Document:

Exhibit
10.7

 

AMENDMENT
AGREEMENT

 

This
Amendment Agreement (this "Agreement"), dated as of May 23, 2016, is made by and between JGB (Cayman) Waltham
Ltd. (the "JGB Waltham"), JGB (Cayman) Concord Ltd. (“JGB Concord”), InterCloud Systems, Inc.,
a Delaware corporation (the "Company"), and VaultLogix, LLC, a Delaware limited liability company (“VaultLogix”
and together with the Company, the “Borrowers”).

 

WHEREAS,
JGB Waltham is the holder of the Second Amended and Restated Senior Secured Convertible Debenture due May 31, 2019, in the original
principal amount of $7,500,000 (as may be subsequently amended, amended and restated, supplemented or otherwise modified from
time to time in accordance with its provisions, the “December Debenture”) and 0.67% Senior Secured Note due
May 31, 2019, in the original principal amount of $2,745,000 (the “December Note”);

 

WHEREAS,
the December Debenture was originally issued pursuant to that certain Securities Purchase Agreement dated as of December 29, 2015,
by and among JGB Waltham and the Company (as the same may be amended, amended and restated, supplemented or otherwise modified
from time to time in accordance with its provisions, the "Securities Purchase Agreement") and the December Note
is deemed issued pursuant to the Securities Purchase Agreement;

 

WHEREAS,
the outstanding principal balance owed by the Company to JGB Waltham under the December Debenture is $6,100,000 and the outstanding
principal balance owed by Company to JGB Waltham under the December Note is $2,745,000;

 

WHEREAS,
the Company’s obligations under the December Debenture, the December Note and the other Transaction Documents (as defined
in the Securities Purchase Agreement) are unconditionally guaranteed by each of the entities executing the guarantor acknowledgment
attached hereto (collectively, the “Guarantors” and each a “Guarantor”) pursuant to a Subsidiary
Guaranty (the “December Subsidiary Guaranty”);

 

WHEREAS,
as security for all of the indebtedness and obligations due to JGB Waltham under the December Debenture and the December Note
and the other Transaction Documents (collectively, the "December Obligations"), Company and the Guarantors executed
and delivered to JGB Waltham a certain Security Agreement dated as of December 29, 2015 (as the same may be amended, amended and
restated, supplemented or otherwise modified from time to time in accordance with its provisions, the "December Security
Agreement"), granting to JGB Waltham a security interest in the collateral, as defined in the December Security Agreement
(the "December Security Agreement Collateral");

 

WHEREAS,
the Company and JGB Waltham entered into a Forbearance and Amendment Agreement, dated May 17, 2016, with respect to certain existing
events of default under the December Debenture (the “December Debenture Forbearance Agreement”);

 

     

     

    

 

WHEREAS,
JGB Concord is the holder of the Amended and Restated Senior Secured Convertible Note due May 31, 2019, in the original principal
amount of $11,601,054.62 made by the Company and VaultLogix, as co-borrowers (as may be subsequently amended, amended and restated,
supplemented or otherwise modified from time to time in accordance with its provisions, the “February Convertible Note”)
and 0.67% Senior Secured Note due May 31, 2019, in the original principal amount of $5,220,475 made by the Company and VaultLogix,
as co-borrowers (the “February Note” and collectively with the December Debenture, December Note and February
Convertible Note, the “JGB Notes”);

 

WHEREAS,
the outstanding principal balance owed by the Company to JGB Concord under the February Convertible Note is $11,601,054.62 and
the outstanding principal balance owed by Company to JGB Concord under the February Note is $5,220,475;

 

WHEREAS,
the February Convertible Note was issued pursuant to the Securities Exchange Agreement dated as of February 18, 2016 (as the same
may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its provisions,
the "Securities Exchange Agreement"), by and among JGB Concord, VaultLogix and the Company, and the February
Note is deemed issued pursuant to the Securities Exchange Agreement;

 

WHEREAS,
as security for all of the indebtedness and obligations due to JGB Concord under the February Convertible Note, the February Note
and the other Operative Documents (as defined in the Securities Exchange Agreement) (collectively, the "February Obligations"),
VaultLogix executed and delivered to JGB Concord a certain Security Agreement dated as of February 18, 2016 (as the same may be
amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its provisions, the "February
Security Agreement"), granting to JGB Concord a security interest in the collateral, as defined in the February Security
Agreement (the "February Security Agreement Collateral" and together with the December Security Agreement Collateral,
the “Collateral”);

 

WHEREAS,
the Borrowers and JGB Concord entered into a Forbearance and Amendment Agreement, dated May 17, 2016, with respect to certain
existing events of default under the February Convertible Note (the “February Convertible Note Forbearance Agreement”);

 

WHEREAS,
the Company has requested (i) that JGB Waltham, on the date of this Agreement, cause an amount in cash equal to $172,000 to be
withdrawn from the Blocked Account (as defined in the December Debenture) to be made available to the Company, (ii) that JGB Concord,
on the date of this Agreement, cause an amount in cash equal to $328,000 to be withdrawn from the Deposit Account (as defined
in the February Convertible Note) to be made available to VaultLogix and the Company, and (iii) that the Company, VaultLogix,
JGB Concord and JGB Waltham establish a protocol for future withdrawals of cash from the Blocked Account and the Deposit Account;
and

 

    	 	2	 

     

    

 

