Document:

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                          PLEDGE AND SECURITY AGREEMENT

      THIS PLEDGE AND SECURITY AGREEMENT, dated as of December 21, 2000, is by
and between WILLIAM H. PEARSON (the < < PLEDGOR > >), and COMPLETEL EUROPE
N.V., a public limited company incorporated under the laws of The
Netherlands, having its seat at Amsterdam and its principal place of business
at Kruisweg 609, 2132 NA Hoofddorp, The Netherlands (referred to herein as
either the < < SECURED PARTY > > or the "COMPANY").

                                     RECITAL

      The Pledgor acknowledges that he has borrowed from the Company and has
agreed to pay the sum of One Million Five Hundred Thousand Dollars and 00/00
Cents ($1,500,000.00) plus all accrued interest thereon pursuant to a Promissory
Note made by the Pledgor payable to the order of the Secured Party, of even date
herewith (the < < NOTE > >).

                                    AGREEMENT

      In consideration of the Recital and to induce the Secured Party to accept
the Note, the Pledgor hereby agrees as follows for the benefit of the Secured
Party and to induce the Pledgor to make the Note and to enter into this Pledge
and Security Agreement, the Secured Party hereby agrees as follows for the
benefit of the Pledgor:

      1.    PLEDGE. The Pledgor hereby pledges, assigns, hypothecates and grants
to the Secured Party a first lien on, and security interest in, his right,
title and interest in and to One Thousand (1,000) Common units (the "PLEDGED
UNITS") of CompleTel LLC, a Delaware Limited Liability Company ("COMPLETEL
LLC") and i) all certificates, instruments, and other documents evidencing
the foregoing; (ii) any option, warrant, subscription or right, whether as an
addition to or in substitution of all of the foregoing; (iii) any dividends
or distributions of any kind whatsoever, whether distributable in cash, stock
(except as set forth in paragraph 3 hereof) or other property; (iv) any
interest, premium or principal payments with respect to the foregoing; (v)
any conversion or redemption proceeds, all renewals, replacements, and
substitutions of all of the foregoing; and (vi) all products and proceeds of
all of the foregoing (together with the Pledged Units the
< < PLEDGED COLLATERAL > >) as security for the prompt and complete payment
when due of all obligations of the Pledgor under the Note.

      2.    DIVIDENDS AND DISTRIBUTIONS ON THE PLEDGED UNITS. If, while this
Pledge and Security Agreement is in effect, the Pledgor is in default under the
Note and the Pledgor shall become entitled to receive or shall receive any
dividend payment or distribution in respect of the Pledged Units, excluding
distribution of shares of the Secured Party that Pledgor may receive in exchange
for all or a portion of the Pledged Units, the Pledgor agrees to instruct
CompleTel LLC to deliver such dividend payment or distribution directly to the
Secured Party. Notwithstanding the foregoing, if the Pledgor receives a dividend
payment or distribution directly from CompleTel LLC which, pursuant to the terms
of this paragraph 2 should have been delivered directly to the Security Holder,
the Pledgor agrees to accept the same as the Secured Party's agent and to hold
the same in trust on behalf of the Secured Party and to deliver the same
forthwith to the Secured Party. All such dividend payments received by the
Secured Party shall be credited against the obligation of the Pledgor to pay
interest to the Secured Party with respect

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to the indebtedness of the Pledgor to the Secured Party under the Note.

      3.    DISTRIBUTION OF COMPANY SHARES. In the event Pledgor receives shares
of the Secured Party in exchange for all or a portion of Pledgor's Common Units
representing the Pledged Units, Pledgor will enter into a deed of pledge in
favor of the Secured Party for such shares in accordance with the laws of The
Netherlands (the "DEED OF PLEDGE") substantially in the form attached hereto as
Exhibit A and will instruct the Secured Party's transfer agent to deliver any
certificates in respect of such shares to the Secured Party.

      4.    RELEASE OF PLEDGED UNITS. The Secured Party agrees to release the
Pledged Units from the lien of this Pledge and Security Agreement at such time
as the Pledgor has satisfied in full his obligations under the Note. Further,
the Secured Party agrees to release all or a portion of the Pledged Units from
the lien of this Pledge and Security Agreement at such time as the Pledgor
executes a Deed of Pledge upon the distribution of shares of the Secured Party
and duly pledged such shares in accordance with paragraph 3 hereof.

