Document:

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                                                                 Exhibit 10.19

                                PLC SYSTEMS, INC.

                        2000 EMPLOYEE STOCK PURCHASE PLAN

         The purpose of this Plan is to provide eligible employees of PLC
Systems, Inc. (the "Company") and certain of its subsidiaries with opportunities
to purchase shares of the Company's common stock, no par value (the "Common
Stock"). Four hundred thousand (400,000) shares of Common Stock in the aggregate
have been approved for this purpose. This Plan is intended to qualify as an
"employee stock purchase plan" as defined in Section 423 of the Internal Revenue
Code of 1986, as amended (the "Code"), and the regulations promulgated
thereunder, and shall be interpreted consistent therewith.

         1. ADMINISTRATION. The Plan will be administered by the Company's Board
of Directors (the "Board") or by a Committee appointed by the Board (the
"Committee"). The Board or the Committee has authority to make rules and
regulations for the administration of the Plan and its interpretation and
decisions with regard thereto shall be final and conclusive.

         2. ELIGIBILITY. All employees of the Company, including Directors who
are employees, and all employees of any subsidiary of the Company (as defined in
Section 424(f) of the Code) designated by the Board or the Committee from time
to time (a "Designated Subsidiary"), are eligible to participate in any one or
more of the offerings of Options (as defined in Section 9) to purchase Common
Stock under the Plan provided that:

              (a) they are customarily employed by the Company or a Designated
         Subsidiary for more than 20 hours a week and for more than five months
         in a calendar year; and

              (b) they have been employed by the Company or a Designated
         Subsidiary for at least three (3) months prior to enrolling in the
         Plan; and

              (c) they are employees of the Company or a Designated Subsidiary
         on the first day of the applicable Plan Period (as defined below).

         No employee may be granted an option hereunder if such employee,
immediately after the option is granted, owns 5% or more of the total combined
voting power or value of the stock of the Company or any subsidiary. For
purposes of the preceding sentence, the attribution rules of Section 424(d) of
the Code shall apply in determining the stock ownership of an employee, and all
stock which the employee has a contractual right to purchase shall be treated as
stock owned by the employee. PLC Medical Systems, Inc., a Delaware corporation,
shall initially be a Designated Subsidiary, but such designation may be changed
by the Board or the Committee.

         3. OFFERINGS. The Company will make one or more offerings ("Offerings")
to employees to purchase stock under this Plan. Unless otherwise determined by
the Board or the Committee, the first Offering will commence on the later of the
date on which the Plan is approved by the stockholders of the Company or June
15, 2000 (the "Effective Date") and end on December 1, 2000. Unless otherwise
determined by the Board or the Committee, subsequent Offerings will commence on
the first date (each, an "Offering Commencement Date") after the

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end of the preceding Offering and will end on the last day of the sixth full
month thereafter. Each Offering Commencement Date will begin a six (6) month
period (a "Plan Period") during which payroll deductions will be made and held
for the purchase of Common Stock at the end of the Plan Period. The Board or the
Committee may, at its discretion, choose a different Plan Period of twelve (12)
months or less for subsequent Offerings.

         4. PARTICIPATION. An employee eligible on the Offering Commencement
Date of any Offering may participate in such Offering by completing and
forwarding a payroll deduction authorization form to the employee's appropriate
payroll office at least seven (7) days prior to the applicable Offering
Commencement Date. The form will authorize a regular payroll deduction from the
Compensation received by the employee during the Plan Period. Unless an employee
files a new form or withdraws from the Plan, his deductions and purchases will
continue at the same rate for future Offerings under the Plan as long as the
Plan remains in effect. The term "Compensation" means the amount of money
reportable on the employee's Federal Income Tax Withholding Statement, excluding
overtime, shift premium, incentive or bonus awards, allowances and
reimbursements for expenses such as relocation allowances for travel expenses,
income or gains on the exercise of Company stock options or stock appreciation
rights, and similar items, whether or not shown on the employee's Federal Income
Tax Withholding Statement, but including, in the case of salespersons, sales
commissions to the extent determined by the Board or the Committee.