WHEREAS,
in consideration of the aforementioned withdrawals, (i) VaultLogix has agreed to enter into a joinder agreement to the December
Security Agreement and the December Subsidiary Guaranty (the “December Joinders”) each joinder agreement in
a form acceptable to JGB Waltham, and (ii) the Guarantors have agreed to enter into a guaranty in a form acceptable to JGB Concord
(the “February Subsidiary Guaranty”) whereby they will guarantee all indebtedness and other obligations due
to JGB Concord under the February Convertible Note and the February Note and each Guarantor and InterCloud will execute a joinder
agreement to the February Security Agreement in a form acceptable to JGB Concord (the “February Security Joinder”);

 

NOW,
THEREFORE, in consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

1.         Acknowledgments
with respect to the December Debenture and December Note. The
Company and the Guarantors acknowledge and agree that:

 

1.1         Transaction
Documents. The December Debenture,
the December Note, the Securities Purchase Agreement, the December Subsidiary Guaranty, the December Security Agreement, the December
Forbearance Agreement, and the other Transaction Documents and all other agreements, instruments and other documents executed
in connection with or relating to the December Obligations or the December Security Agreement Collateral (the "December
Debenture Documents") are legal, valid, binding and enforceable against the Company and Guarantors in accordance with
their terms.

 

1.2         Obligations.
The December Obligations are not subject to any setoff, deduction, claim, counterclaim or defenses of any kind or character whatsoever.

 

1.3         Collateral.
JGB Waltham has valid, enforceable and perfected security interests in and liens on the December Security Agreement Collateral,
as to which there are no setoffs, deductions, claims, counterclaims or defenses of any kind or character whatsoever.

 

2.         Acknowledgments
with respect to the February Convertible Note and February Note. The
Company and VaultLogix (together, the “Borrowers”) acknowledge and agree that:

 

2.1         Transaction
Documents. The February Convertible
Note, the February Note, the Securities Exchange Agreement, the February Security Agreement, the February Forbearance Agreement,
and the other Operative Documents and all other agreements, instruments and other documents executed in connection with or relating
to the February Obligations or the February Security Agreement Collateral (the "February Note Documents")
are legal, valid, binding and enforceable against the Borrowers in accordance with their terms.

 

    	 	3	 

     

    

 

2.2         Obligations.
The February Obligations are not subject to any setoff, deduction, claim, counterclaim or defenses of any kind or character whatsoever.

 

2.3         Collateral.
JGB Concord has valid, enforceable and perfected security interests in and liens on the February Security Agreement Collateral,
as to which there are no setoffs, deductions, claims, counterclaims or defenses of any kind or character whatsoever.

 

3.         Withdrawal
of Cash.

 

3.1         On
the Effective Date, JGB Waltham shall deliver instructions to PNC Bank, National Association (the “Bank”) in
accordance with the Blocked Account Agreement (as defined in the December Debenture) to deliver immediately available funds in
amount equal to $172,000 from the Blocked Account to the account of the Company set forth on Schedule A attached hereto
(the “Company Account”).

 

3.2         On
the Effective Date, JGB Concord shall deliver instructions to the Bank in accordance with the Deposit Account Agreement (as defined
in the February Convertible Note) to deliver immediately available funds in amount equal to $328,000 from the Deposit Account
to the Company Account.

 

3.3         At
any time, and from time to time, after the Effective Date, the Company may deliver one or more written notices (each a “Release
Request”) to JGB Concord and JGB Waltham (together, “JGB”) requesting the release of funds from the
Blocked Account and/or the Deposit Account, which notice shall state the amount requested to be released (the “Requested
Amount”); provided, however, the Requested Amount shall be multiples of $100,000. In addition, the Company will not
deliver a Release Request within the first five (5) Trading Days immediately after JGB Waltham has delivered a Notice of Conversion
(as defined in the December Debenture) to the Company under the December Debenture or JGB Concord has delivered a Notice of Conversion
(as defined in the February Convertible Note) to the Borrowers under the February Convertible Note. In further addition, the Release
Request shall not contain any material, non-public information. Upon receipt of a Release Request, JGB may, in their sole and
absolute discretion, cause the Bank to release the Requested Amount, or such other amount determined by JGB in its sole and absolute
discretion, from the Blocked Account, the Deposit Account or a combination of both accounts, in JGB’s sole discretion. JGB
shall respond to any Release Request (whether or not JGB determines to grant such request) within five (5) Trading Days of its
receipt thereof. In its sole discretion, JGB may release, at any time, and from time to time, up to an aggregate of $3,000,000
from Blocked Account, the Deposit Account or a combination of both accounts, whether or not the Company has made any Release Request
(other than during the period from August 15, 2016 to August 20, 2016, unless the Company has provided written approval of such
withdrawal). For the avoidance of doubt, JGB shall be under no obligation to grant any Release Request or otherwise release any
funds from the Deposit Account or the Blocked Account, except as provided in Section 3.1 and Section 3.2. For the further avoidance
of doubt, JGB may condition its acceptance of any Release Request upon the Company’s agreement to publicly announce the
release of the Requested Amount from the Blocked Account and/or Deposit Account, as the case may be, and any other information
or details related thereto.

 

    	 	4	 

     

    

 

4.         Amendments
to the JGB Notes; Reconfirmations; Joinders.

 

4.1         Amendment
to the December Debenture.

 

(a)         The
December Debenture is hereby amended, effective on the Effective Date, by replacing the reference to “0.67%” in the
definition of “Applicable Interest Rate” with “1.67%”.

