EXHIBIT 10.4
 
RENEWAL AND MODIFICATION AGREEMENT
 
This Renewal and Modification Agreement (this “Agreement”), effective as of
November 1, 2007, is made by and between CaminoSoft Corp., a California
corporation (“Borrower”), and US Special Opportunities Trust PLC (“Lender”).
 
Borrower is indebted to Lender under the terms of a loan (the “Loan”) evidenced
by that certain Convertible Promissory Note, dated February 7, 2007, in the
principal amount of $100,000 (the “Note”), and certain other instruments, as
each may have been previously renewed, modified or extended (such instruments,
and any others which evidence, guaranty, secure or modify the Loan, as any or
all of them may have been amended or modified to date and whether or not
executed by Borrower, shall hereinafter be collectively referred to as the “Loan
Documents”). Payment of the Note is secured by the security interests in all or
substantially all of the assets of Borrower. The parties hereto wish to modify,
renew and extend the maturity of the Note. Accordingly, the parties hereto agree
as follows:
 
5.  Modification. The Note is hereby modified and amended such that (i) the
maturity date of the Note is changed so that payment of the unpaid principal on
the Note, and all accrued and unpaid interest and any other charges, fees and
payments due under the Loan Documents shall be due and payable in full on
February 27, 2008; and (ii) commencing with the interest payments due on
November 1, 2007, such payments will be made by delivering of restricted shares
of Borrower’s Common Stock. The number of shares to be so delivered shall be
equal to the amount of the interest payment divided by the average of the last
sale prices, or if there is no last sale price, the closing bid prices, for the
five trading days immediately preceding the payment date. Except as modified and
amended pursuant to the terms of this Agreement, the Loan Documents, including
without limitation the Note, shall remain in full force and effect in accordance
with their respective terms.
 
6.  Reaffirmation of Loan. Borrower: (a) reaffirms the terms and provisions of,
and its obligations under, the Loan Documents, as modified herein; and (b)
confirms to Lender all security interests and liens heretofore granted to secure
payment and performance of the Note.
 
7.  No Claims or Defenses. Borrower confirms and acknowledges that it has no
claims, offsets, counterclaims or defenses with respect to (i) the payment of
the Loan; (ii) the payment of any other sums due under the Loan Documents; (iii)
the performance of any of Borrower’s obligations under the Loan Documents; or
(iv) any liability under any of the Loan Documents.
 
8.  Governing Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the state of Texas, without reference to
conflict of law principles.
 
 
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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first stated above.
 

  BORROWER:         CaminoSoft Corp.  
   
   
    By:      

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Stephen Crosson
Chief Operating Officer and Chief Financial Officer
   

        LENDER:       US Special Opportunities Trust PLC  
   
   
    By:      

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Russell Cleveland, President
RENN Capital Group, Inc., Investment Advisor

 
 
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