Document:

-- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

January 7, 2011 

VIA HAND DELIVERY

Andrew Bressman 

14 Hoverman Road 

Old Tappan, NJ 07675 

     Re: 2nd Amendment to Separation Agreement

Dear Andrew:

This letter confirms our discussion, whereby Section 3 of that certain Separation Agreement, dated as of May 6, 2010, by and between us, as amended (the “Agreement”), is further amended as set forth below.

Section 3 of the Agreement shall be deleted in its entirety and replaced with the following: 

“3. Extension of Non Compete. Provided that the Employee executes this Agreement without revocation, the Company shall pay to the Employee, or his designee, (i) an
aggregate of Five Hundred Fifty-One Thousand Two Hundred and Fifty Dollars ($551,250) on or prior to March 15, 2011 (collectively, the “Lump Sum Payments”), and (ii) One Hundred Ninety-Eight Thousand Seven Hundred and Fifty Dollars
($198,750), in twelve substantially equal monthly installments, with the first payment being made on the thirtieth day of the month after the consummation of the Company’s currently contemplated initial public offering (the “IPO
Date”) (the “First Payment Date”), and each subsequent monthly payment being made on the monthly anniversary of the First Payment Date, as consideration for the extension of the “Restricted Period” set forth in Article V of
the Employment Agreement until June 11, 2015. It is intended that each installment of the payments provided for in clause (ii) in the preceding sentence shall be treated as a separate “payment” for purposes of Section 409A of the Internal
Revenue Code of 1986, as amended, and guidance issued thereunder, including Treas. Reg. § 1.409A -2(b) and Treas. Reg. § 1.409A -2(b)(2)(iii), and neither the Company nor Employee shall have the right to accelerate or defer the delivery of
such payments except to the extent specifically permitted or required by Code Section 409A.” 

In all other respects, the Agreement is hereby ratified, confirmed and approved, and all terms thereof shall remain in full force and effect 

Please sign where indicated below to acknowledge your acceptance of this amendment and restatement of Section 3 of the Agreement. 

			
	 	
      Very truly yours,	
	 	 	 	
	 	
      Wave2Wave Communications, Inc.	
	 	 	 	
	 	By: 	
/s/ Aaron Dobrinsky	
	 	 	Aaron Dobrinsky	
	 	 	CEO	

I HAVE READ THE ABOVE AMENDMENT TO SECTION 3 OF THE AGREEMENT AND I UNDERSTAND AND ACCEPT THIS 2nd AMENDMENT TO THE AGREEMENT. 

Accepted and Agreed to:

/s/ Andrew Bressman 

Andrew Bressman 

January 7, 2011          

Date 

 

2Exhibit 10.96

AMENDMENT TO CONSENT AGREEMENT AND
NOTE MODIFICATION

This AMENDMENT
TO CONSENT AGREEMENT AND NOTE MODIFICATION (the “Amendment”) is entered into as of January 11, 2011 by and
among RNK HOLDING COMPANY, a Massachusetts business trust (“RNK Holding”), HANOVER LEASING, LLC,
a Delaware limited liability company (“Hanover”), MR. DOUG DENNY-BROWN, an individual (“Denny-Brown”),
MR. NEAL HART, an individual (“Hart”), MR. GLENN POKRAKA, an individual (“Pokraka”),
MR. JOHN SKINNER, an individual (“Skinner”), MR. FRED WEYMSS, an individual (together with RNK
Holding, Hanover, Denny-Brown, Hart, Pokraka and Skinner, each a “Subordinated Creditor” and collectively the
“Subordinated Creditors”) and WAVE2WAVE COMMUNICATIONS, INC., a Delaware corporation (the “Borrower”).

WHEREAS, the Borrower
and the Subordinated Creditors are party to that certain Consent Agreement and Note Modification, dated as of December 14, 2010
(the “Consent”) pursuant to which, among other things, the Subordinated Creditors agreed to extend the maturity
date of the Amended Subordinated Notes (as defined in the Consent) to July 13, 2011; and

WHEREAS, in consideration
of Borrower agreeing to an aggregate partial repayment of $1,000,000 on the Amended Subordinated Notes upon the closing of the
Borrower’s contemplated initial public offering, the Subordinated Creditors have agreed that the maturity date of the Amended
Subordinated Notes shall be further extended to March 31, 2012.

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows.