 

(b)         In
addition, to the extent that, after the date hereof, JGB grants any Release Request or otherwise releases any funds in accordance
with Section 3.3 of this Agreement, then in such event the December Debenture shall be amended by increasing the Applicable Interest
Rate by 0.20 percentage points for each $100,000 in the aggregate released from the Blocked Account and/or the Deposit Account
pursuant to Section 3.3. Any such amendment to the December Debenture shall take effect on the first day of the month immediately
following the month in which such release of funds occurred. Notwithstanding the foregoing, in no event shall any amendment to
the December Debentures cause the Applicable Interest Rate to exceed 6%.

 

4.2         Amendment
to the December Note.

 

(a)         The
December Note is hereby amended, effective on the Effective Date, by replacing the reference to “0.67%” in Section
1(b) thereof with “1.67%”.

 

(b)         In
addition, to the extent that, after the date hereof, JGB grants any Release Request or otherwise releases any funds in accordance
with Section 3.3 of this Agreement, then in such event the December Note shall be amended by increasing the annual rate of interest
by 0.20 percentage points for each $100,000 in the aggregate released from the Blocked Account and/or the Deposit Account pursuant
to Section 3.3. Any such amendment to the December Note shall take effect on the first day of the month immediately following
the month in which such release of funds occurred. Notwithstanding the foregoing, in no event shall any amendment to the December
Notes cause the Applicable Interest Rate to exceed 6%.

 

4.3         Amendment
to the February Convertible Note.

 

(a)         The
February Convertible Note is hereby amended, effective on the Effective Date, by replacing the reference to “0.67%”
in the definition of “Applicable Interest Rate” with “1.67%”.

 

    	 	5	 

     

    

 

(b)         In
addition, to the extent that, after the date hereof, JGB grants any Release Request or otherwise releases any funds in accordance
with Section 3.3 of this Agreement, then in such event the February Convertible Note shall be amended by increasing the Applicable
Interest Rate by 0.20 percentage points for each $100,000 in the aggregate released from the Blocked Account and/or the Deposit
Account pursuant to Section 3.3. Any such amendment to the February Convertible Note shall take effect on the first day of the
month immediately following the month in which such release of funds occurred. Notwithstanding the foregoing, in no event shall
any amendment to the February Convertible Note cause the Applicable Interest Rate to exceed 6%.

 

4.4         Amendment
to the February Note.

 

(a)         The
February Note is hereby amended, effective on the Effective Date, by replacing the reference to “0.67%” in Section
1(b) thereof with “1.67%”.

 

(b)         In
addition, to the extent that, after the date hereof, JGB grants any Release Request or otherwise releases any funds in accordance
with Section 3.3 of this Agreement, then in such event the February Note shall be amended by increasing the annual rate of interest
by 0.20 percentage points for each $100,000 in the aggregate released from the Blocked Account and/or the Deposit Account pursuant
to Section 3.3. Any such amendment to the Febuary Note shall take effect on the first day of the month immediately following the
month in which such release of funds occurred. Notwithstanding the foregoing, in no event shall any amendment to the February
Notes cause the Applicable Interest Rate to exceed 6%.

 

4.5         Illustrative
Example. It is the intent of the parties that for each $100,000 in the aggregate that is released from the Deposit Account
and/or the Block Account the annual rate of interest on each JGB Note shall increase by 0.20 percentage points. For example and
illustrative purposes, if (A) on December 1, 2016, the annual rate of interest in effect under each JGB Note is 1.67%, and (B)
on December 2, 2016, $50,000 is released from the Deposit Account pursuant to Section 3.3 and $50,000 is released from the Blocked
Account pursuant to Section 3.3, then on January 1, 2017, the annual rate of interest on each JGB Note shall be 1.87% (e.g., an
increase of 0.20 percentage points).

 

4.6         Reduction
in Interest Rate. To the extent that at the close of business on August 20, 2016, the balance of the Deposit Account is equal
to or greater than $12,190,054.62 (or such lesser amount required to be on deposit in the Deposit Account under the February Convertible
Note) and the balance of the Blocked Account is equal to or greater than $4,000,000 (or such lesser amount required to be on deposit
in the Blocked Account under the December Debenture), in each case, as a result of deposits of funds to each such account by a
Borrower, at such Borrower’s option, then the rate of interest in effect on each JGB Note shall be 1.17%; provided, there
shall be no reduction in any default rate of interest specified in a JGB Note (regardless of whether or not such default rate
is in effect at such time). For the avoidance of doubt, to the extent of any release of funds subsequent to August 20, 2016, pursuant
to Section 3.3, the rate of interest for each JGB Note shall be increased as provided in Sections 4.1 through 4.4. For the avoidance
of doubt, the Borrowers are under no obligation to return any funds released pursuant to Section 3 to the Blocked Account or Deposit
Account.

 

    	 	6	 

     

    

 

4.7         Calculation
of Interest. JGB’s calculation of the rate of interest in effect under each JGB Note shall be final and binding on the
Borrowers absent manifest error and the Company shall certify in writing the rate of interest in effect under each JGB Note upon
JGB’s request.

