Document:

<PAGE>

                                                                     Exhibit 4.4

                                {FACE OF NOTE}
                             COMPLETEL EUROPE N.V.

                       14% Series B Senior Note Due 2010

                                                          (Euro)

ISIN No.

No.

          COMPLETEL EUROPE N.V., a Netherlands public company with limited
liability (incorporated with limited liability in The Netherlands and having its
statutory seat in Amsterdam), (the "Company," which term includes any successor
under the Indenture hereinafter referred to), for value received, promises to
pay to _______________, or its registered assigns, the principal sum of
Euro ((Euro)             ) on April 15, 2010.

          Interest Payment Dates:  April 15 and October 15, commencing October
15, 2000.

          Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.
<PAGE>

          IN WITNESS WHEREOF, the Company has caused this Note to be signed
manually by its duly authorized signatories.

                              COMPLETEL EUROPE N.V.

                              By: ______________________________
                                  Name:
                                  Title:

                              By: ______________________________
                                  Name:
                                  Title:

                   (Trustee's Certificate of Authentication)

          This is one of the 14% Series B Senior Notes due 2010 described in the
within-mentioned Indenture.

Date:

                              THE CHASE MANHATTAN BANK,
                                 as Trustee

                              By: ______________________________
                                  Authorized Signatory
<PAGE>

                             REVERSE SIDE OF NOTE

                             COMPLETEL EUROPE N.V.

                       14% Series B Senior Note due 2010

1.   Principal and Interest.
     ----------------------

          The Company will pay the principal of this Note on April 15, 2010.

          The Company promises to pay interest on the principal amount of this
Note on each Interest Payment Date, as set forth below, at the rate per annum
shown above.

          Interest will be payable semiannually (to the holders of record of the
Notes) at the close of business on April 1 or October 1 immediately preceding
the Interest Payment Date (the "Regular Record Date"), on each Interest Payment
Date, commencing October 15, 2000; provided that no interest shall accrue on the
principal amount of this Note prior to April 13, 2000.

          Interest on the Notes will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from April 13, 2000.
Interest will be computed on the basis of a 360-day year of twelve 30-day
months.

          The Company shall pay interest on overdue principal and premium, if
any, and interest on overdue installments of interest, to the extent lawful, at
a rate per annum that is the then applicable interest rate borne by the Notes.

2.   Method of Payment.
     -----------------

          The Company will pay interest (except defaulted interest) on the
principal amount of the Notes as provided above on each April 15 and October 15
to the persons who are Holders (as reflected in the Security Register at the
close of business on the Regular Record Date), in each case, even if the Note is
canceled on registration of transfer or registration of exchange after such
record date; provided that, with respect to the payment of principal, the
Company will make payment to the Holder that surrenders this Note to a Principal
Paying Agent on or after April 15, 2010.

          The Company will pay principal, premium, Additional Amounts if any,
and as provided above, interest in euro, in same day funds, that at the time of
payment is legal tender for payment of public and private debts.  However, the
Company may
<PAGE>

pay principal, premium, if any, and interest by its check payable in such money.
It may mail an interest check to a Holder's registered address (as reflected in
the Security Register). If a payment date is a date other than a Business Day at
a place of payment, payment may be made at that place on the next succeeding day
that is a Business Day and no interest shall accrue for the intervening period.

3.   Principal Paying Agent and Registrar.
     ------------------------------------

          Initially, the Trustee will act as authenticating agent, Principal
Paying Agent and Registrar in the Borough of Manhattan, The City of New York and
London, England and Banque Internationale a Luxembourg S.A. will act as
Principal Paying Agent and Registrar in Luxembourg.  The Company may change any
authenticating agent, Principal Paying Agent or Registrar without notice.  The
Company, any Subsidiary or any Affiliate of any of them may act as Principal
Paying Agent, Registrar or co-Registrar.

4.   Indenture; Limitations.
     ----------------------

          The Company issued the Notes under an Indenture dated as of April 13,
2000 (the "Indenture"), between the Company and The Chase Manhattan Bank (the
"Trustee").  Capitalized terms herein are used as defined in the Indenture
unless otherwise indicated.  The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act.  The Notes are subject to all such terms, and Holders are
referred to the Indenture and the Trust Indenture Act for a statement of all
such terms.  To the extent permitted by applicable law, in the event of any
inconsistency between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.  This is one of the Notes referred to in
the Indenture.  The Initial Notes and the Exchange Notes are unsecured (except
to the limited extent provided in the Indenture and the Pledge Agreement) and
unsubordinated obligations of the Company limited in aggregate principal amount
not to exceed (Euro)300,000,000, as provided in the Indenture.

5.   Additional Amounts.
     ------------------

          The Company will pay to the Holders of Notes such Additional Amounts
as may become payable under Section 4.20 of the Indenture.

6.   Redemption.
     ----------

          (a)  The Notes will be redeemable, at the Company's option, in whole
or in part, at any time or from time to time, on or after April 15, 2005 and
prior to maturity, at the
<PAGE>

Redemption Prices (expressed in percentages of principal amount) set forth
below, plus accrued and unpaid interest, if any, to the Redemption Date (subject
to the right of Holders of record on the relevant Regular Record Date that is on
or prior to the Redemption Date to receive interest due on an Interest Payment
Date), if redeemed during the 12-month period commencing on April 15 of the
years set forth below:

                                                    Redemption
       Year                                            Price
       ----                                         ----------
       2005                                           107.000%
       2006                                           104.667%
       2007                                           102.333%
       2008 and thereafter                            100.000%

          (b)  In addition, at any time on or prior to April 15, 2003 the
Company may redeem up to 35% of the principal amount of the Notes originally
issued with the proceeds of one or more Public Equity Offerings following which
there is a Public Market, at the Company's option, at any time or from time to
time in part, at a Redemption Price (expressed as a percentage of principal
amount on the Redemption Date) of 114.00% plus accrued and unpaid interest, if
any, to the Redemption Date; provided that (i) at least 65% of the aggregate
principal amount of Notes remains outstanding after each such redemption and
(ii) the Company mails a notice of such redemption within 60 days of receipt of
the Public Equity Offering proceeds to be so applied.