      5.    RIGHTS OF THE SECURED PARTY. The Secured Party shall not be liable
for failure to collect or realize upon the Pledged Collateral, or any part
thereof, or for any delay in so doing, nor shall it be under any obligation
to take any action whatsoever with regard thereto.  If a default under the
Note has occurred and is continuing, the Secured Party may, without notice
except for notice of sale as provided in Section 6, exercise all rights,
privileges or options pertaining to any Pledged Collateral as if it were the
absolute owner thereof, upon such terms and conditions as it may determine,
all without liability except to account for property actually received by the
Secured Party, but the Secured Party shall have no duty to exercise any of
the aforesaid rights, privileges or options and shall not be responsible for
any failure to do so or delay in so doing.

      6.    REMEDIES. The Secured Party shall have all the rights and remedies
of a secured party under the Uniform Commercial Code of the State of New York
(the < < UCC > >). To the extent allowed by applicable law, in the event that a
default under the Note has occurred and is continuing, the Secured Party,
without demand of performance or other demand, advertisement or notice of any
kind (except the notice specified below of the time and place of public or
private sale) to or upon the Pledgor or any other person (all and each of which
demands, advertisements and/or notices are hereby expressly waived), may
collect, receive, appropriate and realize upon the Pledged Collateral, or any
part thereof, and/or may forthwith sell, assign, give option or options to
purchase, contract to sell or otherwise dispose of and deliver the Pledged
Collateral, or any part thereof, at public or private sale or sales, at any
exchange, or at any of the Secured Party's offices or elsewhere upon such terms
and conditions as the Secured Party may deem advisable and at such prices as the
Secured Party may deem best, for cash or on credit or for future delivery
without assumption of any credit risk, with the right of the Secured Party upon
any such sale or sales, public or private, to purchase the whole or any part of
the Pledged Collateral so sold, free of any right or equity of redemption in the
Pledgor, which right or equity is hereby expressly waived or released.

      7.    REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PLEDGOR. (a) The
Pledgor represents and warrants that on the date hereof and on the date of
delivery to the Secured Party of the Pledged Collateral he has, or will have as
the case may be, full power, authority and legal right to pledge all of his
right, title and interest in and to the Pledged Collateral pursuant to this

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Pledge and Security Agreement and the pledge, assignment and delivery of such
Pledged Collateral pursuant to this Pledge and Security Agreement will create a
valid first priority security interest in all right, title or interest of the
Pledgor in or to such Pledged Collateral, and the proceeds thereof, subject to
no prior pledge, lien, mortgage, hypothecation, security interest, charge,
option or encumbrance or to any agreement purporting to grant to any third party
a security interest in the property or assets of the Pledgor which would include
the Pledged Collateral. The Pledgor covenants and agrees that he will defend the
Secured Party's right, title and security interest in and to the Pledged
Collateral against the claims and demands of all persons whomsoever.

            (b)   The Pledgor represents that he is "located" at 11 Falcon Hills
Drive, Highlands Ranch, Colorado 80126.

      8.    NO DISPOSITIONS, ETC. Without the prior written consent of the
Secured Party, the Pledgor agrees that he will not sell, assign, transfer,
exchange or otherwise dispose of, or grant any option with respect to the
Pledged Collateral, nor will he create, incur or permit to exist any pledge,
lien, mortgage, hypothecation, security interest, charge, option or any other
encumbrance with respect to any of the Pledged Collateral or any interest
therein or any proceeds thereof, except for the lien and security interest
provided for by this Pledge and Security Agreement.

      9.    SALE OF COLLATERAL.

            (a)   Pledgor recognizes that Secured Party may be unable to effect
a public sale of all or any or all of the Pledged Units because of restrictions
in applicable federal and state securities laws and that Secured Party may,
therefore, determine to make one or more private sales of any such securities to
a restricted group of purchasers who will be obligated to agree, among other
things, to acquire such securities for their own account, for investment and not
with a view to the distribution or resale thereof. Pledgor acknowledges that any
such private sale may be at prices and other terms less favorable then what
might have been obtained at a public sale and, notwithstanding the foregoing,
agrees that each such private sale shall be deemed to have been made in a
commercially reasonable manner and that the Secured Party shall be under no
obligation to delay a sale of any of the Pledged Units for the period of time
necessary for it to register any securities for public sale under the Securities
Act of 1933, or under applicable state securities laws

            (b)   In the event that the proceeds of any sale of, collection
from, or other realization upon, all or any part of the Pledged Collateral by
Secured Party are insufficient to pay all amounts to which Secured Party is
legally entitled, Pledgor and any party who guaranteed or is otherwise obligated
to pay all or any portion of the Note shall be liable for the deficiency,
together with interest thereon.

