Document:

<PAGE>
                                                                   EXHIBIT 10.30
                                                                  CONFORMED COPY

                                FIRST AMENDMENT
                                     TO THE
                           FIRST AMENDED AND RESTATED
                          AGREEMENT AND PLAN OF MERGER
                             DATED AUGUST 11, 2000
                                     AMONG
                     UNITED PAN-EUROPE COMMUNICATIONS N.V.,
                             PRIORITY TELECOM N.V.,
                     PRIORITY ACQUISITION SUBSIDIARY, INC.
                                      AND
                       CIGNAL GLOBAL COMMUNICATIONS, INC.
                             DATED AUGUST 29, 2000

                                 ALLEN & OVERY
                                    NEW YORK
<PAGE>
    FIRST AMENDMENT TO THE FIRST AMENDED AND RESTATED AGREEMENT AND PLAN OF
MERGER dated as of August 29, 2000 by and among United Pan-Europe Communications
N.V., a public company incorporated with limited liability under the laws of The
Netherlands ("UPC"), Priority Telecom N.V. a private company incorporated with
limited liability under the laws of The Netherlands ("PRIORITY"), Priority
Acquisition Subsidiary, Inc., a Delaware corporation and a wholly owned direct
subsidiary of Priority ("MERGER SUB"), and Cignal Global Communications, Inc., a
Delaware corporation ("CIGNAL").

                                  WITNESSETH:

    WHEREAS, an Agreement and Plan of Merger, dated as of May 19, 2000 (the
"ORIGINAL AGREEMENT"), among UPC, Priority, Merger Sub, and Cignal was duly
executed by the parties thereto, which provides for, among other things, the
merger of Merger Sub into Cignal;

    WHEREAS, a First Amended and Restated Agreement and Plan of Merger, dated as
of August 11, 2000 (the "MERGER AGREEMENT"), among UPC, Priority, Merger Sub and
Cignal was duly executed by the parties thereto to amend and restate the
Original Agreement in its entirety;

    WHEREAS, the parties hereby desire to amend Article 7.1 of the Merger
Agreement as provided for below and the substance of such amendment has been
approved by the consent of each of the parties to the Merger Agreement as of the
date hereof;

    WHEREAS, all things necessary have been done to make this Amendment to the
Merger Agreement valid according to its terms and the terms of the Merger
Agreement;

              NOW THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:

    Section 1.1 Amendment of Article 7.1 Article 7.1 of the Merger Agreement is
hereby amended by the deletion from subsection (b) of the date "August 31, 2000"
and its replacement by the date "October 31, 2000".

                                       1
<PAGE>
    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to the
Merger Agreement to be duly executed, as of August 29, 2000.

UNITED PAN-EUROPE COMMUNICATIONS, N.V.,

<TABLE>
<S>      <C>
By:      /s/ JOHN RIORDAN
         ----------------------------------------------------
         John Riordan
         PRESIDENT--UPC

By:      /s/ ANTON M. TUIJTEN
         ----------------------------------------------------
         Anton M. Tuijten
         GENERAL COUNSEL
</TABLE>

PRIORITY TELECOM N.V.

<TABLE>
<S>      <C>
By:      /s/ JEREMY EVANS
         ----------------------------------------------------
         Jeremy Evans
         GENERAL COUNSEL

By:      /s/ JOHN RIORDAN
         ----------------------------------------------------
         John Riordan
         PRESIDENT--PRIORITY
</TABLE>

PRIORITY ACQUISITION SUBSIDIARY, INC.

<TABLE>
<S>      <C>
By:      /s/ GINA A. VAN DER WERF
         ----------------------------------------------------
         Gina A. van der Werf
         ATTORNEY IN FACT
</TABLE>

CIGNALGLOBAL COMMUNICATIONS, INC.

<TABLE>
<S>      <C>
By:      /s/ CHRIS ROONEY
         ----------------------------------------------------
         Chris Rooney
         CHIEF EXECUTIVE OFFICER
</TABLE>

                                       2<PAGE>
                                                                   EXHIBIT 10.31
                                                                  CONFORMED COPY

                                SECOND AMENDMENT
                                     TO THE
                           FIRST AMENDED AND RESTATED
                          AGREEMENT AND PLAN OF MERGER
                             DATED AUGUST 11, 2000
                                     AMONG
                     UNITED PAN-EUROPE COMMUNICATIONS N.V.,
                             PRIORITY TELECOM N.V.,
                     PRIORITY ACQUISITION SUBSIDIARY, INC.
                                      AND
                       CIGNAL GLOBAL COMMUNICATIONS, INC.
                             DATED OCTOBER 26, 2000

                                 ALLEN & OVERY
                                    NEW YORK
<PAGE>
SECOND AMENDMENT TO THE FIRST AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER
dated as of October 26, 2000 by and among United Pan-Europe Communications N.V.,
a public company incorporated with limited liability under the laws of The
Netherlands ("UPC"), Priority Telecom N.V. a private company incorporated with
limited liability under the laws of The Netherlands ("PRIORITY"), Priority
Acquisition Subsidiary, Inc., a Delaware corporation and a wholly owned direct
subsidiary of Priority ("MERGER SUB"), and Cignal Global Communications, Inc., a
Delaware corporation ("CIGNAL").

                                  WITNESSETH:

    WHEREAS, an Agreement and Plan of Merger, dated as of May 19, 2000 (the
"ORIGINAL AGREEMENT"), among UPC, Priority, Merger Sub, and Cignal was duly
executed by the parties thereto, which provides for, among other things, the
merger of Merger Sub into Cignal;

    WHEREAS, a First Amended and Restated Agreement and Plan of Merger, dated as
of August 11, 2000 (the "MERGER AGREEMENT"), among UPC, Priority, Merger Sub and
Cignal was duly executed by the parties thereto to amend and restate the
Original Agreement in its entirety;

    WHEREAS, a First Amendment to the First Amended and Restated Agreement and
Plan of Merger (the "FIRST AMENDMENT"), dated as of August 29, 2000, was duly
executed by the parties to amend Article 7.1 of the Merger Agreement.

    WHEREAS, the parties hereby desire to further amend Article 7.1 of the
Merger Agreement as provided for below and the substance of such amendment has
been approved by the consent of each of the parties to the Merger Agreement as
of the date hereof;

    WHEREAS, all things necessary have been done to make this Amendment to the
Merger Agreement valid according to its terms and the terms of the Merger
Agreement;

              NOW THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:

    Section 1.1 Amendment of Article 7.1 Article 7.1 of the Merger Agreement, as
amended by the First Amendment, is hereby further amended by the deletion from
subsection (b) of the date "October 31, 2000" and its replacement by the date
"November 4, 2000".

                                       1
<PAGE>
    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to the
Merger Agreement to be duly executed, as of October 26, 2000.

UNITED PAN-EUROPE COMMUNICATIONS, N.V.,

<TABLE>
<S>      <C>
By:                              /s/ JOHN RIORDAN
               ----------------------------------------------------
                                   John Riordan
                                     PRESIDENT

By:                            /s/ ANTON M. TUIJTEN
               ----------------------------------------------------
                                   Anton Tuijten
                       SENIOR VICE PRESIDENT/GENERAL COUNSEL
</TABLE>

PRIORITY TELECOM N.V.

<TABLE>
<S>      <C>
By:                          /s/ GINA A. VAN DER WERF
               ----------------------------------------------------
                               Gina A. van der Werf
                                 ATTORNEY IN FACT

By:                              /s/ JEREMY EVANS
               ----------------------------------------------------
                                   Jeremy Evans
                                  GENERAL COUNSEL
</TABLE>

PRIORITY ACQUISITION SUBSIDIARY, INC.

<TABLE>
<S>      <C>
By:                          /s/ GINA A. VAN DER WERF
               ----------------------------------------------------
                               Gina A. van der Werf
                                 ATTORNEY IN FACT
</TABLE>

CIGNALGLOBAL COMMUNICATIONS, INC.

<TABLE>
<S>      <C>
By:                              /s/ CHRIS ROONEY
               ----------------------------------------------------
                                   Chris Rooney
                              CHIEF EXECUTIVE OFFICER
</TABLE>

                                       2<PAGE>
                                                                   EXHIBIT 10.32

                                                                  CONFORMED COPY

                             SHAREHOLDERS AGREEMENT
                                    BETWEEN
                          EACH OF THE SHAREHOLDERS IN
                             PRIORITY TELECOM N.V.
                                      AND
                     UNITED PAN-EUROPE COMMUNICATIONS N.V.
                                      AND
                             PRIORITY TELECOM N.V.

                                 ALLEN & OVERY
                                    NEW YORK
<PAGE>
                                     INDEX

<TABLE>
<CAPTION>
CLAUSE                                                                                  PAGE
------                                                                                --------
<C>                     <S>                                                           <C>
          1.            Article 1: Definitions......................................      2
          2.            Article 2: Conditions.......................................      4
          3.            Article 3: Representations and Warranties...................      4
          4.            Article 4: Supervisory Board and Management Board...........      7
          5.            Article 5: Conduct of Business by the Company...............      8
          6.            Article 6: The IPO..........................................     12
          7.            Article 7: Stock Purchase Option............................     13
          8.            Article 8: Sale of the Company..............................     16
          9.            Article 9: Transfer of Company Shares.......................     17
         10.            Article 10: Valuation of Acquisitions.......................     18
         11.            Article 11: Fees and expenses...............................     19
         12.            Article 12: Notices.........................................     19
         13.            Article 13: Power of Attorney...............................     20
         14.            Article 14: Amendments......................................     20
         15.            Article 15: Saving clause...................................     20
         16.            Article 16: Assignment......................................     21
         17.            Article 17: Annulment, Rescission and Dissolution...........     21
         18.            Article 18: Governing Law and Arbitration...................     21
         19.            Article 19: Counterparts....................................     21
         20.            Article 20: Termination.....................................     21
         21.            Article 21: Succession......................................     21
         22.            Article 22: Beneficiary.....................................     21
</TABLE>

                                       1
<PAGE>
                             SHAREHOLDERS AGREEMENT

    This Shareholders Agreement is made as of this       day of             ,
2000 by and between (1) the shareholder (the "SHAREHOLDER") of Priority Telecom
N.V. named on the signature page of this Agreement, (2) United Pan-Europe
Communications N.V. ("UPC"), and (3) Priority Telecom N.V. (the "COMPANY").

WHEREAS

(A) UPC, the Company, Priority Acquisition Subsidiary Inc. ("MERGER SUB") and
    Cignal Global Communications, Inc ("CIGNAL") have entered into that certain
    First Amended and Restated Agreement and Plan of Merger (the "MERGER
    AGREEMENT") dated August 11, 2000. The Merger Agreement inter alia
    contemplates that, subject to the conditions precedent as stated therein, on
    the Effective Date, Merger Sub will merge with and into Cignal, and in
    consideration therefore the Company will issue a certain number of new
    shares in the Company (the "COMPANY SHARES") to the Shareholder, and to the
    Escrow Agent (as defined below) for the contingent benefit of the
    Shareholder, upon surrender by the Shareholder to the Company of title of
    ownership and all certificates representing his entire shareholding in
    Cignal (the "CIGNAL SHARES"). Such transaction will hereinafter be referred
    to as the "SHARES EXCHANGE."

(B) On the assumption that and subject to the condition that the Shares Exchange
    will take place on the Closing Date, the Shareholder and the Company
    herewith agree that the following terms and conditions will apply to the
    Shareholder in his/her capacity of holder of the Company Shares and to the
    holding by him/her of the Company Shares.

IT IS AGREED AS FOLLOWS:

1.  ARTICLE 1: DEFINITIONS

1.1 In this Agreement, capitalised terms not defined herein will unless the
    context otherwise requires have the meanings ascribed thereto in the Merger
    Agreement.

1.2 In this Agreement, the following terms will have the following meanings
    unless the context otherwise requires:

    "AGGREGATE COMPANY SHARES" means the aggregate number of Company Shares
    issued by the Company to all former Cignal shareholders, and to the Escrow
    Agent for the contingent benefit of all such Shareholders, pursuant to the
    Shares Exchange. The term Aggregate Company Shares as used in this Agreement
    shall further include all such shares in the Company (i) that are
    hereinafter issued by the Company to such former Cignal shareholder
    (including without limitation as a result of the exercise of any options or
    warrants), and/or (ii) that are acquired by such shareholder from any other
    shareholder.

    "AGREEMENT" means this Agreement as the same may be amended between the
    parties thereto from time to time, including all Appendices and Schedules
    attached thereto. Such Appendices and Schedules form an integral part of
    this Agreement.

    "ARTICLES" means the Articles of Association ("STATUTEN") of the Company as
    the same may be amended from time to time.

    "CIGNAL SHARES" means the shares held by the Shareholder in Cignal that are
    the subject of the Shares Exchange.

    "COMPANY SHARES" means the shares which will be issued by the Company to the
    Shareholder, and to the Escrow Agent for the contingent benefit of the
    Shareholder, pursuant to the Shares Exchange. The term Company Shares as
    used in this Agreement shall further include all such

                                       2
<PAGE>
    shares in the Company (i) that are hereinafter issued by the Company to the
    Shareholder (including without limitation as a result of the exercise of any
    options or warrants), and/or (ii) that are acquired by the Shareholder from
    any other Shareholder.

    "ESCROW AGENT" means the Escrow Agent under the Escrow Agreement.

    "ESCROW AGREEMENT" means the agreement among the Company, MeesPierson Trust
    B.V., as Escrow Agent, and the Shareholder, dated the date hereof.

    "GENERAL MEETING" means a general meeting of shareholders, being either an
    extraordinary general meeting of shareholders or the annual general meeting
    of shareholders, of the Company.

    "GROUP" means at any time collectively a company and its ultimate parent
    company and all the subsidiaries and group companies of the latter as
    defined in Articles 2:24a and 2:24b of the Netherlands Civil Code.

    "GROUP COMPANY" means a company or other legal entity which forms part of a
    Group.

    "IPO" means the listing of new shares in the Company and/or any existing
    shares in the Company on the Stock Exchange and/or the New York Stock
    Exchange, Nasdaq National Market System, London Stock Exchange or on any
    other similar major stock exchange selected for that purpose by the Company
    in consultation with UPC, which listing results in an active public trading
    market for the class of shares so listed on such stock exchange.

    "MANAGEMENT BOARD" means the board of managing directors ("BESTUUR") of the
    Company

    "MANAGING DIRECTORS" means the members of the Management Board from time to
    time.