          Notice of any optional redemption will be mailed at least 30 days but
not more than 60 days before the Redemption Date to each Holder of Notes to be
redeemed at his last address as it appears in the Security Register.  So long as
the Notes are listed on the Luxembourg Stock Exchange and the rules of such
exchange so require, notice of redemption shall be published in a daily
newspaper of general circulation in Luxembourg (which is expect to be the
Luxemberger Wort).  On and after the Redemption Date, interest ceases to accrue
on Notes or portions of Notes called for redemption, unless the Company defaults
in the payment of the Redemption Price. The Trustee may select for redemption
portions of the principal amount of the Notes that have denominations equal to
(Euro)1,000 integral multiples thereof, so long as no Holder holds Notes with
less than (Euro)50,000 principal amount after such redemption.

7.   Redemption for Changes in Withholding Taxes.
     -------------------------------------------

          The Company may also have the option to redeem the Notes, in whole,
but not in part, in the event of certain changes in the tax laws such that the
Company would be required to pay Additional Amounts, subject to Section 3.01(c)
of the Indenture.
<PAGE>

8.   Repurchase upon Change in Control.
     ---------------------------------

          Upon the occurrence of an Change of Control, each Holder shall have
the right to require the repurchase of its Notes by the Company in cash pursuant
to the offer described in the Indenture at a purchase price equal to 101% of the
principal amount thereof plus accrued interest, if any, to the date of purchase
(the "Change of Control Payment").

          A notice of such Change of Control will be mailed within 30 days after
any Change of Control occurs to each Holder at his last address as it appears in
the Security Register.  On and after the Change of Control Payment Date,
interest ceases to accrue and the original issue discount ceases to accrete on
Notes or portions of Notes surrendered for purchase by the Company, unless the
Company defaults in the payment of the Change of Control Payment.

9.   Denominations; Transfer; Exchange.
     ---------------------------------

          The Notes are in registered form without coupons in denominations of
(Euro)50,000 of principal amount and multiples of (Euro)1,000 in excess thereof.
A Holder may register the transfer or exchange of Notes in accordance with the
Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. The Registrar need not register
the transfer or exchange of any Notes selected for redemption. Also, it need not
register the transfer or exchange of any Notes for a period of 15 days before a
selection of Notes to be redeemed is made.

10.  Persons Deemed Owners.
     ---------------------

          A Holder shall be treated as the owner of a Note for all purposes.

11.  Unclaimed Money.
     ---------------

          If money for the payment of principal, premium, if any, or interest
remains unclaimed for two years, the Trustee and the Principal Paying Agent will
pay the money back to the Company at its request.  After that, Holders entitled
to the money must look to the Company for payment, unless an abandoned property
law designates another Person, and all liability of the Trustee and such
Principal Paying Agent with respect to such money shall cease.

12.  Discharge Prior to Redemption or Maturity.
     -----------------------------------------

          If the Company deposits with the Trustee money or Government
Securities sufficient to pay the then outstanding
<PAGE>

principal of, premium, if any, and accrued interest on the Notes (a) to
redemption or maturity, the Company will be discharged from this Indenture and
the Notes, except in certain circumstances for certain sections thereof, and (b)
to the Stated Maturity, the Company will be discharged from certain covenants
set forth in the Indenture.

13.  Legal Defeasance and Covenant Defeasance.
     ----------------------------------------

          The Company may be discharged from its obligations under the Indenture
and the Notes except for certain provisions thereof, and may be discharged from
obligations to comply with certain covenants contained in the Indenture and the
Notes, in each case upon satisfaction of certain conditions specified in the
Indenture.

14.  Amendment; Supplement; Waiver.
     -----------------------------

          Subject to certain exceptions, the Indenture or the Notes may be
amended or supplemented with the consent of the Holders of at least a majority
in principal amount of the Notes then outstanding, and any existing default or
compliance with any provision may be waived with the consent of the Holders of
at least a majority in principal amount of the Notes then outstanding.  Without
notice to or the consent of any Holder, the parties thereto may amend or
supplement the Indenture or the Notes to, among other things, cure any
ambiguity, defect or inconsistency and make any change that does not adversely
affect the rights of any Holder in any material respect.  Certain modifications
will require the consent of each Holder affected thereby.

15.  Restrictive Covenants.
     ---------------------

          The Indenture imposes certain limitations on the ability of the
Company and its Restricted Subsidiaries, among other things, to Incur additional
Indebtedness, make Restricted Payments, use the proceeds from Asset Sales,
engage in transactions with Affiliates or merge, consolidate or transfer
substantially all of its assets.  Within 90 days after the end of each fiscal
quarter, the Company must report to the Trustee on compliance with such
limitations.

