consists of non-Marketable Securities or other assets, such Other Consideration
will be held by Interwest until Interwest shall have sold or otherwise disposed
of such Other Consideration for cash or Marketable Securities, or has otherwise
actually realized value, directly or indirectly, from such sale or disposition,
at which time the Differential Amount, to the extent not previously paid, will
be immediately paid to Parent in cash or such Marketable Securities.

                                       3
<PAGE>

               (e)  The Share Value used in Section 4(b) or 4(c) above shall be
adjusted as appropriate and equitable to reflect any reorganization,
recapitalization, stock dividend or split, or combination or other change in the
Company's capital structure after the date hereof.

          5.   Covenants. Representations and Warranties of Interwest. Interwest
hereby represents and warrants to, and agrees with, Parent as follows:

               (a)  Ownership of Shares. Interwest is the sole record and
beneficial owner of Existing Shares consisting of 3,014,312 shares of Company
Common Stock and all of the issued and outstanding shares of Company Preferred
Stock, consisting of 50,000 shares of preferred stock designated as Series A
Preferred and 19,000 shares of preferred stock designated as Series B Preferred.
On the date hereof, the Existing Shares constitute all of the Shares owned of
record or beneficially owned by Interwest. Interwest has sole voting power and
sole power to issue instructions with respect to the matters set forth in
Sections 3 and 4 hereof, sole power of disposition, sole power of conversion,
sole power to demand appraisal rights and sole power to agree to all of the
matters set forth in this Agreement, in each case with respect to all of the
Existing Shares with no limitations, qualifications or restrictions on such
rights, subject to applicable securities laws, and the terms of this Agreement.

               (b)  Organization. Interwest is a corporation duly organized,
validly existing and in good standing under the laws of the State of Colorado,
has all requisite corporate power or other power and authority to execute and
deliver this Agreement and perform its obligations hereunder. The execution and
delivery by Interwest of this Agreement and the performance by it of its
obligations hereunder have been duly and validly authorized by the Board of
Directors of Interwest and no other corporate proceedings on the part of
Interwest are necessary to authorize the execution, delivery and performance of
this Agreement or the consummation of the transactions contemplated hereby by
Interwest.

               (c)  Corporate Authorization. This Agreement has been duly and
validly executed and delivered by Interwest and constitutes a valid and binding
agreement enforceable against Interwest in accordance with its terms except (i)
as may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or
similar laws affecting creditors rights and (ii) that the remedy of specific
performance and injunctive and other forms of equitable relief may be subject to
equitable defenses and to the discretion of the court before which any
proceeding therefor may be brought.

               (d)  No Conflicts. Except for filings, authorizations, consents
and approvals as may be required under the HSR Act, the Exchange Act and the
Securities Act, (i) no filing with, and no permit, authorization, consent or
approval of, any state or federal Governmental Entity is necessary for the
execution of this Agreement by Interwest and the consummation by Interwest of
the transactions contemplated hereby and (ii) none of the execution and delivery
of this Agreement by Interwest, the consummation by Interwest of the transaction
contemplated hereby or compliance by Interwest with any of the provisions hereof
will (x) conflict with or result in any breach of the organizational documents
of Interwest, (y)

                                       4
<PAGE>

result in a violation or breach of, or constitute (with or without notice or
lapse of time or both) a default (or give rise to any third party right of
termination, cancellation, material modification or acceleration) under any of
the terms, conditions or provisions of any note, loan agreement, bond, mortgage,
indenture, license, contract, commitment, arrangement, understanding, agreement
or other instrument or obligation of any kind to which Interwest is a party or
by which Interwest or any of their properties or assets may be bound, or (z)
violate any order, writ, injunction, decree, judgment, statute, rule or
regulation applicable to Interwest or any of its properties or assets.

