Document:

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                                                                   Exhibit 10.80

                             EMPLOYMENT AGREEMENT

          THIS EMPLOYMENT AGREEMENT ("Agreement") is made as of the 26/th/ day
of February, 2001, by and between ICG Communications, Inc. ("Employer" or the
"Company") and Bernard L. Zuroff ("Employee").

                                R E C I T A L S

          WHEREAS, the Company desires to employ Employee as provided herein;
and

          WHEREAS, Employee desires to be employed by Employer as provided
herein.

          NOW, THEREFORE, in consideration of the mutual covenants and
agreements contained herein, the parties agree as follows:

          1.  Employment.  The Company agrees to employ Employee and Employee
              ----------
hereby agrees to be employed on a full-time basis by the Company or by such of
its subsidiary or affiliate corporations as determined by the Company in such
position as is mutually agreed, for the period and upon the terms and conditions
hereinafter set forth.

          2.  Duties.  During his employment, Employee shall perform the duties
              ------
and bear the responsibilities commensurate with his position and shall serve the
Employer faithfully and to the best of his ability.  Employee shall devote 100%
of his working time to carrying out his obligations hereunder.

          3.  Compensation and Benefits.
              -------------------------

              3.1 The Company shall pay Employee during the Term of this
Agreement an annual base salary, payable bi-weekly. The annual base salary will
initially be One -Hundred Ninety Thousand Dollars ($190,000.00).

              3.2 In addition to salary payments as provided above, the Company
will provide Employee with the benefits of such insurance plans, hospitalization
plans, and other benefits as shall be generally provided to employees of the
Company at his level and for which Employee may be eligible under the terms and
conditions thereof, until this Agreement is terminated.

              3.3 The Company will reimburse Employee for all reasonable out-of-
pocket expenses incurred by Employee in connection with the business of the
Company and the performance of his duties under this Agreement, upon
presentation to the Company by Employee of an itemized accounting of such
expenses with reasonable supporting data, until this Agreement is terminated.

              3.4 If Employee becomes disabled, Employee will be entitled to all
benefits provided under any disability plans of the Company.

          4.  Term.  Notwithstanding anything herein to the contrary, Employee
              -----
is an at-will employee of the Company and may be terminated at any time with or
without Cause, as defined below.  The applicable provisions of Sections 6, 7,
and 8 shall remain in full force and effect for the time periods specified in
such Sections notwithstanding the termination of this Agreement.

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     5.   Termination.
          -----------

          5.1   If Employee dies during the Term of this Agreement, this
Agreement will terminate.  The Company will pay the estate of Employee an amount
equal to three (3) months salary.

          5.2   For the purposes of this Agreement, a "Change in Control" of the
Company shall mean and be deemed to have occurred if (a) there is a merger or
consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) at least 50% of the combined voting power of the voting
securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation or (b) the Company shall sell or otherwise dispose
of, in one transaction or a series of related transactions, assets aggregating
more than 50% of the assets of the Company and its subsidiaries consolidated.

          5.3   For the purposes of this Agreement, "Constructive Dismissal"
shall mean the resignation of the Employee as a result of any of the following
actions by the Company:

          (i)   any reduction in the annual salary of Employee (unless for
                Cause);

          (ii)  any requirement to relocate to another state or country; or

          (iii) any material reduction in the value of Employee's benefit plans
                and programs, as of the date hereof (unless for Cause).

          5.4   For purposes of this Agreement, "Cause" shall be defined as (i)
an Employee's willful and continued failure to substantially perform his duties
hereunder (other than or a result of a disability) or (ii) gross negligence,
intentional misconduct or the commission of a felony by the Employee.