16.  Successor Persons.
     -----------------

          When a successor person or other entity assumes all the obligations of
its predecessor under the Notes and the Indenture, the predecessor person will
be released from those obligations.
<PAGE>

17.  Defaults and Remedies.
     ---------------------

          If an Event of Default (other than an Event of Default specified in
clause (g) or (h) of Section 6.01 of the Indenture that occur with respect to
the Company) occurs and is continuing, the Trustee or the Holders of at least
25% in principal amount of the Notes may declare all the Notes to be due and
payable.  If a bankruptcy or insolvency default with respect to the Company
occurs and is continuing, the Notes automatically become due and payable.
Holders may not enforce this Indenture or the Notes except as provided in the
Indenture.  The Trustee may require indemnity satisfactory to it before it
enforces the Indenture or the Notes.  Subject to certain limitations, Holders of
at least a majority in principal amount of the Notes then outstanding may direct
the Trustee in its exercise of any trust or power.

18.  Trustee Dealings with Company.
     -----------------------------

          Subject to the Trust Indenture Act, the Trustee under the Indenture,
in its individual or any other capacity, may make loans to, accept deposits from
and perform services for the Company or its Affiliates and may otherwise deal
with the Company or its Affiliates as if it were not the Trustee.

19.  No Recourse Against Others.
     --------------------------

          No incorporator or any past, present or future partner, shareholder,
other equity holder, officer, director, manager, employee, board member or
controlling person as such, of the Company or of any successor Person shall have
any liability for any obligations of the Company under the Notes or this
Indenture or for any claim based on, in respect of or by reason of, such
obligations or their creation.  Each Holder by accepting a Note waives and
releases all such liability.  The waiver and release are part of the
consideration for the issuance of the Notes.

20.  Authentication.
     --------------

          This Note shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on the other side of this Note.

21.  Abbreviations.
     -------------

          Customary abbreviations may be used in the name of a Holder or an
assignee, such as:  TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as
tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors
Act).
<PAGE>

          The Company will furnish to any Holder upon written request and
without charge a copy of the Indenture.  Requests may be made to CompleTel
Europe N.V., Kruisweg 609, 2132 NA Hoofddorp, The Netherlands, Attention:  Chief
Financial Officer.

22.  Choice of Law.
     -------------

          The laws of the State of New York shall govern the Indenture and this
Note without giving effect to applicable principles of conflicts of laws to the
extent that the application of the law of another jurisdiction would be required
thereby.
<PAGE>

                                ASSIGNMENT FORM

I or we assign and transfer this Note to

________________________________________________________________________________

________________________________________________________________________________
(Print or type name, address and zip code of assignee or transferee)

________________________________________________________________________________
(Insert Social Security or other identifying number of assignee or transferee)

and irrevocably appoint ________________________________________________________
agent to transfer this Security on the books of the Company.  The agent may
substitute another to act for him.

Dated:___________________  Signed:  _______________________
                                         (Signed exactly as name appears on the
                                         other side of this Note)

Signature Guarantee:____________________________________________________________
                    Participant in a recognized Signature Guarantee Medallion
                    Program (or other signature guarantor program reasonably
                    acceptable to the Trustee)
<PAGE>

                      OPTION OF HOLDER TO ELECT PURCHASE

          If you wish to have this Note purchased by the Company pursuant to
Section 4.10 or Section 4.12 of this Indenture, check the Box:  [_]

          If you wish to have a portion of this Note purchased by the Company
pursuant to Section 4.10 or Section 4.12 of the Indenture, state the amount (in
principal amount): (Euro)_________.

Date:  _________________

Your Signature:

________________________________________________________________________________
       (Sign exactly as your name appears on the other side of this Note)<PAGE>
                                                                   Exhibit 10.11

                         AMENDED EMPLOYMENT AGREEMENT
                         ----------------------------

     This Amended Employment Agreement (this "Agreement"), dated as of June 30,
2000, to be effective as of January 1, 2000, is entered into by and between
CABLETEL MANAGEMENT, Inc., a Colorado corporation with its principal offices
located at 6300 S. Syracuse Way, Suite 355, Englewood, Colorado 80111
("Company"), and WILLIAM H. PEARSON, a U.S. citizen and resident of the State of
Colorado ("Employee").

                                   RECITALS
                                   --------

     A.   The Company is a wholly owned subsidiary of CompleTel LLC ("LLC"), for
which the Company provides management and consulting personnel.  LLC and its
subsidiaries and affiliates, collectively, are referred to herein as
"CompleTel."

     B.   The Company wishes to continue to employ Employee and Employee wishes
to continue to be employed by the Company in key management positions of the
Company and CompleTel.

     C.   The Company and Employee, respectively, desire to modify the terms of
Employee's Employment Agreement dated May 18, 1998 and effective as of January
1, 1998 (the "Original Agreement") and to enter into this Amended Employment
Agreement under the terms and conditions contained herein.

                                   AGREEMENT
                                   ---------

     In consideration of the rights and obligations created hereunder, the
parties agree as follows:

     1.   Employment and Assignment.  This Agreement is made between the
          -------------------------
Company, as employer, and the Employee, a U.S. Citizen and resident, and
replaces and voids any and all prior employment agreements made between the
Company and Employee.

     The parties acknowledge that Employee has been seconded (the "Secondment")
to a subsidiary of LLC to work in its European headquarters effective July
15,1998.  In consideration of his continued employment by the Company, Employee
agrees to discharge faithfully, diligently, and to the best of his ability, the
responsibilities of any position assigned during his employment.  Employee will
be supervised, directed and evaluated by the Board of Managers of LLC (the
"Board") and the Board shall be solely responsible for any decisions concerning
discipline, termination and pay increases.