 

4.8         Reconfirmation
of Liens and Security Interest. Nothing herein shall impair or limit the continuation of the liens and security interests
granted to JGB Waltham under the December Security Agreement, the other Security Documents (as defined in the Securities Purchase
Agreement), pursuant to the Consent, dated March 9, 2016, by and among the Company and JGB Waltham, the December Forbearance Agreement
or any deposit account control agreement with any depositary bank (collectively, the “December Security Instruments”),
which liens are continued in full force and effect pursuant to and as provided therein, and which liens secure all December Obligations.
For the avoidance of doubt, the Company and each Guarantor agrees that all references to the “Obligations” in any
Security Instrument include the December Note and the December Debenture as amended hereby and that reference to the “Debenture”
in any December Security Instrument means the December Debenture and the December Note as amended hereby. The Company and each
Guarantor acknowledges the continuing existence and priority of all liens and security interests granted, conveyed, and assigned
pursuant to the December Security Instruments to which it is a party, in accordance with such instruments, and agrees to perform
such acts and duly authorize, execute, acknowledge, deliver, file, and record such additional documents and certificates as JGB
Waltham requests in order to perfect, preserve, and protect such liens and security interests.

 

4.9         Reconfirmation
of Guarantees. Each Guarantor acknowledges the amendment of the December Debenture and the December Note pursuant to this
Agreement and ratifies and confirms that the December Subsidiary Guaranty executed by such Guarantor is not released, diminished,
impaired, reduced, or otherwise adversely affected by such amendment and continues to guarantee and assure the full payment and
performance of all present and future obligations under the December Debenture, the December Note and the other December Debenture
Documents. For the avoidance of doubt, the Company and each Guarantor agrees that all references to the “Indebtedness”
in the December Subsidiary Guaranty include the December Note and the December Debenture as amended hereby and that reference
to the “Debenture” in the December Subsidiary Guaranty means the December Debenture and the December Note as amended
hereby.

 

    	 	7	 

     

    

 

4.10       Joinders.

 

(a)         By
its execution of the December Joinders, VaultLogix intends to, and does, unconditionally guaranty the December Obligations, including,
without limitation, all indebtedness and Obligations under the December Debenture and the December Note, in accordance with the
terms of the December Subsidiary Guaranty and pledge all of its assets as security for the December Obligations.

 

(b)         By
its execution of the February Subsidiary Guaranty and February Security Joinder, each Guarantor intends to, and does, unconditionally
guaranty the February Obligations, including, without limitation, all indebtedness and Obligations under the February Convertible
Note and the February Note, in accordance with the terms of the February Subsidiary Guaranty and pledge all of its assets as security
for the February Obligations in accordance with the February Security Agreement.

 

(c)         By
its execution of the February Security Joinder, the Company intends to, and does, unconditionally pledge all of its assets as
security for the February Obligations, including, without limitation, all indebtedness and Obligations under the February Convertible
Note and the February Note, in accordance with the February Security Agreement.

 

4.11         Certain
Collateral. JGB Concord agrees to hold or control that part of the Collateral that is in its possession or control, including
any deposit accounts, to the extent that possession or control thereof is taken to perfect a lien thereon under the Uniform Commercial
Code or other applicable law, as an agent for JGB Waltham (such agency being intended, among other things, to satisfy the requirements
of Sections 8-301(a)(2), 9-104, 9-105, 9-106, and 9-107 of the Uniform Commercial Code), for the purpose of perfecting the security
interest granted under the December Security Instruments or the February Security Agreement, as applicable. JGB Waltham agrees
to hold or control that part of the Collateral that is in its possession or control, including any deposit accounts, to the extent
that possession or control thereof is taken to perfect a lien thereon under the Uniform Commercial Code or other applicable law,
as an agent for JGB Concord (such agency being intended, among other things, to satisfy the requirements of Sections 8-301(a)(2),
9-104, 9-105, 9-106, and 9-107 of the UCC), for the purpose of perfecting the security interest granted under the December Security
Instruments or the February Security Agreement, as applicable. The Borrowers and Guarantors acknowledge the foregoing.

 

5.         Conditions
Precedent. This Agreement shall not become effective unless and until the date (the "Effective
Date") that each of the following conditions shall have been satisfied in JGB’s sole discretion, unless
waived in writing by JGB:

 

5.1         Delivery
of this Agreement. The Borrowers and each Guarantor shall have delivered or caused to be delivered a duly executed copy of
this Agreement.

 

    	 	8	 

     

    

 

5.2         Delivery
of Joinders. Each Guarantor shall have delivered a duly executed copy of the February Subsidiary Guaranty and each Borrower
and each Guarantor shall have delivered a duly executed copy of each joinder agreement referred to in Section 4.10.

 

6.         Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the Borrowers and JGB, and each of their respective
successors and assigns.

 

7.         Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. The parties
agree that the state and federal courts located in New York County, New York shall have exclusive jurisdiction over any action,
proceeding or dispute arising out of this Agreement and the parties submit to the personal jurisdiction of such courts.

 

8.         No
Modification. Except as expressly set forth herein, the JGB Notes, December Debenture Documents and February Note Documents
remain unmodified and in full force effect. This Agreement is a Transaction Document and an Operative Document.

 

9.         Counterparts.
This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same agreement, and any
party hereto may execute this Agreement by signing and delivering one or more counterparts. Delivery of an executed counterpart
of this Agreement electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Agreement.