    "MERGER AGREEMENT" means the agreement as described in Recital A to this
    Agreement, as the same may be amended between the parties thereto from time
    to time, together with all Appendices and Annexes which are attached
    thereto.

    "REGISTRATION RIGHTS AGREEMENTS" means each of (i) the registration rights
    agreement dated as of February 8, 1999 among Cignal, Friedli Corporate
    Finance and each Investor named therein, and (ii) the registration rights
    agreement dated as of October 29, 1997 among Cignal, Spencer Trask
    Securities, Incorporated, ST Partners L.P. and each of the persons listed on
    the signature pages thereto under the heading the "Allen Group" and each of
    the other Investors named therein.

    "SECURITIES ACT" means the U.S. Securities Act of 1933, as amended.

    "SHAREHOLDER" and "SHAREHOLDERS" means a signatory or signatories to this
    Agreement who hold shares in the Company, excluding UPC and the Company.

    The "SHAREHOLDERS REPRESENTATIVE" means Chris Rooney or his replacement
    appointed as contemplated by Article 4.5.

    "SHAREHOLDERS' VOTE" means a vote at a General Meeting in favour of a matter
    put before the shareholders of the Company meeting all corporate law
    requirements under the laws of the Netherlands, including quorum, notice and
    percentage vote.

    "SPONSOR" means the lead manager and/or arranger, appointed by the Company
    (and/or by UPC) to lead manage and/or arrange the IPO. If there are more
    than one lead manager and/or arranger, the term Sponsor as used in this
    Agreement refers to the lead managers and/or arrangers jointly.

    "STOCK EXCHANGE" means the Amsterdam Stock Exchange or any successor stock
    exchange with or into which the Amsterdam Stock Exchange may hereafter be
    merged.

    "SUPERVISORY BOARD" means the supervisory board ("RAAD VAN COMMISSARISSEN")
    of the Company.

    "SUPERVISORY DIRECTORS" means the members of the Supervisory Board from time
    to time.

                                       3
<PAGE>
    "UPC SHARE PRICE" shall be the average per share price of the UPC Shares for
    the five consecutive business days prior to the Option Trigger Date.

1.3 In this Agreement, unless otherwise specified:

    (a) references to Articles, Paragraphs, Schedules and Appendices are to
       articles and, paragraphs in, and schedules and appendices to this
       Agreement;

    (b) a reference to any statute or statutory provision shall be construed as
       a reference to the same as it may have been, or may from time to time be,
       amended, modified or re-enacted except to the extent that any amendment
       or modification made after the date of this Agreement would increase or
       alter the liability of the Parties under this Agreement;

    (c) references to a "person" shall be construed so as to include any
       individual, firm, company, government, state or agency of a state or any
       joint venture, association or partnership (whether or not having separate
       legal personality);

    (d) references to writing shall include any modes of reproducing words in a
       legible and non-transitory form;

    (e) references to times of the day are to Amsterdam time;

    (f) headings to Articles, Schedules and Appendices are for convenience only
       and do not affect the interpretation of this Agreement;

    (g) the Schedules and Appendices form part of this Agreement and shall have
       the same force and effect as if expressly set out in the body of this
       Agreement, and any reference to this Agreement shall include the
       Schedules and Appendices; and

    (h) references to words importing the singular will include the plural and
       vice versa and references to words importing one gender will include both
       genders.

2.  ARTICLE 2: CONDITIONS

    The rights and obligations of each of the parties hereto is subject to the
condition precedent ("OPSCHORTENDE VOORWAARDE") that the Shares Exchange takes
place.

3.  ARTICLE 3: REPRESENTATIONS AND WARRANTIES

3.1 The Company makes the following representations and warranties to the
    Shareholder in relation to itself as of the date hereof:

    (a) It is duly incorporated and validly existing under the laws of the
       Netherlands.

    (b) It has the power to enter into this Agreement and to exercise its rights
       and to fulfil its obligations hereunder. All necessary or appropriate
       corporate, governmental or statutory approvals have been obtained and any
       other action required to authorise the execution of this Agreement by it
       and the fulfilment by it of its obligations hereunder has been duly
       taken.

    (c) This Agreement constitutes its legal, valid and binding obligations,
       enforceable in accordance with its terms.

    (d) The execution of this Agreement and the exercising of its rights and the
       fulfilment of its obligations hereunder do not conflict with the laws of
       the Netherlands, do not constitute a violation of any terms of its
       articles of association (or other comparable constitutional documents)
       and do not constitute and will not result in a breach of any agreement,
       law, regulation, government policy, license, approval, judgment or order
       of any court or any other instrument having legal effect to which it is a
       party.

                                       4
<PAGE>
    (e) No license, approval, consent, filing, registration or any other act or
       deed is required to be obtained or made in the Netherlands by it in
       connection with the execution of this Agreement and the exercise of its
       rights and the fulfilment of its obligations under this Agreement.

3.2 UPC makes the following representations and warranties to the Shareholder in
    relation to itself as of the date hereof:

    (a) It is duly incorporated and validly existing under the laws of the
       Netherlands.

    (b) It has the power to enter into this Agreement and to exercise its rights
       and to fulfil its obligations hereunder. All necessary or appropriate
       corporate, governmental or statutory approvals have been obtained and any
       other action required to authorise the execution of this Agreement by it
       and the fulfilment by it of its obligations hereunder has been duly
       taken.

    (c) This Agreement constitutes its legal, valid and binding obligations,
       enforceable in accordance with its terms.

    (d) The execution of this Agreement and the exercising of its rights and the
       fulfilment of its obligations hereunder do not conflict with the laws of
       the Netherlands, do not constitute a violation of any terms of its
       articles of association (or other comparable constitutional documents)
       and do not constitute and will not result in a breach of any agreement,
       law, regulation, government policy, license, approval, judgment or order
       of any court or any other instrument having legal effect to which it is a
       party.

    (e) No license, approval, consent, filing, registration or any other act or
       deed is required to be obtained or made in the Netherlands by it in
       connection with the execution of this Agreement and the exercise of its
       rights and the fulfilment of its obligations under this Agreement.

3.3 The Shareholder hereby makes the following representations, warranties and
    covenants to each of the Company and to UPC with regard to itself as of the
    date hereof:

    (a) The Shareholder has the power to enter into this Agreement and to
       exercise his/her rights hereunder and to fulfil his/her obligations
       hereunder.

    (b) This Agreement constitutes the legal, valid and binding obligations of
       the Shareholder, enforceable in accordance with its terms.

    (c) The execution of this Agreement by the Shareholder and the exercise of
       his/her rights hereunder and the fulfilment of his/her obligations
       hereunder do not conflict with the laws of the Netherlands or of the
       United States of America or of any State thereof and do not constitute
       and will not result in a breach of any agreement, law, regulation,
       government policy, license, approval, judgment or order of any court or
       any other instrument having legal effect to which he/she is a party.

    (d) If the Shareholder is a legal entity rather than an individual: the
       execution of this Agreement by the Shareholder and the exercise of its
       rights hereunder and the fulfilment of its obligations hereunder do not
       conflict with its Articles of Incorporation or by-laws, and have been
       duly authorised by all corporate and other action by or in respect of the
       Shareholder.

    (e) The Shareholder has full title of ownership to the Cignal Shares, the
       Cignal Shares are free of any encumbrances, liens, pledges or other
       security rights, and there are no third parties who have a right to
       purchase the Cignal Shares or any other contractual rights in relation to
       the Cignal Shares.

    (f) The Shareholder understands that the Company Shares have not been
       registered under the Securities Act. The Shareholder also understands
       that the Company Shares are being offered and sold pursuant to an
       exemption from registration contained in the Securities Act based in

                                       5
<PAGE>
       part upon the Shareholder's representations contained in this Agreement.
       The Shareholder hereby represents and warrants, for purposes of
       compliance on the part of the Company with the Securities Act, that:

       (1) he/she has experience in evaluating and investing in private
           placement transactions of securities in companies similar to the
           Company so that it is capable of evaluating the merits and risks of
           its investment in the Company and has the capacity to protect its own
           interests.

       (2) he/she must bear the economic risk of this investment indefinitely
           unless the Company Shares are registered pursuant to the Securities
           Act, or an exemption from registration is available.

       (3) he/she understands that there is no assurance that any exemption from
           registration under the Securities Act will be available and that,
           even if available, such exemption may not allow the Shareholder to
           transfer all or any portion of the Company Shares under the
           circumstances, in the amounts or at the times the Shareholder might
           propose.

       (4) he/she is acquiring the Company Shares for his/her own account for
           investment only, and not with a view towards their distribution.

       (5) by reason of his/her, or of its management's, business or financial
           experience, he/she has the capacity to protect his/her own interests
           in connection with the acquisition of the Company Shares.

       (6) he/she is an accredited investor within the meaning of Regulation D
           under the Securities Act, which definition is attached hereto as
           Exhibit L.

       (7) the Company Shares have not been registered with or approved by the
           Securities and Exchange Commission (the "SEC") or any securities
           regulatory authority of any state or other jurisdiction, nor has the
           SEC or any such authority passed upon the adequacy or accuracy of the
           Information Statement.

       (8) he/she has read and received the Information Statement (as defined in
           the Merger Agreement) and has had an opportunity to discuss the
           Company's business, management and financial affairs with directors,
           officers and management of the Company. The Shareholder understands
           and acknowledges that neither audited historical financial
           information with respect to all of the entities and businesses that
           have been or will be acquired by the Company as described in the
           Information Statement nor audited or unaudited pro forma financial
           information for the Company that gives effect to the acquisition by
           the Company of such entities and businesses are available and,
           accordingly, it would be impracticable to include such information in
           the Information Statement at this time. The Shareholder acknowledges
           and agrees that, notwithstanding that the foregoing information is
           not provided in the Information Statement, the Information Statement
           contains such other information as the Shareholder deems necessary or
           appropriate to review in order to make his/her investment decision.
           The Shareholder has also had the opportunity to ask questions of and
           receive answers from, the Company and its management regarding the
           terms and conditions of the Merger and the Company.

       (9) he/she acknowledges and agrees that the Company Shares must be held
           indefinitely unless they are subsequently registered under the
           Securities Act, an exemption from such registration is available, or
           their resale is otherwise permitted under applicable securities laws.

       (10) he/she has been advised of and is aware of the provisions of
           Rule 144 promulgated under the Securities Act as in effect from time
           to time, which permits limited resale of shares

                                       6
<PAGE>
           purchased in a private placement subject to the satisfaction of
           certain conditions, including, among other things: the availability
           of certain current public information about the Company, the resale
           occurring following the required holding period under Rule 144 and
           the number of shares being sold during any three-month period not
           exceeding specified limitations.

       (11) he/she acknowledges that the Company Shares may be legended as
           appropriate to comply with applicable securities laws.

    (j) No license, approval, consent, filing, registration or any other act or
       deed is required to be obtained or made in the United States of America
       or in the Netherlands by the Shareholder in connection with the execution
       of this Agreement and the exercise of his/her rights and the fulfilment
       of his/her obligations under this Agreement.

    (k) The Shareholder shall pay any transfer, stamp or similar tax imposed on
       such Shareholder in connection with this Agreement, the Merger Agreement
       and the transactions contemplated hereby and thereby, including the
       Shares Exchange.

    (l) The Shareholder has not relied on any oral statements or representations
       from any person in connection with this Agreement.

    (m) The Shareholder acknowledges that upon the Effective Date, such
       Shareholder will cease to be an owner of Cignal Shares and will instead
       become an owner of Company Shares and, accordingly, all rights,
       obligations, entitlements and claims relating to such Shareholder's share
       ownership will thereafter arise solely from ownership of Company Shares,
       and such rights shall be as provided in or pursuant to the Company's
       articles of association, this Agreement, the Merger Agreement, the
       Shareholders Agreement, the Escrow Agreement and the laws of The
       Netherlands. Upon the Effective Date, the Shareholder hereby waives any
       and all rights, entitlements and obligations with respect to, and any and
       all claims relating to, the Cignal Shares owned by such Shareholder,
       whether contained in or pursuant to Cignal's articles of incorporation or
       by-laws or in any written or oral agreement or understanding, other than
       the right to receive Company Shares pursuant to the Merger Agreement. The
       Shareholder agrees that any and all of the aforementioned rights,
       entitlements, obligations or claims with respect to their ownership of
       Cignal Shares will terminate on the Effective Date in all such cases,
       except with respect to and to the extent of any claim that has been
       asserted by the Shareholder in any legal proceedings against Cignal which
       may exist at the date hereof, in which case such Shareholder agrees not
       to initiate any new or additional proceedings, or otherwise attempt to
       extend or expand the scope of the pending proceedings, with respect to
       the alleged right or entitlement that is the subject of such claim.

4.  ARTICLE 4: SUPERVISORY BOARD AND MANAGEMENT BOARD

4.1 The Supervisory Board will consist of 6 (six) Supervisory Directors, who
    will be appointed by a shareholders' vote at the General Meeting. As
    provided in the Articles, the Supervisory Directors will be appointed by a
    shareholders' vote taken at a General Meeting from a binding nomination of
    UPC as long as UPC holds the special rights share ("PRIORITEITSAANDEEL").
    UPC hereby agrees to nominate and vote in favour of the candidate nominated
    by the Shareholders Representative (the "SHAREHOLDERS REPRESENTATIVE
    NOMINEE") as Supervisory Director. The other five Supervisory Directors
    shall be nominated and appointed at the discretion of UPC and the General
    Meeting. Without prejudice to article 4.2 hereof, UPC shall exercise its
    nomination and voting rights in such a manner that the Shareholders
    Representative Nominee shall remain a Supervisory Director until the later
    of December 31, 2001 and the date 6 (six) months after the consummation of
    the IPO (for purposes of this Agreement, the consummation of the IPO will be
    deemed to occur on the date upon which public trading in shares in the
    Company will commence on the relevant stock

                                       7
<PAGE>
    exchange). Effective as of such date, the Shareholders will cooperate with
    the removal of the Shareholders Representative Nominee as a Supervisory
    Director. The foregoing is without prejudice to the right of a shareholders'
    vote taken at a General Meeting to dismiss the Shareholders Representative
    Nominee effective as of such date.