     Employee's employment commenced January 1, 1998 pursuant to the Original
Agreement and will continue hereunder for an indefinite period subject to
termination as specified in Section 5.  Notwithstanding anything herein to the
contrary, Employee's assignment in France shall not exceed four years from the
Secondment Date.

<PAGE>

     2.   Title; Scope of Responsibilities.  Employee shall serve as President
          --------------------------------
and Chief Executive Officer of the Company, and President and Chief Executive
Officer of LLC pursuant to the terms and conditions of this Agreement.  Employee
shall serve in such capacities for LLC's European subsidiaries as LLC's boards
and managers of its European subsidiaries shall designate from time to time.

     Except for his involvement in personal investments, provided such
involvement does not require any material services on his part, Employee shall
not engage in any other business activity or activities that require material
personal services by Employee or that, in the judgment of the Board, may
conflict with the proper performance of his duties hereunder.

     3.   Compensation; Bonus; Benefits.
          -----------------------------

          a.   Salary.  For all services rendered by Employee hereunder,
               ------
Employee shall receive during the term of this Agreement a base salary, payable
semimonthly in arrears, at the annual rate for the 1998 calendar year of
$175,000.  The base salary shall be reviewed annually by the Board at the end of
each calendar year to determine if any increase is appropriate.

          b.   Bonuses.  At the end of each calendar year, in respect of all
               -------
services provided hereunder, Employee shall be eligible to receive an incentive
bonus as authorized by the Board pursuant to objectives set by the Board in an
amount up to 55% of Employee's base salary for such year, subject to Employee
having met the performance targets established by the Board.

          c.   Basic Benefits.  In addition to salary payments as provided in
               --------------
Section 3(a), the Company shall provide Employee, during the term of this
Agreement, with the benefits of such insurance plans, hospitalization plans,
401(k) and supplemental retirement plans and other employee fringe benefit plans
as are approved by the Board, it being understood that such benefits shall be
comparable to those customarily provided to executive management personnel of
companies in the telecommunications industry of comparable size and value as
LLC. The Company may provide the benefits described herein directly, by having
Employee participate in the Company's own benefits plan or the Company may
provide any portion of the benefits by reimbursing Employee for premiums he pays
to acquire such benefits under private plans agreed upon between Employee and
the Company.

          Employee's immediate family (which for purposes of the Agreement shall
be deemed to consist of his wife and any dependent children) will be covered by
the benefits package described above to the same extent as such immediate family
members are covered for comparable senior executives of the Company in the U.S.
during the term of this Agreement.

          Employee shall be entitled to sick leave and vacation in accordance
with the Company's established policies applicable to its employees generally,
provided that Employee shall be entitled to a minimum of four weeks vacation
each year.  Benefits to be provided by the Company under Sections 5(d), (e) and
(f) after termination of this Agreement for the periods specified therein shall
include health insurance and long term disability insurance providing
substantially the same health insurance and long term disability insurance as
was provided to Employee at the time of the termination of this Agreement.

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -2-
<PAGE>

          d.   Tax Equalization.
               ----------------

               (i)   Hypothetical Tax Defined.  The hypothetical tax is the
                     ------------------------
     applicable income and social taxes that Employee would have paid with
     respect to his compensation, bonus and benefits provided by the Company, if
     living and working in his home country, without  any foreign assignment-
     related income and deductions.  During the Secondment, Employee will be
     responsible for a hypothetical Colorado state income tax equal to what he
     would have paid had employee remained in Colorado at the time of
     assignment.  Hypothetical tax withholding will be applied to base salary,
     bonus and any other compensation elements Employee would have received had
     the Employee not been assigned to a foreign assignment.

               (ii)  General Procedure and Computation of Hypothetical Tax.
                     -----------------------------------------------------
     During the Secondment, the Company will bear the overall worldwide tax
     burden of Employee to the extent it exceeds Employee's hypothetical tax
     liability pursuant to procedures and guidelines set forth in the Company's
     Tax Equalization Policy ("Tax Policy") attached hereto as Exhibit A.  As a
     result, the Company, with the advice of third party tax consultants,
     reserves the right to recommend that certain tax filing positions be taken
     and that various elections be made on Employee's home and host- country
     individual income tax returns in order to reduce Employee's tax burden.  If
     Employee decides not to accept these tax filing recommendations, Employee
     will then bear the additional tax cost related to not taking the tax
     positions and/or elections recommended by the Company.

               During the Secondment, any home and host-country tax liabilities
     incurred by Employee, with respect to his compensation, bonus and benefits
     provided by the Company, in excess of the hypothetical tax liability will
     be paid by the Company. Conversely, to the extent that any tax benefits
     (e.g., exclusions, deductions, exemptions or credits) resulting from the
     international assignment reduce the Employee's worldwide tax liabilities
     below the hypothetical tax liability, the difference will benefit and be
     paid to the Company pursuant to the Tax Policy.

               The Company reserves the right, at any time, to change its Tax
     Equalization Policy in any way it deems necessary to accomplish tax
     equalization in the most efficient manner.

               (iii) Tax Position Challenges.  It is the objective of the
                     -----------------------
     Company that any employee covered by the Company's tax equalization policy
     pay the least amount of tax legally possible.  It is recognized that the
     tax laws of the respective jurisdictions (federal, state, local and
     foreign) are not always straightforward.  Accordingly, the amount of tax an
     employee owes to a jurisdiction may vary based upon how the relevant tax
     law is interpreted and applied to the employee's facts and circumstances.
     In such situations, it is the policy of the Company to engage professional
     tax advisors with the objective of paying the least amount of tax legally
     possible.