          5.5   If this Agreement is terminated by the Company for any reason
other than the Employee's death, disability or for Cause, or there is a
Constructive Dismissal, the Company will pay Employee a termination fee in lieu
of any remaining salary hereunder or any severance benefit (other than pursuant
to the Retention Plan approved by the United States Bankruptcy Court for the
District of Delaware on December 19, 2000) equal to twelve month's salary at the
rate then in effect (the "Termination Fee").  Fifty percent (50%) of the
Termination Fee shall be made in a single lump sum within 15 business days after
such termination.  The remaining fifty percent (50%) of the Termination Fee
shall be payable in twelve (12) equal monthly payments commencing 30 days after
the date of termination, subject to mitigation on a dollar for dollar basis
based upon salary paid from any new employment for the Employee at any time
during such twelve  (12) month period.  Employee hereby agrees to immediately
notify the Company of any new employment during such 12 month period.
Notwithstanding anything to the contrary, if Employee becomes employed by the
successor to the Company or substantially all of its assets as a result of a
Change in Control, upon such Change in Control or immediately thereafter, with
substantially similar duties and no reduction in base salary, and a Constructive
Dismissal does not otherwise occur, the termination fee set forth herein shall
not be payable.

     6.   Non-Interference.
          ----------------

          6.1   For a period of twelve (12) months after the termination of this
Agreement, Employee shall not (i) directly or indirectly cause or attempt to
cause any employee of the Company of its affiliates to leave the employ of the
Company or any affiliate, (ii) in any way interfere with the relationship
between the Company and any employee or between an

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<PAGE>

affiliate and any employee of the affiliate, or (iii) interfere or attempt to
interfere with any transaction in which the Company or any of its affiliates was
involved prior to termination.

          6.2   Employee agrees that, because of the nature and sensitivity of
the information to which he will be privy and because of the nature and scope of
the Company's business, the restrictions contained in this Section 6 are fair
and reasonable.

     7.   Confidential Information.
          ------------------------

          7.1   The relationship between the Company and Employee is one of
confidence and trust.  This relationship and the rights granted and duties
imposed by this Section shall continue until a date ten (10) years from the date
Employee's employment is terminated.

          7.2   As used in this Agreement (i) "Confidential Information" means
information disclosed to or acquired by Employee about the Company's plans,
products, processes and services, including information relating to research,
development, inventions, manufacturing, purchasing, accounting, engineering,
marketing, merchandising, selling, pricing, tariffed or contractual terms,
customer lists and prospect lists and other market information, with respect to
any of the Company's business activities; and (ii) "Inventions" means any
inventions, discoveries, concepts and ideas, whether patentable or not,
including, without limitation, processes, methods, formulas, and techniques (as
well as related improvements and knowledge) that are based on or related to
Confidential Information, that pertain in any manner to the Company's
technology, expertise or business and that are made or conceived by Employee,
either solely or jointly with others, and while employed by the Company or
within six (6) months thereafter, whether or not made or conceived during
working hours or with the use of the Company's facilities, materials or
personnel.

          7.3   Employee agrees that  he shall at no time (before or after
termination) disclose any Confidential Information to any person, firm or
corporation to any extent or for any reason or purpose or use any Confidential
Information for any purpose other than the conduct of the Company's business.

          7.4   Any Confidential Information that is directly or indirectly
originated, developed or perfected to any degree by Employee during the term of
his employment by the Company shall be and remain the sole property of the
Company and shall be deemed trade secrets of the Company.

          7.5   Upon termination of Employee's employment pursuant to any of the
provisions herein, Employee or his legal representative shall deliver to the
Company all originals and all duplicates and/or copies of all documents,
records, notebooks, and similar repositories of or containing Confidential
Information then in his possession, whether prepared by him or not.

          7.6   Employee agrees that the covenants and agreements contained in
this Section 7 are fair and reasonable and that no waiver or modification of
this Section or any covenant or condition set forth herein shall be valid unless
set forth in writing and duly executed by the parties hereto.