 

10.         Disclosure.
Company confirms that neither it nor any other person or entity acting on its behalf has provided JGB or its counsel with any
information that constitutes or might constitute material, nonpublic information. The Company will disclose the material terms
of this Agreement and the transactions contemplated hereby by not later than 5:30 p.m. on May 23, 2016, or such earlier time as
may be required by law, by means of a Current Report on Form 8-K filed with the Securities and Exchange Commission. Such Current
Report on Form 8-K shall include as exhibits this Agreement, the A&R Debenture, and any other material agreement related to
the foregoing. The Current Report on Form 8-K shall be subject to the prior review and comment of JGB. From and after the filing
of the Current Report on Form 8-K with the SEC, the Company acknowledges and agrees that JGB shall not be in possession of any
material, nonpublic information received from the Company, any Guarantor or any of their respective officers, directors, employees
or agents.

 

    	 	9	 

     

    

 

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

 

	InterCloud
    Systems, Inc.	 
	 	 	 
	By	                             	 
	Name:	 	 
	Title:	 	 
	 	 	 
	VaultLogix,
    LLC	 
	 	 	 
	By	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	JGB
    (Cayman) Waltham Ltd.	 
	 	 	 
	By	 	 
	Name:	Brett
    Cohen	 
	Title:	President 	 
	 	 	 
	JGB
    (Cayman) Concord Ltd.	 
	 	 	 
	By	 	 
	Name:	Brett
    Cohen	 
	Title:	President	 

 

    	 	10	 

     

    

 

ACKNOWLEDGED:

 

	T
    N S, INC. 	 	INTEGRATION
    PARTNERS – NY CORPORATION
	 	 	 
	By:	                                  	 	By:
	                                
	

        Name:
	 	 	Name:
	 
	Its:	 	 	Its: 	 
	 	 	 	 	 
	ADEX
    CORPORATION	 	AW
    SOLUTIONS, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its: 	 	 	Its: 	 
	 	 	 	 	 
	RENTVM
    INC.	 	ADEX
    PUERTO RICO LLC
	 	 	 
	By:
	 	 	By:
	 
	Name:	 	 	Name:	 
	Its: 	 	 	Its:   	 
	 	 	 	 	 
	ADEXCOMM
    CORPORATION	 	TROPICAL
    COMMUNICATIONS, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 
	 	 	 	 	 
	AW
    SOLUTIONS PUERTO RICO, LLC	 	RIVES
    MONTEIRO LEASING, LLC
	 	 	 
	By:	 	 	By:
    	 
	Name:
	 	 	Name:	
	Its: 	 	 	Its:	 
	 	 	 	 	 
	RIVES
    MONTEIRO ENGINEERING, LLC	 	NOTTINGHAM
    ENTERPRISES, LLC
	 	 	 
	By:
    	 	 	By:	 
	Name:		 	Name:	
	Its:
	 	 	Its:  	 

 

[GUARANTOR ACKNOWLEDGEMENT TO AMENDMENT AGREEMENT
DATED MAY 23, 2016].

 

11Exhibit
10.8

 

ADDITIONAL
DEBTOR JOINDER

 

May
23, 2016

 

Security
Agreement dated as of February 18, 2016 made by

VaultLogix,
LLC, as Debtor

to
and in favor of

the
Secured Party identified therein (the “Security Agreement”)

 

Reference
is made to the Security Agreement as defined above; capitalized terms used herein and not otherwise defined herein shall have
the meanings given to such terms in, or by reference in, the Security Agreement.

 

Each
of the undersigned hereby agrees that upon delivery of this Additional Debtor Joinder to the Secured Party referred to above,
such undersigned shall (a) be an Additional Debtor under the Security Agreement, (b) have all the rights and obligations of the
Debtor under the Security Agreement as fully and to the same extent as if the undersigned was an original signatory thereto and
(c) be deemed to have made the representations and warranties set forth therein as of the date of execution and delivery of this
Additional Debtor Joinder. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EACH OF THE UNDERSIGNED SPECIFICALLY GRANTS TO THE
SECURED PARTY A SECURITY INTEREST IN THE COLLATERAL AS MORE FULLY SET FORTH IN THE SECURITY AGREEMENT AND ACKNOWLEDGES AND AGREES
TO THE WAIVER OF JURY TRIAL PROVISIONS SET FORTH THEREIN.

 

Each
of the undersigned acknowledges the Forbearance and Amendment Agreement, dated May 17, 2016, by and between InterCloud Systems,
Inc., VaultLogix, LLC and the Secured Party (the “Forbearance Agreement”), and acknowledges and agrees that
all references to the “Obligations” in the Security Agreement includes the A&R Note and the Senior Secured Note
(each as defined in the Forbearance Agreement).

 

Attached
hereto are supplemental and/or replacement Schedules to the Security Agreement, as applicable.

 

An
executed copy of this Joinder shall be delivered to the Secured Party, and the Secured Party may rely on the matters set forth
herein on or after the date hereof. This Joinder shall not be modified, amended or terminated without the prior written consent
of the Secured Party.

 

			

    	 	1	 

     

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Joinder to be executed in the name and on behalf of the undersigned on the day
and year first above written.

 

INTERCLOUD
SYSTEMS, INC.

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

T
N S, INC.

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

INTEGRATION
PARTNERS – NY CORPORATION

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

ADEX
CORPORATION

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

AW
SOLUTIONS, INC.