4.2 If in a shareholders' vote taken at a General Meeting the Shareholders
    Representative Nominee is deemed to no longer function in the manner he
    should reasonably be expected to function as a Supervisory Director of a
    Dutch company such as the Company, the shareholders of the Company may
    dismiss the Shareholders Representative Nominee as a Supervisory Director.
    In such case, the Shareholders Representative may designate another
    Shareholders Representative Nominee as a replacement Supervisory Director.
    Such replacement will be effected as soon as practicable after such
    designation is made. The provisions of this article 4 will MUTATIS MUTANDIS
    also apply with respect to any such replacement Supervisory Director.

4.3 The Management Board will consist of such number of Managing Directors as
    the shareholders of the Company may from time to time determine. As provided
    in the Articles, the Managing Directors will be appointed by a shareholders'
    vote taken at a General Meeting from a binding nomination of UPC as long as
    UPC holds the special rights share ("PRIORITEITSAANDEEL"). UPC hereby agrees
    to nominate and vote in favour of the election of the Shareholders
    Representative as Managing Director. Without prejudice to article 4.4
    hereof, UPC shall exercise its nomination and voting rights in such a manner
    that the Shareholders Representative shall remain a Managing Director until
    the later of December 31, 2001 and the date 6 (six) months after the
    consummation of the IPO. Effective as of such date, the shareholders will
    cooperate in the removal of the Shareholders Representative as a Managing
    Director. The foregoing is without prejudice to the right of a shareholders'
    vote taken at a General Meeting to dismiss the Shareholders Representative
    effective as of such date.

4.4 If in a shareholders' vote taken at a General Meeting the Shareholders
    Representative is deemed to no longer function in the manner he should
    reasonably be expected to function as a Managing Director of a Dutch company
    such as the Company, the shareholders of the Company may dismiss the
    Shareholders Representative as a Managing Director. In such case, UPC agrees
    to nominate and vote in favour of the election of such other candidate as
    the Shareholders may designate for that purpose. Such replacement will be
    effected as soon as practicable after such designation is made. If such
    replacement is made, such replacement Managing Director will not affect
    Christopher Rooney's or such other person's status as the Shareholders
    Representative. The provisions of this article 4 will MUTATIS MUTANDIS also
    apply with respect to any such replacement Managing Director.

4.5 The initial Shareholders Representative is Christopher J. Rooney. The
    Shareholders may appoint a replacement Shareholders Representative at any
    time by a majority vote.

5.  ARTICLE 5: CONDUCT OF BUSINESS BY THE COMPANY

5.1 Until the earlier of the IPO or the Option Expiration Date (as defined in
    Section 7.1), the Company and UPC agree to the following:

    The Company's activities will include, but not be limited to, providing
    telecommunications services (listed in Exhibit A hereto) to business
    customers in Europe (defined in Exhibit B hereto), both inside and outside
    the UPC Affiliate Area. Expansion by the Company outside of Europe,
    excluding the activities included in the Cignal's current business plan as
    presented to the Board of Directors of Cignal, will be at the discretion of
    the Company but will require UPC consent, for which a consideration may be
    agreed upon at the time of such expansion; provided, however, that the
    Company shall not in any event be required to conduct any activity if
    (A) such activity would result in a breach or violation of any agreement or
    contract among UPC, UGC or the Company,

                                       8
<PAGE>
    respectively, and any third parties, (B) such activity would result in a
    breach of any law, regulation, government policy, license, governmental or
    regulatory approval, judgement or order of any court, or (C) such activity
    would constitute a taxable transaction, for which no tax ruling or
    exemption, satisfactory to UPC, is available; provided further, however,
    that UPC and the Company shall use their reasonable efforts to resolve any
    impediment created under (A), (B) or (C), so long as such efforts do not
    require the expenditure of cash to third parties, are in accordance with
    prudent business practices and are not impracticable.

5.2 Until the earlier of the IPO of the Company or the Option Expiration Date,
    the Company and UPC agree to the following:

    (i) to set up local Company entities identified in Exhibit C and to
    contribute the existing relevant business customers and associated revenues;
    and (ii) to the extent legally possible, to grant for value to the Company
    from its current operations exclusive rights of use on commercial
    arms-length terms, on an un-encumbered basis (to the explicit exclusion of
    Mundi Telecom), required to support the Company's subscriber base at the
    Closing Date; provided, however, that UPC shall not in any event be required
    to take any of the actions in (i) or (ii) above if (A) such action would
    result in a breach or violation of any indenture or financing arrangement,
    among UPC, UGC or the Company, respectively, and any third parties,
    (B) such activity would result in a breach or violation of any agreement or
    contract among UPC, UGC or the Company, respectively, and any third parties,
    (C) such action would require consent or approval from any municipality,
    workers council, trade union or shareholder, and such consent or approval is
    withheld, (D) such activity would result in a breach of any law, regulation,
    government policy, license, governmental or regulatory approval, judgement
    or order of any court, or (E) such activity would constitute a taxable
    transaction, for which no tax ruling or exemption, satisfactory to UPC, is
    available; provided further, however, that UPC and the Company shall use
    their reasonable efforts to resolve any impediment created under (A),
    (B) or (C), so long as such efforts do not require the expenditure of cash
    to third parties, are in accordance with prudent business practices and are
    not impracticable.

5.3 Until the earlier of the IPO of the Company or such time when UPC and the
    Company have entered into a separate agreement with regard to their
    affiliate relationship, such agreement to be on terms no less favorable than
    those provided below, UPC and the Company agree to the following:

    The Company will have the exclusive right (subject to any restriction
    imposed by applicable laws, including without limitation any law regulating
    competition) to the use of the existing UPC fiber footprint for a term of
    seven years for the purpose of the Company's activities. The Company will be
    UPC's primary vehicle to provide national and international, retail and
    wholesale, CLEC products and services to business customers throughout
    Europe for a period of not less than seven years. The Company will have the
    sales and marketing functions to serve business customers, with the
    exception of the legacy chello broadband N.V. ("CHELLO") customers.
    Notwithstanding the foregoing, UPC shall not in any event be required to
    take any of the actions in this clause 5.3 if such action would result in a
    breach of any law, regulation, government policy, license, governmental or
    regulatory approval, judgement or order of any court; provided further,
    however, that UPC and the Company shall use their reasonable efforts to
    resolve any impediment created under (A), (B) or (C), so long as such
    efforts do not require the expenditure of cash to third parties, are in
    accordance with prudent business practices and are not impracticable.

5.4 Until the earlier of the IPO of the Company or such time when UPC and the
    Company have entered into a separate agreement with regard to their
    affiliate relationship, such agreement to be

                                       9
<PAGE>
    on terms no less favorable than those provided below, UPC and the Company
    agree to the following:

    For any acquisitions completed by UPC which extend its existing fiber
    footprint and in which it has at least a majority ownership interest, UPC
    will, to the extent legally possible or allowed for pursuant to the
    transaction documents underlying any such acquisition, grant for value to
    the Company the rights of use of relevant assets and infrastructure (in the
    form of either IRU contracts, leasing agreements, distribution contracts
    and/or other legal contracts and arrangements) on a preferred basis (as
    described in Exhibit D) without any obligation on the part of the Company to
    contribute to the associated UPC acquisition costs; provided, however, that
    UPC shall not in any event be required to make any of the above grants if
    (A) such grant would result in a breach or violation of any agreement or
    contract among UPC, UGC or the Company, respectively, and any third parties,
    (B) such grant would result in a breach of any law, regulation, government
    policy, license, governmental or regulatory approval, judgement or order of
    any court, or (C) such grant would constitute a taxable transaction, for
    which no tax ruling or exemption, satisfactory to UPC, is available;
    provided further, however, that UPC and the Company shall use their
    reasonable efforts to resolve any impediment created under (A), (B) or (C),
    so long as such efforts do not require the expenditure of cash to third
    parties, are in accordance with prudent business practices and are not
    impracticable.

5.5 Until the earlier of the IPO of the Company or such time when UPC and the
    Company have entered into a separate agreement with regard to their
    affiliate relationship, such agreement to be on terms no less favorable than
    those provided below, UPC and the Company agree to the following:

    For any acquisitions completed by UPC in which all or a material portion of
    the acquired operations directly relate to the Company's activities and will
    result in a majority ownership by UPC of that acquired business, UPC will,
    to the extent legally possible or allowed for pursuant to the transaction
    documents underlying any such acquisition, offer to transfer, for value, the
    relevant operations or a material portion thereof; provided, however, that
    UPC shall not in any event be required to make any of the above transfers if
    (A) such transfer would result in a breach or violation of any agreement or
    contract among UPC, UGC or the Company, respectively, and any third parties,
    (B) such transfer would result in a breach of any law, regulation,
    government policy, license, governmental or regulatory approval, judgement
    or order of any court, or (C) such transfer would constitute a taxable
    transaction, for which no tax ruling or exemption, satisfactory to UPC, is
    available; provided further, however, that UPC and the Company shall use
    their reasonable efforts to resolve any impediment created under (A),
    (B) or (C), so long as such efforts do not require the expenditure of cash
    to third parties, are in accordance with prudent business practices and are
    not impracticable.

5.6 Until the earlier of the IPO of the Company and the Option Expiration Date,
    UPC will use reasonable efforts to integrate any acquired business customer
    which falls within the Company's activities; provided, however, that UPC
    shall not in any event be required to take any of the above actions if
    (A) such actions would result in a breach or violation of any agreement or
    contract among UPC, UGC or the Company, respectively, and any third parties,
    (B) such actions would result in a breach of any law, regulation, government
    policy, license, governmental or regulatory approval, judgement or order of
    any court, or (C) such actions would constitute a taxable transaction, for
    which no tax ruling or exemption, satisfactory to UPC, is available;
    provided further, however, that UPC and the Company shall use their
    reasonable efforts to resolve any impediment created under (A), (B) or (C),
    so long as such efforts do not require the expenditure of cash to third
    parties, are in accordance with prudent business practices and are not
    impracticable.

                                       10
<PAGE>
5.7 Until the earlier of the IPO of the Company or the Option Expiration Date,
    UPC and the Company agree that irrespective of the price paid by UPC in the
    acquisitions described in Article 5.5 above, valuation of such acquisitions
    will need to be agreed upon by UPC, the Company and the Shareholders
    Representative, or otherwise through the independent appraisal process
    described in Article 10.1 of this Agreement.

5.8 Until the earlier of the IPO of the Company and the Option Expiration Date,
    the Company and UPC agree to the following:

    For any acquisition consummated by the Company directly, any such
    acquisition may be funded through the incurrence of debt or the issue of
    stock. The Company will fund its operations in the first instance with debt
    (including vendor financing) to the extent reasonably practicable; provided,
    however, that the Company will not be obligated to incur any indebtedness if
    such incurrence would, in the opinion of the Management Board of the
    Company, unduly prejudice its operating and financial flexibility. The
    availability and cost of such debt, as well as the Company's debt capacity,
    will be determined by the Management Board of the Company in consultation
    with internationally recognised banks and/or investment banks based on the
    Company's business plan and the Company's then current financial position;
    provided, however, that the Company shall not in any event be required to
    incur such debt if such incurrence would result in a breach or violation of
    any agreement or contract among UPC, UGC or the Company, respectively, and
    any third parties. If the Company requires additional funding beyond its
    determined debt capacity, then such funding shall come from UPC or other
    parties in the form of equity at the time such funding is provided.

5.9 Until the earlier of the IPO of the Company and the Option Expiration Date,
    the Company and UPC agree that any shareholder loans, including accrued
    interest, provided by UPC and/or its affiliates to the Company after the
    date hereof will be repaid by the Company either (a) from available cash or
    (b) from proceeds of the Company IPO (if consummated), subject to
    acceptability of such use of proceeds by the IPO underwriters; provided,
    however, that the Company shall not in any event be required to take any of
    the above actions if such actions would result in a breach or violation of
    any agreement or contract among UPC, UGC or the Company, respectively, and
    any third parties.

5.10 Until the earlier of the IPO of the Company and the Option Expiration Date,
    the Company and UPC agree to that if for any reason such shareholder loans
    may not be repaid at the time of the IPO, they will immediately convert to
    equity in the Company at a price equal to the high end of the initial filing
    range utilised to market the IPO (the "IPO Filing Price"); provided,
    however, that UPC and the Company shall not in any event be required to take
    any of the above actions if such actions would result in a breach or
    violation of any agreement or contract among UPC, UGC or the Company,
    respectively, and any third parties.

5.11 The Shareholder agrees that any lawsuit against UPC, the Company or any
    affiliates of UPC or the Company under this Article 5 can only be brought if
    it is supported in writing by Shareholders owning directly or indirectly the
    majority of the aggregate equity interest in the Company owned by all
    Shareholders.

5.12 Notwithstanding the foregoing, the Company shall retain the right to
    dispose of any assets or operations, without compensation to the Company
    therefor, at any time, that are unrelated to the Company's activities,
    including, but not limited to, the disposition of the businesses of Cesky
    Mobil AS and Priority Wireless Communication Gmbh.

5.13 Notwithstanding the foregoing, UPC retains the right to allow third parties
    to participate in the Company's or its subsidiaries' activities, as
    shareholders or otherwise, to the extent that UPC is required, as of the
    date hereof, to do so pursuant to any agreement or contract among UPC or

                                       11
<PAGE>
    any affiliate of UPC, or UGC or any affiliate of UGC, respectively, and any
    such third parties. In addition, until the earlier of the IPO of the Company
    and the Option Expiration Date, with the consent of the Shareholders
    Representative, UPC may allow third parties to participate in the Company's
    or its subsidiaries' activities, as shareholders or otherwise.

5.14 For the purpose of this Article 5:

    (i) "assets" means physical assets, IRU contracts, leasing agreements,
        distribution contracts and/or other legal contracts and arrangements.

    (ii) "business subscribers" means for profit and non-profit entities with
         more than five employees.

   (iii) "CLEC" means competitive local exchange carrier.

    (iv) "fiber footprint" means UPC's national and metropolitan fiber networks,
         excluding HFC networks.

    (v) "IRU" means indefeasible rights of use.

    (vi) "legacy chello" means customers of chello broadband N.V. as of the
         Closing Date in the Merger Agreement.

   (vii) "Mundi Telecom" means a voice and data reseller operating in the
         Spanish market since 1997.

  (viii) "UPC Affiliate Area" means the current and future fiber footprint.