               It is recognized that a taxing jurisdiction may challenge tax
     positions that achieve the Company's policy of tax minimization.  If a tax
     position taken with respect to Employee is challenged, the Company will pay
     the professional costs involved with the

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -3-
<PAGE>

     examination and defense of the position, and any taxes, penalties or
     interest resulting from the position. Payment of taxes, penalties and
     interest is limited to compensation paid under this Agreement by the
     Company. Employee is responsible for any taxes and interest on any item
     other than the Company compensation.

               The tax equalization of any tax deficiencies, penalties and
     interest applies if it is attributable to a period of time Employee was
     covered by the Company's Tax Equalization Policy, even if Employee no
     longer is employed by the Company when the examination or tax deficiency
     arises.

               (iv)  IRC Section 911 - Election to Exclude Certain Compensation.
                     ----------------------------------------------------------
     Employee's worldwide income tax burden will equal his hypothetical tax.  On
     a U.S. individual income tax return, an expatriate employee with host-
     country-source earned income who meets special detailed requirements may
     elect to exclude certain amounts of his host- country earned income from
     inclusion in his U.S. return.  The election to exclude such income impacts
     the ability to minimize the overall worldwide tax burden attributable to an
     expatriate employee.  Since the Company bears the overall worldwide tax
     burden of Employee to the extent it is more than Employee's hypothetical
     tax, the Company reserves the right to elect the foreign earned income
     exclusion (Internal Revenue Code Section 911).

               The determination of whether such an election should be made will
     be the decision of the Company and the Company's appointed tax consultant,
     such that the Company's overall expatriate employment tax cost is minimized
     by such election.  The benefits of this election appropriately accrue to
     the Company, since the expatriate employee will never bear more or less tax
     than the hypothetical tax.

          This Section 3(d) is intended to survive any termination pursuant to
Sections 5(a), (b), (d), (e), (f) or (g).

          e.   Relocation Expenses.  The Company will pay the reasonable costs
               -------------------
(which will include the reasonable costs of insurance) of relocating Employee
and his immediate family from their home in the U.S. to France, including
airfare for Employee and his immediate family, the cost of shipping Employee's
household effects to France including insurance coverage, the cost of U.S.
transportation and storage for items that cannot be moved, the cost of air
shipping up to 500 pounds of personal effects needed before other goods arrive
by ship, living expenses for Employee and his family for a period of up to 30
days after their relocation to France or until Employee has located housing in
France, whichever is less; and if Employee begins work in France before his
family moves there, one week of paid leave and round-trip airfare for Employee
to return to the U.S. to assist his family with the move.

          For purposes of this Agreement, all airfares paid by the Company for
travel by Employee and his immediate family will be in business class.

          f.   Cost of Living Adjustments.  During the Secondment, the Company
               --------------------------
will pay Employee a cost of living adjustment, reflecting the difference in the
cost of goods and services in France as opposed to the U.S. as determined by
Runzheimer International or such

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -4-
<PAGE>

other source as the parties shall agree upon, during each month that Employee
resides in France during the term of this Agreement. The Company will conduct a
review of factors which could have an impact on Employee's cost of living in
France at the end of each six-month period during the term of this Agreement, to
determine what adjustment of the monthly cost of living payment, if any, is
necessary or appropriate to reflect material changes in the cost of living in
France. For purposes of this paragraph, cost of living shall be deemed to refer
to factors affecting the costs of goods and services in France.

          g.   U.S. Visits and Emergency Leave.  During the Secondment, for U.S.
               -------------------------------
visits, the Company shall pay airfare up to a maximum amount per year equal to
the cost of one business class round trip per year between France and the U.S.
for Employee and his immediate family.  In addition, the Company shall provide
reasonable paid emergency leave to Employee in the case of serious injury or
death to Employee or any member of his immediate family or the parents or
brothers and sisters of Employee and his wife and, in connection with any such
emergency leave, shall pay airfare up to a maximum amount per year equal to the
cost of one business class round-trip airfare between France and the U.S. for
Employee and his immediate family.

          h.   Business Expenses.  The Company shall pay or shall reimburse
Employee for reasonable and necessary business expenses incurred by Employee to
carry out Employee's duties under this Agreement which are documented in
accordance with Company policy.

     4.   Other Payments.  Additionally, in consideration of Employee's
          --------------
agreement to accept the foreign assignment, the Company will do the following:

          a.   Tax Return Preparation.  For such period of time as Employee's
               ----------------------
tax return shall be affected by the provisions hereof, the Company will pay the
cost to prepare all U.S. (including any applicable state) and foreign tax
returns which must be filed as a result of Employee's acceptance of the foreign
assignment, by an accounting firm selected by the Company, and provided that
Employee agrees to comply with the Company's Tax Equalization Policy including
requirements that the Employee make certain tax elections designed to minimize
the Company's tax equalization costs.  This Section 4(a) is intended to survive
any termination pursuant to Sections 5(a), (b), (d), (e), (f) or (g).

          b.   Housing.  During the Secondment, the Company will provide
               -------
suitable housing (including utilities) in France for Employee and his immediate
family, recognizing Employee's position with the Company and the size of
Employee's family.  The Company will provide this benefit in the manner which is
most tax-advantageous to the Company.

          c.   Transportation.  During the Secondment, the Company will provide
               --------------
suitable transportation in France for Employee and his immediate family,
recognizing Employee's position with the Company and the size of Employee's
family, equivalent to the full-time use of two automobiles.  The Company will
provide this benefit in the manner which is most tax-advantageous to the
Company.