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

    	 	2	 

     

    

 

RENTVM
INC. 

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

ADEX
PUERTO RICO LLC

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

ADEXCOMM
CORPORATION

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

TROPICAL
COMMUNICATIONS, INC.

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

AW
SOLUTIONS PUERTO RICO, LLC

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

RIVES
MONTEIRO LEASING, LLC

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

RIVES
MONTEIRO ENGINEERING, LLC

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

NOTTINGHAM
ENTERPRISES, LLC

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

    	 	3	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
A

Locations
of Books of Account, Records and Collateral

 

	Entity	 	Address	 	City	 	State	 	 	Zip	 	 	Leased	 	 	Occupancy*
	ADEX	 	1035 Windward Ridge Pkwy	 	Alpharetta	 	 	GA	 	 	 	30005	 	 	 	Yes	 	 	Office
	ADEX	 	1317 W Foothill Blvd, Ste 212	 	Upland	 	 	CA	 	 	 	91786	 	 	 	 	 	 	Office
	ADEX	 	280 Shuman Blvd, Ste 185	 	Naperville	 	 	IL	 	 	 	60563	 	 	 	Yes	 	 	Office
	ADEX	 	13089 N Telecom Pkwy	 	Tampa	 	 	FL	 	 	 	33637	 	 	 	Yes	 	 	Office
	ADEX	 	1701 W Northwest Hwy, Suite 100	 	Grapevine	 	 	TX	 	 	 	76051	 	 	 	Yes	 	 	Office
	AWS	 	300,320,330,340,380, 230, 260 Crown Oak Centre Dr	 	Longwood	 	 	FL	 	 	 	32750	 	 	 	Yes	 	 	Office
	AWS	 	AA-1 Calle 22 Riverview, Bayamon	 	Puerto Rico	 	 	PR	 	 	 	00961	 	 	 	Yes	 	 	Office
	AWS	 	2332 Ivy Mountain Drive	 	Snellville	 	 	GA 	 	 	 	30078	 	 	 	Yes	 	 	Home Office
	AWS	 	320 31 St Avenue North	 	Nashville	 	 	TN	 	 	 	37203	 	 	 	Yes	 	 	Office
	AWS	 	260 Gateway Drive, Suite 17-18C	 	Bel Air	 	 	MD	 	 	 	21014	 	 	 	Yes	 	 	Office
	AWS/ICLD	 	980 N. Federal Highway, Suite 304	 	Boca Raton	 	 	FL	 	 	 	33432	 	 	 	Yes	 	 	Office
	Tropical	 	6995 NW 82nd Ave #32	 	Miami	 	 	FL	 	 	 	33166	 	 	 	Yes	 	 	Office/Warehouse
	Tropical	 	6937 NW 82nd Ave #32	 	Miami	 	 	FL	 	 	 	33168	 	 	 	Yes	 	 	Office
	IPC NY	 	1719 Route 10 East, Suite 126	 	Parsippany	 	 	NJ	 	 	 	07054	 	 	 	Yes	 	 	Office/Warehouse
	TNS	 	1225 Rand Road	 	Des Plaines	 	 	IL	 	 	 	60016	 	 	 	Yes	 	 	Office
	RME	 	2736 Southside Drive	 	Tuscaloosa	 	 	AL	 	 	 	35401	 	 	 	Yes	 	 	Office/Warehouse
	ICLD (HQ)	 	1030 Broad Street, Suite 102	 	Shrewsbury	 	 	NJ	 	 	 	7722	 	 	 	Yes	 	 	Office
	ICLD	 	3356 Garden Brook Drive	 	Dallas	 	 	TX	 	 	 	75234	 	 	 	Yes	 	 	Warehouse
	VaultLogix	 	34 Saint Martin Dr	 	Marlborough	 	 	MA	 	 	 	01752	 	 	 	Yes	 	 	 
	VaultLogix	 	74 West Street	 	Waltham	 	 	MA	 	 	 	02451	 	 	 	Yes	 	 	 
	VaultLogix	 	75 Sylvan Street	 	Danvers	 	 	MA	 	 	 	01923	 	 	 	Yes	 	 	 
	VaultLogix	 	211-213 E Thomas St	 	Hammond	 	 	LA	 	 	 	70401	 	 	 	Yes	 	 	 
	Logical Link	 	1909 Central Drive Suite 205	 	Bedford	 	 	Texas	 	 	 	76021	 	 	 	Yes	 	 	Leased Space
	Logical Link	 	1706 Highway 84 East Suite B	 	Brookhaven	 	 	Mississippi	 	 	 	39601	 	 	 	Yes	 	 	Leased Space

 

    	 	4	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
B

Liens

 

Entity;
Secured Party (Financing Statement Filing #)

 

InterCloud
Systems, Inc.

		1.	Jenne,
                                         Inc. (#20145151535; 20144642765)

		2.	Faunus
                                         Group International, Inc. (#20151179992)

		3.	JGB
                                         (Cayman) Waltham Ltd. (#20156311608)

 

Tropical
Communications, Inc.

		1.	Faunus
                                         Group International, Inc. (#201503310351)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#201506112712)

 

Rives-Monteiro
Engineering, LLC

		1.	Capstone
                                         Bank (#09-0382491; 11-0430615)

		2.	Faunus
                                         Group International, Inc. (#15-7178774)

		3.	JGB
                                         (Cayman) Waltham Ltd. (#15-0681444)

 

Rives-Monteiro
Leasing, LLC

		1.	Faunus
                                         Group International, Inc. (#15-7178807)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#15-0681438)

 

T
N S, Inc.