6.  ARTICLE 6: THE IPO

6.1 It is the intention of UPC and the Company that the IPO is consummated on or
    prior to October 1, 2001, and that UPC and the Company will use their
    reasonable endeavours to effect the IPO. The Shareholders shall have no
    remedy or claim against UPC or the Company (or against any of UPC's or the
    Company's supervisory directors, managing directors, officers, employees or
    agents) of any kind whatsoever if such IPO is not effected on or prior to
    October 1, 2001 other than the exercise of their UPC Stock Purchase Option
    as set out in Article 7 below (and except for remedies which may be
    available to the Shareholders in the case of a willful breach of contract
    under this Agreement or in case of gross negligence or willful misconduct).
    The Shareholder hereby irrevocably and unconditionally waives any such right
    or claim against UPC or the Company (or UPC's or the Company's supervisory
    directors, managing directors, officers, employees or agents) for UPC's or
    the Company's failure to consummate the IPO, except as set forth above.

6.2 If and when an IPO is effected and it is determined by UPC and the Company
    together with the Sponsor that existing shares in the Company will be
    offered for sale as part of such IPO:

    (a) the Shareholder shall have the right to offer, on the same terms as
       those agreed pursuant to a shareholders' vote at a General Meeting, all
       the Company Shares or, in case the IPO only concerns a portion of the
       then existing ordinary shares in the Company, excluding the Escrow Shares
       (as defined in the Escrow Agreement), the Shareholder shall be entitled
       to include in the IPO such portion of the Company Shares pro rata with
       the portion of existing ordinary shares in the Company which is offered
       for sale through the IPO, subject always to the provisions of
       Article 6.3; and

    (b) the Shareholder shall do all things required or appropriate to effect
       the IPO in accordance with the relevant resolutions made at the General
       Meeting and in accordance with the rules of the Stock Exchange and/or
       other stock exchange at which the ordinary shares in the Company will be
       listed.

                                       12
<PAGE>
6.3 If in the judgement of the Sponsor, in consultation with the management
    board of the Company, the total number of shares of the Company proposed to
    be offered in the IPO exceeds that which could be sold in then current
    market conditions without an adverse effect on the pricing of such shares,
    then the Sponsor shall limit the total number of existing shares to be
    included in the IPO. All reductions of existing shares to be offered in the
    IPO shall be made on a pro rata basis among all selling shareholders.

6.4 If the IPO is effected, the Shareholder shall not sell any Company Shares
    which remain owned by him/her for the longer of (i) six months after the
    consummation of the IPO, without the consent of the Company which shall not
    be unreasonably withheld or (ii) for such period as may be required by the
    relevant stock exchange.

6.5 The net proceeds of the IPO for shares sold by the Company may be used by
    the Company to (a) fund the Business Plan (as the same may hereafter be
    amended from time to time) and/or (b) repay shareholder loans then
    outstanding (provided that such use of proceeds is acceptable to the Sponsor
    of such use of proceeds) or (c) to the extent such proceeds are not used in
    accordance with (a) or (b) and to the extent required by indentures entered
    into by UPC or affiliates of UPC, grant inter-company loans to UPC or such
    affiliate.

6.6 In the event of an IPO of the same class of securities as the Company
    Shares, the Company will list such securities on the relevant stock
    exchange. In the event the Company decides to list only a separate class of
    ordinary shares in the Company other than the Company Shares, the
    Shareholder shall have the right to convert his Company Shares into the
    listed class of ordinary shares at any time, so that he or she may trade the
    shares at the relevant stock exchange.

7.  ARTICLE 7: STOCK PURCHASE OPTION

7.1 UPC hereby grants and issues to the Shareholder and the Escrow Agent (to the
    extent it holds Company Shares for the contingent benefit of the
    Shareholder) an option (the "UPC STOCK PURCHASE OPTION") to purchase UPC
    ordinary shares ("UPC SHARES") upon the terms and conditions set forth in
    this Article 7. The Shareholder shall receive his or her pro rata share of
    the total number of UPC shares to be delivered to all Shareholders pursuant
    to Article 7.2. If the IPO is not consummated on or prior to October 1,
    2001, (the "OPTION TRIGGER DATE"), the Shareholders Representative shall be
    entitled to exercise and exchange, the UPC Stock Purchase Option in whole,
    but not in part, on behalf of all the Shareholders and the Escrow Agent, for
    such number of UPC Shares as is determined pursuant to Article 7.2, by
    delivering to UPC an exercise notice (the "EXERCISE NOTICE"), substantially
    in the form of Exhibit E hereto, together with all Aggregate Company Shares
    and all of the options, unit options and warrants relating to the Aggregate
    Company Shares then owned by such Shareholders or any owner who would be
    obligated to become a Shareholder upon exercise of their warrant, unit
    option or options (which shares and rights shall constitute the exchange
    exercise price). The Exercise Notice must be received by UPC on October 30,
    2001 (the "OPTION EXPIRATION DATE") at 17:00 hrs EST. UPC may elect to treat
    its acquisition of Aggregate Company Shares and options, unit options and
    warrants relating to Aggregate Company Shares pursuant to this Article 7 as
    arising from a contribution to UPC's equity in exchange for UPC shares, or
    UPC's purchase of Aggregate Company Shares, as the case may be.
    Notwithstanding anything to the contrary in this Article 7, UPC shall have
    the option to permit the UPC Stock Purchase Option to be exercised in part,
    subject to applicable law, with such partial exercise being entirely in the
    discretion of UPC after consultation with the Shareholders Representative
    with respect to which Shareholders and what portion of Aggregate Company
    Shares will be exercised.

7.2 The total number of UPC Shares to be delivered by UPC to all Shareholders
    pursuant to Article 7.1 shall be determined by (x) dividing the Company
    Share Value (as defined below) by the

                                       13
<PAGE>
    UPC Share Price and (y) multiplying such result by the number of Aggregate
    Company Shares on a fully converted basis assuming conversion of the
    options, warrants and unit options relating to the Aggregate Company Shares.
    "COMPANY SHARE VALUE" shall be an amount equal to:

    (a) the higher of (i) the fair market value of the Aggregate Company Shares
       on a fully converted basis assuming conversion of the options, warrants
       and unit options, relating to the Aggregate Company Shares owned or held
       by the Shareholders, the Escrow Agent, option holders, warrant holders or
       unit option holders, as the case may be, as at the Option Expiration Date
       determined in accordance with the provisions of Article 7.3, and
       (ii) US$200,000,000 plus the aggregate strike prices that would be
       payable on all of the options, unit options and warrants relating to
       Aggregate Company Shares and participating in the exercise of the UPC
       Stock Purchase Option,

    (b) divided by the total number of Aggregate Company Shares on a fully
       converted basis assuming conversion of the options, warrants and unit
       options relating to the Aggregate Company Shares.

    Notwithstanding the foregoing, however, the number of UPC Shares to be
    delivered by UPC pursuant to Article 7.1 to holders of options, warrants and
    unit options shall be reduced by any strike price that would have been paid
    by such holder upon exercise of its options, warrants or unit options, as
    applicable for Aggregate Company Shares.

    The UPC Shares to be delivered to the Shareholders pursuant to Section 7.1
    shall, to the extent other UPC Shares are listed on the primary stock
    exchange, be listed on such primary stock exchange, and shall have no
    greater restrictions on transfer than any other UPC Shares so listed.

7.3 Notwithstanding anything to the contrary in this Article 7, if the
    Shareholders Representative exercises the UPC Stock Purchase Option, UPC
    shall have (a) the option to redeem the UPC Stock Purchase Option for such
    amount of cash equal to the Company Share Value times the number of
    Aggregate Company Shares, and (b) the option, which UPC may assign to any
    subsidiary or affiliate of UPC or to any third party (provided that,
    notwithstanding any such assignments, UPC shall remain obligated under this
    Article 7) (the "COMPANY STOCK PURCHASE OPTION"), to purchase all or any
    portion of the Aggregate Company Shares and all or any portion of the
    options, unit options and warrants relating to Aggregate Company Shares for
    such amount of (i) cash, or (ii) if agreed by the Shareholders
    Representative acting on behalf of the Shareholders participating in the UPC
    Stock Purchase Option, marketable securities, equal to the Company Share
    Value times the number of Aggregate Company Shares. UPC's right to redeem
    any UPC Stock Purchase Option under this Article 7.3 will be exercisable by
    UPC by the delivery of a redemption notice substantially in the form of
    Exhibit F hereto to the Shareholders Representative on behalf of the
    Shareholders concerned. In connection with the completion of any such
    redemption or partial exercise, the UPC Stock Purchase Option shall be
    redeemed and all Aggregate Company Shares and all of the options, unit
    options and warrants relating to Aggregate Company Shares owned by the
    Shareholders concerned will be surrendered. UPC and the Shareholders
    concerned will implement the provisions of the redemption notice delivered
    pursuant to this Article 7.3 in accordance with its terms.

7.4 The fair market value of the Aggregate Company Shares owned by the
    Shareholders will be determined in accordance with the following provisions:

    (a) UPC and the Shareholders Representative shall first as soon as
       practicable after the Option Expiration Date consult with each other to
       arrive at a fair market value of the Aggregate Company Shares held by the
       Shareholders.

    (b) If UPC and the Shareholders Representative shall not agree on the fair
       market value on or prior to the date 30 days after the Option Expiration
       Date, then each of UPC and the

                                       14
<PAGE>
       Shareholders Representative shall appoint an independent appraiser to
       perform the valuation. Such appointment shall be made on or prior to the
       date 30 days after the Option Expiration Date. If either party fails to
       timely appoint such independent appraiser, the other party may make such
       appointment on behalf of the failing party. The independent appraisers
       will be instructed to provide their appraisals on or prior to the date
       60 days after the Option Expiration Date.

    (c) If the valuations made in these two appraisals are within 10% of each
       other, the fair market value shall be deemed to be the average of the two
       valuations. If the valuations are more than 10% apart, a third
       independent appraiser will be appointed by mutual agreement between UPC
       and the Shareholders Representative. If no such mutual agreement is
       reached prior to the date 65 days after the Option Expiration Date, the
       third independent appraiser shall be appointed by the two independent
       appraisers acting jointly.

    (d) The third independent appraiser shall be instructed to provide its
       appraisal on or prior to the date 90 days after the Option Expiration
       Date. The third independent appraiser shall be given the earlier two
       valuations and any underlying data used or developed by the two
       independent appraisers which the third independent appraiser may
       reasonably require. The fair market value shall be deemed to be the
       average of the third valuation and the closest of the earlier two
       valuations.

    (e) The fair market value arrived at pursuant to this Article 7 shall be
       final and binding on all parties.

    (f) Only internationally recognised investment banks may be appointed as
       independent appraisers.

    (g) The Company and UPC will, subject to the condition that appropriate
       confidentiality agreements have been concluded between the Company, UPC
       and such independent appraiser, provide to each independent appraiser
       such information in relation to the Company and its business as such
       independent appraiser may reasonably require to complete its appraisal.
       Information provided by any party to the independent appraisers shall be
       provided in such manner as will reasonably ensure that each of the
       independent appraisers makes its valuation on the basis of the same
       information.

    (h) The fact that the Aggregate Company Shares owned by the Shareholders
       represent a minority interest in the Company shall not affect the
       valuation given to such shares under this Article 7.

7.5 On the date not later than 3 days after the date upon which the Company
    Share Value has been finally determined in accordance with the provisions of
    Article 7.3 (the "VALUE DETERMINATION DATE"), the Company will notify the
    Shareholders in writing of the Company Share Value so determined.

7.6 The date upon which the Shareholder shall exchange the Company Shares owned
    by the Shareholder (the "STOCK OPTIONS COMPLETION DATE") for the UPC Shares
    will be a date, determined by UPC, being a date not less than 30 days and
    not more than 60 days after the Value Determination Date.

7.7 UPC will notify the Shareholders Representative and, if applicable, the
    Escrow Agent of the Stock Options Completion Date. On the Stock Options
    Completion Date, the Shareholders and the Escrow Agent shall exchange the
    UPC Stock Purchase Option and transfer all of the Aggregate Company Shares
    owned by them and all of the options, unit options and warrants relating to
    Aggregate Company Shares owned by them or any other warrant holder or option
    holder participating in the UPC Stock Purchase Option to UPC or its designee
    for such number of UPC Shares, as determined in accordance with Article 7.2
    or such amount of cash or marketable

                                       15
<PAGE>
    securities as determined in accordance with Article 7.3, as the case may be.
    In case the Company Stock Purchase Option is settled in whole or in part in
    cash, such amount of cash will be paid into a separate bank account (and/or,
    in case the UPC Stock Purchase Option or the Company Stock Purchase Option
    is settled in whole or in part in securities, a separate securities account)
    designated for that purpose by the Shareholders Representative.

7.8 If not all Shareholders and the Escrow Agent appropriately deliver their
    Aggregate Company Shares pursuant to the UPC Stock Purchase Option following
    exercise thereof in accordance with Section 7.1, then UPC may (but will not
    be obliged to) redeem any such undelivered Aggregate Company Shares and the
    related Aggregate Company Shares, options, unit options or warrants, on the
    Stock Options Completion Date (or any date not more than 30 days thereafter
    to be determined by UPC in its discretion), for the consideration paid to
    the other Shareholders under Sections 7.2 and 7.3. UPC's right to redeem any
    UPC Stock Purchase Option under this Article 7.8 will be exercisable by UPC
    by the delivery of a redemption notice substantially in the form of
    Exhibit G hereto to the Shareholders Representative on behalf of the
    Shareholders and the Escrow Agent concerned. In connection with the
    completion of any such redemption, the UPC Stock Purchase Option shall be
    redeemed and all the shares in the Company and all of the options and
    warrant rights relating to shares in the Company owned by the Shareholders
    and the Escrow Agent concerned will be surrendered. UPC and the Shareholders
    and the Escrow Agent concerned will implement the provisions of the
    redemption notice delivered pursuant to this Article 7.8 in accordance with
    its terms.

7.9 The Shareholder, the Escrow Agent, UPC and/or the Company shall perform all
    such acts as may be reasonably requested in order to give effect to the
    provisions of this Article 7.

8.  ARTICLE 8: SALE OF THE COMPANY

8.1 If UPC sells and transfers any shares in the Company to any third party on
    or prior to October 1, 2001, the Shareholder shall have the right to
    simultaneously sell and transfer to such third party the same percentage of
    his Company Shares for a consideration which is equal to the per share
    consideration which UPC will receive for its shares in the Company and the
    same percentage of his option rights and warrants relating to shares in the
    Company for the same per option right or per warrant consideration minus the
    applicable strike price, and on the same terms and conditions and with the
    same representations and warranties and covenants (MUTATIS MUTANDIS) which
    UPC will in its discretion agree upon with such third party. If UPC intends
    to so sell and transfer its shares as contemplated in this Article 8.1, it
    shall issue a sale notice (the "NOTICE OF SALE") substantially in the form
    of Exhibit H hereto to the Shareholders. If the Shareholder wishes to
    exercise its rights under this Article 8.1, it shall within 15 days of the
    date of its receipt of a Notice of Sale issue an exercise notice (a "SALE
    EXERCISE NOTICE") substantially in the form of Exhibit I hereto. Any Sale
    Exercise Notice shall be irrevocable. If a Sale Exercise Notice is not
    timely issued, it shall be deemed for all purposes not to have been issued.