               (e)  No Encumbrances. Except as applicable in connection with the
transactions contemplated by Sections 3 and 4 hereof, the Existing Shares at all
times during the term hereof will be beneficially owned by Interwest, free and
clear of all liens, claims, security interests, proxies, voting trusts or
agreements, understandings or arrangements or any other encumbrances whatsoever,
except for any such encumbrances or proxies arising hereunder.

               (f)  Finder's Fees. Other than as contemplated by the Merger
Agreement, no broker, investment banker, financial advisor or other person is
entitled to any broker's, finder's, financial adviser's or other similar fee or
commission in connection with the transactions contemplated by this Agreement
based upon arrangements made by or on behalf of Interwest.

               (g)  No Solicitation. During the term of this Agreement,
Interwest shall not, and shall not authorize or permit any of its directors,
officers, employees, agents or representatives, directly or indirectly, to
solicit or initiate, or furnish or disclose non-public information in
furtherance of, any inquiries or the making of any proposal with respect to any
Takeover Proposal, or negotiate or otherwise engage in discussions with any
person (other than Parent, Sub or their respective directors, officers,
employees, agents or representatives) with respect to any Takeover Proposal or
enter into any agreement, arrangement or understanding requiring it to abandon,
terminate or fail to consummate the Merger or any other transactions
contemplated by the Merger Agreement, and will immediately cease all existing
activities, discussions and negotiations with any parties conducted heretofore
with respect to any proposal for a Takeover Proposal.

               (h)  Restriction on Transfer, Proxies and Non-Interference Prior
to Effective Date. Interwest will not, directly or indirectly, prior to the
Effective Date or the Termination Date, (i) offer for sale, sell, transfer,
tender, pledge, encumber, assign or otherwise dispose of, or enter into any
contract, option or other arrangement or understanding with respect to or
consent to the offer for sale, sale, transfer, tender, pledge, encumbrance,
assignment or other disposition of, any or all of the Securities or any interest
therein except as provided in Section 4(b); (ii) grant any proxies or powers of
attorney, deposit the Securities into a voting trust or enter into a voting
agreement with respect to the Securities; or (iii) take any action that would
make any representation or warranty of Interwest contained herein untrue or
incorrect or would result in a breach by Interwest of its obligations under this
Agreement.

               (i)  Restriction on Transfer Following the Effective Date.
Interwest will not, directly or indirectly, for the one year period commencing
on the Effective Date, offer

                                       5
<PAGE>

for sale, sell, transfer, tender, pledge, encumber, assign or otherwise dispose
of, or enter into any contract, option or other arrangement or understanding
with respect to or consent to the offer for sale, sale, transfer, tender,
pledge, encumbrance, assignment or other disposition of, any or all of the
Parent Common Stock received by it in the Merger or any interest therein, except
that Interwest shall have the right during such one-year period, without
Parent's prior written consent, to sell up to and including:

               (i)    200,000 shares of Parent Common Stock (or such greater
          number of shares as provided in clause (iii) below) if (x) the average
          of the daily closing prices per share of Parent Common Stock on the
          Nasdaq National Market for each of any 15 consecutive trading days
          prior to any such sale is greater than or equal to 150% of the RMI
          Share Price (as defined below) and (y) the sale price for such sale is
          greater than or equal to 150% of the RMI Share Price;

               (ii)   an additional 100,000 shares of Parent Common Stock (or
          such greater number of shares as provided in clause (iii) below) if
          (x) the average of the daily closing prices per share of Parent Common
          Stock on the Nasdaq National Market for each of any 15 consecutive
          trading days prior to any such sale is greater than or equal to 200%
          of the RMI Share Price and (y) the sale price for such sale is greater
          than or equal to 200% of the RMI Share Price;

               (iii)  in the event that the aggregate amount of the Controlling
          Shareholder Loan at the Effective Time exceeds the Maximum Amount, the
          number of shares permitted to be sold pursuant to clauses (i) and (ii)
          above shall be increased by an amount equal to such share number
          (200,000 and 100,000, respectively) multiplied by the actual amount of
          the Controlling Shareholder Loan at the Effective time and divided by
          the Maximum Amount; and

               (iv)   notwithstanding anything to the contrary herein, during
          the one-year period commencing on the Effective Date, Interwest shall
          not at any time sell shares of Parent Common Stock in amounts in
          excess of five percent of the average daily trading volume of Parent
          Common Stock on the Nasdaq National Market for the five consecutive
          trading days prior to the date of any such sale.