         5. DEDUCTIONS. The Company will maintain payroll deduction accounts for
all participating employees. With respect to any Offering made under this Plan,
an employee may authorize a payroll deduction in any dollar amount up to a
maximum of 10% of the Compensation he or she receives during the Plan Period (or
such lesser percentage as the Board or Committee shall determine before the
start of each Plan Period) or such shorter period during which deductions from
payroll are made. The minimum payroll deduction is such percentage of
compensation as may be established from time to time by the Board or the
Committee.

         No employee may be granted an Option (as defined in Section 9) which
permits his rights to purchase Common Stock under this Plan and any other
employee stock purchase plan (as defined in Section 423(b) of the Code) of the
Company and its subsidiaries, to accrue at a rate which exceeds $25,000 of the
fair market value of such Common Stock (determined at the Offering Commencement
Date of the Plan Period) for each calendar year in which the Option is
outstanding at any time.

         6. DEDUCTION CHANGES. An employee may decrease or discontinue his
payroll deduction once during any Plan Period, by filing a new payroll deduction
authorization form. However, an employee may not increase his payroll deduction
during a Plan Period. If an employee elects to discontinue his payroll
deductions during a Plan Period, but does not elect to withdraw his funds
pursuant to Section 8 hereof, funds deducted prior to his election to
discontinue will be applied to the purchase of Common Stock on the Exercise Date
(as defined below).

         7. INTEREST. Interest will not be paid on any employee accounts, except
to the extent that the Board or the Committee, in its sole discretion, elects to
credit employee accounts with interest at such per annum rate as it may from
time to time determine.

                                      -2-

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         8. WITHDRAWAL OF FUNDS. An employee may at any time prior to the close
of business on the last business day in a Plan Period and for any reason
permanently draw out the balance accumulated in the employee's account and
thereby withdraw from participation in an Offering. Partial withdrawals are not
permitted. The employee may not begin participation again during the remainder
of the Plan Period. The employee may participate in any subsequent Offering in
accordance with terms and conditions established by the Board or the Committee.

         9. PURCHASE OF SHARES. On the Offering Commencement Date of each Plan
Period, the Company will grant to each eligible employee who is then a
participant in the Plan an option ("Option") to purchase on the last business
day of such Plan Period (the "Exercise Date"), at the Option Price hereinafter
provided for, the largest number of whole shares of Common Stock of the Company
as does not exceed the number of shares determined by multiplying $2,083 by the
number of full months in the Offering Period and dividing the result by the
closing price (as defined below) on the Offering Commencement Date of such Plan
Period.

         The purchase price for each share purchased will be 85% of the closing
price of the Common Stock on (i) the first business day of such Plan Period or
(ii) the Exercise Date, whichever closing price shall be less. Such closing
price shall be (a) the closing price on any national securities exchange on
which the Common Stock is listed, (b) the closing price of the Common Stock on
the Nasdaq National Market or (c) the average of the closing bid and asked
prices in the over-the-counter-market, whichever is applicable, as published in
THE WALL STREET JOURNAL. If no sales of Common Stock were made on such a day,
the price of the Common Stock for purposes of clauses (a) and (b) above shall be
the reported price for the next preceding day on which sales were made.

         Each employee who continues to be a participant in the Plan on the
Exercise Date shall be deemed to have exercised his Option at the Option Price
on such date and shall be deemed to have purchased from the Company the number
of full shares of Common Stock reserved for the purpose of the Plan that his
accumulated payroll deductions on such date will pay for, but not in excess of
the maximum number determined in the manner set forth above.

         Any balance remaining in an employee's payroll deduction account at the
end of a Plan Period will be automatically refunded to the employee, except that
any balance which is less than the purchase price of one share of Common Stock
will be carried forward into the employee's payroll deduction account for the
following Offering, unless the employee elects not to participate in the
following Offering under the Plan, in which case the balance in the employee's
account shall be refunded.