8.2 If UPC sells and transfers at least 50% of its shares in the Company to any
    third party who is not affiliated with UPC on or prior to October 1, 2001,
    UPC may require all of the Shareholders and the Escrow Agent who have not
    issued a Sale Exercise Notice, to simultaneously sell and transfer to UPC
    (or, at the option of UPC, to such third party) the same percentage of their
    Company Shares for a per share consideration which is equal to the greater
    of (i) the Company Share Value or (ii) the per share consideration received
    by UPC in such transaction, and the same percentage of their option rights
    and warrants relating to shares in the Company for a per option right or per
    warrant consideration which is equal to the Company Share Value or
    transaction value, as the case may be, minus the applicable strike price. In
    such case, the valuation provisions of Article 7 shall apply MUTATIS
    MUTANDIS, and UPC and the Company will ensure that such consideration is
    determined prior to the date upon which the Company Shares, option rights
    and warrants are

                                       16
<PAGE>
    transferred to UPC (or such third party). The date of the receipt of the
    Notice of Sale for the purpose of applying MUTATIS MUTANDIS the valuation
    provisions of Article 7.5 shall be deemed to be the Option Trigger Date.

8.3 After October 1, 2001, if an IPO has not occurred and the Shareholders
    Representative has not exercised the UPC Stock Purchase Option pursuant to
    the provisions of Article 7 or if any Shareholder or the Escrow Agent has
    retained (all or some of) the Company Shares, if UPC sells and transfers its
    shares in the Company to any third party who is not affiliated with UPC, UPC
    may require the Shareholder and the Escrow Agent to simultaneously sell and
    transfer to UPC (or, at the option of UPC, to such third party) all of their
    shares in the Company for a per share consideration which is equal to the
    per share consideration which UPC will receive for its shares in the
    Company, and all option rights and warrants relating to shares in the
    Company for the same per option right or per warrant consideration minus the
    applicable strike price, and on the same terms and conditions and with the
    same representations and warranties and covenants (MUTATIS MUTANDIS) which
    UPC will in its discretion agree upon with such third party.

8.4 The Shareholder, the Escrow Agent, UPC and/or the Company shall perform all
    such acts as may be reasonably requested in order to give effect to the
    provisions of this Article 8.

9.  ARTICLE 9: TRANSFER OF COMPANY SHARES

9.1 A transfer of any Company Shares by the Shareholder or the Escrow Agent
    shall be made only in accordance with the relevant provisions of the
    Articles and applicable law. A Shareholder or the Escrow Agent wishing to
    transfer any of the Company Shares needs to fill out and sign the share
    certificate and send the share certificate to the Company. The Company will
    then instruct a Dutch civil law notary to effect the transfer by a Dutch
    notarial deed. Upon completion of the transfer the Company will provide the
    relevant Shareholders or the Escrow Agent with new share certificates.

9.2 The Company Shares shall be characterised as "RESTRICTED SECURITIES" for
    purposes of Rule 144 under the Securities Act. As set out in Article 3.2
    (g), the Company Shares are being issued to the Shareholder and the Escrow
    Agent in reliance on an exemption from registration under the Securities
    Act. All certificates representing the Company Shares shall have endorsed
    thereon a legend in substantially the following form:

       "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
       UNDER THE SECURITIES ACT OF 1933 (THE "ACT") AND MAY NOT BE OFFERED, SOLD
       OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS
       REGISTERED UNDER THE ACT OR UNLESS AN EXEMPTION FROM THE REGISTRATION
       REQUIREMENTS OF THE ACT IS AVAILABLE. THE COMPANY OF THESE SECURITIES
       REQUIRES AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY
       SATISFACTORY TO THE COMPANY TO THE EFFECT THAT ANY PROPOSED TRANSFER OR
       RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES
       LAWS. IN ADDITION, NO HEDGING TRANSACTION MAY BE CONDUCTED WITH RESPECT
       TO THESE SECURITIES UNLESS SUCH TRANSACTION IS IN COMPLIANCE WITH THE
       ACT. IN ADDITION, THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT
       TO TRANSFER RESTRICTIONS AS SET OUT IN THE SHAREHOLDERS AGREEMENT DATED
       [      ], 2000.

       "THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A SHAREHOLDER
       AGREEMENT DATED AS OF [      ], 2000 AND THE TRANSFER AND VOTING THEREOF
       ARE SUBJECT TO THE TERMS OF SUCH AGREEMENT.

                                       17
<PAGE>
       COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT THE PRINCIPAL EXECUTIVE
       OFFICES OF THE COMPANY."

9.3 Any transfer of ordinary Shares by any Shareholder or the Escrow Agent to a
    third party in accordance with the provisions of this Article and
    article 10 of the Articles, shall be subject to the condition that the third
    party transferee, as of the date of transfer, becomes a party to this
    Agreement and is legally bound by the terms thereof, by entering into a deed
    of accession in the form attached hereto as Exhibit J. No Party shall effect
    any such transfer unless the condition described above is fulfilled. The
    term "third party" means any third party (including, without limitation, any
    other Shareholder).

9.4 In the event that any of the options or warrants held by the Shareholders
    are not exercised for any reason, the Company Shares reserved for issuance
    to such Shareholders shall be released to the Shareholders Representative
    who shall be obligated to distribute such Company Shares to the Shareholders
    based on their proportionate ownership as of the Effective Time as set forth
    on Exhibit K.

10. ARTICLE 10: VALUATION OF ACQUISITIONS

10.1 For the purposes of Article 5.8, valuation of future acquisitions will be
    determined in accordance with the following provisions:

    (a) UPC, the Company and the Shareholders Representative shall first consult
       with each other to arrive at a fair market value of the acquisition.

    (b) If UPC and the Shareholders Representative shall not agree on the
       valuation, then each of UPC and the Shareholders Representative shall
       appoint an independent appraiser to perform the valuation. If either
       party fails to timely appoint such independent appraiser, the other party
       may make such appointment on behalf of the failing party.

    (c) If the valuations made in these two appraisals are within 10% of each
       other, the valuation shall be deemed to be the average of the two
       valuations. If the valuations are more than 10% apart, a third
       independent appraiser will be appointed by mutual agreement between UPC
       and the Shareholders Representative. If no such mutual agreement is
       reached, the third independent appraiser shall be appointed by the two
       independent appraisers acting jointly.

    (d) The third independent appraiser shall be given the earlier two
       valuations and any underlying data used or developed by the two
       independent appraisers which the third independent appraiser may
       reasonably require. If the third valuation is not more than 10% higher or
       lower than either of the earlier two appraisals, the fair market value
       shall be deemed to be the average of the third valuation and the closest
       of the earlier two valuations. If the third valuation is more than 10%
       higher or lower than either of the earlier two appraisals, the fair
       market value shall be deemed to be equal to the amount of the third
       valuation.

    (e) The valuation arrived at pursuant to this Article 10 shall be final and
       binding on all parties.

    (f) Only internationally recognised investment banks may be appointed as
       independent appraisers.

    (g) The Company and UPC will, subject to the condition that appropriate
       confidentiality agreements have been concluded between the Company, UPC
       and such independent appraiser, provide to each independent appraiser
       such information in relation to the Company and its business as such
       independent appraiser may reasonably require. Information provided by any
       party to the independent appraisers shall be provided in such manner as
       will reasonably ensure that each of the independent appraisers makes its
       valuation on the basis of the same information.

                                       18
<PAGE>
    (h) The independent appraisers shall be instructed to consider the assets to
       be transferred by UPC in the context of the value that they provide to
       the Company relative to its then existing scope of operations and its
       then current business plan.

11. ARTICLE 11: FEES AND EXPENSES

    The Shareholder shall pay his/her own costs and expenses, including fees of
legal, tax and other advisers, (other than the fees and expenses of Cignal
counsel) in relation to the preparation, execution and implementation of this
Agreement.

12. ARTICLE 12: NOTICES

12.1 Any notice or other communications required or permitted under this
    Agreement, shall be given in writing and personally delivered or sent by
    airmail, postage prepaid, or by international air courier, or by telefax
    addressed as follows or to such other address as the party concerned shall
    have given notice of pursuant to this Article 12:

    If to UPC, to:

    United Pan-Europe Communications N.V.
    P.O. Box 74763
    1070 BT
    Amsterdam
    The Netherlands

    For the attention of:

    Anton Tuijten

    If to the Company:

    Priority Telecom N.V.
    Kon. Wilhelminaplein 2-4
    Berghaus Plaza
    1062 HIC Amsterdam
    The Netherlands

    For the attention of:

    Jim Ryan

    If to the Shareholders Representative:

    Christopher J. Rooney
    c/o Priority Telecom N.V.
    Kon. Wilhelminaplein 2-4
    Berghaus Plaza
    1062 HIC Amsterdam
    The Netherlands

    If to the Shareholder, to:

    The address of the Seller as recorded at the relevant time in the share
    register of the Company

                                       19
<PAGE>
12.2 Any notice or other document shall be deemed to have been served:

    (a) if delivered by hand, then at the time of delivery, if delivered between
       the hours of 9.30 a.m. and 5.30 p.m. (local time at the place of receipt)
       if sent on a Business Day; or if not, then at 9.30 a.m. (local time) on
       the next following Business Day;

    (b) if posted, then at 10.00 a.m. (local time) on the day four (4) Business
       Days after it was put in the post; or

    (c) if sent by air courier, then at 10.00 a.m. (local time) on the day two
       (2) Business Days after it was sent; or

    (d) if sent by telefax, then at the time sent, if sent between the hours of
       9.30 a.m. and 5.30 p.m. (local time at the place of receipt) if sent on a
       Business Day; or, if not, then at 9.30 a.m. (local time) on the next
       following Business Day.

    For the purposes of this Article 12, a Business Day shall be deemed a day on
which banks' branches situated in Amsterdam and New York are open to their
clients for general business purposes.

13. ARTICLE 13: POWER OF ATTORNEY

13.1 The Shareholder herewith gives unconditional (save as expressly provided in
    this Article 13) and irrevocable power of attorney to the Shareholders
    Representative and to any replacement of the Shareholders Representative as
    contemplated in Article 4.5, on behalf of the Shareholder:

    (a) to take such action which this Agreement contemplates may be taken by
       the Shareholders Representative on behalf of the Shareholders;

    (b) to take such action as may reasonably be deemed necessary or appropriate
       by the Shareholders Representative to implement the provisions of this
       Agreement and of the Merger Agreement in accordance with its terms; and

    (c) to take all further action as are ancillary to the actions mentioned in
       (a) above;

13.2 The Shareholder agrees that he/she will be bound by any action taken by the
    Shareholders Representative in accordance with the provisions of
    Article 13.1 above, and that he/she will if requested by the Shareholders
    Representative, UPC and/or the Company confirm in writing to be so bound and
    to ratify the action so taken.

13.3 If for any reason the Shareholders Representative will not take any action
    which this Agreement contemplates he will take on behalf of the Shareholder,
    then UPC or the Company, as the case may be, may request that the
    Shareholder him/herself to take such action.

14. ARTICLE 14: AMENDMENTS

    This Agreement may not be amended, supplemented or changed except by a
written instrument making specific reference to this Agreement signed by the
parties hereto. Any amendments which are not materially adverse to the position
of the Shareholder as holder of the Company Shares may be negotiated and agreed
on behalf of the Shareholder by the Shareholders Representative.

15. ARTICLE 15: SAVING CLAUSE

    If any provision of this Agreement shall be held by any court of competent
jurisdiction or arbitral tribunal to be illegal, void or unenforceable, such
provision shall (i) be of no force and effect, but the illegality or
unenforceability of such provision shall have no effect upon and shall not
impair the enforceability of any other provision of this Agreement and (ii) the
parties shall commit themselves to replace the non-binding and/or
non-enforceable provisions by provisions that are binding and

                                       20
<PAGE>
enforceable and differ as little as possible, taking into account the object and
purpose of this Agreement, from the non-binding and/or non-enforceable
provisions. The Shareholder will in this instance be represented by the
Shareholders Representative, whose agreement on the replacement of such
provisions shall be binding on the Shareholder.

16. ARTICLE 16: ASSIGNMENT

    None of the rights or obligations under this Agreement may be assigned or
transferred by the Shareholder without the prior written consent of UPC and the
Company. None of the rights or obligations under this Agreement may be assigned
or transferred other than pursuant to Article 21 herein by the Company or UPC
without the prior written consent of the Shareholders Representative.

17. ARTICLE 17: ANNULMENT, RESCISSION AND DISSOLUTION

    The parties to this Agreement waive their rights, if any, to annul, (partly)
rescind, (partly) dissolve ("ONTBINDEN") or cancel this Agreement, or to request
annulment, (partly) rescission, (partly) dissolution ("ONTBINDEN") or
cancellation of this Agreement after the Closing Date on the basis of articles
6:265 or 6:228 of the Dutch Civil Code.

18. ARTICLE 18: GOVERNING LAW AND ARBITRATION

18.1 This Agreement shall be governed by and construed in accordance with the
    laws of the Netherlands.

18.2 It is agreed that any power of attorney executed in connection with this
    Agreement or any other document executed pursuant to the transactions
    contemplated hereby shall be governed by and construed in accordance with
    the laws of the Netherlands.

18.3 All disputes arising out of or in connection with this Agreement which
    cannot be amicably settled between the parties hereto shall be submitted to
    the exclusive jurisdiction of the competent courts in Amsterdam, The
    Netherlands.

19. ARTICLE 19: COUNTERPARTS

    This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which taken together shall constitute
one and the same instrument.

20. ARTICLE 20: TERMINATION

    This Agreement shall terminate upon the IPO, except for Articles 4, 5.11, 6,
8, 9 and 11 through 21 that pursuant to their terms survive the IPO or require
performance after the IPO. This Agreement shall terminate in its entirety
vis-a-vis a Shareholder upon the sale of all Company Shares owned by the
Shareholder. This Agreement shall terminate automatically in the event the
Merger Agreement is terminated.