8.   Injunctive Relief.  Upon a material breach or threatened material breach by
     -----------------
Employee of any of the provisions of Sections 6 or 7 of this Agreement, the
Company shall be entitled to an injunction restraining Employee from such
breach.  Nothing herein shall be construed as prohibiting the Company from
pursuing any other remedies for such breach or threatened breach, including
recovery of damages from Employee.

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<PAGE>

     9.   No Waiver.  A waiver by the Company of a breach of any provision of
          ---------
this Agreement by Employee shall not operate or be construed as a waiver of any
subsequent or other breach by Employee.

     10.  Severability.  It is the desire and intent of the parties that the
          ------------
provisions of this Agreement shall be enforced to the fullest extent permissible
under the laws and public policies applied in each jurisdiction in which
enforcement is sought.  Accordingly, if any particular provision or portion of
this Agreement shall be adjudicated to be invalid or unenforceable, this
Agreement shall be deemed amended to delete therefrom the portion thus
adjudicated to be invalid or unenforceable, such deletion to apply only with
respect to the operation of such provision in the particular jurisdiction in
which such adjudication is made.

     11.  Notices.  All communications, requests, consents and other notices
          -------
provided for in this Agreement shall be in writing and shall be deemed given if
delivered by hand or mailed by first class mail, postage prepaid, to the last
known address of the recipient.

     12.  Governing Law.  This Agreement shall be governed by and construed and
          -------------
enforced in accordance with the laws of the State of Colorado.  The parties
hereto irrevocably consent to the jurisdiction of the United States Bankruptcy
Court for the District of Delaware with respect to any claims or actions arising
hereunder or related hereto.

     13.  Amendments.  No provision of this Agreement shall be altered, amended,
          ----------
revoked or waived except by an instrument in writing, signed by each party to
this Agreement.

     14.  Binding Effect.  Except as otherwise provided herein, this Agreement
          --------------
shall be binding upon and shall inure to the benefit of the parties hereto and
their respective legal representatives, heirs, successors and assigns.

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

     16.  Entire Agreement and Waiver of Claims.  This Agreement sets forth the
          --------------------------------------
entire agreement and understanding of the parties and supersedes all prior
understandings, agreements or representations by or between the parties, whether
written or oral, which relate in any way to the subject matter hereof.   By
accepting this agreement, Employee waives any claims arising under any prior
employment agreements with the Company or the Company's corporate severance
policy.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.

                               /s/ Bernard L. Zuroff
                              -----------------------------------------
                              Bernard L. Zuroff, Employee

                         ICG COMMUNICATIONS, INC.

                              By:    /s/ Gayle Landis
                                     ----------------------------------
                              Name:  Gayle Landis
                                     ----------------------------------
                              Title: SVP People Services
                                     ----------------------------------

                                       4<PAGE>

                                                                   Exhibit 10.81

                           FOURTH AMENDMENT TO LEASE
                           -------------------------

     THIS FOURTH AMENDMENT TO LEASE (this "Amendment") is made effective as of
June 28, 2001 (the "Effective Date") and is entered into between TRINET REALTY
                                                                 -------------
INVESTORS V, INC., a Maryland corporation ("Landlord"), and ICG HOLDINGS, INC.,
-----------------------------------------                   ------------------
a Colorado corporation ("Tenant").

                                   RECITALS
                                   --------

     A.   TriNet Essential Facilities X, Inc., a Maryland corporation ("TEFX")
and Tenant entered into a lease dated as of January 15, 1998, with respect to
premises commonly known as 161 Inverness Drive West, Englewood, Colorado (the
"Premises"), which lease was amended by the First Amendment to Lease between
TEFX and Tenant dated as of January 1, 1999, by the Second Amendment to Lease
between ICG 161, L.P., a Delaware limited partnership ("ICG 161") and Tenant
dated as of May 1, 1999, and by the Third Amendment to Lease between ICG 161 and
Tenant dated as of May 1, 1999 (as so amended, the "Existing Lease").
Capitalized terms not otherwise defined herein shall have the meanings set forth
in the Existing Lease. As used herein, the term "Lease" shall mean the Existing
Lease as amended hereby.