            (c)   The Pledgor further agrees to do or cause to be done all such
other acts and things as may be necessary to make such sale or sales of any
portion or all of the Pledged Units valid and binding and in compliance with any
and all applicable laws, regulations, orders, writs, injunctions, decrees or
awards of any and all courts, arbitrators or governmental instrumentalities,
domestic or foreign, having jurisdiction over any such sale or sales, all at the
Pledgor's expense. The Pledgor further agrees that a breach of any of the
covenants contained in this paragraph 9 will cause irreparable injury to the
Secured Party, that the Secured Party has no

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adequate remedy at law in respect of such breach and, as a consequence, agrees
that each and every covenant contained in this paragraph shall be specifically
enforceable against the Pledgor and the Pledgor hereby waives and agrees not to
assert any defenses against an action for specific performance of such covenants
except for a defense that no default has occurred under the Note.

      10.   FURTHER ASSURANCES. The Pledgor agrees that, at any time and from
time to time upon the written request of the Secured Party, the Pledgor will
execute and deliver such further documents and do such further acts and things
as the Secured Party may reasonably request in order to effect the purposes of
this Pledge and Security Agreement.

      11.   SEVERABILITY. Any provision of this Pledge and Security Agreement
which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

      12.   NO WAIVER; CUMULATIVE REMEDIES. The Secured Party shall not, by any
act, delay, omission or otherwise be deemed to have waived any of its rights or
remedies hereunder and no waiver shall be valid unless in writing, signed by the
Secured Party, and then only to the extent therein set forth. A waiver by the
Secured Party of any right or remedy hereunder on any one occasion shall not be
construed as a bar to any right or remedy which the Secured Party would
otherwise have on any future occasion. No failure to exercise nor any delay in
exercising on the part of the Secured Party, any right, power or privilege
hereunder, shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, power or privilege hereunder preclude any other or
further exercise thereof or the exercise of any other right, power or privilege.
The rights and remedies herein provided are cumulative and may be exercised
singly or concurrently, and are not exclusive of any rights or remedies provided
by law.

      13.   BINDING EFFECT. This Pledge and Security Agreement and all
obligations of the Pledgor hereunder shall be binding upon the successors and
assigns of the Pledgor, and shall, together with the rights and remedies of the
Secured Party hereunder, inure to the benefit of the Secured Party and its
successors and assigns. This Pledge and Security Agreement shall be construed
and enforced in accordance with, and the rights of the parties shall be governed
by, the laws of the State of New York. At the option of the Secured Party, an
action may be brought to enforce this Pledge and Security Agreement in the State
Court in and for The City of New York, Borough of Manhattan, State of New York,
or in any other court in which venue and jurisdiction are proper. The Pledgor
and all signers or endorsers hereof consent to venue and jurisdiction in the
State Court in and for The City of New York, State of New York, and to service
of process, under applicable statues, in any action commenced to enforce the
rights granted under this Pledge and Security Agreement.

      14.   AGENT FOR SERVICE By the execution and delivery of this Pledge and
Security Agreement, each of the Pledgor and Secured Party acknowledges that it
has, by separate written instrument, designated CT Corporation System, 111 8th
Avenue, New York, NY 10011 (and any successor entity), as its authorized agent
upon which process may be served in any suit or

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proceeding arising out of or relating to this Pledge and Security Agreement that
may be instituted in any federal or state court in the City of New York, State
of New York, and acknowledges that CT Corporation System has accepted such
designation. All fees charged by CT Corporation to the Pledgor and Secured Party
shall be paid by the Pledgor.

      15.   COUNTERPARTS This instrument may be executed in any number of
counterparts, each of which shall be deemed an original instrument, but all of
which together shall constitute but one and the same instrument.

                [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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PLEDGOR:                                        SECURED PARTY:
                                                COMPLETEL EUROPE N.V.

                                          By:
-----------------------------                 -----------------------------
William H. Pearson                              Managing Director

                                          By:
                                              -----------------------------
                                                Managing Director

                                      6<PAGE>

                                 LOAN AGREEMENT

This Loan Agreement (this "AGREEMENT") is entered into to be effective as of the
___ day of March, 2000 between

(1)      COMPLETEL EUROPE N.V., a public company (NAAMLOZE VENNOOTSCHAP)
         incorporated under the laws of The Netherlands, having its statutory
         seat at Amsterdam, The Netherlands and its registered office at
         Drentestraat 24, 1083 HK Amsterdam, The Netherlands ("the LENDER"); and

(2)      [the Employee indentified in Schedule I hereto] (the "BORROWER").