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -5-
<PAGE>

          d.   Foreign Language Training.  The Company will provide training in
               -------------------------
foreign languages for Employee and Employee's immediate family at a language
school selected by the Company.

          e.   Private Schooling.  During the Secondment, if Employee determines
               -----------------
that the State education available to his children in France is not comparable
to the public education which they would have received in the United States, the
Company will pay all reasonable tuition fees and related costs (to the extent
that such related costs would not have been incurred in comparable circumstances
in the United States) incurred by Employee in sending his dependent children to
an appropriate private or other fee paying school in France.  This benefit will
be available for children in grades kindergarten (the year prior to the first
grade) through grade 12.  The Company will provide this benefit in the manner
which is most tax-advantageous to the Company.

          f.   Planning Advice.  During the Secondment, the Company will arrange
               ---------------
for provision of legal, estate planning and financial planning advice for
Employee relating to Employee's relocation and employment abroad, up to an
aggregate ceiling (payable directly by the Company) of U.S. $1,500 per year.

          g.   Other Relocation Expenses.  The Company will pay other expenses
               -------------------------
reasonably incurred by Employee in relocating to the foreign assignment, up to
an amount equal to one month of Employee's base salary, to the extent such
expenses are not covered by other provisions of this Agreement, documented by
receipts to the extent practical, incurred within 30 days  following the date on
which Employee's immediate family relocates and which are non-recurring expenses
necessary for and only incurred because of Employee's relocation (e.g appliance
replacement expense due to voltage differences).

          h.   Tax Gross-up.  The Company will pay an incremental amount to
               ------------
Employee to increase the amount of any incentive bonus received pursuant to
Section 3(b) hereof to the extent required to ensure that the total worldwide
tax paid by Employee on such bonus does not exceed the U.S. federal, FICA and
state tax Employee would have paid on such bonus if the full bonus were subject
only to U.S. tax.

          i.   U.S. Residence; Automobile.  Employee has chosen to retain his
               --------------------------
principal residence, and to leave his personal automobiles, in the U.S. and
understands that Employee, and not the Company, shall be responsible for all
expenses of maintaining such residence and maintaining and storing such
automobiles.

          j.   Repatriation.  Upon termination of this Agreement pursuant to
               ------------
Sections 5(a), (b), (d), (e), (f) or (g), or the earlier termination of
Employee's Secondment, the Company shall pay the reasonable costs of
repatriating Employee and his immediate family to their home in the U.S.,
including airfare for Employee and his immediate family, the cost of shipping
Employee's household effects back to the U.S., the cost of air shipping up to
500 pounds of personal effects needed before other goods arrive by ship,  the
cost of transport and unpacking of stored property, and such other amounts as
set forth on Schedule A hereto.  Notwithstanding the foregoing, in the event
Employee terminates this Agreement pursuant to Section 5(g) for the

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -6-
<PAGE>

purposes of providing services to another employer on an international
assignment, the Company shall have no obligation to provide the repatriation
benefits of this Section 4(j).

     5.   Termination.  Employee's employment hereunder shall terminate on the
          -----------
following terms and conditions:

          a.   Death.  If Employee dies during the term of this Agreement, this
               -----
Agreement shall terminate as of the date of Employee's death.  The Company
shall, within 180 days after the date of Employee's death, make a cash lump-sum
payment (less applicable withholding taxes) to his estate in an amount equal to
the salary (at the level payable in the year of Employee's death) that would
have been payable either for the period of time extending from the date of death
to the date 18 months after May 18, 1998, or for the nine months next following
the date of death, whichever period of time is longer.

          b.   Disability.  If during the term of this Agreement Employee
               ----------
becomes disabled, the Company may terminate Employee's Secondment in France and
return Employee and his immediate family to the U.S. and the Company may
terminate this agreement 30 days after receipt by Employee or his duly appointed
legal representative of Notice of Termination (as defined below).  For purposes
of this Section 5(b), Employee shall be "disabled" if he is unable to
effectively perform his duties hereunder by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which
has lasted or can be expected to last for a continuous period of not less than
12 months.  If this Agreement is terminated under this Section 5(b), Employee
shall continue to receive his base salary (at the level payable in the year of
termination) either for the period of time extending from the date of
termination of employment to the date 18 months after May 18, 1998, or for the
nine months next following the date of termination, whichever period of time is
longer.

     For purposes of this Agreement, a "Notice of Termination" means a written
notice from the Company which (a) indicates the specific termination provision
in this Agreement relied upon, (b) to the extent applicable, sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of Employee's employment under the provision so indicated and (c) to
the extent applicable, sets forth the date of termination.

          c.   Cause.  The Company may terminate this Agreement for "cause" upon
               -----
receipt by Employee, or on such later date as shall be specified, of Notice of
Termination stating that termination is pursuant to this Section 5(c).  For
purposes of this agreement, "cause" shall be defined as any of the following:
(i) any act by Employee, where in respect of such act Employee is ultimately
convicted or enters a plea of guilty or nolo contendere to a felony; (ii)
Employee's willful misconduct, gross negligence,  perpetration of or
participation in a fraud, in each case where such acts are materially injurious
to the Company or any of its subsidiaries or any affiliate thereof,  or (iii)
Employee's material breach of Sections 5 (Confidentiality) or Section 6
(Noncompetition and Nonsolicitation) of the Executive Securities Agreement dated
as of May 18, 1998 by and between LLC and Employee, in each case where
Employee's acts are materially and demonstrably injurious to the Company or an
Affiliate (as defined below).  If this Agreement is terminated for cause,
Employee's rights hereunder shall cease immediately on the date of such
termination.