21. ARTICLE 21: SUCCESSION

    The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties and their respective successors and assigns.

22. ARTICLE 22: BENEFICIARY

    Articles 7, 8 and 9 hereof shall be construed as clauses irrevocably
granting to the Escrow Agent as third party beneficiary the right to claim
performance thereof (ONHERROEPELIJK DERDENBEDING).

                                       21
<PAGE>
    IN WITNESS WHEREOF, this Agreement is signed by UPC and the Company on
August 11, 2000 and by the Shareholder on the day and date hereinbelow specified
by the Shareholder.

UNITED PAN-EUROPE COMMUNICATIONS N.V.

By:      /s/ JEREMY EVANS
-------------------------------------------

By:      /s/ EUGENE MUSSELMAN
-------------------------------------------

PRIORITY TELECOM N.V.

By:  /s/ JIM RYAN
-------------------------------------------

By:  /s/ EUGENE MUSSELMAN
-------------------------------------------

SHAREHOLDER

By:  SEE ATTACHED LIST
-------------------------------------------

Date:

THE SHAREHOLDER IS REQUIRED TO FILL IN THE DATA BELOW:

    The Shareholder executing this Agreement is:

Name:

Address:

Number of Cignal Shares owned by him/her:

Number of Company Shares to be issued to him/her on the Closing Date:

    By signing this Agreement, the Shareholder agrees that the above data will
be entered into the share register of the Company upon completion of the Shares
Exchange.

                                       22
<PAGE>
                                                                       EXHIBIT A

                          TELECOMMUNICATIONS SERVICES

    For purposes of Section 5.1, CLEC services-traditional voice and data
services, as well as any services based on IP technology, include, but are not
limited to, the following:

1.  Traditional Services

    (i) Line Rental

    (ii) Local, national and international calls

   (iii) HFC telephone

    (iv) Centrex central PBX services

    (v) ATM connectivity

    (vi) Voice over ATM

   (vii) Local, national and international private leased lines

  (viii) SDH based data services

    (ix) InterLAN

    (x) ISDN 10/20/30

    (xi) The resale of mobile telephony as part of bundled fixed/mobile offers

   (xii) Local, national and International IRUs and rights of way

2.  Access-dependent IP-services:

    (i) Internet access and transit

    (ii) Secure Internet access/managed firewall

   (iii) Private IP and VPN LAN Interconnection

    (iv) VPN management

    (v) Videoconferencing

    (vi) Broadband teleworking and remote access

   (vii) IP-based voice (retail telephony)

3.  Access-Independent services:

    (i) Server and web site Hosting

    (ii) E-mail hosting

   (iii) Intranet hosting

    (iv) Application hosting

    (v) Dial-up Internet access

    (vi) Dial-up remote teleworking

                                       23
<PAGE>
   (vii) Unified Messaging

  (viii) IP telephony (retail and wholesale)

    (ix) Content delivery (including: hosting, caching, IP connectivity, and
         peering/transit)

    (x) Facilities management and collocation

    (xi) Server, router, and PABX resale and/or management

   (xii) Applications Service Provider (ASP) services (outsourced software,
         applications, storage

  (xiii) Web/professional services

       (a) Site design

       (b) E-mail hosting

       (c) IP address and domain name registration

       (d) General LAN/WAN/Web consultancy

   (xiv) E-commerce services

                                       24
<PAGE>
                                                                       EXHIBIT B

                               EUROPEAN COUNTRIES

    For purposes of Section 5.1, the following countries constitute Europe:

    Albania

    Andorra

    Austria

    Belarus

    Belgium

    Bosnia

    Bulgaria

    Croatia

    Czech Republic

    Denmark

    Estonia

    Finland

    France

    Germany

    Greece

    Hungary

    Ireland (including Northern Ireland)

    Israel

    Italy Switzerland

    Latvia

    Lithuania

    Luxembourg

    Malta

    Moldova

    Monaco

    Netherlands

    Norway

    Poland

    Portugal

    Romania

    Russia

    Slovak Republic

    Spain

    Sweden

    Turkey

    Ukraine

    United Kingdom

    Vatican City

    Yugoslavia

                                       25
<PAGE>
                                                                       EXHIBIT C

                             LOCAL COMPANY ENTITIES

1.  Priority Austria GmbH

2.  Priority France S.A.S.

3.  Priority Italy S.r.L.

4.  Priority Sweden A.B.

5.  Priority Norway A.S.

6.  Priority Hungary Kft

7.  Priority Belgium S.A.

8.  Priority Telecom Netherlands B.V. (license holder)

9.  Priority Germany GmbH

                                       26
<PAGE>
                                                                       EXHIBIT D

           RELATIONSHIP WITH UPC AND ITS AFFILIATES, INCLUDING CHELLO

1.  UPC and its affiliates, including chello, will be preferred suppliers to the
    Company.

2.  The Company will be the preferred supplier of products and services for UPC
    and its affiliates, including chello.

3.  All such relationships will be on a contractual, arms-length basis.

    (a) All goods and services will be provided through contracts with a service
       level agreement.

4.  The purchase and supply of goods and services will be at the lowest of:

    (a) Competitive market prices; or

    (b) Lowest rates to similar third parties.

5.  The Company retains the right to purchase goods and services in the open
    market, should the goods and services of UPC and its affiliates, including
    chello, not meet agreed service levels or not be priced competitively
    relative to comparable goods and services available in the open market;
    provided however, that in the UPC Affiliate Areas, for a period of seven
    years, if the services are available and the agreed service level agreement
    is met, chello will be the sole provider to the Company of the Company
    branded IP connectivity services (including access and portal) for business
    customers with 50 or fewer employees.

6.  Within the UPC Affiliate Area, chello will act as a wholesale provider of
    certain services to either the UPC cable company (residential and SOHO(1)
    market) or the Company (business customers). Notwithstanding the foregoing,
    legacy customers of chello will continue to remain with chello.

                                       27
<PAGE>
                                                                       EXHIBIT E

              FORM OF EXERCISE NOTICE OF UPC STOCK PURCHASE OPTION

[DATE]

United Pan-Europe Communications
P.O. Box 74763
1070 BT Amsterdam
The Netherlands

Dear Sirs:

    In accordance with Article 7.1 of the Shareholders Agreement, dated
            , 2000, between the Shareholders in Priority Telecom N.V. named
therein, United Pan-Europe Communications N.V. and Priority Telecom N.V. (the
"SHAREHOLDERS AGREEMENT"), the undersigned, as Shareholders Representative under
the Shareholder Agreement and on behalf of all of the Shareholders (as defined
in the Shareholders Agreement), hereby gives notice of the exercise of the UPC
Stock Purchase Option (as defined in the Shareholders Agreement). Attached
herewith are all of the shares in the Company and all of the options, unit
options and warrant rights relating to shares in the Company owned by all of the
Shareholders, or any owner who would be obligated to become a Shareholder upon
exercise of their warrants, unit options or options.

Cordially,

------------------------

Name:

                                       28
<PAGE>
                                                                       EXHIBIT F

                  FORM OF REDEMPTION NOTICE UNDER ARTICLE 7.3

[DATE]

Shareholders Representative

[Address]

Dear Sirs:

    In accordance with Article 7.3 of the Shareholders Agreement, dated       ,
2000, between the Shareholders in Priority Telecom N.V. named therein, United
Pan-Europe Communications N.V. and Priority Telecom N.V. (the "SHAREHOLDERS
AGREEMENT"), you are hereby notified that:

/ /  we are exercising our option to redeem the UPC Stock Purchase Option (as
defined in the Shareholders Agreement) for such amount of cash equal to the
Company Share Value (as defined in the Shareholders Agreement). The Company
Share Value equals $  per UPC Stock Purchase Option.

/ /  we are exercising our option to purchase   shares in Priority Telecom N.V.
(the "COMPANY") and   options, unit options and warrants relating to the shares
in the Company for [such amount of cash or marketable securities equal to the
Company Share Value]. [Insert description of consideration to be received.]

Cordially,

------------------------

United Pan-Europe Communications N.V.

                                       29
<PAGE>
                                                                       EXHIBIT G

                  FORM OF REDEMPTION NOTICE UNDER ARTICLE 7.8

[DATE]

Shareholders Representative

[Address]

Dear Sirs:

    In accordance with Article 7.8 of the Shareholders Agreement, dated
            , 2000, between the Shareholders in Priority Telecom N.V. named
therein, United Pan-Europe Communications N.V. and Priority Telecom N.V. (the
"SHAREHOLDERS AGREEMENT"), we hereby notify you that we have chosen to redeem
      shares of Priority Telecom N.V. undelivered pursuant to the UPC Stock
Purchase Option, as defined in the Shareholders Agreement, for the consideration
of             .

Cordially,

------------------------

United Pan-Europe Communications N.V.

                                       30
<PAGE>
                                                                       EXHIBIT H

                             FORM OF NOTICE OF SALE

[DATE]

[Name of Shareholder]

[Address]

Dear Sirs:

    In accordance with Article 8.1 of the Shareholders Agreement dated
            , 2000 (the "SHAREHOLDERS AGREEMENT") between the Shareholders in
Priority Telecom N.V. named therein, United Pan-Europe Communications N.V. and
Priority Telecom N.V. (the "COMPANY"), we hereby notify you of our intention to
sell and transfer       , or   % of our Company Shares (as defined in the
Shareholders Agreement) to       . You have the right to simultaneously sell the
same percentage of your Company Shares for a consideration equal to the per
share consideration which we will receive, which is             per Company
Share. You also have the right to simultaneously sell the same percentage of
your options, unit options and warrants relating to the Company Shares for the
same per option right or per warrant consideration minus the applicable strike
price.

Cordially,

------------------------

United Pan-European Communications

                                       31
<PAGE>
                                                                       EXHIBIT I

                          FORM OF SALE EXERCISE NOTICE

[DATE]

United Pan-Europe Communications
P.O. Box 74763
1070 BT Amsterdam
The Netherlands

Dear Sirs:

    In accordance with Article 8.1 of the Shareholders Agreement dated       ,
2000 between the Shareholders in Priority Telecom N.V. named therein (the
"COMPANY"), United Pan-Europe Communications N.V. and Priority Telecom N.V. (the
"SHAREHOLDERS AGREEMENT") the undersigned owner hereby irrevocably notifies you
of [his/her] wish to exercise our rights to sell   Company Shares (as defined in
the Shareholders Agreement) to       on the same terms and conditions, and for
the same per share consideration which UPC will receive for its Company Shares.
Attached hereto are the certificates representing   Company Shares.

    [The undersigned owner hereby irrevocably notifies you of the exercise of
his/her right to sell   [options/warrants] relating to the Company Shares for
the same per option right or per warrant consideration minus the applicable
strike price.]

Cordially,

------------------------

Name:

                                       32
<PAGE>
                                                                       EXHIBIT J

                           FORM OF DEED OF ACCESSION

The undersigned,

name:

address:

    hereby declares to have purchased             ordinary shares in the Dutch
company Priority Telecom N.V. ("Priority") from                         (insert
name of transferor) (the "Selling Shareholder");

    hereby declares to United Pan-Europe Communications N.V. ("UPC") and
Priority that he/she assumes all terms of the "Shareholders Agreement" by, among
others, UPC and Priority as his or her own and that he/she is bound thereto as
if he/she had originally been party thereto as a Shareholder.

    This deed shall be governed by Dutch law. The undersigned agrees that all
disputes arising in connection with this deed shall to the exclusive
jurisdiction of the competent court in Amsterdam, the Netherlands.

Date:

(Signature)

THIS DOCUMENT MUST BE MAILED TO:

       United Pan-Europe Communications N.V.
       Attention: Ms Gina van der Werf
       P.O. Box 74763
       1070 BT AMSTERDAM
       The Netherlands

                                       33
<PAGE>
                                                                       EXHIBIT K

                                SHARE OWNERSHIP

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
1141 Inc....................................................     75,000
555 Genesee/Beta Partners...................................     37,500
A.R.H. Business Partnership L.T.D...........................     37,500
Abbe-Berman Partners I......................................     12,500
Abco Fund Ltd...............................................    127,500
Alexander M. Wilson and Beverlee Wilson 1997 Trust..........     37,500
Allen, Alvin B..............................................    525,600
Allen, Douglas W............................................    372,300
Allen, Linda J..............................................     65,700
Allen, Matthew B............................................    438,000
American High Growth Equities Retirement Trust..............     50,000
American High Growth Equities Retirement Trust..............    100,000
Anes Family Trust...........................................    150,000
Anszelowicz Marcos..........................................     67,233
April L. Hollis and James M. Domesek, MD, as tenants in
  common....................................................     36,000
Arnett, M.D., Jan...........................................    149,600
ARS Revocable Family Trust U/A/D 8/11/97....................     75,000
Arthur Y. Liss Revocable Trust U/A dtd. 9/26/83.............     12,500
Asch, Donald R..............................................     30,000
Avanti Technology Inc.......................................     35,000
Babington, John M...........................................     35,000
Baker, James V..............................................    150,000
Banque Nationale de Paris (Switzerland) S.A.................  2,000,000
Banque SCS Alliance S.......................................    199,000
Barron, Bruce N. and Jacqueline A...........................     37,500
Bayle, Paul.................................................     18,750
Beck, Marcy Lowenstein......................................     18,750
Bein, Marvin................................................     75,000
Bennett, Paul E.............................................     11,250
Bennett, Paul E and Hedy M.S................................     22,500
Bernheim, Antoine...........................................     30,000
Bernstein, Edwin............................................      2,500
Berthoumleux, Robert........................................     60,000
Bick Family Trust dated 10/17/95............................     37,500
Bloom, Roslyn...............................................     11,000
Boland, E. Wayne............................................     75,000
Boonshoft, Oscar............................................    135,000
Borman, Iris................................................     18,750
Brad Peery Capital Inc......................................      5,900
Brad Peery Capital International............................     27,600
Brad Peery Capital Ventures, L.P............................     41,500
Brad Peery Capital, L.P.....................................     66,200
Bradley Resources Company...................................    210,000
Brady, C. Eugene............................................     45,000
Brown, Robert Bruce.........................................     37,500
Brown Brothers Harriman, New York...........................     37,000
</TABLE>

