QuickLinks -- Click here to rapidly navigate through this document

Exhibit 10.3.4

AFFIDAVIT

STATE OF NEW JERSEY )       SS.:     COUNTY OF MONMOUTH )    

        Joseph J. Raymond, being duly sworn, deposes and says:

        I. I am the Chief Executive Officer of Stratus Services Group, Inc.,
with corporate offices located 500 Craig Road, Suite 201, Manalapan, New Jersey
07726.

        2. On April 11, 2003 1 manually signed the Third Amendment to Loan and
Security Agreement between Stratus Services Group, Inc. and Capital Temp
Funds, Inc. dated April 10, 2003 (the ``Agreement"), as Chief Executive Officer
of Stratus Services Group, Inc.

        3. On April, 15, 2003 the Agreement was sent by my office via FEDEX to
Capital Temp Funds, Inc. On April 16, 2003 said Agreement was received by
Capital Temp Funds, Inc. and subsequently misplaced and/or lost.

        4, On June 11, 2003, I manually signed a second original version of the
Agreement as a replacement of the first version, which has been misplaced and/or
lost.

        I hereby swear that the foregoing statements made by me are true. I am
aware that if any of these statements are willfully false I am subject to
punishment.

 
 
/s/  JOSEPH J. RAYMOND      

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

JOSEPH J. RAYMOND
Sworn to before me this
11th day of June, 2003.
 
 
/s/  DIANE AMATUCCI      

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

Notary Public
 
 
DIANE AMATUCCI
A Notary Public of New Jersey
My Commission Expires May 8, 2007

 
 

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

THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT

        THIS THIRD AMENDMENT to the Loan and Security Agreement, dated as of
April 10, 2003, is entered into by and between CAPITAL TEMPFUNDS, INC., a North
Carolina corporation (herein called "TEMPFUNDS") and STRATUS SERVICES
GROUP, INC., a Delaware corporation (herein called "BORROWER").

RECITALS:

        a) TEMPFUNDS and BORROWER are parties to a Loan and Security Agreement
dated December 8, 2000, as amended by that certain First Amendment to Loan and
Security Agreement dated June 12, 2001, and as further amended by that certain
Second Amendment to Loan and Security Agreement dated as of December 8, 2002
(hereinafter referred to as the "Agreement").

        b) BORROWER and TEMPFUNDS have agreed to certain modifications of the
Agreement as a result of the ongoing business relationship between the parties.

AGREEMENT

        IN CONSIDERATION of the above recitals and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

        1. The above recitals are true and correct and are incorporated herein
by this reference.

        2. Each of the terms defined in the Agreement unless otherwise defined
herein, shall have the same meaning when used herein.

        3. Item 5 of Schedule 1 is hereby deleted and replaced with the
following:

        5. "Lock Box" as referred to in Section 1.23 means:

Operations Center
Post Office Box 601005
Charlotte, NC 28260-1005
                    and
P.O. Box 79373
City of Industry, CA 91716-9373

        4. Item 6 of Schedule 1 is hereby deleted and replaced with the
following:

"6. "Maximum Credit Line" as referred to in Section 1.25 means TWELVE MILLION
DOLLARS ($12,000,000.00) until such time as the Capital sells participations to
third parties ("Participants") in the loans to Borrower, upon terms and
conditions acceptable to Capital in its sole discretion, at which point the
Maximum Credit Line shall increase to $11,000,000.00 plus the aggregate amount
of participations sold to Participants, up to a maximum amount of Fifteen
Million And 00/100 Dollars ($15,000,000.00)."

2

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

        5. Item 10 of Schedule 1 is hereby deleted and replaced with the
following:

"10. "Margin" as referred to in Section 2.3.5 means three percent (3.0%). For
the purposes of determining the Governing Rate, the Prime Rate shall never be
less than four and one-quarter percent (4.25%) and the Governing Rate shall
never be less than seven and one-quarter percent (7.25%). Notwithstanding the
foregoing, in the event that any Participant charges interest at a rate in
excess of the Prime Rate plus two and one-half percent (2.5%) (the "Participant
Rate"), then the interest rate on the portion of the loans purchased by
Participant will be increased by the amount that the Participant Rate exceeds
the Prime Rate plus two and one-half percent (2.5%)."

        6. Upon the effectiveness of this Amendment, each reference in the
Agreement to the "Agreement", "hereunder", "herein", "hereof", or words of like
import referring to the Agreement shall mean and be a reference to the Agreement
as amended by this Amendment.

        7. This Amendment shall be deemed to be a contract under and subject to
and shall be construed for all purposes and in accordance with the laws of the
State of North Carolina.

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

        9. Except as above amended, the Agreement shall continue in full force
and effect, and is binding upon the Borrower without any setoffs, defenses or
counterclaims of any kind whatsoever.

3

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

        IN WITNESS WHEREOF, the parties have executed and delivered this
Amendment, which shall be effective with the date of the Amendment.

Witnesses:
 
STRATUS SERVICES GROUP, INC
/s/  SUZETTE BERRIOS      

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

 
By:
/s/  JOSEPH J. RAYMOND      

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

Joseph J. Raymond, President
/s/  MICHAEL MALTZMAN      

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

 
 
 

STATE OF
NEW JERSEY

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

 
          COUNTY OF MONMOUTH

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

   

        The foregoing instrument acknowledged before me this 11th day of June
2003, by Joseph J. Raymond, as President of Stratus Services Group, Inc., a
Delaware corporation, on behalf of the corporation. He is personally known to me
and did take an oath.

    /s/  DIANE AMATUCCI      

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

(Notary Signature)       (NOTARY SEAL)   DIANE AMATUCCI
A Notary Public of New Jersey
My Commission Expires May 8, 2007          

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

(Notary Name Printed)
NOTARY PUBLIC Commission No.                                           

4

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

 
 
CAPITAL TEMPFUNDS, INC.
a North Carolina corporation
 
 
 
 
 

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

  By:   /s/  MICHAEL SULLIVAN      

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

 
 
 
 
 

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

  Title:   SVP

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

STATE OF NORTH CAROLINA
 
 
 
 
COUNTY OF MECKLENBURG
 
 
 
 

        The foregoing instrument was acknowledged before me this 18th day of
June 2003, by Michael Sullivan, as S.V.P. of CAPITAL TEMPFUNDS, INC., a North
Carolina corporation, on behalf of the corporation. He is personally known to me
and (did not) take an oath.

 
 
/s/  M.L. ROTONDI      

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

(Notary Signature)           /s/  M.L. ROTONDI      

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

(Notary Name Printed)
NOTARY PUBLIC Commission No.                                            (NOTARY
SEAL)
[GRAPHIC OMITTED]
"OFFICIAL SEAL"
Notary Public North Carolina
County of Mecklenburg
M.L. Rotondi
My Commission Expires 4/18/2005
   

5

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

REAFFIRMATION OF FIDELITY GUARANTY

        The undersigned hereby reaffirms his Fidelity Guaranty dated as of
December 8, 2000, (the "Guaranty"), consent to the terms of the THIRD Amendment
to Loan and Security Agreement and confirms that the Guaranty is in full force
and effect, and is binding upon the undersigned without any setoffs, defenses or
counterclaims of any kind whatsoever.

    /s/  JOSEPH J. RAYMOND      

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

Joseph J. Raymond

6

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

QuickLinks

Exhibit 10.3.4

AFFIDAVIT