The "RMI Share Price" means the average of the daily closing price per share of
Parent Common Stock on the Nasdaq National Market for the 15 consecutive trading
days ending on the trading day that is one day prior to the date hereof.

               (j)    Reliance by Parent. Interwest understands and acknowledges
that Parent is entering into the Merger Agreement in reliance upon Interwest's
execution and delivery of this Agreement.

               (k)    Furtherance of Parent's Observer Rights. Interwest will
cooperate fully, and take all actions reasonably requested by Parent, to ensure
that the provisions of Section 4.10 of the Merger Agreement are fully complied
with.

                                       6
<PAGE>

               (l)  Further Assurances. From time to time, at Parent's request
and without further consideration, Interwest will execute and deliver such
additional documents and take all such further lawful action as may be necessary
or desirable to consummate and make effective, in the most expeditious manner
practicable, the transactions contemplated by this Agreement.

          6.   Representations and Warranties of Parent. Parent hereby
represents and warrants to Interwest and the Company as follows:

               (a)  Organization. Parent is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware,
has all requisite corporate power or other power and authority to execute and
deliver this Agreement and perform its obligations hereunder. The execution and
delivery by Parent of this Agreement and the performance by Parent of its
obligations hereunder have been duly and validly authorized by the Board of
Directors of Parent and no other corporate proceedings on the part of Parent are
necessary to authorize the execution, delivery and performance of this Agreement
or the consummation of the transactions contemplated hereby by Parent.

               (b)  Corporate Authorization. This Agreement has been duly and
validly executed and delivered by Parent and constitutes a valid and binding
agreement of Parent enforceable against Parent in accordance with its terms,
except (i) as may be limited by applicable bankruptcy, insolvency, fraudulent
conveyance or similar laws affecting creditors rights and (ii) that the remedy
of specific performance and injunctive and other forms of equitable relief may
be subject to equitable defenses and to the discretion of the court before which
any proceeding therefor may be brought.

               (c)  No Conflicts. Except for filings, authorizations, consents
and approvals as may be required under the HSR Act, the Exchange Act and the
Securities Act, (i) no filing with, and no permit, authorization, consent or
approval of, any state or federal Governmental Entity is necessary for the
execution of this Agreement by Parent and the consummation by Parent of the
transactions contemplated hereby and (ii) none of the execution and delivery of
this Agreement by Parent, the consummation by Parent of the transactions
contemplated hereby or compliance by Parent with any of the provisions hereof
will (x) conflict with or result in any breach of the certificate of
incorporation or by-laws of Parent, (y) result in a violation or breach of, or
constitute (with or without notice or lapse of time or both) a default (or give
rise to any third party right of termination, cancellation, material
modification or acceleration) under any of the terms, conditions or provisions
of any note, loan agreement, bond, mortgage, indenture, license, contract,
commitment, arrangement, understanding, agreement or other instrument or
obligation of any kind to which Parent is a party or by which Parent or any of
its properties or assets may be bound, or (z) violate any order, writ,
injunction, decree, judgment, statute, rule or regulation applicable to Parent
or any of their respective properties or assets.

               (d)  No Finder's Fee. No broker, investment banker, financial
adviser or other person is entitled to any broker's, finder's, financial
adviser's or other similar fee or

                                       7
<PAGE>

commission in connection with the transactions contemplated hereby based upon
arrangements made by or on behalf of Parent.