         10. ISSUANCE OF CERTIFICATES. Certificates representing shares of
Common Stock purchased under the Plan may be issued only in the name of the
employee, in the name of the employee and another person of legal age as joint
tenants with rights of survivorship, or (in the Company's sole discretion) in
the name of a brokerage firm, bank or other nominee holder designated by the
employee. The Company may, in its sole discretion and in compliance with
applicable laws, authorize the use of book entry registration of shares in lieu
of issuing stock certificates.

                                      -3-

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         11. RIGHTS ON RETIREMENT, DEATH OR TERMINATION OF EMPLOYMENT. In the
event of a participating employee's termination of employment prior to the last
business day of a Plan Period, no payroll deduction shall be taken from any pay
due and owing to an employee and the balance in the employee's account shall be
paid to the employee or, in the event of the employee's death, (a) to a
beneficiary previously designated in a revocable notice signed by the employee
(with any spousal consent required under state law) or (b) in the absence of
such a designated beneficiary, to the executor or administrator of the
employee's estate or (c) if no such executor or administrator has been appointed
to the knowledge of the Company, to such other person(s) as the Company may, in
its discretion, designate. If, prior to the last business day of the Plan
Period, the Designated Subsidiary by which an employee is employed shall cease
to be a subsidiary of the Company, or if the employee is transferred to a
subsidiary of the Company that is not a Designated Subsidiary, the employee
shall be deemed to have terminated employment for the purposes of this Plan.

         12. OPTIONEES NOT STOCKHOLDERS. Neither the granting of an Option to an
employee nor the deductions from his pay shall constitute such employee a
stockholder of the shares of Common Stock covered by an Option under this Plan
until such shares have been purchased by and issued to him.

         13. RIGHTS NOT TRANSFERABLE. Rights under this Plan are not
transferable by a participating employee other than by will or the laws of
descent and distribution, and are exercisable during the employee's lifetime
only by the employee.

         14. APPLICATION OF FUNDS. All funds received or held by the Company
under this Plan may be combined with other corporate funds and may be used for
any corporate purpose.

         15. ADJUSTMENT IN CASE OF CHANGES AFFECTING COMMON STOCK. In the event
of a subdivision of outstanding shares of Common Stock, or the payment of a
dividend in Common Stock, the number of shares approved for this Plan, and the
share limitation set forth in Section 9, shall be increased proportionately, and
such other adjustment shall be made as may be deemed equitable by the Board or
the Committee. In the event of any other change affecting the Common Stock, such
adjustment shall be made as may be deemed equitable by the Board or the
Committee to give proper effect to such event.

         16. MERGER. If the Company shall at any time merge or consolidate with
another corporation and the holders of the capital stock of the Company
immediately prior to such merger or consolidation continue to hold at least 80%
by voting power of the capital stock of the surviving corporation ("Continuity
of Control"), the holder of each Option then outstanding will thereafter be
entitled to receive at the next Exercise Date upon the exercise of such Option
for each share as to which such Option shall be exercised the securities or
property which a holder of one share of the Common Stock was entitled to upon
and at the time of such merger or consolidation, and the Board or the Committee
shall take such steps in connection with such merger or consolidation as the
Board or the Committee shall deem necessary to assure that the provisions of
Section 15 shall thereafter be applicable, as nearly as reasonably may be, in
relation to the said securities or property as to which such holder of such
Option might thereafter be entitled to receive thereunder. In the event of a
merger or consolidation of the Company with

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or into another corporation which does not involve Continuity of Control, or of
a sale of all or substantially all of the assets of the Company while
unexercised Options remain outstanding under the Plan, (a) subject to the
provisions of clauses (b) and (c), after the effective date of such transaction,
each holder of an outstanding Option shall be entitled, upon exercise of such
Option, to receive in lieu of shares of Common Stock, shares of such stock or
other securities as the holders of shares of Common Stock received pursuant to
the terms of such transaction; or (b) all outstanding Options may be canceled by
the Board or the Committee as of a date prior to the effective date of any such
transaction and all payroll deductions shall be paid out to the participating
employees; or (c) all outstanding Options may be canceled by the Board or the
Committee as of the effective date of any such transaction, provided that notice
of such cancellation shall be given to each holder of an Option, and each holder
of an Option shall have the right to exercise such Option in full based on
payroll deductions then credited to his account as of a date determined by the
Board or the Committee, which date shall not be less than ten (10) days
preceding the effective date of such transaction.