     B.   TriNet Realty Capital, Inc., a Maryland corporation ("Lender") made a
loan to ICG Services, Inc., a Delaware corporation ("ICG Services"), pursuant to
the terms and conditions of that certain Loan Agreement, dated as of January 1,
1999, by and among Lender and ICG Services, the proceeds of which loan ICG
Services used to purchase the Premises and which Loan is secured by a Deed of
Trust encumbering the Premises (the "Deed of Trust").

     C.   ICG Services subsequently sold the Premises to ICG 161 and ICG 161
acquired the Premises, subject to the Deed of Trust and, in connection with such
sale and acquisition, ICG 161 assumed ICG Services' obligations under the Loan
Agreement, Deed of Trust and related loan documents pursuant to the terms and
conditions of that certain Amended and Restated Loan Agreement, dated as of May
1, 1999, by and between Lender and ICG 161 (the "Loan Agreement").

     D.   The general partner of ICG 161 is ICG Corporate Headquarters, L.L.C.,
a Colorado limited liability company ("ICG Partner"), which owns a 99% interest;
the other one percent is owned by Landlord, as a limited partner. The
partnership agreement of ICG 161 contains an option in favor of Landlord, or its
designated affiliate, to purchase the partnership interest of the ICG Partner,
or to purchase of the Premises, upon certain conditions and in certain
circumstances.

     E.   Landlord has exercised its option pursuant to the partnership
agreement of ICG 161 to acquire the Premises by deed. Accordingly, Landlord is
the successor landlord under the Existing Lease. Landlord also has assumed the
duties and obligations of the borrower under the Amended and Restated Loan
Agreement, Deed of Trust and related loan documents pursuant to a Loan
Modification Agreement between Landlord and Lender dated as of June 28, 2001
(the "Loan Modification Agreement").
<PAGE>

     F.   TEFX, Tenant, Lender and Landlord (as successor to ICG 161) are
parties to, and intend to terminate as of the date of this Amendment, that
certain Subdivision Agreement, dated as of May 1, 1999, respecting the possible
subdivision of the Premises.

     G.   ICG Services has entered into that certain Construction Contract (the
"Construction Contract"), dated as of March 27, 2000, between ICG Services, as
owner, and Bovis Lend Lease, Inc. ("Bovis"), as contractor, to construct a
parking structure on the Premises (the "Garage"). The construction of the Garage
commenced in 2000 and is partially completed. ICG Services has defaulted under
the Construction Contract by failing to pay invoices on time and failing to
provide assurances of financial capacity as required under the Construction
Contract. Therefore, Bovis has ceased work on the Garage. ICG Services and
Tenant are financially incapable of completing the Garage.

     H.   On November 14, 2000, Tenant filed a petition for reorganization
relief under Chapter 11 of Title 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court for the District of Delaware (Case No. 00-4238
(PJW) (the "Bankruptcy Proceedings").

     I.   Landlord has asked Lender for an additional advance of $7,800,000
under the Loan Agreement (the "Additional Advance") the proceeds of which are to
be used to pay the cost of completing the Garage, including, without limitation,
the payment of invoices which are outstanding for work done on the Garage prior
to the Effective Date. Lender is willing to make such Additional Advance,
subject to the terms and conditions of the Loan Modification Agreement.

     J.   Tenant is willing to fund the amount, if any, by which the cost to
complete the Garage exceeds the Additional Advance, subject to the terms and
conditions contained in this Amendment.

     K.   Landlord is willing to complete construction of the Garage, subject to
the terms and conditions contained in this Amendment and the Loan Modification
Agreement, including, without limitation, the requirement that the term of the
Lease be extended.