               (e)  Registration Rights. Upon the Closing contemplated by the
Merger Agreement, Parent will enter into a Registration Rights Agreement with
Interwest in the form of Exhibit A hereto.

          7.   Stop Transfer; Legend.

               (a)  Interwest agrees with and covenants to Parent that Interwest
will not request that the Company register the transfer (book-entry or
otherwise) of any certificate or uncertificated interest representing any of the
Securities, unless such transfer is made in compliance with this Agreement.

               (b)  In the event of a stock dividend or distribution, or any
change in the Company Common Stock or Company Preferred Stock by reason of any
stock dividend, split-up, recapitalization, combination, exchange of shares or
the like other than pursuant to the Merger, the terms "Shares" and "Securities"
will be deemed to refer to and include the shares of Company Common Stock or
Company Preferred Stock as well as all such stock dividends and distributions
and any shares into which or for which any or all of the Securities may be
changed or exchanged and appropriate adjustments shall be made to the terms and
provisions of this Agreement.

               (c)  Interwest will promptly after the date hereof surrender to
the Company all certificates representing the Securities, and the Company will
place the following legend on such certificates in addition to any other legend
required thereon:

          THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
          RESTRICTIONS ON TRANSFER PURSUANT TO AND OTHER PROVISIONS OF
          A SHAREHOLDER AGREEMENT, DATED AS OF MARCH __, 2000, BY
          RMI.NET, INC., INTERNET COMMUNICATIONS CORPORATION AND
          INTERWEST GROUP, INC.

          8.   Termination. This Agreement will terminate upon the earlier of
(i) the consummation of the Merger or (ii) the termination of the Merger
Agreement in accordance with its terms, except that the covenants and agreements
set forth in Sections 4(b) through 4(e) hereof will survive any termination of
this Agreement for the terms specified therein and the terms of Sections 4(a)
and 5(i) will survive the consummation of the Merger.

          9.   Miscellaneous.

               (a)  Entire Agreement. This Agreement constitutes the entire
agreement among the parties with respect to the subject matter hereof and
supersedes all other

                                       8
<PAGE>

prior agreements and understandings, both written and oral, between the parties
with respect to the subject matter hereof.

               (b)  Binding Agreement. Interwest agrees that this Agreement and
the obligations hereunder will attach to the Securities and will be binding upon
any person or entity to which legal or beneficial ownership of such Securities
shall pass, whether by operation of law or otherwise, including without
limitation, Interwest's successors or other transferees (for value or otherwise)
and any other successors in interest. Notwithstanding the foregoing, this
Agreement will not apply to any transferee of Interwest that is not an affiliate
controlled by Interwest provided that such transferee becomes such in a
transaction not in breach of this Agreement.

               (c)  Assignment. Neither this Agreement nor any of the rights,
interests or obligations hereunder will be assigned or delegated (whether by
operation of law or otherwise) without the prior written consent of the other
parties, provided that Parent may assign, in its sole discretion, its rights,
interests and obligations hereunder to any direct or indirect wholly owned
Subsidiary of Parent, but no such assignment will relieve Parent from any of its
obligations hereunder if such assignee does not perform such obligations.
Subject to the preceding sentence, this Agreement will be binding upon, inure to
the benefit of and be enforceable by the parties and their respective successors
and assigns.

               (d)  Amendment and Modification. This Agreement may not be
amended, changed, supplemented, waived or otherwise modified or terminated,
except upon the execution and delivery of a written agreement executed by the
parties hereto.