         17. AMENDMENT OF THE PLAN. The Board may at any time, and from time to
time, amend this Plan in any respect, except that (a) if the approval of any
such amendment by the shareholders of the Company is required by Section 423 of
the Code, such amendment shall not be effected without such approval, and (b) in
no event may any amendment be made which would cause the Plan to fail to comply
with Section 423 of the Code.

         18. INSUFFICIENT SHARES. In the event that the total number of shares
of Common Stock specified in elections to be purchased under any Offering plus
the number of shares purchased under previous Offerings under this Plan exceeds
the maximum number of shares issuable under this Plan, the Board or the
Committee will allot the shares then available on a pro rata basis.

         19. TERMINATION OF THE PLAN. This Plan may be terminated at any time by
the Board. Upon termination of this Plan all amounts in the accounts of
participating employees shall be promptly refunded.

         20. GOVERNMENTAL REGULATIONS. The Company's obligation to sell and
deliver Common Stock under this Plan is subject to listing on a national stock
exchange or quotation on the Nasdaq National Market (to the extent the Common
Stock is then so listed or quoted) and the approval of all governmental
authorities required in connection with the authorization, issuance or sale of
such stock.

         21. GOVERNING LAW. The Plan shall be governed by Massachusetts law
except to the extent that such law is preempted by federal law.

         22. ISSUANCE OF SHARES. Shares may be issued upon exercise of an Option
from authorized but unissued Common Stock, from shares held in the treasury of
the Company, or from any other proper source.

         23. NOTIFICATION UPON SALE OF SHARES. Each employee agrees, by entering
the Plan, to promptly give the Company notice of any disposition of shares
purchased under the Plan where

                                      -5-

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such disposition occurs within two years after
the date of grant of the Option pursuant to which such shares were purchased.

         24. EFFECTIVE DATE AND APPROVAL OF SHAREHOLDERS. The Plan shall take
effect on May 24, 2000 subject to approval by the shareholders of the Company as
required by Section 423 of the Code, which approval must occur within twelve
months of the adoption of the Plan by the Board.

                                             Adopted by the Board of Directors
                                             on February 1, 2000

                                             Approved by the stockholders on
                                             May 24, 2000

                                      -6-<Page>

Exhibit 10.11

                       SECOND AMENDMENT AND LIMITED WAIVER

     SECOND AMENDMENT AND LIMITED WAIVER (this "AMENDMENT"), dated as of
November 28, 2001, among FAIRPOINT COMMUNICATIONS SOLUTIONS CORP., a Delaware
corporation (the "BORROWER"); the Credit Parties (other than the Parent) listed
on the signature pages hereof, for purposes of Section D hereof only; the
Parent, for purposes of Section E hereof only; the lenders party to the Credit
Agreement referred to below (each, a "LENDER" and, collectively, the "LENDERS");
and FIRST UNION NATIONAL BANK, as Administrative Agent (in such capacity, the
"ADMINISTRATIVE AGENT"). Unless otherwise defined herein, capitalized terms used
herein and defined in the Credit Agreement referred to below are used as so
defined.