     L.   Tenant wishes to be released from liability for completion of the
Garage construction.

     M.   Tenant and Landlord wish to amend the Existing Lease as set forth in
this Amendment.

     NOW, THEREFORE, in consideration of the covenants set forth herein,
Landlord and Tenant hereby agree as follows:

                                  AGREEMENTS
                                  ----------

     1.   Effective Date. This Amendment shall become effective as of the
          --------------
Effective Date. From and after the Effective Date, the term "Lease," as used in
the Lease shall have the meaning set forth in this Amendment.

                                      -2-
<PAGE>

     2.    Garage. Landlord hereby releases Tenant from any obligation to
           ------
complete or pay for construction of the Garage, except as provided in paragraph
7 below. Once construction of the Garage has been completed, the Garage shall
thereafter be the property of Landlord and shall be deemed to be part of the
Premises for all purposes under the Lease, including, without limitation,
Tenant's obligation to pay Operating Expenses in accordance with Articles 4 and
5 of the Lease. Section 12.1(b)(ii) of the Existing Lease is hereby amended to
permit use of the Garage and the surface parking areas of the Premises for
parking. Section 6.1(b) of the Existing Lease is amended to permit parking uses
in the Garage and surface parking areas of the Premises. Nothing contained
herein shall prohibit a sublease of the Garage and surface parking areas of the
Premises, or a portion thereof, by Tenant, subject to Landlord's consent rights
contained in Section 12.1 of the Existing Lease, and Landlord agrees it will not
withhold its consent to any proposed sublease based upon the fact that such use
by the subtenant is not incidental to use of the Building.

     3.    Security Deposit and Indemnities. Sections 24.2 through 24.9 of the
           --------------------------------
Existing Lease, Paragraphs 4, 5 and 6 of the First Amendment to Lease and the
entire Third Amendment to Lease are hereby deleted in their entirety. Landlord
and Tenant acknowledge that no security deposit was paid pursuant to the Third
Amendment to Lease, notwithstanding the terms of the Third Amendment to Lease.
Tenant agrees Landlord has no obligation with respect to any security deposit
previously paid under the Lease.

     4.    Subdivision of the Premises. Paragraph 2 of the Second Amendment to
           ---------------------------
Lease is hereby deleted in its entirety and Article 26 of the Existing Lease
is hereby reinstated.

     5.    Term of Lease. The term of the Lease, set forth in the Basic Lease
           -------------
Information and Section 2.1 of the Existing Lease, is hereby extended by a
period of ten years. The new Expiration Date shall be January 31, 2023. Rent due
under the Lease during the extended term shall be adjusted to reflect annual
increases in accordance with Article 3 of the Existing Lease. The Exercise
Period for the Expansion Option provided in Article 26 of the Existing Lease is
hereby extended up to and including the twentieth (20/th/) anniversary of the
Commencement Date; provided, that, so long as the Termination Right described in
paragraph 10 before remains in effect, neither Tenant nor any successor tenant
under the Lease shall have a right to exercise the Expansion Option.

     6.    Operating Expenses. Section 5.1 of the Existing Lease is hereby
           ------------------
amended to provide that, in addition to those costs identified in clauses (i)
through (viii) of said Section, Operating Expenses shall not include overhead
and employee costs of Landlord and Landlord's property management company in
excess of 50% of the usual and customary salary and benefits for one property
manager and one administrative assistant.

     7.    Completion of Garage Construction; Payment of Liens.
           ---------------------------------------------------

     (a)   The anticipated Actual Costs to Complete Garage Construction
are set forth on the line item project budget attached as Exhibit A hereto (the
                                                          ---------
"Project Budget"). The plans and specifications for the Garage are identified on
Exhibit B attached hereto (the "Project Plans"). Reference is also made to the
---------
Novated Construction Agreement entered into by Landlord and Bovis dated as of
June 28, 2001 (the "Replacement Construction Contract"), the Agreement