               (e)  Notices. All notices and other communications hereunder will
be in writing and will be deemed given if delivered personally, telecopied
(which is confirmed) or sent by an overnight courier service, such as FedEx, to
the parties at the following addresses (or at such other address for a party as
will be specified by like notice):

          If to Interwest:

                    Interwest Group, Inc.
                    2400 Anaconda Tower
                    555 Seventeenth Street
                    Denver, Colorado 80202
                    Attention: President
                    Facsimile No.: (303) 299-1333

                                       9
<PAGE>

                    with a copy to:

                    Hogan & Hartson, L.L.P.
                    One Tabor Center
                    1200 Seventeenth Street, Suite 1500
                    Denver, Colorado 80202
                    Attention:  Steven A. Cohen, Esq.
                    Facsimile No.: (303) 899-7333

          If to the Company:

                    Internet Communications Corporation
                    7100 East Bellview Avenue, Suite 201
                    Greenwood Village, Colorado 80111
                    Attention: President
                    Facsimile No.: (303) 770-2706

                    with a copy to:

                    Hogan & Hartson, L.L.P.
                    One Tabor Center
                    1200 Seventeenth Street, Suite 1500
                    Denver, Colorado 80202
                    Attention: Steven A. Cohen, Esq.
                    Facsimile No.: (303) 899-7333

          If to Parent:

                    RMI.NET, Inc.
                    988 18/th/ Street, Suite 2201
                    Denver, Colorado  80202
                    Attention: Christopher J. Melcher, Vice President & General
                               Counsel
                    Facsimile No.:  (303) 313-0821

                    with a copy to:

                    Otten, Johnson, Robinson, Neff & Ragonetti, P.C.
                    950 17/th/ Street, Suite 1600
                    Denver, Colorado 80202
                    Attention:  Neil M. Goff, Esq.
                    Facsimile No.: (303) 825-6525

                                       10
<PAGE>

                    Brownstein, Hyatt & Farber, P.C.
                    410 17/th/ Street, 22/nd/ Floor
                    Denver, Colorado 80202
                    Attention: Jeffrey M. Knetsch, Esq.
                    Facsimile No.: (303) 223-1111

               (f)  Severability. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction or
other authority to be invalid, void, unenforceable or against its regulatory
policy, the remainder of the terms, provisions, covenants and restrictions of
this Agreement will remain in full force and effect and will in no way be
affected, impaired or invalidated.

               (g)  Specific Performance. The parties hereto agree that
irreparable damage would occur in the event any provision of this Agreement was
not performed in accordance with the terms hereof and that the parties will be
entitled to the remedy of specific performance of the terms hereof, in addition
to any other remedy at law or equity.

               (h)  No Waiver. The failure of any party hereto to exercise any
right, power or remedy provided under this Agreement or otherwise available in
respect hereof at law or in equity, or to insist upon compliance by any other
party hereto with its obligations hereunder, and any custom or practice of the
parties at variance with the terms hereof, will not constitute a waiver by such
party of its right to exercise any such or other right, power or remedy or to
demand such compliance.

               (i)  No Third Party Beneficiaries. This Agreement is not intended
to confer upon any person other than the parties hereto any rights or remedies
hereunder.

               (j)  Governing Law. This Agreement will be governed and construed
in accordance with the laws of the State of Colorado, without giving effect to
the principles of conflict of laws thereof.

               (k)  Description Headings. The description headings used herein
are for reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement.

               (l)  Counterparts. This Agreement may be executed in
counterparts, each of which will be considered one and the same agreement and
will become effective when such counterparts have been signed by each of the
parties and delivered to the other parties, it being understood that all parties
need not sign the same counterpart.

     IN WITNESS WHEREOF, Parent, the Company and Interwest have caused this
Agreement to be duly executed as of the day and year first above written.

                                       11
<PAGE>

                              RMI.NET, INC., a Delaware Corporation

                              By:   /s/ Douglas Hanson
                                    __________________________________________
                                    Name:
                                    Title:

                              INTERNET COMMUNICATIONS CORPORATION, a Colorado
                              Corporation

                              By:   /s/ Tom Galley
                                    __________________________________________
                                    Name:  Tom Galley
                                    Title: President

                              INTERWEST GROUP, INC., a Colorado
                              Corporation

                              By:   /s/ Clifford Hickey
                                    __________________________________________
                                    Name:
                                    Title:

                                       12

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