		1.	Faunus
                                         Group International, Inc. (#020146028)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#020984163)

 

ADEX
Corporation

		1.	Faunus
                                         Group International, Inc. (#201503205286238)

		2.	Lease
                                         Corporation of America (#201505225560151)

		3.	JGB
                                         (Cayman) Waltham Ltd. (#201512310677993)

 

ADEXCOMM
Corporation

		1.	Faunus
                                         Group International, Inc. (#20150331036X)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#201506112704)

 

ADEX
Puerto Rico LLC

		1.	Faunus
                                         Group International, Inc. (#2015001884)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#[______])

 

AW
Solutions, Inc.

		1.	Faunus
                                         Group International, Inc. (#201503310424)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#201506112690)

 

    	 	5	 

     

    

 

AW
Solutions Puerto Rico, LLC

		1.	Faunus
                                         Group International, Inc. (#2015001883)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#[______])

 

Integration
Partners – NY Corporation

		1.	Faunus
                                         Group International, Inc. (#51114572)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#51476861)

 

RentVM
Inc.

		1.	Faunus
                                         Group International, Inc. (#51114594)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#51476856)

 

Nottingham
Enterprises LLC

		1.	JGB
                                         (Cayman) Waltham Ltd. (#20151230021302060)

 

    	 	6	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
c

Filings
with Governmental or Regulatory Authorities, Agencies or Recording Offices;

UCC
Filing Jurisdictions 

 

Entity;
Secured Party (Financing Statement Filing #)

 

InterCloud
Systems, Inc.

		1.	Jenne,
                                         Inc. (#20145151535; 20144642765)

		2.	Faunus
                                         Group International, Inc. (#20151179992)

		3.	JGB
                                         (Cayman) Waltham Ltd. (#20156311608)

 

Tropical
Communications, Inc.

		1.	Faunus
                                         Group International, Inc. (#201503310351)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#201506112712)

 

Rives-Monteiro
Engineering, LLC

		1.	Capstone
                                         Bank (#09-0382491; 11-0430615)

		2.	Faunus
                                         Group International, Inc. (#15-7178774)

		3.	JGB
                                         (Cayman) Waltham Ltd. (#15-0681444)

 

Rives-Monteiro
Leasing, LLC

		1.	Faunus
                                         Group International, Inc. (#15-7178807)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#15-0681438)

 

T
N S, Inc.

		1.	Faunus
                                         Group International, Inc. (#020146028)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#020984163)

 

ADEX
Corporation

		1.	Faunus
                                         Group International, Inc. (#201503205286238)

		2.	Lease
                                         Corporation of America (#201505225560151)

		3.	JGB
                                         (Cayman) Waltham Ltd. (#201512310677993)

 

ADEXCOMM
Corporation

		1.	Faunus
                                         Group International, Inc. (#20150331036X)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#201506112704)

 

ADEX
Puerto Rico LLC

		1.	Faunus
                                         Group International, Inc. (#2015001884)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#[______])

 

AW
Solutions, Inc.

		1.	Faunus
                                         Group International, Inc. (#201503310424)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#201506112690)

 

    	 	7	 

     

    

 

AW
Solutions Puerto Rico, LLC

		1.	Faunus
                                         Group International, Inc. (#2015001883)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#[______])

 

Integration
Partners – NY Corporation

		1.	Faunus
                                         Group International, Inc. (#51114572)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#51476861)

 

RentVM
Inc.

		1.	Faunus
                                         Group International, Inc. (#51114594)

		2.	JGB
                                         (Cayman) Waltham Ltd. (#51476856)

 

Nottingham
Enterprises LLC

		1.	JGB
                                         (Cayman) Waltham Ltd. (#20151230021302060)

 

UCC
Filing Jurisdictions

 

Alabama

Delaware

Florida

Illinois

New
Jersey

New
York

Oklahoma

Commonwealth
of Puerto Rico

 

    	 	8	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
D

Debtor
Name, Jurisdiction of Organization, 

Organizational
Identification Number and Address

 

InterCloud
Systems, Inc.; a Delaware corporation; Org. ID 3131825; 1030 Broad Street, Suite #102, Shrewsbury, NJ 07702

 

ADEX
Corporation; a New York corporation; Org. ID 1768085; 1035 Windward Ridge Pkwy, Alpharetta, GA 30005

 

ADEX
Puerto Rico LLC; a Puerto Rico limited liability company; Org. ID 1067; 1035 Windward Ridge Pkwy, Alpharetta, GA 30005

 

ADEXCOMM
Corporation; a Florida corporation; Org. ID P13000017150; 1035 Windward Ridge Pkwy, Alpharetta, GA 30005

 

AW
Solutions, Inc.; a Florida corporation; Org. ID P06000054864; 300 Crown Oak Centre Drive, Longwood, FL 32750

 

AW
Solutions Puerto Rico, LLC; a Puerto Rico limited liability company; Org. ID 3123; AA-1 Calle 22 Riverview, Bayamon, Puerto Rico
00961

 

Rives-Monteiro
Engineering, LLC; an Alabama limited liability company; Org. ID 416-995; 2736 Southside Drive, Tuscaloosa, AL 35401