                                       34
<PAGE>

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
Buntz, Mark Alan............................................     37,500
Bushansky, Stephen..........................................     37,500
Byer, Jeffrey and Mary Jean.................................     37,500
Cardwell, J.A...............................................     25,000
Carol Davis Living Trust dated 8/9/97.......................     20,000
Carpenter, Kathleen.........................................        500
Carter, Malissa.............................................      1,000
Charles, Margaret M.........................................     10,123
Chowdury, Shah N............................................     25,000
Ciment, Norman..............................................     80,000
CITCO GLOBAL CUSTODY NV-CASH................................    100,000
Condon, Garry P.............................................     18,750
Connoni, Stephen............................................     37,500
Constructor's West, Inc.....................................     30,000
Cook, Lawrence A............................................     45,000
Csiliag, Robert.............................................     50,000
Culang, Sheila..............................................     37,500
Dacey, J. Donald and Mary W.................................     32,500
Daniel, Alan S..............................................     12,500
Darier, Hentsch & Cle.......................................     30,000
Davis, Mitchel..............................................     20,000
Davis, Peter................................................     20,000
Dean Witter Custodian for the William E. McComb IRA A/C #663
  88093104..................................................     18,750
Delaware Charter Guarantee & Trust Co.......................     67,000
Delaware Charter Guarantee & Trust Co., C/F Barry W. Morgan,
  MD IRA....................................................     37,500
Delaware Charter Guarantee & Trust Co., C/F David S. Most
  IRA.......................................................     27,000
Delaware Charter Guarantee & Trust Co., C/F Harvey Dondero
  IRA.......................................................     18,750
Delaware Charter Guarantee & Trust Co., C/F John C. Martin
  IRA.......................................................     12,500
Delaware Charter Guarantee & Trust Co., C/F Lawrence Welsman
  IRA Rollover..............................................     37,500
Delaware Charter Guarantee & Trust Co., C/F Robert Rosner
  IRA.......................................................     34,600
Delaware Charter Guarantee & Trust Co., FBO Samuel J.
  Holtzman IRA..............................................    112,500
Dempsey, Wallace G..........................................     60,000
des Gachons, Gilles P.......................................    150,000
Dioguardi, William P........................................    100,000
Domino, Carl J..............................................    150,000
Donald Farley Inter-Vivos Trust.............................     10,000
Doyle, William J............................................     15,000
Draeger, Barry R............................................     30,000
E.H. Tepe Co. Inc...........................................     37,500
Edward Teeple, Jr. and Christine A. Edelman, as Joint
  Tenant....................................................     37,500
Egger & Co..................................................     35,000
Elkin, Richard..............................................     56,000
Farley, Donald F............................................     27,500
Farney, Bryan...............................................     18,750
Feldman, Laura..............................................     18,750
Fenske, Reiner..............................................     37,500
Fidulex Manager, Inc........................................     80,000
Finkle, S. Marcus...........................................     56,250
Fisch, Martin...............................................     12,500
</TABLE>

                                       35
<PAGE>

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
Fischer, Charles............................................     35,000
Friedli, Peter..............................................     75,000
Frischling, Carl............................................     30,000
Frumin, Jeffrey.............................................      9,375
Frumin, Steven..............................................      9,375
Gamzu, S. Zelda.............................................     30,000
Gans, Walter G..............................................     37,500
Garfield Associates LLC.....................................    150,000
Garnick, Michael J..........................................    150,000
Gatschet, Lisa Susan........................................     50,000
Gault, Harold S.............................................     37,500
Gensec Corporation NV.......................................     75,000
George L. Black Trust.......................................     37,500
Gerzof Investment Limited Partnership I.....................    180,000
Gerzof Investment Limited Partnership II....................     90,000
Gestori Patrimoniali Associati SA...........................     75,000
GHI, Ltd....................................................     40,000
Gili Fishman and Barbara Tyrrell............................     26,250
Glockner, James.............................................     75,000
Goeljian, Samuel V..........................................     71,250
Goldman, Alan I.............................................     37,500
Goldman, Fred W.............................................     37,500
Grantham, R. Nathan and Linda L.............................     29,000
Greenbaum, Ronald M. and Rita C., as joint tenants..........     30,000
Grobman, Richard............................................     30,000
Gross, Donald...............................................     60,000
Gross Foundation, Inc.......................................    187,500
Grushkin, Allon Z...........................................     37,500
Gruverman, Irwin............................................     60,000
Gulfstream Asset Management Corp. Retirement Trust..........     37,500
Hafter, Robert..............................................     36,000
Hanson, Keith A.............................................     37,500
Hare & Co...................................................     75,000
Henningsson, Bragi..........................................     33,750
Henry S. & Constance A. Katzenstein Community Property Trust
  UAD 9/1/86................................................     75,000
Herschberger, Shelley.......................................      6,000
Heussner, George T..........................................     18,750
Hirsh, Norman...............................................     18,750
Hodas, Martin...............................................     75,000
Hoffman, Richard M..........................................     37,500
Holmes, James F.............................................     75,000
Horberg, Howard Todd........................................     40,000
Horner, Henry C.............................................     37,500
Hughes, Christopher A. and Eileen B.........................     22,500
Hurwitz, Robert and Connie, as tenants by the entireties....     15,000
Intergalactic Growth Fund Inc...............................     75,000
Isaacson, Neal..............................................    647,400
Isaacson, as Custodian for Adam M. Isaacson, u/Mass UTMA,
  Maris S...................................................      9,200
Isaacson, as Custodian for Eric S. Isaacson u/ Mass UTMA,
  Marie S...................................................      9,200
</TABLE>

                                       36
<PAGE>

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
Isaacson, as Custodian for Sara F. Isaacson u/ Mass UTMA,
  Marie S...................................................      9,200
Isell, Andre................................................     75,000
Italian Jewelry Designs Inc.................................     37,500
Jamscor Inc.................................................    135,000
John S. Schwarz MD, PC Profit Sharing Plan & Trust, PC
  Profit Sharing and Trust..................................    112,500
Jones, W. Kentley...........................................    120,000
Joseph M. McNulty Trust.....................................     37,500
Joyce, Ltd..................................................     75,000
Kalka, Howard...............................................     30,000
Karp, Fred and Karen, as joint tenants......................     37,500
Karpoff, Marilyn............................................     37,500
Katz, Todd..................................................     37,500
Kaufman, Richard M and Madelyn B., as joint tenants.........     37,500
Kazickas, Joseph P..........................................     40,000
Kevin Kimberlin Partners, L.P...............................  1,125,000
Kimberly, William E.........................................     42,500
Kings Dental Group Profit Sharing Plan U/A/ 01/01/97 F.B.O.
  Leonard J. Zweifier D.D.S.................................     37,500
Klazmer, Myrna Okeon........................................      1,000
Klugman, Daniel and Miriam, as joint tenants................     37,500
Knight, Warren..............................................     25,000
Korman, Steve and Kathleen, as joint tenants................     37,500
Kramer, Garrett.............................................     22,500
Kravets, Howard B...........................................     50,000
Kroening, John C. and Sherri L., as joint tenants...........     36,500
Krouner, Richard M..........................................     18,750
Kunzweller, William.........................................     75,000
Lambda IV, LLC..............................................    150,000
Lamond, Frank...............................................     37,500
Land, Blaine S..............................................     10,000
Land, Gregory Lawrence......................................     10,000
Land, Joan..................................................     10,000
Land, Mark S................................................  1,550,000
Lang, Ken and Anita.........................................     18,750
Larry H. Tucker & Jane S. Tucker, JTWROS....................     75,000
Lebwohl, Mark...............................................     37,500
Lerner, Lawrence I..........................................     20,000
Leuenberger, Andreas F......................................     39,000
Leyrer, David T.............................................     37,500
Linhart, DDS, Jan...........................................     37,500
Lisa Bloom, Custodian for Max Bloom UGMA/IL.................      4,000
Liss, Arthur Y., TTEE U/A DTD 9/26/63.......................     25,000
Louis Aronson Part B Trust..................................     75,000
Lydon, Harris R.L...........................................     15,750
Macdonald, Claudia A........................................     37,500
Mallampati, Seshagiri Rao...................................     49,500
Mariani, Roger..............................................     37,500
Marilyn Hausman Successor Trust.............................     22,500
Mastrilli, Kenneth..........................................     37,500
Mathis L. Becker, M.D., P.A., Profit Sharing Plan...........     10,000
</TABLE>

                                       37
<PAGE>

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
Mazza, David B..............................................    254,500
McComb, William E...........................................     37,500
Mendelson, Alan.............................................     59,600
Mercado, Hector R. and Belan A..............................     37,500
Milch, David M..............................................     75,000
Miller, Paul L..............................................     36,000
Moazez Family Limited Partnership...........................     75,000
Moellendick, Penny..........................................      5,000
Moellendick, Scott..........................................      2,000
Morgan, Alfred D............................................     25,000
Most, David S. and Shirley F................................     10,500
Mover, J/T/W/R/O/S, George Mover and Ruth...................    262,800
Mower, Morton...............................................     37,500
MSSS Family Partners, Ltd...................................     58,000
Nano-Cap Hyper Growth Partnership L.P.......................     75,000
Nash, Elizabeth Allen.......................................    262,800
Neko Enterprises Limited....................................     37,500
Nexus Group LLC.............................................    127,500
Nicolazzo, Richard E........................................     56,000
Nilsen, Ronald L. and Carolyn M., as joint tenants..........     25,000
Norman A. Pappas Trust dated 9/4/74.........................     37,500
Norrod, James D.............................................    100,000
Okeon, David................................................      1,000
Okeon, Mel..................................................    120,000
Okeon, Milton...............................................      1,000
Ollendorff, Stephen A.......................................     37,500
Oshkim Limited Partners, L.P................................  1,156,000
Osias, Marc B...............................................     36,000
Ott, Robert R...............................................    112,500
Pace Capital Inc............................................     25,000
Paul F. Glenn Foundation for Medical Research...............    127,500
Paul F. Glenn Revocable Trust...............................    127,500
Pennygrows Ltd..............................................      9,500
Perelman, Albert and Lorraine, JTWROS.......................     18,750
Periman, Abbe Lynn..........................................     14,350
Perlman, Andrew T...........................................  2,251,250
Perlman, Lesley A...........................................     14,700
Perlman, Robert S...........................................     14,700
Perrine, Gary R. and Rebecca C..............................    150,000
Petrus, Paul F..............................................     37,500
Pfrommer, John W............................................     36,000
Pintsov, Leon A.............................................     28,000
Pitts, John R...............................................     18,750
Pohrer, Cori S..............................................     31,000
Porcelain Partners, L.P.....................................    127,500
Progressive Ins. Agency Inc.................................     33,750
Prudential Securities C/F John C. Martin IRA Rollover.......     25,000
Reardon, Robert J...........................................     37,500
Rich, Rodney L. and Kristin O., JTWROS......................     75,000
</TABLE>

                                       38
<PAGE>

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
Richey, Jr., Sheffield C....................................     25,000
Ringier AG..................................................    150,000
Robinson, Newton Y..........................................     37,500
Rockford Income Partnership.................................     37,500
Rolls, Elizabeth A..........................................     37,500
Ronald L. Nilsen & Carolyn M. Nilsen JTWROS.................      8,500
Ronald S. Sheldon, as Trustee, or his successors in trust,
  of the Ronald S. Sheldon Trust, dated November 9, 1998....     37,500
Rosenberg, David............................................     30,000
Rubin, Michael..............................................     37,500
Saiia, Joseph A.............................................     56,250
Sally S. Levy Marital Trust U/W John Levy 6/17/87...........     33,750
Salm, Alex and Caryn........................................     22,500
Samual J. Holtzman Trust....................................    100,000
SANPAOLO BANK S.A...........................................     30,000
Saperstein, Paul E..........................................     37,500
Sauer, Harry and Judy, as joint tenants.....................     37,500
Schloo, Dietmer.............................................     30,000
Schwimer, Alfred and Cheryl M., as joint tenants............     18,750
Shapiro, Edward.............................................     76,500
Sharomart Limited Partners, L.P.............................     17,000
Shuman, Dr. Alan M. and Jody, as joint tenants..............     37,500
Sigma Services Corp.........................................     37,500
Slater, Bertram H...........................................     33,750
Solomos, Stacy..............................................     37,500
Spencer Trask Securities, Inc...............................    184,500
Spitzman, David and Mary D., as joint tenants...............     33,750
State Street Bank and Trust Co, TTEEAIG Trading Group Inc.
  Deferred Compensation Plan FBO Henry Volquardsen..........     22,500
Stephen Kelly Warren Trust "A"..............................     37,500
Swedroe Family Limited Partnership..........................     52,500
Tanner, Christy.............................................      1,000
The Rayer Investment Company, LP............................     18,750
The William K. Warren Foundation............................    150,000
Tucker Anthony, Inc. C/F Richard W. Greene IRA DTD
  11/08/99..................................................     37,500
UBS AG, Zurich..............................................    240,000
Venturetec, Inc.............................................  6,000,000
Verstraeten, Thierry........................................     18,750
Viatel, Inc.................................................  1,000,000
Vito Stamato Family Ltd. Pshp...............................     18,750
Ward, David A...............................................    150,000
Warner, Larry and Rebecca S., as joint tenants..............     35,000
Werlinich, Greg.............................................    105,000
Westermann, Alexis..........................................     60,000
Wierner Charitable Remainder Unitrust.......................     37,500
Wilensky, M.D., Allan S.....................................     37,500
William K. Warren, Jr. Trust A..............................     25,000
William M. Van Cleve Trust dated 6/19/95....................     17,500
Williams K. Warren, Jr. Trust A.............................     50,000
</TABLE>

                                       39
<PAGE>

<TABLE>
<CAPTION>
                                                              NUMBER OF
NAME OF SHAREHOLDERS                                           SHARES
--------------------                                          ---------
<S>                                                           <C>
Williams M. Van Cleve Trust dated 6/19/95...................     35,000
Wilmer Stoudt & Helen Stoudt, JTWROS........................      4,000
Wolfe, Emily Allen..........................................    262,800
Wolfe, J. Michael...........................................     75,000
Womack, Betty...............................................      2,000
Wong, Barbara Schepps and Richard, tenants in common........     18,750
Wood Asset Management, LTD..................................     37,500
Yordy, Harold and Phyllis, tenants in common................     31,250
Yordy, Michael and Jennifer, as joint tenants...............      6,250
Zeiman, Marvin..............................................     15,000
Zeiman TIC, Martin and Robert...............................     60,000
Zizzamia, J/T/W/R/O/S, Patricia K. Zizzamia and Mark H......     37,500
Zucker, Robert D............................................     22,500
</TABLE>