1.Amendment
of Section 1(b) of Consent. Section 1(b) of the Consent is hereby amended by deleting the first and second sentence of such
Section in their entirety and replacing them with the following:

“Notwithstanding
any provision of the Note Modification Agreement, any of the Amended Subordinated Notes or the Original Consent to the contrary,
subject to the Borrower issuing the shares as described above and subject to the payment by the Borrower of $1,000,000 on the Amended
Subordinated Notes at the closing of the IPO (in the proportions that the shares were issued to the Subordinated Creditors), the
Subordinated Creditors hereby agree (i) to waive the requirement of the repayment in full of the Amended Subordinated Notes at
the closing of the IPO and (ii) that the Amended Subordinated Notes are hereby amended to provide that the maturity date of the
Amended Subordinated Notes shall be the earlier of: March 31, 2012 or the next financing achieved by Borrower following the IPO
and repayment in full of the loan from Victory Park Management, LLC and Victory Park Credit Opportunities Master Fund, Ltd. made
to Borrower on September 8, 2009, as amended, restated, supplemented or modified (the “Senior Note”); provided, that,
if the closing of the IPO does not occur, then the maturity date of the Amended Subordinated Notes shall be July 13, 2011 or the
next financing achieved by Borrower after repayment of the Senior Note. In the event that any proceeds remain from a financing,
other than the IPO, (such financing referred to as an “Alternative Financing”) through which Borrower repays in full
of the Senior Note, after such repayment, except as otherwise agreed by 

 

the
  Subordinated Creditors (as defined in this Agreement), the remaining proceeds
  from such Alternative Financing will be used to repay the Amended Subordinated
  Notes.”

2.Modification,
Amendment or Waiver. Except as otherwise modified by this Amendment, the Consent shall remain in full force and effect. Any
modification, amendment or waiver of any provision of this Amendment, or any consent to any departure by any party from the terms
hereof, shall not be effective in any event unless the same is in writing and signed by all parties hereto. By their signatures
hereto, each of the Subordinated Creditors hereby authorizes and directs RNK Holding to execute and deliver any such modification,
waiver or consent on its behalf.

3.Further
Assurances. Each party to this Amendment promptly will execute and deliver such further instruments and agreements and do such
further acts and things as may be reasonably requested in writing by any other party hereto that may be necessary or desirable
in order to effect fully the purposes of this Amendment.

4.Successors
and Assigns. This Amendment and the rights and benefits hereof shall inure to the benefit of, and shall be binding upon, the
respective successors and assigns of the parties.

5.Headings.
The paragraph headings used in this Amendment are for convenience only and shall not affect the interpretation of any of the provisions
hereof.

6.Counterparts.
This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Furthermore, such counterparts may be delivered by facsimile or by electronic mail
in “portable document format” (or “.pdf”), with any such counterpart delivered in such way deemed an original.

7.Costs.Borrower
also agrees to pay all reasonable legal fees of Noteholders, incurred in connection with the extension of the maturity date of
the Amended Subordinated Notes, not later than the maturity date of the Amended Subordinated Notes,

- Remainder of page intentionally
blank; signature pages follow -

IN WITNESS WHEREOF,
each party has caused this Amendment to be executed as of the date first above written.

	 	BORROWER: 
	 	 
	 	WAVE2WAVE COMMUNICATIONS, 
	 	INC.,
    a Delaware corporation 
	 	 	 
	 	By:	/s/ Eric Mann
	 	Name:	 Eric Mann 
	 	Title:	 Chief Financial
        Officer 
	 
	 	By:	/s/
        Aaron Dobrinsky
	 	Name:  	 Aaron Dobrinsky 
	 	Title:	 Chief Executive
        Officer 
	 
	SUBORDINATED CREDITORS: 	 	 
	RNK HOLDING COMPANY,
        a 	HANOVER LEASING, LLC,
    a Delaware 
	Massachusetts business
        trust 	limited liability company 
	 
	By: 	/s/
    Richard N. Koch	 	By:	/s/
        Arthur P. Beecher
	Name:   	Richard
    N. Koch	 	Name:	Arthur
    P. Beecher
	Title: 	President	 	Title:	President
	 	 	 
	 	 	 
	MR. DOUG DENNY-BROWN,
        an individual 	 	MR. NEAL HART,
        an individual 
	 
	By: 	/s/
    Doug Denny-Brown	 	By:	/s/
    Neal Hart
	 
	 	 	 
	MR. GLENN POKRAKA,
        an individual 	 	MR. JOHN SKINNER,
        an individual 
	 
	By: 	/s/
    Glenn Pokraka	 	By:	/s/
    John Skinner
	 
	 	 	 
	MR. FRED WEYMSS,
        an individual 	 	 
	 
	By: 	/s/
    Fred WeymssExhibit 10.97

LETTER AGREEMENT

 

January 11, 2011

 

 

WAVE2WAVE COMMUNICATIONS, INC.

RNK, INC.