                                      -3-
<PAGE>

Between Owner and Architect entered into by Landlord and Fentress Bradburn
Architects Ltd. dated as of June 28, 2001 (the "Architect's Agreement"), and the
Agreement Between Owner and Consultant entered into by Landlord and Ground
Engineering Consultants Inc. dated as of June 28, 2001 (the "Consultant's
Agreement"). Landlord agrees to complete construction of the Garage in a good
and workmanlike manner in accordance with the Project Plans using the Additional
Advance. Landlord shall commence completion of the Garage promptly following the
Effective Date and shall diligently proceed with such work, using commercially
reasonable efforts to substantially complete the Garage on or before March 31,
2002, subject to Tenant's obligation to pay for and deposit with Landlord any
Cost Overage as set forth below in subparagraph (b) (as qualified by
subparagraph (c) below).

     (b)    If at any time Landlord reasonably determines that the Actual Costs
to Complete Garage Construction (as defined below) will exceed the amount of the
Additional Advance, then Landlord shall notify Tenant in writing and Tenant
shall deposit with Landlord the difference between the projected Actual Costs to
Complete Garage Construction and the Additional Advance (the "Cost Overage").
Invoices for labor, materials or services provided in connection with completion
of Garage construction shall be paid first from the Additional Advance and, once
the Additional Advance has been fully disbursed, from funds deposited by Tenant.
Any funds of Tenant deposited with Landlord not used to pay Actual Costs to
Complete Garage Construction shall be refunded to Tenant promptly following
completion of the Garage and the final determination of the Actual Costs to
Complete Garage Construction. Landlord will process all draws in the same manner
and with the same degree of care it applies to the processing of draws for other
construction projects on properties owned by Landlord. Landlord shall provide
Tenant's designated representative with copies of each construction draw,
including invoices, the schedule of values and other supporting documentation
promptly upon Landlord's receipt of the draw and prior to payment.

     (c)    Tenant's obligation to fund the Cost Overage shall be subject to the
following conditions precedent:

            (i)     The Replacement Construction Contract, the Architect's
                    Agreement and the Consultant's Agreement shall not be
                    modified in any material respect, or replaced, nor shall a
                    different general contractor, architectural firm or
                    consulting firm be engaged, without Tenant's written consent
                    which shall not be unreasonably withheld;

            (ii)    Tenant's prior written approval, which shall not be
                    unreasonably withheld, shall be obtained for any change
                    order, change in service, change directive or other document
                    modifying,  the Replacement Construction Contract, the
                    Architect's Agreement or the Consultant's Agreement, which
                    either singly, or in the aggregate with other previous or
                    future change orders, changes in service, change directives
                    or modifications, could increase the Actual Costs to
                    Complete Garage Construction to an amount in excess of the
                    Additional Advance;

            (iii)   Landlord shall use the Additional Advance solely to pay
                    Actual Costs to Complete Garage Construction.

                                      -4-
<PAGE>

     (d)    "Actual Costs to Complete Garage Construction" shall mean the sum
of: (i) any cost identified on the Project Budget except the $230,000 Overall
Project Contingency identified therein; (ii) any cost increase in the Project
Budget resulting from a written change order or change directive to the
Replacement Construction Contract, or a written change of service to the
Architect's Agreement or Consultant's Agreement, which is approved in writing by
Landlord, Tenant and Lender; (iii) any amounts not reflected in the Project
Budget which are properly due and payable under the Replacement Construction
Contract, the Architect's Agreement or the Consultant's Agreement for reasons
other than owner, contractor, architect or consultant default or delay occurring
after the Effective Date; and (iv) any amounts expended from the $230,000
Overall Project Contingency shown on the Project Budget which are used to pay
reimbursables or other design, engineering, consulting, and construction costs
directly related to construction of the Garage. Actual Costs to Complete Garage
Construction shall not include any amounts payable to consultants engaged by
Lender except for the $230,000 iStar Financial Construction Management Fee set
forth in the Project Budget.