WHEREAS

A.       The Lender is offering certain of its ordinary shares in an Initial
         Public Offering (the "IPO"). The Borrower has borrowed E[amount of
         loan] from Paribas for a term of 18 months (the "PARIBAS LOAN") to
         enable her to subscribe for and purchase shares in the IPO (the
         "PURCHASED SHARES"). The Paribas Loan incurs bank fees totalling
         (U)[amount of fees] (the "PARIBAS BANK FEES") and accrues interest at
         the rate of 4.95% per annum, and because of the Borrower's
         extraordinary efforts in connection with the IPO, the Lender has agreed
         to lend the Borrower sufficient funds to enable her to pay such
         interest and the Paribas Bank Fees, subject to the terms and conditions
         hereof (the "LOAN").

B.       This Agreement evidences the debt owing from the Borrower to the Lender
         in connection with the advances to be made hereunder.

NOW IT IS HEREBY AGREED:

1.       In this Agreement:

         "COMPLETEL GROUP" means the Lender, CompleTel LLC and all of their
         respective wholly-owned, direct and indirect, subsidiaries.

         "TERMINATION FOR CAUSE" means the Borrower is no longer an employee of
         any member of the CompleTel Group and was "terminated for cause",
         however, that may be defined in any relevant employment agreement,
         executive agreement, management services agreement or similar agreement
         between the Borrower and a member of the CompleTel Group, from time to
         time.

<PAGE>

2.       (i)      Subject to the terms of paragraph 2(ii) below, the Lender
                  hereby commits to lend to the Borrower, in the same currency
                  as the Paribas Loan, an amount sufficient to enable the
                  Borrower to pay the Paribas Bank Fees and to make interest
                  payments to Paribas on the Paribas Loan. Advances on the Loan
                  shall be made at such time and in such amount to allow the
                  Borrower to pay the Paribas Bank Fees and to meet his interest
                  payment obligations to Paribas, excluding any default interest
                  or fees (unless the default is caused by the failure of the
                  Lender to advance funds as and when required hereunder).

         (ii)     The Lender's commitment to make advances shall immediately,
                  and without further action on the part of the Lender,
                  terminate on the date on which the Borrower is no longer
                  employed by a member of the CompleTel Group for whatever
                  reason.

         The Lender shall maintain in accordance with its usual practice
         accounts evidencing the amounts from time to time lent by the Lender,
         repaid by the Borrower and the net amount owing to the Lender
         hereunder.

3.       The Loan shall be interest free, unless and until an Event of Default
         hereunder shall occur and be continuing, at which time the Loan shall
         bear interest as set forth in clause 6 below.

4.       The Borrower may prepay all or any amount owing under this Agreement,
         at any time and from time to time, without penalty or premium. At the
         option of the Lender, the Lender may demand that the Borrower repay the
         outstanding principal amount of the Loan, together with any other
         amounts due and payable hereunder, including without limitation,
         default interest, in full on the date which is the earlier of:

         (i)      eighteen (18) months after the date this Agreement becomes
                  effective; or

         (ii)     thirty (30) days after the date on which the Borrower's
                  employment with the CompleTel Group terminates as a result of
                  a Termination For Cause.

5.       All payments by the Borrower under this Agreement must be made in
         immediately available funds (in the same currency in which the Loan was
         made) to the Lender at the Lender's principal place of business or at
         such other place and to the bank account as the Lender may designate in
         writing from time to time.

6.       Time is of the essence hereof. At the option of the Lender, payment of
         the outstanding Loan and any and all accrued interest thereon may be
         accelerated, and such amounts will be immediately due and payable
         without further notice or demand upon the occurrence of any of the
         following events (each an "EVENT OF DEFAULT"):

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         (i)      The Borrower's failure to make any payment of any amounts
                  required to be paid hereunder within 10 days after notice from
                  the Lender that such amount is due or has been declared due in
                  accordance with the terms of this Agreement; or

         (ii)     The occurrence of any other default by the Borrower under this
                  Agreement or any event of default under the Paribas Loan,
                  which has not been remedied within 30 days after the Lender
                  has given written notice thereof to the Borrower.

