----

----

----

|   |                                               |                                |   |
|--------|----------------------------------------------------|-------------------------------------|--------|
|   | OTELCO      INC.                                   |
|   |                                               |                                |   |
|   | By:                                                | /s/      Curtis L. Garner, Jr.      |   |
|   |                                               | Name:      Curtis L. Garner, Jr.    |   |
|   |                                               | Title:      Chief Financial Officer |   |
|   |                                               |                                |   |
|   | WAR      HOLDINGS, INC.                            |
|   | (As      New Guarantor)                            |
|   |                                               |                                |   |
|   | By:                                                | /s/      Curtis L. Garner, Jr.      |   |
|   |                                               | Name:      Curtis L. Garner, Jr.    |   |
|   |                                               | Title:      Chief Financial Officer |   |
|   |                                               |                                |   |
|   | PINE      TREE HOLDINGS, INC.                      |
|   | (As      New Guarantor)                            |
|   |                                               |                                |   |
|   | By:                                                | /s/      Curtis L. Garner, Jr.      |   |
|   |                                               | Name:      Curtis L. Garner, Jr.    |   |
|   |                                               | Title:      Chief Financial Officer |   |
|   |                                               |                                |   |
|   | THE      PINE TREE TELEPHONE AND TELEGRAPH COMPANY |
|   | (As      New Guarantor)                            |
|   |                                               |                                |   |
|   | By:                                                | /s/      Curtis L. Garner, Jr.      |   |
|   |                                               | Name:      Curtis L. Garner, Jr.    |   |
|   |                                               | Title:      Chief Financial Officer |   |
|   |                                               |                                |   |
|   | CRC      COMMUNICATIONS OF MAINE, INC.             |
|   | (As      New Guarantor)                            |
|   |                                               |                                |   |
|   | By:                                                | /s/      Curtis L. Garner, Jr.      |   |
|   |                                               | Name:      Curtis L. Garner, Jr.    |   |
|   |                                               | Title:      Chief Financial Officer |   |

----

|   | SACO      RIVER TELEGRAPH AND TELEPHONE COMPANY        |
|--------|--------------------------------------------------------|
|   | (As      New Guarantor)                                |
|   |                                                   |   |   |
|   | By:                                                    | /s/      Curtis L. Garner, Jr. |   |
|   |                                                   | Name:      Curtis L. Garner, Jr. |   |
|   |                                                   | Title:      Chief Financial Officer |   |
|   |                                                   |   |   |
|   | COMMUNICATIONS      DESIGN ACQUISITION CORPORATION     |
|   | (As      New Guarantor)                                |
|   |                                                   |   |   |
|   | By:                                                    | /s/      Curtis L. Garner, Jr. |   |
|   |                                                   | Name:      Curtis L. Garner, Jr. |   |
|   |                                                   | Title:      Chief Financial Officer |   |
|   |                                                   |   |   |
|   | GRANBY      HOLDINGS, INC.                             |
|   | (As      New Guarantor)                                |
|   |                                                   |   |   |
|   | By:                                                    | /s/      Curtis L. Garner, Jr. |   |
|   |                                                   | Name:      Curtis L. Garner, Jr. |   |
|   |                                                   | Title:      Chief Financial Officer |   |
|   |                                                   |   |   |
|   | THE      GRANBY TELEPHONE & TELEGRAPH CO. OF MASS. |
|   | (As      New Guarantor)                                |
|   |                                                   |   |   |
|   | By:                                                    | /s/      Curtis L. Garner, Jr. |   |
|   |                                                   | Name:      Curtis L. Garner, Jr. |   |
|   |                                                   | Title:      Chief Financial Officer |   |
|   |                                                   |   |   |
|   | BRINDLEE      HOLDINGS LLC                             |
|   | (As      Existing Guarantor)                           |
|   |                                                   |   |   |
|   | By:                                                    | /s/      Curtis L. Garner, Jr. |   |
|   |                                                   | Name:      Curtis L. Garner, Jr. |   |
|   |                                                   | Title:      Chief Financial Officer |   |