     (e)    Landlord hereby releases Tenant from the obligation to complete and
pay for the Garage construction except for Tenant's obligation to fund the Cost
Overage contained herein.

     (f)    Landlord shall provide a designated representative of Tenant with
complete copies of any change orders, change directives, changes in service,
modifications or amendments to the Project Plans and the Replacement
Construction Contract, the Architect's Agreement and the Consultant's Agreement,
regardless of whether Tenant's consent to such documents is required under the
terms of this Amendment. Landlord shall permit representatives of Tenant and ICG
Services to attend construction meetings and will regularly consult with those
representatives regarding the completion of the Garage construction.

     8.     Development Costs.  Tenant hereby assumes the obligations of
            -----------------
"Developer" under the Development Agreement recorded June 8, 2000 under
Reception No. B0068912, the Traffic Signal Escrow Agreement recorded June 8,
2000 under Reception No. B0068913, the Escrow Contract and Security Agreement
recorded June 8, 2000 under Reception No. B0068914 and the Escrow Contract and
Security Agreement recorded June 8, 2000 under Reception No. B0068915, all
between ICG 161 and Arapahoe County or the Arapahoe County Board of County
Commissioners (individually, a "Development Agreement", and collectively, the
"Development Agreements"), and agrees to perform all responsibilities of
Developer and pay any amounts due from Developer thereunder.  Tenant hereby
indemnifies and holds harmless Landlord from and against any and all claims,
liabilities, losses, damages, demands, costs and expenses (including reasonable
attorneys' fees) arising out of or in any way relating to the Development
Agreements.  Landlord agrees that all security posted by ICG 161 in connection
with the Development Agreements constitutes the property of Tenant.

     9.     Warranty Items.  Following substantial completion of the Garage
            --------------
construction, Tenant shall be entitled to participate in the final inspection
between the Landlord and the contractor and to contribute to any punch list.
Landlord will diligently exercise its remedies under the Replacement
Construction Contract to seek repair or replacement of any defective work on the
Garage.

                                      -5-
<PAGE>

     10.    Non-ICG Purchase Termination Right and Assignment. Notwithstanding
            -------------------------------------------------
the provisions of Article 12 of the Existing Lease, Tenant shall have a right to
assign the Lease without Landlord's consent at any time up to and including the
first year anniversary of the Effective Date to any entity entirely unaffiliated
with Tenant, ICG Services or ICG Partner (the "Non-ICG Purchaser") which
acquires more than 50% of the assets or voting securities of (a) Tenant, (b) ICG
Communications, Inc. or (c) any subsidiary of ICG Communications, Inc. which is
a direct or indirect parent of Tenant; provided, that the Non-ICG Purchaser
assumes the Lease. The Non-ICG Purchaser shall have a right to terminate the
Lease (the "Termination Right") by giving written notice (the "Termination
Notice") to Landlord of its exercise of such Termination Right at any time
during the pendency of the Bankruptcy Proceedings. The Termination Notice must
state the date the Non-ICG Purchaser's exercise of the Termination Right will
become effective which shall be no earlier than 30 days after the date the
Termination Notice is received by Landlord in accordance with Section 23.1 of
the Existing Lease and no later than 90 days after the date the Termination
Notice is received by Landlord (the "Termination Date"). To be effective, the
Termination Notice must be accompanied by a payment of the Base Rent which would
become due for the two year period immediately following the Termination Date.

     11.    Rejection of Lease. If the Lease has not been assigned to a Non-ICG
            ------------------
Purchaser and Tenant is liquidated, Tenant may reject the Lease at any time
during the pendency of the Bankruptcy Proceedings and, in such event, Tenant
shall stipulate to allowing Landlord an administrative claim for damages of the
Landlord resulting therefrom equal to two years' Base Rent (calculated from the
rejection date). If Tenant so rejects the Lease, Tenant shall provide Landlord
with written notice of such rejection, setting forth the date that the Lease
will terminate in accordance therewith, which termination date shall be no
earlier than 30 days after the date the written notice of rejection is received
by Landlord and no later than 90 days after the date of Landlord's receipt of
the written notice.