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -7-
<PAGE>

               For purposes of this Agreement, the term "Affiliate" means a
person, firm or corporation that directly or indirectly through one or more
intermediaries, controls, is controlled by or is under common control with, the
Company.

          d.   Nonperformance.    The Company may terminate Employee's
               --------------
employment in the event of Nonperformance.  The term "Nonperformance" shall mean
                                                      --------------
the occurrence of any of the following:

               (i)   the repeated failure or refusal in any material respect of
     Employee to perform his duties hereunder or to follow, in a manner
     reasonably acceptable to the Board, policies or directives established by
     the Board;

               (ii)  the failure of the Company and its subsidiaries to achieve
     financial, operating or other performance objectives formally established
     by the Board in an approved business plan or operating budget (which may be
     embodied in any board resolution or in any document approved by the Board
     such as a business plan or budget) together with a determination by the
     Board that Employee's performance or failure to perform has been a material
     factor in the failure of the Company and its subsidiaries to achieve such
     performance objectives; or

               (iii) the failure of Employee to achieve specific, formally
     adopted performance objectives established by the Board after consultation
     with Employee and good faith consideration by the Board of Employee's
     expressed views of the objectives;

provided, that Employee's continued willingness to live and work in France or
--------
any other country shall not be the basis for establishing "Nonperformance"
hereunder unless Employee's failure to live and work in France or another
country in which CableTel operates is, in the good faith determination of the
Board, a material contributing factor to the existence of the circumstances
described in (ii) and/or (iii) above.

          Prior to any termination of Employee's employment for Nonperformance,
the Board shall meet in formal session (but without the attendance of Employee)
upon proper notice to consider the matter of Employee's performance after which
the Board may deliver to Employee written notice (a "Nonperformance Notice")
                                                     ---------------------
stating that the Board believes Nonperformance has occurred.  Employee shall
have at least 15 calendar days to prepare for a meeting with the Board, at which
time Employee may present any information on market and competitive conditions
and any other factors bearing upon his performance.  In assessing Employee's
performance, the Board shall give due consideration to such conditions and such
other factors and shall work with Employee in good faith to establish criteria
which, if satisfied by Employee within 35 days or such longer time as may
reasonably be necessary in view of the criteria (the "Cure Period") after such
                                                      -----------
meeting, will prevent the Company from terminating Employee for Nonperformance
(until such time as another Nonperformance Notice shall be given and the
procedures set forth in this Section 5(d) shall be followed).  It is understood,
however, that if Employee and the Board fail to agree on such criteria, such
criteria, and the length of the Cure Period if longer than 35 days, shall be
those established in good faith by the Board.

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -8-
<PAGE>

          If Employee has failed to resolve the Nonperformance to the
satisfaction of the Board by the end of the Cure Period, Employee's employment
will be subject to termination at anytime thereafter  immediately upon adoption
of a resolution to that effect by a majority of the entire Board and upon
delivery by the Company or the Board to Employee of written Notice of
Termination stating that termination is pursuant to this Section 5(d), which
notice shall set forth the date of termination and specifically identify the
basis for the Board's belief that Nonperformance has occurred and not been
cured.

          If Employee is discharged pursuant to this Section 5(d), this
Agreement shall immediately terminate at the date set forth in the Notice of
Termination and Employee shall be entitled to receive (i) within thirty days
after the date of termination, a cash lump sum severance payment equal to the
amount of his base salary (at the level payable in the year of termination) that
would have been payable either for the period of time extending from the date of
termination of employment to the date 18 months after May 18, 1998, or for the
nine months next following the date of termination of employment, whichever
period of time is longer, (ii) a continuation of his benefits as specified in
Section 3(c) for such period, and (iii) the benefits specified in Sections 3(d),
4(a) and 4(j).

          e.   Without Cause.  The Company may terminate Employee's employment
               -------------
without cause by delivering to Employee a Notice of Termination stating that
termination is pursuant to this Section 5(e).  If Employee is discharged without
cause, this Agreement shall immediately terminate at the date set forth in the
Notice of Termination and Employee shall be entitled to received (i) within
thirty days after the date of termination, a cash lump sum severance payment
equal to the amount of his base salary and bonus (at the level payable in the
year of termination) that would have been payable for the 24 months next
following the date of termination of employment, (ii) a continuation of his
benefits as specified in Section 3(c) for such period, and (iii) the benefits
specified in Sections 3(d), 4(a) and 4(j).

          f.   Change of Control.  If Employee's employment is terminated by the
               -----------------
Company or if Employee resigns after his salary, benefits or any other required
payments (including without limitation any payments pursuant to this Section 5)
are reduced below the minimum levels required by this Agreement or after being
assigned to a position of lesser title, authority or responsibility, in any such
case within a six-month period after the occurrence of a Change of Control, this
Agreement shall immediately terminate as of later of (i) the date next following
the date the Change of Control was effective or (ii) the date Employee resigned
or his employment is terminated.    Any such termination shall be treated in the
same manner as a termination without cause pursuant to Section 5(e).  Employee
agrees that payment of the amounts due in that event shall constitute liquidated
damages or severance pay or both.