WAVE2WAVE VOIP COMMUNICATIONS, LLC

WAVE2WAVE DATA COMMUNICATIONS, LLC

WAVE2WAVE COMMUNICATIONS MID-WEST REGION, LLC

RNK VA, LLC

433 Hackensack Avenue, 5th Floor

Hackensack, New Jersey 07601

	Telephone:
	(201) 968-9797

	Facsimile:
	(201) 968-1886

	Attention:
	Eric Mann, Chief Financial Officer

Re:      Forbearance Agreement

 

Ladies and Gentlemen:

 

Reference is hereby made
to (i) that certain Financing Agreement dated as of September 8, 2009 (as amended, restated, supplemented or otherwise modified
from time to time, the “Financing Agreement”) by and among Wave2Wave Communications, Inc., a Delaware corporation
(“Borrower”), RNK, Inc., a Massachusetts corporation (“RNK”), Wave2Wave VOIP Communications,
LLC, a Delaware limited liability company (“VOIP”), Wave2Wave Data Communications, LLC a Delaware limited liability
company (“Wave Data”), Wave2Wave Communications Mid-West Region, LLC, a Delaware limited liability company (“Wave
Communications”), RNK VA, LLC, a Virginia limited liability company (“RNK VA”), Victory Park Management,
LLC, as agent (in such capacity, the “Agent”) for the financial institutions from time to time party thereto
(collectively, the “Lenders”) and such Lenders and (ii) that certain Seventh Forbearance Agreement dated as
of December 13, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Forbearance Agreement”)
by and among Borrower, RNK, VOIP, Wave Data, Wave Communications, RNK VA, Agent and the Lenders. Capitalized terms used but not
defined in this letter shall have the respective meanings set forth in the Financing Agreement.

 

The Credit Parties, Agent
and Lenders hereby agree that the Forbearance Agreement is hereby amended by deleting clauses (a) and (b) set forth in Section
6 thereof in their entirety and replacing them with the following, respectively:

 

“(a)     IPO.
On or prior to February 11, 2011, the Companies shall consummate an IPO, pursuant to which Borrower will issue at least 1,700,000
units (collectively, the “Units”), each consisting of one share of Common Stock and a warrant to purchase one
share of Common Stock for a purchase price equal to or greater than $4.25 per Unit (the “February IPO”).”

“(b)     IPO
Prepayment. On or prior to February 16, 2011, the Companies shall pay to Agent in cash in immediately available funds an amount
equal to $2,000,000 from the proceeds of the February IPO, which amount shall be applied to reduce the principal balance of the
Term Note; provided however, if, upon exercise of the underwriter’s overallotment option, Borrower issues greater than 1,700,000
Units in connection with the February IPO, such amount shall be increased on a dollar-for-dollar basis by the cash proceeds (net
of all underwriting, dealer, and brokerage fees, discounts and commissions) received in connection with such additional issuance
(up to an aggregate amount not to exceed $2,700,000).”

 

Except as specifically
amended hereby, all terms, conditions, covenants, representations and warranties contained in the Forbearance Agreement, the Financing
Agreement and the other Transaction Documents, and all rights of the Lenders and the Agent and
all of the obligations under the Forbearance Agreement, the Financing Agreement and the other Transaction Documents, shall remain
in full force and effect. 

This letter agreement shall
be governed by the internal laws of the State of Illinois.

 

[Remainder of Page
Intentionally Left Blank; Signature Page Follows]

IN WITNESS WHEREOF,
each of the undersigned have executed this letter agreement as of the date first written above.

VICTORY PARK
MANAGEMENT, LLC, as

Agent

By: /s/ Matthew Ray                         

Name: Matthew Ray

Title: Manager

  

VICTORY PARK
CREDIT OPPORTUNITIES

MASTER FUND, LTD., as a Lender

By: Victory Park Capital Advisors, LLC

Its: Investment Manager

By: /s/ Scott R. Zemnick                         

Name: Scott R. Zemnick

Title: General
Counsel

Agreed and Acknowledged:

 

WAVE2WAVE COMMUNICATIONS, INC., a Delaware corporation

By: /s/ Eric Mann                    

Name: Eric Mann                    

Title: Chief Financial Officer     

 

RNK, INC., a Massachusetts corporation

By: /s/ Eric Mann                    

Name: Eric Mann                    

Title: Treasurer                        

 

WAVE2WAVE VOIP COMMUNICATIONS, LLC, a Delaware limited liability
company

By: /s/ Eric Mann                    

Name: Eric Mann                    

Title: Chief Financial Officer     

 

WAVE2WAVE DATA COMMUNICATIONS, LLC, a Delaware limited liability
company

By: /s/ Eric Mann                    

Name: Eric Mann                    

Title: Chief Financial Officer     

 

WAVE2WAVE COMMUNICATIONS MID-WEST REGION, LLC, a Delaware
limited liability company

By: /s/ Eric Mann                    

Name: Eric Mann                    

Title: Chief Financial Officer     

 

RNK
VA, LLC, a Virginia limited liability company

By: /s/ Eric Mann                    

Name: Eric Mann                    

Title: Treasurer

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