     12.    Landlord's Address. Landlord hereby notifies Tenant that its address
            ------------------
for receiving requests, approvals, consents, notices and other communications
under the Existing Lease has been changed to:

            TriNet Realty Investors V, Inc.
            c/o iStar Financial, Inc.
            6565 North MacArthur Blvd., Suite 410
            Irving, TX  75039
            Attn:  Ms. Elizabeth Smith

            With a copy to:

            Nina B. Matis, Esq.
            iStar Financial, Inc.
            1114 Avenue of the Americas
            27/th/ Floor
            New York, NY  10036

                                      -6-
<PAGE>

     13.    Release and Waiver. Landlord hereby releases Tenant and ICG Services
            ------------------
and ICG Holdings (Canada) Co. and their respective officers, directors,
employees and agents from any and all liabilities, losses, damages, demands,
costs and or expenses under the Lease and the Continuing Lease Guaranty,
heretofore arising out of, or in any way relating to, the construction of the
Garage, the stoppage of the work on the Garage, and the other lease defaults
discussed in the recitals to this Amendment and waives all defaults under the
Lease relating thereto, heretofore or presently existing. Such releases and
waivers shall not extend to the undertakings of Tenant in this Amendment.

     14.    Confirmation of Lease; Complete Agreement. Except as amended hereby,
            -----------------------------------------
the Existing Lease is unmodified, and as amended hereby, the Lease remains in
full force and effect. There are no oral agreements between Landlord and Tenant
relating to the Lease, the Premises or this Amendment; and the Lease as amended
by this Amendment supersedes and cancels any and all previous negotiations,
arrangements, brochures, offers, agreements and understandings, oral or written,
if any, between Landlord and Tenant with respect to the leasing of the Premises
pursuant to the Lease.

                                      -7-
<PAGE>

     IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of
the date first above written.

Landlord:                                    Tenant:
TRINET REALTY INVESTORS V, INC., a           ICG HOLDINGS, INC.,
Maryland corporation                         a Colorado corporation

By /s/ Elizabeth B. Smith                    By /s/ Bernard L. Zuroff
   ----------------------------                 ----------------------------
   Elizabeth B. Smith                           Bernard L. Zuroff
   Senior Vice President                        Executive Vice President

The undersigned Guarantors of the Existing Lease hereby consent to the foregoing
Amendment and confirm and agree that the Continuing Lease Guaranties remain in
full force and effect.

ICG COMMUNICATIONS, INC.,
a Delaware corporation

By /s/ Bernard L. Zuroff
   ----------------------------
   Bernard L. Zuroff
   Executive Vice President

ICG HOLDINGS (CANADA), CO.,
a Nova Scotia unlimited liability company

By /s/ Bernard L. Zuroff
   ----------------------------
   Bernard L. Zuroff
   Executive Vice President

                                      -8-
<PAGE>

     Lender is signing below to acknowledge its consent to the foregoing
Amendment pursuant to paragraph 5(e) of the Subordination, Non-Disturbance and
Attornment Agreement dated as of May 1, 1999 among Landlord, Tenant and Lender.

TRINET REALTY CAPITAL, INC.,
a Maryland corporation

By: /s/ Elizabeth B. Smith
    -----------------------------
    Elizabeth B. Smith
    Senior Vice President

                                      -9-
<PAGE>

                                   EXHIBIT A
                                   ---------

                                Project Budget
                                --------------

[Line item budget to include list of payments to mechanic's lien claimants]

                                      -10-
<PAGE>

                                   EXHIBIT B
                                   ---------

                       Project Plans And Specifications
                       --------------------------------

                                      -11-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00027-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00027-of-00352.parquet"}]]