                              W I T N E S S E T H :

     WHEREAS, the Borrower, the Lenders and the Administrative Agent have
entered into that certain Amended and Restated Credit Agreement, dated as of
October 20, 1999, as amended and restated as of March 27, 2000, as further
amended and restated as of November 9, 2000 and as amended by the First
Amendment dated as of March 9, 2001 (as so amended and amended and restated, the
"CREDIT AGREEMENT"); and

     WHEREAS, the Borrower desires to sell certain assets (the "NORTHWEST
ASSETS"), including voice, data and Internet access services, relating to its
business and operations as presently conducted in the states of Washington and
Oregon to Advanced TelCom, Inc., for gross cash consideration in the amount of
$3,866,000 (subject to adjustment on the terms set forth in the Northwest Asset
Sale Agreement (as defined in Section A.1 of this Amendment)), pursuant to the
terms of the Northwest Asset Sale Agreement; and

     WHEREAS, the Borrower has requested that Lenders waive, and Lenders have
agreed to waive, subject to the terms and conditions set forth below, certain
restrictions contained in Section 5.02(d) and 9.02 of the Credit Agreement with
respect to the contemplated sale of the Northwest Assets; and

     WHEREAS, subject to the terms and conditions set forth below, the parties
hereto wish to amend the Credit Agreement as provided herein.

     NOW, THEREFORE, it is hereby agreed that;

A. AMENDMENTS TO CREDIT AGREEMENT

          1. Section 1 of the Credit Agreement is hereby amended by inserting
therein the following new defined terms in appropriate alphabetical order:

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          "Northwest Asset Sale" shall mean the Asset Sale contemplated by the
     Northwest Asset Sale Agreement.

          "Northwest Asset Sale Agreement" shall mean that certain Asset
     Purchase Agreement dated as of October 19, 2001, by and between the
     Borrower and Advanced TelCom, Inc., as in effect on the Second Amendment
     Effective Date and as it may be amended, supplemented or otherwise modified
     by the Borrower and ATG in a manner not materially adverse to the Lenders
     or with the consent of the Required Lenders.

          "Northwest Asset Sale Proceeds Schedule" shall mean the schedule
     setting forth the Borrower's proposed uses for the proceeds from the
     Northwest Asset Sale, attached to the Second Amendment as Annex A.

          "Second Amendment" shall mean the Second Amendment and Limited Waiver
     to this Agreement dated as of November 28, 2001.

          "Second Amendment Effective Date" shall have the meaning assigned to
     that term in the Second Amendment.

          2. Section 2.03 of the Credit Agreement is hereby amended by inserting
the following new subparagraph (d) immediately after subparagraph (c) thereof:

          "(d) Anything contained herein to the contrary notwithstanding,
     (i) from the Second Amendment Effective Date through and including December
     31, 2001, the Borrower shall not be permitted to deliver any Notice of
     Borrowing (or telephonic notice in lieu thereof) to the Administrative
     Agent, or to borrow additional Revolving Loans, and no Lender shall be
     obligated to make additional Revolving Loans during such period, and (ii)
     after December 31, 2001, the Borrower shall not be permitted to deliver any
     Notice of Borrowing (or telephonic notice in lieu thereof) to the
     Administrative Agent, or to borrow additional Revolving Loans, and no
     Lender shall be obligated to make additional Revolving Loans during such
     period, without in each such case the prior consent of each Lender".

          3. Section 3.03 of the Credit Agreement is hereby amended by inserting
the following new subparagraph (d) immediately after subparagraph (c) thereof:

          "(d) Anything contained herein to the contrary notwithstanding, (i)
     from and after the Second Amendment Effective Date through and including
     December 31, 2001, the Borrower shall not be permitted to deliver any
     Letter of Credit Request to the Administrative Agent or any proposed
     Issuing Lender, and no Lender shall be obligated to issue any Letter of
     Credit and (ii) after December 31, 2001, the Borrower shall not be
     permitted to deliver any Letter of Credit Request to the Administrative
     Agent or any proposed Issuing Lender, and no Lender shall be obligated to
     issue any Letter of Credit, without in each such case the prior consent of
     each Lender".