          A "Change in Control" will be deemed to have occurred if a person (as
defined in Section 18-101(12) of the Delaware Limited Liability Company Act),
who does not beneficially own (as defined below) any equity interest in LLC
entitled to vote in the election of Representatives to LLC's Board of Managers
("Membership Interest") on May 18, 1998, becomes the beneficial owner of a
Membership Interest with 51% of the voting power of all Membership Interests.  A
"beneficial owner" is any person who, directly or indirectly, through any
contract, arrangement, understanding, relationship, or otherwise has or shares
(i) the power to vote or

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -9-
<PAGE>

direct the voting of such equity interest or (ii) the power to dispose, or
direct the disposition of, such equity interest.

          g.   By Employee.  Employee may resign from his employment with the
               -----------
Company at any time.  In such event, this Agreement shall terminate immediately.
If Employee resigns pursuant to this Section 5(g), Employee's rights hereunder
shall cease immediately upon such resignation except as specified in Sections
3(d), 4(a) and 4(j).

     6.   Full Settlement.  In no event shall the Employee be obligated to seek
          ---------------
other employment or take any other action by way of mitigation of the amounts
payable to Employee under any of the provisions of this Agreement, but such
amounts shall be reduced by the amount Employee obtains from other employment.
The Company agrees to pay as incurred, to the full extent permitted by law, all
legal fees and expenses which Employee may reasonably incur as a result of any
contest by the Company or Employee of the validity or enforceability of, or
liability under, any provision of this Agreement or any guarantee of performance
thereof (including as a result of any contest by Employee about the amount of
any payment pursuant to this Agreement), but only if Employee is successful on
the merits of any such contest, plus in each case interest on any delayed
payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of
the Internal Revenue Code of 1986, as amended (the "Code").

     7.   Limitation on Payments.  Notwithstanding anything in this Agreement to
          ----------------------
the contrary, if the total payments or distributions by the Company to or for
the benefit of Employee would be subject to the excise tax  ("Excise Tax")
imposed by Section 4999 of the Code, then the cash amounts payable to Employee
hereunder shall be reduced, in the manner agreed by the Company and the
Employee, to the extent necessary so that the total of all such payments shall
be $1.00 less than the amount that would trigger the imposition of the Excise
Tax.

     8.   Waiver of Breach.  A waiver by the Company of a breach of any
          ----------------
provision of this Agreement by Employee shall not be construed as a waiver of
any breach of another provision or subsequent breach of the same provision.

     9.   Severability.  The invalidity or unenforceability in any application
          ------------
of any provision in this Agreement will not affect the validity or
enforceability of any other provision or of such provision in any other
application.

     10.  Notices.  All communications, requests, consents and other notices
          -------
provided for in this Agreement shall be in writing and shall be deemed given if
and when delivered personally by hand, sent by telecopy at the appropriate
number indicated below with electronic confirmation of receipt, or mailed by
first class mail, postage prepaid, addressed as follows:

          a.   If to the Company:

               CableTel Management, Inc.
               6300 S. Syracuse Way, Suite 355
               Englewood, CO 80111
               Facsimile No.: 303-741-4823
               Attn:  Chairman

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -10-
<PAGE>

               with a copy to:

               Madison Dearborn Partners
               Three First National Plaza
               Chicago, IL 60602
               Facsimile No.: (312) 895-1206
               Attn:  Paul Finnegan

               and to:

               Lawrence F. DeGeorge
               LPL Investment Group
               140 Intracoastal Pointe Drive, Suite 410
               Jupiter, FL 33477
               Facsimile No.: 561-745-2299

          b.   If to Employee:

               Mr. William H. Pearson
               38, rue de Bassano
               75008 Paris, France
               Facsimile No.: 011-33-1-44-31-2079

or to such other address or telecopy number as either party may designate by
notice pursuant to this Section 10.

     11.  Jurisdiction; Venue; Limitation.  The District Court of the County of
          -------------------------------
Arapahoe Colorado, United States of America, shall have exclusive jurisdiction,
including personal jurisdiction, and shall be the exclusive venue for any
controversies or claims arising out of Employee's employment by the Company or
out of this Agreement, except as otherwise agreed by the parties.  Any action or
proceeding to enforce the provisions of this Agreement, or to recover damages
from the alleged breach of any provisions of this Agreement shall be commenced
within six months of a party's first notice of a breach by the other party.

     12.  Governing Law.  This Agreement and all matters and issues collateral
          -------------
thereto shall be governed by the laws of the State of Colorado, United States of
America.

     13.  Assignment.  The Company may, with the written consent of Employee,
          ----------
assign its rights and delegate its obligations under this Agreement to any
Affiliate or to any acquirer of substantially all of the business of the Company
whether through merger, purchase of assets, purchase of stock or otherwise.
Otherwise, neither party may assign any rights or delegate any duties under this
Agreement.  This Agreement shall be binding upon and inure to the benefit of the
parties and their respective legal representatives, heirs, and permitted
successors and assigns.

     14.  Entire Agreement.  This Agreement sets forth the entire agreement and
          ----------------
understanding of the parties and supersedes all prior understandings, agreements
or representations by the parties, written or oral, that relate to the subject
matter of this Agreement.

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -11-
<PAGE>

     15.  Amendments.  No provision of this Agreement may be amended or waived
          ----------
except by an instrument in writing signed by the Employee and the Company (after
obtaining Board approval).

                 [Remainder of page intentionally left blank]
                 --------------------------------------------

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

                                      -12-
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first written above, to be effective as of January 1, 2000.

                                   COMPANY:

                                   CABLETEL MANAGEMENT, INC.,
                                   a Colorado corporation

                                   By:   /s/ William H. Pearson
                                      ------------------------------------------
                                        William H. Pearson
                                        President & Chief Executive Officer

                                   EMPLOYEE:

                                        /s/ William H. Pearson
                                   ---------------------------------------------
                                   William H. Pearson

                                            PEARSON AMENDED EMPLOYMENT AGREEMENT

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