         Unpaid principal on the Loan not paid when due or declared due
         hereunder will bear interest at the rate of 6% per annum until paid,
         which shall be due and payable on demand.

7.       Whenever the Lender sustains or incurs any losses or out-of-pocket
         expenses with respect to this Agreement in connection with (i) failure
         by the Borrower to pay all principal and interest on this Agreement,
         when due hereunder (whether at maturity, by reason of acceleration, or
         otherwise), or (ii) the preservation and/or enforcement of any rights
         of the Lender under this agreement or any associated documents, the
         Borrower will pay, on demand, to the Lender, in addition to any other
         penalties or premiums hereunder, an amount sufficient to compensate the
         Lender for all such losses or out-of-pocket expenses, including,
         without limitation, all costs and expenses of a suit or proceeding (or
         any appeal thereof) brought for recovery of all or any part of or for
         protection of the indebtedness evidenced by this Agreement or to
         enforce the Lender's rights hereunder, including reasonable legal fees
         and expenses.

8.       The remedies provided in this Agreement are cumulative, and are in
         addition to any other rights or remedies now or hereafter provided by
         law or equity. No failure or delay in exercising any of the rights of
         the Lender hereunder shall operate as a waiver, or preclude the further
         exercise, of any such rights.

9.       This Agreement may be changed, modified or amended only by an agreement
         in writing, signed by both parties hereto.

10.      All payments under this Agreement to the Lender shall be made by the
         Borrower without any deduction for any set-off, suspension or
         counterclaim and without withholding or deduction for or on account of
         any present or future taxes, duties, assessments or governmental
         charges of whatever nature, unless the withholding of such taxes or
         duties is required by applicable law. For the avoidance of doubt, the
         Borrower acknowledges she is responsible for paying any taxes incurred
         by her as a result of the Paribas Loan, this Agreement or any
         associated documents or transactions.

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<PAGE>

11.      This Agreement shall be binding upon the Borrower and her successors
         and assigns and will inure to the benefit of and be enforceable by the
         Lender and its successors and assigns.

12.      If, at anytime, any provision of this Agreement is or becomes illegal,
         invalid or unenforceable in any respect under the law of any
         jurisdiction, neither the legality, validity or enforceability of the
         remaining provisions of this Agreement nor the legality, validity or
         enforceability of the provision under the law of any other jurisdiction
         shall in any way be affected or impaired as a result.

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<PAGE>

13.      The parties shall do all acts and things (including the execution of
         documents) as are required to give effect to this Agreement.

14.      This Agreement shall be governed by and construed in accordance with
         the laws of The Netherlands. The Borrower and the Lender agree that any
         dispute related to this Agreement and/or any agreements arising out of
         this Agreement shall be finally settled by arbitration under the Rules
         of Arbitration of the International Chamber of Commerce (the "Rules")
         by one arbitrator to be appointed (in the absence of agreement between
         the parties) in accordance with the Rules. The language of the
         arbitration shall be English and the venue of the arbitration shall be
         London.

15.      The Borrower may neither assign its rights nor delegate its duties
         under this Agreement without obtaining the Lender's prior written
         consent. The Lender may assign all of its rights and obligations under
         this Agreement to any member of the CompleTel Group, so long as such
         assignment does not increase the tax liability of the Borrower.

16.      This Agreement may be executed in any number of counterparts with
         different parties executing different counterparts, each of which, when
         executed, shall constitute an original and all of which together shall
         constitute one instrument.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed on the ___ day of ________, 2000 to be effective as of the date first
above written.

THE LENDER:
COMPLETEL EUROPE N.V.

By:______________________________
      Name:
      Title:

THE BORROWER:

_________________________________
      Name:

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<TABLE>
<CAPTION>

SCHEDULE I - AGREEMNTS ENTERED INTO UNDER THE FORM AGREEMENT

<S>                                   <C>                                 <C>
------------------------------------- ----------------------------------- -----------------------------------
NAME OF EMPLOYEE                      AMOUNT OF PARIBAS LOAN              AMOUNT OF PRIBAS FEES
------------------------------------- ----------------------------------- -----------------------------------
Martin Rushe                          E309,000                            E1,665.55
------------------------------------- ----------------------------------- -----------------------------------
Jerome de Vitry                       E567,000                            E2,865.25
------------------------------------- ----------------------------------- -----------------------------------
Hansjoerg Rieder                      E567,000                            E2,865.25
------------------------------------- ----------------------------------- -----------------------------------
</TABLE>

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