          4. Section 4.03(c) of the Credit Agreement is hereby amended by
deleting it in its entirety therefrom and substituting therefor the following:

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          "(c) In addition to any other mandatory commitment reductions
     pursuant to this Section 4.03, the Total Revolving Commitment shall be
     permanently reduced (i) on the Second Amendment Effective Date to
     $23,550,000 and (ii) from time to time in accordance with Section 5.02(h)
     (it being understood that the proceeds from the Northwest Asset Sale shall
     be used in accordance with the Northwest Asset Sale Proceeds Schedule)".

B. WAIVERS

          Effective as of the Second Amendment Effective Date (as defined
below), the Lenders hereby waive (a) the restrictions imposed under Section 9.02
of the Amended Agreement to permit the sale of the Northwest Assets as
contemplated pursuant to the Northwest Asset Sale Agreement and (b) the
requirement imposed under Section 5.02(d) of the Amended Agreement to permit all
or a portion of the Net Cash Proceeds of such sale of the Northwest Assets to be
applied to purposes other than repayment of Loans, and hereby authorize and
request the Collateral Agent to (X) deliver to the Borrower upon closing of such
Asset Sale all applicable UCC-3 termination statements requested by the Borrower
and (Y) release any Lien granted to or held by the Collateral Agent under the
Security Documents to the extent that such Lien covers such Northwest Assets
(which release shall be deemed to occur upon delivery of the aforementioned
termination statements to the Borrower); PROVIDED that (i) such sale shall be
solely for cash consideration in accordance with the terms of the Northwest
Asset Sale Agreement and (ii) the Borrower hereby agrees that the Cash Proceeds
of the Northwest Asset Sale, including Cash Proceeds the payment of which is
deferred, shall be applied, at Borrower's election, either (1) to repay the
Loans (and not reinvested) pursuant to Section 5.02(d) of the Amended Agreement
or (2) to the payment of the contingent liabilities specified in, and in an
aggregate amount not in excess of the total amount set forth in, the Northwest
Asset Sale Proceeds Schedule.

C. LIMITATION OF WAIVERS

          The waivers and authorizations set forth above shall be limited
precisely as written and shall in no event (1) amend or constitute a waiver of
compliance by the Borrower with respect to (a) Section 5.02(d) or Section 9.02
of the Credit Agreement or the Amended Agreement (as the case may be) in any
other instance, (b) any other term, provision or condition of the Credit
Agreement or the Amended Agreement (as the case may be), (c) the other Credit
Documents, or (d) any other instrument or agreement referred to therein, or (2)
prejudice any right or remedy that the Administrative Agent or any Lender may
now have or may have in the future under or in connection with the Credit
Agreement, the other Credit Documents, any other instrument or agreement
referred to therein or under applicable law. Except as expressly set forth
herein, the terms, provisions and conditions of the Credit Agreement and the
other Credit Documents shall remain in full force and effect and in all other
respects are hereby ratified and confirmed.

D. ACKNOWLEDGMENT AND CONSENT

          1. The Security Documents and the Credit Documents to which the
Borrower and other Credit Parties are party are herein referred to collectively
as the "CREDIT SUPPORT

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DOCUMENTS". Each Credit Party (other than the Parent) which is party to this
Second Amendment (each a "CREDIT SUPPORT PARTY", and collectively, "CREDIT
SUPPORT PARTIES") hereby acknowledges that it has reviewed the terms and
provisions of the Credit Agreement and this Amendment. Each such Credit Support
Party hereby confirms that each Credit Support Document to which it is a party
or otherwise bound and all Collateral encumbered thereby will continue to
guaranty or secure, as the case may be, to the fullest extent set forth therein
the payment and performance of all "Guaranteed Obligations" and "Obligations" as
the case may be (in each case as such terms are defined in the applicable Credit
Support Document), including without limitation the payment and performance of
all such "Guaranteed Obligations" or "Obligations", as the case may be, in
respect of the Obligations of the Borrower now or hereafter existing under or in
respect of the Credit Agreement as amended by this Amendment (as so amended, the
"AMENDED AGREEMENT") and the Credit Documents. Each such Credit Support Party
acknowledges and agrees that any of the Credit Support Documents to which it is
a party or otherwise bound shall continue in full force and effect and that all
of its obligations thereunder shall be valid and enforceable and shall not be
impaired or limited by the execution or effectiveness of this Amendment. Each
Credit Support Party (other than the Borrower) acknowledges and agrees that (i)
notwithstanding the conditions to effectiveness set forth in this Amendment,
such Credit Support Party is not required by the terms of the Credit Agreement
or any other Credit Document to consent to this Amendment, and (ii) nothing in
the Amended Agreement, this Amendment or any other Credit Document shall be
deemed to require the consent of such Credit Support Party to any future
consents or waivers to the Amended Agreement.