                                       40
<PAGE>
                                                                       EXHIBIT L

          DEFINITION OF "ACCREDITED INVESTOR" PURSUANT TO REGULATION D

    ACCREDITED INVESTOR.  "Accredited investor" shall mean any person who comes
within any of the following categories, or who the issuer reasonably believes
comes within any of the following categories, at the time the sale of the
securities to that person:

(1) Any bank as defined in Section 3(a) (2) of the Act, or any savings and loan
    association or other institution as defined in Section 3(a)(5)(A) of the Act
    whether acting in its individual or fiduciary capacity; any broker or dealer
    registered pursuant to Section 15 of the Securities Exchange Act of 1934;
    any insurance company as defined in Section 2(13) of the Act; any investment
    company registered under the Investment Company Act of 1940 or a business
    development company as defined in Section 2(a)(48) of that Act; any Small
    Business Investment Company licensed by the U.S. Small Business
    Administration under Section 301(c) or (d) of the Small Business Investment
    Act of 1958; any plan established and maintained by a state, its political
    subdivisions, or any agency or instrumentality of a state or its political
    subdivisions, for the benefit of its employees, if such plan has total
    assets in excess of $5,000,000; any employee benefit plan within the meaning
    of the Employee Retirement Income Security Act of 1974 if the investment
    decision is made by a plan fiduciary, as defined in Section 3(21) of such
    Act, which is either a bank, savings and loan association, insurance
    company, or registered investment adviser, or if the employee benefit plan
    has total assets in excess of $5,000,000 or, if a self directed plan, with
    investment decisions made solely by persons that are accredited investors;

(2) Any private business development company as defined in Section 202(a)(22) of
    the Investment Advisers Act of 1940;

(3) Any organization described in Section 501(c)(3) of the Internal Revenue
    Code, corporation, Massachusetts or similar business trust, or partnership,
    not formed for the specific purpose of acquiring the securities offered,
    with total assets in excess of $5,000,000;

(4) Any director, executive officer, or general partner of the issuer of the
    securities being offered or sold, or any director, executive officer, or
    general partner of a general partner of that issuer;

(5) Any natural person whose individual net worth, or joint net worth with that
    person's spouse, at the time of his purchase exceeds $1,000,000;

(6) Any natural person who had an individual income in excess of $200,000 in
    each of the two most recent years or joint income with that person's spouse
    in excess of $300,000 in each of those years and has a reasonable
    expectation of reaching the same income level in the current year;

(7) Any trust, with total assets in excess of $5,000,000, not formed for the
    specific purpose of acquiring the securities offered, whose purchase is
    directed by a sophisticated person as described in Rule 506(b)(2)(ii); and

(8) Any entity in which all of the equity owners are accredited investors.

                                       41
<PAGE>
               LIST OF SIGNATORIES TO THE SHAREHOLDER'S AGREEMENT

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
1141 Inc.
555 Genesee/Beta Partners
A.R.H. Business Partnership L.T.D.
Abbe-Berman Partners I
Abco Fund Ltd.
Alexander M. Wilson and Beverlee Wilson 1997 Trust
Allen, Alvin B.
Allen, Douglas W.
Allen, Linda J.
Allen, Matthew B.
American High Growth Equities Retirement Trust
American High Growth Equities Retirement Trust
Anes Family Trust
Anszelowicz Marcos
April L. Hollis and James M. Domesek, MD, as tenants in
  common
Arnett, M.D., Jan
ARS Revocable Family Trust U/A/D 8/11/97
Arthur Y. Liss Revocable Trust U/A dtd. 9/26/83
Asch, Donald R.
Avanti Technology Inc.
Babington, John M.
Baker, James V.
Banque Nationale de Paris (Switzerland) S.A.
Banque SCS Alliance S.
Barron, Bruce N. and Jacqueline A
Bayle, Paul
Beck, Marcy Lowenstein
Bein, Marvin
Bennett, Paul E.
Bennett, Paul E and Hedy M.S.
Bernheim, Antoine
Bernstein, Edwin
Berthoumleux, Robert
Bick Family Trust dated 10/17/95
Bloom, Roslyn
Boland, E. Wayne
Boonshoft, Oscar
Borman, Iris
Brad Peery Capital Inc.
Brad Peery Capital International
Brad Peery Capital Ventures, L.P.
Brad Peery Capital, L.P.
Bradley Resources Company
Brady, C. Eugene
Brown, Robert Bruce
Brown Brothers Harriman, New York
Buntz, Mark Alan
</TABLE>

                                       42
<PAGE>

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
Bushansky, Stephen
Byer, Jeffrey and Mary Jean
Cardwell, J.A.
Carol Davis Living Trust dated 8/9/97
Carpenter, Kathleen
Carter, Malissa
Charles, Margaret M.
Chowdury, Shah N.
Ciment, Norman
CITCO GLOBAL CUSTODY NV-CASH
Condon, Garry P.
Connoni, Stephen
Constructor's West, Inc.
Cook, Lawrence A.
Csiliag, Robert
Culang, Sheila
Dacey, J. Donald and Mary W.
Daniel, Alan S.
Darier, Hentsch & Cle
Davis, Mitchel
Davis, Peter
Dean Witter Custodian for the William E. McComb IRA A/C #663
  88093104
Delaware Charter Guarantee & Trust Co.
Delaware Charter Guarantee & Trust Co., C/F Barry W. Morgan,
  MD IRA
Delaware Charter Guarantee & Trust Co., C/F David S. Most
  IRA
Delaware Charter Guarantee & Trust Co., C/F Harvey Dondero
  IRA
Delaware Charter Guarantee & Trust Co., C/F John C. Martin
  IRA
Delaware Charter Guarantee & Trust Co., C/F Lawrence Welsman
  IRA Rollover
Delaware Charter Guarantee & Trust Co., C/F Robert Rosner
  IRA
Delaware Charter Guarantee & Trust Co., FBO Samuel J.
  Holtzman IRA
Dempsey, Wallace G.
des Gachons, Gilles P.
Dioguardi, William P.
Domino, Carl J.
Donald Farley Inter-Vivos Trust
Doyle, William J.
E.H. Tepe Co. Inc.
Edward Teeple, Jr. and Christine A. Edelman, as Joint Tenant
Egger & Co.
Elkin, Richard
Farley, Donald F.
Farney, Bryan
Feldman, Laura
Fenske, Reiner
Fidulex Manager, Inc.
Fisch, Martin
Fischer, Charles
Friedli, Peter
Frischling, Carl
</TABLE>

                                       43
<PAGE>

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
Frumin, Jeffrey
Frumin, Steven
Gamzu, S. Zelda
Gans, Walter G.
Garfield Associates LLC
Garnick, Michael J.
Gatschet, Lisa Susan
Gault, Harold S.
Gensec Corporation NV
George L. Black Trust
Gestori Patrimoniali Associati SA
GHI, Ltd.
Gili Fishman and Barbara Tyrrell
Glockner, James
Goeljian, Samuel V.
Goldman, Alan I.
Goldman, Fred W.
Grantham, R. Nathan and Linda L.
Greenbaum, Ronald M. and Rita C., as joint tenants
Grobman, Richard
Gross, Donald
Gross Foundation, Inc.
Grushkin, Allon Z.
Gruverman, Irwin
Gulfstream Asset Management Corp. Retirement Trust
Hafter, Robert
Hanson, Keith A.
Hare & Co.
Henningsson, Bragi
Henry S. & Constance A. Katzenstein Community Property Trust
  UAD 9/1/86
Herschberger, Shelley
Heussner, George T.
Hirsh, Norman
Hodas, Martin
Hoffman, Richard M.
Holmes, James F.
Horberg, Howard Todd
Hughes, Christopher A. and Eileen B.
Hurwitz, Robert and Connie, as tenants by the entireties
Intergalactic Growth Fund Inc.
Isaacson, Neal
Isaacson, as Custodian for Adam M. Isaacson, u/Mass UTMA,
  Maris S.
Isaacson, as Custodian for Eric S. Isaacson u/ Mass UTMA,
  Marie S.
Isaacson, as Custodian for Sara F. Isaacson u/ Mass UTMA,
  Marie S.
Isell, Andre
Italian Jewelry Designs Inc.
Jamscor Inc.
John S. Schwarz MD, PC Profit Sharing Plan & Trust, PC
  Profit Sharing and Trust
Jones, W. Kentley
Joseph M. McNulty Trust
</TABLE>

                                       44
<PAGE>

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
Joyce, Ltd.
Kalka, Howard
Karp, Fred and Karen, as joint tenants
Karpoff, Marilyn
Katz, Todd
Kaufman, Richard M and Madelyn B., as joint tenants
Kazickas, Joseph P.
Kevin Kimberlin Partners, L.P.
Kimberly, William E.
Kings Dental Group Profit Sharing Plan U/A/ 01/01/97 F.B.O.
  Leonard J. Zweifier
D.D.S.
Klazmer, Myrna Okeon
Klugman, Daniel and Miriam, as joint tenants
Knight, Warren
Korman, Steve and Kathleen, as joint tenants
Kramer, Garrett
Kravets, Howard B.
Kroening, John C. and Sherri L., as joint tenants
Krouner, Richard M.
Lambda IV, LLC
Lamond, Frank
Land, Blaine S.
Land, Gregory Lawrence
Land, Joan
Land, Mark S
Lang, Ken and Anita
Larry H. Tucker & Jane S. Tucker, JTWROS
Lebwohl, Mark
Lerner, Lawrence I.
Leuenberger, Andreas F.
Leyrer, David T.
Linhart, DDS, Jan
Lisa Bloom, Custodian for Max Bloom UGMA/IL
Liss, Arthur Y., TTEE U/A DTD 9/26/63
Louis Aronson Part B Trust
Lydon, Harris R.L.
Macdonald, Claudia A.
Mallampati, Seshagiri Rao
Mariani, Roger
Marilyn Hausman Successor Trust
Mastrilli, Kenneth
Mathis L. Becker, M.D., P.A., Profit Sharing Plan
Mazza, David B.
McComb, William E.
Mendelson, Alan
Mercado, Hector R. and Belan A.
Milch, David M.
Miller, Paul L.
Moazez Family Limited Partnership
Moellendick, Penny
</TABLE>

                                       45
<PAGE>

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
Moellendick, Scott
Morgan, Alfred D.
Most, David S. and Shirley F.
Mover, J/T/W/R/O/S, George Mover and Ruth
Mower, Morton
MSSS Family Partners, Ltd.
Nano-Cap Hyper Growth Partnership L.P.
Nash, Elizabeth Allen
Neko Enterprises Limited
Nexus Group LLC
Nicolazzo, Richard E.
Nilsen, Ronald L. and Carolyn M., as joint tenants
Norman A. Pappas Trust dated 9/4/74
Norrod, James D.
Okeon, David
Okeon, Mel
Okeon, Milton
Ollendorff, Stephen A.
Oshkim Limited Partners, L.P.
Osias, Marc B.
Ott, Robert R.
Pace Capital Inc.
Paul F. Glenn Foundation for Medical Research
Paul F. Glenn Revocable Trust
Pennygrows Ltd.
Perelman, Albert and Lorraine, JTWROS
Periman, Abbe Lynn
Perlman, Andrew T.
Perlman, Lesley A.
Perlman, Robert S.
Perrine, Gary R. and Rebecca C.
Petrus, Paul F.
Pfrommer, John W.
Pintsov, Leon A.
Pitts, John R.
Pohrer, Cori S.
Porcelain Partners, L.P.
Progressive Ins. Agency Inc.
Prudential Securities C/F John C. Martin IRA Rollover
Rich, Rodney L. and Kristin O., JTWROS
Richey, Jr., Sheffield C.
Ringier AG
Robinson, Newton Y.
Rockford Income Partnership
Rolls, Elizabeth A.
Ronald L. Nilsen & Carolyn M. Nilsen JTWROS
Ronald S. Sheldon, as Trustee, or his successors in trust,
  of the Ronald S.
Sheldon Trust, dated November 9, 1998
Rosenberg, David
Rubin, Michael
</TABLE>

                                       46
<PAGE>

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
Saiia, Joseph A.
Sally S. Levy Marital Trust U/W John Levy 6/17/87
Salm, Alex and Caryn
Samual J. Holtzman Trust
SANPAOLO BANK S.A.
Saperstein, Paul E.
Sauer, Harry and Judy, as joint tenants
Schloo, Dietmer
Schwimer, Alfred and Cheryl M., as joint tenants
Shapiro, Edward
Sharomart Limited Partners, L.P.
Shuman, Dr. Alan M. and Jody, as joint tenants
Sigma Services Corp.
Slater, Bertram H.
Solomos, Stacy
Spencer Trask Securities, Inc.
Spitzman, David and Mary D., as joint tenants
State Street Bank and Trust Co, TTEEAIG Trading Group Inc.
  Deferred
Compensation Plan FBO Henry Volquardsen
Stephen Kelly Warren Trust "A"
Swedroe Family Limited Partnership
Tanner, Christy
The Rayer Investment Company, LP
The William K. Warren Foundation
Tucker Anthony, Inc. C/F Richard W. Greene IRA DTD 11/08/99
UBS AG, Zurich
Venturetec, Inc.
Verstraeten, Thierry
Viatel, Inc.
Vito Stamato Family Ltd. Pshp.
Ward, David A.
Warner, Larry and Rebecca S., as joint tenants
Werlinich, Greg
Westermann, Alexis
Wierner Charitable Remainder Unitrust
Wilensky, M.D., Allan S.
William K. Warren, Jr. Trust A.
William M. Van Cleve Trust dated 6/19/95
Williams K. Warren, Jr. Trust A.
Williams M. Van Cleve Trust dated 6/19/95
Wilmer Stoudt & Helen Stoudt, JTWROS
Wolfe, Emily Allen
Wolfe, J. Michael
Womack, Betty
Wong, Barbara Schepps and Richard, tenants in common
Wood Asset Management, LTD
</TABLE>

                                       47
<PAGE>

<TABLE>
<CAPTION>
NAME OF SHAREHOLDERS
--------------------
<S>                                                           <C>
Yordy, Harold and Phyllis, tenants in common
Yordy, Michael and Jennifer, as joint tenants
Zeiman, Marvin
Zeiman TIC, Martin and Robert
Zizzamia, J/T/W/R/O/S, Patricia K. Zizzamia and Mark H.
Zucker, Robert D.
</TABLE>

------------------------

1   Profit and non-profit entities with five or less employees

                                       48

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