 

Rives-Monteiro
Leasing, LLC; an Alabama limited liability company; Org. ID 661-122; 2736 Southside Drive, Tuscaloosa, AL 35401

 

T
N S, Inc.; an Illinois corporation; Org. ID 62331666; 1225 Rand Road, Des Plaines, IL 60016

 

Tropical
Communications, Inc.; a Florida corporation; Org. ID M00345; 6937 NW 82nd Ave #32, Miami, FL 33166

 

Integration
Partners-NY Corporation; a New Jersey corporation; Org. ID 0400262952; 1030 Broad Street, Suite #102, Shrewsbury, NJ 07702

 

RentVM
Inc.; a New Jersey Corporation; Org. ID 0400485873; 1030 Broad Street, Suite #102, Shrewsbury, NJ 07702

 

Nottingham
Enterprises, LLC; an Oklahoma limited liability company (40% owned); Org. ID 3512228686; 5204 N Meadow Ridge Circle, McKinney,
TX 75070

 

    	 	9	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
E

Trade
Names; Mergers and Acquisitions

 

InterCloud
Systems, Inc., formerly Genesis Group Holdings, I-Realtyauction.com, Inc., and Genesis Realty Group, Inc.

 

ADEX
Corporation, acquired the assets of Broadview Holdings doing business as HighWire Communications

 

ADEX
Puerto Rico LLC

 

ADEXCOMM
Corporation

 

AW
Solutions, Inc., acquired the assets of FRJ, LLC which did business as Logical Link

 

AW
Solutions Puerto Rico, LLC

 

Rives-Monteiro
Engineering, LLC, has also done business as RME

 

Rives-Monteiro
Leasing, LLC

 

T
N S, Inc., also has done business as TelNet Solutions

 

Tropical
Communications, Inc.

 

Integration
Partners - NY Corporation, has also done business as IPC

 

RentVM

 

VaultLogix,
LLC, acquired the assets of PCS Holding LLC which did business as AXIM Cloud

 

Nottingham
Enterprise LLC

 

Data
Protection Services, LLC, also DPS

 

U.S.
Data Security Acquisition, LLC, also US Data Trust

 

    	 	10	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
F

Intellectual
Property

 

None.

 

    	 	11	 

     

    

 

SUPPLEMENT
TO

 

SCHEDULE
G

Account
Debtors

 

None.

 

    	 	12	 

     

    

 

SUPPLEMENT
TO

 

Schedule
H

Pledged
Securities

 

Rives-Monteiro
Leasing, LLC

100%
of membership interest owned by InterCloud Systems, Inc.

 

Tropical
Communications, Inc.

Shares
of Common Stock Outstanding: 100; 100% of Common Stock equity interests owned by InterCloud Systems, Inc.

 

ADEX
Corporation

Shares
of Common Stock Outstanding: 100; 100% of Common Stock equity interests owned by InterCloud Systems, Inc.

 

ADEXCOMM
Corporation

Shares
of Common Stock Outstanding: 10; 100% of Common Stock equity interests owned by InterCloud Systems, Inc.

 

ADEX
Puerto Rico LLC

100%
of membership interest owned by InterCloud Systems, Inc.

 

T
N S, Inc.

Shares
of Common Stock Outstanding: 1,000; 100% of Common Stock equity interests owned by InterCloud Systems, Inc.

 

AW
Solutions, Inc.

Shares
of Common Stock Outstanding: 5,000; 100% of Common Stock equity interests owned by InterCloud Systems, Inc.

 

AW
Solutions Puerto Rico, LLC

100%
of membership interest owned by InterCloud Systems, Inc.

 

Integration
Partners - NY Corporation

100%
of membership interest owned by InterCloud Systems, Inc.

RentVM
Inc.

Shares
of Common Stock authorized: 10,000; Outstanding: 10,000

100%
of Common Stock entity interests owned by InterCloud Systems, Inc.

 

Nottingham
Enterprises, LLC

40%
of membership interests owned by InterCloud Systems, Inc. 

 

    	 	13	 

     

    

 

SUPPLEMENT
TO

 

Schedule
I

Pledged
Accounts

 

PNC
Bank, National Association Accounts

 

Depository/Collection
Accounts

	 	Intercloud
    Systems	8026293856
	 	ADEX
    Puerto Rico	8026293848
	 	ADEX
    Corporation	8026293821
	 	AW
    Solutions, Inc.	8026293813
	 	Telnet
    Solutions, Inc.	8026293805
	 	Integration
    Partners Corporation NY	8026294111

 

Operating/Disbursement
Accounts

	 	Intercloud
    Systems	8026293725
	 	ADEX
    Puerto Rico	8026293717
	 	ADEX
    Corporation	8026293709
	 	AW
    Solutions, Inc.	8026293696
	 	Telnet
    Solutions, Inc.	8026293688
	 	Integration
    Partners Corporation NY	8026294103

 

Hapoalim
Bank

	 	ADEX
    Corporation	01080324-01
	 	ADEX
    Puerto Rico	108050601
	 	 	 
	Iberia
    Bank	 
	 	AW
    Solutions, Inc.	1092940405
	 	AW
    Solutions, Inc.	1092940416

 

Regions
Bank

	 	Broadview
    Technologies, Inc.	0186128892
	 	(DBA
    High Wire Networks)	 

 

 

14

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