          2. No Agent nor any Lender has or shall have, by reason of this
Amendment, the Credit Agreement or the other Credit Documents, a fiduciary
relationship in respect of the Borrower, any other Credit Party or Credit
Parties.

          3. Each Credit Support Party hereby confirms, reaffirms and
acknowledges (i) that the Collateral Agent (for the benefit of the Secured
Creditors (as defined in each of the Credit Support Documents)) has a fully
perfected first Lien on, and security interest in, all right, title and interest
of such Credit Support Party in the Collateral, subject to no other Liens (other
than Permitted Liens) and (ii) the continuing validity and effectiveness of the
Collateral Agent's and Secured Creditors' rights under the Credit Documents and
applicable law.

          4. Except as expressly set forth in this Amendment, each of the
undersigned hereby acknowledges and agrees that the execution and delivery by
any Agent and the Lenders of this Amendment shall not be deemed (i) to create a
course of dealing or otherwise obligate any Agent or the Lenders to forbear or
execute similar agreements under the same or similar circumstances in the
future, (ii) to modify, relinquish or impair any right of any Agent or the
Lenders to receive any indemnity or similar payment from, or exercise any rights
granted by, any Person or entity as a result of any matter arising from or
relating to this Amendment, (iii) to waive any right of the Lenders to receive
interest at an increased rate as a result of any Events of Default that may
occur under the Credit Agreement, (iv) to obligate any Agent or the Lenders in
any way to forbear from individually or collectively enforcing remedies under
the Credit Agreement in any manner or (v) a commitment from or of any Agent or
the Lenders to forbear or "stand still". Except as expressly set forth in this
Amendment, no past or future forbearance on the part of any of any Agent or the
Lenders should be viewed as a limitation upon or waiver of

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the absolute right and privilege of any Agent or the Lenders in exercising
rights and remedies that currently exist or may exist after the Second Amendment
Effective Date.

E. ACKNOWLEDGMENT BY PARENT

          The Parent hereby acknowledges and agrees that the execution, delivery
and effectiveness of this Amendment do not impair, limit or otherwise affect
adversely to the Lenders the Parent's obligations under the Amended and Restated
Preferred Stock Issuance and Capital Contribution Agreement.

F. MISCELLANEOUS PROVISIONS

          1. In order to induce the Lenders to enter into this Amendment, the
Borrower hereby represents and warrants that (i) the representations and
warranties contained in the Credit Agreement and in the other Credit Documents
are true and correct in all material respects on and as of the Second Amendment
Effective Date (as defined below) (except with respect to any representations
and warranties limited by their terms to a specific date, which shall be true
and correct in all material respects as of such date) and (ii) there exists no
Default or Event of Default under the Credit Agreement on the Second Amendment
Effective Date (as defined below), in each case both before and after giving
effect to this Amendment.

          2. This Amendment is limited as specified and shall not constitute an
amendment, modification, acceptance or waiver of any other provision of the
Credit Agreement or any other Credit Document, and no waiver or amendment
contained herein shall be deemed to prejudice any right or remedy that any Agent
or Lender may now have or may have in the future under or in connection with the
Credit Agreement or any other agreement or instrument referred to therein. Each
of the Agents and Lenders hereby expressly reserves all such rights and
remedies.

          3. This Amendment may be executed in any number of counterparts and by
the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Administrative Agent.