----

|   | BRINDLEE      MOUNTAIN TELEPHONE COMPANY     |
|--------|----------------------------------------------|
|   | (As      Existing Guarantor)                 |
|   |                                         |   |   |
|   | By:                                          | /s/      Curtis L. Garner, Jr. |   |
|   |                                         | Name:      Curtis L. Garner, Jr. |   |
|   |                                         | Title:      Chief Financial Officer |   |
|   |                                         |   |   |
|   | BLOUNTSVILLE      TELEPHONE COMPANY, INC.    |
|   | (As      Existing Guarantor)                 |
|   |                                         |   |   |
|   | By:                                          | /s/      Curtis L. Garner, Jr. |   |
|   |                                         | Name:      Curtis L. Garner, Jr. |   |
|   |                                         | Title:      Chief Financial Officer |   |
|   |                                         |   |   |
|   | HOPPER      HOLDING COMPANY, INC.            |
|   | (As      Existing Guarantor)                 |
|   |                                         |   |   |
|   | By:                                          | /s/      Curtis L. Garner, Jr. |   |
|   |                                         | Name:      Curtis L. Garner, Jr. |   |
|   |                                         | Title:      Chief Financial Officer |   |
|   |                                         |   |   |
|   | HOPPER      TELECOMMUNICATIONS COMPANY, INC. |
|   | (As      Existing Guarantor)                 |
|   |                                         |   |   |
|   | By:                                          | /s/      Curtis L. Garner, Jr. |   |
|   |                                         | Name:      Curtis L. Garner, Jr. |   |
|   |                                         | Title:      Chief Financial Officer |   |
|   |                                         |   |   |
|   | IMAGINATION,      INC.                       |
|   | (As      Existing Guarantor)                 |
|   |                                         |   |   |
|   | By:                                          | /s/      Curtis L. Garner, Jr. |   |
|   |                                         | Name:      Curtis L. Garner, Jr. |   |
|   |                                         | Title:      Chief Financial Officer |   |

----

|   | MID-MAINE      COMMUNICATIONS, INC. |
|--------|-------------------------------------|
|   | (As      Existing Guarantor)        |
|   |                                |   |   |
|   | By:                                 | /s/      Curtis L. Garner, Jr. |   |
|   |                                | Name:      Curtis L. Garner, Jr. |   |
|   |                                | Title:      Vice President |   |
|   |                                |   |   |
|   | MID-MAINE      TELPLUS              |
|   | (As      Existing Guarantor)        |
|   |                                |   |   |
|   | By:                                 | /s/      Curtis L. Garner, Jr. |   |
|   |                                | Name:      Curtis L. Garner, Jr. |   |
|   |                                | Title:      Vice President |   |
|   |                                |   |   |
|   | MID-MISSOURI      HOLDING CORP.     |
|   | (As      Existing Guarantor)        |
|   |                                |   |   |
|   | By:                                 | /s/      Curtis L. Garner, Jr. |   |
|   |                                | Name:      Curtis L. Garner, Jr. |   |
|   |                                | Title:      Chief Financial Officer |   |
|   |                                |   |   |
|   | OTELCO      TELECOMMUNICATIONS LLC  |
|   | (As      Existing Guarantor)        |
|   |                                |   |   |
|   | By:                                 | /s/      Curtis L. Garner, Jr. |   |
|   |                                | Name:      Curtis L. Garner, Jr. |   |
|   |                                | Title:      Chief Financial Officer |   |
|   |                                |   |   |
|   | OTELCO      TELEPHONE LLC           |
|   | (As      Existing Guarantor)        |
|   |                                |   |   |
|   | By:                                 | /s/      Curtis L. Garner, Jr. |   |
|   |                                | Name:      Curtis L. Garner, Jr. |   |
|   |                                | Title:      Chief Financial Officer |   |

----

|   | PAGE      & KISER COMMUNICATIONS, INC.              |
|--------|---------------------------------------------------------|
|   | (As      Existing Guarantor)                            |
|   |                                                    |   |   |
|   | By:                                                     | /s/      Curtis L. Garner, Jr. |   |
|   |                                                    | Name:      Curtis L. Garner, Jr. |   |
|   |                                                    | Title:      Chief Financial Officer |   |
|   |                                                    |   |   |
|   | WELLS      FARGO BANK, NATIONAL ASSOCIATION, AS TRUSTEE |
|   |                                                    |   |   |
|   | By:                                                     | /s/      Raymond Delli Colli |   |
|   |                                                    | Name:      Raymond Delli Colli |   |
|   |                                                    | Title:      Vice President |   |