          4. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK.

          5. This Amendment shall become effective on the date (the "SECOND
AMENDMENT EFFECTIVE DATE") when (i) the Borrower, the other Credit Parties and
the Required Lenders shall have signed a counterpart hereof (whether the same or
different counterparts) and shall have delivered (including by way of
telecopier) the same to the Administrative Agent at the Notice Office and (ii)
the Borrower shall have delivered to the Lenders a schedule (which shall be
attached hereto as ANNEX A) in form and substance reasonably satisfactory to
Required Lenders setting forth the Borrower's proposed uses for proceeds from
the sale of the Northwest Assets.

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          6. The Borrower acknowledges that all reasonable out-of-pocket costs
and expenses as described in Section 12.01 of the Credit Agreement incurred by
the Agents (including, without limitation, the reasonable fees and disbursements
of O'Melveny & Myers LLP) with respect to this Amendment and the documents and
transactions contemplated hereby shall be for the account of the Borrower.

          7. From and after the Second Amendment Effective Date, all references
in the Amended Agreement and in the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Amended Agreement.

                  [Remainder of page intentionally left blank.]

<Page>

     IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
be duly executed and delivered as of the date first above written.

CREDIT PARTIES:                    FAIRPOINT COMMUNICATIONS
                                   SOLUTIONS CORP.

                                   By:  /s/  Walter E. Leach, Jr.
                                      ---------------------------
                                      Name:  Walter E. Leach, Jr.
                                      Title: Senior Vice President & CFO

                                   FAIRPOINT COMMUNICATIONS
                                   SOLUTIONS CORP. - NEW YORK

                                   By:  /s/  Walter E. Leach, Jr.
                                      ---------------------------
                                      Name:  Walter E. Leach, Jr.
                                      Title: Senior Vice President & CFO

                                   FAIRPOINT COMMUNICATIONS
                                   SOLUTIONS CORP. - VIRGINIA

                                   By:  /s/  Walter E. Leach, Jr.
                                      ---------------------------
                                      Name:  Walter E. Leach, Jr.
                                      Title: Senior Vice President & CFO

                                   FAIRPOINT SOLUTIONS CAPITAL,
                                   LLC

                                   By:  /s/  Walter E. Leach, Jr.
                                      ---------------------------
                                      Name:  Walter E. Leach, Jr.
                                      Title: Senior Vice President & CFO

                                   FAIRPOINT COMMUNICATIONS, INC. (for
                                   purposes of Section E only)

                                   By:  /s/  Walter E. Leach, Jr.
                                      ---------------------------
                                      Name:  Walter E. Leach, Jr.
                                      Title: Senior Vice President & CFO

                                       S-1
<Page>

LENDERS:                           BANK OF AMERICA, N.A.

                                   By:  /s/ Pamela S. Kurtzman
                                      ------------------------
                                      Name:  Pamela S. Kurtzman
                                      Title:    Principal

                                   BANKERS TRUST COMPANY

                                   By:  /s/  Anca Trifan
                                      ------------------
                                      Name:  Anca Trifan
                                      Title:   Director

                                   FIRST UNION NATIONAL BANK

                                   By:  /s/ Franklin M. Wessinger
                                      ---------------------------
                                      Name:  Franklin M. Wessinger
                                      Title:    Sr. Vice President

                                   CITICORP USA, INC.

                                   By:  /s/  Michael C. Becker
                                      ------------------------
                                      Name:  Michael C. Becker
                                      Title:   Sr. Vice President

                                   DLJ CAPITAL FUNDING, INC.

                                   By:
                                      ------------------------------
                                      Name:
                                      Title:

                                   COBANK, ACB

                                   By:
                                      ------------------------------
                                      Name:
                                      Title:

                                       S-2
<Page>

                                   CIT GROUP/EQUIPMENT FINANCING, INC.

                                   By:
                                      ------------------------------
                                      Name:
                                      Title:

                                       S-3
<Page>

                                     ANNEX A

                                        1

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